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☆ Germany angers European neighbors as it tightens migration along all land borders
▼ + stars: | 2024-09-16 | by ( Sophie Tanno | ) edition.cnn.com time to read: +3 min

CNN —Germany has begun new controls at all of its land borders as part of a crackdown on migration, placing restrictions on a wide area of free movement known as the Schengen Zone and stirring anger among its European neighbors. From Monday, as well as existing border controls with Austria, Switzerland, the Czech Republic and Poland, Germany will now also have internal border controls with France, Luxembourg, the Netherlands, Belgium and Denmark. Berlin will have the power to reject people at all land borders, a statement from the Interior Ministry said. The move marks how far Germany has shifted in recent years on the flashpoint issue of migration. Under European Union rules, member states have the ability to temporarily reintroduce border control at internal borders in the event of a serious threat to public policy or internal security.

Persons: Angela Merkel, Maja Hitij, Nancy Faeser, Donald Tusk, “, ”, Chancellor Olaf Scholz, Ukraine – Organizations: CNN, Schengen, Interior Ministry, Union, Poland’s, Germany, Germany’s, Migration, ISIS Locations: Germany, Austria, Switzerland, Czech Republic, Poland, France, Luxembourg, Netherlands, Belgium, Denmark, Berlin, Kenya, Polish, Warsaw, Greece, Europe, East, Ukraine, Solingen

Japan's two largest commercial airlines are toughening their stances against travelers who verbally or physically abuse airline staff. Japan Airlines and All Nippon Airways updated their websites Friday with "customer harassment" policies, in the wake of rising instances of front-line worker abuse occurring across industries in Japan. "This has placed a significant burden on our employees, leading to cases where some have been forced to take leave," she said. Japan Airlines' policy also mandates airline staff to undergo harassment training — employees will be provided manuals detailing how to quickly and appropriately respond to "malicious" behavior. Both airlines' policies state that travelers who harass employers will be issued a warning, after which consequences can include denial of boarding and police involvement.

Persons: ANA's Yoshiko Miyashita Organizations: Japan Airlines, All Nippon Airways, CS, Nikkei Asia Locations: Japan

☆ France’s Far-Right Leader Says the National Rally Is Ready to Govern
▼ + stars: | 2024-06-24 | by ( Aurelien Breeden | ) www.nytimes.com time to read: +1 min

Jordan Bardella, the president of France’s far-right National Rally, insisted at a news conference on Monday that he would be a prime minister for all French people if his party won the country’s upcoming snap elections, even as he defended his party’s proposal to bar French citizens with dual nationalities from certain “sensitive” jobs. Mr. Bardella spent much of the event focusing on his priorities should he become prime minister — drastically reducing immigration, toughening sentences for those convicted of certain crimes and lowering energy prices — if his nationalist party won a snap election for France’s lower house of Parliament. The election was called this month by President Emmanuel Macron and is being held in two rounds, on June 30 and July 7. “We are ready,” Mr. Bardella told journalists at a marble-adorned venue in a plush neighborhood of Paris, as he sought to dispel criticism from Mr. Macron and from a new alliance of left-wing parties that the National Rally is unfit and unworthy to govern. While the National Rally is leading in the latest polls, ahead of the left-wing alliance and of Mr. Macron’s centrist alliance, it is unclear if the party will win enough of the lower house’s 577 seats to secure an absolute majority and form a government.

Persons: Jordan Bardella, Bardella, Emmanuel Macron, Mr, Macron Locations: France’s, Paris

☆ Biden’s China tariff threats are more bark than bite, economists say
▼ + stars: | 2024-04-11 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

U.S. President Joe Biden attends a bilateral meeting with Chinese President Xi Jinping at Filoli estate on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, in Woodside, California, U.S., November 15, 2023. REUTERS/Kevin LamarqueThe Biden administration this week sent several signals of a toughening U.S. economic strategy against China. Earlier in the week, Treasury Secretary Janet Yellen delivered tougher economic red lines on a visit to China. China has so far denied the overcapacity accusation as "groundless" and fired back that the U.S. is threatening protectionist trade policies to stifle global competition. "It remains unclear what this relationship will endure in the months and years ahead," Yellen said at a press conference in Beijing on Monday.

Persons: Joe Biden, Xi Jinping, Kevin Lamarque, Biden, Fumio Kishida, Kishida, Janet Yellen, Yellen, CNBC's Sara Eisen, Republican Donald Trump Organizations: Economic Cooperation, REUTERS, China, Japanese, U.S ., Biden, EU, U.S, Republican Locations: Filoli, Asia, Woodside , California, U.S, Washington, Japan, China, United States, Beijing

☆ France Plans to Restrict Unemployment Benefits in New Reform Push, PM Says
▼ + stars: | 2024-03-27 | by ( March | At P.M. | ) www.usnews.com time to read: +1 min

PARIS (Reuters) - France is planning to toughen unemployment rules by restricting the period when jobless citizens receive welfare payments, Prime Minister Gabriel Attal said on Wednesday. Outlining the government's plans to further reform the job market, Attal told TF1 television: "One of the options is to reduce the duration of payments. An unemployed worker aged 53 or less currently receives up to 18 months of benefits plus six months if jobs are scarce. The duration extends to 22-1/2 months plus 7-1/2 months for workers aged 53-54, and 27 months plus nine months for those over the age of 55. Other than shortening the duration of welfare payments, Attal also said the government was considering toughening the requirements to be eligible for unemployment benefits.

Persons: Gabriel Attal, Attal, Emmanuel Macron's, Tassilo Hummel, Timothy Heritage Organizations: PARIS, TF1 Locations: France

For decades, federal and state officials have struggled to control farm runoff, the biggest source of nutrient pollution that is not typically federally regulated. Water pollution from factories and industry is typically federally regulated. The Biden administration recently proposed toughening regulations on meat and poultry processing plants to reduce pollution, Wall said. When nutrient pollution flows into the Gulf of Mexico, it spurs growth of bacteria that consume oxygen. That affects the productivity of commercial fisheries and marine life in general, but nutrient pollution is also damaging upstream.

Persons: that's, It’s, ”, Olivia Dorothy, Tom Wall, Biden, Wall, Nancy Rabalais, Anne Schechinger, Gregory Klinger, Brad Carlson, Martin Larsen, He's, Larsen, ___ Walling, ___, Melina Walling Organizations: LOUIS, Environmental, Agency, Midwest, EPA, Louisiana State University, University of Minnesota, U.S . Department of Agriculture, Associated Press, Walton Family Foundation, AP Locations: Gulf of Mexico, Mississippi, Rhode Island, New Jersey, Midwest, Minnesota, Olmsted County, Chicago

☆ The biggest risks US businesses face in 2024
▼ + stars: | 2024-01-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +11 min

But, while businesses have plenty to be grateful for and much to be optimistic about, the coast isn’t clear. Last week, surveys from the National Federation of Independent Business (NFIB) and The Conference Board detailed the biggest risks that businesses are currently worried about. Here are some of the biggest risks for American businesses in 2024. Those financial stresses can reduce the willingness of banks to lend to others businesses and also to consumers,” she said. Bank earnings look really bad this quarter.

Persons: there’s, “, John Maynard Keynes, ”, ” Dana Peterson, Bill Dunkelberg, ” Peterson, ” Suzanne Clark, We’re, Mike Johnson, Chuck Schumer, Fitch, Clark, JPMorgan Chase, Nicole Goodkind, Krystal Hur, FactSet, Martin Luther King Jr, Morgan Stanley, Goldman Sachs Organizations: CNN Business, Bell, DC CNN, Federal, National Federation of Independent Business, Board, US, of Commerce, of American, Conference Board, Conference, CNN, Fed, Corporate, US Chamber of Commerce, chamber’s State of American, AAA, Moody’s Investors Service, US Chamber, Commerce’s, Google, Citigroup, Bank, JPMorgan, FactSet, Revenue, Profit, Federal Deposit Insurance Corporation, Valley Bank, Signature Bank, Bank of America, FDIC, Citi, China’s National Bureau of Statistics, Alcoa, National Statistics, US Commerce Department, US Labor Department, Federal Reserve, University of Michigan, National Association of Realtors Locations: Washington, Wells, Corporate America, chamber’s State, BlackRock, Amazon, Argentina, Japan

☆ Ukraine’s US lifeline is hanging by a thinning thread
▼ + stars: | 2023-12-05 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

In a grave blow to its prospects, Ukraine aid has now been embroiled by Republicans in a separate imbroglio over immigration. While Ukraine’s survival is at stake, so is the reputation of the United States as a global leader. Johnson may struggle to retain his tenuous hold on his job if he uses Democratic votes to pass a Ukraine funding package. The Ukraine aid package is now caught in the most intractable US political issue — immigration. “We are at a moment in history.”But a group of Republican senators who normally back Ukraine aid signaled Monday they couldn’t move forward without immigration changes attached to the measure.

Persons: Vladimir Putin’s, Joe Biden, Israel —, “, Jake Sullivan, Vladimir, ”, Sullivan’s, Shalanda Young, Mike Johnson, United States Oksana Markarova, CNN’s Wolf, Volodymyr Zelensky, Lloyd Austin, Zelensky, Donald Trump, Putin, Trump –, Republican Sen, Jim Risch of, “ Vladimir Putin, …, he’s, outlasting, ” Risch, Ben Hodges, ” Hodges, Johnson, Biden, Chuck Schumer, Texas Sen, John Cornyn Organizations: CNN, White, of Management, GOP, Wing, Kremlin, Trump, Republican, Intelligence and Foreign Relations, Halifax International Security, US Army, of, Republicans, Democratic, New York Democrat, Texas, Ukraine, US Defense Department, Internal Revenue Service, – Locations: Israel, Ukraine, Russian, U.S, United States, Russia, Moscow, North Korea, Iran, Kyiv, Washington, China, Jim Risch of Idaho, Canada, Ret, — Washington, Berlin, Paris, London, of America, Europe, Crimea, Ukrainian, Mexico, Taiwan

☆ Far-right parties eye gains in next year's EU parliament elections
▼ + stars: | 2023-12-03 | by ( Alvise Armellini | ) www.reuters.com time to read: +3 min

ROME, Dec 3 (Reuters) - European far-right parties met in Italy on Sunday vowing to reshape the European Union after next year's European Parliament elections, toughening the bloc's approach on immigration and softening its climate policies to protect jobs and industry. Parties from around a dozen countries gathered in Florence, galvanised by last month's general elections in the Netherlands, which handed a surprise win to Geert Wilders' anti-immigration Freedom Party (PVV). The far-right Identity and Democracy (ID) group is now the sixth-largest in the EU assembly, also behind liberal, green and conservative groups, but current polling data place it in fourth position. Salvini, who has failed to include in his alliance Prime Minister Giorgia Meloni and her poll-leading Brothers of Italy party, fronted a previous unsuccessful push in 2019 for a far-right breakthrough in EU elections. Wilders hailed Salvini, leader of the League party, as an inspiration and his "number one Italian friend."

Persons: Geert Wilders, Matteo Salvini, Salvini, Giorgia Meloni, Wilders, Tino Chrupalla, Jordan Bardella, righters, Chrupalla, Harald Vilimsky, Vladimir Putin, Chizu Organizations: European Union, Party, League, Marine, Austrian Freedom Party, Thomson Locations: Italy, European, Florence, galvanised, Netherlands, Europe, Germany, Africa, Austrian, Russia, Ukraine, Israel

People, including Russian law enforcement officers, walk near St. Basil's Cathedral and the Kremlin's Spasskaya Tower, as a pigeon flies over Red Square in central Moscow, Russia, March 20, 2023. It was not clear from Russian media reports which foreigners the draft legislation - if it becomes law - would apply to or what the punishment would be for not adhering to the "agreement" which foreigners would have to sign upon entry to Russia. The chairman of the Duma's CIS Affairs Committee said that the draft law was well advanced and was being worked on by the interior ministry, the government, the presidential administration as well as his committee. "The draft law on the so-called 'loyalty agreement' with migrants entering the Russian Federation is in a high degree of readiness," Leonid Kalashnikov told Interfax.

Persons: Evgenia, Vladimir Putin, Putin, Leonid Kalashnikov, Kalashnikov, Lidia Kelly, Guy Faulconbridge, Andrew Osborn, Nick Macfie Organizations: REUTERS, TASS, Russian Federation, Fatherland, Nazi, Opposition, State Duma, Duma's CIS, Committee, Thomson Locations: St, Basil's, Moscow, Russia, MOSCOW, Ukraine, Soviet, Berlin, Europe, Melbourne

Keir Starmer, leader of Britain's Labour Party, speaks during the Prime Minister's Questions, at the House of Commons in London, Britain November 15, 2023. But the backing of so many Labour lawmakers showed the levels of disquiet in the party over the Middle East conflict. Eight members of Starmer's 'shadow' ministerial team left their roles in order to defy the party position. But I wanted to be clear about where I stood, and where I will stand," Starmer said after the vote. A large protest by the Palestine Solidarity Campaign outside parliament demanding lawmakers back a ceasefire took place while the vote was going on.

Persons: Keir Starmer, Maria Unger, Handout, Rishi Sunak, Jess Phillips, Starmer, Elizabeth Piper, Kylie MacLellan, Deepa Babington Organizations: Britain's Labour Party, REUTERS Acquire, Labour, Scottish National Party, European Union, Palestine Solidarity Campaign, Thomson Locations: London, Britain, Israel, United States, Gaza, Britain's, Palestine

In Denver, the number of migrants arriving has increased tenfold and available space to shelter them has withered. With fewer available work authorizations, these migrants cannot find work that would allow them to get into proper housing. Denver Mayor Mike Johnston, who is leading the coalition, said nearly every conversation he has had with arriving migrants is the same: Can he help them find a job, they ask. He is increasingly under fire from members of his own party who are managing the growing number of migrants in their cities. “Our cities need additional resources that far exceed the amount proposed in order to properly care for the asylum seekers entering our communities," the mayors' letter says.

Persons: Joe Biden, Mike Johnston, ” Johnston, Biden, Johnston, Eric Adams, Karen Bass, Brandon Johnson, Chicago, Sylvester Turner, Houston Organizations: WASHINGTON, Democratic, The Associated Press, Denver, Republicans, Republican Locations: Chicago, Denver, Houston, Los Angeles and New York, In New York, U.S, Mexico, United States, New York, “, Los Angeles

☆ US appeals court keeps California assault weapons ban in force
▼ + stars: | 2023-10-29 | by ( Steve Gorman | ) www.reuters.com time to read: +3 min

Courtesy LBPD/Handout via REUTERS Acquire Licensing RightsLOS ANGELES, Oct 28 (Reuters) - A U.S. appeals court ruled on Saturday that California's assault weapons ban will remain in force while the state attorney general appeals a lower court decision declaring the 30-year-old measure unconstitutional. Bonta, a Democrat who called Benitez' decision "dangerous and misguided," welcomed Saturday's 9th Circuit order. California in 1989 became the first U.S. state to ban assault weapons, acting in the wake of a school shooting that killed five children and toughening the law the following year. Since then, California has restricted the manufacture, distribution, transportation, importation, sale or possession of firearms that qualify under the law as "assault weapons." But the 9th Circuit subsequently allowed that statute to remain in effect while the state appeals.

Persons: Roger Benitez, Rob Bonta's, Benitez, Saturday's, Bonta, Steve Gorman, Cynthia Osterman Organizations: Long Beach Police Department, REUTERS Acquire, U.S, Circuit, District, Thomson Locations: Long Beach, Long Beach , California, U.S, Handout, San Diego, California, Lewiston , Maine, San Francisco, Los Angeles

☆ Israel flashes geopolitical warning at shaky time
▼ + stars: | 2023-10-09 | by ( George Hay | ) www.reuters.com time to read: +4 min

The Kingdom’s rulers have historically supported Palestinian rights and opposed Israel, while waging proxy wars against Iran. Indeed, one motivation of the Hamas attacks may have been to provoke an Israeli response that derails those negotiations. At a time when the global economy needs inflationary geopolitical risks to simmer down, more are flashing red. In response, Israeli air strikes hit housing blocks, tunnels, a mosque and homes of Hamas officials in Gaza, killing more than 400 people, Reuters reported. President Joe Biden said on Saturday that Israel had the right to defend itself and issued a warning to Iran and other countries hostile to Israel not to exploit the attacks.

Persons: Benjamin Netanyahu’s, Joe Biden, Netanyahu, Saudi Crown Prince Mohammed bin Salman, Biden, toughening, Israel, Benjamin Netanyahu, “, Brent, Peter Thal Larsen, Thomas Shum Organizations: Reuters, Hamas, Iran, Saudi Crown, Sunday, Thomson Locations: Ukraine, United States, China, Israel, Gaza, Iran, Jerusalem, Tehran, Saudi Arabia, U.S, Saudi, Germany, Italy, Britain

☆ Poland will vote in a pivotal election next week. Its outcome will reverberate in Europe, Ukraine and the US
▼ + stars: | 2023-10-07 | by ( Rob Picheta | ) edition.cnn.com time to read: +11 min

Nonetheless, Poland remains in a powerful position in Europe, and this month’s vote could dramatically flip those dynamics. “Poland is a major player in Europe; it borders Ukraine, it has a major land army, substantial military spending, and is the key hub for supporting Ukraine,” Stola said. Poland pushed European partners to send Leopard battle tanks to Ukraine earlier this year. “One likely outcome is a coalition between PiS and Confederation, and that would be very bad news for Polish-Ukrainian relations,” Kucharczyk said. “Poland has very deep interests in supporting Ukraine,” Kucharczyk added.

Persons: White, Donald Tusk, Poland’s, –, ”, Tusk, ” Jacek Kucharczyk, ” Kucharczyk, Mateusz Morawiecki, Kacper Pempel, Piotr Buras, PiS, ” Buras, ” Dariusz Stola, Poland's, Omar Marques, ” Stola, “, Wojtek Radwanski Organizations: CNN, Justice, European, Tusk’s Civic Coalition, stoke, Public, Warsaw’s Institute of Public Affairs, European Council, Foreign Relations, Communist, EU, Warsaw, Institute of Political, Polish Academy of Sciences, Getty, ”, NATO, PiS, “ Locations: Poland, Ukraine, Brussels, Berlin, Polish, Warsaw, Hungary, Europe, Germany, Russia, ” Kyiv, Washington, Kyiv, AFP, “, Ukrainian, “ Poland

☆ California enacts first state tax on guns, ammunition in US
▼ + stars: | 2023-09-27 | by ( Steve Gorman | ) www.reuters.com time to read: +3 min

[1/4] A sign forbidding customers to bring guns inside is seen at the entry of a Whole Foods supermarket in Los Angeles, California, U.S., June 13, 2022. The California excise tax, due to go into effect in July 2024, will essentially add an 11% levy on top of the existing federal excise gun and ammo tax, a rate of 10 or 11%, depending on the type of weapon. Newsom's office said his action on gun safety also came in "the wake of shootings across the country that have left at least 104 people dead over the past 74 hours." "While radical judges continue to strip away our ability to keep people safe, California will keep fighting - because gun safety laws work," Newsom, a Democrat, said in a statement. The California excise tax would be collected on the gross receipts of manufacturers, retailers and dealers derived from gun and bullet sales in the state.

Persons: Lucy Nicholson, Gavin Newsom, Newsom, Steve Gorman, Michael Perry Organizations: Foods, REUTERS, Democratic, California, Association, Thomson Locations: Los Angeles , California, U.S, California, Los Angeles

☆ Defeating inflation without high unemployment is still unlikely
▼ + stars: | 2023-09-24 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

And the US economy’s surprising resilience, despite 11 rate hikes, has raised hopes of a soft landing becoming a reality. “I’ve always thought that the soft landing was a plausible outcome, that there was a path to a soft landing,” he said. But historical records show that a soft landing has only occurred once in the 1990s, or perhaps even a handful of times. The US Commerce Department releases its final estimate of second-quarter gross domestic product. The US Commerce Department releases August data on household income, spending, and the Fed’s preferred inflation gauge.

Persons: it’s, Jerome Powell, Powell, “ I’ve, ”, “, Powell’s, ” “ Jerome Powell, ” Quincy Krosby, Krosby, ” Krosby, Matt Egan, ” Neil Bradley, “ We’ve, Read, Christine Lagarde, Michelle Bowman, Austan Goolsbee, Lisa Cook, John Williams Organizations: CNN Business, Bell, DC CNN, Fed, LPL, CNN, Corporate, US Chamber of Commerce, European Central Bank, Costco, Global, Board, Survey, US Commerce Department, Micron, Nike, US Labor Department, National Association of Realtors, Carnival Corp, University of Michigan, New York Fed, China’s National Bureau of Statistics Locations: Washington

☆ Poland summons Ukrainian ambassador over Zelenskiy comments
▼ + stars: | 2023-09-20 | by ( Alan Charlish | ) www.reuters.com time to read: +4 min

REUTERS/Viacheslav Ratynskyi/File Photo Acquire Licensing RightsWARSAW, Sept 20 (Reuters) - Poland summoned Kyiv's envoy to the foreign ministry on Wednesday, after comments by Ukraine's president on a ban on grain imports angered the government in Warsaw, which is toughening its stance ahead of October elections. It said Jablonski also told Ambassador Vasyl Zvarych that "putting pressure on Poland in multilateral forums or sending complaints to international tribunals are not appropriate methods of resolving disputes between our countries". He did not name the countries although Kyiv has previously said the complaint targeted Poland, Slovakia and Hungary. Polish Agriculture Minister Robert Telus told state-run news agency PAP that he took Kachka's comments as a way of "calming down a certain atmosphere that had been building for two or three days". Reporting by Alan Charlish and Pawel Florkiewicz; editing by Christina Fincher, Tomasz Janowski and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

Persons: Viacheslav, Kyiv's, Ukraine's, Volodymyr Zelenskiy, Pawel Jablonski, V, Zelenskiy, Jablonski, Vasyl Zvarych, Florin Barbu, Mateusz Morawiecki, Morawiecki, Facebook Morawiecki, Taras Kachka, Robert Telus, Alan Charlish, Christina Fincher, Tomasz Janowski, Mark Heinrich Our Organizations: Russian, REUTERS, Rights, United Nations General Assembly Kyiv, General, European Commission, Romanian, Trade Organization, Poland's, Polsat, Facebook, Trade, RMF, Thomson Locations: Ukraine, Velykomykhailivka, Dnipropetrovsk region, Poland, Warsaw, Russia, Hungary, Slovakia, Moscow, Romania, Bulgaria, Kyiv, Republic of Poland

☆ US consumers are done splurging, Fed report suggests
▼ + stars: | 2023-09-07 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —After a summer of robust consumer spending, America’s bars, hotels and restaurants say the era of post-pandemic splurging by US consumers has likely drawn to a close. “Consumer spending on tourism was stronger than expected, surging during what most contacts considered the last stage of pent-up demand for leisure travel from the pandemic era,” the report said. Consumer spending rose 0.8% in July, the strongest monthly spending gain since January. But that strength in leisure spending began to level off toward the end of August, the latest Beige Book shows. Still, leisure spending varied by region, with some reporting a noticeable slowing and others saying it is holding steady.

Persons: ”, Taylor Swift, Barbie, “, Morgan Stanley, Goldman Sachs, Susan Collins Organizations: DC CNN, Federal Reserve, Warner Bros, Hospitality, “, Street, Fed, Boston Locations: Washington, Boston Fed’s, Atlanta Fed’s, York, Boston

☆ US antitrust regulator names Henry Liu to head competition unit
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

Federal Trade Commission seal is seen at a news conference in Washington, U.S., July 24, 2019. REUTERS/Yuri Gripas/File Photo Acquire Licensing RightsAug 22 (Reuters) - The U.S. Federal Trade Commission (FTC) said on Tuesday that Henry Liu, a partner at law firm Covington Burling, would be the new director of the commission's Bureau of Competition. "I'm excited to have Henry at the helm of the Bureau of Competition," Chair Lina Khan said in a statement. At Covington & Burling, where he worked for 14 years, Liu rose to be a partner in litigation and antitrust practices, according to the statement. Liu went to Yale Law School, graduating in 2007, according to his LinkedIn page.

Persons: Yuri Gripas, Henry Liu, Covington, Liu, Henry, Lina Khan, R, Guy Cole Jr, Bill Clinton, Diane Bartz, Ismail Shakil, Rami Ayyub, Cynthia Osterman Organizations: Federal Trade Commission, REUTERS, U.S . Federal Trade Commission, Competition, Meta's Facebook, Amazon.com, FTC, Big Tech, Justice Department, Albertsons, Covington &, Yale Law School, U.S ., Appeals, Sixth Circuit, Thomson Locations: Washington , U.S, commission's, Covington, Covington & Burling, Washington, Ottawa

☆ European Union agrees post-Brexit rules for hedge funds
▼ + stars: | 2023-07-21 | by ( Nell Mackenzie | ) www.reuters.com time to read: +3 min

LONDON, July 20 (Reuters) - The European Union said on Thursday it has reached a deal on revising its rules for managers of hedge funds and other alternative investments, easing industry fears of a post-Brexit crackdown on managers in London. Representatives of EU states and the European Parliament reached the deal overnight to update the bloc's Alternative Investment Fund Managers Directive (AIFMD) rules that cover investments in hedge funds, private equity, private debt funds and real estate funds. Under the agreement, European asset managers will have to disclose more details to regulators about their investments with private funds in the United States, Britain and other non-EU countries. But it stops short of toughening up "delegation" rules for managers outside the EU that pick assets for funds listed in the bloc. The agreement includes new rules on funds that issue new loans, including higher requirements to keep money aside to cope with liquidity demands in stressed markets.

Persons: Taggart Davis, Davis, Jiri Krol, AIMA, Deborah Zurkow, Nell Mackenzie, Huw Jones, Dhara Ranasinghe, Sharon Singleton Organizations: European Union, European, Investment, European Commission, Collective Investment, Securities, EU, Alternative Investment Management Association, Alternative Credit Council, Allianz Global Investors, Thomson Locations: London ., United States, Britain, London, Luxembourg, Dublin, Europe

☆ US economic growth expanded much faster in the first quarter than previously estimated
▼ + stars: | 2023-06-29 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —The US economy expanded at a much faster pace in the first three months of the year than previously estimated, the Commerce Department reported on Thursday. Gross domestic product, the broadest measure of economic output, rose by an annualized rate of 2% in the first quarter, up from the second estimate of 1.3%. Consumer spending accounts for about two-thirds of economic output and the latest estimate incorporated data from the Commerce Department’s Quarterly Services Survey. The revised trade flows contributed positively to GDP, with exports rising more than previously estimated while imports were revised down. And consumers might spend a bit more as the still try to recoup lost time or secure purchases they previously weren’t able to.

Persons: —, ”, Gregory Daco, Ernst & Young, “, Jerome Powell, Bill Adams Organizations: DC CNN, Commerce Department, Gross, Commerce Department’s Quarterly Services Survey, Ernst &, Fed, “ Consumers, Comerica Bank, CNN Locations: Washington

Global oil demand growth will trickle nearly to a halt in the coming years and peak this decade, according to the International Energy Agency, with Chinese consumption set to slow down after an initial pent-up recovery. "The shift to a clean energy economy is picking up pace, with a peak in global oil demand in sight before the end of this decade as electric vehicles, energy efficiency and other technologies advance," IEA Executive Director Fatih Birol said in a statement. Annual demand growth, however, will thin down from 2.4 million barrels per day this year to 400,000 barrels per day in 2028. Global supply capacity will rise by 5.9 million barrels per day to 111 million barrels per day by 2028 in IEA estimates, with growth lulling amid a U.S. slowdown. This will lead to a spare capacity cushion of 4.1 million barrels per day, focused in OPEC heavyweights Saudi Arabia and the UAE.

Persons: Fatih Birol Organizations: International Energy Agency, Organization of, Petroleum, U.S, Global, Saudi, IEA Locations: OPEC, Saudi Arabia, UAE, Russian, Russia

☆ Fed meeting June 2023: The Fed holds rates steady, pausing its rate-hiking campaign
▼ + stars: | 2023-06-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

The vote to skip a rate increase this meeting was unanimous. “Holding the target range steady at this meeting allows the Committee to assess additional information and its implications for monetary policy,” the statement said. Future policy moves depend on what economic indicators show in the coming weeks and months, including the resilient job market. Most officials in the Federal Open Market Committee, which sets monetary policy, expect the unemployment rate to rise to a range of 4-4.1% this year. “Tighter credit conditions for households and businesses are likely to weigh on economic activity, hiring and inflation,” according to the statement.

Persons: Banks Organizations: DC CNN, Federal Reserve, Fed, “, Market Committee, ” Locations: Washington

Despite recent execution blunders that have sent SentinelOne shares plunging by more than 35% over the past 12 months, Morgan Stanley thinks the market is now mispricing the cybersecurity company. Analyst Hamza Fodderwala upgraded shares to overweight from equal weight. The bank said SentinelOne has inherent value as a "long-term share gainer" with the potential for meaningful margin upside. The company's management execution has significantly weighed upon its material topline slowdown, according to Morgan Stanley. That said, Fodderwala thinks SentinelOne offers "a market-leading product and growing distribution channels" which could see more than 20% durable topline growth.

Persons: Morgan Stanley, Hamza Fodderwala, SentinelOne, Fodderwala, —, Michael Bloom

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