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[1/2] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 1, 2023. The Pentagon said it was aware of reports regarding attacks on an American warship and commercial vessels in the Red Sea on Sunday, while Yemen's Houthi group claimed drone and missile attacks on two Israeli vessels in the area. Such worries flared after Hamas’ Oct. 7 attack into southern Israel but subsided in recent weeks. Quincy Krosby, chief global strategist at LPL Financial, said a widening conflict could push some investors to take profits on the recent rally in stocks. Signs of an intensifying Middle East conflict could also boost oil prices, which have slumped in recent weeks.

Persons: Brendan McDermid, Yemen's, Quincy Krosby, ”, “, Phil Orlando, Federated Hermes, Santa Claus, Orlando, I'm, Krystal Hu, Ira Iosebashvili, Chizu Organizations: New York Stock Exchange, REUTERS, Hamas, Pentagon, Reuters, LPL, U.S ., Federated, West Texas, Thomson Locations: New York City, U.S, American, Israel, United States, Iraq, Iran, Santa

The documents showed that the government also labeled as part of its climate change efforts items as disparate as Navy security operations and distributing fortified milk among the rural poor. Of this, Pemex spent 5.6 billion pesos on climate change and 1.3 billion pesos on the energy transition in the same period, the public accounts show. "Mexico started really strong," said Maria Jose de Villafranca, the lead researcher for Mexico at Climate Action Tracker. The government did not make officials available to discuss its climate change plans. Mexico has not released information about its strategy, which has been criticized by climate change experts as non-compliant with the Paris Agreement.

Persons: Gustavo Graf, Andres Manuel Lopez Obrador, Lopez Obrador, Lopez Obrador's, Pemex, Victor Gomez, Gomez, Maria Jose de Villafranca, There's, Jason DeVito, Stefanie Eschenbacher, Simon Jessop, Dave Graham, Claudia Parsons Organizations: REUTERS, MEXICO CITY, Reuters, United, CFE, United Nations, Navy, Federated Hermes, Thomson Locations: El Bosque, Mexico, MEXICO, DUBAI, United States, Paris, United Nations, Dubai, CFE, Mexico City

REUTERS/Jonathan Ernst/File Photo Acquire Licensing RightsWASHINGTON, Nov 29 (Reuters) - U.S. budget wrangling could further delay funding approval for new agreements with Pacific island nations meant to counter Chinese influence, creating an opportunity for Beijing in the strategically vital region, congressional and other sources say. But congressional sources say this looks impossible as lawmakers argue over spending priorities, raising concerns that a further delay could create an opening for China, which has been wooing financially strapped Pacific economies. "It's feeling pretty dead in the NDAA context," the source said, adding that focus had turned to finding other legislation to secure the COFA funding. "It is really incomprehensible given the amount we're talking about ... why Congress cannot get its act together," Yun said. "What we risk is China getting in where we really don't want them – in places like Palau, RMI, FSM.

Persons: Mike Pompeo, Jonathan Ernst, Biden, Mike Johnson's, Joseph Yun, Yun, David Brunnstrom, Michael Martina, Patricia Zengerle, Don Durfee, Daniel Wallis Organizations: U.S, Pohnpei International, REUTERS, Rights, Federated, Marshall, RMI, Washington, Free Association, National Defense, Reuters, Republicans, Natural Resources, Foreign Affairs, New Republican, Biden, State Department, White House National Security Council, Thomson Locations: Pohnpei, Kolonia, States, Micronesia, Pacific, Beijing, Federated States, Palau, China, Ukraine, U.S, Hawaii, Philippines, Washington

☆ Berkshire Hathaway vice chairman Charlie Munger dies at 99
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +12 min

Nov 28 (Reuters) - Charlie Munger, the longtime vice chairman and second-in-command to Warren Buffett at Berkshire Hathaway (BRKa.N), died on Tuesday morning at a California hospital. For stock-pickers like us to lose Charlie Munger, would be like if you’re a basketball fan and you lose Bill Russell. "I wouldn't think Berkshire will look much different, apart from Buffett no longer being able to share ideas with Munger. CATHERINE SEIFERT, VICE-PRESIDENT, CFRA RESEARCH, NEW YORK“Berkshire Hathaway shareholders are not going to be directly or negatively impacted from the passing of Charlie Munger. Therewass already a transition plan in place and there's a transition plan in place when Warren Buffett passes away.

Persons: Charlie Munger, Warren Buffett, Charlie, WHITNEY TILSON, BRIAN MOYNIHAN, Charlie Mungerwass, ” BURNS MCKINNEY, Bill Russell, ”, Berkshire Hathaway, ” PHIL ORLANDO, FEDERATED HERMES, BILL, Buffett, Munger, PHILLIP, —, STEVE SOSNICK, “, ” WIN MURRAY, DIAMOND, MARY JO, BILL SMEAD, Warren, ” “ Buffett, Todd Combs, Ted Weschler, ” PAUL LOUNTZIS, Greg Abel, I've, you'll, STEPHEN DODSON, hewass, ” PAUL NOLTE, FOR MURPHY, Warren Buffet, they've, QUINCY KROSBY, RICK MECKLER, CHERRY, NEW VERNON, Hewass, obviouslywass, DOUG KASS, ” THOMAS RUSSO, GARDNER RUSSO, QUINN, CATHERINE SEIFERT, he's, ” ANTHONY SAGLIMBENE, THOMAS HAYES Organizations: Berkshire Hathaway, COOK, APPLE, WHO, KASE, OF, FEDERATED, Berkshire, ” WIN, THE BRETTON, SAN, SYLVEST, NEW, Buffett, GREAT, Global Finance, Markets, Thomson Locations: California, Munger, Berkshire, American, DALLAS , TEXAS, GLENVIEW, CALIFORNIA, CONNECTICUT, DIAMOND HILL, COLUMBUS , OHIO, PHOENIX, ” “ Berkshire, , PENNSYLVANIA, ELMHURST, IL, CHARLOTTE, NC, CHERRY LANE, NEW JERSEY, LANCASTER , PENNSYLVANIA, Munger . Berkshire, TROY , MICHIGAN, GREAT HILL

☆ Palantir Wins Major U.K. Health Contract Despite Criticism
▼ + stars: | 2023-11-21 | by ( Adam Satariano | ) www.nytimes.com time to read: +1 min

Palantir, the software company founded by billionaire Peter Thiel, on Tuesday won a major contract in Britain to help overhaul the technology system of the country’s state-run health service, overcoming concerns about a firm known for its military-related work in the United States securing such a sensitive role involving patient data. The National Health Service said Palantir had been awarded the seven-year contract, worth 330 million pounds, or about $415 million, to build a new platform that integrates data from across the N.H.S. Called the Federated Data Platform, the system is intended to make it easier to share patient information and analyze wider health trends across the sprawling health service. Palantir was a controversial choice, as some doctors, civil society groups and members of Parliament had raised concerns about giving the company responsibility for building what could eventually become one of the world’s largest repositories of health data. Palantir was awarded the contract in partnership with Accenture, the business consulting firm, PwC, NECS and Carnall Farrar.

Persons: Peter Thiel, Palantir, Thiel, Donald J, Trump’s, Carnall Farrar Organizations: Tuesday, National Health Service, Federated, Accenture Locations: Britain, United States, England, Wales

☆ Stocks are entering the next leg of the bull market and the S&P 500 can hit a record-high of 5,000 by end of 2024, veteran strategist says
▼ + stars: | 2023-11-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The S&P 500 could be on track to notch a new record next year, according to market vet Phil Orlando. AdvertisementThe bull market in stocks has more room to run, and it could take the S&P 500 to a new high by the end of next year, one market veteran says. Orlando sees the S&P 500 surging to 5,000 by the end of 2024, representing an upside of around 10% from the benchmark index's current levels. Higher bond yields influence other interest rates in the economy, which have also helped tighten financial conditions. The S&P 500 has climbed 7% over the past month, trading around 4,535 on Monday.

Persons: Phil Orlando, —, Orlando, They've Organizations: Federated Hermes, Service, Bloomberg, Fed, Treasury

☆ Look to small caps for alpha opportunities, says Federated Kaufmann's Stephen Denichilo
▼ + stars: | 2023-11-17 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLook to small caps for alpha opportunities, says Federated Kaufmann's Stephen DenichiloStephen Denichilo, Federated Kaufmann small cap fund, joins 'Power Lunch' to discuss opportunity finds in the small cap sector.

Persons: Stephen Denichilo Stephen Denichilo, Kaufmann

☆ 3 ways organizations can more effectively manage their data
▼ + stars: | 2023-11-13 | by ( Sponsor Post | Created Capital One With Insider Studios | ) www.businessinsider.com time to read: +5 min

By Awah Teh, vice president of Data Governance & Privacy Engineering, Capital OneOver the last decade, companies have invested heavily to collect and store zettabytes of data. Keep data well-governed with centralized rules and processesGovernance is, at its core, the ability for an organization to derive the highest level of trust from its data. Ensure well-governed data runs through unified platformsA standardized governance structure paves the way for data discoverability and accessibility. Cultivate a well-managed data cultureBoth business and data teams should ensure that strong data management practices are followed across the organization. Seizing on that potential won't be possible without high volumes of high-quality data, and it all starts with robust, scalable data management practices.

Persons: Awah Teh, we've, It's Organizations: Data, Privacy Engineering, Employees, Business, Capital, Insider Studios

☆ Federated Hermes’ Phil Orlando expects a Fed pause then a cut in late 2024
▼ + stars: | 2023-11-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFederated Hermes’ Phil Orlando expects a Fed pause then a cut in late 2024Federated Hermes’ Phil Orlando and Dynasty Financial’s Ron Insana, joins 'Power Lunch' to discuss their market outlook and the Fed.

Persons: Federated Hermes, Phil Orlando, Hermes, Ron Insana Organizations: Federated

☆ Watch CNBC’s full interview with Federated Hermes’ Phil Orlando and Dynasty Financial’s Ron Insana
▼ + stars: | 2023-11-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Federated Hermes’ Phil Orlando and Dynasty Financial’s Ron InsanaFederated Hermes’ Phil Orlando and Dynasty Financial’s Ron Insana, joins 'Power Lunch' to discuss their market outlook and the Fed.

Persons: Federated Hermes, Phil Orlando, Ron Insana, Hermes Organizations: Federated

Consumers continued to sour on the economic outlook in November while also growing more pessimistic about future inflation, according to the first estimate from the University of Michigan consumer sentiment survey. The index of consumer sentiment fell 5% to a reading of 60.4, down from 63.8 in October. “Ongoing wars in Gaza and Ukraine weighed on many consumers as well.”“Overall, lower-income consumers and younger consumers exhibited the strongest declines in sentiment,” Hsu added. Various surveys measuring the minds of consumers have found them to be worried about inflation and the economy in general. “Consumer sentiment continues to trend downward at a moderate pace as consumers attempt to juggle inflation and higher interest rates,” said Damian McIntyre, Portfolio manager and head of multi asset solutions at Federated Hermes.

Persons: ”, Joanne Hsu, ” Hsu, Joe Biden, Damian McIntyre, Gregory Daco, ” Daco, Goldman Sachs Organizations: University of Michigan, “, Federated Hermes, Federal Reserve, Index, Louis Federal Reserve Bank Locations: Gaza, Ukraine, Kentucky, Ohio

☆ Money market funds are yielding north of 5%. Here's when it may pay to look elsewhere
▼ + stars: | 2023-11-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Investors can't get enough of money market funds these days due to their attractive yields, which are north of 5%. When money market funds work Those who need easy access to cash could benefit from the money market funds' liquidity, which is one of the asset's biggest advantages, Benz said. However, unlike bank savings accounts, money market funds are not insured by the Federal Deposit Insurance Corporation. While money market funds may be yielding more than longer-term Treasurys or investment-grade bonds right now, that isn't necessarily always going to be the case. "Why would someone invest in a 5-year Treasury note when a money market fund is yielding higher?

Persons: Christine Benz, hasn't, Charles Schwab, Hermes, Peter Crane, Benz, Barry Glassman, Glassman, laddering, —, Jesse Pound Organizations: Morningstar, Crane Data, Fidelity, Data, Vanguard, Wealth, Federal Deposit Insurance Corporation, Benz, CNBC

☆ Duessel: The S&P 500 could actually reach 4,600 by the end of this year
▼ + stars: | 2023-10-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDuessel: The S&P 500 could actually reach 4,600 by the end of this yearLinda Duessel, Senior Equity Strategist at Federated Hermes, discusses the outlook for stocks into year-end.

Persons: Linda Duessel Organizations: Federated Hermes

☆ Here's how to invest with 5 of 6 key economic indicators signaling that a recession is on the horizon, according to the multi-asset solutions head at $700 billion Federated Hermes
▼ + stars: | 2023-10-25 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Growth will wilt under the pressure of perpetually high interest rates, Chiavarone said, though he added that rolling recessions across industries are more likely than a sudden, 2008-style downturn. Higher-for-longer interest rates are the biggest threat to the US economy, Chiavarone said. Goldman SachsEighteen months of tightening financial conditions will have a profound impact on the economy, Chiavarone said. The multi-asset solutions head is watching how corporations respond next year when they're forced to refinance debt at much higher rates. Since they have plenty of cash on hand, these companies aren't reliant on external financing and can avoid exposure to lofty interest rates.

Persons: Goldman Sachs, Steve Chiavarone, Hermes, Chiavarone, it's, they're Organizations: Federated Hermes, Treasury, Federated, Federal, Fed, Companies, Consumer, Vanguard Consumer, ETF, Healthcare, Utilities, Vanguard Utilities

The Republic of the Marshall Islands (RMI) is one of three sprawling but sparsely populated nations that have U.S. ties governed by so-called Compacts of Free Association (COFAs), under which Washington is responsible for their defense and provides economic assistance, while gaining exclusive military access to strategic swathes of ocean. Yun told Reuters he planned to sign the COFA deal with RMI Foreign Minister Jack Adding in Honolulu, Hawaii, at 2 p.m. local time (0000 GMT Tuesday). Analysts and former officials had blamed a delay in finalizing the Marshall Islands COFA on U.S. State Department lawyers wanting to control how new funds were spent and objecting to their being earmarked to address the nuclear legacy, fearing this could lay the U.S. open to more claims. A person familiar with the deal said all current federal programs, including education programs and the U.S. Reporting by David Brunnstrom and Michael Martina; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Louis Mapou, Hu'akavemeiliku Siaosi, Surangel Whipps, Kausea Natano, Joseph Yun, Biden, Yun, Jack, David Kabua, David Brunnstrom, Michael Martina, Sandra Maler Organizations: U.S ., Country, New, Tonga's, Tuvalu's, United, Reuters, The, Marshall, Free Association, Washington, Northern, RMI, RMI Foreign, U.S . Congress, . State Department, U.S, U.S . Postal Service, Thomson Locations: U.S, Federated States, Micronesia's, WASHINGTON, United States, Marshall, Pacific, The Republic, China, Northern Pacific, Palau, Micronesia, Washington, Honolulu , Hawaii, Kwajalein

The Republic of the Marshall Islands (RMI) is one of three sprawling but sparsely populated nations that have U.S. ties governed by so-called Compacts of Free Association (COFAs), under which Washington is responsible for their defense and provides economic assistance, while gaining exclusive military access to strategic swathes of ocean. Yun said he signed the agreement with RMI Foreign Minister Jack Ading in Honolulu, Hawaii, at a ceremony also attended by Marshallese President David Kabua. Analysts and former officials had blamed a delay in finalizing the Marshall Islands COFA on U.S. State Department lawyers wanting to control how new funds were spent and objecting to their being earmarked to address the nuclear legacy, fearing this could lay the U.S. open to more claims. A person familiar with the deal said all current federal programs, including education programs and the U.S. Reporting by David Brunnstrom and Michael Martina; Editing by Sandra Maler and Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Louis Mapou, Hu'akavemeiliku Siaosi, Surangel Whipps, Kausea Natano, Joseph Yun, Biden, Yun, Jack Ading, David Kabua, David Brunnstrom, Michael Martina, Sandra Maler, Raju Gopalakrishnan Organizations: U.S ., Country, New, Tonga's, Tuvalu's, United, Marshall, Reuters, The, Free Association, Washington, Northern, RMI, RMI Foreign, U.S, Congress, . State Department, U.S . Postal Service, U.S . Congress, Thomson Locations: U.S, Federated States, Micronesia's, WASHINGTON, United States, The Republic, China, Northern Pacific, Palau, Micronesia, Washington, Honolulu , Hawaii, Marshall, Kwajalein

☆ Cathie Wood says AI is highly deflationary and her top picks include Twilio and UiPath
▼ + stars: | 2023-10-12 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Ark Invest's Cathie Wood said Thursday that the artificial intelligence boom is an antidote to inflation and a big driver of productivity. "AI is going to lead to one of the biggest improvements in productivity … which is highly anti-inflationary," Wood said at CNBC's Financial Advisor Summit . Another area for AI opportunities is software, Wood said. Wood said she particularly values companies that know how to utilize proprietary data. So it has a lot of proprietary data to help marketers and salespeople understand the best way to target customers," Wood added.

Persons: Cathie Wood, Wood, Twilio Organizations: CNBC's Financial, Ark Invest, Meta

☆ These money market funds have yields that top 5%
▼ + stars: | 2023-10-11 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

With yields at around 5%, money market funds have been attracting investors in droves — yet not all funds are the same. Right now, prime funds yield an average 5.18%, while the average government fund's yield is 4.98%, per iMoneyNet. The weighted average maturity of retail prime money market funds is around 32 days, said Shelly Antoniewicz, deputy chief economist at the Investment Company Institute. Correction: A table in an earlier version of this report incorrectly described the listed funds as government money market funds. They are prime money market funds.

Persons: Dave Lafferty, Deborah Cunningham, Shelly Antoniewicz, Hermes, Cunningham, Crane, Peter Crane Organizations: Crane Data, Schwab Asset Management, Federated Hermes, Investment Company Institute . Retail, Federal Reserve, ICI, Government, Fed

☆ Two market strategists discuss the outlook for stocks in a higher rate environment
▼ + stars: | 2023-10-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTwo market strategists discuss the outlook for stocks in a higher rate environmentSteve Chiavarone, Equity Strategist at Federated Hermes, and Alex Morris, President & Chief Investment Officer of F/M Investments, discuss the road ahead for stocks.

Persons: Steve Chiavarone, Alex Morris Organizations: Federated Hermes, Chief, Investments

☆ US backs Pacific undersea internet cable amid China competition
▼ + stars: | 2023-09-28 | by ( Joe Brock | ) www.reuters.com time to read: +3 min

Workers install the 2Africa undersea cable on the beach in Amanzimtoti, South Africa, February 7, 2023. The Central Pacific Cable would connect American Samoa with Guam - two U.S. territories - and extend to up to 12 more Pacific islands, according to a document showing the cable route. Undersea internet cables typically take at least 3-5 years to be developed and installed. Tonga was cut off from global telecommunication networks for a month last year after a volcanic eruption and tsunami severed its only undersea cable. Washington intervened two years ago to block a Chinese company from building another subsea internet cable in the Pacific islands, Reuters reported at the time.

Persons: Rogan Ward, Paul McCann, John Hibbard, APTelecom, Hibbard, McCann, Joe Biden, Biden, Solomon, Joe Brock, Kirsty Needham Organizations: REUTERS, Pacific, Reuters, Central Pacific Cable, Futuna, Federated, World Bank, U.S . Trade, Development Agency, U.S, East Micronesia Cable, Thomson Locations: Amanzimtoti, South Africa, China, SINGAPORE, United States, American Samoa, Guam, U.S, Singapore, Papua New Guinea, Samoa, Tuvalu, Fiji, Nauru, Marshall Islands, Kiribati, Cook Islands, Wallis, Federated States, Micronesia, Australia, New Zealand, Washington, Tonga, Beijing, Japan, Sydney

☆ New Zealand farmers set for right-wing protest vote over climate change policies
▼ + stars: | 2023-09-27 | by ( Lucy Craymer | ) www.reuters.com time to read: +4 min

Warning that livelihoods are at stake, farmers are looking to conservative candidates who will unwind or delay these Labour policies. The two will travel the length of New Zealand over 10 days to encourage rural communities to vote for a change. Farmers in New Zealand have staged several protests in the past two years against growing regulations and agricultural emission schemes. New Zealand will also become the first country in the world to tax farmer for methane from animals from 2025. Wayne Langford, president of farmer lobby group Federated Farmers, said recent policies had been impractical, difficult to implement and caused significant frustrations.

Persons: Praveen Menon, Bryce McKenzie, Laurie Paterson, John Deere, ”, McKenzie, Chris Hipkins, James Shaw, Wayne Langford, it's, Langford, Lucy Craymer, Michael Perry Organizations: REUTERS, Rights, New Zealand Labour Party, Farmers, ACT, Taxpayers, Union, Curia, National, Labour, Green Party, Federated Farmers, New Zealand, Thomson Locations: Hawke's Bay , New Zealand, Southland, New Zealand, Rural, Zealanders, Netherlands, Zealand

Pacific islands leaders gathered Monday for the start of a two-day Washington summit. As part of the summit, the U.S. is formally establishing diplomatic relations with two South Pacific nations, the Cook Islands and Niue. Biden announced Monday that later this year he would deploy a U.S. Coast Guard vessel to the region to collaborate and train with Pacific islands nations. The administration pledged the U.S. would add $810 million in new aid for Pacific islands nations over the next decade, including $130 million on efforts to stymie the impacts of climate change. The leaders will also meet on Monday with Biden's special envoy on climate, John Kerry, for talks focused on climate change.

Persons: Joe Biden, Biden, ” Biden, “, Antony Blinken, Niue Premier Dalton Tagelagi, Mark Brown, Brown, ” Brown, John Kerry, Linda Thomas, Greenfield, Kerry, Samantha Power, Janet Yellen, Anthony Albanese Organizations: WASHINGTON, Monday, Pacific Islands Forum, South Pacific, Niue Premier, Cook Islands, U.S ., U.S, Corporation, NFL, U.S . Coast Guard, White House, State Department, U.S . Agency for International Development, USAID, Marshall, Federated, Australian Locations: Washington, United States, U.S, Cook Islands, Niue, Cook, Australia, Micronesia, Fiji, French Polynesia, Kiribati, Nauru, New Caledonia , New Zealand, Palau, Papua New Guinea, Republic, Marshall Islands, Samoa, Solomon Islands, Tonga, Tuvalu, Vanuatu, Baltimore, Pacific, Federated States, The U.S

WASHINGTON (AP) — President Joe Biden is set to announce the opening of new U.S. embassies on Cook Islands and Niue on Monday as the Democratic administration aims to demonstrate to Pacific Island leaders that it remains committed to increasing American presence in the region. The announcement about the new diplomatic missions in the South Pacific comes as Biden prepares to welcome leaders to Washington for the two-day U.S.-Pacific Island Forum Summit. Talks are expected to heavily focus on the impact of climate change in the region. They also will meet on Monday with Biden's special envoy on climate, John Kerry, for talks focused on climate change. Kerry and USAID administrator Samantha Power will host the leaders on Tuesday for climate talks with members of the philanthropic community.

Persons: Joe Biden, Biden, Karine Jean, Pierre, John Kerry, Antony Blinken, Linda Thomas, Greenfield, Samantha Power, Janet Yellen, Manasseh Sogavare, Meltek Sato Kilman, Ishmael Kalsakau, Anthony Albanese Organizations: WASHINGTON, Democratic, Forum, White, Baltimore Ravens, Coast Guard, U.S . Coast Guard, White House, Pacific, State Department, USAID, Marshall, Federated, Solomon Islands, General Assembly, The U.S, Australian Locations: Cook Islands, Niue, South, Washington, Baltimore Harbor, Australia, Micronesia, Fiji, French Polynesia, Kiribati, Nauru, New Caledonia , New Zealand, Palau, Papua New Guinea, Republic, Marshall Islands, Samoa, Solomon Islands, Tonga, Tuvalu, Vanuatu, Kerry, Federated States, The U.S, Solomon, New York, China, Papua, Guinea, The

☆ U.S. revives Cold War submarine spy program to counter China
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +21 min

The original network of fixed spy cables, which lie in secret locations on the ocean floor, was designed to spy on Soviet submarines seven decades ago, the three people said. China, meanwhile, is working on its own maritime spy program, known as the Great Underwater Wall, two U.S. Navy sources told Reuters. Sense of urgencyAmerica’s underwater espionage program was launched in the 1950s with a submarine detection system known as the Sound Surveillance System. The U.S. Navy’s Undersea Surveillance System The United States is expanding and upgrading its anti-submarine surveillance capabilities as tensions rise with China. Japan also operates a fleet of three ocean surveillance ships, fitted with U.S. SURTASS cables, the two U.S. Navy sources said.

Persons: Captain Stephany Moore, Richard Seif, Moore, Seif, ”, Tim Hawkins, Mariana Trench, Brent Sadler, We're, Sadler, ” Jon Nelson, Phillip Sawyer, Sawyer, United States –, SOSUS, SubCom, Stephen Askins, Lockheed Martin, Chuck Fralick, Leidos, ” Fralick, Hawkins, Richard Jenkins, Saildrone, Joe Brock, Mohammad Kawoosa, Simon Scarr, Edgar Su, Catherine Tai Design, Eve Watling, Marla Dickerson Organizations: U.S . Navy, Navy, Undersea Surveillance Command, Undersea Surveillance, United, Submarine Force U.S . Pacific Fleet, Reuters, U.S . 5th Fleet, U.S, Pacific, China Academy of Sciences, China’s Ministry of Defense, Foreign, China Naval, U.S . Naval Forces Korea, The Heritage Foundation, Department of Defense, Naval Air Station Whidbey, Processing, Undersea, Undersea Warfare, Naval Postgraduate School, Taiwan, Ships, Titan, Navy’s, CS, U.S . Department of Defense, Lockheed, U.S . State Department, An Australian Defense, Self, Defense Force, Leidos Locations: Seattle, U.S, Whidbey, China, Taiwan, Beijing, United States, Australia, Pacific, South China, Mariana, Yap, Federated States, Micronesia, Guam, Russian, Ukraine, Washington . U.S, Washington, Soviet Union, Washington State, Virginia Beach , Virginia, Monterey , California, Japan, India, States, London, Taiwan Strait, Virginia, San Francisco

The European Central Bank last week lifted rates to a record 4% and upgraded its inflation forecast for 2024, but the euro fell and has lost almost 2% against the dollar this month. Overall, Europe's central banks "would like to portray this idea of higher for longer (rates)," said Ed Hutchings, head of rates at Aviva Investors. The currency, which the central bank labeled "unjustifiably weak," barely caught a break and remains near a record low against the euro . He expected one the of big European central banks to be the first to cut rates. European central banks were "in a bind," Fiotakis added, as higher oil prices also threatened to push inflation higher.

Persons: Dado Ruvic, Sterling, Kit Juckes, BoE, SocGen's Juckes, Ed Hutchings, Nathan Thooft, Bjoern, Fiotakis, Orla Garvey, Naomi Rovnick, Christina Fincher Organizations: REUTERS, Sterling, LONDON, Bank of, Swiss, greenback, Societe Generale, European Central Bank, ECB, U.S . Federal Reserve, Fed, Aviva Investors, Investment Management, Reuters, DWS Group, Nomura, ING, Barclays, Federated, Thomson Locations: Swiss, Bank of England, Switzerland, Sweden, Europe, U.S, Western Europe, United States, Britain, Swedish, Japan, European

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