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☆ Putin says some Western weapons for Ukraine are ending up in the Taliban's hands
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

Russian President Vladimir Putin speaks during a meeting with members of the country's Civic Chamber in Moscow, Russia, November 3, 2023. Sputnik/Gavriil Grigorov/Pool via REUTERS Acquire Licensing RightsMOSCOW, Nov 3 (Reuters) - Russian President Vladimir Putin said on Friday that some Western weapons supplied to Ukraine were finding their way to the Middle East through the illegal arms market and being sold to the Taliban. Well of course they are because they are being sold," Putin said. Since Russia sent troops into Ukraine on Feb. 24 last year, Western powers have sent Ukraine tens of billions of dollars worth of weapons in an attempt to defeat Russian troops. In June 2022, the head of Interpol, Jürgen Stock, warned that some of the advanced weapons sent to Ukraine would end up in the hands of organised crime groups.

Persons: Vladimir Putin, Putin, Bradley, Guy Faulconbridge, Andrew Osborn Organizations: Chamber, Sputnik, REUTERS Acquire, Rights, Interpol, Jürgen, Global, Transnational, United, Kiel Institute, Reuters, Thomson Locations: Moscow, Russia, Ukraine, East, Russian, United States, Africa, Europe

An armored vehicle escorting a MINUSMA logistic convoy from Gao to Kidal, is parked as trucks pass by, Mali February 16, 2017. Shortly after the last U.N. convoy rolled out, the ethnic Tuareg rebels announced they had taken over the base. The Tuareg rebels signed a 2015 peace agreement brokered by MINUSMA but maintained control of much of the north from Kidal. The first sign of trouble came in early August, when fighting broke out between Mali's army and Tuareg rebels around the U.N.'s camp in Ber in the north. As in Kidal, peacekeepers destroyed equipment before leaving that could have been transported in trucks earlier, if the government had allowed.

Persons: MINUSMA, Sylvain Liechti, jeopardising U.N, couldn't, Fatoumata Sinkoun Kaba, Yvan Guichaoua, Edward McAllister, David Lewis, Michelle Nichols, Mahamat, Alexandra Zavis, Daniel Flynn Organizations: UN, DAKAR, United Nations, U.N, Reuters, Authorities, Security, Islamic State, Department of Peace Operations, Department of Operational, Wagner Group, MINUSMA, University of Kent's Brussels School of International Studies, Thomson Locations: Gao, Mali, Kidal, West Africa, Malian, al Qaeda, Algeria, Mauritania, Ber, Tessalit, Algerian, Bamako, Dakar, Nairobi, New York, N'Djamena

☆ The Japanese yen's plunge forces Tokyo to pull back on biggest defense build-up since World War II as US weapons get pricier
▼ + stars: | 2023-11-03 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

A 10% drop in the yen since December has forced Japan to scale back defense spending, Reuters reported. The currency's decline has boosted the cost of US-made weapons that Japan plans to procure. In response, Japan is prioritizing frontline weapons and spending less on support systems. AdvertisementAdvertisementJapan is scaling back plans for its largest military build-up since World War II, after weakness in the yen raised the cost of US-made defense equipment, sources told Reuters. In response, Japan is prioritizing outlays on US-made frontline weapons that would be key in any conflict with China, sources told Reuters.

Persons: — Organizations: Reuters, Service, Industries, Federal Reserve, Bank of Japan, Deutsche Bank Locations: Japan, China

☆ Citi weighs shutting municipal-bond trading business - Bloomberg News
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +1 min

The logo for Citibank is seen on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 3, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNov 3 (Reuters) - Citigroup (C.N) Chief Executive Officer Jane Fraser is weighing whether to shutter the bank's municipal-bond trading and origination business, Bloomberg News reported on Friday. Citi's municipal offering business has been under scrutiny from Texas attorney general, who in January halted the bank's ability to underwrite most municipal bond offerings in Texas saying that Citi has discriminated against the firearms sector. A Citi spokesperson at that time had said the company did not discriminate against the sector and that it believed it was complying with Texas' law. Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Saumyadeb Chakrabarty and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Jane Fraser, Citi's, Fraser, Jaiveer Singh, Saumyadeb Chakrabarty, Maju Samuel Organizations: Citibank, New York Stock Exchange, REUTERS, Citigroup, Bloomberg, Citi, Thomson Locations: Manhattan , New York City, U.S, Texas, Bengaluru

HONG KONG (AP) — Asian shares advanced on Friday after Wall Street roared higher on bets that market-rattling interest rate hikes are coming to an end. On Wall Street, the S&P 500 leaped 1.9% Thursday to 4,317.78 for its fourth straight winning day. Starbucks jumped 9.5% after reporting stronger profit and revenue for the latest quarter than Wall Street forecast. On the losing end of Wall Street was Moderna, which sank 6.5% after reporting a much worse loss for the latest quarter than analysts expected. More swings could be coming for Wall Street.

Persons: Seng, Australia’s, Korea’s Kospi, Sensex, It’s, Jerome Powell, Eli Lilly's, Brent Organizations: Shanghai, Federal Reserve, Dow Jones Industrial, Nasdaq, Big U.S, Starbucks, Fair, Moderna, Wall, New York Mercantile Exchange, U.S . Locations: HONG KONG, Tokyo, China, U.S

☆ Saudi Arabia eyes stake in $30 bln Indian Premier League - Bloomberg News
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +1 min

Nov 3 (Reuters) - Saudi Arabia has expressed interest in buying a multibillion-dollar stake in the Indian Premier League (IPL), the world's richest cricket league, Bloomberg News reported on Friday, citing people familiar with the matter. Saudi Arabian Crown Prince Mohammed bin Salman's advisers have spoken to Indian government officials about moving the IPL into a holding company valued at as much as $30 billion, the report said. The Board of Control for Cricket in India (BCCI), the custodian of the IPL, did not immediately respond to Reuters' request for a comment. IPL is one of the richest leagues in the world and has been attracting top players and coaches to India since its inaugural edition in 2008. Reporting by Nilutpal Timsina in Bengaluru; Editing by Shinjini Ganguli and Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Saudi Arabian Crown Prince Mohammed bin, Nilutpal, Shinjini Ganguli, Shilpi Majumdar Organizations: Indian Premier League, Bloomberg, Saudi Arabian Crown, IPL, Control, Cricket, BCCI, Reuters, Thomson Locations: Saudi Arabia, Saudi, India, Bengaluru

☆ Exclusive: Canadian winner of gas rights on Congo's 'killer' Lake Kivu failed criteria
▼ + stars: | 2023-11-02 | by ( Sonia Rolley | ) www.reuters.com time to read: +9 min

[1/5] Aerial view shows Lake Kivu and the skyline of the city of Goma, North Kivu province, Democratic Republic of the Congo October, 21, 2023. First to be auctioned were three methane blocks in Lake Kivu, sometimes dubbed a "killer lake" because of a risk of deadly eruption. The documents do not show why Alfajiri was included in the auction, who requested that the report be edited, or why. Lake Kivu is one of three lakes in Africa scientists say are at risk of limnic eruption. The report's second version - also dated Dec. 8 and seen by Reuters - raised Alfajiri's score to 55.75, putting it ahead of Winds.

Persons: Arlette, Felix Tshisekedi, Alfajiri, Didier Budimbu, Christian Hamuli, Hamuli, Joseph Nzau, Budimbu, Alfajiri's Hamuli, vulcanologist Dario Tedesco, Alfajiri's, Frank Ihekwoaba, Alessandra Prentice, Bate Felix, Joe Bavier, Frank Jack Daniel Our Organizations: Democratic, REUTERS, Reuters, Alfajiri Energy Corporation, Investigative Journalism, Exploration, Ray Group, Ray, Thomson Locations: Lake Kivu, Goma, North Kivu province, Democratic Republic of, Congo, Democratic Republic of Congo, Canada, Calgary, Rwanda, Kivu, Africa, Congolese, U.S

☆ Indian travelers are set to be the fourth largest global spenders by 2030
▼ + stars: | 2023-11-02 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

Indians could be the fourth-largest global travel spenders by 2030, according to a recent report by Booking.com and McKinsey. However, they pointed out that outbound travel only accounted for approximately 1% of total trips made by Indians last year. Based on the report's expectations there will be 5 billion trips made in 2030, 1% of outbound travel will come up to 50 million trips. According to their 2019 research, the U.S., China and Germany were the top three global travel spenders, while India came in sixth. Indian travelers are expected to embark on 5 billion more trips by 2030, and spending on travel and tourism is predicted to hit $410 billion by then.

Persons: That's Organizations: Booking.com, McKinsey Locations: India, U.S, China, Germany

TOKYO (AP) — Asian shares were mostly higher Thursday after the U.S. Federal Reserve indicated it may not need to pump the brakes any harder on Wall Street and the economy. Longer-term Treasury yields have in turn been rising rapidly, with the 10-year Treasury yield topping 5% last month to reach its highest level since 2007. He also said the Fed is not considering cuts to interest rates, which can act like steroids for financial markets. On Wall Street, the S&P 500 rose 1.1% to 4,237.86 and the Dow Jones Industrial Average gained 0.7% to 33,274.58. Big Tech stocks were winners Wednesday, along with other high-growth stocks typically seen as the biggest beneficiaries of easier interest rates.

Persons: Australia's, Korea's Kospi, Seng, It’s, ” Stephen Innes, Fumio Kishida, Stocks, Jerome Powell, Powell, ” Powell, Powell’s, Yung, Yu Ma, “, Ma, Brent Organizations: TOKYO, U.S . Federal, Nikkei, Federal Reserve, Management, Fed, Treasury, BMO Wealth Management, Dow Jones Industrial, Nasdaq, Big Tech, U.S Locations: Hong, Shanghai, Japan

☆ The Kids of Rutherford County, Episode 3: ‘Would You Like to Sue the Government?’
▼ + stars: | 2023-11-02 | by ( ) www.nytimes.com time to read: +43 min

And it meant going back to the Rutherford County Juvenile Court, going back in front of Judge Davenport. meribah knightAnd more importantly —wes clark I was definitely thinking about how we could sue somebody for what happened. wes clark I just remember being giddy, like a kid, like this sentence, this is fucking bonkers, that this exists. And this is The Kids of Rutherford County, Episode 3: Would You Like to Sue the Government? Even more, Rutherford County would likely continue to jail kids at an extraordinary rate.

Persons: Wes Clark, Mark Downton, Judge Davenport, They’d, Clark, downton, —, Here’s Mark, Wes, Mark, wes clark, wes clark Oh, they’re hustling, It’s, we’ve, wes clark Yep, It’s jargony, I’m, I’ve, wes clark That’s, Davenport, wes clark There’s, there’s, ” I’m, Sue, Mark didn’t, Wesley, — he’d, There’s, Mark doesn’t, I’ll, who’d, Kyle Mothershead, Kyle’s, kyle mothershead, Bradley Cooper, meribah, Kyle, he’s, Let’s, “, Wes couldn’t, you’re, Rutherford, Lynn Duke, wasn’t, Duke, shouldn’t, Wes didn’t, Lynn Duke’s, Zeb, zeb smotherman, Smotherman, Grace, Thomas, thomas I didn’t, thomas, Brandon, brandon, brandon I, thomas I, yank, Quintarius Frazier, quintarius frazier I’m, Dylan, dylan I, You’re, they’d, — you’re, I’m Wesley, WGNS, bart, Donna Scott Davenport, donna scott davenport, Bart, Davenport wouldn’t, Rutherford County’s, Bart Walker III, ’, we’re, Judge Davenport’s, Rich Campbell, she’d, Here’s Wes, you’d, Waverly Crenshaw, that’s, wes clark Yes, Judge Crenshaw, who’ve Organizations: ACLU, Juvenile Court, The New York Times, Rutherford County’s Police, truancy, Civil, downton, Juvenile, WGNS, South Locations: Downton, Lake Louise, Rutherford, Hobgood, Tennessee, Rutherford County, Davenport, downton, waiving, Murfreesboro, WGNS, that’s, State, Nashville’s

☆ Police found $130,000 of Legos in a meth lab and say they need a truck to take it all away
▼ + stars: | 2023-11-02 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

Police carted off a truckload of Legos after a drugs raid on an Australian home, reports said. Police say the Legos were worth $130,000 and were bought with drug money. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementPolice carted away a truckload of Legos after a drugs raid on a suburban Australian home, The Australian Associated Press (AAP) reported.

Persons: —, Anthony Vella, Vella Organizations: Police, Service, Australian Associated Press, . Police, AAP, AAP . Police Locations: Australian, 9News, Botany, Melbourne, Australia

☆ Here are Thursday's biggest analyst calls: Amazon, Sunrun, Qualcomm, Eli Lilly, SolarEdge, Estée Lauder and more
▼ + stars: | 2023-11-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Bank of America reiterates Qualcomm as buy Bank of America said it's standing by its buy rating on the stock after its earnings report Wednesday. Citi reiterates Eli Lilly as buy Citi said it sees further upside after the company's earnings report Thursday. RBC downgrades Estée Lauder to sector perform from outperform RBC downgraded the stock after the company's earnings report. Pivotal upgrades Roku to hold from sell Pivotal upgraded the stock after its earnings report Wednesday. " Guggenheim downgrades SolarEdge to neutral from buy The firm said it's "giving up" on its positive stance on the stock.

Persons: RUN's, Taylor Morrison, WK Kellogg, Truist, Amgen, it's, Citi, Eli Lilly, Janus Henderson, underperform KBW, Estée Lauder, F1Q, Bernstein, Hess, CVX, Guggenheim, SolarEdge, Stifel Organizations: Bank of America, Qualcomm, HSBC, Amazon, BMO, Toll, M.D.C . Holdings, JPMorgan, Health, of America, UBS, Eastman Chemical, Citi, Management, RBC, Chevron Locations: Ecommerce, China, U.S

☆ Rich Nations Cut Aid for Climate Shocks, Even as Risks Grow
▼ + stars: | 2023-11-02 | by ( Christopher Flavelle | More About Christopher Flavelle | ) www.nytimes.com time to read: +2 min

Developing nations will need between $215 billion and $387 billion annually this decade to protect against climate shocks, such as worsening storms, crop failures and loss of access to water, the report found. That’s as much as 18 times greater than the total amount that wealthy countries committed for climate adaptation in 2021. The new data comes weeks before the start of a major United Nations climate summit in Dubai, where aid to developing countries will be a top agenda item. At a similar summit two years ago in Glasgow, countries agreed to double their climate adaptation funding by 2025, compared with 2019 levels. Even if nations make good on that pledge, the report said, it would provide just a small share of the additional money needed.

Persons: ”, Georgia Savvidou, Paul Watkiss Organizations: Stockholm Environment Institute, United Nations Locations: United Nations, Dubai, Glasgow, Georgia, Stockholm

HONOLULU (AP) — A wildfire that has burned forestlands in a remote mountainous area of Central Oahu has moved eastward and away from population centers, Hawaii authorities said Thursday, as firefighters continued to battle the blaze. The flames haven't threatened homes or property, and no evacuations have been ordered, but they have scorched some native koa and ohia trees. Nearly 2 square miles (5 square kilometers) have been burned so far by the blaze, which firefighters have been battling since Monday. Three Army helicopters were dropping water on the fire Thursday, and helicopters from the Honolulu Fire Department and the U.S. Political Cartoons View All 1233 ImagesHawaii's ecosystems evolved in the absence of frequent fires, and when native trees burn, they are often replaced by fire-prone invasive species.

Organizations: Honolulu Fire Department, Three Army, U.S . Fish, Wildlife Service, Hawaii Emergency Management Agency Locations: HONOLULU, Central Oahu, Hawaii, Honolulu, U.S, Lahaina

☆ China agrees to nuclear arms-control talks with US -WSJ
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +3 min

The flags of the United States and China fly from a lamppost in the Chinatown neighborhood of Boston, Massachusetts, U.S., November 1, 2021. REUTERS/Brian Snyder/File Photo Acquire Licensing RightsNov 1 (Reuters) - China and the United States will discuss nuclear arms control next week, the first such talks since the Obama administration, the Wall Street Journal reported on Wednesday. Those arms talks would be led on Monday by Mallory Stewart, a senior State Department official, and Sun Xiaobo, the head of the arms-control department at China's Foreign Ministry, the Wall Street Journal report said. Since then, U.S. officials had expressed frustration that China showed little interest in discussing steps to reduce nuclear weapons risks. Daryl Kimball, executive director of the Washington-based Arms Control Association, said the overdue arms talks would likely focus on promoting greater transparency of each countries' nuclear doctrines and more effective crisis-communication channels.

Persons: Brian Snyder, Obama, Wang Yi, Mallory Stewart, Sun Xiaobo, Jake Sullivan, Joe Biden, Xi Jinping, Daryl Kimball, Kimball, Jasper Ward, Dan Whitcomb, Michael Martina, David Brunnstrom, Sandra Maler, Grant McCool Organizations: REUTERS, Wall Street, China's, State Department, China's Foreign Ministry, Wall, U.S . State Department, Reuters, U.S . National, Pentagon, Biden, Control, Thomson Locations: United States, China, Chinatown, Boston , Massachusetts, U.S, Washington, Russia, Beijing, San Francisco

☆ Bank of England set to hold rates again, but markets see no cuts on the horizon
▼ + stars: | 2023-11-01 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

People walk outside the Bank of England in the City of London financial district, in London, Britain, January 26, 2023. "U.K. economic activity appears to have slowed further, the housing market is weaker, consumer spending is falling, and inflationary pressure is showing further signs of dissipating. U.K. inflation came in at 6.7% in September , unchanged from the previous month and considerably higher than in other G7 economies. "The only way that we can rationalise this is if U.K. inflation remains stuck at 3% or higher forever, and/or the U.K. economy avoids a meaningful recession," he said. The European Central Bank last week held rates steady at their current record high of 4%, ending a run of 10 straight hikes.

Persons: Mike Riddell, BoE, Swati Dhingra, Riddell, Abbas Khan, Haskel, Mann, Dhingra, Catherine Mann, Allianz's Riddell Organizations: Bank of England, Allianz Global Investors, P, MPC, Bank, Monetary, LONDON, Barclays, U.S . Federal, Treasury, European Central Bank Locations: City, London, Britain, Israel

NEW YORK (AP) — The U.S. infant mortality rate rose 3% last year — the largest increase in two decades, according to the Centers for Disease Control and Prevention. White and Native American infants, infant boys and babies born at 37 weeks or earlier had significant death rate increases. Because the number of babies born in the U.S. varies from year to year, researchers instead calculate rates to better compare infant mortality over time. The U.S. infant mortality rate has been worse than other high-income countries, which experts have attributed to poverty, inadequate prenatal care and other possibilities. The national rate rose to 5.6 infant deaths per 1,000 live births in 2022, up from from 5.44 per 1,000 the year before, the new report said.

Persons: “ It’s, ”, Marie Thoma, Eric Eichenwald, Eichenwald, Danielle Ely, —, ” Ely Organizations: Centers for Disease Control, University of Maryland, American Academy of Pediatrics, CDC, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Philadelphia, U.S, Georgia, Iowa , Missouri, Texas

BANGKOK (AP) — Asian shares were mostly higher Wednesday after Wall Street advanced to claim back some of the ground it gave up in another losing month. The overwhelming expectation is that the Fed will keep its overnight interest rate steady. Pinterest jumped 19% after reporting stronger profit for the latest quarter than analysts expected. Most big U.S. companies have reported stronger profit for the summer than expected, and Caterpillar also joined them. The Fed has already pulled its main overnight interest rate above 5.25% to its highest level since 2001.

Persons: Pinterest, It's, Brent Organizations: Wall, Federal Reserve, Nikkei, Bank of Japan, European Central Bank, Dow Jones, Nasdaq, Arista Networks, Caterpillar, VF Corp, Vans, Treasury, Fed Locations: BANGKOK, U.S, Hong Kong, Shanghai

☆ New Apple Watch to detect blood pressure, sleep apnea; health coach service planned: Report
▼ + stars: | 2023-11-01 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Apple plans to introduce a new paid health service alongside a blood pressure sensor and a system for detecting sleep apnea in the Apple Watch next year, according to a report from Bloomberg Wednesday. The paid health coaching service could provide a new area for Apple to develop recurring subscription revenues. Apple's blood pressure sensor will reportedly detect when a user's blood pressure is elevated, though it won't show their exact measurements. There's been speculation for years that Apple will eventually add blood pressure sensing to the Apple Watch. Healthcare companies like Omron also already offer watches that can monitor blood pressure.

Persons: There's, Omron Organizations: Apple Watch, Bloomberg, Apple, Samsung

☆ Southeast Asia's digital economy – from e-commerce to online media – is set to hit $218 billion in 2023, report shows
▼ + stars: | 2023-11-01 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

The yearly report analyzed the five main sectors of Southeast Asia's digital economy – e-commerce, travel, food and transport, online media and digital financial services. The report also revealed revenue in Southeast Asia's digital economy is expected to hit $100 billion this year, growing 1.7 times as fast as the region's total transaction value. "Southeast Asia's digital economy is really in the midst of an unprecedented pivot towards profitability. Despite investors being pickier, "dry powder" increased to $15.7 billion at the end of 2022, up from $12.4 billion in 2021. "This shows that there is fuel available to propel Southeast Asia's digital economy to the next stage of growth," the report said.

Persons: Carlina, Hoong, Chadha, Fock, CNBC's JP Ong Organizations: Google, Temasek, Bain & Company, Companies Locations: Asia, Southeast, Southeast Asia, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Brunei, Cambodia, Laos, Myanmar, East Timor, Papua New Guinea

Mistral, a tiny AI startup that aims to be Europe's answer to OpenAI, is in discussions to raise a major round of funding that could push its valuation above $2 billion. Its cofounders are in talks with venture capital firm Andreessen Horowitz to raise further funds, seven sources familiar with proceedings told Insider. Mistral is set to raise around $400 million at a valuation of at least $2 billion, which could rise to as high as $2.5 billion, three sources said. The deal is not yet finalized and the round size, valuation figures, and participants could still change. Andreessen Horowitz, General Catalyst, Mistral, Abstract Ventures, and Bezos Expeditions did not respond to Insider's request for comment.

Persons: Andreessen Horowitz, Catalyst, Arthur Mensch, Guillaume Lample, Timothée Lacroix, Jeff Bezos, Xavier Niel Organizations: Mistral, Meta, DeepMind, Bezos Expeditions, Amazon, Catalyst, Ventures, Lightspeed Venture Partners Locations: Paris

☆ Here’s how much your Thanksgiving meal will cost you this year
▼ + stars: | 2023-11-01 | by ( Parija Bhatnagar | Parija Kavilanz Cnn | ) edition.cnn.com time to read: +5 min

New York CNN —Something wild has happened with turkey prices that’s going to make the cost of cooking the Thanksgiving meal more palatable to families on a tight budget. “Because turkey prices are down so much, and that’s the centerpiece of the meal, celebrating Thanksgiving at home will be more advantageous this year for families,” he said. Drop in turkey prices could bring down the overall cost of a Thanksgiving home-cooked mean this year. Food price increases have been easing this year, offering much-needed relief for many households. Canned food is still costlier heading into the Thanksgiving month compared to last year.

Persons: “ There’s, ”, Michael Swanson, Swanson, Christopher Walljasper, Wells Fargo’s, There’s, “ Russets, –, Danielle Wiener, Bronner Organizations: New, New York CNN, Wells, Food Institute, USDA Livestock Marketing, USDA Locations: New York, “, Pacific

U.S. officials visiting South Africa this week to meet African trade ministers will face calls to reauthorise the African Growth and Opportunity Act (AGOA) which expires in 2025. Apparel companies and industry insiders warn that Africa risks a once-in-a-generation shift away from Chinese manufacturing passing it by, with an estimated 240,000 to 290,000 jobs such as Nasimiyu's under threat. Apparel has been the standout success story of AGOA, which launched in 2000 to help develop African economies and foster democracy. African apparel exports under the programme reached nearly $1.4 billion last year, double the amount pre-AGOA. "We've been struck by how open the opportunity is now for us," South African Trade Minister Ebrahim Patel said last week.

Persons: Norah Nasimiyu, Thomas Mukoya, Pankaj Bedi, Norah Nasimiyu's, We've, Ebrahim Patel, Stephen Lamar, Michael Walsh, Constance Hamilton, Biden, Greg Poole, Bedi, Joe Bavier, Duncan Miriri, Alexander Smith Organizations: United Aryan, Processing, The U.S, REUTERS, U.S . Congress, AFRICA Industry, African Trade, United States Fashion Industry Association, American Apparel and Footwear Association, Congress, Research, U.S . International Trade Commission, GSP, UAL, Thomson Locations: Ruaraka district, Nairobi, Kenya, China, NAIROBI, U.S, South Africa, Africa, Philadelphia, Moscow, Beijing, Russia, Lesotho, Madagascar, Ethiopia, AGOA, gridlock, United States, Johannesburg

☆ China sets the tone on real estate, local government support at a high-level meeting
▼ + stars: | 2023-11-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China signaled support for property developers and resolving local government debt problems in a high-level financial meeting that ended Tuesday, according to a state media readout. Such twice-a-decade financial work conferences tend to set long-term policy directions, which then pave the way for more detailed moves. "Policymakers would establish long-term effective mechanism to resolve local government debt and 'optimize the structure of central and local government debt,'" the report said. Beijing began cracking down on property developers' high reliance on debt for growth in 2020. The massive real estate sector has slumped amid developer defaults and falling home sales.

Persons: Goldman Sachs, Maggie Wei Organizations: of, Initiative Locations: Beijing, China, BEIJING — China

Six of the 11 major S&P 500 sectors were trading lower, with information technology (.SPLRCT) leading losses. Pfizer's shares (PFE.N) fell 1.5% after the drugmaker reported its first quarterly loss since 2019. U.S. equities are tracking their third straight month in the red, with the S&P 500 (.SPX) and the Nasdaq (.IXIC) on course for their worst October since 2018. The Fed kicks off a two-day monetary policy meeting on Tuesday. The Fed's commentary on Wednesday would be crucial in assessing how long monetary policy could stay restrictive amid recent signs of economic strength.

Persons: Brendan McDermid, Andrew Hunter, Amruta Khandekar, Shashwat Chauhan, Saumyadeb Chakrabarty, Shounak Dasgupta, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Corp, Dow, Nasdaq, Federal, Nvidia, Microsoft, Caterpillar, Chicago PMI, Capital Economics, Dow Jones, PDD Holdings, VF Corp, Vans, Arista Networks, Sarepta Therapeutics, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru

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