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☆ Can't figure out this economy? Walmart, Home Depot are having trouble, too
▼ + stars: | 2023-02-26 | by ( Tim Mullaney | ) www.cnbc.com time to read: +7 min

Joe Raedle | Getty Images News | Getty ImagesIf you think the economy is confusing right now, consider how baffling it must look to Home Depot and Walmart. Home Depot said consumer spending is holding up, but that it expects a flat sales-growth year overall, with declining profits. Friday's PCE showed consumer spending rose more than expected as prices increased, jumping 1.8% for the month compared to the estimate of 1.4%. It wasn't a good week for the retail sector or consumer stocks, either. "The outlook for sustained consumer spending growth remains," wrote consumer analyst Jason English.

☆ BlackRock cooperating with SEC probe of investment advisers' communications
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: 1 min

Feb 24 (Reuters) - BlackRock Inc (BLK.N) said it was cooperating with a U.S. Securities and Exchange Commission investigation into record keeping of electronic communications of its investment advisers, according to a filing on Friday. The asset manager is the latest in a list of financial firms under the regulator's scrutiny. Earlier this week, Wells Fargo (WFC.N) said U.S. regulators were investigating the bank's retention of employee communications over "unapproved" messaging tools. The SEC and the Commodity Futures Trading Commission (CFTC) fined 16 financial firms last year, a combined $1.8 billion after it was found that their employees had discussed deals on personal devices and apps. Reporting by Anirban Chakroborti in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ Domino's and Papa John's shares sink after pizza chains deliver soft sales, outlook
▼ + stars: | 2023-02-23 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +2 min

Domino's Pizza and Papa John's both fell in pre-market trading after reporting mixed earnings on Thursday morning. Domino's missed analyst estimates on U.S. same-store sales and total revenue for the quarter. Domino's reported wavering demand amid a national driver shortage. U.S. company-owned stores reported revenues of $117 million, falling short of StreetAcount estimates of $129.3 million. This month, Domino's launched loaded potato tots with three flavors, which some analysts think could raise sales.

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☆ Explainer: What have Russia and China said about peace in Ukraine?
▼ + stars: | 2023-02-23 | by ( Caleb Davis | ) www.reuters.com time to read: +5 min

Zelenskiy last year proposed his own 10-point peace plan, which calls on Russia to withdraw all its troops from Ukraine and to respect Ukraine's territorial integrity. Russia still controls nearly a fifth of Ukraine, despite losing swathes of land in major battlefield setbacks last year. Russia said on Wednesday that it welcomed China taking a more active role in efforts to resolve the conflict. Meeting Putin on Wednesday, Wang said China was willing to play a "constructive role" to end the Ukraine conflict. German Foreign Minister Annalena Baerbock said China had an obligation to use that influence to seek peace in Ukraine.

NEW YORK, Feb 21 (Reuters) - A U.S. judge said on Tuesday victims of the Sept. 11, 2001, attacks are not entitled to seize $3.5 billion of assets belonging to Afghanistan's central bank to satisfy court judgments they obtained against the Taliban. U.S. District Judge George Daniels in Manhattan said he was "constitutionally restrained" from finding that the Taliban was Afghanistan's legitimate government, a precursor for attaching assets belonging to Da Afghanistan Bank, or DAB. Daniels said letting victims seize those assets would amount to a ruling that the Taliban are Afghanistan's legitimate government. He said U.S. courts lack power to reach that conclusion, noting that Biden administration does not recognize the Taliban as Afghanistan's government. The case is In re Terrorist Attacks on Sept. 11, 2001, U.S. District Court, Southern District of New York, No.

☆ U.S., allies to tighten screws on Russian sanctions evasion -Treasury's Adeyemo
▼ + stars: | 2023-02-21 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

Adeyemo said a coalition of more than 30 countries would crack down on Russia's purchases of dual-use goods like refrigerators to secure semiconductors needed for its military. The sanctions would also seek to do more to stem the transshipment of oil and other restricted goods through bordering countries, although he did not give details. Officials would also warn companies and individuals still doing business with Russia that they faced sanctions if they continued doing so. They were also providing "actionable" intelligence to countries, including several of Russia’s neighbors, to enable them to stamp out sanctions evasion. Adeyemo acknowledged that Russia's economic data appeared better than expected at the start of the war, but said Western sanctions were forcing the Kremlin to use limited resources to prop up its economy.

☆ US says UN Security Council silence on North Korea is dangerous
▼ + stars: | 2023-02-20 | by ( Michelle Nichols | ) www.reuters.com time to read: +2 min

UNITED NATIONS, Feb 20 (Reuters) - The United States proposed on Monday that the U.N. Security Council condemn North Korea's ballistic missile launches and encourage Pyongyang to engage in diplomacy, warning that the 15-member body's failure to respond had become dangerous. China and Russia oppose any further action by the Security Council, arguing that putting further pressure on North Korea would not be constructive. The pair vetoed a U.S.-led push to impose more U.N. sanctions on North Korea in May last year. It is dangerous," she told the Security Council, proposing that it adopt a formal presidential statement - one step below a resolution - to condemn North Korea's action and urge diplomacy. After the Security Council meeting, two-thirds of the body's members and South Korea issued a joint statement - read by Thomas-Greenfield - condemning North Korea's missile launches.

☆ How Biden's surprise trip to Kyiv was kept secret - but not from Russia
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +3 min

[1/3] President Joe Biden arrives for a surprise visit with Ukrainian President Volodymyr Zelenskiy, Monday, Feb. 20, 2023, in Kyiv. After months of planning, Biden on Friday decided to go ahead with the trip, according to the White House. By then it was Sunday night, and Biden's train traveled in the dark with a heavy security presence on board. "It's good to be back in Kyiv," Biden said after stepping off the train. U.S. national security adviser Jake Sullivan, who accompanied the president, said U.S. officials did notify Russian officials that Biden would be traveling to Kyiv.

☆ Ukraine presses U.S. Congress members for F-16 jets
▼ + stars: | 2023-02-19 | by ( Jonathan Landay | ) www.reuters.com time to read: +4 min

MUNICH, Germany Feb 19 (Reuters) - Ukrainian officials have urged U.S. Congress members to press President Joe Biden's administration to send F-16 jetfighters to Kyiv, saying the aircraft would boost Ukraine's ability to hit Russian missile units with U.S.-made rockets, lawmakers said. The conference - primarily focused on Ukraine - came days before the Feb. 24 anniversary of Russia's invasion. Support is building on both sides of the Atlantic for providing Ukraine with advanced NATO-standard jetfighters. Calls to supply Ukraine with advanced jetfighters follow agreements last month by France, Britain, the United States and Germany to supply Kyiv with modern battle tanks. Washington has provided some $30 billion in military aid to Ukraine since the beginning of what Moscow calls its "special military operation."

[1/2] Word "Oil" and stock graph are seen through magnifier displayed in this illustration taken September 4, 2022. REUTERS/Dado Ruvic/Illustration/FilesFeb 17 (Reuters) - Oil prices were on track for weekly losses of 2.5% as strong U.S. economic data heightened concerns that the Federal Reserve would further tighten monetary policy to tackle inflation, a move that could hit fuel demand. Data showed that the U.S. producer price index (PPI) rose 0.7% in January, after declining 0.2% in December. "Crude oil prices were also lower due to risk-off trades following the selloff on Wall Street following the PPI data and a strong U.S. dollar," Teng said. Oil prices have seesawed over the past weeks between fears of a recession hitting the United States amid inflation-fighting rate hikes and hopes for a pick-up in demand in China, the world's top oil importer.

[1/2] Word "Oil" and stock graph are seen through magnifier displayed in this illustration taken September 4, 2022. REUTERS/Dado Ruvic/Illustration/FilesFeb 17 (Reuters) - Oil prices were on track for weekly losses as strong U.S. economic data heightened concerns that the Federal Reserve would further tighten monetary policy to tackle inflation, a move that could hit fuel demand even as crude stockpiles grow. Data showed that the U.S. producer price index (PPI) rose 0.7% in January, after declining 0.2% in December. "Crude oil prices were also lower due to risk-off trades following the selloff on Wall Street following the PPI data and a strong U.S. dollar," Teng said. Oil prices have seesawed over the past weeks between fears of a recession hitting the United States amid inflation-fighting rate hikes and hopes for a pick-up in demand in China, the world's top oil importer.

☆ Senators pressure CFIUS to wrap up TikTok probe with strict restrictions, potentially even separating it from its Chinese parent company
▼ + stars: | 2023-02-16 | by ( Lauren Feiner | ) www.cnbc.com time to read: +4 min

The New Economy Forum is being organized by Bloomberg Media Group, a division of Bloomberg LP, the parent company of Bloomberg News. The company has said U.S. user data is not stored in China and that it continually tests its security measures. That kind of access would be particularly worrying since China's national security laws allow it to compel companies based there to hand over internal information if the government believes there is a national security issue at play. The group is empowered to investigate foreign investments and transactions with potential national security risks. "CFIUS is committed to taking all necessary actions within its authority to safeguard U.S. national security," a Treasury spokesperson said in a statement.

☆ Putin, secure in power, sets stage for long and draining war
▼ + stars: | 2023-02-15 | by ( Guy Faulconbridge | ) www.reuters.com time to read: +7 min

One senior Russian source with knowledge of decision-making said Putin's hopes of burnishing his reputation had been dashed. "Ahead, it will be even more difficult and more costly for both Ukraine and Russia," said the source, who spoke on condition of anonymity. For all the geopolitical shock waves Putin has caused, he still has no serious rival for power, according to five senior Russian sources close to decision-making. The source said Russia was at a disadvantage in both military technology and motivation, but that the war would still continue "for a very long time". "The president believes he can win in Ukraine," said one senior Russian source.

☆ China says U.S. balloons flew over Xinjiang, Tibet, warns of countermeasures
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Feb 15 (Reuters) - China said on Wednesday that U.S. high altitude balloons flew over its Xinjiang and Tibet regions, and it will take measures against U.S. entities that undermine Chinese sovereignty as a diplomatic dispute festered. China said earlier this week that U.S. balloons had flown over its airspace without permission more than 10 times since May 2022, without giving details on their location. "Without the approval of relevant Chinese authorities, it has illegally flown at least 10 times over China's territorial airspace, including over Xinjiang, Tibet and other provinces," Wang told a regular daily briefing on Wednesday. Washington later added six Chinese entities connected to Beijing's suspected surveillance balloon program to an export blacklist. "China is firmly opposed to this and will take countermeasures against relevant U.S. entities that undermine China's sovereignty and security in accordance with the law," Wang said.

☆ Ukraine’s Troops Will Need Fewer Bullets and Shells After Training, U.S. Hopes
▼ + stars: | 2023-02-14 | by ( Daniel Michaels | Nancy A. Youssef | ) www.wsj.com time to read: 1 min

BRUSSELS—Ukraine’s Western backers hope that improved combat training will help trim Kyiv’s voracious demand for ammunition and artillery, said U.S. Defense Secretary Lloyd Austin. Ukrainian troops over the past year have fired so many rounds at Russia’s invading forces that the countries supporting Kyiv are struggling to supply munitions fast enough and have had to increase arms production.

☆ As Mystery Objects Get Shot Down, U.S. Sets Up New Task Force on UFOs
▼ + stars: | 2023-02-13 | by ( Gordon Lubold | Nancy A. Youssef | ) www.wsj.com time to read: 1 min

WASHINGTON—Amid a baffling series of incidents in which the U.S. has shot down three unidentified flying objects, the White House said Monday it would create a team expected to study airborne objects and the potential security and safety risks they pose. The new group, created at the behest of national-security adviser Jake Sullivan, would comprise elements of the Pentagon, the Federal Aviation Administration, the Department of Homeland Security and other government agencies, said U.S. officials.

☆ Explainer: What we know about the objects shot down by the U.S. military
▼ + stars: | 2023-02-13 | by ( Patricia Zengerle | ) www.reuters.com time to read: +4 min

Here is what we know - and do not know - about the objects:WHAT ARE THE OBJECTS? It has been identified by U.S. officials as a balloon that China was using to spy on the United States. F-22s also shot down the objects over Alaska on Friday and Canada on Saturday. IS THE UNITED STATES SENDING BALLOONS OVER CHINA? Washington said another Chinese balloon had been spotted over Latin America.

☆ As new high-altitude objects are shot down over North America, lawmakers say they need more information
▼ + stars: | 2023-02-12 | by ( Ashley Capoot | ) www.cnbc.com time to read: +4 min

A jet flies by a suspected Chinese spy balloon as it floats off the coast in Surfside Beach, South Carolina, U.S. February 4, 2023. On Feb. 4, the U.S. military shot down a suspected Chinese spy balloon that had been transiting across the country for several days. The White House announced a second object had been shot down on Friday that was flying over Alaska at about 40,000 feet. Gen. Pat Ryder said Canadian authorities are conducting recovery operations to help both countries learn more about the nature of the object downed in Canada. He said he suspects that since the objects were downed in remote areas, there is not a lot of information to share yet.

☆ U.S. Exempts Earthquake Aid to Syria From Sanctions
▼ + stars: | 2023-02-10 | by ( Mengqi Sun | ) www.wsj.com time to read: +3 min

Funds sent to Syria for earthquake relief that might otherwise be barred by U.S. sanctions are exempted for about six months, the U.S. Treasury Department said. The Treasury’s Office of Foreign Assets Control, which implements and enforces U.S. sanctions, issued a general license Thursday night allowing U.S. banks and money transmitters to process transactions to and from Syria if they are intended for earthquake aid. The language is seen as providing more protection to financial institutions processing the transactions, sanctions experts said. Paul Carroll, director of the Charity & Security Network, a resource and advocacy center for nonprofit organizations, said delivering aid to Syria also faces logistical challenges. “The obstacles to getting aid to Syria [for earthquake relief] is more about parties, the bad and good guys, than about the sanctions themselves,” Mr. Carroll said.

☆ Oil dips but heads for weekly gain despite U.S. downturn fears
▼ + stars: | 2023-02-10 | by ( Sonali Paul | ) www.reuters.com time to read: +2 min

MELBOURNE, Feb 10 (Reuters) - Oil prices fell in early trade on Friday but were headed for a weekly gain with the market continuing to seesaw between fears of a recession hitting the United States and hopes for strong fuel demand recovery in China, the world's top oil importer. Brent crude futures fell 28 cents, or 0.3%, to $84.22 a barrel by 0117 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 35 cents, or 0.5%, to $77.71. The latest U.S. oil inventory data this week also raised fears about a slowdown in the world's biggest economy, with crude stocks having climbed to their highest since June 2021. The lower rate hike expectations drove the dollar down, which in turn supported oil prices. The market has also been buoyed by Saudi Arabia's move to increase its official crude sales prices to Asia, seen as signalling a demand recovery in China.

☆ Biden says Chinese spy balloon not a major security breach
▼ + stars: | 2023-02-10 | by ( Steve Holland | ) www.reuters.com time to read: +2 min

FBI/Handout via ReutersWASHINGTON, Feb 9 (Reuters) - President Joe Biden, under fire from some lawmakers, said on Thursday he did not view a Chinese spy balloon that transited the United States before it was shot down in the Atlantic Ocean to have been a major security breach. "It's not a major breach," Biden said. Biden on Feb. 2 ordered the balloon shot down once it crossed into the northwestern United States, but acquiesced to the U.S. military's request to not act until it was over water. The 200-foot-tall (61-meter) balloon, along with its undercarriage of electronic gadgetry, was shot down by a U.S. fighter jet off the coast of South Carolina on Feb. 4. Some Republicans and Democrats have complained that Biden should have had the balloon downed sooner.

"We don't know who owns this object," said White House spokesperson John Kirby, adding that it was unclear where it began its flight. President Joe Biden ordered the shootdown, which was announced from the White House. Some lawmakers criticized the president for not shooting down the Chinese balloon sooner. The object was shot down off the coast of northeastern Alaska over frozen U.S. territorial waters near the Canadian border. UNMANNED VESSEL[1/4] White House National Security Council Strategic Communications Coordinator John Kirby takes questions during the daily press briefing at the White House in Washington, U.S. February 10, 2023.

The suspected Chinese spy balloon drifts to the ocean after being shot down off the coast in Surfside Beach, South Carolina, U.S. February 4, 2023. The U.S. slapped sanctions against six Chinese aerospace companies that it said supported the Beijing's reconnaissance balloon program, adding them to a list of companies the U.S. considers a significant national security threat. We will not hesitate to use the Entity List and our other regulatory and enforcement tools to protect U.S. national security." Last weekend, a high altitude Chinese surveillance balloon was shot down off the coast of South Carolina. "Today's action makes clear that entities that seek to harm U.S. national security and sovereignty will be cut off from accessing U.S.

☆ Fast food reigns supreme as inflation weighs on pricier restaurants
▼ + stars: | 2023-02-09 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Fast-food chains are looking like the big winners in the fourth quarter — and beyond — as fast-casual and casual-dining restaurants struggle to attract customers. Many publicly traded restaurant companies haven't reported their latest quarterly results yet, but for those that have, a pattern is emerging. The fast-food giant said U.S. same-store sales climbed 10.3%, helped in part by low-income consumers returning more frequently than they had for the prior two quarters. Taco Bell's domestic same-store sales climbed 11%, boosted by increased breakfast orders, the return of Mexican Pizza and its value meals. Pizza Hut's U.S. same-store sales grew 4%, while KFC's ticked up 1% as it faced tough year-ago comparisons.

Russia, without providing evidence, has repeatedly said the West was behind the blasts affecting the Nord Stream 1 and 2 pipelines last September - multibillion-dollar infrastructure projects that carried Russian gas to Germany. In his blog post, entitled "How America Took Out The Nord Stream Pipeline", Hersh said a plan was hatched in 2021 at the highest levels in the United States to destroy the pipelines. Russian Foreign Minister Sergei Lavrov said earlier this month that Washington was directly involved in the sabotage of the pipelines. Deputy Foreign Minister Sergei Ryabkov said there would be "consequences" for Washington, adding the report was not a surprise for Russia as it had long considered the United States and possibly other NATO members were behind the blasts. The United States should pay "compensation to countries affected by the terrorist attack", Volodin added.

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