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SEOUL, South Korea (AP) — A South Korean court on Monday acquitted Samsung Electronics Chairman Lee Jae-yong of financial crimes involving a contentious merger between Samsung affiliates in 2015 that tightened his grip over South Korea’s biggest company. The court said the prosecution failed to sufficiently prove the merger between Samsung C&T and Cheil Industries was unlawfully conducted with an aim to strengthen Lee’s control over Samsung Electronics. Lee had denied wrongdoing in the current case, describing the 2015 merger as “normal business activity.”Lee, 56, did not answer questions from reporters as left the court. Lee Jae-yong served 18 months in prison after being convicted in 2017 over separate bribery charges related to the 2015 deal. Some shareholders had opposed the 2015 merger, saying that it unfairly benefited the Lee family while hurting minority shareholders.

Persons: Lee Jae, Lee, ” Lee, Jin Kim, Lee Kun, Park, Yoon Suk, tycoons, Kim Tong, hyung Organizations: Samsung, Korea’s, Seoul Central, Cheil Industries, Samsung Electronics, Prosecutors, South, National Pension Service Locations: SEOUL, South Korea, Seoul, Ukraine

LONDON (AP) — The International Monetary Fund’s chief economist has advised the U.K. government to avoid further tax cuts amid expectations Prime Minister Rishi Sunak’s battered administration will do just that to win over voters in an election year. “In that context, we would advise against further discretionary tax cuts as envisioned and discussed now,” Gourinchas said. Hunt is focusing on longer-term projections, noting that the IMF expects growth to strengthen over the next few years. “It is too early to know whether further reductions in tax will be affordable in the budget, but we continue to believe that smart tax reductions can make a big difference in boosting growth,” he said. Concerns about responsible fiscal policies are especially sensitive for Sunak and Hunt as they came to power after their predecessors were widely criticized for announcing millions of pounds in tax cuts without saying how they would be paid for.

Persons: Rishi Sunak’s, Pierre, Olivier Gourinchas, Jeremy Hunt, Jan, Gourinchas, “, ” Gourinchas, Hunt, ” Organizations: Monetary Fund’s, National Health Service, IMF, Treasury, Conservative Party Locations: Britain

STAVANGER (AP) — Norway’s oil fund reported the largest annual return in its history Tuesday, a performance led by U.S. technology companies and Danish pharmaceutical company Novo Nordisk, which makes the diabetes-turned-weight loss drug Ozempic. Norway’s Government Pension Fund Global, the world’s largest sovereign wealth fund, said it also benefited in 2023 from market excitement over the rapid adoption of artificial intelligence technology such as ChatGPT. The six largest contributors to the fund’s growth were the U.S technology companies Microsoft, Apple, NVIDIA, Meta, Amazon and Alphabet. Nova Nordisk also makes a higher dose version of the same medication that is sold as a weight loss drug under the brand name Wegovy. Political Cartoons View All 253 ImagesThe Government Pension Fund Global, known commonly as the Oil Fund, invests Norway's profits from oil and gas, and owns around 1.5% of all the companies listed globally.

Persons: Nicolai Tangen, Tesla, Ozempic Organizations: STAVANGER, Novo Nordisk, Fund, Oil, Microsoft, Apple, NVIDIA, Meta, Nova Nordisk, Nordisk, Government Pension Fund, Oil Fund Locations: U.S, Danish, Norway’s, Norway, Denmark

☆ Premarket stocks: The US is pulling ahead in the economic race with China
▼ + stars: | 2024-01-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

It appears that a soft landing, where price rises are tamed and the economy manages to avoid recession, is possible. Before the Bell: Is it fair to say that the US is outpacing China in the race for economic supremacy? Just last year people might have said the opposite — that the US was heading towards recession and the Chinese economy was thriving. It is remarkable to see the US economy blazing ahead while the Chinese economy sputters and slips into deflation. What else should investors be aware of when they read about the Chinese economy?

Persons: Bell, Eswar Prasad, Jamie Dimon, he’s, Marianne Lake, Jennifer Piepszak, Piepszak, Troy Rohrbaugh, Rohrbaugh, Dimon, hasn’t, “, Brian Fung, Oregon Democratic Sen, Ron Wyden, Biden Organizations: CNN Business, Bell, New York CNN, Cornell University, International Monetary, JPMorgan, JPMorgan Chase, Bloomberg, NSA, National Security Agency, Oregon Democratic, Pentagon, CNN Locations: New York, China, Oregon

How Houthi Attacks Have Upended Global ShippingShipping routes before attacks After attacks EUROPE ASIA Suez Canal Red Sea Gulf of Aden Malacca Strait AFRICA Area of Houthi attacks Continued traffic South Atlantic Ocean Indian Ocean Ships diverted after attacks Cape of Good Hope Shipping routes before attacks After attacks EUROPE ASIA Suez Canal Gulf of Aden Red Sea AFRICA Area of Houthi attacks Continued traffic South Atlantic Ocean Indian Ocean Ships diverted after attacks Cape of Good Hope Shipping routes before attacks After attacks EUROPE Suez Canal Gulf of Aden Red Sea AFRICA Area of Houthi attacks Continued traffic Ships diverted after attacks Cape of Good Hope Note: To show the changing paths of ships that regularly traverse the Red Sea, 3,461 cargo vessels recorded at entrances to the Red Sea in the last three months are shown. Those detours, and the Houthi attacks, have persisted despite airstrikes by the United States and its allies against the Houthis. Houthi attack involving commercial vessels Other Houthi attacks in the Red Sea Three commercial vessels were struck in one day on Dec. 3. Nov. 15, 2023 Dec. 1 Dec. 15 Jan. 1, 2024 Jan. 15 Houthi attack involving commercial vessels Other Houthi attacks in the Red Sea Nov. 15, 2023 Armed Houthi fighters boarded a commerical vessel. The Houthi attacks have delayed China’s annual surge in exports before its factories are idled next month for the Lunar New Year.

Persons: Cape, Jan, JPMorgan Chase, Port Said Organizations: Global Shipping Shipping, Atlantic, Ships, Good Hope Shipping, Shipping, United States Central Command Shipping, Ikea, East, JPMorgan, Maersk, U.S . Energy Information Administration, Rotterdam EUROPE Venice, Good Hope, EUROPE Venice, International Monetary, Trade, Galaxy Leader, U.S . Navy, America Locations: ASIA Suez, Aden Malacca Strait AFRICA, ASIA Suez Canal Gulf, Aden Red, Suez Canal Gulf, Suez, Africa, Yemen, Israel, Gaza, United States, U.S, Asia, Europe, China, Northern Europe, East Coast, Maersk Hong Kong, The Singapore, Singapore, Slovenia, Port Said, Egypt, Port, Russia, Ukraine, India, Rotterdam EUROPE, Rotterdam EUROPE Venice Barcelona, Istanbul ASIA SYRIA LEBANON IRAN ISRAEL IRAQ Strait, Hormuz GAZA Suez, Kuwait, Red, Mumbai Malacca, YEMEN AFRICA, Aden, Good, Good Hope EUROPE ASIA SYRIA LEBANON ISRAEL IRAN IRAQ GAZA Suez, Strait, Hormuz Red, YEMEN, EUROPE, EUROPE Venice Tokyo Barcelona, Istanbul Shanghai ASIA SYRIA LEBANON IRAN ISRAEL IRAQ GAZA, Hormuz Hong, Suez Canal Kuwait, AFRICA Red, Mumbai Bangkok YEMEN Malaca, Istanbul Shanghai SYRIA LEBANON IRAN ISRAEL IRAQ ASIA GAZA, Suez Canal AFRICA Kuwait City Red, Red Sea, Beijing

Trading on the world's largest exchange would give JBS, which applied in July, access to more capital and enhance its credibility. Political Cartoons View All 253 ImagesThe dispute highlights the connection between finance and various drivers of climate change, such as deforestation. Two-thirds of Amazon deforestation results from conversion to pasture for livestock, according to the Brazilian government. In 2020, it created the JBS Fund For the Amazon. In the three years since inception, the JBS Fund for The Amazon has provided $15 million to 20 projects, according to its website.

Persons: ”, JBS, Elon Musk, Carlos Nobre, Liège Correia, Andrea Azevedo, “, ” Azevedo, Azevedo, Glenn Hurowitz, it's Organizations: Securities and Exchange Commission, New York Stock Exchange, U.S, Democrats, Republicans, SEC, NYSE, Associated Press, Brazil’s Agencia Publica, JBS S.A, JBS Fund, The, Forest Peoples Connection, Elon, SpaceX, Good Food Institute, United Nations, JBS, AP Locations: BRASILIA, Brazil, United States, United Kingdom, Rondonia, pirarucu, U.S, Dubai, AP.org

☆ Brookfield’s energy M&A loss is teachable moment
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Dec 4 (Reuters Breakingviews) - Brookfield Asset Management (BAM.TO), has some wounds to lick. On Monday the Canadian investment firm’s joint $13 billion offer with MidOcean Energy for Australian power generator and retailer Origin Energy (ORG.AX)failed after the bidders secured backing from 69% of voted shares, below the required 75% threshold. It could target smaller local energy firms, like Alinta Energy and EnergyAustralia, owned by Hong Kong-based Chow Tai Fook Enterprises and CLP (0002.HK) respectively. Brookfield has made other investments from its $15 billion global transition fund, including to co-buy Westinghouse Electric. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Bruce Flatt, Chow, Brookfield, Antony Currie, Neiman Marcus, Una Galani, Thomas Shum Organizations: MELBOURNE, Reuters, Brookfield Asset Management, MidOcean Energy, Origin Energy, Alinta, Chow Tai Fook Enterprises, CLP, HK, Westinghouse, X, Saks, Thomson Locations: Brookfield, Hong Kong

☆ Target date funds: What are they and should you invest in one?
▼ + stars: | 2023-12-02 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

New York CNN —If you are in a 401(k) plan at work, you very likely have the option to invest in a so-called target date fund, which also may be called a retirement date fund or a lifecycle fund. At the end of 2020, the vast majority of plans (86%) offered target date funds, and 59% of 401(k) participants had money invested in one. Typically a target date fund is a “fund of funds” – meaning its portfolio is made up of both stock funds and bond funds selected by the manager. It is especially critical in your 50s to revisit your fund’s glide path to (and possibly after) the fund’s retirement date. “If you’re an overanalyzer or overthinker, or you don’t want to worry about it, target date funds are for you,” Sharick said.

Persons: Madison Sharick, Madi, Bryan Minogue, Minogue, fund’s, Sharick, Stacy Miller, ” Miller, “ it’s, –, ” Sharick Organizations: New, New York CNN, Research Institute, Kardinal Locations: New York, U.S, Tampa , Florida

☆ Can Argentina really move from the peso to the dollar?
▼ + stars: | 2023-11-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

2 economy and ditch its peso currency in favor of the US dollar. Milei must tackle inflation above 140%, a shortfall in foreign currency reserves and the prospect of another painful recession. Argentina’s financial markets are closed Monday for a local holiday, but the peso weakened slightly in partial trade to stand at around 353.58 to the US dollar. Bruno Gennari, Argentina expert at fixed income broker dealer KNG Securities, said the peso was trading at $1,009 versus the dollar on crypto exchanges Monday, considerably weaker than the $869 and $975 rates seen on Friday. Dollarization means Argentina would give up the peso and use the US dollar as its currency, effectively wresting control of monetary policy from the country’s central bank and handing it to the US Federal Reserve.

Persons: London CNN — Javier Milei, Sergio Massa, Milei, ” —, —, ” Milei, ”, “, Bruno Gennari, Javier Milei, Natacha, dollarization, ” William Jackson, “ It’s, Thierry Larose, ” Larose, Kristalina Georgieva, Jackson, — Valentina Gonzalez, Stefano Pozzebon, Olesya Dmitracova Organizations: London CNN, Libertad Avanza, Peronist, “, ” Financial, Argentine, State, Banco, Grupo Financiero Galicia, KNG Securities, US Federal Reserve, AP, Capital Economics, Vontobel, Management, CNN, Monetary Fund, Bank, IMF, Reuters Locations: Argentina, New York, Brazil, Mexico, Dollarization, Argentina’s, Zurich, dollarization, Washington, DC, Argentine

☆ Activist ValueAct Builds Stake in Disney
▼ + stars: | 2023-11-15 | by ( Robbie Whelan | Lauren Thomas | ) www.wsj.com time to read: 1 min

Disney has called its theme parks, along with cruises, one of four building blocks of its future. Photo: Joe Burbank/Orlando Sentinel/Associated PressDisney has attracted the interest of another activist investor that believes the company is undervalued, with ValueAct Capital accumulating a stake in the entertainment giant’s stock and initiating dialogue with its board. ValueAct, an activist fund based in San Francisco with investments in information technology, energy, financials and media, has taken a “sizable” but so far undisclosed stake in Disney that makes it one of the fund’s biggest holdings, according to people familiar with the matter.

Persons: Joe Burbank Organizations: Disney, Orlando Sentinel, Associated Press Disney, ValueAct Capital Locations: San Francisco

CNN —The Chinese government has built up the world’s largest known online disinformation operation and is using it to harass US residents, politicians, and businesses—at times threatening its targets with violence, a CNN review of court documents and public disclosures by social media companies has found. Victims face a barrage of tens of thousands of social media posts that call them traitors, dogs, and racist and homophobic slurs. While tech and social media companies have shut down thousands of accounts targeting these victims, they’re outpaced by a slew of new accounts emerging virtually every day. As part of a mission “to manipulate public perceptions of [China], the Group uses its misattributed social media accounts to threaten, harass and intimidate specific victims,” the complaint states. In the past, the Spamouflage network mostly focused on issues domestically relevant to China.

Persons: –, Xi Jinping, Biden, Mike Gallagher, Chen Pokong, ”, Chen, “, Spamouflage’s, Liu Pengyu, ” Liu, Jiayang, Darren Linvill, hasn’t, Fan, Communist Party playbook, Mandiant, Nancy Pelosi, ” Ben Nimmo, George Floyd’s, Ben Nimmo, Lindsay Gorman, Gorman, ” Linvill, Linvill, Spamouflage, Jiajun Qiu, Qiu, ” Qiu Organizations: CNN, US State Department, FBI, Communist Party, Meta, Google, ”, CCP, US Department of Justice, Department, DOJ, China’s Ministry of Public Security, Group, New Yorker, telltale, Media, Clemson University, Capitol, Department of Homeland Security, Marshall Fund’s Alliance, Securing Democracy, YouTube Locations: United States, Beijing, San Francisco, China “, New York, China, New York City, America, Washington, Hong Kong, US, Texas, Virginia, Manassas , Virginia

Roem, 39, already had two comfortable reelection victories in her northern Virginia House of Delegates district. Only two folks who saw the mailers phoned her and she’s having lunch with one of them to talk things through. ___HER INNER MAYORAs a trailblazer for trans politicians, Roem is celebrated in Democratic and cultural circles. Her slogan for the 2023 campaign was “Fixing roads, feeding kids.” Much of Roem’s social media feed reads like a transportation diary — or the work of a mayor. In her first two campaigns, Roem had her own past investigated, to avoid being blindsided.

Persons: Danica Roem, toting kabobs, Roem, Glenn Youngkin, ” Roem, “, ”, Annise Parker, —, Roem “, Parker, ‘ electable, Bob Marshall, Virginia’s, she's, ” Marshall, Marshall, Bill Woolf III, — “ Organizations: WASHINGTON, Dodge Shadow, Democratic, Delegates, Republican Gov, Associated Press, Houston, “, Capitol, Dodge, Airport, + + Locations: Arlington , Virginia, Virginia, Delaware, Richmond, United States, Centreville, Manassas

The fallout has extended to Washington, where Republicans are hunting for evidence that could be used to impeach President Joe Biden. Republicans have highlighted a $200,000 personal check from Jim to Joe Biden on the same day — March 1, 2018 — that Jim Biden received an equal amount from Americore. Concerns that Jim Biden’s business ventures and missteps would cloud Joe Biden’s political career stretch back decades. Court records show the matter was dropped, and Jim Biden's representatives said the bill was paid. But he’s also angry at Jim Biden's brother.

Persons: ELLWOOD, Jim Biden, Joe Biden, Jim Biden wasn’t, Americore, It’s, Joe Biden’s, Hunter, Biden, Jim, ”, Paul Fishman, “, Ian Sams, Republicans won’t, ” Jim Biden, James Comer, he’s, ” Comer, Jim Biden's, Sara, Joe, Jill, Jim Biden’s, Barack Obama’s, Narendra Modi, Valerie, Frank, Beau, Beau Biden, ” Hunter, Uncle Jim, Hollywood Roosevelt, ‘, Let’s, ’ ”, Hurricane Irma, Tom Pritchard, Pritchard, ” Pritchard, Obama, Jim Biden “, ” Fishman, Michael Lewitt, Lewitt, Fishman, Biden’s, Grant White, ” White, Donald Trump, Scott Paglia, Paglia, ___ Suderman, Rhonda Shafner Organizations: ELLWOOD CITY, Health, House Republicans, Republicans, ., Democrats, Americore, Rep, Kentucky Republican, franchise, Senate, Delaware News, Oval, White, Indian, University of Delaware, Internal Revenue Service, CEFC China Energy . Records, American Express, U.S . Department of Veteran Affairs, Platinum Global Partners, Securities and Exchange Commission, Wall, Democratic, Associated Press Locations: Pa, Florida, Ellwood City, Pennsylvania, Washington, “, China, Philadelphia, Delaware, Mississippi, California, Los Angeles, Qatar, Saudi Arabia, South Florida, Delray Beach , Florida, Richmond , Virginia, New York

☆ Warring Billionaires, a Rogue Trader, a Divorce: One Hedge Fund’s Tale of Woe
▼ + stars: | 2023-11-06 | by ( Maureen Farrell | More About Maureen Farrell | ) www.nytimes.com time to read: +1 min

Two Sigma, one of the world’s largest hedge funds, has long prided itself on two things: the sophisticated, in-house algorithms that power its trading, and its commitment to secrecy. But recent internal troubles have forced Two Sigma to air its dirty laundry. In October, it had more bad news: An employee had altered some trading models without the firm’s knowledge, affecting its returns and drawing regulatory scrutiny. It’s the kind of mess that any investment firm wants to avoid for fear of losing clients and talent, especially one that has avoided the spotlight for much of its 22 years of existence. In a 2015 profile of Two Sigma, Forbes magazine said the two founders were “obsessive about avoiding publicity and keeping the firm’s secrets under wraps.”

Persons: David M, Siegel, John A, unbeknown Organizations: Sigma, New, Mr, Internal Revenue Service, Forbes Locations: New York

☆ McCormick wants the US to divest from China. As a hedge fund manager, he oversaw investments in Chinese companies grow more than a thousand-fold
▼ + stars: | 2023-11-04 | by ( Em Steck | ) edition.cnn.com time to read: +5 min

However, as the head of the world’s largest hedge fund, McCormick oversaw massive investments into US exchange traded Chinese companies and holdings, according to a CNN KFile review of the hedge fund’s holdings. I held deep reservations about Bridgewater’s exposure to the moral and patriotic hazards of doing business in China,” McCormick said in September 2023 before officially launching his campaign. That amounts to a 108,000% increase in Chinese holdings over a five-year period. In 2017, Bridgewater reported investing in just one US exchange traded Chinese company; by the final quarter of 2021, its holdings included 47 Chinese companies. McCormick’s hedge fund also held an additional $779 million indirectly in Chinese companies through their investments in exchange traded funds.

Persons: David McCormick’s, McCormick, ” McCormick, Hugh Hewitt’s, CNN’s KFile, Bush, Mehmet Oz, Oz, Democrat John Fetterman, Bridgewater, Elizabeth Gregory, “, he’s, Ray Dalio –, thievery ”, ” Organizations: New, New York CNN, US, CNN, CCP, Bridgewater Associates, US Securities and Exchange, Bridgewater, Republican Party, Republican, Democrat, Chinese Communist Party, US Commerce Department Locations: New York, Pennsylvania, hardliner, China, McCormick’s, United States, Xinjiang, ”

☆ How Does the World’s Largest Hedge Fund Really Make Its Money?
▼ + stars: | 2023-11-01 | by ( Rob Copeland | More About Rob Copeland | ) www.nytimes.com time to read: +2 min

For years, the whispered questions have passed from one Wall Street trading floor to the next. Bridgewater Associates, a global investing force, had $168 billion under management at its peak in 2022, making it not just the world’s largest hedge fund, but also more than twice the size of the runner-up. Yet the hedge fund’s overall descriptions of its investment approach could be maddeningly vague. Mr. Dalio often said he relied on Bridgewater’s “investment engine,” a collection of hundreds of “signals,” or quantitative indicators that a market was due to rise or fall. (One rule reads, in part: “Not all opinions are equally valuable so don’t treat them as such.”)

Persons: Ray Dalio, Dalio, Bridgewater Organizations: Bridgewater Associates, Bridgewater, White, Federal Reserve Locations: Manhattan, Bridgewater

☆ Brookfield’s climate deal may run out of energy
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

The logo of Australian energy company Origin is pictured in Melbourne, Australia, July 3, 2016. REUTERS/Jason Reed/File Photo Acquire Licensing RightsMELBOURNE, Oct 31 (Reuters Breakingviews) - Australia’s top pension fund has aptly chosen Halloween to try to scare Brookfield Asset Management (BAM.TO) and co-bidder MidOcean Energy to dig deeper in their pursuit of Origin Energy (ORG.AX). AustralianSuper said on Tuesday it intends to vote its near-14% stake against the current A$18.7 billion ($12 billion) offer next month. On that score, the pension fund’s intervention may frighten the deal to death. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jason Reed, AustralianSuper, Antony Currie, Peter Thal Larsen, Thomas Shum Organizations: REUTERS, Rights, Reuters, Asset Management, MidOcean Energy, Origin Energy, X, Vodafone, Thomson Locations: Melbourne, Australia, –, Brookfield, MidOcean, Spain

☆ Hedge Fund Two Sigma Is Hit by Trading Scandal
▼ + stars: | 2023-10-29 | by ( Gregory Zuckerman | Juliet Chung | ) www.wsj.com time to read: 1 min

Two Sigma, co-founded by David Siegel, is attracting fresh regulatory scrutiny. Photo: Jeenah Moon/Bloomberg NewsA researcher at Two Sigma Investments adjusted the hedge fund’s investing models without authorization, the firm has told clients, leading to losses in some funds, big gains in others and fresh regulatory scrutiny. The researcher, Jian Wu, a senior vice president at New York-based Two Sigma, was trying to boost his compensation, Two Sigma has told clients, without identifying Wu. He made changes over the past year that resulted in a total of $620 million in unexpected gains and losses, according to people close to the matter and investor letters. Two Sigma has placed Wu on administrative leave.

Persons: David Siegel, Jian Wu, Wu Organizations: Sigma, Bloomberg, Sigma Investments Locations: New York

☆ Black entrepreneurs, business leaders say conservative legal challenges could hinder progress
▼ + stars: | 2023-10-28 | by ( Nicquel Terry Ellis Cnn | ) edition.cnn.com time to read: +8 min

Trigg-Jones said she applied for funding from grant groups, venture capital funds and investors, but most of them denied her. Late last month, a federal appeals court granted the Alliance’s motion to temporarily block the Fearless Fund from awarding grants exclusively to Black women entrepreneurs. Black business leaders told CNN the lawsuits, if successful, could stand to undo decades of progress toward leveling the playing field for Black and brown people in the workplace and small business sector. According to a 2019 report from American Express, Black women are the fastest growing demographic of entrepreneurs in the country. Black business owners are turned down for loans at a rate three times higher than White business owners, according to a 2020 analysis of small businesses by Goldman Sachs.

Persons: Cathleen Trigg, Jones, –, you’re, ” Trigg, Edward Blum, Blum, Fearless, ” Blum, “, Goldman Sachs, Arian Simone, ”, AAER “, Rashae Barnes, Barnes, ” Barnes, Kaycea Campbell, ” Campbell, Lenwood Long, —, Long, CNN’s Jaide Timm, Garcia, Isabel Rosales, Tami Luhby Organizations: CNN, Trigg, American Alliance for Equal Rights, Civil, American Express, “, Evals Equity, Pierce College Los Angeles, Federal, Consumer Finances, African American Alliance of Community Development Financial, Black Locations: New York, PitchBook, White

☆ What’s next for the auto strikes
▼ + stars: | 2023-10-26 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +8 min

But the strike at the company isn’t quite over, and there’s no immediate end in sight for the strikes at General Motors and Stellantis. And pay increases will be even greater for some workers who were being paid at a lower pay tier. Generally union members do not return to work when a tentative agreement is reached until after a ratification vote is concluded. The Mack Trucks deal also had double-digit pay hikes of 10% immediately and 20% over the four-year life of that contract. But it didn’t have the COLA or some of the other gains the union achieved in the deal at Ford.

Persons: “, Ford, Isaiah Goddard, He’s, ”, Chuck Browning, Shawn Fain, “ We’re, John Deere, Mack Trucks, Fain, John Lawler Organizations: New, New York CNN, Ford, General Motors, United Auto Workers, Chrysler, CNN, UAW, Stellantis, GM, Management, Fortune, EV Locations: New York, Ypsilanti , Michigan, Ford

☆ Russian war economy is overheating on a powder keg
▼ + stars: | 2023-10-25 | by ( Pierre Briancon | ) www.reuters.com time to read: +8 min

LONDON, Oct 25 (Reuters Breakingviews) - His war on Ukraine may not be unfolding according to plan, but President Vladimir Putin can still claim that the Russian economy is performing, as he says, “better than previously expected”. This kind of understatement is unusual for the Kremlin leader: with a tight labour market and inflation showing no signs of abating, the Russian economy is in fact overheating. And these are conservative numbers, because other types of war spending – such as new construction in the occupied territories – are hidden in other sections of the budget. The Russian currency is down 30% since its January high. Follow @pierrebri on XCONTEXT NEWSThe Russian economy will grow by 2.2% in 2023, the International Monetary Fund said in its October World Economic Outlook.

Persons: Vladimir Putin, “, Putin, Alexandra Prokopenko, Yevgeny Prigozhin, Wagner, Francesco Guerrera, Streisand Neto, Thomas Shum Organizations: Reuters, Kremlin, International Monetary, Bank of Russia, Reuters Graphics Reuters, Bank of, Danone, Carlsberg, International Monetary Fund, Thomson Locations: Ukraine, Russian, Russia, –, Moscow, Europe, Lithuania, microchips, Kazakhstan, Bank of Russia, United States, China, U.S, Beijing

☆ Davos in the Desert: Jamie Dimon and other bankers visit Saudi Arabia as Israel-Hamas war rages
▼ + stars: | 2023-10-24 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

Dubbed “Davos in the Desert,” the annual Future Investment Initiative (FII) will welcome about 6,000 participants from more than 90 countries over the next three days. Since the Hamas assault on October 7, Israel has widened its offensive against the Palestinian militant group and other regional enemies. Saudi Arabia’s crown prince Mohammad bin Salman, denied any personal involvement in Khashoggi’s murder but later confirmed it was carried out by Saudi officials. Bin Salman chairs the Public Investment Fund. “Very few people” had canceled plans to attend the conference, according to Richard Attias, the CEO of the FII Institute, the event’s organizer.

Persons: Jamie Dimon, Citigroup’s Jane Fraser, Defense Lloyd Austin, Larry Fink, Goldman Sachs, David Solomon, Noel Quinn, Ray Dalio, Stephen Schwarzman, Harvey Schwartz, Blackstone, Carlyle, “ We’re, it’s, ”, Fraser, Fink, “, Karen E, WeWork, Slack, Jamal Khashoggi, Saudi Arabia’s, Mohammad bin Salman, Bin Salman, bin Salman, Masayoshi, Richard Attias, Young, — Winston Lo, Michelle Toh Organizations: London CNN, “, Future Investment Initiative, Defense, Palestinian, Israel Defense Forces, West Bank, HSBC, Citigroup, Saudi, Public Investment Fund, Columbia University’s Center, Global Energy, CNN, Reliance Retail, Softbank’s Vision, Future Investment, FII Institute, Young of Columbia University Locations: Saudi Arabia, Israel, “ Davos, Gaza, Lebanon, Riyadh, Ukraine, Europe, United States, Washington, Russia, Saudi, Istanbul, Kingdom, Hong Kong

☆ As Abortion Access Shrinks, Hospitals Fill in the Gaps
▼ + stars: | 2023-10-23 | by ( Allison Mccann | ) www.nytimes.com time to read: +16 min

As Abortion Access Shrinks, Hospitals Fill in the Gaps For this article, Allison McCann and Jamie Kelter Davis spent time with a patient from Indiana as she underwent an abortion at a Chicago hospital. Alaska Fla. Hawaii 16% 18% 20%+ Total or six-week abortion ban Wash. Maine Mont. Dr. Jonah Fleisher is a co-director of the Complex Abortion Regional Line for Access, or CARLA, which helps abortion patients find appointments at four Chicago-area hospitals. Chronic Conditions and Abortion Bans These health conditions, especially when left untreated, can add risks for abortion patients. Alaska Fla. Hawaii Diabetes among women High blood pressure among women Cardiovascular disease among women 9% 11% 13%+ 28% 30% 32%+ 5% 6% 7%+ Total or 6-week abortion ban Total or 6-week abortion ban Total or 6-week abortion ban Wash. Wash. Wash. Maine Mont.

Persons: Allison McCann, Jamie Kelter Davis, ”, “, Roe, Wade, Conn ., Dobbs, Jenni Villavicencio, Jonah Fleisher, CARLA, Laura Laursen, Laursen, Dr, Conn . Conn ., Kan ., Nev, PolicyMap, “ It’s, Allison Cowett, Erica Hinz, couldn’t, Caroline Nyheim, Qudsiyyah Shariyf, Megan Jeyifo, J.B . Pritzker, CARLA —, — you’re, Mr, Pritzker Organizations: ” RUSH University Medical Center, Health, Ore, Conn . Pa . Iowa Neb, N.J . Ohio Nev, Ill . Utah Md, ., . Ill . Utah Md, OB, Society for Family Planning, Midwest, RUSH University Medical Center, Diabetes, Conn . Pa . Iowa Neb . Ohio Nev, N.J ., N.M, Hawaii Diabetes, N.D ., Vt, Wis ., Pa . Conn . Iowa Neb, Pa . Iowa Iowa Nev, Nev . N.J ., Ariz . D.C, Black, S.C . Iowa Miss, Nev . D.C, White, Family Planning, Chicago Abortion Fund, South, Nurses, Chicago Abortion, Illinois, Gov Locations: Indiana, Chicago, Indianapolis, . Maine, N.D, Vt, Minn, N.H . Wis, Idaho, S.D, Mich, Conn, Conn . Pa . Iowa, N.J . Ohio, Ind, Ill . Utah, W.Va, Colo . Va, Kan, Calif, Mo, Ky, R.I, N.C, Tenn, Del, ., S.C ., Ga, Ala . Miss . Texas La, Alaska Fla, Hawaii, N.J, Nev . Ohio, . Ill . Utah, R.I . Tenn, Okla, Illinois, N.H . Wis . Idaho, Wyo, Conn . Pa . Iowa Neb . Ohio, N.J . Ind, Ariz ., Pa . Conn . Iowa, . Ind, . Ark, N.H, Wis . Idaho S.D, N.Y, Wash . Maine, N.D . Maine Maine Mont, Mont, Minn . Vt, Ore, Mass, Wis, Wis . Idaho Idaho, Conn . Conn, Conn . Conn . Pa, Pa . Iowa, Pa . Iowa Iowa Nev . Ohio, Neb . Ohio, Nev . N.J, Nev . N.J . Ohio, W.Va . Ind, Ill, Colo . Utah Utah Md, Md, W.Va . Va . Colo, Colo, Ky . Va . Va, Kan . Kan, R.I . Ky, Okla . Tenn, Ariz . Ark, Ala . Miss ., Ala . Ala . Miss, . Texas La . Texas Texas, La . Alaska Alaska Alaska Fla, Fla, Hawaii Hawaii Hawaii, Ohio, Pa . Minn, Neb, Mo . Md, Ala, Wash, Ky . N.J, Conn . Va . Ind, S.C . Iowa, Ariz, Tex, Nev ., Fla ., Massachusetts

☆ Opinion | The Secret of America’s Economic Success
▼ + stars: | 2023-10-23 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

In the United States, 20 million jobs suddenly disappeared. Indeed, as we approach Covid’s four-year mark, many of the world’s economies remain well short of full recovery. But not the United States. Not only have we had the strongest recovery in the advanced world, but the International Monetary Fund’s latest World Economic Outlook also points out that American growth since 2019 has actually exceeded pre-Covid projections. But let’s take a moment to celebrate this good economic news — and try to figure out what went right with the U.S. economy.

Persons: — Organizations: Monetary Locations: United States, U.S

☆ IMF steering committee calls for new funds, share plan by June 2025
▼ + stars: | 2023-10-14 | by ( ) www.reuters.com time to read: +1 min

International Monetary and Financial Committee (IMFC) chair Nadia Calvino leaves after a press conference during the annual meeting of the International Monetary Fund and the World Bank, following last month's deadly earthquake, in Marrakech, Morocco, October 14, 2023. A statement issued by the Fund's steering committee chair, Spanish economy minister Nadia Calvino, also called for proposals to change the Fund's shareholding formula by June 2025. The statement did not specify any funding amounts but left the door open to a potential near-term funding increase without changes in near-term shareholding. "In order to maintain the Fund’s current resource envelope until a quota increase becomes effective, we call on the Executive Board to propose transitional arrangements," the statement said. Reporting by David Lawder; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

Persons: Nadia Calvino, Susana Vera, David Lawder, Diane Craft Organizations: Monetary, Financial, International Monetary Fund, World Bank, REUTERS, Rights, Monetary Fund, Thomson Locations: Marrakech, Morocco, Rights MARRAKECH

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