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☆ CNN’s new chief faces a crucial test on several fronts that will define the network’s future
▼ + stars: | 2023-08-30 | by ( Oliver Darcy | ) edition.cnn.com time to read: +7 min

Discovery chief executive could have waited to appoint a singular leader of CNN after firing his former hand-picked network boss Chris Licht. By appointing a new chief executive and chairman, he’s taking an inherent risk as the 2024 presidential cycle heats up. Under former network boss Jeff Zucker, staffers never questioned what CNN’s mission statement was. It will be illuminating to hear more from Thompson on this matter, given he will also be responsible for CNN’s editorial. During his decades in media, Thompson earned a reputation for being a confident executive with thick skin who masterfully executes a vision, all while maintaining the support of the troops.

Persons: CNN —, Mark Thompson, Thompson, we’ve, ” Thompson, “, ►, Bob Iger, ” ► It’s, David Zaslav, Chris Licht, —, Amy Entelis, Virginia Moseley, Eric Sherling, David Leavy —, Zaslav, he’s, Jeff Zucker, Donald Trump, ► Licht, Licht, Zucker, Chris Cuomo, Don Lemon, nosediving, Licht’s, ” ►, Trump, They’ve Organizations: CNN, CNN — It’s, The New York Times, BBC, Times, Warner Bros . Discovery, MSNBC Locations: Hudson Yards

The weather system is not expected to hit major oil producing platforms in the U.S. Gulf of Mexico. However, oil major Chevron Corp (CVX.N) evacuated some staff from three platforms in the region. Expectations of a steep decline in U.S. crude oil stockpiles have also benefited oil prices, UBS analyst Giovanni Staunovo said. U.S. crude oil inventories are expected to have dropped by 3.3 million barrels in the latest week, according to an extended Reuters poll on Tuesday. "Even with the potential for some demand destruction (from hurricane Idalia), the coming crude oil supply squeeze is becoming more painfully obvious," said Price Futures Group analyst Phil Flynn.

Persons: Hurricane Idalia, Idalia, Robert Yawger, Yawger, Giovanni Staunovo, Baker Hughes, Phil Flynn, Shariq Khan, Natalie Grover, Emily Chow, Josie Kao, Nick Zieminski Organizations: Kyodo, REUTERS Acquire, Companies, Florida U.S, Hurricane, Brent, U.S, West Texas, Federal Reserve, Hurricane Center, Labor, Chevron Corp, Chevron, UBS, American Petroleum Institute, Futures, Thomson Locations: Idemitsu, Ichihara, Tokyo, Japan, BENGALURU, Florida, Miami, U.S . Gulf of Mexico, Mexico, Gulf of Mexico, Bengaluru, London, Singapore, Houston

Mandatory credit Kyodo/via REUTERS Acquire Licensing RightsBENGALURU, Aug 29 (Reuters) - Oil prices edged higher on Tuesday as Hurricane Idalia intensified as it headed towards Florida's Gulf Coast, threatening to hit crude oil supplies in an already tightening market. Brent crude oil futures rose 34 cents, or 0.4%, to $84.76 a barrel by 11:44 a.m. EDT [1544 GMT], while the U.S. West Texas Intermediate futures rose 36 cents, or 0.5%, to $80.46 a barrel. U.S. crude oil inventories are expected to have dropped in the latest week, according to a preliminary Reuters poll on Monday. On the demand front, investors are monitoring data from major economies for further clues on interest rates this year and next. Federal Reserve Chair Jerome Powell on Friday said the U.S. central bank may need to raise interest rates further to cool stubborn inflation.

Persons: Idalia, Phil Flynn, Jerome Powell, Shariq Khan, Natalie Grover, Emily Chow, Louise Heavens, David Goodman, Mike Harrison Organizations: Kyodo, REUTERS Acquire, Rights, Brent, U.S . West Texas, Chevron, Marathon Petroleum, American Petroleum Institute, Futures, Federal, Thomson Locations: Idemitsu, Ichihara, Tokyo, Japan, Gulf, U.S, Florida, Cuba, Mexico, Garyville , Louisiana, United States, Beijing, Bengaluru, London, Singapore, Houston

A record 38 QDII funds had been launched this year until August 17, outpacing the 31 funds launched in 2022, Morningstar data shows. Tianhong, which is planning new QDII products, obtained a $120 million fresh QDII quota in July, less than it had hoped for. Rather than foreign capital selling China equities, this time it's Chinese investors’ outbound investment,” Liu said. HUGE DEMANDThe QDII program, launched in 2006, remains a key outbound investment channel for mainland Chinese investors, alongside the Qualified Domestic Limited Partnership (QDLP) programme. Tracy Liu, an individual investor working in the information technology industry, invested in an India-focused QDII fund in March.

Persons: Aly, Ivan Shi, Liu Dong, Becky Liu, Liu, ” Liu, Desiree Wang, Tracy Liu, Summer Zhen, Samuel Shen, Jason Xue, Vidya Ranganathan Organizations: REUTERS, Morningstar, Domestic Institutional, Nasdaq, Ben Advisors, Connect, Bond, U.S, Dow Jones, State Administration of Foreign Exchange, Tianhong, Management, Ant Financial, Standard Chartered Bank, Reuters, Qualified Domestic Limited, Asset Management Association of China, Guangfa NASDAQ, Technology, Morgan Asset Management, Morgan Asset Management China, Thomson Locations: Shanghai, Shenzhen, China, U.S, HONG KONG, SHANGHAI, Hong Kong, Vietnam, India, outflows, Japan, Russia

☆ Japan regulator to monitor potential BOJ impact on regional banks
▼ + stars: | 2023-08-29 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +1 min

[1/2] A man walks at the headquarters of Bank of Japan in Tokyo, Japan, January 18, 2023. The Financial Services Agency (FSA) "will monitor how potential changes in the financial markets and client situations will affect regional banks' profits and health," the regulator said in its annual policy outlook released on Tuesday. Large banks have shortened the duration of their bond portfolios in anticipation of higher yields, but analysts say some smaller, regional banks do not have such flexibility. The FSA said in the policy outlook that it would "encourage regional banks to take necessary steps ahead of time" to address potential changes in the financial and economic situations. The policy outlook, set yearly, lays out guidelines for the FSA's supervision and direction of banks and other financial firms.

Persons: Issei Kato, Makiko Yamazaki, Sam Holmes Organizations: Bank of Japan, REUTERS, Rights, Financial Services Agency, Thomson Locations: Tokyo, Japan

Meanwhile, Hurricane Idalia is expected to strengthen into a major hurricane with maximum sustained winds of 125 miles per hour (201 kilometers per hour) before hitting the northwest coast of Florida early on Wednesday, according to the U.S. National Hurricane Center (NHC). The weather system is not expected to hit major oil producing platforms in the U.S. Gulf of Mexico. However, oil major Chevron Corp (CVX.N) evacuated some staff from three platforms in the region. Production was continuing at Chevron-operated Gulf of Mexico oil and gas facilities. U.S. crude oil inventories are expected to have dropped in the latest week, according to a preliminary Reuters poll on Monday.

Persons: Brent, Hurricane Idalia, Idalia, Robert Yawger, Yawger, Shariq Khan, Natalie Grover, Emily Chow, David Goodman, Mike Harrison, Josie Kao Organizations: Kyodo, REUTERS Acquire, bbl U.S, Hurricane, . West Texas, Brent, U.S, Federal Reserve, National Hurricane Center, Labor, Chevron Corp, Chevron, Marathon Petroleum, American Petroleum Institute, Thomson Locations: Idemitsu, Ichihara, Tokyo, Japan, Florida, BENGALURU, U.S . Gulf of Mexico, Mexico, Gulf of Mexico, Garyville , Louisiana, United States, Bengaluru, London, Singapore, Houston

☆ He’s Worked a Lot of Odd Jobs, and Has the Poems to Prove It
▼ + stars: | 2023-08-29 | by ( Jeff Gordinier | ) www.nytimes.com time to read: +4 min

You can pick up the echo in “Fixer," the haunting second collection of poems from Edgar Kunz. The narrator of these poems bounces from one side hustle to another, each more absurd than the last. In “Model,” he’s paid to pose in jeans at a gas station. In “Shoulder Season,” he’s paid to slice window panes out of massive sheets of glass. I am notany of those things, but I amnot comfortedNo one will accuse Edgar Kunz of being out of step with the zeitgeist.

Persons: Edgar Kunz, Herman Melville, noncompliant scrivener, ”, Charles Bukowski’s, Edgar Kunz ., ” he’s, Kunz, —, you’re, WillRobotsTakeMyJob.Com, Edgar Kunz of, Raymond Carver, Kunz doesn’t flinch, “ Organizations: “ Locations: American

☆ Rep. Ayanna Pressley says GOP presidential candidate Vivek Ramaswamy isn't 'occupying any real estate in my mind' after he compared her to 'modern grand wizards' of the KKK
▼ + stars: | 2023-08-28 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Ayanna Pressley on Sunday hit back at Vivek Ramaswamy after he compared her to a KKK grand wizard. In making his comments last week, Ramaswamy argued that Pressley and Kendi didn't embrace diversity of opinion among members of minority groups. Al Sharpton, Pressley firmly rejected Ramaswamy's remarks, calling his words "dangerous." … We don't need any more brown faces that don't want to be a brown voice," Pressley said during the event. "We don't need any more Black faces that don't want to be a Black voice."

Persons: Ayanna Pressley, Vivek Ramaswamy, Ramaswamy, Ibram, Ramaswamy —, United States —, Pressley, Kendi, Al Sharpton, Ramaswamy's, Sharpton, brutalized, Ali Velshi Organizations: Service, Republican, Democratic Rep, Ayanna Pressley of Massachusetts, Capitol, Boston City Council, Representatives, Ku Klux, MSNBC Locations: Iowa, Wall, Silicon, Ayanna Pressley of, India, United States, Charlottesville, Virginia

☆ The Air Force wants $5.8 billion to build nearly 2,000 AI-powered Valkyrie aircraft as part of its 'next generation of air dominance' initiative
▼ + stars: | 2023-08-28 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

The Air Force has requested $5.8 billion in its budget to create AI-driven XQ-58A Valkyrie aircraft. The autonomous crafts are ideal for completing suicide missions and protecting pilots, the Air Force says. Human rights advocates say letting technology take lives crosses a moral boundary. The Times reported each Valkyrie will cost between $3 million and $25 million — far less than a manned pilot jet. Air Force and Department of Defense representatives did not immediately respond to Insider's request for comment.

Persons: —, Mary Wareham, António Guterres Organizations: Air Force, Service, Force, New York Times, Times, The Times, Department of Defense, Human Rights Watch, Life Institute, United Nations Locations: Wall, Silicon, of Mexico

☆ Morning Bid: Beijing tries new ways to lift moribund markets
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Wayne ColeChinese blue chips were enjoying a rare rally on Monday after Beijing rolled out more measures to support the market. If sustained that would be the second-biggest daily gain this year, which just goes to show how moribund the market has been. Reuters GraphicsElsewhere, Wall Street stock futures are a shade firmer with the market seemingly relieved that Fed Chair Powell wasn't out-and-out hawkish. So the onus is on the data to show a cool-down, or risk another rate hike. A result like that would see markets again scale back the risk of another Fed hike and offer a much-needed lift to Treasuries, where two-year yields are threatening the year's top - and a major chart bulwark - at 5.12%.

Persons: Wayne Cole, China Evergrande, Gina Raimondo, Powell wasn't, Martin Floden, Fed's Michael Barr, Edmund Klamann Organizations: China, HK, . Commerce, Wall Street, Fed, Atlanta Fed, PMI, payrolls, JPMorgan, Thomson Locations: Wayne, Beijing, Atlanta, Hollywood

☆ Trump's mug shot caps off a messy week for American politics
▼ + stars: | 2023-08-26 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

The atmospherics are distractingFormer President Donald Trump’s stone-faced mug shot and the televised motorcade of his trip to court painted his arrest Thursday at the Fulton County jail in Atlanta with a reality TV theatricality. Trump’s control of the party he remade around himself continues to hold. But ultimately, just as he was forced to submit to a mug shot, Trump will have to submit to the fact that juries of his peers, American citizens, will decide these trials of the century. It’s far from a mainstream view, and Trump’s multiple arrests have so far yielded little in the way of mass protest. He could win acquittal in any or all four of the trials in which he’s a defendant.

Persons: Donald Trump’s, Trump, Joe Biden, Vivek Ramaswamy, Nikki Haley, John King, Read, Jack Smith’s, Fani Willis ’, Biden, Vladimir Putin, what’s, Sarah Palin Organizations: CNN, Trump, Republican, GOP, South Carolina Gov, Fulton, Alaska Gov, won’t, Biden Locations: Fulton, Atlanta, Iowa, East Coast, Manhattan, Florida, Fulton County, Georgia, Washington ,, Russia, Alaska

☆ Bhutan cuts daily tourist fee by half to lure more visitors
▼ + stars: | 2023-08-26 | by ( Gopal Sharma | ) www.reuters.com time to read: +2 min

"This is in view of the important role of the tourism sector in generating employment, earning foreign exchange ... and in boosting overall economic growth," it said. Isolated for generations, Bhutan opened to tourists in 1974 when it received 300 visitors. The tourist fee has limited arrivals to bigger spenders who make up a fraction of the numbers that visit nearby Nepal. Nevertheless, Bhutan hopes to raise the contribution of tourism to its $3 billion economy 20%, from about 5%. In June, the government eased rules on length of stay and fees for tourists but numbers have not picked up as expected.

Persons: Dorji Dhradhul, Dhradhul, Gopal Sharma, Robert Birsel Organizations: Department of Tourism, Thomson Locations: KATHMANDU, Bhutan, COVID, Nepal

Hawaiian Electric CEO Shelee Kimura received a cash bonus in 2022 based on her performance against 10 measures including profit and customer satisfaction. Wildfire risk mitigation was not on the list, according to the utility’s pay disclosures. Wildfire risk had been a concern for several years before the blaze ripped through Lahaina, a historic resort town in Maui. Idacorp declined to comment on its pay practices and how they relate to wildfire mitigation. “You don’t want a wildfire disaster to be the catalyst for a change in public policy,” said Glazer, who supports linking executive pay to wildfire mitigation.

Persons: Mike Blake, ”, Alison Silverstein, Shelee Kimura, Kimura, “, Michael Cerasoli, Michael Underhill, Brian Buckham, ” Buckham, Idacorp, Larry Glazer, Glazer, Tim McLaughlin, Tom Hals, Peter Henderson, Noeleen Walder, Rich Valdmanis, Marguerita Choy Organizations: Workers, REUTERS, Hawaiian Electric, U.S . Federal Energy Regulatory, Electric, Hawaii Wildfire Management Organization, San Diego Gas &, Global Renewable Energy Income Fund, Reuters, Capital Innovations, SEC, Portland General Electric Co, Boston’s Mayflower Advisors, Thomson Locations: Lahaina, Maui, Hawaii, U.S, California, Honolulu, Maui ., Idaho , Oregon, Washington, Idaho

Brent crude rose 15 cents, or 0.2%, to $83.36 a barrel, while U.S. West Texas Intermediate crude rose 16 cents, or 0.2%, to $79.05 a barrel. Prices traded lower for the majority of the session, before pushing higher in the last half hour of trading. Investor caution on the eve of his remarks lifted the safe-haven dollar, which makes oil more expensive for holders of other currencies, denting demand. Euro zone business activity also declined more than expected and Britain's economy looked set to shrink in the current quarter. On the supply side, Iran's crude oil output will reach 3.4 million barrels per day (bpd) by the end of September, the country's oil minister was quoted as saying by state media, even though U.S. sanctions remain in place.

Persons: Brent, Giovanni Staunovo, Jackson, Jerome Powell, Craig Erlam, Erlam, Shariq Khan, Ahmad Ghaddar, Mohi Narayan, Kim Coghill, David Evans, David Gregorio, Deepa Babington Organizations: cnsphoto, REUTERS, bbl, U.S, Fed, West Texas, UBS, U.S . Federal, Federal Reserve, Thomson Locations: Zhoushan, Zhejiang province, China, BENGALURU, Europe, New York, Amsterdam, Rotterdam, Antwerp, U.S ., Japan, Venezuela, American

Brent crude fell 16 cents, or 0.2%, to $83.05 a barrel by 11:41 a.m. EDT (1541 GMT). U.S. West Texas Intermediate crude fell 12 cents, or 0.2%, to $78.77 a barrel. "Disappointing data and nerves that the Federal Reserve could reinforce a hawkish stance are weighing on oil," said Fiona Cincotta, analyst at City Index. On the supply side, Iran's crude oil output will reach 3.4 million barrels per day (bpd) by the end of September, the country's oil minister was quoted as saying by state media, even though U.S. sanctions remain in place. U.S. crude inventories (USOILC=ECI) fell by 6.1 million barrels in the week to Aug. 18 to 433.5 million barrels, compared with analysts' expectations in a Reuters poll for a 2.8 million-barrel drop.

Persons: Jerome Powell, Brent, Fiona Cincotta, Jackson, Powell, Shariq Khan, Ahmad Ghaddar, Mohi Narayan, Kim Coghill, David Evans, David Gregorio Our Organizations: cnsphoto, REUTERS, Fed, U.S . Federal, . West Texas, Federal, Wednesday Japan, Federal Reserve, Organization of, Petroleum, Thomson Locations: Zhoushan, Zhejiang province, China, BENGALURU, U.S, American, Saudi Arabia

☆ Live updates: Trump to surrender to Fulton County authorities in Georgia 2020 election case
▼ + stars: | 2023-08-24 | by ( Leinz Vales | Aditi Sangal | ) edition.cnn.com time to read: +3 min

The argument, filed as a third-party brief in proceedings where Clark and Meadows seek to move the Georgia state charges to federal court, musters support for keeping the entire case in state court. A judge is set to consider arguments from Meadows and potentially Clark on Monday on moving the case, after both have asked to do so. "The conduct charged here by the Fulton County District Attorney— interference by Mark Meadows and Jeffrey Clark with the 2020 presidential election in Georgia in order to aid Donald Trump’s candidacy—bore no connection to any duty of Mr. Meadows’s, Mr. Clark’s, or Mr. Trump’s office. "Removal would be perverse, as this prosecution arises from interference with state-government operations and seeks to vindicate Georgia’s voice in a federal election, the very contest from which federal authority flows." Trump could ask for similar protection as president but has not formally asked the court to consider moving his case at this time.

Persons: Mark Meadows, Jeffrey Clark, Trump, Clark, Meadows, Donald Trump’s, —, Meadows’s, Clark’s, Georgia’s, Michael Luttig, New Jersey William Weld, John Farmer Jr, Stuart Gerson, Reagan, George H.W Organizations: Getty, Trump, Department, Attorney, Republican Locations: Fulton County , Georgia, Georgia, Meadows, Atlanta, Fulton County, Massachusetts, New Jersey

☆ T-Mobile to lay off 5,000 workers
▼ + stars: | 2023-08-24 | by ( Clare Duffy | ) edition.cnn.com time to read: +2 min

New York CNN —T-Mobile on Thursday announced it plans to lay off 5,000 employees, or around 7% of its total staff, over the next five weeks. The company also plans to reduce its spending on “external workers and resources,” but its retail and “consumer care” staff who work directly with customers will not be affected, he said. T-Mobile’s stock has fallen more than 7% since last August. Affected employees will receive “competitive severance packages” based on tenure, as well as accelerated stock vesting, access to career transition services and other benefits, Sievert told employees. He added that the company is not planning additional, widespread employee reductions in the foreseeable future.

Persons: New York CNN —, Mike Sievert, ” Sievert, Sievert, ”, “ Organizations: New, New York CNN, Mobile, Microsoft, Meta, Sprint Locations: New York

☆ Sun-observing spacecraft sheds light on the solar wind's origin
▼ + stars: | 2023-08-24 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

The sun as seen by the Solar Orbiter spacecraft in extreme ultraviolet light in this mosaic of 25 individual images taken on March 7, 2023, by the high resolution telescope of the Extreme Ultraviolet Imager (EUI) instrument. New observations by the Solar Orbiter spacecraft may provide an answer. "Unlike the wind on Earth that circulates the globe, solar wind is ejected outward into interplanetary space," Chitta said. "Earth and the other planets in the solar system whiz through the solar wind as they orbit around the sun. "This finding is important as it sheds more light on the physical mechanism of the solar wind generation," said solar physicist and study co-author Andrei Zhukov of the Royal Observatory of Belgium.

Persons: Lakshmi Pradeep Chitta, Max Planck, Chitta, Andrei Zhukov, Eugene Parker, Zhukov, Will Dunham, Rosalba O'Brien Organizations: Solar Orbiter, Solar, Max Planck Institute, Solar System Research, European Space Agency, NASA, Orbiter, Royal Observatory of, Thomson Locations: WASHINGTON, Germany, U.S, Royal Observatory of Belgium, American

☆ Russian Putin critics like Prigozhin who met an early death
▼ + stars: | 2023-08-24 | by ( Lauren Said-Moorhouse | ) edition.cnn.com time to read: +14 min

No evidence has been presented that points to the involvement of the Kremlin or Russian security services in the crash. Nemtsov’s death came two days before he was set to lead an opposition rally in the Russian capital. Alexander PerepilichnyyOver the years, suggestions have emerged of the possible use of a rare plant poison in the death of Russian financier Alexander Perepilichnyy. ANDREY SMIRNOV/AFP/AFP/Getty ImagesRussian lawyer Sergei Magnitsky died in a Russian prison in 2009. The most prominent voice of dissent in Putin’s Russia, the lawyer, politician and corruption activist for years orchestrated massive street protests.

Persons: Yevgeny Prigozhin’s, Wagner, –, Bill Browder, “ Putin, Boris Nemtsov, Boris Yeltsin, Ilya Yashin, Nemtsov, Vladimir Putin, ”, Nemtsov’s, Boris Berezovsky Boris Berezovsky, Warrick Page, Boris Berezovsky, Putin, Berezovsky, Alexander Perepilichnyy, Perepilichnyy, Sergei Magnitsky, ANDREY SMIRNOV, Magnitsky, Browder, Alexander Litvinenko Alexander Litvinenko, Alexander Litvinenko, Litvinenko –, Robert Owen, Putin “, Litvinenko, Marina Litvinenko, Anna Politkovskaya, JENS SCHLUETER, Lom, Ali Gaitukayev, Politkovskaya, Chechen Republic …, ” Drownings, Prigozhin, Gennady Lopyrev –, “, Lopyrev, Pyotr Kucherenko, Pavel Antov, Vladimir Budanov, Budanov, Alexander Buzakov, Anatoly Gerashchenko, Ravil Maganov, Lukoil, Maganov “, Alexey Navalny, Navalny, Mikhail Khodorkovsky, Sergei Skripal, Skripal, Yulia Organizations: CNN, Kremlin, Getty, Republican Party of Russia, Party, Newsweek, of Justice, Royal Botanic, AFP, Getty Images, Hermitage Capital, KGB, Authorities, The, Protect Journalists, RIA Novosti, Russia’s, Science, Higher Education, Gazprom, Lukoil, Reuters, Moscow Aviation Institute, TASS, Putin’s United, “ Locations: Russia, Boris Nemtsov Russian, AFP, Moscow, Ukraine, Russian, London's, Europe, England, Soviet Union, Britain, Surrey, London, Kew, American, Chechnya, Leipzig, Germany, The New York, Chechen Republic, Washington, Gelendzhik, ”, Cuba, India, Putin’s Russia, Putin’s United Russia, United States

☆ Japan's price trend gauges hit record, signal broadening inflation
▼ + stars: | 2023-08-23 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

A man walks at the headquarters of Bank of Japan in Tokyo, Japan, January 18, 2023. Based on the government's consumer price data, the Bank of Japan (BOJ) releases several measurements of underlying inflation that look at the distribution of price changes. The indices are closely watched by the BOJ for clues on whether price rises are driven by one-off factors like fuel, or broadening enough to sustainably hit its 2% inflation target. The ratio of items that saw prices rise year-on-year hit a record 85.6% in July. Japan's annual core consumer inflation hit 3.1% in July, slowing from 3.3% in June due to sliding utility bills but staying above the BOJ's target for the 16th straight month.

Persons: Issei Kato, Naoya Hasegawa, Kazuo Ueda, Leika, Shri Navaratnam Organizations: Bank of Japan, REUTERS, Rights, Okasan Securities, Reuters, Thomson Locations: Tokyo, Japan

☆ Exclusive: China's Xiaomi wins state planner nod to make EVs amid glut in autos
▼ + stars: | 2023-08-23 | by ( Julie Zhu | ) www.reuters.com time to read: +4 min

A man walks past a logo of Xiaomi, a Chinese manufacturer of consumer electronics, outside a shop in Mumbai, India, May 11, 2022. Xiaomi, which owns the world's third largest smartphone brand by shipments, did not immediately respond to a request for comment. Xiaomi plans to produce about 100,000 EVs next year, said one of the sources. But Xiaomi, which reported an 18.9% drop in its latest quarterly revenue in May, has its own compulsions for foraying into EVs. Xiaomi plans to use the thousands of stores it has as showrooms for its electric cars, Reuters previously reported.

Persons: Francis Mascarenhas, HONG KONG, Xiaomi, Tesla, NDRC, MIIT, Lei Jun, Julie Zhu, Muralikumar Organizations: REUTERS, Xiaomi Corp, HK, National Development, Reform Commission, EV, Ministry of Industry, Reuters, Lucid, Beijing Daily, China Passenger Car Association, Thomson Locations: Mumbai, India, HONG, Beijing, Shanghai, Reuters U.S, China, China ., EVs

☆ The world's worst traffic jam isn't on any road — it's at one of the most important shipping routes where ships are paying upto 3x fare just to get across
▼ + stars: | 2023-08-23 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Over 200 ships are currently stuck in a massive traffic jam in the Panama Canal. The US is the largest user of the Panama Canal, so the bottleneck could hit holiday shipping. AdvertisementAdvertisementThe world's worst traffic jam is at the Panama Canal, where hundreds of massive ships are stuck due to a serious drought that reduced water levels. The traffic jam is so bad that ships have paid multiple times the toll to pass through. AdvertisementAdvertisementThe US is also the largest user of the Panama Canal, accounting for 70% of the waterway's traffic, per Container xChange.

Persons: Lars Oestergaard Nielsen, Maersk's, Insider's Rebecca Cohen Organizations: Morning, Wall, Bloomberg, Clarksons Research Services, Reuters, Panama Canal Authority, Maersk Locations: Panama, Americas, project44, Gulf, East Coast

☆ Opinion: How the words of ‘I Have a Dream’ soared and challenged the nation 60 years ago
▼ + stars: | 2023-08-23 | by ( John | ) edition.cnn.com time to read: +9 min

“It really shocked me,” Jones recalled. “Mahalia Jackson was his favorite gospel singer,” Jones recalled. “He took the written text … and shoved it to the side of the podium,” Jones recalled. Thank God almighty, we are free at last.”As the thunderous applause passed, “Martin looked at me and said, ‘How do you think I did?’ ” Jones recalled. King and Rabbi Abraham Heschel standing in the middle room, they’re both sobbing,” Jones recalled.

Persons: John Avlon, “, Martin Luther King Jr, Franklin D, Roosevelt, Kennedy, Reagan, Clarence B, Jones, King, ”, ” Jones, King “, …, Martin, Lincoln – “, Mahalia Jackson, “ Mahalia Jackson, Dora McDonald, Mahalia, Martin Luther King, Jr, Liz Hafalia, Jackson, hadn’t, he’d, ” King, Georgia ”, “ Martin, Rabbi Joachim Prinz, Abraham Joshua Heschel, “ Dr, Rabbi Abraham Heschel, Clarence, ” Clarence Jones Organizations: CNN, Lions, Washington, Kennedy White House, Willard, Lincoln, Lincoln –, University of San, San Francisco Chronicle, Martin Luther King Jr . Research, Education Institute, Stanford University, Civil Rights Movement, Twitter, Facebook Locations: “ Lincoln, Lincoln, Washington, Independence, University of San Francisco, Detroit, New Hampshire, Georgia, Hitler’s Germany, America, Catskill

☆ Man walked into a Southern California bar and shot his soon-to-be ex-wife and several others, killing 3 and injuring 6, authorities say
▼ + stars: | 2023-08-23 | by ( Jamiel Lynch Taylor Romine Josh Campbell Cheri Mossburg | Jamiel Lynch | Taylor Romine | ) edition.cnn.com time to read: +6 min

After opening fire inside the bar, Snowling retreated to a back parking lot area and began to retrieve two more guns, Barnes said. Established in 1884, Cook’s Corner bills itself as one of the oldest and most famous biker bars in Southern California, hosting regular specials and open mic nights. Cook's Corner bar is seen in an image taken prior to the night of the shooting. “We are Saddened by the news from Cooks Corner,” the band posted on its Facebook page overnight. “Our thoughts, prayers & condolences go out to everyone in the Cooks Corner community.”“We’ve experienced major earthquakes, forest fires, floods, recessions and other disasters,” the Cook’s Corner website reads.

Persons: John Snowling, Don Barnes, Snowling, Barnes, sheriff’s, “, Jeff Hallock, Tonya Clark, Glen Sprowl Jr, John Leehey, Tetsuya Takeuchi, Snowling’s, Takeuchi, isn’t, Etienne Laurent, Shutterstock Snowling, ” Jonathan Div, ” “, Katrina Foley, Gavin Newsom, ” Newsom, ” Barnes, Todd Spitzer, ”, “ We’ve Organizations: CNN, Orange County Sheriff, Twitter, Providence Mission Hospital, Authorities, Ventura Police Department, Sheriff’s Department, Company Locations: Southern California, Orange, Orange County, Scottsdale , Arizona, Stanton , California, Irvine , California, Los Angeles, Providence, Ohio, Camarillo , California, Camarillo, California, America, Clearwater

☆ Drowning Death of Obama Family Chef Is Ruled an Accident
▼ + stars: | 2023-08-22 | by ( Eduardo Medina | More About Eduardo Medina | ) www.nytimes.com time to read: +1 min

The personal chef to the Obama family died of accidental drowning last month in a Martha’s Vineyard lake, the chief medical examiner of Massachusetts has ruled, officials said on Tuesday. The chef, Tafari Campbell, 45, of Dumfries, Va., had been visiting the island in late July and was paddleboarding near the former first family’s summer home when he was seen struggling in the water, the Massachusetts State Police said last month. The chief medical examiner’s office has determined that Mr. Campbell's death on July 23 was an accident, Timothy McGuirk, a spokesman for the state Executive Office of Public Safety and Security, said on Tuesday night. Former President Barack Obama and Michelle Obama were not home at the time of the accident, the state police said. Another paddleboarder was on the pond with him at the time and saw him go underwater, the police said.

Persons: Obama, Tafari Campbell, Campbell's, Timothy McGuirk, Barack Obama, Michelle Obama, paddleboarder Organizations: Massachusetts State Police, of Public Safety Locations: Massachusetts, Dumfries, Va, Edgartown

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