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☆ Patrol dogs are terrorizing and mauling prisoners inside the United States
▼ + stars: | 2023-07-23 | by ( Hannah Beckler | ) www.businessinsider.com time to read: +64 min

But prison patrol dogs aren't deployed for chases; they are used inside the prison walls. Tri-State Canines training facility, Warren, OhioVirginia Department of Corrections patrol dogs are typically Belgian Malinois, Czech shepherds, or German shepherds. Department patrol dogs are trained to bite once and hold to minimize flesh tears and lacerations. Patrol dog kennels, Virginia Department of CorrectionsThe patrol dog kennels are even smaller, at 6 feet by 10. A veterinary technician who treated patrol dogs at a clinic in Lebanon, Virginia, said she was told not to touch the patrol dogs in her care without their handler present.

Persons: Santos Cardona, Michael Smith, Smith, Marco, crouch, Mohammed Bollendia, protectively, Ashraf Abdullah Ahsy, Ivan L, Frederick II, Cardona, Abu, John Ketzer, Ketzer, Michael J, Donald Rumsfeld, Rumsfeld, Abu Ghraib, Lane McCotter, Gary DeLand, Terry Bartlett, Richard Billings, Larry DuBois, John Armstrong, Terry Stewart, Charles Ryan, Ryan, Stewart, Adrian Duran, cradled, Duran he'd, Duran, Blackie, growled, he'd, It's, extractions, they're, Jerko, Jeremy Defour, Bert, Antwon Whitten, Virginia, Peter C, Meade, —, Oikeutta eläimille, Dave Blosser, Blosser, Eli Hiller, he's, Matthew Johnson, Oscar, Johnson, Oscar growled, Boris, Cajos, Linwood Mathias, Lucas Pruitt, Mathias, Xavia Goodwyn, sicced Lojzo, Edris, Michael Watson, Watson, Thomas Rose, Rose, Goodwyn, Red, Rick White, Ron Angelone, Wallens, Tyler Parry, Charlton Yingling, Parry, Eugene, Bull, Connor, Bill Hudson, Yingling, Solomon Northup, Solomon, Walter Gadsden, Malcolm X, Michael Brown, Ferguson, They're, Jeffery, White, Curtis Garrett, Garrett, Kathleen Dennehy, Dennehy, Aaron Fedor, Jimmy Stanley, Dora Schriro, Schriro, Omar, Dionisio Paulino, Paulino, Robert Silva, Adrian Duran's, Adrian Duran Duran, Adrian, unwound, Sussex II, Whitten, Western District of Virginia Jeremy Defour, Defour, Kenneth Licklider, Chris Robbins, Rivan, she'd, They've, Stephen McReynolds, McReynolds, Daniel Clinton, Tom, Clinton, basketballs, Clinton's, Fuga, Jamie Elliott, Elliott, Duran couldn't, Bodhi, Jamie, Jawan Lee, Lee, Lee's Organizations: US, Business, Associated Press, Department of, Rights, Department, Justice, Department of Justice, Virginia Department of Corrections Police, Human Rights Watch, Virginia Department of Corrections, University of Virginia School of Law, Sussex II, Police, Kern Medical, Arizona Department of Corrections, Rehabilitation, The Indiana Department of Correction, Delaware Department of Correction, South, New Jersey Department of Corrections, Tri, Warren , Ohio Virginia Department of Corrections, State Canine Services, Court, Western District of, Red, View Regional, Onion, North Correctional Center, Corrections, Goodwyn, FBI, Ku Klux Klan, Human Rights, University of Nevada, University of Louisville, AP, Breeders, Ferguson Police Department, Souza, Baranowski, Commonwealth, Baranowski Correctional, Prentice, Black, United States, District, Massachusetts, Housing, Virginia Commonwealth University Health, Virginia, Housing Unit, Patrol, Southwest, Southwest Virginia Veterinary Services Locations: Abu Ghraib, Iraq, Belgian, Baghdad, Abu, United States, New Mexico, Utah, DeLand, Billings, Bartlett, Arizona, DuBois, Massachusetts, Armstrong, Connecticut, Arizona , Connecticut, Delaware , Indiana , Iowa , Massachusetts , New Jersey, Virginia, Alexandria , Virginia, Los Angeles, backyards, Sussex, lunging, Indiana, Richmond , Virginia, Iowa, Augusta, Ridge, New Jersey, South Woods, Warren ,, Czech, Europe, , Virginia, Western District, Western District of Virginia, Warren , Ohio, Holland, Tri, Canton , Ohio, Wallens, Onion, Red Onion, View, Norton , Virginia, Portsmouth , Virginia, Kentucky, Birmingham , Alabama, Las Vegas, Americas, Caribbean, American, Ferguson , Missouri, Lancaster , Massachusetts, Richmond, Lebanon , Virginia, Southwest Virginia, Lebanon, Waverly , Virginia, chihuahua

☆ Global shares dip after China data; traders bet on Fed sea change
▼ + stars: | 2023-07-17 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

This week's data macro calendar is light and Fed officials are in their "blackout period" ahead of their July policy meeting, leaving investors with the big question of whether last week's market moves will continue or reverse. U.S. stock index futures , erased earlier gains and were down 0.1% ahead of a packed week of corporate earnings. "We expect Fed officials cheered the latest inflation developments, but declaring victory with sub-4% unemployment, and over 4% core inflation, would be reckless." Copper , which is also highly sensitive to Chinese data, dropped 2.5% to $8,458 a ton. Additional reporting by Wayne Cole in Sydney; Editing by Lincoln Feast and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Michael Brown, Brown, Tesla, Morgan Stanley, Goldman Sachs, disinflation, Michael Feroli, Sterling, Wayne Cole, Lincoln, Christina Fincher Organizations: Global, Federal Reserve, Bank of America, Netflix, JPMorgan, Reuters, Treasury, Bank of England, CBA, Brent, Thomson Locations: China, Europe, Libya, Sydney

☆ Gilgo Beach murders: Years in the making, evidence leads investigators to Rex Heuermann
▼ + stars: | 2023-07-16 | by ( Ray Sanchez | ) edition.cnn.com time to read: +11 min

Rex Heuermann in booking image from the Suffolk County Sheriff's Office. Suffolk County Sheriff's Office/APHeuermann is charged with three counts of first-degree murder for the killings of Melissa Barthelemy in 2009, and Megan Waterman and Amber Costello the following year, according to the Suffolk County District Attorney. His father had built satellites for a living, Heuermann told the interviewer. They first connected him to the killings last year while conducting a review of evidence under a newly formed task force, which included the Suffolk County Police Department, the Suffolk County Sheriff’s Office, the New York State Police and the FBI. Speaking of the arrest, Suffolk County Police Commissioner Rodney Harrison said Friday: “Rex Heuermann is a demon that walks among us.

Persons: Rex Heuermann, John F, he’s, Heuermann, ”, Kathy Hochul, “, –, Melissa Barthelemy, Megan Waterman, Amber Costello, Maureen Brainard, Barnes, Amber Lynn Costello, Michael Brown, ” Heuermann, it’s, Barthelemy, selfies “, hank, Tierney, Heuermann’s, Investigators, ” Tierney, Shannan Gilbert, Gilbert, Brainard, Waterman, Rodney Harrison, “ Rex Heuermann Organizations: CNN, Catholic Charities, American Airlines, Kennedy International Airport, WABC, ” New York Gov, Netflix, Sheriff's, Suffolk County Sheriff's, Attorney, Police Department, Associates, Heuermann, Suffolk County Police Department, Sheriff’s Office, New York State Police, FBI, Avalanche, Authorities, Suffolk County, Craigslist, Suffolk County Police Locations: Manhattan, Shore, Long, Suffolk, Suffolk County, Megan Waterman Suffolk, homey, Massapequa, Nassau County, Heuermann, New York City, Heuermann’s, Gilgo, Oak Beach, Gilgo Beach, Hauppauge

☆ With home improvement projects down, it’s Ikea’s moment
▼ + stars: | 2023-07-08 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

Over the next three years, it plans to open eight large stores and nine smaller “plan and order points,” where customers can chat with design consultants and order products. “We see endless opportunities to grow” in the US, Tolga Öncü, head of Ikea Retail for the Ingka Group, Ikea’s Dutch holding company, said in a statement at the time. After splurging on home improvement projects during the pandemic, consumers are pulling back. Home improvement retailer Lowe’s lowered its profit and sales outlook for the year in May, saying consumers were spending less on home improvement. Ikea, which is not publicly traded, reported that its retail sales rose by 6.5% in fiscal year 2022, but didn’t post quarterly results.

Persons: ”, Michael Brown, Spencer Platt, Tolga Öncü, Karl Zimmermann, “, Sucharita Kodali, Forrester, “ they’re, Zimmermann, Paul Bersebach, Marisa Ortega, splurging, Ethan Allen, ” Ortega, —, Anna Cooban, David Goldman, Nathaniel Meyersohn, Parija Kavilanz Organizations: New, New York CNN, Ikea, Ikea Retail, Ingka, Bain, MediaNews, Orange, Register Locations: New York, Aldi, Long Beach , California

☆ Reaction: June US jobs growth cools, but wages won't comfort Fed
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +6 min

Nonfarm payrolls increased by 209,000 jobs last month, the Labor Department said on Friday. "Today's numbers confirm the job market is still strong... and this report gives the green light to the Fed to raise rates. "If anything, it probably confirms this idea that the Fed has had that they are making progress in the right direction." "It's not like this is a sudden vast improvement in the labor market." The hours worked numbers are rising slower than the payrolls numbers.

Persons: Nonfarm, payrolls, CANDICE, GOLDMAN, BEN JEFFERY, “, PETER CARDILLO, we're, STUART COLE, JASON PRIDE, MICHAEL BROWN, ”, ” BRIAN JACOBSEN, MENOMONEE Organizations: YORK, Labor Department, Reuters, Treasury, BMO, NFP, Fed, Global Finance, Markets, Thomson Locations: GOLDMAN SACHS, PHILADELPHIA, WISCONSIN

The push to assemble slates of pro-Trump electors from swing states won by Mr. Biden is one of a number of components of Mr. Smith’s investigation. It remains unclear whether Mr. Giuliani will face charges in the special counsel’s investigation. His name has appeared on several subpoenas sent to former aides to Mr. Trump and to a host of Republican state officials involved in the plan to create fake slates of electors. Last year, shortly before Mr. Smith was appointed to his job as special counsel, the Justice Department issued a subpoena to Mr. Giuliani for records related to his representation of Mr. Trump, including those that detailed any payments he had received. A group of federal prosecutors including Thomas Windom had been pursuing various strands of the inquiry into Mr. Trump’s efforts to remain in power before Mr. Smith’s appointment and they continue to play key roles in the investigation.

Persons: Biden, Trump, Giuliani, Mr, Roman’s, Gary Michael Brown, Brad Raffensperger, Smith, Thomas Windom, Smith’s Organizations: Trump, Mr, Prosecutors, Justice Department, Capitol, Court, York City’s Locations: Fulton County ,, Washington, Georgia, York

That activity could signal that investigators are nearing at least some charging decisions in a part of the 2020 election probe, sources added. It is not clear if Trump is a target in the fake electors aspect of Smith’s ongoing criminal probe. Multiple 2020 election witnesses are scheduled for grand jury appointments in the coming days, sources say. Fake electors in NevadaThe fake electors scheme – one of the more public efforts to overturn Biden’s win in the 2020 election – now appears to be at the forefront for prosecutors, sources said. McDonald and DeGraffenreid previously declined to answer some questions about the fake electors scheme in the House inquiry.

Persons: Jack Smith, Donald Trump, Joe Biden, Trump, Mike Pence, Rudy Giuliani, Sidney Powell, Jeffrey Clark, Giuliani, Drew Angerer, –, Michael McDonald, Jim DeGraffenreid –, Gary Michael Brown, Brown, McDonald, DeGraffenreid, Adam Laxalt, Jesse Binnall, “ Donald Trump, ”, Binnall, “ Adam Laxalt, ” Robert Uithoven, Nevada’s Organizations: Washington CNN, CNN, Prosecutors, Republicans, Trump, Lawyers, Capitol, of Justice, Republican National Committee, Getty, Biden’s, Nevada Trump, state’s Republican, GOP, FBI Locations: Washington, Florida, Nevada, Nevada’s Clark County, Clark County

☆ Former Trump Campaign Official in Talks to Cooperate in Jan. 6 Inquiry
▼ + stars: | 2023-06-23 | by ( Alan Feuer | Maggie Haberman | ) www.nytimes.com time to read: +1 min

Michael Roman, a top official in former President Donald J. Trump’s 2020 campaign, is in discussions with the office of the special counsel Jack Smith that could soon lead to Mr. Roman voluntarily answering questions about a plan to create slates of pro-Trump electors in key swing states that were won by Joseph R. Biden Jr., according to a person familiar with the matter. If Mr. Roman ends up giving the interview — known as a proffer — to prosecutors working for Mr. Smith, it would be the first known instance of cooperation by someone with direct knowledge of the so-called fake elector plan. That plan has long been at the center of Mr. Smith’s investigation into Mr. Trump’s wide-ranging efforts to overturn the 2020 election. In the past few weeks, several witnesses with connections to the fake elector plan have appeared in front of a grand jury in Federal District Court in Washington that is investigating the ways in which Mr. Trump and his allies sought to reverse his defeat to Mr. Biden. Among them was Gary Michael Brown, Mr. Roman’s onetime deputy, who was questioned in front of the grand jury on Thursday.

Persons: Michael Roman, Donald J, Jack Smith, Roman, Joseph R, Biden, Smith, Mr, Trump, Gary Michael Brown, Roman’s Organizations: Trump, Mr, Court Locations: Trump’s, Florida, Washington

☆ Dollar dips as Powell testimony disappoints hawks
▼ + stars: | 2023-06-21 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

Powell told lawmakers the fight against inflation still "has a long way to go" and that despite a recent pause in interest rate hikes officials agreed borrowing costs would likely need to move higher. While noting that inflation remains very far from the Fed's target, Powell said it may make sense to still raise rates, at a more moderate pace. The dollar index , which measures the currency against six rivals, fell 0.43% to 102.07 following Powell's testimony to the House Financial Affairs Committee. Investors broadly expect rate hikes to resume at the Fed's July meeting, though financial market indicators reflect doubts that the Fed will deliver more increases beyond that. YEN UNDER PRESSURE, STERLING SEESAWSThe euro was 0.62 % higher against the dollar at $ 1.0985 .

Persons: Jerome Powell's, Powell, Karl Schamotta, Schamotta, Michael Brown, STERLING, Kazuo Ueda, Charles Schwab, Saqib Iqbal Ahmed, Tom Westbrook, Farouq Suleiman, Sam Holmes, Kim Coghill, Sharon Singleton, Alex Richardson, Richard Chang Organizations: YORK, U.S, Fed, House Financial, Committee, Investors, Bank of Japan, Reserve Bank of Australia's, Fidelity, Citadel Securities, Thomson Locations: Beijing

☆ Still-hawkish Fed pauses rate tightening after 10 straight hikes
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +13 min

While the market expected a hawkish pause, this is even a little bit more hawkish than market participants anticipated and that’s why you’re having a negative reaction in risk assets. So, it does suggest that the Fed is looking to tighten policy further, but the big question is can the Fed credibly commit to two more rate hikes if they just decided to actually hold rates steady. And what is the threshold for further rate hikes? “GEORGE YOUNG, PORTFOLIO MANAGER, VILLERE & CO, NEW ORLEANS"This a pregnant pause, meaning that they said they're going to pause hikes today but they're going to increase later. ANGELO KOURKAFAS, SENIOR INVESTMENT STRATEGIST, EDWARD JONES, ST LOUIS"We're seeing a more hawkish pause.

Persons: QUINCY KROSBY, Powell, He’s, BRIAN JACOBSEN, MENOMONEE, ” ANDRZEJ SKIBA, ” GENNADIY GOLDBERG, they’ve, ” ELLEN HAZEN, Logan, Waller, “ GEORGE, ANGELO KOURKAFAS, EDWARD JONES, They've, MICHAEL BROWN, hawkishly, WHITNEY WATSON, GOLDMAN, “, STOVALL, ” PAUL NOLTE, MICHAEL JAMES Organizations: YORK, Federal Reserve, Federal, U.S, RBC, CPI, PPI, Powell &, Cleveland Fed, Global Finance, Markets, Thomson Locations: U.S, CHARLOTTE, NC, WISCONSIN, WELLESLEY , MASSACHUSETTS, ORLEANS, GOLDMAN SACHS, Manheim, ALLENTOWN, CHICAGO

☆ What the chaos at Twitter means for the future of social movements
▼ + stars: | 2023-06-11 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +11 min

CNN —When thousands of Egyptians marched through the streets during the Arab Spring of 2011, they had a tool at their disposal that earlier social movements didn’t: Twitter. Peter Macdiarmid/Getty Images“You can’t underestimate the impact of Twitter to social movements,” Amara Enyia, manager of policy and research for the Movement for Black Lives, told CNN. “There are now issues in how people see Twitter as a source of information and a source of political community,” said Kuo, whose research focuses on race, social movements and digital technologies. “It isn’t seen in the same way anymore.”Elon Musk's controversial policy changes at Twitter could have implications for social movements, some activists say. Twitter has been an incredibly powerful tool for social movements, Enyia said.

Persons: Michael Brown, George Floyd, Harvey Weinstein, Peter Macdiarmid, ” Amara Enyia, Elon Musk, wouldn’t, Rachel Kuo, ”, Kuo, ” Elon, Carina Johansen, NTB, Musk, Sarah Aoun, Aoun, Donald Trump, Marjorie Taylor Greene, ” Aoun, Linda Yaccarino, Rich Wallace, Wallace, Chandan Khanna, we’ve, ” Kuo, Enyia, it’s, Jack Dorsey, Richard Drew, –, ” Enyia, don’t Organizations: CNN, Twitter, Occupy, Hollywood, Movement, Elon, University of Illinois, Getty, Intelligence, Protesters, Center, Defamation League, GOP, Equity, AP Locations: New York, Ferguson , Missouri, Cairo, Egypt, Urbana, Champaign, AFP, cybersecurity, Tahrir, Chicago

☆ BlackRock is on the lookout for deals — and it just scooped up a major lender to European startups to supercharge its private credit business
▼ + stars: | 2023-06-08 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +3 min

The purchase will boost the money manager's offerings in the booming private credit space. The world's largest asset manager is set to buy a lender to European technology and healthcare companies to boost its private credit business. One area that BlackRock has been focused on ramping up has been its $320 billion alternatives business, especially private credit. Private credit has grown tremendously as traditional banks pull away from loaning to small and risky companies. Within private credit, venture debt is a growing area.

Persons: Larry Fink, Stephan Caron, Monese, Keefe, Michael Brown, Brown, Martin Small Organizations: BlackRock, Investors, Silicon Valley Bank, Tennenbaum Capital Partners Locations: London, BlackRock, loaning, Europe, Asia, Silicon

☆ NAACP issues travel advisory for Florida over DeSantis’ ‘aggressive attempts to erase Black history’
▼ + stars: | 2023-05-21 | by ( Summer Concepcion | ) www.cnbc.com time to read: +4 min

The NAACP on Saturday issued a travel advisory for Florida over Republican Gov. Ron DeSantis' "aggressive attempts to erase Black history and to restrict diversity, equity and inclusion programs" in the state's schools, the organization said in a statement. Under DeSantis, "the state of Florida has become hostile to Black Americans and in direct conflict with the democratic ideals that our union was founded upon," Johnson added. The NAACP's travel advisory for Florida was initially proposed to the board of directors by the organization's Florida State Conference, which voted unanimously in favor of it in March. DeSantis' office and the NAACP did not immediately respond to requests for comment on the travel advisory.

☆ Shares edge up in nervy trade ahead of debt limit talks
▼ + stars: | 2023-05-16 | by ( Amanda Cooper | ) www.reuters.com time to read: +3 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 15, 2023. Other than that, however, global markets are showing little evidence of stress, at least for now. China saw industrial output rise in April but by far less than economists had expected, while retail sales also fell short of forecasts - highlighting the fragility of the post-COVID recovery. Against the yen, the dollar fell 0.23% to 135.78. In commodities, Brent crude rose 0.7% to $75.76 a barrel, while U.S. crude rose 0.66% to $71.60.

☆ Sterling falls as cracks appear in Britain's job market
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +2 min

Sterling fell by as much as 0.52% against the dollar to a session low of $1.2466, and by as much as 0.4% against the euro . Right now, the derivatives market shows traders believe UK rates will peak at 4.80% in November, down from 4.86% a day ago. Tuesday's data showed pay growth - which is at the heart of the BoE's debate about whether to raise interest rates further - remained strong by historical standards. That said, with inflation at 10.1%, pay growth in real terms is still deeply negative and close to its weakest in years. Markets are attaching a 68% chance that the BoE will raise rates by a quarter of a point to 4.75% and a 32% chance of no change.

Revisit some of the predominant trends in music that came to define a mercurial decade, from pop-rap and boy bands to aesthetic sadness and protest anthems. Rap goes the viral pop routeAt the beginning of the 2010s, rap stars had trouble scoring their own No. Dark and dreary pop blows upLana Del Rey helped to usher in a new era of downbeat and dark pop. Karl Walter/Getty ImagesBoth the Weeknd and Del Rey have pivoted since their debuts, with their images becoming more complicated than their indie origins belie. Del Rey, meanwhile, has only burrowed deeper into her niche, crafting intensely personal records that have matured with her listeners.

☆ Stocks ease; Aussie dollar soars after surprise hike
▼ + stars: | 2023-05-02 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

"No one is going to want to do too much before we get to that FOMC decision. "One of the things that sticks out to me is that they're still saying they might need to increase interest rates," said Commonwealth Bank of Australia strategist Joe Capurso. "So as well as the increase today, that's supporting the Aussie dollar," he said. The U.S. dollar was steady against a basket of major currencies , while the euro eased 0.1% to $1.097. But markets are still anxious about what may be the next crisis, even if the initial response has been positive.

☆ Justice Dept. Presses Local Courts to Reduce Fines
▼ + stars: | 2023-04-20 | by ( Glenn Thrush | ) www.nytimes.com time to read: +1 min

The Justice Department’s third-highest-ranking official, Vanita Gupta, informed local judges and juvenile courts on Thursday that imposing fines and fees without accounting for a person’s financial status violated constitutional protections against cruel and unusual punishment. Doing so “may erode trust between local governments and their constituents, increase recidivism, undermine rehabilitation and successful re-entry, and generate little or no net revenue,” Ms. Gupta, the associate attorney general, wrote in a letter. A Justice Department investigation did not result in federal charges against the officer involved. The policy Ms. Gupta outlined was first enacted during the Obama administration, when she led the Justice Department’s civil rights division. It was revoked under Attorney General Jeff Sessions in 2017, but a handful of states, including several controlled by Republicans, have taken steps to reduce the practice.

☆ VIEW US payrolls rise moderates in March, participation rate firms
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +5 min

Nonfarm payrolls increased by 236,000 jobs last month, the Labor Department said on Friday. Data for February was revised higher to show 326,000 jobs were added instead of 311,000 as previously reported. That also should ease pressure in the job market and help overall growth in the months and quarters ahead." “The overall headline view is that everything is remarkably in line with expectations. "The Fed will look positively on a further rise in participation to a new cycle high 62.6%, while a renewed drop in unemployment to 3.5%, coupled with continued healthy headline jobs growth, should cement the case for another 25 bps rate hike at the May meeting."

☆ Dollar advances after US nonfarm payrolls data
▼ + stars: | 2023-04-07 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +1 min

Prior to the jobs report, the rate futures market had been betting that the Fed would pause at the May policy meeting. The market has now priced in a 68% chance the Fed will raise interest rates by 25 basis points (bps). Friday's data showed there were 236,000 new jobs in March, in line with forecasts of 239,000. Data for February was revised higher to show 326,000 jobs were added instead of 311,000 as previously reported. Against the yen, the dollar was up 0.3% at 132.075 yen while the euro was 0.2% weaker at $1.0905 .

☆ UBS to take over Credit Suisse, central banks act on liquidity
▼ + stars: | 2023-03-19 | by ( Reuters Staff | ) www.reuters.com time to read: +13 min

LONDON/NEW YORK (Reuters) -UBS sealed a deal to buy rival Swiss bank Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss authorities said on Sunday. FILE PHOTO: The logo of Credit Suisse is pictured in front of the Swiss Parliament Building, in Bern, Switzerland, March 19, 2023. The reports that UBS is acquiring Credit Suisse will likely magnify Credit Suisse’s problems by moving them to UBS... The Credit Suisse issues are not new and needed to be resolved years ago. A legal challenge by Credit Suisse shareholders, who will claim that their property has been illegally confiscated, is guaranteed.

"If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes," Powell said. Republicans focused on whether energy policy was restricting supply and keeping prices higher than needed, and whether restrained federal spending could help the Fed's cause. As of December, officials saw that rate rising to a peak of around 5.1%, a level investors expect may move at least half a percentage point higher now. With a 50-basis-point rate hike now in play, Brown said a strong monthly jobs report on Friday would likely lead to "calls for a 6% terminal rate," nearly a percentage point higher than Fed officials had projected as of December. How much remains unclear, but Powell said the focus will remain more squarely on how inflation behaves.

"If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes," Powell said. The Fed's benchmark overnight interest rate is currently in the 4.50%-4.75% range. Senator Sherrod Brown, the Democratic chair of the committee, said the Fed's rate hikes ignored what he viewed as a chief cause of inflation - high corporate profits. "To restore price stability, we will need to see lower inflation in this sector, and there will very likely be some softening in labor market conditions," Powell said. Powell's last monetary policy report to Congress was in June, which was early in what became the most aggressive cycle of Fed rate increases since the 1980s.

☆ Hawkish Powell puts 50 bp Fed rate hikes back on table
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +6 min

"Powell makes it clear the Fed would react accordingly if the data suggests that inflation continues to move in the wrong direction. It was very clear to the market that the Fed is not going to equivocate in terms of data that suggests inflation continues to climb higher or remain sticky." "Six percent (terminal rate) would be a little higher than it is likely. ROBERT PAVLIK, SENIOR PORTFOLIO MANAGER, DAKOTA WEALTH, FAIRFIELD, CONNECTICUT"The focus of the Fed is trying to get inflation down to 2%. "I prefer just one more 25 basis point rate hike, but probably we're going to get three 25 basis point rate hikes."

☆ Leisure travel is not showing any signs of waning, says Travel & Leisure CEO Michael Brown
▼ + stars: | 2023-02-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLeisure travel is not showing any signs of waning, says Travel & Leisure CEO Michael BrownMichael Brown, Travel & Leisure CEO, joins 'The Exchange' to discuss consumer trends in the travel and leisure sector.

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