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ANKARA, June 25 (Reuters) - Turkey's central bank took fresh steps on Sunday in line with its goals to increase functionality of market mechanisms, after it hiked rates to 15% from 8.5% this week. Turkey's securities maintenance regulation has been simplified to increase the functionality of market mechanisms and strengthen macro financial stability, the Turkish central bank said on Sunday. In a statement after the committee meeting, the bank said it would simplify and improve the existing micro- and macroprudential framework to increase the functionality of market mechanisms and strengthen macro financial stability. With the new regulation, securities that banks must maintain ranged between 3% and 12% of their lira deposits. Previously the requirement of seven additional points applied to banks which held less than 60% lira deposits.
Persons: Nevzat Devranoglu, Huseyin Hayatsever, Daniel Wallis Organizations: Gazette, Thomson Locations: ANKARA, Turkish
Last October, when Roger Waters brought his “This Is Not a Drill” tour through Austin, Texas, he also took the time to record a nearly three-hour appearance on the podcast “The Joe Rogan Experience.” During the episode, Rogan said he had to ask Waters — the former lead lyricist, bassist and co-lead vocalist for Pink Floyd — about the synchronicity that arises from watching “The Wizard of Oz” while listening to “The Dark Side of the Moon.”This phenomenon is sometimes called “The Dark Side of the Rainbow”: If you start the album at just the right time, the music and lyrics uncannily align with the movie’s visuals. Some coincidences are lyrical, as when Dorothy runs away from home at the line “No one told you when to run.” Some are tonal, as when the tornado sequence seems practically choreographed to Clare Torry’s wordless vocals in “The Great Gig in the Sky” — rising to a frenzy as the twister rolls in and then shifting to dreaminess just as Dorothy is knocked unconscious. Charlie Savage, who wrote the first article about the phenomenon as a summer intern at The Journal Gazette in his hometown, Fort Wayne, Ind., looks back at the discovery he made known when he was 19. ◆ ◆ ◆Written and narrated by Sheryl Gay Stolberg
Persons: Roger Waters, Joe Rogan, Rogan, Waters, Pink Floyd —, Oz, Dorothy, Clare Torry’s, , Charlie Savage, , Sheryl Gay Stolberg Organizations: The, Gazette Locations: Austin , Texas, Fort Wayne, Ind
Pink Floyd, ‘The Wizard of Oz’ and Me
  + stars: | 2023-06-21 | by ( Charlie Savage | ) www.nytimes.com   time to read: +19 min
Muted tk tkLike other band members have done consistently over the years, Waters denied that Pink Floyd intentionally structured its 1973 album to align with the 1939 film. Before my article, “The Dark Side of the Rainbow” was just a word-of-mouth thing on an early internet message board. I mostly listened to alternative rock in those days, but Pink Floyd’s Usenet group had a hold on me. I shared that page on the Usenet group and added it to a Pink Floyd “Web ring” — a system in which people with related pages linked to one another. The article page was logging hundreds, then thousands, and eventually tens of thousands of visitors.
Persons: Floyd, , Oz ’, , Roger Waters, Joe Rogan, Waters, Noam Chomsky, Rogan, Pink Floyd —, Oz, Dorothy, Clare Torry’s, , Pink Floyd, Alan Parsons, Willie Nelson, ” Waters, ” Rogan, “ I’ve, it’s, I’m, floyd, Kurt Cobain, Toto, Marvel, grooving, Dave Gilmour, Pink, Kurt Loder, Oz ”, “ Akira ” —, Dorothy tiptoeing, perversely Organizations: The, Gazette, New York Times, Hoosier, MGM, Miss, Journal Gazette, Columbia Records, Dave Gilmour & Co, MTV, New York Daily News, The Washington Post, The Baltimore Sun, YouTube Locations: Austin , Texas, Louisiana, Fort Wayne, Ind, Indianapolis, Los Angeles, Indiana, Boston, York
JP Morgan was behind the whole thingA portrait of JP Morgan circa 1900. Photo by Museum of the City of New York/Getty ImagesThis rumor has everything you could want in a conspiracy theory. The Federal Reserve Bank. There's a theory out there that JP Morgan sank the Titanic in order to pave the way for the establishment of the Federal Reserve Bank in the US. Morgan was reportedly supposed to be on the ship, but decided to skip the maiden voyage at the last second.
Persons: Morgan, JP Morgan, John Jacob Astor, Benjamin Guggenheim, Macy's, Isidor Straus, Astor, We've, Straus, Ida, Layton, Morgan could've Organizations: Museum of, Federal Reserve Bank, Titanic, White Star, Pittsburgh Post, Gazette, US Federal Locations: City of New York, Europe
"It is clear that to ensure economic confidence, legal consistency is a must," one of the senior officials said. Deniz Ozen, lawyer for the Turkish Workers' Party MP, said authorities are violating Turkish law by keeping him in jail. Emma Sinclair-Webb, Turkey director of Human Rights Watch, said a discredited justice system is a matter of concern especially for European investors. Reinforcing the apparent U-turn, Erdogan on Friday named Hafize Gaye Erkan as central bank governor, paving the way for interest rate hikes. "No matter the economic reforms, the investment will not significantly ramp up," he said.
Persons: Erdogan, Tayyip Erdogan, Mehmet Simsek, Simsek, Mehmet Gun, Orhan Turan, Turkey's, Osman, Deniz Ozen, Emma Sinclair, Hafize Gaye Erkan, Howard Eissenstat, Burcu Karakas, Jonathan Spicer, Catherine Evans Organizations: Better Justice Association, Istanbul Convention, Gazette, Bank, AK Party, of Human, Human Rights, Turkish Workers ' Party, Finance, St, Lawrence University, Thomson Locations: ISTANBUL, Turkey, Istanbul, Osman Kavala, Kavala, Webb
The central bank's first female governor, Erkan is also its fifth chief in four years, underlining the challenge she may face delivering a lasting policy turnaround after Erdogan has all but stamped out the bank's independence in recent years. Analysts now expect Turkey's central bank to hike interest rates to between 20% and 25% from 8.5% as soon as this month. ORTHODOX FINANCE MINISTERErdogan, a self-proclaimed "enemy" of interest rates, has pressed the central bank to deliver stimulus in recent years and has been quick to replace its governor. The central bank slashed its policy rate to 8.5% from 19% in 2021, leaving real rates deeply negative and the lira largely managed by dozens of regulations covering credit and foreign exchange. But the last central bank governor to raise rates, Naci Agbal, was fired in 2021 after less than five months on the job.
Persons: Tayyip Erdogan, Hafize Gaye Erkan, Goldman Sachs, Erdogan's, Erdogan, Kavcioglu, Selva Demiralp, Mehmet Simsek, Simsek, Erkan, Naci Agbal, Marsh, Kathryn Wylde, Wylde, Ali Kucukgocment, Jonathan Spicer, Daren Butler, Cynthia Osterman, Hugh Lawson Organizations: Lira, First Republic Bank, Official Gazette, Koc University, U.S . Federal Reserve, Princeton University, First, JPMorgan, Analysts, FINANCE, Greystone, Partnership, New, Thomson Locations: ISTANBUL, United States, unorthodoxy, Erkan, U.S, New York City
William Montgomery repeatedly refused to show receipts for his purchases at Denver-area Walmart stores. Colorado's second-highest court said last week that Walmart can't be held liable for false imprisonment. Walmart did not respond to Insider's request for comment on the decision or their policy on checking receipts. Montgomery also called the trips a "sting" in statements to store employees and responding officers, according to Grove's opinion. by merely presenting his receipt to Walmart employees."'
Persons: William Montgomery, Colorado's, , Montgomery, Matthew D, Grove Organizations: Walmart, Service, Gazette, Costco, Montgomery, Colorado, Appeals Locations: Denver, Colorado
Cuban immigrants in Russia are reportedly joining the army to fight in Ukraine. In exchange, the immigrants will be given Russian citizenship. The Russian military has been recruiting immigrants, hoping to avoid another mandatory mobilization. Earlier this month, Russian President Vladimir Putin announced that foreigners who enlisted in the Russian army to fight in the war would be entitled to get Russian citizenship along with their families. It has previously been reported that Russian authorities were also trying to recruit Central Asian migrant workers to fight in Ukraine to avoid another mandatory mobilization.
Aftonbladet, a Swedish daily newspaper, is trying to appeal to young people. In response, Swedish daily newspaper Aftonbladet got creative, using AI to create rap songs that summarize the news and music to pair with written stories, the paper said. Aftonbladet acknowledged the murky ethics of AI-generated content. "The AI-generated rap is also, as hip-hop tends to be, loaded with some values. The paper has an AI policy in place, which allows journalists to use the technology for various parts of their jobs, including to create headlines, interview transcriptions, and video subtitles.
SAO PAULO, May 17 (Reuters) - Brazil's antitrust regulator Cade on Wednesday recommended the approval of the sale of Natura & Co's (NTCO3.SA) Aesop brand to French cosmetics company L'Oreal (OREP.PA), according to the country's daily gazette. Last month, L'Oreal agreed to buy Australian luxury brand Aesop from Natura for an enterprise value of $2.53 billion. Under the regulator's rules, the approval is considered definitive within 15 calendar days of its publication, if no appeals are filed. Reporting by Andre Romani; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.
But an official gazette signed by President Muhammadu Buhari on March 28 said the Oba of Benin was the rightful owner of all returned Benin Bronzes and was responsible for the management of all places where the artefacts were kept. The commission has in the past signed agreements to return looted artefacts, including from Cambridge college and Germany. The University of Cambridge's Museum of Archaeology and Anthropology did not immediately respond to a Reuters request for comment. There have been questions on whether Nigeria has capacity to safely keep artefacts returned from abroad. The palace has previously said it planned to build a museum to house returned artefacts.
BRASILIA, May 1 (Reuters) - Brazilian President Luiz Inacio Lula da Silva's government published an executive order aimed at increasing revenue by taxing the capital income from financial investments obtained abroad by individuals who reside in Brazil. Income earned from Jan. 1, 2024, will be considered for that purpose, said the text of the measure published on Sunday night that takes effect immediately. According to the text, income obtained abroad from financial investments will be taxed upon the sale or maturity of assets, while profits and dividends from controlled entities will be taxed on Dec. 31 of each year. Income up to 6,000 reais ($1,203) will be tax exempt, while income above that but below 50,000 reais will be taxed at 15%. The Finance Ministry said the measure had the potential to collect around 3.2 billion reais ($641 million) in 2023, close to 3.6 billion reais in 2024 and 6.7 billion reais in 2025.
London CNN —Buckingham Palace and Rupert Murdoch’s News Group Newspapers reached a secret agreement over historical phone hacking claims, court documents filed on behalf of Prince Harry allege. Officials at Kensington Palace, which represents Prince William, told CNN it does not comment on legal proceedings. Prince Harry states that his late grandmother, Queen Elizabeth II, was aware of settlement talks. NGN said it has no comment regarding the suggestion that it made a confidential settlement with Prince William. The company also claims that Prince Harry ought to have brought his lawsuit sooner.
Jennings was caught on tape talking about lynching Black people and killing reporters. In the recording, Jennings also appears to complain about not being able to hang Black people, saying: "They got more rights than we got." The newspaper has filed a lawsuit against the sheriff's office seeking body camera footage and other records connected to Barrick's death. On Tuesday, the Oklahoma Sheriff's Association, a voluntary membership organization and not a regulatory agency, held an emergency meeting of its board. It voted unanimously to suspend Clardy, Manning and Hendrix from the association.
Getir, one of the biggest remaining grocery apps, has raised $500 million, per sources. But its valuation has been almost halved to around $6.5 billion, from $11.8 billion. Other existing shareholders added another $150 million to $200 million to the round, two further sources said. The deal is a 45% markdown on the $11.8 billion price tag that was placed on Getir during its last fundraise in March 2022. Getir could have been valued even lower but the deal came with a high liquidation preference, the sources added.
But for now, the price tag attached to the Dominion case isn’t the worst Fox chairman Rupert Murdoch has had to stomach. A phone hacking scandal involving Murdoch’s tabloid newspaper empire in the United Kingdom has proven much more costly over the past decade or so. It looked at legal fees and damages, as well as expenses tied to the subsequent restructuring of Murdoch’s UK media empire. The last big Murdoch legal fightThe editor of Murdoch’s News of the World and a private investigator were convicted of conspiracy to hack the voicemails of British royals in 2007. Britain’s Prince Harry and actor Hugh Grant are among those who have filed legal challenges against The Sun tied to phone hacking.
The agency anticipates the new rules would mean EVs could also make up nearly half of all new medium-duty vehicles, like delivery trucks, by model year 2032. One expert told CNN the Biden administration’s proposal is a pivotal moment for the US auto industry and consumers. Six in 10 respondents said they believe EVs help the environment “only a little” or “not at all,” Gallup reported. “Folks who purchase electric vehicles will see a cost savings over the lifespan of the vehicle, because they’re not having to buy gas, having to pay for maintenance,” Regan said. That means much of the US car industry will already be transitioning ahead of the proposed federal rules.
Donald Trump's attorney argued the former president can't get a fair trial in Manhattan. Donald Trump was born in New York City, where his family built their empire. Even before he was officially charged, Trump complained that the investigation by Manhattan District Attorney Alvin Bragg was politically motivated. Donald Trump was quoted in the obituary saying he was grateful that his father focused his construction business in Brooklyn and Queens. ''It was good for me,'' a chuckling Donald Trump said, according to the Times.
Venezuela arrests nine CVG officials over corruption probe
  + stars: | 2023-04-02 | by ( ) www.reuters.com   time to read: +1 min
CARACAS, April 2 (Reuters) - Venezuelan authorities have taken nine officials from state-owned metals conglomerate Corporacion Venezolana de Guayana (CVG) - including from steel-maker subsidiary Sidor - into custody during corruption investigations, attorney general Tarek Saab said on Sunday. Prosecutors began investigating irregularities at CVG and Sidor on Friday, adding to investigations into alleged corruption at state oil company PDVSA and a government agency overseeing cryptocurrency transactions, both led by Tareck El Aissami who subsequently resigned as oil minister. Nestor Astudillo and Pedro Maldonado, the presidents of Sidor and CVG respectively, are under arrest, as well as four company vice presidents and three managers, Saab said on Twitter. Some 42 people have been arrested as part of investigations into corruption, Saab tweeted on Saturday night, without giving more details. Reporting by Mayela Armas Additional reporting by Deisy Buitrago Writing by Oliver Griffin Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.
Jeddah, Saudi Arabia CNN —In the distant past, Muslim pilgrims came to the holy city of Mecca on foot. Haramain means “two sanctuaries” in Arabic, named for the holy cities of Mecca and Medina that sit on the line’s opposite ends. Business class passengers on the train can watch seat-back TVs. Even on a short journey like the one from Jeddah to KAEC, business class passengers are entitled to a full meal service. When it comes to high-speed railway, it seems as though the Haramain line is only the beginning in Saudi Arabia.
Persons: Tawfiq Al Rabiah, ” Al Rabiah, King Abdullah, King, Saudi riyals, Lilit Marcus, Foster, they’re, KAEC, isn’t, it’s, Umrah, Khalid al, Falih Organizations: CNN, Saudi Arabia CNN —, King Abdulaziz International Airport, King Abdullah Economic, King Abdullah Economic City, Saudi, CNN Station, Foster + Partners, du Nord, Getty, Saudi Gazette, Bandar, Saudi Railway Polytechnic, Saudi Arabia’s Investment Locations: Jeddah, Saudi Arabia, Mecca, Hajj, Medina, Jeddah’s, Jeddah Al, New York, Paris, du, Sulimaniyah, Bandar Aldandani, AFP, KAEC, umrah, Islam, Riyadh
Factbox: Steps in Finnish, Swedish path to NATO membership
  + stars: | 2023-03-30 | by ( ) www.reuters.com   time to read: +5 min
Hungary's parliament approved a bill this week to allow Finland to join NATO after Erdogan declared Turkey was ready to approve that bid. Turkey's parliament is expected to follow through on Erdogan's commitment with a vote this week, clearing the way for Finland to join NATO within weeks. Here are the key steps in Finland's and Sweden's path towards NATO membership so far:FINLAND AND SWEDEN SUBMIT MEMBERSHIP REQUESTThe applications, letters signed by the countries' foreign ministers, were formally handed in by Finland's and Sweden's NATO ambassadors on May 18, 2022. FINLAND FORGES AHEADAll NATO countries must ratify a would-be member's application before it can join the alliance. But NATO Secretary-General Jens Stoltenberg has said getting Sweden's application over the line is a top priority.
The Turkish parliament was the last among the 30 members of the alliance to ratify Finland's membership after Hungary's legislature approved a similar bill earlier this week. Finland and Sweden asked to join NATO last year in response to Russia's invasion of Ukraine. "NATO membership will strengthen Finland's security and improve stability and security in the Baltic Sea region and Northern Europe," the Finnish government said in a statement following the Turkish parliament vote. Twe Turkish parliament's ratification of Finland's NATO membership is set to be approved by President Tayyip Erdogan and then published in the country's Official Gazette. When Finland's instrument of accession document reaches the U.S. State Department, the Nordic country will formally become a NATO member.
CARACAS, March 27 (Reuters) - Venezuela's President Nicolas Maduro suspended a committee he had appointed to restructure state oil firm PDVSA under the supervision of Tareck El Aissami, the oil minister who resigned last week amid an expanding anti-corruption probe into the company and the judiciary. The probe has led to 10 officials and 11 businessmen being arrested and 11 more wanted. PDVSA President Pedro Tellechea was appointed as the new oil minister last week, giving him wide control of the industry. Maduro said last week a new restructuring process must begin in PDVSA, formally known as Petróleos de Venezuela, S.A., to audit its accounts and uncover corruption. PDVSA's restructuring commission was created to adopt urgent measures to "protect the industry from imperialist aggression."
The central bank stated in a note that Serra's departure follows the end of his term on Feb. 28. The day after Serra's departure, the director of Economic Policy, Diogo Guillen, began temporarily accumulating his function, a common practice at the central bank until substitutions are made. Supervision director Paulo Souza, whose term also expired at the end of February, remains in his current position. Under a 2021 law granting formal autonomy to the central bank, Governor Roberto Campos Neto will remain in office until December 2024. Lula, who has criticized Campos Neto and the central bank for keeping interest rates high to combat inflation, will eventually replace all nine members of the bank's board, which decides monetary policy.
Jordyn Martin, 21, lost three fingers to an ice cream machine after a hand got caught, reports say. Jordyn Martin, a 21-year-old who worked at a Cold Stone Creamery in Corvallis, Oregon, was in a workplace incident on March 15 that left her with only seven fingers, the Corvallis Gazette-Times reported. According to the local news, Martin's hand was mangled by an ice cream machine after a towel she was holding got caught in its rotors. "In memory of Jordyn's fingers please lend a hand," the fundraiser is titled. According to Martin's fundraiser description, her dominant hand was hurt, and doctors were unable to reattach the amputated digits during surgery.
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