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☆ Video-gaming revenue to grow 2.6% in 2023 on console sales strength - report
▼ + stars: | 2023-08-08 | by ( Akshita Toshniwal | ) www.reuters.com time to read: +2 min

A worker holds a Playstation 5 at a Best Buy store during Black Friday sales in Chicago, Illinois, U.S., November 25, 2022. REUTERS/Jim VondruskaAug 8 (Reuters) - Global video-games market would return to growth in 2023 on the back of strong sales of consoles such as Sony's Playstation 5, according to gaming market research firm Newzoo. Newzoo said it expects industry revenue to rise 2.6% to $187.7 billion in 2023, driven by a 7.4% rise in console sales in the year. Market research firm Circana said U.S. consumer spending on video-game hardware was up by 23% in the first half of 2023. Reporting by Akshita Toshniwal and Chavi Mehta in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Jim Vondruska, Newzoo, Tom Wijman, Circana, Akshita Toshniwal, Chavi Mehta, Shilpi Majumdar Organizations: Black, REUTERS, Gaming, PlayStation, Sony, Activision, Electronic Arts, EA Sports FC, Newzoo, Apple, Google, Thomson Locations: Chicago , Illinois, U.S, Bengaluru

☆ German space firm OHB plans to delist as KKR takes minority stake
▼ + stars: | 2023-08-07 | by ( Alexander Hübner | ) www.reuters.com time to read: +2 min

Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid/File PhotoBERLIN, Aug 7 (Reuters) - Germany's OHB (OHBG.DE) on Monday said U.S. financial investor KKR was buying a minority stake in the space company and it planned to delist from the stock market. KKR is planning a voluntary public tender offer for all outstanding shares at a price of 44 euros ($48.34), according to OHB. In total, KKR is putting up to 338 million euros into OHB with the takeover bid, a capital increase of 10% and a capital injection for the OHB space subsidiary Rocket Factory. OHB posted a first half pre-tax profit of 19.6 million euros and said its order backlog remained at a high level of 1.8 billion euros.

Persons: Brendan McDermid, Fuchs, Marco Fuchs, OHB, Christian Ollig, Alexander Huebner, Rachel More, Miranda Murray, Kirsten Donovan Organizations: KKR, New York Stock Exchange, REUTERS, Monday, Factory, Thomson Locations: New York, U.S, Bremen, Europe

“It’s really relative to just pricing against bond yields”, said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management in Minneapolis. Eight of the eleven main S&P 500 sectors declined, with more interest rates sensitive Utilities(.SPLRCU) and Real Estate (.SPLRCR) leading losses, dropping 2.3% and 1.4% respectively. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Second-quarter earnings for companies in the S&P 500 are now expected to fall 5% from a year earlier, according to Refinitiv data. The S&P 500 posted 14 new 52-week highs and 6 new lows; the Nasdaq Composite recorded 58 new highs and 88 new lows.

Persons: “ It’s, Tom Hainlin, …, Thomas Barkin, Brendan McDermid, Echo Wang, Shubham Batra, Bansari, Anil D'Silva, David Gregorio Our Organizations: PayPal, Qualcomm, Dow, Nasdaq, Treasury, U.S, Bank Wealth Management, Labor Department, Investors, Richmond Federal, Dow Jones, Traders, New York Stock Exchange, REUTERS, PayPal Holdings, Spirit Airlines, NYSE, Thomson Locations: Minneapolis, U.S, New York City, New York, Bengaluru

☆ Sluggish return of business travelers forces US airlines to rejig their networks
▼ + stars: | 2023-08-03 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +5 min

Before the pandemic hit in 2020, corporate travel was the travel industry's cash cow. Investors in travel companies are concerned that the spending from vacationers cannot make up the shortfall. For months, Alaska Air's (ALK.N) business bookings have been 25% below pre-pandemic levels. JetBlue Airways (JBLU.O) said on Tuesday it will redeploy capacity away from New York to high-margin leisure destinations with business travel demand 20% below pre-pandemic levels. Recent passenger screening and fare data shows U.S. travel demand has peaked, hurting the carriers' pricing power.

Persons: Ronald Reagan, Kevin Lamarque, Shane Tackett, Bob Jordan, Kevin Kopelman, Luis Gallego, JPMorgan Chase, Goldman Sachs, Morgan Stanley, Rajesh Kumar Singh, Doyinsola Oladipo, Sarah Young, Joanna Plucinska, David Gaffen, Matthew Lewis Organizations: Ronald Reagan Washington National Airport, REUTERS, U.S, Investors, Airlines for America, Reuters, JetBlue Airways, Southwest Airlines, Marriott, MasterCard, Delta Air Lines, American Airlines, NYSE, Cowen, British Airways, IAG, Google, JPMorgan, Thomson Locations: Ronald Reagan Washington, Arlington , Virginia, U.S, Alaska, Seattle, Mexico, Costa Rica, California, New York, Asia, Pacific, Europe, Chicago, London

☆ Two US Navy sailors arrested for allegedly sharing sensitive military information with China
▼ + stars: | 2023-08-03 | by ( Natasha Bertrand | ) edition.cnn.com time to read: +5 min

CNN —Two US Navy sailors have been indicted and arrested for allegedly sending sensitive US military information to Chinese intelligence officers. The other sailor who has been arrested, Petty Officer Wenheng Zhao, worked at Naval Base Ventura County in Port Hueneme in California. In return, Wei allegedly received thousands of dollars. The indictment indicates that Wei received US citizenship during this period, with the Chinese intelligence officer allegedly congratulating Wei on receiving citizenship on May 18, 2022. Much of the information Wei allegedly sent to the Chinese officer was stored on restricted-access Navy computer systems that Wei was able to access because he had a security clearance.

Persons: Jinchao Wei, Wenheng Zhao, Wei, Zhao, “, ” Matt Olson, Zhao “, ” Martin Estrada, ”, Jack Teixeira, Randy Grossman, Brig, Patrick Ryder, ” Ryder Organizations: CNN, US Navy, Naval Base San, Southern, Southern District of, Navy, Naval Base, People’s, Prosecutors, Central, Central District of, Massachusetts Air National Guard, US Locations: Naval Base San Diego, Southern District, Southern District of California, Pacific, Naval Base Ventura County, Port Hueneme, California, People’s Republic, Essex, Okinawa, Japan, Central District, Central District of California, China, United States

REUTERS/Souleymane Ag Anara/File PhotoWASHINGTON, Aug 2 (Reuters) - The United States ordered the evacuation of some staff and families from its embassy in Niger after military officers seized power there, the State Department said on Wednesday, even as the mission will remain open and senior leadership will continue working from there. "The United States remains committed to our relationship with the people of Niger and to Nigerien democracy. The State Department is advising Americans not to travel to Niger. There are about 1,100 U.S. troops in Niger, where the U.S. military operates from two bases. Washington evacuated all government personnel from the U.S. embassy in Khartoum and suspended operations there due to the security risks.

Persons: Matthew Miller, Miller, Idrees Ali, Daphne Psaledakis, Eric Beech, Lisa Shumaker, Alistair Bell, Chris Reese Organizations: REUTERS, United, State Department, Department of State, U.S, Embassy, Department, The State Department, Islamic, ., Rapid Support Forces, Reuters Graphics Reuters, Thomson Locations: Niamey, Niger, United States, Nigerien, U.S, France, Germany, Italy, al Qaeda, Islamic State, Sudan, . Washington, Khartoum

Yet a sharp drawdown in the excess savings created by COVID-19 could be a curve ball that slams into bullish sentiment. U.S. excess savings have fallen to around $500 billion from around $2.1 trillion in August 2021, the San Francisco Federal Reserve estimates. In Europe, Deutsche Bank reckons excess savings in Sweden, struggling to contain a property slump, have dwindled. Reuters GraphicsRUNNING OUTDefinitions for excess savings differ, but economists generally agree that this means savings that went beyond trend levels during the pandemic. Cardano chief economist Shweta Singh said U.S. pandemic excess savings are likely to be depleted by year-end.

Persons: Rachel Adams, Janus Henderson, Oliver Blackbourn, Shweta Singh, Guy Miller, Jamie Dimon, Ben, Eren Osman, Arbuthnot Latham, Janus Henderson's Blackbourn, U.S . Russell, Russell, Goldman Sachs, Blackbourn, Zurich's Miller, Simon Bell, Guilluame Paillat, Paillat, Naomi Rovnick, Sharon Singleton Organizations: Oxford, REUTERS, San Francisco Federal, Deutsche Bank, Reuters, Insurance Group, Ryanair, JPMorgan, Unilever, U.S ., London's, Bank of, Aviva, Thomson Locations: Britain, London, China, Europe, U.S, Sweden, United States, downturns, Australia

☆ Niger loses aid as Western countries condemn coup
▼ + stars: | 2023-07-29 | by ( ) www.reuters.com time to read: +3 min

Niger is one of the poorest countries in the world, receiving close to $2 billion a year in official development assistance, according to the World Bank. It is also a key security partner of Western countries such as France and the United States, which use it as a base for their efforts to contain an Islamist insurgency in West and Central Africa's Sahel region. Bazoum has not been heard from since early Thursday when he was confined within the presidential palace, although the European Union, France and others say they still recognize him as the legitimate president. Niger is a key partner of the European Union in helping curb the flow of irregular migrants from sub-Saharan Africa. The United States has two military bases in Niger with some 1,100 soldiers, and also provides hundreds of millions of dollars to the country in security and development aid.

Persons: Mohamed Bazoum, General Abdourahamane Tiani, Bazoum, Josep Borrell, Antony Blinken, Moussa Aksar, Kate Abnett, Nellie Peyton, Giles Elgood Organizations: REUTERS, European, World Bank, European Union, EU, United, United Nations, West African States, Security, Thomson Locations: Niamey, Niger, NIAMEY, United States, France, West, Central, EU, Saharan Africa, Antony Blinken ., Bazoum, Nigeria, Brussels

☆ US orders government personnel, family members to leave Haiti
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

July 27 (Reuters) - The U.S. State Department on Thursday ordered non-emergency government personnel and family members to leave Haiti as soon as possible, citing "kidnapping, crime, civil unrest, and poor health care infrastructure." The State Department said U.S. citizens not working for the government should also leave Haiti as soon as possible "by commercial or other privately available transportation options." Kidnappers may use sophisticated planning or take advantage of unplanned opportunities, and even convoys have been attacked," the State Department said in a travel advisory. read moreThe Caribbean nation has not elected a new leader since President Jovenel Moïse was assassinated on July 7, 2021. Reporting by Dan Whitcomb; Editing by Tom Hogue, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Persons: Jovenel Moïse, Dan Whitcomb, Tom Hogue, Robert Birsel Organizations: U.S . State Department, State Department, Thomson Locations: Haiti, Caribbean

☆ Champions United States held 1-1 by Dutch in World Cup thriller
▼ + stars: | 2023-07-27 | by ( Amy Tennery | ) www.reuters.com time to read: +3 min

The Dutch struck first through a fine shot from midfielder Jill Roord in the 17th minute and the U.S. went in at halftime trailing in a World Cup match for the first time since 2011. The Americans had not drawn a World Cup match since 2015 and will rue a slow start to the game as well as an inability to take their chances at the end. "What you saw in the second half is what you're going to see going forward as a baseline." But after the second half, that's what we wanted because the U.S. were really strong." Reporting by Amy Tennery in Wellington, editing by Nick MulvenneyOur Standards: The Thomson Reuters Trust Principles.

Persons: Yoshimi Yamashita, Lindsey Horan, Danielle van de Donk, Amanda, Read, Jill Roord, Horan, Rose Lavelle, Daphne van Domselaar, Vlatko Andonovski, Andries Jonker, Lieke Martens, Victoria Pelova, Alyssa Naeher, Trinity Rodman, Van Domselaar, Dominique Janssen, Striker Morgan, Ertz, Brugts's, Rodman, Sophia Smith, Martens, Amy Tennery, Nick Mulvenney Organizations: Soccer Football, FIFA, Wellington Regional, Danielle van de Donk REUTERS, Dutch, Portugal, U.S, Thomson Locations: New Zealand, States, Netherlands, Wellington , New Zealand, WELLINGTON, United States, U.S, Vietnam, Dutch, Wellington

NEW YORK, July 27 (Reuters) - Bank of America CEO Brian Moynihan said U.S. authorities need to be careful when implementing new capital requirements of the Basel III accord to avoid reducing the ability of U.S. banks to compete globally. ... We're talking about a $30 or $40 billion bank, or a $100 billion bank, not being able to compete for a middle market loan because a bank or a supplier in Europe ... is getting a lower cost of capital", Moynihan added. U.S. banking regulators are expected to unveil on Thursday a sweeping proposal for stricter bank capital requirements. While the precise details aren't yet known, regulators have said the rules will apply to banks with $100 billion in assets or more. Bank of America expects a "slight" recession in the first part of next year and predicts the first interest rate cut will happen by mid-2024.

Persons: Brian Moynihan, Moynihan, JPMorgan, Jonathan Stempel, Tatiana Bautzer, David Goodman, Chizu Organizations: YORK, Bank of America, Basel III, Fox Business, Pacwest Bancorp, JPMorgan Chase, Thomson Locations: Basel, U.S, Europe, Banc, California

☆ Underdogs serve notice that the gap is closing at Women's World Cup
▼ + stars: | 2023-07-25 | by ( Lori Ewing | ) www.reuters.com time to read: +4 min

At the 2019 World Cup in France, the United States thoroughly demolished Thailand 13-0. "Going into this World Cup the game has just grown and a lot of federations have grown as well," said U.S. defender Naomi Girma. Only 40% identified themselves as a professional footballer, although all will receive $30,000 direct from FIFA for playing in the World Cup. "We know we are not going to have any easy game in the World Cup," she said. They made the World Cup."

Persons: Deneisha Blackwood, Carl Recine SYDNEY, Alen Stajcic, We've, Mary Earps, Lorne Donaldson, Chantelle Swaby, Allyson, FIFPRO, Naomi Girma, Jitka Klimkova, Lori Ewing, Amy Tennery, Nick Mulvenney, Michael Perry Organizations: Soccer Football, FIFA, Sydney Football Stadium, REUTERS, Morocco, Monday, Vietnam, England, Debutants, Zealand, Norway, New, World, Thomson Locations: New Zealand, France, Jamaica, Sydney, Australia, Haiti, Ireland, Germany, Brazil, Japan, Philippines, Switzerland, United States, Thailand, Debutants Ireland, Argentina, Ghana, U.S, England, Vietnam, Czech

WASHINGTON, July 25 (Reuters) - A U.S. federal judge on Tuesday blocked President Joe Biden's new regulation restricting asylum access at the U.S.-Mexico border, upending a key tenet of his plan to deter migration after COVID-era Title 42 restrictions ended in May. California-based U.S. District Judge Jon Tigar stayed the order for 14 days, leaving the restrictions in place for now. The Biden administration within hours appealed to the U.S. 9th Circuit Court of Appeals. The number of migrants caught crossing the border illegally plummeted in recent months after the new regulation went into place. Whether the trend will continue if the new asylum restrictions are blocked remains unclear.

Persons: Joe Biden's, Jon Tigar, Biden, Donald Trump, Barack Obama, Tigar, prolongs, Katrina Eiland, Ted Hesson, Kristina Cooke, Mica Rosenberg, Chris Reese, Daniel Wallis Organizations: U.S, District, Appeals, Democrat, Republican, Trump, American Civil Liberties Union, ACLU, Reuters, U.S . Department of Homeland Security, White, Thomson Locations: U.S, Mexico, . California, Belize, Colombia, Washington, New York

It has already taken aim at meatpacking, ocean shipping and consumer junk fees. "We cannot accept bad mergers that lead to mass layoffs, higher prices and fewer options for workers and consumers," Biden said. Hannah Garden Monheit, the new director of Competition Council Policy at the National Economic Council, told Reuters the administration would "use all the tools that we have" to curb anti-competitive practices. [1/2]U.S. President Joe Biden speaks as he convenes a meeting of the White House Competition Council in the State Dining room at the White House in Washington, U.S., July 19, 2023. Biden has repeatedly called for federal agencies, Congress and private companies to address surprise fees that can jack up consumers' cost by 20%.

Persons: Joe Biden, Biden, I've, Hannah, Monheit, Sean Heather, Evelyn Hockstein Morgan Harper, Harper, Elizabeth Warren, Andrea Shalal, Diane Bartz, Leah Douglas, Leslie Adler, Heather Timmons, Daniel Wallis, Diane Craft Organizations: White House Competition Council, WASHINGTON, White, Biden, House, Competition, National Economic Council, Reuters, U.S . Chamber of Commerce, Competition Council, REUTERS, Consumer Financial, Bureau, American Economic Liberties, Big Tech, Google, Democratic, Federal Trade Commission, Department of Agriculture, D.C, Thomson Locations: U.S, Washington , U.S, Washington

☆ U.S. climate envoy John Kerry hints at potential Xi-Biden meeting
▼ + stars: | 2023-07-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

U.S. special presidential envoy for climate, John Kerry, said U.S. President Joe Biden and Chinese President Xi Jinping could meet later in 2023. BEIJING — John Kerry, special presidential envoy for climate, said Wednesday that U.S. President Joe Biden and Chinese President Xi Jinping could meet later this year. Kerry was referring to the Asia-Pacific Economic Cooperation Leaders' Summit — set to be held in San Francisco in November. There's a potential for Xi to visit the U.S. for the summit, and meet with Biden during that time. Han did not specifically mention such a Xi-Biden meeting in his opening remarks.

Persons: John Kerry, Joe Biden, Xi Jinping, BEIJING — John Kerry, Kerry, Han Zheng, There's, Xi, Han, Biden Organizations: APEC, Economic Cooperation, Biden Locations: BEIJING, San Francisco, China, Asia

☆ White House: Russia may attack civilian shipping in Black Sea
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, July 19 (Reuters) - The White House warned on Wednesday that Russia may expand its targeting of Ukrainian grain facilities to include attacks against civilian shipping in the Black Sea. Adam Hodge, White House National Security Council spokesperson, said U.S. officials have information indicating Russia laid additional sea mines in the approaches to Ukrainian ports. "We believe that this is a coordinated effort to justify any attacks against civilian ships in the Black Sea and lay blame on Ukraine for these attacks," he said. Hodge said Russia had announced that all ships proceeding to Ukrainian ports in Black Sea waters would be considered potential carriers of military cargo and said U.S. information indicated Russia had laid additional sea mines in the approaches to Ukrainian ports. Ukraine accused Russia on Wednesday of damaging grain export infrastructure in "hellish" overnight strikes focused on two of its Black Sea ports, vowing not to be intimidated from working to keep grain exports moving out of them.

Persons: Adam Hodge, Hodge, Steve Holland, Sandra Maler Organizations: White, National Security Council, Russia, Thomson Locations: Russia, Ukraine, Ukrainian, Odesa

☆ Yellen does not see recession in U.S. - Bloomberg interview
▼ + stars: | 2023-07-17 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

WASHINGTON, July 17 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Monday the United States was making good progress in bringing inflation down and she did not expect the U.S. economy to enter into a recession. "For the United States, growth has slowed, but our labor market continues to be quite strong. I don't expect a recession," Yellen said. Yellen downplayed the prospect for U.S. tariff cuts or reductions as part of the Biden administration's push to reestablish relations with Beijing. Reporting by Andrea Shalal and Katharine Jackson; Editing by Angus MacSwan and Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen, Yellen, Biden, we've, Gina Raimondo, Andrea Shalal, Katharine Jackson, Angus MacSwan, Andrea Ricci Organizations: . Treasury, Bloomberg TV, Thomson Locations: United States, U.S, India, China, Beijing, Washington

☆ Insatiable Djokovic ready for ultimate showdown with Alcaraz
▼ + stars: | 2023-07-14 | by ( Pritha Sarkar | ) www.reuters.com time to read: +5 min

"Maybe some people think that it would be a huge relief for me winning Roland Garros, being the only men's tennis player with 23 slams. Alcaraz admitted that the stress and tension of facing Djokovic brought on the debilitating cramps that ruined his chances of winning that showdown just five weeks ago. Djokovic, locked at 1-1 in their head-to-head record, was looking forward to the challenge too. We're both playing well," added Djokovic as he looks to become the oldest man in the Open Era to win the grasscourt major. It's going to be a great challenge, greatest challenge that I could have at the moment from any angle really: physical, mental, emotional."

Persons: Novak, Carlos Alcaraz, Djokovic, Rafael Nadal, Roland Garros, It's, Roger Federer's men's, Margaret Court's, Alcaraz, John McEnroe, Federer, Nadal, Daniil Medvedev, cramp, We're, Pritha Sarkar, Ken Ferris Organizations: Court, Wimbledon, NATO, Serbian, Thomson Locations: Serbian, Belgrade, Spanish, Paris

☆ U.S. Virgin Islands Seeks $190 Million From JPMorgan in Epstein Lawsuit
▼ + stars: | 2023-07-14 | by ( Matthew Goldstein | More About Matthew Goldstein | ) www.nytimes.com time to read: +1 min

The government of the U.S. Virgin Islands said in a court filing on Friday that it is seeking at least $190 million in penalties from JPMorgan Chase for the bank’s failure to detect and report the sex trafficking operation run by the disgraced financier Jeffrey Epstein in the U.S. territory. Lawyers for the Virgin Islands disclosed the sum in a legal filing in response to a request from the federal judge in Manhattan overseeing the lawsuit it filed against JPMorgan last year, which claimed that the bank turned a blind eye to Mr. Epstein’s activities. In the filing, the Virgin Islands’ attorney general’s office said it also wants the nation’s largest bank to put in new policies to prevent it from providing financial services to human traffickers. “We are pursuing this enforcement action because JPMorgan Chase’s institutional failure enabled Jeffrey Epstein’s sex trafficking,” said U.S. Virgin Islands Attorney General Ariel Smith in a statement.

Persons: Jeffrey Epstein, Jeffrey Epstein’s, ”, Ariel Smith Organizations: U.S . Virgin Islands, JPMorgan Chase, Lawyers, Virgin Islands, JPMorgan Locations: U.S, Manhattan

☆ U.S. Virgin Islands seeks at least $190 million from JPMorgan Chase in Jeffrey Epstein case
▼ + stars: | 2023-07-14 | by ( Dan Mangan | ) www.cnbc.com time to read: +6 min

The government of the U.S. Virgin Islands in a court filing Friday estimated that it will seek damages of at least $190 million from JPMorgan Chase in a lawsuit accusing the big bank of facilitating sex trafficking by its former long-time customer Jeffrey Epstein. The Virgin Islands also said it wants an order requiring JPMorgan to take a series of steps to protect young women and girls from other predators in the future. The filing says the Virgin Islands wants at least $150 million in civil penalties alone. JPMorgan in its own court filings has accused the Virgin Islands itself of being "complicit in the crimes of Jeffrey Epstein." Last month in the same court where the Virgin Islands is suing the bank JPMorgan agreed, without admitting wrongdoing, to pay $290 million to victims of Epstein to settle a suit by one of his accusers.

Persons: Jeffrey Epstein, Epstein, Jed Rakoff, Jeffrey Epstein's, JPMorgan Chase, Ariel Smith, Smith, Patricia Wexler, JPM, Virgin, Sergey Brin, Bill Gates, Lex Wexner, Glenn Dubin, Donald Trump, Bill Clinton, Prince Andrew of Great Organizations: New York State Division, Criminal, Services, Reuters, U.S . Virgin, JPMorgan Chase, Virgin, JPMorgan, Virgin Islands, Google, Microsoft, Limited Brands, Deutsche Bank, New York state's Department of Financial Services Locations: U.S, Manhattan, United States, Virgin, Eastern, Prince Andrew of Great Britain, Florida, New York

☆ Biden administration forgives $39 billion in student debt for more than 800,000 borrowers
▼ + stars: | 2023-07-14 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

President Joe Biden announces new actions on June 30, 2023 to protect borrowers after the Supreme Court struck down his student loan forgiveness plan. The relief is a result of fixes to the student loan system's income-driven repayment plans . The Biden administration announced on Friday it would automatically forgive $39 billion in student debt for 804,000 borrowers. To bring people over the line for forgiveness, the Biden administration counted payments for borrowers who'd paused their payments in certain deferments and forbearances and those who'd made partial or late payments. The announcement comes weeks after the Supreme Court struck down President Joe Biden's sweeping student loan forgiveness plan, which would have delivered relief to about 37 million people.

Persons: Joe Biden, Biden, Education Miguel Cardona, who'd, Joe Biden's Organizations: Education, The Education Department

VILNIUS, July 11 (Reuters) - Washington will move ahead with the transfer of F-16 fighter jets to Turkey in consultation with Congress, U.S. National Security Adviser Jake Sullivan said on Tuesday, a day after Ankara gave the green light for Sweden to join NATO. He intends to move forward with that transfer," Sullivan told reporters, without giving any details on the timing. Both Turkish officials and the Biden administration have rejected any suggestion that Ankara's approval of Sweden's NATO accession was being linked to the F-16 sale in the months of talks to address Turkish opposition. Russian officials said Sweden's expected accession to NATO would have "negative implications" for Russia's security and that Moscow would have to respond. TIMING UNCERTAINThe timing of both the F-16 transfer and Sweden's NATO entry remains unclear.

Persons: Jake Sullivan, Sullivan, Joe Biden, Bob Menendez, Biden, Tayyip Erdogan, Camille Grand, Erdogan, Gerard Araud, Sweden's, Peter Szijjarto, Jens Stoltenberg, Steve Holland, Justyna, John Irish, Nick Macfie, Heather Timmons, Devika Organizations: U.S . National, NATO, Lockheed Martin Corp, Senate Foreign Relations, Democrat, Turkish, European Council, Foreign Relations, Twitter, Kurdistan Workers Party, EU, Monday, Finland's, Nordic, Thomson Locations: VILNIUS, Washington, Turkey, U.S, Ankara, Sweden, Lithuanian, Vilnius, NATO, French, Swedish, United States, Turkey's, Moscow, Hungary, Finland, Ukraine

☆ Stocks making the biggest premarket moves: JetBlue, Zillow, JPMorgan Chase, 3M and more
▼ + stars: | 2023-07-11 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

JPMorgan Chase — The Wall Street heavyweight added 1.2% in premarket trading after an upgrade from Jefferies to buy from hold on Tuesday. U.S. Bancorp — Shares of the Minnesota-based bank gained 2.2% following an upgrade to buy from neutral by Bank of America. 3M — Shares rose nearly 2% in premarket trading following an upgrade to neutral from underperform by Bank of America. Shares of Zions fell 1.5% in premarket trading, while Truist's were down 1%. The biotech company on Monday said the pricing of its underwritten public offering, of 20 million shares of common stock, would be at $7.50 per share.

Persons: New York John F, Piper Sandler, Thomas Champion, JPMorgan Chase, Ebrahim Poonawala, Wells Fargo, Jefferies, Truist's, Iovance Biotherapeutics, —, Jesse Pound, Alex Harring, Samantha Subin, Brian Evans, Sarah Min, Michael Bloom Organizations: JetBlue Airways Airbus, New York, Kennedy International Airport, JetBlue Airways — JetBlue Airways, JPMorgan, Wall, Jefferies, U.S . Bancorp, Bank of America, Bancorp, Amazon Web Services, Prime, Zions Bancorp Locations: New, USA, U.S, Minnesota, underperform

REUTERS/Kim... Read moreLONDON/WASHINGTON, July 10 (Reuters) - When it comes to taking stock of global emissions, there's an elephant in the room: the world's armed forces. NATO, the 31-country Western security alliance, for example, told Reuters it has created a methodology for its members to report their military emissions. And Washington sent U.S. Army and Navy representatives to the COP27 climate summit in Egypt last year, the first time a Pentagon delegation has attended the global climate summit. Ukraine's environment ministry spokesperson said it supports the efforts and would seek backing from governments at COP28 for more transparent military emissions reporting. In the meantime, global military emissions will remain poorly understood, said Stuart Parkinson, executive director of the group Scientists for Global Responsibility.

Persons: Kim, Queen Mary, Axel Michaelowa, Meredith Berger, Neta Crawford, Deborah Burton, Lennard, Klerk, James Appathurai, Markus Ruelke, Stuart Parkinson, Sarah McFarlane, Valerie Volcovici, Sabine Siebold, Richard Valdmanis, David Clarke Organizations: REUTERS, Observatory, United Arab Emirates, UNFCCC, COP28, NATO, Reuters, Washington, U.S . Army, Pentagon, U.S . Navy, The, U.S . Defence Logistics Agency, U.S . Department of Defense, Oxford University, Oxford, Queen Mary University of London, Scientists, Global, Thomson Locations: South Korea, U.S, Pocheon, WASHINGTON, Kyoto, Paris, Lancaster, Oxford, Dubai, UAE, Zealand, Britain, Germany, Egypt, The U.S, Afghanistan, Iraq, Ukraine, Singapore, Switzerland, Syria, COP28, Berlin

☆ Broadcom to invest in a $1 billion EU-funded chip programme in Spain
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +1 min

MADRID, July 7 (Reuters) - U.S. chipmaker Broadcom (AVGO.O) will invest in a European Union-funded programme to develop a semiconductor industry in Spain, Chief Executive Charlie Kawwas said late on Thursday. "Excited to announce our decision to invest in Spain's semiconductor ecosystem under their semiconductor support program," Kawwas said on his Twitter account. The project in which Broadcom would be involved could be worth $1 billion, the Spanish economy ministry said in an emailed statement. Broadcom did not say how much it would invest. Prior to Broadcom, the Spanish government had said U.S. tech giant Cisco Systems Inc. (CSCO.O) was planning to open a new chip design centre in the northeastern Spanish city of Barcelona.

Persons: Charlie Kawwas, Kawwas, Inti Landauro, Belen, Mark Potter Organizations: chipmaker Broadcom, Broadcom, Cisco Systems Inc, EU, Thomson Locations: MADRID, Union, Spain, Spanish, Europe, Barcelona

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