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SummaryCompanies Swedish house market tumbles as rates riseSwedes dusting down 1990s blueprint to contain crisisBanks say willing to seize collateralFRANKFURT, July 28 (Reuters) - Long before Europe faced its debt crisis, Sweden struggled through its own 1990s property crash. At the centre of the fallout is a $13 billion property group, SBB, which borrowed to buy public property including social housing, government offices, schools, hospitals and police stations. While property doubled in value in the five years leading up to the 1990s crash, prices have since risen five-fold. Sweden's bruising experience in the 1990s, when banks seized swathes of property underpinning loans, hardened its approach and gave it a blueprint for coping with crises. Swedbank has 1 trillion crowns ($97 billion) in mortgages and loans to tenant owner associations and a further 240 billion crowns in loans to property management companies.
Persons: Jens Henriksson, Price, Karolina Ekholm, Swedbank's, Swedbank, Carl Cederschiold, Masih Yazdi, Bo Lundgren, Lundgren, John O'Donnell, Marie, Alison Williams Organizations: SBB, Sweden's, Marie Mannes, Thomson Locations: FRANKFURT, Europe, Sweden, rocketed, Stockholm, Swedish
A Biden administration source said such conversations with service providers about their requirements have been constant during the implementation of the caps. The price cap bans Western companies from providing services such as transportation, insurance and financing for the oil sold above the cap. Treasury uses a monthly average of prices to calculate the Urals price, which means it may be a while before the Russian oil price can be considered over the cap. 'POLICY PICKLE'The administration, however, is set to move slowly, wary of creating ripples in a market that could send rising global oil prices higher. "But there won't likely be a dramatic change unless oil prices stay high for a while."
Persons: Biden, We’ve, Joe Biden, Wally Adeyemo, Elizabeth Rosenberg, Adeyemo, Ben Cahill, Cahill, Timothy Gardner, Marguerita Choy Organizations: Group, European Union and Australia, Treasury, Foreign Assets, RUSSIA, The State Department, EU, Center for Strategic, International Studies, Thomson Locations: Washington, Ukraine, U.S, Urals, India, China, Russia, Europe, Russian, Eastern
Steeped in yearning and chockablock with shocks, “Talk to Me,” the first feature from the Australian filmmaking brothers Danny Philippou and Michael Philippou, is a horror movie huddled tightly around a story of filial grief. The result is an enduring melancholy that no amount of ghouls or gore can entirely dispel. Yet Mia remains alienated, hanging awkwardly apart from her raucous, thrill-seeking friends, wearing her bereavement like a scarlet letter. The rules are simple: Grip the hand, say “Talk to me,” and a ghost will appear. The spirit’s move-in is easy; the eviction is where things get sticky.
Persons: Danny Philippou, Michael Philippou, Sophie Wilde’s, Mia, Marcus Johnson, Jade, Alexandra Jensen, Riley, Joe Bird
Farmers are growing crops and raising cattle in a "ghost town" built for millionaires. Developers broke ground on the project in 2010 but left 260 European-style homes unfinished, turning the luxury project into an eerie wasteland.
Organizations: Developers
Tampa, Florida, is becoming a popular place to move for younger millennials and Gen Zers. Below, why five 20-somethings moved to Tampa, in their own words, edited for length and clarity. Tampa has grown since I've moved here, and I think it's only going to get bigger. Noelle Lane, 23Nicole Lane Courtesy of Nicole LaneJob: Kindergarten teacherBefore Tampa: moved to Tampa at age 18 to attend collegeHome state: OhioI moved here in 2018 to go to the University of Tampa. I think Tampa is becoming a lot younger.
Persons: millennials, Zers, It's, somethings, Chris Brown, Chris Brown Job, Dylan, I've, I'd, , Noelle Lane, Nicole Lane, That's, Alexander Signori, it's, Joe Steilberg, Parker Klein, Let's, Laura Treche, There's Organizations: Service, Tampa, Chicago Home, Home, University of Tampa, Attended Florida State University, Tech, Riverwalk Locations: Tampa, Florida, Wall, Silicon, Tampa , Florida, Miami, TikTok, Austin, San Francisco, Tallahassee , Florida ; Massachusetts, Ohio, Massachusetts Tampa, I'm, Massachusetts, Chicago, California, LA, Los Angeles and New York, Sarasota, Bayshore, Tallahassee Hometown, South Florida, Charlotte , North Carolina, Northeast Boston, Denver, Seattle . Tampa, Texas, Jacksonville, Dallas, Hyde, Orlando, Tallahassee, Durham , North Carolina . North Carolina, St, Clearwater
The administration asked the justices to halt a Texas-based federal judge’s nationwide ruling that invalidated a Justice Department restriction on the sale of ghost gun kits while the administration appeals to the New Orleans-based 5th U.S. The rule clarified that ghost guns qualify as “firearms” under the federal Gun Control Act, requiring serial numbers and manufacturers be licensed. Several plaintiffs, including two gun owners and two gun rights advocacy groups challenged the rule in federal court in Texas. U.S. Judge Reed O’Connor on July 5 issued a nationwide order blocking the rule, finding that the administration exceeded its authority in adopting it. Reporting by Andrew Chung in New York and John Kruzel; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.
Persons: Joe Biden’s, Sellers, Judge Reed O’Connor, Andrew Chung, John Kruzel, Aurora Ellis Organizations: U.S, Supreme, Circuit, Appeals, Department, federal Gun Control, Alcohol, Tobacco, Firearms, Explosives, White House, Thomson Locations: Texas, New Orleans, Texas . U.S, , New York
'Barbie' and 'Oppenheimer' are both about death
  + stars: | 2023-07-26 | by ( Maiya Focht | ) www.businessinsider.com   time to read: +5 min
In their shared opening weekend, "Barbie" and' "Oppenheimer" have been breaking box office records. In box office-shattering numbers, people flocked to the theaters for the premieres of Christopher Nolan's "Oppenheimer" and Greta Gerwig's "Barbie". Life in plastic, not so fantasticIn what is now a viral meme, Barbie begins having incessant thoughts of death early on in the film, mid-dance sequence. 'Death, the destroyer of worlds'Cillian Murphy as J. Robert Oppenheimer in "Oppenheimer." Universal PicturesIt's easier to understand what "Oppenheimer" has to do with death.
Persons: Barbie, Oppenheimer, Christopher Nolan's, Greta Gerwig's, pinker, Mari Faines, Robert Oppenheimer, we're, Ruth Handler, Murphy, J, Albert Einstein, Einstein, Daniel Uhlfelder, you've, — we've, Faines, We're Organizations: Service, Global, Manhattan Project, Pictures Locations: Wall, Silicon, Florida, Russia
CNN —The leader of Niger has reportedly been seized by members of the presidential guard, triggering warnings from regional powers a coup is underway. They said heavily armed members of the Presidential Guard began assembling outside the Presidential Palace early on Wednesday morning. The journalist observed roughly twenty members of the Presidential Guard outside the palace complex later in the day. A statement on the presidency’s social media channels said President Mohamed Bazoum is “doing well.” CNN cannot verify the statement. Boureima Hama/AFP/Getty ImagesNigerian president Bola Tinubu – the current chair of ECOWAS – has also issued a statement condemning “unpleasant developments” in Niger.
Persons: Mohamed Bazoum, , Boureima, Bola Tinubu, , Tinbu, Bazoum Organizations: CNN, West African States, , Presidential Guard, Republic, Army, National Guard, “ ECOWAS, United States Africa Command, Reuters, Agence France, Presse, country’s Ministry of Defence, Ministry, Interior, la Republique, Agency, Getty Images, ECOWAS Locations: Niger, Niamey, , West, Republic, United, AFP, , Rue, Boureima Hama, Republic of Niger, West Africa, France
July 25 (Reuters) - The U.S. economy may ultimately skirt a recession, but it's felt like one for months at Jon Ferrando's 103 RV dealerships. "Our industry has always been a little challenged on forecasting around demand," said Jason Lippert, CEO of LCI Industries, a large supplier of parts to the RV industry that is also based in Elkhart. "If I was just looking at RV data, I would be screaming recession," said Michael Hicks, an economics professor at Ball State University in Indiana who tracks the industry, adding that pullbacks in RV shipments have signaled every U.S. recession since 1981. "We expect in the second half of this year shipments (of RVs) will start to increase again," Geraci said. Gregg Fore, an RV industry consultant who previously ran an RV parts supplier, said half the new inventory at some dealers he works with are 2022 models.
Persons: it's, Jon Ferrando's, Ferrando, Michael Happe, Eden, Jason Lippert, Michael Hicks, RVIA, Monika Geraci, Geraci, Gregg Fore, Tyler Hermon, Timothy Aeppel, Dan Burns, Paul Simao Organizations: Winnebago Industries, Federal Reserve, RV Industry Association, Thor Industries, LCI Industries, Ball State University, Dealers, Thomson Locations: U.S, Fort Lauderdale , Florida, RVs, United States, Elkhart , Indiana, Eden Prairie , Minnesota, Elkhart, Indiana, North America, RVing
Despite throwing events attended by thousands, Andrew Yeung has never made a cent off his parties. They've all gathered at the personal invitation of a 27-year-old Google product lead named Andrew Yeung. The terms of his visa stipulate that he can only derive income from his day job at Google. And there was nothing bigger in his father's mind than a tech job in the United States. It was the first Andrew Yeung party.
Persons: Andrew Yeung, techies, who's, Yeung, revelers, He's, hasn't, he's, Connor Roach, Benjamin Franklin, Yeung doesn't, Cliff Lerner, it's, Melissa Glazar, Lior Cole, I've, Cole, Glazar, Lerner, Keyser, didn't, Connor Roach Yeung, Monica, Sunny Yeung, Andrew, Sunny, he'd, Andrew doesn't, It's Organizations: Junto, Google, Cornell, CCP, Yeung's, Party, SXSW, The University of Toronto, Facebook, Art Basel, of Homeland Security Locations: Brooklyn, Belarusian, cabanas, Gowanus, New York, Austin, Miami, LA, phoniness, Silicon Valley, San Francisco, Hong Kong, United States, Central Park, Basel, Canada, Toronto
Chinese farmers have moved into a cluster of abandoned villas in China to grow crops and rear cattle. Jade Gao/AFP via Getty ImagesThe half-built villas are now overrun by local farmers, who plow the land and plant crops on the overgrown lawns of abandoned villas. Local farmers now plow the land of the abandoned development. Jade Gao/AFP via Getty ImagesThe insides of the buildings look post-apocalyptic too, like shots straight out of "The Last of Us." Shenyang's ghost villas are just one of many "rotten" real estate projects across China's urban landscapeThe interior of a deserted housing sales building.
Persons: Jade Gao, , riche, Guo, who's, Li Gan, Gan Organizations: Twitter, Service, AFP, Greenland Group, Getty, Getty Images, Texas, M University, Survey, Research Center, China Household Finance, Chengdu's Southwestern University of Finance, Economics Locations: China, AFP, Weibo, Wall, Silicon, Shenyang, China's, Liaoning province, Greenland, Evergrande, Li
China property stocks tumble on renewed debt fears
  + stars: | 2023-07-24 | by ( Clement Tan | ) www.cnbc.com   time to read: +1 min
Country Garden shares tumbled to fresh eight-month lows Monday, extending losses on renewed debt fears for the Chinese property sector. Future Publishing | Future Publishing | Getty ImagesStock Chart Icon Stock chart iconCountry Garden is seen as one of the largest property developers in the mainland. JP Morgan's analysts slashed target prices for Country Garden by more than 60% to HK$0.90 and Country Garden Services by nearly 70% to HK$6.70. The country's property sector is struggling to emerge from a credit crisis after the government cracked down on its debt levels in August 2020. Stock Chart Icon Stock chart iconYears of exuberant growth led to the construction of ghost towns where supply outstripped demand, as developers looked to capitalize on the desire for home ownership and property investment.
Persons: JP, Goldman Sachs Organizations: Future Publishing, Getty, Reuters, HK, Garden Services Locations: Wall
Gale’s inspiration for “Back to the Future” came in 1980 after seeing a photo of his father as a teenager in an old high-school yearbook, and he has become a passionate custodian of the franchise. That role dates back to at least 1989, the year a notorious “Back to the Future” Nintendo game was released. “One of the worst games ever,” he said. “The creative differences and the chemistry just didn’t work,” Ingram said. (Through a press representative, Lloyd confirmed that his departure was a mutual decision over creative differences but declined to comment further.)
Persons: , , Zemeckis, Leslie, Alan Silvestri, Glen Ballard, Silvestri, ” Gale, let’s, Gale, Colin Ingram, Ballard, Jamie Lloyd, ” Ingram, Lloyd Organizations: Nintendo, Polar, Broadway Locations: British
The post-pandemic economic recovery will proceed in a "wave-like" fashion in a "tortuous" process, it added. On Tuesday, Hong Kong and mainland China stock markets cheered the Politburo's policy pledges, outperforming broader Asia-Pacific benchmarks. The Chinese property sector saw some of the strongest percentage gains in Hong Kong, with developer Country Garden rebounding more than 14% from a nine-month low. By some calculations, the country's property sector still accounts for up to a quarter of China's annual economic activity. Expanding domestic demandLate Monday, China's top leaders pledged to "actively expand domestic demand" and to "expand consumption by raising income levels."
Persons: Xi Jinping, Li Qiang, China Vanke, Goldman Sachs, China's, Julian Evans, Pritchard Organizations: Getty, Communist, Xinhua, Barclays, Index, CSI, Longfor, China Overseas, Observers, Citi, People's Bank, China's, National, Capital Economics Locations: China, Hong Kong, outperforming, Asia
SOMEBODY’S FOOL, by Richard RussoWelcome back to North Bath, scrappy sibling to the larger, wealthier Schuyler Springs, down the road in woodsy upstate New York. While Schuyler Springs is famous for wine bars, pricey restaurants and a racetrack, North Bath (or “Bath”) prides itself on a rustic vibe, greasy spoons and scrapyards and grand Victorian fixer-uppers. Set over three days in February 2010, the novel opens with a bleak snapshot: The recession has wreaked havoc on local businesses and families. Russo reprises the cast from “Nobody’s Fool” (1993) and “Everybody’s Fool” (2016), framing their foibles as social comedy in the mode of Charles Portis or Charles Dickens. (There’s an allusion to “Great Expectations.”) As with both authors, tumult brews beneath sunny surfaces.
Persons: Richard Russo, scrappy, Schuyler, Richard Russo’s, , Donald “ Sully ” Sullivan, Sully’s, Peter, Ruth, Russo, Charles Portis, Charles Dickens Locations: North Bath, Schuyler Springs, woodsy, New York, Bath
“The recent heat waves and scorching summer temperatures demonstrate the economic cost of heat stress,” Chris Lafakis, Moody’s Analytics’ director of economic research, wrote in an emailed response to a CNN query. Moody’s Analytics estimates that chronic physical risk from heat stress could reduce worldwide GDP by up to 17.6% by 2100. The losses are steepest in sectors such as agriculture and construction, but no industry or business is immune, she said. “Every summer we have a stretch [of excessively hot weather], where it might last from four days up to a week,” he said. “We have to look at the potential of our business model shifting to a nine-month facility going forward,” she said.
Persons: Lyn Thomas, there’s, Thomas, she’s, , it’s, Chris Lafakis, Liliana Salgado, , Kathy Baughman McLeod, Adrienne Arsht, Cesar Chavez, Damian Dovarganes, That’s, Jack Vessey wasn’t, He’s, “ It’s, Vessey, Zeyla Alcantara, Patrick Tiseth, Jobs, Ami Feller, I’ve, Los Cerrillos, Harrold Granthan, Bonnie Mendoza, David Wagner, bloodsicles, Mendoza, Zach Fowle, Kyle Ledeboer, ” Fowle, ” They’ve, Justus Swanick, Joshua Graff Zivin, ” Graff Zivin Organizations: Minneapolis CNN, Phoenix, CNN, Reuters Workers, Rockefeller Foundation Resilience, Atlantic Council, Rockefeller, IBEW, Company, Lone Star, Roofer, Saddle Riding Company, Phoenix Zoo, Arizona Wilderness, Arizona Wilderness Brewing, University of California San Locations: Minneapolis, Louisiana, United States, California, Los Angeles, Holtville , California, Imperial County, Texas, New Braunfels, Santa Fe , New Mexico, Los, , Arizona, Phoenix, University of California San Diego
If Spain’s national elections on Sunday turn out as most polls and analysts suggest, mainstream conservatives may come out on top but need allies on the political fringe to govern, ushering the first hard-right party into power since the Franco dictatorship. The potential ascent of that hard-right party, Vox, which has a deeply nationalist spirit imbued with Franco’s ghost, would bring Spain into the growing ranks of European nations where mainstream conservative parties have partnered with previously taboo forces out of electoral necessity. It is an important marker for a politically shifting continent, and a pregnant moment for a country that has long grappled with the legacy of its dictatorship. Even before Spaniards cast a single ballot, it has raised questions of where the country’s political heart actually lies — whether its painful past and transition to democracy only four decades ago have rendered Spain a mostly moderate, inclusive and centrist country, or whether it could veer toward extremes once again.
Persons: Franco Organizations: Vox Locations: Spain
Here are the meanings of the least-found words that were used in (mostly) recent Times articles. Works by Agatha Christie, Robert Louis Stevenson and P. G. Wodehouse all featured tontine members plotting to kill one another in hope of a big payoff. — Dog Ziggity: New Jersey’s Own Hot Dogs (Sept. 24, 2013)And a bonus: arrant — total or extreme:It constitutes a dismissal of eager and innocent articulateness. And as such, it is an arrant and thoughtless injustice that must be stopped. — Opinion: A Language Test That Stigmatizes Black Children (Oct. 7, 2022)The list of the week’s easiest words:
Persons: tantara, orotund, Lorde, tontine, Agatha Christie, Robert Louis Stevenson, G, Wodehouse, today’s, Melmoth ’, Gatsby, Tom, Daisy Buchanan, Ross Douthat, , Umberto, monocracy, Sarkozy, ” — Sarkozy, viand Organizations: Umberto Eco, Socialists, Drinks Locations: New York, Prague, Texas
Gen Z is more interested in working from the office than any other generation. "At JPMorgan, you're probably never going to be the smartest person in the room," he told Insider. Gen Zers see the office as a place to growDespite having grown up online, Gen Zers dislike working from home more than other generations. Among Gen Z, 57% want in-person jobs, according an online survey of about 3,100 US job seekers conducted by Jobslist in the final months of 2022. Joshua Roizman, a Gen Z employee at a software-development company , said he understood why some in other generations might not want to schlep back to the office.
Persons: Sam Farber doesn't, Farber, It'll, , who've, aren't, Gen Zers, Slack, " Farber, Zehra Naqvi, Naqvi, She's, Z, Davina Ramkissoon, Joshua Roizman, Roizman Organizations: Service, JPMorgan, Kastle Systems, McKinsey Global Institute, Jobslist Locations: Wall, Silicon, Chicago, Asia, Europe, Dublin
It’s like there’s no point in asking who started this because it’s a really, really old antagonism. I think that’s probably what’s most critical right now is that all of our entertainment, our news media, it’s all made in cities. And he’s really pretty horrible, and he doesn’t feed them enough, and that’s really sad. You’re going to have a flat tire, and the guy that pulls up to help you is going to tell your dad within minutes. It’s not like most books you’re going to see.
Persons: Ezra Klein, ezra klein, , Hernan Diaz, Barbara Kingsolver, “ David Copperfield ”, Dickens, It’s, barbara kingsolver, you’ve, ezra klein We’re, Nobody, I’d, I’ve, Bobby Ann Mason’s, , — Wendell Berry, Robert Penn Warren, James Still, Harriette, Taylor Greer, you’re, George Washington, ” he’s, — he’s, he’s, I’ll, They’re, George W, Bush, they’re, barbara kingsolver You’re, we’ve, That’s, that’s, I’m, ” barbara kingsolver, barbara kingsolver Oh, barbara kingsolver ezra klein barbara kingsolver, ezra klein Yes, we’re, Charles Dickens, “ David Copperfield, , Tommy, ” It’s, ezra klein There’s, barbara kingsolver There’s, Tommy Traddles, Tommy Waddles, who’s, He’s, We’re, Tommy’s, she’s, it’s, Beth Macy, overdosed, ” ezra klein, There’s, grandkids, they’ve, Dori, doesn’t, Peggot, Frances Goldin, Arwen Donahue, She’s, Beth Macy’s, Lazarus, Laline Paull, ezra klein Barbara Kingsolver Organizations: New York, Fiction, Trump, Nicholas County High School, DePauw University, Walmart, The New York Times, . Times, New York Times, Farmers, , Knoxville —, Purdue Pharma, Purdue, aha, Scots Locations: Appalachia, It’s, Georgia, Tennessee, North Carolina, Virginia, Kentucky, West Virginia, Pennsylvania, U.S, exploitations, Congo, Caribbean, Indiana, Nicholas, Arizona, Europe, Tucson , Arizona, Tucson, Paris, Athens, France, “ Shiloh, MAGA, America, Brazil, Eastern Europe, There’s, California, New York, , Tommy, Pennington, Knoxville, there’s, nove, Lee County, that’s Lee County, that’s, United States of America, who’s, New York City
“I was an old-school hacker, doing it for intellectual curiosity,” Mitnick told Wired magazine in a 2008 interview. Mitnick and federal prosecutors agreed to a plea deal in 1999 to seven criminal counts, including wire fraud and causing damage to computers. Mitnick published a memoir on his hacking career, “Ghost in the Wires: My Adventures as the World’s Most Wanted Hacker,” in 2011. Following his prison term, Mitnick became a white-hat hacker, using his expertise to legally help businesses track people trying to break into their systems. “I made some really stupid mistakes in the past as a younger man that I regret,” Mitnick told CNN in a 2005 interview.
Persons: Kevin Mitnick, Matthew Broderick, Mitnick, , ” Mitnick, , Stu Sjouwerman, ” “ Kevin, ” Sjouwerman, Kevin, Kimberley Organizations: CNN, North American Aerospace Defense Command, Digital Equipment Corporation, Wired Locations: KnowBe4, Las Vegas
Empty Government Buildings Galore
  + stars: | 2023-07-18 | by ( The Editorial Board | ) www.wsj.com   time to read: 1 min
Journal Editorial Report: But some in the GOP don't like the picks. Images: Getty Images/Zuma Press Composite: Mark KellyManagers struggling to call workers back to empty offices should cheer up, because it could be worse. A new report shows that federal government buildings have reached their own tier of ghost town, making corporate towers look bustling in comparison. These vacancies could be either a burden or small gift to taxpayers, depending on how agencies respond.
Persons: Mark Kelly
But unlike many other US cities, much of DC's downtown office space is controlled by a single landlord: the federal government. There are three major issues when it comes to empty federal building space, Marroni said. Many congressional Republicans have also demanded that the Biden administration both restrict telework and get rid of unused office space. The White House Office of Management and Budget asked federal agencies in April to "substantially increase meaningful in-person work" by limiting telework. But there are concerns — including from employee unions — that restricting remote work could hurt the recruitment and retention of federal workers.
Persons: Muriel Bowser, hasn't, , David Marroni, Marroni, She's, Biden, Scott Perry, they've Organizations: Office, DC, Service, Republicans, Transportation, Infrastructure, GAO, Pennsylvania Republican, White, Office of Management, Department of Education, Department of Veterans Affairs, Post, Trump International Locations: Wall, Silicon, Washington, DC's, Pennsylvania
Opinion | A Look Back at Our Coming War With China
  + stars: | 2023-07-18 | by ( Carlos Lozada | ) www.nytimes.com   time to read: +4 min
For instance, what if China seeks to take the island by force and Washington opts to not respond? Published in 2021, “2034,” is basically a beach read about how we get to nuclear war. In “The Avoidable War,” Rudd cautions that the incentives for Beijing and Washington to escalate hostilities, whether to save lives or save face, “could prove irresistible.” Ackerman and Stavridis follow that script. Both the United States and China view themselves in exceptional terms, Allison explains, as nations of destiny. “China will be a falling power far sooner than most people think,” Brands and Beckley declare.
Persons: ” Kevin Rudd, ” Rudd, Rudd, , Elliot Ackerman, James Stavridis, , Allison, Thucydides, ” Ackerman, , Xi Jinping, China’s Organizations: Marine, NATO, Harvard, U.S, . Security, Brands, Beckley, ” Brands Locations: Xi, China, Australia, Taiwan, Washington, Munich, United States, Iraq, Afghanistan, South China, U.S, Beijing, San Diego, Shanghai, India, New York, New Delhi, America, China’s, Beckley
WASHINGTON, July 18 (Reuters) - The United States will announce a new pledge to buy $1.3 billion worth of military aid for Kyiv in its conflict with Russia in the coming days, two U.S. officials said. The previously unreported weapons package includes air defenses, counter-drone systems, exploding drones and ammunition, one of the U.S. officials said. The United States is using funds in its Ukraine Security Assistance Initiative (USAI) program, which allow President Joe Biden's administration to buy weapons from industry rather than pull from U.S. weapons stocks. The Pentagon has provided more than $10.8 billion in security assistance for Ukraine under the USAI in fiscal 2023, in seven separate tranches. Reporting by Mike Stone in Washington Editing by Don Durfee and Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.
Persons: Joe Biden's, AVEVEX, Australia's DroneShield, Washington, Mike Stone, Don Durfee, Angus MacSwan Organizations: Kyiv, Ukraine Security Assistance Initiative, L3Harris Technologies, AeroVironment Inc, U.S . Department, Ukraine Defense Contact, Pentagon, Thomson Locations: United, Russia, United States, Ukraine, U.S, Kyiv, California, Washington
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