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☆ U.S. issues guidelines on defending Philippines from South China Sea attack
▼ + stars: | 2023-05-04 | by ( Karen Lema | ) www.reuters.com time to read: +3 min

The guidelines said the bilateral treaty commitments would be invoked if either is attacked specifically in the South China Sea and also if coast guard vessels were the target. 'WARNING' TO CHINAThe South China Sea, a waterway vital to global trade, has become a major flashpoint in the increasingly testy relationship between China and the United States. China's foreign ministry on Thursday said it opposed the use of bilateral defence treaties to interfere in the South China Sea, which "should not be a hunting ground for external forces". The guidelines were released during visit to Washington this week by Marcos, which included talks with counterpart Joe Biden. Marcos also met Defense Secretary Lloyd Austin, who told him "we will always have your back, in the South China Sea or elsewhere in the region."

☆ Der Spiegel cartoon of India reopens old wounds in world's new most populous country
▼ + stars: | 2023-05-04 | by ( Rhea Mogul | ) edition.cnn.com time to read: +9 min

The illustration, published last month in German news magazine Der Spiegel, shows a throng of jubilant Indians on an old and overcrowded locomotive – many standing on the roof – as it overtakes a sleek Chinese bullet train. But more than three quarters of a century later, critics of the Der Spiegel cartoon say it is unfair to view India through the lens of poverty. CNN has reached out to Der Spiegel for comment. Sankhadeep Banerjee/NurPhoto/Getty Images‘Suck up to China’The Der Spiegel cartoon “plays with very old fashioned clichés,” Germany’s ambassador to India, Philipp Ackermann, told Indian news agency ANI. “Der Spiegel caricaturing India in this manner has no resemblance to reality,” Gupta, the senior government adviser wrote on Twitter.

☆ A millennial business owner who says TikTok helped him generate $100,000 in sales last year explains why he's taking steps to pivot to YouTube as a backup — but avoiding Instagram and Facebook
▼ + stars: | 2023-05-04 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

He says a US ban of TikTok could crush his business, but he doesn't want to pivot to Instagram. The majority of his customers find him through TikTok, Spangler said, where he has over 237,000 followers across two accounts. "The immediate impact of a TikTok ban would be a loss of my primary income source." In April, Montana legislators voted in favor of a bill that would ban TikTok within state lines. But ideally, Spangler said, TikTok will avoid a ban and he won't have to rely too much on a pivot to YouTube.

☆ Tesla raises car prices globally, with the biggest increase in China
▼ + stars: | 2023-05-03 | by ( Laura He | ) edition.cnn.com time to read: +3 min

The Model Y and Model 3 now starts at 263,900 yuan ($38,179) and 231,900 yuan ($33,550) respectively. Tesla (TSLA) has also hiked the prices of the Model 3 and Model Y by about $222 in Canada and $269 in Japan, respectively. Late last month, Tesla raised the prices of its higher-end vehicles: Model S and Model X by $2,500 in the United States. The recent round of price adjustments reversed a series of significant price cuts by Tesla that were aimed at boosting demand. But analysts said the recent price increases had the same purpose of stoking consumer demand.

☆ Biden to reassure Philippines' Marcos as China tensions flare
▼ + stars: | 2023-05-01 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +5 min

[1/2] U.S. President Joe Biden listens during the annual White House Correspondents Association Dinner in Washington, U.S., April 29, 2023. Marcos, who became president last year, has sought warm relations with both the United States and China, who are vying for influence in the Asia-Pacific region. "Some of the steps that China have taken have concerned (Marcos), probably even surprised him," said one senior Biden administration official. Experts say the United States considers the Philippines a potential location for rockets, missiles and artillery systems to counter a Chinese amphibious assault. "We're standing shoulder to shoulder in the South China Sea, where our alignment has never been stronger," said one U.S. official.

☆ Spain, Portugal swelter as April temperature records broken
▼ + stars: | 2023-04-28 | by ( Mariano Valladolid | ) www.reuters.com time to read: +2 min

[1/5] A field of grass is seen cracked by the drought during scorching summer temperatures in spring in Ronda, Spain April 27, 2023. REUTERS/Jon NazcaCORDOBA, Spain, April 28 (Reuters) - Mainland Spain and Portugal have broken temperature records for April, as the Iberian neighbours swelter in an early-season heatwave that has exacerbated a long drought in some regions. Spain's absolute April record remains the 40.2 C reached in 2013 on Gran Canaria in the Canary Islands. In neighbouring Portugal, the temperature in the central town of Mora reached 36.9 C, breaking the record of 36.0 C set in April 1945, its weather agency said. Temperatures started dropping on Friday in Portugal but the heatwave persisted in parts of Spain.

☆ In New York, Canada's Trudeau takes veiled swipe at Trump
▼ + stars: | 2023-04-28 | by ( Doina Chiacu | ) www.reuters.com time to read: +2 min

WASHINGTON, April 28 (Reuters) - Canadian Prime Minister Justin Trudeau said on Friday he was worried about the future of American democracy, taking a veiled swipe at former U.S. President Donald Trump during a visit to New York. "You guys are the greatest democracy in the world," Trudeau said at the Council on Foreign Relations in New York. Canada's Liberal prime minister did not refer to Trump by name but had harsh criticism for policies and practices closely identified with the former president, from isolationism to stoking voter anger. In 2021, Trudeau blamed Trump as having incited his supporters to wage the violent Jan. 6 attack on the U.S. Capitol. Trudeau acknowledged that people were left behind in the economic boom that followed global free trade pacts.

ORLANDO, Florida, April 28 (Reuters) - With the U.S. debt ceiling crisis set to reach boiling point between June and August, it already promises to be a long hot summer for financial markets. - and inflation is high, while history shows the U.S. Congress certainly has the ability to push debt ceiling negotiations to the brink. "Markets are fundamentally intolerant of tightening liquidity conditions, and you could see this confluence of tightening liquidity where the debt ceiling and YCC come together," said Alex Lennard, investment director at Ruffer LLP. Default fears could suck more money out of bills and into safer parts of the money market universe like the Fed's RRP, exacerbating broader market liquidity conditions. Related columns:- 'Peak Fed' aggravates U.S. debt ceiling strains- Inequality and 'deposit glut' sowed bank instabilityBy Jamie McGeever; Editing by Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

☆ Inside LinkedIn's new push to use AI tools to amplify — not replace — creators' voices
▼ + stars: | 2023-04-28 | by ( Reed Alexander | ) www.businessinsider.com time to read: +8 min

LinkedIn sees potential for AI to amplify — not replace — creators' voices. Firmly of the view that artificial intelligence technology can augment and amplify those users' voices — not replace them — LinkedIn is eyeing opportunities in the burgeoning space. LinkedIn's collaborative articles begin with a thread generated with the help of AI, and then invite select users to contribute their perspective. Enter collaborative articles, which invited the several dozen teachers to offer up ideas like exhibiting "vulnerability" in the classroom. Think of these seminars like LinkedIn's version of Master Classes on topics like generative AI, machine learning with Python, and AI accountability.

☆ As US and Philippine defense ties grow closer, China drives wedge over Taiwan issue
▼ + stars: | 2023-04-27 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +10 min

But the election of his successor, Ferdinand Marcos Jr, last year has returned relations to a more even keel, in part because Manila has become wary of a more assertive China. Last year the US granted $100 million to boost the Southeast Asian country’s defense capabilities and military modernization. Heydarian added that China has to rethink its strategy towards the Philippines, as the Marcos Jr administration is openly more aligned with the US. China remains one of the top trade partners of the Philippines, while Marcos Jr also continues to negotiate energy and agriculture investments from Beijing. Some worry Marcos Jr might be giving too much access to the US, especially when it comes to bases and facilities close to Taiwan, Heydarian said.

☆ Recession risk and inflation fears creating 'a huge amount of confusion' for investors, strategist says
▼ + stars: | 2023-04-27 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Market participants are contending with the risk of persistently higher inflation and a bleak economic outlook, which strategists say is stoking a heady mix of confusion and pessimism. Bob Parker, senior advisor at International Capital Markets Association, said investor confusion appeared to be emerging as a big theme in financial markets. "If you look at the surveys of investor positioning and investor thinking, there is a huge amount of confusion at the moment," Parker told CNBC's "Squawk Box Europe" on Wednesday. To what extent is the U.S. economy and for that matter, the European economy slowing down? "And so, given those uncertainties, I think investors are reducing risk at the moment and booking, frankly, what are decent profits year-to-date."

Companies First Republic Bank FollowApril 26 (Reuters) - Oil rose on Wednesday after plunging more than 2% in the previous session as reports of falling U.S. crude oil and fuel inventories refocused investors on robust demand in the world's top oil consumer. Brent crude climbed by 30 cents, or 0.4%, to $81.07 a barrel by 0358 GMT. U.S. crude oil stocks fell by about 6.1 million barrels in the week ended April 21, according to market sources citing American Petroleum Institute (API) figures on Tuesday. Analysts had expected crude inventories to fall by about 1.5 million barrels. Gasoline inventories fell 1.9 million barrels last week, while distillate inventories rose by 1.7 million barrels, the sources said the API reported.

☆ Biden Is Desperately Seeking Trump
▼ + stars: | 2023-04-26 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week's best and worst from Kim Strassel, Mene Ukueberuwa, Collin Levy and Dan Henninger. Images: AP/AFP/Getty Images/Zuma Press Composite: Mark KellyPresident Biden’s re-election announcement video on Tuesday was unusual, if not surprising. The early scenes are less about Mr. Biden’s record, and the sunny uplands of second-term hope, than they are about Donald Trump: images of the Jan. 6 riot, Trump signs, and a reference to “MAGA extremists.”The video betrays a little too obviously what Democrats and the press know but don’t like to admit in public: Mr. Biden desperately wants a rematch with Donald Trump. He doesn’t want to run on his own record. He wants to run one more time by stoking fear about what might happen if the former President returns to the Oval Office.

Companies First Republic Bank FollowApril 26 (Reuters) - Oil prices rose in early Asian trade on Wednesday after a U.S. trade group reported a significant draw in crude oil stocks ahead of the government's data release. Brent crude rose by 16 cents, or 0.2%, to $80.93 a barrel by 0006 GMT. U.S. West Texas Intermediate crude rose 25 cents, or 0.3%, to $77.32 a barrel. Analysts had expected crude inventories to fall by about 1.5 million barrels. Crude oil settled more than 2% lower on Tuesday after U.S. consumer confidence dropped to a nine-month low in April, feeding worries about a recession.

☆ Oil prices rise on U.S. crude, fuel stock draws
▼ + stars: | 2023-04-26 | by ( ) www.cnbc.com time to read: +1 min

Oil prices rose in early Asian trade on Wednesday after a U.S. trade group reported a significant draw in crude oil stocks ahead of the government's data release. Brent crude rose by 16 cents, or 0.2%, to $80.93 a barrel by 0006 GMT. U.S. West Texas Intermediate crude rose 25 cents, or 0.3%, to $77.32 a barrel. Analysts had expected crude inventories to fall by about 1.5 million barrels. Crude oil settled more than 2% lower on Tuesday after U.S. consumer confidence dropped to a nine-month low in April, feeding worries about a recession.

☆ What is de-dollarization? Here's everything you need to know about rival countries' efforts to dethrone the greenback
▼ + stars: | 2023-04-26 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

The US dollar has dominated global trade and been the leading reserve currency for nearly 80 years. But rival countries – including China and Russia – are trying to change that. But a growing list of countries – including Brazil, China, and Russia – are trying to unseat the greenback. Rival countries China and Russia are spearheading the effort to wean the world off the buck. "There is a lot of inertia in reserve currency status," a team of strategists led by Kamakshya Trivedi said.

☆ AOC celebrates as Tucker Carlson is ousted from Fox News: 'Couldn't have happened to a better guy'
▼ + stars: | 2023-04-25 | by ( Natalie Musumeci | Madison Hall | ) www.businessinsider.com time to read: +2 min

Rep. Alexandria Ocasio-Cortez celebrated Tucker Carlson's bombshell ousting at Fox News. "Couldn't have happened to a better guy," Ocasio-Cortez said in a video posted to her Instagram. Still, Ocasio-Cortez said she is wary that Carlson will bounce back. Fox News announced it had parted ways with Carlson, the network's top host, on Monday. Several prominent right-wing personalities, such as Glenn Beck and Matt Walsh, voiced their displeasure and shock about Carlson's firing on Twitter on Monday.

☆ Oil dips 2% on economic woes and stronger dollar
▼ + stars: | 2023-04-25 | by ( ) www.cnbc.com time to read: +2 min

An oil pumpjack pulls oil from the Permian Basin oil field on March 14, 2022 in Odessa, Texas. Oil dropped 2% on Tuesday after two sessions of gains as deepening concerns of an economic slowdown and a stronger dollar outweighed hopes of higher Chinese demand and lower U.S. crude stocks. U.S. West Texas Intermediate crude dropped $1.69, or 2.2%, to settle at $77.07. A stronger dollar pressures oil demand by making the commodity more expensive for buyers holding other currencies. Gold prices also were flat as the dollar strengthened, while U.S. stocks fell as weak earnings fanned economic fears.

☆ Philippines' Marcos to seek specifics from Biden on US defence commitment
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +2 min

Marcos will hold talks with Biden in Washington this weekend, a meeting the White House said would reaffirm its "ironclad commitments to the defence of the Philippines". "It (the treaty) needs to adjust because of the changes in the situation we are facing in the South China Sea, Taiwan, North Korea," Marcos said in a radio interview. China, however, says the pact with the United States is stoking the fire of regional tensions. Marcos on Monday said he and Biden should discuss what exactly their alliance entails and how to manage tension with China. Reporting by Neil Jerome Morales; Writing by Martin Petty; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

☆ Watch Fox News tell its viewers that the network has 'mutually agreed to part ways' with star Tucker Carlson
▼ + stars: | 2023-04-24 | by ( Edith Honan | ) www.businessinsider.com time to read: +2 min

"We have some news from within our Fox family," Fox host Harris Faulker told viewers. "Fox News Media and Tucker Carlson have mutually agreed to part ways." "We want to thank Tucker Carlson for his service to the network, as a host and, prior to that, as a long-term contributor," Faulker said. "Tucker Carlson Tonight" debuted in 2016, and the show made Carlson one of Fox's top-rated hosts. In a statement, Fox said: "Fox News Media and Tucker Carlson have agreed to part ways.

☆ Futures flat on mixed earnings, Fed policy uncertainty
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures off: Dow 0.02%, S&P 0.02%, Nasdaq 0.01%April 21 (Reuters) - U.S. stock index futures were little changed on Friday as investors digested a mixed bag of earnings reports, while awaiting more data for clues on the outlook for interest rates and the economy. Investors will focus on S&P Global's flash purchasing managers' indexes (PMI) at 9:45 a.m. Meanwhile, a slate of Fed speakers this week supported the view of another 25 basis point rate hike by the U.S. central bank when it meets next week. ET, Dow e-minis were down 8 points, or 0.02%, S&P 500 e-minis were down 0.75 points, or 0.02%, and Nasdaq 100 e-minis were down 1.5 points, or 0.01%. Reporting by Sruthi Shankar in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Biden to meet Philippine President at White House on May 1
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +2 min

[1/2] Philippine President Ferdinand Marcos Jr. delivers a speech as part of a joint press statement with Czech Prime Minister Petr Fiala, at Malacanang Palace, in Manila, Philippines, April 17, 2023. Ezra Acayan/Pool via REUTERSSummary Treaty allies to reaffirm partnership - Philippines presidential officeTwo leaders to discuss economic cooperation - White HouseMarcos' second trip to U.S. since SeptemberApril 20 (Reuters) - U.S. President Joe Biden will meet his Philippine counterpart Ferdinand Marcos Jr at the White House on May 1 to discuss deepening economic cooperation and the Indo-Pacific region, Manila and Washington said on Friday. The two leaders will also discuss further economic cooperation, White House spokesperson Karine Jean-Pierre said in a statement. "During the visit, President Biden will reaffirm the United States' ironclad commitment to the defense of the Philippines, and the leaders will discuss efforts to strengthen the longstanding U.S.-Philippines alliance," the statement said. Reporting by Eric Beech in Washington and Costas Pitas in Los AngelesOur Standards: The Thomson Reuters Trust Principles.

☆ Private school vouchers are shaping up to be huge part of the 2024 election as GOP candidates work to 'one up' each other on the issue
▼ + stars: | 2023-04-15 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +12 min

The GOP movement toward "school choice" is gaining momentum in many states. GOP presidential candidates have promised to send more public money to private schools. While battles over how classrooms should teach about race and LGBTQ topics have fired up the GOP base, the expansion of school vouchers is taking hold in red states. Spar said vouchers amounted to "using taxpayer money to go to private schools and home schools with practically no accountability." As Congress then turned its attention toward COVID pandemic relief, at least one bill that didn't pass had funding for private schools and homeschooling.

☆ Tesla cuts prices of Model 3, Model Y vehicles in Singapore
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +1 min

SINGAPORE, April 14 (Reuters) - Tesla Inc (TSLA.O) has cut prices of its Model 3 and Model Y vehicles in Singapore between 4.3% and 5%, its website showed on Friday. Tesla cut prices on Real-Wheel Drive version of both Model 3 and Model Y by S$4,000 ($3,020), and Dual Motor All-Wheel Drive version of the two models by S$5,000, the website showed. Last week, Tesla announced its fifth vehicle price reduction this year in the U.S. market, as Washington prepares to introduce tougher standards that will limit EV tax credits. Tesla in January had offered limited-term discounts to buyers in Singapore who agreed to purchase existing inventory of the Model 3 or Model Y, but it did not make a general price cut at the time like it did in South Korea, Japan and Australia. ($1 = 1.3244 Singapore dollars)Reporting by Chen Lin Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ Oil climbs on tightening supply; IEA demand outlook awaited
▼ + stars: | 2023-04-14 | by ( ) www.cnbc.com time to read: +3 min

An oil pumpjack in the Inglewood Oil Field, seen from the Kenneth Hahn State Recreation Area, on July 13, 2022, in Los Angeles, California. Oil prices rose on Friday on signs of lower Russian output and tighter supplies, with the market looking ahead to the International Energy Agency's monthly report later in the day to clarify the global demand outlook. The possibility that the agency might downgrade the global demand outlook over faltering macroeconomic growth is helping to cap prices. "It looks like the rally in crude prices has finally hit a wall," OANDA analyst Edward Moya said in a note. Oil prices are expected to record an upward trend but the increments are expected to be capped at $90 a barrel, said CMC Markets analyst Leon Li.

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