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☆ Mali president signs new mining code in bid to raise govt stake
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

A mining ministry official said last week that this would depend on the implementing decrees, which have not yet been made available. Mali is one of Africa's top gold producers and is home to mining companies including Barrick Gold (ABX.TO), B2GOLD(BTO.TO), Resolute Mining (RSG.AX) and Hummingbird Resources (HUMR.L). "The shortfall is around 300 to 600 billion CFA. "When we go into negotiations with the companies, it is possible that we will obtain 300 to 400 billion," he said. "From now on, for the sake of transparency and inclusiveness, mining titles will be signed by several ministers (finance, mining, environment, etc.

Persons: Assimi Goita, Alousseni Sanou, Sanou, Amadou Keita, Goita, Tiemoko Diallo, Nellie Peyton, Sharon Singleton Organizations: Barrick, Resolute Mining, Hummingbird Resources, Mali's Finance, CFA, Mining, Thomson Locations: BAMAKO, Mali

Bank Indonesia's logo is seen at its headquarters in Jakarta, Indonesia, January 17, 2019. Bank Indonesia (BI) plans to issue new rupiah-denominated securities, using its holdings of government bonds as the underlying asset, as a new monetary instrument aimed at attracting foreign portfolio capital flows, Governor Perry Warjiyo said. BI kept the benchmark 7-day reverse repurchase rate (IDCBRR=ECI) at 5.75% for its seventh straight monthly policy review, as widely expected by economists surveyed by Reuters. Guarding the rupiah "is our way to protect the domestic economy, inflation and growth from global spillovers," Warjiyo told reporters. Inflation slowed in July to 3.08%, roughly the midpoint of the central bank's 2% to 4% target range.

Persons: Willy Kurniawan, Perry Warjiyo, Warjiyo, Radhika Rao, Shivaan Tandon, Bank Danamon, Fransiska Nangoy, Bernadette Christina Munthe, Stefanno Sulaiman, Ananda Teresia, Gayatri Suroyo, Martin Petty, Kim Coghill, Kirsten Donovan Organizations: REUTERS, Bank Indonesia, BI, Reuters, Securities, U.S, Treasury, DBS Bank, Capital Economics, Bank, Thomson Locations: Jakarta, Indonesia, JAKARTA, Asia's, China

☆ Reaction to Wagner mercenary chief Yevgeny Prigozhin in plane crash with no survivors
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Yulia Morozova/File Photo Acquire Licensing RightsAug 23 (Reuters) - Russian mercenary chief Yevgeny Prigozhin was listed as a passenger on a private jet that crashed on Wednesday evening north of Moscow with no survivors, the Russian authorities said. The following is reaction:*U.S. President Joe Biden to reporters in Lake Tahoe:“I don't know for a fact what happened. Reports Russian Air Defence shot down the plane suggests Putin is sending a very loud message." It so happens that political opponents whom Vladimir Putin considers a threat to his power do not die naturally." In the end, if Vladimir Putin is so powerful, why didn’t he arrest Prigozhin?”Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

Persons: Wagner, Yevgeny Prigozhin, Maxim Fomin, Vladlen Tatarsky, Yulia Morozova, Joe Biden, I'm, Putin, Mykhailo Podolyak, Vladimir, Alicia Kearns, Zbigniew Rau, Vladimir Putin, Daniel Hoffman, Prigozhin, ”, That’s, Pavel Luzin, thinktank, Cynthia Osterman Organizations: REUTERS, Reuters, CNN, Foreign Affairs, Govt, Russian Air Defence, CIA, Center for, Thomson Locations: St Petersburg, Moscow, Russia, Lake Tahoe, Estonia, U.S

☆ US govt awards $1.4 bln for development of new COVID therapies, vaccines
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

The Regeneron Pharmaceuticals company logo is seen on a building at the company's Westchester campus in Tarrytown, New York, U.S. September 17, 2020. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsCompanies Regeneron Pharmaceuticals Inc FollowAug 22 (Reuters) - The U.S. government said on Tuesday it had awarded $1.4 billion for the development of new therapies and vaccines against COVID-19, including a $326 million contract with Regeneron Pharmaceuticals (REGN.O) for a next-generation antibody therapy for prevention of infections. The funding to Regeneron is a part of a $5 billion initiative dubbed "Project NextGen" by the U.S. Department of Health and Human Services (HHS). The funding also includes $1 billion for four mid-stage clinical trials of new COVID vaccines, and $100 million to Global Health Investment Corp - a non-profit organization that invests in new technologies that will accelerate responses to diseases. Reporting by Pratik Jain in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Regeneron, Pratik Jain, Maju Samuel Organizations: Regeneron Pharmaceuticals, REUTERS, U.S, COVID, U.S . Department of Health, Human Services, U.S . Food, Drug Administration, Omicron, Global Health Investment Corp, Thomson Locations: Westchester, Tarrytown , New York, U.S, Bengaluru

Southeast Asia's second-largest economy has been hobbled by slackening global growth, led by its main trading partner China and falling investor confidence due to a protracted period without a government following elections in May. On a quarterly basis, GDP rose a seasonally adjusted 0.2% in the June quarter, also sharply under a forecast rise of 1.2%. The global demand weakness prompted the government to cut its 2023 GDP growth forecast to between 2.5% and 3.0% from a range of 2.7% to 3.7%. As weak global demand crimps exports, Thailand's economy has been supported by its vital tourism sector and private consumption growth. It projected exports to drop 1.8% in 2023 versus an earlier forecast for a 1.6% fall.

Persons: Danucha Pichayanan, Pheu, Srettha Thavisin, Danucha, Orathai Sriring, Kitiphong, Martin Petty Organizations: China, National Economic, Social Development Council, Thomson Locations: BANGKOK, Thailand

☆ Elon Musk seemed to have 'bought what Putin was selling, hook, line, and sinker,' fellow PayPal mafia member says
▼ + stars: | 2023-08-21 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

He said Musk "bought what Putin was selling, hook, line, and sinker" regarding the war in Ukraine. Hoffman told The New Yorker Musk "bought what Putin was selling, hook, line, and sinker," regarding Russian President Vladimir Putin's account of the war in Ukraine. Putin wants peace—we should be negotiating peace with Putin,'" Hoffman told The New Yorker, referencing Musk's comments at a September 2022 conference in Aspen. Obviously, we are pro Ukraine," Musk tweeted hours after his poll. "Elon tends to have a 'I must build it with my own hands'" approach, Hoffman told CNBC in April.

Persons: Reid Hoffman, Elon Musk, Putin, Musk, Hoffman, Vladimir Putin's, he'd, Vladimir, Steven Butow, Starlink, we'll, Colin Kahl, Elon —, —, Elon Organizations: Paypal Mafia, New, PayPal, Kremlin, SpaceX, Politico, Pentagon, CNN, Defense, Policy, New Yorker, Milken, CNBC, Tesla Locations: Ukraine, Aspen ., Russia, Crimea, Ukrainian, New

Alberta, the country's main oil and gas producing province, paused approvals on Aug. 3 of new renewable electricity generation projects over one megawatt until Feb. 29, chilling investment in the fast-growing industry. The pause is necessary to address concerns about renewables' reliability and land use, said a spokesperson for Alberta's utilities minister. A second company has paused design work on its first Alberta project, Dye added. Along with domestic firms, foreign companies like Berkshire Hathaway's (BRKa.N) BHE Canada, EDF Renewables and Enel Green Power generate renewable power in Alberta. The pause directly affects 15 projects in the approvals queue, the government spokesperson said.

Persons: Todd Korol, Danielle Smith, Smith, Justin Trudeau's, Jorden Dye, Dye, Pembina, Grant Arnold, Arnold, BluEarth, Dan Balaban, Rod Nickel, Steve Scherer, Denny Thomas, Marguerita Choy Organizations: REUTERS, Rights, Justin Trudeau's Liberal, Business Renewables, THE, THE ALBERTA WAY, EDF Renewables, Companies, Pembina Institute, Renewables, U.S . Alberta Utilities Commission, Greengate, Copenhagen Infrastructure Partners, Thomson Locations: Rocky, Pincher Creek, Alberta, Rights WINNIPEG , Manitoba, Canadian, U.S, Calgary, THE ALBERTA, THE ALBERTA WAY Alberta, Berkshire, Canada, Winnipeg , Manitoba, Ottawa

☆ Brazil govt pushes Congress to approve 'green' bills before COP28
▼ + stars: | 2023-08-18 | by ( Leticia Fucuchima | ) www.reuters.com time to read: +3 min

[1/2] A view of a wind farm is seen in the city of Osorio, in southern Brazil, November 30, 2007. Rollemberg said the government-sponsored bills would be focused on four main topics: establishing a new carbon market, regulating offshore wind power, launching the "Fuel of the Future" project and regulating green hydrogen. That bill might be submitted to Congress as early as next week, the secretary said. It's more than enough time for Congress to pass all the bills," Rollemberg said. The South American nation is set to host the U.N. climate talks in 2025 in the Amazonian town of Belem.

Persons: Jamil Bittar, Rodrigo Rollemberg, Luiz Inacio Lula da Silva, Jair Bolsonaro, Lula, Rollemberg, Leticia Fucuchima, Gabriel Araujo, Marguerita Choy Organizations: REUTERS, Rights, Boeing, SAO PAULO, Reuters, United Nations, SAF, Thomson Locations: Osorio, Brazil, BRAZIL, Dubai, Belem

An aerial view shows trees as the sun rises at the Amazon rainforest in Manaus, Amazonas State, Brazil October 26, 2022. REUTERS/Bruno Kelly/File Photo Acquire Licensing RightsBRASILIA, Aug 17 (Reuters) - Brazil's government is looking to create a regulated carbon market with emissions caps for major companies and protections for indigenous communities involved in carbon-offset activities, a senior official said. After passing Congress, the regulations would require two years of emissions monitoring before the cap takes effect. For example, some developers have approached indigenous communities with unfair contracts offering meager payments, he said. The proposed legislation would establish criteria for such deals, guaranteeing broad consensus and equitable terms for indigenous communities involved.

Persons: Bruno Kelly, Rafael Dubeux, Luiz Inacio Lula da Silva's, Lula, Dubeux, Marcela Ayres, Bernardo Caram, Brad Haynes, Devika Organizations: REUTERS, Rights, Finance, Climate, Thomson Locations: Manaus, Amazonas State, Brazil, Rights BRASILIA

☆ Iraq set in 'battle' against dollar smugglers, c.bank governor says
▼ + stars: | 2023-08-16 | by ( Timour Azhari | ) www.reuters.com time to read: +4 min

Last month, the U.S. Treasury Department and the Fed barred 14 Iraqi banks from conducting dollar transactions as part of a wider crackdown on dollar smuggling to Iran via the Iraqi banking system, U.S. officials said. Allaq said that action related to transfers from 2022, before a new platform that aimed to improve transparency went live. He said the central bank was undertaking a review of the banking sector and introducing new regulations that he said would likely see some banks close. "It would be very normal in the coming period to see a reduction in the (number of private banks)," he said. Since January the central bank has asked banks to provide detailed information on senders and recipients of transfers via an online platform.

Persons: Ali al, Allaq, Timour Azhari, Angus MacSwan Organizations: Reuters, U.S . Treasury Department, Fed, U.S . Federal, U.S, Thomson Locations: Iraq, Iran Baghdad, Washington, Tehran Banking, BAGHDAD, Iran, Turkey, Syria, United States, U.S, Tehran, Iraq's

☆ US loss of AAA badge a reminder of 'regime shift' for government debt
▼ + stars: | 2023-08-14 | by ( Yoruk Bahceli | ) www.reuters.com time to read: +6 min

"I think it really brings home that shift being a regime shift rather than a cyclical one," Katimbo-Mugwanya said. S&P said the assumption that governments would prioritise servicing debt over spending promises had rarely been tested at such high debt levels. For now, despite the steepest increases in borrowing costs in decades, investors still see little risk in holding governments' longer-term debt. POLICY WATCHGreater focus on longer-term risks should bring scrutiny of government policies. Still, with higher debt an economic reality, few governments are left with the coveted AAA rating.

Persons: Brendan McDermid, Fitch, David Katimbo, Mugwanya, Bill Ackman, Moritz Kraemer, Fichan, Kraemer, Kshitij Sinha, Martin Lenz, LBBW's Kraemer, Yoruk Bahceli, Davide Barbuscia, Tomasz Janowski Organizations: New York Stock Exchange, REUTERS, AAA, Financial, Fitch, EdenTree Investment Management, P Global, LBBW, European Union, European Commission, European Central Bank, Syz, New York Fed, Life Asset, Union Investment, Thomson Locations: New York City, U.S, United States, Japan

☆ Japan wholesale inflation slows again, bolstering case for stimulus
▼ + stars: | 2023-08-10 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

REUTERS/Yuya Shino/File PhotoSummary Wholesale inflation slowest since March 2021Govt subsidy on utility bills weighs on wholesale pricesEasing inflation may keep BOJ stimulus intact for nowTOKYO, Aug 10 (Reuters) - Japan's wholesale inflation eased for a seventh month in July as pressure from high global commodity prices eased, a development economists say is likely to encourage the central bank to keep its monetary stimulus in place. It was the slowest wholesale inflation since March 2021 when prices turned positive to mark 1.0% growth, Bank of Japan (BOJ) data showed. After peaking at 10.6% in December, wholesale inflation has decelerated for seven months in a row. On the month, wholesale prices rose 0.1%, up for the first time in three months. As domestic corporate goods prices continue to slow, consumer prices will also slow from autumn," said Takeshi Minami, chief economist at the Norinchukin Research Institute.

Persons: Yuya, Takeshi Minami, Tetsushi Kajimoto, Sam Holmes, Shron Singleton Organizations: REUTERS, Bank of Japan, Norinchukin Research, Thomson Locations: Tokyo, Japan, TOKYO

☆ New Zealand govt pledges gender pay gap reporting
▼ + stars: | 2023-08-10 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

REUTERS/David Gray/File PhotoWELLINGTON, Aug 11 (Reuters) - New Zealand's Labour government, trailing in opinion polls ahead of an October election, said on Friday it plans to require large firms to publish gender pay gap data in an effort to get equal pay for the country’s women. With only two months to the Oct. 14 polls the government will need to be re-election or gain bipartisan support after the polls for the gender pay gap policy to be legislated. It said it plans initially to require 900 public sector companies, which employ more than 250 employees each, to report their gender pay gap. “Countries we compare ourselves to including Australia, Canada, and the United Kingdom have already successfully introduced gender pay gap reporting. As of June 30, the gender pay gap in the public service was 7.7%, according to data from the Public Service Commission.

Persons: David Gray, ”, Women Jan Tinetti, Lucy Craymer, Michael Perry Organizations: REUTERS, Zealand's Labour, Women, Public Service Commission, Labour Party, Curia Market Research, National, ACT, Thomson Locations: Wellington, New Zealand, Australia, Canada, United Kingdom

☆ Vanuatu faces political instability as govt delays no-confidence vote
▼ + stars: | 2023-08-10 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

REUTERS/Eduardo Munoz/File PhotoSYDNEY, Aug 10 (Reuters) - Vanuatu Prime Minister Ishmael Kalsakau said political instability in the Pacific Islands nation could impact investment and tourism, after his government boycotted a no-confidence vote in parliament on Thursday. The reasons given for removing the prime minister had "no basis", he added. Loughman drew Vanuatu closer to China as the previous prime minister, until his government lost a snap national election in 2022. In a bid to boost government numbers, Jotham Napat stepped down as foreign minister and deputy prime minister on Monday, allowing a cabinet reshuffle that won back two lawmakers. Loughman countered that he had the numbers to form government next week, Vanuatu Daily Post reported.

Persons: Alatoi Ishmael Kalsakau, Eduardo Munoz, Ishmael Kalsakau, Bob Loughman, Kalsakau, Loughman, Jotham Napat, Kirsty Needham, Stephen Coates Organizations: United Nations Headquarters, REUTERS, Vanuatu, Vanuatu Daily Post, Thomson Locations: Vanuatu, New York City, U.S, China, Australia, Loughman, United States, Beijing, Solomon Islands

The findings come as support for Chancellor Olaf Scholz and his coalition slumps and the AfD capitalises on voter insecurity. German inflation has been on a downward trend, but is still much higher than the European Union's 2% target. Low and middle income households have been generally hit harder by inflation, Florian Dorn, a researcher at Ifo told Reuters. Although higher energy import prices initially drove inflation in Europe and Germany, companies were also putting up prices beyond their cost inflation, WSI analysis showed. Companies' profit inflation rose by 7% in 2022 compared to an only 3.3% rise in labour costs.

Persons: Fabian Bimmer, Chancellor Olaf Scholz, Florian Dorn, Ulrich Schneider, Der, Riham, Alexandra Hudson Organizations: REUTERS, Kantar Public, Ifo, Reuters, Workers, Companies, Alexandra Hudson Our, Thomson Locations: Hamburg, Germany, Russia, Ukraine, Europe's, Europe

The parliament's five-year term is due to expire on Aug. 12, but this move would dissolve it three days earlier. "I will tonight advise the president to dissolve the parliament," the premier told parliament. He said he would start discussions with the opposition leader on Thursday to pick a name from candidate lists of both sides to nominate as caretaker prime minister. The vote, however, could be delayed several months with the election commission set to start redrawing hundreds of constituencies based on a fresh census. The last general election in July 2018 was won by the party of cricketer-turned-politician Imran Khan, who was sworn in days later as prime minister for the first time.

Persons: Shehbaz Sharif, Arif Alvi, Imran Khan, Khan, Sharif, Asif Shahzad, Gibran Peshimam, Andrew Heavens, Bernadette Baum Organizations: Pakistan, International Monetary Fund, Thomson Locations: ISLAMABAD, Pakistan, Islamabad, Karachi

☆ Cathay Pacific posts best H1 profit since 2010, to repay govt aid package
▼ + stars: | 2023-08-09 | by ( Clare Jim | ) www.reuters.com time to read: +2 min

HONG KONG, Aug 9 (Reuters) - Cathay Pacific Airways (0293.HK) reported on Wednesday its best first-half profit in more than a decade and announced plans to order more planes and repay a Hong Kong government rescue package after a major turnaround in travel demand. Cathay has recovered capacity more slowly than its closest rival, Singapore Airlines, (SIAL.SI) because it faced tighter quarantine rules for longer, and needed to train more staff and bring back grounded planes. The Hong Kong carrier expects to reach 70% of its pre-pandemic capacity by the end of the year and 100% by the end of 2024. Cathay said it intended to exercise purchase rights to buy 32 Airbus (AIR.PA) A320neo family aircraft, looking to add to its fleet as demand rebounds. ($1 = 7.8151 Hong Kong dollars)Reporting by Clare Jim and Donny Kwok; Editing by Jamie Freed and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Hong, Patrick Healy, Clare Jim, Donny Kwok, Jamie Freed, Gerry Doyle Organizations: Cathay Pacific Airways, HK, Hong, Cathay, Singapore Airlines, Hong Kong, Airbus, Swire Pacific, Thomson Locations: HONG KONG, Hong Kong, Hong, Air China

☆ Rahul Gandhi rips into Indian PM Modi over Manipur violence
▼ + stars: | 2023-08-09 | by ( Yp Rajesh | ) www.reuters.com time to read: +4 min

Rahul Gandhi, a senior leader of India's main opposition Congress party, arrives at the parliament after he was reinstated as a lawmaker, in New Delhi, India, August 7, 2023. "You have killed mother India in Manipur," Gandhi said as opposition lawmakers thumped their desks and their government counterparts booed him. New Delhi has rushed tens of thousands of additional security forces to the state of 3.2 million people but sporadic violence continues. "Our prime minister has not gone to Manipur because for him Manipur is not in India," Gandhi said. Modi was not present in parliament when Gandhi spoke but he is due to address it on Thursday before it is put to vote.

Persons: Rahul Gandhi, India's, Stringer, Modi, Manipur Modi, Narendra Modi's, Gandhi, YP Rajesh, Simon Cameron, Moore Organizations: REUTERS, Wednesday, Bharatiya Janata Party, BJP, MANIPUR Gandhi, YP, Thomson Locations: New Delhi, India, Manipur Gandhi, Manipur, DELHI, United States, MANIPUR, Kuki, Haryana, BJP

NEW DELHI/BENGALURU, Aug 8 (Reuters) - Indian gaming app Mobile Premier League will lay off 350 employees as it takes steps to "survive" a tax imposed by the Indian government on online gaming companies, according to an internal memo seen by Reuters on Tuesday. The move comes on the back of the government's decision last month to impose a 28% tax on funds that online gaming companies collect from customers. The new rule will increase the company's tax burden by 350%-400%, MPL CEO Sai Srinivas said in the memo, adding that the company is revisiting expenses related to their server and office infrastructure. The source could not be named as they are not authorised to speak to the media. Reporting by Aditya Kalra; Additional reporting by Biplob Kumar Das and Ashish Chandra; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Sai Srinivas, Srinivas, MPL, Aditya Kalra, Biplob Kumar Das, Ashish Chandra, Sonia Cheema Organizations: NEW, Mobile Premier League, Reuters, Thomson Locations: NEW DELHI, BENGALURU

☆ Canada govt body guarantees up to $2.2 bln fresh loan to Trans Mountain expansion project
▼ + stars: | 2023-08-05 | by ( ) www.reuters.com time to read: +2 min

It is meant to unlock Asian markets for Canadian oil, which is mostly exported to the United States now. Critics have also slammed the ownership of a pipeline project by the Liberal government, which they argue runs counter to Trudeau's ambitious climate goals. TMC had received a up to C$3 billion loan guarantee between late March and early May this year and had received a C$10 billion loan guarantee in 2022 from the federal government. Canada's finance ministry did not immediately respond to a Reuters request for comment on the fresh loan guarantee. In June, a finance ministry spokesperson said the loan guarantee was "common practice" and did not reflect any new public spending.

Persons: Justin Trudeau's, Chrystia Freeland, Anirudh, Alistair Bell Organizations: Kinder Morgan, Canadian, Export Development Canada, Justin Trudeau's Liberal, Kinder Morgan Inc, TMC, Finance, Liberal, Thomson Locations: United States, Burnaby , British Columbia, Bengaluru

☆ Insight: BOJ makes bold shift as yen risks grow too big to ignore
▼ + stars: | 2023-08-03 | by ( Leika Kihara | ) www.reuters.com time to read: +9 min

The BOJ's decision shook markets on Friday and contrasted sharply with Ueda's more cautious comments in recent months about the dangers of retreating too quickly from accommodative Kuroda-era policies. "There's also a small but probable risk of inflation overshooting in Japan, which gave the BOJ reason to act." NEW PRIORITIESThe BOJ's policy decision last week signalled to investors that it would now allow the 10-year government bond yield to move closer to 1% before it intervenes. 'BIT BY BIT'The shift in thinking gained momentum at the BOJ's June policy meeting, but not enough to turn the tide. It was a test case, or a preliminary exercise, toward future policy normalisation," said former BOJ board member Takahide Kiuchi.

Persons: Issei Kato, Kazuo Ueda, Haruhiko Kuroda, Fumio, accommodative Kuroda, Ueda, YCC, There's, Hirokazu Matsuno, Seiji Adachi, Asahi Noguchi, Ryozo Himino, Shinichi Uchida, Uchida, Masato Kanda, Kanda, Takahide, Leika Kihara, Takaya Yamaguchi, Takahiko Wada, Kentaro Sugiyama, Yoshifumi, Sam Holmes Organizations: Bank of Japan, REUTERS, TOKYO, Bank, Ueda, Reuters, BIT, Asahi, Nikkei, Thomson Locations: Tokyo, Japan

☆ Accessing Capital to Drive Growth
▼ + stars: | 2023-08-02 | by ( Kate Rogers | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAccessing Capital to Drive GrowthDespite continued economic uncertainty, growth opportunities do currently exist for small businesses. But growth often requires capital, which has become a major focus of the Small Business Administration. We'll discuss the agency's programs that offer financial assistance, and access, for US-based small business owners, and what the govt is doing to elevate businesses from historically marginalized groups. This interview was a part of CNBC's Small Business Playbook event on August 2nd, 2023.

Persons: We'll Organizations: Small Business Administration, US, CNBC's

☆ A Wall Street titan who called the 2008 recession shares 7 top trades to make before the US economy enters into another downturn with stocks 'priced for perfection'
▼ + stars: | 2023-08-02 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Look at the Treasury yield curve and The Conference Board's Leading Economic Index, says Rosenberg, who called the 2008 recession. He added: "Even if we could argue about a recession or a soft landing, you have Nirvana priced into the stock market as an asset class right now." 7 places for returns as a recession loomsThe first place Rosenberg said he's bullish on is the Treasury market. Treasury bills have durations of one year or less, while Treasury bonds have durations of 20 years or more. The iShares MSCI Japan ETF (EWJ) is one way to invest in Japanese stocks.

Persons: David Rosenberg, Treasurys, Rosenberg, there's, he's, bullish, underperformance, Warren Buffett Organizations: Treasury, Conference, CNN, Rosenberg Research, Treasury Bond ETF, Regional Banking, Vanguard Utilities, Real, Fidelity MSCI Communication Locations: U.S, Japan

☆ Lynas Rare Earths signs updated contract with US govt for Texas facility, shares rise
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

Aug 1 (Reuters) - Lynas Rare Earths (LYC.AX) said on Tuesday it had signed an updated contract with the U.S. Department of Defense (DoD) for the construction of the heavy rare-earths component of its rare-earths processing facility in Texas. Lynas, the world's largest producer of rare-earths outside of China, said the updated contract follows detailed design work and cost updates for the project. Lynas' Texas facility will serve both the DoD and commercial customers, and is targeted to be operational in the financial year 2026. Feedstock for the facility will be sourced from the company's Mt Weld deposit and Kalgoorlie facility in Western Australia, the miner added. Reporting by Himanshi Akhand in Bengaluru; Editing by Maju Samuel, Sherry Jacob-Phillips and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Lynas, Amanda Lacaze, Himanshi, Maju Samuel, Sherry Jacob, Phillips, Rashmi Organizations: U.S . Department of Defense, U.S, DoD, Thomson Locations: Texas, China, Lynas ' Texas, Mt Weld, Kalgoorlie, Western Australia, Bengaluru

☆ Australian lawmakers recommend potential WeChat ban on govt devices
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Aug 1 (Reuters) - A senate committee investigating how foreign powers use social media to interfere in Australia has recommended a swathe of rules and restrictions for social media platforms, including potentially banning Chinese messaging service WeChat on government devices. Tuesday's report contains 17 recommendations including new transparency rules enforceable by fines, expanding an existing TikTok ban on government devices to contractors and investigating a ban on WeChat on government devices. "Platforms like TikTok and WeChat that are subject to the control of authoritarian regimes illustrate the broader cyber security risk to sensitive government information," he said in a statement. The committee also recommended that Australia helps developing countries in the Indo-Pacific resist "malicious information operations" by authoritarian states. While many recommendations singled out Chinese social media platforms, a set of 11 transparency rules would require all large social media platforms to label state affiliated media accounts, and disclose when governments direct content moderation and actions against accounts of elected officials.

Persons: WeChat, Paterson, James Paterson, Lewis Jackson, Ed Osmond Organizations: SYDNEY, HK, Liberal, Labor, Home Affairs, Thomson Locations: Australia, China

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