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☆ Falling stocks, climbing mortgage rates: how 5% Treasury yields could roil markets
▼ + stars: | 2023-10-20 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +5 min

Expectations that the Federal Reserve will keep interest rates elevated and mounting U.S. fiscal concerns are among the factors driving the move. Because the $25-trillion Treasury market is considered the bedrock of the global financial system, soaring yields on U.S. government bonds have had wide-ranging effects. "The longer we remain at higher interest rates, the more likely something is to break." Elon Musk warned that high interest rates could sap electric-vehicle demand, which knocked shares of the sector on Thursday. Reuters GraphicsThe U.S. dollar has advanced an average of about 6.4% against its G10 peers since the rise in Treasury yields accelerated in mid-July.

Persons: Brendan McDermid, Gennadiy Goldberg, Jerome Powell, Powell, Elon Musk, Tesla’s, gravitating, Athanasios Vamvakidis, Saqib Iqbal Ahmed, Ira Iosebashvili, Stephen Coates Organizations: New York Stock Exchange, REUTERS, Treasury, Federal Reserve, TD Securities, Reuters, Global Research, Reuters Graphics, ICE, Fed, Thomson Locations: New York City, U.S, New York, Treasuries

☆ Fed Chair Powell to deliver remarks during uncertain moment for the US economy
▼ + stars: | 2023-10-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Federal Reserve Chair Jerome Powell is set to deliver remarks during a moderated discussion hosted by the Economic Club of New York at 12 pm ET on Thursday. The yield on the benchmark 10-year US Treasury note reached its highest level since 2007 on Wednesday, while 30-year Treasury yields breached the 5% mark. That’s a welcome development for the Fed, but officials aren’t quite yet ready to declare victory. Inflation is still above the Fed’s 2% target, and officials have said they need to see further evidence of the economy cooling. Employers added a robust 336,000 jobs in September, while the unemployment rate held at a low 3.8% that month.

Persons: Jerome Powell, Philip Jefferson, That’s, ”, Mary Daly Organizations: DC CNN — Federal, Economic, of New, Treasury, ” San Francisco Fed, Traders, Commerce Department Locations: Washington, of New York, June’s, ” San, Israel

Biden’s diplomatic task gets harderPresident Biden landed in Israel on Wednesday for a high-wire diplomatic mission that is facing new challenges by the minute. All that threatens to become what investors have feared: a rapid escalation of violence that could roil markets, upsetting a fragile global economy. Before departing for Israel, Biden said he was “outraged and deeply saddened” by the blast at Ahli Arab Hospital. Palestinians blamed an Israeli airstrike, and Israelis cited an errant rocket fired by an armed Palestinian faction. Israeli forces are clashing with Iranian-backed Hezbollah forces based in southern Lebanon.

Persons: Biden, Jordan, Benjamin Netanyahu, ” Organizations: of Islamic Cooperation, Israel, Arab Hospital Locations: Israel, Gaza, Iran, Palestinian, Lebanon

☆ 'I'd been suicidal for days': Sam Bankman-Fried lieutenant testifies about immense pressure to keep FTX crypto scam going — before it all crashed
▼ + stars: | 2023-10-17 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +13 min

He testified at the Sam Bankman-Fried trial that he was 'suicidal' over the crypto scam. AdvertisementAdvertisement"I've always been intimidated by Sam," Singh testified Monday. Before the September 2022 realization that Alameda was taking FTX customer money, Singh had participated in fraudulent activity in other ways. When he returned, the FTX CEO told Singh that he believed he could get $5 billion more in investments, Singh testified. As the chaos continued to roil FTX, Bankman-Fried, Ellison, and other executives pointed fingers at each other while employees and customers demanded answers, Singh said.

Persons: Nishad Singh, Sam Bankman, —, Singh, Gary Wang, Caroline Ellison, Wang, Fried, unsurprised, Ellison —, Ellison, FTX wouldn't, he'd, Gabe Bankman, Adam Yedidia, Singh —, Ryan Salame —, Singh's, Sam, FTX, Mary Altaffer, Anthony Scaramucci, Seth Wenig, Salame —, funneling, Coindesk, FTX —, Binance, Jane Rosenberg Bankman, Bankman, I'd, roil Organizations: Service, Alameda Research, Bankman, Alameda, AP, Democratic, Prosecutors, REUTERS Locations: Alameda, FTX, Bahamas, Manhattan, New York, Bankman

☆ 'Higher for longer' isn't just about rates: Here's how to play elevated everything
▼ + stars: | 2023-10-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Each "higher for longer" item carries investment implications. Here's a look at how each category breaks down: Interest rates "I do subscribe to the new moniker, 'higher for longer.' That statement came from someone who nevertheless thinks the central bank doesn't have to take rates any higher than where they are now. Defense spending Geopolitical tensions, such as the wars in Ukraine and Israel, as well as the "cold war in Asia," should lead to an increase in defense spending around the world. In 2022, global defense spending hit a record $2.2 trillion, Quinlan said, citing Stockholm International Peace Institute data.

Persons: Joseph Quinlan, Merrill Lynch, Quinlan, Patrick Harker Organizations: Federal Reserve, Bank of America Private Bank, Philadelphia Fed, Investors, Defense, Stockholm International Peace Institute Locations: Israel, U.S, Ukraine, Asia, Stockholm, Washington

☆ Harvard is temporarily closing off its historic center to visitors at night, as backlash continues to roil against students blaming Israel for Hamas' attacks
▼ + stars: | 2023-10-13 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Harvard told students in an email that its historic center would be closed to non-ID holders nightly until Monday, the Harvard Crimson reported. Harvard Yard is the oldest part of the university campus and is where most freshman dormitories are housed. The move comes amid an escalating backlash against student groups that cosigned a letter blaming Israel for the Hamas attacks. AdvertisementAdvertisementHarvard is closing off its historic center, Harvard Yard, to visitors at night until Monday, amid an escalating backlash against students who cosigned a letter blaming Israel for the Hamas attacks, the Harvard Crimson reported Thursday, citing an email sent to students. Harvard Yard is a 25-acre green space that is the oldest part of the university campus and is where most freshman dormitories are housed.

Persons: Israel, —, Meredith Weenick, Bill Ackman, Larry Summers, Jason Furman, Boaz Barak, Harvard Hillel Organizations: Harvard, Harvard Crimson, Service, Harvard Yard, Harvard University Police Department Locations: Israel

☆ Viasat won't replace damaged Americas satellite, moves up financial targets
▼ + stars: | 2023-10-12 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

A long-exposure photo shows a trail left by SpaceX's Falcon Heavy rocket while launching the ViaSat-3 Americas satellite from Florida on April 30, 2023. Viasat shares rose on Thursday after the company said it expects to meet financial growth targets earlier than expected and that it won't need to replace a damaged $750 million communications satellite. Viasat expects to be free cash flow positive in the first half of 2025, earlier than the second half of 2025 it previously forecast. The company in July disclosed the malfunction with the recently launched Viasat-3 Americas satellite, also known as "ViaSat-3 F1," that occurred while deploying the reflector of the spacecraft's antenna. Together, the pair of Viasat insurance claims total $768 million, which industry executives previously expected would roil the specialty space insurance market.

Organizations: ViaSat, Viasat Locations: Florida, Americas

As of now, neither House Majority Leader Steve Scalise nor Rep. Jim Jordan – the two declared GOP candidates in the race – have locked down 217 votes, the necessary number to be elected speaker by a majority vote of the full chamber. The uncertain vote math has raised questions over how and when the GOP majority will be able to elect a new speaker, particularly as infighting continues to roil House Republican ranks. “I’d put it at 2%,” he said when asked by a reporter what the chances are there will be a new House speaker by Wednesday. After his removal as speaker in a historic vote last week, McCarthy announced he would not run again for the post. Read more about the race for House speaker here.

Persons: Kevin McCarthy’s, Steve Scalise, Jim Jordan –, Mike Garcia, it’s, “, Thomas Massie, I’d, ”, McCarthy, Wednesday’s, Read Organizations: Republicans, GOP, Republican, California Republican, Kentucky Locations: California

☆ Billionaire investor Jeff Gundlach warns of a recession as markets roil: 'Buckle up'
▼ + stars: | 2023-10-04 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

"If the unemployment rate ticks up just a couple of tenths it will be recession alert," Gundlach wrote on X. AdvertisementAdvertisementBond-market turmoil could be a sign that a recession is on the way, Jeff Gundlach has warned. "The US Treasury yield curve is de-inverting very rapidly," Gundlach wrote in a post on X. That "should put everyone on recession warning, not just recession watch," he added. That's led to the gap in returns offered by 2- and 10-year Treasurys narrowing to just 33 basis points, for the tightest yield curve since late March.

Persons: Jeff Gundlach, Gundlach, Buckle, —, That's, –, David Lebovitz Organizations: DoubleLine, Service, Treasury, Federal Reserve, London School of Economics, JPMorgan

Naming Laphonza Butler to fill the late Sen. Dianne Feinstein's seat appears to meet California Gov. Or has Newsom just given Butler a massive boost in becoming the Golden State's fourth elected female senator? And while critics have pointed out that her address until the appointment was in Maryland, Butler "is deeply ingrained in the DNA of California politics." Butler, who will be sworn into the Senate this week, Senate Majority Leader Chuck Schumer said Monday morning, hasn't indicated whether she wants to stay in the job. She will become the first openly lesbian Black senator and the second Black female senator from California (Vice President Kamala Harris was the first).

Persons: Laphonza Butler, Sen, Dianne Feinstein's, Gavin Newsom's, Newsom, Butler, Feinstein, Adam Schiff, Katie Porter, Barbara Lee, Porter, Lee, Mike Madrid, I'm, Chuck Schumer, hasn't, Ron DeSantis, Kamala Harris, Emily’s, Dianne Feinstein, –, Aimee Allison, Ted Limpert, Limpert, Schiff, Michael Thorning, Thorning Organizations: California Gov, Democratic, Schiff, Republican, Florida Gov, Senate, Congressional Black Caucus, Press, CNN, UC Berkeley, Center, – Locations: California, Maryland, Madrid, Florida, Washington, Golden State

Shares in Asia were mostly lower on Monday, with Tokyo the only major regional market to advance, after Wall Street wheezed to more losses with its worst week in six months. Worries over China’s property sector, a U.S. government shutdown and the continued strike by American autoworkers were weighing on investor sentiment. The retreat has deepened with Wall Street’s growing understanding that interest rates likely won’t come down much anytime soon. Pressure has built on Wall Street as yields in the bond market climbed to their highest levels in more than a decade. The Nasdaq composite, which is full of tech and other high-growth stocks, slumped 3.6% for its worst week since March.

Persons: Hang Seng, Australia's, They’d, Shawn Fain, Ford, It’s, Brent Organizations: American, China Evergrande, Dow Jones, Nasdaq, Federal Reserve, U.S, Motors, United Auto Workers, Auto, Treasury, that’s, Nvidia, Microsoft’s, Activision, Microsoft, New York Mercantile Exchange Locations: Asia, Tokyo, U.S, China, Shanghai, Seoul, American

☆ The U.S. federal government is headed into a shutdown. What does it mean, who’s hit and what’s next?
▼ + stars: | 2023-09-23 | by ( ) www.cnbc.com time to read: +6 min

Federal agencies will stop all actions deemed non-essential, and millions of federal employees, including members of the military, won't receive paychecks. A shutdown happens when Congress fails to pass some type of funding legislation that is signed into law by the president. Millions of federal workers face delayed paychecks when the government shuts down, including many of the roughly 2 million military personnel and more than 2 million civilian workers across the nation. Nearly 60% of federal workers are stationed in the Defense, Veterans Affairs and Homeland Security departments. Beyond federal workers, a shutdown could have far-reaching effects on government services.

Persons: Samuel Corum, Kevin McCarthy's, Goldman Sachs, General Merrick Garland, Donald Trump, Hunter Biden, Joe Biden, Trump, Republicans defund, Benjamin Civiletti, Bill Clinton's, Newt Gingrich Organizations: Getty, Democratic, Republican, Defense, Veterans Affairs and Homeland Security, Transportation Security, Postal Service, U.S . Travel Industry Association, Lawmakers, U.S . Chamber, Commerce, Republicans, U.S, Democrats Locations: Washington , DC, shutdowns

Persons: Kevin McCarthy's, Goldman Sachs, “, General Merrick Garland, Donald Trump, Hunter Biden, Joe Biden, Trump, Republicans defund, Benjamin Civiletti, Bill Clinton's, Newt Gingrich, isn't, Fatima Hussein, Lindsay Whitehurst, Josh Boak, Lisa Mascaro Organizations: WASHINGTON, Democratic, Republican, WHO, Defense, Veterans Affairs and Homeland Security, Transportation Security, Postal Service, U.S . Travel Industry Association, Lawmakers, U.S . Chamber, Commerce, Republicans, U.S, Democrats, Senate, Associated Locations: shutdowns

The U.S. National Hurricane Center discontinued a tropical storm warning for the coast of Maine, while Environment Canada ended its tropical storm warning in New Brunswick. Political Cartoons View All 1163 ImagesA tropical storm warning remained in effect for parts of New Brunswick, Nova Scotia, Prince Edward Island and the Magdalen Islands. Lee flooded coastal roads in Nova Scotia and took ferries out of service while fanning anxiety in a region still reeling from wildfires and severe flooding this summer. In eastern Maine, winds died down enough by late afternoon Saturday for utility workers to begin using bucket trucks to make repairs. Central Maine Power and Versant Power had hundreds of workers, including out-of-state crews, assisting the effort.

Persons: Lee, Prince Edward Island, Pam Lovelace, “, Brian Lunt, Lunt, Power, ”, Sarah Thunberg, Billy Bob Faulkingham, Danny Mitchell, ” Mitchell, Betsy Follansbee, Fred, jogged, “ We’re, ” Follansbee, Maine’s, Ren Renton, Sandy, Hurricane Fiona, Jill Maepea, ___ Sharp, Robert Bumsted, Patrick Whittle, Michael Casey, Mark Thiessen, Rob Gillies, Kathy McCormack Organizations: BAR, Maritime, U.S, National Hurricane Center, Environment Canada, Canadian, Magdalen, Authorities, Halifax Stanfield International, New Brunswick, Police, Central Maine Power, National Weather Service, Republican, Maine Legislature, Winter Harbor Police, Associated Press Locations: Maine, New England, Maritime Canada, New Brunswick, Halifax , Nova Scotia, Eastport , Maine, Maine , New Brunswick, Nova Scotia, U.S, Bar Harbor , Maine, Acadia, Halifax, New, Searsport , Maine, Massachusetts, Portland , Maine, Bar Harbor, Higgins, Scarborough , Maine, Maine’s Bailey, of Maine, New York, New Jersey, Hurricane, Canada, Canadian, England, Cape Elizabeth , Maine, Boston, Rio, Las Vegas, Anchorage , Alaska, Toronto, Concord , New Hampshire

☆ Argentina government expects economic rebound, inflation slowdown in 2024
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, Sept 16 (Reuters) - Argentina's economy is expected to grow 2.7% in 2024 after contracting 2.5% this year, according to a budget proposal sent by the economy ministry to Congress late on Friday. The government also expects the country to have an annual inflation rate of 135.7% in 2023 and 69.5% in 2024. The budget proposal also shows the government expects the country's currency to weaken sharply next year to 607 pesos per dollar from the 365.9 pesos per dollar expected for 2023. Monthly inflation hit 12.4% in August, the highest figure since 1991. Reporting by Hernan Nessi; Writing by Carolina Pulice; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Hernan Nessi, Carolina Pulice, Paul Simao Organizations: International Monetary Fund, Thomson Locations: BUENOS AIRES

Newly installed Foreign Minister Qin Gang vanished with scant explanation in July, the same month as an abrupt shake-up of the military's elite Rocket Force, which oversees China's nuclear arsenal. China's Foreign Ministry did not immediately respond to a request for comment on Saturday. PROXIMITY ISN'T PATRONAGERegarding Defence Minister Li's disappearance and investigation, a ministry spokeswoman told reporters on Friday she was not aware of the situation. With corruption long permeating China's military and state institutions, some analysts and diplomats believe Xi's anti-graft crackdowns mark political purges across the Communist Party. If Li's fate "reflects Xi's increasingly inward focus, it is not good for those of us who want greater openness and lines of communications with China's military," said one Asian diplomat.

Persons: Xi Jinping, GIANLUIGI, Xi Jinping's, Li Shangfu, Qin Gang, Drew Thompson, Thompson, Li's, Li, Helena Legarda, Alexander Neill, Zhang Youxia, Lloyd Austin, Austin, Ja Ian Chong, Chong, Greg Torode, Martin Quin Pollard, William Mallard Organizations: Rights, Reuters, Foreign, Rocket Force, Pentagon, National University of Singapore, State Council and Defence Ministry, People's Liberation Army, PLA, Communist Party, Mercator Institute for China Studies, Hawaii's, Military Commission, Washington, U.S . Defence, Pacific ., East, South China Seas, Thomson Locations: Sandton, Johannesburg, South Africa, Rights BEIJING, India, China, Russia, Belarus, Beijing, Jakarta, Berlin, Singapore, Washington, Asia, Pacific, Taiwan, South, East China, South China, Hong Kong

☆ Read Prosecutors’ Request for a Gag Order on Trump
▼ + stars: | 2023-09-15 | by ( ) www.nytimes.com time to read: +3 min

The President of the United States is supposed to represent every American, not to target one. And, lo and behold, when someone as powerful as the President of the United States eggs on a mob, that mob will come. • Likewise, the defendant recently renewed attacks on former Georgia Lieutenant Governor whose harassment the defendant inspired in the aftermath of the election. https://truthsocial.com/@realDonald Trump/posts/109623460421938942; https://truthsocial.com/@realDonald Trump/posts/109623536630848334; https://truthsocial.com/@realDonald Trump/posts/109623623674619588. 11 See CNN, Transcript of CNN's Town Hall with Former President Donald Trump (May 11, 2023), https://www.cnn.com/2023/05/11/politics/transcript-cnn-town-hall-trump/index.html.

Persons: haven't, misconductpublicly, •, Governor, Trumper, @realDonald Trump, Donald Trump Organizations: American, MSNBC, Morning, CNN, CNN's, cnn Locations: United States, Fulton, United, Georgia, Fulton County , Georgia, georgia

Sino-U.S. friction has worsened in recent years as Washington tries to restrict China's access to key technologies including cutting-edge chip technology, and Beijing looks to reduce its reliance on American tech. A customer talks to sales assistants in an Apple store as Apple Inc's new iPhone 14 models go on sale in Beijing, China, September 16, 2022. "This is textbook Chinese Communist Party behavior - promote PRC (People's Republic of China) national champions in telecommunications, and slowly squeeze Western companies' market access," Gallagher, a Republican, told Reuters. The drop in the technology sector weighed on the three main U.S. stock indexes, particularly the tech-heavy Nasdaq Composite, which closed down 0.9%. IPHONE SLOWDOWNChina has been a bright spot for Apple in an otherwise tough period for iPhone sales.

Persons: chipmaker SMIC, Jake Sullivan, Sullivan, Thomas Peter, Biden, Mike Gallagher, Gallagher, Mark Warner, Rick Meckler, Susannah Streeter, Hargreaves Lansdown, Streeter, Aditya Soni, Jaspreet Singh, Shristi Achar, Diane Bartz, David Gaffen, Shounak Dasgupta, Devika Organizations: Apple, Street, Washington, Huawei, HK, U.S . Commerce Department, National, Air Force, BofA Global Research, Qualcomm, REUTERS, Beijing, Communist Party, People's, Republican, Reuters, U.S, Senate Intelligence Committee, planemaker Boeing, Micron, Broadcom, Texas, Nasdaq, Cherry Lane Investments, Hargreaves, Thomson Locations: Beijing, US, China, U.S, Kirin, People's Republic of China, Bengaluru

☆ Analysis: Potential US government shutdown could dent investor confidence
▼ + stars: | 2023-09-08 | by ( David Randall | ) www.reuters.com time to read: +5 min

Investors might be more sensitive to a shutdown this time around, however. With only weeks to go before the deadline, the Republican-led House of Representatives has approved only one of those 12 bills. 'LESS FRIENDLY POLICY'If it occurs, the shutdown would be the fourth over the last decade and would furlough roughly three of out five federal civilian workers. The White House last month said it was working with Congress to hammer out a short-term funding measure to avoid a shutdown while longer-term spending talks continue. Analysts at Ned Davis Research said a shutdown could add to factors threatening to roil the economy into next year.

Persons: Dado Ruvic, Goldman Sachs, Fitch, ”, Jamie Cox, Kevin McCarthy, Joe Biden, Paul Christopher, Christopher, Ned Davis, David Randall, Ira Iosebashvili, Marguerita Choy Organizations: REUTERS, Goldman, Social, Federal, Harris Financial Group, Caucus, House Republican, Republican, Senate, Congressional, Office, Wells, Wells Fargo Investment Institute, Democrats, Ned, Ned Davis Research, CFRA Research, Thomson Locations: Wells Fargo

☆ Morning Bid: Apple and dollar roil markets
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 24, 2023. The broader U.S. tech sector also took a hit, while shares of several major Apple suppliers in Asia slid on Friday. Against a basket of currencies, the dollar is set to clock an eighth straight week of gains. A Reuters poll of forex strategists suggests that the dollar's strength will be difficult to overcome for most major currencies by the end of the year. The pan-European STOXX 600 index (.STOXX) has fallen for seven straight days, its worst string of losses since February 2018.

Persons: Ankur Banerjee, presales, Kim Coghill Organizations: REUTERS, Staff, Ankur, Apple, Huawei Technologies, U.S, Casino, Reuters, Thomson Locations: Frankfurt, Germany, China, Asia, Paris

☆ What happens in Jackson Hole doesn’t stay in Jackson Hole
▼ + stars: | 2023-08-25 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

New York CNN —Most of the year, people visit Jackson Hole, Wyoming, to ski, fly fish or simply enjoy the region’s vast natural beauty. Setting the stage: the economic backdropInflation has slowed significantly since last year’s Jackson Hole conference, alongside glimmers of a cooling labor market. A look back at past Jackson Hole conferencesLast year’s Jackson Hole conference was notable not just because it was the first time in two years that economists gathered in person. Months after Bernanke’s Jackson Hole speech, he unveiled a whole new phase of bond-purchasing in what has now become known as QE2. A columnist for the Financial Times went so far as to say that Draghi “certainly stole the show this year [at Jackson Hole].”No matter what comes out of the conference this year, it’s clear that what happens in Jackson Hole doesn’t stay in Jackson Hole.

Persons: Jackson, Jerome Powell, He’ll, Michael Cahill, Goldman Sachs, Powell, —, Ben Bernanke, ”, Cahill, “, Bernanke’s Jackson, Bernanke, Janet Yellen, “ it’s, ” Cahill, Michael Woodford, John Williams, Williams, European Central Bank Mario Draghi Organizations: New, New York CNN, Federal, Kansas City Fed, Jackson, Fed, Traders, Goldman, CNN, Columbia University, ” New York Fed, San Francisco Fed, European Central Bank, ECB, Financial Times Locations: New York, , Wyoming, Woodstock, Jackson

Police officers stand guard at the Constitucion square, ahead of Sunday's presidential election, in Guatemala City, Guatemala August 19, 2023. Guatemalans now represent the largest number of Central Americans seeking to enter the United States. "I hope that everything is calm, that democracy wins, that there is no fraud or political issues ... and that our country gets ahead more than anything," said Ardem Villagran, 58, a merchant in Guatemala City. Outgoing President Alejandro Giammattei has vowed to ensure an orderly vote and transition of power. Reporting by Cassandra Garrison in Guatemala City, additional reporting by Herbert Villarraga; Editing by Drazen Jorgic and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

Persons: Pilar Olivares, Bernardo Arevalo, Sandra Torres, Arevalo, Ardem Villagran, Alejandro Giammattei, Engel, Eladio Loizaga, Eric Olson, Olson, Cassandra Garrison, Herbert Villarraga, Drazen Jorgic, Cynthia Osterman Organizations: REUTERS, GUATEMALA CITY, Central, U.S . State Department, of American States, OAS, Seattle International Foundation, Thomson Locations: Guatemala City, Guatemala, GUATEMALA, United States, June's, Central America, U.S

"We have waited for this moment for many years," said Carlos de Leon Samayoa, 27, as he celebrated on the streets of Guatemala City. Arevalo unexpectedly emerged out of political obscurity to build a large anti-graft movement with his Semilla party, after many other opposition candidates were barred from running. [1/9]Guatemalan anti-graft presidential candidate Bernardo Arevalo, of the Semilla political party, poses for a photo during the presidential run-off election, in Guatemala City, Guatemala August 20, 2023. "The ruling pact will likely continue to target electoral officials and Arevalo’s Semilla party with investigations ahead of January’s change in government," she said. POLITICAL TENSIONSBeyond his anti-graft policies, Arevalo said he wants to expand relations with China alongside Guatemala's longstanding allegiance with Taiwan.

Persons: Bernardo Arevalo, Arevalo, Sandra Torres, Alejandro Giammattei, revel, Guatemalans, Arevalo's, Carlos de Leon Samayoa, Torres, Guatemala's, Pilar Olivares, Risa Grais, Arevalo’s, Eladio Loizaga, Giammattei, Ana María Méndez, Cassandra Garrison, Sofia Menchu, Herbert Villarraga, Diego, Drazen Jorgic, Stephen Eisenhammer, Miral Fahmy, Stephen Coates, Gerry Doyle Organizations: GUATEMALA CITY, Central, Twitter, REUTERS, Eurasia Group, Organization of American States, Central America, Diego Ore, Thomson Locations: GUATEMALA, Guatemalan, United States, Guatemala, Americas, Guatemala City, June's, China, Taiwan, Taipei, Honduras, America

☆ Rice markets could face further turmoil as Thailand urges farmers to plant less rice
▼ + stars: | 2023-08-03 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Thailand, the world's second largest exporter of rice, is encouraging its farmers to plant less of the crop in a bid to save water — a move that could roil rice markets further following India's export ban. In an effort to conserve water for consumption, the Office of the National Water Resources (ONWR) has called on the country's farmers to turn to "planting crops that use less water [which] can be harvested quickly." Kidtimonton said the country's water management needs to "focus on water for consumption," as well as "water for cultivation mainly for perennial crops." Perennial crops are crops that grow back after harvest and need not be replanted every year, unlike annual crops. Rice is categorized as an annual crop.

Persons: Surasri Kidtimonton, Kidtimonton Organizations: National Water Resources, National Water Administration Locations: Thailand

☆ Reddit throughout the years: Its rise to prominence, recent revolts and IPO plans
▼ + stars: | 2023-07-30 | by ( Katie Brigham | ) www.cnbc.com time to read: +6 min

The price hikes have led some beloved third-party Reddit apps such as Apollo to shut down, instigating an uproar among the website's community of volunteer moderators, who often rely on third-party apps to run the site's 100,000+ discussion communities, called subreddits. But tensions remain high, and some say that if Reddit doesn't rebuild trust, its most passionate users will go elsewhere. Ohanian rejoined Reddit as executive chairman in 2014 and Huffman rejoined as CEO the next year. But it's not just tech giants who use Reddit's API. These third-party apps are largely just alternatives to Reddit's official mobile app, which didn't even exist until 2016.

Persons: Reddit, David DeWald, Alexis Ohanian, Steve Huffman, Paul Graham, Ohanian, Huffman, Y Combinator, Condé Nast, Debra Aho Williamson, George Floyd's, it's, Apollo, Jakub Porzycki Organizations: University of Virginia, Advance, Facebook, Insider Intelligence, GameStop, AMC, Google, Getty

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