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☆ Japan approves $13.5 bln Osaka resort, country's first casino
▼ + stars: | 2023-04-14 | by ( Kantaro Komiya | ) www.reuters.com time to read: +3 min

[1/2] The spinning wheel on a roulette table is seen at Japan Casino School in Tokyo, Japan August 4, 2018. U.S. casino operator MGM Resorts International (MGM.N) and local partner Orix Corp (8591.T) have spearheaded the Osaka IR project, with each owning a 40% stake in the company set up to manage the complex. The national government's decision came after the pro-casino Japan Innovation Party retained the prefectural governor and city mayor offices in Osaka on Sunday. Major casino operators Las Vegas Sands Corp (LVS.N), Caesars Entertainment Corp and Wynn Resorts Ltd (WYNN.O) withdrew from planned projects. The government on Friday said it would need more time to review the Nagasaki plan, led by Casinos Austria International.

☆ Sovereign debtors, creditors agree on steps to jumpstart debt restructurings
▼ + stars: | 2023-04-13 | by ( Andrea Shalal | ) www.reuters.com time to read: +4 min

WASHINGTON, April 12 (Reuters) - Global creditors, debtor nations and international financial institutions on Wednesday agreed to improve data sharing, set clearer timetables and take other steps aimed at jumpstarting debt restructuring processes. Reuters reported Beijing was poised to drop its demand that multilateral development banks share in debt restructuring losses, partly in exchange for the IMF and World Bank providing earlier access to their debt sustainability analyses for countries receiving debt treatments. The statement said the debt roundtable participants agreed on the importance to urgently improve information sharing on macroeconomic projections and debt sustainability assessments in debt treatment cases. "This work will also help in clarifying potential timetables to accelerate debt restructurings," the statement said. It said the IMF, World Bank and the G20 presidency will continue to work closely together and with other partners to further support the international response to current debt challenges.

☆ ConocoPhillips raises emission targets, expects $10 bln in annual spending
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

Companies Conocophillips FollowApril 12 (Reuters) - U.S. oil producer ConocoPhillips (COP.N) on Wednesday unveiled a 10-year plan that raised its targets for greenhouse gas reductions and put its annual capital expenditure at about $10 billion on average, ahead of an investor meeting. Major oil and gas producers have come under mounting pressure to cut greenhouse gas emissions to slow climate change, and set targets for reducing their own direct and indirect emissions, or so-called Scope 1 and 2. ConocoPhillips has faced criticisms from environmental activists for its recently approved $7 billion oil drilling project Willow in Alaska's Arctic, over concerns it would exacerbate climate change and damage pristine wildlife habitat. The company on Wednesday said its 10-year plan includes acceleration of greenhouse gas (GHG)-intensity reduction target through 2030 from 40%-50% to 50%-60%. It also expects to spend between $10.7 billion and $11.3 billion this year.

WASHINGTON, April 12 (Reuters) - Japan, France and India will announce a new platform for creditors to coordinate restructuring of Sri Lanka's debt, Japanese Finance Minister Shunichi Suzuki said on Wednesday, adding it would be "very nice" if China were to join the effort. As chair of this year's Group of Seven (G7) meeting, Japan has put efforts to address debt vulnerabilities of middle-income countries such as Sri Lanka as among priorities for debate. The announcement of the new platform, initiated by Japan, France and G20 chair India, will be made on Thursday, Suzuki said in a news conference after the G7 finance leaders' meeting. The platform will likely consist of a series of meetings of the creditor nations to discuss the debt. It will be very nice if China will join," Suzuki said.

☆ As summer heat looms, Japan urged to curb impact, emissions
▼ + stars: | 2023-04-12 | by ( ) www.cnbc.com time to read: +5 min

Stanislav Kogiku | SOPA Images | Lightrocket | Getty ImagesTemperatures are rising in Japan and summer is coming fast. "The risks from climate change are right before us," said Yasuaki Hijioka, deputy director of the Center for Climate Change Adaptation at the National Institute for Environmental Studies in Tsukuba, northeast of Tokyo. But climate change means communities are often caught off guard because the systems were engineered for the weather conditions of the past. The warming weather can also hold more moisture, adding flooding and landslides to the summer forecast, something that Japan has also seen with growing frequency. "We need to view climate change as a natural disaster."

☆ Yellen says vigilant to downside economic risks, but don't 'overdo the negativism'
▼ + stars: | 2023-04-11 | by ( Andrea Shalal | ) www.reuters.com time to read: +4 min

REUTERS/Elizabeth FrantzWASHINGTON, April 11 (Reuters) - U.S. Treasury Secretary Janet Yellen on Tuesday said she remained vigilant to downside risks facing the global economy, given Russia's ongoing war against Ukraine and banking pressures, but the overall outlook was "reasonably bright." Yellen, speaking at a news conference, pushed back against warnings by the International Monetary Fund of bigger risks associated with severe financial tensions. "I wouldn't overdo the negativism about the global economy," Yellen said, when asked about a slightly trimmed IMF global growth forecast for 2023 which warned that a flare-up of financial system turmoil could slash output to near recessionary levels. She said the U.S. banking system remained sound, with strong capital and liquidity positions, and the global financial system is resilient due to the significant reforms enacted after the 2008 financial crisis. Yellen told reporters the global economy was in a better place than projected last fall, with energy and food prices having stabilized and supply chain pressures continuing to ease.

☆ Yellen says vigilant to downside risks given war in Ukraine, banking pressures
▼ + stars: | 2023-04-11 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

WASHINGTON, April 11 (Reuters) - U.S. Treasury Secretary Janet Yellen said she remained vigilant to downside risks facing the global economy, given the negative economic consequences of Russia's war against Ukraine and recent pressures on banking systems in the United States and elsewhere. A price cap on Russian oil was helping to stabilize global energy markets while reducing Russia’s primary source of revenue, she added. The U.S. banking system remains sound, with strong capital and liquidity positions, and the global financial system is resilient due to the significant reforms enacted after the 2008 financial crisis, she said. DEBT OVERHANGYellen said high debt burdens posed a "significant economic headwind for too many countries," with more than half of all low-income countries near or in debt distress, and called for steps to improve the international debt restructuring process. Yellen also called for completion of a debt treatment for Zambia and the rapid establishment of a creditor committee for Ghana.

☆ Fortune teller sees bleak future as Sri Lankans celebrate new year
▼ + stars: | 2023-04-11 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +3 min

About 85% of Sri Lanka's 22 million population celebrate the New Year on April 14, observing auspicious times and visiting family. Sri Lanka's economic meltdown, triggered by a severe foreign exchange shortage, low tax revenues and high debt, has seen the cost of living soar. Sri Lanka secured an IMF bailout last month but is still ironing out how to restructure debt owed to bilateral creditors and bondholders. His power bill has jumped 29,000 rupees per month to 105,578 now after big increases in tariffs. Fortune teller Chandani hopes things will improve in the new year.

☆ Russian volcano erupts, spewing out a vast cloud of ash
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +3 min

Summary Shiveluch erupts in Russian far eastAsh shoots up 20 km into the skyVast ash cloud in Russian far eastAviation warning issuedResidents trudge through ash driftsVLADIVOSTOK, Russia, April 11 (Reuters) - One of Russia's most active volcanoes erupted on Tuesday shooting a vast cloud of ash far up into the sky and smothering villages in drifts of grey volcanic dust, triggering an aviation warning around Russia's far eastern Kamchatka Peninsula. The Shiveluch volcano erupted just after midnight reaching a crescendo about six hours later, spewing out a ash cloud over an area of 108,000 square kilometres, according to the Kamchatka Branch of the Russian Academy of Sciences' Geophysical Survey. "The ash reached 20 kilometres high, the ash cloud moved westwards and there was a very strong fall of ash on nearby villages," said Danila Chebrov, director of the Kamchatka branch of the Geophysical Survey. He said the volcano would probably calm now, but that further major ash clouds could not be excluded. Scientists posted pictures of the ash cloud billowing swiftly over the forests and rivers of the far east and of villages covered in ash.

☆ Eruption in Russia's Kamchatka threatens aviation -response team
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +1 min

April 11 (Reuters) - The Shiveluch volcano in Russia's far eastern Kamchatka Peninsula erupted early on Tuesday and sent up an ash plume 10 kilometers (six miles) high, posing an increased threat to air traffic, the Kamchatka Volcanic Eruption Response Team (KVERT) said. The team issued a code red Volcano Observatory Notice for Aviation, noting that a "large ash cloud" was drifting west of the volcano and that ash explosions up to 15 kilometers high could occur at any time. Bondarenko said the volcano erupted at 6:31 a.m. local time and that the cloud spread over Klyuchi and Kozyrevsk, villages more than 70 kilometers apart. Ash had started to fall on Klyuchi and Mayskoye, which lies about halfway between the two. "Residents are advised to stay indoors and avoid unnecessary travel," he added.

☆ Woman claims neighbor signed over the deeds of her $365,000 home for just $10, say reports
▼ + stars: | 2023-04-09 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +2 min

A woman has accused her neighbor for trying to steal her $350,000 home in Long Island. Prosecutors allege that her neighbor, Aurelia Soogea, 35, forged the signatures on the deeds to the house to switch ownership. NBC reports that the deed to the house shows the transfer of ownership happened for just $10. Carra has said that Mika transferred the home ownership to his client in thanks for work Soogea did helping to care for the older woman. The news site reports that Mika's legal team says this is not true, and the two women had no relationship.

Here is a snapshot of pending and passed legislation seeking to restrict or protect access in 2023. KANSAS: Although Kansans voted in favor of state abortion rights on a ballot measure last year, the Republican-led state Senate has passed a prohibition on prescribing abortion pills via telemedicine. The Republican-led state is currently enforcing a total abortion ban, with exceptions for rape, incest or the life of the mother. MONTANA: The Republican-led state Senate has passed a bill seeking to overturn a 1999 state Supreme Court ruling that found that the state constitution protected a right to abortion. SOUTH CAROLINA: Despite the fact that the state Supreme Court recently struck down a six-week abortion ban in a 3-2 vote, Republicans have introduced a near-total abortion ban and a six-week ban this year.

☆ These US port cities are fighting to restrict cruise ships. It's easier said than done.
▼ + stars: | 2023-04-05 | by ( Hannah Towey | ) www.businessinsider.com time to read: +4 min

The pandemic offered coastal communities across the US a taste of life without cruise ships. Now, port cities in Florida, Maine, Alaska, and California are fighting to limit or ban the vessels. A few weeks prior, Juneau, Alaska's city assembly voted to cap the number of cruise ships visiting the capital's downtown port at five per day. According to one study commissioned by Stand.earth, an environmental organization, found that cruise passengers visiting Victoria, a major Canadian cruise port, were responsible for less than 2% of tourism spending. Do you live or work near a US cruise port?

☆ World Bank cuts Pakistan's GDP f'cast on rising rates, limited fiscal space
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +2 min

NEW DELHI, April 4 (Reuters) - The World Bank sharply lowered Pakistan's current year growth forecast, saying the country's economic growth prospects have weakened due to tighter financial conditions and limited fiscal space. The World Bank now expects Pakistan's economy to grow 0.4% in the current year, from its October forecast of 2% growth. Pakistan expects its economy to grow 2% in FY23, however, the country's central bank chief said in January the growth forecast could face downward pressure. The World Bank lowered its 2023 regional growth forecast to 5.6% from 6.1% in October. Inflation in South Asia is set to fall to 8.9% this year, and to below 7% in 2024, the World Bank said.

☆ Sri Lanka's tourism sector has had a 'very good' last three months, minister says
▼ + stars: | 2023-04-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSri Lanka's tourism sector has had a 'very good' last three months, minister saysHarin Fernando, Sri Lanka's minister of tourism and lands, says bookings for the coming months are also "very good." 02:36 an hour ago

☆ Jesus at the double as Arsenal steam on towards title
▼ + stars: | 2023-04-01 | by ( ) www.reuters.com time to read: +3 min

Jesus, starting a league game for the first time since returning from a knee injury last month, converted a 35th-minute penalty after being clipped in the box by Luke Ayling. Ben White doubled Arsenal's advantage from Gabriel Martinelli's pass before Brazilian Jesus, signed from Manchester City last summer, struck again from close range in the 55th minute from Leandro Trossard's assist. Leeds had troubled Arsenal in the opening period but once Jesus put the hosts ahead it was relatively plain sailing as they restored their eight-point lead over champions Man City. The most important thing is that everyone that has come in has played good," Jesus said. His persistence and trickery earned Arsenal a nerve-settling penalty on Saturday as he jinked into the box and Ayling, rather unluckily, conceded the spot kick as Jesus tumbled.

☆ Soccer-Leaders Arsenal respond in style after Man City thrash Liverpool
▼ + stars: | 2023-04-01 | by ( Martyn Herman | ) www.reuters.com time to read: +4 min

Arsenal's seventh successive league win moved them to 72 points from 29 games with City, who still have to play the London club at home, on 64 having played one game less. Jean-Philippe Mateta's late goal sparked jubilation amongst the home fans as Palace moved into 12th place with 30 points, five points ahead of third-from-bottom Leicester. Pressure is intensifying on Leicester manager Brendan Rodgers as his side lost for the fifth time in six league games. Nottingham Forest and Wolverhampton Wanderers drew 1-1 at the City Ground as both clubs stayed far too close to the relegation zone for comfort. The result took both teams above Liverpool with Brighton in sixth place and Brentford in seventh.

The financially strapped South Asian country will also start formal negotiations for the debt it owes to bilateral creditors and overseas bondholders after the domestic debt operation, aiming to complete those parallel debt talks by September. Central bank and treasury officials said they expected that "exploring options for a domestic debt operation" will help achieve much-needed liquidity relief, including both local currency T-Bills and T-Bonds. Government officials told investors that only T-Bills held by the central bank would be considered for a debt rework, while a voluntary domestic debt operation was expected for the holders of $24 billion of T-Bonds. Sri Lanka is struggling with its worst economic crisis in more than seven decades. To that end, Sri Lanka has already frozen public recruitment and has hiked taxes and power tariffs by 66% this year.

☆ How age-old retailers like Foot Locker are boosting sales for new brands like Hoka and On
▼ + stars: | 2023-03-27 | by ( Danni Santana | ) www.businessinsider.com time to read: +4 min

Foot Locker and other sneaker retailers have learned their lesson about depending too much on Nike. Foot Locker has allocated more wall space to emerging performance running brands like On and Hoka. Foot Locker and other sneaker retailers have learned their lesson from Nike's shifting strategy. Although Nike still sells at some retailers like Foot Locker, Nike is committed to putting its own direct-to-consumer sales first. "Acquiring a 21-year-old in New Jersey is more expensive for us to do than Foot Locker because Foot Locker has kept that relationship with that consumer," On co-CEO Marc Maurer told Insider in an interview.

☆ Putin's war turned this quiet Polish airport into a global military hub where passenger jets touch down alongside Patriot missiles
▼ + stars: | 2023-03-26 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +9 min

Rzeszów-Jasionka Airport is just 50 miles from Poland's border with Ukraine. He told Insider: "I realized that a great challenge was ahead of us and that any mistake on our part couldn't be an option." Hamryszczak told Insider that he had to rise to "countless" challenges, including making complex arrangements with world leaders and welcoming the world's media. Air Force One is "the most famous aircraft that has ever visited our airport," Hamryszczak said. "This is no longer the same regional airport that operated in 2021, or even before the pandemic," Hamryszczak told Insider.

☆ AI chatbot company Replika restores erotic roleplay for some users
▼ + stars: | 2023-03-25 | by ( Anna Tong | ) www.reuters.com time to read: +3 min

[1/2] A combination of screenshots shows two different chatbots from the AI company Replika, the left shows "Lily Rose," a Replika chatbot provided by customer Travis Butterworth who said the chatbot recently began rebuffing erotic role play and the right shows a sample Replika chatbot provided by the company in this undated handout. March 25 - AI chatbot company Replika is restoring erotic roleplay for some users, Replika CEO Eugenia Kuyda said late on Friday. The removal of erotic roleplay and subsequent customer outcry showed how powerfully AI technology can draw people in, and the emotional havoc that code changes can wreak. Kuyda and a Replika company representative did not immediately reply to requests for further comment. Kuyda's post said users who signed up after Feb. 1 would not be offered the option for erotic roleplay.

☆ Deripaska denies lying to London court in Russian tycoon feud
▼ + stars: | 2023-03-22 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

LONDON, March 22 (Reuters) - Russian aluminium tycoon Oleg Deripaska on Wednesday denied lying about the relocation of EN+ Group from Jersey to Russia to avoid U.S. sanctions, as he fights his former business partner's attempt to jail him at London's High Court. Chernukhin's lawyers argue Deripaska breached an undertaking to preserve 45.5 million EN+ shares in Jersey to meet a $95 million debt to Chernukhin, which has since been paid in full. Jonathan Crow, representing Chernukhin, said on Tuesday that the shares were rendered "worthless" because of the difficulty in enforcing debts against Deripaska in Russia. But Deripaska, who denies breaching the undertaking, argues the EN+ shares would have been worthless if the company was not redomiciled as the company would have been bankrupted. Grant also said U.S. charges for allegedly violating sanctions could have prompted U.S. authorities to seek Deripaska's extradition from London.

☆ Democrats, Republicans, and companies all seem to agree: college degrees aren't the future
▼ + stars: | 2023-03-22 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +6 min

A bachelor's degree has become a common requirement for landing US jobs, even those that didn't previously require one. Josh Shapiro signed an executive order opening up 92%, or roughly 65,000, of state jobs to those without college degrees. They urged more states to follow to move the economy away from a preference for college degrees, restoring a sense of fairness many Americans feel is lost. Oregon also issued a temporary order in 2022 allowing those without bachelor's degrees to work as substitute teachers. A college degree may increase your earning potential, but it may not hold the keys to the middle class for much longer.

☆ Alaska oil drilling protesters disrupt White House climate adviser appearance
▼ + stars: | 2023-03-21 | by ( ) www.reuters.com time to read: +2 min

Companies Conocophillips FollowWASHINGTON, March 20 (Reuters) - Protesters criticizing President Joseph Biden's approval of an oil drilling project in Alaska on Monday blocked an administration official from delivering a speech about U.S. climate leadership. Ali Zaidi, White House climate adviser, was unable to address the event on the "Future of U.S. A dozen protesters holding a sign saying "End Fossil Fuels" chanted: "Keep your promise, no new drilling" for several minutes, preventing Zaidi from starting his remarks. Protesters believe the Willow decision may overshadow Biden's other climate achievements. The administration has been touting climate investments stemming from its signature climate law called the Inflation Reduction Act (IRA)and its bipartisan infrastructure law.

☆ Nebraska hasn't passed a single bill this year because one lawmaker keeps filibustering in protest of an anti-trans bill: 'I will burn this session to the ground'
▼ + stars: | 2023-03-21 | by ( Azmi Haroun | Hannah Getahun | ) www.businessinsider.com time to read: +3 min

A Nebraska state senator has filibustered every bill in this year's legislative session. State Sen. Machaela Cavanaugh is doing so in opposition to an anti-trans bill, The Washington Post reported. "This bill legislates hate and targets trans youth," Cavanaugh told The Post. "I will burn this session to the ground over this bill," Cavanaugh told her colleagues in a February session, according to the Post. "The dream would be for the bill to die and for us to move forward with the work of the state," Cavanaugh told the Post.

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