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☆ Images from the Solar Orbiter spacecraft reveal tiny flares shooting from a 'hole' in the sun. They could explain how the sun blasts Earth with charged particles.
▼ + stars: | 2023-08-26 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

AdvertisementAdvertisementPicoflares could be the source of the solar wind that's blasting EarthAn animation of the solar wind shows particles streaming from the sun towards Earth. That stream, called the "solar wind," gets supercharged when coronal holes or big solar flares are pointed at our planet. Seeing the sun up close, at smaller scales, could reveal its secretsImages from the Solar Orbiter are the closest ever taken of the sun. "Jets, in general, have previously been observed in the solar corona," Chitta, who led the Solar Orbiter study and a team at Max Planck Institute for Solar System Research, told Space.com. NASA/SDONASA and the ESA launched Solar Orbiter in 2020, with a goal of studying these winds at their source.

Persons: Lakshmi Pradeep Chitta, NASA's Parker, Chitta, Space.com, it's, Andrei Zhukov Organizations: Service, Orbiter, Solar Orbiter, NASA Solar Dynamics, NASA, Lights, EUI Team, ESA, CSL, MPS, UCL, Probe, Jets, Solar, Max Planck Institute, Solar System Research, European Space Agency, Royal Observatory of Locations: Wall, Silicon, Royal Observatory of Belgium, Brussels

[1/9] United Nations Interim Force in Lebanon (UNIFIL) members stand near their vehicles in Naqoura near the Lebanese-Israeli border, southern Lebanon, August 16, 2023. Israel and Hezbollah have avoided war across the Lebanese-Israeli frontier since their last major clash 17 years ago, deterred by mutual threats of destruction. The tensions come against the backdrop of a political crisis in Israel that has emboldened its enemies. Lebanon can ill afford conflict four years into a financial meltdown that has paralysed the state. Hezbollah last year gave its blessing to a maritime border deal with Israel that allows Lebanon to explore for offshore energy.

Persons: Aziz Taher, Israel, Tzachi Hanegbi, Hassan al, Baghdadi, Benjamin Netanyahu, Mohanad Hage Ali, General Lázaro, Andrea Tenenti, Tom Perry, Nick Macfie Organizations: United Nations Interim Force, REUTERS, Reuters, National Security, Iran's, Guards, Carnegie Middle East Center, West Bank, UNIFIL, Thomson Locations: Lebanon, Naqoura, Lebanese, Israel, JERUSALEM, BEIRUT, Iran, Syria, Ghajar, Western, Tel Aviv, Palestinian, Gaza, Jerusalem, Al, Aqsa, Beirut

☆ Maui wildfires: Woman says her husband is 'broken' by loss
▼ + stars: | 2023-08-16 | by ( Bill Weir | ) edition.cnn.com time to read: +3 min

Waiehu, Hawaii CNN —Two days before the Maui inferno, Brenda Keau’s husband Tony called his mom for a chat. The elderly woman’s home in Lahaina is gone, destroyed in the wildfires that swept across the Hawaiian island last week. And I don’t like seeing him like that because my husband is strong, loving,” Keau said. So I’m talking for him.”Keau said she feared arson when she saw smoke rising from the hills of upcountry Maui, from her home in Waiehu, in the north of the island on August 8. Evelio Contreras/CNNInland from Keau’s home, in the upcountry hills where she saw the smoke, a wildfire is still only 60% contained.

Persons: Brenda Keau’s, Tony, ” Keau, he’s, “, Evelio Contreras, ”, Keau, it’s, It’s, Kalopodes, Merrill Kalopodes, “ I’ve, ” Kalopodes Organizations: Hawaii CNN, CNN Investigations, CNN Inland, Maui County Fire Department, Volunteer, CNN Locations: Waiehu, Hawaii, Maui, Lahaina, upcountry Maui, Maui's upcountry, Maui County, Kula, Oahu

☆ Sen. Tommy Tuberville is still earning royalties from 'The Blind Side' as tensions flare over the truthfulness of the story 14 years after the movie's release
▼ + stars: | 2023-08-16 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Fourteen years after its release, Sen. Tommy Tuberville is still earning royalties from "The Blind Side." In the movie, Tuberville briefly plays the role of himself as he tries to recruit Michael Oher to commit to Auburn University. Oher recently filed court documents alleging that he was misled by the family who brought him. According to a recently-file annual report of his personal finances, Tuberville earned $1,750.55 in royalties in 2022 from "WB Studio Enterprises Inc." in connection to the movie. Oher recently alleged in court documents that he was "exploited" by the Tuohy family, who he said never actually adopted him.

Persons: Sen, Tommy Tuberville, Tuberville, Michael Oher, Oher, he's, —, Nick Saban, Ed Orgeron, Lou Holtz, Sandra Bullock, Leigh Anne Tuohy, Sean Tuohy, Michael Organizations: Auburn University, Service, WB, Enterprises Inc, National Football League Locations: Wall, Silicon, Tennessee

☆ Regional banks slide after Fed's Kashkari advocates 'significantly further' capital regulation
▼ + stars: | 2023-08-15 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis, speaks during an interview with Reuters in New York City, New York, May 22, 2023. Minneapolis Federal Reserve President Neel Kashkari favors getting tougher on regional banks, following a crisis earlier this year that he said may not be over. Regional bank shares fell as Kashkari spoke. Those banks holding longer-dated Treasurys faced capital losses as rates went up and bond prices fell. Should the Fed have to keep raising rates, that could affect banks in the same situation.

Persons: Neel Kashkari, Kashkari, Treasurys Organizations: Federal Reserve Bank of Minneapolis, Reuters, Minneapolis Federal, Regional Banking, Troubled Asset Relief, Bank Locations: New York City , New York, Minneapolis

☆ Maui wildfires: What we know about the deadliest US fire in over a century
▼ + stars: | 2023-08-14 | by ( Nouran Salahieh | ) edition.cnn.com time to read: +10 min

While firefighters have made progress against the three largest wildfires, the deadly fire in hard-hit Lahaina is still not fully under control, Maui County Fire Chief Brad Ventura said Saturday. Mike Blake/ReutersThe most destructive and deadly of the fires, the Lahaina wildfire, traveled at an extraordinary speed, the governor said in a video update Sunday afternoon. “When the winds rose up – winds gusting as high as 81 miles per hour – fires spread rapidly,” Green said. Lahaina is the hardest hit areaVideo Ad Feedback The Maui fires destroyed their homes. People are still missing and just 3% of area was searchedA caretaker photographs the site of a home destroyed by the Maui wildfires in Kula, Hawaii on Sunday.

Persons: CNN — Crews, what’s, Josh Green, “ It’s, Brad Ventura, Mike Blake, ” Green, “, Lori Moore, Merrell, Richard T, Bissen, Deanne Criswell, King Kamehameha III, Keith Hayashi, ” Hayashi, John Pelletier, Patrick T, Fallon, Pelletier, Mazie, Brittany Talley, Timm “ TK ” Williams, Williams, Talley, ” Talley, weren’t, we’ll, Anne Lopez, ”, Jim Kelly, ” Kelly Organizations: CNN, ”, Federal Emergency Management Agency, Maui County Fire, Maxar Technologies, FEMA, Sunday, Maui Police, National Fire Protection Association, People, Getty, Sen, Hawaiian Electric Industries, Hawaiian Electric Locations: Maui, ” Hawaii, Lahaina, Maui County, Kula, Hawaii, Lāhainā, Kula , Hawaii, AFP, Kaanapali

☆ The Artist and Mystic Who Collected the World
▼ + stars: | 2023-08-14 | by ( Dwight Garner | More About Dwight Garner | ) www.nytimes.com time to read: +1 min

“Who is Harry Smith? Facts about his life, especially his early life, are hard to come by. He was one of the great downtown New York figures of the second half of the 20th century. He wandered the world as if it were his personal shoreline. Smith was an ambassador from the territory Greil Marcus has delineated as the “old, weird America.”

Persons: Harry Smith, John Szwed, ” John Szwed, “, Smith, Walker Evans, James Agee, Evans, billy, Patti Smith, Szwed, Greil Marcus, ” Organizations: Folk, Chelsea Hotel Locations: New York, flophouses

☆ Israel's Netanyahu cools censure of protesting reservists as judicial crisis simmers
▼ + stars: | 2023-08-14 | by ( Dan Williams | ) www.reuters.com time to read: +3 min

Protest leaders say thousands of reservists have stopped reporting for duty. "Brothers in Arms", a reservist protester group, seemed unmoved by the gesture, accusing Netanyahu of playing down risks to military readiness. The Supreme Court will on Sept. 12 hear arguments against a bill limiting some of its powers to void government decisions, which was ratified in a parliament controlled by Netanyahu's religious-nationalist coalition. The military has so far acknowledged a "limited" impact from the reservist protest, citing the loss of some veteran instructors from the air force's flight school. As of now, the IDF (Israel Defence Forces) can handle its missions and the goal is to put this matter behind us," he said.

Persons: Benjamin Netanyahu's, Amir, Benjamin Netanyahu, Netanyahu, IMPACT Netanyahu, Amos Gilad, Tzachi Hanegbi, Dan Williams, Emelia Sithole Organizations: Arms, REUTERS, JERUSALEM, IMPACT, Army Radio, National, Army, IDF, Israel Defence Forces, Thomson Locations: Kiryat Ono, Israel, Iran, Lebanon, Israeli, Syria

☆ Fighting flares in South Darfur amid fears of new civil war
▼ + stars: | 2023-08-13 | by ( ) www.reuters.com time to read: +3 min

Chadian cart owners transport belongings of Sudanese people who fled the conflict in Sudan's Darfur region, while crossing the border between Sudan and Chad in Adre, Chad August 4, 2023. REUTERS/Zohra Bensemra/File PhotoAug 13 (Reuters) - Violence flared in the western Sudanese city of Nyala and elsewhere in the state of South Darfur on Sunday, witnesses said, threatening to engulf the region in Sudan's protracted war. The latest flare-up has lasted three days, with both the army and RSF firing artillery into residential neighbourhoods, witnesses told Reuters. At least eight people were killed on Saturday alone, according to the Darfur Bar Association, a national human rights monitor. The fighting killed 24 people, it said.

Persons: Chad August, Zohra, Meta, Volker Perthes, Khalid Abdelaziz, Nick Macfie Organizations: REUTERS, Rapid Support Forces, Reuters, Darfur Bar Association, International, Court, Thomson Locations: Darfur, Sudan, Chad, Adre, Sudanese, Nyala, South Darfur, Khartoum, West Darfur, Egypt, South Sudan, Dubai, Nafisa, Cairo

☆ A once-in-century solar storm could fry power grids and knock out satellites. Here's why scientists worry it could happen soon.
▼ + stars: | 2023-08-13 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +8 min

Most solar storms are pretty harmless, but every so often, the sun can send hugely powerful storms. The Carrington Event of 1859 is widely considered to be the most powerful solar storm ever recorded. A huge solar flare like this one anticipated the 1989 solar storm. Why scientists are concerned about the next solar peakThe sun's activity is currently growing, and scientists are particularly concerned about the ongoing solar cycle. With enough warning, operators can put in place measures to protect infrastructure from the worst effect of solar storms.

Persons: we've, Mathew Owens, Daniel Verscharen, it's, We've, we'd, Owens, Elon Musk's, Verscharen, Till Organizations: Service, NASA, University of Reading, Solar Dynamics, University College London, Heliospheric, Getty, NOAA, Elon, Elon Musk's SpaceX, Verscharen, European Space Agency Locations: Wall, Silicon, Quebec, Soviet Union, Russia, Canada, Sweden

KAHULUI, Hawaii, Aug 13 (Reuters) - Hawaii Governor Josh Green on Sunday called a part of the island of Maui that was devastated by wildfires a "war zone," as the death toll reached 93 and was expected to keep climbing. "We're at 93 (victims) now ... it's a war zone, but the help is incredible." The death toll made the blaze Hawaii's worst natural disaster, surpassing a tsunami that killed 61 people in 1960, a year after Hawaii became a U.S. state. [1/2]The shells of burned houses and buildings are left after wildfires driven by high winds burned across most of the town in Lahaina, Maui, Hawaii, U.S. August 11, 2023. Reuters Graphics'TOO GRIM'Authorities began allowing residents back into west Maui on Friday, although the fire zone in Lahaina remained barricaded.

Persons: Josh Green, Green, We'll, Joe Biden, Deanne Criswell, we've, a.m, Mike Blake, Marco Garcia, David Ljunggren, Jorge Garcia, Sandra Stojanovic, Maria Caspani, Joseph Ax, Daniel Wallis, Raju Gopalakrishnan, William Mallard, Paul Simao Organizations: MSNBC, Reuters Graphics Reuters, Sunday, National Fire Protection Association, Officials, Hawai'i Department of Land, Natural Resources, Federal Emergency Management Agency, FEMA, Reuters Graphics, Authorities, Facebook, Thomson Locations: KAHULUI, Hawaii, Maui, Lahaina, obliterating, it's, U.S, Paradise , California, Minnesota, Wisconsin, Maui County, Kula, Kahului, Honolulu , Hawaii

☆ Maui wildfires: Firefighting crews make progress against wildfires that killed at least 80 people, but flare-ups continue
▼ + stars: | 2023-08-12 | by ( Aya Elamroussi | ) edition.cnn.com time to read: +11 min

People in Kaanapali were evacuating Friday night after spotting a fire in the neighborhood, which is about 4 miles north of hard-hit Lahaina, Maui police said. The hall of the historic Waiola Church and the nearby Lahaina Hongwanji Mission are engulfed in flames in Lahaina, Hawaii, on Tuesday, August 8. Hawaii Department of Land and Natural Resources/AP Burnt boats sit in waters off of Lahaina, Hawaii, on Friday. Justin Sullivan/Getty Images In an aerial view, search and rescue crews walk through a neighborhood, continuing to search for missing people in Lahaina, Hawaii, on Friday. Phonoxaylinkham, his wife, and their five children were caught in the Lahaina wildfires and survived by exiting their car and spending four hours in the ocean as the west Maui wildfires raged around them.

Persons: Dora, Kihei –, Rick Bowmer, Richard Bissen, Josh Green, ”, Deanne Criswell, It’s, Anne Lopez, ” Lopez, Matthew Thayer, Mike Blake, Justin Sullivan, Zoltan Balogh, Zeran Harris, Robert Gauthier, Mengshin Lin, Evelio Contreras, CNN Vixay Phonxaylinkham, Lana, Phonoxaylinkham, Marco Garcia, Claire Rush, Myrna Ah Hee, Sui, Ty O'Neil, Ku'u Kauanoe, ZUMA, Patrick T, Fallon, Dustin Johnson, it’s, ” Steve Dolan, “, anything’s, what’s Organizations: CNN — Firefighters, Hawaii Gov, CNN, “, FEMA, Maui Police, Hawaii News, Maui News, Hawaii Department of Land, Natural Resources, . Hawaii Department of Land, Reuters, Los Angeles Times, AP, Washington Post, Kahului, Technologies, AP Hawaii Army National Guard, Hawaii National Guard, Reuters Residents, ZUMA Passengers, Getty Locations: Maui, Lahaina, Hawaii, Kaanapali, Maui County, Kihei, Upcountry, Lahaina , Hawaii, Upper Kula, Church, Lahaina Hongwanji, Kula, Waiola, Wailuku, Kula , Hawaii, Maalaea, Kahului, California, Las Vegas, AFP

☆ Fact Check-Photo does not show ‘attack’ causing Hawaii wildfires
▼ + stars: | 2023-08-11 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

Secrest told Reuters Fact Check that he took the picture on a frigid day and knew what he was seeing. I believe the last one was starting California wildfires....”The photo was taken from Baum Road in Canton Township, Secrest, who never visited Hawaii, told the Canton Repository in an Aug. 11 interview (here). Residents saw flames from Marathon refinery’s controlled flaring, the Canton Repository and Fox 8 reported (here), (here). Reuters Fact Check has previously addressed claims of a directed energy weapon used in wildfires or explosions, including the 2023 Canadian wildfires and a 2020 Nashville blast (here), (here). The photo has circulated online since January 2018, years before the Hawaii wildfires in August 2023.

Persons: Travis Secrest, Secrest, ”, ” Secrest, Read Organizations: National Weather Service, Reuters, Twitter, Facebook, Marathon Petroleum, Baum, Fox Locations: Ohio, Hawaii, Maui, Canton, Jan, California, Canton Township, Secrest, Michigan, Nashville

☆ PPI: US wholesale inflation rose more than expected in July
▼ + stars: | 2023-08-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

Minneapolis CNN —US wholesale inflation rose more than expected in July, reversing a yearlong cooling trend, the Bureau of Labor Statistics reported Friday. Services prices rose 0.5% from June, the highest monthly increase since March 2022 for the category, BLS data shows. Still more to comeThe report comes just one day after the Consumer Price Index showed that prices rose 3.2% annually in July. Similar base effects played their role in the headline PPI increase as well, noted Rankin. When stripping out the more volatile categories of food and energy, core PPI rose 2.4% annually in July.

Persons: Price, Kurt Rankin, ”, ” Rankin, Rankin, “, Matthew Martin, Oren Klachkin, Dow Organizations: Minneapolis CNN, of Labor Statistics, Refinitiv, PPI, Services, PNC Financial Services, CNN, “, Federal Reserve, Oxford, ” Energy, Fed, Federal Locations: Minneapolis, That’s

☆ Sun smacks Earth with 2 powerful, back-to-back X-class solar flares, knocking out radio signals across the US
▼ + stars: | 2023-08-11 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +3 min

The sun struck Earth with two powerful X-class solar flares in the past few days. So when high-energy solar radiation strikes, it can cause those radio signals to degrade. But a strong solar maximum can cause extreme space weather events, including back-to-back X-class solar flares like what recently occurred. This year's X-class solar flares have been on the lower end of the intensity spectrum, with the biggest, an X2.2, occurring in February. While this year's flares have routinely affected radio signals, a solar flare of X28 — like the one detected in 2003 — would be incredibly destructive for Earth's technology.

Persons: We've, Gizmodo, Keith Strong, Strong, it's, Space.com Organizations: Service, NASA Locations: Canada, Wall, Silicon

☆ Scenes From the Hawaii Fires and the Aftermath
▼ + stars: | 2023-08-11 | by ( The New York Times | ) www.nytimes.com time to read: 1 min

As the sun rose on Friday in Hawaii, firefighters were still working to fully contain flare-ups from the fast-moving wildfires that devastated the historic oceanside town of Lahaina and other parts of Maui. Emergency workers prepared to resume their search for victims in scorched areas. “The fire was just traveling too fast, and too hot, and next thing you know Lahaina town is gone, literally gone,” said Mark Stefl, whose house burned down and who lost a cat and a dog as he and his wife scrambled to escape the inferno. Josh Green of Hawaii said on Thursday that more than a thousand buildings had likely been destroyed by the fires, and that hundreds of families had been displaced. The death toll, at 55, was expected to climb, he said.

Persons: ”, Mark Stefl, Josh Green Locations: Hawaii, oceanside, Lahaina, Maui

☆ What We Know About the Wildfires in Hawaii
▼ + stars: | 2023-08-10 | by ( Adeel Hassan | More About Adeel Hassan | ) www.nytimes.com time to read: +1 min

A summer of ferocious weather across much of the United States reached the country’s most remote state on Wednesday, 2,500 miles off the West Coast, in Hawaii. What began at the start of the week as scattered brush fires on the state’s biggest islands, Hawaii and Maui, turned deadly by midweek. The rapid spread of the flames caught state officials and residents by surprise. Thousands of residents and tourists have been evacuated, and U.S. Army personnel were conducting search-and-recovery efforts on Thursday, Maui County officials said. There are still many road closures on Maui and the island of Hawaii.

Persons: Firefighters Organizations: U.S . Army Locations: United States, West Coast, Hawaii, Maui, California, Maui County

☆ Amazon employees are outraged by a new warning about individual office attendance: 'Is this supposed to scare people?'
▼ + stars: | 2023-08-10 | by ( Eugene Kim | ) www.businessinsider.com time to read: +5 min

Some Amazon staff got an email warning them about their office attendance records. The email and internal ticket also suggest that Amazon may be tracking individual office attendance records, even though it previously said it only saved "anonymized" data . Another said this is "peak absurdity" since most employees who received the warning email have been complying with the rules. One of the points added to the internal ticket said future communications should not include "gaslighting-like language" because "it does not come across well." As a reminder, you can find FAQs about working from the office on Inside Amazon News and My HR.

Persons: they've, I've Organizations: Amazon

Map: See Where the Hawaii Wildfires Spread in MauiKaanapali Hawaii Area of detail Approximate area of fires detected through Thursday MAUI Lahaina Launiupoko Hawaii Kaanapali Area of detail Lahaina MAUI Approximate area of fires detected through Thursday Launiupoko Source: New York Times analysis of NASA Fire Information for Resource Management System data Note: Darker areas indicate a higher confidence of fire activity. Wind-fueled wildfires that tore through the island of Maui in Hawaii on Tuesday and Wednesday have claimed at least 36 lives, forced the evacuation of thousands and decimated Lahaina, a historic tourist town. June 25 Aug. 9 Maxar TechnologiesTourists flock to Hawaii in large part for its tropical landscape and lush forests, but the state has also become increasingly vulnerable to wildfires. The area burned annually by wildfires in Hawaii has quadrupled in recent decades. Invasive grasses that are highly flammable have taken over native vegetation in some areas, and climate change has exacerbated dry and hot conditions that have allowed many wildfires to spread more quickly.

Organizations: New York Times, NASA, Resource Management, Maxar Technologies, U.S . Drought Locations: Hawaii, Maui Kaanapali Hawaii, Lahaina Launiupoko Hawaii Kaanapali, Lahaina MAUI, Maui, Lahaina, Maui County

☆ Falling prices in China could be a blessing in disguise for the world economy's ongoing fight against inflation
▼ + stars: | 2023-08-09 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

But falling prices there could end up being good news for the rest of the world. However, falling prices there aren't necessarily bad news for everyone else. In China, prices are falling rather than risingData from the National Bureau of Statistics published Wednesday showed China's factory-gate prices, as measured by the producer price index, plunging 4.4% year-on-year in July for a tenth straight month of declines. Falling prices in the world's second-biggest economy could "give central bankers in the US, UK and Europe pause for thought when they weigh up their next steps," according to AJ Bell investment director Russ Mould. So deflation in China might end up being bad news for Beijing – but a blessing in disguise for the rest of the world.

Persons: it's, China's, Hargreaves Lansdow n's, Steve Lansdown, AJ Bell, Russ Mould Organizations: Service, Privacy, Apple, Nike, Federal Reserve, National Bureau, Statistics, Beijing, Bank of England Locations: China, Wall, Silicon, Beijing, West, Saudi Arabia, Russia, Ukrainian

☆ Retailers are blaming organized theft for lower profits — but it's hard to tell if it's really rising
▼ + stars: | 2023-08-09 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +8 min

Lindsey Nicholson | Universal Images Group | Getty ImagesRetailers have zeroed in on organized retail theft as a top priority, as more and more companies blame crime for lower profits. Those mentions could flare up again as a flurry of retail companies will report financial results starting next week. Many of them described organized theft as an industrywide problem that's largely out of their control. While organized theft is a real concern, it is nearly impossible to verify the claims retailers make about it. Target has repeatedly said organized retail theft is fueling its inventory losses.

Persons: Lindsey Nicholson, Foot, Raphael Duguay, Duguay, Mark Cohen, Cohen, Bradlees Organizations: Universal, Getty, Retailers, U.S . Securities, Exchange Commission, Yale University School of Management, Columbia Business School, Sears Canada, Lazarus Department, National Retail Federation, Walgreens, Ucg, . Census, FBI, CNBC, Target Locations: Queens , New York

☆ Country Garden misses bond payments as China property fears flare
▼ + stars: | 2023-08-08 | by ( Clare Jim | ) www.reuters.com time to read: +2 min

The company logo of Chinese developer Country Garden is displayed at a news conference in Hong Kong, China March 20, 2018. REUTERS/Bobby Yip/File PhotoHONG KONG, Aug 8 (Reuters) - Country Garden (2007.HK) said on Tuesday it has not paid two dollar bond coupons due on Aug. 6, confirming market fears that the biggest privately owned developer in China is slipping into repayment troubles. The bonds in question are notes due on Feb 2026 and Aug 2030 , both with 30-day grace periods, investors said, citing prospectuses. Its Jan 2024 dollar bonds were traded at 18.331 cents on the dollar, according to Duration Finance, down from 25 cents on Monday. Last week, Country Garden aborted a $300 million share placement at the last minute saying it had not reached a 'final agreement' for the deal to go ahead.

Persons: Bobby Yip, HONG KONG, Clare Jim, Jason Xue, Muralikumar Anantharaman, Kim Coghill, Lincoln Organizations: REUTERS, HK, China Evergrande, Reuters, Finance, Thomson Locations: Hong Kong, China, HONG, Guangdong province, Shenzhen, Shanghai

☆ America's foes are teaming up to push the US military out of the Middle East, and it's messing up plans to fight terror
▼ + stars: | 2023-08-08 | by ( Jake Epstein | ) www.businessinsider.com time to read: +8 min

Russia and Iran are working together with Syria to ultimately push US forces out of the country. US officials and war experts say these efforts are hurting the international fight against ISIS. AP Photo/Baderkhan AhmadBoth Russia and Iran are allied with the brutal Syrian government led by President Bashar al-Assad. What are Russia, Iran, and Syria doing? In early July, a Russian fighter jet flew 18 close passes near American MQ-9 Reaper drones during a two-hour-long encounter.

Persons: Baderkhan Ahmad, Bashar al, Assad, Qassem Soleimani, Sabrina Singh, Singh Organizations: ISIS, Service, Islamic, Institute for, American Enterprise Institute, Syrian Democratic Forces, AP, Washington, Islamic Revolutionary Guard Corps, Force, Ukraine, American, Pentagon Locations: Russia, Iran, Syria, Wall, Silicon, Washington, Deir Ezzor, Moscow, Tehran, Iraq, Russian, Palmyra, Hasakah

☆ Don't rule out more interest-rate hikes, with the job market still looking strong
▼ + stars: | 2023-08-07 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The central bank will need to see more "signs that labor market conditions are loosening," governor Michelle Bowman said Saturday. But governor Michelle Bowman pushed back on Saturday, saying that additional hikes would probably be needed to bring inflation in line with the central bank's 2% target. Bowman flagged the labor market the same week a fresh batch of jobs data signaled the Fed might have more work to do to stop another flare-up in prices. "The recent jobs data is more or less in agreement with anecdotal evidence that a softening in the labor market is underway," UBS Global Wealth Management CIO Mark Haefele said in a note to clients Monday. "But elements of resilience in the jobs market mean that investors cannot yet take an end to rate hikes for granted," he added.

Persons: Michelle Bowman, Jerome Powell, Powell, Mark Haefele Organizations: Service, Federal Reserve, Kansas Bankers Association, Bowman, UBS Global Wealth Management Locations: Wall, Silicon

☆ Stock-market investors rarely see a recession coming despite warning signals. As all the classic alarm bells ring again, this time is no different, experts say — setting investors up to get crushed.
▼ + stars: | 2023-08-05 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

The S&P 500 has rallied 17% year-to-date, but the Treasury yield curve and LEI point to a downturn. For Rosenberg, the difference is that we currently have an inverted yield curve, a recession signal that has preceded every downturn since the 1960s. An inverted yield curve means that rates on short-duration Treasurys rise higher than rates on long-duration Treasurys. The yield curve inverts often during Fed hiking cycles because short-term Treasury rates track closely along with the fed funds rate. The below chart shows the share of consecutive trading days where the yield curve has been inverted.

Persons: Piper Sandler's Michael Kantrowitz, David Rosenberg, Rosenberg, —, Here's Lacy Hunt, here's Rosenberg, Piper Sandler, Piper Sandler Kantrowitz, Kantrowitz Organizations: Rosenberg Research, Federal, Hoisington Investment Management Company, of Labor Statistics

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