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☆ Country Garden dodges default by making last minute debt payments, state media reports
▼ + stars: | 2023-09-05 | by ( Laura He | ) edition.cnn.com time to read: +2 min

The two dollar payments come after the company won last minute support late last week from Chinese investors to delay payment of a maturing yuan-denominated bond. Country Garden, which was China’s largest residential developer by sales last year, hasn’t responded to a CNN request for comment. Shares in Country Garden, which dropped as much as 5% on Tuesday, pared losses following the publication of the media reports. It has about 31 billion yuan ($4.3 billion) in bonds set to mature through the end of 2024, according to Moody’s. The eight bonds have a total outstanding balance of 10.8 billion yuan ($1.5 billion) and are set to mature later this year, the report said.

Persons: hasn’t, Yicai Organizations: Hong Kong CNN, China Securities, CNN Locations: Hong Kong, Moody’s

☆ Ukrainian intercepts show Russian soldiers’ anger at losses, disarray
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +9 min

Story contains strong languageUkraine’s counteroffensive was in its second month when Andrey, a Russian soldier, called his wife to say his unit was taking heavy casualties. The expletive-laden intercepts, shared with Reuters by a Ukrainian intelligence source, provide a rare - albeit partial - glimpse into the conditions of some Russian soldiers as Kyiv prosecuted a major counteroffensive, which started in early June, two military analysts told Reuters. Ukraine has acknowledged that its efforts to recapture territory have been hindered by vast Russian minefields and well-prepared defensive lines. The Ukrainian intelligence source said they illustrated the challenges facing Russian soldiers but did not elaborate on how the recordings were selected. In the excerpts, several soldiers used profane language to describe Russian units that had taken heavy casualties and had been unable to retrieve their wounded.

Persons: Andrey, ” Andrey, “, Neil Melvin, Vladimir Putin, SBU, ” Maxim, Anna, Kupiansk, Maxim, Putin, ”, Elena, Alexei, “ Everyone’s, Dmitry Medvedev, Tom Balmforth, Filipp Lebedev, Eve Watling, Daniel Flynn Organizations: Security Service of Ukraine, Reuters, International Security, Royal United Services Institute, Russia’s Defence Ministry, Ukrainian General Staff, Lyman, Russia’s 52nd Regiment, U.S . Defence Intelligence Agency, “, ” Reuters, Russian Security Council Locations: Russian, Soviet, Soviet Union, Ukraine, Russia, London, Irkutsk, Russia’s, Afghanistan, Rubizhne, Ukraine’s, Luhansk

☆ How is Italy solving an invasion of blue crabs? With sauteed garlic and a squeeze of lemon
▼ + stars: | 2023-09-04 | by ( ) edition.cnn.com time to read: +6 min

Agricultural industry group FedagriPesca estimates that more than half the nation’s clams and mussels were eaten by the blue crab this summer. Culinary solutionA fisherman harvests blue crabs in the lagoon of Scardovari, south of Venice, Italy, on August 11, 2023. Italian farmers’ group Coldiretti suggests serving the blue crab with rosemary in a salad, or with sauteed garlic over spaghetti. Blue crab is fast becoming a feature item at restaurants across the country, primarily as a spaghetti sauce with fresh tomatoes. Lionello Cera, who runs the two-Michelin-starred Antica Osteria Cera di Campagna Lupia, says he has tried it in various dishes, but will not be putting blue crab on his menu anytime soon.

Persons: Rome, ”, Piero Cruciatti, “, They’ve, ” Enridca Franchi, Coldiretti, Giorgia Meloni, Francesco Lollobrigida, Lollobrigida, ” Gabriella Gibin, Gibin, Lionello Cera, Antica Osteria Cera, Campagna Lupia, fishmonger Organizations: Rome CNN, Getty, UNESCO, University of Siena, CNN Locations: Adriatic, Italy, Scardovari, Venice, AFP, Po Delta, Tuscany, United States, Asia, Rovigo, Roman, Testaccio

☆ Low water levels in Texas reveal dinosaur tracks dating back 110 million years
▼ + stars: | 2023-09-02 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +5 min

CNN —As Texas baked in record-breaking heat this summer and a growing drought pushed water levels down, a group of volunteers uncovered something sort of magnificent: new giant dinosaur tracks that are believed to be from around 110 million years ago. Paul Baker, the retail manager at Dinosaur Valley State Park, told CNN he has “never seen this many dinosaur tracks” before. It is a hotspot for dinosaur enthusiasts and tourists who typically flock the now-dry Paluxy River to fish, swim and kayak. Paul BakerThe Paluxy River usually draws tourists for fishing, swimming and kayaking, but has been bone dry in this summer's growing drought. Baker was raised in Dinosaur Valley State Park – his father was a park manager for 30 years – and now operates several businesses, including the park’s gift shop.

Persons: Paul Baker, ”, Baker, I’d, it’s, ” Baker, “, dino, ” Kuban, –, ” Read, Mead Organizations: CNN, Dinosaur, US Drought Monitor, Glen Kuban, Society, Master Naturalists, North America — Locations: Texas, Dallas, Dinosaur, Kuban, Dinosaur Valley, North America, ”, Iraq

☆ Wall St mixed, dollar gains after inflation data
▼ + stars: | 2023-08-31 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. European shares reversed earlier gains to close lower as falling consumer staples and luxury stocks offset gains in financials and real estate. Emerging market stocks lost 0.78%. The dollar index (.DXY) rose 0.41%, with the euro down 0.71% to $1.0846. U.S. Treasury yields were last a bit lower in choppy trading after data reinforced expectations that the Fed will hold interest rates steady in September.

Persons: Brendan McDermid, Dow, Joseph Sroka, we’ve, Sroka, Brent, Stephen Culp, David Evans, Nick Zieminski Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Nasdaq, Commerce, PCE, CPI, PPI, Fed, Dow Jones, Japan's Nikkei, European Central Bank, Treasury, Thomson Locations: New York City, U.S, Atlanta, financials, Asia, Pacific, Japan, OPEC

On Sunday, Evergrande reported losses of 33 billion yuan ($4.53 billion) for the first half of the year, versus a 66.4 billion yuan loss in the same period a year earlier. The Chinese property sector’s worsening debt crisis poses a significant challenge for President Xi Jinping and his policy makers, with the country’s economy already reeling from weaker domestic and overseas demand. China’s State Council Information Office, which handles media queries on behalf of the government, declined to comment on the property market and Evergrande’s fate. He sold the first complex the following year for 80 million yuan, according to Evergrande’s website. The committee investigated the matter after banks seized 13.4 billion yuan ($1.84 billion)of deposits held by the property-services unit in 2021.

Persons: Aly, Hui Ka Yan, Hui, Evergrande, Suppliers haven’t, ”, Anne Stevenson, Yang, Evergrande’s, Xi Jinping, Reuters wasn’t, Kelly Richmond Pope, ” Hui, “ Evergrande, Stevenson, Engen Tham, Julie Zhu, Clare Jim, Cassell Bryan Organizations: China Evergrande Group, REUTERS, Rights, China Evergrande, HK, Reuters, Suppliers, J Capital Research, Information Office, Political, Conference, Guangzhou Evergrande, soccer’s, Hong, Forbes, HengTen Networks, Management, Chicago’s DePaul University, Evergrande, Financial, Communist Party, “, China, Shanghai, Cassell, Low, Thomson Locations: China, Shenzhen, Guangdong province, Rights SHANGHAI, HONG KONG, United States, U.S, China’s, Henan province, Beijing, Hong Kong, Guangzhou, Evergrande, HengTen, Evergrande’s Hong Kong, Shanghai

☆ Russia and Ukraine are fighting the kind of drone war the US military has been worrying about, and it's scrambling to prepare for a future that's already here
▼ + stars: | 2023-08-31 | by ( Christopher Woody | Jake Epstein | ) www.businessinsider.com time to read: +14 min

The scale of the drone war in Ukraine is one of the most striking features of the conflict. "ISIS figured out how to arm their drones and attack us either with 'kamikaze' explosive-laden drones or drones that dropped" modified munitions, Townsend said. Soldiers with the 5th Battalion, 4th Air Defense Artillery Regiment train on an Avenger air-defense system in in July. In 2018, the Army reactivated the 5th Battalion, 4th Air Defense Artillery Regiment, returning a short-range-air-defense capability to Europe. AdvertisementAdvertisement"The war is showing how much [drones are] here and are affecting the war every day.

Persons: Ukraine isn't, Mara Karlin, wasn't, Karlin, that's, John Moore, Stephen Townsend, Townsend, Frank McKenzie, MAHMOUD TAHA, I've, Syria —, Richard Clarke, Clarke, Tom Karako, " McKenzie, McKenzie, Maj, Sean Gainey, Gainey, FADEL SENNA, Douglas Bush, Bush, they've, Col, Michael Parent, Narciso Contreras, Parent Organizations: Pentagon, Service, Defense Writers, US Marine, US Army, US Africa Command, ISIS, Getty, Army, US Special, Command, Aspen Security Conference, Missile Defense, Center for Strategic, International Studies, Patriot, —, US Air Force, Congressional Research Service, 5th Battalion, 4th Air Defense Artillery Regiment, Spc, Yesenia, Asymmetric Warfare Group, Battalion, Stryker, Washington DC, Marine Corps, US Army Yuma, US, Anadolu Agency, Pacific . The Defense Department Locations: Ukraine, Wall, Silicon, Armenia, Azerbaijan, Afghanistan, Iraq, Mosul, Syria, Homs, Europe, Washington, Russian, Kyiv, Russia, Lviv Oblast, China, Pacific

☆ Wall Street gains, dollar softens as weak data signals Fed pause
▼ + stars: | 2023-08-30 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Weak economic data could be good news for interest rates, as it could give the Federal Reserve a rationale for letting key interest rates stand at next month's monetary policy meeting. GDPFinancial markets have currently priced in a 88.5% likelihood of a September Fed pause, according to CME's FedWatch tool. Emerging market stocks rose 0.11%. The greenback extended its losses, touching a two-week low against a basket of world currencies in the wake of disappointing economic data. Crude prices edged higher as industry data showed tighter-than-expected supply as investors digested Hurricane Idalia's potential effect on demand.

Persons: Jason Reed, Dow, Oliver Pursche, Thomas Martin, Martin, Sterling, Brent, Stephen Culp, Sharon Singleton, Nick Zieminski, Josie Kao Organizations: U.S . Federal, REUTERS, Federal Reserve, Nasdaq, Federal, Wealthspire Advisors, Dow Jones, Japan's Nikkei, Treasury, U.S ., Thomson Locations: Washington, New York, Atlanta, Asia, Pacific, Japan, U.S

☆ The ex-Navy SEAL who says he killed Osama bin Laden was arrested on charges of assault
▼ + stars: | 2023-08-28 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

O'Neill previously had a run-in with the law for a DUI charge that was later dropped. O'Neill gained public notoriety in 2014 after he claimed to have fired the shot that killed bin Laden, the notorious Al Qaeda leader. AdvertisementAdvertisementOne source disputed O'Neill's story to Reuters and said another team member entered the room bin Laden was in before O'Neill. During the height of the COVID-19 pandemic in 2020, O'Neill claimed he was banned from Delta Air Lines because he refused to wear a mask during a flight. AdvertisementAdvertisementIn 2016, Montana prosecutors dropped a DUI charge against O'Neill.

Persons: Robert O, Neill, Al, O'Neill, Osama, Laden, Robert O'Neill, bin Laden, stuff's Organizations: Service, Navy, Dallas Morning News, Frisco Police Department, Delta Air Lines, US Navy, Navy Digital Ambassador, The Montana Locations: Al Qaeda, Wall, Silicon, Frisco , Texas, Collin, Montana

☆ Global warming link to intense rains in India's Himalayas - scientists
▼ + stars: | 2023-08-25 | by ( Shivam Patel | ) www.reuters.com time to read: +3 min

At least 240 people have died this year in the mountainous region as landslides and flash floods triggered by heavy rains buried homes and destroyed crops and infrastructure. Seasonal monsoon showers are vital for India's $3-trillion economy, bringing nearly 70% of the rain the country needs to water farms and refill reservoirs and aquifers. But the monsoon's convergence with a low-pressure weather system in the Himalayas in recent years has caused extremely heavy rains, something that scientists and officials have blamed on rising temperatures. Rains battered the two states following the convergence of the monsoon system with Western Disturbances, a weather system that originates in the Mediterranean Sea and moves east, bringing moisture-laden winds that cause winter rain and snow in the Himalayas. "The most significant change is that instead of having moderate rains spread out through the monsoon season, we have long dry periods intermittent with short spells of heavy rains," Koll said.

Persons: Stringer, Kuldeep Srivastava, Rains, Dimri, Roxy Mathew Koll, Koll, Shivam Patel, Mike Harrison Organizations: REUTERS, India Meteorological, HP, Indian Institute of Geomagnetism, Indian, Meteorology, Thomson Locations: Shimla, Himachal Pradesh, India, New Delhi, Uttarakhand, India's

In Florida, Senate Bill 254, enacted in May, banned gender-affirming care for minors but also created less-noticed barriers for adult care. The state laws largely intervene to stop gender-affirming medical care around adolescence: treatments such as puberty blockers, hormones and later, in rare cases, surgery. Medical consensus favors gender-affirming care as essential and sometimes life-saving, after careful consideration by multiple providers. But he also said gender-affirming medical treatments were extreme. Colorado has not enacted restrictions on gender-affirming care.

Persons: Marci Bowers, Jesse Ehrenfeld, you've, Bill, Rylee Brock, Gary Click, Boston Children's, Thomas Satterwhite, Satterwhite, Joseph Knoll, Syvonne Carter, Daniel Trotta, Donna Bryson, Suzanne Goldenberg Organizations: World Professional Association for Transgender Health, American Medical Association, Endocrine Society, American Academy of Pediatrics, Ohio House, FBI, U.S . Department of Homeland Security, Boston Children's Hospital, Multispecialty, Boston, Reuters, Fenway Institute, Boston Police Department, Massachusetts State Police, Colorado Children's Hospital, Colorado, Spektrum, 26Health, Thomson Locations: Massachusetts, United States, Florida, Champaign , Illinois, Omaha, Nebraska, Ohio, Boston, Texas, Colorado, Colorado , Illinois, New York, California, San Francisco, Orlando, Melbourne, Plume

☆ The earnings and economic data shows the consumer is still in control of the economy
▼ + stars: | 2023-08-23 | by ( Tim Mullaney | ) www.cnbc.com time to read: +9 min

Moody's says that consumer savings rates are rising after bottoming out in June 2022. "We still see it as a normalization, not a deterioration story when we talk about consumer credit.'' But consumer loan delinquency rates are at 2019 levels, and below any level ever seen before 2014, according to Federal Reserve data. At JPMorgan, mortgage credit quality is so solid that the bank reported no net chargeoffs in the second quarter. Overall, the Bureau of Economic Analysis says consumer spending on new vehicles rose $40 billion to $642.4 billion in the first half of the year, with most gains coming in the second quarter.

Persons: Brandon Bell, Arun Sundaram, haven't, Alastair Borthwick, Moody's, Scott Hoyt, Jeremy Barnum, it's, Barnum, David Fieldhouse, Hoyt, Sundaram, Horton, Goldman Sachs, Goldman Organizations: Chevrolet, Knapp, Getty, Amazon, Walmart, Home Depot, Bank of America, CFRA, Atlanta Federal Reserve Bank, JPMorgan Chase, Federal Reserve, JPMorgan, Federal, Wall, General Motors, GM, Ford, U.S, Toll, Pride Locations: Houston , Texas

China cut its one-year benchmark lending rate on Monday, which is set to further weigh on banks' NIM. Chinese commercial banks' NIM shrank sharply to 1.74% last quarter from 1.91% at the end of 2022, official data showed. Shares of China's biggest five banks have been sliding since early May amid concerns over the weakening economy. Debt-laden municipalities represent a major risk to China's economy and financial stability, after years of over-investment in infrastructure and plummeting returns from land sales. Still, there's really no getting around the fact that banks will need to sacrifice profitability to support the economy this year," Beddor added.

Persons: Florence, headwinds, Gary Ng, NIM, Christopher Beddor, there's, Beddor, Ziyi Tang, Ryan Woo, Sumeet Chatterjee, Himani Organizations: Bank of Communications, Fair for Trade, Services, REUTERS, China Construction Bank, Corporate, Investment Banking, Industrial, Commercial Bank of China, Bank of Communications Co, Agricultural Bank of China, JPMorgan, Thomson Locations: Beijing, China, BEIJING

☆ Hidden investors took over Corizon Health, a leading prison healthcare company. Then they deployed the Texas Two-Step.
▼ + stars: | 2023-08-21 | by ( Nicole Einbinder | Dakin Campbell | ) www.businessinsider.com time to read: +63 min

The nurse practitioner on duty that day was employed by Corizon Health, Inc., one of the nation's largest private prison healthcare providers. Under federal law, a bankruptcy judge may respond to evidence of self-dealing or perjury by appointing a trustee to take control of the bankrupt company, bankruptcy experts told Insider. Just six months before the Garcia family was scheduled to have their day in court, Corizon filed for bankruptcy. "The Corizon bankruptcy is presently in a court ordered mediation, and we are seeking a global resolution for all the parties involved." Goldberger's attorney, Joseph Haspel, responded to queries with a statement saying that "Mr. Goldberger is a passive investor" in Corizon, Tehum, YesCare, Perigrove, and Perigrove 1018.

Persons: Hector Garcia, Garcia, wriggling, Adria Malcom, Corizon, Bryan Baker, —, Doña Ana, Corizon ., Garcia's, Daniel Jimenez, Gina Macias, Belen Lowery, Hector Garcia , Jr, it's, Johnson, Tehum, Sen, Elizabeth Warren, I've, Isaac Lefkowitz, James Hyman, YesCare, Lefkowitz, Ian Cross, Lynn LoPucki, Tracey Grissom, William Kelly, Kelly, Hector Garcia Jr, Hector Jr, Ricky, he'd, Hector Garcia's, Ana County , New Mexico Hector Jr, Matt Coyte, Coyte, Hyman, didn't, Sara Tirschwell, Kholood, Tirschwell, Jason S, Ana County, Nick Tomecek, Christopher Atkinson, Wendy McGee, McGee, Stephanie Kiger, Anita Skipper, Atkinson, He's, Simche Steinberger, England, Steinberger's, Steinberger, Michael Flacks, Sylvia Jarrus, Cross, he's, David Gefner, Abraham Goldberger, Gefner, Perigrove, Terrence A, they'd, Oved, Goldberger, CHS Dana Anna, Flacks, Moneyman, Joel Landau, Joseph Haspel, Haspel, Andrew Levander, Landau, James Hyman's, It's, Genesis, David Harrington, Bill de Blasio, there'd, Hindenburg, David Paterson, Mark Roe, availing, Dick Durbin, Gefner . Lefkowitz, Tirschwell —, Davidson Kempner, Tim Hunter, Tirschwell's, catastrophically, Tirschwell's playbook, Jeff Sholey, Sholey, Steven Storch, Daniel's Organizations: Detention, Insider, Corizon Health, Inc, Housing, University of Missouri Health Care, Arizona Department of Corrections, Rehabilitation, Senate Banking Committee, Court, Middle, University of Florida, Alabama, futon, Health Services, New, Arizona, BlueMountain Capital Management, Flacks, Revenue, Corizon, New York Times, Tehum Care Services, CHS, YesCare Holdings, Okaloosa, Wyoming Department of Corrections, University of West, YesCare, Public, Alabama Department of Corrections, . Alabama Department of Corrections, Tehum, US, University of Missouri, LinkedIn, Flacks Group, Consulate Health Care, Justice Department, YesCare Corp, United Staffing Solutions, Charlotte, CHS Okaloosa, United, Solutions, Pharmacorr, Trade Center, Securities and Exchange Commission, Hindenburg Research, Alabama Department, Corrections, Geneva Consulting, Genesis Healthcare, Trade, Geneva, New York Stock Exchange, Pinta Capital Partners, The, Pinta Capital, New York Gov, Staffing Solutions, DG Realty, Harvard Law School, ACLU, Public Justice, Lawyers, Seven Trade, World Trade, Gefner, Southern, Southern District of Texas, The Alabama Department of Corrections, Southern Poverty Law Center, Medicare, Services, Quest Turnaround Advisors, New York City, Republican, city's Campaign Finance, CFB, Campaign Finance, Finance Locations: Ana, Las Cruces , New Mexico, facility's, Doña, Jimenez's, Las Cruces, Houston, New, Rockland County, Texas, Middle District, Tennessee, Michigan, Virginia, New York, Oregon, Idaho, New Mexico, Ana County , New Mexico, Corizon, Florida, New York City, A, York, Nashville, Missouri, Brentwood , Tennessee, Delaware, Okaloosa, Florida's panhandle, Okaloosa County, Okaloosa County , Florida, University of West Florida, YesCare, Wyoming, Shawnee County , Kansas, Bernalillo County , New Mexico, Tehum, Perigrove, Suffern, Brooklyn, America, Manhattan, Suffern , New York, Geneva, nonpayment, United States, Rivington, Alabama, Southern District, Wexford, Maine, Corizon's Texas, Mexico, Tirschwell's, YesCare Corp

[1/2] Monrovia NSU CHALLENGER bulk carrier transits the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama April 19, 2023. The Panama Canal Authority has reduced maximum ship weights and daily ship crossings in a bid to conserve water. Container ships are the most common users of the Panama Canal and transport more than 40% of consumer goods traded between Northeast Asia and the U.S. East Coast. Some shipping executives are bracing for more reductions later this year, noting that in 2020 a less severe drought prompted canal operators to reduce crossings to 27 per day. "The Panama Canal is just the latest example."

Persons: Aris Martinez, Max, Drew Lerner, Peter Sand, Steve Ferreira, STRI's Steven Paton, Paton, Brian Bourke, Lisa Baertlein, Marianna Parraga, Elida Moreno, Louise Breusch Rasmussen, Deepa Babington Organizations: Monrovia NSU CHALLENGER, REUTERS, ANGELES, Evergreen Marine, Pacific, Panama Canal Authority, Northeast, U.S ., Smithsonian Tropical Research, El Nino, Central American, Canal Authority, SEKO Logistics, Thomson Locations: Cocoli, Panama, Panama City, HOUSTON, China, U.S, Northeast Asia, U.S . East Coast . U.S, United States, Chile, Brazil, Suez, Gatun Lake, El, U.S . East Coast, Los Angeles, Houston, Copenhagen

☆ China vows to coordinate support to resolve local government debt risks
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +3 min

Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee/ File Photo Acquire Licensing RightsBEIJING, Aug 20 (Reuters) - China will coordinate financial support to resolve local government debt problems, the central bank said in a statement on Sunday, as policymakers look to shore up an increasingly shaky economic recovery and reassure worried investors. Financial departments should coordinate support to resolve local debt risks, enrich tools to prevent and resolve debt risks, strengthen risk monitoring and firmly hold the line on avoiding systemic risk, according to the PBOC statement. Bloomberg reported on Aug. 11 that China will offer local governments a combined 1 trillion yuan ($137 billion) in bond issuance quotas for refinancing. "Financial support to the real economy must be strong enough" while major banks should increase lending, the statement said.

Persons: Jason Lee, Fitch, Pan Gongsheng, Xiao Yuanqi, Li Chao, PBOC, Ellen Zhang, Siyi Liu, Ryan Woo, Kim Coghill Organizations: People's Bank of China, REUTERS, Rights, Communist Party, Bloomberg, PBOC, National Financial Regulatory, China Securities Regulatory, Thomson Locations: Beijing, China, Rights BEIJING

☆ S.African municipalities' unpaid dues to Eskom rise to $3.3 bln-minister
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +2 min

JOHANNESBURG, Aug 20 (Reuters) - The amount of unpaid dues that South African municipalities owe debt-laden power company Eskom has risen to more than 63.2 billion rand ($3.33 billion) and is increasing exponentially, risking even longer power cuts around the country, the electricity minister said on Sunday. Kgosientsho Ramokgopa said the figure had risen by 4.7 billion rand since the start of this year. Eskom supplies power to 238 municipalities with the top 20 of them accounting for 77% or 48.9 billion rand of the total overdue debt, Ramokgopa said. The government is exploring ways to resolve the municipal debt crisis and is looking at funding from various means to upgrade the distribution infrastructure, Ramokgopa said, without giving any timeline. ($1 = 18.9890 rand)Reporting by Promit Mukherjee; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

Persons: Kgosientsho Ramokgopa, Ramokgopa, Eskom, Promit Mukherjee, Susan Fenton Organizations: Thomson Locations: JOHANNESBURG, South Africa

☆ Dalio says China is overdue in reducing its debt
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 17 (Reuters) - Legendary investor Ray Dalio, a big enthusiast and investor in China, said on Thursday the world's second largest economy is overdue in conducting a "big debt restructuring." Dalio said deleveraging is never an easy task, but in the case of China it can be more manageable because most of its debt is in domestic currency and is held by its citizens. Very popular among Chinese investors, Dalio is a self-proclaimed Sinophile with long connections with China. Last year, Bridgewater doubled its fund assets in China to more than 20 billion yuan ($2.74 billion), cementing its position as the biggest foreign hedge fund in the country. The hedge fund launched its first onshore China fund in 2018 and, since then, two other funds have been established.

Persons: Ray Dalio, Bridgewater's, Brendan McDermid, Zhu Rongji, Dalio, deleveraging, Carolina Mandl, Sandra Maler Organizations: REUTERS, Chinese, Bridgewater Associates, Bridgewater, Carolina, Thomson Locations: New York City, U.S, China, . Connecticut, New York

☆ Russia's secretly trying to make its arsenal of exploding drones bigger and deadlier, leaked documents say
▼ + stars: | 2023-08-17 | by ( Chris Panella | ) www.businessinsider.com time to read: +3 min

Russia is trying to make its exploding drones deadlier, according to leaked documents. The documents, obtained by The Washington Post, detail efforts to bolster their UAV program. Now, leaked documents show Russia plans to build its own drones and is exploring a deadlier variant able to strike autonomously. Ukraine has also been experimenting with better drones, including AI-enabled drones that are more resistant to jamming. The Iranian-made Shahed-136s that Russia uses are a kind of loitering munition with a range of around 1,250 miles.

Organizations: The Washington, Service, Russia, The, The Washington Post Locations: Russia, Moscow, Wall, Silicon, Ukraine, Kyiv, The Washington, Iran, Iranian

☆ Fast times, big crowds as worlds return to Europe
▼ + stars: | 2023-08-16 | by ( Mitch Phillips | ) www.reuters.com time to read: +4 min

Hungary itself has a woeful world championship record, having never won a gold medal. However, World Athletics says ticket sales have been "strong" and the purpose-built 30,000-capacity stadium, which boasts the same bouncy Mondo track that contributed to so many fast times in Tokyo. Still only 29, she is appearing in her sixth world championships seeking a third gold to add to two Olympic 1,500 metres titles. Norwegian duo Jakob Ingebrigtsen (1,500m) and Karsten Warholm (400m hurdles) are among the big names expected to triumph in the longer distances. With sprinters Marlies Goehr and Marita Koch - whose 1985 400m world record of 47.60 remains much quicker than any current athlete - leading the way, the original "state-sponsored" doping regime of East Germany topped the table with 10 golds.

Persons: Sha'Carri Richardson, Aleksandra Szmigiel, Sebastian Coe, Faith Kipyegon, Shelly, Ann Fraser, Pryce, Shericka Jackson, Dutchwoman Sifan Hassan, Lamont Marcell Jacobs, Briton Zharnel Hughes, Kenyan Ferdinand Omanyala, Fred Kerly, Jakob Ingebrigtsen, Karsten Warholm, Ryan Couser, Tobi Amusan, Coe, Marita Koch, Mitch Phillips, Ed Osmond Organizations: Diamond League, Doha, Paris Olympics, Athletics, WA, Kenyan, Eugene, Marathon, Marlies Goehr, Thomson Locations: Silesia, Silesian, Poland, Budapest, Eugene, United States, Hungary, Tokyo, Jamaica, U.S, Norwegian, East Germany

☆ TikTok influencers want to rent you a very cool home. Just don't call them landlords.
▼ + stars: | 2023-08-16 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

While live-in landlords are far from a novel concept, the pandemic-era fever around passive income and real-estate investing has sparked a rise in the popularity of house hacking. While Turner's initial strategy emphasized small multifamily buildings, some house hackers applied the concept to single-family homes. In 2019, he published a book called "The House Hacking Strategy: How to Use Your Home to Achieve Financial Freedom." And I think house hacking is one obvious way to eliminate, or at least drastically reduce, what likely is your largest expense." "Yeah, it's called 'house hacking," the owner and roommate, also played by Jarman, who has 4 million followers, replies.

Persons: Kelly Clark, Clark, scoffed, TikTok, Zers, Brandon Turner, Turner, Ryan Lehman, Lehman, Brandon, I'm, Craig Curelop, BiggerPockets who's, Curelop, influencer Addison Jarman, renter, it's, Jarman, Jay Parsons, John Liang, TikToker, Liang, —, It's, doesn't, Insider's Daniel Geiger, she'd, James Rodriguez Organizations: Federal Housing Administration, BiggerPockets, Census, YouTube, RealPage Locations: Spokane , Washington, Silicon, millennials, Seattle, Spokane

☆ Shoppers are spending big at T.J. Maxx, HomeGoods as Target sales slide
▼ + stars: | 2023-08-16 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Cash-strapped consumers may be pulling back on discretionary purchases at Target , but they're spending big on name brands and home goods at off-price TJX Cos. Shares of TJX Cos. reached a new 52-week high on Wednesday, spiking more than 4%. TJX Cos., which runs T.J. Maxx, Marshalls, HomeGoods, Sierra and Homesense in the U.S., raised its full-year outlook for comparable store sales, pretax profit margin and earnings per share following the strong quarter. It anticipates pretax profit margin in the range of 10.7% to 10.8%, and earnings per share between $3.66 and $3.72. Even so, TJX's HomeGoods posted a 4% comparable sales increase as consumers still sought out home decor, throw pillows and other furnishings.

Persons: Cash, Cos, Neil Saunders, TJX Cos, Ernie Herrman, TJX's HomeGoods Organizations: Target, Refinitiv Locations: Cos, Maxx, HomeGoods, Sierra, U.S

☆ Asia suffers China blues; dollar hits 2023 top on yen
▼ + stars: | 2023-08-14 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) eased another 1.1%, after shedding 2% last week. Japan's Nikkei (.N225) was off 0.5%, even as exporters drew support from the weak yen. The sour mood saw S&P 500 futures and Nasdaq futures shed early gains to each ease 0.1%. That rise juiced the dollar against the low-yielding yen, lifting it as far as 145.22 and a peak not seen since November last year. The rise in the dollar and yields was weighing on gold at $1,911 an ounce , having fallen for three weeks in a row.

Persons: Goldman Sachs, Brent, Wayne Cole, Shri Navaratnam, Sam Holmes Organizations: Nikkei, SYDNEY, Japan's Nikkei, Zhongrong International Trust Co, HK, Nasdaq, Amazon's, Federal, Goldman, Thomson Locations: China, Beijing, Russian, Black, Asia, Pacific, Japan

☆ Morning Bid: China property troubles plague Asia stocks
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Wayne Cole. Core inflation actually doubled to 0.8% y/y and the drop in consumer prices was largely driven by year-ago volatility in pork prices. That puts the focus on retail sales on Tuesday where a rise of 4.7% is forecast, though a wide range of estimates from +2.8% to +10.8% suggests a surprise is possible. The same goes for U.S. retail sales on Tuesday where the median is for a 0.4% increase, but BofA is tipping 0.7% based on credit and debit spending in the month. The dollar is also flying on the Aussie and kiwi and a range of emerging Asian currencies, which are being dumped as proxies for China risk.

Persons: Wayne Cole, It's, it's, Jacqueline Wong Organizations: Bank of Japan, Thomson Locations: Wayne, Asia, China, Beijing

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