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☆ Queen Victoria’s Son Was the Last British Royal to Testify in Court
▼ + stars: | 2023-06-05 | by ( Claire Moses | ) www.nytimes.com time to read: +1 min

Prince Harry’s expected testimony on Tuesday in a phone-hacking case will be the first time in over 130 years that a prominent member of Britain’s royal family is cross-examined in court. The last time it happened was in 1891, and it didn’t go well for the royal family. Prince Albert Edward — Queen Victoria’s eldest son, who went on to become King Edward VII in 1901 — testified as a witness in a slander case that centered on a game of baccarat gone wrong at which the prince had been present. The prince sided with the accusers, and Mr. Gordon-Cumming lost the case. It was unusual then, too, for such a prominent member of the royal family — the future king, no less — to appear in court.

Persons: Prince Harry’s, didn’t, Prince Albert Edward — Queen Victoria’s, King Edward VII, —, baccarat, Sir William Gordon, Cumming, Gordon Organizations: Guardian

☆ Verstappen wins in Spain to continue Red Bull sweep
▼ + stars: | 2023-06-04 | by ( Alan Baldwin | ) www.reuters.com time to read: +4 min

Red Bull's Sergio Perez, Verstappen's closest rival in a season that looks sure to crown the dominant Dutch 25-year-old for a third time, finished fourth after fighting back from 11th at the start. The victory was Verstappen's fifth of the season, third in a row, third in Spain and the double world champion's 40th in Formula One. TALKING POINTThe form of the Mercedes drivers, with a re-designed car after a disappointing start to the season, provided a main talking point. Mercedes moved up to second in the championship on 152 points to runaway Red Bull's 287 and with Aston Martin dropping to third on 134. Ferrari's Charles Leclerc, who started from the pitlane after a nightmare in qualifying left him on the back row, finished 11th.

Persons: Max Verstappen, Albert Gea, Mercedes, Perez, Lewis Hamilton, George Russell, Bull's Sergio Perez, Verstappen, Carlos Sainz, Max, Christian Horner, McLaren's Lando Norris, Aston Martin, Hamilton, Russell, Ferraris, Sainz, Aston Martins, Lance, Fernando Alonso, Alonso, Alpine's Esteban Ocon, Alfa Romeo's, Zhou, Pierre Gasly, Yuki Tsunoda, Ferrari's Charles Leclerc, Alan Baldwin, Angus MacSwan, Pritha Sarkar, Ken Ferris Organizations: Prix, Spanish, Prix REUTERS, Spain Dutch, Mercedes, Barcelona's, Formula One, Hamilton, Aston, Alfa, Renault, Thomson Locations: Catalunya, Barcelona, Spain, Verstappen's, London

☆ A top Wall Street investment strategist breaks down why stocks are setting up for a 22% drop in the second half of the year — and shares 2 signs that show a recession is likely
▼ + stars: | 2023-06-03 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Piper Sandler's Michael Kantrowitz says a recession is hurtling toward the US economy. He pointed to stocks falling in lockstep with rising unemployment claims in 2007, 2000, 1990, 1981, 1973, and 1969. Today, investors are again doing a poor job of forecasting rising unemployment claims in the months ahead, Kantrowitz believes. Underpinning Wilson's call is an earnings recession this year that investors aren't pricing in. "We first started talking about the coming earnings recession a year ago and received very strong pushback, just like today.

Persons: Piper Sandler's Michael Kantrowitz, Kantrowitz, Michael Kantrowitz doesn't, Piper Sandler, it's, Louis, Greg Boutle, Cantor Fitzgerald's Eric Johnston, Venu Krishna, Morgan Stanley's Mike Wilson, Wilson, Albert Edwards Organizations: Energy, Survey, Federal Reserve Bank of St, BNP, Barclays, Conference, Board, National Federal, Independent, of Labor Statistics, Generale's Locations: lockstep

☆ Italy bets on quietest of places to host world-leading telescope
▼ + stars: | 2023-05-30 | by ( Federico Maccioni | ) www.reuters.com time to read: +3 min

The Sos Enathos lead and zinc mine, extending 300 metres underground below lush vegetation, has been picked by the Rome government as its candidate to host the so-called Einstein Telescope (ET). Italy is betting that its 1.9-billion-euro ($2.09 billion)project can bring much-needed investment to the island of Sardinia, one of the country's poorest regions. Mirrors at the end of each tunnel will reflect laser beams whose lengths are affected by the passage of gravitational waves. "The mine has become the alternative to the mine," Mario Calia, the 63-year-old mayor of Lula, told Reuters. Calia, himself a former miner, said the project would leave Lula's unspoiled natural landscape untouched while bringing in investment.

☆ Rossi proud to see Alpine back on the podium
▼ + stars: | 2023-05-29 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

I am happy for the team," the Frenchman told Reuters as he walked to the pitlane for a celebratory group photograph. On Sunday, in Alpine's 50th race under that branding, Gasly was seventh and the team overtook McLaren for fifth in the constructors' standings. "I’m proud of them and they should be proud too," said Rossi. Ocon, a winner in Hungary in 2021 with Alpine, said his third career podium capped a "superb weekend" for the team and hoped it was the start of something bigger. "From the simulator to really all the practice sessions, we improved the car from beginning to end and we didn't make a wrong foot any time," said the first Frenchman on the Monaco podium since Olivier Panis in 1996.

☆ JPMorgan Chase says Jeffrey Epstein paid tuition for kids of U.S. Virgin Islands governor
▼ + stars: | 2023-05-25 | by ( Dan Mangan | ) www.cnbc.com time to read: +9 min

Those charges were dropped in early 2016 by the Virgin Islands Department of Justice. The filing is part of the bank's defense of a civil lawsuit by the U.S. Virgin Islands alleging JPMorgan facilitated Epstein's sex trafficking of young women. CNBC has reached out to the de Jonghs for comment through an asset management firm in the Virgin Islands where the former governor is a director. Bryan also asked $30,000 go to the Virgin Islands Little League, according to the document. "In addition to visas, some of the young women Epstein brought to the island also neededemployment," the filing noted.

☆ Congo security forces fire tear gas at anti-government protesters
▼ + stars: | 2023-05-20 | by ( Ange Kasongo | ) www.reuters.com time to read: +2 min

[1/6] Tires and other objects burn as anti-government demonstrators take part in a riot after security forces broke up an attempted demonstration organized by the opposition and civil society members... Read moreKINSHASA, May 20 (Reuters) - Democratic Republic of Congo security forces fired tear gas and fought running battles in the streets of the capital Kinshasa with anti-government protesters demonstrating on Saturday over alleged irregularities in voter registration. Around a dozen protesters were detained by security forces just after the start of the demonstration, which was called for by opposition leaders. Congo's human rights minister Albert-Fabrice Puela, in a statement on Saturday, condemned the violence by security forces against demonstrators and the minor, and called for an investigation. "It's sad, you see, they are firing tear gas. Fayulu said by telephone that his vehicle was surrounded by security forces who continued to fire tear gas to disperse demonstrators.

☆ Opinion | Classical Crescendo
▼ + stars: | 2023-05-20 | by ( Maureen Dowd | ) www.nytimes.com time to read: +1 min

WASHINGTON — The orgasm heard around the world was reported by Magnus Fiennes, a composer and music producer who is the brother of Ralph Fiennes. Some in the audience tweeted back, wondering if the moaning was due to a medical condition. But the woman, who stayed with her smiling partner for the whole concert, has not come forward to clear it up. — it seems that classical music is getting hotter. Albert Imperato, a New York music promoter, says the idea is breaking through that classical music is not supposed to be safe and relaxing.

☆ Fairy-tale return for London ballet company’s ‘Cinderella’
▼ + stars: | 2023-05-19 | by ( Photography Dylan Martinez | Text Sarah Young | ) www.reuters.com time to read: +1 min

The stage at London’s Royal Albert Hall has been transformed into an enchanted forest, populated by gnomes, woodland creatures – and over 90 ballet dancers. After a forced four-year break due to the COVID pandemic, the ballerinas of the English National Ballet are back for a spectacular run of “Cinderella,” one of the company's biggest shows. Ticket sales for this year's “Cinderella” are up 20% on 2019, according to a spokesperson. Dancing there is a magical experience for Adams, given the venue’s 152-year history of hosting momentous cultural events, she said. “It just feels really special to be on the other side of it and to finally be living this out,” Adams said.

Persons: London’s Royal Albert Hall, ”, Precious Adams, Adams, COVID, ” Adams, Dylan Martinez, Sarah Young, Troy Dunkley Organizations: London’s Royal, English, Ballet, Royal Albert Hall, Reuters Locations: London's Kensington

☆ A secretive annual meeting attended by the world's elite has A.I. top of the agenda
▼ + stars: | 2023-05-18 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Sam Altman, CEO of OpenAI, is one among a number of business and political leaders set to join the annual Bilderberg Meeting in Lisbon, Portugal. OpenAI CEO Sam Altman will join forces with key leadership from firms like Microsoft and Google this week as a secretive meeting of the business and political elite kickstarts in Lisbon, Portugal. Artificial intelligence will top the agenda as the ChatGPT chief meets with Microsoft CEO Satya Nadella, DeepMind head Demis Hassabis, and former Google CEO Eric Schmidt at the annual Bilderberg meeting. All in, around 130 participants from 23 countries are set to attend the private meeting — a similar number to previous years. However, the event's organizers say that the discrete nature of the event is to allow for greater freedom of discussion.

☆ Springsteen draws criticism for not cancelling Italy gig after deadly floods
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

[1/4] American rock star Bruce Springsteen gestures during a concert of the European tour at Estadi Olimpic Lluis Companys in Barcelona, Spain, April 28, 2023. REUTERS/Albert GeaROME, May 18 (Reuters) - U.S. rock legend Bruce Springsteen came under criticism in Italy for going ahead with a concert in Ferrara on Thursday evening after the northern Emilia-Romagna region was battered by floods that left at least nine people dead. "@springsteen please consider to reschedule your concert today. Representatives for Springsteen did not immediately respond to a Reuters request for comment. Reporting by Francesca Piscioneri; editing by Alvise Armellini and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

BEIJING, May 18 (Reuters) - China needs to level the playing field between private and state owned firms, the Asian Development Bank's chief economist said on Thursday, adding that the world's second-largest economy risks "wasting a tonne of money" with a state-led growth model. The Manila-based lender "consistently" raises with China the importance of improving the business environment and the sustainability of the country's development, he said, while noting that a one percentage increase in growth in China can increase growth in developing Asia by 0.3%. The comments come amid growing signs that China's post-COVID economic recovery is losing steam, intensifying pressure on policymakers to shore up wobbly growth. Private fixed-asset investment rose only 0.4% last month, in sharp contrast to the 9.4% jump in investment by state entities, indicating weak business confidence. "If you look at the history of China's economic development, a lot of the gains in growth, productivity, and employment have come from the non-state sector," he added.

☆ Britain's Oxford University cuts ties with Sackler family over opioid links
▼ + stars: | 2023-05-17 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

The University of Oxford has cut ties with the Sackler family, whose wealth derives from opioid drugs, removing their name form a number of positions and buildings, including two galleries in the Ashmolean Museum. Britain's University of Oxford cut ties with key benefactor the Sackler family, whose wealth derives from addictive opioid drugs and stand accused of helping fuel a U.S. epidemic. The university said that the move, which was approved by its governing council Monday, had also received the "full support" of the Sackler family. "Oxford University has undertaken a review of its relationship with the Sackler family and their trusts, including the way their benefactions to the University are recognized," the university said in a statement. "Following this review, the University has decided that the University buildings, spaces and staff positions using the Sackler name will no longer do so," it said.

☆ World Bank suspends $1 bln worth of project funding in Congo
▼ + stars: | 2023-05-16 | by ( Sonia Rolley | ) www.reuters.com time to read: +3 min

The suspension will affect more than 600,000 beneficiaries, including victims of sexual violence, the World Bank told Congo's finance minister last week in a letter seen by Reuters. A World Bank spokesperson confirmed its authenticity. On May 4, Congolese President Felix Tshisekedi dissolved the structure, the "Social Fund of the Democratic Republic of Congo", by presidential order and created another public fund. A spokesperson for Congo's finance ministry said he was waiting for the go-ahead from the presidency before he could comment. Four of Congo's main opposition politicians wrote to the leaders of the International Monetary Fund, the World Bank and the African Development Bank last week asking them to conduct an audit of their funds in Congo, saying they suspected misuse.

☆ Alcaraz hopes to 'reset' ahead of French Open after Rome shock
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +2 min

The 20-year-old has been in superb form on clay, winning a title in Buenos Aires earlier in the season before triumphing in Barcelona and Madrid ahead of the Rome tournament. "In the second set I was close, I had my chances but didn't take them. Alcaraz said he was looking forward to some time off ahead of the year's second Grand Slam which starts on May 28. I need some days to reset my mind, to be fresh for Roland Garros," Alcaraz said. It's going to be really helpful to have days at home practising and getting ready."

☆ MLB roundup: Mets post 8-run inning, whip Nats in Max Scherzer's return
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +12 min

For seven innings, the game was a pitchers' duel between Cleveland rookie Tanner Bibee and the Angels' Patrick Sandoval. Zach Elfin (5-1) got the win after allowing four runs on seven hits in his six innings, striking out nine and walking one. Royals starter Jordan Lyles (0-7) was tagged for seven runs in 2 1/3 innings, allowing four hits and three walks. The loss overshadowed another strong outing by Giants starter Logan Webb, who allowed one run on three hits over seven innings. Boston's Corey Kluber (2-5) surrendered four runs on seven hits in five innings.

☆ Alcaraz says focus will not change as French Open top seed
▼ + stars: | 2023-05-14 | by ( ) www.reuters.com time to read: +1 min

Alcaraz, who turned 20 this month, captured the U.S. Open title in September to become the youngest man to top the world rankings. He will leapfrog Novak Djokovic into the number one spot again after the ongoing Italian Open. He is also assured of top billing at the May 28-June 11 French Open. "It doesn't change too much to be the number one or number two seed - I just focus on the tournament, on my game, on every match, and that's something that I try not to think about. "I grew up a lot in a year," Alcaraz said of his meteoric rise.

☆ My mom has 4 rules for a meaningful, fulfilled life: A happiness expert says she 'loves' them
▼ + stars: | 2023-05-14 | by ( Cameron Albert-Deitch | In Cameronalbertdeitch | ) www.cnbc.com time to read: +5 min

As long as I can remember, I've known the secret to happiness — or, at least, my mom's four rules for a happy life. It's generational: My Nonni originally gave the first three rules to my mom when my mom was 6 years old. You don't have to do anything in this world that you don't really want to do. You don't have to do anything in this world that you don't really want to do? Still, if I really, really wanted to, it might technically be possible.

☆ Balloons detect mysterious sounds in the stratosphere below the human hearing limit. Scientists can't explain.
▼ + stars: | 2023-05-13 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +6 min

Solar-powered balloons are recording mysterious sounds below human hearing in the stratosphere. These balloons listen to the Earth from a dozen miles up, but not in frequencies that the human ear can detect. "In the infrasound domain our planet is very rich," Bowman, a scientist at Sandia National Laboratories, told Insider. "I think one of the reasons humans can't hear infrasound is because we'd go nuts if we could." But Bowman wants to see more people flying infrasound-recording stratosphere balloons.

☆ A 31-year market vet who called the current bear market warns an impending credit crunch and recession will sink stocks by 45% as valuations remain higher than dot-com bubble levels
▼ + stars: | 2023-05-13 | by ( William Edwards | ) www.businessinsider.com time to read: +7 min

Indicators like initial and continuing unemployment claims and loan demand show weakness. A recession paired with high valuations spells trouble for stocks, he said. For example, the number of initial unemployment claims is starting to jump at a recessionary pace, Wolfenbarger said. The four-week moving average of initial unemployment claims has risen 29% over the last eight months. Hussman FundsWhat others are sayingMany market onlookers have highlighted high stock market valuations in recent weeks.

☆ Alcaraz powers to victory over Ramos-Vinolas on Rome debut
▼ + stars: | 2023-05-13 | by ( ) www.reuters.com time to read: +3 min

Barcelona and Madrid champion Alcaraz, who is chasing his fifth title of 2023 and fourth on clay ahead of Roland Garros, overcame an early loss of serve amid heavy conditions at the Foro Italico to level up the opening set at 2-2. Alcaraz continued to build momentum and raced ahead 3-0 in the second set against a fading Ramos-Vinolas, wrapping up the match on serve to make it 12 wins in a row. "It wasn't easy," said Alcaraz, who will now leapfrog Novak Djokovic into top spot in the rankings on May 22. "The first round of every tournament is really tough and, of course, Ramos-Vinolas is a specialist on clay. Monte Carlo champion Andrey Rublev earlier overcame Alex Molcan 6-3 6-4 in a twice-interrupted match to book his place in the third round.

☆ GOP law cut Big Pharma tax rates by 40%, Senate report says
▼ + stars: | 2023-05-11 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

A Republican law has slashed the average tax rates of big pharmaceutical companies by more than 40% since it was enacted in 2017, Senate Finance Committee Democrats said in a report Thursday. That provision allowed U.S.-based pharmaceutical companies to access lower tax rates on their foreign income, the report said. Pharmaceutical companies report 75% of their taxable income overseas, the report said. The report said the average rate fell to 11.6% in 2019 and 2020, which resulted in billions of dollars in tax savings for pharmaceutical companies. Wyden also obtained similar information about other U.S. pharmaceutical companies, including Abbott Laboratories , Amgen , Bristol Myers Squibb and Merck .

☆ Pfizer CEO says Medicare will likely face legal action over drug price negotiations
▼ + stars: | 2023-05-11 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Pfizer CEO Albert Bourla on Thursday said pharmaceutical companies will likely take legal action against Medicare drug price negotiations, which aim to cut costs for older Americans, but will likely reduce company profits. Bourla referred to a provision in the Biden administration's Inflation Reduction Act that will allow the Medicare program to negotiate prices on the costliest prescription drugs each year. The first negotiations start in September and new prices will go into effect in 2026. Some drugmakers are already preparing to fight Medicare drug negotiations, industry sources told Reuters. Another provision of the Inflation Reduction Act requires Pfizer and other prescription drug companies to refund Medicare through rebates if the prices of their drugs rise faster than the rate of inflation.

☆ Ahold Delhaize boosted by U.S. sales
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

May 10 (Reuters) - Supermarket group Ahold Delhaize (AD.AS) beat expectations with its first-quarter sales on Wednesday, reporting a higher margin for its U.S. stores while inflation hurt European profitability. The Netherlands-headquartered company, which operates Stop & Shop, Giant, Food Lion and Hannaford in the U.S. and Albert Heijn in the Netherlands, posted quarterly sales of 21.62 billion euros ($23.80 billion) to beat a 21.5 billion euro consensus from analyst forecasts compiled by the company. Ahold's underlying operating margin rose to 4.8% in the U.S. while in Europe it fell to 2.8%, hit by higher energy costs and a strike at Delhaize Belgium. Quarterly operating income was 822 million euros, in line with expectations of 823 million euros. ($1 = 0.9084 euros)Reporting by Helen Reid; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ No office tower is safe from the roiling market — not even a trophy building housing Google and Visa deemed one of the best
▼ + stars: | 2023-05-10 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +9 min

Potential problems at One Market Plaza show how far San Francisco's office market may fall. One Market Plaza has long been considered the pinnacle of San Francisco's office market. Autodesk plans to downsize by about 73,000 square feet to 211,000 square feet, a spokeswoman told Insider. Google did not respond to a request for comment on its plans for One Market Plaza. One Market Plaza could indicate how far San Francisco's office woes reachTurbulence at One Market Plaza indicates the extent of the problems facing San Francisco's office market.

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