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☆ Why are far-right parties on the march across Europe?
▼ + stars: | 2023-07-22 | by ( Christian Edwards | ) edition.cnn.com time to read: +14 min

Far-right parties are propping up coalitions in Finland and Sweden. Afraid of losing voters to UKIP (and other far-right parties), the governing Conservatives ended up adopting many of its positions. Chesnot/Getty Images Europe/Getty ImagesConversely, far-right parties have attempted to sanitize some of their rhetoric, hoping to appear a more credible electoral prospect. Leon Neal/Getty ImagesA different type of populismAnd so the recent successes of far-right parties cannot be explained by dramatic shifts in public opinion. A lot depends on the ability of mainstream parties – particularly on the left – to build tents big enough to accommodate their differences, rather than compromising with far-right parties to prop up their coalitions.

Persons: Donald Trump, –, Emmanuel Macron, Angela Merkel’s, Mario Draghi, Jaroslaw Kaczynski, Viktor Orban, Andrej Babis, Czech Michael Bloomberg, Czech Donald Trump, Meloni, Mussolini, Nigel Farage, Jack Taylor, Farage, Jean, Marie Le Pen, Marine, Lionel Jospin, Jacques Chirac, Petteri Orpo, Sanna Marin, Vilhelm Junnila, Ulif Kristersson, Mark Rutte’s, Pen, Chesnot, Philippe Marlier, ” Le, Matteo Salvini, Vladimir Putin, Tino Chrupalla, Alice Weidel, Thomas Lohnes, Omer Messinger, Larry Bartels, Boris Johnson, Leon Neal, Giorgia Meloni, Odd Andersen, Orban, Kaczynski, Rutte’s, Pedro Sanchez Organizations: CNN, White, Channel, European Central Bank, Italy’s, Vox, UK Independence Party, UKIP, European Union, EU, Conservatives, National, Socialist, Socialists, Finns Party, Swedish, Sweden Democrats, Rassemblement National, University College London, Lega, Ukraine, Russia, Former British, Italy's, NATO, Getty, Spain’s Locations: United Kingdom, United States, Europe, Brussels, Spain, Poland, Hungary, Germany, Czech, France, Finland, Sweden, Austria, European, Netherlands, Russian, Oxfordshire, Vilnius

☆ Elon Musk's Twitter sues top law firm Wachtell over $90 million fee for work under prior ownership
▼ + stars: | 2023-07-07 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Attorneys for Elon Musk filed suit this week against the law firm that represented Twitter when Musk was trying to take the company private last year, claiming the firm charged too much for its work. The lawsuit says Wachtell, Lipton, Rosen, and Katz, which was Twitter's firm prior to Musk's acquisition, racked up a $90 million "last minute" legal bill. Wachtell represented Twitter after Musk reneged on his initial offer to take Twitter private for $44 billion. The law firm helped close the deal in November 2022, and was paid that $90 million fee for its work securing the transaction, which was tendered at a significant premium to Twitter's public market valuation. Twitter sued Musk for not honoring his commitment to the company's shareholders, and Musk eventually relented, purchasing Twitter at the agreed upon price.

Persons: Elon Musk, Musk, Wachtell, Lipton, Rosen, Katz, Reid Collins, Tsai, It's, Ben Roth, — CNBC's Lora Kolodny Organizations: Tesla Inc, Elon, Twitter, X Corp, San Francisco, Google, Rosen Locations: San Francisco , California, Austin , Texas, Delaware, California, San Francisco

☆ Opinion: It’s not over yet in Russia, not by a long shot
▼ + stars: | 2023-06-26 | by ( David A. Andelman | ) edition.cnn.com time to read: +7 min

Halted indeed was the immediate crisis, but not the underlying foundations that Prigozhin and Putin had laid long before. “The oligarchic clan that rules Russia needed the war,” Prigozhin said. Now, in theory, though he is beyond the long arm of Putin’s justice system, he could still be brandishing a powerful cell phone and laptop. Indeed, Prigozhin’s Wagner Group seems to be the only force that’s winning at all methodically in Ukraine these days. Russia is not winning this war that was supposed to be over in a matter of days or weeks more than a year ago.

Persons: David A, Yevgeny Prigozhin, Wagner, Vladimir Putin —, Prigozhin, Alexander Lukashenko, Putin, ”, ” Prigozhin, scumbags, Konstantin Dolgov, renege, Prigozhin’s Wagner, Lukashenko, Dmitry Peskov, Antony Blinken, Dana Bash, “, Volodymyr Zelensky Organizations: CNN, French Legion of, The New York Times, CBS News, Kremlin, Putin, Twitter, Facebook Locations: Russia, Moscow, Belarus, Ukraine, Russian, Bakhmut, Kyiv, “ State

☆ KKR takes private markets right up to the checkout
▼ + stars: | 2023-06-20 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

It’s a cozy arrangement for all involved, and marks another step in private lenders’ encroachment into traditional financiers’ turf. KKR will now purchase and hold up to 3 billion euros of PayPal’s BNPL loans, originated in five European countries and typically a few months in duration. KKR can pump up its returns using leverage – the deal is funded partly from loans made by its own credit funds. Follow @JMAGuilford on TwitterCONTEXT NEWSFinancial technology firm PayPal announced on June 20 that it had signed a multi-year 3 billion euro replenishing loan agreement with asset manager KKR. The deal will see KKR purchase up to 40 billion euros of PayPal’s short-term buy-now-pay-later loans now and in the future.

Persons: Joe, Banks, John Foley, Katrina Hamlin Organizations: YORK, Reuters, Joe Public, KKR, PayPal, Citi, Thomson

☆ U.S. House Republicans target deeper spending cuts, raising shutdown threat
▼ + stars: | 2023-06-15 | by ( David Morgan | ) www.reuters.com time to read: +2 min

That is about $120 billion below the $1.59 trillion set out in the debt ceiling bill negotiated by Biden and McCarthy. The targets would maintain defense spending at the $866 billion level agreed in the debt ceiling legislation. "The debt ceiling bill set a ceiling, not a floor, for fiscal year 2024 bills. Lower spending levels could make it harder for the House to reach agreement with the Democratic-led Senate. Federal agencies could have to shut down if the two chambers are unable to agree to spending levels by October.

Persons: Kevin McCarthy, Joe Biden, Biden, McCarthy, Kay Granger, Rosa DeLauro, Democratic appropriator, Steve Womack, David Morgan, Andy Sullivan, Alistair Bell Organizations: Democratic, Republicans, Food and Drug Administration, Reuters, Republican, Thomson Locations: China

☆ The Big Part of the Debt Ceiling Deal Congress Isn’t Talking About
▼ + stars: | 2023-05-31 | by ( Margot Sanger-Katz | Alicia Parlapiano | ) www.nytimes.com time to read: +10 min

Annual deficit projections $3 trillion Current trajectory Full debt limit deal Debt limit bill House G.O.P. bill passed in April $2 trillion $1 trillion 2023 2028 2033 Annual deficit projections $3 trillion $2 trillion $1 trillion Current trajectory Full debt limit deal Debt limit bill House G.O.P. But negotiators are confident enough in the agreement that they are moving forward with the debt limit bill this week. The debt limit deal scenarios assume that after budget caps lift in 2026, Congress will increase spending in line with inflation. It's also possible that the entire deal holds, and the next Congress will still make vastly different spending choices.

Persons: Kevin McCarthy, Biden, “, It's Organizations: House Republicans, White, New York Times, Congressional, Republicans, Office, SNAP, Internal Revenue Service, Social Security, Medicare, Savings, Energy, Biden, Medicaid, of Commerce, Federal Locations: That’s, G.O.P, Washington

☆ Despite opposition, UK's Sunak wins post-Brexit trade vote in parliament
▼ + stars: | 2023-03-22 | by ( ) www.cnbc.com time to read: +3 min

British Prime Minister Rishi Sunak won the backing of parliament on Wednesday for a key element of a reworked post-Brexit deal on Northern Ireland. Despite the opposition, Sunak won the vote by 515 to 29, suggesting that several in his Conservative Party had abstained on the vote. "The Stormont brake is at the heart of the (Windsor) Framework," Northern Ireland minister Chris Heaton-Harris told parliament ahead of the vote. "It restores practical sovereignty for the United Kingdom as a whole and the people of northern Ireland in particular." Johnson, the face of the campaign to leave the EU, and his successor, Truss, both said they would vote against the brake.

Sunak has tried to end years of wrangling over Brexit by revisiting one of the trickiest parts of the negotiations - to ensure smooth trade to Northern Ireland without creating a hard border with Britain or with European Union-member Ireland. "I welcome parliament voting today to support the Windsor Framework," Britain's Northern Ireland minister Chris Heaton-Harris said on Twitter. "This measure lies at the very heart of the Windsor Framework which offers the best deal for Northern Ireland, safeguarding its place in the Union and addressing the democratic deficit." Sunak hailed securing the deal last month as a "decisive breakthrough" but by alienating the DUP he has failed in restoring the power-sharing government in Northern Ireland. DUP leader Jeffrey Donaldson told parliament his party could not return to Northern Ireland's power-sharing government "at this stage".

☆ US attorneys general condemn credit-card firms for backtracking on gun sale code
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +1 min

March 16 (Reuters) - A coalition of 14 attorneys general condemned payment networks majors including Visa Inc (V.N), American Express Co (AXP.N) and Mastercard Inc (MA.N) for pausing work on a merchant code to help detect suspicious gun sales in the United States. Visa, Mastercard and American Express did not immediately respond to Reuters requests for comment. Senators Bob Menendez and Elizabeth Warren have also called on federal regulators to help speed up the adoption of the MCC by payment networks. The MCC, aimed at identifying firearms sellers, would identify the type of store where consumers shopped, though not the individual items they bought. Reporting by Deborah Sophia in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Paul Ryan Says Even MAGA Diehards Believe Trump Can’t Win in 2024
▼ + stars: | 2023-03-06 | by ( David Marchese | ) www.nytimes.com time to read: +23 min

Photo illustration by Bráulio Amado Talk Paul Ryan Says Even MAGA Diehards Believe Trump Can’t Win in 2024For a good long time during the George W. Bush and Obama presidencies, Paul Ryan was considered one of the intellectual leaders and shining stars of the Republican Party. Get out of this race.” But I don’t think Trump is going to get the nomination. I don’t think we want the lack of liberty that comes with government-made equality. Where I part company with the left is I don’t believe in socialism. I don’t believe in equality of outcomes.

☆ Explainer: What is the Northern Ireland protocol?
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +5 min

[1/3] A truck parked beside a 'money changed' sign is seen on the border between Northern Ireland and the Republic of Ireland near Jonesborough, Northern Ireland, October 13, 2021. WHAT IS THE NORTHERN IRELAND PROTOCOL? Northern Ireland also remains part of the UK's customs territory, effectively creating a customs border in the sea between Britain and Northern Ireland. The protocol specifies those EU regulations and directives with which Northern Ireland must remain aligned, and means new EU acts may be added to those that apply in Northern Ireland. The Northern Ireland Protocol bill, if passed by parliament, would give the British government the power to unilaterally decide to all but renege on the agreement.

☆ Explainer: Talks on post-Brexit Northern Ireland trade edge closer to deal
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +5 min

WHAT IS THE NORTHERN IRELAND PROTOCOL? Northern Ireland also remains part of the UK's customs territory. That effectively created a customs border in the sea between Britain and Northern Ireland, which pro-British communities say erodes their place within the UK. The Democratic Unionist Party (DUP), Northern Ireland's biggest unionist party, also says the province should not have to follow laws without having a say. According to so-called dynamic alignment, this also means that any new EU acts may also be added to those that apply in Northern Ireland.

☆ Twitter sued over $1.9 million invoice that advisory firm Innisfree M&A claims went unpaid
▼ + stars: | 2023-02-05 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

Innisfree M&A claims it was hired to facilitate communications between Twitter and shareholders last year. After Musk's acquisition was finalized, Innisfree sent Twitter an invoice for $1.9 million, which was "processed" a month later. The suit claims Twitter has not responded to Innisfree's invoice and letters since December. The lawsuit is the latest in a string of recent legal and regulatory challenges filed against Twitter, including accusations of unpaid rent, and another unpaid bill from a private jet company, among others. Another San Francisco landlord sued over about $130,000 in unpaid rent in early January, and a real estate company belonging to King Charles III also sued Twitter over unpaid rent at a London office.

Christopher Gregory/Getty ImagesDonald McGahn, Trump campaign counsel: I was at the top. Trump's 2016 campaign aides said they paid about 50 people, including part-time actors, to appear as supporters for his 2016 campaign announcement. Corey Lewandowski, Trump campaign managerCorey Lewandowski: I called my wife just as we were getting onto the plane. Stuff that would be from Mars on any other campaign was perfectly normal for the Trump campaign. Mark J. Terrill/AP photo Show less Trump at the Republican National Convention while Cruz speaks on July 20, 2016.

☆ Carl Icahn, David Einhorn, and Dan Loeb bet big on Elon Musk ultimately buying Twitter - and likely raked in profits when the deal closed
▼ + stars: | 2022-11-15 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Carl Icahn, Dan Loeb, and David Einhorn built sizeable stakes in Twitter last quarter. Icahn and his team amassed 12.5 million Twitter shares, valued at $549 million on September 30. Similarly, Einhorn's Greenlight Capital scooped up 4.3 million shares, worth $188 million at the end of last quarter. It snapped up 5.5 million shares worth $241 million on September 30. It also purchased bullish call options on 34,000 shares, and bearish put options on 1.1 million shares.

☆ 2022 likely to be deadliest year for Palestinians in the occupied West Bank, U.N. says
▼ + stars: | 2022-10-29 | by ( Associated Press | ) www.nbcnews.com time to read: +6 min

The U.N. Mideast envoy said 2022 is on course to be the deadliest year for Palestinians in the occupied West Bank since the U.N. started tracking fatalities in 2005, and he called for immediate action to calm “an explosive situation” and move toward renewing Israeli-Palestinian negotiations. Wennesland said the month saw “a spike in fatal violence” that has 2022 on track to be the deadliest in the West Bank. More than 125 Palestinians have been killed in Israeli-Palestinian fighting in the West Bank and East Jerusalem this year. Ongoing Israeli arrest raids in the West Bank pose a serious challenge to Palestinian President Mahmoud Abbas’ Palestinian Authority. The Palestinians want the West Bank to form the main part of their future state.

☆ Cuba hosts first U.S. business conference in years, seeks investment
▼ + stars: | 2022-10-26 | by ( Marc Frank | ) www.reuters.com time to read: +3 min

[1/3] Cuba's Deputy Minister of Foreign Affairs Carlos Fernandez de Cossio listens to Phil Peters, founder of FocusCuba, during a conference in Havana, Cuba, October 26, 2022. "Almost everything we do is with the new booming private sector," said Cuban-American Hugo , whose Miami-based Fuego Enterprises Inc (FUGI.PK) operates an online food market that processes 4,000 orders in Cuba per day. "It is important American businesses see this for themselves," said Cancio, who was attending the conference. The Biden administration has loosened some restrictions on Cuba around remittances, tourism and migration. It has also expressed interest in supporting Cuba's private sector.

☆ The econ Nobel offers a timely warning about central banks’ power
▼ + stars: | 2022-10-10 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

New York CNN Business —The Nobel in economics is sort of the step-cousin of the Nobel family. Some scholars really dislike the economics prize, including one of Nobel’s own descendants, who dismissed it as a “PR coup by economists.”But hey, it still comes with a cash prize. In short, his work demonstrates that banks’ failures are often a cause, not merely a consequence, of financial crises. The Nobel committee has been known to play politics (see: that time Barack Obama was awarded the Nobel Peace Prize after being in office for just eight months). And right now, it is using its spotlight to call attention to the high-stakes gamble playing out at central banks around the world, most notably the Fed.

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