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☆ It was a big week for interest rates. Here’s what you need to know
▼ + stars: | 2023-09-22 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —Central bank officials around the world relayed a somewhat unified message this week to the global economy: Inflation is coming down, but the battle is far from won. Most held rates steady, taking a breather from a historic pace of interest rate hikes to stabilize skyrocketing prices. United States: The Federal Reserve in September paused interest rates for the second time after first hitting the brakes in June. The central bank has hiked rates 11 times since last March. While central banks took steps to pause interest rates this week, they kept future hikes on the table.

Persons: ”, Brian Henderson, Nate Thooft, TikTok, Nnete Matima, Catherine Thorbecke, Clare Duffy, TikTok’s, George Floyd, ” Matima, ByteDance, Matima, Anna Bahney, —, Read Organizations: CNN Business, Bell, CNN, Federal Reserve, Fed, BOK Financial, United, Bank of England, Swiss National Bank, Manulife Investment Management, National Association of Realtors, That’s, NAR Locations: United States, United Kingdom, Switzerland, TikTok, Northeast, Midwest, South

☆ Russia's Black Sea Fleet has taken hits, but intel says military leaders may be more worried about an airbase attack near Moscow
▼ + stars: | 2023-09-22 | by ( Rebecca Cohen | Jake Epstein | ) www.businessinsider.com time to read: +5 min

Ukraine has relentlessly targeted the Black Sea Fleet based in occupied Crimea in recent days. Russia's Black Sea Fleet warships take part in the Navy Day celebrations in the port city of Novorossiysk on July 30, 2023. Ukraine's forces have launched several missile strikes on assets belonging to Russia's Black Sea Fleet, which is based in the occupied Crimean peninsula. On Wednesday, Kyiv said it hit a command post near the port of Sevastopol, and Russia's defense ministry admitted on Friday that the fleet's headquarters in the city was damaged by Ukrainian missiles. Britain's defense ministry attributed the increase in deep strikes to a slow-moving battlefield, where Ukrainian forces continue to make steady territorial gains in their grinding counteroffensive.

Persons: —, Antonov, STRINGER Organizations: Black, Fleet, intel, Kyiv, Service, Chkalovsky, Base, NATO, Ukrainian, Directorate of Intelligence, Getty, Kremlin Locations: Ukraine, Crimea, Russia, Moscow, Wall, Silicon, Russia's, Novorossiysk, Crimean, Sevastopol, Ukrainian, Russian

☆ Investors riddled with FOMO might be re-entering the US stock market
▼ + stars: | 2023-09-21 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —Investors who missed out on this year’s unexpected rally seem to be dipping their toes back into the US stock market. That suggests that investors who watched equities steadily climb higher this year are starting to take their cash off the sidelines and put it into the stock market, some investors say. That’s caused some investors to come down with a classic case of fear-of-missing-out, says Saira Malik, chief investment officer at Nuveen. The data-dependent central bank held rates steady on Wednesday and signaled that it could hike rates once more this year. Still, bond yields rose to their highest level since 2007 this week, as investors bet that the central bank will keep rates higher for longer.

Persons: Saira Malik, Malik, I’ll, ”, Alex McGrath, Samantha Kelly, she’s, Sam, Read, Elon, Jennifer Korn Organizations: CNN Business, Bell, CNN — Investors, Global, Bank of America, Federal Reserve, Tech, Nvidia, Apple, Microsoft, Traders, Apple Watch, smartwatches

☆ Saboteurs 'blew up' aircraft at a Russian base in the latest in a string of attacks, causing 'hysteria,' Ukrainian military intelligence reports
▼ + stars: | 2023-09-20 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

Unknown saboteurs blew up several Russian aircraft at a military base near Moscow, Ukraine reported. Kyiv said the attack damaged two planes and a helicopter and caused 'hysteria' in the Russian military. These attacks, some of which were carried out by drones, have damaged and destroyed several Russian military aircraft and underscored serious gaps in Moscow's force protection capabilities and air-defense network. The Ilyushin Il-20 ground attack aircraft. After the incident and in an attempt to better protect the airbase from future attacks, Moscow turned to a newly created civilian volunteer force to patrol the area.

Persons: that's, HUR, Antonov, Sergei Karpukhin, NIKITA SHCHYUKIN Organizations: Service, Russian, Ukrainian, Directorate of Intelligence, REUTERS, Ukrainska Pravda, Ilyushin, Getty Images Locations: Moscow, Ukraine, Russia, Wall, Silicon, Chkalovsky, AFP, Russia's, Soviet, Crimean, Russian, Sevastopol

☆ The latest data signals the Fed will pause next week and keep future rate hikes on the table
▼ + stars: | 2023-09-15 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

That data indicates that the Federal Reserve is still likely to hold rates steady next week, some investors say. Inflation: US inflation climbed 3.7% in August from the prior year, marking an acceleration for the second consecutive month, according to the latest Consumer Price Index. Excluding the boost from gas station sales, retail spending added 0.2% in August from July. Traders see a roughly 97% chance that the central bank keeps rates unchanged in September, according to the CME FedWatch Tool. The central bank has now raised its main interest rate at 10 consecutive meetings, taking it to the highest level since the launch of the euro currency in 1999.

Persons: “, ”, Sam Millette, Price, Taylor Swift, Bill Adams, Jerome Powell, Liz Young, CNN’s Olesya, Michelle Toh ., Read Organizations: CNN Business, Bell, CNN, Federal Reserve, Commonwealth Financial Network, National Federation of Independent Business, Comerica Bank, Traders, European Central Bank, Central Bank, ECB, Cornell University, Schroders, Fashion, Cornell’s Global Labor Institute Locations: Saudi Arabia, Russia, Jackson Hole , Wyoming, Bangladesh, Pakistan, Vietnam, Cambodia, Schroders

☆ Wall Street’s mood is improving — but it’s far from upbeat
▼ + stars: | 2023-09-14 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —Wall Street’s optimism has edged up in recent weeks after an August slump to levels not seen since the collapse of several regional banks earlier this year. CNN’s Fear & Greed Index, which tracks seven different barometers for market sentiment, has oscillated between “neutral” and “greed” territory this month after plunging to a “fear” reading mid-August. The broad-based S&P 500 index has roared 16% higher this year, propped up by Wall Street’s infatuation with artificial intelligence that’s driven a powerful rally in tech stocks. While the Fed’s policy meeting is taking place next week, there’s a laundry list of factors stoking uncertainty in the market. September has historically been the worst month for stocks, and it could live up to its reputation this year.

Persons: it’s, August’s selloff, ”, Eric Sterner, Wall, Michael Arone, Arone, Chris Isidore, “, Gary Quirk, Quirk, epitomize, Birkenstock Organizations: CNN Business, Bell, CNN, Apollon Wealth Management, Federal Reserve, Stocks, State Street Global Advisors, American, of, United Auto Workers, Stellantis, Jeep, Dodge, Chrysler, Samsung, UAW, Wall Street, US Securities and Exchange Commission, New York Stock Exchange, Financial Locations: Kokomo , Indiana, New York, United States

☆ FBI investigating violent threats against officials in Fulton County, Georgia
▼ + stars: | 2023-09-14 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Fulton County Sheriff officers in front of the Fulton County Courthouse on September 06, 2023 in Atlanta, Georgia. The Federal Bureau of Investigation is responding to violent threats made against officials in Fulton County, Georgia, the agency said in a statement Thursday. The FBI said it is working with the Fulton County Sheriff's Office, but declined to discuss details of ongoing investigations. "Individuals found responsible for making threats in violation of state and/or federal laws will be prosecuted." Fulton County District Attorney Fani Willis, who is prosecuting Trump, said in late July that she had received racist threats ahead of her decision to bring charges against the former president.

Persons: Donald Trump, Fani Willis, Trump, Joe Biden's, Hunter Biden, Robert Hur, Jack Smith Organizations: Fulton County Sheriff, Courthouse, Federal Bureau of Investigation, FBI, Sheriff's, Fulton, Prosecutors, NBC News, Trump Locations: Fulton County, Fulton, Atlanta , Georgia, Fulton County , Georgia, Georgia, Florida, Washington

NEW YORK (AP) — The National Book Award longlist for young people's literature features a range of grownup topics, from the deadly famine in Ukraine in the 1930s to the 1963 March on Washington to the underpinnings of the Internet. The list of 10 was announced Wednesday by the National Book Foundation, which also released 10 nominees in literature in translation, with original languages including Korean, Arabic and French. The lists, along with those for fiction, nonfiction and poetry to be announced later this week, will be narrowed next month to five in each category. The winners will be revealed during a Manhattan ceremony Nov. 15. Drew Barrymore had been scheduled to host but was dropped this week by the foundation after she resumed taping her talk show in the midst of the Hollywood writers' strike.

Persons: Drew Barrymore, Katherine Marsh's “, Dan Nott's, Yohuru Williams, Michael G, Long's, Huda, Dan Santat's, ” Kenneth M, Cadow's, ” Alyson Derrick's, Betty C, Tang's, Juan Cárdenas, Lizzie Davis, Bora Chung, ”, Anton Hur, David Diop, Sam Taylor, Jenny Erpenbeck, “, Michael Hofmann, Stênio Gardel, Bruna Dantas Lobato, Khaled Khalifa, Leri Price, Fernanda Melchor, Sophie Hughes, Pilar Quintana's, Lisa Dillman, Astrid Roemer's “, Lucy Scott, Mohamed Mbougar Sarr's, Lara Vergnaud Organizations: National Book Foundation, Hollywood, Jobs, “ Locations: Ukraine, Washington, Manhattan, Ukrainian, Provinces, “, Miami

☆ Video shows Ukrainian special forces retaking control of gas drilling platforms in the Black Sea during daring raid
▼ + stars: | 2023-09-12 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Ukraine said on Monday it had recaptured several offshore drilling rigs in the Black Sea. The two-day raid, dubbed "Battle for the Sea," was part of a special forces operation. The platforms were occupied by Russia since 2015 and used for military purposes, according to Ukraine. The 13-minute-long edited video, released on Monday, shows special forces regaining control of the Petro Godovanets and Ukraina drilling rigs, as well as the self-elevating Tavrida and Syvash drilling platforms. Advertisement Advertisement Watch: The true cost of Ukraine's dam disaster"On the drilling platforms, the Russians set up warehouses with ammunition and fuel for helicopters," the video says, according to a BBC translation.

Persons: Petro Organizations: Service Locations: Ukraine, Russia, Wall, Silicon, Russian, Crimea, Odesa

☆ Dramatic video shows Ukrainian special forces battling a Russian Su-30 from small boats at sea. Kyiv's forces say they scored a hit, forcing the jet to flee
▼ + stars: | 2023-09-12 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

Ukraine shared a video of Ukrainian special forces on boats near the platforms battling a Russian fighter jet. The Ukrainians eventually struck the Russian jet with a man-portable air defense system, or MANPADS, according to a translated version of the HUR video with English subtitles. In a video published by Ukrainian GUR about raids on the Boyko Towers sea rig near Crimea, they showed a battle between 3 Ukrainian small boats and a Russian jet. The battle between the boats and the fighter jet was part of a 13-minute video released by Ukraine's military intelligence agency that showed additional aspects of the operation. AdvertisementAdvertisementUK intel added that the week prior to that update a Russian combat jet shot at a small Ukrainian military boat operating near a platform.

Persons: HUR, Ukraine's HUR, Ukrainian GUR, Z7aU43085B — Dmitri, @wartranslated Organizations: Service, Russian, Ukrainian, The New York Times, Reuters, UK Defence Intelligence, intel Locations: Ukraine, Russia, Russian, Wall, Silicon, Crimea, Ukrainian

☆ The case for owning stocks over bonds is crumbling
▼ + stars: | 2023-09-08 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —The allure of owning stocks over less risky investments is at its lowest level in decades, according to one measure, despite the equity market’s race upward this year. At the same time, hot economic data has helped push Treasury yields higher in recent months. Treasury bonds are generally seen as safer investments than stocks, since they’re issued by the US government, which has never defaulted on its debt. One way to calculate that premium is by subtracting the estimated return on nearly risk-free bonds from that of stocks: in this case, the spread between the S&P 500 index earnings yield and 10-year Treasury yield. The bigger question might be: Why did Swift decide to release her highly anticipated film in theaters over a streaming service?

Persons: Bonds, they’re, Treasuries, ”, Seema Shah, Shah, Taylor Swift, Swift, Read, Bryan Mena Organizations: CNN Business, Bell, CNN, Federal, Treasury, Asset Management, Stocks, Federal Reserve, AMC Theaters Locations: Taylor, North America

☆ Why Taylor Swift might have chosen theaters for the Eras Tour film's debut, according to experts
▼ + stars: | 2023-09-07 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Taylor Swift’s fans know the greatest films of all time were never made, but that could be called into question come October 13, when her Eras Tour concert movie is set for release in North America. Experts say that choosing movie theaters for the Eras Tour film’s debut over the small screen is a move fitting of both Swift’s business acumen and relationship with her fans. Unlike her previous concerts, the Eras Tour has become a cultural phenomenon. Others seemed to have their own reasons for concern about the Eras Tour film release’s timing. The “Exorcist: Believer,” originally scheduled to be released on the same day as Swift’s film, moved it up a week.

Persons: New York CNN — Taylor Swift’s, Swift, “ Taylor, “ Taylor Swift, Fearless ”, ”, wouldn’t, Jonathan Kuuskoski, Ralph Jaccodine, Bruce Springsteen, Kiss, that’s, “, “ Barbie ”, “ Oppenheimer, “ Barbie, Michael O’Leary, O’Leary, “ You’re Organizations: New, New York CNN, AMC Theaters, Netflix, Disney, Apple Music, Warner Bros, University of Michigan School of Music, Theatre, Ticketmaster, Berklee College of Music, CNN, National Association of Theater Owners, AMC Locations: New York, North America, France

☆ September is historically the worst month for stocks. That might not be the case this year
▼ + stars: | 2023-09-07 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —US stocks typically see their worst performance of the year in September, but there are signs the market could avoid a steep downturn this time around. This month has been the worst for stocks on average since 1928, according to Yardeni Research. That’s partly because, much like August, there is a lull in economic data that could catalyze a stock rally. While stocks fell roughly 2% in August, they still outperformed their 4% loss during the same month last year. It’s the latest example of how extreme weather, exacerbated by climate change, impacted major North American attractions this summer, reports my colleague Nathaniel Meyersohn.

Persons: Mark Hackett, Hackett, “, ”, Stocks, he’s, Nathaniel Meyersohn, Red Bull, Jessie Yeung, Junko Ogura, Nissin, Nissin Curry, ” Read Organizations: CNN Business, Bell, CNN, Research, Labor, Nationwide, Reserve, Dow Jones Industrial, Nasdaq, Nvidia, Walt Disney World, Universal Orlando Locations: Saudi Arabia, Russia, Nevada, SeaWorld, Southwest, California, Canada, Florida, Asia, Japan

☆ Read Your Way Through Seoul
▼ + stars: | 2023-09-06 | by ( Han Kang | ) www.nytimes.com time to read: +3 min

It consists of bizarre, supernatural tales — kings born from eggs, a magic flute that hushes the storms to sleep. “The Story of Hong Gildong,” also from the Joseon dynasty, was recently translated into English by Minsoo Kang. After starting with sparkling childhood memories in Kaesong — now in North Korea — the narrative shifts to Seoul in the midst of the Korean War. What should I read before I go to Seoul? And novels such as “Concerning My Daughter,” by Kim Hye-jin, translated by Jamie Chang; “My Brilliant Life,” by Ae-ran Kim, translated by Chi-Young Kim; and “Your Republic Is Calling You,” by Kim Young-ha, also translated by Chi-Young Kim, reflect the ambience of Seoul.

Persons: Samguk, Ilyon, Kumo, Kim Sisup, Hong Gildong, ”, Minsoo Kang, Gildong, Heo Gyun, Yu Young, Stephen J, Epstein, Kim Hyesoon, Don Mee Choi, Lee Jangwook, Sun Kim, Tsering, Shim Bo, Chung Eun, Brother Anthony of Taizé, Kim Yi, Ji Yoon Lee, Johannes Göransson, Kim Min Jeong, Soeun Seo, Jake Levine, “, Ha Seong, Janet Hong, Bora Chung, Anton Hur, Sang, Hur, Choi Eunyoung, Sung Ryu, Kim Hye, Jamie Chang, Kim, Young Kim, Kim Young Organizations: Chi Locations: Ancient Korea, Korean, Wan, —, North Korea, Seoul, Noon, ”, Big City

☆ Watch: Russian Attack Hits Market in Eastern Ukraine
▼ + stars: | 2023-09-06 | by ( ) www.wsj.com time to read: 1 min

Ukraine Releases Video of Russian Pilot Who DefectedA Russian pilot who defected to Ukraine last month spoke to reporters on Tuesday and said he had been helped by Ukraine’s HUR military intelligence service. Maksim Kuzminov said he reached out to the agency late last year after months lamenting the Russian invasion of Ukraine and his part in it. Photo: Kirill Chubotin/Zuma Press

Persons: Ukraine’s HUR, Maksim Kuzminov, Kirill Chubotin Organizations: Russian, Zuma Locations: Ukraine, Russian

☆ Enrique Tarrio, Proud Boys Leader, Sentenced to 22 Years in Prison
▼ + stars: | 2023-09-05 | by ( ) www.wsj.com time to read: 1 min

Persons: Ukraine’s HUR, Maksim Kuzminov, Kirill Chubotin Organizations: Russian, Zuma Locations: Ukraine, Russian

☆ Ukraine Releases Video of Russian Pilot Who Defected
▼ + stars: | 2023-09-05 | by ( ) www.wsj.com time to read: 1 min

9/5/2023 12:22PMA Russian pilot who defected to Ukraine last month spoke to reporters on Tuesday and said he had been helped by Ukraine’s HUR military intelligence service. Maksim Kuzminov said he reached out to the agency late last year after months lamenting the Russian invasion of Ukraine and his part in it. Photo: Kirill Chubotin/Zuma Press

Persons: Ukraine’s HUR, Maksim Kuzminov, Kirill Chubotin Organizations: Zuma Locations: Russian, Ukraine

☆ Home builder stocks shine as prospective buyers turn to new construction
▼ + stars: | 2023-09-01 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

CNN —Home builder stocks are on a tear, boosted by a jump in demand as some Americans shun the historically tight and unaffordable market for existing housing. The Federal Reserve’s bid to bring down inflation by raising interest rates has sent US mortgage rates soaring over the past year. That’s been a boon to home builder stocks. That helped lift some home builder stocks, though many still slipped in August along with the broader market. Labor Day weekend gas prices are near all-time highsDrivers hitting the road this Labor Day weekend will be greeted by historically high gas prices for this time of the year.

Persons: That’s, Pultegroup, DR Horton, Lennar, Warren Buffett, Berkshire Hathaway, DR, NVR, Anna Rathbun, Ethan Allen, Read Organizations: CNN Business, Bell, CNN —, Federal, Toll, Bank of America, Berkshire, CBIZ Investment Advisory Services, Labor, CNN, AAA, government’s National Bureau of Statistics Locations: China, Beijing, —

☆ What higher-for-longer interest rates could mean for tech stocks
▼ + stars: | 2023-08-31 | by ( Krystal Hur | American Airlines Flight Attendants Vote To Authorize A Strike | ) edition.cnn.com time to read: +5 min

CNN —After roaring higher for most of this year, the rally in tech stocks sputtered in August as investors grew increasingly worried about how long the Federal Reserve will keep interest rates high. Strong economic data in recent months has investors betting that the Fed will keep interest rates higher for longer. Higher yields also mean companies will need to pay more interest on their debt in the future, eating into future cash flows. Sustained, lofty yields could particularly pose a problem for tech stocks, which often trade at a premium because of the promise of rapid growth. Any sell-off in tech could reverberate across the broader market, since those stocks are largely responsible for propelling this year’s rally.

Persons: Ivana Delevska, Spear, Bryan Mena, CNN’s Gregory Wallace, Julie Hedrick, “ We’re, Read Organizations: CNN Business, Bell, CNN, Federal Reserve, Treasury, Nvidia, Devices, Marvell Technology, Gross, Commerce, American Airlines, Association of Professional, Airline

☆ Jackson Hole: Fed policy collides with reality in the most unequal county in America
▼ + stars: | 2023-08-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Central bank officials from across the world have descended upon Jackson Hole, Wyoming this week to discuss policy decisions that will shape the economy for years to come. That’s because Jackson Hole is the most economically unequal place in the United States, according to the Economic Policy Institute. What’s happening: The snow kissed peaks and verdant valleys of Jackson Hole, Wyoming — where Federal Reserve Chair Jerome Powell is due to give a highly anticipated speech on Friday — aren’t just awe-inspiring. Among the top 1% in Teton County (where Jackson Hole is located), the average annual income is a jaw-dropping $22.5 million. The extreme wealth disparity in Jackson Hole is a perfect example of that dichotomy.

Persons: Jackson, Jerome Powell, aren’t, They’re, ”, Kenan Fikri, “, they’re, Powell, ” Jackson, That’s, Allison Morrow, Krystal Hur, it’s, Anna Bahney, Black Knight, Knight, Andy Walden Organizations: CNN Business, Bell, New York CNN, Economic, Institute, Census Bureau, Economic Innovation, Nvidia, Revenue, Wall, Federal Reserve, Black Locations: New York, Jackson Hole , Wyoming, United States, Teton County, Wyoming, Jackson, Teton, Santa Clara , California

☆ Ukraine says its special forces pulled off a daring amphibious raid into occupied Crimea, hit Russian troops, and raised the flag on the peninsula
▼ + stars: | 2023-08-24 | by ( Jake Epstein | Nathan Rennolds | ) www.businessinsider.com time to read: +7 min

Ukrainian special forces made a surprise amphibious raid into occupied Crimea on Thursday. Kyiv's military intelligence agency said its troops engaged with Russians and raised a flag there. It is the latest in a string of engagements around Crimea, which Ukraine has vowed to liberate from Russia. The amphibious raid — and symbolic flag raising — also comes as Ukraine observes its 32nd Independence Day. Indeed, many of Kyiv's Western military backers sent messages to mark Ukrainian Independence Day, renewing commitments to keep supporting the country with economic and security assistance.

Persons: HUR, —, Volodymyr Zelenskyy, General Budanov, Zelenskyy, Kyrylo Budanov, Putin, Budanov, Sophia, Lloyd Austin Organizations: Service, Directorate of Intelligence, Ukraine's Defense Forces, Ukrainian, REUTERS, NATO, US Locations: Crimea, Ukraine, Wall, Silicon, Crimean, Russian, Russia, Ukraine's, Olenivka, Moscow, Kyiv, Kerch, Ukrainian, REUTERS Ukraine, Kyiv's St, United States

☆ Amid a slogging counteroffensive, Ukraine sees a day of good fortune: a Russian air defense system was destroyed, one Russian pilot successfully defected, and, now, the Wagner leader may be dead.
▼ + stars: | 2023-08-24 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Wednesday brought a string of good news for Ukraine amid the 3-month-long counteroffensive. That same day, a Russian helicopter pilot defected to Ukraine, landing a Mi-8 AMTSH helicopter at the Ukrainian Poltava military air base. An official for HUR, the military intelligence agency, told local media that this was the result of a planned six-month operation. But the most significant turn of events that came Wednesday was the possible death of the Wagner Group leader, Yevgeny Prigozhin. Social media channels associated with Wagner claimed that the plane was shot down by an air-defense system.

Persons: HUR, Wagner, Yevgeny Prigozhin, Prigozhin, Angela Stenet, Vladimir Putin's, Stenet, Mykhailo Podolyak, Putin Organizations: Service, Ukrainian, Directorate of Intelligence, Wagner Group, National Intelligence, PBS, New York Times, Washington Post, Institute for Locations: Ukraine, Wall, Silicon, Russia, Russian, Crimean, Ukrainian Poltava, Moscow, Tver, Eurasia, The U.S, Melitopol, Washington, DC

☆ Could Fed Chair Powell’s Jackson Hole speech send stocks plunging again?
▼ + stars: | 2023-08-24 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —With Nvidia earnings out of the way, the next test for US markets is Federal Reserve Chair Jerome Powell’s annual speech at the Jackson Hole economic summit on Friday. “In August of 2022, Powell knew the Fed had several more rate hikes to go. Macy’s sounds the alarm on credit card delinquenciesMacy’s is warning of a spike in customers who are failing to make credit card payments, adding to the evidence of mounting financial stress on consumers, reports my colleague Matt Egan. This situation is hurting Macy’s business, driving down credit card revenue by 36% year over year and contributing to a quarterly loss, he said. Citing worsening consumer leverage metrics, Macy’s is bracing for a further increase in “bad debt” in its credit card portfolio.

Persons: Jerome Powell’s, Powell, ”, — Powell, “, Tom Graff, Matt Egan, ” Adrian Mitchell, Danielle Wiener, Bronner, Qiana Di, Di Bari, Read Organizations: CNN Business, Bell, New York CNN, Nvidia, Kansas, Fed, Dow Jones, “, Bureau of Labor Statistics Locations: New York, Wyoming, Maui, United States, Qiana Di Bari, Lahaina, Kahului

☆ Ukraine says it launched 'special operation' in Russian-occupied Crimea
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

Ukrainian President Volodymyr Zelensky speaks at the press conference after the opening session of Crimea Platform conference in Kyiv, Ukraine, 23 August 2023. OLEG PETRASYUK/Pool via REUTERS Acquire Licensing RightsKYIV, Aug 24 (Reuters) - Ukraine's navy and military intelligence carried out a "special operation" overnight in which units landed on Russian-occupied Crimea, the defence ministry's Main Directorate of Intelligence (HUR) said on Thursday. "Special units on watercraft landed on the shore in the area of the Olenivka and Mayak settlements," HUR said in a statement. "Also, the state flag flew again in Ukrainian Crimea," it said, without saying where exactly or providing further details. On Wednesday, Ukraine's military intelligence also reported deliberately luring a Russian military pilot to land his Mi-8 helicopter at a Ukrainian airfield.

Persons: Volodymyr Zelensky, OLEG PETRASYUK, HUR, Volodymyr Zelenskiy, Dan Peleschuk, Timothy Organizations: REUTERS Acquire, Rights, Directorate of Intelligence, Reuters, Timothy Heritage, Thomson Locations: Crimea, Kyiv, Ukraine, Russian, Russia, Olenivka, Ukrainian Crimea, Ukrainian

New York CNN —The stock market has boomed this year, and one big reason is a company without much name recognition — unless you’re a hard core video gamer. Nvidia (NVDA) has surged 222% this year, including a 3% bump Thursday following super impressive earnings. But Nvidia is by far the most sought-after AI stock. Revenue went from $6.7 billion in the second quarter last year to $13.5 billion this year. The results were even stronger than the $11.2 billion in revenue that Wall Street analysts expected.

Persons: it’s, Jacob Bourne, Raj Joshi Organizations: New, New York CNN, Nvidia, Meta, Nasdaq, Revenue, Wall, Federal Reserve, ”, Intelligence, Moody’s Investors Service Locations: New York, Santa Clara , California

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