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UK general election: Why the economy is the key issue
  + stars: | 2024-06-04 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +7 min
Sunak will likely point to falling inflation and a strengthening economy as proof that his plan to “restore economic stability” is working. Here’s what data shows has happened to wages, living standards, the value of the pound, house prices and waiting times for medical treatment on the NHS. “Poor income growth has been an unfortunate feature of economic life in the UK over the last 15 years. On average, households now spend more than 29% of their after-tax income on rent, up from 24% in 2010, according to Zoopla, a property company. NHS waiting lists have grown steadily since the onset of the Covid-19 pandemic, contributing to worker shortages in the UK.
Persons: Rishi Sunak, Keir Starmer, Tony Blair, Sunak, YouGov, Labour Party Keir Starmer, Jeff J Mitchell, Alastair Grant, Tom Waters, , , Nick Ridpath, Liz Truss, “ Brexit, Clare Lombardelli, Brexit Organizations: London CNN, Conservative Party of, European Union, Labour Party, Labour, National Health Service, Conservatives, Britain's, Institute for Fiscal Studies, Conservative, Bank of England, Office, National Statistics, NHS Locations: Ukraine, United Kingdom, , United States, Germany, Britain, England
CNN —Joe Biden is pushing progressives who are already sour on his presidency to the limit with a tough new executive action barring most asylum applications from migrants crossing the US-Mexico border illegally. Of all issues tested, Biden recorded his lowest approval rating on immigration in a CNN poll in February — just 30%. Progressives face their own dilemmaBiden would never say it bluntly in public, but his gamble with progressives carries an implicit question — where else are they going to go? Some Haley supporters on Tuesday welcomed Biden’s immigration actions, CNN’s Kit Maher reported. “While many Haley voters continue to have policy differences, this common-sense action is a clear step in the right direction to address one of the top priorities of many Haley voters,” the Haley Voters Working Group, a coalition of approximately 25 conservative Haley supporters, posted on X.
Persons: CNN — Joe Biden, Donald Trump’s, Biden, Benjamin Netanyahu, doesn’t, Trump, , , ” Sen, Alex Padilla, CNN’s Manu Raju, ” Biden, Pramila Jayapal, Greg Casar, Republicans “, Ayanna Pressley, He’s, he’s, Sen, Bernie Sanders, Republican demagogue, Adolf Hitler’s, Rashida Tlaib, “ We’re, ” Tlaib, Biden’s, Joe Biden, ” Kate Bedingfield, Nikki Haley, Haley, CNN’s Kit Maher, Amanda Stewart Sprowls Organizations: CNN, Republicans, Trump, White, Progressives, Central America, Democratic, California Democrat, Congressional Progressive Caucus, Biden can’t, Republican, Texas, Massachusetts, Congressional District, Michigan Democratic, Israel, Biden White House, South Carolina Gov, Haley Locations: Mexico, Gaza, , South, Central, California, Washington, America, Vermont, Michigan, Israel, Arizona
I had a number in mind, but it wasn't my ageWhen I thought about retirement, I had a specific number in mind. Plus, I wanted to travel as long as I was physically able to and continue going to the theater regularly. Now, AI is changing the way everyone does business, and I'm not sure if I'm willing or able to climb the steep learning curve ahead. The final — and perhaps most compelling — reason for me to retire is so I can pursue my passions. I don't need to announce my retirement, throw myself a retirement party, or give myself a gold watch.
Persons: I'm, I've Organizations: Service, Social Security
Perhaps the last thing the market needs is another shady financial product that pushes low-income Americans into homes they can’t afford, under terms that could bankrupt them. The zero-down mortgage is making a comeback, my colleague Matt Egan reports. And honestly, when has the value of the housing market ever gone anywhere but up up up up? The housing market, as we all remember from “The Big Short,” does not always go up. One way for motivated buyers to hunt for a lower mortgage rate is buy someone else’s.
Persons: America’s, aren’t, Matt Egan, you’re, let’s, didn’t, you’d, you’ll, , Patricia McCoy, ” Alex Elezaj, ” Adams, , Samantha Delouya, Ellen Harper, Samantha, ” Harper Organizations: New, New York CNN, Wall, United Wholesale Mortgage, Boston College Law School, CNN, Locations: New York, Georgia
Israel-Gaza War: Live Updates
  + stars: | 2024-06-02 | by ( Aaron Boxerman | Mike Ives | ) www.nytimes.com   time to read: +6 min
Two Israeli officials confirmed that Mr. Biden’s proposal matched an Israeli cease-fire proposal that had been greenlit by Israel’s war cabinet. “Put your money where your mouth is.”But at home, Mr. Netanyahu faces a host of competing pressures. Yair Lapid, the leader of Israel’s parliamentary opposition, also urged Mr. Netanyahu to take the deal as outlined by Mr. Biden. He repeated that his party would back Mr. Netanyahu’s government if hard-liners like Mr. Ben-Gvir, the national security minister, left over a hostage release deal. Political analysts said Mr. Netanyahu has tried to avoid that scenario, as it would make him dependent on some of his harshest critics.
Persons: Biden, Benjamin Netanyahu, Israel, Netanyahu, Netanyahu’s, Biden’s, ” Mr, Mr, — Bezalel Smotrich, Itamar Ben, Gvir, Ben, , “ Biden, , Uzi Arad, , Cheriss, Gil Dickmann, Carmel Gat, Kibbutz, Dickmann, Benny Gantz, Gantz, Yair Lapid, Mr . Biden Organizations: Hamas, , Gaza Health Ministry, Palestinian, White, ., The New York Times, Kibbutz Be’eri, Mr Locations: Israel, Gaza, Tel Aviv
New Delhi CNN —There’s no fresh water in the slums of Delhi’s Chanakyapuri neighborhood. She tried to run back for it – but it was too late, the water had run out. Residents in Delhi’s Chanakyapuri neighborhood clamber to get water under baking heat on May 31, 2024. As record heat grips northern India, the Delhi government has been forced to ration these free water deliveries. But if they get to the hospital late and the intervention is late, the mortality rate is so high.
Persons: New Delhi CNN —, Shah, Vijay Bedi, , it’s, Poonam Shah, Ram Manohar Lohiya, Ajay Shukla, Anupam Nath, ” Dr Shukla, Kali Prasad, aren’t, Farwa Aamer, Aamer Organizations: New, New Delhi CNN, CNN, Indian Meteorological Department, Ram, , Workers, Asia Society Policy Institute Locations: New Delhi, Delhi’s Chanakyapuri, India, Delhi, Guwahati, South Asia
Debris covered a street and firefighters rushed to rescue people from an apartment block hit by a Russian missile early Friday in the city of Kharkiv, just hours after U.S. officials disclosed a shift in policy allowing Ukraine to defend against such attacks by hitting targets in Russia with American-provided weaponry. The shift is narrow in scope, granting Ukraine permission to use American air defense systems, guided rockets and artillery to fire into Russia only along Ukraine’s northeastern border, near Kharkiv. But hitting targets with American weapons inside Russia had been a red line drawn by the Biden administration because of worries about escalation before the cross-border fighting began near Kharkiv. Russia has been launching missiles and gathering forces in the safety of its own territory, out of range of Ukraine’s Soviet-era weaponry. Indeed, in granting permission, U.S. officials said the weapons should only be used in self-defense in the border region.
Persons: Biden Locations: Russian, Kharkiv, Ukraine, Russia, American, Kharkiv .
Credit... Jehad Alshrafi/Associated PressThe Israeli military said on Friday that its forces had advanced into central Rafah, pushing even deeper into the southern Gaza city despite an international backlash and pressure from allies to scale back the latest offensive. Israeli commandoes backed by tanks and artillery were operating in central Rafah, the Israeli military said in a statement, without specifying precise locations. GAZA STRIP Area of image Central Rafah GAZA Israeli military vehicles EGYPT GAZA STRIP Area of image Central Rafah GAZA Israeli military vehicles EGYPT Much of eastern Rafah has been devastated since the offensive began in early May, particularly around the border crossing with Egypt, according to satellite photos from May 22. Israel captured the Rafah crossing in an overnight operation on May 7 that marked the beginning of their assault on the area. May 5 RAFAH Rafah crossing 1 mile May 22 GAZA STRIP Area of image Area of most damage Rafah crossing Source: Satellite imagery from Planet Labs The Rafah crossing has served as a vital conduit for getting humanitarian aid into Gaza amid widespread deprivation and hunger.
Persons: Jehad, Israel Organizations: Associated Press, United Nations, International Court of Justice, Planet Labs, Labs Locations: Rafah, Israel, Gaza, Egypt, United States, GAZA, Rafah GAZA, EGYPT GAZA, EGYPT, RAFAH Rafah, Palestinian
Jane Bernhard Columbia Business SchoolI have always been a very driven and creative person. I graduated with a BFA in Musical Theater and continued my work in theater and television acting through my 20s. It took an immense toll on my personal life, which was completely pushed to the side as new opportunities came up. Conventional consulting doesn’t work for me, but I realized having my own consulting business does — so I started one. And if I find a job elsewhere down the line that aligns with my priorities, I may open that door.
Persons: Jane Bernhard, Organizations: Columbia Business School, LinkedIn, CNN, Jane Bernhard Columbia Business, Theater, Columbia, Twitter, Facebook
In recent days, Ukraine has conducted a series of drone attacks inside Russia, including one of the longest-range strikes of the war, that target radar stations used, at least partly, as early nuclear warning systems by Moscow. On Monday, Ukraine struck a radar station near the border with Kazakhstan that was more than 1,100 miles away, a Ukrainian intelligence official said. Ukrainian experts said the facility was used to detect missile threats from Asia. On Tuesday morning, the governor of the Krasnodar region of Russia reported that a Ukrainian drone was downed in the sky over the town of Armavir, which is home to two radar stations. Ukraine did not report any new strikes that day.
Persons: Biden Locations: Ukraine, Russia, Moscow, Kazakhstan, Ukrainian, Asia, Krasnodar, Armavir, Kyiv, United States, Kharkiv
Hong Kong CNN —Chinese leader Xi Jinping decried “tremendous sufferings” in the Middle East and called for an international peace conference as leaders from Arab nations visit Beijing this week amid mounting global concern over Israel’s war in Gaza. Justice should not be absent forever,” Xi said Thursday at the opening of a meeting between top diplomats from China and Arab states, also attended by several leaders from the region. Delegations from 22 Arab states joined that event at Beijing’s Diaoyutai State Guesthouse, according to Chinese state media. China has recognized a Palestinian state since 1988. Thursday’s ministerial meeting is the first such gathering since China held its first joint summit with Arab leaders in late 2022 in Saudi Arabia.
Persons: Xi Jinping, ” Xi, Israel, Xi, , Abdel, Fattah, Mohamed bin Zayed Al Nahyan, Bahrain’s King Hamad bin Isa Al Khalifa, Kais Saied, China “, Yun Sun, Fatah, Joe Biden, Jamal Khashoggi, Egypt’s Sisi Organizations: Hong Kong CNN, United Arab Emirates, States Cooperation Forum, Diplomats, Stimson, UN Relief and Works Agency for Palestine Refugees, of Locations: China, Hong Kong, Beijing, Gaza, , Palestinian, Rafah, United States, Israel, Washington, United, Palestine, Iran, Saudi Arabia, Istanbul
But this is the global system we do have and, within it, some billionaires are behaving much more generously and ethically than others. Melinda French Gates is one of the good ones. French Gates has long been an advocate for family planning and women’s rights abroad, and now she’s dedicating $1 billion through 2026 to those issues. Female billionaires, in other words, are far more likely than male ones to give away substantial portions of their wealth. So yes, we can applaud the good billionaires who give their wealth away, even if we think that they are representative of a bigger inequality problem.
Persons: Jill Filipovic, , Melinda French Gates, French Gates, it’s, She’s, Gates, MacKenzie Scott, Jeff Bezos, Scott, Forbes, Elon Musk, Larry Ellison, Warren Buffett, Larry Page, Ellison, Page, Buffett, Donald Trump’s, Sam Altman, Bill Gates, Scarlett Johansson, that’s, George Soros, doesn’t Organizations: Twitter, CNN, Gates Foundation, The New York Times, Forbes ’, Forbes, Elon, Facebook Locations: New York, United States, French, The, New Zealand, There’s
Eastern Ukraine CNN —Ukrainian crews working on US-supplied Abrams tanks have told CNN of a series of the weaknesses and flaws with the armored vehicles, calling into doubt their utility on the war’s ever-changing frontlines. Much of the Ukrainian frontline is now dominated by the use of self-destructing attack drones, tiny and accurate devices that can swarm infantry and even cause significant damage to tanks. Mick Krever/CNNAmmunition is also a problem, like elsewhere on the Ukrainian frontline. NATO “would never” use the Abrams tank the way the Ukrainian military has to use it, a Ukrainian soldier who uses the moniker “Joker” said. Mick Krever/CNNThe Ukrainian crew expressed frustration the tanks were made for a NATO style of warfare, in which air power and artillery prepare the battlefield before tanks and infantry advance.
Persons: Abrams, Joe Biden, , Crews, Saddam Hussein’s, Mick Krever, ” Joker, , ’ ”, Oleksandr Syrsky, Victoria Butenko Organizations: Eastern, Eastern Ukraine CNN —, CNN, United, ” CNN, 47th Mechanised Brigade, Pentagon, Abrams, NATO, Locations: Eastern Ukraine, United States, Ukraine, Germany, Iraq, Dnipro, Ukrainian, Avdiivka, Russia, Poland, American, Russian, Red Square, Kyiv, “ Ukraine, Ukraine’s, France
Now, new evidence from a skull more than 4,000 years old has revealed that ancient Egyptian physicians may have tried to treat certain cancers with surgery. “We can see that ancient Egyptian medicine was not solely based on herbal remedies like medicine in other ancient civilizations,” said Badr, who was not involved in the new research. “There is an urgent need to reevaluate the history of Egyptian medicine using these scientific methodologies,” Badr said. The earliest recorded observation of cancer is in an ancient Egyptian medical text known as the Edwin Smith Surgical Papyrus, which dates back to around 3000 BC to 2500 BC. But there was none for the breast cancer patient’s tumors, Camarós said.
Persons: , Edgard Camarós, Camarós, ” Camarós, Isidro, Ibrahem Badr, Badr, Duckworth, ” Badr, Edwin Smith Surgical, Edwin Smith, , ” Mindy Weisberger Organizations: CNN — Cancer, Laboratory, University of Cambridge, University of Santiago, CNN, Misr University for Science, Technology, Duckworth Laboratory, Scientific Locations: Egypt, United Kingdom, Medicine, University of Santiago de Compostela, Coruña, Spain, Camarós, Giza, Europe, United States
CNN —The war in Gaza will likely continue through at least the end of the year, an Israeli official warned Wednesday, seeming to dismiss the idea that fighting would end after the military offensive against Hamas in Rafah. Israel’s national security adviser, Tzachi Hanegbi, said the year 2024 has been “defined as a year of combat” by Israel’s war cabinet. The Israeli government had previously signaled that entering Rafah would be the final stage of its war against Hamas, which attacked Israel on October 7, killing about 1,200 people and taking some 250 people hostage. In response, Israel launched a devastating offensive in Gaza which has killed more than 36,000 people, according to Palestinian officials. This resilience is what has allowed this nation to survive for 75 years, and even for 3,000 years before that.
Persons: Tzachi Hanegbi, , ” Hanegbi, , Benjamin Netanyahu’s, Netanyahu, , Hanegbi, , Tal, Joe Biden Organizations: CNN, Hamas, Islamic, Sunday, Reuters, International Court of Justice Locations: Gaza, Rafah, Israel, Reuters Israel, United States,
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAhead of Israel's assault on Rafah, President Joe Biden issued several stark warnings to Israeli Prime Minister Benjamin Netanyahu. A $1 billion arms dealThe statement suggests Biden will continue to move forward with a $1 billion weapons package to Israel. As BI previously reported, the weapons deal could be seen as an attempt to heal Biden's relationship with Netanyahu and to halt accusations that the US is emboldening Iran. For instance, Biden previously withheld a shipment of bombs before announcing that the planned weapons deal would go ahead.
Persons: , Joe Biden, Benjamin Netanyahu, Biden, Netanyahu, BRENDAN SMIALOWSKI, Matt Miller, Sen, Chris Van Hollen, Andrew Payne, Payne, Dave Harden Organizations: Service, CNN, Business, MSNBC, Gaza Health Ministry, IDF, Associated Press, State Department, Wall Street Journal, Getty, Washington Post, City University of London, Trump ., US Agency for International Development, West Bank, BBC Locations: Rafah, Israel, Gaza, Tal al, Anadolu, Iran
But the business experience in the retail health clinic space has largely disappointed. Walmart and the problem of volume vs. priceIn 2019, Walmart announced a bold initiative to open 4,000 in-store health clinics by 2029. "Primary health care is a low margin business," said Arielle Trzcinski, a principal analyst covering health care at research firm. "Compared to what they see in traditional retail, health care is a fundamentally different business," Trzcinski said, citing the challenges of navigating insurance companies and administrative burdens that health care brings. In-store health clinics can be profitable and viable, and retailers are experimenting with piecemeal approaches tailored to the local market.
Persons: Bobbi Radford, Radford, haven't, CVS's MinuteClinic, Karla Lemon, CVS's, I've, That's, Timothy Hoff, Hoff, didn't, Colleen Sanders, Sanders, Arielle Trzcinski, Forrester, Trzcinski, America Sanders, Virgil Brantz, Brantz Organizations: CVS, Walmart, Walgreens, Northeastern University, Insurance, Washington , D.C, Aetna, Retailers, Washington, Hartford HealthCare, Health Clinic, Arizona State University, Little Clinics, Kroger Locations: Batavia , Ohio, VillageMD, Southern California, New England, Conway , South Carolina, Washington ,, MinuteClinic, USA, America, Connecticut, Hartford, Phoenix, Atlanta, Little
French Gates said she will donate $1 billion through 2026 to advance women’s rights around the world through her organization, Pivotal Ventures. French Gates will also give $250 million in awards to organizations working to help improve women’s mental and physical health. “I’m also experimenting with novel tactics to bring a wider range of perspectives into philanthropy,” French Gates wrote in her op-ed. In her op-ed, French Gates said she was once told to set her own agenda before someone else sets it — and that’s why she chose to leave the Gates Foundation. Just 2% of donations in the United States go to organizations focused on women and girls, French Gates noted.
Persons: Melinda French Gates, Dobbs, Gates, Melinda Gates, MacKenzie Scott, French Gates, Scott, “ I’m, Jacinda Ardern, Allyson Felix, Shabana Basij, Organizations: New, New York CNN, New York Times, Melinda Gates Foundation, Gates Foundation, New Zealand Locations: New York, United States
Here is what’s open and closed on Memorial Day 2024
  + stars: | 2024-05-27 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +1 min
CNN —Memorial Day is the unofficial start of summer, with many students out of school and office workers enjoying the day off. This year, Memorial Day is on Monday, May 27. Here’s what will be open and closed on Memorial Day 2024. Walmart and Target will be open on Memorial Day. Postal servicesThe United States Postal Service will not be delivering mail on Memorial Day.
Organizations: CNN, Retail, Walmart, Target, Kroger, Aldi, Costco, New York Stock Exchange, Nasdaq, Federal Reserve, United States Postal Service, UPS, FedEx
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Walmart has augmented its reputation for low prices with a number of Target-coded improvements such as refreshed stores, upscale product assortment, and smoother e-commerce options to see strong gains among higher-income shoppers. AdvertisementThe numbers indicate Walmart (among others) may be picking Target's pocket in terms of market share as inflation-weary consumers hunt for the best value for their dollar. Earlier this year, Target went after budget-minded buyers with a new line of essentials under the Dealworthy brand. Then late last month, Walmart took a shot at Target's Good & Gather-owned brand with an all-new upscale private label called Bettergoods.
Persons: , Brian Cornell, Cornell, Christina Hennington, Target, Bettergoods, Hennington, We've Organizations: Service, Walmart, Business, Target Locations: Dealworthy
What’s open and closed on Memorial Day 2024
  + stars: | 2024-05-26 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +1 min
New York CNN —Memorial Day is the unofficial start of summer, with many students out of school and office workers enjoying the day off. This year, Memorial Day is on Monday, May 27. Here’s what will be open and closed on Memorial Day 2024. Walmart and Target will be open on Memorial Day. Postal servicesThe United States Postal Service will not be delivering mail on Memorial Day.
Organizations: New, New York CNN, Retail, Walmart, Target, Kroger, Aldi, Costco, New York Stock Exchange, Nasdaq, Federal Reserve, United States Postal Service, UPS, FedEx Locations: New York
The 10 books the rich will be reading this summer
  + stars: | 2024-05-26 | by ( Robert Frank | ) www.cnbc.com   time to read: +11 min
That's why J.P. Morgan Private Bank, every May, releases its summer reading list, often serving as a book club for billionaires. This year marks the 25th anniversary of the list, now called the J.P. Morgan Summer Reading List. The 10 books are carefully curated to match the tastes and preoccupations of J.P. Morgan's wealthy clients. It also helps with client events, since authors on the list often agree to do special dinners or speaking events for J.P. Morgan clients. Authors love being on the list as well since J.P. Morgan buys thousands of books to hand out and since clients often refer the books to others.
Persons: Robert Frank, Today's, Alicia Keys, Swizz Beatz, J.P, Morgan, Darin Oduyoye, Oduyoye, Gary White, Matt Damon, Charles Duhigg, Jonathan Haidt, Haidt, Kasseem Dean, , Gordon Parks, Michel Basquiat, Lorna Simpson, Odili Donald Odita, Kennedy Yanko, Kimberli Gant, Salman Khan Salman Khan, Jack Daniel, Fawn Weaver, Daniel's, Daniels, Weaver, Joshua Robinson, Jonathan Clegg, Robinson, Clegg, Melinda Stevens, Issy von Simson, Tabitha Joyce, Fortunato, Adam Pearson, Fortunato Chocolate, Laura Mae Martin, Laura Mae Martin —, Martin, Jake Gyllenhaal, Greta Caruso, Tony, Damon Organizations: Morgan Private Bank, Morgan, Reading, Wealth Management, J.P, Giants, Art, Phaidon, Brooklyn Museum, Education, Khan Academy, Wall, Mercedes, Nacional, Google, Solutions, JPMorgan, Manhattan Company Locations: Water, Lynchburg , Tennessee, America, United States, Croatian
Local officials said a massive landslide struck a village in Papua New Guinea's highlands, with many feared dead. An emergency convoy was delivering food, water and other provisions Saturday to stunned survivors of a landslide that devastated a remote village in the mountains of Papua New Guinea and was feared to have buried scores of people, officials said. Aktoprak conceded that if the number of buried houses estimated by local authorities was correct, the death toll could be higher. "The United States stands with Papua New Guinea — our close partner and friend — today and always," Biden added. Albanese posted on the social media platform X: "All Australians grieve for our brothers and sisters in Papua New Guinea after the terrible landslide."
Persons: Serhan Aktoprak, Aktoprak, James Marape, Andrew Ruing, Ruing, Joe Biden, Anthony Albanese, Biden, , Albanese Organizations: International Organization, Papua New Guinea, Australian Broadcasting Corp, U.S, Australian Locations: Maip Mulitaka, Papua, Enga Province, Papua New Guinea, Enga, South Pacific, Port Moresby, Papua New, Wabag, Porgera, Australia, United States, China
Kyiv CNN —The air at the Ukrainian military recruitment office where a 30-year-old hairdresser is being interviewed is filled with anxiety. “The time has come,” he told CNN. “The desire to fight the enemy is very important, in addition to training, equipment and preparedness,” he told CNN. If shelling starts on the frontline, I think I will be confused and will only create problems for others,” he told CNN. Andrii Demchenko, the spokesperson for the Border Guard Service of Ukraine, told CNN his officers detain people trying to cross out of Ukraine on daily basis.
Persons: , , baring, Yurii Sodol, Yaroslav Galas, Daria Tarasova, Volodymyr Zelensky’s, Ukrainian Armed Forces Oleksandr Syrskyi, Dmytro Kulibaba, Galas, , Diego Herrera Carcedo, I’m, Ukraine doesn’t, , , ” Galas, Andrii Demchenko Organizations: CNN, Da Vinci, Joint Forces, 128th Mountain Assault Brigade, People, Ukrainian Armed Forces, 114th Territorial Defense Brigade, Armed Forces, Getty, Border Guard Service of, Border Service Locations: Kyiv, Ukraine, Russian, Russia, Ukrainian, Avdiivka, Kreminna, Anadolu, Robotyno, Belarus, Donetsk Oblast, Europe, Border Guard Service of Ukraine, Romania, Hungary
London CNN —Money generated by Russian financial assets frozen in Europe will soon start flowing to Ukraine, giving Kyiv a boost as it struggles to counter an advance by Moscow’s troops. The plan “would essentially bring forward that flow of interest proceeds from the assets… (through a loan) given to Ukraine,” Yellen told broadcaster Sky News in an interview this week. “Ukraine has substantial needs, and being able to marshal significant resources to help Ukraine is important,” she said. Most of the frozen Russian money is held in Europe, and the euro is the world’s second-most important currency after the US dollar. This would give Kyiv access to a much larger amount of money than using future or current windfall profits from Russian assets.
Persons: Janet Yellen, ” Yellen, Gabriel Bouys, Joe Biden, ” Lee Buccheit, Trade Valdis Dombrovskis, Yellen, there’s, , Buchheit, Putin, Organizations: London CNN, Union, Sky News, , US, Getty, University of Edinburgh Law School, CNN, EU, Trade, Reuters, Russia, Ukraine, World Bank Locations: Europe, Ukraine, West, Italy, Russia, Ukraine’s, Kharkiv, Frankfurt, Germany, “ Ukraine, Stresa, AFP, EU, Belgium, Kyiv
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