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The Industrial and Commercial Bank of China, China Construction Bank, and Bank of China have stopped the transactions since the start of 2024, Alexey Poroshin, the general director of investment and consulting firm First Group, told Izvestia. In December, the US also authorized secondary sanctions targeting financial institutions that help Russia skirt sanctions. Chinese banks are tightening compliance checks with Russian businesses because they fear getting caught up in the West's increasingly restrictive sanctions regime against Russia over its invasion of Ukraine. Industrial and Commercial Bank of China, China Construction Bank, and Bank of China did not immediately respond to a request for comment from Business Insider. In particular, Russian firms trading internationally have become more dependent on Chinese institutions and the Chinese yuan since some Russian banks withdrew from the SWIFT global financial-messaging system .
Persons: , Alexey Poroshin, Poroshin, Dmitry Peskov Organizations: Russia, Service, Commercial Bank of, China Construction Bank, Bank of, First Group, Union, Industrial, Bank of China, Business, SWIFT Locations: Russia, Commercial Bank of China, China, Bank of China, , Ukraine, India, West, Beijing
Hedge fund ExodusPoint has closed its Paris office. The closure of the Paris unit, which included a sizable quant trading team, began in late 2023. AdvertisementTwo years ago, hedge fund ExodusPoint was ramping up its presence in Paris — bullish on the French capital like some of its peers. Michael Gelband's $12 billion multi-strategy fund recently closed its Paris location, according to people familiar with the matter, a process that began in late 2023. This story is available exclusively to Business Insider subscribers.
Persons: ExodusPoint, , bullish, Michael Gelband's Organizations: Service, Business Locations: Paris, revoir
MUNICH — After months of requests from Ukrainian officials, the Biden administration is working toward providing Ukraine with powerful new long-range ballistic missiles, according to two U.S. officials. It's to hit deep into the occupied territories, bypassing Russian radio electronic warfare and interceptors," he said, referring to long-range ATACMS. "If you want to hit behind the lines, disrupt their logistics and supplies, destroy their depots of ammunition, you can do it only with long-range missiles," he said. The Biden administration has resisted sending the long-range missiles over the past two years because officials worried Ukraine would use them to strike inside Crimea or Russia and cause Russian President Vladimir Putin to escalate the conflict. "Every advance Russia makes in Ukraine brings Russian weapons closer to the home of a middle-class European."
Persons: Biden, Donald Trump, Trump, Dmytro Kuleba, Antony Blinken, Blinken, Kuleba, It's, Vladimir Putin Organizations: Army Tactical Missile Systems, Republican, GOP, Trump Republicans, Senate, Republicans, Democrats, Senate . Defense, NBC News, Defense Department, U.S, Pentagon Locations: Ukrainian, Kreminna, Donetsk Oblast, Ukraine, MUNICH, U.S, Russian, Crimean, Israel, Taiwan, Munich, Crimea, Russia, White, Europe, Avdiivka
CNN —A European Space Agency satellite is expected to reenter and largely burn up in Earth’s atmosphere on Wednesday morning. The agency’s Space Debris Office, along with an international surveillance network, is monitoring and tracking the Earth-observing ERS-2 satellite, which is predicted to make its reentry at 6:14 a.m. The exact time of the satellite’s reentry remains unclear due to the unpredictability of solar activity, which can change the density of Earth’s atmosphere and how the atmosphere tugs on the satellite. The ERS-2 satellite has an estimated mass of 5,057 pounds (2,294 kilograms) after depleting its fuel, making it similar in size to other space debris that reenters Earth’s atmosphere every week or so, according to the agency. ERS-2’s backstoryThe Earth-observing ERS-2 satellite first launched on April 21, 1995, and it was the most sophisticated satellite of its kind at the time to be developed and launched by Europe.
Persons: Aeolus Organizations: CNN, European Space Agency, ESA, ERS Locations: Europe
Special counsel David Weiss blew through one of the key pieces of evidence House Republicans have held against Biden. AdvertisementA stunning indictment has undermined one of the key pieces of evidence some GOP lawmakers have cited in their impeachment push against President Joe Biden. Top House Republicans have cited the previously unknown informant's allegations for months as evidence for their views about the "Biden crime family." Some Republicans were already warning that their Biden impeachment push was going nowhere even before the latest setbacks. The outlet reported that roughly 20 Republicans were not convinced there was sufficient evidence to impeach Biden.
Persons: David Weiss, Weiss, Biden, Trump, , Joe Biden, Hunter Biden, Obama, Alexander Smirnov, James Comer, Comer, Sen, Chuck Grassley, Hunter, Donald Trump's, Smirnov, George Santos, Mike Johnson, Alejandro Mayorkas, Mayorkas, Tom Suozzi, Santos, Ken Buck, Buck, Donald Trump, impeaching Biden, weaponizing Organizations: Republicans, Biden, FBI, Service, Prosecutors, Top, Iowa Republican, CNN, GOP, Homeland, Democratic, Colorado Republican, DOJ, DAs Locations: Ukrainian, Iowa, York, Colorado, South Carolina
Read previewRussia seems to be in a better position to launch a future attack on a NATO member state, despite its performance in Ukraine, a European defense official told Business Insider. Russia failed to take Ukraine's capital, Kyiv, early in its invasion, despite its much larger and better-supplied military. AdvertisementGermany's defense minister, Boris Pistorius, said last month that Russia could attack a NATO country within the next five to eight years. And Denmark's defense minister, Troels Lund Poulsen, also warned this month that Russia could attack a member within the next five years. Urbelis said that Russia's invasion of Ukraine has strengthened NATO, but urged members to ramp up their defense efforts.
Persons: , Vaidotas Urbelis, Urbelis, Boris Pistorius, Troels Lund Poulsen, it's Organizations: Service, NATO, Business, EU Locations: Russia, Ukraine, Lithuania, Belarus, Russian, Kyiv, Soviet Union, Europe
CARACAS, Venezuela (AP) — The government of Venezuela accused neighboring Guayana Sunday of granting illegal oil exploration concessions in territory the two nations are disputing. The comments Sunday came after Guyana said Saturday that it has satellite imagery showing Venezuelan military movements near the South American country’s eastern border with Guyana. Venezuela has been laying claim to the mineral-rich Essequibo region, which covers about two thirds of Guyana’s surface area. But for more than 60 years Venezuela has accused the commission of cheating it out of the Essequibo region. Several top American administration and military officials have visited Guyana in recent weeks as a show of support.
Persons: Guayana, Vincent, Robert Persaud, Irfaan Ali, Nicolás Maduro Organizations: , ExxonMobil, Argyle, US Center for Strategic, International Studies, Venezuelan Locations: CARACAS, Venezuela, Guyana, Essequibo, Caribbean, St, Brazil, Punta Barima, Netherlands, U.S
MOSCOW (Reuters) - Russian Defence Minister Sergei Shoigu said in footage published by his ministry on Saturday that the country's production of military drones had ramped up in the past year, though certain technical issues still needed tackling. Russia has made extensive use of drones in the course of the almost two year-long military campaign in Ukraine, but has often had to rely on cheap Iranian-made Shahed drones. "The production capacities that have been created allow us to complete most of the tasks that we are faced with today," Shoigu said during a tour of drone production facilities in the Volga river region of Udmurtia. He was shown telling a meeting of officials that issues related to the use of artificial intelligence (AI) in drones and electronic warfare still needed to be resolved. The Latest Photos From Ukraine View All 91 ImagesMoscow has in recent months been signalling that its military industrial complex has stepped up production, as Russia seeks to break months of military deadlock in Ukraine.
Persons: Sergei Shoigu, Shoigu, Felix Light, Helen Popper Organizations: Russian Defence, Reuters Locations: MOSCOW, Russia, Ukraine, Udmurtia, Moscow
TAIPEI, Taiwan (AP) — With fireworks, feasts and red envelopes stuffed with cash for the kids, numerous Asian nations and overseas communities have welcomed Saturday the Lunar New Year. It begins with the first new moon of the lunar calendar and ends 15 days later on the first full moon. Firing bottle rockets and other fireworks is a traditional way of welcoming the new year and seeing off any lingering bad memories. Royal palaces and other tourist sites were also packed with visitors wearing the country’s colorful traditional “hanbok” flowing robes. Parades and commemorations are also being held in cities with large Asian communities overseas, particularly in New York and San Francisco.
Persons: Lai Ching, Han Kuo, Tsai, , ” Tsai, Yoon Suk Yeol Organizations: Nationalist Party Locations: TAIPEI, Taiwan, China, Seoul, Southern, Paju, North Korea, Vietnam, New York, San Francisco
CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. It's been widely reported over the last year that ULA parent companies Boeing and Lockheed Martin are considering offloading the rocket business. That's despite the successful debut of ULA's Vulcan rocket in early January, which I assumed would galvanize a sale. In the meantime, I've been curious to understand how ULA's sale is likely to play out. Boeing and Lockheed Martin are, and have been, looking to sell the rocket business for some time.
Persons: CNBC's Michael Sheetz, It's, Lockheed Martin, ULA, Tory Bruno, Jeff Bezos, hasn't, I've, it's Organizations: Boeing, Lockheed, Origin, Textron, SpaceX, U.S ., Glenn, Vulcan Locations: ULA
One key Chinese bank used by Russian importers for transactions has halted all transactions with Russian firms, per Vedomosti. AdvertisementChina's banks appear to be having cold feet about dealing with Russian firms. AdvertisementOther Chinese banks are also tightening compliance checks when dealing with Russian businesses, per the media outlet. However, with the West ramping up sanctions against Russia, even Chinese firms are trying to stay out of trouble. In June, at least one major Chinese bank — Bank of China — started restricting transfers from Russia.
Persons: , Dmitry Peskov, Peskov, — Bank of China — Organizations: Service, Commercial, Bank, SWIFT, Russia, Bloomberg, — Bank of, Zhejiang Chouzhou Commercial Bank, Business Locations: Ukraine, Beijing, Zhejiang, Russian, AFP, Russia, — Bank of China, Zhejiang Chouzhou
Six decades later, plans are ramping up for space tourism, missions to the moon and Mars, and mining on the moon. AdvertisementThe Lunar Resources Registry, a private business that locates valuable resources on the moon and helps investors conduct the required exploration and extraction operations, notes: "The space race is evolving into space industrialization." The case for a lunar Anthropocene is interesting. A lunar AnthropoceneAnd now the Anthropocene, this age of human impact, is also arriving on the moon. An increasing number of moon missions and extracting resources from the moon could destroy lunar environments.
Persons: Christophe Bonneuil, Jean, Baptiste Fressoz, Christine Daigle, Jennifer Ellen Good Organizations: Sputnik, U.S, Resources, NASA, Marshall Space, Brock University Locations: Soviet Union, Alamogordo, N.M
Russia is generating 100+ tanks a month, largely replacing its battlefield losses, UK intel said. Nicholas Drummond, a defense analyst, agreed, telling BI that Russia is relying on older models as its ability to produce new ones is limited. AdvertisementBut Drummond is skeptical that Russia can even make battle-ready 100 of the older tanks a month. Ramping up productionRussia has seemingly been increasing its output of new tanks, while still relying on older models. AdvertisementBut another expert said these older tanks can still create a problem for Ukraine.
Persons: , William Alberque, Nicholas Drummond, DIMITAR DILKOFF, Drummond, George Barros, Russia's, Oleksii, It's, Alberque, Rajan Menon, Menon, it's Organizations: intel, Service, UK Ministry of Defence, International Institute for Strategic Studies, Getty, Institute for, Anadolu Agency, Getty Images, Defense Locations: Russia, Ukraine, Russian, AFP, Dmytrivka, Kyiv region, Getty Images Russia, Ukrainian
Jefferies initiates Sprout Social as buy Jefferies said the social media software provider is a market leader. Morgan Stanley names Huntington Bancshares a top pick Morgan Stanley said it likes the regional bank's low exposure to commercial real estate. Morgan Stanley reiterates Nvidia as overweight Morgan Stanley raised its price target on Nvidia to $750 per share from $603. Morgan Stanley downgrades Aptiv to underweight from equal weight Morgan Stanley said it sees slowing growth for the automotic tech company. Jefferies initiates ZoomInfo as buy Jefferies initiates the software data company with a buy and says it sees new customer growth.
Persons: Redburn, Key, it's, Gordon, Gordon Haskett, Jefferies, Steven Madden, Morgan Stanley, Huntington, Morgan Stanley downgrades Aptiv, Piper Sandler, Piper, Davidson, Goldman Sachs, Goldman, DA Davidson, it's bullish, Oppenheimer Organizations: Services, Bank of America, Google, Leerink, SPT, Citi, JPMorgan downgrades New York Community Bancorp, JPMorgan, Jefferies, Nvidia, Crown Holdings, Holdings, Civitas Resources, Corp, Vans, VF Corp, Bank of America downgrades, York Community Bancorp, New, Apple, Apple's Locations: F24E, New York
The Miami Beach Edition hotel on Collins Avenue, where conferences for Goldman parnters are being held. Inside the Edition Hotel in Miami, which is playing host to the Goldman Sachs partner conference this week. The Faena Hotel along Collins Avenue is also playing host to some Goldman partners and events this week. A spokesperson for Goldman Sachs declined to comment about the Miami gathering this week. Are you a Goldman Sachs or Wall Street insider?
Persons: Goldman Sachs, confab, , Goldman, Denis Coleman, Avinash, Goldman parnters, Emmalyse, David Solomon, Solomon, Lloyd Blankfein, he's, Reed Alexander Big, Solomon —, John Waldron —, Solomon himself, Emmalyse Brownstein Goldman, George Lee, Alison Mass, Trevor Noah, decamped, Reed Alexander Organizations: Magic City, Miami Beach, Business, Wall Street Journal, Goldman, Wall Street Locations: New York, London, Miami, Collins, New York City, South Florida, ralexander@businessinsider.com
Ukraine is creating a new military branch for drone warfare, Volodymyr Zelenskyy said. A military expert said it's likely the first time a country has set up a separate drone branch. AdvertisementUkraine is creating a new branch of its military dedicated to drone warfare. Ukraine has regularly used drones to take out Russian tanks, bomb trenches, hit equipment stores, and target soldiers. But drone warfare in Ukraine is not one-sided.
Persons: Volodymyr Zelenskyy, it's, , he'd, Zelenskyy, Bruce Riedel, Mykhailo Fedorov, Sergei Shoigu, James Patton Rogers Organizations: Service, Defense Forces —, Unmanned Systems Forces, Ukraine's National Security and Defense, Brookings Institution, NBC, Digital Transformation, Russia's, Cornell Brooks Tech Policy Institute Locations: Ukraine, Ukrainian, Russia
Siemens Energy swung to profit in its first fiscal quarter on the back of a surge in orders and a one-off gain from selling a stake in its Indian affiliate to parent company Siemens . The German renewables firm reported a 1.58 billion euro ($1.7 billion) net profit, driven by the sale of its 18% stake in India's Siemens Limited for 2.1 billion euros. Siemens Energy posted a 23.9% year-on-year increase in orders to 15.4 billion euros, with a book-to-bill ratio of 2.01, pushing its order backlog to a record high of 118 billion euros. Siemens Energy suffered a tough 2023, as problems with manufacturing faults at Siemens Gamesa forced the parent company to a 4.6 billion euro loss for the fiscal year. "We have just shy of 42 billion in backlog in our Siemens Gamesa business — this is also a record order backlog.
Persons: Siemens Gamesa, Maria Ferraro, Ferraro Organizations: Siemens Energy, Siemens, India's Siemens, Siemens Gamesa, CNBC
NORMAN, Okla. (AP) — “Beer For My Horses” singer-songwriter Toby Keith has died. “The money to be made was unbelievable,” Keith told The Associated Press in 1996. “Should’ve Been a Cowboy,” his breakout hit, was played 3 million times on radio stations, making it the most played country song of the 1990s. “They were trying to get me to compromise, and I was living a miserable existence,” Keith told the AP. “I always felt like that the songwriting was the most important part of this whole industry,” Keith told the crowd of fellow singers and writers.
Persons: NORMAN, Okla, Toby Keith, Keith, , , Beer, Willie Nelson, ” Keith, I’ve, I’m, ” ‘, Harold Shedd, Shedd, “ Should’ve, Shania Twain, That’s, “ I’ve, Bobby Braddock, “ They’re, He’s, George W, Bush, Barack Obama, Donald Trump, We’ll, Singer, Steve Earle, Natalie Maines, Maines, Saddam Hussein, FUTK, Ethan Hawke, Kris Kristofferson, Hawke, Vince Gill, Scott Borchetta, Trace Adkins, Joe Nichols, Josh Thompson, Clay Walker, Phil Vassar Organizations: Associated Press, Oklahoma City Drillers, United States Football League, Mercury Records, Alabama, AP, DreamWorks Records, Academy of Country, “ Billboard, Arts, , Universal Music Group, DreamWorks, Universal, Songwriters Hall of Fame, BMI Locations: Oklahoma, Texas, Nashville, Mercury, Oklahoma City
Heating systems are breaking down in Russia's harsh winter, leaving many people freezing. Much of Russia's Soviet-era infrastructure needs modernizing. AdvertisementHeating systems are breaking down in Russia's harsh winter, leaving many people freezing as Moscow continues to spend on its war in Ukraine. The brutal conditions are made worse because Russia's infrastructure is poorly maintained, with many of its facilitates dating from the Soviet era, according to media reports. About 40% of the communal heating grid in the country needs to be replaced urgently, she added.
Persons: , Svetlana Razvorotneva, Vladimir Putin, Denis Volkov, Organizations: Service, Financial Times, Reuters, , Levada Center Locations: Russia, Moscow, Ukraine, Siberia, Soviet, St . Petersburg, The, Russian, Nizhny Novgorod
New York CNN —A team of five US Treasury Department officials is traveling to Beijing this week for a series of meetings on the economy with their counterparts in China, a Treasury official told CNN on Monday. The trip by senior officials comes ahead of a planned return to China by Treasury secretary Janet Yellen later in 2024. Specifically, the Treasury delegation plans to raise China’s use of non-market economic practices and industrial overcapacity, the official said. The visit marks the first time that the economic working group is meeting in Beijing since it was launched last September after Treasury Secretary Janet Yellen’s trip to China. However, there is nothing to suggest the latest US-China meeting is in direct response to the renewed concerns about China’s economy and financial markets.
Persons: New York CNN —, Janet Yellen, Jay Shambaugh, Donald Trump, Yellen, Janet Yellen’s, ” Yellen, , Jerome Powell, , Powell, ” Powell Organizations: New, New York CNN, US Treasury Department, Treasury, CNN, Shanghai, Weibo, The New York Times, China Business Council’s, Federal, United Locations: New York, Beijing, China, Treasury’s, Washington, Hong Kong, Evergrande, United States
Nikki Haley took aim at Trump while appearing in a sketch on Saturday Night Live. Haley questioned his mental competency and made references to his legal woes. AdvertisementNikki Haley made a surprise appearance on Saturday Night Live to mock her GOP presidential nomination rival, former President Donald Trump, over his mental competency and legal issues. In the sketch, Haley appeared as a "concerned South Carolina voter" at a CNN town hall, asking Trump, who was being played by James Austin Johnson, questions. "My question is why won't you debate Nikki Haley?"
Persons: Nikki Haley, Haley, , Donald Trump, Trump, James Austin Johnson Organizations: Trump, GOP, Service, CNN, Business Locations: Carolina
Hamas killed more than 1,200 people and kidnapped about 250 more, mostly civilians, in the attack. Photos You Should See View All 45 Images“Nothing in my article was written to instigate any sort of hate,” Stalinsky said. “This is a moment for counterterrorism officials to be concerned.”The Wall Street Journal did not immediately respond Sunday to requests for comment left by The Associated Press via email and voicemail. An email sent to a Dearborn spokeswoman also was not immediately returned Sunday. “That’s exactly what can lead to Islamophobia and anti-Arab hate, and it shouldn’t happen to the residents of Dearborn – or any American town.”
Persons: , Abdullah Hammoud, ” Hammoud, , ” Steven Stalinsky, ” Stalinsky, Joe Biden, Organizations: ” Dearborn, Middle East Media Research Institute, Street, Associated Press, Hamas, Health Ministry, The Associated Press Locations: Mich, — Dearborn , Michigan, , Dearborn, Jihad, Michigan, Israel, Gaza
“China is one of the fastest-aging countries in the world and is one of the most important countries in the area of Alzheimer’s disease for Eisai,” a company spokesperson said. “The potential growth for Leqembi in China is huge.”Eli Lilly, which is developing a similar treatment called donanemab, told Reuters it has filed for approval in China. The Indianapolis-based company is now testing its drug in a 1,500-person trial with volunteers in China, Taiwan, South Korea and the EU, a spokesperson said. Leqembi, which works by removing a toxic protein called beta amyloid from the brain, is the first Alzheimer's treatment proven to alter the course of the fatal, brain-wasting disease. Once on treatment, suitable patients undergo a series of MRI scans to monitor for potentially fatal swelling and bleeding in the brain.
Persons: Julie Steenhuysen, Andrew Silver CHICAGO, ” Eli Lilly, Biogen, Liu Zhou, Eisai, , Hidemaru Yamaguchi, Soeren Mattke, Mattke, Andrew Silver, Caroline Humer, Bill Berkrot Organizations: Reuters, EU, Leqembi, Guangdong Medical University, ” Citi, Psychiatry, Siemens Healthineers, University of Southern, University of Southern California Brain Health Locations: SHANGHAI, China, , Leqembi, The Indianapolis, Taiwan, South Korea, Eisai, United States, Japan, Europe, U.S, University of Southern California, Chicago, Shanghai
Police in Michigan City Put on Alert After WSJ Opinion Piece
  + stars: | 2024-02-04 | by ( Feb. | At A.M. | ) www.usnews.com   time to read: +2 min
The WSJ published the piece on Friday headlined as "Welcome to Dearborn, America's Jihad Capital." Islamophobic," Dearborn Mayor Abdullah Hammoud said about the WSJ piece written by Steven Stalinsky, executive director of the Middle East Media Research Institute. This is a direct result of the inflammatory @WSJ opinion piece that has led to an alarming increase in bigoted and Islamophobic rhetoric online targeting the city of Dearborn," the mayor added. Rights advocates have noted a rise in Islamophobia, anti-Palestinian bias and antisemitism in the U.S. since the eruption of war in the Middle East in October. The latest eruption of war in the Middle East began on Oct. 7 when Hamas attacked Israel, killing 1,200.
Persons: Kanishka Singh, Abdullah Hammoud, Steven Stalinsky, Dan Burns, Lisa Shumaker Organizations: Street Journal, Council, Islamic Relations, Dearborn, Middle East Media Research Institute, Street, East, Hamas Locations: Dearborn , Michigan, Dearborn, Jihad, Israel, Gaza, U.S, Vermont, Illinois, Washington
Haley said Trump was "confused again" after he appeared to get the Indiana ballot deadline wrong. AdvertisementNikki Haley took another jab at former President Donald Trump's cognitive abilities after he appeared to mix up the Indiana ballot deadline. "Looks like he's confused again…" the Republican presidential candidate wrote on X in response to a Trump social post in which he said she was "scrambling" to qualify for the ballot three days after the deadline. Haley, the final remaining Republican challenger to Trump, has been ramping up attacks on his age and mental abilities. Haley has started sharpening her tone against Trump ahead of the upcoming primary in her home state, South Carolina.
Persons: Haley, Trump, Trump's, , Nikki Haley, Donald Trump's, Diego Morales, Joe Biden, CNN's Jake Tapper, Nancy Pelosi Organizations: GOP, Service, Republican, Trump, State, Democratic, Politico, UN Locations: Indiana, South Carolina
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