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☆ How Do Drag Shows Advance U.S. National Security?
▼ + stars: | 2022-10-28 | by ( John Ratcliffe | Cliff Sims | ) www.wsj.com time to read: 1 min

The exportation of American culture has long been one of our nation’s greatest soft-power assets. But instead of using it to affirm Western values and U.S. interests, the Biden administration is proselytizing for woke ideology. The foreign-policy implications could be catastrophic. In an effort to “promote diversity and inclusion,” the State Department is funding “drag theater performances” in Ecuador through cultural grants. The purpose of the grants, according to official documents, is to “support the achievement of U.S. foreign policy goals and objectives, advance national interests, and enhance national security.”

☆ Russian assets seized in Ukraine may be used for reconstruction - minister
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +1 min

KYIV, Oct 28 (Reuters) - Assets belonging to Russian and Belarusian individuals seized by Ukraine could be used for the country's massive post-war reconstruction effort, Finance Minister Serhiy Marchenko was quoted on Friday as saying. The government has frozen Russian and Belarusian assets in Ukraine worth some 44 billion hryvnias ($1.21 billion) since the start of Moscow's invasion on Feb. 24, according to the Economic Security Bureau, a state agency. "Money seized on the territory of Ukraine from Russian and Belarusian citizens can be involved in this fund," he added, without elaborating. The European Union is also looking at using Russian assets frozen under Western sanctions against Moscow in the postwar reconstruction of Ukraine, the head of the European Council, Charles Michel, said at an EU summit last week. Moscow said on Thursday it would retaliate if the EU moved to confiscate assets belonging to the Russian state or its citizens.

☆ Analysis: Catalonia's economic muscle weakened five years after separatist bid
▼ + stars: | 2022-10-27 | by ( Joan Faus | ) www.reuters.com time to read: +5 min

The fallout serves as a cautionary tale for the independence movement in Scotland, which is pushing to hold another referendum next year on breaking away from the United Kingdom. Junqueras was Catalonia's deputy government head when the region held an independence referendum banned by a Spanish court. Junqueras insisted the Catalan separatist movement is still strong, pointing out the increase in pro-independence lawmakers in the past decade. Like Scotland, Catalonia's independence movement is now pushing for another referendum, this time with the approval of the Spanish government. But as with the UK government and Scotland´s bid, Spain has so far rejected the proposal.

☆ Amazon gets irrationally swept up in tech angst
▼ + stars: | 2022-10-27 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +4 min

Revenue for the business that delivers goods in the mail jumped to $107 billion, a 13% increase from a year earlier. Amazon said fourth-quarter operating income could be as low as zero along with net sales projections that fell below what analysts were expecting, according to estimates gathered by Refinitiv. Unlike Meta, Amazon is a victim of wider trends, including angst over the technology sector. Amazon Web Services, the data storage business, increased sales 28% from a year earlier to $20.5 billion, also short of Wall Street’s expectations. For the fourth quarter, Amazon said it expects net sales to be between $140 billion and $148 billion, up 2% to 8% from the fourth quarter in 2021.

☆ We're disappointed by Amazon's terrible results, stock plunge; but sticking with it for now
▼ + stars: | 2022-10-27 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Considering all the cross currents and a terrible initial stock reaction, we're going to sit tight on the stock for now. Segment Q3 sales Online Stores: $53.49 billion, up 13% year over year excluding-FX, missed the $54.27 billion expected. Physical Stores, mostly Whole Foods: $4.69 billion, up 10% from last year ex-FX, in line with the $4.71 billion expected. AWS: $20.54 billion, up 28% year over year excluding-FX, and a miss versus the $21.2 billion expected. Advertising Services: $9.55 billion, up 30% year over year excluding-FX, and a slight beat versus the $9.481 billion expected.

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☆ The ‘Anti-Navy’ the U.S. Needs Against the Chinese Military
▼ + stars: | 2022-10-26 | by ( Mike Gallagher | ) www.wsj.com time to read: 1 min

As Xi Jinping secured a third term as general secretary of the Chinese Communist Party, U.S. foreign policy entered a window of maximum danger. In a speech to the 20th Party Congress, Mr. Xi made clear that unification with Taiwan “must” and “can, without doubt, be realized.”Secretary of State Antony Blinken admitted that Mr. Xi is moving on a “much faster timeline” to take Taiwan, and Chief of Naval Operations Michael Gilday said he couldn’t rule out an invasion in 2022 or 2023. Domestically, Mr. Xi’s problems—a structural economic slowdown, skyrocketing household debt, and the demographic buzzsaw of the largest group of retirees in human history—will all get worse in the 2030s.

☆ Britain’s Decline From Winston Churchill to Liz Truss and Rishi Sunak
▼ + stars: | 2022-10-26 | by ( Walter Russell Mead | ) www.wsj.com time to read: 1 min

Walter Russell Mead is the Ravenel B. Curry III Distinguished Fellow in Strategy and Statesmanship at Hudson Institute, the Global View Columnist at The Wall Street Journal and the James Clarke Chace Professor of Foreign Affairs and Humanities at Bard College in New York. He is also a member of Aspen Institute Italy and board member of Aspenia. Before joining Hudson, Mr. Mead was a fellow at the Council on Foreign Relations as the Henry A. Kissinger Senior Fellow for U.S. Foreign Policy. He has authored numerous books, including the widely-recognized Special Providence: American Foreign Policy and How It Changed the World (Alfred A. Knopf, 2004). Mr. Mead’s next book is entitled The Arc of A Covenant: The United States, Israel, and the Future of the Jewish People.

☆ Medical Company Seeks $50 Million From Glencore Over Congolese Bribe
▼ + stars: | 2022-10-26 | by ( Dylan Tokar | ) www.wsj.com time to read: +2 min

A company founded by a South African husband and wife to provide medical care for Congolese miners asked a federal judge in Manhattan for $50 million in restitution for the harm it said it suffered from a bribery scheme involving Glencore PLC. Glencore, an Anglo-Swiss commodities company, in May agreed to pay about $1.2 billion to resolve long-running investigations by U.S., U.K. and Brazilian authorities into bribery and market-manipulation misconduct. Newsletter Sign-up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. After a dispute over the appointment of a manager to oversee those contracts, Kamoto terminated the agreements, according to Crusader Health. The bribe, which was described in settlement documents between Glencore and the U.S. government, ultimately forced Crusader Health to shut down, the company said.

☆ Coca-Cola raises full-year outlook as earnings beat expectations
▼ + stars: | 2022-10-25 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Coca-Cola on Tuesday raised its full-year outlook after beating Wall Street's expectations for its quarterly earnings and revenue. Foreign currency is also predicted to weigh on Coke's earnings and revenue. Shares of the company rose 3% in premarket trading. For 2022, Coke now expects comparable earnings per share growth of 6% to 7%, up from its prior range of 5% to 6%. The company also raised its outlook for organic revenue growth to 14% to 15% from a range of 12% to 13%.

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☆ Analysts are pounding the table for these 'well positioned' stocks head of earnings
▼ + stars: | 2022-10-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Analysts say there are a handful of buying opportunities as earnings season continues, including a slew of big names. CNBC Pro combed through the top Wall Street research to find stocks to buy ahead of earnings. In fact, Keane said the company's upside potential is so large, it hasn't even begun to scratch the surface. In fact, the firm said it sees "potential upside" due to iPhone "share gains in China and the enterprise market." "We believe CMG represents a rarity as we hunt through our coverage for earnings upside," Bittner said.

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Federal prosecutors in Brooklyn say Barrack, 75, used his influence with the Trump campaign and administration to push the United Arab Emirates' interests without notifying the U.S. attorney general, as required by law. Cogan said there was therefore "some indication of bias" from Mnuchin's testimony given that the UAE would likely not want a jury to convict Barrack. He said he would nonetheless limit prosecutors' ability to detail the "mind-boggling" amounts of money involved in Mnuchin's dealings with the UAE. The trial began on Sept. 19, and prosecutors rested their case earlier this week. Mnuchin is not the first former Trump administration official to take the stand in the case.

☆ Goldman Sachs' humbling U-turn on its consumer banking ambitions
▼ + stars: | 2022-10-19 | by ( Jeffrey Cane | ) www.businessinsider.com time to read: +5 min

Third-quarter results from the big Wall Street banks are now behind us, and they were … pretty good, all things considered? Goldman Sachs reported yesterday, and while it may not be the biggest nor the best bank (OK, No. Trading and dealmaking made the reputation of the 153-year-old Wall Street firm, but the spotlight lately has been on its struggling consumer banking unit, Marcus. The consumer business "doesn't make money at the moment," Solomon acknowledged, but he added: "The deposits are hugely valuable. From Wall Street darlings to prey.

☆ U.S. Treasuries post record foreign inflows in August -Treasury data
▼ + stars: | 2022-10-18 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +3 min

Data showed that foreign investors poured an all-time peak of $174.2 billion into U.S. Treasuries, up from $23 billion in July. The foreign inflows, however, did not square up with the price action in Treasuries. Central banks have been known to sell their Treasury holdings in order to defend their struggling currencies. Overall, foreign holdings of Treasuries rose to $7.509 trillion in August, from $7.501 trillion in July, data showed. U.S. corporate bonds posted inflows in August of $9.45 billion, up slightly from July's $8.78 billion inflows.

"It's a catch-up, or catch-down, kind of effect," said Galvin Chia, an emerging markets strategist at NatWest Markets. "There are some exceptional factors, but none of these would provide that kind of panacea for underlying risks that remain." Indonesia's foreign exchange reserves fell by $1.4 billion last month to $130.8 billion, due to debt payments and Bank Indonesia's efforts to stabilise the rupiah. read moreData for September also showed a surge in Indonesia's inflation to a seven-year high, reflecting a jump in fuel prices. "If you look at consumption, look at credit growth, everything is domestic, unlike the other export markets in Asia.

Chase, American Express, Citi, Capital One, and other banks are currently offering elevated credit card bonuses, and there are dozens of other lucrative deals available. Note that credit card lenders may use many different variations of credit score models when considering your application. If you're looking to take advantage of a credit card 0% APR offer, one of the best options is the Citi® Diamond Preferred® Card. How to pick a credit card bonusCredit card limited time offersCredit card intro bonuses aren't always the same. For a flexible all-around card with a six-figure bonus and modest annual fee, the Ink Business Preferred® Credit Card is a terrific choice.

☆ Opinion | Abortion Is Legal in Ethiopia. But Half of These Clinics Won’t Provide Them.
▼ + stars: | 2022-10-17 | by ( Anu Kumar | ) www.nytimes.com time to read: +12 min

When Congress passed the Helms Amendment, only six of those countries allowed abortion in circumstances beyond saving a woman’s life. And every year, more than 16,000 of the women and girls who have received these unsafe abortions die from more serious complications. President Biden also has the power to mitigate some of the harms of the Helms Amendment. His administration could also ensure that clinics in countries where abortion is legal understand that U.S. rules allow them to offer abortion information and counseling. The Helms Amendment is an act of international interference and overreach, and it has to end.

☆ Iran plans to supply ballistic missiles to boost Russia's dwindling arsenal in Ukraine war, says WaPo report
▼ + stars: | 2022-10-16 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +3 min

Iran is set to increase its supply of arms to Russia, the Washington Post reports. Earlier this week, Zelenskyy said Russia used drones from Iran in a barrage across Ukraine. The Post reports that officials in Iran have agreed to send new surface-to-surface missiles and more attack drones to deploy against Ukraine's troops and cities. Ukrainian military officials and experts have confirmed that the Russian military is firing Iranian-made "kamikaze or suicide drones." Ukrainian officials have said that Iran supplied the majority of drones deployed by Russia in southern Ukraine, The Post said.

☆ China is no longer just any emerging market — it has become its own beast
▼ + stars: | 2022-10-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Analysts note longer-term trends of China's reduced dependency on foreign investment and intellectual property. Kevin Frayer | Getty Images News | Getty ImagesBEIJING — China is no longer just another emerging market play. Analysts note longer-term trends of China's reduced dependency on foreign investment and intellectual property. So far, she said, the number of clients excluding China isn't "overwhelming," and by metrics such as per capita GDP the country remains an emerging market. An internal party committee, or office, gathers together a company's employees who are members of the Communist Party of China.

☆ Analysis: As markets fret, Fed officials reject idea of rising financial stability risks
▼ + stars: | 2022-10-13 | by ( Michael S. Derby | ) www.reuters.com time to read: +6 min

Tobias Adrian, the International Monetary Fund's monetary and capital markets director,wrote on Tuesday that financial stability risks have risen "substantially." Fed officials have lifted the federal funds rate from near-zero levels in March to the current range of between 3.00% and 3.25%. Financial markets expect the Fed to raise the rate again by three-quarters of a percentage point at its next policy meeting in November. More rate rises are very likely after that, with central bankers penciling in a 4.6% federal funds rate by some point in 2023. Making financial conditions more restrictive is key to how monetary policy operates.

☆ For South Korea, U.S. EV Subsidies Both Give and Take Away
▼ + stars: | 2022-10-12 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

The Inflation Reduction Act provides a plethora of subsidies to boost domestic manufacturing for goods that help combat climate change. Tweaks to subsidies for new electric vehicles, however, are causing some ripples for U.S. foreign relations. South Korean automakers may be hurt by the legislation. But its battery makers, including global heavyweight LG Energy, may benefit down the road.

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