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North Korea has escalated its weapons tests and fiery rhetoric as the U.S. and South Korea continue large-scale joint military exercises this week. An hour later, North Korea fired two suspected short-range ballistic missiles toward the sea from the Gaechon area of South Pyongan province. North Korea last tested an intercontinental ballistic missile in March, its first such test since 2017. Early last month, North Korea sent an intermediate-range ballistic missile soaring over Japan in its longest-ever weapons test. Tensions had already risen Wednesday when South Korea responded to North Korea’s barrage by firing three air-to-surface missiles of its own.

Hivemapper Inc, which announced $18 million in fundraising from investors in April, said it has so far sold over 5,500 dashcams across 66 countries. As drivers record road signs and storefronts, they mint tokens that Hivemapper named Honey. Hivemapper Chief Executive Ariel Seidman said U.S. regulations limit him from discussing how and when Honey can be spent. While some investors such as Hivemapper backer Multicoin Capital are bullish on Web3 efforts, skeptics worry about currency speculation and fraud. Mapmaker HERE, owned in part by German automakers, is evaluating Hivemapper's imagery for potential use, including for up-to-date speed limit data.

☆ Analysis: Arabs view revived Netanyahu with concern but as balance against Iran
▼ + stars: | 2022-11-02 | by ( Suleiman Al-Khalidi | ) www.reuters.com time to read: +6 min

Lebanon's caretaker prime minister predicted a new maritime border deal would hold, while Palestinians and Jordanian experts forecast new strains. "Netanyahu was part of the Abraham Accords and signed it so there is no change in the course of normalisation," he said. But in Jordan, home to millions of Palestinian refugees and their families, his expected triumph was met with concern. "Today the Israeli right is talking about expelling Palestinians, they are saying there is no (Palestinian) state ..so what is left for Arabs?" Netanyahu "has been terrible for even the semblance of a peace process which Egypt officially upholds," he said.

☆ Wall St drops as focus shifts to Fed rate decision
▼ + stars: | 2022-10-31 | by ( Amruta Khandekar | ) www.reuters.com time to read: +4 min

A policy decision from the Fed is due on Wednesday, with investors expecting a fourth straight 75-basis point interest rate hike to curb decades-high inflation. Among S&P 500 sectors, information technology (.SPLRCT) and communication services (.SPLRCL) were the lead decliners, falling 1.2% and 1.5%, respectively. Meanwhile, traders' bets of a 50 basis point rate hike in December stood at 44.6%, according to CME Group's Fedwatch tool. Among single stocks, TuSimple Holdings (TSP.O) plunged 46.8% after the trucking firm said its board terminated its chief executive officer. The S&P index recorded 22 new 52-week highs and seven new lows, while the Nasdaq recorded 101 new highs and 79 new lows.

☆ Education Department overhauls federal student loan system, aiming to make it 'simpler, fairer and more accountable'
▼ + stars: | 2022-10-31 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

The U.S. Department of Education announced on Monday sweeping new changes to the federal student loan system, including additional consumer protections for borrowers and limits on the amount of interest that can accrue on the debt. "Today is a monumental step forward in the Biden-Harris team's efforts to fix a broken student loan system and build one that's simpler, fairer, and more accountable to borrowers," said U.S. Secretary of Education Miguel Cardona, in a statement. The Biden administration will also curb the practice of interest capitalization — in which unpaid interest is added to the borrower's principal. The Public Service Loan Forgiveness Program, which allows public servants and those who work for certain nonprofits to get their debt canceled after a decade, will also get an overhaul. Months that previously didn't qualify toward a borrowers' debt relief, including those when they were in a economic hardship deferment, will be counted.

Some experts argue that recognizing North Korea as a nuclear-armed state, something Pyongyang seeks, is a prerequisite for such talks. North Korea has rejected U.S. calls to return to talks. Asked if it was time to accept North Korea as a nuclear state, she replied: "Wording aside, we are committed to the denuclearization of the Korean Peninsula. We do not accept North Korea with that status. "She was acknowledging, as other officials in other administrations have, that North Korea does have nuclear weapons, but in violation of its commitments under the NPT not to pursue nuclear weapons," he told Reuters.

BAKU, Oct 27 (Reuters) - One of Russian President Vladimir Putin's closest allies, oil chief Igor Sechin, on Thursday heaped praise on China's leadership, quipping that Taiwan would return to its "native harbour" on time. Sechin, the head of Russia's largest oil producer Rosneft (ROSN.MM), also said that Saudi Arabia's position on the global oil market was "reasonable" and based on analysis of oil supply and demand. Russia has moved to forge closer ties with Asia, especially energy-hungry China, to offset Western sanctions on Moscow over Ukraine. Sechin said U.S. attempts to create its own complex microchip industry showed that "Taiwan's return to its native harbour" was "on schedule". Reporting by Nailia Bagirova and Olesya Astakhova; writing by Vladimir Soldatkin; editing by Guy FaulconbridgeOur Standards: The Thomson Reuters Trust Principles.

☆ JetBlue Posts Profit as Travel Demand Remains Strong
▼ + stars: | 2022-10-25 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

JetBlue said U.S. travel demand has persisted through the fall, when the industry typically sees a slowdown. JetBlue Airways said strong demand for leisure travel carried through from the summer into the start of the fall. The airline said Tuesday it managed to post a profit for the third quarter even as costs surged almost 36%, driven by higher fuel prices. JetBlue said that the quarterly profit was its first on an adjusted basis since the pandemic derailed air travel.

Migrants arriving at the U.S.-Mexico border are prompting U.S. President Joe Biden's administration to call for unfreezing Venezuelan funds held in foreign banks that would provide needed food and medicine, the sources told Reuters. It also has some in Venezuela's opposition parties worried about the political impact of releasing funds that Maduro could claim credit for ahead of a potential 2024 presidential election. The United Nations drafted a first proposal to oversee the fund in mid-October, the sources told Reuters. Opposition envoys discussed the aid package with U.S. officials during their meetings last week in Washington, four of the sources said. For the United Nations, it could become one of the largest funds ever handled, even though the total amount that could be legally released is not clear.

☆ U.S. set to meet Dutch in final re-match at 2023 World Cup
▼ + stars: | 2022-10-22 | by ( ) www.reuters.com time to read: +3 min

Soccer Football - 2023 Women's World Cup Draw - Aotea Centre, Auckland, New Zealand - October 22, 2022 2023 Women's World Cup official mascot Penguin Tazuni and performers after the draw ceremony REUTERS/Shane WenzlickAUCKLAND, Oct 22 (Reuters) - Four-times winners the United States will face the Netherlands in a rematch of the 2019 World Cup final after being drawn with the European side, debutants Vietnam and a playoff winner at Saturday's draw in Auckland for next year's showpiece. Register now for FREE unlimited access to Reuters.com Register"We've got a good but somewhat tough draw," said U.S. coach Vlatko Andonovski. "I think it's going to be exciting (to play the Dutch) because it's a rematch of the last World Cup final, it was also the quarter-final match of the Olympics so two quality teams playing against each other. New Zealand will kickoff the first World Cup to be held in the southern hemisphere against former champions Norway in Auckland on July 20 and will also face the Philippines and Switzerland in Group A. "Canada are a world class team, top-ranked in our group and favourites to win it.

☆ Mexican president hints at Venezuela-U.S. accord amid migration rise
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +4 min

Mexico's President Andres Manuel Lopez Obrador speaks during a news conference, at the National Palace in Mexico City, Mexico September 30, 2022. "Relations between the government of the United States and Venezuela need to be restored," Lopez Obrador told a news conference. Since the policy was enacted, several thousand Venezuelans who entered the United States illegally have been returned to Mexico. Lopez Obrador urged the United States to expand the Venezuela humanitarian access permits beyond 24,000 people. "They're not enough," Lopez Obrador said.

☆ Russian Nationals Arrested Over Alleged Scheme to Evade U.S. Sanctions
▼ + stars: | 2022-10-19 | by ( Richard Vanderford | ) www.wsj.com time to read: +3 min

Two Russian nationals were arrested for allegedly using their Germany-based company as a front to move black market oil and sensitive equipment with military uses in defiance of U.S. sanctions. Three other Russian nationals and two Venezuelans were also charged in what prosecutors described as a global scheme to evade U.S. sanctions and export controls. The U.S. Treasury Department on Wednesday unveiled sanctions against Mr. Orekhov, NDA and Opus Energy Trading LLC, another Orekhov-linked company. The alleged oil buyers included a Russian aluminum company controlled by a sanctioned oligarch and a Chinese energy conglomerate, neither of which were named by prosecutors. Some of the same electronic components obtained through the scheme were found in Russian weapons platforms seized in Ukraine, prosecutors said.

☆ Automakers need more time to meet U.S. minerals requirements for EVs -execs
▼ + stars: | 2022-10-19 | by ( Ben Klayman | ) www.reuters.com time to read: +5 min

"We believe it's unfair," he added, pointing out that none of the South Korean automaker's EVs qualify for the credit. Munoz said U.S. legislators should offer companies investing in the United States some type of waiver or a longer transition period. Automakers are trying to figure out how their vehicles will meet the new law's requirements to qualify for EV tax credits. Details of the act are still being ironed out and the U.S. Treasury is currently taking comments on how to implement the rules around the EV tax credits. "We're pretty well positioned," he said at the Reuters conference, citing the Detroit automaker's four U.S. battery plants the company has announced and its raw materials supply deals.

The Justice Department in its petition to the Atlanta-based 11th U.S. Circuit Court of Appeals said U.S. District Judge Aileen Cannon exceeded her authority when she named the special master to vet the more than 11,000 seized documents. The Justice Department is investigating whether Trump broke the law by taking government records to his Florida estate after leaving office in January 2021. Now, the Justice Department is appealing the rest of Cannon's order. Prosecutors said in a court filing this week they had turned over the bulk of the seized records for Trump's attorneys to review.

Register now for FREE unlimited access to Reuters.com RegisterIf the Fed follows through with two more 75-basis-point hikes this year, its policy rate would end 2022 in a range of 4.50%-4.75%. It is very possible that the data would come in a way that forces the (Federal Open Market) Committee higher on the policy rate. The possibility of a fifth larger-than-usual increase in December is "a little more frontloading than what I've said in the past," he added. Though some investors and economists expect the Fed will need to lift its policy rate even further, to 5% or higher, Bullard said, "I wouldn't predict that now ... Volatility in markets is to be expected when rates rise, he said, but may settle after a period of adjustment.

In a Reuters interview, Bullard said U.S. Consumer Price Index data for September released this week showed inflation had become "pernicious" and difficult to arrest, and therefore "it makes sense that we're still moving quickly." It is very possible that the data would come in a way that forces the committee higher on the policy rate. But it's also possible that you get a good disinflationary dynamic going and in that situation the committee could keep the policy rate and hold it steady," Bullard said a day after the CPI report for September showed inflation continued above 8%. read moreThe possibility of a fifth larger-than-usual increase in December is "a little more front loading than what I've said in the past," Bullard said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Howard SchneiderOur Standards: The Thomson Reuters Trust Principles.

JPMorgan reported a 17% drop in third-quarter profit to $9.74 billion, although that was less than had been feared. Banks set aside more money in preparation for a hit from a potential economic slowdown. While investment banking and investment management were impacted by the market environment, he said fixed income and equity divisions "navigated challenging markets well." Morgan Stanley's earnings showed that investment banking revenue more than halved to $1.23 billion with declines across the bank's advisory, equity and fixed income segments. Corporations' interest in mergers, acquisitions and initial public offerings dried up, particularly hitting banks strong in investment banking.

REUTERS/Andrew KellyOct 14 (Reuters) - Profits slid at Wall Street's biggest banks in the third quarter as they braced for a weaker economy while investment banking was hit hard, but investors saw a silver lining with some banks beating estimates. Banks set aside more money in preparation for a hit from a potential economic slowdown. Marinac said investors would want to see banks build reserves at this point in the economic cycle. Morgan Stanley's earnings showed that investment banking revenue more than halved to $1.3 billion with declines across the bank's advisory, equity and fixed income segments. Corporations' interest in mergers, acquisitions and initial public offerings dried up, particularly hitting banks strong in investment banking.

☆ Don’t let the volatility 'scare you out of stocks’: Market veteran reveals what to buy right now
▼ + stars: | 2022-10-14 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

But market veteran Nancy Tengler is unequivocal that investors should strap in for the long term. Her firm uses what's known as a relative dividend yield (RDY) strategy to judge the value of a stock. A high relative dividend yield is a buy signal if the dividend level is expected to be sustained and increased over time. "If you can get 17% annualized dividend growth, as Home Depot has produced over the last five years, that's a pretty good hedge against inflation. The company has a dividend yield of about 4% and an annualized dividend growth of 17% over the past five years, according to Tengler.

☆ U.S. may extend humanitarian migrant access beyond Venezuelans, Mexico says
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Oct 14 (Reuters) - The United States has told Mexico it will consider granting humanitarian access for migrants of other nationalities following an accord this week for Venezuelans, Mexican Foreign Minister Marcelo Ebrard said on Friday. Under a plan announced Wednesday, Washington will grant up to 24,000 Venezuelans humanitarian access to the United States by air, while enabling U.S. officials to expel to Mexico those caught trying to cross illegally by land. "For now it's Venezuelans, but they told us they would consider other nationalities in due course," Ebrard told reporters. He added Mexico had in recent months also seen a jump in migrant arrivals from Colombia, Brazil and Ecuador. The Biden administration also considered including Cubans and Nicaraguans in the latest border management plan, two U.S. officials told Reuters this week.

☆ Bank of America CEO says U.S. consumers still in good financial health
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: 1 min

NEW YORK, Oct 12 (Reuters) - Bank of America Corp (BAC.N) Chief Executive Officer Brian Moynihan said U.S. consumers are still in good financial health. "Right now, they're in very good shape," Moynihan told attendees at an Institute of International Finance conference in Washington. He cited high savings rates, strong credit quality, and a 10% increase in consumer spending so far in October. Register now for FREE unlimited access to Reuters.com RegisterReporting by Lananh Nguyen and Saeed Azhar Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Fact Check-Long, unrelated video provides no evidence Florida Governor Ron DeSantis said Biden should be impeached
▼ + stars: | 2022-10-12 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

There is no evidence that Florida Governor Ron DeSantis said U.S. President Joe Biden should be impeached, contrary to a video posted on Facebook. Its description reads: "’Biden Should Be Impeached’: Congress ERUPTS As DeSantis HUMILIATES Hunter Biden to his Face.” Another version was shared on YouTube (here). The first clip shows DeSantis speaking on Sept. 16, 2022 about migrants in Martha’s Vineyard. Neither clip shows DeSantis calling for Biden to be impeached and Reuters did not find any evidence that he said this. There is no evidence that Florida Governor Ron DeSantis said U.S. President Joe Biden should be impeached.

WASHINGTON, Oct 6 (Reuters) - A production cut by the OPEC+ oil cartel is reigniting U.S. voters' No. The move late in the campaign season unsettled a growing consensus that Biden's Democrats could stem their losses in the U.S. House of Representatives -- though they are still expected to lose their narrow majority. Republicans have hammered Democrats all year over inflation, which has reached four-decade highs as gasoline prices surged with Russia's March invasion of Ukraine. Moscow is also a member of OPEC+ and played a role in the cartel's decision this week to cut output. Forecasters do not expect gasoline prices to surge back to summertime highs.

Hurricane Ian was set to produce significant damage to much of Florida's citrus crop as it tore through the central-southwest part of the state, threatening to send the price of orange juice higher. November orange juice futures contracts were trading as high as $1.92 per pound Wednesday before falling back to $186.55. "The amount of loss is going to be pretty significant," Scoville said. Depending on the season, more than 90% of America’s orange juice is made from Florida-grown oranges, according to state data. According to the Agriculture Department, cold storage stocks of orange juice were at lows not seen since at least 2019 heading into August.

Senator Joe Manchin's bill to speed energy permitting as a handout to fossil fuel companies, but clean energy advocates said the bill's failure would hinder the rapid expansion renewable power needs to combat climate change. Democratic Majority Leader Chuck Schumer pulled Manchin's bill from temporary government funding legislation on Tuesday after it did not gain enough support. Clean energy backers said the permitting provision could still be attached to other bills later this year that must be passed, such as a big appropriations legislation. Jesse Jenkins, a clean energy expert at Princeton University, tweeted on Tuesday that the permitting bill had been "a big mixed back for climate & the environment." "We still need to build new clean energy & transmission at unprecedented pace!"

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