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☆ U.S.-led Iraq war ushered in years of chaos and conflict
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +4 min

[1/5] A general view of Tahrir square as demonstrators take part during the ongoing anti-government protests in Baghdad, Iraq November 5, 2019. Here is a look at some of the violence, including suicide bombings and beheadings, that has plagued Iraq, a major OPEC oil producer and key U.S. ally, since the 2003 war. * March 20, 2003 - U.S.-led forces invade Iraq from Kuwait to oust Saddam Hussein. * October 2004 - Al Qaeda leader in Iraq Abu Musab Al-Zarqawi starts waging bloody attacks designed to turn majority Shi’ite Muslims against minority Sunnis in a civil war. * January 2007 - Bush announces a new war strategy including a “surge” of U.S. troops into Iraq to combat the insurgency.

☆ The biggest problem with Russia's tanks in Ukraine is the way Moscow tried to use them
▼ + stars: | 2023-03-07 | by ( Alex Hollings | Sandboxx News | ) www.businessinsider.com time to read: +21 min

By September, the tally of lost and captured Russian tanks reached 1,000 — more than all the tanks in the British, French, German, and Finnish militaries combined. The first time these British tanks found a fight, only 25 of the 49 of them actually moved when ordered to commence the attack. Nonetheless, before the conflict was over, Churchill himself would decide tanks had, once again, run their course, declaring, "we have too much armor — tanks are finished." And that is the real lesson we can glean from the performance of Russian tanks in Ukraine over the past year. Maxim Shemetov/ReutersThis point becomes evident when you look at Russian tank losses recorded by the Oryx Blog between February and April 2022, when Russian tank losses were at their absolute worst.

☆ Pablo Escobar and the real story behind 'Cocaine Bear'
▼ + stars: | 2023-03-05 | by ( Chris Dalby | Insight Crime | ) www.businessinsider.com time to read: +7 min

"Cocaine Bear" depicts an ursine rampage through Georgia's Chattahoochee-Oconee National Forest. The film is a fictionalization of a real event involving a bear finding cocaine thrown from a drug-laden airplane. Plenty has been written on the film's fictionalization of a real event involving a bear finding cocaine thrown from a drug-laden airplane. The real bear, which found packets of cocaine in the forest in 1985, never got a chance to go on a murder spree. The companyFor all its insanity, Cocaine Bear screenwriter Jimmy Warden does include elements of the real story.

☆ Wall Street closes sharply higher, notches weekly gains as Treasury yields ease
▼ + stars: | 2023-03-03 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

The week also saw the benchmark S&P 500 break through its 50- and 200-day moving averages, two closely watched technical levels. [1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 3, 2023. Fourth-quarter earnings season is on the final stretch, with all but seven of the companies in the S&P 500 having reported. This would imply the S&P 500 entered a three-quarter earnings recession in the closing months of 2022, per Refinitiv. The S&P 500 posted 23 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 79 new highs and 57 new lows.

☆ Wall Street rallies, on course for weekly gains as Treasury yields dip
▼ + stars: | 2023-03-03 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 3, 2023. The week also saw the benchmark S&P 500 break through its 50- and 200-day moving averages, two closely watched technical levels. Fourth-quarter earnings season is on the final stretch, with all but seven of the companies in the S&P 500 having reported. This would imply the S&P 500 entered a three-quarter earnings recession in the closing months of 2022, per Refinitiv. The S&P 500 posted 21 new 52-week highs and two new lows; the Nasdaq Composite recorded 73 new highs and 49 new lows.

☆ Air Canada pilots decry 'embarrassing' pay gap with U.S. after Delta deal
▼ + stars: | 2023-03-03 | by ( Allison Lampert | ) www.reuters.com time to read: +2 min

MONTREAL, March 3 (Reuters) - Air Canada (AC.TO) pilots are pressing for higher pay in the run-up to fresh contract talks, following recent gains secured by pilots at U.S. carrier Delta Air Lines (DAL.N), union representatives told Reuters. Delta's latest hourly pay rates are up to 45% higher than current Air Canada hourly pay rates, the Air Canada Pilots Association (ACPA) said in an email. Air Canada pilots have received a 2% wage increase per year, since 2014, said ACPA, which represents about 4,500 pilots. ACPA is in talks to possibly join the Air Line Pilots Association (ALPA), the world's largest pilots' union, representing more than 60,000 pilots in the United States and Canada. Air Canada, which expects to return to 2019 levels of capacity next year, is also facing cost pressures.

☆ China willing to play constructive role in debt talks
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +1 min

BEIJING, March 1 (Reuters) - China is willing to "constructively" participate in solving the debt problems of relevant countries under a multilateral framework, its Premier Li Keqiang said on Wednesday. China, the world's largest bilateral creditor, has criticised multilateral lenders for not accepting losses, or haircuts, on loans to low-income countries while Beijing is being asked to do so on credit it has extended on its own. In a phone call with International Monetary Fund Managing Director Kristalina Georgieva, Li said that solving the debt problems of low-income countries requires the participation of all creditors, according to a China State Department statement. China is a major lender to high-debt countries, such as Ghana and Zambia. Reporting by Meg Shen and Ryan Woo Ediing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ Delta pilots ratify new contract - union
▼ + stars: | 2023-03-01 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +1 min

CHICAGO, March 1 (Reuters) - Pilots at Delta Air Lines (DAL.N) have ratified a new contract, widely expected to be a benchmark for contract negotiations at rival airlines, that includes over $7 billion in cumulative increases in pay and benefits over four years, their union said on Wednesday. Both American Airlines (AAL.O) and United Airlines (UAL.O) have promised an "industry-leading" contract to their pilots. It will cover 15,000 Delta pilots and come into effect on Thursday, The Air Line Pilots Association (ALPA) said. ALPA said that 78% of Delta pilots voted in favor of the contract. The new contract showcases the bargaining power pilots are enjoying as carriers rush to staff up to keep up with travel demand.

☆ African migrants suffer under crackdown in Tunisia
▼ + stars: | 2023-03-01 | by ( Angus Mcdowall | ) www.reuters.com time to read: +5 min

[1/4] Ivory Coast nationals living in Tunisia and seeking repatriation, wait outside the embassy of Ivory Coast in Tunis, Tunisia February 27, 2023. Social media has, meanwhile, filled with accounts by darker-skinned people in Tunisia, including migrants with and without valid visas, African students and Black Tunisians, of ill treatment and fear. Official figures say there are 21,000 migrants from sub-Saharan African countries in Tunisia. Tunisia introduced visa-free travel for many African countries over the past decade. Many migrants in Tunisia aim to cross illegally to Europe but cannot afford the hundreds of dollars to get to Italy - a journey also taken by growing numbers of Tunisians.

☆ No Place Like Rome: Unlock the City’s Old-World Romance at These Historic Hotels
▼ + stars: | 2023-02-23 | by ( Tony Perrottet | Photographs Francesco Lastrucci For The Wall Street Journal | ) www.wsj.com time to read: +1 min

Among the most illuminating ways travelers can explore the Eternal City’s kaleidoscopic history is through its illustrious hotels. Each palatial structure is part of the modern city’s fabric but also embodies a specific moment in time. And thanks to the welcoming Roman manner, even non-guests can stop in for a coffee or aperitif while taking in the old-world ambience. A brief sojourn to these grand getaways provides a peek into Rome’s history and allows visitors to sample cultural riches along the way. Mosaics from the exedra, or changing hall, have been preserved, and history buffs can hire the hotel’s archaeologist-guide for insights.

☆ Carvana's net loss widens on cooling used car demand
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

Companies Carvana Co FollowFeb 23 (Reuters) - Carvana Co (CVNA.N) said on Thursday its net loss rose over nine-fold in the fourth quarter hurt by shrinking demand for pre-owned vehicles, sending its shares down 5% in extended trade. The debt-laden used car retailer has been struggling to sell cars it acquired at elevated rates last year when semiconductor shortages hampered supply of new cars. Carvana, known for its automated car vending machines, allowed users to buy used cars online and offered home deliveries, which made it popular during the COVID-19 pandemic when people were confined to their homes. However, demand of used cars has cooled following an improved availability of new cars and as people look for alternative means to commute in an attempt to trim expenses with a higher interest rates. Carvana posted a fourth-quarter net loss of $806 million, or $7.61 per class A share, up from a loss of $89 million, or $1.02 per class A share, a year earlier.

[1/2] Television equipment is seen outside the U.S. Supreme Court as Justices hear oral arguments on Twitter's appeal to an anti-terror law violation, in Washington, U.S., February 22, 2023. Both lawsuits were brought under a U.S. law that enables Americans to recover damages related to "an act of international terrorism." Conservative Justice Neil Gorsuch said the statute focuses liability on aiding a person who engaged in a terrorist act. Islamic State called the attack revenge for Turkish military involvement in Syria. In the Twitter case, the San Francisco-based 9th U.S.

Biden said the West was never plotting to attack Russia and the invasion was Putin's choice. "It is a big mistake," Biden said of Putin's decision before his session with eastern European allies known as the Bucharest Nine. We will defend literally every inch of NATO, every inch of NATO," he said. The Kremlin says it regards NATO, which could soon expand to include Sweden and Finland, as an existential threat to Russia. It said the leaders looked forward to further strengthening unity and collective defense at a NATO summit in Vilnius in July.

☆ Top brands pull out of Russia, but their goods remain easy to find
▼ + stars: | 2023-02-22 | by ( Alexander Marrow | ) www.reuters.com time to read: +8 min

Brands' continued availability shows the challenge companies face in controlling supply chains when exiting a market. Market leader Wildberries sells old stock from Inditex brands and has almost 17,000 goods in its Zara catalogue. Informal supply routes could lead to more poor-quality goods entering Russia, however, as regulators lose oversight, Ben Tzion said. IKEA brand owner Inter IKEA Group said it sold remaining stock for an undisclosed amount to Yandex as it down-scaled IKEA Retail Russia. IKEA said it was looking into goods being advertised as similar to IKEA online.

☆ Supreme Court considers whether Twitter can be held liable for failing to remove terrorist content
▼ + stars: | 2023-02-22 | by ( Lauren Feiner | ) www.cnbc.com time to read: +5 min

The Supreme Court heard arguments Wednesday in a case that will help determine whether social media platforms can be held liable for aiding and abetting terrorism for failing to remove content and accounts promoting it. The case revolves around a specific international terrorist act, and contends that Twitter should be held accountable for not taking aggressive enough action against that content on its platform. Justice Elena Kagan at one point asked Waxman whether Twitter could be held liable if it actually didn't enforce any policy against terrorist content on its site. Justice Ketanji Brown Jackson asked if it would be illegal to sell Osama bin Laden a phone without knowing it would be used for a terrorist specific terrorist act. Schnapper said it would not be necessary to prove the phone was used for a specific terrorist act, because it "aids the terrorist enterprise."

WARSAW, Feb 22 (Reuters) - U.S. President Joe Biden will meet leaders of NATO's eastern flank on Wednesday to show support for their security after Moscow suspended a landmark nuclear arms control treaty. Hours earlier, Putin delivered lengthy remarks laden with criticism of the Western powers, blaming them for the war in Ukraine. At the meeting, Biden plans to reaffirm commitments over their security and discuss support for Ukraine before he returns to Washington. "Lithuania and other like-minded countries have several requests, which concern air defence, forward defence presence, air defence systems, and greater investments in the defence industry," Asta Skaisgiryte said. The former Soviet republic on Russia's doorstep joined NATO in 2004 and plans to host Biden in July for the security alliance's leaders' summit.

As a result, the world's largest listed miner reported underlying profit attributable from continuing operations of $6.6 billion, down from $9.72 billion a year earlier. That missed a Vuma Financial estimate of $6.82 billion, as earnings from copper and coal came in lower than analysts had expected. Shares of the global miner fell as much as 2.8% to A$47.11, their lowest since Jan. 6 and were down 2% at 0138 GMT in a broader market (.AXJO) that was down 0.5%. BHP also said it expected aggressive global interest rate hikes from last year to slow growth sharply across the developed world. BHP has threatened not to invest in Queensland after the state hiked its coal royalties to the highest rate in the world.

☆ South African cities scramble to keep the lights on
▼ + stars: | 2023-02-21 | by ( Carien Du Plessis | ) www.reuters.com time to read: +4 min

Officials plan to procure up to 500 megawatts (MW) from private power companies by 2026 to provide roughly a third of the city's annual 1,500-1,800 megawatts (MW) electricity needs. [1/5] A woman tests LED lights on a solar panel at their factory called Ener-G-Africa, where they produce high-quality solar panels made by an all-women team, in Cape Town, South Africa, February 9, 2023. The neighbouring Ekurhuleni municipality has signed deals with 46 private power companies for 700 MW, according to its 2020/2021 annual report. Hill-Lewis said Cape Town also plans to change its energy policy to allow households and businesses that produce solar power to sell the excess to the city. In Cape Town, for those wanting to sell excess power to the city, a 12,000 rand feed-in meter is required.

SummarySummary Companies H1 profit misses estimateInterim dividend beats estimatePositive on demand outlook from ChinaStarts process to sell two Queensland met coal minesFeb 21 (Reuters) - Global miner BHP Group (BHP.AX) was positive about demand outlook through to fiscal 2024 as top metals consumer China reopens and shifts policy towards its debt-laden property sector, the company said on Tuesday after its 2023 first-half profit missed estimates. However, its interim dividend of 90 cents per share, while lower than last year's $1.50 per share, beat Vuma Financial's estimate of 88 cents. "We are positive about the demand outlook in the second half of fiscal 2023 and into fiscal 2024, with strengthening activity in China on the back of recent policy decisions the major driver," Chief Executive Officer Mike Henry said. But the reopening of the world's second-biggest economy and a property sector policy shift has BHP upbeat on the commodity demand outlook. However, in an environment where central banks are aggressively tightening their monetary policy, BHP expects its operating environment to remain volatile in the near term, but expects China to be a source of stability for commodity demand.

☆ Cost of EDF's new UK nuclear project rises to $40 billion
▼ + stars: | 2023-02-20 | by ( America Hernandez | ) www.reuters.com time to read: +2 min

PARIS, Feb 20 (Reuters) - EDF's (EDF.PA) new nuclear plant in southwest England is likely to cost about 2% more than its last budget estimate as inflation propels the price tag to almost 33 billion pounds ($40 billion), EDF documents show. EDF warned in a results presentation on Friday the cost of the Hinkley Point C project, Britain's first new nuclear plant in more than two decades, "could reach 32.7 billion pounds" based on inflation indexes as of June 30, 2022. Its previously published cost estimate in May 2022 was 31-32 billion euros when adjusted for inflation. The company last week reported a record net loss of 17.9 billion euros ($19.1 billion). The project is already a decade overdue, with EDF initially saying it would be powering British homes in 2017.

☆ Helen Mirren: Starring in 'Golda' like playing British monarch
▼ + stars: | 2023-02-20 | by ( Miranda Murray | ) www.reuters.com time to read: +2 min

BERLIN, Feb 20 (Reuters) - For Helen Mirren, playing Israel's only female prime minister, Golda Meir, was not unlike a role as a British monarch. "Golda," which premiered at the Berlin Film Festival on Monday, focuses on Meir's leadership during the Yom Kippur War between Israel and a coalition of Arab states in October 1973. "It's not a biopic, it's not her whole life, it's just a little section where she's most challenged," said Mirren. Mirren is nearly unrecognizable as Meir thanks to prosthetics and a make-up regimen that took hours, re-creating the Israeli leader's nicotine-stained fingers and swollen ankles. Nattiv also explained his decision to cast Mirren even though she is not Jewish, saying that besides being an excellent actor, she felt like a family member.

☆ Debt-laden African countries charged 'extortionate' rates, U.N. chief says
▼ + stars: | 2023-02-18 | by ( Dawit Endeshaw | ) www.reuters.com time to read: +3 min

ADDIS ABABA, Feb 18 (Reuters) - African countries are getting a raw deal from the international financial system which charges them "extortionate" interest rates, the U.N. chief said on Saturday, as he announced $250 million in crisis funding, including for famine risk on the continent. "The global financial system routinely denies (developing countries) debt relief and concessional financing while charging extortionate interest rates," he said. The coronavirus pandemic pushed many poor countries into debt distress as they were expected to continue servicing their obligations in spite of the massive shock to their finances. Public debt ratios in sub-Saharan Africa are at their highest in more than two decades, the International Monetary Fund said last year. "African countries cannot... climb the development ladder with one hand tied behind their backs," Guterres said.

☆ Angry Ohio townspeople seek answers on train's toxic spill
▼ + stars: | 2023-02-16 | by ( Brad Brooks | ) www.reuters.com time to read: +5 min

Norfolk Southern officials did not attend the meeting, saying they feared violence. The Norfolk Southern Railroad-operated train's derailment caused a fire that sent a cloud of smoke over East Palestine. After railroad crews drained and burned off a toxic chemical from five tanker cars, residents were allowed to return to their homes on Feb. 8. Despite that, state health officials have insisted to residents that East Palestine is a safe place to be. Ohio state officials have said that a plume of pollution in the Ohio River is moving at one mile per hour.

☆ Al Qaeda's new leader Adel has $10 million bounty on his head
▼ + stars: | 2023-02-15 | by ( Michael Georgy | ) www.reuters.com time to read: +6 min

Zawahiri's death piled pressure on the group to choose a strategic leader who can carefully plan deadly operations and run a jihadi network, experts on al Qaeda say. The department’s Rewards for Justice programme is offering up to $10 million for information on Adel, whom it says is a member of "al Qaeda’s leadership council” and heads the organisation’s military committee. He and other Al Qaeda leaders were placed under house arrest in April 2003 by Iran, which released him and four others in exchange for an Iranian diplomat who was kidnapped in Yemen. OPERATIVE TO LEADERAdel, one of the few remaining al Qaeda old guard, has been close to the central command for decades, experts say. Adel gained more jihadi credentials after he joined other Arab militants fighting Soviet occupation troops in Afghanistan, where he eventually headed a training camp before becoming a senior figure in al Qaeda.

☆ Are we on the brink of a corporate credit crisis?
▼ + stars: | 2023-02-13 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Economists at S&P Global Ratings forecast that speculative-grade (perceived to have a lower level of credit quality compared to more highly rated, investment-grade, companies) corporate default rates in the US and Europe will double this year alone. So are we on the brink of a corporate credit crisis? Before the Bell spoke with Ruth Yang, managing director and global head of thought leadership at S&P Global Ratings to discuss what lies ahead for the corporate credit market. Before the Bell: What’s your big picture view of the credit economy right now? There will be slower growth with thinner margins and that’s going to change how people look at their investment opportunities.

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