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☆ Most major Gulf stock markets fall on hawkish Fed, Egypt extends rally
▼ + stars: | 2023-01-05 | by ( Shamsuddin Mohd | ) www.reuters.com time to read: +2 min

Saudi Arabia's benchmark stock index (.TASI) closed flat, as losses in energy and financial shares were capped by gains in real estate stocks. In Abu Dhabi, the benchmark index (.FTFADGI) declined 0.3%, as the country's largest lender First Abu Dhabi Bank (FAB.AD) eased 0.6% while fertiliser maker Fertiglobe (FERTIGLOBE.AD) tumbled 2.4%. Alpha Dhabi (ALPHADHABI.AD) and Abu Dhabi state fund Mubadala Investment plan to deploy up to 9 billion dirhams ($2.45 billion) in credit markets through a new joint venture, the companies said. Elsewhere, Abu Dhabi National Oil Company (ADNOC) said on Thursday it would allocate $15 billion to decarbonisation projects by 2030. The benchmark stock index in Qatar (.QSI) jumped 2.8% to close the week with a gain of 4.3%.

☆ 5 things to know before the stock market opens Thursday, January 5
▼ + stars: | 2023-01-05 | by ( Mike Calia | ) www.cnbc.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange during morning trading on January 04, 2023 in New York City. Chewing things overU.S. stock markets bounced back a little Wednesday, with the S&P 500 rising 0.75%, the Nasdaq increasing 0.69% and the Dow jumping 133 points. December's jobs report is coming Friday morning, as well, so market watchers still have another big data point to chew over this week. Amazon plans bigger job cutsAmazon CEO Andy Jassy speaks during the GeekWire Summit in Seattle on Oct. 5, 2021. David Ryder | Bloomberg | Getty ImagesAmazon plans to lay off more than 18,000 employees, far more than initially expected.

☆ Pickleball popularity explodes, with more than 36 million playing
▼ + stars: | 2023-01-05 | by ( Jessica Golden | ) www.cnbc.com time to read: +6 min

The latest numbers unveiled in the 2023 APP Pickleball Participation report, via a study conducted by YouGov, shows that 14% of Americans played pickleball at least once in that 12-month period. The real dillAcross the country, tennis courts and being replaced, and pickleball courts are moving in as other investors are shoring up big money. Since 2022, Life Time has constructed indoor and outdoor pickleball courts at a rate of five new permanent courts each week. "Pickleball participation [at Life Time] in a given month has risen from about 16,000 people to like 160,000. Major League Pickleball and the Professional Pickleball Association took notice and they have partnered with Life Time to host multiple tournaments across the country this year.

☆ Photos of lawmakers' kids looking tired perfectly encapsulates the House this week as the vote for speaker drags on
▼ + stars: | 2023-01-05 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

Several children were present on the House floor on Tuesday as the 118th Congress kicked off. But those hoping to see their parents sworn in were let down as GOP disarray stretched through two days. Members of Congress can't be sworn in until a speaker is elected, so these children were waiting for a ceremony that never came. Photo by Win McNamee/Getty ImagesSome kids had no choice but to wade into the thick of the disarray. Photo by Win McNamee/Getty ImagesHere's hoping any youngsters dragged back for a third day get the resolution the rest of the country also awaits.

You may need between 3% and 20% for a down payment, depending on which type of mortgage you get. We've calculated the dollar amount you'll need for 3%, 10%, and 20% down in America's 20 biggest cities. Depending on your lender and which type of mortgage you get, you could need up to 20% for a down payment. To get an idea of how this will look for many Americans, we've calculated how much you'd need for a 3%, 10%, or 20% down payment in the 20 largest US cities. On a $200,000 home, this means you'll need $6,000 for your down payment.

The latest vote saw a core group of GOP holdouts nominate and vote for Florida Rep. Byron Donalds, a sophomore Republican lawmaker who on Tuesday had publicly shifted his support away from McCarthy. While the vote is still ongoing, enough Republicans have abandoned McCarthy to leave him shy of the 218 he needs to win the coveted seat. WASHINGTON — In the fourth vote in two days, Republican leader Kevin McCarthy, R-Calif., again failed to secure enough support to win the U.S. House speakership. House Minority Leader Kevin McCarthy (R-CA) is seen at the US Capitol in Washington, DC on December 21, 2022. Kevin McCarthy will do a good job, and maybe even a GREAT JOB – JUST WATCH!"

☆ In apparent dig at McCarthy, Democrat Hakeem Jeffries nominated for speaker as a leader who does not 'grovel' to Trump
▼ + stars: | 2023-01-03 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +2 min

Democrats, now in the minority, nominated their leader Hakeem Jeffries for House Speaker. Republican Leader Kevin McCarthy, who Trump called "my Kevin," is struggling to win enough votes. Jeffries, of course, lost the vote on Tuesday, now that House Democrats are in the minority this Congress. Trump famously called McCarthy "my Kevin" and backed him for House Speaker. Alex Wong/Getty ImagesJeffries, a 52-year-old New Yorker, succeeds House Speaker Nancy Pelosi as House Democratic leader this Congress.

☆ Southwest Meltdown Shows Airlines Need Tighter Software Integration
▼ + stars: | 2023-01-02 | by ( Belle Lin | ) www.wsj.com time to read: +6 min

Southwest’s software wasn’t designed to solve problems of that scale, Chief Operating Officer Andrew Watterson said Thursday, forcing the airline to revert to manual scheduling. Unlike some large rivals with hub-and-spoke networks, Southwest planes hopscotch from city to city, which may have been another complicating factor. Mr. Alamzad said the most serious IT challenge airlines face stems from the applications developed in silos by vendors or the airlines themselves. Southwest recently completed an upgrade of its new reservation system and had been working through multiyear upgrades to systems used in its operations. Other carriers have given priority to upgrading customer-facing reservations platforms and flier loyalty programs over operations systems, Mr. Alamzad said.

☆ Gulf shares start new year in upbeat mood, Egypt outperforms
▼ + stars: | 2023-01-02 | by ( Shamsuddin Mohd | ) www.reuters.com time to read: +3 min

Jan 2 (Reuters) - Most major Gulf equities got off to a good 2023 start on Monday, with Egypt outperforming regional peers, as investors shrugged off concerns about a potential recession, crude oil demand and the U.S. Fed hiking rates further. Crude prices, which are highly correlated with Gulf financial markets, swung wildly in 2022 and are expected to remain under pressure in 2023. Abu Dhabi's index (.FTFADGI) advanced 0.4% on Monday, bolstered by a 0.6% increase in the country's largest lender First Abu Dhabi Bank (FAB.AD). The Qatari index last year posted its first annual loss since 2017, dropping 8.1% in 2022. Outside the Gulf, Egypt's blue-chip index (.EGX30) closed 2.5% higher, with Commercial International Bank Egypt (COMI.CA) climbing 3.1% while Abu Qir Fertilizers And Chemical Industries (ABUK.CA) was up 5.2%.

[1/3] House Republican Leader Kevin McCarthy (R-CA) speaks to reporters after McCarthy was nominated by fellow Republicans to be their leader or the Speaker of the House if they take control in the next Congress, following House Republican leadership elections at the U.S. Capitol in Washington, U.S., November 15, 2022. "I won't be voting for Kevin McCarthy tomorrow. In an interview last week with the conservative Daily Caller website, Gaetz said: "I think he's just a shill of the establishment. I think that Kevin McCarthy is little more than a vessel through which lobbyists and special interests operate." The power struggle could undermine House Republicans' hopes of moving forward quickly on investigations into Biden's administration and family.

"Lizzo: Live in Concert" showcases the award-winning artist performing on stage during her "Special" tour. "Lizzo: Live in Concert" is a new music special set to stream exclusively on HBO Max. Check out the trailer for 'Lizzo: Live in Concert'"Lizzo: Live in Concert" was filmed in November 2022 at the Kia Forum in Inglewood, CA. How to watch 'Lizzo: Live in Concert'You can watch "Lizzo: Live in Concert" on HBO Max starting December 31. Though HBO Max doesn't offer a free trial directly, you can watch "Lizzo: Live in Concert" for free if you sign up for HBO Max through Prime Video.

☆ Gulf markets rise on China optimism, Saudi leads
▼ + stars: | 2022-12-27 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

China will stop requiring inbound travellers to go into quarantine starting from Jan. 8, the National Health Commission said on Monday. Saudi Arabia's benchmark index (.TASI) gained 1.3%, led by a 1.8% rise in Al Rajhi Bank (1120.SE) and a 1.9% increase in oil giant Saudi Aramco (2222.SE). The Saudi stock market rose today while oil markets' prospects improved with China opening up, said Fadi Reyad, chief market analyst at CAPEX.com. "However, the main index remains near its lowest levels this year and could be at risk of other price corrections." According to Reyad, the Qatari index continued to decline under the weight of the natural gas market's performance.

☆ Most Gulf markets subdued on economic concerns; Dubai gains
▼ + stars: | 2022-12-26 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Dubai's main share index (.DFMGI) added 0.3%, ending three sessions of losses, helped by a 1.3% rise in sharia-compliant lender Dubai Islamic Bank (DISB.DU). Among other gainers, Islamic Arab Insurance (SALAMA) (SALAMA.DU) advanced 3.9%, after saying it is considering a proposal to acquire the insurance portfolio of Dubai Islamic Insurance and Reinsurance (Aman) (DNIN.DU). The benchmark index (.QSI) in Qatar - among the world's top exporters of liquefied natural gas - retreated 1.2%. Most stocks on the index were in negative territory including Qatar Islamic Bank (QISB.QA), which was down 2.4%. Outside the Gulf, Egypt's blue-chip index (.EGX30) climbed 1.2%, with El Sewedy Electric (SWDY.CA) surging 8.1%.

(Jason Armond / Los Angeles Times via Getty Images)A jury found rapper Tory Lanez guilty Friday of all charges in the 2020 shooting of Megan Thee Stallion outside a Los Angeles party. In a statement following the verdict, Los Angeles County District Attorney George Gascón commended Megan Thee Stallion for her "bravery." Alex Spiro, an attorney for Megan Thee Stallion, said in a statement, "The jury got it right. In her testimony, Megan Thee Stallion said Lanez offered her $1 million to keep quiet about the shooting. She said that Lanez had ordered the women to exit the SUV, and Megan Thee Stallion was walking away when the first shots were fired.

☆ U.S. House passes $1.7 trillion bill funding federal government through September, sending it to Biden
▼ + stars: | 2022-12-23 | by ( Christina Wilkie | ) www.cnbc.com time to read: +1 min

U.S. House Speaker Nancy Pelosi (D-CA) addresses reporters during a news conference at the U.S. Capitol in Washington, July 29, 2022. The funding measure passed the U.S. Senate on Thursday by a vote of 68-29. It is also the final major achievement in House Speaker Nancy Pelosi's speakership. By passing the federal spending package when she did, Pelosi ensured that government funding levels would be set in stone while Democrats still controlled the House. These guaranteed funding levels include $44.9 billion in military, humanitarian and economic aid for Ukraine.

☆ YouTube's NFL 'Sunday Ticket' deal is a win for traditional TV networks, too – here's why
▼ + stars: | 2022-12-23 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +5 min

Traditional TV networks got what they wanted out of it, too. Google's YouTube TV bundle includes broadcast stations like CBS, Fox and NBC. Sports, and particularly the NFL, have long been considered the glue holding the traditional TV bundle together. YouTube TV had more than 5.3 million subscribers as of the third quarter, putting it above its competitors like Disney's Hulu Live TV+, Fubo TV and Dish's Sling, according to data from MoffettNathanson. "This is a win for YouTube TV as it serves a larger goal for them getting more subscribers.

Some hardline Republicans have even urged an end to aid and an audit to trace how allocated money has been spent. The world is too interconnected to allow any country to stand aside and feel safe, Zelenskiy said as he appealed for bipartisan support. The United States also announced another $1.85 billion in military aid for Ukraine, including a Patriot air defence system to help it ward off barrages of Russian missiles. "We would like to get more Patriots ... we are in war," Zelenskiy told reporters at the White House. White House National Security Council spokesman John Kirby said Washington was seeing no sign that Russian President Vladimir Putin was willing to engage in peacemaking.

☆ 5 symbolic moments you may have missed from Zelenskyy's White House visit and historic address to Congress, from his green sweatshirt to quoting FDR
▼ + stars: | 2022-12-22 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +6 min

Ukrainian President Volodymyr Zelenskyy gave a historic address to Congress on Wednesday. Zelenskyy made multiple comparisons to World War II and American history during the speech. There were also a few symbolic aspects to Zelenskyy's visit, as well as similarities to historic events. Pelosi also gifted Zelenskyy with a flag — an American flag that flew over the Capitol on Wednesday — in honor of his visit. Comparison to the Battle of the Bulge and Battle of SaratogaZelenskyy again made a comparison to America's role in World War II, invoking the Battle of the Bulge.

☆ How a GOP-controlled House will attack ESG and corporate climate change strategy
▼ + stars: | 2022-12-21 | by ( Tim Mullaney | ) www.cnbc.com time to read: +2 min

"I don't think that's a proper characterization of my view," McHenry said in an interview with CNBC Senior Congressional Correspondent Ylan Mui. What I think corporations should do is focus on their key knitting," he said. Vanguard Group also had been scheduled to testify, but after the fund giant abandoned an investment industry climate alliance, that changed. McHenry, rated as one of the most moderate House Republicans by non-profit GovTrack US, doesn't seem interested in the state approach. "It plays politics with corporations, in the name of having corporations not play politics."

☆ 11 ancient sites that are mysteriously aligned with the sun on the winter solstice, in photos.
▼ + stars: | 2022-12-17 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +12 min

Archaeologists have found many ancient sites that line up with the winter solstice sun. Here are 11 sites that line up with the winter solstice, and what experts think about them. Newgrange, County Meath, IrelandPeople celebrating the sunrise at Newgrange on the morning of the winter solstice in 2018. ShutterstockOne of the most famous examples of ancient architecture lining up with the winter solstice is in Machu Picchu, Peru. "From the winter solstice the days are longer, which was a metaphor of the rebirth of the deceased," he said.

☆ Twitter's real problem is that the constant string of Elon Musk scandals is making it boring
▼ + stars: | 2022-12-16 | by ( Rob Price | ) www.businessinsider.com time to read: +4 min

InsiderThe only thing anyone talks about on Twitter these days is Elon Musk. Since Elon Musk acquired the company in October, there's been a new scandal every week. But as many have already pointed out, Twitter only has one main character now, and that's Elon Musk. The 51-year-old Tesla CEO is firmly centered at the heart of the platform's discourse, day after day. Twitter users who built their brand on the so-called #Resistance against President Donald Trump's administration have pivoted with glee to railing against Musk.

The central bank sets short-term interest rates but longer-term borrowing costs, such as for businesses and some mortgage rates, are determined by the bond market. Canadian bond yields, like U.S. bond yields, have tumbled since October as investors anticipate that the tightening cycle is nearing an end and the central bank is poised to shift to cutting rates next year. Bond yields, along with other measures, such as the strength of the stock market and the currency, help determine financial conditions, or the availability of funding in the economy. Since October, Canada's 5-year yield has tumbled nearly 100 basis points and the Toronto stock market (.GSPTSE) has rallied 11%. "Otherwise, we could be on an inflation and rates roller-coaster for years to come that is biased toward higher average inflation."

☆ Most Gulf markets in red on weak oil, Fed policy jitters
▼ + stars: | 2022-12-12 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

The Fed is widely expected to raise rates by 50 basis points at its last meeting of 2022 on Wednesday. Investors will also focus on the central bank's updated economic projections and Fed Chair Jerome Powell's press conference. Saudi Arabia's benchmark index (.TASI) dropped 1%, hitting its lowest since April last year, with Retal Urban Development Co (4322.SE) shedding 3.5%. Last week, Brent fell to its lowest since December 2021 amid concerns a possible global recession will hit oil demand. Outside the Gulf, Egypt's blue-chip index (.EGX30) gained 0.9%, bolstered by a 1.8% rise in top lender Commercial International Bank (COMI.CA).

☆ Black Californians could get $223,000 each in reparations — and it could even help close the state's homeownership gap
▼ + stars: | 2022-12-11 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +7 min

In 2020, CA Governor Gavin Newsom formed a task force to decide how the state could best administer reparations to Black residents. The task force has proposed providing upwards of $223,200 for each qualifying resident. However, few leaders have brought forward proposals that are as sweeping in scope as the one produced by California's special task force. The reparations proposal could help Black Californians obtain homeownershipAccording to the California Housing Finance Agency, Black Americans have the lowest homeownership rate in the state. Other states have also awarded reparations to their Black constituentsWhile the California proposal is sweeping in its scope, Newsom's office has the benefit of being able to study examples of reparations programs elsewhere.

☆ U.S. Congress passes landmark bill protecting same-sex marriage
▼ + stars: | 2022-12-09 | by ( Moira Warburton | ) www.reuters.com time to read: +4 min

It is narrowly written to act as a limited backstop for the 2015 Supreme Court decision that legalized same-sex marriage nationwide, known as Obergefell v. Hodges. The measure would repeal a 1996 U.S. law called the Defense of Marriage Act, which among other things denied federal benefits to same-sex couples. The Supreme Court in 1967 declared prohibitions on interracial marriage unconstitutional. But the legislation would not bar states from blocking same-sex or interracial marriages if the Supreme Court allowed them to do so. About 568,000 married same-sex couples live in the United States, according to the U.S. Census Bureau.

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