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☆ Morning Bid: Bond crush stifles markets as $134 billion hits
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +6 min

The yield spike has supercharged the U.S. dollar worldwide - both a reflection and aggravator of mounting financial stress far and wide. As Deutsche Bank notes, this is historically significant territory as the average of the 10-year yield going back to 1799 is around 4.50%. The Treasury sells $48 billion in two-year notes on Tuesday, $49 billion in five-year paper on Wednesday and $37 billion in seven-year notes on Thursday. Minneapolis Fed Bank President Neel Kashkari said on Monday the Fed probably needs to raise borrowing rates further. Private sector bankers are starting to brace for the worst, with JP Morgan chief Jamie Dimon reported overnight as warning: "I am not sure if the world is prepared for 7% (Fed rates)."

Persons: Jose Luis Gonzalez, Mike Dolan, South Korea's, Sterling, haven't, Neel Kashkari, Said Kashkari, Austan Goolsbee, JP Morgan, Jamie Dimon, Christine Lagarde, China Evergrande, Michelle Bowman, Christina Fincher Organizations: REUTERS, Federal Reserve, U.S ., Bank of Japan, South, Treasury, Deutsche Bank, Minneapolis Fed, Chicago Fed, European Central Bank, ECB, Dallas Fed's, Chicago Fed's, HK, Richmond Fed, Dallas Fed, Philadelphia Fed, Costco, Cintas, Thomson, Reuters Locations: Ciudad Juarez, Mexico, U.S, Wall St, Asia, Europe, Philadelphia, Washington

Pumpjacks are seen against the setting sun at the Daqing oil field in Heilongjiang province, China December 7, 2018. REUTERS/Stringer Acquire Licensing RightsCompanies Baker Hughes Co FollowLONDON, Sept 25 (Reuters) - Oil prices held steady on Monday after Russia relaxed its fuel ban, taking the edge off earlier gains on a tighter supply outlook and wariness over interest rates that could curb demand. Russia approved some changes to its fuel export ban, lifting the restrictions for fuel used as bunkering for some vessels and diesel with high sulphur content, a government document showed on Monday. Crude prices fell last week after a hawkish Federal Reserve rattled global financial markets and raised concerns over oil demand. However, analysts flagged that oil prices face technical resistance at the November 2022 highs reached hit last week.

Persons: Stringer, Baker Hughes, Tony Sycamore, IIR, Goldman Sachs, Paul Carsten, Mohi Narayan, Florence Tan, Louise Heavens, David Goodman Organizations: REUTERS, Brent, . West Texas, Federal Reserve, Northern, IIR Energy, Thomson Locations: Heilongjiang province, China, Russia, Saudi Arabia, Moscow, United States, London

☆ China could do 'a lot' to reduce EU perception of risk - EU trade chief
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +3 min

BEIJING, Sept 25 (Reuters) - The European Union has no intention of cutting ties with China even as the bloc takes steps to lower economic dependencies and de-risk, but China "could do a lot" to help reduce the perception of risk, the EU trade chief said on Monday. The EU has long complained about a lack of level playing field in China and the politicisation of the business environment. Europe's economic ties with China are deep, but China "could do a lot to help reduce our perception of risk," Trade Commissioner Valdis Dombrovskis said in a speech delivered at the Tsinghua University in Beijing. Dombrovskis is expected to share his concerns with Chinese Vice Premier He Lifeng at a high-level economic and trade dialogue in Beijing on Monday. The EU's trade deficit with China widened to $276.6 billion in 2022 from $208.4 billion a year earlier, Chinese customs data show.

Persons: Valdis Dombrovskis, Dombrovskis, Ryan Woo, Bernard Orr, Yew, Himani Sarkar, Jacqueline Wong Organizations: European Union, EU, Tsinghua University, European Commission, Global Times, Thomson Locations: BEIJING, China, Moscow, Ukraine, Beijing, Europe, EU

☆ EU trade chief seeks more balanced economic ties on China visit
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +3 min

Trade Commissioner Valdis Dombrovskis will take part in a joint economic and trade dialogue, meet Chinese officials and European companies active in China and deliver two speeches during his Sept. 23-26 trip to Shanghai and Beijing. For the European Union, the visit is designed to renew dialogue with China after its COVID-19 closure and as EU wariness grows over Beijing's closer ties with Moscow following Russia's 2022 invasion of Ukraine. The EU blames its 400 billion euro ($426.32 billion) trade deficit partly on Chinese restrictions on European companies and says the EU market is largely open. The European Union Chamber of Commerce in China said in a report on Wednesday that Chinese authorities were sending contradictory messages to foreign businesses. The EU is also expected to be asked during the visit to clarify what it means by "de-risk" in the context of China.

Persons: Valdis, Francisco Seco, Valdis Dombrovskis, Dombrovskis, Philip Blenkinsop, Barbara Lewis Organizations: European Commission, Rights, Beijing, Trade, European Union, EU, European Union Chamber of Commerce, Thomson Locations: Brussels, Belgium, Rights BRUSSELS, China, Shanghai, Beijing, Moscow, Ukraine, EU

☆ Central bank interest rates: Is the global fight to tame inflation nearly over?
▼ + stars: | 2023-09-21 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

London CNN —Central bankers have had to climb a metaphoric mountain over the past two years in the battle to control runaway inflation. The announcement came just hours after Switzerland’s central bank kept rates unchanged and a day after the US Federal Reserve did the same, holding its key lending rate in the range of 5.25% to 5.5%. “Central banks think they have raised interest rates enough to bring inflation down to their 2% targets in a couple of years’ time,” Paul Dales, chief UK economist at Capital Economics, told CNN. Key interest rates are now at levels that, if “maintained for a sufficiently long duration, will make a substantial contribution” to reducing inflation to its 2% target, the central bank said. “By this time next year, we anticipate that 21 out of the world’s 30 major central banks will be cutting interest rates.”

Persons: ” Paul Dales, “, Jerome Powell, Sarah Silbiger, Brent, Andrew Bailey, ” Seema Shah, ”, J.P, Morgan, Jennifer McKeown Organizations: London CNN —, Bank of England, US Federal Reserve, Capital Economics, CNN, European Central Bank, ECB, Federal, Washington DC, Bloomberg, Getty, European Union, EU, European Commission, Asset Management, “ Locations: United Kingdom, United States, Germany, Saudi Arabia, Russia

In some ways, attaching Ukraine aid to other pressing matters could improve the odds of passing it quickly. Some lawmakers will be more inclined to vote for Ukraine assistance if it gets included with say, disaster relief for their home state. He said the focus needs to be on first passing an overall defense spending bill as well as the other spending bills. House Republicans hope to bring up for a vote this week a stopgap spending bill that doesn't include Biden's aid package for Ukraine. Still, Rep. Michael McCaul, the top Republican on the House Committee on Foreign Affairs, voiced confidence that Ukraine aid will continue.

Persons: Volodymyr Zelenskyy's, Joe Biden, ”, Kevin McCarthy, Zelenskky, “, Nancy Pelosi, Kamala Harris, Donald Trump's “, McCarthy, Mitch McConnell, McConnell, ” McConnell, Chuck Schumer, Zelenskyy, Sen, Thom Tillis, ” Tillis, Putin, Ken Calvert, ” Calvert, Mike Garcia, he's, ” Garcia, ” Schumer, Michael McCaul, ” McCaul Organizations: WASHINGTON, Ukraine, Republican, Republicans, House Republicans, Washington, ”, Foreign Affairs, NATO Locations: Washington, United States, Russia, Ukraine, Ukrainian, U.S, R

☆ Sean Penn and Volodymyr Zelensky: 'Superpower' puts the two men in the center of the action
▼ + stars: | 2023-09-18 | by ( Brian Lowry | ) edition.cnn.com time to read: +3 min

Although Penn happened to be in the right (or wrong) place when he was scheduled to meet with Ukrainian President Volodymyr Zelensky, “Superpower,” which Penn directed with Aaron Kaufman, is the product of seven trips to and from Ukraine. Sean Penn and Ukrainian President Volodymyr Zelensky in November 2022. His conversations with the Ukrainian people prove equally enlightening, both before the war – when many expressed doubts about Zelensky – and during it. Of course, there are those quick to deride or dismiss actors like Penn stepping off the soundstage and into such roles. Still, if you’ve read this far and might not have clicked on a review about another Ukraine documentary, guess what?

Persons: Sean Penn, ” Penn, Penn, Volodymyr Zelensky, Aaron Kaufman, “, Walter Cronkite, Steven Pifer, Vitali Klitschko, Alexander Vindman, Zelensky –, Sean Hannity’s, Penn doesn’t, Hannity, Will Smith Oscar, Johnny Depp, Amber Heard, you’ve Organizations: CNN, “, Penn, European Affairs, United States National Security Council, Anadolu Agency, Getty, Fox News, Paramount Locations: Ukraine, Russian, Haiti, Kyiv, Crimea, Ukrainian, –

☆ Kevin McCarthy plans to formally endorse an impeachment inquiry into Biden
▼ + stars: | 2023-09-12 | by ( Rebecca Kaplan | Summer Concepcion | ) www.cnbc.com time to read: +5 min

House Speaker Kevin McCarthy, R-Calif., plans to endorse an impeachment inquiry into President Joe Biden in an effort to seek bank records and other documents from the president and his son Hunter Biden, two Republican sources familiar with the speaker's intentions told NBC News. McCarthy has signaled for weeks that the House could take up an impeachment inquiry, which would provide additional legal power to the House's investigations into the Biden family. It is unclear whether there are sufficient votes within the GOP conference to open an impeachment inquiry into the president. The White House is ramping up a war room to lead a response to a Republican impeachment inquiry, NBC News previously reported. McCarthy's move to endorse an impeachment inquiry into Biden comes amid pressure from right-wing Republicans,who are pushing back against a short-term funding bill to avert a government shutdown at the end of the month.

Persons: Kevin McCarthy, Joe Biden, McCarthy, Hunter Biden, Jim Jordan, James Comer, Biden, Hunter, we're, we've, Devon Archer, Ken Buck, Buck, Jen Psaki, McCarthy's, Matt Gaetz, —, Kevin, Gaetz, Eric Swalwell, Marjorie Taylor Greene, he's, Matt Organizations: NBC News, GOP, House Republican Conference, Punchbowl News, American, Republicans, Freedom Caucus, NBC, Monday, Sunday Locations: Washington , DC, Ohio, Ky

☆ How the ‘model minority’ myth led one Indian American family to unravel
▼ + stars: | 2023-09-09 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +14 min

In a deeply vulnerable book that combines personal narrative, history and cultural reporting, Gupta examines how the weight of the “model minority” stereotype led her family to unravel. I didn’t know how to tell her that, so I felt like I had to write to her. Growing up Indian American, I didn’t know Asian American history. We didn’t learn that in schools, so I didn’t really understand where I fit into America’s racial hierarchy. I saw this story as if it were my identity, because I didn’t really see an alternative.

Persons: Yush, Gupta, ”, estranging, Jezebel, Ruben Chamorro, —, I’m, I’ve, it’s, she’s, America who’s, we’re, We’re, there’s Organizations: CNN Locations: United States, Philadelphia, He’s, America, White America, Indian, South Asia

☆ Investors’ China aversion is bad for everyone
▼ + stars: | 2023-09-07 | by ( Una Galani | ) www.reuters.com time to read: +7 min

FIERCE RESTRAINTAs a country on the cusp of high-income status, China ought to be a magnet for overseas investors. Companies in the MSCI China Index trade at 10 times their expected earnings for the next twelve months, half the level of the S&P 500 Index. However, assets following these mandates remain insignificant compared to the $1.3 trillion benchmarked to MSCI’s Emerging Markets Index. However, they have played a bigger role in the past decade funding Chinese companies through Hong Kong and U.S. listings. Chinese equities have a combined market value of $15 trillion, greater than Japanese, French, Indian and British stocks combined.

Persons: Xi Jinping, Goldman Sachs, Gavekal Dragonomics, Gavekal, Tesla, John Welling, Dow, Xi, Peter Thal Larsen, Thomas Shum Organizations: Reuters, U.S . Federal, People’s Bank of, Treasury, HK, Companies, Apple, Microsoft, BlackRock, China, WHO, International, U.S, Reuters Graphics Reuters, Dow Jones, Global, Thomson Locations: MUMBAI, China, People’s Republic, People’s Bank of China, United States, Hong Kong, U.S, Gulf, Asia, North America, Shanghai, Shenzhen

"Further progress is likely to become more difficult as base effects fade, and supply-constraints could drive global energy and food prices higher again." Brent crude prices have risen 27% since mid-year and U.S. crude is up 30%, with U.S. retail pump prices already up almost 10% so far since June. Oil and inflation expectationsReuters GraphicsSLOWING DESCENTAnd alongside creeping worries about rising debt supply, the long end of bond markets has been rattled again by the oil price jump. And this has been a far bigger influence on the inflation trajectory than oil prices per se. Yet, restive crude prices will still cloud a messy and tricky battle with inflation expectations just as policy tightening cycles near an end.

Persons: Brent that's, Christian Keller, Akash Utsav, Andrew Goodwin, there's, George H.W, Jamie Freed Organizations: Brent, UBS, Organization for Economic Cooperation, Development, Barclays, Federal Reserve, European Central Bank, Bank of England, U.S, Treasury, Oxford, Monetary Fund, Reuters Graphics Reuters, Reuters, Thomson Locations: Ukraine, Saudi Arabia, Russia, tailwind, U.S, Europe, Britain, West, George H.W . Bush

☆ Paul Krugman warns China is headed for a 'very nasty fall' as Xi Jinping sounds more like a Republican than a communist
▼ + stars: | 2023-09-06 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

China has reached the limit of what it can do to stave off an economic crisis, Paul Krugman wrote. "China is facing a major economic crisis, and they've run to the limits of the things that's been doing to keep its economy afloat," Krugman said. Despite leading the Communist Party of China, Krugman says the authoritarian leader seems more aligned with a conservative Republican, citing how Xi has condemned the "dangers of welfarism." AdvertisementAdvertisementIf not, the economic crisis has the potential to turn into a political one, as China's unemployed citizens begin to doubt their leadership. It preaches Marxism and equality and the coming communist utopia, and practices rapacious, highly unequal capitalism," Krugman said.

Persons: Paul Krugman, It's, Krugman, Yuan, Xi Jinping's, Xi Organizations: Service, New York Times, Communist Party of China Locations: China, Wall, Silicon, Beijing

☆ India's G20 presidency risks ringing hollow as Ukraine war dashes hopes of consensus
▼ + stars: | 2023-09-05 | by ( Clement Tan | ) www.cnbc.com time to read: +10 min

US President Joe Biden, right, and Narendra Modi, India's prime minister, at an arrival ceremony during a state visit on the South Lawn of the White House in Washington, DC, US, on Thursday, June 22, 2023. One of the risks is that by elevating India's presidency of the G20 so much, there are now expectations for India to deliver some concrete breakthroughs. Russia-Ukraine impasseIndeed, the specter of Russia's Ukraine invasion has loomed large over G20 meetings for the various tracks that India has convened. He even labeled it the "biggest achievement" of India's G20 presidency so far — despite Russia and China abstaining. This development serves to buttress India's burgeoning economic clout, the basis of its greater confidence and assertiveness geopolitically.

Persons: Joe Biden, Narendra Modi, India's, haven't, Manjari Chatterjee, Modi, Manjari Chatterjee Miller, Vladimir Putin, Xi Jinping, Putin, Pramit Pal Chaudhuri, Chaudhuri, Sergei Lavrov —, Putin —, CFR's Miller, Eurasia Group's Chaudhuri, Subrahmanyam Jaishankar, Sumedha Dasgupta, Biden, Taiwan —, assertiveness, It's, Pravin Krishna Johns Organizations: White, Bloomberg, Getty, Indian, Shanghai Cooperation Organization, Manjari Chatterjee Miller, Foreign, Council, Foreign Relations, CNBC, Global, African Union, UN, Group Russia's, West, Bharatiya Janata Party, BJP, India's, Economist Intelligence Unit, Moscow, . Warming, Apple, Pravin Krishna Johns Hopkins University's School, International Locations: Washington , DC, New Delhi, India, Ukraine, Pakistan, South Asia, Washington ,, Russia, China, Varanasi, Bali, Eurasia, Asia, U.S, . Warming India, Malaysia, Philippines, Vietnam, Taiwan, Beijing

☆ Euro falls as ECB hike bets take hit on inflation, policymaker comments
▼ + stars: | 2023-08-31 | by ( Samuel Indyk | ) www.reuters.com time to read: +4 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. But, while euro area-wide inflation unexpectedly held at 5.3% this month, underlying price growth fell, complicating matters for the ECB, who now appear more likely to keep interest rates unchanged next month than raise them. ECB rate-setter Schnabel - considered one of the most hawkish members on the ECB - said euro zone growth was weaker than predicted but that does not necessarily void the need for more rate hikes. "I think the fact she is flagging downside risks to growth is putting some downside pressure on the euro." Both sterling and the euro are set for monthly drops of over 1% against the dollar in August.

Persons: Dado Ruvic, policymaker Isabel Schnabel, Schnabel, We've, Michael Brown, Chris Turner, Samuel Indyk, Tom Westbrook, Shri Navaratnam, Kim Coghill, Chizu Organizations: REUTERS, European Central Bank, ECB, Trader, Traders, Federal, Commerce Department, UK, CEE, New Zealand, Aussie, Thomson Locations: Tokyo

☆ Euro slips as ECB policymaker takes cautious tone
▼ + stars: | 2023-08-31 | by ( ) www.cnbc.com time to read: +3 min

The lettering Euro can be seen on a 1 euro coin, taken on 10 August 2023, in Baden-Württemberg, Rottweil. The euro edged back on Thursday after comments from German policymaker Isabel Schnabel failed to give firm clues on whether the European Central Bank will raise rates in September. ECB rate-setter Schnabel said that euro zone growth was weaker than predicted but that does not necessarily void the need for more rate hikes. "We've heard the most influential hawk on the Governing Council take on a much more cautious tone," said Michael Brown, analyst at Trader X. "I think the fact she is flagging downside risks to growth is putting some downside pressure on the euro this morning."

Persons: policymaker Isabel Schnabel, Schnabel, We've, Michael Brown, Chris Turner Organizations: European Central Bank, ECB, Trader, Traders, Federal, Commerce Department, UK, CEE Locations: Baden, Tokyo

☆ The Fed’s Preferred Inflation Gauge Ticked Up in July
▼ + stars: | 2023-08-31 | by ( Jeanna Smialek | More About Jeanna Smialek | ) www.nytimes.com time to read: +2 min

An employment report set for release on Friday is expected to show that while businesses added fewer jobs in August, the unemployment rate remained very low at 3.5 percent. Even after adjusting for inflation, it was up 0.6 percent, a pop from 0.4 percent in the previous report. inflation was widely expected: Various data points that feed into the number, including the Consumer Price Index inflation report, come out earlier in the month. Fed officials will be watching data over the next few weeks as they consider what to do with interest rates at their meeting on Sept. 20. Policymakers have said that the meeting is a “live” one, meaning that they could either lift interest rates or keep them on hold, but several have suggested that at this point they feel that they can be patient in making a move.

Persons: ” Jerome H, Powell

☆ How forensic investigators use DNA, fingerprints and other methods to identify remains after a fire
▼ + stars: | 2023-08-26 | by ( Eric Levenson | ) edition.cnn.com time to read: +14 min

“DNA has been really extremely helpful for us, with the Rapid DNA,” said Alison Galloway, professor emerita of anthropology at the University of California-Santa Cruz, who helped identify remains during the Camp Fire. “If you don’t have that … then it’s a lot more difficult.”In general, forensic experts rely on DNA, dental analysis, fingerprints, medical hardware or circumstantial evidence to try to identify remains. “We’re still diligently working trying to make sure that we can identify (remains), and that’s why that DNA is so important, because we got fingerprints from three,” he said. Galloway, the forensics professor, said one of the advantages of the Rapid DNA technology is in quickly determining whether a DNA swab is usable. Maui asks for family members to come forwardFor Rapid DNA to work, family members of the missing have to willingly submit to DNA swabs.

Persons: ”, Alison Galloway, Santa Cruz, Josh Green, CBS’s, Sarah Salmonese, Go Nakamura, Ken Alba, Jae C, Yuki Iwamura, Patrick T, Fallon, Bryan Anselm, Mike Blake, Matthew A, Foster, Rick Bowmer, Lauren Haley, Makalea Ahhee, Justin Sullivan, Max Whittaker, Zoltan Balogh, Robert Gauthier, Mengshin Lin, Evelio Contreras, CNN Vixay Phonxaylinkham, Lana, Phonoxaylinkham, Marco Garcia, Claire Rush, Myrna Ah Hee, Sui, Ty O'Neil, Ku'u Kauanoe, ZUMA, Matthew Thayer, John Pelletier, “ We’re, Stephen Meer, Sudhin, –, Meer, we’ve, you’ve, you’re, ” Meer, Jonathan Masaki Shiroma, what’s, …, Robert Quinn, “, Robert Quinn’s Organizations: CNN, University of California, New York Times, Getty, Reuters, Staff, US Army National Guard, Maui Police, Facility, AP Volunteers, Grace Baptist, Volunteers, Los Angeles Times, AP, Washington Post, Kahului Airport, Technologies, Kahului, AP Helicopters, Hawaii Army National Guard, Hawaii National Guard, Reuters Residents, ZUMA Passengers, Maui News, ANDE Corp, Forensic Science, Fire, FBI, Maui Emergency Management Agency Locations: Maui, California, Santa, Hawaii, Lahaina , Hawaii, Lahaina, AFP, Wahikuli, Wailuku, Kula , Hawaii, Kula, Kihei, West Maui, Grace, Napili, Honokowai, Honolulu, Maalaea, Kahului, Las Vegas, Church, Lahaina Hongwanji, Paradise , California, Galloway, Ukraine, ”, Butte County

The eight candidates who sparred in the GOP debate still face the tough challenge of chipping away at Trump’s lead in the race. NBC News’ Shaq Brewster watched the debate with a group of two-time Trump voters in Waukesha, Wis.. Asked to raise their hand if the debate made them interested in a candidate other than Trump, all four voters kept their hands down. Still, Benfield plans to support Trump’s campaign next year. Hoosier showdown: GOP Rep. Jim Banks’ Senate run got a boost during the GOP debate, with the conservative group launching an ad on Fox News supporting his bid.

Persons: Trump’s, Shaq Brewster, Scott, Trump, Mike Benfield, Brewster, Ramaswamy, “, ” Benfield, Benfield, ”, Biden, they’re, Peter Alexander, Elyse Perlmutter, Grace Jaworski, Megan Lebowitz, Ron DeSantis, fundraise, Donald Trump, DeSantis, Matt Dixon, David Sachs, Vivek Ramaswamy, Puck, ’ Ryan Reilly, Jim Banks, Banks, John Rust Organizations: GOP, NBC, Trump, New York, Florida Republican Gov, Florida Republicans, Senate, Fox News Locations: Waukesha, Wis, Reno, Nev, Florida, Atlanta, Fulton County

☆ Xi and Putin are seeking to expand the alliance of BRICS nations to challenge the global dominance of the US and the dollar
▼ + stars: | 2023-08-23 | by ( Tom Porter | ) www.businessinsider.com time to read: +7 min

China's Xi Jinping is in South Africa this week for the BRICS summit. Addressing the BRICS summit by video link Tuesday, Russian President Vladimir Putin took swipes at the West, and said the summit represented the "global majority." Together, they make up around 40% of the world's population, around $27.7 trillion of the global economy, and are seen to represent the so-called "Global South" of southern hemisphere nations. Taking on the dollarThere are also proposals on the table to create a BRICS currency to challenge the global dominance of the dollar. AdvertisementAdvertisementChina and Russia may have ambitious plans for the BRICS group, but realizing them still appears some distance away.

Persons: China's, Jinping, Putin, Vladimir Putin, Graeme Thompson, China Xi, Cyril Ramaphosa, PHILL MAGAKOE, Xi Jinping, Steve Tsang, Thompson, Xi, Wang Wentao, Luiz Inacio Lula da Silva, Luiz Inácio Lula da Silva Organizations: Service, Eurasia Group, South, Getty Images, US, SOAS China Institute, University of London, CNN, Russia, Anadolu Agency, Getty Locations: South Africa, China, Russia, Wall, Silicon, Johannesburg, Brazil, India, AFP, Western, Iran, Saudi Arabia, Indonesia, Ukraine, Beijing, Pacific, United States

☆ BYD calls on China automakers to unite, 'demolish the old' in global push
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +4 min

BYD (002594.SZ) used an event this week to mark a production milestone to celebrate a bigger purpose: the emergence of China as a global auto manufacturing powerhouse. China's automakers are locked in a bruising price war that was started by Tesla (TSLA.O) in January and which shows no signs of easing. It ends with a call for China's automakers to "demolish the old legends and achieve new world-class brands," under the slogan, "Chinese Autos". said Li Xiang, CEO of Li Auto, who reposted the BYD video. In July, the industry group representing China's automakers retracted a pledge to avoid "abnormal pricing" brokered between 16 automakers, including BYD.

Persons: Aly, Wang Chuanfu, BYD –, BYD, Li Auto, William Li, Li Xiang, Wang Yuanli, Wall, Wang, Great Wall, Zhang Yan, Brenda Goh, Kevin Krolicki Organizations: Security, Auto, REUTERS, Tesla, FAW Group, HK, BYD's, Technology, China's Auto Business, China Association of Auto Manufacturers, BYD, Volkswagen, Thomson Locations: Auto Shanghai, Shanghai, China, Weibo, Europe

Nelson previously worked at the Fed, where he was involved in discount window policy, including changes made 20 years ago aimed at reducing barriers in part by no longer requiring banks to first exhaust other emergency liquidity resources. Reuters GraphicsA recent Reuters analysis shows that many small banks, and even some large banks, do not conduct frequent tests of the discount window, calling into question their readiness to use it when needed. In recent months the Fed has undertaken a push to get more banks to sign up to and test access to the discount window, and in late July the Fed and fellow bank regulators issued a reminder to banks to do so. Regulatory agencies should make it clear that bank examiners will not view discount window use negatively, he wrote. Bank executives say the potential for public disclosure and negative treatment by bank supervisors discourage use of the discount window, according to a Fed survey of senior bank financial officers taken in May and released last week.

Persons: Bill Nelson, Nelson, Ann Saphir, Andrea Ricci Organizations: Fed, Bank Policy Institute, Bank, Thomson

☆ Biden Orders U.S. to Share Evidence of Russian War Crimes With Hague Court
▼ + stars: | 2023-07-26 | by ( Charlie Savage | More About Charlie Savage | ) www.nytimes.com time to read: +1 min

President Biden has quietly ordered the U.S. government to begin sharing evidence of Russian war crimes in Ukraine with the International Criminal Court in The Hague, according to officials familiar with the matter, signaling a major shift in American policy. The decision, made by Mr. Biden in recent days, overrides months of resistance by the Pentagon, which argued that it could pave the way for the court to prosecute American troops, according to the officials. It was unclear why Mr. Biden let the impasse linger or what finally led him to resolve it. Already, they have shared some of that evidence with Ukrainian prosecutors but had refrained from doing so with The Hague. Since the International Criminal Court was created by a 1998 treaty to investigate war crimes, genocide and crimes against humanity, administrations of both parties have viewed it with wariness and sometimes hostility.

Persons: Biden, Mr Organizations: International Criminal, Pentagon Locations: Ukraine, The Hague, Hague

☆ Adobe's Figma deal faces full-scale EU antitrust probe, sources say
▼ + stars: | 2023-07-24 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

July 24 (Reuters) - Adobe's (ADBE.O) $20 billion bid for cloud-based designer platform Figma will face a full-scale EU antitrust investigation following EU regulators' preliminary review, people familiar with the matter said on Monday. The move underscores antitrust watchdogs' wariness of tech deals where bigger companies may acquire rival start-ups to shut them down. The European Commission earlier this year warned of the threat the deal poses to competition in the market for interactive product design and whiteboarding software. The EU competition enforcer, which is scheduled to finish its initial scrutiny by Aug. 7, did not immediately respond to a request for comment. Figma's Web-based collaborative platform for designs and brainstorming is hugely popular among tech firms including Zoom Video Communications (ZM.O), Airbnb (ABNB.O) and Coinbase (COIN.O).

Persons: Foo Yun Chee, Matthew Lewis Organizations: European, EU, Adobe, Zoom Video Communications, Thomson Locations: Brussels

The tanker Flex Artemis was in the South Atlantic and heading northeast on Thursday, according to Refinitiv vessel tracking. It had carried LNG from Yamal in Russia, according to a trader familiar with the matter, and had arrived in Argentine waters about July 14. The Flex Artemis is carrying around 160,000 cubic meters of LNG, according to Olumide Ajayi, senior LNG analyst at Refinitiv. Leo Kabouche, LNG market analyst at consultancy Energy Aspects, said warm weather in Argentina and the start of the Nestor Kirchner pipeline is likely reducing the call on LNG. Argentina turns away Gunvor-chartered LNG tanker, citing sanctions Argentina turns away Gunvor-chartered LNG tankerReporting by Marwa Rashad in London and Julia Payne in Brussels; additional reporting by Ron Bousso in London and Nicolas Misculin in Buenos Aires; Editing by Josie Kao and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Sergio Massa, Gunvor, counterparty, Olumide Ajayi, Leo Kabouche, Nestor Kirchner, Marwa Rashad, Julia Payne, Ron Bousso, Nicolas Misculin, Josie Kao, Jonathan Oatis Organizations: Energy, Argentina, Thomson Locations: Russia, France, Argentine, Yamal, Ukraine, Geneva, Argentina, Gunvor, London, Brussels, Buenos Aires

☆ How to Treat Loneliness With Medicine - The New York Times
▼ + stars: | 2023-07-14 | by ( Eleanor Cummins | Andrew Zaleski | ) www.nytimes.com time to read: +3 min

“Addressing the crisis of loneliness and isolation is one of our generation’s greatest challenges,” wrote Surgeon General Vivek Murthy in The Times in April, discussing a national framework for rebuilding social connection to combat what he called an “epidemic” of loneliness. If loneliness is an epidemic, how do you treat it? This calls to mind a trip to the pharmacy to pick up a bottle of pills, but treating loneliness the same way doctors treat high cholesterol isn’t exactly the idea here. Even Dr. Cacioppo, who has dedicated her life to studying human connection, including pharmaceutical solutions for loneliness, questions the value of medicalizing it. “We need to be accountable for the well-being of our friends and teammates and others.”Declaring loneliness an epidemic first requires an understanding of what loneliness is and how it works in the brain.

Persons: ”, Vivek Murthy, isn’t, Daniel Russell, Russell who, Cacioppo Organizations: The Times, Iowa State University Locations: The

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