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Damron’s design rocketing to internet fame is just one story of how women’s fan apparel has found itself in the spotlight. Within a month, that jacket's designer, Kristin Juszczyk, would score a NFL licensing deal. These meteoric success stories have illustrated the potency of a market for women’s sports apparel that merges fashion and fan culture. “I’m glad more of this stuff can start being made,” Robinson, a Black designer who runs Boujee Basics, says. The upfront costs were too steep for another Black designer, De'fron Fobb, 45, who wanted to craft items when the New Orleans Saints made the Super Bowl in 2010.

Persons: Jake Browning’s, Taylor Damron, Browning’s, Stephanie Niles, ” Damron, Taylor Swift, Travis Kelce’s, Kristin Juszczyk, Swift, Kyle Juszczyk, Simone Biles, Taylor Lautner, Brittany Mahomes, Juszczyk, ”, Tayler Adigun, Adigun, Mariah Carey, Larena Hoeber, ” Hoeber, “ What’s, ’, Niles, Frankie, Sara Gourlay, Zak Miller, they've, Kristin, she’s, ” Miller, Armour, Kiya Tomlin, Mike Tomlin, Alexis Robinson, “ I’m, ” Robinson, “, it’s, De'fron Fobb, He’s, ‘ We’re Organizations: Cincinnati Bengals, Cleveland Browns, Kansas City Chiefs, Miami Dolphins, San Francisco 49ers, NFL, National Breast Cancer Foundation, NBA, Baltimore Sun, Sports, University, Regina, Adidas, Nike, National Hockey League, Pittsburgh Steelers, New Orleans Saints Locations: Carolina, Baltimore, Louisiana

☆ Jude Bellingham: The 20-year-old Englishman leading Real Madrid’s La Liga title charge
▼ + stars: | 2024-02-11 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —Jude Bellingham’s debut season at Real Madrid has exceeded all expectations so far, fueling his team’s La Liga title charge. And against Girona on Saturday, the 20-year-old scored another two goals to seal Real Madrid’s decisive 4-0 victory over its unlikely title challenger and go five points clear at the top of the La Liga table. There are few players in the world who can match his movement for his first goal.”Real Madrid was already 1-0 up when Bellingham scored his first of the evening. Jude Bellingham scored Real Madrid's second goal against Girona. “He’s incredible and I hope he keeps scoring goals all campaign,” Vinícius told Real Madrid TV.

Persons: CNN — Jude Bellingham’s, Carlo Ancelotti, Zidane, it’s, Ancelotti, “ Zidane, Bellingham, Vinícius Jr, ’, Jude Bellingham, Pierre, Philippe Marcou, Vinícius, Rodrygo, “, ” Vinícius, “ He’s, he’s, ” Organizations: CNN, Real Madrid, La Liga, Girona, Liga, ” Real Madrid, Real Madrid's, Getty, Bellingham, Real Madrid TV Locations: Bellingham, AFP, Girona

A screengrab from a video, geolocated by CNN to the town of Qaim, Iraq, shows the aftermath of US military strikes in the area according to the Iraqi Military. US officials say the strikes hit four facilities in Syria and three in Iraq, where security officials reported damage in the city of Al-Qaim. The sites allegedly belonged to various Iran-backed militias, which the US blames for the strike in Jordan. The US does not plan to strike inside Iran: A senior official with the Biden administration told CNN the US will not strike inside Iran – only focusing on targets outside of the country. Striking inside Iran would have been a huge escalation, and officials have telegraphed that is unlikely to happen.

Persons: Joe Biden, Lloyd Austin, Biden, Jordan, Douglas Sims, Sims, John Kirby Organizations: CNN, White House, Pentagon, Defense, Air Force, National Security Locations: Qaim, Iraq, Iraqi, Jordan, Syria, Al, Iran, Israel, Lebanon, Yemen, Gen

The US said the attack lasted 30 minutes, hitting 85 targets across seven locations in Iraq and Syria. In 2016, the Iraqi parliament passed a bill recognizing the PMU as a government entity operating alongside the Iraqi military. A screengrab from a video, geolocated by CNN to the town of Qaim, Iraq, shows the aftermath of US military strikes in the area, according to the Iraqi Military. Iraq and Syria condemned the US attack as infringements on their sovereignty that risk fueling regional conflict. “The United States does not seek conflict in the Middle East or anywhere else in the world,” Biden said in a statement Friday, following the strikes on Iraq and Syria.

Persons: Joe Biden, –, Biden, Kennedy Ladon Sanders, Sanders, Matt Rourke, Qaim, Turki Al, John Kirby, Washington, ”, SANA, Kirby, Douglas Sims, “, Mike Johnson, ” Johnson, Jack Reed, Lloyd Austin, ” Biden, Charles Lister, ” Lister, Ebrahim Raisi Organizations: CNN, Hamas, Army, US Army, Dover Air Force Base, House, Hezbollah, Al, US National Security, Syrian, Joint Chiefs of Staff, Iran’s Revolutionary Guard Corps, Iraq’s Armed Forces, United Nations Charter, Republican, Senate Armed, US, Coalition Forces, Austin, Middle East Institute, Iraq Locations: United States, Iraq, Syria, Jordan, Iran, Gaza, Israel, Delaware, Iraqi, Al, ” Syria’s, Deir Ezzor, Gen, Qaim, ” Syria, Washington ,, Tehran

☆ Russia boasts it is beating sanctions, but its longer-term prospects are bleak
▼ + stars: | 2024-01-29 | by ( Tim Lister | ) edition.cnn.com time to read: +14 min

Far from buckling under their weight, the Russian economy is in fact 1% larger than it was on the eve of the invasion. India and China now account for 90% of Russian oil exports, according to Deputy Prime Minister Alexander Novak. Noemi Cassanelli/CNNThere’s little sign that ordinary Russians have been drastically impacted by Western sanctions. Sanctions will have a long-term impact on the Russian economy, according to the European Commission. Nabiullina said the Russian economy was like a car trying to go too fast.

Persons: Vladimir Putin, Putin, Sergei Chemezov, ” Chemezov, Scott Peterson, Alexander Novak, Christine Abely, “, ”, SWIFT, Alexei Mordashov, Noemi Cassanelli, Geoffrey Pyatt, Rachel Lyngaas, —, Alexander Nemenov, Elvira Nabiullina, Nabiullina, Natalia Kolesnikova, ” Abely Organizations: CNN, Atlantic Council, Russia, West ., Shipping, Windward, Reuters, US Treasury Department, United Arab Emirates, Crime Agency, US Treasury, “, Bank of, European, US, Financial Times, Russian Central Bank, Getty, Producers, International Energy Agency Locations: United States, Ukraine, Russian, Russia, Western, Sviatohirsk, Donetsk region, Asia, West, West . India, China, India, Volgograd, Turkey, UAE, Bank of Finland, Hong Kong, Europe, Egypt, Thailand, Moscow, Kazakhstan, Soviet Russia, AFP, Beijing

☆ The Magnificent Seven stocks led 2023's market. Here's what the pros expect for 2024
▼ + stars: | 2023-12-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Megacap technology stocks reascended the throne in 2023 after a debilitating 2022 left some investors sour on the outlook for the industry. The stocks are really going to have to show what the next big thing is." Even as it outperformed the market, the e-commerce giant's gains were overshadowed by other large megacaps flaunting their latest AI innovations, with some worrying Amazon may be falling behind on AI technology . Semiconductor companies Intel , Broadcom and Lam Research also look attractive even if Mag 7 stocks maintain their leadership position as AI proliferates, Woods said. "It's a story that is just starting to play out and we're just going to build on it going forward," he said.

Persons: Tesla, Jay Woods, hasn't, Capital's, Woods, aren't, DoorDash, Uber, Neuberger, Dan Flax, Bard, missteps, Gene Munster, Ken Mahoney, Richard Bernstein, wouldn't, Brent Fredberg, we're Organizations: Federal, Nvidia, Amazon, Apple, Microsoft, Meta, Tesla, Freedom Capital, Asset Management, Richard Bernstein Advisors, Brandes Investment Partners, outperformance, Micron Technology, Semiconductor, Intel, Broadcom, Lam Research Locations: GOOGL

☆ German government unveils budget fixes as way out of crisis
▼ + stars: | 2023-11-27 | by ( Christian Kraemer | ) www.reuters.com time to read: +5 min

The government said the spillover effects from the energy crisis that hit in 2022 after Russia's invasion of Ukraine and caused rocketing prices had created an emergency situation that justified suspending the debt brake. The leader of Scholz's SPD urged the government to consider suspending the debt brake next year, a move rejected in particular by the fiscally hawkish Free Democrats (FDP). "The debt brake must remain." The debt brake, introduced after the global financial crisis of 2008-2009, was first suspended in 2020 to help the government support firms and health systems during the COVID-19 pandemic. On Monday he stressed the need to give companies, which have been worried by the uncertainty caused by the budget crisis, clarity as quickly as possible.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Annegret, Olaf Scholz's, finalising, Scholz's, Christian Duerr, Bijan Djir, Christian Kraemer, Riham Alkousaa, Amir Orusov, Rachel More, Matthias Williams, Thomas Escritt, Alison Williams, Tomasz Janowski Organizations: Finance, Climate, REUTERS, Free Democrats, ZDF, Greens, Thomson Locations: Berlin, Germany, BERLIN, Ukraine, Sarai, East Germany

☆ Cocaine still Colombia drug gangs' top export despite fentanyl's ascendancy
▼ + stars: | 2023-11-15 | by ( Luis Jaime Acosta | Thomson Reuters | Luis Jaime Has Worked At Reuters For More Than Years. While He Chiefly Covers Colombia'S Armed Conflict | ) www.reuters.com time to read: +2 min

Rocketing consumption of synthetic drug fentanyl in the U.S. has led some - including Colombia's President Gustavo Petro - to forecast declines in cocaine production in the Andean country, the world's leading producer. Coca production is taking place in new areas and fresh trafficking routes are opening up, Zapata said. Ecuador's incoming president, Daniel Noboa, who takes office this month, has promised to confront rising crime in the country, where violence linked to drug trafficking has increased sharply. Colombia hopes to destroy 200 square kilometers of coca crops by the end of the year and seize a record 834 tons of cocaine. "Drug trafficking is changing.

Persons: Luisa Gonzalez, Gustavo Petro, We're, Nicolas Zapata, Petro, Zapata, Daniel Noboa, we've, Luis Jaime Acosta, Oliver Griffin, Marguerita Choy Organizations: REUTERS, Rights, Colombian, United Nations Office, Drugs, Thomson Locations: Putumayo, Colombia, Rights BOGOTA, U.S, Europe, Ecuador

☆ Top bitcoin miners sold everything they produced last month and cashed out some of their own holdings as the token's price surged
▼ + stars: | 2023-11-07 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

Top bitcoin miners sold more tokens than they produced last month, according to data portal The Miner Mag. Thirteen public miners sold $164 million worth of bitcoin, cashing in on its price rally in October. Miners' bitcoin liquidation-to-production ratio last month was 104%, up from 70% over the summer. AdvertisementAdvertisementTop crypto miners capitalized on the surge in bitcoin prices last month, selling more tokens than they produced. According to a post on crypto data portal The Miner Mag, 13 public bitcoin miners, including Hut 8 and Bit Digital, sold a total of 15,492 tokens worth $164 million.

Persons: —, bitcoin Organizations: Miners, Service Locations: Riding, what's

☆ NASA sent a spaceship rocketing by an asteroid — and discovered the space rock has a little baby one dancing around it
▼ + stars: | 2023-11-03 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +2 min

NASA sent a spacecraft flying by the Dinkinesh asteroid. The agency discovered that Dinkinesh is actually a binary asteroid system. The Lucy spacecraft discovered that the larger asteroid has a baby asteroid dancing around it. But the Lucy spacecraft returned images showing that the asteroid Dinkinesh is actually a binary asteroid system, meaning there are two asteroids orbiting a common center. Lucy flew by the asteroid system at a speed of 10,000 miles per hour, NASA said.

Persons: —, Lucy, Dinkinesh, Hal Levison, we've, Tom Kennedy Organizations: NASA, Service, Southwest Research Institute, Lockheed Martin Locations: Colorado

☆ How to make an ultra-low-risk 5% return buying bonds
▼ + stars: | 2023-10-27 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Returns from the Treasury market are growing more attractive with yields hovering near 5%, the highest since 2007. When the government has more trouble finding buyers for new Treasurys, yields will rise to attract interest. For instance, holders can't sell their bonds directly from a TreasuryDirect account. For greater access to the Treasury market, investors can turn to brokerages and some commercial banks, which act as the primary intermediaries of US debt. By using a broker to buy bonds in the secondary market, investors can also add Treasury assets into tax-free accounts, such as a Roth IRA.

Persons: —, Matthew Liebman, Roth Organizations: Treasury, Service, Federal Reserve, Investing.com, Amplius Wealth Advisors, Bloomberg Locations: Brokerages, TreasuryDirect

☆ Bitcoin is surging again
▼ + stars: | 2023-10-24 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

BlackRock applied in June to register a bitcoin spot ETF, which is pending approval. A BlackRock bitcoin ETF would give the cryptocurrency a new sense of legitimacy. “However, it may appear as part of BlackRock’s preparations to launch the ETF soon.”Other companies have also applied for approval to launch similar bitcoin ETFs, including Greyscale Investments. As investors look to diversify their portfolios in uncertain times, some turn to bitcoin, ironically as a kind of digital safe haven. Sometimes dubbed “digital gold,” bitcoin has become a way for investors to branch out beyond traditional stocks and bonds.

Persons: New York CNN —, bitcoin, ”, Samer Organizations: New, New York CNN, BlackRock, Depository Trust, Clearing Corp, Nasdaq, Reuters, Greyscale Investments, US Securities and Exchange Commission, Greyscale’s, DC, of Appeals, SEC, “ Locations: New York, BlackRock, bitcoin

☆ Javier Milei wants Argentina to swap the peso for the US dollar. Here's what that would mean
▼ + stars: | 2023-10-23 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

For years, Argentinians have preferred to pay for many goods and services in greenbacks, rather than with their own collapsing currency, as part of an informal “blue dollar” currency market. To dollarize its economy, Argentina would need to exchange all pesos held by its people and businesses for US dollars, and assign a dollar value to all of its assets and contracts. The Fed would continue to set the cost of borrowing based on the needs of the US economy, not Argentina’s. Practical headacheThere’s another significant snag in Milei’s plan: Argentina doesn’t have enough dollars to ditch the peso. “People would need to take wheelbarrows of cash to convert to dollars,” Sabatini said.

Persons: Javier Milei, Sergio Massa, Argentina’s, JP Morgan, Argentinians, Milei, Natacha, Matias Baglietto, Reuters “ That’s, ” Christopher Sabatini, Kimberley Sperrfechter, ” Sperrfechter, It’s, ” Sabatini, Luis Robayo, Sabatini, ” Organizations: London CNN, National Institute of Statistics, Argentina’s, US Federal Reserve, Economic, Reuters, America, Chatham House, CNN, Capital Economics, International Monetary Fund, Getty, IMF Locations: Argentina, greenbacks, Washington, El Salvador, Panama, Ecuador, United States, Buenos Aires, AFP

☆ Goldman Sachs sees housing starts next year slumping to their lowest level since the early 1990s
▼ + stars: | 2023-10-23 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Slumping demand and surging mortgage rates are likely to lead to the slowest period for housing sales in 30 years, according to Goldman Sachs. Lurking over all the housing market, though, has been the surge in mortgage rates that have come along with the Federal Reserve's efforts to bring down inflation . Mortgage rates have risen in tandem, rocketing from around 3.8% when the Fed started tightening to more than 7.6% nationally now, according to Freddie Mac data. "We expect this 'lock-in' effect to push existing home sales even lower in the coming months and to limit any rebound next year," Walker wrote. After a robust period in the third quarter, Goldman and most of Wall Street expects GDP growth to slow considerably.

Persons: Goldman Sachs, Goldman, Ronnie Walker, Freddie Mac, Walker Organizations: Federal, Fed Locations: U.S

☆ Americans now need to earn a record $115,000 to afford a typical home - up more than 50% since the pandemic
▼ + stars: | 2023-10-17 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Most US households are $40,000 shy of the needed income, with first-time buyers impacted the hardest. Surging costs and skyrocketing mortgage rates mean that Americans need to make $114,627 a year to purchase a typical property, the highest income level on record. This comes as mortgage rates were swung upwards by a tighter Federal Reserve, which sharply increased interest rates to combat inflation. "In a homebuyer's ideal world, rising mortgage rates would push demand and home prices down enough to make up for high interest payments. Average American households do not earn enough to meet these rising costs, and are about $40,000 shy of the needed income level, when looking at last year's data.

Persons: Redfin, —, that's, Chen Zhao, Zhao, Goldman Sachs Organizations: Service, Reserve

Describing that anticipated outcome while keeping open the possibility of future rate increases will be one challenge Powell faces. Another will be discounting speculation about the prospect of rate cuts or changes to other aspects of Fed policy, such as the ongoing reduction of the central bank's balance sheet. The yield on the 10-year Treasury note is just about six-tenths of a percentage point below the Fed's policy rate; when the gap between the two shifts from negative to positive is when monetary policy gets perhaps its truest test. Recent data on balance don't fully back the Fed's view of a gently slowing economy and steadily easing inflation. "Assuming the economy keeps growing ... the Fed will get back to hiking," Blitz said.

Persons: Jerome Powell, Powell, Larry Meyer, Meyer, Krishna Guha, Powell's, Christopher Waller, Waller, Steven Blitz, Howard Schneider, Dan Burns, Paul Simao Organizations: Federal Reserve, Fed, U.S ., Economic, of New, Reuters Graphics Reuters, Evercore ISI, Hamas, U.S . House, Graphics, TS Lombard, Thomson Locations: U.S . Congress, of New York, Israel, Palestinian, Washington, U.S

☆ Bagnaia wins Indonesia GP as Martin throws away championship lead
▼ + stars: | 2023-10-15 | by ( ) www.reuters.com time to read: +3 min

[1/5] Ducati Lenovo's Francesco Bagnaia celebrates after winning the MotoGP race at the Mandalika International Street Circuit in Kuta, Lombok, Indonesia, October 15, 2023. Antara Foto/Wahyu Putro A via REUTERS Acquire Licensing RightsMANDALIKA, Indonesia, Oct 15 (Reuters) - Ducati's Francesco Bagnaia battled heroically from 13th on the grid to win a thrilling Indonesia Grand Prix in Mandalika on Sunday, as he reclaimed the lead in the riders' championship after Jorge Martin crashed out. Bagnaia crossed the line 0.306 seconds ahead of Aprilia's Maverick Vinales in second, while Yamaha's Fabio Quartararo, the 2021 world champion, finished third. Champion Bagnaia is back on top of the riders' standings with 346 points, with Martin (328) in second and VR46 Racing's Marco Bezzecchi (283) in third. After Martin crashed, Vinales was briefly in the lead but Bagnaia kept up his aggressive riding, slowly and steadily gaining ground on the Aprilia rider before blowing past him in the 20th lap.

Persons: Ducati, Francesco Bagnaia, Antara, Jorge Martin, Bagnaia, Aprilia's, Vinales, Yamaha's Fabio Quartararo, Martin, Marco Bezzecchi, Pramac Racing's Martin, Pramac, Johann Zarco, Pecco, it's, Quartararo, Gresini's Fabio Di Giannantonio, Red Bull, Brad Binder, Jack Miller, Luca Marini, Binder, Marc Marquez, Aadi Nair, Muralikumar Organizations: MotoGP, Circuit, REUTERS Acquire, Aprilia, Red, Red Bull KTM, Gresini Racing, Thomson Locations: Kuta, Lombok, Indonesia, Mandalika, Bengaluru

☆ Crypto token ether could rise five-fold by end-2026, StanChart says
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

Representation of Ethereum, with its native cryptocurrency ether, is seen in this illustration taken November 29, 2021. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Oct 11 (Reuters) - Ether, the second-largest cryptocurrency, may rise more than five-fold in value by the end of 2026, according to global bank Standard Chartered (STAN.L), its latest prediction of rocketing crypto prices. The price of crypto tokens are generally driven by the sentiment of investors. Ether has gained some 30% this year, though remains almost 70% below its all-time high of about $4,869, hit in Nov. 2021. StanChart said in July that top crypto token bitcoin could reach $50,000 this year and $120,000 by the end of 2024.

Persons: Dado Ruvic, Geoff Kendrick, Kendrick, StanChart, Bitcoin, Tom Wilson, Elizabeth Howcroft, Louise Heavens Organizations: REUTERS, Chartered, StanChart, FX Research, Reuters, Thomson Locations: West

☆ Ether to soar to $8,000 in 3 years and eventually may hit $35,000, predicts Standard Chartered
▼ + stars: | 2023-10-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

A report out Wednesday argues that the price of the ethereum cryptocurrency may eventually climb as high as $35,000. "Layer 2 scaling solutions … are likely to grow in importance over time, particularly as architecture upgrades expected in early 2024 sharply lower fees on these platforms. ETH.CM= 1Y mountain Ether (ETH) over the past year That valuation assumes future use cases and revenue streams that may not exist yet, Kendrick noted. He highlighted gaming and tokenization of real-world assets as the next big use cases for the network. Standard Chartered expects "significant developments on these fronts by 2025-26," Kendrick said.

Persons: ethereum, Geoff Kendrick, Kendrick, — CNBC's Michael Bloom Organizations: Chartered, ETH Locations: Solana, Cardano, London

☆ Take Five: Volatile start to busy week
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +6 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 9 (Reuters) - Financial markets have got off to a volatile start to the week, after Hamas militants launched an assault on Israel at the weekend, triggering violent conflict that left hundreds dead. A bond market rout last week and currency gyrations already had financial markets on edge ahead of U.S. inflation numbers and the start of earnings season. Here's your week ahead in markets from Kevin Buckland in Tokyo, Lewis Krauskopf in New York, Rachel Savage in Johannesburg, and Naomi Rovnick and Dhara Ranasinghe in London. Amid these tensions, the IMF and World Bank are trying to boost their lending.

Persons: Brendan McDermid, gyrations, Kevin Buckland, Lewis Krauskopf, Rachel Savage, Naomi Rovnick, Wells, LSEG IBES, Rishi Sunak's, Sumanta Sen, Pasit, Vineet, Karin Strohecker, Kim Coghill Organizations: New York Stock Exchange, REUTERS, Financial, World Bank, International Monetary Fund, Labour, JPMorgan, Citigroup, PepsiCo, Delta Air Lines, UnitedHealth, Reuters, LABOUR, Conservative, Labour Party, MOROCCO Finance, Monetary Fund, U.S, Bretton Woods, IMF, Thomson Locations: New York City, U.S, Israel, Tokyo, New York, Johannesburg, London, Central, Morrocan, Marrakech, China

[1/2] A view shows the entrance of the venue for the upcoming meetings of the International Monetary Fund and the World Bank, following last month's deadly earthquake, in Marrakech, Morocco October 1, 2023. Reuters GraphicsThe yield on the 30-year U.S. Treasury bond this week pierced 5% for the first time since 2007. Long-term U.S. yields have climbed roughly 1 percentage point in the past three months compared with a single quarter-percentage-point Fed rate hike during that period. Keeping the world's largest economy out of recession provides steadier demand for other countries' exports, as well as more certainty as Fed rate hikes hit a stopping point. The fallout depends on "how much further, and how quickly, bond yields rise," they said.

Persons: Abdelhak, China's, Goldman Sachs, Gene Tannuzzo, Tannuzzo, Karen Dynan, it's, Howard Schneider, Dan Burns, Paul Simao Organizations: International Monetary Fund, World Bank, REUTERS, Rights, U.S ., Treasuries, Reuters, Treasury, Federal Reserve, Columbia Threadneedle, Harvard University, Peterson Institute for International Economics, Capital Economics, Valley Bank, Thomson Locations: Marrakech, Morocco, U.S, Washington, California

☆ China’s economy will be hobbled for years by the real estate crisis
▼ + stars: | 2023-10-06 | by ( Laura He | ) edition.cnn.com time to read: +10 min

Absorbing this “excess capacity” in the property sector will inevitably hurt China’s economic growth, according to Garcia-Herrero. The money from the sales funded their breakneck expansion, making real estate moguls some of the country’s richest people. The strategy largely worked until about three years ago when the Chinese government cracked down on excessive borrowing by the real estate industry because it was worried about the risk of financial instability. But overall, the property sector has contracted severely as it adjusts to a collapse in demand. “A fundamental rewiring of China’s economy will necessitate a focus on developing new industries, improving productivity, and bolstering rental markets,” said analysts from Stanford University and the ASPI.

Persons: ”, Alicia Garcia, Herrero, Garcia, they’re, Evergrande, Xu Jiayin, Xi Jinping, ” Mark Williams, Sheana Yue, Zichuan Huang, “, — Michelle Toh Organizations: Hong Kong CNN, Investment, Asia Pacific, Getty, Bank, International Monetary Fund, IMF, Regulators, Capital Economics, People’s Bank of China, Oxford Economics, Stanford University, Asia Society Policy Institute, Oxford Locations: China, Hong Kong, Beijing, Natixis, Wuhan, China's, Hubei, Japan

People walk past the main entrance of the Sri Lanka's Central Bank in Colombo, Sri Lanka March 24, 2017. The Central Bank of Sri Lanka (CBSL) lowered the standing deposit facility rate and the standing lending facility rate by 100 basis points each to 10% and 11%, respectively, it said in a statement. Sri Lanka, however, failed to reach an agreement with the IMF in its first review of the bailout package last month, due to a potential shortfall in government revenue. Even with policy loosening Sri Lanka could find it difficult to post (a 2% contraction) this year," said Udeeshan Jonas, chief strategist at equity research firm CAL Group. The central bank reiterated that it would like to see market interest rates come down further.

Persons: Dinuka, CBSL, Udeeshan Jonas, Thilina Panduwawala, Uditha Jayasinghe, Swati Bhat, Sam Holmes, Sudipto Ganguly Organizations: Sri, Central Bank, REUTERS, Rights, International Monetary Fund, Central Bank of Sri, IMF, CAL, Frontier Research, Bank Locations: Colombo, Sri Lanka, Lanka's, Central Bank of Sri Lanka, Sri, Lanka

WASHINGTON (AP) — The U.S. government appears poised to order a recall of millions of air bag inflators due to a manufacturing flaw that could send metal shrapnel rocketing through a car's interior. Instead of releasing pressurized gas to inflate the air bag, the canister essentially explodes, sending metal shrapnel into the vehicle at head height. He said the government would be setting a dangerous precedent by targeting a parts supplier rather than a vehicle manufacturer in ordering a recall. The hearing also featured emotional testimony from Jacob Tarvis, whose mother, Marlene Beaudoin, died as a result of an exploding air bag inflator in 2021. “GM will continue to work collaboratively with NHTSA, other manufacturers, and ARC to monitor and investigate the long-term performance and safety of ARC airbag inflators," the statement said.

Persons: inflators, ” Bruce York, Sharon Yukevich, ”, Steve Gold, Gold, Jacob Tarvis, Marlene Beaudoin, Beaudoin, Tarvis, “, Tom Krisher Organizations: WASHINGTON, Traffic Safety Administration, ARC Automotive Inc, ARC, NHTSA's, NHTSA, Motors, GM Locations: U.S, Knoxville , Tennessee, United States, Canada, Detroit

☆ 'Swift effect' prompts viewership spike for Chiefs-Jets game
▼ + stars: | 2023-10-02 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

[1/2] Sep 24, 2023; Kansas City, Missouri, USA; Taylor Swift reacts while watching the Kansas City Chiefs vs Chicago Bears game during the first half at GEHA Field at Arrowhead Stadium. A rumored relationship between Swift and Chiefs tight end Travis Kelce has sent interest sky-rocketing in Super Bowl champion Kansas City. In another sign of "the Swift Effect," sales of Kelce's jersey surged after Swift's appearance at his Week 3 home game. The broadcast featured ads for the forthcoming concert film "Taylor Swift: The Eras Tour" and on several occasions cut to Swift, who cheered on the Kansas City team enthusiastically, while commentators made references to her song lyrics. Swift had also appeared at the Chiefs' Week 3 game at home at which the champions pummeled the Chicago Bears 41-10.

Persons: Taylor Swift, Denny, Swift, Travis Kelce, reveled, Amy Tennery, Dawn Chmielewski Organizations: Kansas City Chiefs, Chicago Bears, Arrowhead, New York Jets, Sunday, NBC Sports, Chiefs, Super Bowl, Kansas City, MetLife, Sunday Night, NBC, NFL, pummeled, Minnesota Vikings, Thomson Locations: Kansas City , Missouri, USA, East Rutherford , New Jersey, New York

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