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KARACHI, Pakistan, June 2 (Reuters) - Pakistan has passed a special order to allow barter trade with Afghanistan, Iran and Russia for certain goods, including petroleum and natural gas, the Ministry of Commerce said on Friday. The government order, called the Business-to-business (B2B) Barter Trade Mechanism 2023 and dated June 1, lists goods that can be bartered. Sajid Amin, deputy director of the Sustainable Development Policy Institute, said Pakistan could gain particularly from oil and energy imports from Russia and Iran without adding to dollar demand. "While it may not solve currency smuggling, particularly at the Afghanistan border, it can discourage smuggling of goods from Iran, such as diesel, and Afghanistan which is hurting the economy," Amin added. In May, the Pakistan Petroleum Dealers Association complained that up to 35% of the diesel sold in Pakistan had been smuggled from Iran.
Persons: Sajid Amin, Amin, Pakistan's, Musadik Malik, Malik, Ariba Shahid, Asif Shahzad, Simon Cameron, Moore, David Holmes Organizations: Ministry of Commerce, State, Sustainable Development Policy Institute, Reuters, Pakistan Petroleum Dealers Association, Thomson Locations: KARACHI, Pakistan, Afghanistan, Iran, Russia
China lifted strict COVID-19 restrictions in January, allowing visitors to swarm into Macau for the first time in more than three years. A general view shows casinos and hotels in Macau, China February 5, 2020. Sands last week officially opened its "Londoner" casino resort which includes a 6,000 seat arena and attractions like a replica of London's Big Ben clock tower. It was the first big casino opening since the COVID pandemic and was attended by former England football captain David Beckham who drew scores of fans to the property. ($1 = 8.0840 patacas)Reporting by Farah Master; Editing by Tom Hogue & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.
Persons: Tyrone Siu, David Beckham, Farah Master, Tom Hogue, Simon Cameron, Moore Organizations: Labour, REUTERS, Sands, HK, Wynn, MGM, SJM Holdings, Galaxy Entertainment, Melco, England, Thomson Locations: HONG KONG, Macau, China, Sands China, Wynn Macau, MGM China, Sands
LONDON, June 1 (Reuters) - The euro held its ground on Thursday, above a two-month low, after European Central Bank (ECB) President Christine Lagarde said inflation remains too high and further policy tightening was necessary. But the current level is still more than three times the ECB's 2% inflation target. "Today, inflation is too high and it is set to remain so for too long," Lagarde said in a speech. Money markets are pricing in an 85% chance of a 25 bps hike when the ECB meets on June 15. Another 25 bps hike is expected in July, according to Refinitiv.
Persons: Christine Lagarde, Lagarde, Simon Harvey, Luis de Guindos, Carol Kong, Joice Alves, Rae Wee, Simon Cameron, Moore, Sharon Singleton, Andrew Heavens Organizations: European Central Bank, ECB, Reserve, U.S . House, Fed, U.S, Democratic, Commonwealth Bank of Australia, Thomson Locations: Europe, London, Singapore
LONDON/TOKYO, June 1 (Reuters) - Global shares rose on Thursday amid receding bets for a U.S. rate hike this month and relief over the passage through the U.S. House of Representatives of a bill to suspend the federal debt ceiling. The Euro STOXX 600 index (.STOXX) rose 0.8% after closing at a two-month low in the previous session. The MSCI world equity index (.MIWD00000PUS), which tracks shares in 47 countries, added 0.2%. Also bolstering the mood were U.S. Federal Reserve officials including governor and vice chair nominee Philip Jefferson pointing to a rate hike "skip" at the Fed's June 13-14 policy meeting. However, shortly after, the Fed's Jefferson said skipping a rate hike in two weeks would provide policymakers time to see more data before making a decision.
Persons: Joe Biden, Ray Attrill, Philip Jefferson, Sandrine Perret, Jefferson, Patrick Harker, It's, it's, Tony Sycamore, Tom Wilson, Kevin Buckland, Simon Cameron, Moore, Lincoln, Emelia Organizations: U.S . House, Republicans, National Australia Bank, Federal, Fed, Philadelphia Fed, IG Markets, Treasury, Thomson Locations: TOKYO, U.S, Unigestion, Asia, London, Tokyo
TOKYO, June 1 (Reuters) - Most Asia-Pacific stock markets rose on Thursday amid receding bets for a U.S. rate hike this month and relief over the passage of the U.S. debt ceiling bill through the House. Treasury yields rose slightly from nearly two-week lows. ""What this does is it turns the attention to the incoming data and the Fed meeting this month," Attrill added. However, shortly after, the Fed's Jefferson said skipping a rate hike in two weeks would provide policymakers time to see more data before making a decision. Philadelphia Fed President Patrick Harker also said on Wednesday that for now he is inclined to support a "skip" in rate hikes.
Persons: Philip Jefferson, Hong, HSI, Ray Attrill, Attrill, Jefferson, Patrick Harker, Kevin Buckland, Simon Cameron, Moore Organizations: Federal, Treasury, Japan's Nikkei, Republicans, National Australia Bank, Philadelphia Fed, Brent, U.S, West Texas, Thomson Locations: TOKYO, Asia, Pacific, U.S, Tokyo
The Caixin/S&P Global manufacturing purchasing managers' index (PMI) rose to 50.9 in May from 49.5 in April, above the 50-point index mark that separates growth from contraction. The reading surpassed expectations of 49.5 in a Reuters poll, a stark contrast to a deeper contraction activity seen in the official PMI released on Wednesday. The manufacturing subindexes showed factory output rose at the fastest clip in 11 months while new orders including new exports expanded in May. However, business confidence for the coming 12 months fell to a seven-month low amid concerns over global economic prospects. "Current economic growth lacks internal drive and market entities lack sufficient confidence, highlighting the importance of expanding and restoring demand, " said Wang Zhe, Senior Economist at Caixin Insight Group.
Persons: Zhou Hao, Hang, Wang Zhe, 25bps, Liangping Gao, Joe Cash, Ryan Woo, Sam Holmes, Simon Cameron, Moore Organizations: P Global, PMI, Guotai, CSI, Caixin Insight, ANZ, Thomson Locations: BEIJING, China
Refinitiv data shows foreigners sold $1.71 billion worth of mainland shares this month via Stock Connect, a key cross-border link between the mainland and Hong Kong exchanges, after selling $659 million in April. Despite outflows in February, April and May, foreigners' net purchases of mainland shares still stood at $25.05 billion for the first five months of this year, compared with net buying of about $6.36 billion worth over the whole of 2022. "Foreigners seem to have been selling because of the underwhelming near-term economic data points and, perhaps, because of the opportunities available to investors with a broader (pan-Asia or global) mandate," Pershad said. "We presume other investors have re-allocated some capital from China to those markets (and others) this year." Reporting By Patturaja Murugaboopathy and Gaurav Dogra in Bengaluru; Editing by Vidya Ranganathan & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.
Persons: Pruksa Iamthongthong, Refinitiv, Alexander Davey, Vikas Pershad, Pershad, Patturaja Murugaboopathy, Gaurav Dogra, Vidya Ranganathan, Simon Cameron, Moore Organizations: Stock Connect, Reuters, National Bureau of Statistics, P Global, PMI, Morningstar, Allianz All China Equity WT, HK, HSBC Asset Management, U.S . Federal Reserve, G Investments, Thomson Locations: Hong Kong, China, Morningstar ,, Taiwan, Shanghai, Asia, Bengaluru
In the 2018 animated hit “Spider-Man: Into the Spider-Verse,” Miles Morales, a Brooklyn teenage superhero in development, receives multiple unexpected visits from other dimensions. For the film’s sequel, “Spider-Man: Across the Spider-Verse,” it’s Morales (voiced by Shameik Moore) who must follow Gwen Stacy (Hailee Steinfeld), a version of Spider-Woman, into new realms where other spider people exist. “It’s almost like we’re jumping from one book to another,” Thompson said. Rick Leonardi, who designed the comic “Spider-Man 2099,” came on board to help devise 3-D animation tools that could emulate his line work. And Brian Stelfreeze, a seasoned artist for Marvel Comics, was instrumental in formulating the film’s take on Jessica Drew/Spider-Woman.
Persons: ” Miles Morales, ” it’s Morales, Shameik Moore, Gwen Stacy, Hailee, Joaquim Dos Santos, Kemp Powers, Justin K, Thompson, Miles, Stan Lee, Steve Ditko’s arachnid, , ” Thompson, , Rick Leonardi, Brian Stelfreeze, Jessica Drew Organizations: Marvel Comics Locations: Brooklyn
[1/5] Cast members Issa Rae, Lauren Velez, Shameik Moore, Daniel Kaluuya, Jake Johnson and Hailee Steinfeld attend the premiere for Spider-Man: Across the Spider-Verse in Los Angeles, California, U.S., May 30, 2023. For their sequel to 2018's "Spider-Man: Into the Spider-Verse," they have sought to build new worlds to immerse audiences in a web of animated adventure. The voice cast includes Issa Rae as Spider-Woman, Oscar Isaac as Spider-Man 2099, Daniel Kaluuya as Spider-Punk and Brian Tyree Henry as Miles' father, Jefferson Davis. The pre-pandemic "Spider-Man: Into the Spider-Verse" raked in over $35 million during its first three days of release and went on to win the 2019 Oscar for best animated feature film. Despite some concerns that those box-office-busting days are far from returning, "Spider-Man: Across the Spider-Verse" is forecast to open with $95 to $130 million in the U.S. and Canada.
Persons: Issa Rae, Lauren Velez, Shameik Moore, Daniel Kaluuya, Jake Johnson, Hailee Steinfeld, Mario, Christopher Miller, Phil Lord, Miller, they've, Miles Morales, Gwen Stacy, Brian Michael Bendis, Sara Pichelli, Gwen, Oscar Isaac, Spider, Brian Tyree Henry, Miles, Jefferson Davis, unapologetically, Rae, Henry, Oscar, Andy Warhol, Stephen Hawking, Owen Gleiberman, Danielle Broadway, Rollo Ross, Jorge Garcia, Mary Milliken, Rosalba O'Brien Organizations: REUTERS, Sony, Miles Morales Marvel, Reuters, Rotten, Variety, Thomson Locations: Los Angeles , California, U.S, ANGELES, Los Angeles, Canada
CNN —Bruce Willis’ daughter, Tallulah, has revealed her difficulties coming to terms with her father’s frontotemporal dementia (FTD) diagnosis and shared details about its impact on her family’s life. “I keep flipping between the present and the past when I talk about Bruce: he is, he was, he is, he was. She recalled the first signs of her father’s illness, which the family initially announced was aphasia, a condition that can hinder communication. He had had two babies with my stepmother, Emma Heming Willis, and I thought he’d lost interest in me. Though this couldn’t have been further from the truth, my adolescent brain tortured itself with some faulty math: I’m not beautiful enough for my mother, I’m not interesting enough for my father.”Tallulah Willis is the youngest daughter of Bruce Willis and Demi Moore.
Persons: Bruce Willis ’, , Bruce, I’m, Demi Moore, , Emma Heming Willis, he’d, ” Tallulah Willis, Bruce Willis, Leon Bennett, Tallulah Willis, weren’t, ” Bruce Willis, Angela Weiss Organizations: CNN, Vogue, Mayo Clinic, Getty Locations: Tallulah, Texas
DeSantis bashes Trump as 2024 campaign swing begins
  + stars: | 2023-05-31 | by ( James Oliphant | ) www.reuters.com   time to read: +5 min
Trump, the front-runner in the Republican race, recently assailed DeSantis' handling of the COVID pandemic, when DeSantis resisted federal mask and vaccine mandates. "Ron DeSantis is not a serious person who can take on Joe Biden and bring about the Great American Comeback," Trump campaign spokesman Steven Cheung said in response to DeSantis' remarks. It was little surprise, then, that DeSantis held his initial Iowa event in the auditorium of an evangelical church. DeSantis was introduced by Iowa's Republican governor, Kim Reynolds, and was joined by his wife, Casey DeSantis. The nascent DeSantis campaign has been buttressed by a well-funded Super PAC, Never Back Down, which has taken on many of the day-to-day responsibilities of a presidential effort.
Persons: Ron Desantis, Scott Morgan CLIVE, Ron DeSantis, Donald Trump, DeSantis, bashed Trump, he's, Trump, denigrated DeSantis, Joe Biden, Steven Cheung, politicking, Ted Cruz, Kim Reynolds, Casey DeSantis, Reynolds, Todd Jacklin, James Oliphant, Leslie Adler, Simon Cameron, Moore Organizations: Florida, Republican U.S, REUTERS, Republican, Twitter, Trump, PAC, Liberty, DeSantis, Thomson Locations: West Des Moines , Iowa, U.S, Scott Morgan CLIVE , Iowa, Florida, Iowa, Des Moines, New Hampshire, South Carolina, The Iowa, Johnston , Iowa
India's economy likely gained pace in March quarter
  + stars: | 2023-05-31 | by ( Manoj Kumar | ) www.reuters.com   time to read: +2 min
NEW DELHI, May 31 (Reuters) - India is set to release data on Wednesday that is expected to show the economy grew by 5% in the January-March quarter from a year earlier, accelerating from 4.4% in the previous quarter due to steady urban demand and government spending. Some private economists reckoned growth in the year to March 31 could turn out around 6.8%. During the March quarter, high frequency indicators showed that a rise in urban incomes had boosted sales of expensive cars, Apple mobile phones, and air travel. The performance looks less impressive considering that the economy was still working through the tail-end of the pandemic during the previous year. Modi must call for a national election by early 2024, and there a several more state polls due before then.
Persons: Narendra Modi, Modi, Manoj Kumar, Simon Cameron, Moore Organizations: Reserve Bank of India, Reuters, Apple, Bharatiya Janata Party, Monitoring, Thomson Locations: DELHI, India, Karnataka, Mumbai
Project Veritas is suing its founder and former leader, James O'Keefe. Project Veritas alleges that he violated his employment contract and wooed donors from a confidential list. "Defendant James O'Keefe ("O'Keefe") failed in his duties to Plaintiff, Project Veritas, causing it serious and significant damage." Later that month, O'Keefe founded the O'Keefe Media Organization, which is also a defendant in the lawsuit along with two other Project Veritas employees who assisted with the project. The O'Keefe Media Organization directly competes with Project Veritas — a violation of O'Keefe's employment contract, Project Veritas alleges.
Persons: James O'Keefe, O'Keefe, , Roy Moore, O'Keefe didn't Organizations: Veritas, Service, Project Veritas, Plaintiff, Pfizer, Company, O'Keefe Media Organization, OMG Locations: Washington, New York, Maine
But the dollar and European stocks slipped, dented by uncertainty about whether Congress will approve the deal after a handful of hard-right Republican lawmakers said on Monday they would oppose the bill, though it is expected to pass. The pan European STOXX 600 index (.STOXX) fell 0.2% after recording on Friday its biggest weekly decline in two months. U.S. 10-year bond yields dropped 9.7 basis points to 3.72%, while 30-year yields fell 8 bps to 3.89%. The dollar index , which measures the greenback against six peers, fell 0.26% at 104.03 after rising to a two-month high in earlier trading. Elsewhere, euro zone bond yields fell after Spanish inflation data came in lower than expected, raising hopes that the European Central Bank may raise interest rates less than previously feared.
The package still has to be approved by the Republican-controlled House of Representatives and Democratic-controlled Senate before the debt limit is reached, likely by next Monday. The bond market is implying there is an extreme 70% probability on a U.S. recession in the next year. Australian shares (.AXJO) were down 0.11% while the Nikkei stock index (.N225) rose 0.36%, after the Japanese benchmark hit a 33-year high on optimism over the U.S debt deal and a weaker yen, which helps the country's exporters. Benchmark 10-year yields dropped 6 basis points during Asian trade to 3.7616% while thirty-year yields fell 6.3 bps to 3.9134%. With the debt deal heading to Congress for approval, JB Were analysts said there could be up to $600 billion worth of bill issuance in the next six to eight weeks.
They may not reflect current holdings, as fund managers may have added or sold shares since then. Many investors have piled in to the chipmaker that has quickly become one of the biggest winners of the AI boom. In the previous quarter, Nvidia was not part of GQG's portfolio. Among prominent investors who sold Nvidia's shares before its recent jump is ARK Invest. California Public Employees' Retirement System (CalPERS) sold roughly 1 million shares in Nvidia, but remained with about $1.2 billion in shares in the first quarter.
Persons: Cathie Wood, Carolina Mandl, Megan Davies, Matthew Lewis Organizations: YORK, Nvidia, GQG Partners, Fort, GQG Partners Inc, Nvidia Corp, Tiger Global Management, Wellington Management Group, Moore, ARK, California Public Employees, Carolina, Thomson Locations: U.S, Australia, Fort Lauderdale , Florida, India's, California, New York
NEW YORK, May 29 (Reuters) - Prosecutors urged a Manhattan federal court judge on Monday to deny a request by FTX founder Sam Bankman-Fried to dismiss criminal charges accusing him of stealing billions of dollars from customers to plug losses at his hedge fund. Bankman-Fried, the 31-year-old former cryptocurrency billionaire, has pleaded not guilty to 13 counts of fraud, conspiracy, making illegal campaign contributions and foreign bribery. In a filing late Monday, prosecutors described motions to dismiss the charges as "meritless", rebutting Bankman-Fried's argument that the indictment's allegations were insufficient and legally defective. He has also argued that some of the fraud charges he faces were based on a theory that the U.S. Supreme Court invalidated on May 11. Legal experts have said Bankman-Fried faces long odds of getting the charges tossed, because prosecutors can point to tangible money that his customers lost.
Ozempic and ChatGPT have blown up in the year of the cure-all. As Justine Moore, investment partner at Silicon Valley VC firm a16z, tweeted this month: "By 2025, America is going to run on Ozempic and ChatGPT." CEOs running businesses that have nothing to do with AI are talking about ChatGPT during their quarterly earnings calls. But like Ozempic, AI comes with side effects. Samsung banned its employees from using generative AI tools after finding some of its engineers accidentally leaked internal source code by uploading it to ChatGPT in April.
[1/5] Kami Rita Sherpa, 53, a Nepali Mountaineer who climbed Mount Everest for a record 28 times, poses for a picture at his rented apartment in Kathmandu, Nepal May 28, 2023. REUTERS/Navesh ChitrakarKATHMANDU, May 29 (Reuters) - Kami Rita Sherpa had stood at the top of world just days earlier, exultant at having summited Mount Everest for a record 28th time. The country earned $5.8 million in permit fees - $5 million from Mount Everest alone – during this year's March-May climbing season. Expeditions hiring sherpas must take out life insurance for them, but the pay out is just 1.5 million Nepali rupees (about $11,300). "This should be increased to 5 million rupees (about $38,000)," said Kami Rita, gently rubbing a bruise on his cheek.
Wednesday can now look forward to Championship football next season which had seemed wildly out of reach when they trailed Peterborough 4-0 after the first leg of their semi-final before producing the greatest comeback in English Football League playoff history. In front of 44,000 Wednesday fans crammed into Wembley, Windass emulated his father Dean, whose winning goal for Hull City in the 2008 Championship playoff final helped them win promotion to the Premier League. Wow," Dean Windass told BBC Radio Sheffield. "I've played for a couple of big clubs but look at this, it's unbelievable," Josh Windass told Sky Sports. Reporting by Pearl Josephine Nazare in Bengaluru Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.
HONG KONG, May 29 (Reuters) - A Hong Kong Court on Monday rejected an application to terminate a landmark national security trial against media tycoon Jimmy Lai, a case that could see him spend the rest of his life in prison if convicted. Jimmy Lai, 75, is the founder of now shut pro-democracy newspaper Apple Daily and one of the most prominent Hong Kong critics of China's Communist Party leadership, including President Xi Jinping. Lai and his three companies, Apple Daily Limited, Apple Daily Printing Limited, AD Internet Limited faced a total of three charges under the national security law, including collusion with foreign forces. Beijing imposed the national security law on Hong Kong in 2020 after months of anti-government protests. The security law gives the power of the Chief Executive to select a panel of judges who can hear national security cases.
TipRanks recognized Wall Street's 10 best analysts in the consumer goods sector for identifying the best investment opportunities. TipRanks used its Experts Center tool to identify the pros with a high success rate, and analyzed each stock recommendation made by analysts in the consumer goods sector over the past decade. TipRanks' algorithms calculated the statistical significance of each rating, the analysts' overall success rate and the average return. Top 10 analysts from the consumer goods sectorThe image below shows the most successful Wall Street analysts from the consumer goods sector. Mark Astrachan - Stifel NicolausMark Astrachan has the 10th spot on the list, with a success rate of 65%.
A family has demanded that a Mississippi police officer be fired after shooting an 11-year-old boy who was trying to follow the officer’s orders after calling 911 for help, a lawyer for the boy’s family said. The officer shot the boy, Aderrien Murry, in the chest, resulting in numerous injuries, including a collapsed lung, lacerated liver and fractured ribs, on May 20, said Carlos Moore, a lawyer representing the Murry family. After spending several days in the hospital and intensive care, Aderrien is home and “doing as well as he can be after being shot in the chest,” Mr. Moore said. “Little Mr. Murry came within an inch of losing his life in the wee hours of Saturday morning because of the actions of a cop,” Mr. Moore said at a news conference this week. “He was an unarmed, young Black man who was simply following his mother’s directions.”
For a Better Workout, Trick Your Brain
  + stars: | 2023-05-26 | by ( Connie Chang | ) www.nytimes.com   time to read: +1 min
For example, Milo Bryant, a performance coach in San Diego, uses an exercise grab bag for his group classes. “They’ll draw an exercise from one bag and a rep count from the other and whatever comes up, that’s what they do,” he said. — a cross between a fitness tracker and an episode of “The Last of Us” — take this to a new level. The app Rouvy connects to a smart trainer, which converts your regular bike into a stationary one, for a virtual ride through different city streets around the world. In a recent study, athletes who believed they had received a customized workout plan outperformed those who thought they were following a generic one.
Tucker Carlson was kicked off Fox News ahead of a monologue about January 6, per his biographer. Carlson reportedly planned to talk about Ray Epps, who is falsely accused of sparking the insurrection. Epps is the subject of a false conspiracy theory that he's an FBI plant. Carlson has nonetheless repeatedly promoted the conspiracy theory on his show, as have far-right Republican lawmakers including Sen. Ted Cruz and Reps. Matt Gaetz, Thomas Massie, and Marjorie Taylor Greene. Carlson and Fox News are negotiating the terms of Carlson's exit from the network.
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