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Shutdown Concerns Remain High Despite Modest Progress
  + stars: | 2023-09-27 | by ( Kaia Hubbard | Sept. | At P.M. | ) www.usnews.com   time to read: +5 min
Passage of the full-year appropriations bills themselves, chock-full of conservative priorities and spending cuts that are nonstarters in the Senate, would not avert a shutdown this week. The Senate’s continuing resolution would keep funding at current levels until Nov. 17, along with appropriating around $6 billion in aid to Ukraine and $6 billion for domestic disaster relief. “By constantly adhering to what the hard-right wants, you’re aiming for a shutdown,” the New York Democrat said. Moreso, the legislation, despite having backing from a number of Senate Republicans, may face headwinds in the House. And whether House leadership even moves to bring the bill to the House floor should it pass the Senate remains an open question.
Persons: Kevin McCarthy, , Marjorie Taylor Greene, McCarthy, it’s, Chuck Schumer, Mitch McConnell, Sen, Rand Paul of Kentucky, Joe Biden, Biden, , ” McCarthy Organizations: GOP, Democrat, California Republican, New York Democrat, , Kentucky Republican, Ukraine, Moreso, Republicans Locations: California, Ukraine
Skyscrapers in the Canary Wharf financial, business and shopping district in London, UK. LONDON — London's office market is in a "rental recession," according to financial services company Jeffries, who reported that vacancies in the capital's business hub had hit a 30-year high. Jeffries analysts estimated there had been a 20% contraction in London office usage as working from home and hybrid working, as well as a move toward green offices, continue to be a priority. It said the level of vacancies was also above the tipping point at which rents would typically start to fall, apart from in the case of sustainability-focused buildings. Flexible, co-working and serviced offices take up around 9% of London's space and have moved into some of the vacant spaces, Jeffries said.
Persons: Jeffries Organizations: LONDON Locations: Canary, London
"The UK has been one of the real leaders in climate diplomacy and in their own emissions reductions," Ireland’s climate minister Eamon Ryan told Reuters. But according to the Climate Change Committee’s June 2023 progress report to parliament, to hit mid-way climate targets, Britain must quadruple its annual emissions reductions outside the electricity supply sector by 2030. He said he was changing the policy because previous governments had moved too quickly to set net zero targets, without securing the support of the public. Delaying net zero transition investments could prove politically popular, analysts observed, if an election was on the horizon. But "this framing only works if you think climate policy is a burden", said Bob Ward, a climate policy researcher at the London School of Economics and Political Science, adding that avoiding short-term costs was likely to lead to a greater bill for taxpayers down the road.
Persons: Eamon Ryan, Rishi Sunak, Bob Ward, Britain's, Simone Tagliapietra, Sunak’s, Philip Dunne, Susanna Twidale, Gloria Dickie, Kate Abnett, Elizabeth Piper, Ed Osmond, Alison Williams Organizations: Reuters, United Nations, London School of Economics, Political, Global, Thomson Locations: Britain, Ukraine, Poland, Slovakia, Netherlands, Brussels, U.S, London
European markets lower as negative momentum continues
  + stars: | 2023-09-26 | by ( Holly Ellyatt | ) www.cnbc.com   time to read: 1 min
Air France-KLM plans to order 50 Airbus A350 long-haul jets, along with the purchase rights for 40 extra aircraft, the carrier announced Monday evening. The first deliveries are expected from 2026, and completing the order would make Air France-KLM the world's largest operator of Airbus A350s. The planes will replace older vehicles, including Airbus A330 and older Boeing 777 aircraft. Shares of Air France-KLM were down 0.8% in early trading. — Hannah Ward-Glenton
Persons: — Hannah Ward, Glenton Organizations: Air France, KLM, Airbus, Boeing
Videos show netting strung between lampposts in an apparent Russian attempt to stop drone attacks. In one widely shared video, a drone simply flew over the netting and hit its target anyway. AdvertisementAdvertisementVideos are circulating online that appear to show Russian efforts to block Ukrainian drone attacks in or near Bakhmut using simple netting hung up between lampposts. Both Russia and Ukraine have made extensive use of cheap, hobby first-person view drones, loaded with explosives — to sometimes devastating effect, as Insider's Ryan Pickrell reported. AdvertisementAdvertisementFPV drones are guided by an operator who sees the drone's view through a headset.
Persons: , Igor Sushko, Samuel Bendett, Bendett, Insider's Ryan Pickrell, Sushko Organizations: Service, Center for Naval Locations: Ukraine, American, Bakhmut, Russia
NNN YTD mountain NNN REIT shares have fallen more than 22%. If that vision comes to pass, it could boost apartment operators such as Equity Residential , Avalonbay Communities and Apartment Income REIT , among others. PEAK YTD mountain Healthpeak shares are down 26% since January and hit a 52-week low Tuesday. Healthpeak shares hit a 52-week low on Tuesday, while Welltower shares shed more than 2%. Healthpeak shares are down more than 26% over the same period.
Persons: Jefferies, Jonathan Petersen, Petersen, Simon, Morgan Stanley, — CNBC's Michael Bloom Organizations: Federal Realty Investment Trust, Equity Locations: U.S, Canada
US urges continued humanitarian aid for Nagorno-Karabakh
  + stars: | 2023-09-26 | by ( ) www.reuters.com   time to read: +1 min
A satellite image shows a long traffic jam of vehicles along the Lachin corridor as ethnic Armenians flee from the Nagorno-Karabakh region, September 26, 2023. Acquire Licensing RightsWASHINGTON, Sept 26 (Reuters) - The United States urged continued humanitarian access to Nagorno-Karabakh on Tuesday as officials announced additional humanitarian assistance to address health care and other emergency needs. "We urge continued humanitarian access to Nagorno-Karabakh for all those in need." On a visit to Armenia, Samantha Power, head of the U.S. Agency for International Development (USAID), said on Tuesday the United States would provide $11.5 million in humanitarian assistance. Reporting by Jasper Ward and Doina Chiacu; Editing by Leslie Adler and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.
Persons: Adrienne Watson, Samantha Power, Jasper Ward, Doina, Leslie Adler, Marguerita Choy Organizations: Maxar Technologies, REUTERS, Acquire, Rights, United, National Security, U.S . Agency for International Development, USAID, Thomson Locations: Nagorno, Karabakh, United States, Armenia, States, Azerbaijan, Soviet Union
I think the optimism of India is actually completely justified," Dimon told CNBC-TV18's Shereen Bhan at the conference Monday . LONDON — JPMorgan Chase Chairman and CEO Jamie Dimon struck a bullish tone at the India Investor Summit, saying the optimism surrounding the country at the moment is "completely justified." The bank has increased its employee numbers in India from around 6,000 in 2005 to 60,000 today, Dimon added. India became the world's most populous country in April, with a total of 1.4 billion citizens, according to the United Nations. In his interview with CNBC-TV18, Dimon emphasized that it wasn't just a lack of confidence in China that was turning businesses towards India.
Persons: Dimon, Jamie Dimon, Narendra Modi, We're, It's, Morgan Stanley, Goldman Sachs, Olaf Scholz, Scholz, Modi Organizations: CNBC, LONDON, JPMorgan Chase, India Investor Summit, Indian, Accenture, McKinsey, Tata, United Nations, P Global, European Union, TV18 Locations: China, India, Japan, Germany, U.S, New Delhi
US Urges Continued Humanitarian Aid for Nagorno-Karabakh
  + stars: | 2023-09-26 | by ( Sept. | At P.M. | ) www.usnews.com   time to read: +1 min
WASHINGTON (Reuters) - The United States urged continued humanitarian access to Nagorno-Karabakh on Tuesday as officials announced additional humanitarian assistance to address health care and other emergency needs. The White House statement came as the death toll from an explosion and fire at a fuel depot in the breakaway enclave rose to 68, with a further 105 people missing and nearly 300 injured. "We urge continued humanitarian access to Nagorno-Karabakh for all those in need." On a visit to Armenia, Samantha Power, head of the U.S. Agency for International Development (USAID), said on Tuesday the United States would provide $11.5 million in humanitarian assistance. (Reporting by Jasper Ward and Doina Chiacu; Editing by Leslie Adler and Marguerita Choy)
Persons: Adrienne Watson, Samantha Power, Jasper Ward, Doina, Leslie Adler, Marguerita Choy Organizations: WASHINGTON, United, National Security, U.S . Agency for International Development, USAID Locations: United States, Karabakh, Nagorno, Armenia, States, Azerbaijan, Soviet Union
Why you should be traveling to Europe in fall, not summer
  + stars: | 2023-09-25 | by ( Terry Ward | ) edition.cnn.com   time to read: +9 min
And now it’s fall, when the continent really comes into its own as the leaves – and visitor numbers – start to drop. A recent report from luxury travel network Virtuoso named Paris, London and Florence as the most booked cities for fall travel. “Fall is one of the best times to visit Europe because of the vast variety of interests [the season] can cater to,” says Mina Agnos, president of luxury travel company Travelive. If you’re ready for a different take on Europe this fall, we’ve got ideas. Fall also means it’s harvest time in Rebland – an area southwest of Baden-Baden famous for its Riesling.
Persons: , Mina Agnos, foodies, Brian Young, we’ve, Sérgio Duarte, Octant, Val, Culinarium Urtijei, Christopher Hill, Holger Leue, it’s, Jack Ezon, Samantha Pearson, Notte Bianca, Valery Bareta, Belle, Caracalla Organizations: CNN, EMEA, G, Gran Canaria, UNESCO, ADLER, Mallorca Locations: Europe, Paris, London, Florence, Spain, Portugal, Turkey, Croatia, Greece, Sicily, Slovenia, Gibraltar, Tenerife, Ibiza, Mallorca, Gran, Alentejo, Douro, Val Gardena, Dolomites, Italy, Northern Italy, South, Ortisei, Romania, Brasov, Baia Mare, Saxon, Moșna, Mallorcan, Pollença, Palma . Thessaloniki, Thermaic, Santorini, Greece’s, Balkans, Mount Olympus, Thessaloniki, Malta Malta, Malta, Gozo, Comino, Valletta, Madeira, Morocco, Terrabona, Funchal, Savoy, Baden, Germany Baden, Black, Friedrichsbad
European markets opened lower Monday as investors reflected on a spate of central bank decisions last week and the prospect of higher-for-longer interest rates. The pan-European Stoxx 600 index was down 0.3% in early trade, with all sectors in negative territory. The Bank of England and the Swiss National Bank opted to pause their interest rate hiking cycles last week, in contrast to the "dovish hike" delivered by the European Central Bank on Sept. 14. Elsewhere, U.S. stock futures edged higher in overnight trading, set to enter the last week of trading in September with big losses. Stocks stateside have struggled this month as the Federal Reserve signaled higher interest rates for longer, sending bond yields rising.
Persons: Carsten Brzeski Organizations: Bank of England, Swiss National Bank, European Central Bank, ING, CNBC, Stocks, Federal Reserve
IndyCar will return to the Milwaukee Mile next season and Texas Motor Speedway is off the calendar for the first time since 1997 in the 2024 schedule released Monday. NASCAR is expected to return to the oval, and IndyCar will race the Indianapolis road course only once — in May ahead of the Indianapolis 500. IndyCar is still finalizing an exhibition race to be held in Argentina next season that was not part of Monday's schedule announcement. Political Cartoons View All 1176 ImagesSebastien Bourdais won the final IndyCar race at the track in West Allis, Wisconsin. IndyCar is coming off its most-watched season on record with an average Total Audience Delivery of 1.32 million viewers.
Persons: Rodger Ward, Michael Andretti, Bobby Unser, Mario Andretti, A.J, Foyt, Gordon Johncock, Johnny Rutherford, Tom Sneva, Paul Tracy, Al Unser, Sebastien Bourdais, Roger Penske, Peacock, , Mark Miles Organizations: IndyCar, Milwaukee Mile, Texas Motor, NBC, Texas, NASCAR, Indianapolis Motor Speedway, Indianapolis, Milwaukee, Labor, Indianapolis Motor, Wisconsin, Fair, NBC Sports, Penske Entertainment Corp, USA, Motorsports Park, America, Speedway, International Raceway Locations: Southern California, Nashville, , Argentina, West Allis , Wisconsin, Milwaukee, Wisconsin, St . Petersburg , Florida, Toronto, St . Petersburg, Long Beach, Detroit, Laguna Seca
21 Washington State withstood a late rally to upend No. 14 Oregon State 38-35 on Saturday in the Pac-12 Conference opener for both teams. Ward's TD run on the next possession gave Washington State a 14-0 lead. Deshaun Fenwick led Oregon State with 101 rushing yards and touchdown runs of 38, 9 and 4 yards. Washington State: Has a week off before traveling to No.
Persons: — Josh Kelly, Cameron Ward, Uiagalelei, Jack Velling, Ward, Kyle Williams, Ward's, Lincoln Victor, Kelly, Deshaun Fenwick, Damien Martinez Organizations: Washington State, Oregon State, Cougars, Beavers, Washington, Fresno State, FBS, THE, Wisconsin, Oregon, UCLA, AP Locations: Oregon, Washington State, Fresno, Washington, Utah
Rosenberg continued: "But it's a false debate because the choice isn't between a soft landing and a recession. Consumers are the lifeblood of the US economy, and if they're forced to cut back on spending, Rosenberg thinks growth would quickly turn negative. Investors nervous about the economy should target stocks in four defensive parts of the market, Rosenberg said: consumer staples, healthcare, telecommunications, and utilities. "As growth is scarce, you want to own what's scarce, so you want to own growth stocks," Rosenberg said. "I'm probably much more bullish on growth than I am on value because value is very cyclical, and growth stocks tend to be valued on a longer-term earnings profile."
Persons: David Rosenberg, Rosenberg, we've, Rosenberg isn't, hasn't, nonfarm payrolls, that's, Uncle Sam, " Rosenberg, they're, couldn't, he's, he'd Organizations: Federal Reserve, Rosenberg Research, Technology, Fed Locations: YOLO
The sun sets behind the lignite-fired power plant of Boxberg on August 18, 2023 in Neuliebel, Germany. Florian Gaertner | Photothek | Getty ImagesGermany needs to implement structural changes if it wants to prevent a political shift to the right, Commerzbank CEO Manfred Knof told CNBC at the Handelsblatt Banking Summit 2023. Knof also said Germany's small-to-medium-sized companies, known as the Mittelstand, were reluctant to invest in their own country because of the structural issues in Europe's largest economy. "We need more activities and ... [a] better framework for the German SMEs to invest in this country," he added. "A lot of family-owned companies ... have very operational plans to relocate," Russwurm said, adding that the current business conditions in Germany had created a "cocktail" of obstacles for companies.
Persons: Florian Gaertner, Manfred Knof, Knof, Siegfried Russwurm, CNBC's Annette Weisbach, Russwurm Organizations: Photothek, Getty, CNBC, Handelsblatt, Federal Ministry for Economic Affairs, Germany, German Industry Federation Locations: Boxberg, Neuliebel, Germany, Bavaria, Europe's
U.S. Abrams tanks will arrive in Ukraine next week, President Joe Biden said Thursday, and Ukrainian President Volodymyr Zelenskyy plans to address the Canadian Parliament in the next leg of his North American trip. In January, the U.S. said it would send 31 M1A1 tanks to Ukraine, which amounts to one entire Ukrainian tank battalion. Zelenskyy is expected to ask Prime Minister Justin Trudeau, a staunch ally of Ukraine, for further aid, while Biden hopes to provide a further $24 billion in aid, despite opposition from some Senate members.
Persons: Abrams, Joe Biden, Volodymyr Zelenskyy, Justin Trudeau, Biden Locations: Ukraine, U.S, Ukrainian
Sweden's central bank hiked interest rates for the eighth consecutive time on Thursday, taking the main rate to 4%, as the country continues to battle high inflation. The quarter-point increase is in line with the expectations of analysts polled by Reuters. Sweden's headline inflation, which excludes energy costs, slowed more than expected last month, coming to 7.2% for the month of August, according to Statistics Sweden. The Swedish economy is "going in the right direction," the central bank said in a statement, while nevertheless highlighting that inflationary pressures "are still too high." Stefan Ingves, former central bank governor, in January warned that Sweden was facing its "day of reckoning," as house prices plummeted and the wider economy stuttered.
Persons: Stefan Ingves, I've, Ingves Organizations: Reuters, Statistics Sweden, U.S Locations: Swedish, Sweden
The Federal Reserve is widely expected to hold rates steady Wednesday, but the central bankers will give an update on their economic outlook with the summary of economic projections, which includes one key chart that traders will have an eye on. The so-called "dot plot" that charts the projected move in the Fed funds rate and the press conference of Chair Powell will give investors a clue as to what happens in the November meeting and into 2024. "I think that they will keep that bias towards higher rates in there and indicate that they are willing to raise the funds rate further if the data start to show that either inflation is not slowing as they expect it to, or if the labor market remains too tight," said Gus Faucher, chief economist at PNC Financial Services Group. Read more about the meeting here. — Jeff Cox, Jesse Pound
Persons: Powell, Gus Faucher, Read, — Jeff Cox, Jesse Pound Organizations: Federal Reserve, PNC Financial Services
U.K. Prime Minister Rishi Sunak speaks to the media during his visit to Shell St Fergus Gas Plant in Peterhead on July 31, 2023 in Aberdeenshire, Scotland. LONDON — U.K.-based industry bodies and automakers on Wednesday criticized British Prime Minister Rishi Sunak, amid reports that he is preparing to dilute several key net-zero climate pledges. A press representative for the prime minister's office declined to comment on the BBC report. However, interior minister Suella Braverman on Wednesday insisted in broadcast comments that the prime minister's approach to green policies was "pragmatic." On the long term, weakening the UK climate policies "could hurt economic growth by undermining domestic and overseas investment in a range of sectors that are developing and deploying clean technologies, such as heat pumps and electric vehicles.
Persons: Rishi Sunak, Sunak, Lisa Brankin, Brankin, Mike Hawes, Chris Skidmore, Suella Braverman, Bob Ward, Chris Hewett Organizations: Shell St Fergus Gas Plant, LONDON, British, BBC, Ford, Society of Motor Manufacturers, Traders, Ministers, Conservative Party, Labour, Grantham Research, Solar Energy Locations: Shell, Peterhead, Aberdeenshire, Scotland, Britain, Grantham, U.S, China, EU, India
The global debt-to-GDP ratio now sits at around 336%, which is up from 334% in the fourth quarter of 2022, the report said. The ratio had experienced seven consecutive quarters of decline, before resuming its upward trajectory in the first half of 2023. The stock of global debt rose $10 trillion in the first half of 2023, bringing it to a new record high of $307 trillion, according to a report by the Institute of International Finance released Tuesday. Worldwide spikes in inflation were the main factor causing the decline in debt ratio, helped by higher borrowing costs and tighter lending standards. Consumer debt meanwhile remains "largely manageable" in mature markets, the IIF said, with the household debt ratio dropping to its lowest level in two decades in the first half of 2023.
Persons: Organizations: Institute of International Finance, Federal, Group Locations: U.S, Japan, France, China, India, Brazil
Afp Contributor | Dpa | Getty ImagesDeutsche Bank CEO Christian Sewing said Germany will become the sick man of Europe if "structural issues" are not addressed immediately. "We are not the sick man of Europe," Sewing said in his keynote address at the Handelsblatt Banken Summit 2023 on Wednesday, "but it is also true that there are structural weaknesses that hold back our economy and prevent it from developing its great potential." "We will become the sick man of Europe if we do not address these structural issues now," he added. The Deutsche Bank CEO said that the biggest task lies with banks, whose roles are changing in the current macroeconomic climate. This is a great responsibility, but also a great opportunity to create new trust," Sewing said.
Persons: Getty Images Deutsche Bank CEO Christian Sewing Organizations: Dpa, Getty Images Deutsche Bank CEO Christian, Deutsche Bank CEO Locations: Frankfurt, Afp, Germany, Europe
The victory column and TV tower are pictured in front of the sunrise in Berlin, Germany. Germany finds itself at a crossroads of global issues as it deals with an economic contraction, according to Peter Oppenheimer, chief global equity strategist and head of macro research EMEA at Goldman Sachs. "The predicament that the economy is facing at the moment is really down to a number of factors," Oppenheimer told CNBC Tuesday, with challenges in the manufacturing sector, a disappointing China reopening boost and higher energy costs contributing to the recession in Europe's largest economy. "It's … not a deep recession but it's obviously been more hit by obvious headwinds," Oppenheimer said. The comments reflect the latest projection by the Bundesbank, which estimated Monday that the German economy is likely to shrink this quarter thanks to slow private consumption and industry stuttering.
Persons: Peter Oppenheimer, Goldman Sachs, Oppenheimer Organizations: Goldman, CNBC Locations: Berlin, Germany, China
The pan-European Stoxx 600 index was 0.3% lower in morning trade, with sectors mostly in negative territory. European markets were downbeat at the start of this week's trading, following their Asia-Pacific counterparts lower as investors look ahead to a week of central bank decisions. Elsewhere this week, Australia's central bank will release its minutes for its Sept. 5 policy meeting on Tuesday and on Friday, the Bank of Japan will conclude its monetary policy meeting. Elsewhere, the People's Bank of China is also expected to release its loan prime rate decisions on Friday. In Europe last week, the European Central Bank increased interest rates by 25 basis points, a 10th consecutive hike taking its main rate to a record high of 4%.
Organizations: U.S, Federal, Bank of Japan, People's Bank of, European Central Bank Locations: Asia, People's Bank of China, Europe
The Russian flag flying outside la Maison Russe, or the Russian House, a cultural center in Bangui. As the Kremlin tries to get its arms around Wagner’s sprawling commercial network, what’s next for the group remains unclear. Anfisa Alexandrovna Kiryanova (right) appears in the background of a photo of Prigozhin outside the Russian House last month. In three tents outside the center, Russian language classes were taking place, while Russian movies were being screened in a cinema room. “He was my friend, he was my best friend in front of all central African people,” he said of the late mercenary boss.
Persons: Central African Republic CNN —, Wagner, Yevgeny Prigozhin, Vladimir Putin, Prigozhin’s, ” Nathalia, , ” Dukhan, Faustin, Masked Wagner, Maison, Dmitry Syty, , Syty, Prigozhin, Nafisa, Anfisa Alexandrovna Kiryanova, Kiryanova, begrudgingly, Touadera, Vitali Perfilev, CNN’s, Fidèle, Gouandjika, , Sebastian Shukla, ” Gouandjika, Putin, Organizations: Central African, Central African Republic CNN, Central African Republic, Russe, Russian, Bangui . CNN, Kremlin, CNN, Wagner, European, European Union, United, Local, Sorbonne, Linguistic University, US, Russia’s Ministry of Defence, Ilyushin IL Locations: Bangui, Central, Central African Republic, la, Russian, Bangui ., Moscow, Russia, United States, Paris, Prigozhin
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