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REUTERS/Stringer/File PhotoSummary Fears of civil war rose in world's biggest nuclear powerMercenaries posed biggest threat to Putin in 23-year rule'Anyone with anything to lose was extremely tense' -sourceThe elite wonder: What's next for Russia? One fear was that Yevgeny Prigozhin's Wagner mercenary group, if he entered Moscow, would try to take over the economy, triggering yet another redistribution of ownership in Russia, the world's biggest supplier of natural resources. The source spoke on condition of anonymity due to the danger of speaking publicly in contemporary Russia. Russians started to withdraw significant amounts of roubles and seek foreign currency in 15 regions across Russia. But within the elite, there is now a fear that Putin will seek to assert his position and remove those he felt did not profess their loyalty with enough ardour.

Persons: Wagner, Stringer, Putin, What's, Vladimir Putin, Yevgeny Prigozhin's Wagner, Prigozhin's, Mikhail Gorbachev, Andrei Belousov, Dmitry Gusev, Alexander Lukashenko, Prigozhin, Russia's, Sergei Shoigu, Valery Gerasimov, Viktor Zolotov, Guy Faulconbridge, Mark Heinrich Our Organizations: Southern Military District, REUTERS, Reuters, Kremlin, KGB, Bolshevik, Air, Jets, General Staff, National Guard, Thomson Locations: Rostov, Don, Russia, MOSCOW, Moscow, Russian, Soviet, Ukraine, Belgrade, Istanbul, Dubai, Sochi, Belarus, Belarusian, Zolotov

☆ Analysis: Vladimir Putin's humiliation will require the West to reexamine its balancing act to save Ukraine
▼ + stars: | 2023-06-26 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

CNN —The world just got a hint of a tantalizing but possibly even more dangerous future without Russian President Vladimir Putin. The Western stakes in the Ukraine war rose significantly as a result. There’s now no doubt that the war Putin unleashed to wipe Ukraine off the map poses an existential threat to his political survival. This would be good news for the West, which has bankrolled and armed the country’s fight for its life. After this weekend, this new reality will require the West to once again examine its balancing act to save Ukraine.

Persons: Vladimir Putin, Yevgeny Prigozhin flagrantly, Prigozhin’s Wagner, –, Putin, There’s, Oz, Ukraine John Herbst, CNN’s Christiane Amanpour, “ Putin, Prigozhin’s, Moscow’s, Prigozhin –, Africa –, Prigozhin, he’s, CNN’s Kevin Liptak, Biden, ”, David Petraeus, Petraeus, “, Ramzan Kadyrov, Wagner, Robert English, Alexei Navalny, Alexander Lukashenko, “ It’s, Antony Blinken, placated –, Blinken, Will Hurd, ” Hurd, Hurd –, Donald Trump –, Trump Organizations: CNN, White, Kremlin, NATO, Western, Russian Federation, Union, CIA, Internet Research Agency, School of International Relations, University of Southern, Belarusian, ”, Republican, GOP, Moscow Locations: Ukraine, Moscow, Europe, Belarus, Russian, Russia, Syria, Africa, France, Britain, Germany, Washington, “ State, University of Southern California, NATO, Crimea, Texas

☆ Richard Ravitch, Rescuer of the Subways and New York’s Finances, Dies at 89
▼ + stars: | 2023-06-26 | by ( Sam Roberts | ) www.nytimes.com time to read: +1 min

Richard Ravitch, a politically savvy, civic-minded developer and public citizen who helped rescue New York City from the brink of bankruptcy and its decaying subways from fiscal collapse, died on Sunday in Manhattan. His death, in a hospital, was confirmed by his wife, Kathleen M. Doyle. Mr. Ravitch never won elective office. He later served as New York’s lieutenant governor, enlisted by David A. Paterson in 2009 to lend gravitas to his teetering administration. (Mr. Paterson had succeeded Eliot Spitzer, who resigned in disgrace after a prostitution scandal.)

Persons: Richard Ravitch, Kathleen M, Doyle, Mr, Ravitch, David A, Paterson, Eliot Spitzer Organizations: New, Urban Development Corporation, Metropolitan Transportation Authority Locations: New York City, Manhattan, New

☆ What an Election Surprise in Central America Means for Democracy
▼ + stars: | 2023-06-26 | by ( Jody García | Simon Romero | ) www.nytimes.com time to read: 1 min

Judges and prosecutors driven from the country. Top presidential candidates barred from running. Warning signs of the teetering democracy in Central America’s most populous country flashed in the weeks leading up to Guatemala’s presidential election. Bernardo Arévalo, 64, a professorial lawmaker with degrees in philosophy and anthropology, won 12 percent of the vote, with 98 percent of votes counted in Sunday’s first round, the electoral authority said on Monday. Sandra Torres, 67, a former first lady considered a standard-bearer for the conservative establishment, came in first with nearly 16 percent of the vote.

Persons: Bernardo Arévalo, Sandra Torres Locations: Central America’s, Sunday’s

☆ Power Grids Are Teetering Worldwide. Here’s Why.
▼ + stars: | 2023-06-23 | by ( Manuela Andreoni | ) www.nytimes.com time to read: 1 min

That’s because a weather system called a heat dome is parked over Texas, Oklahoma and parts of Mexico. And, there’s a lot of worry about the Texas electric grid. That heat dome could stay in place until early July. As people turn up their air-conditioners to stay cool, will the grids hold? Today, I want to explain to you why electric grids are an enormous concern during extreme heat waves and what policymakers can do about it.

Organizations: Corpus Christi Locations: Texas, Corpus, Texas , Oklahoma, Mexico, Arkansas , Louisiana, Kansas

LONDON, June 20 (Reuters) - The closure of the Tara zinc mine in Ireland tells you how far the price of the galvanising metal has fallen over the last year. The closure is unlikely to alleviate the immediate over-supply of zinc concentrates but it is a sharp reminder for the market that the zinc price is teetering on the edge of the mining production cost curve. LME zinc price, stocks and spreadsTARA'S PERFECT STORMTara Mines, based in County Meath, is "currently cash flow negative due to a combination of factors including operational challenges, a decline in the price of zinc, high energy prices and general cost inflation", Boliden said. "The zinc market seems to be very volatile at the moment," Nystrom said, which is an understatement given the scale of the price collapse over the last 15 months. But Tara's suspension is a wake-up call that after a year of worrying about smelters, zinc traders need to start worrying about zinc mines as well.

Persons: Tara, Boliden, Mines, Gunnar Nystrom, Ireland's, " Nystrom, Morgan Stanley, Barbara Lewis Organizations: London Metal Exchange, Ireland's RTE, Shanghai Metal Markets, Fastmarkets, Reuters, Thomson Locations: Ireland, County Meath, Europe, China, Shanghai, London

☆ China's economic recovery is stalling. Here's what to expect next
▼ + stars: | 2023-06-16 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

watch nowA raft of weak Chinese economic data in May has raised hopes of decisive policy intervention. A slew of economic data from industrial production and fixed asset investment to retail sales and trade fell short of expectations, with China teetering on the brink of deflation as its post-pandemic economic recovery stalls. "Weak investments data suggest that authorities are unlikely to stop at the monetary easing we saw this week," Oxford Economics' lead economist Louise Loo wrote in a note after Thursday's China data release. "We therefore continue to expect announcements of further 'piecemeal' property sector easing measures to follow in the coming weeks," Loo wrote. Goldman Sachs economists said last month that getting young people back to work would give China's economic recovery a sizable boost, given that they account for almost 20% of consumption in China.

Persons: China teetering, Helen Qiao, Louise Loo, Loo, Goldman Sachs, America's Qiao Organizations: China's State Council, Communist, China's National Statistics Bureau, Bank of America's, CNBC, People's Bank of, Oxford, Afp, Getty, Bank Locations: China, People's Bank of China, Chinese, Chongqing, America's

☆ Twitter's new CEO Linda Yaccarino has seemingly had one of her tweets framed at the company's HQ, following in Elon Musk's footsteps
▼ + stars: | 2023-06-09 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

A Twitter employee shared a photo of Linda Yaccarino's tweet framed on the office wall. Linda Yaccarino, the new Twitter CEO, has joined Elon Musk in having one of her tweets framed on the office walls of her new company. And either she or some other Twitter employee must be quite proud of this retort, because it's now been put on display in the headquarters. It looks like it's framed on the same wall where Elon Musk had one of his tweets put on show last November. Although several users had already come up with this joke, even photoshopping fake Musk tweets before the real billionaire posted it himself.

Persons: Linda Yaccarino's, Elon Musk, Linda Yaccarino, Yaccarino, it's, Musk, Twitter Organizations: Twitter, Elon Musk Locations: San Francisco, Twitter's San Francisco

The warnings about the old brick building on Main Street just kept coming. There was an engineer’s report in February about a compromised wall. Over months, assessments were written, work permits were issued and some repairs were made. Still, as alarm grew and complaints mounted, people were allowed to remain in their apartments at 324 Main Street in Davenport, Iowa, a city of 100,000 residents situated about halfway between Des Moines and Chicago. But last week, a day after that 911 call, a section of the downtown building cleaved off and fell into a parking lot.

Persons: ”, Jane Banks, Branden Colvin Sr Locations: Davenport , Iowa, Des Moines, Chicago

☆ Exclusive: Olympics-IBA says has met reform criteria, accuses IOC of intransigence
▼ + stars: | 2023-06-05 | by ( Karolos Grohmann | ) www.reuters.com time to read: +5 min

PARIS, June 5 (Reuters) - With boxing teetering on the brink of Olympic elimination, the International Boxing Association (IBA) told the International Olympic Committee it had met its reform criteria and any ban lacked legal basis. "IBA did its best to eliminate IOC’s concern on IBA’s different areas of work and to improve them, such as finances, governance and sports integrity," the IBA report said. "It is necessary to remind that CK Wu at that time was an IOC member, and it is completely wrong that IBA bears full responsibility for the wrongdoings of the IOC member," the IBA said. "The IOC surpassed IBA completely and contacted the officials without prior agreement of data sharing between the two entities." "Withdrawal of the IBA’s full recognition by the IOC will be not justified, fair and legally correct decision," it said.

Persons: Umar Kremlev, CK Wu, Karolos, Christian Radnedge Organizations: International Boxing Association, International Olympic, IOC, Reuters, IBA, Paris, Gazprom, International Federation, Olympic Games, Thomson Locations: Los, India, Ukraine, Paris

MiniMax was founded in 2021 by some former employees of SenseTime (0020.HK), including Yan Junjie - a former vice president at the Chinese AI firm, two other people said. Wang Huiwen, co-founder of on-demand service giant Meituan (3690.HK), said he has founded a new AI company called Beijing Lightyear Technology with $50 million from investors. Google China's former chief, Kai-Fu Lee, has unveiled his new startup - Project AI 2.0. Wang Xiaochuan, founder of China's No.2 search engine Sogou, said in April that he had founded Baichuan Intelligence with a startup capital of $50 million. Its other early investors include China's Yunqi Partners and Future Capital, statements from the venture capital funds show.

Persons: MiniMax, Yan Junjie, Wang Huiwen, Kai, Fu Lee, Wang Xiaochuan, China's, MiHoYo, Charlie Chai, ERNIE Bot, Chai, Roxanne Liu, Josh Ye, Himani Sarkar Organizations: Microsoft, HK, Huawei, Baidu, Beijing Lightyear Technology, Google, Baichuan Intelligence, China's Yunqi Partners, Future, 86Research, Thomson Locations: BEIJING, HONG KONG, China, Beijing, miHoYo, Hong Kong

☆ Stick with this mega-cap tech stock that still has room for outsized growth
▼ + stars: | 2023-05-31 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. 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. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Big, Dow, Bernstein, Mary Dillon, Foot, Dillion, Jim Cramer's, Jim Organizations: CNBC, Amazon New, Big, Nasdaq, Dow, Devices, Nvidia, Meta, Wednesday, Club, Services, New Locations: AMZN, FL

☆ Wall Street Journal insiders are bracing for more changes under its new top editor, including layoffs that could hit as early as this week
▼ + stars: | 2023-05-30 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Wall Street Journal staffers are bracing for layoff news as early as this week and other changes under its new EIC. Emma Tucker has shaken up the top editor ranks, and insiders expect changes to the editing process. Wall Street Journal staffers are bracing for layoffs and broader changes under new top editor Emma Tucker. People expect Tucker to overhaul the cumbersome front-page editing process for top enterprise stories and deemphasize commodity news in favor of more investigative pieces, with specifics to come as early as June. "She's not afraid to ask questions that are challenging Wall Street Journal orthodoxy," a second insider said.

☆ A 'Big Short' investor sees financial disaster brewing in housing markets — again
▼ + stars: | 2023-05-29 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

A 'Big Short' investor fears an often-overlooked climate risk could see history repeating itself in the housing market. He helped two of the protagonists of Michael Lewis' bestselling book "The Big Short" bet against the mortgage market in the lead-up to the 2008 economic collapse. Now, Burt believes the mortgage market is underestimating another systemic issue: flood risk. If realized, he warns the fallout could resemble the massive correction seen during the global financial crisis. So, why does the U.S. housing market seem to be underestimating the cost of flooding?

☆ Newsroom insiders are bracing for changes at The Wall Street Journal under its new top editor, including layoffs that could hit as early as this week
▼ + stars: | 2023-05-26 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Wall Street Journal staffers are bracing for layoff news as early as this week and other changes under its new EIC. Emma Tucker has shaken up the top editor ranks, and insiders expect changes to the editing process. Wall Street Journal staffers are bracing for layoffs and broader changes under new top editor Emma Tucker. One audio staffer was laid off last week, in keeping with Journal practice to quietly shed people in small numbers. "She's not afraid to ask questions that are challenging Wall Street Journal orthodoxy," a second insider said.

☆ Zelensky Lands in Japan for G7 Summit, Seeking Military Aid
▼ + stars: | 2023-05-20 | by ( David E. Sanger | Natalia Yermak | ) www.nytimes.com time to read: +5 min

At the beginning of the war in Ukraine, President Biden told the country’s president, Volodymyr Zelensky, that he could not have American precision missile systems. Washington’s pattern of saying no before saying yes has repeated itself enough times over the past 15 months that Ukrainian officials say they now know to ignore the first answer and keep pressing. White House officials insist this reflects not indecision, but changing circumstances — and changing assumptions about the risks involved. And after China’s leader, Xi Jinping, explicitly warned late last year against threatening the use of nuclear weapons, Mr. Putin has quieted down. Some experts warn that Mr. Putin hasn’t dropped his nuclear threats; just delayed them.

At the beginning of the war in Ukraine, President Biden told the country’s president, Volodymyr Zelensky, that he could not have American precision missile systems. It all raises the question: Are there any conventional weapons in the American or NATO arsenals that the president would not, eventually, provide to Ukraine? Washington’s pattern of saying no before saying yes has repeated itself enough times over the past 15 months that Ukrainian officials say they now know to ignore the first answer and keep pressing. And after China’s leader, Xi Jinping, explicitly warned late last year against threatening the use of nuclear weapons, Mr. Putin has quieted down. Some experts warn that Mr. Putin hasn’t dropped his nuclear threats; just delayed them.

At the beginning of the war in Ukraine, President Biden told the country’s president, Volodymyr Zelensky, that he could not have American precision missile systems. Washington’s pattern of saying no before saying yes has repeated itself enough times over the past 15 months that Ukrainian officials say they now know to ignore the first answer and keep pressing. But White House officials say the shifting positions reflect not indecision, but changing circumstances — and changing assumptions about the risks involved. And after China’s leader, Xi Jinping, explicitly warned late last year against threatening the use of nuclear weapons, Mr. Putin has quieted down. Some experts warn that Mr. Putin hasn’t dropped his nuclear threats; just delayed them.

☆ Premarket stocks: Investors shouldn't ignore this recession warning sign
▼ + stars: | 2023-05-18 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

“Retail growth held on by the skin of its teeth this month,” said Neil Saunders, managing director of GlobalData. The retailer posted disappointing sales for its first quarter and lowered its outlook for the year as customers slowed their spending. Total sales ticked up 0.5% during its latest quarter from a year ago, the company said Wednesday. The bill, which will take effect in January, specifically names TikTok as its target, prohibiting the app from operating within state lines. Pence said he expects to come to a decision about a presidential run before the end of June.

☆ UBS expects $17 billion hit from Credit Suisse rescue, flags hasty due diligence
▼ + stars: | 2023-05-17 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Swiss authorities brokered the controversial emergency rescue of Credit Suisse by UBS for 3 billion Swiss francs ($3.37 billion) over the course of a weekend in March. UBS estimates a financial hit of around $17 billion from its emergency takeover of Credit Suisse , according to a regulatory filing, and said the rushed deal may have affected its due diligence. In the amended F-4 filing, UBS also highlighted that the short time frame under which it was forced to conduct due diligence may have affected its ability to "fully evaluate Credit Suisse's assets and liabilities" prior to the takeover. Swiss governmental authorities approached UBS on March 15 while considering whether to initiate a sale of Credit Suisse in order to "calm markets and avoid the possibility of contagion in the financial system," the filing revealed. The bank had until March 19 to conduct its due diligence and return with a decision.

☆ 'Severe hardship to American families' is inching closer and closer as Congress fails to find a debt ceiling solution, Janet Yellen warns
▼ + stars: | 2023-05-15 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +3 min

Janet Yellen reminded Kevin McCarthy on Tuesday that the US could default on its debt in early June. If the debt ceiling is not raised by then, Americans could experience "severe hardship," Yellen warned. In a new letter to House Speaker Kevin McCarthy, Yellen reiterated that the country might run out of money to pay its debts as soon as June 1 if Congress doesn't step in. And, right now, with Democrats and Republicans still squabbling over how to approach a debt ceiling increase, Congress is running out of time to avert a crisis. The Washington Post reported on Monday, for example, that GOP staff refused the White House's request to close tax loopholes in debt ceiling talks.

☆ How El Chapo’s sons built a fentanyl empire poisoning America
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +23 min

Headed by Iván, El Chapo’s oldest son, the siblings have emerged as key figures in the Sinaloa Cartel, U.S. and Mexican anti-narcotics officials said. But he was killed in 2008 in Culiacán in a hail of bullets amid infighting between warring factions of the Sinaloa Cartel. The agency in April placed Iván on the list of its 10 Most Wanted Fugitives, joining Jesús Alfredo and Ismael “El Mayo” Zambada, a Sinaloa Cartel legend and El Chapo’s alleged former business partner. They also kidnapped eight soldiers and surrounded military housing where wives and children of Mexican soldiers lived, Mexican officials said. Despite that blow to the Sinaloa Cartel, fentanyl keeps flowing north.

☆ Gundogan brace takes Manchester City four points clear at top of Premier League
▼ + stars: | 2023-05-06 | by ( Lori Ewing | ) www.reuters.com time to read: +3 min

[1/3] Soccer Football - Premier League - Manchester City v Leeds United - Etihad Stadium, Manchester, Britain - May 6, 2023 Leeds United's Joel Robles in action as Manchester City's Ilkay Gundogan misses from the penalty spot REUTERS/Molly DarlingtonMANCHESTER, England, May 6 (Reuters) - Hard-charging Manchester City went four points clear of Arsenal at the top the Premier League on Saturday, beating Leeds United 2-1 with a pair of near-identical goals from Ilkay Gundogan, stretching their winning league run to 10 games. Mahrez teed up Gundogan again eight minutes later in a carbon copy of his first goal. Allardyce admitted it looked bound to be a blowout at halftime, but Leeds "changed in terms of pushing up the pitch." Despite numerous scoring chances, and with the Etihad Stadium crowd cheering him on, Haaland was unable to extend the Premier League single-season record of 35 goals he set earlier in the week. Treble-chasing Manchester City, who play Real Madrid on Tuesday in the first leg of the Champions League semi-final, are unbeaten in 20 games through all competitions.

PacWest plunges as banking woes spreadThe regional banking sector is teetering again, with PacWest’s stock plummeting more than 35 percent in premarket trading, despite the Fed chair Jay Powell’s assessment that the worst is over. The Los Angeles-based lender confirmed that it was talking to potential investors following reports that it was exploring a sale. Investors may be feeling some déjà vu after witnessing two big bank failures, and billions in market value wiped out, since the collapse of Silicon Valley Bank in March. It’s not just PacWest in free-fall. News of a potential PacWest sale, first reported by Bloomberg — and confirmed by DealBook — came just hours after Mr. Powell declared that the banking system was “sound and resilient.”

☆ Proud Boys trial: Four members found guilty of seditious conspiracy
▼ + stars: | 2023-05-04 | by ( Hannah Rabinowitz | ) edition.cnn.com time to read: +3 min

CNN —Four members of the far-right Proud Boys have been found guilty of seditious conspiracy by a jury in Washington, DC, for their role to forcibly prevent the peaceful transfer of power from then-President Donald Trump to Joe Biden after the 2020 election. The jury was unable to reach a verdict on the seditious conspiracy charge against Pezzola. Proud Boys were at the front lines of the mob on Capitol grounds and were there when the first barriers were breached. Prosecutors have alleged that leaders of the group riled members up and communicated with them, through hand signals, to move ahead. During the trial, jurors listened to testimony from multiple officers who defended the Capitol on January 6 as well as FBI agents who investigated the Proud Boys and testimony from several Proud Boys members including two of the defendants, none of whom said there was ever a specific plan to take the Capitol.

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