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☆ U.S. Investigating ‘Dutch Roll’ That Damaged a Boeing 737 During Flight
▼ + stars: | 2024-06-14 | by ( Remy Tumin | Niraj Chokshi | ) www.nytimes.com time to read: +1 min

The plane, a Boeing 737 Max 8, was flying at an altitude of 34,000 feet from Phoenix to Oakland, Calif., around 8 a.m. Pacific time on May 25 when the flight crew members said they experienced what is known as a Dutch roll, the N.T.S.B. A Dutch roll is “a coupled oscillation” that creates simultaneous side-to-side and rocking motions, producing a figure-8 effect. The phenomenon is believed to have been named by an aeronautical engineer who compared it to a traditional ice skating technique made popular in the Netherlands. If unaddressed, the wobbling can become more exaggerated, creating a dangerous feedback loop. “It’s a weird movement of the airplane, an oscillation that, if not dampened or stopped, could continue to get worse and worse,” said Jeff Guzzetti, a former accident investigator for the F.A.A.

Persons: ”, Jeff Guzzetti, “ Organizations: Southwest Airlines, Federal Aviation Administration, National Transportation Safety Board, Boeing Locations: Phoenix, Oakland, Calif, Netherlands

☆ Biden leads new drive to cement the West’s Ukraine war effort against Putin – and Trump
▼ + stars: | 2024-06-13 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

Washington CNN —President Joe Biden is leading the world’s richest democracies in sending a beefed-up message to Russian President Vladimir Putin that the West will not forsake Ukraine despite political shocks casting doubts over its commitment. A flurry of new Western plans to help UkraineStill, the latest Western plans to help Ukraine send a strong message of intent. The sanctions target foreign financial firms aiding Putin’s war effort, restrict Russian access to some US software and information technology. Russian advances on the battlefieldThese are substantial and credible political, economic and political demonstrations of support for Ukraine. Not surprisingly, Zelensky has always chafed at the self-imposed limits of Western support for his war effort that are a symptom of Biden’s core aim of avoiding a direct NATO confrontation with Russia.

Persons: Joe Biden, Vladimir Putin, Biden, Volodymyr Zelensky, ” Biden, “, Donald Trump, Trump, lionizes Putin, wobbling, —, George H.W, George H.W . Bush, Janet Yellen, ” — Biden, Zelensky, ” Jake Sullivan, Wesley Clark, ” Clark, they’ve, ”, Kamala Harris, Sullivan, John Kirby, Putin Organizations: Washington CNN, Republican Party, Capitol, Republican, CNN, NATO, Big, Union, Ukraine, Trump, Biden, Air Force, Hudson Institute, Kremlin, Kyiv, West, White House National Security Council Locations: Russian, Ukraine, Italy, Normandy, Europe, United States, France, Germany, George H.W ., Russia, Britain, Japan, Canada, NATO, Washington, Kyiv, Cuba, China, Iran, Israel, Ukrainian, Switzerland

☆ For Some Investors, Aging and Empty Office Buildings Aren’t a Bad Thing
▼ + stars: | 2024-06-12 | by ( Matthew Goldstein | ) www.nytimes.com time to read: +1 min

A perfect storm of plunging property values for aging buildings, weak tenant demand coming out of the pandemic and high interest rates for new loans and refinancing has left the $2.4 trillion office building sector wobbling. For some real estate investors, that may be a good thing. In April, a little-known firm, Yellowstone Real Estate Investments, paid $185 million for 1740 Broadway, a storied office tower near Columbus Circle in Manhattan. And this week, two real estate firms snapped up a Midtown Manhattan tower for less than $50 million, according to Bloomberg. Even though these are relatively small buyers, their emergence is a sign of the pain building in the U.S. commercial real estate market.

Persons: Blackstone Organizations: Estate Investments, Bloomberg Locations: Manhattan, Yellowstone, Columbus, Midtown Manhattan, U.S

☆ Donn Delson on documenting the world from 12,000 feet
▼ + stars: | 2024-05-31 | by ( Leah Dolan | ) edition.cnn.com time to read: +5 min

London CNN —“This is not daredevil stuff,” says 75-year-old fine art photographer Donn Delson as we sit in a helicopter with no door, almost 2,000 feet above London. Donn DelsonDelson, who is based in Los Angeles, began his career as an aerial photographer almost a decade ago. On a trip flying 3,200 feet over Molokai, Hawaii, Delson was captured inside a rare double circular rainbow. Courtesy Donn DelsonEven if he returns empty-handed, Delson believes there is more to be gained from the experience than simply making new work. “The world from above, it’s just so different from the world we know,” said Delson.

Persons: ”, Donn Delson, Ben, Delson —, It’s, we’re, —, Donn Delson Delson, “ I’ve, ” Delson, BandMerch, Rihanna, Billy Joel, — Delson, Delson, Donn Delson “, “, “ I’m Organizations: London CNN, CNN Locations: London, Los Angeles, Japan, Molokai, Hawaii, New Zealand, ”, Delson, Israel

☆ Trump trial live updates: Jury to re-hear David Pecker testimony on second day of deliberations
▼ + stars: | 2024-05-30 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Editor's note: This is developing news and will be updated throughout the day. The 12-member jury also has asked to re-hear the instructions on the law it received Wednesday from Manhattan Supreme Court Judge Juan Merchan before they began their first day of deliberations. The judge sent them home for the day after saying they would hear those requests on Thursday. Prosecutors, and Cohen, say that hid the fact that it was actually to prevent Daniels from harming Trump's then-wobbling campaign. "Mother Teresa could not beat these charges," Trump told reporters after jurors began deliberating Tuesday.

Persons: David Pecker, Emil Bove, Donald Trump's, Stormy Daniels, Donald Trump, Trump's, Michael Cohen, Juan Merchan, Trump, reimbursements, Cohen, Daniels, Teresa, Joe Biden Organizations: Republican, Manhattan, Prosecutors Locations: Manhattan, New York City, U.S, New York, Pecker's

☆ Michael Cohen gives Donald Trump his best day in hush money trial so far
▼ + stars: | 2024-05-17 | by ( Stephen Collinson | ) edition.cnn.com time to read: +9 min

CNN —Donald Trump finally had a good day in court. But on Thursday, he got to savor his former fixer-turned-enemy Michael Cohen wobbling on the stand under a fearsome cross-examination. And now, the prosecution faces a stiff challenge in repairing the damage when they get to their redirect examination of Cohen’s testimony following the close of cross-examination next week. “I think it was a very interesting day, it was a fascinating day. And it also raises the possibility that some jurors might believe that they have been lied to by Cohen earlier in the trial.

Persons: Donald Trump, Michael Cohen wobbling, Cohen, Stormy Daniels, “, ” Ryan Goodman, CNN’s Erin Burnett, ” Trump, Matt Gaetz, Trump, Todd Blanche, Blanche, Daniels, ’, Keith Schiller, Schiller, …, ” Blanche, President Trump, doesn’t, ”, Juan Merchan, Nikki Lotze, “ Jim, Norm Eisen, ” Eisen, CNN’s Anderson Cooper, George Conway, ” Cohen, kingpins, Cohen’s Organizations: CNN, GOP, Trump, NYU Law, Florida, Conservative

☆ Trump trial: Ex-fixer Michael Cohen to testify as star witness in hush money case
▼ + stars: | 2024-05-13 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Michael Cohen, former attorney for Donald Trump, arrives to the New York Courthouse on March 13, 2023. Michael Cohen, who spent years working as the personal lawyer and fixer for Donald Trump, is set to testify Monday against the former president in what could be the most critical moment of Trump's New York criminal hush money trial. Once slavishly devoted to Trump, Cohen is now his avowed enemy. The Trump Organization reported the Daniels-related reimbursements to Cohen as legal expenses. Alvin Bragg alleges that this constituted a crime, falsification of business records, committed by Trump to hide the fact that the hush money had protected his then-wobbling presidential candidate at a key moment.

Persons: Michael Cohen, Donald Trump, Trump's, slavishly, Trump, Cohen, Daniels, Alvin Bragg, Joe Biden Organizations: New, Manhattan District, Trump Organization, Democratic Locations: York

☆ ‘Sleeping giant’ massive black hole found in the Milky Way galaxy
▼ + stars: | 2024-04-16 | by ( Ashley Strickland | ) edition.cnn.com time to read: +5 min

CNN —Astronomers have spotted the most massive known stellar black hole in the Milky Way galaxy after detecting an unusual wobble in space. The wobbling movement of an old giant star in the Aquila constellation revealed that it was in an orbital dance with a dormant black hole, and it’s the third such dormant black hole spotted by Gaia. So Gaia BH3 is the most massive black hole in our galaxy that formed from the death of a massive star. Stellar black holes observed across the Milky Way galaxy are about 10 times as massive as the sun on average. True to expectations, the researchers found that the star orbiting Gaia BH3 was metal-poor, which means that the star that formed Gaia BH3 was likely the same.

Persons: ”, Gaia BH3, —, munch, Aquila, Gaia, Pasquale Panuzzo, BH3, hadn’t, Elisabetta Caffau, “, Carole Mundell Organizations: CNN —, Southern, Astrophysics, “, France’s National, for Scientific Research, ESO, Space Locations: Atacama, Paris, France’s

But Secretlab's Magnus Pro Standing Desk solves this problem and then some. Here's why the Secretlab Magnus Pro is one of our picks for the best standing desks you can buy. Secretlab Magnus Pro The Magnus Pro has incredibly thoughtful cable management and supportive add-ons that make it a great choice for gamers, streamers, and anyone who uses multiple monitors and accessories. Sarah Saril/InsiderIt's important to note that the Magnus Pro takes some time and energy to put together. Sarah Saril/InsiderThere's no denying that the Secretlab Magnus Pro is one of the priciest standing desks you can buy.

Persons: Secretlab's Magnus, I've, Secretlab Magnus Pro, Magnus Pro, Magnus, Sarah Saril, it's, you've, Secretlab, Magnus Pro XL, It's Organizations: Business, Magnus Pro XL, Secretlab, Cable, Magnus, Magnus Pro, Magnetic Cable

☆ Novo Nordisk stock: The company behind Ozempic and Wegovy is now bigger than Tesla
▼ + stars: | 2024-03-08 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —First, Novo Nordisk, the company behind Ozempic and Wegovy, outgrew its native Denmark. Investors rushed into Novo Nordisk’s stock after the company reported early-stage results from a trial of amycretin, an experimental weight loss drug that can be taken in pill form. Novo Nordisk, once the little-known maker of diabetes drug Ozempic, has ballooned in value as the drug’s off-label use for weight loss has spread. By contrast, shares of Novo Nordisk are up by 30% this year, and by nearly 80% over the past 12 months. The companies have cornered the global market for weight loss drugs that mimic GLP-1, a naturally-occurring hormone that suppresses appetite.

Persons: Grégoire, ”, Jens Naervig Pedersen, “, Tesla, Elon Musk’s Tesla, China’s, Eli Lilly, “ Novo, Lilly, It’s, Musk, Jeff Bezos Organizations: London CNN, Novo Nordisk, Pictet, Management, CNN, US Food and Drug Administration, Nordisk “, Danske Bank, EV, Reuters, “, Amazon, Bloomberg Locations: Novo, Denmark, Novo Nordisk’s, Danish, United States, Berlin, Germany, Europe, Pictet, EVs

☆ The commercial real estate crisis will prompt the Fed's first rate cut in May, top economist says
▼ + stars: | 2024-02-09 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Yet, nearing mission-accomplished on inflation won't be the reason the central bank cuts rates, according to one top economist. Instead, Komal Sri-Kumar, president of Sri-Kumar Global Strategies, says that the ongoing commercial real estate crisis will force the Fed to cut rates as early as May. Lessons from the 2008 crisis show that the Fed should cut sooner rather than later to avoid the worst of the pain, Sri-Kumar said. The fears stem in part from exposure to commercial real estate. "The commercial real estate problem is also now in Europe.

Persons: —, Komal, Kumar, Lehman, Janet Yellen, it's, China's, Jerome Powell, Tom Lee Organizations: Service, Sri, Kumar, Business, Lehman Brothers, York Community Bank, Evergrande Locations: China, Europe, Japan

☆ teamLab Borderless: Art collective behind some of the world’s most popular museums unveils new Tokyo project
▼ + stars: | 2024-02-07 | by ( David Mcelhinney | ) edition.cnn.com time to read: +6 min

Tokyo, Japan CNN —When art collective teamLab opened its flagship Tokyo venue, teamLab Borderless, in 2018, the group wanted it to fundamentally change the way we perceive and think about modern art. teamLab Borderless TokyoSo, it’s perhaps no surprise that a significant amount of hype surrounds the grand return of Borderless, which reopens this week in an upmarket new high-rise in Tokyo’s Azabudai district. teamLab Borderless TokyoKudo’s rhetorical style is circuitous, which is apt in a venue that eschews a linear approach to museum design. teamLab Borderless TokyoWandering around Borderless is more like “shinrin-yoku,” the Japanese art of forest bathing, whereby you let your body react to its environment so that it subconsciously directs your movements. teamLab Borderless TokyoThere may be no centerpiece at Borderless, but when another teamLab member, Sakurako Naka, opened a curtain to the new “Light Sculpture” series, she said the collective is “super excited” about this one.

Persons: teamLab Borderless, Takashi Kudo, “, …, ”, teamLab, motioning, There’s, Sakurako, Kudo Organizations: Japan CNN, Google, CNN Locations: Tokyo, Japan, Beijing, Melbourne , New York, London, Singapore, Taipei, Tokyo’s Azabudai district, ichi, Sakurako Naka

But the deal is already wobbling, as House Speaker Mike Johnson faces intense pressure from Trump and his House allies to demand more sweeping concessions from Democrats and the White House. “I do not think we should do a Border Deal, at all, unless we get EVERYTHING needed to shut down the INVASION of Millions & Millions of people,” Trump posted on social media this week. During Iowa's Republican caucuses last week, which Trump won, immigration was a top issue. They argue that the changes would actually pave the way for Trump to implement his border agenda if he wins the election. Even beyond Trump, Johnson is dealing with far-right House members who are furious over his willingness to work with Democrats to pass legislation.

Persons: Donald Trump, Mike Johnson, “, ” Trump, It's, Trump, Joe Biden, ”, Greg Abbott’s, “ It’s, Sen, Michael Bennet, “ I’m, ” Bennet, Denver Mayor Mike Johnston, we’ve, Joaquin Castro, Mitch McConnell, He's, Biden's, Oklahoma Sen, James Lankford, Lankford, Johnson, “ We’re, ” Johnson, Marjorie Taylor Greene, Greene, Biden, I’ve, Republican that’s, Jim Himes, Conn, We've, ” Himes, Lisa Mascaro Organizations: WASHINGTON, Trump, White, Republicans, Democratic, Russia, Republican, AP, Texas Gov, Colorado Democrat, Denver Mayor, Texas Democrat, U.S, Oklahoma, Republican Party, Associated Locations: Ukraine, U.S, Mexico, Colorado, United States, Texas, Israel, Trump, Iowa

☆ Office properties lead surge in commercial real estate delinquency rates
▼ + stars: | 2024-01-16 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

Delinquency rates on loans backed by office properties jumped to 6.5% in the fourth quarter, an MBA survey found. Out of all the commercial real estate loan delinquency rates tracked by the survey, office loans led the pack. AdvertisementFinancial troubles continue to plague the office market, which led an increase in commercial real estate loan delinquency rates. Zooming out, the commercial real estate sector has been in a pinch ever since interest rate hikes made borrowing money a lot more expensive. AdvertisementStill, MBA's survey found that while the office market segment of commercial real estate is still wobbling, other slices of the sector are recovering.

Persons: —, multifamily, Jamie Woodwell Organizations: Service, Financial, Mortgage Bankers Association, Capital Economics

☆ A Crusade to Help the Homeless, One Old Bike at a Time
▼ + stars: | 2024-01-13 | by ( Shannon Najmabadi | Photographs Tara Weston For The Wall Street Journal | ) www.wsj.com time to read: 1 min

RAPID CITY, S.D.—Jose Hernandez set off to work one evening in January, wobbling on a refurbished bike with a deflated tire, a bag with his valuables strapped across his back. He was headed to Burger King, where he works as a cook for about $15 an hour, often on the 5 p.m.-to-midnight shift. It is a five-minute drive from the homeless shelter where he lives. But Hernandez, 45, doesn’t have a car. So he bikes—on wheels given to him by Roberta Harmon , a street minister recognizable by her white heart-shaped glasses and fiery red hair who fixes up old bicycles for homeless people who need them to get to jobs.

Persons: — Jose Hernandez, Hernandez, Roberta Harmon Locations: wobbling, Burger

Their options include drawing up a supplementary budget for 2023 and suspending Germany's self-imposed debt brake before reinstating it for next year. "Our goal is to discuss the budget quickly but with due care," said a joint statement of ruling party lawmakers. The delay has heightened uncertainty about spending in all areas of the German economy and meant the 2024 budget might not be concluded before the end of the year. "I firmly assume that the commitments for Intel and TSMC will remain," a government source said, adding: "This is very important to the chancellor, as well as to the economy minister." This will happen in the course of next early 2024 and we will see how far hydrogen is available," CEO Miguel Lopez said.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Olaf Scholz's, Scholz's, Siegfried Russwurm, TSMC, Scholz, Miguel Lopez, Holger Hansen, Christian Kraemer, Victoria Waldersee, Andreas Rinke, Madeline Chambers, Matthias Williams, Miranda Murray, Alex Richardson, Christina Fincher Organizations: Finance, Climate, Government, Ukraine Industry, Intel, TSMC, Wednesday, Social Democrat, Greens, Free Democrats, Fund, Eurasia Group, U.S, BMW, Volkswagen, Thomson Locations: TSMC BERLIN, Germany's, Ukraine, EU, Saxony, Anhalt, Berlin, Germany

☆ Be warned: Flights are getting bumpier
▼ + stars: | 2023-11-22 | by ( Michelle Mastro | ) www.businessinsider.com time to read: +9 min

Air turbulence is becoming more common and more intense. As the jet stream buckles a bit because it's not as strong as it was in the past, now you have all this energy associated with the jet stream up 30,000 feet or so. But changes to the atmosphere mean these corridors are getting bumpier, so avoiding them could result in smoother flights. But while we can get better at avoiding air turbulence, we won't be able to avoid it altogether. That's why some companies are going back to the drawing board to design airplanes that can better adjust to turbulent air.

Persons: I'd, Isabel Smith, Smith, Paul Williams, Williams, Bill Duncan, You've, John K, didn't, Duncan, Pierre Baqué, Alyson Smith, Michelle Mastro Organizations: University of Reading, Lufthansa, Northern, The Weather Company, Denver, Airbus, National Transportation Safety Locations: Denver, Indianapolis, England, Austin , Texas, Frankfurt, Germany, Washington, Rocky, Swiss, Delta

AHMEDABAD, India (AP) — Australia won the Cricket World Cup for a record-extending sixth time Sunday, ending India’s dominant run in its home tournament with a six-wicket victory in a low-scoring final on the back of Travis Head’s 137. A heavily pro-Indian crowd inside the 132,000-capacity Narendra Modi Stadium was silenced as Head combined with Marnus Labuschagne (58 not out ) in a 192-run partnership to chase down the target of 241. Head was dismissed off what proved to be the next-to-last ball of the match, caught in the deep while attempting to hit a title-clinching boundary. In came Glenn Maxwell and he ran two off his first ball, securing a victory that prompted fireworks above the world’s largest cricket venue. Australia finished the tournament with a run of nine straight wins, after starting with back-to-back defeats to India and South Africa.

Persons: Travis Head’s, Narendra Modi, Marnus Labuschagne, Glenn Maxwell, Virat Kohli, Lokesh Rahul, Ricky Ponting, Adam Gilchrist –, Rohit Sharma, ___ Organizations: — Australia, Cricket, Indians Locations: AHMEDABAD, India, Australia, South Africa

A U.S. foreign development agency announced on Wednesday it would lend $553 million to establish a deepwater shipping-container terminal at the Port of Colombo in Sri Lanka, expanding America’s effort to finance infrastructure around strategic parts of Asia. Adani will help develop the terminal with Sri Lankan partners. The money from the U.S. International Development Finance Corporation resembles the kind of big-ticket deals that China’s development banks have struck around the world over the past decade. Under its Belt and Road Initiative, central to the foreign policy of President Xi Jinping, China made loans to build up ties around Asia, including in Sri Lanka. The Development Finance Corporation was created during the Trump administration to bankroll international infrastructure projects, cooperating with the State Department to support U.S. foreign policy and curb Chinese influence.

Persons: Narendra Modi, Adani, Xi Jinping, Trump Organizations: Port, Adani, Sri, U.S . International Development Finance Corporation, Initiative, Development Finance Corporation, State Department Locations: Colombo, Sri Lanka, Asia, India, China, United States

Bank of Japan Governor Kazuo Ueda attends a press conference after its policy meeting in Tokyo, Japan October 31, 2023, in this photo taken by Kyodo. In addition, interest rate changes were asymmetric — Fed rate hikes following stock market recoveries were usually muted compared with the initial cuts. This was an explicit, open-ended policy to hold the currency at a set level and flood the Swiss economy and markets with oceans of liquidity, but essentially still a central bank put. As Marc Chandler at Bannockburn Global Forex points out, it is financial stability that is ultimately - and rightly - at the heart of the so-called central bank put. "There is a perception or myth that has built up around the central bank put.

Persons: Kazuo Ueda, Alan Greenspan, Louis, William Poole, Greenspan, Steven Englander, Marc Chandler, Chandler, Jonathan Oatis Organizations: Japan, Kyodo, REUTERS Acquire, Rights, Bank of Japan, Federal Reserve, Louis Fed, Swiss National Bank, Standard Chartered, National Bureau of Economic Research, Swiss, Reuters, Bannockburn Global, Thomson Locations: Tokyo, Japan, Rights ORLANDO , Florida, New York, Switzerland, Swiss, Bannockburn

☆ China's economy stumbled again in recent months with factory activity falling and foreign investment plunging 34%
▼ + stars: | 2023-10-31 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

China's economy has stumbled since coming out of the country's COVID-19 lockdown late last year. Factory activity declined in October, while foreign investment tumbled 34% in September. Experts say the nation is at risk of a debt-deflation crisis that could produce a "lost decade" for its economy. AdvertisementAdvertisementData from September and October show China's economy stumbling further, with factory activity falling and foreign investment seeing a significant decline. Factory activity dropped through the month of October, with China's manufacturing purchasing managers' index falling to restrictive territory at 49.5.

Persons: — Organizations: Service, China's Commerce Ministry, Ministry, CSI Locations: China, Beijing, freefall

☆ Argentina's Peronists soar in election to seal run-off with radical Milei
▼ + stars: | 2023-10-23 | by ( ) www.cnbc.com time to read: +4 min

Javier Milei, presidential candidate of the Liberty Advances coalition, speaks at his campaign headquarters after polls closed for general elections in Buenos Aires, Argentina, Oct. 22, 2023. Argentina's ruling Peronist coalition smashed expectations to lead the country's general election on Sunday, setting the stage for a polarized run-off vote next month between Economy Minister Sergio Massa and far-right libertarian radical Javier Milei. "We have never had so much polarization," said 72-year-old pensioner Silvia Monto as she voted in Buenos Aires on Sunday. "He is the only one who understands the situation in the country and understands how to save it," said Buenos Aires student Nicolas Mercado, 22. Silvana Dezilio, 37, a housewife in Buenos Aires province, said it was hard to see a positive outcome whoever won.

Persons: Javier Milei, Argentina's, Sergio Massa, Massa, Patricia Bullrich, Milei, Carlos Gutierrez, Bullrich, Silvia Monto, Nicolas Mercado, Silvana Dezilio Organizations: Liberty Advances, Peronist, International Monetary Fund Locations: Buenos Aires, Argentina, Milei, China, Brazil

☆ Argentina Heads to the Polls in Grip of Fierce Economic Crisis
▼ + stars: | 2023-10-22 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +3 min

Milei, pledging to "chainsaw" the economic and political status quo, is the candidate to beat, with angry voters flocking to his tear-it-all-down message, fed up with inflation at 138% and poverty affecting over two-fifths of the population. Amid this crisis Milei has risen abruptly, pledging shock therapy to fix the economy including dollarizing, shutting the central bank, slashing the size of government drastically and privatizing state entities. Massa, current economy chief, remains in the running despite overseeing inflation hitting triple digits for the first time since 1991. He is pledging to cut the fiscal deficit, stick with the peso and defend the Peronist social welfare safety net. Pollsters see her as the most likely of the top three runners to miss out on a second round.

Persons: Argentina's, Javier Milei, Sergio Massa, Patricia Bullrich, Milei, Federico Aurelio, Donald Trump, Jair Bolsonaro, Massa, Bullrich, Nicolas Mercado, Flavia Vázquez, Pollsters, Nicolas Misculin, Adam Jourdan, Chizu Organizations: Reuters, American, Peronist Economy, International Monetary Fund Locations: Misculin BUENOS AIRES, China, Brazil, Buenos Aires

☆ Argentina heads to the polls in grip of fierce economic crisis
▼ + stars: | 2023-10-22 | by ( Nicolás Misculin | ) www.reuters.com time to read: +3 min

Workers load ballot boxes and voting material into a truck, ahead of the presidential election, in Buenos Aires, Argentina October 21, 2023. Milei, pledging to "chainsaw" the economic and political status quo, is the candidate to beat, with angry voters flocking to his tear-it-all-down message, fed up with inflation at 138% and poverty affecting over two-fifths of the population. Massa, current economy chief, remains in the running despite overseeing inflation hitting triple digits for the first time since 1991. He is pledging to cut the fiscal deficit, stick with the peso and defend the Peronist social welfare safety net. Pollsters see her as the most likely of the top three runners to miss out on a second round.

Persons: Mariana Nedelcu, Argentina's, Javier Milei, Sergio Massa, Patricia Bullrich, Milei, Federico Aurelio, Donald Trump, Jair Bolsonaro, Massa, Bullrich, Nicolas Mercado, Flavia Vázquez, Pollsters, Nicolas Misculin, Adam Jourdan, Chizu Organizations: REUTERS, American, Peronist Economy, International Monetary Fund, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, China, Brazil

☆ Cryptoverse: Winter is coming as ether funds flounder in fall
▼ + stars: | 2023-10-17 | by ( Lisa Pauline Mattackal | ) www.reuters.com time to read: +4 min

"The timing of the futures ETFs could hardly be worse," said Vetle Lunde, senior analyst at K33 Research. Trading volumes for the ether futures ETFs remained below $2 million on their first day, according to K33 Research. Trading volumes of six exchange-traded funds tracking ether made a subdued start after launching on Oct. 2BACK TO BITCOIN? The newly launched ETFs tracking solely ether futures on the Chicago Mercantile Exchange, from ProShares (EETH.P), VanEck and Bitwise (AETH.P), have all dipped over 6% since launch. ProShares and Bitwise also launched funds tracking a mixture of bitcoin and ether futures, while Valkyrie Funds converted its pure-play bitcoin ETF into one with exposure to both bitcoin and ether (BTF.O).

Persons: Bitcoin, Dado, Vetle Lunde, murkier, Lunde, Ben McMillan, McMillan, Bitwise, IDX, Lisa Pauline Mattackal, Sumanta Sen, Tom Wilson, Pravin Organizations: REUTERS, K33 Research, IDX, Federal, Chicago Mercantile Exchange, Thomson, Reuters Locations: Ukraine, ProShares, Bengaluru

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