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☆ ‘Immaculate disinflation’ is the new economic buzzword. But what does it mean?
▼ + stars: | 2023-09-06 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

New York CNN —Economists added yet another term to their lexicon in recent months: immaculate disinflation. That pain tends to come in the form of a higher unemployment rate, which hampers economic growth. Yet the nation’s unemployment rate actually fell from 3.6% in June 2022 to 3.5% in July 2023. That’s leading some economists to believe that immaculate disinflation may be possible. “I wouldn’t call this disinflation immaculate,” he said in a CNBC interview at last month’s Jackson Hole Fed conference.

Persons: there’s, that’s, aren’t, Jerome Powell, Powell, Alex Wong, Joe Biden’s, Jared Bernstein, ”, Jackson, “, Bernstein, Loretta Mester, ” Mester, it’s, Mester Organizations: New, New York CNN, CNBC, Fed, White, Cleveland Fed Locations: New York, United States

☆ Pernod Ricard shares face a lengthy dry spell
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

A glass of cognac is pictured on a bar in the Manhattan borough of New York City, November 13, 2015. REUTERS/Mike Segar Acquire Licensing RightsLONDON, Aug 31 (Reuters Breakingviews) - Pernod Ricard (PERP.PA) shareholders have few reasons to cheer. The owner of Mumm champagne and Absolut Vodka said that China’s property crunch was making wholesalers cautious and keeping punters out of nightclubs. China has been a key source of growth for drink-makers: helped by Asia, Pernod Ricard’s sales outside of Europe and the Americas grew 17% in 2023. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Segar, Pernod Ricard, Mumm, Remy Cointreau, Aimee Donnellan, Mukesh Ambani’s, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, Investors, Pernod, Diageo, X, Thomson Locations: Manhattan, New York City, U.S, China, Asia, Europe, Americas

☆ Adani fault lines raise bar for India’s regulator
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

Indian billionaire Gautam Adani speaks during an inauguration ceremony after the Adani Group completed the purchase of Haifa Port earlier in January 2023, in Haifa port, Israel January 31, 2023. It was a hunt an Indian panel probing allegations of stock manipulation warned might be "a journey without a destination". Adani on Thursday rejected OCCRP’s claims, saying they are based on decade-old closed cases. Shares of Adani Total Gas (ADAG.NS), a joint venture with France’s Total, and Adani Power (ADAN.NS) and Adani Enterprises (ADEL.NS) fell 2.5%, 3.5% and 3% respectively. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Gautam Adani, Amir Cohen, Gautam, Hindenburg, Madhabi Puri, she’s, Nasser Ali Shaban Ahli, Taiwan’s Chang Chung, Ling, Vinod Adani, Gautam Adani’s, Adani, OCCRP’s, Mukesh Ambani’s, Didi, Antony Currie, Thomas Shum Organizations: Adani Group, Haifa Port, REUTERS, Rights, Reuters, India’s Securities, Exchange Board of India, United Arab Emirates, France’s, Adani Enterprises, X, Thomson Locations: Haifa, Israel, Madhabi Puri Buch, Una

☆ NN Group’s deal spree is finally delivering
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

LONDON, Aug 29 (Reuters Breakingviews) - NN Group (NN.AS) is reaping the benefits of scale in its Dutch backyard. Benign weather in the Netherlands, one of the few European states to escape extreme summer weather, helped. But the seeds of NN’s resurgence lie back in 2016 when it began a 3 billion euro deal splurge, first on domestic rival Delta Lloyd and then VIVAT’s general insurance arm. That helped it hike a 10% share of the general insurance market to 24% as of 2021. NN has outperformed its country rival Aegon (AEGN.AS), boosting shareholder returns by 64% since it bought Delta Lloyd in 2016.

Persons: David Knibbe, Elliott Advisors, Elliott, Delta Lloyd, Aimee Donnellan, Mukesh Ambani’s, Didi, George Hay, Oliver Taslic Organizations: Reuters, Chief, Delta, Aegon, Delta Lloyd, Thomson Locations: Netherlands

☆ Mukesh Ambani’s succession planning is a bonus
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Mukesh Ambani (R), Chairman and Managing Director of Reliance Industries, poses with (from 2nd R to L) wife Nita Ambani, children Isha Ambani, Anant Ambani, and Akash Ambani before addressing the company's annual general meeting in Mumbai, India July 21, 2017. REUTERS/Shailesh Andrade Acquire Licensing RightsMUMBAI, Aug 29 (Reuters Breakingviews) - The bar for Mukesh Ambani to impress is rising, including on succession. Planning is sensible, yet Reliance shares closed down 1.1%. Here, the top challenge may be getting public shareholders to match the $100 billion valuation the Qataris have set for the shopping unit. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mukesh Ambani, Nita Ambani, Isha Ambani, Anant Ambani, Akash Ambani, Shailesh Andrade, Ambani, Isha, Akash, Anant, That’s, Shritama Bose, Didi, Una Galani, Thomas Shum Organizations: Reliance Industries, REUTERS, Rights, Reuters, Reliance, Reliance Retail, Jio Financial Services, X, White, Thomson Locations: Mumbai, India

☆ 3M’s $6 bln earplugs settlement is a little sticky
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

A variety of 3M products are pictured at an Orchard Supply Hardware store in Pasadena, California U.S., January 24, 2017. REUTERS/Mario Anzuoni Acquire Licensing RightsNEW YORK, Aug 29 (Reuters Breakingviews) - 3M’s (MMM.N) latest legal settlement includes some curious wrinkles. Moreover, the earplugs agreement is conditioned on 98% participation from what is now roughly 250,000 claimants. The $60 billion company is trying to project the idea it’s getting past its legal entanglements, but the reality is a little stickier. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mario Anzuoni, Scotchgard, Jeffrey Goldfarb, Mukesh Ambani’s, Didi, Lauren Silva Laughlin, Sharon Lam Organizations: Supply, Pasadena , California U.S, REUTERS, Reuters, Aearo Technologies, X, Thomson Locations: Pasadena , California

☆ White House inflicts Big Pharma ills
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

If just one or two big medications were going to be renegotiated, the industry could shoulder the change. The IRA, signed into law last year, allows Medicare to negotiate prices for some of its most costly drugs. Though specificities are unclear, a quick look at one of the biggest sellers under the program, blood thinner Eliquis, suggests Big Pharma could shoulder a discount. At 11 times earnings over the next 12 months, that’s less than 10% of the firm’s $205 billion market capitalization. Put this on the same multiple of 11 times, and it would be a $275 billion hit to the industry.

Persons: George Frey, Biden, Robert Cyran, Xpeng’s Didi, Lauren Silva Laughlin, Sharon Lam Organizations: Pfizer Pharmaceuticals, REUTERS, Reuters, Big, Medicare, Pfizer, Bristol, Myers Squibb, Congressional, Office, X, Thomson Locations: Provo , Utah, U.S

☆ Why F-16 jets can’t come soon enough for Ukraine
▼ + stars: | 2023-08-19 | by ( Nick Paton Walsh | ) edition.cnn.com time to read: +4 min

Dnipro, Ukraine CNN —The depth and frequency of craters across the frontline city of Orikhiv are a blunt example of why Ukraine needs F-16 fighter jets urgently. Ukrainian troops amassed around the city have the unenviable task of pushing through minefields towards an enemy that has long anticipated their advance. Russian jets fire half-metric-ton bombs that glide in from afar – from outside of the reach of Ukraine’s air defenses – and then devastate Ukrainian positions at will. So when Ukraine says it urgently needs F-16s, it is because Ukrainian troops are dying daily because of Russian air superiority. Portuguese Air Force F-16 military fighter jets participate in NATO's Baltic Air Policing Mission in Lithuanian airspace near Siauliai, on May 23.

Persons: Stringer, “, Petras Malukas Organizations: Ukraine CNN, NATO, CNN, Portuguese Air Force, Air Policing Mission, Getty Locations: Dnipro, Ukraine, Orikhiv, Russian, Ukrainian, Kharkiv, Kherson, Zaporizhzhia, Ukraine’s, Moscow, Siauliai, AFP

CNN —One fighter was shot twice, sent from the hospital back to the front, where he drank melted snow to live. Forced to assault Ukrainian positions repeatedly, until a grenade blinded him. CNN also spoke to a rare survivor of the Storm-Z units, Sergei – who was first interviewed by phone in a military hospital months earlier and last week recounted the savage and deteriorating life in the Russian trenches. While the appalling fighting conditions are well known, much Russian testimony is from prisoners of war, and provided through Ukrainian facilitators. Sergei recalls the quotidian horrors of the Russian trenches.

Persons: Vladimir Putin, Wagner, Andrei, Sergei –, Sergei, CNN Sergei, amputees, ” Sergei, ”, “, Don’t, Yulia, ” Andrei, CNN Yulia, Andrei messaged, Putin, ‘, ‘ we’re, ’, ” Yulia sobbed Organizations: CNN, Nazis, Russian Ministry of Defense, Kremlin, Ministry of Defense Locations: Russian, Red Square, Ukraine, Russia

☆ China property investment slide deepens in June as structural shift inflicts pain
▼ + stars: | 2023-07-17 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

Property investment in China slid nearly 8% in the first half of the year, official data showed Monday, marking a deepening decline for a sector that accounts for up to a quarter of the world's second-largest economy. The country's property sector is struggling to emerge from a credit crisis after the government cracked down on its debt levels in August 2020. Years of exuberant growth has led to the construction of ghost towns where supply outstrip demand, as developers look to capitalize on the desire for home ownership and property investment. The 7.9% drop in investment for January to June was steeper than the 7.2% drop reported for January to May. China second-quarter growth came in at 6.3% from a year before and 0.8% from the quarter before, underwhelming market expectations yet again.

Persons: China's, China Vanke, Dan Wang, CNBC's Organizations: National Bureau of Statistics, CNBC, Hang Seng Bank Locations: China

PinnedInflation data released on Wednesday showed a pronounced cooling and offered some of the most hopeful news since the Federal Reserve began trying to tame rapid price increases 16 months ago. Officials have signaled in recent weeks that they are likely to raise interest rates at their July 25-26 meeting. For one thing, the cost of housing as measured by the Consumer Price Index — which relies on rent prices — is coming down sharply. The Fed officially targets 2 percent inflation on average over time, though it defines that goal using a separate inflation measure, the Personal Consumption Expenditures index. Interest rates increases work partly by slowing the job market and cooling wage increases, so the Fed’s fight against inflation and the strength of the labor market are closely tied.

Persons: ”, Laura Rosner, Warburton, it’s, . Rosner, Airfares, “, Beth Weaver, Loretta Mester, ” Julia Pollak Organizations: Federal Reserve, Federal, Consumer, Buick GMC, Fed, Federal Reserve Bank of Cleveland, ZipRecruiter Locations: Erie, Pa

PinnedInflation data released on Wednesday showed a pronounced cooling and offered some of the most hopeful news since the Federal Reserve began trying to tame rapid price increases 16 months ago. But Federal Reserve officials are still trying to assess whether the cool down is likely to be quick and complete. Officials have signaled in recent weeks that they are likely to raise interest rates at their July 25-26 meeting. For one thing, the cost of housing as measured by the Consumer Price Index — which relies on rent prices — is coming down sharply. Interest rates increases work partly by slowing the job market and cooling wage increases, so the Fed’s fight against inflation and the strength of the labor market are closely tied.

☆ Nigeria's cost-of-living crisis is getting worse daily after an 'abrupt' fuel hike
▼ + stars: | 2023-07-07 | by ( Nimi Princewill | ) edition.cnn.com time to read: +9 min

“The hike in fuel price has caused a scarcity of passengers,” Hanwa, 50, added. “Before the hike in fuel price, Abuja to Kano was 5,500 ($7.26) but is now 8,500 ($11.22),” he said. Successive governments had carried on with fuel subsidy since its introduction in the 1970s but had also mooted deregulating the country’s oil sector. Along with soaring transport fares, food prices and costs for other essentials have skyrocketed across the country. Economist Bismarck Rewane agrees that halting fuel subsidy “makes economic sense,” but mentions that the saved proceeds from the scheme must be ploughed back into bettering the lives of Nigerians.

Persons: Hanwa, ”, ” Hanwa, Jume Hanwa, Nimi Princewill, Bola Tinubu, Tinubu, Usman Imam, “, Sam Amadi, ” Amadi, ” Fabian Grace, Grace, who’s, Fabian Grace, ” Grace, “ I’ve, I’m, Bismarck Rewane, ” Rewane Organizations: Nigeria CNN —, CNN, CNN Transport, National Petroleum Corporation, ” Travelers, Usman, Abuja School of Social Locations: Abuja, Nigeria, Nigeria’s, Nimi, Kano, Africa’s, Maraba, Nasarawa State, Edo State

☆ Insight: Young Russian lawyers step up to defend anti-war protesters
▼ + stars: | 2023-07-04 | by ( Lucy Papachristou | ) www.reuters.com time to read: +8 min

"I have always had a keen sense of justice," Gominova told a Reuters reporter based in Poland. "Defending protesters in court is my version of protest," said Gominova, who began representing anti-war activists in court almost immediately after the invasion. With numerous civil society groups disbanded by the state, many other lawyers also defend anti-war activists independently, but it is hard to determine how many. Several Russian lawyers have attracted the attention – and condemnation – of authorities, not only for defending critics of the invasion but also for expressing their own opposition. Before the Ukraine conflict, Gominova, in St Petersburg, worked mainly on civil cases ranging from family disputes to consumer rights.

Persons: Young, acquittals, Sofia Gominova, Gominova, Violetta Fitsner, Alexei Navalny, Vladimir Kara, Murza, Russia's, Evgenia Kara, Vladimir, Vadim Prokhorov –, Putin –, Prokhorov, Dmitry Talantov, Ivan Safronov, Maria Bontsler, Anastasia Rudenko, George Orwell's, Yuri Mikhailov, Mikhailov, Filipp Lebedev, Gabrielle Tetrault, Farber, Mike Collett, White, Mark Trevelyan, Andrew Cawthorne Organizations: Russia, Ukraine Lawyers, Petersburg Bar Association, Moscow Bar, Russia's, Ministry, Russian Federation, Reuters, U.S, of America, Facebook, Thomson Locations: Ukraine, acquittals Moscow, Russia, Soviet Union, Poland, St . Petersburg, St, Petersburg, Moscow, Ivanovo, Russian, St Petersburg, Tbilisi, Geneva

But under a Colorado public accommodations law, she said she cannot post the statement because the state considers it illegal. The ruling – rooted in free speech grounds – will pierce state public accommodation laws for those businesses who sell so-called “expressive” goods. It is the latest victory for religious conservatives at the high court and will alarm critics who fear the current court is setting its sights on overturning the 2015 marriage case. When the Supreme Court agreed to hear the case in February 2022, the justices sidestepped whether the law violated Smith’s free exercise of religion. In court, Waggoner said that the law works to compel speech in violation of the First Amendment.

Persons: Justice Neil Gorsuch, John Roberts, Samuel Alito, Amy Coney Barrett, Brett Kavanaugh, Clarence Thomas, Justice Sonia Sotomayor, Elena Kagan, Ketanji Brown Jackson, Lorie Smith, Gorsuch, ”, Smith’s, ” Gorsuch, Sotomayor, “, ’, Kristen Waggoner, Matthew Shepard, ” Sotomayor, Bostock, Trump, Kelley Robinson, Ritchie Torres, ” Torres, Waggoner, Smith, Smith –, –, ” Smith, ” Waggoner, Eric Olson Organizations: CNN, Chief, U.S, Supreme, Pride Month, Civil, American Civil Liberties Union, ”, Democratic, Twitter, Appeals Locations: Colorado, United States, Clayton County

Velyka Novosilka, Ukraine CNN —Under clear and sunny skies, a Ukrainian soldier speeds down a long, straight road toward forward positions close to the front line. Combat medic "Winnie" says he and his fellow physicians try to provide first aid to advancing Ukrainian forces as soon as possible and reduce the amount of casualties. Vasco Cotovio/CNNUkrainian forces have been working to stabilize some of the liberated villages but when CNN visited Velyka Novosilka, the situation remained very fluid. But I think we will win.”The frontline town of Velyka Novosilka bears the scars of a year and a half of shelling. That superiority was on full display during the CNN team’s visit when the Ukrainian forces came under repeated attack by Russian Su-25 ground attack fighter jets.

Persons: Velyka Novosilka, swerves, ”, Vasco Cotovio, “, Winnie, “ There’s, ” Velyka, Jaeger, Mara, ” Skrypal, Novosilka, Jaeger Brigade’s, Vasyl Matyiev, ” Matyiev, Ukraine's, Russian Su, Velyka, “ I’ve, Tatiana, – Organizations: Ukraine CNN, CNN, CNN Ukrainian, Vasco, intel, 68th Jaeger, Ukrainian, “ Volunteers Locations: Ukraine, Ukrainian, Velyka, Neskuchne, Russia, Western, Moscow, Russian, Bakhmut, Velyka Novosilka

☆ Christians caught with a Bible in North Korea have faced death and had their families, including children, thrown in prison for life, a new report says
▼ + stars: | 2023-05-26 | by ( Ryan Pickrell | ) www.businessinsider.com time to read: +5 min

North Korea offers freedom of religion to its citizens on paper but not in practice. A recently released Department of State report notes that while North Korea constitutionally allows for religious freedom, there is no such thing in practice. One NGO, Open Doors USA, has reported that for Christians in North Korea, life is a "constant cauldron of pressure" and "capture or death is only a mistake away." The North Korea flag flutters next to barbed wire at the North Korean embassy in Kuala Lumpur, Malaysia. That report found that North Korea "denied the rights to freedom of thought, conscience, and religion" and engaged in "crimes against humanity."

☆ A body odor buffet reveals which scents attract mosquitoes
▼ + stars: | 2023-05-19 | by ( Kate Golembiewski | ) edition.cnn.com time to read: +7 min

CNN —Anyone who has spent a summer evening swatting away mosquitoes, or a summer day scratching mosquito bites, can agree: Mosquitoes stink. In a scientific report published Friday, scientists helped pinpoint the different chemicals in body odor that attract these insects by building an ice-rink size testing arena and pumping in the scents of different people. Hundreds of mosquitoes in the main 20-by-20-meter facility were then treated to a buffet of the sleeping subjects’ scents. The researchers found what many who have been on a picnic would attest to: Some people attract more mosquitoes than others. (Vosshall said that even scrubbing with unscented soap doesn’t get rid of the natural scents that attract mosquitoes.)

An economic setback on the eve of a presidential runAfter months of anticipation, Gov. Ron DeSantis of Florida is expected to formally declare his candidacy for president next week, officially taking on Donald Trump for the Republican nomination. DeSantis dismissed Trump’s chances for victory. During the call, he said that just “two have a chance to get elected president — Biden and me.” Mr. DeSantis also ticked off his list of legislative accomplishments. He undoubtedly is on strong financial footing, with more than $80 million expected to be transferred from his state account to his Super PAC, which has already raised more than $30 million.

☆ Amazon Labor Union's vice president faces criminal charges over allegations he choked his girlfriend
▼ + stars: | 2023-05-03 | by ( Jack Newsham | Katherine Long | ) www.businessinsider.com time to read: +9 min

Police bodycam video shows Derrick Palmer, the vice president of the Amazon Labor Union, admitting to strangling his girlfriend. The second-highest-ranking official in the Amazon Labor Union is facing felony charges over claims that he strangled his girlfriend last year, according to police records and body-cam video obtained by Insider. The charges against Palmer are the latest potentially damaging revelation about the leadership of the Amazon Labor Union, the only union to successfully organize an Amazon facility. Palmer, left, and Amazon Labor Union president Chris Smalls arrive at an Ebony magazine gala in October 2022. Historically, union officers removed under the law have been convicted of fraud, embezzlement, or extortion, Logan said.

☆ Picasso: Love Him or Hate Him?
▼ + stars: | 2023-04-05 | by ( Deborah Solomon | April | ) www.nytimes.com time to read: +14 min

It is not hugely cool to profess a love for Picasso these days. This is what Picasso’s detractors — like Hannah Gadsby, the Australian comedian and Picasso basher, who will help curate a Picasso show at the Brooklyn Museum opening on June 2 — often miss. Picasso, by contrast, brought the weight of lived experience into his work, even when he was tethered to archetypal subjects. “The Mother” (1901), an early painting by Picasso, shows a view of motherhood purged of Renaissance idealization. The conventional view of the painting holds that the women are “dolled-up cocottes,” as John Richardson glibly put it in his biography of Picasso.

☆ Some Israeli army reservists rule out call-up if judiciary weakened
▼ + stars: | 2023-03-23 | by ( Emily Rose | ) www.reuters.com time to read: +6 min

"I've told the army that if the judicial reform passes (in parliament) I won't continue to come," Colonel N told Reuters, asking not to be further identified. Most Israelis are conscripted into the military for 2-3 years, and some continue as reservists into middle age. While reservists have helped Israel prevail in a string of wars, the army has relied recently on standing forces. 'HUGE DAMAGE'Experts warn the Israeli military could be weakened by reservists rejecting call-ups. "This definitely inflicts huge damage on the capability and capacity of the Israeli forces," Israel Ziv, a former head of army operations, told Reuters.

☆ Move over Ben Franklin: Laser lightning rod electrifies scientists
▼ + stars: | 2023-01-16 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

[1/4] The Laser Lightning Rod, an experimental lighting protection device that diverts the path of lightning bolts using a high-power laser, is seen in action at the top of Mount Santis in Switzerland in this undated photograph. Scientists now are moving to improve on that 18th century innovation with 21st century technology - a system employing a high-powered laser that may revolutionize lightning protection. With further development, this Laser Lightning Rod could safeguard critical infrastructure including power stations, airports, wind farms and launchpads. In experiments during two months in 2021, intense laser pulses - 1,000 times per second - were emitted to redirect lightning strikes. Houard anticipated that 10 to 15 years more work would be needed before the Laser Lightning Rod can enter common use.

Millions of football fans held their breath for close to 20 long minutes Monday night when Buffalo Bills’ Damar Hamlin had a cardiac arrest after making a routine tackle. In the largest study conducted on the subject, 99% of former NFL players showed signs of chronic traumatic encephalopathy (CTE), a devastating neurodegenerative disease caused by repeated head trauma. Another key study showed that 40% of retired NFL players have traumatic brain injury, with no correlation between the number of concussions and the severity of the injury. Seau’s death brought the issue of traumatic brain injury to a boiling point, and yet the league’s steps to address the issue appear to be little more than Band-Aids. He raised his hands in an unnatural movement that can be a sign of traumatic brain injury.

☆ Indiana is suing TikTok over claims it misled users about child safety and data security
▼ + stars: | 2022-12-08 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

The lawsuits center on the safety of user data and the treatment of younger users. One of the lawsuits alleges that TikTok promotes content to young users that isn't age-appropriate. One of the lawsuits alleges that TikTok promotes content to young users that isn't age-appropriate, per court documents. The other lawsuit alleged that users' data can be accessed by Chinese authorities. A spokesperson for TikTok told Insider: "The safety, privacy and security of our community is our top priority.

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