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☆ Ousting Kevin McCarthy has been a disaster for House Republicans
▼ + stars: | 2024-02-15 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Read previewAfter four months of failed votes, retirements, and shrinking the party's already-narrow majority, House Republicans are feeling the harsh effects of ousting then-Speaker of the House Kevin McCarthy from his leadership role in October 2023. Before obtaining the speakership, his highest leadership experience came from his nearly three years as the vice chair of the House Republican Conference, where he had scant experience raising money and campaigning for other Republicans. Because of this narrower majority, Johnson has an increasingly difficult job getting House Republicans to vote in lockstep — practically the only way the conference can pass legislation without relying on Democratic votes. McCarthy also had ample experience fundraising and propping up trailing candidates, attributes that could've helped New York special election candidate Mazi Pilip on Tuesday. AdvertisementOr as one House Republican put it bluntly earlier in February: "Getting rid of Speaker McCarthy has officially turned into an unmitigated disaster."

Persons: —, Kevin McCarthy, McCarthy's, Matt Gaetz, Mike Johnson, Johnson, George Santos, Santos, lockstep —, Donald Trump, McCarthy would've, It's, McCarthy, could've, Mazi Pilip, Johnson — would've Organizations: Service, Republicans, Republican, GOP, Business, House Republican Conference, Democratic Party, Democratic, Trump, House GOP Locations: New York

☆ Russia's economic decline is in only in the early stages, and the country is masking significant 'degradation,' think tank says
▼ + stars: | 2024-02-13 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Russia's economic decline is still in the early stages, according to a London-based think tank. But talk of Russia's economic resilience is misguided, and there are deep-rooted issues that will continue to plague its economy, the think tank said. AdvertisementRussia's robust military spending has been a key factor in propping up its economic growth so far. "Significantly greater isolation and economic degradation is baked into the cake for the Russian economy and people." Russian inflation grew 7.2% year-per-year in January, well above the nation's 4% inflation target.

Persons: —, Mark Sobel, Sobel, Brent, that's Organizations: Service, Official Monetary, Financial, International Monetary Fund, Bloomberg, Yale School of Management . Companies Locations: London, Ukraine, Russia, Oilprice.com, Moscow

☆ DNC alleges RFK Jr. campaign illegally coordinated with outside group on signature gathering operation
▼ + stars: | 2024-02-09 | by ( Aaron Pellish | David Wright | ) edition.cnn.com time to read: +6 min

Kennedy has stated that his goal is to appear on the ballot in all 50 states and DC,” the DNC wrote. But the complaint argues that coordination is required for the ballot access efforts by American Values and Team Kennedy, and thereby the group’s support runs afoul of campaign finance laws. Kennedy campaign manager Amaryllis Fox Kennedy denied coordinating with the outside group in a statement to CNN. In the complaint, the DNC alleges the PAC “must coordinate” with the Kennedy campaign to successfully operate its supplemental signature gathering operation. It’s pretty clear that Trump and his mega donors are propping up RFK Jr. as a stalking horse,” DNC adviser Ramsey Reid said.

Persons: Robert F, Kennedy Jr, ’, Kennedy, “, “ Mr, ” Kennedy, —, ”, Amaryllis Fox Kennedy, Tony Lyons, Bobby Kennedy, ” Lyons, Jr, ” Deirdre Goldfarb, Donald Trump, Tim Mellon, Donald Trump’s, Lis Smith, ” Mellon, “ We’re, Trump, Ramsey Reid Organizations: CNN, Democratic National Committee, White, DNC, ”, American, PAC, Trump, Republican, RFK, America, GOP, RFK Jr Locations: United States, Michigan , Arizona, Georgia

That's because, the DNC argues, many states — including Arizona, Illinois and Michigan — have rules that candidates or their campaigns be the ones collecting ballot signatures, meaning Kennedy's campaign will have to violate federal rules to meet state requirements. “They simply cannot comply with federal law and state law at the same time,” DNC legal counsel Bob Lenhard said on a conference call with reporters. Tim Mellon, a major donor to Donald Trump, gave American Values $15 million last year, according to federal filings. In December, a campaign watchdog group filed a complaint alleging that Never Back Down, a super PAC supporting Republican Ron DeSantis, was coordinating too closely with the Florida governor's since-suspended presidential campaign. But Linhart said the DNC took the unusual step of filing a complaint against Kennedy itself because what was occurring was “striking” and “dramatic” given that some states mandate candidates or their campaigns collect ballot signatures.

Persons: Robert Kennedy Jr, Kennedy, Bob Lenhard, Tim Mellon, Donald Trump, Joe Biden, Trump, ” Tony Lyons, Biden, Ron DeSantis, Linhart, ” Linhart Organizations: WASHINGTON, —, Democratic National Committee, Federal Elections Commission, White, Super PAC, DNC, RFK Jr, Biden, Democratic, Trump, Florida Locations: Arizona , Illinois, Michigan

☆ Disney's excellent quarter may not be enough to fend off activist investor Nelson Peltz
▼ + stars: | 2024-02-08 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. "I've never seen so many stocks go up 7% or more in a day," Jim Cramer said, citing strong performers on Tuesday like chip name Arm Holdings . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, I've, Jim, Nelson Peltz, Wynn, Jim Cramer's Organizations: CNBC, Arm Holdings, Nasdaq, Apple, Nvidia, Disney, Wynn Resorts, The, WYNN

☆ Clocktower's chief strategist says Chinese stocks will likely rally 10% to 15% from here
▼ + stars: | 2024-02-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Jason Lee | APBEIJING — Chinese stocks will likely climb by at least 10% in coming days as authorities signal concerted support efforts, said Marko Papic, partner and chief strategist at Clocktower Group. Mainland Chinese stocks traded mostly higher Wednesday, following gains on Tuesday. A "10% to 15% rally in Chinese equities is likely in coming trading days," he said. Papic said he's been bearish on Chinese stocks for the past 12 months, and didn't rule out the possibility the latest rally "could be a dead cat bounce." Chinese stocks are still down for the year so far, following a 2023 marked by losses.

Persons: Jason Lee, Marko Papic, Papic, Xi Jinping, he's, Clocktower, Xi Organizations: AP BEIJING, Clocktower, U.S, Financial Regulatory Administration, China Securities Regulatory Commission, CNBC Locations: Beijing, China, Shanghai

☆ Warnings, liquidity boost and proverbs — China's tools for propping up its stock market
▼ + stars: | 2024-02-06 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +1 min

Chinese financial authorities have been striving to prop up the country's stocks through various measures, including steps aimed at increasing the liquidity in the market, warnings against malpractices and falling back on proverbs. With the onshore markets already erasing gains after the People's Bank of China announced steps to boost liquidity last month, there are doubts whether this familiar Beijing playbook will have a meaningful impact on markets. On Tuesday, Central Huijin, a unit of the mammoth sovereign wealth fund China Investment Corporation, said it had expanded purchases of exchange-traded funds linked to the country's onshore stocks to safeguard market stability. China Securities Regulatory Commission had also warned Monday against "malicious" short-selling and said it would step up scrutiny of margin financing following a volatile trading session. On Sunday it had assured to protect the interests of investors after onshore markets plunged as much as 3% before paring losses Friday.

Organizations: People's Bank of China, China Investment Corporation, China Securities Regulatory Commission Locations: Beijing, China

☆ The man who shadowed King Charles for a year describes what life for the royal is really like
▼ + stars: | 2024-02-01 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +8 min

The British journalist shadowed King Charles for the BBC documentary, "Charles III: The Coronation Year." (In the US, it's retitled "The Making of a King: King Charles III and the Modern Monarchy.") Prince Charles, Prince Andrew, and Princess Anne ended their respective marriages, and the royal family's largest residence, Windsor Castle, was severely damaged in a fire. King Charles III and Queen Camilla stand on the Buckingham Palace balcony during the Coronation of King Charles III and Queen Camilla on May 6, 2023. King Charles (Dominic West) and Camilla Parker-Bowles (Olivia Williams) in "The Crown" season six.

Persons: —, King Charles, Hardman, Charles, That's, Charles III, Princess Anne, Queen Camilla's, Annabel Elliott, it's, King Charles III, Hardman didn't, Sarah, Duchess, York, Princess Beatrice, Princess Eugenie, Tim Graham, Queen Elizabeth II, . Prince Charles , Prince Andrew, Queen Elizabeth's, Queen Camilla, Brandon Bell, Prince, Wales, Duke of Rothesay, King Charles III —, Queen, King Charles and Prince William, Chris Jackson, REUTERS Hardman, Charles wouldn't, Dominic West, Camilla Parker, Bowles, Olivia Williams, Netflix Hardman, Camilla, he's, Robert Hardman, Queen Elizabeth, Prince Harry, Meghan, Princess Lilibet, Duke, Duchess of Sussex, Prince William, RICHARD POHLE, Omid Scobie, Duchess of, Scobie, Gyles, Elizabeth, Brandreth, they've Organizations: Service, Netflix, Business, BBC, New, Daily Telegraph, Getty, Getty Images, REUTERS, Royal Archives, Abbey, Scobie, Pegasus Locations: British, London, Swiss, York, Klosters, Windsor, Balmoral, Buckingham, Scotland, St James's, propping, Duchess of Sussex

☆ China rolls out fresh property relief measures to stem the fallout from Evergrande's meltdown
▼ + stars: | 2024-01-31 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Officials in China are boosting property sector relief measures to blunt the impact of Evergrande's collapse. The new measures are part of a wider series of economy-boosting initiatives, especially in the real estate sector, which constitutes one-quarter of the country's economy. The crisis in the property sector stems from huge debt and overbuilding in the last decade, which has resulted in a liquidity crisis for many property developers, including Evergrande. The company's troubles sent country's property sector into a tailspin starting in 2022 when it defaulted on some of its offshore bonds. China is moving mountains to hold the real estate sector's crisis from pouring into other sectors.

Persons: — Organizations: Service, Beijing, China's Ministry of Housing, China Mingsheng Banking Corp, China Securities Journal, Guangzhou, Reuters, Bloomberg Locations: China, Hong Kong, Nanning, Guangxi, Chongqing, Suzhou, Shanghai, restructurings

☆ Right-wing media targets Taylor Swift with Super Bowl conspiracy theory ahead of the Super Bowl
▼ + stars: | 2024-01-30 | by ( Oliver Darcy | Andrew Kaczynski | ) edition.cnn.com time to read: +5 min

New York CNN —Right-wing media is burning red at Taylor Swift. “Taylor Swift is an op,” Benny Johnson, a right-wing media personality who boasts millions of followers across different social media platforms, wrote on X. You’re being played.”“The Democrats’ Taylor Swift election interference psyop is happening in the open,” added Laura Loomer, a self-described Islamophobe who has been embraced and promoted by Trump. “It’s not a coincidence that current and former Biden admin officials are propping up Taylor Swift and Travis Kelce. They are going to use Taylor Swift as the poster child for their pro-abortion GOTV Campaign.”“The NFL is totally RIGGED for the Kansas City Chiefs, Taylor Swift, Mr. Pfizer (Travis Kelce),” agreed Mike Crispi, a Salem Media host.

Persons: Taylor Swift, Joe Biden, Swift, Jesse Watters, Travis Kelce, Biden, ” Vivek Ramaswamy, ” Ramaswamy, Jack Posobiec, Roseanne Barr, Posobiec, ” Donald Trump, Barr, “ Taylor Swift, ” Benny Johnson, You’re, ” “, ’ Taylor Swift, ”, Laura Loomer, “ It’s, “, Mike Crispi, ‘, ’ Joe Biden, Kelce, ” Crispi, drivel, Jared Holt, ” Holt, they’re Organizations: New York CNN, Kansas City Chiefs, Media, NFL, Democratic Party, Fox News, Pentagon, Chiefs, Pfizer, The New York Times, Super, Trump, Biden, Salem Media, KC, MAGA Media, Republican Party Locations: New York, Salem

☆ Israel claims a tunnel ran through this Gaza cemetery it destroyed. A visit to the site raised more questions than answers
▼ + stars: | 2024-01-29 | by ( Jeremy Diamond | ) edition.cnn.com time to read: +7 min

The Israeli military stood by its claims, insisting in a press release that a tunnel ran directly through the religious site. Israel claims a tunnel ran through this Gaza cemetery it destroyed. Inside the tunnelThe entrance to the tunnel CNN entered lay in the rubble of what the Israeli military said was a residential building. Large frames also hung on the walls, which the Israeli military said once displayed maps. The men, kneeling or sitting on the wet, cold ground, had been detained by the Israeli military in Gaza.

Persons: Bani, ”, Dan Goldfuss, Goldfuss, –, ” Goldfuss, “, there’s, CNN Goldfuss, Kamal Adwan, propping Organizations: CNN, Israel Defense Forces, –, Israeli, IDF, Medical, Kamal Locations: Bani, Khan Younis, Gaza, Brig, Israel, Israeli

☆ Netanyahu must be removed, say top former Israeli national security officials
▼ + stars: | 2024-01-26 | by ( Alex Marquardt | ) edition.cnn.com time to read: +7 min

CNN —More than 40 senior former Israeli national security officials, celebrated scientists and prominent business leaders have sent a letter to Israel’s president and speaker of parliament demanding that Israeli Prime Minister Benjamin Netanyahu be removed from office for posing what they say is an “existential” threat to the country. “The victim’s blood is on Netanyahu’s hands.”The letter was sent to Israeli President Isaac Herzog on Thursday and to Knesset Speaker Amir Ohana on Friday. The frontrunner in the poll was the National Unity party led by former IDF chief of staff Benny Gantz, currently a member of Netanyahu’s war cabinet. Video Ad Feedback Backlash grows over Israel's Netanyahu seemingly ruling out a two-state solution. Netanyahu told a news conference last week that politicians who are asking him to step down are essentially asking for a Palestinian state.

Persons: Benjamin Netanyahu, Netanyahu, Isaac Herzog, Amir Ohana, “, Moshe Ya’alon, Dan Halutz, Tamir Pardo, Danny Yatom, Nadav Argaman, Yaakov Peri, Shin, Aaron Ciechanover, Avram Hershko, Dan Shechtman, Benny Gantz, aren’t, Yair Lapid, ”, Haim Tomer, ” Tomer, Israel's Netanyahu, Bezalel Smotrich, Itamar Ben Gvir, Biden, Tomer, I’ve, ” Israel Organizations: CNN, Israel Defense Forces, “, Shin Bet, Israel’s, Likud, National Unity, Palestinian Authority, West Bank, Mossad, International Court of Justice Locations: Israel, Iran, United States, Gaza, Qatar, Palestinian, South Africa

☆ Renters are being hit harder by inflation than homeowners are
▼ + stars: | 2024-01-12 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Renters and homeowners experience inflation differently; and right now, renters are taking a much more painful hit. While shelter inflation has come down over the past few months, in December, the shelter index was still 6.2% higher year over year. Inflation divide between renters and homeownersTwo things are driving the divide between how homeowners and renters experience inflation. And 64% of homeowners have a mortgage rate of 4% or lower — more than two and a half percentage points lower than prevailing rates. Even if the typical mortgage payment is higher than a typical monthly rent payment, renters’ incomes tend to be lower than homeowners.

Persons: “, Lisa Sturtevant, Danielle Hale, Realtor.com, ”, Hale Organizations: DC CNN, Bright MLS, Bank of America Institute, BLS, “ Locations: Washington

☆ Bank of England drags Bagehot into the shadows
▼ + stars: | 2023-12-01 | by ( Liam Proud | ) www.reuters.com time to read: +8 min

That is no longer tenable, in part because of reforms to bank regulation that shifted activity from traditional lenders to financial market players. These days, the institutions in need of urgent liquidity are just as likely to be pension funds, insurers or hedge funds. The British central bank’s initial ideas make sense, but only solve part of the problem. The central bank can short-circuit the panic by opening the credit taps. Central banks are only just starting to grapple with what it means to be a lender of last resort in that context.

Persons: Walter Bagehot’s, Andrew Hauser, BoE, WALTER, Gurney, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Reuters, Bank of England, Reuters Graphics Reuters, U.S, Treasury, Federal Reserve, Pensions, . Treasury, Citadel, Millennium Management, City of, U.S . Federal, Gurney & Company, Victorian, Thomson Locations: British, City, City of London, Basel, Overend, Lombard

☆ Elon Musk, the world’s richest man remains, desperate for attention
▼ + stars: | 2023-11-30 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

New York CNN —Elon Musk desperately wants to be liked, despite his pronouncement Wednesday that he doesn’t mind being hated. The sentiment is, like so much of Musk’s public persona, a lie designed to keep the public’s focus squarely on him. Watching the interview, even online, you can feel the awkward energy of that moment — cringeworthy for some, but seemingly invigorating for Musk. On Wednesday, Musk sought to shrug off his most recent anti-Jewish post as a “foolish” mistake that got misinterpreted by the media. Musk clearly has “a fairly straightforward case of internet brain rot,” as the Atlantic writer Charlie Warzel put it in a Threads post.

Persons: New York CNN — Elon Musk, “, ”, Andrew Ross Sorkin, Musk, Rich Guy, White, —, shrug, Charlie Warzel Organizations: New, New York CNN, New York Times DealBook, New York Times, Whites Locations: New York, California, Eastern Europe, Israel, Atlantic

☆ Bank Indonesia to maintain key rate at 6.00% until at least mid-2024
▼ + stars: | 2023-11-21 | by ( Susobhan Sarkar | ) www.reuters.com time to read: +2 min

BENGALURU, Nov 21 (Reuters) - Bank Indonesia (BI) will leave its key policy rate unchanged at 6.00% on Thursday and likely keep it at that level until at least mid-2024, according to a Reuters poll of economists in which a few respondents still expected another rate hike. "Bank Indonesia is likely to keep rates unchanged this month. In a Nov. 14-20 Reuters poll, a strong majority of economists, 27 of 31, expected Indonesia's central bank to keep its benchmark key interest rate (IDCBRR=ECI) unchanged at 6.00% on Thursday. While 12 of 28 put the key rate at 6.00% at the end of June, five had a 6.25% forecast and three had 6.50%. "Our base case is for the first BI rate cut in Q3 2024 ...

Persons: Radhika Rao, Brian Lee Shun Rong, Susobhan Sarkar, Veronica Khongwir, Milounee Purohit, Paul Simao Organizations: Bank Indonesia, Bank, greenback, U.S . Federal, U.S ., DBS, Reuters, Maybank, Thomson Locations: BENGALURU, Asia's, Bank Indonesia

The lies and taunts, which Musk engaged with on social media, turned his life upside down, Brody said. Brody filed a defamation lawsuit last month against Musk, the owner of X, formerly known as Twitter. Online conspiracy theorists soon jumped into the fray. Somehow, someone on social media had found a photo of Brody online and decided he looked like one of the people involved in the clash. The suit alleges that in August after Musk was made aware through his lawyers about Brody’s case for defamation, Musk refused to delete his tweets.

Persons: Ben Brody, Elon Musk, Brody, Musk, —, Alex Jones, Mark Bankston, who’ve, ”, CNN “, ‘ You’re, “ You’re, “, ” Brody, ‘, ” Musk, ’ ” Brody, wouldn’t, Alex Jones Bankston, Sandy Hook, Bankston, Jones, Musk’s, Ben, “ Musk, Paul Pelosi, Nancy Pelosi, “ It’s, I’m, It’s Organizations: CNN, Nazi, Twitter, Sandy, Elementary, University of California Locations: California, Nazi, United States, Riverside , California, Portland , Oregon, Riverside, Oregon, Travis County , Texas

☆ How Santos Spent Donors’ Money: Ferragamo, OnlyFans and Botox
▼ + stars: | 2023-11-16 | by ( Nicholas Fandos | More About Nicholas Fandos | ) www.nytimes.com time to read: +1 min

He had just flipped a Long Island congressional seat, improbably helping deliver Republicans a House majority. Over just a few days last November, Mr. Santos dropped $6,000 at Ferragamo, perhaps some of it on the red designer sneakers he later wore to walk the marble halls of Congress. He paid off his rent, and he pulled out another $1,000 in spending money at an A.T.M. It would have been nothing for the kind of wealthy financier Mr. Santos purported to be on the campaign trail. All of it was being illegally funded by Mr. Santos’s congressional campaign, which wired him $20,000 just after Thanksgiving without ever telling campaign donors or the Federal Election Commission.

Persons: George Santos, Santos, Santos siphoned, propping Organizations: Mr, Commission Locations: Ferragamo, Queens

☆ Morning Bid: Consumers in focus as Walmart reports
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Vidya Ranganathan. Thursday's corporate calendar features a host of earnings reports that will shine further light on the health of the global consumer, as U.S. retailers Walmart (WMT.N), Bath & Body Works and Macy's (M.N) report earnings. Expectations for Walmart ride high after peer Target (TGT.N) surged by almost a fifth on Wednesday in the wake of its consensus-beating holiday sales forecast and upbeat view of its supply chain. Figures on Wednesday showed U.S. producer prices fell at their fastest pace since April 2020, and UK consumer inflation undershot all forecasts. Reuters GraphicsMeanwhile in Asia, Japan's exports are struggling due to slumping China-bound shipments of chips and steel.

Persons: Vidya Ranganathan, Eddie Wu, Christine Lagarde, Jerome Powell, What's, Joe Biden, Xi Jinping, England's Randall Kroszner, ECB's Christine Lagarde, Luis de Guindos, Fed's Loretta Mester, John Williams, Michael Barr, Jacqueline Wong Organizations: Vidya, Walmart, Body, Insider Intelligence, U.S, Bank, Events, Applied Materials, Siemens, SQM, Thomson Locations: U.S, Asia, China, San Francisco, Bath, France

☆ Retail investors in Russia are powering an IPO hot streak that's drawing vodka makers and pawnshops to go public
▼ + stars: | 2023-11-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Russia's stock market is seeing a streak of IPOs. AdvertisementAdvertisementThe Russian IPO market is seeing a streak of firms go public, with vodka makers to gold miners to pawnshop operators selling shares for the first time. Most of the boom in the Russian stock market is being powered by retail traders, who have plowed cash into the Moscow Exchange. AdvertisementAdvertisementThat's incentivized all types of firms to make their public market debut. Western economists have cast doubt over the strength of Russia's stock market, given that foreign inflows and outflows within the Moscow Exchange are frozen.

Persons: —, Yahuralzoloto Organizations: Moscow Exchange, Bloomberg, Service, Retail, Yale Locations: Moscow, Russian, Ukraine, Kaluga, Kristal

☆ Janet Yellen to host China’s top economic official ahead of expected Biden-Xi talks in San Francisco
▼ + stars: | 2023-11-09 | by ( Bryan Mena | Juliana Liu | ) edition.cnn.com time to read: +5 min

Yellen’s talks with China’s new economic tsar will set the stage for the high-stakes potential meeting expected between US President Joe Biden and Chinese President Xi Jinping next week during the Asia-Pacific Economic Cooperation forum in San Francisco. The United States is the host for this year’s summit, which is an annual gathering of top leaders in government and business of the 21 economies in the Pacific Rim. The United States is the host for this year’s summit, which is an annual gathering of top leaders in government and business of the 21 economies in the Pacific Rim. US and Chinese officials are seeking to shore up diplomatic ties and cooperation on economic issues. The International Monetary Fund recently upgraded its forecast for China’s economic growth based on Beijing’s policies aimed at propping up the country’s ailing property sector.

Persons: Janet Yellen, Lifeng, Yellen’s, Joe Biden, Xi Jinping, Antony Blinken, John Kerry, Gina Raimondo, Wang Yi, “, Biden, Xi, ”, Mattie Bekink, Yellen, ” Yellen Organizations: Hong Kong CNN, Economic Cooperation, Washington, Economist Intelligence, Network, Treasury Department, Biden, CNN, Monetary Fund Locations: China, Washington, Hong Kong, Asia, San Francisco, United States, Rim, Beijing, Shanghai, decouple

☆ US finds no major trade partners manipulated currencies
▼ + stars: | 2023-11-07 | by ( David Lawder | ) www.reuters.com time to read: +2 min

REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsWASHINGTON, Nov 7 (Reuters) - The U.S. Treasury on Tuesday said no major trading partners appeared to be manipulating their currencies, but it put Vietnam back onto a foreign exchange "monitoring list," while removing Switzerland and South Korea from the same scrutiny. The Treasury's semi-annual currency reportfor the four quarters ended June 2023 showed that Vietnam, China, Germany, Malaysia, Singapore, and Taiwan were included on its monitoring list. The Treasury said Vietnam was returned to the monitoring list after its global current account surplus shot up to 4.7% of GDP during the monitoring period. Switzerland and South Korea were taken off the monitoring list after they met only one criterion for two monitoring periods in a row. A U.S. Treasury official said that Vietnam does not appear to be "slipping" in its foreign exchange practices nor in its engagement with U.S. authorities on currency issues.

Persons: Kevin Lamarque, Donald Trump's, David Lawder, Paul Simao Organizations: Department of, U.S . Treasury, REUTERS, Rights, U.S, Treasury, Swiss, Thomson Locations: Washington , U.S, Vietnam, Switzerland, South Korea, China, Germany, Malaysia, Singapore, Taiwan, U.S, Japan

☆ Consumers are still spending, but they're under pressure. These stocks still have room to run
▼ + stars: | 2023-11-06 | by ( Pia Singh | ) www.cnbc.com time to read: +12 min

Persistent inflationary pressures have led to depressed levels of consumer spending all year, according to Bank of America. Consumers are still spending — in fact, they're spending more than they are earning — as employment levels and hourly wage growth remain fairly strong . Some analysts see an opportunity to pick up shares of battered-down retail stocks. According to Barclay's Yih, spending levels "almost have to be worse" next year. LPL's Roach similarly expects consumers spending to hit a roadblock in the coming months.

Persons: bode, Neuberger Berman, Steve Eisman, Jeffrey Roach, Adrienne Yih, Yih, Randy Hare, Ross, Polly Wong, Belardi Wong, James Lewis, Huntington's Hare, Bartlett, Chris Kempczinski, Lewis, …, it's, Anthony Chukumba, Chukumba, Wells, Ike Boruchow, Kathleen Entwistle, Entwistle, LPL's Roach, Morgan Stanley's Entwistle, Barclay's Yih, Roach Organizations: Bank of America, CNBC, Consumers, Barclays, Ross, Huntington National Bank, Bartlett Wealth Management, Walmart, Retailers, Republic, Urban Outfitters, Eagle Outfitters, National, Capital, National Vision, Nike, Ross Stores, Morgan Stanley Private Wealth Management, Investments, Citizens JMP Securities, Delta Air Lines, Deutsche Bank Locations: U.S, Wells Fargo

☆ Opinion: What’s Iran’s real plan in its proxy battle against Israel?
▼ + stars: | 2023-11-06 | by ( Peter Bergen | ) edition.cnn.com time to read: +5 min

CNN —Henry Kissinger once observed that Iranian leaders must decide if Iran is a cause or a nation. But neither Iran nor Hezbollah seems to have had a plan for what to do following Hamas’s massacres last month in Israel. On Friday, Hassan Nasrallah, the leader of Hezbollah in Lebanon, spoke publicly for the first time about the war in Gaza. For the moment, both Hezbollah and Israel are exchanging tit-for-tat fire along Israel’s northern border that falls short of anything close to a full-blown war. The Iranians, in short, have enough problems of their own not to start a shooting war with Israel backed by its American ally.

Persons: Peter Bergen, ”, CNN — Henry Kissinger, propping, Bashar al, Assad, Hassan Nasrallah, Nasrallah, Israel —, Manu Brabo Organizations: New, Arizona State University, Apple, Spotify, CNN, Hezbollah, Pentagon, Twitter, Facebook, US Locations: New America, Iran, East, Lebanon, Yemen, Iranian, Iraq, Hamas, Gaza, Lebanese, Israel, Tehran, Syria, Islam, Al Aqsa, Jerusalem, United States

☆ Mortgage Rates Hurt the Housing Market. It’s Been a Different Story for Million-Dollar Homes
▼ + stars: | 2023-11-03 | by ( E.B. Solomont | ) www.wsj.com time to read: 1 min

Deep-pocketed home buyers who are paying cash to avoid rising mortgage rates are propping up the housing market, as high rates keep many borrowers on the sidelines. Prices, sales and inventory of luxury homes—defined as the top 5% of the market—are all outpacing the overall housing market, a shift from late 2021 when wealthy buyers began tapping the brakes, according to real-estate brokerage Redfin .

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