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That adds to tech-related tensions between the West and China, which is one of Europe’s biggest trading partners and the world’s biggest auto market. Chinese EV makers are drawn to Europe because auto import tariffs are just 10% versus 27.5% in the U.S., independent auto analyst Matthias Schmidt said. MG — owned by SAIC Motor, China’s biggest automaker — is the largest Chinese EV player in Europe. One reason Chinese companies can offer high-quality cars at affordable prices stems from the rules to enter the Chinese market. Chinese EV makers, meanwhile, are trying to stand out in a crowded field.

Persons: Laima Springe, Janssen, “, ” Springe, I’m, ”, Matthias Schmidt, John Kirkwood, —, Kirkwood, Warren Buffett, Ursula von der Leyen, Alfa, China’s EVs, Carlos Tavares, we’re, Alexander Klose, ” Klose, Schmidt, Justin Nicholls, Nicholls Organizations: Volvo, Nissan, Skoda, Union, EV, Volkswagen Passat, Kia, MG, SAIC Motor, China’s, —, Lotus, Chinese Commerce Ministry, EU, World Trade Organization, Tesla’s, Peugeot, Citroen, Alfa Romeo, Fiat, Global, Wall Motors Locations: Copenhagen, Denmark, Europe, China, West, U.S, British, Western, France, Germany, Beijing, Shenyang, Shanghai, Israel

☆ SNAPSHOT Futures extend losses after retail sales data
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: 1 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 17 (Reuters) - U.S. stock index futures extended losses on Tuesday after data showed a stronger-than-anticipated rise in monthly retail sales, stoking concerns the Federal Reserve could keep interest rates elevated for longer with another hike also on the table. The Commerce Department report showed retail sales rose 0.7% in September, compared with estimates of a 0.3% rise, according to economists polled by Reuters. ET, Dow e-minis were down 84 points, or 0.25%, S&P 500 e-minis were down 15.75 points, or 0.36%, and Nasdaq 100 e-minis were down 78 points, or 0.51%. Reporting by Shashwat Chauhan in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Shashwat Chauhan, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Commerce Department, Reuters, Dow e, Nasdaq, Thomson Locations: New York City, U.S, Bengaluru

REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsOTTAWA, Oct 17 (Reuters) - Canada's annual inflation rate unexpectedly slowed to 3.8% in September and underlying core measures also eased, data showed on Tuesday, prompting markets and analysts to trim bets for another interest rate hike next week. Analysts polled by Reuters had forecast inflation to hold steady at the 4.0% rate recorded in August. Two of the Bank of Canada's (BoC's) three core measures of underlying inflation also decelerated. Money markets trimmed bets for a rate hike next week after the data. "There's no need for further rate hikes in Canada," Reitzes said.

Persons: Carlos Osorio, Jules Boudreau, stoking, Benjamin Reitzes, Reitzes, Statscan, Derek Holt, Macklem, Ismail Shakil, Steve Scherer, Dale Smith, Fergal Smith, Divya Rajagopal, Jonathan Oatis, Nick Zieminski Organizations: REUTERS, Rights OTTAWA, Reuters, Statistics, Mackenzie Investments, Bank of Canada's, Bank of Canada, BoC, BMO Capital Markets, Scotiabank . Bank of Canada, Thomson Locations: Toronto , Ontario, Canada, Statistics Canada, Mackenzie, Ottawa, Toronto

☆ Iran's Khamenei says Israel must halt assault on Palestinians in Gaza
▼ + stars: | 2023-10-17 | by ( Parisa Hafezi | ) www.reuters.com time to read: +3 min

Iran's Supreme Leader Ayatollah Ali Khamenei speaks during a graduation ceremony for armed forces officers at the Imam Ali academy in Tehran, Iran October 10, 2023. "No one can confront Muslims and the resistance forces if the Zionist regime's (Israel) crimes against Palestinians continue. "The world is witnessing the Zionist regime's genocide of Palestinians in Gaza," he said to chants of "Death to Israel". Israel, which Tehran refuses to recognise, has long accused Iran's clerical rulers of stoking violence by supplying arms to Hamas. "We must respond, we must react to what is happening in Gaza," Khamenei said.

Persons: Ayatollah Ali Khamenei, Ali, Khamenei, Ali Fadavi, Fadavi, Ebrahim Raisi, Parisa Hafezi, Christina Fincher, Angus MacSwan Organizations: Iran's, Iranian, West Asia News Agency, REUTERS, Rights, Revolutionary Guards, Zionist, Thomson Locations: Tehran, Iran, Rights DUBAI, Gaza, Israel, Islamic Republic, Fars

☆ North Korea Accuses US of Stoking Tension With 'Nuclear Supremacy'
▼ + stars: | 2023-10-16 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +2 min

By Hyonhee ShinSEOUL (Reuters) - North Korea's nuclear programme is a self-defensive move to head off a nuclear war in the face of the U.S. pursuit of "nuclear supremacy," state media KCNA said on Tuesday. The comments come as nuclear-armed North Korea has raised alarm in the region with regular launches of missiles, including intercontinental ballistic missiles that can strike the continental United States. "The U.S., the world's biggest nuclear weapons state and the world's first nuclear user which adopted the preemptive nuclear attack on other countries as its national policy, is talking about 'nuclear threat' from someone. "The reality urgently requires the DPRK, which is standing in confrontation with the U.S. imperialism, the most aggressive nuclear war criminal force, to bolster up its self-defensive military capabilities for deterring a nuclear war," Kim said. DPRK, the Democratic People's Republic of Korea, is North Korea's official name.

Persons: Shin, KCNA, Kim Kwang Myong, Kim, Washington, Kim Tong Myong, nukes, Hyonhee Shin, Sonali Paul Organizations: Foreign Ministry's Institute for Disarmament, Peace, U.S, Strategic, North, DPRK, Democratic People's, Society for International Politics Locations: Shin SEOUL, U.S, North Korea, United States, Russia, China, Democratic People's Republic of Korea, North, Europe

High funding needs and central banks removing support are increasing pricing uncertainty for investors, Sophia Drossos, hedge fund Point72 Asset Management's chief economist, said. Spending plans lacking credibility were seen as most likely to spark market turmoil. I suspect not by default, but when markets start reflecting their worries in Treasury prices, by a political crisis and a potentially ugly adjustment," the former IMF chief economist said. Italy's 2.4 trillion-euro debt pile is the focus in Europe, where the IMF has said high debt leaves governments vulnerable to crisis. "We need more investment, not less," said King's College London professor Jonathan Portes, Britain's cabinet office chief economist during the financial crisis.

Persons: Andrew Kelly, Peter Praet, Praet, Sophia Drossos, Daniel Ivascyn, Claudio Borio, Olivier Blanchard, Ray Dalio, Janet Yellen's, Yellen, Jim Leaviss, Giancarlo Giorgetti, Daleep Singh, Joe Biden, Britain's, Yellen's, Jonathan Portes, Clare Lombardelli, Moritz Kraemer, Yoruk Bahceli, Maria Martinez, Leigh Thomas, Giuseppe Fonte, Nell Mackenzie, Naomi Rovnick, William Schomberg, Jan Strupczewski, Dan Burns, Elisa Martinuzzi, Riddhima Talwani, Jayaram, Emelia Sithole Organizations: Financial, of, REUTERS, Institute of International Finance, Reuters, European Central Bank, ECB, Bank for International, Peterson Institute for International Economics, Associates, U.S . Treasury, Wall, Economy, Britain's Treasury, Congressional, Britain's, Institution, Reuters Graphics ACT, King's College London, Labour Party, OECD, Graphics, Thomson Locations: of Manhattan , New York City, U.S, Italy, Britain, United States, Europe, Ukraine, Berlin, Paris, Rome, London, Brussels, Washington, Marrakech

☆ North Korea accuses US of stoking tension with 'nuclear supremacy'
▼ + stars: | 2023-10-16 | by ( Hyonhee Shin | ) www.reuters.com time to read: +2 min

Residents hold US and North Korean flags while they wait for motorcade of North Korea's leader Kim Jong Un en route to the Metropole Hotel for the second US- North Korea summit in Hanoi, Vietnam February 28, 2019. REUTERS/Kham/File Photo Acquire Licensing RightsSEOUL, Oct 17 (Reuters) - North Korea's nuclear programme is a self-defensive move to head off a nuclear war in the face of the U.S. pursuit of "nuclear supremacy," state media KCNA said on Tuesday. The comments come as nuclear-armed North Korea has raised alarm in the region with regular launches of missiles, including intercontinental ballistic missiles that can strike the continental United States. "The reality urgently requires the DPRK, which is standing in confrontation with the U.S. imperialism, the most aggressive nuclear war criminal force, to bolster up its self-defensive military capabilities for deterring a nuclear war," Kim said. DPRK, the Democratic People's Republic of Korea, is North Korea's official name.

Persons: Kim Jong, KCNA, Kim Kwang Myong, Kim, Washington, Kim Tong Myong, nukes, Hyonhee Shin, Sonali Paul Organizations: Metropole Hotel, REUTERS, Rights, Foreign Ministry's Institute for Disarmament, Peace, U.S, Strategic, North, DPRK, Democratic People's, Society for International Politics, Thomson Locations: North Korea, Hanoi, Vietnam, Rights SEOUL, U.S, United States, Russia, China, Democratic People's Republic of Korea, North, Europe

Last February, the State Department said that Hamas raises funds in other Gulf countries and gets donations from Palestinians, other expatriates and its own charities. Blockchain researchers TRM Labs said this week in a research note that crypto fundraising has previously increased following rounds of violence involving Hamas. However, since last weekend's violence, prominent Hamas-linked support groups had moved just a few thousands dollars through crypto, TRM noted. Between Dec. 2021 and April this year, Israel seized almost 190 crypto accounts it said were linked to Hamas. SHIPS AND SHELLSWhether through crypto or other means, Hamas' allies have found ways to get money to Gaza.

Persons: Matthew Levitt, Levitt, Tom Robinson, TRM, Israel, they've, Stephen Reimer, Saeed Azhar, Sinead Cruise, Tom Wilson, Tommy Wilkes, Andrew Mills, John O'Donnell, Frank Jack Daniel Our Organizations: LONDON, Hamas, Barclays, Islamic Resistance Movement, State Department, Reuters, TRM Labs, The U.S . State Department, U.S . Treasury, UN, Qatari, Royal United Services Institute, Parisa, Thomson Locations: DUBAI, Gaza, Israel, U.S, Iran, Qatar, United States, Britain, The, Turkey, Saudi Arabia, Tehran, Islamic Republic, New York, London, Doha, Dubai

High funding needs and central banks removing support are increasing pricing uncertainty for investors, Sophia Drossos, hedge fund Point72 Asset Management's chief economist, said. Spending plans lacking credibility were seen as most likely to spark market turmoil. I suspect not by default, but when markets start reflecting their worries in Treasury prices, by a political crisis and a potentially ugly adjustment," the former IMF chief economist said. "We need more investment, not less," said King's College London professor Jonathan Portes, Britain's cabinet office chief economist during the financial crisis. Not enough reforms are being implemented, OECD chief economist Clare Lombardelli warned.

☆ Analysis-Hamas' Cash-To-Crypto Global Finance Maze in Israel's Sights
▼ + stars: | 2023-10-13 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +6 min

In the past, Hamas has said financial restrictions placed on its donors were an attempt to neutralise legitimate resistance against Israel. However, since last weekend's violence, prominent Hamas-linked support groups had moved just a few thousands dollars through crypto, TRM noted. Between Dec. 2021 and April this year, Israel seized almost 190 crypto accounts it said were linked to Hamas. SHIPS AND SHELLSWhether through crypto or other means, Hamas' allies have found ways to get money to Gaza. "Qatari aid to the Gaza Strip is fully coordinated with Israel, the UN and the U.S.," the Qatari government official said.

Persons: Al Sayegh, John O'Donnell, Elizabeth Howcroft, Matthew Levitt, Levitt, Tom Robinson, TRM, Israel, they've, Stephen Reimer, Saeed Azhar, Sinead Cruise, Tom Wilson, Tommy Wilkes, Andrew Mills, Frank Jack Daniel Organizations: Elizabeth Howcroft LONDON, Reuters, Hamas, Barclays, Islamic Resistance Movement, State Department, TRM Labs, The U.S . State Department, U.S . Treasury, UN, Qatari, Royal United Services Institute, Parisa Locations: DUBAI, Gaza, Israel, U.S, Iran, Qatar, United States, Britain, The, Turkey, Saudi Arabia, Tehran, Islamic Republic, New York, London, Doha, Dubai

Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic supply glut that has hammered prices, in Cushing, Oklahoma, March 24, 2016. Prices pared gains after U.S. government data showed U.S. crude inventories (USOILC=ECI) rose by 10.2 million barrels in the last week to 424.2 million barrels, much higher than analyst expectations for a 500,000-barrel rise. U.S. crude output also hit a record 13.2 million barrels per day in the week, the data showed. Meanwhile, the IEA lowered its oil demand growth forecast for 2024, suggesting harsher global economic conditions and progress on energy efficiency will weigh on consumption. However, it raised its 2023 demand forecast to 2.3 million bpd from a forecast of 2.2 million.

Persons: Nick Oxford, Bob Yawger, Yawger, Giovanni Staunovo, Prince Abdulaziz, Novak, Prince Abdulaziz bin Salman, Alexander Novak, Stephanie Kelly, Ahmad Ghaddar, Trixie Yap, David Gregorio, Kirsten Donovan Organizations: REUTERS, Brent, . West Texas, U.S, Mizuho, EIA, European Central Bank, UBS, Saudi Energy, IEA, Organization of, Petroleum, Thomson Locations: Cushing , Oklahoma, Lower U.S, Saudi, Israel, Russia, New York, London, Singapore

European distillate inventories were 25 million barrels (-6% or -0.84 standard deviations) below the seasonal average at the end of September. Singapore distillate stocks averaged 3 million barrels (-23% or 1.30 standard deviations) below the seasonal average in September. Chartbook: Global distillate inventories and pricesPortfolio investors have been reducing their exposure to middle distillates since late August, which has likely anticipated, accelerated and amplified the retreat in prices and margins. But inventories are already tight; any expansion will cause them to deplete further, rapidly putting renewed upward pressure on prices. Related columns:- U.S. manufacturing rebound will stretch diesel supplies (October 5, 2023)- Funds grow bullish on crude, cautious on distillates (September 18, 2023)- Global diesel shortage boosts prices (September 13, 2023)- U.S. diesel prices surge anticipating a soft landing (August 11, 2023)John Kemp is a Reuters market analyst.

Persons: Eric Gaillard, John Kemp, Jane Merriman Organizations: REUTERS, ICE Futures, U.S . Commodity Futures Trading Commission, U.S . Energy Information Administration, Global, U.S, Thomson, Reuters Locations: Nice, France, Singapore, New York, United States, U.S, Europe, China

☆ Iran's Khamenei says Tehran was not behind Hamas attack on Israel
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

[1/5] Iran's Supreme Leader Ayatollah Ali Khamenei reviews armed forces during a graduation ceremony for armed forces officers at the Imam Ali academy in Tehran, Iran October 10, 2023. "We kiss the hands of those who planned the attack on the Zionist regime," said Khamenei, who was wearing a Palestinian scarf, in his first televised speech since the attack. "This destructive earthquake (Hamas' attack) has destroyed some critical structures (in Israel) which will not be repaired easily ... Israel has long accused Iran's clerical rulers of stoking violence by supplying arms to Hamas. Israeli TV channels said the death toll from the Hamas attack had climbed to 900, with at least 2,600 injured.

Persons: Ayatollah Ali Khamenei, Ali, Khamenei, Israel, Parisa Hafezi, Andrew Heavens, Gareth Jones, Bernadette Baum Organizations: Iranian, West Asia News Agency, REUTERS Acquire, Rights, Hamas, Zionist, United, Iran, Monday, Gaza's Health, Thomson Locations: Tehran, Iran, Rights DUBAI, Israel, Gaza, Islamic Republic, United States, Israeli, Dubai

REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsSummary Industrial output down 0.2% in Aug vs down 0.1% forecastEconomists expect further contraction in coming monthsBERLIN, Oct 9 (Reuters) - German industrial output shrank in August for the fourth consecutive month, the federal statistics office said on Monday, an indication that the sector remains under serious pressure, stoking recession fears. Industrial production fell slightly more than expected in August by 0.2% compared to the previous month. The further drop in German industrial production in August was better than it looked as it was driven by volatile components, said Franziska Palmas, senior Europe economist at Capital Economics. However, she continued to expect high interest rates and falling demand to lead to a further contraction in German industrial output in the coming months. "Thin order books despite last week's increase, and high inventories all indicate that German industrial production will continue moving sideways rather than gaining momentum anytime soon," ING's global head of macro Carsten Brzeski said.

Persons: Wolfgang Rattay, Franziska Palmas, Destatis, Carsten Brzeski, Brzeski, Friederike Heine, Maria Martinez, Ozan Ergenay, Gerry Doyle, Sonali Paul Organizations: REUTERS, Reuters, Capital Economics, Thomson Locations: ThyssenKrupp, Duisburg, Germany, BERLIN, Europe, Palmas

The Hamas terrorist attack on Israel is reprehensible. Israel is under heavy attack right now by Hamas and taking action to defend itself and its people. Israel has every right to defend itself.”Sen. Jon Tester, Montana Democrat“I strongly condemn the terrorist attacks launched by Hamas against our ally Israel. I will continue to closely monitor the situation.”Sen. Maggie Hassan, New Hampshire Democrat“Hamas’s terrorist attack on Israel is nothing short of horrifying. Israel has every right to defend itself from this unjust war.”Sen. Ron Wyden, Oregon Democrat“The terrorist attack on Israel is appalling.

Persons: Hakeem Jeffries, “, Steve Scalise, ” Kevin McCarthy, ” Chuck Schumer, –, Herzog –, ” Mitch McConnell, ” Tom Emmer, ” Katherine Clarke, ” Dick Durbin, ” John Thune, ” Sen, Debbie Stabenow, Michigan Democrat “, Israel, Amy Klobuchar, Mark Warner, Elizabeth Warren, Massachusetts Democrat “, Bernie Sanders, Cory Booker, Cory Booker , New Jersey Democrat “, Joe Manchin, West Virginia Democrat “, Tammy Baldwin, Wisconsin Democrat “, Gary Peters, Gary Peters , Michigan Democrat “, Catherine Cortez Masto, Brian Schatz, Hawaii Democrat “, Jeff Merkley, Oregon Democrat “, John Barrasso, Joni Ernst, Iowa Republican “, Sen, Shelley Moore Capito, West Virginia Republican “, Steve Daines, Montana Republican “, Mike Lee, Mike Crapo, Chuck Grassley, Tommy Tuberville, Katie Britt, Lisa Murkowski, Dan Sullivan, Kyrsten, Mark Kelly, John Boozman, Tom Cotton, Arkansas Republican “, Alex Padilla, Laphonza Butler, California Democrat “, today’s, Michael Bennet, Colorado Democrat “, John Hickenlooper, Richard Blumenthal, Connecticut Democrat “, Chris Murphy, Tom Carper, Delaware Democrat “, Chris Coons, Marco Rubio, Rick Scott, Jon Ossoff, Georgia Democrat “, Anat Sultan, Raphael Warnock, “ I’m, Mazie, Tammy Duckworth, Todd Young, Mike Braun, Jerry Moran, Kansas Republican “, Hamas’s, Roger Marshall, Netanyahu, Rand Paul, Kentucky Republican “, Bill Cassidy, John Kennedy, Susan Collins, Maine Republican “, Ben Cardin, Maryland Democrat “, Chris Van Hollen, Ed Markey, Tina Smith, Minnesota Democrat “, Roger Wicker ,, Roger Wicker , Mississippi Republican “, Cindy Hyde, Josh Hawley, Eric Schmitt, Jon Tester, Montana Democrat “, Deb Fischer, Nebraska Republican “, Pete Ricketts, Jacky Rosen, Nevada Democrat “, Jeanne Shaheen, Jeanne Shaheen , New Hampshire Democrat “, Maggie Hassan, Maggie Hassan , New Hampshire Democrat “, Bob Menendez, Bob Menendez , New Jersey Democrat “, Martin Heinrich, New Mexico Democrat “, Biden, Ben Ray Lujan, Kirsten Gillibrand, New York Democrat “ I'm, Thom Tillis, Ted Budd, North Carolina Republican “, John Hoeven, John Hoeven , North Dakota Republican “, Kevin Cramer, Sherrod Brown, Ohio Democrat “, J.D, ”, Vance, James Lankford, Markwayne Mullin, Israel –, Ron Wyden, Bob Casey, John Fetterman, craven, Jack Reed, Sheldon Whitehouse, Lindsey Graham, Tim Scott, South Carolina Republican “ I’m, Mike Rounds, South Dakota Republican “ Shocked, Marsha Blackburn, Marsha Blackburn , Tennessee Republican “ Israel, Bill Haggerty, Tennessee Republican “, John Cornyn, John Cornyn , Texas Republican “, Ted Cruz, Mitt, Vile, Peter Welch, Vermont Democrat “, Tim Kaine, Patty Murray, Washington Democrat “, Maria Cantwell, Ron Johnson, Wisconsin Republican “ Israel, Cynthia Lummis, Wyoming Republican “, Jim Jordan, Jared Moskowitz, Abigail Spanberger, Elissa Slotkin, Don Bacon, perpetrating, Cori Bush, Missouri Democrat “, Kevin Hern, Kevin Hern , Oklahoma Republican “, ” Rep, Ritchie Torres, Ritchie Torres , New York Democrat “, Michael McCaul, Michael McCaul , Texas Republican “ I, Ilhan Omar Organizations: Palestinian, Hamas, Biden, House, Michigan Democrat, Minnesota Democrat, Virginia Democrat “, Senate Intelligence, Massachusetts Democrat, Islamic, Cory Booker , New, Cory Booker , New Jersey Democrat, West Virginia Democrat, Wisconsin Democrat, Gary Peters , Michigan Democrat, Nevada Democrat, Hawaii Democrat, State, Oregon Democrat, John Barrasso , Wyoming Republican, Iowa Republican, West Virginia Republican, Montana Republican, Utah Republican, Idaho Republican, Alabama Republican, Alaska Republican, Alaska Republican “, Arizona Democrat, John Boozman , Arkansas Republican “, Jewish, Arkansas Republican, California Democrat, Colorado Democrat, Connecticut Democrat, Delaware Democrat, Israel, Florida Republican, Georgia Democrat, Hawaii Democrat “, Indiana Republican, Indiana Republican “, Kansas Republican, Kentucky Republican, Louisiana Republican, Maine Republican, Maryland Democrat, Roger Wicker , Mississippi Republican, Smith , Mississippi Republican, Josh Hawley , Missouri Republican, Missouri Republican, Montana Democrat, Nebraska Republican, Jeanne Shaheen , New, Jeanne Shaheen , New Hampshire Democrat, Maggie Hassan , New Hampshire Democrat, Bob Menendez , New, Bob Menendez , New Jersey Democrat, New Mexico Democrat, New, New York Democrat, United, North Carolina Republican, John Hoeven , North Dakota Republican, Kevin Cramer , North Dakota Republican “, Ohio Democrat, Vance , Ohio Republican, James Lankford , Oklahoma Republican, Oklahoma Republican, “ Hamas, Rhode, Lindsey Graham , South Carolina Republican, South Carolina Republican, South Dakota Republican, Marsha Blackburn , Tennessee Republican, Tennessee Republican, John Cornyn , Texas Republican, Ted Cruz , Texas Republican, Vermont Democrat, Washington Democrat, Wisconsin Republican, Wyoming Republican, ”, Ohio Republican “, Missouri Democrat, Kevin Hern , Oklahoma Republican, Ritchie Torres , New, Ritchie Torres , New York Democrat, Jewish State, Michael McCaul , Texas Republican Locations: Israel, United States, Tehran, The United States, Iran, Michigan, U.S, Minnesota, Massachusetts, Vermont, Cory Booker ,, Cory Booker , New Jersey, West Virginia, Wisconsin, Gary Peters , Michigan, Nevada, Hawaii, Oregon, John Barrasso , Wyoming, America, Iowa, West, Montana, Iranian, Utah, Idaho, Alabama, Alaska, Alaska Republican “ America, @Israel, Kyrsten Sinema, Arizona, John Boozman , Arkansas, Jewish State, Arkansas, Saudi Arabia, California, Gaza, Colorado, Connecticut, Delaware, Florida, Georgia, Mazie Hirono, Illinois, Kansas, Kentucky, Louisiana, Maine, Maryland, Palestine, Roger Wicker , Mississippi, Smith , Mississippi, Josh Hawley , Missouri, Missouri, Nebraska, Jeanne Shaheen ,, Jeanne Shaheen , New Hampshire, Maggie Hassan , New Hampshire, Bob Menendez ,, Bob Menendez , New Jersey, New Mexico, New York, North, John Hoeven , North, Kevin Cramer , North, Ohio, Vance , Ohio, James Lankford , Oklahoma, Oklahoma, Pennsylvania, Rhode Island, Lindsey Graham , South, South, States, Marsha Blackburn , Tennessee, Tennessee, John Cornyn , Texas, Ted Cruz , Texas, Mitt Romney, Virginia, “ Hamas, Washington, Wyoming, Ohio Republican “ America, Kevin Hern , Oklahoma, Ritchie Torres ,, Ritchie Torres , New York, Michael McCaul , Texas

☆ Why Oil Prices Have Jumped After Attacks on Israel
▼ + stars: | 2023-10-09 | by ( ) www.wsj.com time to read: +1 min

Oil prices jumped after the surprise weekend attack on Israel by Hamas and the Israeli response risked stoking instability in the petroleum-rich Middle East. Iranian security officials helped plan Hamas’s surprise attack on Israel and gave the green light for the assault at a meeting in Beirut last Monday, The Wall Street Journal reported on Sunday. The violence jeopardizes President Biden’s Middle East agenda: establishing formal relations between Saudi Arabia and Israel while containing tensions with Iran. Riyadh had signaled to the U.S. that it was willing to raise oil output to help secure a deal with Israel, while the U.S. had backed away from some actions meant to stop Iran’s oil shipments. Analysts said the diplomatic repercussions of the Hamas attack could squeeze those two additional sources of oil supply.

Organizations: Hamas, Brent, Texas, Analysts, Street, Biden’s, U.S . Locations: Israel, Gaza, Beirut, Saudi Arabia, Iran, Riyadh, U.S

☆ Redburn Atlantic downgrades Spotify, cites risks to audiobook expansion plans
▼ + stars: | 2023-10-09 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Spotify's latest move to expand its audiobook offerings to subscribers isn't without risks, according to Redurn Atlantic. The firm downgraded the music streaming giant to neutral and lowered its price target to $160 from $170. "In total this could erase 200bp of gross margin. Furthermore, we estimate that new subscribers that immediately take up audiobooks would generate negative gross margins." "Amazon's Audible is currently the market leader in audiobooks and there is a risk it would bundle it up with music, diminishing the competitive advantage and the pricing power of Spotify," Pustula said.

Persons: Agnieszka Pustula, Pustula, — CNBC's Michael Bloom Organizations: Spotify, Amazon, Amazon Music Locations: Australia

☆ Stocks making the biggest moves midday: General Dynamics, United Airlines, Spotify and more
▼ + stars: | 2023-10-09 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Spotify — Shares of the music streaming service company fell 2.5% after Redburn Atlantic downgraded the streaming giant to neutral from buy. Tesla — The automaker's stock fell 2.3% in Monday trading upon news that the company's year-over-year sales declined 10.9% in China last month, according to data from the China Passenger Car Association. Oil stocks — Energy stocks soared following the escalation of the Israel-Hamas conflict over the weekend. Airline stocks — On a broader level, airline names were down after several major airlines suspended service to Israel following this weekend's attacks. United Airlines slid 5.3%, while Delta Air Lines and American Airlines shed 4.5% and 5.3%, respectively.

Persons: Elizabeth, Saket Kalia, Bristol Myers, Tesla, Baird, — Datadog, Hess, Northrop Grumman, Yun Li, Tanaya Macheel, Sarah Min, Jesse Pound Organizations: General Dynamics Corp, Spotify, Atlantic, Amazon, Barclays, Therapeutics, Bristol, Bristol Myers Squibb, China Passenger Car Association, Motorola Solutions, Motorola, Bank of America, — Energy, Halliburton, CF Industries, Defense, L3Harris Technologies, General Dynamics, Airline, United Airlines, Delta Air Lines, American Airlines Locations: NASSCO, Norfolk , Virginia, China, Israel, Palestine

Negotiations between Exxon and Pioneer are advanced but have not yet led to an agreement over the acquisition of the largest oil producer in Permian basin. So far, shareholders profited as the share price more than doubled since early 2021 when activist investors publicly pushed for changes. Big Oil is responsible for the bulk of human-induced greenhouse gas emissions and pressure for action is building. "Investor pressure has decreased; they're backtracking... the big investors are enabling this," said climate investment group Follow This founder Mark van Baal. Privately, investors worried if Exxon bowed out of production, someone else would pick up the slack and nothing would be gained for shareholders or energy transfer.

Persons: Olaf Scholz, Exxon Mobil's, Jim Rossman, that's, Andrew Logan, tussles, Mark van Baal, Charlie Penner, Ceres, Logan, Marguerita Choy Organizations: Environmental, Exxon, Republique, New Global Financial, Big Oil, Energy, Natural Resources, Pioneer, Barclays, Oil, Public, International Energy Agency, Investors, Ancora, Holdings, Algonquin Power & Utilities, Elliott Investment Management, NRG Energy, Smart, Thomson Locations: Paris, France, BOSTON, Ukraine

[1/2] Police detain suspects as they patrol along the German-Polish border to prevent illegal migration near Klinge, Germany, September 20, 2023. Interior Minister Nancy Faeser urged Germany's 16 states on Wednesday to provide asylum seekers with material benefits rather than cash, to reduce the country's pull factor. Migration analysts say much of the tougher stance is electioneering ahead of elections in Hesse and Bavaria on Sunday and in three eastern German states next year. Vorlaender noted that even if tougher controls worked, Germany risked creating a bigger problem for transit countries by bottling in migrants there. Germany's tougher stance on migration isn't so much a policy reversal as an evolution, said Susan Fratzke at the Migration Policy Institute.

Persons: Lisi Niesner, Nancy Faeser, Germany's, Olaf Scholz, Angela Merkel, Scholz, Russia's, Hannes Schammann, SHAM, Merkel, Friedrich Merz, “, ” Merz, Merz, Alberto ‑ Horst Neidhardt, Hans Vorlaender, Vorlaender, Ludovit, Susan Fratzke, Schammann, Sarah Marsh, Riham, Jan Lopatka, Alan Charlish, Mark Heinrich Our Organizations: Police, REUTERS, Authorities, EU, EU's Agency for Asylum, University of Hildesheim, Christian Democratic Union, European, Faeser, Migration Policy Institute, Berlin, Thomson Locations: Klinge, Germany, Berlin, BERLIN, Hesse, Bavaria, Europe, Poland, Czech Republic, Austria, Slovakia, Hungary, Turkey, Ankara, Prague, Warsaw

☆ Near collision, tense encounter as Beijing flexes muscles in the South China Sea
▼ + stars: | 2023-10-06 | by ( Adrian Portugal | ) www.reuters.com time to read: +3 min

[1/5] A Chinese maritime militia vessel is seen sailing in the South China Sea, October 4, 2023. REUTERS/Adrian Portugal/File photo Acquire Licensing RightsNEAR THE SECOND THOMAS SHOAL, South China Sea, Oct 6 (Reuters) - The crew of the Philippine coastguard boat watch anxiously as an imposing Chinese vessel draws near and cuts off its path, coming within a metre of collision in a vast stretch of open water in the South China Sea. Tense encounters like this, about 100 miles (185 km) off the Philippines and witnessed by a Reuters journalist, are becoming more frequent in Asia's most contested waters as China presses its claim of ownership over almost the entire South China Sea. China condemned the resupply mission, saying Philippine vessels had "intruded" in its waters in the Spratly Islands without its permission. The stakes are high if this brinkmanship turns to miscalculation in the South China Sea.

Persons: Adrian Portugal, Thomas, Jay Tarriela, Karen Lema, Martin Petty Organizations: REUTERS, THOMAS, Philippine coastguard, BRP, coastguard, Philippine, Reuters, Beijing, Mutual Defense Treaty, Pentagon, Thomson Locations: South China, Philippines, China, Philippine, Beijing, Sierra Madre, Spratly, Manila, Washington, United States, South

☆ Billionaire investor Jeff Gundlach warns of a recession as markets roil: 'Buckle up'
▼ + stars: | 2023-10-04 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

"If the unemployment rate ticks up just a couple of tenths it will be recession alert," Gundlach wrote on X. AdvertisementAdvertisementBond-market turmoil could be a sign that a recession is on the way, Jeff Gundlach has warned. "The US Treasury yield curve is de-inverting very rapidly," Gundlach wrote in a post on X. That "should put everyone on recession warning, not just recession watch," he added. That's led to the gap in returns offered by 2- and 10-year Treasurys narrowing to just 33 basis points, for the tightest yield curve since late March.

Persons: Jeff Gundlach, Gundlach, Buckle, —, That's, –, David Lebovitz Organizations: DoubleLine, Service, Treasury, Federal Reserve, London School of Economics, JPMorgan

☆ Did Biden and McCarthy strike a secret Ukraine side deal? Republicans and Democrats stoke suspicion after Ukraine funding was cut from spending bill
▼ + stars: | 2023-10-04 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Lawmakers this week were buzzing about a secret Ukraine side deal between Biden and Kevin McCarthy. Billions of dollars in funding for Ukraine were left out of a last-minute spending bill. But any deal the two struck was likely rendered moot after McCarthy was ousted from his speaker role Tuesday. "We just made one about Ukraine," Biden said. But without additional funding, the Pentagon has only a few months of funding left to maintain current spending rates in Ukraine, Kirby said.

Persons: Biden, Kevin McCarthy, McCarthy, —, Matt Gaetz, Sen, Michael Bennet, we'll, Karine Jean, Pierre, John Kirby, Kirby, Putin Organizations: Ukraine, Service, Republicans, Democrats, California Republican, Republican, Colorado Democrat, CBS News, National Security, DC, Pentagon Locations: Ukraine, Washington ,, Florida, Colorado, Russia

☆ Spiking bond yields are stoking financial chaos – and the Fed will have to clean up the mess, JPMorgan strategist says
▼ + stars: | 2023-10-03 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

A financial crisis is brewing as bond yields soar, according to JPMorgan Asset Management's David Lebovitz. "Eventually there's going to be a financial accident… something will break," he said Monday. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementSoaring bond yields risk triggering financial chaos, a JPMorgan strategist has warned. Higher yields tend to be bad news for stocks – because they reduce the relative returns offered by a riskier asset class.

Persons: David Lebovitz, there's, —, they've Organizations: Asset, Service, JPMorgan, Federal Reserve, JPMorgan Asset Management, Bloomberg, Wall, Treasury, Silicon Locations: California

☆ US and Philippines launch military drills with partners as China tensions mount
▼ + stars: | 2023-10-03 | by ( Brad Lendon | ) edition.cnn.com time to read: +4 min

“In Tagalog ‘Sama Sama’ is a phrase that means ‘together’ and there could not be a better phrase to capture the spirit of this exercise,” said Capt. The US Navy, US Marine Corps, and Armed Forces of the Philippines joined partners to commence the seventh iteration of exercise Sama Sama in Manila on October 2. Earlier this year, the Philippine coast guard accused a Chinese coast guard ship of pointing a “military grade” laser at some of its crew, temporarily blinding them. Sama Sama features more than 1,800 personnel from the participating countries, many aboard warships from the Philippines, the US, the UK, Japan and Canada. Sama Sama will run through October 13.

Persons: ”, Sean Lewis, ‘, Adm, Toribio Adaci, Gilberto Teodoro Jr, ” Teodoro, “ It’s, it’s Organizations: CNN, United States, US Navy, US Navy’s Destroyer Squadron, Philippine Navy, Philippine News Agency, US Marine Corps, Armed Forces, Philippine Defense, Foreign Ministry, Philippine Naval Forces Southern Locations: Philippine, Manila, Beijing, South China, Australia, Canada, France, Japan, United Kingdom, Malaysia, Philippines, CNN Beijing, China, Spratly, Vietnam, Brunei, Taiwan, Philippine Naval Forces Southern Luzon

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