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☆ Trump charges follow criticism of Manhattan prosecutor for not acting sooner
▼ + stars: | 2023-03-31 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +5 min

Trump's former lawyer Michael Cohen has said he made the payment to silence Daniels about an affair she says she had with Trump in 2006. Bragg's charges come at a critical time, as Trump is running for the Republican presidential nomination in 2024. A prosecutor leading that probe, Mark Pomerantz, resigned in February 2022 after Bragg declined to charge Trump himself with financial crimes. Pomerantz has publicly criticized Bragg's decision not to bring charges and published a book about the investigation. In the biggest trial victory so far in his tenure, his office last December won the conviction of the Trump Organization on tax fraud charges.

☆ It's really hard for foreign companies to break up with Russia — and there are 3 main reasons why
▼ + stars: | 2023-03-30 | by ( ) www.businessinsider.com time to read: +7 min

One year after Russia invaded Ukraine, just 520 firms have fully exited Russia, per a Yale study. Quite simply, it's just not that straightforward for a company to get out of Russia right now — and there are three main reasons why. Companies have been trying to exit Russia in an orderly fashionMany companies were quick to announce their intent to leave the Russian market after it invaded Ukraine. Thus, companies that want to exit Russia are pressed to find buyers for their Russian operations who would continue running the business under a different brand. Multinational companies face operation challenges in their exitsBecause many foreign companies operating in Russia are multinationals, shutting operations in the country can have a domino effect on their businesses elsewhere.

☆ Russia is forcing Western companies exiting its market to make a donation to the country — and it's making it harder for them to leave
▼ + stars: | 2023-03-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Foreign investors exiting Russia must donate at least 10% of the sale proceeds of their assets to the state. Russia witnessed an exodus of companies it invaded Ukraine, but some have remained — either voluntarily or due to challenges in leaving the Russian market. About 550 foreign companies are still actively operating in the country, according to Yale's list. These options are not available to every company — especially since there would be fewer potential buyers in the first place due to sweeping sanctions against Russia, according to Estrin and Meyer. Over 2,000 companies are seeking approval to exit the Russian market, the Financial Times reported on Tuesday, citing a person involved in an exit negotiation.

☆ U.S.-China relations are going downhill with ‘no trust’ on either side, Stephen Roach says
▼ + stars: | 2023-03-28 | by ( Sumathi Bala | ) www.cnbc.com time to read: +5 min

US President Joe Biden and China's President Xi Jinping (L) shake hands as they meet on the sidelines of the G20 Summit in Nusa Dua on the Indonesian resort island of Bali on November 14, 2022. "Right now, there is no trust," he told "Squawk Box Asia" on Tuesday, who is currently attending the China Development Forum in Beijing. watch now"The balloon was a spark that really put us on a swift downhill descent," Roach added. The office did not provide details of her itinerary while in the U.S. On Taiwan, China has repeatedly said the issue is an internal affair. Every single Taiwan president in recent memory has done this," White House National Security Council spokesman John Kirby, said at a press briefing last week.

☆ Oil spills and near misses: more ghost tankers ship sanctioned fuel
▼ + stars: | 2023-03-23 | by ( Jonathan Saul | ) www.reuters.com time to read: +9 min

REUTERS/Ronen ZvulunSummary Risk of accidents in focus as 'shadow' fleet growsStirs fears of oil spills, decades after Exxon ValdezHundreds of ships carry oil from sanctioned nationsMany ship certifiers and insurers have pulled servicesLONDON, March 23 (Reuters) - An oil tanker runs aground off eastern China, leaking fuel into the water. Many leading certification providers and engine makers that approve seaworthiness and safety have withdrawn their services from ships carrying oil from sanctioned Iran, Russia and Venezuela, as have a host of insurers, meaning there's less oversight of vessels carrying the flammable cargoes. Reuters was unable to independently verify the numbers regarding the size and growth of the shadow fleet. The U.S. Treasury didn't immediately respond to a request for comment on ships carrying sanctioned oil. SHIP-TO-SHIP TRANSFERSAround 774 tankers out of 2,296 in the overall global crude oil fleet are 15 years old or more, according to data provider VesselsValue.

☆ Trump's looming indictment causes his feud with DeSantis to boil over into insults and insinuations about a 'porn star' and 'underage' classmates
▼ + stars: | 2023-03-21 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +9 min

The Trump indictment news put DeSantis on the spot, given he's expected to run for president. "I don't know what goes into paying hush money to a porn star to secure silence over some type of alleged affair," DeSantis said. "But when he can actually make a positive difference — whether that's the Silicon Valley bailout or the Trump indictment — he shuts up for political convenience. Asked about the battle, DeSantis' political team pointed to the governor's comments Monday saying that he would not participate in helping Bragg with an extradition. Ron DeSantis' interview with the New York Post.

[1/2] Workers remove scaffolding at the New York Courthouse at 80 Centre Street where Manhattan District Attorney Alvin Bragg continues his investigation into former U.S. President Donald Trump, in Manhattan, New York City, U.S., March 18, 2023. Trump said on his Truth Social platform that he expected to be arrested on Tuesday and called on his supporters to protest. A prosecutor leading that probe, Mark Pomerantz, resigned in February 2022 after Bragg declined to charge Trump himself for financial crimes. Cohen previously testified that Trump directed him to arrange the payment, and Cohen pleaded guilty in December 2018 to campaign finance violations and other charges. In the biggest trial victory so far in his tenure, his office last December won the conviction of the Trump Organization on tax fraud charges.

The sale means UK startups and investors will be able to access their money. Like its US parent, SVB UK mostly served tech startups and their investors. Insider understands from a person close to SVB UK that there is some internal frustration at the bank run. The feeling is that SVB UK was sold off simply because of groupthink. That evening, it looked feasible that the government would allow SVB UK to collapse.

☆ Vintage Red-Carpet Looks Are Having a Moment
▼ + stars: | 2023-03-11 | by ( Fiorella Valdesolo | ) www.wsj.com time to read: +1 min

With awards season in full swing comes the red-carpet photo dump of picture-perfect celebrities: Hours have been spent on hair and makeup; limbs are dripping in six-figure jewels; and couture finery abounds. But on Instagram, a different, less fussy era of red-carpet dressing has begun to hold sway via accounts that serve as scrapbooks of what celebrities once wore. The 2002 MTV Video Music Awards as a new fashion touchstone, for example? A post last year on New York stylist and vintage fashion archivist Gabriel Held’s Instagram feed suggested as much, with a carousel of images featuring the likes of Molly Sims and Ashanti in various hip bone–baring, low-slung styles emblematic of the early aughts. “I feel like the Gen Z kids are at a point now where they’re kind of referencing the era that they were born in,” says Held.

☆ Trump probe follows criticism of Manhattan prosecutor for not acting sooner
▼ + stars: | 2023-03-10 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +4 min

Manhattan District Attorney Alvin Bragg has come under political pressure for not bringing charges against Trump earlier, but has now invited Trump to testify before a grand jury, according to Susan Necheles, a lawyer for Trump. The probe comes at a critical time, as Trump is running for the Republican presidential nomination in 2024. A prosecutor leading that probe, Mark Pomerantz, resigned in February 2022 after Bragg declined to charge Trump himself for financial crimes. A spokeswoman for Bragg, who could still decline to charge Trump, referred to Bragg's earlier statement. In the biggest trial victory so far in his tenure, his office last December won the conviction of the Trump Organization on tax fraud charges.

[1/5] The destroyed Habib-i Najjar Mosque is pictured in the aftermath of a deadly earthquake in Antakya, Turkey February 16, 2023. "What we learn from our elders is that Hatay witnessed seven earthquakes in its history but it was reborn from its ashes. PAINTINGS OF THE SAINTSThe bell tower lies on its side, with clothes placed on top for earthquake victims to take. Among the victims of the Feb. 6 earthquake were Saul Cenudioglu, leader of the Jewish community in Antakya, and his wife, Tuna Cenudioglu. The rabbi said he came to Antakya after the earthquakes to check on the Jewish community and take them to Istanbul.

☆ Stocks Fall After Powell Comments, Latest Fed Rate Hike
▼ + stars: | 2023-03-05 | by ( Akane Otani | ) www.wsj.com time to read: 1 min

Photo: Saul Loeb/AFP via Getty ImagesU.S. stocks dropped Wednesday, giving up their initial gains, after the Federal Reserve approved raising interest rates to their highest level in 16 years. The S&P 500 slipped 0.7%, while the Dow Jones Industrial Average declined 0.8%, or 270 points, and the Nasdaq Composite lost 0.5%.

☆ 'Everything Everywhere' vies for Hollywood's SAG awards on road to Oscars
▼ + stars: | 2023-02-26 | by ( Lisa Richwine | ) www.reuters.com time to read: +2 min

The movie starring Michelle Yeoh as an exasperated laundry owner trying to finish her taxes is the favorite to take best film ensemble at the SAG awards, according to experts polled by the Gold Derby website. If the movie wins big, that would give it a boost on the way to the Academy Awards on March 12. SAG winners are chosen by members of the SAG-AFTRA acting union, and actors make up the largest group of voters for the Oscars. In television categories, "Better Call Saul," "The Crown," "Ozark," "Severance" and "The White Lotus" will compete for best drama cast. TV comedy nominees for best cast are "Abbott Elementary," "Barry," "The Bear," "Hacks" and "Only Murders in the Building."

☆ How representation of Black artists in galleries, museums is changing
▼ + stars: | 2023-02-25 | by ( Lorie Konish | ) www.cnbc.com time to read: +6 min

"There's a lot more support for Black artists that kind of came out of George Floyd's murder and institutions realizing that they need to do more," Peterson said. Saul Loeb | Afp | Getty ImagesThe market for work by Black American artists grew by nearly 400% between 2008 and 2021, according to a recent report from art market website ArtNet. Acquisitions of work by Black American artists peaked in 2015, two years after the start of the Black Lives Matter movement. "My impression is there are vastly increased number of solo shows and group shows dedicated to Black artists in London, in Paris, in New York, across the United States," Elliott said. Works from established artists like Kerry James Marshall that depict Black figures are influencing the work of new artists and creating a lineage, Elliott noted.

☆ Insurers count the cost of ships snagged in Ukraine crisis
▼ + stars: | 2023-02-24 | by ( Jonathan Saul | ) www.reuters.com time to read: +4 min

Curtailed shipments from major grain exporter Ukraine played a role in the resulting global food crisis. According to shipping and insurance industry assessments, there are still between 40 and 60 ships stranded, and ship owners can claim a total loss for vessels stuck for a year from their insurers. A senior industry source said exposure for the ships currently stuck was estimated at $500 million. "The liabilities for those people who have ships stuck there, to get those ships out - it’s a real headache." "There is going to be some form of constructive agreement I suspect, but then that owner will have to buy war risk insurance all over again."

☆ Shipping industry grapples with ways to cut cargo fires at sea
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 22 (Reuters) - Global shipping companies are exploring ways to boost safety in transporting cargoes as risks grow from fires erupting inside containers or in cars at sea, officials said on Wednesday. Shipping transports around 90% of world trade onboard different vessels including container and Ro-Ro ships with trade routes getting busier. "The main root cause for cargo fires on container ships is the integrity of dangerous goods throughout the supply chain. Therefore it is a problem that can only be improved through industry wide solutions," Maersk's Aslak Ross said separately in a statement. Reporting by Jonathan Saul Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Israeli-linked ship attacked last week in Arabian Sea, manager says
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: +1 min

JERUSALEM, Feb 18 (Reuters) - An Israeli-linked tanker was lightly damaged in an attack last week by an airborne object while sailing through the Arabian Sea, the ship's manager confirmed on Saturday. Regional defence and security sources suspect the assault was carried out by Iran, which did not comment on the incident. Shipping databases linked the tanker to Zodiac Maritime, which is controlled by Israeli shipping magnate Eyal Ofer. We have made the necessary notifications to the relevant authorities," the manager said. British maritime security company Ambrey Intelligence said unmanned aerial systems had attacked two tankers and one bulk carrier in the Arabian Sea and assessed that Tehran had mounted the attack.

☆ AMC Networks Earnings Top Views as Company Slashes Costs
▼ + stars: | 2023-02-17 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

AMC, which streams ‘Better Call Saul’ on its service, helped usher in the era of prestige TV. AMC Networks Inc.’s adjusted profit jumped in the recent quarter after the company set out on a cost-cutting mission and as Kristin Dolan prepares to take the reins as chief executive later this month. Including a more-than-$400 million charge tied to a broad restructuring plan that includes layoffs and a decision to remove some legacy shows and films from rotation, the cable-TV company swung to a loss. In November, AMC Networks laid off about 20% of its U.S. employees, and said then-CEO Christina Spade had stepped down.

☆ Premarket stocks: SpinCos are the new SPACs
▼ + stars: | 2023-02-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

The parent company may distribute the new company’s stock to its shareholders, allowing them to own shares in both. These smaller, newly formed companies are still in the process of establishing themselves in the market and often have lower profit margins than their parent company. It costs a lot to borrow these days and investors are looking for high profits and value stocks, writes Goldman. The Federal Reserve’s interest rate hikes have added significantly to the cost of government debt. “As we add trillion after trillion to our debt, the problem only gets worse and compounds.

Biden's private lawyer disclosed on Saturday that DOJ officials turned up classified documents related both to Biden's vice presidency and even his time in the US Senate. Garland's swift announcement came after earlier news that a second batch of classified documents was found on Biden's property. Here, a timeline lays out Biden's involvement with the classified documents — and how it sometimes overlapped with the turmoil around Trump's classified documents probe. January 14: White House says more classified documents were found in Biden's homeAdditional pages of classified documents were found in Biden's Wilmington home in a storage room next to the garage, The New York Times reported. January 21: DOJ finds 6 more pages of classified documents in Biden's homeFederal investigators searched Biden's Wilmington home on Friday and found half a dozen classified documents, according to Biden's personal attorney, Bob Bauer.

☆ The Koch Network Dumps Trump
▼ + stars: | 2023-02-09 | by ( William A. Galston | ) www.wsj.com time to read: +1 min

William A. Galston writes the weekly Politics & Ideas column in the Wall Street Journal. He holds the Ezra K. Zilkha Chair in the Brookings Institution’s Governance Studies Program, where he serves as a senior fellow. A participant in six presidential campaigns, he served from 1993 to 1995 as Deputy Assistant to President Clinton for Domestic Policy. Mr. Galston is the author of 10 books and more than 100 articles in the fields of political theory, public policy, and American politics. A winner of the American Political Science Association’s Hubert H. Humphrey Award, he was elected a Fellow of the American Academy of Arts and Sciences in 2004.

☆ 1870 pin meaning: What the buttons and crayon lapel pins Congress wore to the State of the Union stand for
▼ + stars: | 2023-02-08 | by ( Taiyler Simone Mitchell | ) www.businessinsider.com time to read: +3 min

President Joe Biden gave his second State of the Union address on Tuesday. Two pins — one that reads '1870' in white text atop a round black pin and various colored crayon-shaped pins with the Crayola logo — have garnered attention. 1870 PinRep. Ilhan Omar, D-Minn., conducts a television interview before President Joe Biden's State of the Union address in the U.S. Capitol on Tuesday, February 7, 2023. "153 years after the murder of Henry Truman, the Black community is still waiting for justice," Rep. Watson Coleman said. Crayola Crayon PinA lawmaker wears a pin of a white Crayola crayon during the State of the Union address in the House Chamber of the US Capitol in Washington, DC, on February 7, 2023.

☆ State of the portfolio: What Biden's address means for 10 Club stocks from Caterpillar to Ford
▼ + stars: | 2023-02-08 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

President Joe Biden 's State of the Union address put the spotlight on multiple tailwinds that will benefit 10 Club holdings including Caterpillar (CAT) and Ford (F). Linde Linde, a longtime Club holding, supplies industrial gases needed at semiconductor manufacturing facilities, known as fabrication plants. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Shipping containers ablaze at Turkey's Iskenderun Port, operations halted
▼ + stars: | 2023-02-07 | by ( Antony Paone | ) www.reuters.com time to read: +3 min

ISKENDERUN, Turkey, Feb 7 (Reuters) - Hundreds of shipping containers were ablaze at Turkey's Iskenderun Port on Tuesday, shutting down operations and forcing freight liners to divert vessels to other ports. Leading global container shipping group AP Moller Maersk said there had been significant damage to logistics and transport infrastructure around the earthquake epicentre, including at the Port of Iskenderun. We are currently planning to divert containers to nearby hubs within operational feasibility or hold at transhipment ports - including Port of Mersin (in Turkey) and Port Said (in Egypt)," it said. [1/3] Smoke rises from burning containers at the port in the earthquake-stricken town of Iskenderun, Turkey, February 7, 2023. German container shipping line Hapag Lloyd said it was taking shipments from Mersin given the closure of Iskenderun.

☆ Walter Mosley Thinks America Is Getting Dumber
▼ + stars: | 2023-02-06 | by ( David Marchese | ) www.nytimes.com time to read: +17 min

Mamadi Doumbouya for The New York Times Talk Walter Mosley Thinks America Is Getting DumberWalter Mosley is best known as one of contemporary literature’s pre-eminent crime novelists, but he’s actually four or five different writers rolled into one. You have to tell stories about real people experiencing it and not real people with a Ph.D. People who are not stupid but ignorant, who don’t know things about the world. There are people who don’t know how to spell, they don’t know how to think. You have these people coming out into the world, and they don’t know what to do. That’s going to happen.

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