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The assessment of China's military said China's fleet of six Jin-class ballistic missile submarines were operating "near-continuous" patrols from Hainan Island into the South China Sea. Equipped with a new, longer-range ballistic missile, they can hit the continental United States, analysts say. Communications are crucial and complex for ballistic missile subs, which must remain hidden as part of their mission. The Chinese military has emphasised that the Central Military Commission, headed by President Xi Jinping, is the only nuclear command authority. Russia is thought to keep most of its 11 ballistic missile submarines largely in bastions off its Arctic coasts, while U.S., French and British boats roam more widely, three analysts said.

☆ NYC mayor warns Trump supporters ahead of arraignment: 'Be on your best behavior'
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Jeenah MoonApril 3 (Reuters) - New York City Mayor Eric Adams addressed Donald Trump supporters directly Monday, saying city authorities would not hesitate to arrest and charge anyone who breaks the law in protest over the former president's upcoming arraignment on state charges. Trump was heading to New York on Monday and was due to surrender to prosecutors in Manhattan on Tuesday. Adams warned Trump supporters against turning to violence on Tuesday, saying the city was "not a playground for ... misplaced anger." While you're in town, be on your best behavior," said the Democratic mayor. The actress has said she was paid to keep silent about a sexual encounter she had with Trump in 2006.

But after a two-week storm which had analysts and investors rushing to rework their spreadsheets, the outlook is clouded. And the ructions have left the gap between the ratios of European and U.S. banks at its narrowest since September 2017. Reflecting concerns over the stability of the sector, bank shares are set for an almost 15% monthly drop in March, after five consecutive months of gains. European bank earnings growth expectations'UNLIKELY TO BUY'Other investors see pressure on European bank earnings as they anticipate the euro zone economy will slow down. Also in the calculation mix is the ECB's campaign to raise interest rates to tackle rising inflation, which had previously been a boon for euro zone lenders.

The specific charges are not yet known and the indictment will likely be announced in the coming days, the New York Times reported. Below is reaction to news of the indictment:FORMER REPUBLICAN REPRESENTATIVE ADAM KINZINGER: "Today is a somber day for our nation. Donald Trump committed many crimes, but this indictment should be a reminder that in America, NO ONE is above the law. DEMOCRATIC U.S. REPRESENTATIVE ADAM SCHIFF ON TWITTER: "The indictment of a former president is unprecedented. SENATOR TED CRUZ ON TWITTER: "The Democrat Party’s hatred for Donald Trump knows no bounds.

[1/2] The White House is seen from the top of the Washington Monument April 3, 2003. REUTERS/Molly RileyWASHINGTON, March 29 (Reuters) - The White House made an emotional plea on Wednesday for Republican action to curb mass shootings, criticizing conservative lawmakers for saying nothing can be done after the nation's latest high-profile mass shooting at a school in Tennessee this week. "It's unacceptable that Republicans are saying there is nothing that we can do," White House spokesperson Karine Jean-Pierre told reporters at a briefing on Wednesday. He told reporters this week he has done what he could through executive action but needs Congress to step up. Senator Marsha Blackburn of Tennessee, who has often been a harsh critic of his administration, according to the White House.

Reuters could not determine Coley's status in the government investigations or whether she had cooperated. While he was its director of enforcement, the CFTC increasingly worked on investigations in parallel with federal prosecutors. McDonald's representation of Coley comes as the U.S. investigations pile pressure on Binance, which dominates the crypto sector as the world's largest digital currency exchange. The CFTC's complaint said that Binance personnel, including Zhao, have "dictated Binance.US's corporate strategy, launch, and early operations." In a subpoena addressed to Coley that same month, the SEC also requested all records of her activities and meetings.

☆ McCarthy urges Biden to start debt talks, Democrats say he has no plan
▼ + stars: | 2023-03-28 | by ( David Morgan | ) www.reuters.com time to read: +2 min

In a letter to Biden, McCarthy proposed scaling back domestic spending, clawing back unspent COVID-19 relief funds and other changes that he said would save trillions of dollars. But his Republicans have not yet produced a budget plan of their own and could be weeks or months away from doing so. Biden, a Democrat, has insisted that Republicans who control the House instead raise the $31.4 trillion debt ceiling without conditions and produce a fiscal 2024 spending plan before he will engage in talks about spending. Republicans have sought to blame Biden, but only Congress has the authority to raise the debt ceiling. "The only thing missing is a real plan," Democratic Senate Majority Leader Chuck Schumer said in a floor speech.

☆ Landlords Are Even Less Popular Than Banks in Europe
▼ + stars: | 2023-03-28 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Europe’s listed real-estate companies have borrowed more against their properties than U.S. peers. Property companies usually find themselves at the sharp end of banks’ problems. They look particularly vulnerable in Europe, given high debt levels. Real-estate shares in the MSCI Europe Index have dropped 17% on average this month, even more than the region’s bank stocks. The panic caused by the recent U.S. banking collapses and the takeover of Credit Suisse by UBS has sharpened pre-existing worries about tightening financial conditions as interest rates rise.

The decision propelled Israel into a national crisis with massive protests that forced Netanyahu to delay the move on Monday. "We haven't taken a hands-off approach," said a senior administration official. Dennis Ross, a veteran U.S. peace negotiator between Israelis and Arabs, said the Biden administration had expressed its misgivings about Israel’s judicial proposals but had done so privately where possible. Halie Soifer, chief executive officer of the Jewish Democratic Council of America, said the way the Biden administration has handled this crisis thus far is in keeping with Biden's commitment to the U.S.-Israel partnership. But, keeping a distance from Netanyahu, Biden has yet to invite him to visit the White House since the Israeli began his sixth term as prime minister in December.

☆ Europe's banks in 'better place' than U.S. in terms of commercial property risk - JPMorgan
▼ + stars: | 2023-03-28 | by ( Marc Jones | ) www.reuters.com time to read: +2 min

LONDON, March 28 (Reuters) - Europe's banks face less threat from some of the problems now showing in the commercial real estate markets than their U.S. counterparts, analysts at JPMorgan have said. That would accelerate a property sector downturn, aggravating underlying health concerns as it did during the 2007-08 global financial crisis and a number of other major crashes. Analysts at Capital Economist estimated this week that U.S. commercial property prices will slump a further 18-20%, having already fallen 4-5% from their peak in mid-2022. Lending to commercial property accounts for about 40% of all loans by smaller U.S. banks, defined by the Federal Reserve as being those outside the 25 largest by asset size. These banks account for about 70% of outstanding loans to the commercial real estate sector.

☆ Supreme Court refuses appeal by lawyer jailed for contempt in $9.5 billion Chevron environmental case
▼ + stars: | 2023-03-27 | by ( Dan Mangan | ) www.cnbc.com time to read: +5 min

The Supreme Court refused Monday to consider the appeal of a disbarred lawyer jailed for contempt of court after he won a $9.5 billion judgment against Chevron in an environmental lawsuit in Ecuador . A group of Ecuadorians represented by Donziger filed a class-action suit against Chevron in Manhattan federal court in 1993. The plaintiffs in the lawsuit were awarded $9.5 billion from Chevron by a judge in Ecuador. Chevron then filed a legal action in Manhattan federal court and won an injunction against the enforcement of the judgment in any U.S. court. In the Chevron case, Gorsuch wrote, "However much the district court may have thought Mr. Donziger warranted punishment, the prosecution in this case broke a basic constitutional promise essential to ourliberty."

☆ A 28-year-old financially independent real estate investor explains the 'most inexpensive way to buy real estate' and how to score low down payments
▼ + stars: | 2023-03-26 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

Durham-based real estate investor Avery Heilbron owns 5 properties on his own and co-owns one. He afforded his first place by house hacking and says it's "the most inexpensive way to buy real estate." What allowed him to go from an average earner in America to above-average was real estate investing. Kai Anderson's book "Retire on Real Estate" was what originally nudged him in the direction of owning property, he said. "There are a lot of ways to get into real estate without actually using a lot of money," Heilbron emphasized.

☆ Russia's war on Ukraine latest: Russia attacks along Ukraine front
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +2 min

[1/2] A destroyed Russian tank remains on the side of the road near the frontline town of Kreminna, amid Russia's attack on Ukraine, in Luhansk region, Ukraine March 24, 2023. * Russia's defence ministry said its forces had destroyed a hangar housing drones belonging to Ukraine's armed forces in the southwestern Odesa region of the country. DIPLOMACY* Russia's parliament speaker proposed banning the activities of the International Criminal Court after it issued an arrest warrant for Putin, accusing him of the war crimes. * Democratic and Republican U.S. senators urged the Biden administration to share information with the ICC as it pursues war crimes charges against Putin. * U.S. President Joe Biden, appearing in Ottawa with Canadian Prime Minister Justin Trudeau, said he would continue to pressure Putin and help Ukraine.

WASHINGTON, March 24 (Reuters) - Democratic and Republican U.S. senators urged the Biden administration on Friday to share information with the International Criminal Court that could assist as it pursues war crimes charges against Russian President Vladimir Putin. Last week, the court issued an arrest warrant for Putin, accusing him of the war crime of illegally deporting hundreds of children from Ukraine. The legal move will obligate the court's 123 member states to arrest Putin and transfer him to The Hague for trial if he sets foot on their territory. Although the United States is not a party to the ICC, Biden said last week that Putin has clearly committed war crimes, adding that the ICC warrant was justified. Reporting by Patricia Zengerle; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

[1/3] U.S. President Joe Biden and Vice President Kamala Harris stand on stage together after delivering remarks at the DNC 2023 Winter Meeting in Philadelphia, Pennsylvania, U.S., February 3, 2023. Biden could lose crucial votes if he were to drop Harris, who is both the first Black and Asian-American U.S. vice president. While the vice president has disappointed some inside her party, Democrats see opportunity in the 2024 race. He leans on her a lot," said Cedric Richmond, a former congressman and former senior adviser in Biden's White House. "That was not her assignment," said the third former White House official, referring to reducing migrant crossings at the U.S.-Mexico border broadly.

☆ Judge cites Trump's past verbal attacks in using anonymous jury for rape defamation case
▼ + stars: | 2023-03-23 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Citing former President Donald Trump's history of verbally attacking people in the legal system, a federal judge ruled Thursday that a jury will be anonymous at his upcoming civil trial for allegedly defaming a writer after she accused him of raping her. "Mr. Trump repeatedly has attacked courts, judges, various law enforcement officials and other public officials, and even individual jurors in other matters," Manhattan U.S. District Judge Lewis Kaplan wrote in his order. Trump in that probe is being eyed for a hush money payment to porn star Stormy Daniels in 2016. Kaplan said he would keep secret the names, addresses and places of employment of prospective jurors for the rape defamation trial, which is set to begin April 25. Her lawsuit also makes a claim of battery for the purported assault under a new New York law that temporarily lifts the statute of limitations for old rape and molestation claims.

☆ Exclusive: Republican U.S. Senator Rick Scott, Democrat Warren unveil Fed oversight bill
▼ + stars: | 2023-03-22 | by ( David Morgan | ) www.reuters.com time to read: +4 min

Republican Rick Scott and Democrat Elizabeth Warren blamed the collapse of the two banks on regulatory failures at the U.S. central bank, which has operated up to now with an internal inspector general who reports to the Fed board. "Our legislation fixes that by establishing a presidentially-appointed, Senate-confirmed inspector general at the Fed, like every other major government agency," Scott said in a joint release with Warren. Warren said this month's banking upheavals "have underscored the urgent need for a truly independent inspector general to hold Fed officials accountable for any lapses or wrongdoing." She sits on both the Senate Banking Committee and the Senate Finance Committee, and chairs subcommittees of both panels. Reporting by David Morgan and Heather Timmons; Editing by Scott Malone and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Republican US senator doubles down on call for tighter Fed scrutiny
▼ + stars: | 2023-03-21 | by ( David Morgan | ) www.reuters.com time to read: +3 min

"The Federal Reserve, the world's largest and most powerful central bank, does not have a truly independent IG to investigate it. I'm fighting to fix that and will be introducing a bill soon - that I believe will have bipartisan support," Scott wrote. The online column marked the second time in two days that Scott has vowed to push for an independent Fed IG. He also informed Federal Reserve Chairman Jerome Powell of his plans in a letter on Monday. Republicans and Democrats in Congress have pledged tighter oversight of banking regulators following the collapse of Silicon Valley Bank and Signature Bank, which has been followed by billions of dollars in losses for financial stocks.

☆ US Sen. Scott pushes for new Fed inspector general, slams Fed over bank regulation,
▼ + stars: | 2023-03-21 | by ( David Morgan | ) www.reuters.com time to read: +3 min

Senator Rick Scott said on Monday he will introduce legislation to create an independent inspector general to oversee the Federal Reserve, as he called the U.S. central bank "unable or unwilling to properly regulate" banks in a letter to Fed Chair Jerome Powell. "I am proposing legislation to establish a presidentially-appointed and Senate-confirmed inspector general for the Federal Reserve," Scott told Powell in the letter. The Federal Reserve is responsible for supervising - monitoring, inspecting and examining - certain financial institutions to ensure that they comply with rules and regulations, and that they operate in a safe and sound manner. Scott's legislation stems from concern in Congress that the Federal Reserve's current inspector general is not independent enough to serve as a check on the central bank. Scott also urged the Fed chief to use the central bank's policy meeting this week to examine the bank failures and identify accountable Fed personnel.

☆ Saudi Arabia releases US national Almadi from prison, says son
▼ + stars: | 2023-03-21 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +3 min

His son, Ibrahim, told Reuters his father was at his home in Riyadh with his family. His case, along with those of other U.S. citizens who remain under a travel ban in Saudi Arabia, had added to an already strained relationship between the two traditional allies. U.S. President Joe Biden said he had raised the cases during meetings with King Salman and Crown Prince Mohammed bin Salman when he visited Saudi Arabia in July. In October, Biden vowed there would be consequences for Riyadh after the OPEC+ oil alliance, led by Saudi Arabia and which includes Russia, decided to cut output targets. "There are far too many people in detention in Saudi Arabia who do not have the benefits of U.S. citizenship to draw attention to their cases," he said.

The terms of the deal will see Credit Suisse shareholders receive 1 UBS share for every 22.48 Credit Suisse shares they hold. "This acquisition is attractive for UBS shareholders but, let us be clear, as far as Credit Suisse is concerned, this is an emergency rescue. The Swiss National Bank pledged a loan of up to 100 billion Swiss francs ($108 billion) to support the takeover. UBS initially offered to buy Credit Suisse for around $1 billion Sunday, according to multiple media reports. It reported a full-year net loss of 7.3 billion Swiss francs for 2022 and expects a further "substantial" loss in 2023.

☆ 'That's a lie' accusation obscures bipartisan Social Security reform talks -sources
▼ + stars: | 2023-03-17 | by ( Richard Cowan | ) www.reuters.com time to read: +4 min

When Yellen responded that Biden "stands ready to work" with lawmakers, Cassidy shot back, "That's a lie because when a bipartisan group of senators has repeatedly requested to meet with him about Social (Security) ... we have not heard anything on our requests." For several months now, Cassidy and independent Senator Angus King, who caucuses with Democrats, have tried to address Social Security underfunding as approximately 10,000 baby boomers retire every day. The last week of bank failures and worries of a wider-ranging crisis, however, could give lawmakers second thoughts about investing Social Security funds in stocks. The senators' effort is not the only Social Security rescue plan being devised. "That's really just a way to have (benefit) cuts without leaving your fingerprints on it," said Nancy Altman, president of Social Security Works and head of a coalition of labor unions and other liberal-leaning groups.

"Jamie Dimon knew in 2008 that his billionaire client was a sex trafficker," attorney Mimi Liu told Manhattan U.S. District Judge Jed Rakoff at a hearing late Thursday, referring to the year Epstein was first criminally charged with sex crimes. "If Staley is a rogue employee, why isn't Jamie Dimon?" The lawyer continued: "Staley knew, Dimon knew, JPMorgan Chase knew" about Epstein's criminal conduct. Simon Dawson | Bloomberg | Getty ImagesA lawyer for JPMorgan disputed those arguments, "in particular the point about Jamie Dimon having any specific knowledge." Wexler also said, "Jamie Dimon has no recollection of reviewing the Epstein accounts."

☆ 'That's a lie' remark muddies Social Security talks -sources
▼ + stars: | 2023-03-17 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

Politics'That's a lie' remark muddies Social Security talks -sourcesPostedA Republican U.S. senator's accusation on Thursday that Treasury Secretary Janet Yellen had lied during a tussle over Social Security obscured behind-the-scenes talks between the White House and lawmakers that have been underway for months, according to sources. This report produced by Chris Dignam.

☆ 'That's a lie' accusation obscures bipartisan Social Security reform talks, sources say
▼ + stars: | 2023-03-17 | by ( Richard Cowan | ) www.reuters.com time to read: +4 min

For several months now, Cassidy and independent Senator Angus King, who caucuses with Democrats, have tried to address Social Security underfunding as approximately 10,000 baby boomers retire every day. The last week of bank failures and worries of a wider-ranging crisis, however, could give lawmakers second thoughts about investing Social Security funds in stocks. The senators' effort is not the only Social Security rescue plan being devised. I tend to be conservative and say this worked once, let's try that again," Republican Representative Tom Cole told Reuters. "That's really just a way to have (benefit) cuts without leaving your fingerprints on it," said Nancy Altman, president of Social Security Works and head of a coalition of labor unions and other liberal-leaning groups.

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