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☆ Explainer: GM-owned Cruise's wrong turn could slow robotaxi push
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +3 min

Robotaxis are autonomous self-driving cabs which require no human interaction to operate the vehicle. When did driverless cabs become a reality? Cruise followed with its first driverless ride service last year in San Francisco, and slowly expanded to include Phoenix, Arizona, and Austin, Texas. The use of driverless cabs also raises the prospect of job losses and could attract pushback from unions. Regulatory hurdles facing robotaxisCommercializing fully autonomous vehicles, especially robotaxis, has been harder than expected with tough regulations, complicated technology and heavy investments forcing some to cut jobs.

Persons: Elijah Nouvelage, Cruise, Here's, Waymo, Nathan Gomes, Devika Organizations: San, GM Bolt, REUTERS, General Motors, Companies, Technologies, Amazon.com, Ford, Volkswagen, Argo, Thomson Locations: San Francisco, San Francisco , California, U.S, United States, Phoenix , Arizona, Austin , Texas, Bengaluru

☆ U.S. Carries Out Another Round of Airstrikes on Iran-Linked Targets
▼ + stars: | 2023-11-12 | by ( Eric Schmitt | More About Eric Schmitt | ) www.nytimes.com time to read: +3 min

The strikes came just four days after American warplanes hit a munitions warehouse in eastern Syria. Pentagon and other Biden administration officials rejected that criticism on Sunday, saying that the American airstrikes have been in self-defense, and in proportion to the attacks by Iran-backed militias. Unlike the two previous sets of strikes, the Pentagon did not make senior officials available after Sunday’s military response to discuss details. Pentagon officials said they were still analyzing the strikes and did not know if anyone on the ground was hurt or killed. The United States has 2,500 troops in Iraq and 900 in Syria, mostly to help local forces fight remnants of the Islamic State.

Persons: Abu Kamal, Biden, Lloyd J, Austin III, ” Dana Stroul Organizations: Islamic Revolutionary Guards Corps, Pentagon, American, Syria . Air Force, U.S, ”, United Locations: States, Syria, Iraq, Abu, Mayadin, Iran, United States, Asia, U.S, Germany, Islamic State, Israel, Lebanon, Yemen, Persian

☆ U.S. military says 5 crew members died when an aircraft crashed over the Mediterranean
▼ + stars: | 2023-11-12 | by ( ) www.cnbc.com time to read: +1 min

US soldiers are seen in front of the United States European Command (EUCOM) on May 3, 2016 at the Patch Barracks in Stuttgart, southern Germany. - A ceremony took place at the barracks as US General Curtis Scaparrotti was introduced as Commander of the US European Command, taking over from US General Philip Breedlove. EUCOM said all five crew members were killed when it went down "during a routine air refueling mission as part of military training." It said on Sunday that "search and rescue efforts began immediately, including nearby U.S. military aircraft and ships." It wasn't immediately clear what military service the aircraft belonged to.

Persons: Curtis Scaparrotti, Philip Breedlove, Marijan Murat, MARIJAN MURAT, servicepeople, EUCOM, Gerald R Organizations: United States European Command, US European Command, US, Getty, U.S . European Command, Command, of Defense, The Air Force, Ford Locations: Stuttgart, Germany, AFP, U.S

☆ Five US Service Members Killed in Aircraft Crash in Mediterranean -Defense Department
▼ + stars: | 2023-11-12 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

WASHINGTON (Reuters) -Five U.S. service members were killed on Friday when their aircraft crashed into the Mediterranean Sea during a refueling training mission, the U.S. Defense Department said on Sunday. Search and rescue operations involving nearby U.S. military aircraft and ships immediately followed the crash and an investigation into its cause is under way, U.S. European Command said in a statement. U.S. European Command, which handles American military operations in Europe and parts of the Middle East, reported the accident on Saturday. "We can definitively say that the aircraft sortie was purely related to training and there are no indications of hostile activity," it said. Identities of the victims will not be released until next of kin notifications are completed, the command said.

Persons: Joe Biden, Katharine Jackson, Andrea Shalal, Scott Malone, Grant McCool, Sandra Maler Organizations: WASHINGTON, U.S, U.S . Defense, U.S . European Command Locations: U.S, Israel, Europe

☆ U.S. Forces Under Fire in Middle East as America Slides Towards Brink
▼ + stars: | 2023-11-09 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +10 min

By Phil Stewart, Idrees Ali and Ahmed RasheedWASHINGTON/BAGHDAD (Reuters) - A defective drone in Iraq may have helped keep America from being dragged deeper into a widening Middle East conflict. The possibility of a major strike that draws America into a conflict is "a very realistic concern," he said. "I think they are calibrating the attacks to harass rather than kill en masse U.S. troops," he said of Iraqi and Syrian militias. Iran says it had no role in Hamas' Oct. 7 raid on Israel, though it has welcomed the attack. "We had rocket attacks, mortar attacks, before we got hit with the big bomb," he said.

Persons: Phil Stewart, Idrees Ali, Ahmed Rasheed WASHINGTON, David Schenker, Joe Biden, Biden, Antony Blinken, Mohammed Shia Al, Sudani, Ali Turki, Arif al, didn't, Saddam Hussein, it's, Blinken, Ayatollah Ali Khamenei, isn't, Biden's, Lloyd Austin, hasn't, Tom Cotton, Austin, Lindsey Graham, Austin demurred, Graham, David Madaras, Ahmed Rasheed, Amina Ismail, Parisa, Michael Georgy, Pravin Char Organizations: U.S, Israel, Pentagon, Washington Institute for Near, Sunday, Haq, IRAN Iraq's, U.S . Navy, Wednesday, U.S . Defense, Democrat, Senate Armed Services Committee, Republican, United Locations: BAGHDAD, Iraq, America, Erbil, Iranian, Syria, Gaza, U.S, Iran, Syrian, Israel, Sudani's, Baghdad, IRAQ, IRAN, Tehran, Iraqi, Lebanon, Russian, Washington, TEHRAN, Yemen, Ukraine, China, pullout, Afghanistan, Ohio, Beirut, United States

[1/2] A view shows smoke in the Gaza Strip as seen from Israel's border with the Gaza Strip, in southern Israel October 18, 2023. REUTERS/Amir Cohen/File Photo Acquire Licensing RightsWASHINGTON/BAGHDAD, Nov 9 (Reuters) - A defective drone in Iraq may have helped keep America from being dragged deeper into a widening Middle East conflict. The possibility of a major strike that draws America into a conflict is "a very realistic concern," he said. "I think they are calibrating the attacks to harass rather than kill en masse U.S. troops," he said of Iraqi and Syrian militias. "We had rocket attacks, mortar attacks, before we got hit with the big bomb," he said.

Persons: Amir Cohen, David Schenker, Joe Biden, Biden, Antony Blinken, Mohammed Shia Al, Sudani, Ali Turki, Arif al, didn't, Saddam Hussein, it's, Blinken, Ayatollah Ali Khamenei, isn't, Biden's, Lloyd Austin, hasn't, Tom Cotton, Austin, Lindsey Graham, Austin demurred, Graham, David Madaras, Phil Stewart, Idrees Ali, Ahmed Rasheed, Amina Ismail, Parisa, Michael Georgy, Pravin Organizations: REUTERS, U.S, Israel, Pentagon, Washington Institute for Near, Sunday, Haq, IRAN Iraq's, U.S . Navy, Wednesday, U.S . Defense, Democrat, Senate Armed Services Committee, Republican, United, Thomson Locations: Gaza, Israel, WASHINGTON, BAGHDAD, Iraq, America, Erbil, Iranian, Syria, U.S, Iran, Syrian, Sudani's, Baghdad, IRAQ, IRAN, Tehran, Iraqi, Lebanon, Russian, Washington, TEHRAN, Yemen, Ukraine, China, pullout, Afghanistan, Ohio, Beirut, United States

Iran-backed militias have packed even larger loads of explosives — more than 80 pounds — onto drones launched at American bases, U.S. officials said. “The president has no higher priority than the safety of U.S. personnel, and he directed today’s action to make clear that the United States will defend itself, its personnel, and its interests.”“The United States is fully prepared to take further necessary measures to protect our people and our facilities,” he added. The United States has 2,500 troops in Iraq and 900 in Syria, mostly to help local forces fight remnants of the Islamic State. The Biden administration also uses a “deconfliction” line with Russia to try to manage escalation in Iraq and Syria, two officials said. Russia has troops in Syria, and American officials say they expect that telling Russia before a strike in Syria is the same as telling Iran, as Russian officials often inform Tehran of what is coming.

Persons: ratcheting, Biden, Lloyd J, Austin III, ”, Antony J, Blinken, Ayatollah Ali Khamenei, Mr, Khamenei, ” Christine S Organizations: Islamic Revolutionary Guards Corps, American, Air Force, Pentagon, U.S, Quds Force, ”, Palestinian, Biden, Sunday, United, Military, Pentagon’s Central Command, National Counterterrorism Center Locations: United States, Syria, Iraq, U.S, Iran, I.R.G.C, Yemen, Israel, Islamic State, Russia, Tehran, Lebanon, Persian, Gaza, Tehran , U.S

☆ $100,000 monthly student-loan bills, late statements, and erroneous banking fees: here's everything that's gone wrong for borrowers with the return to repayment
▼ + stars: | 2023-11-05 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

And Jess expected to pay around $137 a month in October, but she was billed a $49,000 monthly payment. AdvertisementAdvertisementIncorrect monthly billsWhen servicers attempted to convert borrowers to the new SAVE income-driven repayment plan, 78,000 borrowers got inaccurate bills. Additionally, 21,000 borrowers received monthly statements with "very high and potentially incorrect amounts due," per the memo. Hundreds of borrowers received bills stating they owed over $10,000 a month, with a few borrowers having monthly bills of over $100,000. According to the memo, borrowers are spending an average of 58 minutes on hold with their servicer, call lengths are about 70% longer than 2019 because borrowers have more questions.

Persons: —, Alicia, Xiong Chang, Jess, Joe Biden's, servicers, It's, MOHELA, forbearance Servicers Organizations: Federal, Aid, Service, Joe Biden's Education Department, Public, Department, Education Department, Federal Student Aid Locations: forbearance

☆ Morning Bid: Stocks clocking best week of the year
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The U.S. October employment report out later on Friday caps a hectic two weeks of central bank decisions, company updates and unnerving geopolitics. As the first major marker of U.S. economic strength in the final quarter of the year, the payrolls report packs a punch despite expected strike-related distortions. The interest rate relief this week is pervasive, however, as the Fed, ECB and BoE all paused tightening and U.S. Treasury debt sales worries ebbed somewhat. U.S. Treasury (.MOVE) and equity market (.BIX) volatility gauges have subsided to their lowest levels since early last month.

Persons: Brendan McDermid, Mike Dolan, BoE, ebbed, Antony Blinken, Sam Bankman, Fried, Michael Barr, Neel Kashkari, Huw Pill, Emelia Sithole Organizations: New York Stock Exchange, REUTERS, Mike, U.S, Federal Reserve, European Central Bank and Bank of England, Apple, Fed, ECB, Treasury, U.S . Treasury, Labor Department, Eversource Energy, Cardinal Health, Dominion Energy, Gartner, Church, Dwight, AMC, Liberty Media, Icahn Enterprises, Federal, Bank of England, Israel Productivity, Reuters Graphics Reuters, Reuters, Thomson Locations: New York City, U.S, Isreal, Gaza, Gaza City, Canada, Minneapolis, Israel

The Jabalia refugee camp is highlighted and the site of an airstrike within the camp shown. People and medics rush to the scene of an Israeli attack that hit the Jabalia refugee camp in north Gaza on Wednesday, Nov. 1. People and medics rushed to the scene of an Israeli attack that hit the Jabalia refugee camp in north Gaza on Wednesday, Nov. 1. The second airstrike hit on Wednesday Nov. 1 in the Falouja neighbourhood of Jabalia refugee camp, approximately half a mile from the site of Tuesday’s explosion. A third Israeli airstrike hit the Jabalia refugee camp on November 2, Reuters reported.

Persons: Benjamin Netanyahu’s, Volker Turk, ” Turk, ”, OpenStreetMap, Al Bureij, Khan Younis, Bureij, Jabalia, Nizar Rayan, Abdel Kareem Rayan, “, Justin Bronk, ” Bronk, Al Mouhawel, Ibrahim Biari, Daniel Hagari, Biari, situating, ” Hagari, Hagari, Hazem Qassem, Muhammad A’sar, Abu Hussein, Antony Blinken, Blinken, Netanyahu Organizations: Islamic, Human, Space Agency Sentinel, United Nations Office, Humanitarian Affairs, Masae Analytics, United Nations, Reuters, Palestine Refugees, UNRWA, United Nations Relief, Works Agency for Palestinian Refugees, Hamas, Palestinian, Technology, Royal United Services Institute, Israeli Air, Attack Munitions, Pentagon, Maxar, Jabalia Battalion, Interior Ministry, European Union Locations: Gaza, Israel, Palestinian, Gaza ., Beach, Al, Jabalia, Rafah, Palestine, Israeli, London, JDAMs, Iraq, Afghanistan, Al Almey, Falouja, United States

As Israel’s assault on Gaza unfolds, global pressure is mounting for a pause in the fighting, including Monday at the United Nations. Instead, they describe occasionally difficult behind-the-scenes conversations about the importance of humanitarian aid and protecting civilian lives. “We have conversations, like friends do, on the hard questions … on issues associated with humanitarian aid,” US national security adviser Jake Sullivan said Sunday on CBS. Saudi Arabia has cautioned against a broad-scale Israeli invasion of Gaza, in part due to the potential of a spiraling regional war. The blackout – which left civilians, aid groups and journalists without any means of communicating with the outside world – came amid heavy Israeli bombardment of the enclave.

Persons: Washington CNN —, Joe Biden’s, Benjamin Netanyahu, “, Jake Sullivan, Sullivan, Khalid bin Salman, Israel, United States Michael Herzog, ” Herzog, CNN’s Wolf Blitzer, Herzog, John Kirby, CNN’s Poppy Harlow, Harlow, Kirby, ”, Ibraheem Abu Mustafa, –, ” Sullivan, Biden, ” Kirby, Vladimir Putin Organizations: Washington CNN, CNN, United Nations, Israel, CBS, Saudi Arabia’s Defense, White, National Security, Reuters CNN, US, Service, MSNBC, Hamas Locations: Israel, Gaza, ”, United States, Iran, Washington, Saudi Arabia, Egypt, Rafah, Ukraine

The second largest contributor to real gross domestic product growth in the third quarter came from business inventories (1.3 percentage points). South Korea's KOSPI-100 equity index, which is usually a good proxy for global trade given its heavy weighting towards export-oriented firms, rebounded strongly through the end of July. But the index has since weakened, consistent with the renewed downturn in volumes shown in the global trade index. UNCERTAINTYUncertainty about the economic outlook and ambiguous data are usually greatest around turning points in the business cycle. Related columns:- Persistent U.S. services inflation dampens oil outlook (October 13, 2023)- U.S. manufacturing rebound will stretch diesel supplies (October 5, 2023)- Global container freight stuck in doldrums (June 23, 2023)- Global freight shows signs of bottoming out (April 27, 2023)John Kemp is a Reuters market analyst.

Persons: Stringer, Korea's, John Kemp, David Evans Organizations: REUTERS, Global, Economic, Service, Real, Ministry of Transport, Treasury, Thomson, Reuters Locations: Qingdao, Shandong province, China, United States, Netherlands, CHINA, ASIA, Singapore, Asia, Europe, Japan, Narita, EUROPE Europe, Ukraine, Germany, doldrums

☆ Hurricane Otis’ impact around Acapulco, Mexico remains unclear amid widespread communications outages
▼ + stars: | 2023-10-26 | by ( Elizabeth Wolfe | ) edition.cnn.com time to read: +4 min

The outages have significantly limited authorities’ ability to survey or share the magnitude of Otis’ impact. Otis rapidly intensified from a tropical storm to an extremely dangerous Category 5 hurricane – the area’s strongest storm on record – in just 12 hours. Residents survey damage in the aftermath of Hurricane Otis in Xaltianguis, Guerrero state, Mexico. The storm’s heavy rains are forecast to continue impacting the region through Thursday, possibly triggering flash flooding and mudslides, the National Hurricane Center said. Residents survey damage in the aftermath of Hurricane Otis in Xaltianguis, Guerrero state, Mexico.

Persons: Hurricane Otis ’, Otis, Andrés Manuel López Obrador, Laura Velázquez, Hurricane Otis, Alejandro Cegarra, El, CNN’s Karol Suarez, CNN’s Taylor Ward, Mary Gilbert, Ana Melgar, Claudia Rebaza, Rachel Ramirez Organizations: CNN, CFE, Service, ”, Bloomberg, Getty, National Hurricane Center, Mexican National Guard personnel, Infrastructure, Communications, Transportation, Otis, National Oceanic, Atmospheric Administration Locations: Hurricane, Acapulco, Mexico’s Guerrero, Xaltianguis, Guerrero, Mexico, Mexico City

☆ U.S. Strikes Iranian-Linked Targets in Syria
▼ + stars: | 2023-10-26 | by ( Eric Schmitt | More About Eric Schmitt | ) www.nytimes.com time to read: +5 min

The targets represent a significant escalation in striking facilities used by Iran’s own forces in the region, not just the militias in Iraq and Syria that it helps arm and train. “These narrowly tailored strikes in self-defense were intended solely to protect and defend U.S. personnel in Iraq and Syria,” Mr. Austin said. Since Oct. 17, Iran-backed militia have carried out at least 12 rocket or one-way attack drone strikes against U.S. troops in Iraq and at least four attacks in Syria, Brig. There are 2,500 troops in Iraq and 900 in Syria, mainly helping local allies conduct counterterrorism missions against the Islamic State. “I believe there is concern that our bases in Syria and Iraq, especially Syria, could be attacked by a wave of drones and it could overwhelm the defenses currently there,” Mick Mulroy, a former defense official and retired C.I.A.

Persons: Biden, Lloyd J, Austin III, Mr, Austin, ” Mr, “, Patrick S, Ryder, ” Mick Mulroy, General Ryder, Al Asad, we’ve, ” Organizations: Islamic Revolutionary Guards Corps, American, U.S, ”, Hamas, U.S ., Pentagon, Iran, The Defense Department, Al Asad, Al Asad Air Base, Islamic Locations: States, Syria, Iraq, Iran, East, U.S, Iranian, United States, Israel, Lebanon, Persian, Erbil, Al Asad Air, Brig, Islamic State

☆ Jake Sullivan’s ‘Quieter’ Middle East Comments Did Not Age Well
▼ + stars: | 2023-10-26 | by ( Katie Rogers | More About Katie Rogers | ) www.nytimes.com time to read: +6 min

In a 7,000-word essay for Foreign Affairs magazine published this week, Jake Sullivan, President Biden’s national security adviser, tried to sum up the state of the Middle East. Before the article was posted online, Foreign Affairs asked Mr. Sullivan to update it to reflect the Hamas attack. The online version scrubbed Mr. Sullivan’s “quieter” sentence, as well as his assertion that the Biden administration had “de-escalated” crises in Gaza. A fund-raising email sent to supporters by the Trump campaign on Wednesday chastised “Biden’s Delusional National Security Adviser” with a link to a story about Mr. Sullivan’s comments. Not all of Mr. Sullivan’s critics are on the right.

Persons: Jake Sullivan, ”, “, Mr, Sullivan, Biden, ” Mr, Trump, “ Biden’s, Sullivan’s, Brett Bruen, Obama, he’s, Bruen, Hillary Clinton, Jake doesn’t disabuse, Adrienne Watson, Ron Dermer, Ms, Watson, ” Edward Wong Organizations: Foreign Affairs, “, ”, Hamas, Gaza, Foreign, The, National Security Council, West Bank, Soviet, Cuban Locations: Gaza, Israel, United States, Yemen, Iran, Afghanistan, U.S, Saudi Arabia, Kuwait

☆ Apple subscriptions just got more expensive. Here's how to save money
▼ + stars: | 2023-10-25 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +1 min

Apple raised the price of Apple TV+, Apple One and a number of its other subscription services Wednesday. The monthly price for Apple TV+ jumped from $6.99 to $9.99, and Apple One Premier, the top version of the company's bundle package, increased from $32.95 to $37.95. Here's how to cancel or downgrade your Apple subscriptions if you don't want to pay the price hike:Go to your Settings. Press "Subscriptions." For Apple TV+, press the bar with its name and then click "Cancel Subscription."

Persons: Apple, Kif Leswing Organizations: Apple, Apple TV, Apple One, Services, . Press

[1/3] A U.S army soldier stands with his weapon at a military base in the Makhmour area near Mosul during an operation to attack Islamic State militants in Mosul, Iraq, October 18, 2016. A U.S. military official, speaking on condition of anonymity, did not specifically say what might trigger the evacuation of U.S. military families, who are deployed to Middle East locations including Bahrain, home to the U.S. Navy's Fifth Fleet. Senior Biden administration officials including Defense Secretary Lloyd Austin have warned of the risk of major escalation in attacks on American troops in the Middle East and that Iran could seek to widen the Israel-Hamas war. Austin has ordered new air defenses to the Middle East to safeguard troops, including a Terminal High Altitude Area Defense (THAAD) system. Iranian security officials told Reuters Iran's strategy was for Middle East proxies like Hezbollah to pursue limited strikes on Israeli and U.S. targets but to avoid a major escalation that would draw in Tehran.

Persons: Alaa, Michael, Erik, Kurilla, Asad, Lloyd Austin, Austin, John Kirby, Kirby, Phil Stewart, Chizu Organizations: Islamic, REUTERS, Rights, U.S, Reuters, U.S . Army, U.S . Central Command, American, Navy's, Senior Biden, Defense, Pentagon, Area Defense, United, Thomson Locations: U.S, Makhmour, Mosul, Iraq, Iran, Syria, Israel, Gaza, Yemen, Iranian, Middle East, Bahrain, United States, Tehran

☆ Student-loan borrowers are being stripped of debt relief and cheaper monthly payments because of poor customer service, a federal watchdog says
▼ + stars: | 2023-10-23 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

A CFPB report analyzed over 9,000 complaints it received from student-loan borrowers in the past year. It found that poor customer service at servicers have kept borrowers without relief they deserve. In that time period, 9,284 consumers submitted student-loan complaints — 6,934 of which were related to federal loans and 2,350 of which were related to private loans. Over the summer, Biden rolled out a new income-driven repayment plan, known as the SAVE plan, intended to lower many borrowers' monthly payments. For example, one borrower complaint to the CFPB stated: "I cannot get ahold of my loan servicer.

Persons: —, Robert Cameron, Cameron, Biden, Servicer MOHLEA, servicers Organizations: Service, Consumer Financial, Bureau, Loan Ombudsman, Consumers, Education Department, Public, An Education Department Locations: servicers

Olivier Douliery | Afp | Getty ImagesAmberlee McGaughey, a librarian in Pennsylvania, was not worried about the restart of student loan payments. In August, she applied for the Public Service Loan Forgiveness program with her loan servicer, MOHELA, or the Missouri Higher Education Loan Authority. Around 7% of student loan borrowers are now more than $100,000 in debt. "The government has made all these announcements, and it's really confusing to people," said Scott Buchanan, executive director of the Student Loan Servicing Alliance, a trade group for federal student loan servicers. Her original student loan bill of $483, which was listed as due on Oct. 20, wasn't affordable for her.

Persons: Miguel Cardona, Kamala Harris, Olivier Douliery, she's, MOHELA, couldn't, Ella Azoulay, Carolina Rodriguez, Rodriguez, Scott Buchanan, Joe Biden, he'd, didn't, Biden, servicers, Braxton Brewington, Sarah Cluff, Sarah Cluff Still, servicer, Cluff, Sen, Elizabeth Warren, Nelnet, Joe Popevis, NelNet, Popevis, Servicers, Brewington, Amberlee, Jane Fox, Fox, Buchanan, Rocky, they'll Organizations: Washington , D.C, Afp, Getty, Public, Missouri Higher Education Loan Authority, CNBC, Finance, Biden, Student, Protection, Carolina, Education, Consumer, Student Loan, Alliance, U.S . Department of Education, Valuable Education, Education Department, MOHELA, SAVE, Legal, Association of Legal Locations: Washington ,, Pennsylvania, Missouri, U.S, New York, servicers

☆ No U.S. Troops in Ukraine, but Some in Israel
▼ + stars: | 2023-10-20 | by ( ) www.wsj.com time to read: 1 min

President Biden emphasized in his White House address that he doesn't want U.S. troops on the ground in Ukraine fighting Russia. But he made no such commitment regarding Israeli soil, in a speech that otherwise linked Ukraine and the Israel-Hamas fight. The U.S. has close defense ties with Israel, and the U.S. military has consulted extensively with the Israel Defense Forces since the Oct. 7 attacks. U.S. military personnel have arrived to bolster the U.S. Embassy staff, but the Pentagon has said none will have any combat role. In addition, thousands of U.S. service members are aboard warships in the eastern Mediterranean, with a second aircraft carrier group on the way.

Persons: Biden Organizations: U.S ., Israel Defense Forces, U.S . Embassy staff, Pentagon Locations: U.S, Ukraine, Russia, Israel

The incidents underscored the risks that the conflict between Israel and the Palestinian group Hamas could spiral into a wider war. Israel has responded to the Hamas attacks with airstrikes and a “complete siege” of Gaza, which the group controls. About 200 American troops are stationed at Al Tanf, whose main role is training Syrian militias to fight the Islamic State. There were unconfirmed reports on social media of additional drone attacks in Syria late Thursday. “Clearly, this is an uptick in terms of the types of drone activity we’ve seen in Iraq and Syria,” General Ryder said.

Persons: “, ”, Patrick Ryder, General Ryder, Biden, Gholamhossein Gheybparvar, Ayatollah Ali Khamenei, ” General Ryder, Al Tanf, Al Asad Organizations: U.S . Navy, Navy, Pentagon, Palestinian, Military, Senior Biden, American, Hamas, Islamic Revolutionary Guards Corps, Iran’s, Guards, Al, ”, Al Asad, Al Asad Air Base, military’s, Command Locations: U.S, Yemen, Israel, ” Brig, Iranian, Iraq, Syria, Iran, Gaza, United States, Lebanon, Houthis, Syrian, Al, State, Al Asad Air

STOCKHOLM (AP) — Sweden on Tuesday reported partial damage to an undersea telecommunications cable in the Baltic Sea running to Estonia that authorities believe occurred at the same time as damage to an undersea gas pipeline and telecom cable from Finland to Estonia. Finland launched an investigation into possible sabotage after reporting the damage to its gas pipeline to Estonia last week. Finnish and Estonian gas system operators on Oct. 8 said they noted an unusual drop in pressure in the Balticconnector pipeline after which they shut down the gas flow. The Finnish government on Oct. 10 said there was damage both to the gas pipeline and to a telecommunications cable between the two NATO countries. Later Tuesday, Estonian Defense Minister Hanno Pevkur said that the exact reason for the failure of the cable between Sweden and Estonia still needs to be clarified.

Persons: Carl, Oskar Bohlin, Bohlin, “, Pål Jonson, ” Pål Jonson, Hanno Pevkur, Pevkur, Ulf Kristersson, Kristersson Organizations: STOCKHOLM, —, Civil Defense, Baltic News Service, Swedish Defense, Estonian, NATO, Swedish Locations: — Sweden, Baltic, Estonia, Finland, Sweden, Swedish, Estonian, Hiiumaa, Ukraine, Germany, Russia, Danish, Bornholm, Denmark

☆ Echoes of the 1973 Oil Crisis
▼ + stars: | 2023-10-16 | by ( Arthur Herman | ) www.wsj.com time to read: 1 min

Pushing a car to a Boston gas station in 1973. Photo: Spencer Grant/Getty ImagesThe attack on Israel on the 50th anniversary of the Yom Kippur War should remind us of another anniversary: the 1973 Arab oil embargo. The war began on Oct. 6, and the Organization of the Petroleum Exporting Countries cut production and raised prices on Oct. 17. By the end of the embargo in March 1974, the global cost of oil had climbed nearly 300%. The White House had ration cards printed in secret (fortunately never used), and President Richard Nixon contemplated military action to seize oil fields in Saudi Arabia, Kuwait and Abu Dhabi.

Persons: Spencer Grant, Richard Nixon Organizations: Organization of, Petroleum, Service, White Locations: Boston, Israel, Saudi Arabia, Kuwait, Abu Dhabi

In turn, higher rates will dampen interest-sensitive expenditure and likely lead to slower growth in oil consumption in 2024. Services are less energy-intensive but more labour-intensive than manufacturing, so the sector’s inflation rate tends to be more persistent and a better indicator of the overall amount of inflationary pressure within the economy. Most rate traders anticipate the central bank will be forced to keep overnight rates higher for longer to squeeze persistent inflation out of the economy. In the short term, the renewed expansion of the U.S. manufacturing and service sectors is supporting oil consumption and prices. In the medium term, however, the higher-for-longer rates needed to bring inflation back to target will likely depress business activity and slow oil consumption growth in 2024.

Persons: Eduardo Munoz, John Kemp, Rod Nickel Organizations: Exxon, REUTERS, Institute, Supply, Federal Reserve, Treasury, Thomson, Reuters Locations: Newport , New Jersey, U.S, United States, Europe, Ukraine

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