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Most US cloud companies won't be too hurt except perhaps Oracle, which runs TikTok. US cloud computing companies are about to be the latest target in the discord between the Biden administration and China. That loophole involves cloud computing companies. They merely have to pay for cloud computing services offered by the largest cloud providers. Chinese companies have plenty of local cloud providers to use for their cloud computing needs, like Tencent and Alibaba Cloud.
Persons: Biden, Bernstein, Mark Moerdler, Moerdler, Moerdler isn't, Ampere, Larry Ellison, Joe Biden, Julie Bort Organizations: Morning, Oracle, Wall Street, Amazon Web Services, Google, Microsoft, TikTok, Nvidia, supercomputing, AMD, Twitter Locations: China, Beijing
Banks' commercial real estate portfolios performed better than expected, showing $65 billion in losses or 8.8% of average loan losses, slightly down on last year's 9.8%, the Fed said. "Some may ask how all the banks can get a regulatory thumbs-up when the industry just went through a period of turmoil. The test assesses whether banks would stay above the required minimum 4.5% capital ratio. The average capital ratio for the 23 banks was 10.1%, the Fed said. That compares with 9.7% last year, when the central bank tested 34 lenders against a slightly easier scenario.
Persons: Morgan Stanley, Goldman Sachs, Charles Schwab, Michael Barr, ” Barr, Banks, Barr, Lindsey Johnson, Dennis Kelleher, Ian Katz, Pete Schroeder, Caroline Valetkevich, Deepa Babington, Stephen Coates Organizations: Federal, JPMorgan Chase, Bank of America, Citigroup, Charles Schwab Corp, Deutsche Bank's, Financial Corp, U.S . Bancorp, Valley Bank, Wells, JPMorgan, Industry, Consumer Bankers Association, U.S, Treasury, T Bank, PNC Financial, Citizens Financial, Better, Fed, Capital Alpha Partners, Thomson Locations: Big U.S, Wells Fargo, U.S
For those who remember the 2019 Shakespeare in the Park production of “Much Ado About Nothing” — as I do, fondly — the sight that awaits them at this summer’s “Hamlet” in the same location is disturbing. The flagpole bearing the Stars and Stripes sticks out of the ground at a precipitous angle, like a javelin that made a bad landing. For the director Kenny Leon and the scenic designer Beowulf Boritt, both returning for this “Hamlet” — the Public Theater’s fifth in the park since 1964 and 13th overall — it’s a coup de théâtre, if an odd one. An approach that had been designed to welcome audiences to a new way of looking at Shakespeare in 2019 now seems destined to exclude them. But this “Hamlet” has been placed in a frame that doesn’t match what the production actually delivers, leaving me glad to have seen it but wishing for something more congruent.
Persons: , Stacey Abrams, Kenny Leon, Beowulf Boritt, théâtre, Jason Michael Webb, Wood Locations: Black, Atlanta, tatters
Oil markets shrug off Russian political turmoil
  + stars: | 2023-06-26 | by ( Noah Browning | ) www.reuters.com   time to read: +2 min
Brent crude futures were up 38 cents, or 0.5%, at $74.23 a barrel by 1040 GMT. U.S. West Texas Intermediate crude (WTI) was up 28 cents, or 0.4%, at $69.44. A clash between Moscow and Russian mercenary group Wagner was averted on Saturday after the heavily armed mercenaries withdrew from the southern Russian city of Rostov under a deal that halted their rapid advance on the capital. However, the challenge has raised questions about President Vladimir Putin's grip on power and some concern about possible disruption of Russian oil supply. "China's economic growth has been a nightmare for commodity markets, particularly in oil and industrial metals," CMC Markets analyst Tina Teng said in a note.
Persons: Brent, Wagner, Vladimir Putin's, Vandana Hari, Goldman Sachs, Tina Teng, Noah Browning, Florence Tan, David Goodman Organizations: . West Texas, Vanda Insights, U.S . Federal, CMC, Thomson Locations: Moscow, Russian, Rostov, Russia, U.S
On one vessel, five people died on a very expensive excursion that was supposed to return them to the lives they knew. On the other, perhaps 500 people died just days earlier on a squalid and perilous voyage, fleeing poverty and violence in search of new lives. After contact was lost with the five inside a submersible descending to the Titanic, multiple countries and private entities sent ships, planes and underwater drones to pursue a faint hope of rescue. That was far more effort than was made on behalf of the hundreds aboard a dangerously overcrowded, disabled fishing trawler off the Greek coast while there were still ample chances for rescue. The submersible accident, at the site of a shipwreck that has fascinated the public for more than a century, would have captivated people no matter what.
Robert F. Kennedy Jr., the anti-vaccine activist who's now running for president, has another wealthy backer in his corner: veteran Wall Street executive Omeed Malik. Representatives for Kennedy, Clinton, Pompeo, Summers and Lasry did not return requests for comment about the dinner. Kennedy is the son of former Attorney General Robert F. Kennedy, who was assassinated during his own presidential run in 1968, and the nephew of late President John F. Kennedy, who was shot dead in 1963. Billionaire Twitter owner Elon Musk hosted Kennedy in a recent Twitter Spaces. He later hosted a glitchy Twitter Spaces for the Florida Republican when he announced his run for president.
Persons: Robert F, Kennedy Jr, who's, Omeed Malik, Malik, Kennedy, Hillary Clinton, Trump, Gary Cohn, Mike Pompeo, Boris Johnson, Larry Summers, Marc Lasry, Cohn, Clinton, Pompeo, Summers, Lasry, Johnson, Joe Biden's, Biden, Donald Trump, John F, David Sacks, Chamath Palihapitiya, Sacks, Elon Musk, Musk, Ron DeSantis Organizations: Wall, Bellagio, Business, UK, Democratic, Financial, Quinnipiac, Kennedy, Venture, Republicans, Billionaire Twitter, Florida Gov, Florida Republican Locations: Las Vegas
Restaurant chain Cava raises IPO valuation target to $2.23 bln
  + stars: | 2023-06-12 | by ( ) www.reuters.com   time to read: +1 min
June 12 (Reuters) - Cava Group Inc, which operates a chain of Mediterranean fast-casual restaurants in the United States, said on Monday that it is now aiming for a valuation of up to $2.23 billion in its U.S. initial public offering. Cava now intends to sell roughly 14.44 mln shares to raise $289 million based on the top end of the new proposed range, up from $274.4 million last week. The company is expected to debut on the New York Stock Exchange under the symbol "CAVA" on Thursday. Cava logged a net loss of $59 million in fiscal 2022 compared to $37.4 million in the prior year. Reporting by Manya Saini and Savyata Mishra in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
Persons: Manya Saini, Savyata Mishra, Shailesh Organizations: Inc, New York Stock Exchange, Cava, Thomson Locations: Cava, United States, Bengaluru
Concluding his visit on Thursday, Secretary of State Blinken told reporters he raised human rights issues with Saudi officials and "made clear that progress on human rights strengthens our relationship." "Human rights are always on the agenda of the United States - that’s who we are," he said during a news conference. But some rights advocates argue the golf deal shows the administration has chosen geopolitics over human rights. New York-based Human Rights Watch (HRW) says scores of human rights activists and dissidents are in prison or on trial in Saudi Arabia and that the repression "spiked" following Biden's visit last year. The list included prominent cleric Salman al-Odah, children of former spy chief Saad al-Jabri, human rights defender Mohammed al-Qahtani and aid worker Abdulrahman al-Sadhan.
Persons: Saudi Crown Prince Mohammed bin Salman, Joe Biden, Prince Mohammed bin Salman, Jamal Khashoggi, LIV, Antony Blinken, Blinken, Biden, Seth Binder, Prince Faisal bin Farhan, Sarah Yager, Salman al, Saad al, Mohammed al, Abdulrahman, Saad Ibrahim Almadi, Tess McEnery, Humeyra Pamuk, Simon Lewis, Arshad Mohammed, Don Durfee, Daniel Wallis Organizations: Saudi Crown, Al, Saudi Royal Court, REUTERS, Saudi, Public Investment Fund, North, MbS, PGA, East Democracy, Biden, Rights Watch, Saudi Foreign, U.S, Twitter, Thomson Locations: Jeddah, Saudi Arabia, Bandar, REUTERS RIYADH, WASHINGTON, U.S, Riyadh, Washington, United States, Yemen, New York, China, Israel, OPEC, Russia, Florida
Such a suggestion is blasphemy — and potentially illegal — on Wall Street. But as AI tech continues to advance, one Wall Street executive is wondering if there isn't some wiggle room on those types of policies. But what really caught my eye was Friedman's comments around having to fully understand how the AI works. That's a fascinating thought exercise, and one worth having with how quick AI tech seems to be evolving these days. Wall Street is getting fed up with Amazon.
Persons: Dan DeFrancesco, we've, Adena Friedman, shouldn't, Simon Berlyn, Robert Kindler, Morgan Stanley, Paul, Weiss, Garrison, Marc Lasry, Frank, Charlie Javice, Sam Altman, Bernstein, Rod Stewart, We've, Jeffrey Cane, Nathan Rennolds Organizations: PE, Disney, Pixar, . Finance, Nasdaq, Bloomberg Invest, Milwaukee Bucks, JPMorgan, Amazon, Communist Party, LinkedIn Locations: NYC, Point72, Rifkind, Wharton, New York, London
Inflation, which peaked at 8.1% last year, accelerated for the first time in 10 months in April to 4.4%, more than double the Bank of Canada's 2% target. The recent recovery in Canada's housing market is also putting pressure on prices, analysts say. "The Bank of Canada's penchant for surprising traders means that nothing can be ruled out," said Royce Mendes, head of macro strategy at Desjardins Group. Mendes said there could be more than one rate hike in the cards, and Canadians should "brace themselves for a further tightening in financial conditions this summer". "The latest round of data adds weight to our view that the Bank will need to conduct an insurance rate hike at either of its next two meetings," said Jay Zhao-Murray, FX analyst at Monex Canada.
Persons: Stephen Brown, Royce Mendes, Mendes, Macklem, Jay Zhao, Murray, Steve Scherer, Fergal Smith, Denny Thomas, Daniel Wallis Organizations: OTTAWA, Bank of Canada, BoC, Bank of Canada's, North, Capital Economics, Reuters, Federal Reserve, Desjardins Group, Monex Canada, Thomson Locations: North America, United States, States
During the first year of Russia’s war in Ukraine, the Biden administration fretted constantly that if Kyiv hit back inside Russian borders, President Vladimir V. Putin would retaliate against not only Ukraine, but also possibly NATO and the West. As Ukraine’s counteroffensive edges closer, a series of bold attacks in Russia, from a swarm of drone attacks in Moscow to the shelling of towns in the Belgorod region bordering Ukraine and an incursion into the country using American-made armored vehicles, have been greeted by the Biden administration with the diplomatic equivalent of a shrug. On Monday, fighters attacked at least 10 villages in the Belgorod region with heavy shelling, its governor said. Behind closed doors, senior administration officials have seemed even less fazed. “Look, it’s a war,” one senior Pentagon official said last Thursday.
Persons: Biden, Vladimir V, Putin, “ It’s, John F, Kirby, Organizations: Kyiv, NATO, National Security Council, Pentagon Locations: Ukraine, Russia, Moscow, Belgorod, Ukrainian
OPEC reporters from three large news organizations have not been invited to the oil producing alliance's meetings this weekend, sources told CNBC. The OPEC Secretariat, which oversees media accreditation, on Tuesday issued invitations to some journalists to cover the June 3-4 meetings on-site. Two Wall Street Journal reporters who do not regularly cover OPEC received invitations. Spokespeople for the OPEC Secretariat and Wall Street Journal did not immediately respond to a request for comment. OPEC+ ministerial meetings often see news agencies such as Reuters, Bloomberg and the Wall Street Journal compete to break the results of the meetings before they have been concluded.
Persons: , Russia —, Prince Abdulaziz bin Salman, Alexander Novak Organizations: CNBC, OPEC Secretariat, Reuters, Bloomberg, Wall Street, Street, CNBC —, Financial Times, OPEC, Wall Locations: OPEC, Russia, China, Saudi Arabia, Saudi
Steve Cohen's hedge fund has likely made a $100 million gain on Nvidia after investing last quarter. Cohen recently urged investors to shrug off their fears and ride the "big wave" of AI. Steve Cohen's hedge fund has likely scored a $100 million gain on Nvidia in just two months, thanks to the chipmaker's stock surging on the back of the artificial-intelligence boom. Point72's largest positions included a $523 million stake in Meta Platforms, and more than $400 million worth of stock in both Broadcom and Amazon. He described the burgeoning technology as a "big wave," and predicted it would create new jobs as well as eliminate existing ones.
Alexander Lukashenko said there will be "nuclear weapons for everyone" who joins Russia and Belarus. The comment came after Belarus agreed to host Russia's tactical nuclear weapons. Lukashenko, a close ally of Russian President Vladimir Putin, made the comment Sunday after Belarus agreed to host Russia's tactical nuclear weapons. But the mounting threats have led some adversaries to shrug him off, doubting he would actually resort to using nuclear weapons, Insider's John Haltiwanger previously reported. Belarus agreed to host Moscow's nuclear weapons last week.
They know how it ends: with politicians waiting until the last minute before giving in and finally raising the debt ceiling before disaster strikes. On Friday, it looked like the White House and Republicans were getting closer to a deal on the debt ceiling before talks unexpectedly broke down. In 2011, the most serious near-default in American history, markets experienced volatility in the days and weeks before Washington reached a last-minute deal to raise the debt ceiling. None of this is to say markets are completely ignoring the debt ceiling drama today. The debt ceiling is a manufactured crisis that officials could have dealt with months ago.
Shevrin Jones, a Florida state senator and member of the Biden campaign’s advisory board of elected officials, said he’s eager to tell the country the story of what he’s seen under DeSantis’ leadership. Biden and DeSantis and their wives walk to meet with local residents affected by Hurricane Ian in Fort Myers, Florida, on October 5, 2022. The voter registration advantage Florida Democrats had when President Barack Obama narrowly won the state in 2012 has flipped to Republicans. An adviser to the former New York City mayor told CNN that so far, there has been no outreach to Bloomberg’s operation from either the Biden campaign or the DNC. There was also a fleeting belief that they could push Biden over the top in Florida – though Trump ended up carrying the state by 3 points.
Stocks Slip, Growth Shares Shrug Off Index Losses
  + stars: | 2023-05-17 | by ( Eric Wallerstein | ) www.wsj.com   time to read: 1 min
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Do your co-workers email you with timely requests even when you're on vacation? If so, you might be writing your out-of-office email wrong, says Brandon Smith, a therapist and career coach known as The Workplace Therapist. Generic messages like, "I'll be OOO until [insert date] with limited access to email" can be easy to shrug off. "When I see that, I assume they are at home and took a day to clean their apartment," Smith says. This can set a stronger boundary and help you elicit more guilt from whoever dares cross it.
HONG KONG, May 16 (Reuters) - Asia stocks mostly held firm on Tuesday, despite weaker-than-expected Chinese economic data, with Japan's broad share index hitting a 33-year high on a rally in chipmakers following U.S. tech sector gains. read moreJapan's Topix (.TOPX) was up 0.5% to 2,125.45 in afternoon trade, after earlier hitting 2,126.14, its highest since August 1990. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged 0.32% higher. The dollar index fell 0.029%, with the Japanese yen strengthening 0.10% versus the U.S. currency at 135.98 per dollar. China's benchmark stock index keeping the momentum from Monday's rally and climbing 0.93%.
They were generally deeply supportive of each other, but after she found out about his transgression, she was terribly upset and also confused. #MeToo rhetoric was woven into their discussions, functioning as a superego, shaping and inhibiting what they could even think. What did I do to just upset you?’”Couples work always goes back to the challenge of otherness. Michelle was aware of the way that Covid was devastating Black communities and wanted to be careful. In our sessions, Michelle sounded hopeless: She wanted him to understand how traumatizing Covid had been for Black people.
It also reaffirmed full-year revenue guidance, though it raised its full-year adjusted EBITDA forecast. Western Digital — The chip stock rose about 2% in premarket after the company reported a revenue beat in the latest quarter. Earnings guidance for the full year was more upbeat and the company posted better-than-expected earnings and revenue, according to Refinitiv. The company reported revenue of $149.4 million against Refinitiv analyst expectations of $209.9 million. The company reported adjusted earnings of $7.19 per share, just topping a StreetAccount forecast of $7.18 per share.
Nine people were killed in a mass shooting near Dallas, Texas, on Saturday, including the gunman. He also called on Congress to ban "assault weapons and high-capacity magazines." The mass shooting at a mall near Dallas, Texas, on Saturday left nine people dead, including the gunman. "Once again I ask Congress to send me a bill banning assault weapons and high-capacity magazines. Biden and other Democrats have long called to ban "assault weapons," a divisive term in gun control debates as there isn't a universally accepted definition.
REUTERS/Rodrigo GarridoSANTIAGO, May 5 (Reuters) - Chileans will vote to elect 50 constitutional advisers on Sunday, a major step towards rewriting the constitution, after voters overwhelmingly rejected a first attempt in a plebiscite last September to replace the dictatorship-era charter. The so-called Constitutional Council that voters are set to elect will work as of June on the new constitution, based on a preliminary draft prepared by a commission of 24 experts that Congress appointed in March. "I voted to approve (in September), I wanted a new constitution and to get rid of the dictatorship's constitution, but now I'm not really interested." He stressed that traditional political forces are now more in control of the process, unlike the failed first attempt. It seems "likely that no single bloc or party will win enough seats to independently steer the process without compromise," Watson said.
Markets Shrug Off First Republic Failure
  + stars: | 2023-05-01 | by ( Joe Rennison | ) www.nytimes.com   time to read: +1 min
The failure of First Republic Bank over the weekend barely dented financial markets on Monday, as investors shrugged off the latest bank failure to focus instead on corporate profits and the next big decision on interest rates from the Federal Reserve this week. The S&P 500 nudged higher in early trading, after the Federal Deposit Insurance Corporation’s early morning decision to take the ailing regional lender First Republic under its control and immediately sell it to JPMorgan Chase at a subsidized price. After dropping 75 percent last week, First Republic’s stock price had continued to slump overnight Sunday until trading was eventually halted early Monday morning at around $2 per share. However, investors dismissed any concerns around contagion from First Republic’s woes. A rally on Monday morning added to gains for the S&P 500 last week, when concern over the fate of First Republic reignited.
When King Charles III is crowned on Saturday, he will undergo a ritual so rare in modern British history that it last occurred 70 years ago, roughly the wait between sightings of Halley’s comet. And yet the coronation has yet to capture the imagination of a Britain preoccupied by other concerns. Images of the new king — in chocolate, in Legos and in wax — are popping up in bakeries, toy stores and at Madame Tussauds wax museum. Ancient relics of coronation, like the Scottish stone of destiny, are being delivered to Westminster Abbey for the ceremony. They love the royal family.
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