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Israeli assets and the shekel remain under pressure and oil and gold prices are marginally higher than last week. World Markets Impact From MidEast Attacks WanesBlackRock chart on its Geopolitical Risk IndicatorNOWHERE TO RUN TO... Last updated shortly before the weekend events in Israel, BlackRock's Geopolitical Risk Indicator - which attempts to capture market attention to political risks - had indeed crept up to six month highs. Releasing its World Economic Outlook on Tuesday, the International Monetary Fund warned that more volatile commodity prices were a possible reflection of both greater climate and geopolitical risk. And yet hand wringing about geopolitical risk in different corners of the globe can also deflect from rising political risks in core economies - not the least in the United States.
Persons: Brendan McDermid, Vincent Mortier, Anna Rosenberg, Kristina Hooper reckons, Hooper, that's, It's, Amundi's Rosenberg, Pierre, Olivier Gourinchas, Gourinchas, Josie Kao Organizations: New York Stock Exchange, REUTERS, West Bank, International Monetary Fund, IMF, Treasury, Reuters, Thomson Locations: New York City, U.S, Israel, Gaza, Iran, United States, Saudi Arabia, Russia, China, Taiwan, Ukraine
It says something about the way things have been going for President Biden lately that being targeted for impeachment was not the worst news of a tough week. But over the course of the past seven days, Mr. Biden was besieged on multiple fronts, both personal and political, challenging his capacity, threatening his family and jeopardizing his political position. One of his favorite columnists urged him not to run again, sparking more hand wringing in his party. And oh yes, House Republicans opened an impeachment inquiry aimed at charging him with high crimes and misdemeanors. Politics in Washington being what it is today, Mr. Biden and his team exhibited no particular concern over the course of events.
Persons: Biden Organizations: Republicans Locations: Washington
CNN —President Joe Biden is expected to make a final decision soon on sending long-range missiles to Ukraine for the first time, a major step recommended by the State and Defense departments after months of Ukrainian requests, people familiar with the discussions told CNN. Discussions about sending the long-range Army Tactical Missile Systems, also known as ATACMS, picked up substantially in recent weeks, the sources said. Currently, the maximum range of US weapons committed to Ukraine is around 93 miles with the ground-launched small diameter bomb. ATACMS missiles are fired from HIMARS rocket launchers, the same type of vehicle that launches the Guided Multiple Launch Rocket System (GMLRS) missiles that Ukraine already employs. “When we talk about long-range missiles for Ukraine, it is not just a whim, but a real need,” the head of Zelensky’s office, Andriy Yermak, said on Telegram on Monday.
Persons: Joe Biden, Volodymyr Zelensky, CNN’s Fareed Zakaria, Biden, ” Zelensky, Antony Blinken, Lockheed Martin, Andriy Yermak, Abrams, “ I’m, Republican Sen, James Risch of, , Putin, they’ve, Organizations: CNN, State and Defense, Tactical Missile Systems, State Department, Pentagon, Lockheed, Army, Ukrainian, Republican, Aspen Security Forum Locations: Ukraine, Russia, Kyiv, Crimea, France, James Risch of Idaho
The Great College Pricing Sham
  + stars: | 2023-09-10 | by ( James S. Murphy | ) www.businessinsider.com   time to read: +21 min
I use quotation marks, because merit aid is granted to half the students at public colleges and 84% at private colleges. Today the average merit-aid discount at private colleges is $23,000 — leaving the student to cover the remaining $30,000 or $40,000. At four-year public colleges, tuition now accounts for 52% of operational revenue, versus 48% from state funding. To make college more accessible, we need to make greater public investments — at both the state and federal levels — in higher education. James S. Murphy is a higher education policy analyst at Education Reform Now.
Persons: Joe Biden, YouGov, Gen, Gen Zers, You'll, Pell Grant, Dominique Baker, , Getty, Ben Sasse, who's, Sasse, David Feldman, William & Mary, Ford, Feldman, they're, Sandy Baum, It's, There's, Baum, They're, Josh Shapiro, Spencer Cox, shouldn't, James S, Murphy Organizations: Insider, Harvard, of California, Southern Methodist University, Ivy League, U.S . News, Honda, Porsche, University of Florida, McKinsey & Company, University of Oklahoma, University of Kentucky, Ford, Apple, Fordham, Appalachian, William &, Technology, West Virginia University, WVU, Urban Institute, Google, Reform, Twitter Locations: United States, Italian, Appalachian State, America, Pennsylvania, Utah
Interviews with more than a dozen Republican donors and their allies revealed hand-wringing, magical thinking, calls to arms and, for some, fatalism. “If things don’t change quickly, people are going to despair,” Mr. Levine said in an interview. He is among the optimists who believe Mr. Trump’s support is not as robust as the polls suggest and who see a quickly closing window to rally behind another candidate. Some donors have backed Mr. Trump’s rivals despite believing that he is unbeatable in the primaries. “You’re at 2 percent, and he’s at 53 percent,” he recalled telling her, in only a slight exaggeration of Mr. Trump’s polling advantage.
Persons: Trump, ” Mr, Levine, Levine’s, missive, Tim Scott of, Fred Zeidman, Nikki Haley, “ You’re, Organizations: Republican, South Locations: Tim Scott of South Carolina, Texas, South Carolina
Inflation showed its sticky nature in July, rising slightly as increases in services costs offset a decline in the price of goods, the Bureau of Economic Analysis reported on Thursday. The personal consumption expenditures price index, a metric closely followed by the Federal Reserve, rose 0.2% for the month and 3.3% for the 12-month period. The core index, stripping out energy and food costs, rose 0.2% and 4.2%, respectively. “The decline in house prices appears to have abated, which means that the contribution from shelter to core inflation next year may stabilize if not increase. Upside inflation risk is also present in healthcare services where insurance prices are expected to rise this October along with a continued upward pressure on labor demand in the sector, thus suggesting higher wage costs.”
Persons: Joseph Brusuelas, Jerome Powell, ” Powell, , Shana Orczyk Sissel, Joe Davis Organizations: Economic, Federal, RSM, Dow Jones, Banrion Capital Management, Vanguard Locations: , Wyoming
They are: BOCIP China Value A Fidelity China Focus A Dist USD Ninety One GSF All China Eq A Acc HKD The first two have a value-style tilt – and not only beat the MSCI China Index in the first half of this year, but also in all of 2022, according to Morningstar. Although both value and growth China funds have generally posted losses over the three years ended July 2023, growth has lagged value by 12% a year, Liang said. However, she was quick to point out that just focusing on a single investment style such as value versus growth isn't enough. In terms of Morningstar's fund ratings — based on factors the firm calls people, process and parent — Schroder's ISF China Opps and FSSA China Growth have gold ratings for strong performance in the "people" and "process" categories. Closely watching valuations helped Schroders China's portfolio manager take some timely profits on "some overheated information technology" stocks, Liang said.
Persons: Warren Buffett, , Claire Liang, Morningstar's, Liang, Benjamin Graham's, Goldman Sachs, It's, Timothy Moe Organizations: Morningstar, Fidelity, Acc, China, House Research Institute, Netflix, Suzhou Maxwell Technologies Locations: China, Fidelity China, Asia, Suzhou
Opinion: The shattering aftermath in Maui
  + stars: | 2023-08-13 | by ( Richard Galant | ) edition.cnn.com   time to read: +16 min
CNN —The Polynesian demigod Maui was so powerful he could raise islands up from the ocean floor and capture the sun to slow it down. We know Lahaina will be rebuilt, and the government response — city, state and federal — will be a huge part of that. “You can beat the drum of ‘women’s rights’ and defend tooth-and-nail women’s sports, so long as you only do so to denigrate trans women.”For more on the World Cup:Shaista Aziz: This Women’s World Cup has been unlike any other. That’s a great thingAmy Bass: The US loss at the Women’s World Cup sends a clear messageBill Bramhall/Tribune Content AgencyLet’s make a deal? In a country where federal prosecutors overwhelmingly win their cases, Trump’s odds of going to trial and winning both federal cases are slim — and he may face similarly daunting odds in the other cases.
Persons: Bill Weir, Jeff Melichar, ” Clay Jones, Melichar, , Shaw, Naka Nathaniel, Kaua’i “, , ALICE, Lawrence Downes, ” Drew Sheneman, Peter Bergen, Laura Tillman, ” “, David Petraeus, ” Bergen, Tillman, Donald Trump’s, Joe Biden’s, ” Mary Ziegler, ” Ziegler, Roe, Patrick T, Brown, Wade, Kevin McCarthy, Biden, “ Biden, Julian Zelizer, ” Dana Summers, Donald Trump, Podcaster Megyn Kelly, “ I’m, Nicole Hemmer, Megan “ Rapinoe, Kelly, Shaista Aziz, Amy Bass, Bill Bramhall, Will Handelsman, it’s, Trump, William D, Cohan, Puck, David Rubenstein, Scott Galloway, Jill Filipovic, “ Trump, Galloway, pardoning, ” Filipovic, , Jesus, Kelli Rhee, Rhee, ” Don’t, Drew Sheneman, Agency Brian Elmore, Sen, Elizabeth Warren, Adam Kinzinger, Ukraine Aanchal Saraf, Rebecca H, Oppenheimer’s, Joseph, I’ll, Neil J, Holly Thomas, Sara Stewart, “ Oppenheimer, Christopher, “ Barbie, “ Barbie ”, ” Stewart Organizations: CNN, Coast Guard, Honolulu Civil, , Aloha, New York Times, , Agency, UN, Republican, GOP, , Republicans, Democratic, Federal, FIFA, US, National Soccer Team, New York University, Trump, Arnold Ventures, Ukraine Aanchal, Warner Bros . Locations: Maui, Lahaina, Hawaii, Naka, Hilo, Kaua’i, Afghanistan, Afghanistan’s, Kabul, Ohio, California , Vermont, Michigan, Georgia, Trump, Ukraine
An increase in prices at the pump late in the month will likely be reflected in the August inflation report. Economists polled by Reuters had forecast the CPI would rise 0.2% last month and by 3.3% on a year-on-year basis. Reuters GraphicsThe CPI report is one of two before the Fed's Sept. 19-20 policy meeting. Underlying inflation was curbed by a 0.3% drop in core goods prices, which followed a 0.1% dip in June. But with worker productivity rising, economists are optimistic that labor costs will be contained.
Persons: Jim Vondruska, Will Compernolle, Lucia Mutikani, Paul Simao Organizations: Shoppers, REUTERS, Federal Reserve, Labor Department, Fed, Reuters, Financial, Treasury, Services, Reuters Graphics Reuters, Thomson Locations: Chicago , Illinois, U.S, WASHINGTON, New York
But lately, he's been having trouble squaring that passion with a growing problem: a glut of underqualified real-estate agents. "The general public deserves so much better than what the majority of real-estate agents provide." A threat to the industryThe vast majority of real-estate agents are independent contractors who rely on commissions. But despite the ease with which home shoppers can now browse homes online, buyers and sellers still see themselves as dependent on real-estate agents. And if those people don't have the ability to become a real-estate agent or a Realtor, then they lose their access to representation."
Persons: Bret Weinstein, he's, Weinstein, they're incentivized, It's, appraisers, they're, they'd, Lawrence Yun, Stephen Brobeck, Brobeck, Inman, that's, There's, Jessica Reinhardt, Reinhardt, bristled, who's, Reinhard, James Rodriguez Organizations: Realtors, Consumer Federation of America, National Association of Realtors, NAR, Consumers, CFA, Denver Metro Association of Realtors Locations: Denver, Texas, Massachusetts, Michigan, Pennsylvania
His travel extended well outside of traditional hot spots for a primary campaign, including events in Wisconsin and Oklahoma. Now, DeSantis’ political operation says it is embracing his position as an underdog. But that leaves questions about one of the largest expenses on DeSantis’ first quarter fundraising reports: private travel. DeSantis’ campaign has paid nearly half a million dollars in travel expenses to a company that didn’t exist until two days before he launched his White House bid. In guidance to some donors and supporters, the campaign foreshadowed that they expect these interactions to show DeSantis’ “fiery” side.
Persons: Ron DeSantis, DeSantis, Donald Trump, , Generra Peck, pollster Ryan Tyson, Sam Cooper, Ethan Eilon, Nick Iarossi, , ” Iarossi, Peck, , Adam Putnam, Trump, it’s, ” Iarossi siad, Elon, N2024D, Scott Wagner, Andrew Romeo, Bud Light, Dylan Mulvaney, Fox, Laura Ingraham, Don’t, ” Ingraham, Bud, “ They’re Organizations: CNN, Florida Gov, White, Trump, , N2024D, Tesla, New York Times, Republican, Fox, Disney, State Board of Education Locations: Florida, Utah, Park City, Tallahassee, Wisconsin, Oklahoma, Georgia, jetset, Miami, South Carolina
DeSantis’ remarks Monday in Tega Cay, South Carolina, were a near carbon copy of the speech he has delivered at campaign stops for weeks. Over the weekend, a spokesperson for DeSantis’ campaign confirmed to CNN it let go of some staffers, after Politico reported that “fewer than 10 staffers” in event planning were cut on Thursday. Over six weeks, DeSantis had spent $686,000 on travel including expenses for private jets, according to campaign finance records, and his payroll topped $1 million. “In the second quarter, we were a candidate for about five and a half weeks, our campaign raised $20.1 million dollars. Lu Aiken, a member of Republican Women Rising in South Carolina, said she was undecided but DeSantis was at the top of her list.
Persons: Ron DeSantis, Joe Biden, ” DeSantis, , CNN’s Jake Tapper, , Donald Trump’s, DeSantis, Trump, we’ll, I’ll, Tapper, , , Kim Reynolds, “ We’re, Donald Trump, Rupert Murdoch’s, Lu Aiken, we’ve, Ron, ” Jonathan Sievers Organizations: CNN, Florida Gov, Politico, GOP, Trump, Iowa Republican Gov, Republican, Fox News, Disney, ” Republican, Republican Women Rising Locations: South Carolina, Delaware, Tega Cay, kickstart, Carolina, Iowa, Florida, Utah, Park City , Utah, , United States, DeSantis, Trump, Weddington , South Carolina
A strike could be one of the costliest in at least a century, with the impact of a 10-day strike topping $7 billion, according to one think tank. UPS pilots, who belong to a different union, would also stop flying in solidarity with the striking workers. The Teamsters have been holding "practice pickets" in major cities around the country to keep pressure on UPS. On the other hand, UPS is the largest employer of Teamsters at a time when unions are fighting to grow. "We believe an August 1 strike at UPS remains possible but not yet probable," Susquehanna analyst Bascome Majors said in a client note.
Persons: Mike Blake, Sean O'Brien, Joe Biden, Bascome Majors, Lisa Baertlein, Priyamvada, David Shepardson, Chris Reese, Josie Kao Organizations: teamsters, UPS, REUTERS, United Parcel Service, Teamsters, International Brotherhood of Teamsters, Twitter, Reuters, Thomson Locations: L.A, Los Angeles , California, U.S, United States, Susquehanna, Los Angeles, Bengaluru, Washington
Existential hand-wringing has always been part of Hollywood’s personality. But the crisis in which the entertainment capital now finds itself is different. They joined 11,500 already striking screenwriters, who walked out in May over similar concerns, including the threat of artificial intelligence. Actors and writers had not been on strike at the same time since 1960. “Now it’s a walled-in vacuum.”
Persons: wringing, , ” Fran Drescher
Concert season is so weird right now
  + stars: | 2023-07-08 | by ( Lisa Respers France | ) edition.cnn.com   time to read: +5 min
Which “hurls” us into this week’s newsletter…Something to sip on…Pink performs on stage during a concert in Vienna, on July 1. ALEX HALADA/AFP via Getty Images“No home training.” – That’s what my late grandmother would have said about people who are throwing things at artists during concerts these days. Because clearly, if you are throwing things during a concert, you want to be a part of the performance. The married couple have a new weekly podcast, “The Best Podcast Ever.” Part of iHeartMedia’s Outspoken series, the project aims to amplify voices throughout the LGBTQ+ community. “The Best Podcast Ever” debuts July 10.
Persons: Pink, ALEX HALADA, , Lil Nas, Bebe Rexha, wilding, You’re, Tik tok, don’t, Charlie Puth, Adele, … Harrison Ford, Indiana Jones, That’s, ” “ Oppenheimer, Barbie ”, “ Barbie, Miranda Maday, Valerie Macon, Symoné, Miranda Pearman, , Count, … Andrew Ridgeley, George Michael, Wham, Andrew Ridgeley, It’s, Michael Organizations: CNN, Getty, Lucasfilm, BEST, Netflix, Wembley Locations: Vienna, AFP, Stockholm, New York City, Vegas, Beverly Hills, China, England
Bret Stephens: Gail, happy Almost Independence Day. Gail Collins: Well gee, Bret, happy Almost Independence Day back. If you’re thinking of the Supreme Court, I’m happy to join in any hand-wringing. Public education: broken. And the most broken thing of all: public trust.
Persons: Bret Stephens, Gail, Gail Collins, gee, Bret, Hope you’re, you’ve, Alana Newhouse Organizations: Roman Catholic Locations: Lebanon, Brazil
CNN —The world just got a hint of a tantalizing but possibly even more dangerous future without Russian President Vladimir Putin. The Western stakes in the Ukraine war rose significantly as a result. There’s now no doubt that the war Putin unleashed to wipe Ukraine off the map poses an existential threat to his political survival. This would be good news for the West, which has bankrolled and armed the country’s fight for its life. After this weekend, this new reality will require the West to once again examine its balancing act to save Ukraine.
Persons: Vladimir Putin, Yevgeny Prigozhin flagrantly, Prigozhin’s Wagner, , Putin, There’s, Oz, Ukraine John Herbst, CNN’s Christiane Amanpour, “ Putin, Prigozhin’s, Moscow’s, Prigozhin –, Africa –, Prigozhin, he’s, CNN’s Kevin Liptak, Biden, , David Petraeus, Petraeus, , Ramzan Kadyrov, Wagner, Robert English, Alexei Navalny, Alexander Lukashenko, “ It’s, Antony Blinken, placated –, Blinken, Will Hurd, ” Hurd, Hurd –, Donald Trump –, Trump Organizations: CNN, White, Kremlin, NATO, Western, Russian Federation, Union, CIA, Internet Research Agency, School of International Relations, University of Southern, Belarusian, , Republican, GOP, Moscow Locations: Ukraine, Moscow, Europe, Belarus, Russian, Russia, Syria, Africa, France, Britain, Germany, Washington, “ State, University of Southern California, NATO, Crimea, Texas
‘The Bear’ Season 2 Puts a Little Optimism on the Menu
  + stars: | 2023-06-23 | by ( Tejal Rao | ) www.nytimes.com   time to read: +1 min
There were flashbacks, in the first season of “The Bear,” of a toxic chef who trashed cooks on the line, telling them they’d be better off dead. But here the show seems keen to remind us that fine dining can work differently, and that wonderful people are still scattered throughout it. “The Bear” always blurred the lines between family and workplace in ways that felt both tender and menacing, and the most nightmarish kitchen scene takes place not in a professional kitchen, but at a Berzatto family Christmas at home a few years back, when Carmy’s brother Michael was still alive. Jamie Lee Curtis is devastating as their alcoholic mother who can’t get through cooking and serving a beautiful holiday dinner — an elaborate Feast of the Seven Fishes — without wringing guilt and shame from her children. Her inability to host offers a glimpse at what shaped the siblings and warped their relationships to cooking, but it’s also a razor-edged contrast to the cooks’ growing sense of hospitality as instinctual and deeply fulfilling.
Persons: Michael, Jamie Lee Curtis, can’t, it’s
The mid-2010's saw an uptick in U.S. college closures, particularly among private nonprofit schools. This trend has affected tens of thousands of college students across the country. Since 2016, 91 U.S. private colleges have closed, merged with another school, or announced plans to close, according to a CNBC analysis of data from Higher Ed Dive. About 95% of U.S. colleges rely on tuition, according to Franek, meaning they rely on money from students to operate. Watch the video above to learn what headwinds higher education is facing and hear from students affected by college closures.
Persons: Robert Franek, We'll, Fitch, Emily Wadhwani Organizations: CNBC, The Princeton
But the willingness by Universal to experiment — to challenge the “this is how we’ve always done it” thinking — seems to have paid off. Universal has generated more than $1 billion in premium V.O.D. revenue in less than three years, while showing little-to-no decrease in ticket sales. In some cases, box-office sales even increased when films became available in homes, which Universal has decided is a side effect of premium V.O.D. Universal, for instance, made “Minions: The Rise of Gru” available for premium V.O.D.
Persons: , , Organizations: Universal Pictures, Dominion, , Filmmakers, Universal Locations: Belfast
As big-cap tech approaches new highs, some put more emphasis on equal weight. With more than $7 trillion indexed to the S & P 500, this is not an academic debate. With the S & P 500 up 8% this year, the average stock, as represented by the S & P Equal Weight ETF (RSP), is up a measly 0.5%. The RSP has underperformed the market-cap weighted S & P 500 month-to-date, quarter-to-date, and year-to-date. An argument could be made that active managers invest more like an equal-weight index.
CHICAGO, May 17 (Reuters) - The U.S. supply chain is healing from early pandemic shocks that sent shipping costs skyrocketing and squeezed supplies of everything from toilet paper to pasta, but more than three years later, material shortages and hiring woes linger. Speakers from Walmart (WMT.N), Colgate-Palmolive (CL.N), Toyota (7203.T) and other companies will discuss their supply-chain strategies at the Reuters Events supply chain conference in Chicago on Wednesday and Thursday, as inflation and interest rate hikes threaten to tip the economy into recession. "Freight costs, logistics, have gone down significantly," said Mario Guerendo, who oversees global supply chain for vehicle engine maker Cummins Inc (CMI.N). After spending whatever it took to keep store shelves stocked during the early days of the pandemic, supply chain executives now are wringing out costs to shelter profits from eroding demand, said Alan Amling, distinguished fellow at the University of Tennessee's Global Supply Chain Institute. "That's a really good thing for the supply chain."
Speakers from Walmart (WMT.N), Colgate-Palmolive (CL.N), Toyota (7203.T) and other companies will discuss their supply-chain strategies at the Reuters Events supply chain conference in Chicago on Wednesday and Thursday, as inflation and interest rate hikes threaten to tip the economy into recession. "We've still got certain sectors that are up and some that are down, which was a feature of the pandemic," Croke said. That's even true within sectors, Croke added, pointing to recent manufacturing data, which remained depressed even as segments like motor vehicles reported gains. After spending whatever it took to keep store shelves stocked during the early days of the pandemic, supply chain executives now are wringing out costs to shelter profits from eroding demand, said Alan Amling, distinguished fellow at the University of Tennessee's Global Supply Chain Institute. "That's a really good thing for the supply chain."
Joe Biden’s dreadful poll
  + stars: | 2023-05-10 | by ( Opinion Geoff Duncan | ) edition.cnn.com   time to read: +7 min
CNN —There’s no other way to slice it: Donald Trump is the clear GOP White House frontrunner for 2024. His reelection is not out of the question, given President Joe Biden’s dreadful showing in recent opinion polls. Geoff Duncan — APThe political world was rocked by the recent Washington Post/ABC News poll pegging Biden’s approval rating at a jaw-dropping 36%, a new low point for his presidency. Even polls that haven’t been quite as dire for Biden, like CNN’s Poll of Polls, showed his average approval at 40%, with 55% disapproving. The 2022 election results proved that the GOP cannot simply rely on Biden’s vulnerabilities while ignoring Trump’s.
Even in your misery, experts say it's important to look for signals that the job might get better. I'm not sure if it's the job, or if it's me, or what, but I need some advice. Late last year, I got laid off late from a job I really liked and was good at. I'm glad my job is remote because I've cried so many times since I started. Years ago, when I was a few months into a new job, a friend asked me how I liked it.
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