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For two decades, President Recep Tayyip Erdogan has loomed large over Turkish politics. But skyrocketing inflation and a devastating earthquake have eroded his power and, in a presidential election over the weekend, he was forced into a runoff. Ben Hubbard, The Times’s Istanbul bureau chief, discusses how Turkey’s troubles have made Mr. Erdogan politically vulnerable.

☆ Singapore's sovereign wealth fund is looking to invest more in the secondary market, as other VC funds look to sell
▼ + stars: | 2023-05-15 | by ( Alistair Barr | ) www.businessinsider.com time to read: +2 min

GIC, Singapore's sovereign wealth fund is keen on doing more in the secondary market, where private stakes in startups and VC funds change hands. That means there's pressure on distributions, which is the cash returned to VC and startup investors. GIC has a private-equity team that specializes in the secondary market. There's been a growing number of secondary funds and exchanges that help founders, employees, and even investors and VC funds sell their startup shares. So as some VC funds look to sell in the secondary market now, GIC has more freedom to be a buyer.

☆ Chinese company earnings reveal lopsided economic recovery
▼ + stars: | 2023-05-10 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

Restaurants and tourism businesses recovered, with travel-related consumer services sector earnings surging 155%, data from China International Capital Corp (CICC) showed. Food-and-beverage sector earnings jumped 18% and automobiles were up a smaller 8%. Several analysts believe the first quarter will be the low point for 2023 and full-year earnings will reach double digits. Refinitiv data forecasts full-year earnings growth of 26% for companies listed on the Shanghai Stock Exchange. The materials sector posted the worst results, with earnings in steel and building materials tumbling more than 60%, respectively.

This episode contains detailed descriptions of sexual assault. A jury in Manhattan has found former President Donald J. Trump legally liable for sexually abusing and defaming the writer E. Jean Carroll. Ben Weiser, who covers the Manhattan federal courts for The Times, tells the story of how a nearly 30-year-old case reached this moment.

☆ Oil prices ease in cautious trade ahead of US inflation data
▼ + stars: | 2023-05-09 | by ( Emily Chow | ) www.reuters.com time to read: +2 min

TOKYO, May 9 (Reuters) - Oil prices fell on Tuesday, relinquishing some of the strong gains of the previous two sessions with the market cautious ahead of U.S. inflation figures for April, which will be key to the Federal Reserve's next interest rate decision. "Oil prices have rebounded somewhat in the last two sessions, so now is time for a pause ... with no real positive data coming out," said Suvro Sarkar, lead energy analyst at DBS Bank. "The market is cautious today ahead of the inflation data.... With net long positions declining sharply over the last two weeks, a lot of traders are already out of the market, so volumes are low." "If tomorrow's CPI data remains at around 5% by market consensus, and if the core CPI does not drop significantly, it will likely continue to support the rise in oil prices," said CMC Markets analyst Leon Li. While oil markets fell sharply last week, prices rose on Friday and Monday as fears of recession eased in the U.S., the world's biggest oil consumer, and some traders saw crude's three-week slide on demand worries as overdone.

TOKYO, May 9 (Reuters) - Oil prices fell on Tuesday, relinquishing some of the strong gains in the previous two sessions while the market remained cautious ahead of U.S. inflation figures for April, which will be key to the Federal Reserve's next interest rate decision. "Oil prices have rebounded somewhat in the last two sessions, so now is time for a pause ... with no real positive data coming out," said Suvro Sarkar, lead energy analyst at DBS Bank. "The market is cautious today ahead of the inflation data.... With net long positions declining sharply over the last two weeks, a lot of traders are already out of the market, so volumes are low." While oil markets fell sharply last week, prices rose on Friday and Monday as fears of recession eased in the U.S., the world's biggest oil consumer, and some traders saw crude's three-week slide on demand worries as overdone. "Oil prices won't be able to rise that much from here given all the growth demand fears, but expectations are high for OPEC+ to try to keep prices above the $70 a barrel level," Moya's note said.

☆ How Singapore's giant sovereign wealth fund is investing in generative AI technology
▼ + stars: | 2023-05-09 | by ( Alistair Barr | ) www.businessinsider.com time to read: +4 min

As CEO of GIC, Singapore's sovereign wealth fund, he must keep the country's savings growing ahead of inflation. AI retoolingThe 2 investors were most animated when discussing the recent explosion of generative AI technology, including large language models. Chris Emanuel, head of the Technology Investment Group at GIC, Singapore's sovereign wealth fund GICThere's already a generative AI startup feeding frenzy among venture capital funds. Secondary market actionFinally, GIC is keen on doing more in the secondary market, where private stakes in startups and VC funds change hands. That means general partners, the people running VC funds, already know GIC and are more comfortable dealing with the organization, Lim explained.

Debate about ethical standards for Supreme Court justices has intensified after a series of revelations about undisclosed gifts, luxury travel and property deals. Adam Liptak, who covers the court for The Times, reviews the allegations of misconduct and the growing calls to do something about it.

☆ Oil slips on weak China demand fears, U.S. rate rise forecast
▼ + stars: | 2023-05-02 | by ( Emily Chow | ) www.reuters.com time to read: +3 min

"The downside pressure on oil is that China's economic recovery is not really promising, clouding the demand outlook on fuel consumption," said Tina Teng, an analyst at CMC Markets. China's manufacturing activity unexpectedly fell in April, official data showed on Sunday, the first contraction since December in the manufacturing purchasing managers' index. China's industrial and economic recovery from the coronavirus pandemic was expected to boost demand this year. Despite China's weak manufacturing data, there are positive signs of recovery based on spending during the five-day Labour Day holiday in the world's largest oil importer, said analysts in an ANZ Research note. Interest rate increases by inflation-fighting central banks could impact oil by slowing economic growth and denting energy demand.

Brent crude was up by 7 cents to $79.38 a barrel by 0425 GMT, while U.S. West Texas Intermediate (WTI) crude rose 11 cents to $75.77 a barrel. China's manufacturing activity unexpectedly fell in April, official data showed on Sunday, the first contraction since December in the manufacturing purchasing managers' index. China's industrial and economic recovery from the coronavirus pandemic was expected to boost demand this year. "Crude oil fell after weak economic data from China raised concerns about a patchy recovery," said analysts in an ANZ Research note, referring to China's manufacturing activity data. Meanwhile, a Monday poll showed that U.S. crude oil stockpiles are expected to have fallen for a third consecutive week, providing some support to the market.

On Monday morning, the federal government took over a third failing bank — this time, First Republic. Jeanna Smialek, an economy correspondent for The Times, discusses whether we are at the end of the banking crisis or the start of a new phase of financial pain.

☆ YouTube offered shopping features for viewers to buy merch during the Coachella livestream event, part of its continued testing in the space
▼ + stars: | 2023-04-26 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +3 min

YouTube sold merch virtually during the official Coachella livestream event. Viewers could purchase the merch exclusively through YouTube Shopping. YouTube Shopping partnered with Coachella to sell exclusive merch during the platform's annual livestream event. The Coachella products were made available for purchase directly on the livestream and through YouTube shorts on Coachella's YouTube channel. Alphabet execs mentioned YouTube's shopping efforts during its Q1 earnings call on Tuesday, highlighting that there were more than 100,000 stores connected to sell products on YouTube Shopping.

☆ 478 tornado reports across 25 states: How a mild winter led to destruction
▼ + stars: | 2023-04-06 | by ( Denise Chow | Nigel Chiwaya | ) www.cnbc.com time to read: +2 min

There have been at least 478 tornado reports this year across 25 states as of Wednesday, according to the National Weather Service. Only 2017, with 503 tornado reports, and 2008, with 523, had more at this point in the year. The southern part of the U.S. was not particularly cold this winter." This dynamic is why tornadoes in the South occur more commonly in the cooler months, from late fall through winter and into early spring. These storms are also projected to hit Southern states like Alabama, Mississippi and Tennessee more frequently in the future, according to the research.

☆ A judge warned Trump about comments that could 'jeopardize the safety or well-being' of others. 6 hours later, he attacked the judge, the judge's wife, and the judge's daughter.
▼ + stars: | 2023-04-05 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Donald Trump started attacking the family of the judge presiding over his indictment in New York. Trump called Judge Juan Merchan and his family "Trump-hating" on Tuesday evening. Hours before, the judge warned him not to make remarks that could jeopardize the safety of others. Trump's comments blasting Merchan came six hours after Merchan warned the former president not to make comments likely to "jeopardize the safety or well-being of any individuals." That didn't stop Trump from slamming Merchan and his family hours later.

☆ An all-female lizard species that reproduces asexually stress-eats to cope with the deafening racket of jets at a nearby military base
▼ + stars: | 2023-04-04 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +5 min

Noise pollution from aircraft flyovers at Fort Carson in Colorado piqued the reptiles' anxiety. The rare, all-female species, which reproduce asexually, live exclusively in Colorado and boast long, thin tails, giving them their name. Researchers zeroed in on a collection of the reptiles located near Colorado Springs at the Fort Carson US military installation. A Javelin missile fired by soldiers with the 2nd Stryker Brigade Combat Team heads toward a target during a live-fire training exercise on April 28, 2022 in Fort Carson, Colorado. "Behavioral responses to noise pollution often translate into stress responses, as loud noises increase cortisol levels in several species," the study authors wrote.

☆ I started my online makeup business with no money and made $97,681 in sales last year. The key to my success was turning disappointments into opportunities.
▼ + stars: | 2023-03-31 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +4 min

In 2020, Janet Leyva used a credit card to start her lash and makeup business. Today, it's easier than ever to start your own business or side hustle because all the tools you need are online. Last year, she generated $84,074 in online sales and $13,607 in vending-machine sales, amounts Insider verified with documentation. I started a side hustle that turned into my own businessLeyva Beauty vending machines sell lashes and makeup. Leyva Beauty started with just lashes because that's the only thing I could afford, but little by little, I started adding cosmetics.

[1/3] Former Vice-Chairman of the Hong Kong Alliance in Support of Patriotic Democratic Movements of China, Albert Ho, walks after his arrest by police, in Hong Kong, China March 21, 2023. REUTERS/Tyrone SiuHONG KONG, March 21 (Reuters) - Hong Kong police on Tuesday arrested a veteran pro-democracy politician who was granted bail last August for medical treatment after spending more than a year in detention on a subversion charge. He was granted bail last August, with media reporting at the time he needed medical treatment for lung cancer. She was charged with collusion with foreign forces and granted bail. Chinese and Hong Kong officials deny that and say foreign interference is endangering the financial hub's stability and prosperity.

Oil prices rebounded as Wall Street posted gains. Earlier, Brent and WTI fell about $3 a barrel to the lowest since December 2021, with WTI sinking below $65 a barrel at one point. After the deal was announced, the U.S. Federal Reserve, European Central Bank and other major central banks pledged to enhance market liquidity and support other banks. "There's a lot of fear-based movement (in oil prices)," Price Futures Group analyst Phil Flynn said. Some executives are calling on the central bank to pause its monetary policy tightening but be ready to resume raising rates later.

The U.S. West Texas Intermediate crude contract for April was down 28 cents at $66.46 before its expiry on Tuesday. "There's a lot of fear-based movement (in oil prices)," Price Futures Group analyst Phil Flynn said. "We're not moving at all on supply and demand fundamentals, we're just moving on the banking concerns." On Monday, the S&P 500 and the Dow Jones gained, helping lift oil prices off the day's lows. The group agreed in October to cut oil production targets by 2 million barrels per day until the end of 2023.

☆ Oil falls more than $2 on banking concerns, likely Fed rate hike
▼ + stars: | 2023-03-20 | by ( Emily Chow | ) www.reuters.com time to read: +3 min

Brent crude futures for May settlement fell $2.32, or 3.2%, to $70.65 a barrel at 0710 GMT. Last week, Brent fell nearly 12%, its biggest weekly fall since December. A slowdown in interest rate hikes could depress the greenback, making dollar-denominated commodities like crude oil more affordable for holders of other currencies. "Volatility is likely to linger this week, with broader financial market concerns likely to remain at the forefront. Separately, Goldman Sachs cut its forecasts for Brent crude after prices plunged on banking and recession fears.

The slide in oil comes despite a historic deal which will see UBS, Switzerland's largest bank, buying the country's No. "The market focus is on current banking sector volatility and the potential for further rate hikes by the Fed," said Baden Moore, National Australia Bank's head of commodity research. A slowdown in interest rate hikes could depress the greenback, making dollar-denominated commodities like crude oil more affordable for holders of other currencies. "The U.S. Fed will be most important institution to watch this week," said Commonwealth Bank of Australia analyst Vivek Dhar in a note. Separately, Goldman Sachs cut its forecasts for Brent crude after prices plunged on banking and recession fears.

☆ Oil hits lowest since 2021 on banking fears
▼ + stars: | 2023-03-20 | by ( Noah Browning | ) www.reuters.com time to read: +2 min

Brent and WTI earlier hit lows last registered in December 2021, with WTI sinking below $65 a barrel. After the deal was announced, The U.S. Federal Reserve, European Central Bank and other major central banks pledged to enhance market liquidity and support other banks. "The market focus is on current banking sector volatility and the potential for further rate hikes by the Fed," said Baden Moore, National Australia Bank's head of commodity research. However, some executives are calling on the central bank to pause its monetary policy tightening for now but be ready to resume raising rates later. The group agreed in October to cut oil production targets by 2 million barrels per day until the end of 2023.

☆ Fact Check-No evidence that Donald Trump insulted his inner circle on social media
▼ + stars: | 2023-03-17 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

An image of what appears to be a social media message from former U.S. President Donald Trump insulting members of his inner circle has been circulating online. But the message does not come up in searches of Trump’s actual account on his Truth Social platform. The message does not come up in searches of Trump’s Truth Social account (here) or his official website (www.donaldjtrump.com/news), or archived versions of the website (here), (here) and the Truth Social account (here), (here) . A search through Trump spokesperson Liz Harrington’s Twitter account did not reveal the post (twitter.com/realLizUSA). Read more about our work to fact-check social media posts (here).

☆ A 5,000-mile blanket of seaweed that can be seen from space threatens the beaches of Florida
▼ + stars: | 2023-03-15 | by ( Isobel Van Hagen | ) www.businessinsider.com time to read: +3 min

This year's seaweed bloom of 'Great Atlantic Sargassum Belt' is one of the largest on record. It is the largest seaweed bloom in the world — weighing approximately 20 million tons — and is visible from outer space. "It's incredible," Brian LaPointe, a research professor at Florida Atlantic University's Harbor Branch Oceanographic Institute, told NBC News. Workers who were hired by residents remove sargassum seaweed from the Bay of Soliman, north of Tulum, Quintana Roo state, Mexico, Wednesday, Aug. 3, 2022. "I think I've replaced my climate change anxiety with sargassum anxiety," Patricia Estridge, CEO of Seaweed Generation, told The Guardian.

Oil prices dropped alongside a continued slide in equities markets (.MIWD00000PUS). A lower rate rise could mean the dollar weakening which in turn is a bullish signal for oil prices. A stronger-than-expected U.S. consumer inflation outcome could put further downward pressure on oil prices. Meanwhile, consumer inflation in China, the world's biggest oil importer, slowed to the lowest rate in a year in February. IEA/SOn the supply side, the American Petroleum Institute is expected to release industry data on U.S. oil inventories at 1630 ET/2030 GMT.

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