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☆ Gabon coup: How France's neo-colonial empire in its former territories is disintegrating
▼ + stars: | 2023-09-01 | by ( Stephanie Busari | ) edition.cnn.com time to read: +10 min

A torn campaign billboard shows ousted Gabon President Ali Bongo Ondimba in Libreville on August 31, 2023. AFP/Getty ImagesPropping up ‘democratic dictators’Whilst the international community has condemned the coup in Gabon, it has not attracted the same vehement criticism that last month’s coup in Niger did. French Prime Minister Elisabeth Borne said France was watching the coup d’etat in Gabon “with the utmost attention.”It presents a challenge to France. Large crowds supporting the coup gathered Sunday near the French military base in Niamey, with demonstrators displaying signs demanding French troops withdraw. “The systems of government that former French colonies have, which were imposed by Paris are no longer fit for purpose.

Persons: Leon, Charles de Gaulle, Gaulle, Bongo, jubilation, General Brice Oligui Nguema –, Bongo’s, Nourredin Bongo Valentin, ”, Ali Bongo Ondimba, ’, Oluwole, Elisabeth Borne, Chris Ogunmodede, that’s, Paul Biya, Ogunmodede, ” Ogunmodede, …, ” Ojewale, “, Ndongo Samba Sylla, Emmanuel Macron, Macron Organizations: CNN, Military, Gabonese, Agence France, Presse, Gabon, Getty, Institute of Security Studies, autocrats, Central African, CFA, Banque de France, “, Macron Locations: Gabon, France, Gabon’s, Libreville, AFP, Niger, Gabonese, West, Central Africa, Mali, Senegal, Dakar, ”, Niamey, Paris, Congo Brazzaville, Equatorial Guinea, Cameroon, Switzerland, Africa, Russia, Commonwealth, Togo, Macron France, Nigeria, “ Africa

Former President Donald Trump pleaded not guilty to criminal charges related to his involvement in a sweeping scheme to overturn the 2020 presidential election results in Georgia and waived his right to appear at an arraignment scheduled for next week. Trump has pleaded not guilty to all charges and denied wrongdoing in all the cases against him. He continues to repeat unfounded claims that the 2020 presidential election was “rigged and stolen” and that the indictments that followed amount to a witch hunt and election interference. In reality, Trump lost the general election to Biden, and, in Georgia specifically, he lost by some 11,779 votes. Trump faces 13 criminal charges in Georgia, the most serious of which is violating the state’s Racketeer Influenced and Corrupt Organizations Act, known as RICO.

Persons: Donald Trump, Fani Willis, Trump, Stormy Daniels, he’s, “, Biden Organizations: Fulton County Superior Court, Trump, District of Columbia, Capitol Locations: Georgia, Fulton County, Atlanta, New York, Florida, District

That’s almost three times what Russia spent on defense in 2021, before its full-scale invasion of Ukraine in February 2022. Those figures are likely to underestimate the total spent on Russia’s war effort. He said that before the war Russia would typically splash around 3-4% of its annual gross domestic product on defense but now it could be anywhere between 8% and 10%. Russia’s exports are still greater than the value of its imports, despite a boost to the latter from the hefty military spending. Rising military spending is, on the other hand, boosting Russia’s industrial output and, with it, GDP.

Persons: London CNN —, Vladimir Putin, Putin, That’s, Richard Connolly, Janis Kluge, Irina Okladnikova, Liam Peach, it’s, Peach, Kluge, “, ”, —, Maksim Konstantinov, Alexandra Suslina, Suslina, Alexandra Prokopenko, Prokopenko, — Anna Cooban, Tim Lister, Olesya Dmitracova Organizations: London CNN, Reuters, Stockholm International Peace Research Institute, Royal United Services Institute for Defence, Security Studies, German Institute for International and Security Affairs, Capital Economics, CNN, “, ZUMA, International Monetary Fund, Carnegie Russia Eurasia Center, International Energy Agency, West Locations: “, Ukraine, Russia, Stockholm, Moscow, “ Russia, Russian, Saint Petersburg, Soviet, Berlin

☆ With Prigozhin dead, Putin has traded low-budget global reach for safety at home
▼ + stars: | 2023-08-26 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +7 min

On Friday, the Kremlin's spokesperson said the idea that Russian President Vladimir Putin was behind the Wednesday plane crash that killed Yevgeny Prigozhin was "a complete lie." It was unavoidable payback for Prigozhin's insubordination, which culminated in a march towards Moscow with a column of his Wagner Group mercenaries. AdvertisementAdvertisementThose files were obtained from anonymous hackers who had pried them loose from the Wagner Group. Russia uses the Wagner Group to boost its military strength, but it is nothing like a conventional fighting force or diplomatic corps. Other reports suggest that the job replacing Wagner in Africa will fall to the GRU, Russia's military intelligence unit.

Persons: Vladimir Putin, Yevgeny Prigozhin, Wagner, Prigozhin, Prigozhin's, he'd, —, Putin, grandiosity, they'd, Alexander Lukashenko, James, Mattathias Schwartz Organizations: Wednesday, Wagner Group, Saint, Kremlin, Group, Central African, YouTube, Google, Wagner, Saint Petersburg, ISIS, Russia, Wall Street Journal, Russia's Ministry of Defence Locations: Moscow, Saint Petersburg, Central African Republic, Russian, Ukraine, East, Africa, Saint, China, Belarus, Russia's

☆ Exclusive: China asks banks to limit some Connect bond outflows
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +3 min

[1/2] Coins and banknotes of China's yuan are seen in this illustration picture taken February 24, 2022. "And it could also drive offshore yuan yields higher to support the renminbi." The southbound leg of the two-year-old Bond Connect scheme allows mainland institutional investors to purchase bonds traded in Hong Kong. Several measures have been aimed at raising the cost of shorting the yuan offshore. China's state-owned banks have taken steps to squeeze yuan this week by mopping up cash from the market, other sources told Reuters earlier this week.

Persons: Florence Lo, Ken Cheung, Vidya Ranganathan, Shri Navaratnam Organizations: REUTERS, Bond, People's Bank of China, Mizuho Bank, Reuters, Shanghai, Thomson Locations: SHANGHAI, BEIJING, Hong Kong, China, outflows, Beijing

☆ Nvidia results burnish AI rally, lift global tech shares
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +3 min

Nvidia's shares rose to $510.14 in premarket trading, set to surpass a record high of $481.87 hit earlier this week. That represents another three-fold increase in the stock's value from current levels. Elsewhere, shares of Taiwan Semiconductor Manufacturing Co (TSMC) (2330.TW), which supplies to Nvidia, rose 2.2%. A lot rested on Nvidia posting strong results, as most of the S&P 500's over 15% year-to-date gains have come from the AI-driven rally in Nvidia and other Big Tech stocks. Investing.com analyst Thomas Monteiro said Nvidia's results validated "the narrative that has been propping tech stocks in general this year."

Persons: Ann Wang, ”, Hargreaves, Sophie Lund, Yates, Elazar, Bernstein, Stacy Rasgon, Ipek Ozkardeskaya, Thomas Monteiro, Susan Mathew, Chavi Mehta, Varun Organizations: REUTERS, Nvidia, Elazar Advisors, Rosenblatt Securities, Devices, Micron Technology, Broadcom, Marvell Technology, Taiwan Semiconductor Manufacturing, ASM International, BE Semiconductor, Aixtron, Swissquote Bank, Big Tech, Thomson Locations: Taipei, Taiwan, Bengaluru

☆ 5 ways to spot a narcissist
▼ + stars: | 2023-08-22 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +6 min

There are three types of narcissists, and they can be distinguished by how they go about feeling special, Malkin said. “Their achievements are better.”Covert narcissists feel special by being seen as the person suffering the greatest misfortune or misunderstanding, he added. Third, there are communal narcissists, who feel special by being seen as the most helpful person in any group. How to evaluate itNeeding to feel special often gets in the way of narcissists nurturing close relationships, Malkin said. • Exploitation, “which is doing whatever it takes no matter the cost to others in order to feel special.”• Entitlement, which is “acting as if the world should bend to their will.”• Empathy impairments, which is “to feel special compared to others.

Persons: Keith Campbell, …, ” Campbell, Craig Malkin, Malkin, “ It’s, ” Malkin, “, ”, you’ve, Covert, “ They’re, Deborah Ashway, ” Ashway Organizations: CNN, University of Georgia, Harvard Medical School Locations: Cambridge , Massachusetts, New Bern , North Carolina

☆ Morning Bid: China sets sombre tone with property turmoil
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Staff/File Photo Acquire Licensing RightsA look at the day ahead in European and global markets from Kevin BucklandChina continues to set the mood for markets, and the tone is unswervingly sombre. Such hopes may have bolstered Chinese property shares in the Asian morning, but the wider markets in China and the rest of the region were gloomy. The Hang Seng Index sank about 0.7%, with mainland Chinese, Japanese and South Korean shares all also down. The People's Bank of China was signalling its intent to shore up the yuan again today, setting the official mid-point a whopping 1,000 pips stronger than the Reuters estimate. And with U.S. benchmark yields heading for pre-financial crisis highs, the yield gap between the two economies is yawning.

Persons: Kevin Buckland China, China Evergrande, Will, Philip Lane, Kevin Buckland, Edmund Klamann Organizations: Silicon Valley Bank, Credit Suisse, REUTERS, Staff, South, People's Bank of, Fed, Bank of England, ECB, Thomson Locations: Frankfurt, Silicon, Germany, China, U.S, People's Bank of China, Will China, Japan, Tokyo, Europe, Asia

☆ Russia's inflation spike sets Kremlin and central bank on collision course
▼ + stars: | 2023-08-17 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

Russia's President Vladimir Putin (L) and Russian Central Bank Governor Elvira Nabiullina Alexei Nikolsky\TASS via Getty ImagesRussia's rising inflation and plunging currency have spotlighted an emerging discord between the Kremlin and the country's central bank. Analysts suggested the government's direct strong-arming of the central bank into monetary policy action was a sign of the problems faced by the country's economy. In other words, the Russian currency has entered a vicious circle that it will struggle to escape from." This is because the negative factors behind the weakening currency are largely outside the control of the Central Bank of Russia." She added that blaming the central bank has therefore become an "easy tactic" for the Kremlin in the absence of any tangible options through which to improve the situation.

Persons: Vladimir Putin, Russian Central Bank Governor Elvira Nabiullina Alexei Nikolsky, Vladimir Putin's, Maxim Oreshkin, Anatoly Aksakov, Agathe Demarais, Demarais, Stephanie Kennedy, Julius Baer, Kennedy Organizations: Russian Central Bank Governor, Getty, Kremlin, Central Bank of Russia, Bank, Bank of Russia, Financial, Bank of, Economist Intelligence Unit, CNBC, CBR, U.S . Locations: Russia, Bank of Russia, Ukraine

☆ China's economic model is 'washed up on the beach' and it's not going to bounce back, veteran investor says
▼ + stars: | 2023-08-17 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Veteran investor David Roche told CNBC that China's economic model is "washed up on the beach." He doesn't anticipate it to bounce back as it deals with deflation, slowing growth, and other economic snags. He noted that China's economy has a "huge number of legacy holes in it." Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The troubled property market helps explain China's weak second-quarter GDP, which came in below expectations at 6.3%.

Persons: David Roche, it's, " Roche, CNBC's, they're, Roche Organizations: CNBC, Service, Independent, National Bureau of Statistics, People's Bank of, Country Garden Holdings Locations: Wall, Silicon, China, People's Bank of China

☆ CNBC Daily Open: There’s a new narrative in markets
▼ + stars: | 2023-08-14 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Losing week for stocksU.S. stocks were mixed Friday, with the Dow Jones Industrial Average the only major index to eke out a gain. On a year-over-year basis, the producer price index was up 0.8%. The PPI tends to reflect price changes before they filter into the consumer price index, so this could dampen the enthusiasm over July's cooler-than-expected CPI.

Persons: Europe's, That's, SBF FTX, Sam Bankman, Fried, Coraline Ellison, Leswing, Kate Spade, They'll Organizations: CNBC, Dow Jones, SBF, New York Times, Nvidia, TJX Locations: U.S

☆ Inflation may be cooling — but drivers can’t seem to catch a break
▼ + stars: | 2023-08-12 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +9 min

Another hefty expense is car insurance, up 17.8% from a year ago. Car repairs and car insurance were the second- and third-largest annual price increases, respectively, tracked by the CPI. Paul Baxter, a mechanic who owns Bullet Proof Off-Road & Auto, a car repair shop in Mesa, Arizona, said he’s paying 30% more for car parts compared to before the pandemic. To keep the lights on, he marks up car parts he sells to customers by 20% to 30%, he told CNN. Paul Baxter, who opened his auto shop in 2016, has had to raise prices due to the rising cost of car parts.

Persons: there’s, Hunter Scott, Scott, ” Scott, they’re, Pam Franks, “, haven’t, ” Franks, Roszell, Kristin Brocoff, hasn’t, CarMD, Paul Baxter, Baxter hasn’t, Paul Baxter Baxter, Baxter, who’s, ”, Ted Canty, Canty, he’s, we’re Organizations: New, New York CNN, Navy, Craigslist, Metro, CNN, Bureau of Labor Statistics, CPI, Farm, Toyota, state’s Department of Insurance, P Global, Auto, FedEx, Social Security, Volkswagen, Security Locations: New York, Arlington , Virginia, Washington , DC, Washington, DC, skyrocket, Louisiana, Pineville , Louisiana, United States, Mesa , Arizona, Wimauma , Florida

☆ The US housing market hits a record value of $47 trillion as the inventory shortage fuels a price boom
▼ + stars: | 2023-08-11 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

The US housing market just reached a new all-time high valuation of $47 trillion, Redfin reported. Low inventory has pushed up home values, according to a Redfin analysis of 90 million US residences. The report said a shortage of homes has been propping up housing values, based on a Redfin estimate on more than 90 million US residential properties. Notably, the housing market has now offset the $2.9 trillion decrease in value that happened between June 2022 and February 2023 as a result of rising mortgage rates. "The dominance of the 30-year fixed rate mortgage in America is propping up home values," Redfin economist Chen Zhao said.

Persons: Redfin, Chen Zhao, they're, That's, Zhao Organizations: Service Locations: Wall, Silicon, America, Los Angeles, U.S

☆ Ralph Lauren posts surprise rise in quarterly sales
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +1 min

A security guard stands outside the Ralph Lauren store during the outbreak of the coronavirus disease (COVID-19), in Beverly Hills, California, U.S., July 30, 2020. REUTERS/Mario AnzuoniAug 10 (Reuters) - Ralph Lauren (RL.N) reported a surprise rise in quarterly revenue on Thursday, as demand for its high-end sweaters, shirts and outdoor clothing saw a strong rebound in China, offsetting a slowdown in luxury spending in the United States. Luxury brands have seen a pick-up in China demand as the market reopens from COVID-19 curbs, propping up sales at several high-end labels at a time when U.S. demand has cooled. Net revenue rose to $1.50 billion in the first quarter, from $1.49 billion a year earlier. Reporting by Deborah Sophia in Bengaluru; Editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

Persons: Ralph Lauren, Mario Anzuoni, RL.N, Ralph Lauren's, Jane Hali, Deborah Sophia, Milla Nissi Organizations: REUTERS, Associates, Thomson Locations: Beverly Hills , California, U.S, China, United States, COVID, Asia, Bengaluru

☆ Niger’s coup leader faces a deadline to cede power. Will military action come next?
▼ + stars: | 2023-08-06 | by ( Stephanie Busari | ) edition.cnn.com time to read: +6 min

CNN —The leaders of a coup in Niger are digging in their heels as they face a looming deadline from neighbors to give up power or face possible military action. President Bazoum’s election win in 2021 marked a relatively peaceful transfer of power, capping years of military coups following Niger’s independence from France in 1960. ECOWAS has shown a willingness to take action in cases where leaders refuse to relinquish power or when political crises escalate. The US and France consider Niger a critical ally and both countries have military bases in Niger. That kind of sentiment suggests that even if the stated goal is to restore democracy, a military intervention may not be welcomed across the country.

Persons: Mohamed Bazoum, “, Bazoum’s, Bazoum, Abdourahamane Tiani, Bola Tinubu, Tinubu, Security Abdel, Fatau Musah, Oluseyi, ” Adetayo, Jammeh, Nigeriens, Russia, Wagner, ” Ali Sounama Organizations: CNN, Regional, Economic, West African States, Nigerien, The Washington Post, ECOWAS, Local, Political Affairs, Peace, Security Locations: Niger, Sahel, Mali, Burkina Faso, France, Nigeria, Senegal, Bazoum, Gambia, Sierra Leone, Liberia, West Africa, Niamey, Nigerien

☆ Mountains are collapsing: A Swiss mountain peak fell apart, sending 3.5 million cubic feet of rock into the valley below. Scientists warn climate change could make more mountains crumble.
▼ + stars: | 2023-08-05 | by ( Emily Swaim | ) www.businessinsider.com time to read: +7 min

Across the world, mountains with permafrost melt have shown larger and more frequent landslides, the Intergovernmental Panel on Climate Change reported. Sean Gallup / Staff / Getty ImagesBut warming temperatures due to climate change affect more than permafrost. "As mountains get smaller, they reduce pressure on the surrounding slopes, and this is often the trigger for mass movements," Knight said. Climate change puts their lives in danger from mudslides, landslides, rockfalls, and more. The futureAs climate change accelerates, mountain environments change more quickly, as well.

Persons: Fluchthorn, Jasper Knight, that's, Knight, Sean Gallup, SIERRA, Alejandro Argumedo, Tammy Stenner, Stenner, Argumedo, Frédéric Soltan, they're Organizations: Swiss, Service, University of Witwatersrand, Research, rockfalls, Staff, Mount Cook National, South America Locations: Austrian, Southern, New Zealand, Mt, Fluchthorn, Austria, Switzerland, South Africa, South Island , New Zealand, South, ANDES, Peru, Yunnan, China, Peru's, Peruvian

☆ Euro zone inflation falls further in comforting sign for ECB
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, July 31 (Reuters) - Euro zone inflation fell further in July and most measures of underlying price growth also eased, in a largely comforting sign for the European Central Bank (ECB) as it considers ending its severe run of interest rate hikes. Consumer prices grew by 5.3% this month versus 5.5% in June, extending a downtrend that started in the autumn. "Services inflation is the area where monetary policy should have the greatest influence because it reflects domestic demand," Dirk Schumacher, an economist at Natixis said. Hawks could also point at hard data about growth, which showed the euro zone returned to growth in the second quarter of 2023 despite negative sentiment and activity polls. The weak survey data has continued to come in in recent days, fuelling talk of a recession in the euro area that the ECB is still hoping to avoid.

Persons: Frederik Ducrozet, Christine Lagarde, Dirk Schumacher, Natixis, Francesco Canepa, Peter Graff Organizations: European Central Bank, Pictet Wealth Management, ECB, Oxford, Thomson Locations: FRANKFURT

☆ Why New York AG Letitia James is probably Trump's biggest worry right now (not Jack Smith, Fani Willis or Alvin Bragg)
▼ + stars: | 2023-07-29 | by ( Laura Italiano | ) www.businessinsider.com time to read: +9 min

In three months, Trump faces a civil fraud trial that could run his Trump Organization out of New York. There's Jack, and Fani, and Alvin, of course, all poised to prosecute the former president criminally. And Donald Trump, Donald Trump, Jr., Ivanka Trump, and Eric Trump would further be banned from ever running a business anywhere in the state. The financial and psychic toll to being a mogul in exile would be great, two Trump biographers told Insider. Smith appears on the brink of winning a new indictment, relating to the 2020 election, as does District Attorney Fani Willis in Atlanta.

Persons: Trump, Donald Trump's, There's Jack, Alvin, there's, —, Letitia James —, James, Donald Trump, Donald Trump , Jr, Ivanka Trump, Eric Trump, crowing, Michael D'Antonio, he's, D'Antonio, Alvin Bragg's, Jack Smith's Mar, Smith, Fani Willis, Chris Christie, David Aaron, Aaron, Perkins Coie, Aileen Cannon, Ira Judelson, Dominique Strauss, Kahn, Arthur Engoron, New York —, Nobody, Gwen Blair, Blair, he'll Organizations: Trump Organization, Service, — New York, Trump, New, Republican, Manhattan, Mar Locations: New York, Manhattan, Wall, Silicon, New Yorker, Florida, Atlanta, New Jersey, Washington, DC, Mar, Delaware, Trump Org's, York, Queens, Emerald City, Miami, Bedminster , New Jersey, New York City

☆ Wind and solar are propping up the Texas power grid amid a brutally long heat wave
▼ + stars: | 2023-07-28 | by ( Ella Nilsen | ) edition.cnn.com time to read: +4 min

Thank wind and solar, energy experts say. “The thermal plants have bounced up and down,” Lewin told CNN, saying thermal plant outages during heatwaves have been high by Texas grid manager ERCOT’s own standards. The state is also rapidly installing battery storage, to store wind and solar energy when the sun isn’t shining and wind isn’t blowing. “I think what they’re leaving out is the intermittency of the thermal plants, they continue to neglect that,” Lewin said. That’s not to say renewables are a panacea, but the point is thermal plants are also not a panacea.”

Persons: ” Michael Webber, “, Doug Lewin, Webber, ” Lewin, ERCOT’s, Mark Felix, ”, ERCOT, Lewin, that’s Organizations: CNN, Texas, “ Renewables, University of Texas, Energy Information Administration, Renewables, Energy, US Energy Information Administration, Lone Star Locations: Austin, Texas, Hill County , Texas, AFP, Gulf of Mexico

The yuan firmed by more than 0.5% in both the onshore and offshore markets as investors cheered comments at the closely watched Politburo meeting, though many were still seeking specific details on greater stimulus measures. The yuan traded offshore was last at 7.1444 per dollar and in the onshore market it was at 7.1454 per dollar. Also propping up the yuan were China's major state-owned banks selling U.S. dollars to buy yuan in both onshore and offshore spot markets on Tuesday, sources told Reuters. The positive sentiment from China lifted the Australian dollar, often used as a liquid proxy for the yuan, which rose 0.4% to $0.6767. In Europe, the pound rose 0.22% to $1.2854, its first day of gains after seven straight sessions of losses, its longest such streak since March 2020.

Persons: Tommy Xie, Guillermo Felices, Ueda, Aninda Mitra, Rae Wee, Alun John, Shri Navaratnam, Lincoln, Christina Fincher Organizations: Reuters, European Central Bank, Federal Reserve, Bank of Japan, BNY Mellon Investment Management, Thomson Locations: SINGAPORE, LONDON, China, Europe, Asia, Singapore, London

☆ The US economy is weakening as YOLO spenders pull back from 'fun and games,' economist David Rosenberg says
▼ + stars: | 2023-07-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Consumers that are eager to spend are starting to pull back on "fun and games," economist David Rosenberg said. That spells trouble for the economy, as these so-called YOLO spenders have propped up growth. So-called "fun and games" spending has softened in areas outside of cruise lines and air travel, Rosenberg said, which likely spells trouble for the economy in the coming months. Though GDP grew in the second quarter, real gross domestic income has already fallen into a recession, Rosenberg said, with the measure shrinking over the last two quarters. Markets have been fretting over a potential recession for the past year, as the Fed aggressively hiked interest rates to control inflation.

Persons: David Rosenberg, " Rosenberg, Rosenberg Organizations: Service, CNBC, Fed Locations: Wall, Silicon, YOLO

It was a paid ad by a group of high-tech companies protesting against Netanyahu's judicial policies, which analysts say have unleashed a slew of risks, both for Israel's economy and for his own political future. Israel's shekel moved on every twist and turn in parliament as efforts to reach a judicial compromise intensified and finally crashed. For now, Israel's economy is relatively robust, with growth forecast at 3% this year and unemployment at a 3.5% rate. Even if Netanyahu chooses to scrap plans for further judicial changes, damage will be hard to fix. The tech sector has a lot to lose if more controversial judicial changes come because firms need a trusted legal system to protect their intellectual property.

Persons: Netanyahu, Moody's, Benjamin Netanyahu, Israel's shekel, Morgan Stanley, Itzchak Raz, Netanyahu's, They're, Raz, Avi Hasson, Nicholas Farr, Amir Yaron, Amotz Asa, Asa, Shalom Hartman, Maayan Lubell, William Maclean Organizations: Government, Hebrew University, Israel Innovation Authority, Nation Central, Capital Economics, Analysts, Bank, Thomson Locations: JERUSALEM, Israel, Jerusalem

☆ Why are far-right parties on the march across Europe?
▼ + stars: | 2023-07-22 | by ( Christian Edwards | ) edition.cnn.com time to read: +14 min

Far-right parties are propping up coalitions in Finland and Sweden. Afraid of losing voters to UKIP (and other far-right parties), the governing Conservatives ended up adopting many of its positions. Chesnot/Getty Images Europe/Getty ImagesConversely, far-right parties have attempted to sanitize some of their rhetoric, hoping to appear a more credible electoral prospect. Leon Neal/Getty ImagesA different type of populismAnd so the recent successes of far-right parties cannot be explained by dramatic shifts in public opinion. A lot depends on the ability of mainstream parties – particularly on the left – to build tents big enough to accommodate their differences, rather than compromising with far-right parties to prop up their coalitions.

Persons: Donald Trump, –, Emmanuel Macron, Angela Merkel’s, Mario Draghi, Jaroslaw Kaczynski, Viktor Orban, Andrej Babis, Czech Michael Bloomberg, Czech Donald Trump, Meloni, Mussolini, Nigel Farage, Jack Taylor, Farage, Jean, Marie Le Pen, Marine, Lionel Jospin, Jacques Chirac, Petteri Orpo, Sanna Marin, Vilhelm Junnila, Ulif Kristersson, Mark Rutte’s, Pen, Chesnot, Philippe Marlier, ” Le, Matteo Salvini, Vladimir Putin, Tino Chrupalla, Alice Weidel, Thomas Lohnes, Omer Messinger, Larry Bartels, Boris Johnson, Leon Neal, Giorgia Meloni, Odd Andersen, Orban, Kaczynski, Rutte’s, Pedro Sanchez Organizations: CNN, White, Channel, European Central Bank, Italy’s, Vox, UK Independence Party, UKIP, European Union, EU, Conservatives, National, Socialist, Socialists, Finns Party, Swedish, Sweden Democrats, Rassemblement National, University College London, Lega, Ukraine, Russia, Former British, Italy's, NATO, Getty, Spain’s Locations: United Kingdom, United States, Europe, Brussels, Spain, Poland, Hungary, Germany, Czech, France, Finland, Sweden, Austria, European, Netherlands, Russian, Oxfordshire, Vilnius

☆ Morning Bid: Markets shrug off upbeat news from Japan and China
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

With a Reuters poll pointing to a sharp slowing in Tokyo's core CPI for July next week, Bank of Japan Governor Kazuo Ueda is likely to remain confident about sticking to Japan's ultra-easy policy settings next Friday, keeping the yen on the back foot. China's latest efforts to boost consumption provided a small lift to mainland stocks, but markets continue to look ahead to the Politburo meeting, expected next week, for bigger stimulus announcements. The piecemeal measures unveiled so far suggest there's plenty of scope for disappointment. Where Beijing seems to be having greater impact is in propping up the Chinese yuan , which was holding the bulk of Thursday's gains after another stronger-than-forecast midpoint setting on Friday. A sharp drop in the July GfK consumer confidence gauge, which came in below the lowest Reuters poll forecast, suggests sentiment remains downbeat after what's expected to be a weaker UK retail sales reading for June.

Persons: Sonali Desai, Kazuo Ueda, Edmund Klamann Organizations: Netflix, Bank of Japan, U.S . Federal Reserve, European Central Bank, Reuters, Thales SA, Bank, American Express, Schlumberger NV, Thomson Locations: Asia, Japan, U.S, Beijing, propping

☆ Governments in China Are Propping Up Hong Kong’s Ailing IPO Market
▼ + stars: | 2023-07-20 | by ( Dave Sebastian | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

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