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☆ Akhand Bharat: Why a map in India's new Parliament is making its neighbors nervous
▼ + stars: | 2023-06-13 | by ( Rhea Mogul | ) edition.cnn.com time to read: +7 min

Akhand Bharat,” tweeted Minister of Parliamentary Affairs Pralhad Joshi alongside a photograph of the map. “Akhand Bharat in (the) New Parliament. It also took place on the birthday of the late Vinayak Damodar Savarkar, the man widely considered to have developed the Hindutva ideology and one of the first proponents of Akhand Bharat. “We have to see the dream of Akhand Bharat in this lifetime and it has started with (this),” said deputy chief minister of the state of Maharashtra, Devendra Fadnavis. Faisal Khan/Anadolu Agency/Getty Images/FileExperts say such rhetoric has made India’s neighbors nervous.

Persons: Arindam Bagchi, Ashoka, Akhand Bharat, Bharat, ”, Pralhad Joshi, Akhand, Manoj Kotak, Bharat ”, Bharat ’, Mumtaz Zahra Baloch, –, KP Sharma Oli, Baburam Bhattarai, Shahriar Alam, Subrahmanyam Jaishankar, “, Salil Tripathi, Narendra Modi, Vinayak Damodar Savarkar, Savarkar, Modi, Amit Shah, Praful, Sushant Singh, Manjunath Kiran, Critics, Devendra Fadnavis, Faisal Khan, Ayesha Jalal, Fahd Humayun Organizations: CNN, India’s Ministry, External Affairs, Bharatiya Janata Party, BJP, Parliamentary, Rashtriya Swayamsevak Sangh, stoke, Mahasabha, Hindustan Times, Centre for Policy Research, Getty, India’s, Anadolu Agency, Tufts University Locations: Pakistan, Nepal, Bangladesh, New Delhi, India, Afghanistan, Myanmar, “, Kathmandu, New York, Mumbai, ” India, Indian, Kashmir, Karnataka, Bangalore, Maharashtra, Srinagar

☆ Opinion: Before Trump or Viktor Orban, there was Italy’s Berlusconi
▼ + stars: | 2023-06-13 | by ( Ruth Ben-Ghiat | ) edition.cnn.com time to read: +6 min

CNN —“I’m the most persecuted man in all of history,” then-Italian Prime Minister Silvio Berlusconi claimed in 2009, just after Italy’s constitutional court stripped him of immunity from prosecution, leaving him vulnerable as he faced yet another corruption trial. Berlusconi, the three-time Italian prime minister who died this week at 86, wrote the script for an authoritarian style of leadership within a democracy. The flamboyant billionaire owner of a business, media and sports empire, Berlusconi privatized Italian television in the 1980s. Italian television had been limited to three state-owned RAI national networks, but by the 1980s Berlusconi’s Mediaset conglomerate owned the three largest private channels. Berlusconi also raised fears in Italians about the loss of “tradition,” using the specter of Italian demographic decline to justify anti-immigrant policies that preceded those of Hungarian Prime Minister Viktor Orban and other far-right leaders.

Persons: Ruth Ben, “ Strongmen, Mussolini, CNN — “, ”, Silvio Berlusconi, Berlusconi, Benito Mussolini —, Vladimir Putin, Marcello Dell’Utri, Publitalia, Ferdinando Meazza, “ Mussolini, ” Berlusconi, Viktor Orban, Fininvest, Sergei Chirikov, Donald Trump, “ Organizations: CNN, New York University, Italian, Forza Italia, National Alliance, Italian Social, Northern League, AC Milan soccer, RAI, AC Milan, Milan, Milan's, Italian Communist Party, British, Kremlin, Getty, Twitter, Facebook Locations: Italian, Milan, Milan's San Siro, Italy, Western Europe, Hungarian, Moscow, AFP

☆ Oil prices jump as China looks to kickstart its economy while Wall Street eyes Fed pause
▼ + stars: | 2023-06-13 | by ( Jason Ma | ) www.businessinsider.com time to read: +2 min

Oil prices climbed Tuesday as China tries to boost growth amid a disappointing post-COVID rebound. The People's Bank of China unexpectedly trimmed its short-term lending rate. US inflation data also raised hopes on Wall Street for a pause in Fed rate hikes. The People's Bank of China unexpectedly trimmed its short-term lending rate and deposited 2 billion yuan into the banking system, which suggests policymakers' growing urgency to stoke the economy. China's policy loosening comes as fresh inflation data in the US raised hopes on Wall Street that the Federal Reserve will pause its rate hikes.

Persons: —, Brent, Mohamed El Organizations: People's Bank of, Service, Texas Intermediate, Federal, Traders, Financial Times Locations: China, People's Bank of China, stoke, Mohamed

☆ Woman who took abortion pill after UK term limit sentenced to 28 months
▼ + stars: | 2023-06-12 | by ( Sana Noor Haq | ) edition.cnn.com time to read: +3 min

CNN —A British woman who used medication to induce an abortion after the United Kingdom’s legally allowed limit has been sentenced to prison for 28 months, the PA Media news agency reported. The woman was between 32 and 34 weeks pregnant at the time, a post-mortem examination revealed. Abortion laws in the UK stipulate that a person may be able to have a medical abortion at home if they are less than 10 weeks pregnant, according to the National Health Service. The case triggered calls for an “urgent reform” of abortion laws in the UK. A woman who had an abortion without following correct procedures just got 28 months under an 1868 act,” UK lawmaker Stella Creasy tweeted.

Persons: CNN —, BPAS, ”, Robert Price, “, Pepperall, Stella Creasy, Rishi Sunak, I’m Organizations: CNN, United, PA Media, Trent Crown, Pregnancy Advisory, National Health Service, British Locations: Stoke, Trent, England, Netherlands, Scotland, wales, Great Britain

☆ This beaten-down sector could be a bright spot in commercial real estate
▼ + stars: | 2023-06-06 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +6 min

As the market reassesses the value of office properties, investors have been steering clear of many commercial real estate stocks. Greg Kuhl, a portfolio manager at Janus Henderson, said he likes the outlook for Alexandria Real Estate Equities , a pure-play owner of life sciences centers. Malhotra said he sees lab REITs as a "lower-beta way to play the volatile Life Sciences environment." But each of these companies are more broadly diversified and have exposure to other types of commercial real estate. Kilroy, for example, had been focused in properties in the tech hubs, but it now has a growing life sciences portfolio.

Persons: Greg Kuhl, Janus Henderson, Kuhl, hasn't, Vikram Malhotra, Mizuho, Malhotra, Healthpeak's, Kilroy Organizations: Alexandria Real, stoke, Food and Drug Administration, Research, Biotech, Sciences, iShares Biotechnology, Boston Properties, Kilroy Locations: Alexandria, Ventas

☆ Shares steady on June hike hiatus hopes
▼ + stars: | 2023-06-05 | by ( Lawrence White | ) www.reuters.com time to read: +4 min

Japan's Nikkei (.N225) had earlier surged 2.1% to stand above 32,000 for the first time since July 1990. "With Saudi Arabia protecting oil prices from sliding too low ... we think oil markets are now more prone to a shortfall later this year," said Vivek Dhar, a mining and energy commodities strategist at Commonwealth Bank of Australia. The greenback also rose 0.1% on the Japanese yen to 140.26 while the euro eased 0.1% to $0.1069. Markets see a sizeable chance - about 40% - that the RBA could surprise with a quarter-point hike on Tuesday, after a minimum wage hike that economists feared could further stoke inflationary pressures. Additional reporting by Stella Qiu, Editing by Sam Holmes, Kim Coghill, Ed Osmond and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Issei Kato, Brent, Vivek Dhar, Fitch, Stella Qiu, Sam Holmes, Kim Coghill, Ed Osmond, Chizu Organizations: Nikkei, REUTERS, LONDON, Federal Reserve, Saudi, Japan's Nikkei, Nasdaq, Commonwealth Bank of Australia, Treasury, AAA, U.S, Bank of Canada, Reuters, BOC, Thomson Locations: Tokyo, Japan, Saudi Arabia, Asia, Pacific, China, U.S, United States, Australia, Canada

☆ Asian shares extend global rally
▼ + stars: | 2023-06-05 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

Brent oil rose 1% to $76.89 a barrel, giving up some of its earlier gains to as high as $78.73, while U.S. crude climbed 1.2% to $72.61 a barrel, after hitting a session high of $75.06. Oil prices have recently come under pressure amid heightened concerns about China's slowing economic recovery. "With Saudi Arabia protecting oil prices from sliding too low ... we think oil markets are now more prone to a shortfall later this year," said Vivek Dhar, a mining and energy commodities strategist at Commonwealth Bank of Australia. S&P 500 futures dipped 0.1% and Nasdaq futures dropped 0.3% in Asian hours, after a strong rally on Friday, driven by a mixed U.S. jobs report, a resolution to the debt-ceiling issue and the prospect of a U.S. rate pause this month. The U.S. dollar remained elevated on Monday at 104.14 against its major peers, after gaining 0.5% on Friday on the jobs report.

Persons: Brent, Vivek Dhar, Hong, Fitch, Himani Sarkar, Sam Holmes Organizations: Nikkei, Saudi, Commonwealth Bank of Australia, bbl, Japan's Nikkei, Nasdaq, Treasury, AAA, U.S, Bank of Canada, Reuters, BOC, Thomson Locations: SYDNEY, U.S, Saudi Arabia, OPEC, China, Asia, Pacific, Japan, United States, Australia, Canada

☆ U.S. sanctions target Russian influence campaign in Moldova
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, June 5 (Reuters) - The United States imposed sanctions on Monday on members of a Russian intelligence-linked group for their role in Moscow's efforts to destabilize democracy and influence elections in Moldova, the Treasury Department said. The new sanctions target seven Russian individuals, some of whom maintain ties to Russian intelligence services, the department said in a statement. They include the group's leader, Konstantin Prokopyevich Sapozhnikov, who organized the plot to destabilize the government of Moldova in early 2023, it said. The group's members provoke, train and oversee groups in democratic countries and conduct anti-government protests, rallies, marches and demonstrations, it added. Brian Nelson, the department's undersecretary for terrorism and financial intelligence, said Monday's sanctions expose Russia's ongoing efforts to destabilize democratic nations.

Persons: Konstantin Prokopyevich Sapozhnikov, Yury Yuryevich Makolov, Gleb Maksimovich Khloponin, Aleksey Vyacheslavovich Losev, Svetlana Andreyevna Boyko, Vasily Viktorovich Gromovikov, Nicu Popescu, Brian Nelson, Doina Chiacu, Tim Ahmann, Will Dunham, Mark Porter Organizations: Treasury Department, European Union, Facebook, Thomson Locations: United States, Russian, Moldova, Russia, Ukraine, United Kingdom, Canada

☆ Exclusive: Turkey's new cabinet almost certain to include Simsek, four sources say
▼ + stars: | 2023-05-31 | by ( Orhan Coskun | ) www.reuters.com time to read: +6 min

Simsek was highly regarded by financial markets when he served as finance minister and deputy prime minister between 2009 and 2018. After chairing a final meeting of his old cabinet on Wednesday, Erdogan will announce new ministerial roles by Saturday, officials said. The new cabinet is almost certain to include his spokesman Ibrahim Kalin and intelligence chief Hakan Fidan, they added. One of the sources, a senior official with knowledge of the subject, said Erdogan and Simsek had spoken for 2-1/2 hours. The same official said former minister Cevdet Yilmaz could take up the role of Treasury and Finance Minister if Simsek were to become a vice president.

Persons: Erdogan, Tayyip Erdogan, Mehmet Simsek, Simsek, Ibrahim Kalin, Hakan Fidan, Nureddin Nebati, Guillaume Tresca, Cevdet Yilmaz, Lutfi Elvan, Sahap Kavcioglu, Timothy Ash, Ash, Amruta Khandekar, Daren Butler, Jonathan Spicer, Toby Chopra, Catherine Evans Organizations: Intelligence, Lira, FX, Reuters, Treasury, Finance, Emerging, Generali Investments, AK, Simsek, BlueBay Asset Management, Thomson Locations: ANKARA

☆ How US allies can mitigate Trump 2.0
▼ + stars: | 2023-05-29 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

LONDON, May 29 (Reuters Breakingviews) - A return to the White House by Donald Trump would create challenges for the world’s other rich democracies. TRUMP IN POLYCRISISBiden has painstakingly created a consensus with his core allies since Putin invaded Ukraine last year. PREPARE FOR THE WORSTThe world’s other rich democracies - call them the G6 - cannot change the outcome of the U.S. presidential election. Politicians in other rich democracies can also try to persuade Republican leaders that now is not the time to abandon Kyiv. If other rich democracies adopt a vigorous mitigation strategy now, they’ll be better prepared if Trump does return.

☆ Vatican chastises bishops who stoke division on social media
▼ + stars: | 2023-05-29 | by ( Philip Pullella | ) www.reuters.com time to read: +2 min

VATICAN CITY, May 29 (Reuters) - The Vatican urged bishops and high-profile lay Catholic leaders on Monday to tone down their comments on social media, saying some were causing division and stoking polemics that harmed the entire Church. A Pastoral Reflection on Engagement with Social Media." It condemned polarisation and extremism that had led to "digital tribalism" on social media, saying individuals were often locking themselves in silos of opinion that hindered dialogue and often led to violence, abuse and misinformation. "The Christian style should be reflective, not reactive, on social media. For example, when groups that present themselves as 'Catholic' use their social media presence to foster division, they are not behaving like a Christian community should," the document said.

☆ Debt conundrum gives Italy weak hand in EU talks
▼ + stars: | 2023-05-18 | by ( Lisa Jucca | ) www.reuters.com time to read: +6 min

After inflation hit 40-year highs in the West last year, global rate-setters, including the European Central Bank, launched a dramatic series of interest rate hikes. Unless there is a sudden series of interest rate cuts, the cost of servicing Italy’s debt could stay well above 4% of GDP for years. To fight that, Meloni’s government will have to shrink the public deficit and bring Italy back to the healthy pre-pandemic habit of keeping a primary budgetary surplus excluding debt interest payments. As long as Italy’s debt is not spiralling out of control, markets won’t worry too much. Yet even if Meloni chooses a milder approach, Italy’s unresolved debt challenge risks giving her a weak negotiating hand in Brussels.

☆ Explainer: Why El Nino is a concern for Indian monsoon rains?
▼ + stars: | 2023-05-16 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +4 min

However, a 90% likelihood of an El Nino weather pattern developing during the June-September monsoon season raises the possibility of less than normal rain. WHAT IS EL NINO? As a result, the Indian monsoon tends to be weaker and less reliable during El Nino years. HOW CLOSE IS THE CORRELATION BETWEEN EL NINO AND MONSOON RAIN? The correlation between El Nino and Indian monsoon rainfall is significant, despite occasional instances when India gets normal or above-normal rain during El Nino years.

☆ Premarket stocks: Wall Street's 'fear gauge' is rising as US debt talks drag on
▼ + stars: | 2023-05-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Markets will get volatile, maybe the stock market will go down, the Treasury markets will have their own problems,” he said. But this fear of market volatility isn’t going away. A similar fight around the debt ceiling in 2011 spurred a serious bout of market volatility. Wall Street’s key measure of volatility, the VIX, reached two year highs and soared more than 35% in just one day. Wall Street typically uses the VIX, known as the market’s “fear gauge,” as a way to measure how investors feel about financial and economic uncertainties.

☆ Thailand’s election could be a lose-lose scenario
▼ + stars: | 2023-05-12 | by ( Anshuman Daga | ) www.reuters.com time to read: +3 min

SINGAPORE, May 12 (Reuters Breakingviews) - Thailand’s elections on Sunday might return opposition parties to power for the first time since 2014, or alternatively deliver a stitched-up military-backed government. Assuming one of these opposition parties wins, it will need to control 376 seats out of the combined 500-seat House of Representatives and the 250-seat Senate to choose a prime minister. Pheu Thai claims it can lift annual economic growth to around 5% so long as is in power, which would be nearly double 2022’s low base. Higher incomes might ease Thailand’s household debt, which at 87% of GDP is the third-highest in Asia. HSBC analysts expect revenue at major Thai corporations to grow by only 2% next year – again, well behind neighbours – and Pheu Thai is mulling a 20% tax on private company profits, per a report in the Bangkok Post.

☆ Australian govt rejects concerns budget may worsen inflation
▼ + stars: | 2023-05-10 | by ( Renju Jose | ) www.reuters.com time to read: +2 min

But inflation sits at near 30-year highs of 7.0%, forcing the government to announce relief measures aimed at lowering power bills and easing pressure on consumer prices. "We wanted to take pressure off families whilst we didn't put pressure on inflation," Prime Minister Anthony Albanese told ABC Radio. The budget includes a A$14.6 billion ($10 billion) cost-of-living plan, set to deliver up to A$3 billion in direct energy bill relief for low-income families and small businesses. Treasurer Jim Chalmers brushed aside concerns the support measures could stoke inflation, saying all the relief would not impact the economy at the same time. ($1 = 1.4743 Australian dollars)Reporting by Renju Jose in Sydney; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Russian service members rehearsing last week for the military parade in Moscow on Tuesday, when Russia celebrates the anniversary of the victory over Nazi Germany in World War II. More recently, he has tried to wrap Ukraine into that narrative, falsely depicting it as a Nazi redoubt. The parade is likely to be subjected to closer scrutiny than usual, both inside Russia and beyond its borders. This year, the jets have skipped their usual practice runs over Moscow, raising questions about whether they will participate. Dmitri S. Peskov, the Kremlin spokesman, said the march was canceled as a “precautionary measure” against possible attacks.

☆ Fisker cuts production forecast as challenges mount for EV startups
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

The results follow weak earnings and a production outlook cut overnight from Lucid Group Inc (LCID.O), sending its stock tumbling 10%. U.S. EV startups' hopes of shaking up the industry collided with rising interest rates and sluggish demand, with many grappling with production challenges. Fisker now expects to produce between 32,000 and 36,000 units in 2023, compared with its previous target of 42,400 cars. The company blamed the cut on supply chain issues and an updated timing for homologation, or the certification for roadworthiness. As of March 31, Fisker had about $652.5 million in cash and cash equivalents, compared with $1.04 billion a year earlier.

☆ Oil giant Saudi Aramco posts 19% drop in first-quarter profit
▼ + stars: | 2023-05-09 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia, on Wednesday, Oct. 3, 2018. DUBAI, United Arab Emirates — Saudi state oil giant Aramco on Tuesday reported a 19% drop in its first-quarter earnings, recording net income of $31.9 billion down from $39.5 billion the previous year amid falling oil prices. Still, Aramco's net income beat expectations of $30.5 billion, which was forecast by Reuters analysts. The company's net profit was up 3.75% from the fourth quarter. Aramco, which is the world's largest oil exporter, posted a record net income of $161.1 billion for 2022 in March, up by 46.5% over the year.

☆ Australian government pledges $10 billion in budget to ease cost of living
▼ + stars: | 2023-05-08 | by ( ) www.cnbc.com time to read: +1 min

Lamp posts in front of the Reserve Bank of Australia (RBA) building in Sydney, Australia, on Monday, Feb. 6, 2023. Australia's center-left Labor government said on Monday it would include 14.6 billion Australian dollars ($9.84 billion) over four years in the federal budget for cost of living relief for families and businesses, which it promised would not stoke inflation. "The centerpiece of the budget ... will be cost-of-living relief that doesn't add to inflation," Treasurer Jim Chalmers said in a statement, ahead of Tuesday's federal budget. We've carefully calibrated and designed this Budget so that it takes pressure off the cost-of-living rather than add to it." The government is set to unveil in the budget financial assistance for more than 5 million low-income families, small businesses and pensioners struggling with high power bills.

☆ Australia pledges $10 billion in budget to ease cost of living
▼ + stars: | 2023-05-07 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, May 8 (Reuters) - Australia's centre-left Labor government said on Monday it would include A$14.6 billion ($9.84 billion) over four years in the federal budget for cost of living relief for families and businesses, which it promised would not stoke inflation. The plan is designed to directly ease price pressures and inflation, the federal government said, which has eased in the first quarter but still sits near 30-year highs of 7.0%. "The centrepiece of the budget ... will be cost-of-living relief that doesn't add to inflation," Treasurer Jim Chalmers said in a statement, ahead of Tuesday's federal budget. We've carefully calibrated and designed this Budget so that it takes pressure off the cost-of-living rather than add to it." ($1 = 1.4830 Australian dollars)Reporting by Renju Jose in Sydney; Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

The Labor Department's report showed non-farm payrolls increased by 253,000 last month, higher than economists' expectations of 180,000. "This is a strong report and shows that the labor market is resilient. "It's been a tough week for the stock market, the regional banking problems have raised the fear factor, but Apple earnings came in strong. The S&P 500 has gained nearly 6% so far this year, while the S&P 500 Banks index (.SPXBK) and KBW Regional Banking index (.KRX) have lost 17% and 31%, respectively. ET, Dow e-minis were up 222 points, or 0.67%, S&P 500 e-minis were up 33.5 points, or 0.82%, and Nasdaq 100 e-minis were up 87 points, or 0.67%.

The blue-chip index (.FTSE) and the mid-cap FTSE 250 index (.FTMC) rose 0.3% each, as of 0830 GMT. Oil and gas sector (.FTNMX601010) jumped 1.7%, with firm crude prices and a weaker dollar supporting gains. The U.S. Federal Reserve and the European Central Bank hiked interest rates by 25 basis points (bps) earlier this week. Though the ECB signalled more hikes were to come, the Fed indicated a potential pause in its monetary tightening. "As long as inflation doesn't move higher, it looks like the Fed has done enough in the near term."

☆ UK Conservatives suffering 'terrible' night with local election losses
▼ + stars: | 2023-05-05 | by ( Andrew Macaskill | ) www.reuters.com time to read: +4 min

REUTERS/Peter CziborraLONDON, May 5 (Reuters) - British Prime Minister Rishi Sunak's Conservatives were facing a bleak set of local election results with voters punishing his party over political scandals, sluggish economic growth and high inflation, early results showed on Friday. The Conservative Party suffered a net loss of 144 seats on local councils that were up for re-election, the early results showed. Johnny Mercer, a member of parliament for the area, said it had been a "terrible" night for the Conservatives. The Labour leader Keir Starmer visited Plymouth and Stoke-on-Trent during local election campaigning as the party threw resources into winning back control of the councils. The last time most of these local election seats were contested was in 2019 when the Conservatives lost more 1,300 seats, shortly before the then prime minister Theresa May was forced to resign, which had been expected to help limit the losses in these elections.

May 5 (Reuters) - U.S. electric-vehicle startups are expected to report another quarter of dwindling cash reserves next week, piling pressure on a group of companies that are struggling to ramp up production and have few options for funding in a turbulent economy. Lucid Group (LCID.O) kicks off first-quarter earnings for the group on Monday, with the company expected to report a 36% sequential slide in cash reserves, according to Visible Alpha. Rivian Automotive (RIVN.O), meanwhile, will likely report on Tuesday that its cash balance fell by 6.8% to $10.78 billion from the preceding quarter, per a Visible Alpha estimate. Fisker Inc (FSR.N) and Nikola (NKLA.O), both of which report earnings on Tuesday, are expected to see their cash reserves decline by 5% and 15%, respectively, according to Visible Alpha. Its earnings in an unscheduled release on Thursday showed Lordstown's cash balance fell 11% sequentially.

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