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CNN —Violent clashes between police and protestors have broken out in Nairobi, Kenya on Thursday as a government vote on a controversial finance bill gets underway. Parliament has been sealed off since Thursday morning with roads around it blocked as lawmakers debate the Finance Bill inside. Police are breaking up peaceful protesters with tear gas and water cannons around the city center in Nairobi. Festo Lang/CNNCNN has met protesters as young as 18 who say they’re fighting for their future. Look at the tears of the women in the country of Kenya,” one young man told CNN’s Larry Madowo.
Persons: Anger, Festo Lang, Ruto, , CNN’s Larry Madowo, Young Organizations: CNN, Police, CNN CNN Locations: Nairobi, Kenya, East
CNN —Georgia’s parliament has voted to override the presidential veto of a Russian-inspired “foreign agent” law, defying fierce protests at home and criticism abroad. The ruling Georgian Dream party has for weeks tried to force through the “foreign agent” law, likened by critics to a measure introduced in Russia to stifle dissent. Protesters stare down riot police outside the Georgian Parliament. Irakli Gedenidze/ReutersResponding to Tuesday’s vote, Lithuanian foreign minister Gabrielius Landsbergis said it marked “a very sad day” for Georgia and the rest of Europe. But the government reintroduced the same bill in March and this time refused to cave to public pressure, despite a month of renewed protests.
Persons: CNN —, Salome Zourabichvili, , I’m, Sen, Jeanne Shaheen, Irakli Gedenidze, Gabrielius Landsbergis, , Natalie Sabanadze, , Sabanadze Organizations: CNN, European, Georgian, United, Locations: Russian, Georgian, Russia, Soviet, European Union, United States, Georgia, New Hampshire, Europe
Premier League clubs are set to hold a vote at their annual general meeting next month on a proposal to abolish the video assistant referee (VAR) system from the start of next season. A Wolves statement said the move came “after careful consideration and with the utmost respect for the Premier League, (referees body) PGMOL and our fellow competitors. “However, after five seasons of VAR in the Premier League, it is time for a constructive and critical debate on its future. GO DEEPER Should Premier League clubs vote to scrap VAR? Has VAR worked in the Premier League?
Persons: , Shaun Botterill, , Liverpool’s Luis Diaz, Mikel Arteta, Anthony Gordon’s, , — PGMOL, Stuart Attwell, Diaz’s, Marc Atkins, Fredrik Reinfeldt, Phil Buckingham, Tony Scholes, Scholes, Johan Lindvall, David Rogers Organizations: Premier League, Wolverhampton Wanderers, , ” Wolves, Premier, Tottenham Hotspur, Arsenal, Newcastle United, Nottingham Forest, Everton, International Football Association Board, Swedish Football Association, Premier League’s, Allsvenskan, Europe’s, Swedish Professional Football Leagues, Getty Locations: Harrogate, Sweden, , Russia, “ Sweden
CNN —Georgia’s parliament is set to pass a highly controversial so-called “foreign agents” bill that has triggered widespread protests across the former Soviet republic nestled in the Caucasus Mountains. Here’s what you need to know about the proposed law and the uproar it has caused. The bill would require organizations receiving more than 20% of their funding from abroad to register as “agents of foreign influence” or face crippling fines. About 50,000 protesters gathered in Tbilisi to protest the proposed legislation on Sunday. The proposed law is modeled after a similar one in Russia that the Kremlin has used to increasingly snuff out opposition and civil society.
Persons: CNN —, Salome Zourabichvili, Irakli Kobakhidze, Bidzina Ivanishvili, Vano Shlamov, Ivanishvili, they’ve, Georgia’s, Kobakhidze, Mirian, Jake Sullivan, , Dmitry Peskov, , Ursula von der Leyen, Anna Chernova Organizations: CNN, Getty, European, House, Washington, Georgian, EU, Locations: Soviet, Caucasus, Tbilisi, Here’s, Georgian, Georgia, AFP, Russia, Europe, Ukraine, Soviet Union, European Union, Georgia’s, Didn’t Georgia, Anadolu, backsliding, George, Brussels, “ Georgia
CNN —After spending his days making wine in the foothills of the Caucasus Mountains, Tsotne Jafaridze returns home to Tbilisi, Georgia’s capital, and begins his new routine. Jafaridze, who also owns a travel business and says he receives 95% of his income from foreign sources, says he would “immediately” be listed as a foreign agent under the broadly-written law. But the government reintroduced the same bill in March and appears determined to force it through, despite protests that grow fiercer every week. Despite recent Russian aggression against Georgia, Georgian Dream has long been accused of harboring pro-Russian sympathies and its billionaire founder, Bidzina Ivanishvili, made his fortune in the Soviet Union. Bidzina Ivanishvili addresses a rally in support of the "foreign agent" law in Tbilisi, April 29, 2024.
Persons: Jafaridze, , Vladimir Putin, , Giorgi Arjevanidze, isn’t, ” Natalie Sabanadze, , Levan Khabeishvili, Khabeishvili, Bidzina Ivanishvili, ” Buziashvili, Ivanishvili, Bidzina, Shakh, Sabanandze, Irakli Kobakhidze, Kobakhidze, ” Sabanadze, Viktor Orban, Europe’s, Matthew Miller, Washington, Georgia “, Irakli Gedenidze, Viktor Yanukovych, doesn’t Organizations: CNN, European Union, Getty, EU, United National Movement, National Security Council, Soviet Army, Soviet Union, Belarus ’, Party, Georgian, Conservative Political, United, State Department, Protesters, Reuters Locations: Caucasus, Tbilisi, Georgia’s, Russia, Georgian, Russian, Soviet, AFP, Brussels, Georgia, Belarus, Ukraine, Soviet Union, Hungary, Hungarian, United States, stoke,
The scope of Israel’s military response to Iran’s first-ever direct attack on the country remains murky. Israeli officials have yet to publicly acknowledge responsibility for reported overnight explosions in parts of Iran on Friday. Iran may be downplaying what was likely to have been a significant but limited Israeli attack, but that seems to be secondary to the larger forces at play. The latest flare-up brought the stakes into sharp focus, but it also exposed the limits of a direct confrontation between Iran and Israel. Remember: What happens between Iran and Israel rarely stays between Iran and Israel.
Persons: Iran’s Organizations: CNN, Washington Locations: Iran, Tehran, Israel, Damascus
House Speaker Mike Johnson arrives to speak with reporters to discuss his proposal of sending aid to Ukraine, Israel and Taiwan on April 17, 2024. Johnson, although a bona fide conservative and a skeptic at times of Ukraine aid, is finally on the cusp of getting the vote done in the House. This week, Iran responded to Israel’s strike on a Syrian diplomatic facility with its own strikes, which Israel responded to on Friday with a strike on Iran. Joe Biden is running hardWith all the Trump trial coverage, you might have missed that President Joe Biden is running a spirited presidential campaign. While Trump is spending most days at his trial, Biden is going all over the map.
Persons: Trump’s, you’ve, Donald Trump, Trump, Mike Johnson’s, Marjorie Taylor Greene, Thomas Massie of Kentucky, Paul Gosar, Arizona –, Johnson, Mike Johnson, J, Scott Applewhite, he’ll, It’s, Israel, Here’s Tamara Qiblawi, CNN’s Nic Robertson, Read, Joe Biden, Biden, Andrew CAballero, Reynolds, Pierre, Olivier Gourinchas Organizations: CNN, Trump, , GOP, White, Getty, Monetary Fund, Federal Reserve Locations: Antarctica, New York, Ukraine, Israel, Taiwan, Johnson, Marjorie Taylor Greene of Georgia, Arizona, Iran, Syrian, CNN’s, Damascus, Qiblawi, Philadelphia, Wawa, Pittsburgh, Pennsylvania, AFP, Europe
Iran may be downplaying what was likely to have been a significant but limited Israeli attack, but that seems to be secondary to the larger forces at play. The latest flare-up brought the stakes into sharp focus, but it also exposed the limits of a direct confrontation between Iran and Israel. As part of Iran’s retaliatory attack on Israel, its weapons navigated over at least two neighboring countries that house US bases. What happens between Iran and Israel rarely stays between Iran and Israel. US forces had shot down more than 70 of Iran’s weapons as they headed to Israel.
Persons: Iran’s, CNN’s Nic Robertson, Israel, , Ebrahim Raisi’s, Israel’s, Itamar Ben Gvir, Organizations: Lebanon CNN, Iran’s, Anadolu, Washington, United, United Arab Emirates, National Locations: Beirut, Lebanon, Iran, Tehran, Israel, Damascus, Syria, Iranian, Lebanon’s, Isfahan, Saudi Arabia, United Arab, Riyadh, China, Israel’s, Gaza, Iraq, Yemen
CNN —Georgia’s government is attempting to force through a controversial “foreign agent” law, despite international condemnation and huge protests from its citizens. Critics of the law say is it is a Kremlin-inspired effort to undermine democracy which will damage Georgia’s bid to join the European Union. The ruling Georgian Dream party first tried to pass the bill 13 months ago, but was forced into an embarrassing climbdown following a week of intense protests. Nearly 80% of Georgians support European integration, according to a poll conducted in December by the National Democratic Institute. Since Russia invaded Ukraine in February 2022, thousands of Russians – especially men of service age – have fled to Georgia to avoid conscription.
Persons: CNN —, , Vladimir Putin, Putin, ” Salome Zourabichvili, Zourabichvili, , Irakli Gedenidze, ” Giorgi Bekurashvili Organizations: CNN, European Union, South Caucasus, , Kremlin, EU, National Democratic Institute Locations: Soviet, Europe, United States, Tbilisi, Georgian, Russia, South, Russian, “ Russia, Georgia, Ukraine
Modi promised “a fresh start,” agreeing to meet the farmers’ demands and work with them to move forward. Police fire teargas to disperse farmers marching towards New Delhi during a protest at the Haryana-Punjab state border on February 21, 2024. It was a massive victory for the farmers, who pushed the Indian leader into a rare and uncharacteristic climbdown. The abject poverty and debt faced by many of India’s farmers has forced some to take extreme measures. “About 86% of Indian farmers are dependent on the markets.
Persons: Narendra Modi, Modi, , , Narinder Nanu, Devinder Sharma, Gurpreet, Prakash Singh, Arjun Munda, Sharma, ” Sharma, ’ Modi, Arati Jerath, Jerath, ” X Organizations: CNN, Police, Getty, Bharatiya Janata Party, BJP, Rapid Action Force, Bloomberg, Agriculture, India Brand Equity Foundation, country’s Department of Commerce, Farmers, “ Farmers, Roads Locations: New Delhi, Punjab, Haryana, AFP, Uttar Pradesh, China, India, Brazil, BJP, Pakistan, Bangladesh, Afghanistan, Shambhu, Patiala district
This confidence is echoed by other recent metrics, including a survey by Morgan Stanley showing that consumer sentiment hit a five-month high in January. Economists who spoke to CNBC Make It say it's likely the cumulative effect of wage growth, low unemployment and slowing inflation. "But with slowing inflation and strong wage growth, adjusted-for-inflation incomes are increasing, giving consumers more buying power," he says. Wages increased 5% in January 2024, a three-month moving average of nominal wage growth for individuals, as measured by the Atlanta Fed's Wage Growth Tracker. Wage growth, slowing inflation and low unemployment are the main factors for improved optimism among Americans, Ernest says.
Persons: Morgan Stanley, what's, Robert Johnson, Here's, Gus Faucher, Johnson, Jonathan Ernest, Ernest Organizations: of Michigan, Consumers, New York Federal Reserve, CNBC, Creighton University's Heider College of Business, PNC Financial Services Group, U.S . Department of, Treasury, Federal Reserve, Stock, Case Western Reserve University Locations: New, Atlanta
A general view of the Bank of England in the City of London, Britain, September 25, 2023. In making that call the BoE report focuses mostly on consumption, which it estimates makes up about 60% of GDP. As a result, the BoE expects the fallout from rate moves to date to "grow over time" even if one-off quarterly hits have peaked. And whatever the slow-burning hit to growth and consumption, inflation surprises could well change the increasingly comfortable markets picture. BOE chart on GDP outlookBOE chart on consumption hit from rate risesReuters Graphics Reuters GraphicsThe opinions expressed here are those of the author, a columnist for Reutersby Mike Dolan X: @reutersMikeD; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.
Persons: Hollie Adams, Huw Pill, what's, BoE, Modupe Adegbembo, Andy Burgess, BOE, Mike Dolan, David Evans Organizations: Bank of England, City of, REUTERS, Bank, Reuters, AXA Investment Managers, Thomson Locations: City, City of London, Britain, British
Meloni’s Italian job is a lesson for EU’s right
  + stars: | 2023-09-26 | by ( Lisa Jucca | ) www.reuters.com   time to read: +7 min
This is particularly true of Meloni’s surprise decision in August to tax what she called “unjust profits” by domestic banks. Ill-fated tax credits for building renovations introduced by a previous executive are expected to balloon to up to 150 billion euros, UniCredit analysts reckon. That’s 30 billion euros higher than what the current government predicted in April, or around 1.5% of GDP. That’s Meloni’s biggest Italian lesson for parties like Vox and AfD. CONTEXT NEWSThe Italian Treasury will present new economic targets on Sept. 28, which will be the framework for the country’s 2024 budget.
Persons: Spain’s, Benito Mussolini’s “, Rome ”, Ursula von der Leyen, Meloni, Vladimir Putin, , Silvio Berlusconi, Matteo Salvini – Meloni, , Mario Draghi’s, it’s, Giancarlo Giorgetti, Liz Truss, Meloni’s, Vox, Giorgia Meloni, Francesco Guerrera, Oliver Taslic Organizations: Reuters, NATO, European Union, EU, Commission, Economy, Italian Treasury, Thomson Locations: Rome, Italy, Ukraine, Kyiv, China, Greece, Brussels, British, Italian
London CNN —Banking stocks in Italy and elsewhere in Europe rebounded Wednesday after the country watered down a plan to whack its banks with a surprise one-off 40% tax on their windfall profits. The government’s climbdown eased investors’ fears over European banks more broadly. The Stoxx Europe 600 Banks index, which tracks 42 big banks in the European Union and the United Kingdom, gained 1.7% after shedding 3.5% the previous day. Late Monday, the government said it would impose a one-off windfall tax of 40% and would use the proceeds to support first-time home buyers and cut taxes for families and businesses. Several European countries, including Spain and the Czech Republic, have announced taxes on banks’ windfall profits in the past year as interest rate hikes by central banks have beefed up many lenders’ earnings.
Persons: , Giancarlo Giorgetti, Remo Casilli, Jeremy Hunt, Moody’s Organizations: London CNN — Banking, Banco, European Union, Reuters, Deutsche Bank, DB, Bank Locations: Italy, Europe, United Kingdom, Rome, Spain, Czech Republic
Following a slowdown in oil production due to the pandemic, consumer demand for gas soared in 2021. Coupled with the Russian invasion of Ukraine that limited oil supply, average prices for regular gas reached record highs of $5.02 in June 2022. However, with U.S. oil production on the rebound, average prices for regular gas have since fallen to $3.69 per gallon, based on American Automobile Association data. Despite rising inflation for most other items, television prices have been trending down for the last two years. Before the pandemic, the average cost for a dozen eggs was closer to $1.50.
Organizations: American Automobile Association, Yahoo Finance, P, U.S . Labor Locations: Ukraine, U.S
Still, any outstanding regulatory hurdle makes it more likely that the agreement between Microsoft and Activision will expire on July 18 without the deal having been completed. The FTC's court filing about the appeal gave no details, which will go before the Ninth Circuit Court of Appeals on the West Coast. The FTC may request a stay from the appeals court stopping the deal from closing. When U.S. antitrust agencies lose merger challenges in court, appeals are rare. The agency settled with the companies before the appeals court made a decision.
Persons: We’re, Brad Smith, Jacqueline Scott Corley, Corley, Diane Bartz, Diane Craft Organizations: U.S . Federal Trade Commission, Microsoft, Activision, Microsoft's, Ninth Circuit, FTC, Biden, Markets Authority, Japan's Nintendo, Foods, Oats, Thomson Locations: West Coast, San Francisco
"It is really an unprecedented and dramatic turn of events," said Alex Haffner, competition partner at UK law firm Fladgate. Becket McGrath, a partner at Euclid Law, said it seemed like the CMA wanted a way out of an "uncomfortable position". Still, with the larger $69 billion deal back on track, the two sides are now focused on modifying the deal to obtain regulatory approval. Jonathan Compton, partner at law firm DMH Stallard and a specialist in competition law, said it was difficult to see what structural alterations the company could make. Britain's competition regulator has not given any further clarification on its U-turn or the new investigation, including whether it would fit into its Phase 1 and 2 process, the latter of which can take up to a year.
Persons: Alex Haffner, Becket McGrath, Jonathan Compton, DMH, Euclid's McGrath, Sarah Cardell, Paul Sandle, Muvija, Martin Coulter, Amy, Jo Crowley, Kate Holton Organizations: Microsoft, Activision, Markets Authority, CMA, European Union, Euclid Law, Thomson Locations: United States, Devika
Wagner's aborted rebellion in Russia over the weekend was a chaotic mess that ultimately failed. That's the question anybody following the chaotic attempt by the Wagner mercenary group to stage a rebellion in Russia last weekend probably asked themselves. Prigozhin bailed on his plan, sent everyone home, and headed off to some kind of retirement in Belarus. The soldiers wouldn't need to look far for a motive: widespread hatred for defense minister Sergei Shoigu and army chief of staff Valery Gerasimov. Chief of the Russian General Staff Valery Gerasimov (L) and Russian Defence Minister Sergei Shoigu in late 2022.
Persons: Wagner's, Yevgeny Prigozhin, Prigozhin, , Wagner, Alexander Lukashenko, Associated Press Lukashenko, Sergei Shoigu, Valery Gerasimov, Staff Valery Gerasimov, Mikhail Metzel, Sergei Surovikin —, Gerasimov —, Surovikin, Putin Organizations: Service, Prigozhin Press, Associated Press, The New York Times, Times, Russian, Staff, Russian Defence, Sputnik, The Times, Shoigu, Street Locations: Russia, Rostov, Moscow, Russian, Belarus, Ukraine
These were 36 hours that provided a glimpse of the end of Russian President Vladimir Putin’s rule. Two hours earlier, Wagner were at the gates of the capital (almost), and then suddenly everything is forgiven. Did he accept entering the capital would leave his men vulnerable, even to a weak Russian military response? While on the surface, Prigozhin’s climbdown makes him appear weak, even finished, he has been the decision-maker over the past 36 hours. The most optimistic assessment you could make is that Russian military morale must have felt a hiccup while watching its commander-in-chief and most prominent military figure engage in a 24-hour game of chicken.
Persons: Vladimir Putin’s, Prigozhin, Alexander Lukashenko, Putin, Yevgeny Prigozhin, Dmitry Peskov, Wagner, climbdown, he’s, didn’t, Putin’s, Organizations: CNN, Kremlin, Justice, NATO, NATO – Locations: Moscow, Belarus, Minsk, Ukraine, Kazakhstan, Iran, Russia, Russian
UK car targets count on the kindness of strangers
  + stars: | 2023-03-30 | by ( ) www.reuters.com   time to read: +2 min
LONDON, March 30 (Reuters Breakingviews) - The UK has followed the European Union in watering down plans to phase out fossil fuel cars – sort of. UK car production has roughly halved since the Brexit vote to just 900,000 cars last year, according to Inovev data. The shift to electric vehicles will see carmakers want robust local battery supply chains and cheap energy, in which the UK is lagging. Sunak on Thursday announced support for the energy transition, and hinted at more money for carmakers “in the coming months”. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Goldman’s Marcus is a lesson in self-made failure
  + stars: | 2023-02-02 | by ( John Foley | ) www.reuters.com   time to read: +7 min
Being a consumer bank was a good idea when Goldman’s leaders cooked it up eight years ago. Fast forward to 2023, and consumer banking is still highly lucrative. The practice of working through the night is common in the investment banking division Solomon once headed but rare in consumer banking. For example, Goldman’s engineers had to fight to host consumer banking systems on the cloud rather than on the bank’s own servers. That year, nobody from the consumer bank was promoted to the firm’s prestigious partner level.
As Russia's war in Ukraine continues, there does not appear to be a clear end in sight. Russian victoryWhen it began its unprovoked invasion of Ukraine, Russia's goal was to take over the country completely. Rather than taking more territory, Russia's objectives in the current stage of war seem to be to weaken Ukraine's resources, economy, and army. Nuclear war and/or NATO interventionPutin has repeatedly made nuclear threats since he began the invasion of Ukraine and, in September, claimed that it was "not a bluff." One senior official previously said that a Russian nuclear strike could trigger a "physical response" from NATO itself.
Extreme backwardation implied traders expected the balance to remain tight, with a further drawdown of already depleted inventories, and more upward pressure on oil prices. In late November, after consultations with traders, the U.S. Treasury published regulations signalling a relatively relaxed approach to enforcement (“Guidance on implementation of price cap policy”, OFAC, Nov. 22). Following last-minute discussions, on Dec. 2 the cap was set at $60, with a commitment to review it by mid- January 2023 and every two months thereafter (“G7 agrees oil price cap”, European Commission, Dec. 3). SETTING THE PRICE CAP LEVELIn setting a price cap for Russia’s crude and products, U.S. and EU officials have been confronted by a menu of policy options and other considerations. Related columns:- Investors dumped Brent in anticipation of relaxed oil price cap (Reuters, Dec. 5)- Global recession a bigger risk to Russia’s oil revenue than price cap (Reuters, Nov. 11)- Recession would make tough oil sanctions on Russia more likely (Reuters, July 14)- Oil market confronts U.S. and EU policymakers with unpalatable choices (Reuters, June 29)John Kemp is a Reuters market analyst.
She died in hospital three days after being arrested by the country's morality police for allegedly breaking its strict dress-code laws. However, Iran's main state media agencies haven’t covered the remarks, potentially signaling they were not sanctioned by the political establishment. The morality police have not been prominent on the streets of Tehran and other cities for roughly two months. The United States was similarly skeptical that Iran is loosening its hijab laws, according to a senior Biden administration official. They said that it was possible the announcement was made to diminish attendance participation in the three days of strikes this week.
Following protests nationwide, some local Chinese authorities have started to ease Covid restrictions – in what appears to be a shift toward gradual reopening as the country nears entering the fourth year of the pandemic. “I feel like everyone’s hard work is paying off,” said a protester who took part in a demonstration in Beijing. “Policy flip-flop is common.”In some cities, the partial relaxation has caused confusion and chaos on the ground. In Beijing, public venues such as shopping malls and office buildings still require a 48-hour negative Covid test for entry. I don’t celebrate, I just remember those brave friends with gratitude,” a Beijing resident posted on Weibo, in a reference to the protesters.
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