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☆ Global hedge funds shine in June, driven by AI -HFR
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, July 10 (Reuters) - Global hedge funds posted gains of 2.2% in June, as artificial intelligence-related stocks surged and the banking crisis eased, data provider HFR said on Monday. In the first half of the year, hedge funds added 3.45% to their investors. "Hedge funds surged in June, led by growth equity exposures and, specifically, artificial intelligence. Macro hedge funds ended June down 0.47% in the year, as they were able to erase some losses earlier in the year last month, up 1.47%. Hedge funds that bet on economic trends had a challenging beginning of the year as they were hard hit by the banking crisis in March.

Persons: HFR, Kenneth J, Heinz, Carolina Mandl, Chris Reese, Stephen Coates Organizations: YORK, Global, HFR, Equity, Carolina, Thomson Locations: New York

☆ Yellen's China trip yields long meetings, 'cordial' tone, but no consensus
▼ + stars: | 2023-07-10 | by ( David Lawder | ) www.reuters.com time to read: +5 min

"The accomplishment of the meeting was the meeting itself, not specific issues," said Scott Kennedy, a China economics expert at the Center for Strategic and International Studies in Washington. A senior U.S. Treasury official accompanying Yellen on her first trip to China as secretary described it as "respectful, frank and constructive," adding: "She was warmly received." Her meeting on Saturday with He, China's new economic czar, was scheduled for two hours but lasted five, followed by a "cordial" dinner, the official said. In the meantime, Yellen said the talks set the stage for more frequent U.S.-China communications at the staff level about economic issues, including areas of disagreement. A possible venue for this would be the Asia-Pacific Economic Cooperation summit in San Francisco in November.

Persons: Janet Yellen, Yellen, Lifeng, Scott Kennedy, Premier Li Qiang, Pan Gongsheng, Joe Biden's, Jake Colvin, Hong Hao, Hong, Colvin, Biden, John Kerry, Gina Raimondo, Xi Jinping, Wang Yiwei, David Lawder, Andrea Shalal, Ryan Woo, Ellen Zhang, Qiaoyi Li, Stephen Coates Organizations: . Treasury, U.S, Center for Strategic, International Studies, Global Times, Treasury, Premier, People's Bank of China, National Foreign Trade Council, Grow Investment, . Commerce, Renmin University, Economic Cooperation, Thomson Locations: Beijing, China, Washington, China's, U.S, United States, Hong Kong, Asia, San Francisco, Anchorage , Alaska

While NATO members agree Kyiv cannot join during the war, they have disagreed over how quickly it could happen afterwards and under what conditions. Negotiations have also focused on what conditions Ukraine would have to meet to join NATO and how its progress should be tracked, diplomats say. "I am absolutely certain that we will have unity and a strong message on Ukraine," Stoltenberg told reporters. Russia's invasion of Ukraine in February last year prompted Nordic neighbours Finland and Sweden to abandon decades of military non-alignment and apply to join NATO. Sweden, backed by Stoltenberg and many NATO members, said it had kept all its undertakings to Turkey on the issue.

Persons: Volodymyr Zelenskiy, Zelenskiy, General Stoltenberg, Stoltenberg, Maria Zakharova, Tayyip Erdogan, Ulf Kristersson, Erdogan, Kristersson, Ronald Popeski, Lidia Kelly, Stephen Coates Organizations: NATO, Diplomats, Alliance, Twitter, Russian Foreign, Nordic, Kurdistan Workers Party, EU, European Union, Thomson Locations: VILNIUS, Vilnius, Sweden, Lithuanian, Ukraine, Moscow, Eastern Europe, Russia, United States, Germany, NATO, Finland, Turkey, Ankara, Swedish

☆ Asia shares edge higher, China disinflation a drag
▼ + stars: | 2023-07-10 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

Chinese consumer price figures surprised on the soft side with inflation falling in June and essentially unchanged from a year before. The gains in China helped MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) firm 0.6%. Japan's Nikkei (.N225) eased 0.7% in the wake of a higher yen, while South Korea (.KS11) added 0.2%. Fed officials have been mostly hawkish in their communications, while markets have also priced in higher rates in Europe and the UK. Canada's central bank meets this week and markets imply a 67% chance of another hike.

Persons: Bonds, Yen, Goldman Sachs, Brent, Wayne Cole, Stephen Coates Organizations: Nikkei, SYDNEY, Alibaba, HK, Japan's Nikkei, South, Nasdaq, JPMorgan Chase, Citigroup, PepsiCo, Federal Reserve, Fed, Thomson Locations: U.S, China, Beijing, reflating, Hong, Asia, Pacific, Japan, South Korea, Wells Fargo, Europe, Saudi Arabia, Russia

☆ Zelenskiy says he understands Ukraine will be in NATO
▼ + stars: | 2023-07-10 | by ( Oleksandr Kozhukhar | ) www.reuters.com time to read: +2 min

KYIV, July 10 (Reuters) - President Volodymyr Zelenskiy said on the eve of the NATO summit that Ukraine will be part of the alliance and expects from the meeting an "algorithm" for Kyiv to officially join it. "We are still working on the wording, that is, on the specific words of such confirmation, but we already understand the fact that Ukraine will be in the alliance," Zelenskiy said late on Monday in his nightly video address. Zelenskiy said the Vilnius summit must confirm Ukraine is already 'de facto' a member of NATO as it has its weapons and shares values with the alliance. "Even if different positions are voiced, it is still clear that Ukraine deserves to be in the alliance," Zelenskiy said. "Not now - there is a war, but we need a clear signal.

Persons: Volodymyr Zelenskiy, Zelenskiy, Joe Biden, Oleksander Kozhukhar, Ron Popeski, Lidia Kelly, Mark Porter, Stephen Coates Organizations: NATO, Kyiv, U.S, Reuters, Thomson Locations: Ukraine, Kyiv, Vilnius, Lithuania, Canada, Japan, Lincoln

SINGAPORE, July 10 (Reuters) - Oil prices dipped in Asian trade on Monday as investors tread cautiously ahead of fresh economic data from top consumers the United States and China this week, though expected crude supply cuts from Saudi Arabia and Russia limited losses. "Oil traders may be cautious ahead of the U.S. CPI and China's slew of economic data later this week," CMC Markets analyst Tina Teng said. However, crude prices could rebound after OPEC+ announced plans to further reduce supply, she said. "The presence of economic slowdowns in China adds to the prevailing uncertainty in the oil market," said Mukesh Sahdev, head of downstream and oil trading at Rystad Energy. U.S. oil rigs fell by five to 540 last week, lowest since April 2022, according to a Baker Hughes report on Friday.

Persons: Tina Teng, China's, Mukesh Sahdev, Morgan, Tony Sycamore, Baker Hughes, Florence Tan, Emily Chow, Tom Hogue, Stephen Coates Organizations: Brent, U.S . West Texas, U.S . CPI, CMC, Rystad Energy, OPEC, Federal Reserve, U.S . Commodity Futures Trading Commission, Thomson Locations: SINGAPORE, United States, China, Saudi Arabia, Russia, U.S, Saudi, Ain Sukhna, OPEC

BEIJING, July 10 (Reuters) - China on Monday called on the U.S. to take "practical action" in response to its "major concerns" about sanctions on Chinese firms, after U.S. Treasury Secretary Janet Yellen wrapped up more than 10 hours of meetings with senior officials in Beijing. Yellen came to Beijing seeking to ease tensions between the world's two superpowers, and while there was no breakthrough, both sides described their talks as "productive" and agreed to keep channels open "at all levels" for talks on the economy. The United States has imposed sanctions on some companies for using forced labour in the far-western region of Xinjiang. The ministry also said China believed its development was an opportunity rather than a risk to the U.S. and that "strengthening cooperation between China and the United States is a realistic need and the correct choice of the two countries." Reporting by Joe Cash and Ellen Zhang; Editing by Muralikumar Anantharaman and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen, Yellen, Joe Biden, Xi Jinping, Bruce Pang, Jones Lang LaSalle, Joe Cash, Ellen Zhang, Muralikumar Anantharaman, Stephen Coates Organizations: U.S, Treasury, Economic Cooperation, United, Jones, Thomson Locations: BEIJING, China, Beijing, Asia, San Francisco, Xinjiang, United States, Hong Kong

NEW YORK, July 10 (Reuters) - The leader of a U.S. think tank has been charged with acting as an unregistered agent of China, as well as seeking to broker the sale of weapons and Iranian oil, federal prosecutors in Manhattan said on Monday. Luft is accused of pushing the adviser to support policies favorable to China, including by drafting comments in the adviser's name published in a Chinese newspaper. Luft is co-director of the Institute for the Analysis of Global Security, which describes itself as a Washington, D.C.-based think tank focused on energy, security and economic trends. The think tank did not immediately respond to a request for comment. Reporting by Luc Cohen in New York; Editing by Stephen Coates and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Gal Luft, Donald Trump, Luft, I've, Prosecutors, Luc Cohen, Stephen Coates, Bill Berkrot Organizations: YORK, Prosecutors, U.S, Reuters, Institute, Global Security, D.C, United Arab, Thomson Locations: U.S, China, Manhattan, United States, Israel, Cyprus, Washington, Libya, United Arab Emirates, Kenya, New York

☆ US Marine Corps in historic leadership limbo due to Republican block
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +3 min

WASHINGTON, July 10 (Reuters) - The Marine Corps is now without a Senate-confirmed leader for the first time in over a century thanks to a Republican senator's block on military nominations. Retiring Gen. David Berger formally relinquished command on Monday as the Marine Corps' commandant, creating the first of several possible vacancies of Senate confirmed leaders on the U.S. military's Joint Chiefs of Staff in the coming months. Pentagon spokesperson Sabrina Singh said last time the Marine Corps had an acting Commandant was from December 1, 1910 to February 2, 1911. Berger's retirement leaves General Eric Smith, the Marine Corps' No. He is President Joe Biden's nominee to become the next commandant but is expected to avoid major decisions without Senate confirmation.

Persons: David Berger, Tommy Tuberville, Lloyd Austin, Austin, Sabrina Singh, Singh, Roe, Wade, Charles " C.Q, Brown, Eric Smith, Joe Biden's, Phil Stewart, Patricia Zengerle, Stephen Coates Organizations: Corps, Republican, Marine Corps, military's, Chiefs, Staff, Pentagon, . Defense, Department, U.S, Supreme, Democratic, Army, Navy, Joint Chiefs, Air Force, Senate Armed Services Committee, Thomson Locations: Alabama, United States

☆ Israel's Knesset gives initial nod to contested Supreme Court bill
▼ + stars: | 2023-07-10 | by ( Maayan Lubell | ) www.reuters.com time to read: +3 min

JERUSALEM, July 10 (Reuters) - Israel's parliament gave preliminary approval to a bill that limits some Supreme Court power, part of a rebooted judicial overhaul by Prime Minister Benjamin Netanyahu that has set off a deep political crisis. The new bill seeks a curb on the Supreme Court's power to void decisions made by the government, ministers and elected officials by ruling them unreasonable. "It is not the end of democracy, it strengthens democracy," Netanyahu said in a video statement released at sundown as the Knesset debated the bill. Israeli Prime Minister Benjamin Netanyahu speaks during a meeting at the Knesset, Israel's parliament, in Jerusalem, May 23, 2023. REUTERS/Ronen Zvulun/File Photo"Even after the amendment court independence and civil rights in Israel will not be harmed in any way.

Persons: Benjamin Netanyahu, Netanyahu, Ronen, Amir Yaron, Yaron, Isaac Herzog, Herzog, Steven Scheer, Maayan Lubell, William Maclean, Stephen Coates Organizations: REUTERS, Bank of Israel, Thomson Locations: Jerusalem, Israel, Bank

☆ Eubanks soaks in 'whirlwind' run through Wimbledon
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

[1/2] Jul 10, 2023; London, United Kingdom; Christopher Eubanks (USA) returns a shot against Stefanos Tsitsipas (GRE) on day eight at the All England Lawn Tennis and Croquet Club. The American made it into the quarter-finals of a Grand Slam for the first time in his first Wimbledon main draw, along the way encountering surreal reminders of his skyrocketting success. Now, he is preparing for a showdown with Russian third seed Daniil Medvedev, who days earlier praised Eubanks for his "total tennis" and fearless style of play. That crowd support could come in handy against mighty Medvedev, against whom he lost in straight sets earlier this year in Miami. "Granted, different court, different surface, different conditions.

Persons: Christopher Eubanks, Stefanos Tsitsipas, Susan Mullane, Chris Eubanks, Stefanos, Eubanks, I'm, Daniil Medvedev, I've, Tsitsipas, Medvedev, That's, Amy Tennery, Stephen Coates Organizations: Lawn Tennis, Croquet Club, LONDON, Wimbledon, ESPN, Tennis Channel, Thomson Locations: London, United Kingdom, Greek, Russian, Miami, New York

☆ One killed as heavy rain triggers landslides in Japan
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +1 min

TOKYO, July 10 (Reuters) - Torrential rain triggered landslides that killed at least one person and prompted authorities to order tens of thousands of people to leave their homes on Japan's southwestern island of Kyushu on Monday. One woman in her 70s was killed when a landslide hit her house in Fukuoka prefecture, public broadcaster NHK said. Another three people were missing after a landslide hit two homes in Saga prefecture, NHK said. The highest-level warning for heavy rain was issued in parts of Fukuoka and Oita prefectures. "The rain is becoming so heavy unlike anything seen before," the official said.

Persons: Satoshi Sugimoto, Daniel Leussink, Satoshi Sugiyama, Stephen Coates Organizations: NHK, Japan Meteorological Agency, Thomson Locations: TOKYO, Kyushu, Fukuoka prefecture, Saga, Fukuoka, Oita, Hiroshima, Hakata

☆ Supreme Court's affirmative action decision sets 'race-neutral' standard in college admission decisions
▼ + stars: | 2023-07-01 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +8 min

CNN —When the Supreme Court cut affirmative action out of college admissions programs Thursday, it did not outlaw the goal of achieving diversity, but it set a new “race-neutral” standard for considering applicants. Justice Clarence Thomas, who wrote his own concurring opinion, uses the term “race neutral” repeatedly, offering it as an antidote to affirmative action. For more on this view, read this piece in The Atlantic by scholars Uma Jayakumar and Ibram Kendi: “‘Race Neutral’ Is the New ‘Separate but Equal.’”What have race-neutral admissions policies accomplished? They can, presumably, still utilize affirmative action even though they are the higher learning institutions over which the federal government has the most control. Multiple corporations – from Apple to IKEA – asked the Supreme Court to allow affirmative action to continue so that their potential workforce is more diverse.

Persons: John Roberts, Roberts, they’ve, Clarence Thomas, Thomas, Sonia Sotomayor, ”, Uma Jayakumar, Laura Coates, CNN’s Nicquel Terry Ellis, Zack Mabel, Terry Ellis, CNN’s Leah Asmelash, Ronald Brownstein Organizations: CNN, Public, Institute of California, University of California’s, UC, UC enrollees, UC Berkeley, Harvard University, Georgetown University Center, Education, Workforce, Georgetown’s Center for Education, IKEA –, Republican Locations: California, Michigan, Thomas, California In California, enrollees, UC enrollees, American, America, Apple

☆ Stocks firmer after dip in euro zone inflation, dollar firm
▼ + stars: | 2023-06-30 | by ( Huw Jones | ) www.reuters.com time to read: +4 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 29, 2023. REUTERS/StaffLONDON, June 30 (Reuters) - Global shares stocks were firmer on Friday after data showed that inflation in the euro zone continued to fall this month, and attention turned to U.S. prices figures before the opening bell on Wall Streeet. The dollar and U.S. stock index futures , were firm ahead of the U.S. Personal Consumption Expenditures (PCE) index reading due at 1230 GMT, the Fed's favoured inflation gauge. Euro zone inflation fell to 5.5% in June as the cost of fuel tumbled, with Germany the only country to report an increase, with the European Central Bank still on course for a ninth consecutive rate hike next month, sending euro zone government bond yields higher.

Persons: Jerome Powell, Patrick Spencer, Baird, Spencer, Shunichi Suzuki, Rob Carnell, Hong, Brent, Gold, Huw Jones, Ankur Banerjee, Stephen Coates, Kim Coghill, Chizu Organizations: REUTERS, Staff LONDON, Global, U.S, Federal, European Central Bank, ECB, ING, Big Tech, Finance, Nikkei, Strong U.S, Thomson Locations: Frankfurt, Germany, U.S, Europe, CHINA, Asia, China, Pacific, Japan, Shanghai, Strong

☆ Asia shares steady as weak China data fuel stimulus hopes, yen frail
▼ + stars: | 2023-06-30 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Futures indicated European stocks were set for a higher open, with Eurostoxx 50 futures up 0.18%, German DAX futures up 0.24% and FTSE futures 0.28% higher. But before that euro zone June inflation data will likely provide cues to the broader picture in the region, after data on Thursday showed German inflation rose more than expected in June. The strong economic data sent Treasury yields higher, with the yield on 10-year Treasury notes touching a three-month high of 3.868% on Thursday. China's blue-chip CSI300 Index (.CSI300) and the Shanghai Composite Index (.SSEC) rose nearly 1%, while Hong Kong's Hang Seng Index (.HSI) was up 0.24% on stimulus hopes. U.S. crude was flat at $69.87 per barrel and Brent was at $74.49, up 0.2% on the day.

Persons: Shunichi Suzuki, DAX, Rob Carnell, Jerome Powell, Hong, Brent, Ankur Banerjee, Stephen Coates, Kim Coghill Organizations: Federal Reserve, Finance, Investors, U.S, Reuters, Union, Bank of Japan, Thomson Locations: SINGAPORE, China, Asia, Pacific, Japan, Spain, Italy, U.S, Shanghai

NEW YORK/LONDON, June 30 (Reuters) - Global mergers and acquisitions (M&A) activity fell 36% year-on-year in the second quarter, but investment bankers and lawyers expressed optimism that the stock market's recovery will gradually restore chief executives' dealmaking confidence. "Global uncertainty is what is impacting M&A most - it just makes people uncomfortable. It's easier to say, I'll pass on a deal - nobody gets fired for passing on a deal. M&A volumes in the United States declined by 30% to $318.4 billion, while Europe and Asia Pacific volumes shrank 49% and 24% respectively. Not a single so-called mega-deal, which typically refers to transactions worth over $25 billion, was signed during the quarter.

Persons: Michael Aiello, Weil, Raymond McGuire, Steve Baronoff, Bunge, John Collins, Morgan Stanley, there’ll, Ethan Klingsberg, Deringer, Manolo Falco, Scott Miller, Sullivan, Cromwell, Howard Ellin, Flom, Dwayne Lysaght, Eric Schiele, Kirkland, Ellis, Anirban Sen, Andres Gonzalez, Stephen Coates Organizations: Manges LLP, Lazard Ltd, Bank of America, Reuters Graphics Reuters, Magellan Midstream Partners, Viterra Ltd, Carrier Global, Investment, Citigroup Inc, JPMorgan Chase, Antitrust, U.S . Federal Trade Commission, Horizon Therapeutics, Thomson Locations: United, Europe, Asia, Skadden, Slate, New York, London

☆ Asia shares edge lower on rate hike worries, yen frail
▼ + stars: | 2023-06-30 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

China's blue-chip CSI300 Index (.CSI300) fell 0.14% and the Shanghai Composite Index (.SSEC) eased 0.11%. The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to continued labour market strength. The data "will have traders likely consider a greater likelihood of further interest rate hikes from the Fed." "We expect the moderate pace of interest rate decisions to continue." The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was at 4.872%, having touched more than a three-month high of 4.892% overnight.

Persons: Australia's, HSI, Economists, Ryan Brandham, Jerome Powell, Powell, Rob Carnell, YEN, Shunichi Suzuki, Brent, Ankur Banerjee, Stephen Coates Organizations: Federal Reserve, Japan's Nikkei, Gross, Commerce Department, Validus Risk, Federal, Treasury, U.S, Central Bank's, Bank of Japan, Japanese Finance, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, China, Shanghai, North America, U.S, Spanish, Madrid

While there has been some scrambling to amend contracts linked to Libor over the past month, the transition was well telegraphed and no major issues are expected, loan and derivatives market participants and lawyers said in interviews. "I feel like it has been two to three years now that we have been re-papering all the legacy loans and legacy securities we purchased tied to Libor," said Scott DiMaggio, co-head of fixed income, at Alliance Bernstein. Friday at 11:55 a.m. British Summer Time (1055 GMT) marked the last publication for the 1-month, 3-month and 6-month U.S.-dollar Libor interest rates. Other U.S. dollar tenors were largely phased out for new contracts at the end of 2021 along with Libor rates linked to other currencies. Derivatives markets based on Libor had already mostly moved to new benchmarks without major disruption, while some corners of the loan markets, such as syndicated loans, have been busy with contract amendments, market participants said.

Persons: Scott DiMaggio, Alliance Bernstein, Shah, Federal Reserve Bank of New York's, Libor, Tal Reback, Gennadiy Goldberg, John McCrank, Gertrude Chavez, Dreyfus, Alden Bentley, Stephen Coates Organizations: YORK, Alliance, Regulators, Federal Reserve Bank of New, U.S, Britain's, Authority, Libor, TD Securities, Thomson Locations: London, Iran, U.S, New York

☆ In parched Uruguay, tensions rise as water levels fall
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

"Water used to cover everything you can see." The South American country of 3.5 million people is reeling from its worst drought in 74 years, pushing frustrated residents to depend on bottled water. Low rainfall has forced water authorities to use water from a saltier part of the Santa Lucia river, which supplies most of Uruguay's drinking water, leaving tap water undrinkable for many. Earlier this month, Uruguay's government declared a water emergency, exempting taxes on bottled water and ordering the construction of a new reservoir. "The issue is real," said musician Frank Lampariello, after stocking up on bottled water at a supermarket in Solymar, on Montevideo's outskirts.

Persons: Alejandro Obaldia CANELONES, Mario del Pino, Adrian Dias, OSE, Federico Kreimerman, Kreimerman, Gerardo Amarilla, Frank Lampariello, Alejandro Obaldia, Brendan O'Boyle, Stephen Coates Organizations: REUTERS, Thomson Locations: Canelones, Uruguay, Montevideo, Santa Lucia, Solymar, Montevideo's

☆ Australia job vacancies fall 2% in May qtr, still historically high
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, June 29 (Reuters) - Job vacancies in Australia fell in the three months to May, the fourth straight quarter of decline, but were still far above pre-pandemic levels as demand for labour remains strong. Figures from the Australian Bureau of Statistics (ABS) out on Thursday showed vacancies in the May quarter fell 2.0%, from the previous quarter, to 431,600. "This May saw businesses continuing to report difficulties in recruiting and retaining staff," said Bjorn Jarvis, ABS head of labour statistics. "This highlights the impact of a tight labour market on a broad range of businesses," said Jarvis. Thursday's data showed vacancies in the private sector fell 2.3% in the May quarter, while the public sector saw a rise of 0.3%.

Persons: Bjorn Jarvis, Jarvis, Wayne Cole, Stephen Coates Organizations: SYDNEY, Australian Bureau of Statistics, Reserve Bank of Australia, Thomson Locations: Australia

The deal has divided lawyers representing cancer victims, many of whom claim that J&J has created the illusion of widespread support for a settlement that would deny plaintiffs just compensation. Johnson & Johnson is attempting to use the second bankruptcy of its subsidiary LTL Management to resolve all current and future claims stemming from its talc products. LTL quickly filed for bankruptcy again, arguing that its second effort has won more support from plaintiffs. The proposed settlement would resolve all of those unfiled claims, as well as any future claim alleging that a J&J talc product caused cancer. Mikal Watts, an attorney who supports the deal and says he has 17,000 talc clients, said that he did not agree with J&J statements about "secured commitments."

Persons: Brendan McDermid, Johnson, Johnson's, LTL's, LTL, U.S . Justice Department's, Moshe Maimon, Mikal Watts, Watts, Jim Murdica, Maimon, Murdica, Michael Kaplan, Kaplan, Dietrich Knauth, Alexia Garamfalvi, Stephen Coates Organizations: REUTERS, Johnson, Management, U.S . Justice, J, Thomson Locations: New York City, U.S, Trenton , New Jersey

“The Harvard and UNC admissions programs cannot be reconciled with the guarantees of the Equal Protection Clause. We have never permitted admissions programs to work in that way, and we will not do so today,” Roberts wrote. During oral arguments, Solicitor General Elizabeth Prelogar stressed the unique interests of the military and argued that race-based admissions programs further the nation’s compelling interest of diversity. Steve Vladeck, CNN Supreme Court analyst and professor at the University of Texas School of Law, said the decision will still not end the legal fight over college admissions. The Supreme Court stepped in to consider the case before it was heard by a federal appeals court.

Persons: John Roberts, “, ” Roberts, Clarence Thomas, ”, ” Thomas, Sonia Sotomayor, Elena Kagan, Ketanji Brown Jackson, ” Sotomayor, Sotomayor, Martin Luther King, Jackson, “ ‘, Roberts, Elizabeth Prelogar, ” Jackson, Kevin McCarthy, Republican Sen, Ted Cruz, Donald Trump, ” Trump, Mike Pence, ” Pence, Chuck Schumer, Laura Coates, Steve Vladeck, ” Vladeck, ” Long, SSFA, Loretta C, Biggs, ” Biggs, SFFA, Cameron T, Norris, Harvard “, Prelogar, Lewis F, Powell Jr Organizations: CNN, Harvard, University of North, UNC, Supreme, GOP, Republican, America, Truth, New York Democrat, University of Texas School of Law, Asian, Fair, Court, Middle, Middle District of, University, US, University of California, Bakke Locations: University of North Carolina, Independence, United States, Lower, Middle District, Middle District of North Carolina

An example is the trade in physical cargoes from the Middle East where Unipec, the trading arm of top Chinese refiner Sinopec, has been selling heavily this month. There are several reasons for this, including the output cuts implemented by OPEC+, which effect more Middle East grades than Brent and related light crudes. Asia is expected to import 29.12 million bpd in June, a third consecutive monthly gain and up from 26.47 million bpd in May, according to Refinitiv. China's imports are estimated at 12.5 million bpd, up slightly from May's 12.16 million, while India is forecast to receive 5.24 million bpd, up from 4.74 million bpd in May. Asia's imports from the United States are expected to reach a record high of 2.58 million bpd in June, up from 1.66 million bpd the prior month.

Persons: Unipec, refiners, BRENT, Brent, Stephen Coates Organizations: Unipec, Refinitiv Oil Research, Saudi Aramco, OPEC, Saudi, Aramco, refiners, Brent, . West Texas, Reuters, Thomson Locations: LAUNCESTON, Australia, Oman, Dubai, Middle East, Africa, Americas, Asia, Saudi, Brent, China, India, United States, Europe, North America

The central bank is worried that the Canadian economy is running too hot for inflation to return to its 2% target and that if it waits to act, inflation expectations could rise, making matters worse. The central bank lifted its benchmark rate to a 22-year high of 4.75% this month and is expected to tighten further in July or September. A hard landing for the economy, or a recession, could raise unemployment, something the BoC has been hoping to avoid. "I'm not going to be betting against interest rates and I'm not going to be betting against policy lags." The data has left analysts pushing back their forecasts of a slowdown to later in 2023 or in 2024 but accompanied by higher than anticipated interest rates.

Persons: Karl Schamotta, David Rosenberg, I'm, Royce Mendes, Fergal Smith, Steve Scherer, Denny Thomas, Stephen Coates Organizations: TORONTO, Bank, Bank of Canada's, BoC, Bank of Canada, Rosenberg Research, Desjardins, Thomson Locations: United States, Data, Toronto, Ottawa

☆ Exclusive: US, Dutch set to hit China's chipmakers with one-two punch
▼ + stars: | 2023-06-29 | by ( Karen Freifeld | ) www.reuters.com time to read: +4 min

ASML said in March it expects the Dutch regulations to affect its TWINSCAN NXT:2000i and more sophisticated models. But the company's older DUV models, like one called the TWINSCAN NXT:1980Di, could also be kept from about six Chinese facilities by the U.S. The new Dutch regulations will not take effect immediately, sources said, with one person expecting the effective date to be September, two months after publication. ASML is Europe's largest chip equipment company due to its dominance in lithography, one of the central steps in the computer chip making process. Other companies that could be impacted by the new Dutch rules include atomic layer deposition firm ASM International.

Persons: Liu Pengyu, ASML, Karen Freifeld, Toby Sterling, Anna Driver, Stephen Coates Organizations: . Commerce Department, Lam Research, Materials, Embassy, Nikon Corp, Tokyo Electron, U.S, SMIC, International, Thomson Locations: United States, Netherlands, U.S, China, Washington, Japan, ASML'S, Almere, Amsterdam

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