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"The risk of a downgrade is exacerbated every time Congress flirts with the debt ceiling," said Calvin Norris, Portfolio Manager & US Rates Strategist at Aegon Asset Management, who sees another downgrade as still a risk. Economic damage from the 2011 and 2013 debt ceiling battles had a chilling impact. Rating agency Fitch and other smaller agencies recently placed the U.S. credit rating under review. Reuters GraphicsCASCADE EFFECTInvestors use credit ratings as one of the metrics to assess the risk profiles of governments and companies. In the 2013 debt ceiling crisis the legislative standoff did not cause a rating downgrade, although Fitch placed its rating under review.

Persons: Kevin McCarthy, Joe Biden, Leah Millis, Calvin Norris, Wendy Edelberg, Edelberg, Fitch, William Foster, ”, Andy Sparks, Olivier d'Assier, Peter Crane, MSCI's Sparks, Davide Barbuscia, Megan Davies, Nick Zieminski Organizations: U.S, White, REUTERS, Senate, Republicans, Aegon Asset Management, AAA, Government, Office, The, Brookings Institution, Moody's, Moody’s Investors Service, Applied Research, Crane, Treasury, Thomson Locations: Washington , U.S, U.S, United States, Washington, APAC, Qontigo

☆ Securonomics is fuzzy new lodestar for investors
▼ + stars: | 2023-06-02 | by ( Felix Martin | ) www.reuters.com time to read: +7 min

During the era of free trade and financial liberalisation, the politicians danced to the economists’ tune. President Joe Biden’s National Security Advisor explained that the era of unqualified support for free markets is over. The state will explicitly subsidise “specific sectors that are foundational to economic growth (or) strategic from a national security perspective,” Sullivan explained. Internationally, meanwhile, free trade is no longer the pole star. Sullivan’s 5,000-word speech devoted just three sentences to the World Trade Organization.

Persons: Rachel Reeves, Jake Sullivan, Joe Biden’s, ” Sullivan, Jacob Soll, Jean, Baptiste Colbert, Alexander Hamilton, Adam Smith, securonomics, Colbert, Hamilton, Christine Lagarde, Lagarde, ”, Soll, Peter Thal Larsen, Pranav Kiran Organizations: Reuters, Labour, Bank of England, White, U.S . Treasury, U.S . Trade Representative, Joe Biden’s National, Biden, offshoring, World Trade Organization, Industries, BAE Systems, Dow, Aerospace, Defense, U.S, Treasury, University of Southern, European Central Bank, Soviet, Russia, Thomson Locations: Washington, Tellingly, States, French, Scottish, University of Southern California, China, United States, Europe, Saudi Arabia

☆ Why Iran keeps seizing oil tankers in the Strait of Hormuz
▼ + stars: | 2023-06-01 | by ( Brad Howard | In | ) www.cnbc.com time to read: +1 min

Over the last decade, Iran has been causing more and more headaches for oil tanker operators in the Strait of Hormuz, a central artery of global trade. In the last two years alone, Iran has harassed, attacked or interfered with 15 internationally flagged merchant vessels. This critical waterway separates the Persian Gulf from the Arabian Sea, which makes it an important conduit for millions of barrels of oil that flow through the region. In response to Iranian ship seizures, the U.S. Navy's Fifth Fleet, which is responsible for security in the region, announced an increase in patrols. That included the guided-missile destroyer USS Paul Hamilton transiting the strait in late May.

Persons: Trump, Arona Baigal, Paul Hamilton, Victoria Coates Organizations: Middle East Security, Center, New, Navy's, Heritage Foundation, U.S Locations: Iran, Strait, Hormuz, New American, Iranian, U.S

☆ This couple bootstrapped their way to a multimillion-dollar business. Here are their top tips for success
▼ + stars: | 2023-06-01 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +5 min

The duo shared three tips with CNBC Make It on how to run a successful business — in good and bad times. Putting customers firstWhen it comes to building a successful business, Hamilton has one guiding principle: you have to make products that people love. She launched the hair masque in 2018 when she saw a "mid-tier space" in hair care products that had yet to be filled — products of salon-grade quality, but at an affordable price. When people love one product, you can convert product love to brand love. "When people love one product, you can convert product love to brand love," Ostrowski shared.

Persons: Emily Hamilton, Alexander Ostrowski, Coco, Tik, Ostrowski, Emily, Hamilton, Emily Hamilton Co, they're, —, it's, Alexander Ostrowski Co, there's, I've Organizations: CNBC, Hamilton, Eve, Coco Locations: Bali, Singapore, Covid

☆ An AI-powered drone tried to attack its human operator in a US military simulation
▼ + stars: | 2023-06-01 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +3 min

An AI-powered drone tried killing its operator in a US military simulation. But in a recent US military test simulation, a drone powered by artificial intelligence added its own problematic instructions: "And kill anyone who gets in your way." As an example, he described a simulated test in which an AI-enabled drone was programmed to identify an enemy's surface-to-air missiles (SAM). According to Hamilton, the drone was then programmed with an explicit directive: "Hey don't kill the operator — that's bad." It starts destroying the communication tower that the operator uses to communicate with the drone to stop it from killing the target," Hamilton said.

Persons: Tucker, Cinco, Hamilton, — Organizations: Service, US Air, Royal Aeronautical Society, US Air Force, Defense, Research Projects Agency, DARPA, Wired, Department of Defense Locations: London, Hamilton

☆ Alicia Keys Is Making a Musical. Her Own Life Inspired the Story.
▼ + stars: | 2023-06-01 | by ( Michael Paulson | ) www.nytimes.com time to read: +1 min

For more than a decade, Alicia Keys has been quietly developing a musical inspired by her own turbulent adolescence growing up among artists in New York City. Now that musical, “Hell’s Kitchen,” is almost ready for viewing: It will be staged this fall at the Public Theater, the downtown nonprofit where “A Chorus Line” and “Hamilton” were born. The show will feature some of Keys’s best known songs, as well as new material she has written for the musical. “This is a major, major turning point in my journey.”“Hell’s Kitchen” doesn’t precisely track the events of Keys’s own life, but there are strong parallels. (Ali, like Keys, is transformed by a passion for piano.)

Persons: Alicia Keys, “ Hamilton ”, Keys, ”, Ali Organizations: Public Theater Locations: New York City, Manhattan Plaza

☆ ‘Reality’ Review: An Unusual Suspect
▼ + stars: | 2023-05-31 | by ( Amy Nicholson | ) www.nytimes.com time to read: +1 min

Reality Winner’s life changed six years ago in June when F.B.I. agents showed up at her home in Georgia. I’m giving this background because Tina Satter’s gripping docudrama “Reality” doesn’t. Satter strips the political context from that first F.B.I. Working from the official transcript, Satter finds that the young woman is primarily concerned with the safety of her pets.

Persons: she’d, Miranda, Tina Satter’s, Sydney Sweeney, Josh Hamilton, Marchánt Davis, “, ” Organizations: U.S . Air Force Locations: Georgia

☆ Biden and McCarthy's plan to change SNAP work requirements in the debt-ceiling deal could actually expand benefits — but not employment
▼ + stars: | 2023-05-31 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +6 min

She led some of her Democratic colleagues in introducing an amendment to remove the new SNAP work requirements from the debt-ceiling bill. "Come see me in a year, and I'll show you how much we actually saved," McCarthy told reporters on Tuesday night. How the work requirements will impact employmentDespite McCarthy and Republicans' belief that work requirements will bolster employment, some experts aren't so sure. Work requirements in SNAP have increased employment less; in Medicaid, they appear to have had little effect on employment." "I think it goes to the principle of this bureaucratic red tape that we call work requirements," Jayapal said.

Persons: —, Joe Biden, Kevin McCarthy, Biden, McCarthy, — McCarthy, Cori Bush, Lauren Bauer, there's, Bauer, Bernard Yaros, it's, Yaros, Congressional Progressive Caucus Pramila Jayapal, Jayapal Organizations: SNAP, CBO, Service, Supplemental, Assistance, Democratic, Office, White, Economic, Brookings Institution, The, Brookings, Moody's, Congressional Progressive Caucus Locations: Missouri, TANF

☆ Daveed Diggs and Awkwafina Discuss ‘The Little Mermaid’
▼ + stars: | 2023-05-31 | by ( Leah Greenblatt | ) www.nytimes.com time to read: +1 min

He was 7-years-old when “The Little Mermaid” became a surprise animation hit and soundtrack juggernaut in 1989, and she was still a baby. Now they’re co-starring in the director Rob Marshall’s ambitious live-action reimagining, currently in theaters: Diggs, 41, as the sympathetic crab Sebastian, and Awkwafina, 34, as the birdbrained gull Scuttle. The pair discuss on-set rap battles, supporting the new Mermaid Halle Bailey and the art of stealing scenes by the seashore. How do you navigate the legacy of Samuel Wright and Buddy Hackett, the actors who originated the voice roles of Sebastian and Scuttle, without being weighed down by it? There was a way to do these characters that is just on the book, but Rob [Marshall] really facilitated a good environment to bring our own selves into it and improv.

Persons: Tony, “ Hamilton, Daveed Diggs, Nora Lum, they’re, Rob Marshall’s, Diggs, Sebastian, Halle Bailey, Samuel Wright, Buddy Hackett, Rob, Marshall Organizations: Rich Asians, Disney

Fox will pay $6 million, and CBS, now known as Paramount Global (PARA.O), will pay $5 million, the court filing showed. Representatives for Cox, Fox and CBS either declined to comment or did not immediately respond to a message seeking comment. Representatives from those defendants either declined to comment on the pending litigation or did not immediately respond to messages seeking comment. Plaintiffs' attorney Megan Jones at law firm Hausfeld, on Tuesday did not immediately respond to a message seeking comment. The case is In re: Local TV Advertising Antitrust Litigation, U.S. District Court for the Northern District of Illinois, No.

Persons: Cox, District Judge Virginia Kendall, schemed, Sinclair, Kendall, Megan Jones, Hausfeld, Freed, Robins Kaplan, Jennifer Giordano, George Cary, Cleary Gottlieb Steen, Nathan Eimer, Eimer Stahl, Weil, Brian Sher, Bryan Cave Leighton, Mike Scarcella, Leigh Jones Organizations: Fox, CBS, Cox Media Group, Fox Corp, CBS Corp, Northern, Northern District of Illinois, Paramount Global, U.S, District Judge, Cox, Sinclair Broadcasting Group Inc, Scripps Company, TEGNA Inc, U.S . Justice Department, Local, Antitrust Litigation, Northern District of, Millen, Latham, Watkins, Hamilton, Thomson Locations: U.S, Northern District, Chicago, Northern District of Illinois

☆ In the Market: Amid the calm, the Fed brews the next storm
▼ + stars: | 2023-05-29 | by ( Paritosh Bansal | ) www.reuters.com time to read: +4 min

Earlier this month, Chairman Jay Powell said the Fed's monetary policy and financial stability tools were "working well together," allowing it to support banks and pursue price stability. But several people in the market believe not only is the regional banking sector still under stress, multiple other risks to financial stability also remain. Tighter monetary policy could well cause them to blow up or worsen the impact of other shocks, such as debt ceiling negotiations. "The Fed has no desire to conduct monetary policy through financial crises," said Wendy Edelberg, director of The Hamilton Project at the Brookings Institution. In its most recent financial stability report earlier this month, the Fed listed several areas of concern, including life insurance and some types of bond and loan funds.

☆ F1 teams analyse crane photos for secrets of Red Bull floor
▼ + stars: | 2023-05-28 | by ( Alan Baldwin | ) www.reuters.com time to read: +2 min

MONACO, May 28 (Reuters) - Formula One rivals hope to discover some of dominant Red Bull's most closely guarded secrets from photographs of the underside of Sergio Perez's car after it was craned off the Monaco Grand Prix circuit. The floor is the most aerodynamically sensitive area of the car, with ground-effect sculpting responsible for much of the performance. Monaco marshals typically use cranes to clear stranded cars from the metal-fenced track because of the close confines and lack of runoff. "So the teams will be all over those kinds of photographs. "There’s a lot of very excited aerodynamicists up and down the pitlane looking at all of that."

☆ Can Formula 1’s Season Still Take a Turn?
▼ + stars: | 2023-05-28 | by ( Andrew Das | Josh Katz | ) www.nytimes.com time to read: 1 min

A dark tunnel and then a burst of blinding light along the waterfront. The famed Circuit de Monaco, which first hosted a grand prix race in 1950, is one of the most iconic stops on Formula 1’s schedule. But the bling and the boats disguise an open secret: it is incredibly narrow, incredibly hard to pass, and an incredibly easy place to find trouble. Just ask Lewis Hamilton, who saw his car lifted off the circuit by a crane after his own accident on Saturday. Or just ask Fernando Alonso, who qualified second but now must find a way to get past Max Verstappen if he is to taste victory.

☆ Verstappen wins in Monaco to make it six out of six for Red Bull
▼ + stars: | 2023-05-28 | by ( Alan Baldwin | ) www.reuters.com time to read: +4 min

"That was a real Monaco," Verstappen said after a 78-lap race that lasted an hour and 48 minutes. CLOSEST RIVALThe win was Verstappen's fourth of the season, second in Monaco and 39th of his career. Mexican team mate Sergio Perez, his closest title rival, started in last position after a qualifying crash and finished two laps down in 16th. Alpine's Pierre Gasly, Ferrari's Carlos Sainz, McLaren's Lando Norris and team mate Oscar Piastri completed the points positions. While Alonso celebrated his fifth podium of the season, and best result yet for Aston Martin, Canadian team mate Lance Stroll retired after repeated tangles with rivals.

☆ Verstappen takes first Monaco pole as Perez crashes
▼ + stars: | 2023-05-27 | by ( Alan Baldwin | ) www.reuters.com time to read: +4 min

Ferrari's Charles Leclerc, who had been hoping for his third home pole in a row, had to settle for third while Verstappen's team mate and closest title rival Sergio Perez crashed and will start last. "I think that is one of the best laps he’s ever driven in qualifying," said Horner of his champion's 23rd career pole. Last year's winner Perez, 14 points behind Verstappen after five races, crashed at the Sainte Devote first corner in the opening session. The Mexican crashed in the final phase of qualifying last year but started third, and ahead of Verstappen. Aston Martin's Lance Stroll was only 14th on the grid and behind the Williams of Alex Albon in 13th.

☆ Leclerc handed three-place grid drop at home Monaco GP
▼ + stars: | 2023-05-27 | by ( ) www.reuters.com time to read: +1 min

MONACO, May 27 (Reuters) - Ferrari's Charles Leclerc was handed a three-place grid drop for his home Monaco Grand Prix for impeding McLaren's Lando Norris in qualifying on Saturday, meaning he will start sixth instead of third. The penalty means also that Alpine's Esteban Ocon moves up to third and Ferrari's Carlos Sainz will start fourth. "Norris was on a fast lap and caught Leclerc in the middle of the tunnel and was clearly impeded," stewards said in a statement. "Both drivers agreed that there was little that Leclerc could have safely done in the tunnel to avoid impeding Norris, given the difficulty in vision" they added. The stewards said, however, that Ferrari had not warned Leclerc about Norris' approach until the Briton was already directly behind.

☆ Forty Cannes film festivals viewed through one photographer's lens
▼ + stars: | 2023-05-25 | by ( Eric Gaillard | ) www.reuters.com time to read: 1 min

The 76th edition of the festival, taking place from May 16 to May 27, has seen Cannes' usual population triple to 230,000 people to watch films, rub shoulders with celebrities, and - in some cases - compete for the coveted Palme D'Or. Gaillard, who is retiring after this festival, was there for Reuters, snapping Michael Douglas pointing at the camera with a cheeky grin and a besuited Harrison Ford receiving an Honorary Palme D'Or. He was there in 1997 when Michael Jackson was in attendance, in 2008 when Diego Maradona showed off soccer tricks, and in 2018 when Kristen Stewart kicked off her heels on the red carpet. A shot from the 48th edition of the festival in 1995 shows a disarmingly young Johnny Depp, while a black-and-white photo from 1987 depicts a tanned, bejeweled Liz Taylor with one-time flame George Hamilton.

"With loan terms tougher and tighter, the option for private credit providers is on steroids," said Drew Schardt, head of investment strategy at Hamilton Lane, one of the largest investment firms in private markets. Pietrzak sees "attractive" assets in auto and consumer lending. POISED TO GAIN SHAREInvestors providing private credit comprise 12% of the $6.3 trillion U.S. commercial credit market, according to Fitch Ratings. "The tightening of lending standards creates opportunities for private credit to gain share," said Lyle Margolis, Fitch's head of private credit. While private credit funds have grown swiftly, the risks they pose to the financial system appear limited, the Federal Reserve wrote in a report this month.

☆ Lin-Manuel Miranda’s San Juan, Puerto Rico
▼ + stars: | 2023-05-19 | by ( Danielle Pergament | ) www.nytimes.com time to read: 1 min

“When I was a kid, my bond was really with my grandparents,” said Lin-Manuel Miranda, the songwriter, actor, director and producer. “I would go to Puerto Rico with my family for a month every year. “I didn’t stay in a hotel, I stayed in town, I ate Puerto Rican food. That’s different than being a tourist.”Over the years, Mr. Miranda has become one of the most prominent advocates for Puerto Rico. Next month, he will bring his musical “Hamilton” back to San Juan’s Centro de Bellas Artes Luis A. Ferré for two weeks, hosting a fund-raiser to support the Hispanic Federation and the Flamboyan Foundation, a charity devoted to educational equity in Puerto Rico.

☆ Evelyne Axell was a trailblazer of erotic pop art in the 1960s. Then she died
▼ + stars: | 2023-05-17 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +7 min

CNN —Throughout Evelyne Axell’s short but radical career, the Belgian artist revered the female body in psychedelic hues rendered in gleaming enamel. In 1972, only a handful of years into painting, she died in a car crash and faded into relative obscurity. But such sales for Axell are infrequent, according to Sara Friedlander, Christie’s deputy chairman of post-war and contemporary art. Her stylistic approach — a mix of pop art influences and dreamy surrealist settings — is still underrecognized, according to Morris. “She acts as a historical bridge (between surrealism and pop art),” she said.

☆ Imola F1 race called off as floods devastate region
▼ + stars: | 2023-05-17 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

Last year's race drew a weekend crowd of 129,000 and 64,000 on the Sunday. Officials said at least eight people had died and thousands were evacuated from their homes in towns and cities across the region. The race was scheduled to be the sixth round of the season and the first in Europe. Red Bull have won every race so far and double world champion Max Verstappen is 14 points clear of team mate Sergio Perez. "We support the decision... safety to all those involved and in the region is paramount and has to take priority," the team said on Twitter.

Critics have said such awards encourage frivolous lawsuits and excessive fees going to class action attorneys who may seek to benefit their own interests instead. The Supreme Court in 2019 sidestepped resolving a challenge to cy pres awards in a case involving Google. Conservative Justice Clarence Thomas, dissenting in that case, called cy pres settlements "unfair and unreasonable." Monsanto has called the group, which advocates against what it considers abusive class action procedures, a "serial objector to class-action settlements." The group said in court papers that further steps could have taken to distribute the settlement award to class members.

☆ JPMorgan's massively popular income ETF is getting beat by its own sister fund
▼ + stars: | 2023-05-14 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

Investors are still jumping into the fund in 2023, pushing its total assets to about $26 billion. Through May 11, the fund has a total return of just 3.4% year to date, underperforming the S & P 500. Meanwhile, its sister fund, JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) , has been a big winner for investors. That fund has returned more than 17% this year, and its 30-day SEC yield is nearly 14%, as Nasdaq stocks have outperformed the S & P 500. "More volatile means you're going to get more potential upside by selling a farther-out-of-the-money call, and more income," Reiner said.

☆ Heather Armstrong, mommy blogger also known as Dooce, dies at 47
▼ + stars: | 2023-05-10 | by ( Scottie Andrew | ) edition.cnn.com time to read: +4 min

CNN —Heather Armstrong, an influential writer whose blog Dooce helped popularize mommy blogging, has died, her partner, Pete Ashdown, confirmed to CNN. “Heather B. Hamilton (Armstrong) was a brilliant, funny, compassionate writer who struggled with mental-health and alcoholism,” Ashdown said in a statement to CNN. In 2004, Dooce became the first personal website to start accepting a notable number of paid ads, the New York Times said. Toward the end of her life, Armstrong was characteristically frank with readers about her struggles with alcoholism. “Calling Dooce a mommy blogger was always an inadequate description of her breadth, her style and her early influence on blogging,” New York Times reporter Katie Rogers tweeted.

Our experts choose the best products and services to help make smart decisions with your money (here's how). My partner was willing to carry most of our financial load — and I couldn't help but find it unfair. However, being able to prioritize my health has been a huge benefit to my wellbeing. Some people assume that people with chronic pain and fatigue can just "work through it" or distract themselves with work. When it comes down to it, I realize that I need to take care of my physical health first.

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