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☆ Syria's Assad to attend Arab summit, bringing regional isolation to an end
▼ + stars: | 2023-05-19 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +4 min

[1/2] Syria's President Bashar al-Assad arrives to attend the Arab League Summit in Jeddah, Saudi Arabia, May 18, 2023. Assad is expected to address the summit later on Friday, along with other Arab leaders. At an Arab summit hosted by Qatar a decade ago, the Syrian opposition sat in Syria's seat. A bipartisan group of U.S. lawmakers introduced a bill last week intended to bar U.S. recognition of Assad as Syria's president and enhance Washington's ability to impose sanctions. Government forces have used chemical weapons more than two dozen times during Syria's civil war, U.N. war crimes investigators said.

☆ Syria's Assad to attend Arab summit, bringing isolation to an end
▼ + stars: | 2023-05-19 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +3 min

Ostracised by most Arab states following the crackdown on protests against his rule in 2011 and the ensuing civil war that killed 350,000 people, his government's readmission to the bloc is a signal that Assad's isolation is ending. Assad is expected to address the summit later on Friday, along with other Arab leaders. A bipartisan group of U.S. lawmakers introduced a bill last week intended to bar U.S. recognition of Assad as Syria's president and enhance Washington's ability to impose sanctions. Government forces have used chemical weapons more than two dozen times during Syria’s civil war, U.N. war crimes investigators said. While Arab countries appear to have brought Assad in from the cold, they are still demanding that he curbs Syria's flourishing drugs trade and that war refugees be allowed to return.

RAAs create frameworks to facilitate military cooperation, such as making the entry of foreign personnel and equipment easier for the visiting force. France's Defence Minister Sebastien Lecornu said last monththat Paris was hoping to agree RAAs with Japan, enabling the two sides to strengthen their military operability and exchanges. Japan and France have already held numerous joint military exercises over the past few years bilaterally and also as part of a wider group. After signing defence cooperation deals with Canberra and London, Japan could next sign one with the Philippines. The agreements are expected to allow for faster deployment of armed forces in joint military exercises and in the event of natural disasters.

☆ Tech pushes Nasdaq higher, dollar climbs on solid data, debt ceiling progress
▼ + stars: | 2023-05-18 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Investors were closely monitoring the debt ceiling negotiations in Washington for signs that Democrats and Republicans might be inching closer to a deal. Optimism about debt ceiling talks ebbed and flowed, with hopes for a deal that avoids a catastrophic default. European stocks closed higher and the German DAX rose to its highest level since January 2022 on optimism about the U.S. debt ceiling talks. The greenback extended its ascent against a basket of world currencies, reaching a seven-week high, powered by the economic data and debt ceiling hopes. Gold moved in opposition to the dollar, with the precious metal losing some luster as the economic data lowered the likelihood of a Fed rate cut before year-end.

☆ Asian stocks follow Wall Street higher amid debt ceiling optimism
▼ + stars: | 2023-05-18 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

As investors drew comfort from that reassurance, MSCI's broadest index of Asia-Pacific shares (.MIAP00000PUS) pushed 0.78% higher. "Markets have chosen to be optimistic," Rodrigo Catril, senior FX strategist at National Australia Bank, wrote in a client note. Any advance above 30,795.78 would take it to the highest since 1990, when Japan's bubble economy had still to burst. Long-term U.S. Treasury yields eased back in Tokyo after rising to the highest since March 1 at 3.589% in New York. Against the Japanese currency, the dollar surged the most in three weeks to 137.72 yen , just 0.06 yen below its highest since March 8.

☆ These are the top 10 holdings of Berkshire Hathaway's $325 billion stock portfolio
▼ + stars: | 2023-05-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

These are the top 10 stocks held in Berkshire Hathaway's $325 billion stock portfolio as of March 31. With various portfolio changes in the first quarter of the year, Berkshire Hathaway's top 10 holdings of US stocks has shifted, though Apple still represents a near 50% of the portfolio. In fact, the top 10 positions in Berkshire Hathaway's portfolio make up a massive 90.2% of its entire portfolio. These are the top 10 stocks held in Berkshire Hathaway's $325 billion US stock portfolio as of March 31. American ExpressCredit cards fill a display at American Express headquarters John Moore/Getty ImagesTicker: AXPPosition: $25.0 billionPercent of portfolio: 7.7%2.

☆ Some of the Books That Hernan Diaz Owns Surprise Even Him
▼ + stars: | 2023-05-18 | by ( ) www.nytimes.com time to read: +3 min

Scott, Deborah Eisenberg, Paul Yoon, Ottessa Moshfegh, Michael Ondaatje, Louise Erdrich, Colson Whitehead, Sigrid Nunez, Jean Strouse, Lorrie Moore. The novel contains four different books, written by different fictional authors in disparate genres and styles. “Trust” closes with a personal diary that is also a sort of a prose poem and a love letter to modernism. While writing this, I read and revisited authors as different as Jean Rhys, Ludwig Wittgenstein, Virginia Woolf, Sylvia Townsend Warner, Dawn Powell, Theodor Adorno and Gertrude Stein. Wodehouse section of my library and can report that I’ve read 29 of his books.

XIAN, China, May 17 - China will for the first time host an in-person summit of central Asian leaders this week, seeking to cement ties in a region seen as Russia's backyard as its relations with the West sour. "Beijing wants to promote a new alternative to the global order, and try to persuade the Central Asian region that this new global order is better for them too," said Adina Masalbekova, a research fellow at the OSCE Academy in Bishkek. For the first in-person summit, Xian is a symbolic nod to the importance of economic ties as the city was pivotal in the ancient Silk Road trade route that spans Central Asia. "One of the biggest trump cards that we expect to see at this summit is a serious opening for Central Asian products to enter the Chinese market. But with the region's main backer Russia caught up in a grinding war with Ukraine and subject to international sanctions, analysts say the Central Asian states will welcome Beijing's overtures.

☆ Kassa Overall Knows Artists Feel Pressure. His New Album Explores It.
▼ + stars: | 2023-05-17 | by ( Marcus J. Moore | ) www.nytimes.com time to read: +1 min

On a cloudy afternoon, the drummer Kassa Overall strolled past his first New York City apartment, a second-floor room in a Fort Greene brownstone. He had moved to Brooklyn after graduating from Oberlin in 2006 to play in the local jazz scene while improving his chops as a beatmaker. Overall flew back to his native Seattle and wondered what was next. “I went from being a touring musician and always having extra income to barely having enough,” he said over lunch, opening up about his hard times without any apprehension. “I felt like I wasn’t as successful as it felt like I was on the internet.”

☆ Aid groups seek green light from Myanmar junta to access cyclone-hit state
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +3 min

[1/2] A view of the damage caused by Cyclone Mocha in Sittwe, Myanmar in this handout image released May 17, 2023. The U.N. Development Programme, the U.N. Children's Fund (UNICEF) and U.N. refugee agency UNHCR also said their requests were pending approval. "It is important for humanitarian actors to ascertain damage, needs and provide immediate lifesaving assistance, not least as the monsoon season nears," UNHCR spokesperson Reuben Lim Wende said. State media on Wednesday said junta leader Min Aung Hlaing had visited affected areas in Bagan, another region, and separately met with a UNHCR representative to discuss relief efforts. About 5.4 million people were expected to have been in the storm's path, the majority of whom were considered vulnerable.

☆ Pale Male, Famous Central Park Hawk, Is Dead at 32. Maybe.
▼ + stars: | 2023-05-17 | by ( Dodai Stewart | ) www.nytimes.com time to read: +1 min

“I’m sorry to have to report the end of an era,” Bobby Horvath, a wildlife rehabilitation specialist, wrote on Facebook Tuesday night. “Pale Male passed away tonight in our care.”Pale Male, a red-tailed hawk who took up residence on the ledge of a ritzy Manhattan apartment building 30 years ago, was the subject of hundreds of newspaper articles, at least three books and an award-winning documentary film and also counted Mary Tyler Moore among his fans. But whether the bird Mr. Horvath declared dead was actually Pale Male remains a mystery. Pale Male, an apex predator living in the most populated city in the United States, was the original New York City celebrity bird, predating Barry the barred owl, the “hot” Mandarin duck and Flaco the eagle-owl. He was named for his light-colored feathers by birder and author Marie Winn, a longtime columnist for The Wall Street Journal who followed his progress in print for over a decade and penned a book about him, “Red-Tails in Love,” making him something of a local celebrity.

☆ Color of Change, pioneering racial-justice nonprofit, is plagued by allegations of sexual assault and bullying, ineffective leadership, and deep layoffs say sources
▼ + stars: | 2023-05-17 | by ( Sean Campbell | ) www.businessinsider.com time to read: +16 min

Misconduct by senior leadership was often ignored or glossed over, and choas led to high turnover. But behind the scenes, some staff members say the organization has been wracked with internal turmoil, ineffective leadership, and deep layoffs. Many sources said allegations of misconduct by senior leadership seemed to be ignored or glossed over, and a chaotic environment led to high turnover. The following day, Color of Change eliminated another 12 positions, and again, many of them were part of the union. (Color of Change did not report executive salaries on its 2020 tax filings and has not released its 2021 returns.)

But, given the hopes invested in China's economic growth and liberalisation, foreign firms' demand for expert knowledge about the Chinese market, the regulatory landscape, potential business partners and opportunities will inevitably keep growing. Smaller firms saw opportunity to fill the space left by any rivals, like Capvision, that fall foul of China's authorities. China's expert network market, however, will suffer from bad publicity in the short-term, as "no one wants to be associated with police crackdown," said Max Friberg, CEO of Inex One, a Stockholm-based marketplace connecting investors with expert networks. For now though, the trade in expert information clearly has become more cautious. "It's unfortunate that the expert network business gets into the public limelight in such a way," China Insights Consultancy (CIC), the country's second largest expert network company, said in a statement to Reuters.

☆ Staff for a 95-year-old federal judge say she is "losing it, mentally" and talking to a dead colleague
▼ + stars: | 2023-05-17 | by ( Jack Newsham | ) www.businessinsider.com time to read: +4 min

Judge Pauline Newman says her fellow appeals judges are trying to force her off the Federal Circuit. She claims she's been "hacked" when she can't find a file or email, the decision quoted staff saying. Her peers say Judge Newman has slowed downOver the years, Judge Newman has established a reputation as a prolific dissenter, frequently and openly disagreeing with her colleagues on issues of patent law. The typical federal judge last year was 68 years old. The judges investigating Newman said allegations about her interactions with staff weren't the only thing that needed to be evaluated.

TOKYO, May 17 (Reuters) - Rich nations should boost financial and technical support to poorer countries to help them tackle climate change and achieve similar decarbonisation goals, a senior Japanese environment ministry official said ahead of a G7 summit in Hiroshima. Developed countries promised in 2009 to transfer $100 billion annually between 2020 and 2025 to vulnerable states hit by increasingly severe climate-linked impacts and disasters - but that target was never met. G7 energy and climate ministers discussed how to meet that goal when they met in the Japanese city of Sapporo last month. "All countries should follow the good example of Japan so that we could achieve the $100 billion goal," he said, adding that he hoped that the level would be achieved as soon as possible and maintained through 2025. Developing countries say they need far more support than that from the rich nations, who are responsible for most of the greenhouse gas emissions, otherwise they cannot afford to cut CO2 emissions.

☆ Philippine c.bank to hold rates at 6.25% in May after nine straight increases - Reuters poll
▼ + stars: | 2023-05-16 | by ( Devayani Sathyan | ) www.reuters.com time to read: +2 min

Sixteen out 22 economists polled by Reuters between May 9-15 expected the BSP to leave its overnight borrowing rate (PHCBIR=ECI) at 6.25% at the meeting on Thursday. "Policymakers should be comforted by the pullback in inflation prints since February, with downward revisions to inflation forecasts potentially on the cards. Among economists who had a long-term view, 11 of 19 expected the BSP to maintain rates at 6.25% until end-June. Of the remaining eight economists, seven predicted rates to be at 6.50% or higher by then, while one forecast a 25 basis points cut to 6.00%. Median forecasts showed rates would remain at 6.25% at least until the end of the year.

Wells Fargo has operated since 2018 under consent orders from the Federal Reserve and two other financial regulators requiring that it improve governance and oversight. The San Francisco-based bank denied wrongdoing, and settled to eliminate the burden and cost of litigation, court papers show. "While we disagree with the allegations in this case, we are pleased to have resolved this matter," Wells Fargo said in a statement on Tuesday. Wells Fargo has since 2016 paid or set aside several billion dollars to resolve regulatory probes and litigation over its business practices. The case is In re Wells Fargo & Co Securities Litigation, U.S. District Court, Southern District of New York, No.

☆ Asian hedge funds piled to China education, U.S. AI shares in Q1
▼ + stars: | 2023-05-16 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

Investors poured money into private tutoring leaders, including New Oriental and TAL Education (TAL.N), that have come through a near two-year crackdown in China on after-school education. Greenwoods also built a new position in TAL Education by acquiring 2.2 million shares. The fund run by ex-Alibaba CTO John Wu bought 2.1 million more shares to boost its stake in the tutoring giant. Share prices of both New Oriental and TAL collapsed over 90% from its peak after Beijing’s ban on K-12 private tutoring. The price of two stocks have doubled from the low point in October after China dropped its strict controls against COVID-19.

☆ Elon Musk Picks NBCU’s Linda Yaccarino to Lead Twitter. Here’s Why
▼ + stars: | 2023-05-16 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Title 42: What Its End Means for Immigration and the Southern Border Title 42, which allowed U.S. authorities to quickly expel migrants on public health grounds, expired on May 11. WSJ’s Alicia A. Caldwell explains what the policy is, its effect on the border and what comes next. Photo: John Moore/Getty Images

☆ Stashing cash: 71% of Americans are setting more money aside amid recession fears, new report finds
▼ + stars: | 2023-05-16 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Renewed fears of a possible recession have spurred more households to adjust their spending habits — finally. Broadly, Americans are cutting back, particularly on discretionary purchases, and saving more, according to recent reports on the state of the consumer by the Bank of America Institute and Deloitte. Now, 71% of Americans are likely to keep cash on hand, according to a new Country Financial security index. Other consumers are driving less to save on gas or canceling some streaming services. Even as Americans are more likely to keep cash on hand, most said they don't know the best ways to save to reach their short- or long-term savings goals, according to Country Financial.

☆ Marijuana harms development in first trimester of pregnancy
▼ + stars: | 2023-05-16 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +6 min

“Low birth weight is one of the strongest predictors of a child’s health and development long-term,” she said. “What we are telling women is that it’s not an absolute certainty that your baby’s growth will be impacted if you are using marijuana. “My advice to women is to avoid using marijuana at all during pregnancy and if possible stop using prior to becoming pregnant,” Bailey said. Marijuana use can harm fetal development in the first trimester, a time when many people may not know they are pregnant. Prior research has “pretty well established” that smoking cigarettes during pregnancy has a bigger impact on birth weight than exposure to marijuana,” Bailey said.

☆ Avedon at 100: Celebrities select the famed photographer’s best works
▼ + stars: | 2023-05-15 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +9 min

courtesy Richard Avedon/The Richard Avedon FoundationWhen Hillary Clinton, then a US Senator, arrived for a shoot with Avedon in 2003, she recalled him looking at her and saying, "I've seen this image before." courtesy Richard Avedon/The Richard Avedon FoundationFashion designer Miuccia Prada selected this image of Boyd Fortin, a teenaged rattlesnake skinner from Texas, taken in 1979. courtesy Richard Avedon/The Richard Avedon FoundationFashion designer Calvin Klein selected this infamous campaign image from his label's archives. courtesy Richard Avedon/The Richard Avedon FoundationFilmmaker Sofia Coppola chose this iconic 1958 photograph of model China Machado. courtesy Richard Avedon/The Richard Avedon Foundation“Avedon 100” is on view at Gagosian in New York through June 24.

☆ Top Chinese envoy to visit Ukraine, Russia on 'peace' mission
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +3 min

BEIJING, May 15 (Reuters) - A top Chinese envoy will begin a tour of Ukraine, Russia and other European cities on Monday in a trip Beijing says is aimed at discussing a "political settlement" to the Ukraine crisis. "The visit ... is a testament to China's efforts towards promoting peace talks, and fully demonstrates China's firm commitment to peace," foreign ministry spokesperson Wang Wenbin said at a daily briefing. He is the most senior Chinese official to visit Ukraine since Russia invaded in February 2022, and his trip could coincide with the beginnings of a long anticipated counteroffensive by Ukraine to recapture territory seized by Russia. Ukraine is scheduled to be Li's first stop on his trip, according to two sources familiar with the matter. The visit comes weeks after Chinese President Xi Jinping held a phone call with his Ukrainian counterpart Volodymyr Zelenskiy in late April, in the first talks between the two leaders since the war began.

☆ End of Title 42 immigration policy has brought fewer migrants than expected, but overcrowding concerns remain
▼ + stars: | 2023-05-14 | by ( Nouran Salahieh | ) edition.cnn.com time to read: +14 min

David Peinado Romero/Anadolu Agency/Getty Images Migrants carry a baby in a suitcase across the Rio Grande on May 10. Gary Coronado/Los Angeles Times/Getty Images Migrants wait to get paid after washing cars at a gas station in Brownsville on May 10. Andrew Caballero-Reynolds/AFP/Getty Images Migrants surrender to US Border Patrol agents after crossing the border in Yuma on May 10. Paul Ratje/Reuters Migrants wait to be processed by US Border Patrol agents in Santa Teresa, New Mexico, on April 26. Hudak warned in the filing that without measures to conditionally release some migrants, Border Patrol could have over 45,000 migrants in custody by the end of the month.

☆ Jim Cramer: An economic wave is about to hit that will be fantastic for investors
▼ + stars: | 2023-05-14 | by ( Jim Cramer | ) www.cnbc.com time to read: +12 min

Ultimately, I have gotten to know my way around the CPI and it's a sloppy way to figure out pricing. Don't be frightened of the wave of deflation or misinterpret it as anything but fantastic for investors. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

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