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It's likely that the lower spot prices for iron ore in recent weeks are encouraging traders and steel mills to boost imports. The problems at Country Garden are stoking fears of contagion in China's property sector, which is facing a cash crunch. China iron ore imports vs priceLOANS TUMBLEAdding to the property woes was data released on Tuesday showing China's industrial output and retail sales slowed and undershot forecasts. Another potential factor supporting iron ore imports is the low state of port inventories, which last week dropped to the lowest in just over three years. They are also below the 138.6 million metric tons in the same week in 2022 and the 127.2 million in 2021.

Persons: Fortescue, David Gray, Refinitiv, It's, SteelHome, Robert Birsel Organizations: Port Hedland, REUTERS, HK, Reuters, Thomson Locations: Port, Pilbara, Western Australia, LAUNCESTON, Australia, China, Beijing, Singapore, China's

[1/2] Russia's Defence Minister Sergei Shoigu delivers a speech at XI Moscow conference on international security in the Moscow region, Russia, August 15, 2023. Ukraine and the West have accused Russia of war crimes and cast Moscow's invasion as an imperial-style land grab. "In the special military operation, the Russian army has debunked many myths about the superiority of Western military standards," Shoigu said in a rare public speech, according to a text supplied by his ministry. Shoigu said he would share details about the weaknesses of Western weapons and that none were invulnerable. In remarks aimed at China, Shoigu said the West was intentionally stoking the situation around Taiwan, comparing the situation to the Ukraine war.

Persons: Sergei Shoigu, Li Shangfu, Shoigu, Vladimir Putin's, Guy Faulconbridge, Conor Humphries Organizations: Russia's, XI Moscow, Russian Defence Ministry, REUTERS Acquire, Rights, Cuban Missile Crisis, Russia, Reuters, British, Thomson Locations: Moscow, Russia, Ukraine, Afghanistan, Ukrainian, Odesa, China, Taiwan

☆ The labor market will set inflation on a 'rollercoaster' that will weigh on stocks and the economy, BlackRock says
▼ + stars: | 2023-08-14 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The labor market is about to put inflation on a "rollercoaster," according to BlackRock strategists. "We believe this structural labor shock is poised to take over as the driver of inflation as the pandemic-driven spending mismatch unwinds." That raises the risk of a super-rare "full-employment recession," strategists said, a situation where economic activity winds down despite the labor market remaining strong. "We believe this structural labor shock is poised to take over as the driver of inflation as the pandemic-driven spending mismatch unwinds," BlackRock strategists said in a note on Monday. "We see inflation on a rollercoaster as the labor shock takes over from the spending mismatch.

Persons: That's Organizations: BlackRock, stoke, Service Locations: Wall, Silicon, BlackRock

☆ Dollar steady after CPI data bolsters Fed pause bets; yen nears 145
▼ + stars: | 2023-08-11 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. The Japanese yen eased 0.10% to 144.89 per dollar in early Asian hours, its lowest since June 30, when it also briefly breached 145 per dollar level, stoking investor fears of another round of interventions from the Japanese authorities. Japan intervened in September last year when the dollar rose past 145 yen, pushing the pair to around 140 yen as the Ministry of Finance bought the yen to weaken the dollar. "Market pricing currently favours a pause, but the market has underpriced the Fed’s actions before," Brandham cautioned. The Australian dollar rose 0.20% to $0.6534.

Persons: Florence Lo, Ryan Brandham, Brandham, Philip Lowe, Sterling, Ankur Banerjee, Shri Navaratnam Organizations: U.S, REUTERS, Federal, Ministry of Finance, Saxo Markets, Reuters, North America, Validus Risk, Reserve Bank of Australia, Thomson Locations: SINGAPORE, Japan, U.S, Singapore

☆ Domino effect: India rice export ban puts market on edge for copycat curbs
▼ + stars: | 2023-08-11 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +6 min

New Delhi had already restricted lower quality broken rice supplies in 2022. In 2008, rice prices reached a record high above $1,000 per ton after India, Vietnam, Bangladesh, Egypt, Brazil and other small producers restricted exports. CHAIN REACTIONGlobal prices have risen by around 20% since India's ban. This week, rice prices in Thailand and Vietnam soared to 15-year highs as buyers rushed to cover shipments to compensate for the decline in India's exports. Rao said only Indian supplies can restore equilibrium in the global rice market.

Persons: Nitin Gupta, Trade Nguyen Hong Dien, Rice, B.V, Krishna Rao, Rao, Peter Clubb, Rajendra Jadhav, Naveen Thukral, Khanh Vu, Panarat, Shri Navaratnam Organizations: REUTERS, Olam Agri, Reuters Graphics, Reuters, of Industry, Trade, Rice, Association of Pakistan, Association of India, International Grains Council, Thomson Locations: Kolkata, India, MUMBAI, New Delhi, Thailand, Vietnam, Delhi, Asia, Africa, Olam Agri India, Bangladesh, Egypt, Brazil, Pakistan, Philippines, China, Senegal, Nigeria, South Africa, Malaysia, Cote d'Ivoire, El, London, Singapore, Hanoi, Bangkok

☆ Dollar steady after CPI data bolsters Fed pause bets, yen nears 145
▼ + stars: | 2023-08-11 | by ( ) www.cnbc.com time to read: +3 min

Japanese 10,000 yen and U.S. 100 dollar banknotes are arranged for a photograph in Tokyo, Japan, on Sept. 7, 2017. The Japanese yen eased 0.10% to 144.89 per dollar in early Asian hours, its lowest since June 30, when it also briefly breached 145 per dollar level, stoking investor fears of another round of interventions from the Japanese authorities. Japan intervened in September last year when the dollar rose past 145 yen, pushing the pair to around 140 yen as the Ministry of Finance bought the yen to weaken the dollar. The Australian dollar rose 0.20% to $0.6534. Sterling was last at $1.2684, up 0.07% on the day, looking to snap its three-day losing streak ahead of GDP data.

Persons: Ryan Brandham, Brandham, Philip Lowe, Sterling Organizations: Federal, Ministry of Finance, Saxo Markets, Reuters, North America, Validus Risk, Reserve Bank of Australia Locations: Tokyo, Japan, U.S

☆ Israel’s Supreme Court Prepares to Rule on Its Own Fate
▼ + stars: | 2023-08-10 | by ( Isabel Kershner | More About Isabel Kershner | ) www.nytimes.com time to read: +1 min

For the first time in Israel’s history, all 15 of its Supreme Court justices will crowd onto the bench on Sept. 12 to hear a case together. The reason: This one is so momentous that it could not only decide the powers of the court itself but also kindle a constitutional crisis. The 15-member court — which meets in a graceful building of beige stone, straight lines and arches on a hill in Jerusalem alongside Parliament — includes secular liberals, religiously observant Jews and conservative residents of Jewish settlements in the occupied West Bank. One justice is an Arab Israeli; six are women, including the court’s president. Many Israelis fear that the overhaul will weaken the court as a check on the government, currently the most right-wing and religiously conservative in Israeli history; accelerate a rightward shift of the judiciary that started almost a decade ago; and make it more politicized and less independent.

Persons: — Organizations: West Bank Locations: Jerusalem, Arab

☆ Tesla's sales in China have tumbled and its slumping economy may not be to blame, Bank of America says
▼ + stars: | 2023-08-10 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Tesla sales in China have slumped – and it's faltering economy may not be the reason why, according to Bank of America. That's because demand for Tesla rival BYD rose 4%, while Tesla deliveries dropped 31% month-over-month in July. It suggests demand for Teslas in China is waning in the face of local competition. In a recent note, the bank highlighted Tesla Model 3 and Model Y deliveries in China dropped by 31% month-over-month in July, while its largest EV competitor in China, BYD Auto, grew 4% month-over-month. Tesla has repeatedly dropped prices of its vehicles over the past year, in a bid to undercut rivals and boost market share.

Persons: BYD, TSLA, John Murphy, Tesla, Murphy Organizations: Bank of America, Service, EV, BYD, Beijing Locations: China, Wall, Silicon, BYD

☆ Political violence in polarized U.S. at its worst since 1970s
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +26 min

Three academics who reviewed the cases say they add to growing evidence that America is grappling with the biggest and most sustained increase in political violence since the 1970s. Political violence surged for nearly a decade starting in the late-1960s – 1970 alone saw more than 450 cases, LaFree said. In contrast, much of today’s political violence is aimed at people – and most of the deadly outbursts tracked by Reuters have come from the right. “Political warfare”There’s no official tally of how many Americans die each year from political violence. Most of the fatal political violence identified by Reuters was carried out by people who embraced far-right views.

Persons: Kristen King’s, King, “, Austin Combs, ”, “ He’s, wailed, Anthony King, Donald Trump, Gary LaFree, LaFree, Rachel Kleinfeld, Carnegie’s Kleinfeld, Trump, Christopher Wray’s, Combs, Let’s, Joe Biden, Dave Spurrier, ” Combs, Wayne Staton, gaunt, Bri Smith, “ honk, Bubba, Ross, Cody Lee Harbaum, ” Harbaum, Edgar, Floyd Rockwell, Terry B’s, “ Hillary, Kim Jenkins, Patti Betz, “ Austin, Betz, Miss Patti, ‘, ” Betz, Paul Pelosi, Nancy Pelosi, Paul, Nancy Pelosi’s, Katie Pridemore, Shawn Popp, Popp, Donald Henry, Henry, ’, Craig Greenberg, Quintez Brown, Greenberg, Brown, ” Brown, Robert Telles, Telles, Benjamin Smith, Dajah Beck, Beck, Smith, Allie Bradley, “ You’re, Bradley, Kristine Christenson, Ben Smiths, rightwing hecklers, ” Bradley, Knightly’s, Katherine Knapp, King’s, Kristen, Pridemore Organizations: Democrat, Reuters, U.S . Capitol, University of Maryland criminologist, Oklahoma, Federal Bureau of, Carnegie Endowment, International, Democratic, Trump, U.S . Department of Homeland Security, Republican, Democratic Party, Republican Party, Miss, . House, San, U.S, Capitol, Media, Attorney’s Office, Judicial, Las, Veterans, Pridemore Locations: OKEANA, Ohio, Okeana, America, Florida, Portland, Buffalo, Washington, Butler County, Brandon, Butler, Hamilton, San Francisco, Wisconsin, New Mexico, U.S, Louisville , Kentucky, China, Taiwan, California, Clark County , Nevada, Las Vegas, Normandale, Portland , Oregon, ”

☆ US gas prices are surging to their highest level since October 2022 – and economists are warning of an inflation 'smile'
▼ + stars: | 2023-08-07 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

US gas prices are on the rise again, stoking concerns that it could fuel inflation. The average gallon of gas traded at $3.89, its highest level since October 2022. The average gallon of gas traded at $3.89, its highest level since October 2022, per AAA. The surge in gas prices comes amid rising oil prices, largely spurred by supply cuts by key producers including Saudi Arabia and Russia. Mark Zandi, chief economist of Moody's Analytics, said the spike in oil prices were a threat to his optimism about US inflation.

Persons: Mohamed El, Erian, Mark Zandi Organizations: Federal Reserve, AAA, Brent, West Texas Intermediate, Allianz Locations: Saudi Arabia, Russia

☆ Niger's ousted prime minister hopes talks can end military coup
▼ + stars: | 2023-08-05 | by ( ) www.reuters.com time to read: +4 min

[1/5] Niger's Prime Minister Ouhoumoudou Mahamadou speaks about the situation in Niger during an exclusive interview with Reuters, in Paris, France, August 5, 2023. Niger's military takeover, the seventh in West and Central Africa in three years, has rocked the western Sahel region, one of the poorest in the world, which has strategic significance to global powers. Still, as the deadline loomed, Bazoum's Prime Minister Ouhoumoudou Mahamadou believed a last-minute intervention was possible, he said in an interview in Paris. France said on Saturday it will support efforts to overturn the coup, without specifying whether its backing would entail military assistance for an ECOWAS intervention. Niger's neighbours Mali and Burkina Faso, where military juntas have also seized power in recent years, said they would support Niger in the event of military intervention.

Persons: Ouhoumoudou Mahamadou, Stephanie Lecocq, Niger's, Mohamed Bazoum, Mahamadou, Bazoum, General Abdourahamane Tiani, Abdel, Fatau Musah, Mahamadou shrugged, Julitte Jabkhiro, Michel Rose, Clotaire Achi, Louise Dalmasso, Edward McAllister, Jan Harvey Organizations: Niger's, Reuters, REUTERS, Economic, West African States, ECOWAS, Sunday, Bazoum's, Thomson Locations: Niger, Paris, France, Stephanie Lecocq NIAMEY, West, Central Africa, Niamey, Rome, China, Europe, Russia, Nigeria's, Abuja, Mali, Burkina Faso

☆ Morning Bid: Next up, payrolls
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +3 min

U.S. markets are reeling this week from surging funding needs, the loss of the government's prized triple-A credit rating and a still-hot labour market. Longer-dated U.S. Treasuries have taken a beating this week, with 10-year and 30-year yields surging over 20 basis points, heading for their biggest weekly jump since late December. On Friday, if economists polled by Reuters are right, non-farm payrolls will have risen by 200,000 in July -- pretty much unchanged from June. Just last month, another stronger-than-expected ADP report sent yields surging, only to be followed by a weaker-than-expected nonfarm payrolls report, stoking yield swings. Key developments that should provide more direction to U.S. markets later on Friday:* U.S. July non-farm payrolls* Canada July employment data* Goodyear Tire earningsReporting by Yoruk Bahceli; Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Elizabeth Frantz, Yoruk Bahceli, Fitch, Jerome Powell, nonfarm, Christina Fincher Organizations: REUTERS, Yoruk, Markets, Treasury, Reuters, Citi, Traders, Goodyear, Thomson Locations: Arlington , Virginia, U.S, Yoruk Bahceli . U.S, United States, Canada

☆ A Florida teachers' union says DeSantis is using an 'extremist agenda' to 'censor' AP Psychology after the College Board said the course was 'effectively banned' through the state's 'Don't Say Gay' la
▼ + stars: | 2023-08-04 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +4 min

The College Board said that its AP Psych course is "effectively banned" under Florida state law. A Florida law bans talk of sexuality and gender in school — key topics in AP Psych. Ron DeSantis' administration is using an "extremist agenda" to "censor" AP Psychology after the College Board said the course was "effectively banned" through the state's parental rights law critics have called "Don't Say Gay." But, under DeSantis' law, teachers are prohibited from discussing gender identity and sexual orientation in school. "This attempt to censor the AP Psychology course is just one more example of the governor's extremist agenda," Spar said.

Persons: DeSantis, Ron DeSantis, Andrew Spar, —, Spar, Colin Sharkey Organizations: Board, Psych, Service, College Board, Florida Education Association —, The College Board, Florida Department of Education, The, Florida, College, International Baccalaureate, Association of American Educators Locations: Florida, Wall, Silicon

☆ Insight: BOJ makes bold shift as yen risks grow too big to ignore
▼ + stars: | 2023-08-03 | by ( Leika Kihara | ) www.reuters.com time to read: +9 min

The BOJ's decision shook markets on Friday and contrasted sharply with Ueda's more cautious comments in recent months about the dangers of retreating too quickly from accommodative Kuroda-era policies. "There's also a small but probable risk of inflation overshooting in Japan, which gave the BOJ reason to act." NEW PRIORITIESThe BOJ's policy decision last week signalled to investors that it would now allow the 10-year government bond yield to move closer to 1% before it intervenes. 'BIT BY BIT'The shift in thinking gained momentum at the BOJ's June policy meeting, but not enough to turn the tide. It was a test case, or a preliminary exercise, toward future policy normalisation," said former BOJ board member Takahide Kiuchi.

Persons: Issei Kato, Kazuo Ueda, Haruhiko Kuroda, Fumio, accommodative Kuroda, Ueda, YCC, There's, Hirokazu Matsuno, Seiji Adachi, Asahi Noguchi, Ryozo Himino, Shinichi Uchida, Uchida, Masato Kanda, Kanda, Takahide, Leika Kihara, Takaya Yamaguchi, Takahiko Wada, Kentaro Sugiyama, Yoshifumi, Sam Holmes Organizations: Bank of Japan, REUTERS, TOKYO, Bank, Ueda, Reuters, BIT, Asahi, Nikkei, Thomson Locations: Tokyo, Japan

☆ Caterpillar warns of lower sales, margins in third quarter
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

Aug 1 (Reuters) - Caterpillar Inc (CAT.N) warned of a fall in third-quarter sales and margins on Tuesday as dealer inventories rose again, stoking worries that demand for its heavy machinery used in everything from construction to mining may have peaked. Caterpillar, seen as a proxy for global economic activity, said on Tuesday it was expecting third-quarter sales and operating profit margin to be higher than in the previous year, but lower compared to the second quarter. The manufacturer reported a $600 million increase in dealer inventory in the second quarter from a year earlier, primarily in its energy and transportation business, as drilling at North American rigs shows signs of weakening. Meanwhile, Caterpillar reported an adjusted profit of $5.55 per share in the second quarter, beating analysts' expectations of $4.58 per share. Sales rose 21.6% to $17.32 billion, above Wall Street estimates of $16.49 billion.

Persons: stoking, Ryan Keeney, Bianca Flowers, Shivansh, Anil D'Silva Organizations: Caterpillar Inc, Caterpillar, Thomson

☆ The UK once vowed to be a global climate leader. Now Rishi Sunak is stoking a culture war on green policies
▼ + stars: | 2023-08-01 | by ( Rob Picheta | ) edition.cnn.com time to read: +8 min

Since becoming prime minister, critics say he has diminished the UK's standing as a leader on the climate. A Just Stop Oil protester disrupts a match at July's Wimbledon Championships. Foreign Office minister Zac Goldsmith resigned in June, lambasting Sunak’s climate policies. A North Sea oil rig off the coast of Scotland. Sunak's decision to expand drilling in the North Sea was criticized by climate experts.

Persons: Boris Johnson, Queen Elizabeth II, Rishi Sunak’s, Sunak, DANIEL LEAL, ” Luke Murphy, they’ve, Murphy, ”, “, We’ve, ” Murphy, Steve Tuckwell, Tuckwell, Hannah Mckay, Grant Shapps, Keir Starmer, ” Tim Bale, “ Uxbridge, ” Bale, Sadiq Khan, Khan nodded, Rishi Sunak, Zac Goldsmith, Chris Skidmore, ” Skidmore, – Organizations: London CNN, Telegraph, Getty, CNN, Conservative Party, Conservatives, Labour Party, July's Wimbledon, Reuters, Energy, Queen Mary University in, “, Office, National Statistics, London’s, Foreign, Conservative, Uxbridge Locations: Britain, Glasgow, North, Sunak, Uxbridge, London, Queen Mary University in London, Europe, lambasting, Scotland

☆ India's accelerating growth can fill the global commodity demand gap left by a slowing China
▼ + stars: | 2023-07-31 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Rashtrapati Bhavan, the official residence of the President of India, in New Delhi. China's growth slowdown is set to hurt global commodity demand, but India could make up for some of that shortfall, according to ANZ. India's economic growth is likely to outpace China's, with the South Asian nation set to become the third-largest economy by the end of this decade, the bank predicted. That means India's demand for commodities will likely surge, and it could cover more than half of China's demand shortfall especially in the energy sector, the bank said in a recent report. "India's demand for commodities is slated to grow rapidly, supported by favorable demographics, urbanization, the expansion of manufacturing and exports and the build-up of infrastructure," ANZ analysts wrote.

Persons: Rashtrapati Organizations: Rashtrapati Bhavan, ANZ, South Locations: India, New Delhi, China

☆ England handed injury reprieve as Walsh's World Cup campaign continues
▼ + stars: | 2023-07-29 | by ( ) www.reuters.com time to read: +1 min

Walsh, who was an integral part of the England team that won the Euros last year, crumpled to the turf at Sydney Football Stadium without contact in the 38th minute and immediately called for medical assistance. "Following a scan late on Saturday afternoon, we can confirm Keira Walsh has not suffered an ACL injury," England said in a statement on Saturday. "Walsh has been ruled out of Tuesday's final Group D match against China in Adelaide and will remain at England's Terrigal base to continue her recovery. "Her knee injury will continue to be assessed by England medical staff and no further update will be provided at this stage." Reporting by Lori Ewing, writing by Aadi Nair Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

Persons: Keira Walsh, Carl Recine SYDNEY, Walsh, Lionesses, Lori Ewing, Aadi Nair, Christian Radnedge Organizations: Soccer Football, FIFA, Sydney Football Stadium, Denmark, England, Sydney Football, China, Haiti, Thomson Locations: New Zealand, England, Denmark, Sydney, Australia, Adelaide, China

☆ Southwest Airlines warns of higher full-year costs as quarterly profit falls
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

July 27 (Reuters) - Southwest Airlines (LUV.N) on Thursday warned of higher labor costs for the year and signaled softer pricing for the current quarter, stoking worries that rising operational expenses could add to a potential hit to travel demand from strained household budgets. American Airlines (AAL.O), United Airlines (UAL.O) and Delta Air (DAL.N) also fell between 1.0% and 1.5% premarket after Southwest's results. The airline attributed the fall in RASM, a proxy for pricing power, to tough comparisons from a boom in travel demand last year. U.S. airlines have reiterated resilience in travel demand, in part due to limited capacity, though concerns remain over the impact of rising interest rates on consumers' disposable income. Surging international travel demand has also grabbed a share from domestic travel, Alaska Air Group (ALK.N) said earlier this week.

Persons: stoking, Shivansh, Anil D'Silva, Shounak Organizations: Southwest Airlines, American Airlines, United Airlines, Delta Air, U.S, Alaska Air Group, Thomson Locations: RASM, Bengaluru

The biggest contribution to the sharp rise in the 2023 forecast came from forecasts deviations and a change in forecasting approach. "The central bank did not only provide an inflation forecast that is in line with economists predictions but... the emphasis in the report very much matched those of the market. We had not seen this from the central bank in many years. CENTRAL BANK INDEPENDENCEEconomists expect the policy rate to rise further to 25% by year-end, still leaving real rates negative. "Defining interest rate hikes as sufficient or insufficient can only be done after inspecting the intricacies of this holistic approach," she said.

Persons: Hafize Gaye Erkan, Erkan, Nilufer Sezgin, Sahap Kavcioglu, Erdogan, Ali Kucukgocmen, Daren Butler, Andrew Heavens, Bernadette Baum Organizations: Wall Street, CENTRAL, Ece Toksabay, Thomson Locations: ANKARA, Ankara

Soldiers from the presidential guard in the West African nation of Niger barricaded the president in his palace in an apparent mutiny on Wednesday, according to the president’s office and the regional bloc of neighboring states. The standoff raised fears of a coup in a region that has lately been jolted by many. Militant groups linked to both Al Qaeda and Islamic State operate there. Mr. Bazoum was elected in 2021 in Niger’s first peaceful, democratic transfer of power. He has been one of the West’s most reliable partners in a volatile region filled with aging presidents clinging to power and young military officers who have seized control by force.

Persons: Mohamed Bazoum, Al, Bazoum Organizations: Militant, Islamic Locations: West African, Niger, Niamey, Africa, France, Al Qaeda, Islamic State, Niger’s

☆ No, AI isn't likely to destroy white-collar jobs — and it could actually enhance them over time, analysis finds
▼ + stars: | 2023-07-26 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Some white-collar roles were predicted to be some of the first on the chopping block. However, according to a McKinsey study, AI could enhance these jobs rather than eliminate them. Some CEOs have already been taking steps to incorporate AI-powered programs into daily workflows while others have been open about their plans to scale back hiring in favor of generative AI. White-collar roles, specifically those in the legal and finance sectors, were predicted to be some of the first on the chopping block in early studies. While the analysis predicted generative AI could significantly shake up the labor market, its impact on white-collar roles may be beneficial over the long term.

Organizations: McKinsey, Morning

☆ Israel judicial overhaul: protests mount against Benjamin Netanyahu after bill passed
▼ + stars: | 2023-07-25 | by ( Dan Williams | ) www.reuters.com time to read: +6 min

The bill curbing Supreme Court review of some government decisions passed in a stormy Knesset parliament on Monday after a walkout by lawmakers. Protest leaders said growing numbers of military reservists would no longer report for duty if the government continued with its plans. First elected to top office in 1996 and now in his sixth term, Netanyahu, 73, is facing his biggest domestic crisis. A Lebanese source familiar with the development said the men were members of a Hezbollah elite unit on a patrol that had nothing to do with Israel's domestic crisis. Hezbollah leader Hassan Nasrallah on Monday said Israel's domestic crisis showed it was on a "path of collapse and fragmentation".

Persons: Netanyahu, Benjamin Netanyahu, Yair Lapid, Zion Hagay, Kan, Corinna Kern, striding, Hassan Nasrallah, Bezalel Smotrich, Dan Williams, Ari Rabinovitch, Henriette Chacar, Andrew MacAskill, Laila Bassam, Tom Perry, Andrew Cawthorne, Nick Macfie Organizations: Israeli Democracy, Israel Bar Association, Israel Medical Association, Health Ministry, REUTERS, BANK, Orthodox Jewish, West Bank, Hamas, Hezbollah, Finance, Army Radio, Thomson Locations: JERUSALEM, Israel, Histadrut, United States, Britain, Jerusalem, Tel Aviv, Washington, Nablus, Palestinian, Lebanese, Iran, London, Beirut

☆ Focus: Shifting trends in travel demand bedevil US airlines
▼ + stars: | 2023-07-21 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +4 min

But travel patterns are shifting so often, partly due to work-life changes wrought by the pandemic, that airlines must constantly adapt on booking plane seats and remain cautious in forecasting demand and revenue. American Airlines (AAL.O) Chief Financial Officer Devon May attributed the challenge to the difficulty in forecasting demand. Worries about future demand were a reason American Airlines' stock fell 6% on Thursday even after it raised its full-year earnings forecast. It was a risky bet as booking data from the previous quarter had shown customers were booking trips well in advance. Delta said Southern Europe's summer travel season is now longer than it used to be, prompting the airline to adjust its network.

Persons: Devon, We're, United, United's, Andrew Nocella, Henry Harteveldt, Harteveldt, Rahul Sen Sharma, Sharma, Ed Bastian, Delta, Glen Hauenstein, Rajesh Kumar Singh, Ben Klayman, Matthew Lewis Organizations: Consumers, American Airlines, Reuters, United Airlines, Atmosphere Research, Airlines, Air Lines, Thomson Locations: Southern, Chicago

☆ Philippines closely monitors threat of invasion of Taiwan - defence chief
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

"Nonetheless, we continue to plan on all contingencies not merely any flashpoint between China and Taiwan, but any contingency within the theatre," he added. A priority for the Philippines is the safety of the more than 100,000 of its nationals living and working in Taiwan. Without providing specifics, Teodoro, said the contingency measures being discussed were "a multi-agency effort and not only a defence effort". The Philippines has granted access to four additional bases this year, some facing north towards Taiwan. "Hopefully, the engagements bilaterally between the United States and China leads to the diffusion of tensions in that theatre," said Teodoro.

Persons: Gilbert Teodoro, Teodoro, Ferdinand Marcos Jr, Karen Lema, Martin Petty Organizations: U.S ., Philippine, Washington, Thomson Locations: MANILA, China, Taiwan, U.S, Philippines, Pacific, Australia, South Korea, Japan, Thailand, United States, Washington, Beijing

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