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The night-time assault is part of a coordinated Ukrainian offensive push near the beleaguered eastern Ukrainian city of Bakhmut, to which CNN obtained exclusive access. “Sometimes there are a lot of them,” Groove says, searching the area with his drone, trying to scope out Russian forces. They chase a few Russian vehicles, dropping bombs on them as they go. Ukrainian drone pilots are able to see their targets through their controllers, even at night, with the help of night vision. German-made Leopard 2 tanks, American Bradley infantry fighting vehicles among others were sent to the area to support Ukrainian forces as they stormed Russian positions.

Persons: They’ve, ”, “, ” Ukraine’s, Mykhailo Fedorov, ‘ Flint ’, Wagner Organizations: Eastern, Eastern Ukraine CNN —, CNN, Ministry for Digital Transformation, Digital Transformation, Russia, “, US, American Bradley, Southern Locations: Eastern Ukraine, Ukrainian, Bakhmut, Kyiv, Russian, Ukraine, zeroing, East Kyiv, Melitopol, Berdiansk, American, Crimea, South, “, Russia

☆ Shares drop as 'higher-for-longer' rate outlook rattles investors
▼ + stars: | 2023-09-25 | by ( Amanda Cooper | ) www.reuters.com time to read: +5 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 22, 2023. The MSCI All-World index (.MIWD00000PUS), which is heading for its worst monthly performance this year, with a 3.6% drop, was down 0.2% on the day. U.S. 10-year Treasury yields have nudged at 4.5% for the first time since October 2007, and on Monday were up 5 basis points at 4.491%, set for their largest monthly rise in a year, reflecting investor unease over the economic outlook. The dollar index got a boost from the rise in Treasury yields, rising 0.1% on the day. Brent crude futures rose 0.2% to $93.48 a barrel, while West Texas Intermediate rose 0.1% to $90.16.

Persons: Jerome Powell, Frederik Ducrozet, Ducrozet, Powell, Evergrande, Andrew Lilley, Kazuo Ueda, Stella Qiu, Himani Sarkar, Jacqueline Wong, Miral Fahmy, Mark Heinrich Our Organizations: REUTERS, Staff, Global, European Central Bank, Bank of England, Federal Reserve, Treasury, Pictet Wealth Management, Nasdaq, Barrenjoey, Bank of Japan, Brent, West Texas, Thomson Locations: Frankfurt, Germany, U.S, Europe, CHINA

CNN —The general leading Ukraine’s counteroffensive along the southern front line says his forces have broken through in Verbove – and predicts an even bigger breakthrough to come. However, open-source analysis of available video suggests that some Ukrainian units have crossed through an important line of Russian defenses near the village of Verbove. Stringer/ReutersAt the beginning of September Ukrainian forces said they had taken the village of Robotyne and were pushing east toward the village of Novoprokopivka. CNN reported earlier this week that the Ukrainian forces were still some 20 kilometers from Tokmak, struggling to break through the multiple layers of Russian defenses. “But the actions of our fighters force them to slowly pull back when they face our assault squads.”The general conceded that for the counteroffensive to be a success, Ukrainian forces need to at least reach the city of Tokmak.

Persons: Verbove –, Oleksandr Tarnavsky, Frederik Pleitgen, ”, Stringer, Soldiers, Tarnavsky, ” Tarnavsky, “, Rather, Sergey Surovikin, Ukraine – Tarnavsky, Tokmak, Pleitgen, It’s, Ukraine’s, CNN Wagner, ‘, Wagner, Yevgeny Prigozhin, Vladimir Putin, Prigozhin, redeploying, that’s, it’s Wagner, it’s Organizations: CNN, International, Kyiv, Reuters, Assault Brigade Locations: Verbove, Russia, Ukrainian, Zaporizhzia, Zaporizhzhia, Crimea, Robotyne, Novoprokopivka, Ukraine, Tokmak, West, Russian, Belarus, Kherson, –, Sevastopol, Crimean

☆ Analysis-For traders, September's ECB move is far from clear cut
▼ + stars: | 2023-08-31 | by ( Yoruk Bahceli | ) www.reuters.com time to read: +5 min

REUTERS/Kai Pfaffenbach/File PhotoData on Thursday showed euro zone inflation held at 5.3% in August rather than dropping. Another inflation hawk, Austrian central bank chief Robert Holzmann, said the ECB could deliver “another hike or two”. Overall money supply in the bloc contracted in July for the first time since 2010, demonstrating the extent to which ECB policy has tightened financial conditions. And even if investors are divided on September’s decision, the consensus is that the ECB will be done raising rates soon. Longer-term, markets expect the ECB to start cutting rates by the second quarter of 2024.

Persons: Christine Lagarde, Kai Pfaffenbach, Piet Christiansen, ’ indecisiveness, ” Christiansen, Isabel Schnabel, Robert Holzmann, ”, Mauro Valle, Valle, Edward Hutchings, Frederik Ducrozet, Aviva’s Hutchinson, ” Pictet’s Ducrozet Organizations: Reuters, European Central Bank, Central Bank, ECB, REUTERS, Danske Bank, Generali Investments, Treasury, Aviva Investors, Pictet Wealth Management Locations: Frankfurt, Germany, Austrian

☆ For traders, September's ECB move is far from clear cut
▼ + stars: | 2023-08-31 | by ( Yoruk Bahceli | ) www.reuters.com time to read: +5 min

REUTERS/Kai Pfaffenbach/File PhotoData on Thursday showed euro zone inflation held at 5.3% in August rather than dropping. Overall money supply in the bloc contracted in July for the first time since 2010, demonstrating the extent to which ECB policy has tightened financial conditions. And even if investors are divided on September’s decision, the consensus is that the ECB will be done raising rates soon. Longer-term, markets expect the ECB to start cutting rates by the second quarter of 2024. (This story has been corrected to clarify that Aviva favours a small overweight in European bonds, not longer-dated euro zone bonds, in paragraph 19)

Persons: Christine Lagarde, Kai Pfaffenbach, Piet Christiansen, ’ indecisiveness, ” Christiansen, Isabel Schnabel, Robert Holzmann, ”, Mauro Valle, Valle, Edward Hutchings, Frederik Ducrozet, ” Aviva’s Hutchings, ” Pictet’s Ducrozet Organizations: Reuters, European Central Bank, Central Bank, ECB, REUTERS, Danske Bank, Generali Investments, Treasury, Aviva Investors, Pictet Wealth Management, Aviva Locations: Frankfurt, Germany, Austrian

☆ Europe's weaker economy limits fallout of US bond rout
▼ + stars: | 2023-08-30 | by ( Yoruk Bahceli | ) www.reuters.com time to read: +5 min

Last week, U.S. 10-year Treasury yields touched their highest relative to Germany's since December. For rate-sensitive short-dated German bond yields yields are even down 17 bps in August as weak data has raised expectations of a European Central Bank rate hike pause in September. SPILLOVERBofA, Goldman Sachs and Barclays expect Treasury yields to end the year slightly below current levels. Barclays's Khanna estimates German bond yields would have been 50-60 bps lower had they only been driven by domestic factors. The spillover from higher Treasury yields is more challenging elsewhere.

Persons: Dado Ruvic, Mauro Valle, Valle, Salman Ahmed, Rohan Khanna, Fitch, Mondher, SPILLOVER BofA, Goldman Sachs, Jackson, Barclays's Khanna, Frederik Ducrozet, Ataru Okumura, Yoruk, Chiara Elisei, Junko Fujita, Kevin Buckland, Dhara Ranasinghe, Tomasz Janowski Organizations: REUTERS, Generali Investment Partners, European Central Bank, Fidelity International, U.S, Fitch, AAA, Vontel Asset Management, Barclays, Treasury, Federal Reserve, ECB, Pictet Wealth Management, of Japan, Nikko Securities, Yoruk Bahceli, Thomson Locations: U.S, United States, Europe, Germany, Britain, Germany's, It's, Italy, France, Japan, Amsterdam, London, Tokyo

REUTERS/Aly Song/File Photo Acquire Licensing RightsHONG KONG/AMSTERDAM, Aug 24 (Reuters) - Global investors fleeing China have one simple message for the country's leadership: put prudence aside for a short while, and start spending big. "At this point there is confusion and, as long as there is confusion, then there's lack of credibility and that means investors are more likely to stay away," said Seema Shah, chief global strategist at Principal Global Investors in London. Prominent examples are heavy Chinese government spending during the 2008 Global Financial Crisis and its swift intervention during the 2015 market crash. But the subsidies need to come from local governments, many of which are cash-strapped or even drowning in debt and unable to pay their civil servants. The lack of concrete stimulus measures now is prompting many China watchers to downgrade their growth estimates for the next few years.

Persons: Aly, China's, Seema Shah, Chen Zhao, Zhao, hasn't, Frederik Ducrozet, Ducrozet, Principal's Shah, Yan Wang, Xi Jinping's, we’ve, Lorraine Tan, Dhara Ranasinghe, Davide Barbuscia, Yoruk, Xie Yu, Ankur Banerjee, Tom Westbrook, Li Gu, Vidya Ranganathan, Kim Coghill Organizations: REUTERS, Global, Global Investors, policymaking Politburo, Pictet Wealth Management, Local, UBS Bank, Federated Hermes, Foreigners, Asia, Morningstar, Thomson Locations: Huangpu, Shanghai, China, HONG KONG, AMSTERDAM, London, Beijing, Japan, United States, New York, Amsterdam, Hong Kong, Singapore

☆ Australia hails 'Princess Mary' after Denmark defeat
▼ + stars: | 2023-08-08 | by ( Ian Ransom | ) www.reuters.com time to read: +3 min

An Australian has graced Denmark's royal family for nearly 20 years since Tasmania-born Mary Donaldson married Frederik, the Scandinavian nation's crown prince. But 20-year-old Fowler, playing as a false nine, is now soccer royalty in Australia after stepping up in Kerr's absence. "Princess Mary Offs Denmark," read the front-page headline in the Sydney Morning Herald newspaper on Tuesday. "Denmark might have Princess Mary but Australia crowned a new queen after a stunning Mary Fowler performance helped the Matildas qualify for the quarter-finals," Martin Gabor wrote in his match report. Australia were upset 3-2 by Nigeria in the group stage when both Kerr and Fowler were absent, the latter due to a head-knock at training.

Persons: Mary Fowler, Asanka Brendon Ratnayake, Sam Kerr, Kerr, Fowler, Caitlin Foord, Hayley Raso, Mary Donaldson, Frederik, Mary Offs Denmark, Mary, Martin Gabor, Tony Gustavsson, Striker Foord, Kerr's, Ian Ransom, Sonali Paul Organizations: Soccer Football, FIFA, REUTERS, Danes, Australia, Canada, Denmark, Sydney Morning Herald, Australian, Thomson Locations: New Zealand, Canada, Melbourne, Australia, Denmark, Sydney, Australian, Tasmania, Nigeria, France, Morocco

☆ Denmark beat Italy in men's team pursuit to avenge Olympic defeat
▼ + stars: | 2023-08-05 | by ( Martyn Herman | ) www.reuters.com time to read: +1 min

GLASGOW, Aug 5 (Reuters) - Denmark reclaimed their world title in men's team pursuit as they defeated Olympic champions Italy in the final at the UCI World Championships in Glasgow on Saturday. In a repeat of the gold-medal battle at the Tokyo Games in 2021 which Italy won in a world record time, Denmark exacted revenge as they reeled in the Azzuri to win comfortably. Denmark also won the title in 2020 and were favourites going into the Olympics. In the women's team pursuit final later, Britain -- led by local favourite Katie Archibald -- take on New Zealand, seeking to win the title for the first time since 2014. Austria's Valentina Holl won the women's title.

Persons: Lasse Leth, Niklas Larsen, Rasmus Pedersen, Carl, Frederik Bevort, Chris Hoy, Filippo Ganna, Katie Archibald, Charlie Hatton, Hatton, Austria's Andreas Kolb, Valentina Holl, Martyn Herman, Hugh Lawson Organizations: GLASGOW, Olympic, Italy, UCI, Tokyo Games, New Zealand, Australia, Thomson Locations: Denmark, Glasgow, Tokyo, Italy, Britain, New Zealand, Fort William, Glasgow's

“There are many checks on the legislative and executive branches, but there are simply no checks on the Supreme Court,” Kontorovich said, without citing examples. Video Ad Feedback Hear Netanyahu respond to judicial overhaul plans amid protests 03:17 - Source: CNNUnlike many democracies, Israel does not have a written constitution. While they are a minority in Israel, they have different reasons for backing the judicial plan. The prime minister in his Thursday interview with CNN failed to confirm whether he’d accept a Supreme Court ruling that struck down the “reasonableness” law. Following backlash from the opposition, however, Netanyahu in a statement attempted to reassure the public, saying that Israeli governments “always respect” court decisions.

Persons: Benjamin Netanyahu’s, Eugene Kontorovich, Kontorovich, Netanyahu, ” Kontorovich, Israel “, ”, Tommy Lamm, Ronnie Lottner, “, Naftali Bennett’s, Tamar Hermann, ” Hermann, Gideon Rahat, Bennett, Yair Lapid, Hermann, Israel Democracy Institue Organizations: CNN, White, Israel’s, West Bank, Israel Democracy Institute, Hebrew University of Jerusalem’s, Israel Democracy Locations: Israeli, Israel, “

☆ Euro zone inflation falls further in comforting sign for ECB
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, July 31 (Reuters) - Euro zone inflation fell further in July and most measures of underlying price growth also eased, in a largely comforting sign for the European Central Bank (ECB) as it considers ending its severe run of interest rate hikes. Consumer prices grew by 5.3% this month versus 5.5% in June, extending a downtrend that started in the autumn. "Services inflation is the area where monetary policy should have the greatest influence because it reflects domestic demand," Dirk Schumacher, an economist at Natixis said. Hawks could also point at hard data about growth, which showed the euro zone returned to growth in the second quarter of 2023 despite negative sentiment and activity polls. The weak survey data has continued to come in in recent days, fuelling talk of a recession in the euro area that the ECB is still hoping to avoid.

Persons: Frederik Ducrozet, Christine Lagarde, Dirk Schumacher, Natixis, Francesco Canepa, Peter Graff Organizations: European Central Bank, Pictet Wealth Management, ECB, Oxford, Thomson Locations: FRANKFURT

☆ How Manga Was Translated for America
▼ + stars: | 2023-07-14 | by ( Gabriel Gianordoli | Robert Ito | ) www.nytimes.com time to read: +1 min

Since manga was first introduced to the U.S. in the 1980s, American companies have wrestled with how to adapt the genre for their readers. The history of manga translation in the U.S. has been one of fits and starts, as publishers grappled with questions about how to present it to fans outside of Japan. Striking the right balance is tricky, said Frederik L. Schodt, one of the early translators of manga and the author of “Manga! : The World of Japanese Comics,” a groundbreaking work in the field of manga studies. “Readers in English should be able to enjoy the story without thinking about it being a translation,” he said.

Persons: Frederik L, ” Organizations: Comics Locations: U.S, Japan

Papperger said on Thursday that factory workers would build and repair Rheinmetall’s Fuchs armored personnel carrier — named after the German word for fox — under license in the facility. Rheinmetall (RNMBF) will operate the plant in partnership with Ukroboronprom, a Ukrainian state-owned defense group, which will also own the facility. Julian Stratenschulte/picture alliance/Getty ImagesFormer Russian President Dmitry Medvedev, a close ally of current President Vladimir Putin, has said Russia would retaliate by hitting any facility Rheinmetall set up in Ukraine, Reuters has reported. For now, Papperger said, sourcing more ammunition was a bigger priority than building more tanks. In theory, he added, Rheinmetall could provide 60% of the artillery ammunition Ukraine needs.

Persons: Armin Papperger, “, ”, Papperger, Rheinmetall’s Fuchs, ” Armin Papperger, reconditioned Marder, Julian Stratenschulte, Dmitry Medvedev, Vladimir Putin, didn’t, — Nadine Schmidt, Claudia Otto Organizations: London CNN, Rheinmetall, CNN, Rheinische Post, Ukroboronprom, Getty, Former, Reuters, NATO Locations: Berlin, London, Ukraine, Russia, Germany’s, Ukrainian, Lower Saxony, Germany, Former Russian, Russian, Europe

☆ It's not just the US: Corporate profits are keeping inflation high in Europe too
▼ + stars: | 2023-07-06 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

As inflation stays high around the world, some are increasingly blaming high corporate profits. An IMF working paper found that corporate profits account for nearly 45% of European inflation. Inflation is not solely caused by soaring profits, but the working paper finds that profits rising well above pre-pandemic trends have made their mark on European inflation. And Europe might be worse off than the US when it comes to so-called "greedflation," as inflation in the states cools off and profits play increasingly less of a role in keeping costs high. The IMF analysis finds that profits are ultimately playing a larger role in European inflation than in the US and Canada.

Persons: —, hasn't, Niels, Jakob Hansen, Frederik Toscani, Jing Zhou, Noah Sheidlower, Chris Becker Organizations: Service, International Monetary Fund Locations: IMF, Europe, Canada

☆ Euro zone inflation falls again in June as energy prices tumble
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +3 min

FRANKFURT, June 30 (Reuters) - Inflation in the euro zone extended its decline in June as the cost of fuel tumbled, more than offsetting an acceleration in prices for services, a preliminary reading showed on Friday. The data, pointing to only the smallest drop in underlying inflation, was unlikely to sway the European Central Bank, which has pencilled in a ninth consecutive rate hike for July and is eyeing one in September too. "Inflation is still high and sticky but momentum is moderating," said Frederik Ducrozet, head of macroeconomic research at Pictet Wealth Management. The euro zone unemployment rate remained at an historic low of 6.5% in May, Eurostat reported separately on Friday. Big differences remain between euro zone countries, with June headline inflation falling to as little as 1.6% in Spain and Belgium and 1.0% in Luxembourg while staying in double digits in Slovakia (11.3%) and close to them in the Baltics.

Persons: chalking, Frederik Ducrozet, Ulrike Kastens, Christine Lagarde, Neil Shah, Francesco Canepa, Catherine Evans Organizations: European Central Bank, Pictet Wealth Management, ECB, DWS . Services, Eurostat, Edison Group, Thomson Locations: FRANKFURT, Germany, Europe, Italy, Portugal, Spain, Belgium, Luxembourg, Slovakia, Baltics

“We’re looking for any kind of enemies everywhere, air, on land and on the river as well,” Captain Anton, his surname withheld for security reasons, says of his mission. It cuts through Ukraine, connecting some of its major cities — such as Kyiv, Dnipro, Zaporizhzhia and Kherson — providing water, electricity and a natural barrier against advancing armies. “The river is a strategic object,” Captain Anton says. “Our mission is to patrol the Dnipro River, since it’s prohibited to use any kind of navigation since 24th of February 2022,” Captain Anton explains. “In cases where Russia is using Shaheds, we can use (these boats) to try and strike them,” Captain Anton explains.

Persons: Captain Anton, Vasco Cotovio, Anton, “, “ We’re, ”, Anton’s Organizations: CNN, Vasco, Dnipro, NATO, US Department of Defense, Moscow, Snake, United Locations: Dnipro, Europe, Russia, Belarus, Ukraine, Kyiv, Zaporizhzhia, Kherson, United States, Washington, Russian, “, Moscow, Moskva, Ukrainian

“The main purpose of this aircraft is to support our ground forces at the front,” he explains. “I think we increase the morale of our ground forces too.”One of the main issues Kyiv’s ground forces have faced as the counteroffensive gets underway is Russian air power holding them back. "Juice" says the Ukrainian air force would be much more capable of protecting advancing ground forces if it had better aircraft. But the US now says it will train Ukrainian pilots on the aircraft, and the UK and Denmark have been pressing for more. But while Russia maintains technological superiority in the air, it’ll be very difficult for Ukrainian pilots to push Moscow’s pilots out of their skies.

Persons: Russia’s Su, Su, Oleksyi, ”, “, ” Pumba, “ They’re, it’s, Vasco Cotovio, ” Juice, Juice, they’re, Pumba, Oleksyi Reznikov, Volodymyr Zelensky, “ It’ll Organizations: Southern, Southern Ukraine CNN —, ”, Territorial Defense Brigade, NATO, CNN, Defense Locations: Southern Ukraine, Soviet, Ukraine, Russia, Vietnam, Afghanistan, Europe, Ukrainian, Moscow, “, United States, Denmark

Zaporizhzhia, Ukraine CNN —In a deserted shell of a building, a Ukrainian drone pilot blocks off his surroundings and focuses solely on the controller in his hands. During the day, the drone unit spent hours scoping out possible night-time launch sites for their mission, as well as figuring out the exact coordinates of their target. Frederik Pleitgen/CNNThey hide their vehicles and proceed a few hundreds of meters on foot, while Ukrainian and Russian forces trade artillery salvos. A successful hitAs the Ukrainian drone approaches its Russian target, the mission enters its most critical phase. Still, the men say, their job is not done just yet, not while Russian forces continue to occupy Ukraine.

Persons: ‘, ’ ”, –, ” Bankir, “, Marat, Frederik Pleitgen, they’re, ”, Vladimir Sladkov, Vladimir Rogov, they’ll, Ukraine’s SBU, ” Marat, “ It’s, it’s Organizations: Ukraine CNN —, Security Service, country’s Patrol Police, CNN, Patrol Police, coy, Bradley, Russian, “ Team Locations: Zaporizhzhia, Ukraine, Ukrainian, Kherson, Russian, United States

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

☆ 'What is there to be afraid of?' Ukrainians in frontline town hopeful about counteroffensive
▼ + stars: | 2023-06-10 | by ( Vasco Cotovio Frederik Pleitgen William Bonnett Darya Tarasova | Vasco Cotovio | Frederik Pleitgen | ) edition.cnn.com time to read: +6 min

The town in the Zaporizhzhia region sits just five kilometers away from a frontline where Ukrainian forces have been making a recent push. “The town is shelled every 24 hours.”And with the Zaporizhzhia frontline becoming more active because of an anticipated Ukrainian counteroffensive, aid deliveries may become more rare. CNN has been able to geolocate the videos to the Zaporizhzhia region but is unable to verify when they were shot. And nothing happens around town without them being well aware of it, even if that is a top-secret Ukrainian counteroffensive. She straps the food box to the back of her bike and – just before she cycles away – Ukrainian forces somewhere outside of town are heard firing a shell towards Russian positions.

Persons: “, Olga Shumska, unfazed, I’m, ” Shumska, Vasco Cotovio, CNN “, Nina Sokol, we’ll, they’re, Vitaliy Kubushka, you’d, ” Sokol, ” Organizations: Southern, Southern Ukraine CNN, CNN, Sokol, Global Empowerment, Howard Buffet Foundation, Ukraine, Ukrainian, Journalists, Ministry of Defense Locations: Southern Ukraine, Orikhiv, Zaporizhzhia, Zapoprizhzhia, Ukrainian, Moscow, Kyiv, Shumska, Ukraine

☆ Eurozone slips into recession as revised data shows two quarters of falling output
▼ + stars: | 2023-06-08 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

In the first three months of the year, economic output in the eurozone dropped 0.1% compared with the previous quarter, according to revised official data published Thursday. Across the European Union, gross domestic product ticked up 0.1% in the first quarter after falling 0.2% late last year. Commenting on the eurozone data, Andrew Kenningham, chief Europe economist at Capital Economics, said consumption by households had been “hit hard” by high prices and rising interest rates. US economy out in frontBoth the eurozone and the whole of the EU are now lagging the US economy. Earlier official estimates of the eurozone’s economic output pointed to a slight increase in the first quarter.

Persons: Andrew Kenningham, Frederik Ducrozet, Russia’s, Claus Vistesen, ” Organizations: London CNN, European Union, Capital Economics, Pictet Wealth Management, Organisation for Economic Co, Pantheon Macroeconomics, European Central Bank Locations: Europe, Ukraine, United States, downgrades, Germany, Europe’s, Ireland

Kherson, Ukraine CNN —Nadejda Chernishova breathes a sigh of relief as she steps off a rubber dinghy, moments after being rescued from her flooded home in Kherson. Nadejda Chernishova, 65, said water levels rose too fast for her to leave her home on her own. Planet Labs PBC/ReutersIn a frontline city like Kherson — where the shelling is constant — the rising water brings an added danger. The large presence of soldiers and first responders contrasts with the very few number of Kherson residents out on the streets. Both sides have been severely impacted by the collapse — even more so on the Russian side — leaving the terrain in very difficult condition.

Persons: Ukraine CNN —, Chernishova, “ I’m, ”, ” Chernishova, Nadejda Chernishova, I'm, Vasco Cotovio, Oleksandr Prokudin, Prokudin, Nova Kakhovka, ” Prokudin, “, haven’t, ” Produkin, – Organizations: Ukraine CNN, CNN, Planet Labs PBC, Reuters, Artillery, ” Locations: Kherson, Ukraine, “, Dnipro, Russian, ”, Karobel, Nova, Kyiv, Moscow, Kherson —, Russia, ” Kyiv

“We call this one Vidsyich (Ukrainian word for ‘repel’).”The Vidsyich is what Borovyk calls a combat drone, designed to attack Russian positions. Valeriy Borovyk as his Vidsyich drone -- one of several he's developed -- is catapulted into the sky. Fedorov and Shchyhol observe a drone competition with the view of procuring more equipment for the Ukrainian military. Valeriy Borovyk's Vidsyich (Ukrainian for 'repel') drone can fly 40 km and carry a warhead with up to three kilograms. Vasco Cotovio/CNNOne longer-range Ukrainian drone is the UJ-22, made by Ukrjet and with a reported range of up to 800 kilometers (500 miles).

Persons: Borovyk, Vasco Cotovio, CNN Borovyk, “, ” Borovyk, Digital Transformation Mykhailo Fedorov, ” Fedorov, Fedorov, ”, ” Denis Sega, Yuriy Shchyhol, ” Shchyhol, Serhiy Prytula, Borovyk's Vidsyich, Anton Gerashchenko, Putin Organizations: CNN, Moscow, Ministry of Digital, Digital Transformation, “ Army, Drones, Sega, country’s, Service of Special Communications, Kremlin, Twitter Locations: Ukraine, Russia, Crimea, Kyiv, Ukrainian, Brig, Moscow, Ilysk, Kuban

☆ Russia destroyed Ukraine's 'last warship' in Black Sea missile attack, defense ministry said
▼ + stars: | 2023-06-02 | by ( Isobel Van Hagen | ) www.businessinsider.com time to read: +3 min

The Ukrainian Navy's "last warship" was destroyed, a Russian Defense Ministry spokesman said. The Yuriy Olefirenko was hit with "high-precision weapons" in the port of Odesa, Russia claimed. Russia said the Yuriy Olefirenko was hit on Monday with missiles, which Konashenkov called "high-precision weapons," per Reuters. Russia has rarely targeted the port after signing the UN-backed Black Sea Grain Initiative last year. Whichever side holds the piece of land can control ship traffic between the ports of Kherson and Mykolaiv and the Black Sea, per Forbes.

Persons: Yuriy Olefirenko, —, Igor Konashenkov, Konashenkov, Frederik Mertens, Mertens Organizations: Russian Defense Ministry, Ukrainian Navy, Service, Ukrainian, Russian Defence Ministry, UN, Forbes, Navy, Hague, Strategic Studies, Newsweek Locations: Odesa, Russia, Telegraph, Ukraine, Soviet, Kherson —, Dnipro, Kherson, Mykolaiv, Ukrainian

“Today our task is training and cleaning the trenches,” a Ukrainian soldier with the call-sign Jenia says. The strikes Podolyak mentions are often referred to as shaping operations – so-called because they aim to ‘shape’ the battlefield – in this case, in Ukraine’s favor. And despite the clear signs that a counteroffensive is coming, Podolyak also refuses to commit to specific dates. Vasco Cotovio/CNNBack on the training grounds, the Offensive Guard’s commander, call sign Kyiv, shares a similar combat philosophy. “We improve our fighting skills in special combat training every day to liberate our lands,” he says.

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