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☆ This Year’s G7 Summit Doubles as a Club for Unloved Leaders
▼ + stars: | 2023-05-20 | by ( Peter Baker | ) www.nytimes.com time to read: +1 min

They come from far corners of the globe, speak different languages, span the ideological spectrum and range in age from 43 to 80. But one thing President Biden and the other leaders of the Group of 7 meeting in Japan this weekend have in common? For Mr. Biden and his counterparts from the world’s leading industrial powers, it is an age of democratic discontent when electorates seem perpetually dissatisfied with the presidents and prime ministers they have chosen. But their troubles have a way of following them and can limit their options and influence. He ended the day by skipping out about 90 minutes early from the leaders’ gala dinner on Miyajima island to take another call from home on the spending talks.

☆ Biden Pays Silent Tribute to Victims of Hiroshima Bomb
▼ + stars: | 2023-05-19 | by ( Peter Baker | ) www.nytimes.com time to read: +1 min

President Biden was 2 years old when the nuclear era opened with a blast of devastation unlike any the world had ever seen. Seventy-eight years later, he came on Friday to ground zero of the first atomic bomb used in warfare to pay tribute to the dead. Mr. Biden and other world leaders met privately with a survivor, toured a museum, laid wreaths at the Hiroshima Peace Memorial and planted a tree. The president stared solemnly at the Cenotaph for the Atomic Bomb Victims as the city’s mayor described the monument. President Vladimir V. Putin of Russia has hinted ominously that he may yet unleash nuclear weapons to salvage his flailing invasion of Ukraine.

☆ For Biden, Crisis at Home Complicates Diplomacy Abroad
▼ + stars: | 2023-05-17 | by ( Peter Baker | ) www.nytimes.com time to read: +1 min

HIROSHIMA, Japan — President Biden leaves for Japan on Wednesday for a meeting of the leaders of seven major industrial democracies who get together each year to try to keep the world economy stable. But as it turns out, the major potential threat to global economic stability this year is the United States. It will fall to Mr. Biden to reassure his counterparts that he will find a way to avoid that, but they understand it is not solely in his control. The showdown with Republicans over raising the federal debt ceiling has already upended the president’s international diplomacy by forcing a last-minute cancellation of two stops he had planned to make after Japan: Papua New Guinea and Australia. Rather than being the unchallenged commander of the most powerful superpower striding across the world stage, Mr. Biden will be an embattled leader forced to rush home to avert a catastrophe of America’s own making.

☆ Why Was This Patient Turning So Yellow?
▼ + stars: | 2023-05-16 | by ( Lisa Sanders | ) www.nytimes.com time to read: +4 min

The color came from a buildup of something known as bilirubin, a breakdown product of red blood cells. Normally there is a constant low level of this dark-colored waste created and disposed of as red blood cells are born and die. The whites of a patient’s eyes might be a little yellow — it’s where jaundice is most easily seen — but this man was visibly yellow everywhere. Usually you see that only with a severe iron deficiency or with some anomaly in the shape of the red blood cells. Red blood cells with any other shape are destroyed at a much higher rate.

☆ Home Depot is facing a headwind from low home sales, says Bleakley's Peter Boockvar
▼ + stars: | 2023-05-16 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHome Depot is facing a headwind from low home sales, says Bleakley's Peter BoockvarPeter Boockvar, Bleakley Financial Group CIO, joins 'Power Lunch' to discuss Home Depot's weak consumer forecast and what it means for the economy.

☆ IMF official says Sri Lanka reforms critical, evaluating progress
▼ + stars: | 2023-05-15 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

COLOMBO, May 15 (Reuters) - The International Monetary Fund (IMF) mission in Sri Lanka will evaluate progress made on reforms so far and complete an exercise to improve governance in key areas of the economy, an IMF official said on Monday. An IMF team is in Colombo until May 23 as part of regular consultations ahead of the first review mission later this year. "It is now essential to continue the reform momentum," said Krishna Srinivasan, Director of Asia Pacific Department at IMF. Sri Lanka, with the help of a $2.9 billion bailout from the global lender, is trying to recover from its worst financial crisis since gaining independence in 1948 and turn around its battered economy. Peter Breuer, IMF Senior Mission Chief for Sri Lanka, Asia and Pacific Department said the lender will be looking at whether the government's macro framework is still appropriate or whether it requires revisions.

☆ Can the UK afford to host Ukraine’s Eurovision? It can’t afford not to
▼ + stars: | 2023-05-12 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +9 min

watch nowThe U.K. will host the 67th Eurovision Song Contest on May 13. What is the Eurovision Song Contest? The U.K. is hosting the 67th edition of the Eurovision Song Contest in 2023, as the war remains ongoing in Ukraine, 2022's winners. For one, the competition can be a great advert for the host city — and country — which can endure well after the party is over. Electro-pop duo Tvorchi is representing Ukraine in the 2023 Eurovision Song Contest.

Trump was back on CNN primetime during a town hall appearance on Wednesday night. And CNN certainly seemed to be eager for conservative buy-in during the Wednesday town hall, filling the room with a mixture of New Hampshire Republicans and effectively independent voters. The former president's advisor told other outlets that the town hall was an effort to underline Trump's 2016 strategy of reaching beyond the traditional GOP coalition. During the Wednesday town hall, Trump called Carroll a "whack job," echoing the very falsehoods that landed him with a defamation charge this week. "The predictably disastrous @cnn town hall was indeed disastrous," former broadcast exec and current dean of the Lawrence Herbert School of Communication at Hofstra University, Mark Lukasiewicz tweeted.

☆ 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.

☆ Biden Woos Republican Moderates in Debt Ceiling Standoff
▼ + stars: | 2023-05-10 | by ( Peter Baker | Nicholas Fandos | ) www.nytimes.com time to read: +1 min

President Biden sought to drive a wedge among Republicans in their escalating dispute over spending and debt on Wednesday, effectively reaching out to moderates in hopes of convincing them to break away from Speaker Kevin McCarthy rather than risk triggering a national default that could throw the economy into a tailspin. Appearing in a competitive suburb with a vulnerable House Republican in his sights, Mr. Biden accused Mr. McCarthy of pursuing a radical strategy at the behest of the “extreme” wing of his party loyal to former President Donald J. Trump, putting the country in economic jeopardy in a way that he said reasonable Republicans of his own era in the Senate would not have done. “They’ve taken control of the House,” Mr. Biden said of this wing to a friendly audience at SUNY Westchester Community College in New York’s Hudson Valley. “They have a speaker who has his job because he yielded to the, quote, MAGA element of the party,” he added. Those hard-right Republicans, Mr. Biden said, are “literally, not figuratively, holding the economy hostage by threatening to default on our nation’s debt, debt we’ve already incurred, we’ve already incurred over the last couple hundred years, unless we give into their threats and demands.”

☆ Rocket Lab revenue increases slightly, company adds NASA launch contract
▼ + stars: | 2023-05-09 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Rocket Lab's revenue increased slightly in the first quarter, but losses grew as well, as the spacecraft and launch company added a NASA contract and continued to invest in its future Neutron vehicle. Rocket Lab said an increase in R&D spending for its Neutron rocket and Photon spacecraft drove a rise in expenses. The development of our larger rocket Neutron is continuing at pace," Rocket Lab founder and CEO Peter Beck said in a statement. It had $450 million in cash on hand at the quarter's end, down from $484.3 million the prior quarter. Shares of Rocket Lab were little changed in after-hours trading from its close at $3.94 a share.

☆ Bleakley’s Peter Boockvar explains why he believes an economic downturn is inevitable
▼ + stars: | 2023-05-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBleakley’s Peter Boockvar explains why he believes an economic downturn is inevitablePeter Boockvar, Bleakley Financial Group CIO, joins 'Squawk Box' to discuss the results from the Fed's quarterly Senior Loan Officer Opinion Survey, and why a recession is likely unavoidable.

Russian service members rehearsing last week for the military parade in Moscow on Tuesday, when Russia celebrates the anniversary of the victory over Nazi Germany in World War II. More recently, he has tried to wrap Ukraine into that narrative, falsely depicting it as a Nazi redoubt. The parade is likely to be subjected to closer scrutiny than usual, both inside Russia and beyond its borders. This year, the jets have skipped their usual practice runs over Moscow, raising questions about whether they will participate. Dmitri S. Peskov, the Kremlin spokesman, said the march was canceled as a “precautionary measure” against possible attacks.

Which raises a lot of questions, including what is the debt limit and why does the United States have one? Here’s everything you need to know about the debt limit. What is the debt limit? Why does the United States have a debt limit? While the debt limit was created to make government run more smoothly, many policymakers believe that it has become more trouble than it’s worth.

☆ Biden and McCarthy to Discuss Debt Limit as a Possible Default Looms
▼ + stars: | 2023-05-09 | by ( Peter Baker | Jim Tankersley | ) www.nytimes.com time to read: +1 min

WASHINGTON — President Biden will meet with Speaker Kevin McCarthy at the White House on Tuesday in a critical face-to-face confrontation that will frame their showdown over the federal debt and spending in the weeks before the nation is set to default on its obligations for the first time in history. With the American and perhaps the global economy hanging in the balance, the meeting will be the first sit-down session between the Democratic president and Republican speaker since February. But even the terms of the discussion are in dispute: Mr. McCarthy insists the president negotiate a debt ceiling deal with him, while Mr. Biden insists the meeting will just be an opportunity to tell the speaker that there will be no negotiations over the limit. The meeting in the Oval Office will feature Mr. Biden, Mr. McCarthy and three other congressional leaders: Representative Hakeem Jeffries of New York, the Democratic leader in the House, and Senators Chuck Schumer of New York and Mitch McConnell of Kentucky, the Democratic and Republican leaders in the Senate. But Mr. Biden and Mr. McCarthy are the key players, locked in a political game of chicken to see who will blink first on raising the debt ceiling.

☆ Shell and BP’s Hidden Spark
▼ + stars: | 2023-05-08 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Shell, like BP, produced more oil and gas to offset lower energy prices. Photo: Peter Boer/Bloomberg NewsEurope’s cheap oil stocks are straining to catch up with more highly valued American ones. Shell and BP continued to make bumper profits in the first quarter of the year. They produced more oil and gas to offset lower energy prices, but their commodity traders also played a role. While neither company splits out profits from trading, BP said its gas trading result was “exceptional” in the quarter.

☆ Bentley production chief to lead Volkswagen's software overhaul - sources
▼ + stars: | 2023-05-08 | by ( Jan Schwartz | ) www.reuters.com time to read: +2 min

May 8 (Reuters) - Volkswagen (VOWG_p.DE) will announce later on Monday the removal of leadership at its troubled software arm Cariad and the appointment of Bentley production chief Peter Bosch to take the unit's helm, two sources close to the company said. Volkswagen is set to dismiss all but one of the unit's current executive board members, with only human resources head Rainer Zugehoer to remain. Bosch will also take over financial management at Cariad, the sources said, confirming an earlier report by Handelsblatt. Sources said at the time that Diess' failure to put Cariad, a business he set up, on a solid footing contributed to his ousting. Reporting by Jan Schwartz, Writing by Victoria Waldersee, Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

☆ A.I. can 'augment humanity in a very positive way,' says family office investor Peter Bordes
▼ + stars: | 2023-05-08 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

Despite the focus on tech giants like Microsoft , Google and Meta when it comes to A.I., Bordes said family offices are uniquely positioned to invest in emerging A.I. He said family offices' long time horizon, entrepreneurial experience make them ideal investors in A.I. And that's one of the things that family offices don't really think leverage up as much as they should. but all the disruptive global innovation that's happening because all family offices, family businesses, those businesses have far reach into industries where they can have influence and helping these companies really accelerate." He said family offices that do invest with first-time founders should provide their experience and expertise along with their capital.

☆ Biden Casts Himself as the Trump Beater. Polls Suggest That’s No Sure Thing.
▼ + stars: | 2023-05-08 | by ( Peter Baker | ) www.nytimes.com time to read: +1 min

WASHINGTON — Boiled down, President Biden’s argument for running for a second term rather than ceding the ground to the next generation is that he is the Democrat most assured of beating former President Donald J. Trump next year. But a striking new poll challenged that case in a way that had much of the capital buzzing the last couple of days. Taken at face value, the poll showed Mr. Biden trailing Mr. Trump by six percentage points in a theoretical rematch, raising the question of whether the president is as well positioned as he maintains. But even if it is an outlier, other recent surveys have indicated that the race is effectively tied, with either Mr. Biden or Mr. Trump holding narrow leads within the margin of error. Taken together, they suggest that the president opens the 2024 campaign facing enormous challenges with no guarantee of victory over Mr. Trump.

☆ Opinion | Why Joe Biden Needs a Primary Challenger
▼ + stars: | 2023-05-08 | by ( Peter Beinart | ) www.nytimes.com time to read: +2 min

To understand why progressives should challenge Joe Biden in the upcoming Democratic presidential primary, remember what happened during the last one. Mr. Sanders’s supporters joined Mr. Biden’s allies in working groups that crafted a common agenda on the economy, education, health care, criminal justice, immigration and climate change. From those task forces came what Barack Obama called “the most progressive platform of any major-party nominee in history.” And that progressivism continued into Mr. Biden’s presidency. With rare exceptions, Mr. Biden hasn’t challenged the hawkish conventional wisdom that permeates Washington; he’s embodied it. America’s new cold war against Beijing may enjoy bipartisan support in Washington, but it doesn’t enjoy bipartisan support in the United States.

☆ Berkshire Hathaway shares rise as investors cheer earnings beat and Geico's quick turnaround
▼ + stars: | 2023-05-08 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Warren Buffett tours the grounds at the Berkshire Hathaway Annual Shareholders Meeting in Omaha Nebraska. Berkshire's B shares climbed 1.5% in premarket trading, set to add to their 5% gain so far this year. — Berkshire Hathaway shares rose on Monday as Warren Buffett's conglomerate wooed investors with a strong earnings report and an insightful "Woodstock for Capitalists" over the weekend. The strong performance was driven by a rebound in Berkshire's insurance business, especially auto insurer Geico. Geico's surprise recoveryGeico, the crown jewel of Berkshire's insurance empire and Buffett's favorite child, saw a big turnaround in the quarter, returning to an underwriting profit of $703 million.

☆ How one family office is putting money to work with A.I.
▼ + stars: | 2023-05-08 | by ( Robert Frank | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow one family office is putting money to work with A.I. CNBC's Robert Frank sits down for an interview with Trajectory Ventures Founder and Managing Partner, Peter Bordes, to discuss how his family office is managing its portfolio and why artificial intelligence is a large part of his investing thesis.

☆ Australia stamps authority on SailGP with third $1 million win
▼ + stars: | 2023-05-08 | by ( Alexander Smith | ) www.reuters.com time to read: +2 min

May 8 (Reuters) - Tom Slingsby and his Australian crew clinched this season's SailGP Championship in San Francisco Bay on Sunday, notching up their third straight win and with it another $1 million prize. A dominant Australia held off a last-minute surge from runner-up Peter Burling's New Zealand in the three-boat final, with Ben Ainslie's Emirates Great Britain trailing in behind in what has been billed as sailing's answer to Formula One. There will be little downtime for the crews with SailGP's fourth season due to begin on June 16-17 in Chicago, the first of 12 events around the world which will culminate once again in San Francisco Bay in July next year. SailGP said that a new team, which it did not name, would be joining the others for the start in the next U.S. event. Reporting by Alexander Smith in London; Editing by Peter RutherfordOur Standards: The Thomson Reuters Trust Principles.

☆ Yogi Berra on the Field: The Case for Baseball Greatness
▼ + stars: | 2023-05-08 | by ( Lorne Manly | ) www.nytimes.com time to read: +1 min

In the latest edition of Bartlett’s Familiar Quotations, there’s a sports figure who towers over the competition. Among the nine sayings attributed to one Lawrence Peter Berra, the New York Yankees catcher better known as Yogi, are phrases that may seem nonsensical at first, but on further reflection offer wisdom for the ages. “You can observe a lot by watching.”“It was déjà vu all over again.”And of course, there’s “It ain’t over till it’s over,” which provides the title for a new documentary about Yogi’s life. “It Ain’t Over” aims to be a corrective to the caricature implanted in the cultural consciousness of Yogi as an amiable clown, a malaprop-prone catcher who looked as if he were put together with spare parts. But Yogi was not only a cuddly pitchman for insurance, beer and chocolate milk, an inspiration for a certain cartoon bear, and a stand-up guy beloved by teammates; he was, the film argues, one of the best baseball players who ever lived.

☆ Elon Musk once praised a rocket CEO who didn't go to college for beating Jeff Bezos to orbit, new book reveals: 'Bezos has spent a shitload of money, and he hasn't made it'
▼ + stars: | 2023-05-08 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +4 min

A new book reveals Elon Musk once praised a rival New Zealand rocket CEO in a 2018 phone call. Musk said it was "impressive" that Rocket Lab launched a rocket into orbit before Blue Origin, per the book. Like SpaceX, Rocket Lab has been able to launch rockets into orbit — something Bezos' Blue Origin company has not yet achieved. In March, Rocket Lab launched its 35th Electron rocket just a week after launching its 34th Electron rocket. Neither Rocket Lab, Blue Origin, nor Musk responded to Insider's requests for comment.

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