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Money market funds Assets in retail money market funds grew to $1.99 trillion, according to the latest data from the Investment Company Institute . Further, even as money market funds offer relative safety, they can still face some risk. Don't confuse money market funds with money market accounts. Though money market accounts – which are offered by banks – are protected by the Federal Deposit Insurance Corporation, up to $250,000, money market funds are not. Certificates of deposit and high-yield savings accounts Liquidity should be a big factor for investors eyeing bank products like CDs and high-yield savings accounts.

Persons: Jamie Hopkins, Hopkins, Don Grant, Jordan Benold, Lehman, Danika Waddell, BancShares, Waddell Organizations: Federal, Carson Group, Sabre, Investment Company Institute, Investors, –, Lehman Brothers, Federal Deposit Insurance Corporation, Xena, BMO, Ally Financial, CIT Bank, Synchrony, Ally, Capital

☆ France makes high-profile push to be the A.I. hub of Europe setting up challenge to U.S., China
▼ + stars: | 2023-06-19 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

Macron told CNBC France will "invest like crazy" into A.I. "I think we are number one [in AI] in continental Europe, and we have to accelerate," French President Emmanuel Macron told CNBC's Karen Tso last week. watch nowWhile the U.S is seen as the leader in AI by many measures, France hopes to catch up. Underscoring the potential and hype of AI developments, four-week-old French startup Mistral AI raised 105 million euros to fund the company. I think we need a global regulation," Macron said.

Persons: Emmanuel Macron, Macron, Nathan Laine, Karen Tso, OpenAI's, Bruno Le Maire, Jean, Noel Barrot, Paris, Anton Dahbura, Rishi Sunak, Dahbura, … Organizations: Viva Tech, CNBC France, Bloomberg, Getty, PARIS —, French Finance, Digital, CNBC, European Union, Johns Hopkins Institute, Autonomy, Microsoft, OpenAI, Nvidia, Global, EU, Organisation for Economic Co Locations: A.I, PARIS — France, Europe, China, U.S, France, Germany, Britain

☆ The US Air Force is finally retiring the aging A-10. Now it plans to get rid of some the specially trained airmen who guide the Warthog to its targets.
▼ + stars: | 2023-06-19 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +7 min

The US Air Force has begun retiring the A-10, an aircraft famed for its role in close air support. Indeed, the US Air Force is finally retiring the aging A-10 Warthog ground-attack aircraft, which a top official has said "doesn't scare" China. According to Pentagon's budget request for 2024, the Air Force is looking to cut its TACP force by more than 40% over the next three years. If the plan goes ahead, the Air Force TACP community will have a little over 2,100 positions for officers, enlisted troops, and civilian personnel in 2025, down from the 3,700 slots it has currently, a spokesman told Air Force Times. "I think the military is getting ready for a war where we won't have air dominance," a former Air Force Combat Controller told Insider.

Persons: —, Tyler, Mercedee Wilds, Ryan Conroy, Michael Holzworth, Col, Nathan Colunga, Colunga, Stavros Atlamazoglou Organizations: US Air Force, Tactical Air Control Party, Service, China, US Air National Guard, Staff, Tyler Woodward Tactical Air Control Party, US Army, Marine Corps, Air Force, Air Force Times, Air, National Guard, Air Combat Command, Air Force Combat, Combat, Air Commando, 321st Special Tactics Squadron, Navy, Army Green Berets, Marine Raiders, Air Force Special Operations Command, Air Force Special, Squadron, Tech, Warfare, Hellenic Army, 575th Marine Battalion, Army, Johns Hopkins University, Johns Hopkins, School, International Locations: China, Estonian, Kansas, Fort Irwin, California, Ukraine, Afghanistan, Iraq, Estonia, Nevada, Johns

[1/3] The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. "Core inflation is not coming down like I thought it would," Federal Reserve Gov. The U.S. economy was "still ripping along for the most part," he said, with the underlying pace of price increases "moving sideways." The Fed this week ended its run of 10 consecutive rate hikes when policymakers decided to keep the benchmark overnight interest rate in a range of from 5% to 5.25%. Though Fed chair Jerome Powell at a press conference Wednesday said no decision had been made about the upcoming July Fed meeting, investors and other analysts broadly expect the Fed to resume rate increases.

Persons: Sarah Silbiger WASHINGTON, Christopher Waller, Waller, Thomas Barkin, Barkin, I’m, Jerome Powell, Austan Goolsbee, Goolsbee, Howard Schneider, Chizu Nomiyama, Alistair Bell Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, . Federal Reserve, Federal, Silicon Valley Bank, Richmond Federal, Fed, Chicago Fed, Thomson Locations: Washington ,, Norway, Silicon, U.S, Maryland

"Financial stresses in the banking sector are a factor that my colleagues and I are closely watching as we determine the appropriate stance of monetary policy going forward," Waller said. But "it is still not clear that recent strains in thebanking sector materially intensified the tightening of lending conditions," beyond what the Fed was trying to do anyway through its interest rate policy, Waller said. His remarks are the first by a Fed official since policymakers this week held the U.S. interest rate steady. That notion was partly behind the Fed's decision this week to delay further rate increases for at least a single meeting, to take stock of how the financial system and the economy overall are faring. However the Fed is now broadly expected to approve another quarter point rate increase when officials meet on July 25-26.

Persons: Christopher Waller, Waller, Howard Schneider, Chizu Organizations: Silicon Valley Bank, Federal Reserve, Fed, Thomson Locations: Silicon, Norway

WASHINGTON, June 16 (Reuters) - Richmond Federal Reserve president Thomas Barkin said Friday he is comfortable with further interest rate increases if coming data does not show that weakening demand for goods and services is feeding through to slower inflation. "I am still looking to be convinced of the plausible story that slowing demand returns inflation relatively quickly" to the 2% target, Barkin said in comments prepared for delivery to the Maryland Government Finance Officer Association. Many investors now expect the central bank to resume rate increases at its meeting in July. But he did say the focus remained on returning "stubbornly persistent" inflation to the Fed's 2% target, from a current level more than twice that. "The ’70s provides a clear lesson: If you back off inflation too soon, inflation comes back stronger, requiring the Fed to do even more, with even more damage," Barkin said.

Persons: Thomas Barkin, Barkin, I’m, Howard Schneider, Chizu Organizations: Richmond Federal, Maryland Government, Association, Thomson Locations: U.S

[1/3] The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. REUTERS/Sarah SilbigerWASHINGTON, June 16 (Reuters) - U.S. Federal Reserve officials struck a hawkish tone in their first comments since the central bank held the policy interest rate steady at its meeting this week but signaled that rate hikes will likely resume. "Core inflation is not coming down like I thought it would," Federal Reserve Gov. The U.S. economy was "still ripping along for the most part," he said, with the underlying pace of price increases "moving sideways." Though Fed chair Jerome Powell at a press conference Wednesday said no decision had been made about the upcoming July Fed meeting, investors and other analysts broadly expect the Fed to resume rate increases.

Persons: Sarah Silbiger WASHINGTON, Christopher Waller, Waller, Thomas Barkin, Barkin, I’m, Jerome Powell, Howard Schneider, Chizu Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, . Federal Reserve, Federal, Silicon Valley Bank, Richmond Federal, Fed, Thomson Locations: Washington ,, Norway, Silicon, U.S, Maryland

Separately, state agencies said late Thursday that millions of people in Louisiana and Oregon had their data compromised in a security breach. The cyberattack has targeted federal and state agencies. No other federal agencies have confirmed being impacted. And on Thursday, state agencies said 3.5 million Oregonians with driver’s licenses or state ID cards had been impacted by a breach as well as anyone with that documentation in Louisiana. But much of the responsibility now lies on businesses and federal agencies rather than individuals, according to Cattanach.

Persons: “, ” Robert Cattanach, Dorsey, you’re, ”, Clop, Brett Callow, Emsisoft, ” Callow, Aon, they’ve, ” CISA, Allan Liska Organizations: CNN, Infrastructure Security Agency, Whitney, Department of Justice, The Department of Energy, BBC, British Airways, Boston Globe, Sydney Phoenix, US Department of Homeland, Johns Hopkins University, University of Georgia, –, Progress Software Locations: Russian, Louisiana, Oregon, Minnesota, Illinois, Arlington , VA, Baltimore, Georgia’s

But coupled with the anticipated path of inflation, those projections actually indicate monetary policy will grow more restrictive through 2024 on a "real" or inflation-adjusted basis. It's a nuance undergirding why the Fed sees inflation continuing to fall through next year and unemployment rise despite expected lower interest rates. And in fact, that seems to be what many on the Fed intend: A real policy rate of interest that gradually tightens next year even as the "nominal" rate printed in its policy statement declines. Reuters Graphics Reuters GraphicsREAL VS NOMINALUnder the median projections provided this week, monetary policy actually grows slightly more restrictive next year. By the end of 2024 that spread actually widens to 2%, as the interest rate declines but the rate of inflation falls more sharply.

Persons: Jerome Powell nodded, We're, Howard Schneider, Dan Burns, Andrea Ricci Organizations: . Federal, U.S, Reuters Graphics Reuters, Silicon Valley Bank, Thomson Locations: Silicon

More rate increases were coming, she said. LAST MILEThe Fed's pause was partly out of respect for the time lag between rate increases and their impact on the economy. The ECB needs to see the effects of policy go "all the way down to inflation," Lagarde said. "I still think, and my colleagues agree, that the risks to inflation are to the upside," Powell said. "What we'd like to see is credible evidence that inflation is topping out and then beginning to come down."

Persons: Dado Ruvic, Christine Lagarde, Lagarde, Jerome Powell, Powell, Howard Schneider, Dan Burns, Paul Simao Organizations: REUTERS, WASHINGTON, European Central Bank, ECB, U.S . Federal Reserve, The Bank of England, Reserve Bank of Australia, Bank of Canada, Bank of Japan, Reuters, Fed, Reuters Graphics, Thomson Locations: FRANKFURT, New U.S, U.S, Europe

☆ US government hit in global cyberattack
▼ + stars: | 2023-06-15 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +3 min

CNN —“Several” US federal government agencies have been hit in a global cyberattack that exploits a vulnerability in widely used software. A CISA spokesperson had no comment when CNN asked who carried out the hack of federal agencies and how many have been affected. But the news adds to a growing tally of victims of a sprawling hacking campaign that began two weeks ago and has hit major US universities and state governments. As of Thursday morning, the dark website did not list any US federal agencies. Progress, the US firm that owns the MOVEit software, has also urged victims to update their software packages and has issued security advice.

Persons: Eric Goldstein, cybersecurity, “, – Organizations: CNN, Infrastructure Security Agency, Johns Hopkins University, University of Georgia, –, BBC, British Airways Locations: Russian, Baltimore, Georgia’s, Minnesota, Illinois

☆ I made $175,000 last year as a freelance copywriter. Here's how I scaled to quit my 9-to-5 and the perks I offer to land clients.
▼ + stars: | 2023-06-15 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +5 min

Rafael Meneses started freelance copywriting alongside his job as a university advisor in 2019. My first freelance copywriting job was on Upwork. I liked Fiverr because it let freelancers post "gigs" setting out what they offer, so clients would find me. My offer to clients is that I will do whatever they want me to and charge them for my time. When I started making more than my regular salary, and in April 2021, I decided to quit my job and do freelance copywriting full time.

Persons: Rafael Meneses, Meneses, copywriting, I'd, I've Organizations: Fiverr Locations: Miami, Fiverr, copywriting

It was a subtly optimistic message that tempered otherwise hawkish projections that see the policy rate rising higher than market participants anticipated. In fact, investors in contracts tied to the Fed's policy rate see the central bank delivering only one quarter-percentage-point increase by the end of the year. They see about a 65% chance of a rate hike next month, up only slightly from before this week's meeting. A dovish decision, a hawkish statement, and very hawkish dots," wrote economists at the analytics firm of Larry Meyer, a former Fed governor. Fed officials at the median more than doubled their outlook for 2023 economic growth to 1%, from 0.4% in the March projections.

Persons: Fed's Powell, Jerome Powell, Powell, Subadra Rajappa, Larry Meyer, Howard Schneider, Bansari Mayur, Chizu Nomiyama, Paul Simao Organizations: Federal Reserve, Societe Generale, Fed, Market, Nasdaq, Dow Jones, Wednesday, Thomson Locations: WASHINGTON, U.S

It means that the increases in prices will happen, so there will be inflation but that the process of inflation will stop." BARGAININGAt the Fed's annual Jackson Hole conference in Wyoming, Powell laid out systematically what he'd be watching to see if inflation was becoming more persistent. History also teaches, however, that central banks cannot take for granted that inflation due to transitory factors will fade." The Fed kicked its rate increases into overdrive and Powell explained with this June 15, 2022 comment: "Contrary to expectations, inflation again surprised to the upside. Some indicators of inflation expectations have risen, and (inflation) projections this year have moved up notably.

Persons: Jerome Powell's, Don Lee, Powell, We're, we're, Howard Schneider, Paul Simao Organizations: Federal Reserve, Reuters Graphics Reuters, Los Angeles Times, Jackson, Fed, Thomson Locations: U.S, Wyoming

Further rate increases would "take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments," it said. The new projections, adding a hawkish tilt to Wednesday's interest rate decision, show policymakers at the median see the benchmark overnight interest rate rising from the current 5.00%-5.25% range to a 5.50%-5.75% range by the end of the year. Half of the 18 Fed officials penciled in their "dot" at that level, with three seeing the policy rate moving even higher - including one official who sees it rising above 6%. Two Fed officials see rates staying where they are, and four see a single additional quarter-percentage-point increase as likely appropriate. Reporting by Howard Schneider; Additional reporting by Bansari Mayur Kamdar; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Stovall, Howard Schneider, Bansari Mayur, Paul Simao Organizations: Federal Reserve, Market, SFRA Research, Thomson Locations: WASHINGTON, U.S

The Fed is scheduled to release its policy statement and new quarterly economic projections at 2 p.m. EDT (1800 GMT). POLICY COMPROMISEData since the last Fed meeting in early May has left policymakers with a tough set of signals to read, and ample room for debate. The decision won't mean rate hikes are in for an extended pause, or - a point Powell is likely to emphasize - that rate cuts are anticipated anytime soon. The Fed's last set of quarterly projections anticipated the benchmark overnight interest rate would only move down by the end of 2024 as inflation also declined - movements that keep the inflation-adjusted rate of interest roughly the same. A true "pivot" towards looser policy was only seen occurring in 2025, when the policy rate was projected by year's end to decline more than inflation.

Persons: Blerina Uruci, Rowe Price, Jerome Powell, Powell, Howard Schneider, Paul Simao Organizations: Federal, Reuters Graphics Reuters, Rowe Price Associates, Fed, Thomson Locations: U.S

☆ I'm a user-generated-content creator who gets paid to stay in Airbnbs. Here's how I got started and pitched myself to Airbnb hosts.
▼ + stars: | 2023-06-14 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +7 min

Hope's clients have included hosts of Airbnb properties where she's been paid to stay. I left a $16-an-hour retail job that was making me unhappy and job-hopped until I started working at another retail brand. The client wanted organic content, which included videos of me showing off my phone case and videos showing me using the brand in my day-to-day life. As soon as I'd created the content, I'd send it to them with a watermark, and then they'd send me the other half. I pitched my content services to Airbnb hostsI wanted to travel more but I didn't want to pay to travel.

Persons: Chelsea Hope, she's, Hope, I'd, I've, I'm Organizations: UGC, Twitter Locations: Las Vegas, Las, Sedona , Arizona, Airbnbs, Airbnb

☆ Check out the 15-slide pitch deck former Bose engineers and the founders of STAT Health used to raise $5 million for a tiny in-ear wearable to prevent fainting
▼ + stars: | 2023-06-13 | by ( Leena Rao | ) www.businessinsider.com time to read: +3 min

STAT Health sells an in-ear wearable that patients can use 24/7 to track blood flow. So when Lee's elderly father began having repeated fainting sessions, Lee turned to in-ear technology to help solve the problem. His brainchild is STAT Health, an 24/7 in-ear wearable that measures blood flow to the head to better understand symptoms such as dizziness, brain fog, headaches, fainting, and fatigue that occur while standing. STAT Health's in-ear wearable. The wearable was clinically tested at Johns Hopkins University and was shown to predict fainting in users minutes before it happens.

Persons: Long, Daniel Lee, Lee, Paul Jin Organizations: Health, J2 Ventures, BonAngels Venture Partners, STAT Health, Johns Hopkins University Locations: Bose

☆ ‘New Makers of Modern Strategy’ Review: Waging War, Making Peace
▼ + stars: | 2023-06-12 | by ( Dominic Green | ) www.wsj.com time to read: 1 min

Photo: Getty Images/Tetra images RFA group of generals is called a “glitter”; a group of historians an “argumentation.” There is no colorful group noun for academic analysts of strategy. Perhaps, like owls, they form a “college.” In “The New Makers of Modern Strategy,” Hal Brands, a professor of strategy at the Johns Hopkins University’s School of Advanced International Studies, gathers a college of 45 such experts. All are wise after the facts of their field, and each attempts the historian’s equivalent of the owl’s neck rotation—a sweep that, taking in past and present, looks to the future.

Persons: Hal Brands Organizations: ”, Johns Hopkins University’s School, International Studies

But while the Fed in 2019 was asking "'is this as strong as the labor market can get?' Fed rate hikes could have "very significant, uneven short-term impacts" on the job market. So far headline payroll employment growth remains strong. Reuters Graphics Reuters GraphicsWANTING IT BOTH WAYSFor now, though, the Fed might mark the pandemic labor rebound as essentially complete, despite the risks. The economy needs to create about 100,000 payroll jobs a month to keep pace with population growth.

Persons: Bryan Woolston, Michael Madowitz, Raphael Bostic, Trump, Howard Schneider, Dan Burns, Andrea Ricci Organizations: Kentucky, Center, REUTERS, . Federal Reserve, Washington Center for Equitable, Reuters Graphics Reuters, Bureau of Labor Statistics, Atlanta Fed, BLS, American Progress, White House Council, Economic Advisers, Thomson Locations: Frankfort , Kentucky, U.S, Bryan Woolston WASHINGTON, COVID

☆ I made $205,000 in revenue in 4 months and landed brand deals with Lululemon. Here's how I turned my fitness side hustle into multiple income streams.
▼ + stars: | 2023-06-12 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +7 min

I decided to try launching a fitness business but stayed in my job for the time being. I spent the bulk of the money I'd saved hiring a video team to film 11 workout videos. In 2016, I asked Fabletics if I could film workout videos for them in their apparel. I wore the leggings in my YouTube videos and posted the link in the description. People started asking for more YouTube videos, so now we have an option for customers to pay $5.99 for additional workout videos and behind-the-scenes videos.

Persons: Lindsey Bomgren, Bomgren, I've, I'd, there'd, Fabletics, didn't Organizations: Google, YouTube, Lululemon Locations: Minneapolis, AdSense

☆ MLB roundup: Reds down Dodgers in thrilling fashion once again
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +9 min

The Twins wasted a strong start by Pablo Lopez, who allowed just one run on five hits over seven innings. Oakland starter Hogan Harris (1-0), making his first major league start, allowed three runs in five innings. Kutter Crawford (1-3) gave up three runs (two earned) on five hits with three strikeouts over three-plus innings. San Francisco starter Logan Webb Webb gave up four runs on eight hits in 5 1/3 innings. Colorado starter Connor Seabold allowed two runs on two hits, walked two and struck out four in six-plus innings.

Persons: Will Benson, Katie Stratman, TJ Hopkins, Benson, Evan Phillips, Alexis Diaz, Phillips, Mookie Betts, Elly De La Cruz, Randy Arozarena, Jhoan Duran, Isaac Paredes, Pablo Lopez, Alec Burleson, Louis, Jon Gray, Jack Flaherty, Jordan Hicks, Giovanny Gallegos, Ryan Helsley, Ryan Noda, Jace Peterson, Brent Rooker, Jonah Bride, JJ Bleday, Hogan Harris, Rodolfo Castro, Roansy Contreras, Juan Soto, Gary Sanchez, Soto, Sanchez, Michael Wacha, George Kirby, Jesus Sanchez, Luis Arraez, Edward Cabrera, Jordan Lyles, Corbin Carroll, Zach Davies, Emmanuel Rivera, Ketel Marte, Carroll, Davies, Joey Meneses, Dominic Smith, Patrick Corbin, Chris Bassitt, Alejandro Kirk, Bo Bichette, Brandon, Yordan Alvarez, Ronel Blanco, Amed Rosario, Josh Naylor, Josh Bell, Tanner Bibee, Rafael Devers, Kutter Crawford, Michael Harris II, Harris, Nick Anderson, A.J, Minter, Brooks Raley, Pete Alonso, Charlie Morton, Joey Wiemer, Corbin Burnes, Willy Adames, Dean Kremer, Austin Slater, LaMonte Wade Jr, Taylor Rogers, Camilo Doval, Logan Webb Webb, Nolan Jones, Ezequiel Tovar, Connor Seabold Organizations: Cincinnati Reds, Los Angeles Dodgers, Great, Cincinnati, Dodgers, Reds, Rays, Tampa, Minnesota, Cardinals, Rangers, Texas, Athletics, Pirates, Oakland, Pittsburgh, Padres, Mariners, San, Marlins, Royals, Miami, Kansas City, Diamondbacks, Nationals, Arizona, Washington, Blue Jays, Astros, Toronto, Houston, Brandon Belt, Red Sox, Cleveland, Boston, Braves, Mets, National League, Brewers, Orioles, Baltimore, Giants, Rockies, Colorado, Colorado ., Thomson Locations: Cincinnati , Ohio, USA, Los, St . Petersburg, Fla, Bay, Minnesota, Arlington , Texas, San Diego, Seattle, Atlanta, New York, Milwaukee, San Francisco, Denver, Colorado . San Francisco, Colorado

☆ Social Security, Medicare reform fight shows divisions among Trump, DeSantis and Pence
▼ + stars: | 2023-06-08 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +9 min

DeSantis has since reversed himself, assuring in recent months that Republicans are "not going to mess with Social Security." Tens of millions of U.S. seniors depend on Social Security and Medicare benefits, and that number is growing as the population ages. Strong majorities of U.S. adults across the political spectrum consistently say they oppose cutting Medicare and Social Security benefits. But many others, including party leaders, have bristled at accusations that the GOP wants to gut Social Security and Medicare. "Social Security, I would do the same thing," he added.

Persons: Mike Pence's, Ron DeSantis, Pence, Donald Trump, Trump, Joe Biden, DeSantis, Trump pollster, Donald Trump's, Steven Teles, Teles, Andrew Caballero, reynolds, We're, Nikki Haley, South Carolina Sen, Tim Scott, meanwhile, Biden, Sen, Rick Scott, Mitch McConnell, Scott's, Kevin McCarthy, Steve Scalise, Elise Stefanik, Jonathan Ernst, Andrew Bates, Paul Ryan, Ryan, Mitt Romney's, Barack Obama, Lady Casey DeSantis, Peter Zay Organizations: Social Security, Republican, Florida Gov, GOP, Great Society, White, Republican Party, Johns Hopkins University, Niskanen, Team Trump Volunteer Leadership, Grimes Community, AFP, Getty, Social, Medicare's, Insurance, Former South Carolina Gov, Republicans, Senate, U.S . Rep, U.S, Capitol, Reuters, Anadolu Agency Locations: Grimes , Iowa, South Carolina, Ky, Washington , U.S, Congress, Lexington, SC

☆ Kenya's parliament approves appointment of new central banker
▼ + stars: | 2023-06-07 | by ( Duncan Miriri | ) www.reuters.com time to read: +2 min

He will replace Patrick Njoroge, who is retiring after serving two terms as the central bank governor since 2015. In a voice vote, lawmakers adopted the report of the National Assembly's finance committee, which urged the house to back his appointment after vetting his suitability for the post. His predecessor, Njoroge, has maintained stable prices for most of his eight years at the helm. But the World Bank expects growth to edge up to 5.0% in 2023, underpinned by a recovery in agriculture. Reporting by Duncan Miriri; Writing by Alexander Winning; Editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

Persons: Thugge, William Ruto's, Kamau, Ruto, Patrick Njoroge, Duncan Miriri, Alexander Winning, David Evans Organizations: Njoroge, National, Johns Hopkins University, International Monetary Fund, Kenyan, Treasury, Bank, Thomson Locations: Ruto, U.S

☆ Ukraine accuses Russia of blowing up dam to put a massive natural obstacle in the way of its counteroffensive
▼ + stars: | 2023-06-06 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

A huge dam in Ukraine was breached on Tuesday, creating a natural disaster. Ukraine said Russia blew up the damn to try and hamper Ukraine's counteroffensive. An expert said the flood will make it harder to Ukraine to reach occupied territory over the Dnipro river. Podolyak's comment suggests he thinks Russia would struggle to keep Ukraine back without taking such action. Russia and Ukraine both warned earlier in the war that the other side may target the dam.

Persons: —, Mykhailo Podolyak, Volodymyr Zelenskyy, Podolyak, Andrii Yermak, Sergey Radchenko, Vladimir Leontiev, Nova Kakhovka, Zelenskyy, Mustafa Nayyem, Oleksandr Prokudin, Yermak Organizations: Service, Twitter, Russia, BBC, Johns Hopkins School, International, Politico, Kremlin, NATO, Ukraine's State Agency for Restoration, Infrastructure Development, International Atomic Energy Agency Locations: Ukraine, Russia, Dnipro, Nova, Crimea, Kherson, Europe

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