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☆ MLB roundup: Shohei Ohtani shines as Angels sweep Tigers
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +4 min

[1/4] Jul 27, 2023; Detroit, Michigan, USA; Los Angeles Angels starting pitcher Shohei Ohtani (17) celebrates with teammates after he hits a home run in the fourth inning against the Detroit Tigers at Comerica Park. Mike Moustakas scored a pair of runs for Los Angeles, which has won seven of its last eight games. Angels 11, Tigers 4 (Game 2)Shohei Ohtani hit a pair of homers and drove in three runs before departing with cramping as Los Angeles completed a doubleheader sweep with a victory over host Detroit. Ohtani hit his major league leading 37th and 38th home runs but grabbed his side after the latter homer. Ohtani tossed the first complete game shutout of his career in the Angels' 6-0 victory earlier in the day.

Persons: Shohei Ohtani, Rick Osentoski, Ohtani, Taylor Ward, Kerry Carpenter, Ohtani's, Ward, Trey Cabbage, Mike Moustakas, Michael Lorenzen, Hunter Renfroe, Matt Thaiss, Luis Rengifo, Eduardo Escobar, Patrick Sandoval, Justin Steele, Louis, Steele, Yan Gomes, Mike Tauchman, Andrew Knizner, Miles Mikolas, Ian Happ, Happ, Willson Contreras, Josh Naylor, Jake Burger, Tanner Bibee, Emmanuel Clase, Daniel Vogelbach, Mark Canha, Jeff McNeil, Pete Alonso, Mason Thompson, Vogelbach, DJ Stewart, Canha, Kyle Finnegan, Alonso, David Peterson, Brooks Raley, Keibert Ruiz lofted Organizations: Los Angeles Angels, Detroit Tigers, Comerica Park, Los, Detroit, Tigers, Angels, Cubs, Cardinals, St, White Sox, Cleveland, skidding Chicago, The, Mets, Nationals, New, Washington, Thomson Locations: Detroit , Michigan, USA, Los Angeles, cramping, Chicago, New York

WASHINGTON, July 28 (Reuters) - The United States unveiled a Taiwan weapons aid package worth up to $345 million on Friday, a move likely to anger China even as the Biden administration declined to publicly provide details on the arms in the package. Congress authorized up to $1 billion worth of Presidential Drawdown Authority weapons aid for Taiwan, which strongly rejects Chinese sovereignty claims, in the 2023 budget. Beijing has repeatedly demanded the United States, Taiwan's most important arms supplier, halt the sale of weapons to the island. China views democratically governed Taiwan as its territory and has increased military pressure on the island over the past three years. Earlier this month, the top U.S. general said the United States and its allies need to speed up the delivery of weapons to Taiwan in the coming years to help the island defend itself.

Persons: Biden, General Atomics, Defense Lloyd Austin, Mike Stone, Idrees Ali, Jasper Ward, Dan Whitcomb, Yimou Lee, Richard Chang, Muralikumar Organizations: United, Reuters, U.S . Air Force, Defense, Presidential, Authority, Thomson Locations: United States, Taiwan, China, Beijing, Ukraine

☆ Biden publicly acknowledges seventh grandchild for first time
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, July 28 (Reuters) - U.S. President Joe Biden publicly acknowledged a seventh grandchild for the first time on Friday in a statement to People Magazine. The 4-year-old girl is the child of Biden's son, Hunter, who settled a years-long court battle over child support in June. Jill and I only want what is best for all of our grandchildren, including Navy," Biden said. Speaking at an event at the White House in April, Biden noted that he was "crazy" about his six grandchildren, adding that he spoke to them every day. Some Republicans and Democrats have criticized Biden's past decision not to acknowledge his seventh grandchild.

Persons: Joe Biden, Hunter, it’s, Biden, Jasper Ward, Cynthia Osterman Organizations: People Magazine, Navy, White House, Republicans, Thomson

☆ China is showing up big for Russia but a Cold War historian says Putin is making a 'potentially grave error' and shouldn't expect the lifeline to last
▼ + stars: | 2023-07-26 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

China has been a key ally and crucial trade partner to Russia during the war in Ukraine. Cold War historian Sergey Radchenko argued in a New York Times op-ed that it's unwise for Putin to rely on China. Radchenko said history shows China will flip on allies as needed if it's to their benefit. Putin and Chinese President Xi Jinping have boasted about their "no limits" friendship, driven in part by a desire to curb US power. Some have argued that, at least for now, China may need Russia too.

Persons: Sergey Radchenko, Putin, Radchenko, Vladimir Putin, Xi Jinping, Xi, Mao Zedong, Jonathan Ward, Insider's Tom Porter Organizations: New York Times, Service, Kremlin, Politico, Johns Hopkins University, The New York Times, Communist, USSR, Communist Party, Atlas Group Locations: China, Russia, Ukraine, Cold, Wall, Silicon, West . China, Soviet Union, United States

☆ Bo Goldman, Oscar-Winning Screenwriter, Dies at 90
▼ + stars: | 2023-07-26 | by ( Neil Genzlinger | More About Neil Genzlinger | ) www.nytimes.com time to read: +1 min

Bo Goldman, one of Hollywood’s most admired screenwriters, who took home Oscars for his work on “One Flew Over the Cuckoo’s Nest” (1975) and “Melvin and Howard” (1980), died on Tuesday in Helendale, Calif. The resulting movie, which starred Jack Nicholson as a rebellious new patient who disrupts a psychiatric ward, came out in 1975 and was a career maker. Mr. Goldman and Lawrence Hauben, who shared screenwriting credit, won the Oscar for best screenplay adapted from other material; the movie was also named best picture and earned Oscars for Mr. Forman, Mr. Nicholson and Louise Fletcher, who played the fierce Nurse Ratched. “Even then I hung my head,” Mr. Goldman wrote in a 1981 essay for The New York Times about the insecurities of a writer’s life. “After all, I had adapted somebody else’s work; was it really mine?”

Persons: Bo Goldman, “ Melvin, Howard ”, Todd Field, Goldman, Milos Forman, —, Ken Kesey’s, Jack Nicholson, Lawrence Hauben, Oscar, Forman, Nicholson, Louise Fletcher, Ratched, “, ” Mr Organizations: The New York Times Locations: Helendale, Calif

☆ Ukraine war live updates: Kyiv faces sixth attack this month; Zelenskyy says Ukraine grain export ban 'unacceptable'
▼ + stars: | 2023-07-25 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Mykola, 50, the deputy commander of a Ukrainian volunteer unit, poses with a night vision scope at a position used by the unit to counter threats during air raid sirens, in a suburb of Kyiv. Kyiv faced its sixth air attack this month early Tuesday, the Kyiv City Military Administration wrote on Telegram, but all drones were detected and destroyed "in a timely manner," according to a Google translation. There were no casualties and the city was not damaged, KCMA head Serhiy Popko wrote. External forces have continued to urge Russia to return to the Black Sea Grain Initiative, which it abandoned on July 17, prompting a surge in wheat prices. "With the termination of the Black Sea Initiative, the most vulnerable will pay the highest price," U.N. Secretary-General Antonio Guterres told the U.N. food summit on Tuesday.

Persons: Mykola, Serhiy Popko, Antonio Guterres Organizations: Kyiv, Kyiv City Military Administration, Initiative, Black Sea Initiative Locations: Ukrainian, Kyiv, Ukraine, Odesa, Russia

☆ The bull case for GM: Shares jump 14% year-to-date
▼ + stars: | 2023-07-25 | 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 EmailThe bull case for GM: Shares jump 14% year-to-dateMichael Ward, The Benchmark Company, joins 'Power Lunch' to discuss the auto sector and his buy rating on GE as its shares trade lower.

Persons: Michael Ward Organizations: GM, Benchmark Company, GE

☆ General Motors shares dip after second-quarter earnings. Here's what the pros are saying
▼ + stars: | 2023-07-25 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGeneral Motors shares dip after second-quarter earnings. Here's what the pros are sayingJim Cramer, Mark Fields of TPG Capital and Michael Ward of The Benchmark Company discussed General Motors after the company reported 2Q results that beat on revenue and raised its full-year guidance.

Persons: Jim Cramer, Mark Fields, Michael Ward Organizations: General Motors, TPG Capital, Benchmark Company, Motors

☆ UN starts removing oil from decaying tanker near Yemen in Red Sea
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

U.N. officials have been warning for years that the Red Sea and Yemen's coastline was at risk as the Safer tanker could spill four times as much oil as the 1989 Exxon Valdez disaster off Alaska. "The ship-to-ship transfer of oil which has started today is the critical next step in avoiding an environmental and humanitarian catastrophe on a colossal scale." The oil transfer is expected to take 19 days to complete, the United Nations' Development Programme (UNDP) said in a statement. "We are obviously very cautious – it's only the beginning of a transfer," UNDP spokesperson Sarah Bel told a Geneva press briefing when asked about the operation's risks. "The cost of an oil spill is estimated to be approximately $20 billion, and it will take years to clean up," she added.

Persons: Antonio Guterres, Sarah Bel, Nadine Awadalla, Nayera Abdallah, Emma Farge, Clauda Tanios, Louise Heavens, Jan Harvey Organizations: United Nations, Programme, UNDP, Thomson Locations: DUBAI, GENEVA, Alaska, Yemen, Geneva, Dubai

☆ Ukraine war live updates: Russia reports 'terrorist' drone attack on Moscow; more deadly strikes in Odesa
▼ + stars: | 2023-07-24 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Russia blamed Ukraine for an attempted "terrorist attack" in Moscow Monday, which did not result in casualties. The Russian Defence Ministry posted on Telegram that two Ukraine drones were "suppressed and crashed" in the early hours of the morning and reported "no victims." The city was hit by a deadly Russian airstrike, which killed at least one person and left another 22 injured. Ukrainian member of Parliament Kira Rudik told Sky News that the night of the attacks was "probably the most vicious" since Russia's full-scale invasion of Ukraine. The hostilities destroyed a grain depot and large parts of the Spaso-Preobrazhenskyi Cathedral in the port city, according to Ukrainian officials.

Persons: Sergei Sobyanin, Kira Rudik Organizations: Russian Defence, Sky News, Russia Locations: Russia, Ukraine, Moscow, Kyiv, Odesa, Preobrazhenskyi

☆ Opinion | Evangelicals Once Backed Jimmy Carter. How Did Politics Take Over?
▼ + stars: | 2023-07-24 | by ( Jane Coaston | ) www.nytimes.com time to read: +1 min

Many white evangelical Christians love Donald Trump — a fact of American politics that has shaped the makeup and rulings of the Supreme Court, the culture and morality wars waged by the Republican Party and the political evolution and power of evangelicals themselves. At the same time, some forms of evangelical Christianity are becoming less Christian, with believers less likely to attend church and less likely to embrace some of the faith’s most bedrock beliefs. How did millions of Americans go from “I Kissed Dating Goodbye” to Mr. Trump, who appeared on the cover of Playboy magazine? It was never ordained that he would become a man compared to biblical figures. As Jon Ward sees it, truly understanding American politics right now requires us to have a much more nuanced and informed perspective on evangelical culture and history.

Persons: Donald Trump, Trump, Jon Ward, Ward, God, ” Organizations: Republican Party, Playboy

☆ US State Dept has not had substantive communication with North Korea since US soldier crossed border
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, July 24 (Reuters) - The U.S. State Department has not had any substantive communication with North Korea since U.S. soldier Travis King crossed into the North last week, State Department spokesperson Matthew Miller told reporters on Monday. A U.S. flag hangs on the porch and a "Proud parent of a U.S. Army soldier" sticker adorns the car outside the home of 23-year-old Private Travis King's mother in Racine, Wisconsin, U.S., July 19, 2023. REUTERS/Eric Cox/File PhotoMiller said Washington has made outreach to ascertain the whereabouts of King and to ascertain information about his safety, but have not received any response. King, a U.S. Army private serving in South Korea, sprinted into North Korea on July 18 while on a tour of the Demilitarized Zone on the inter-Korean border. Reporting by Simon Lewis, Jasper Ward and Daphne Psaledakis; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Travis King, Matthew Miller, Travis King's, Eric Cox, Miller, Washington, King, Simon Lewis, Jasper Ward, Daphne Psaledakis, Chris Reese Organizations: U.S . State Department, State, U.S . Army, REUTERS, Thomson Locations: North Korea, U.S, Racine , Wisconsin, South Korea

☆ Israel's Netanyahu in hospital after getting pacemaker
▼ + stars: | 2023-07-23 | by ( ) www.cnbc.com time to read: +2 min

Israeli Prime Minister Benjamin speaks to the media on March 16, 2023 in Berlin, Germany. Israeli Prime Minister Benjamin Netanyahu was fitted with a pacemaker on Sunday after experiencing a heart arrhythmia, and was under observation in the cardiac ward of a Tel Aviv-area hospital, his doctors said. Before the implant, a smiling Netanyahu recorded a video declaring: "I feel great, but I need to listen to my doctors." Washington has urged Netanyahu to seek broad agreements over any judicial reforms. In his video, Netanyahu suggested that last minute agreements could be reached.

Persons: Benjamin, Benjamin Netanyahu, Roy Beinart, Netanyahu, Beinart Organizations: Sheba Medical Locations: Berlin, Germany, Israeli, Tel Aviv, holidaying, Galilee, Jerusalem, United States, Washington, Israel, Yom Kippur

☆ ECB to ask banks to provide weekly liquidity data to monitor their health, supervisory chief says
▼ + stars: | 2023-07-22 | by ( ) www.reuters.com time to read: +1 min

MILAN, July 22 (Reuters) - The European Central Bank (ECB) will ask banks to provide weekly liquidity data from September so that it can carry out more frequent checks on their ability to ward off potential shocks as interest rates rise, the ECB supervisory chief said on Saturday. In an interview published by Milano Finanza, Andrea Enria said that European banks were stronger than before but that financial markets were still in a "delicate phase" due to the Ukrainian war, higher inflation and fast-rising interest rates. All these factors can increase liquidity and funding risks, Enria said, adding that the ECB would be very focused on this in the stress tests and other supervisory processes underway. "We have decided to send banks, starting in September, a request for information on a weekly basis, in order to have fresher data that will allow us to better monitor liquidity developments," Enria said. Currently banks are required to provide liquidity information to the ECB on a monthly basis.

Persons: Milano Finanza, Andrea Enria, Enria, Intesa, Francesca Landini, Clelia Organizations: MILAN, European Central Bank, ECB, Thomson Locations: Italy

☆ ECB to ask banks to provide weekly liquidity data to monitor their health - Enria
▼ + stars: | 2023-07-22 | by ( ) www.reuters.com time to read: +1 min

Persons: Milano Finanza, Andrea Enria, Enria, Intesa, Francesca Landini, Clelia Organizations: MILAN, European Central Bank, ECB, Thomson Locations: Italy

☆ Travel news: US airline staffing at ‘highest level’ in decades – so why the flight delays?
▼ + stars: | 2023-07-22 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +5 min

Editor’s Note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. Extreme weatherHeat waves, wildfires, floods and storms have been hitting regions across North America, Europe and Asia. Air travel woesUS passenger airline employment is now at its highest level in over two decades, says a new statement from the International Air Transport Association (IATA) as carriers build up their workforces to meet the huge demand for post-pandemic travel. However, passengers this summer are still facing “unacceptable delays and disruptions” because of a shortage of air traffic controllers in North America. If all this has got you wistful for a bygone “golden age of air travel,” however, you’d be very wrong.

Persons: you’d, we’ve, Jay Khan, Janet Yellen’s, jian, Yellen, Liesbet Collaert, she’d, Christina Ward, Wahid Kandil, you’re, they’ve Organizations: CNN, Southern, International Air Transport Association, US Federal Aviation Administration, FAA, NAV Canada, US Locations: North America, Europe, Asia, Italy, Southern Europe, Ireland, Denmark, Bulgaria, Czech Republic, Las Vegas, Chicago, Hong Kong, Beijing, Yunnan, Belgian, California, Egypt, Barra, American, Paris

☆ King Charles III to receive bumper pay rise after a shake-up of the British royal family’s finances
▼ + stars: | 2023-07-21 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

LONDON — The amount of money given to the British royal family by the U.K. government is projected to "increase significantly" in the coming years, according to the latest review of the annual Sovereign Grant. Despite the percentage cut, an unexpected surge in profits means the royal family is poised to receive more money than in previous years. The portfolio is worth a total of £16 billion ($20.5 billion), according to the crown estate, and generated "substantial additional income" from the offshore wind facilities owned by the royal family. The sovereign grant, which is based on profits generated two years before the financial year in question, was worth £86.3 million this year — unchanged from the year before. At the new 12% formula, this means the monarchy could receive £124.8 million in 2025 to 2026 and £126 million the following year.

Persons: Sovereign Grant Organizations: Sovereign, Treasury

Pentagon officials had widely expected the nomination to go to Admiral Samuel Paparo, who leads the Navy in the Pacific and who has experience grappling with the growing challenge from China. "Throughout her career, Admiral Franchetti has demonstrated extensive expertise in both the operational and policy arenas," Biden said in a statement, noting that she was the second woman ever to achieve the rank of four-star admiral in the U.S. Navy. Last year, Biden picked Admiral Linda Fagan to lead the U.S. Coast Guard, making her its first female commanding officer. Franchetti would become the first woman to lead a military service within the Defense Department and to join the Joint Chiefs of Staff, a group of eight top uniformed service members who advise the president on military issues. Biden also elevated Paparo, nominating him to become the commander of all U.S. military forces in the Pacific.

Persons: Andrew Kelly, Joe Biden, Lisa Franchetti, Biden, Samuel Paparo, Franchetti, Admiral Franchetti, Linda Fagan, Stephen, Koehler, Paparo, Tommy Tuberville, Charles " C.Q, Brown, Tuberville, Steve Holland, Phil Stewart, Jasper Ward, Rami Ayyub, Sharon Singleton, Rosalba O'Brien Organizations: U.S . Marines, U.S . Navy, U.S . Navy Wasp, Fleet, REUTERS, WASHINGTON, Navy, Joint Chiefs, Staff, Pentagon, Pacific, U.S . Naval Forces Korea, U.S . Coast Guard, Department of Defense, Department of Homeland Security, Defense Department, Joint Chiefs of Staff, U.S . Pacific Fleet, Senate, Air Force, Marine Corps, United States Armed Forces, Thomson Locations: U.S, Bataan, New York, China

ORLANDO, Florida, July 20 (Reuters) - Chinese stocks have traded at a discount to global peers for over a decade but have rarely been cheaper than they are now. The fact that U.S. equities are more expensive than Chinese stocks is nothing new. At minimum, investors will need clearer evidence of a turnaround in China's economic and market conditions before moving back into its equities in any great size. The era of double-digit annual GDP growth looks to be over, and challenges are multiple and mounting. Nominal annual GDP growth of 4.8% in the second quarter was lower than real GDP growth of 6.3%, a huge deflation red flag.

Persons: Goldman Sachs, China's, Zhang Zhiwei, Zhang Dandan, Jamie McGeever, Jamie Freed Organizations: Nasdaq, NYSE, Monetary Fund, Citi, Bank of America, Societe Generale, Peking University, Wall, Reuters, Thomson Locations: ORLANDO, Florida, China, United States, U.S, Beijing, India

☆ MLB: Chicago White Sox at New York Mets
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +10 min

Cardinals starter Dakota Hudson allowed two runs on five hits in three innings. Marlins starting pitcher Sandy Alcantara (3-9) allowed four runs on eight hits and two walks in six innings. Red Sox starter Brayan Bello (7-6) took the loss, pulled after allowing all six Oakland runs and five hits in four innings. Mets 5, White Sox 1Justin Verlander tossed eight solid innings and Brett Baty homered for a second straight game as host New York beat Chicago. Nick Castellanos hit a solo home run and Kyle Schwarber added a two-run single for the Phillies, who had their four-game winning streak end.

Persons: Chase Silseth, Gary A, Vasquez, Taylor Ward, Luis Rengifo, Carlos Rodon, Giancarlo Stanton, Franchy Cordero, Rodon, Nolan Gorman, Louis, Gorman, Dakota Hudson, Zack Thompson, Chris Stratton, Sandy Alcantara, JJ Bleday, Cody Thomas, Jace Peterson, Lucas Erceg, Angel Felipe, Sam Long, Trevor, Brayan Bello, Yu Darvish, Manny Machado, Steven Wilson, Nick Martinez, Josh Hader, Jose Berrios, Justin Verlander, Brett Baty, Baty, Francisco Alvarez, Luis Guillorme, Brandon Nimmo, Luis Robert Jr, Touki Toussaint, Ryne Nelson, Nick Ahmed, Christian Walker, Marcell Ozuna, Austin Riley, Charlie Morton, Jonah Heim, Jon Gray, Gray, Man Choi, Jared Triolo, Jack Suwinski, Nick Gonzales, Ryan Borucki, Josh Bell, Amed Rosario, Sam Hentges, Ramon Urias, Gunnar Henderson, Urias, Henderson, Danny Coulombe, Felix Bautista, Max Muncy, James Outman, Julio Urias, Chas McCormick, Jake Meyers, Brandon Bielak, C.J . Cron, Austin Gomber, William Contreras, Blake Perkins, Hoby Milner, Nick Castellanos, Kyle Schwarber, Jeff Hoffman, Will Benson, Graham Ashcraft, Ashcraft, Blake Sabol, Ross Stripling, Miguel Cabrera, Eduardo Rodriguez, Cabrera's, Detroit's Javier Baez, Riley Greene, Rodriguez, Jason Foley, Alex Lange, Kansas City's Ryan Yarbrough, Nico Hoerner's, Mike Tauchman, Yan Gomes, Mason Thompson, Cory Abbott, Trevor Williams, Max Kepler, Edouard Julien, Alex Kirilloff, Kenta Maeda, Emilio Pagan, Jhoan Duran, Tom Murphy, Eugenio Suarez, Andres Munoz Organizations: Los Angeles Angels, New York Yankees, Angel, Wednesday, Triple, Angels, Yankees, Cardinals, Marlins, Dakota, Athletics, Red Sox, Oakland, Boston, Padres, Blue Jays, San Diego, Toronto, Jays, Mets, White Sox, New York, Chicago, Atlanta Braves, Diamondbacks, Braves, Atlanta, Arizona, Rangers, Rays, Tampa Bay, The Rangers, American League East, AL West, Pirates, Pittsburgh, Cleveland, Guardians, Orioles, Dodgers, Astros, Rockies, Houston, Colorado, Austin, Brewers, Phillies, Four Brewers, Reds, Giants, Cincinnati, San, The Reds, Milwaukee Brewers, Tigers, Royals, Detroit, Kansas City, cramp, Cubs, Washington, Mariners, Minnesota, Twins, Thomson Locations: Anaheim , California, USA, Anaheim , Calif, Silseth, Miami, Toronto, Arizona, Texas, Baltimore, Los Angeles, Angeles, Denver, Colorado, C.J, Milwaukee, Philadelphia, San Francisco, Kansas, Chicago, Seattle

☆ Microsoft, Activision urge U.S. to drop case against deal before internal FTC judge
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +1 min

read moreIn Washington, the FTC has been pursuing a two-pronged attack against the proposed transaction. One was in district court, which refused last week to slap a preliminary injunction on the proposed transaction. An appeals court also turned down a request for the deal to be paused. The second is before an FTC administrative law judge, where a trial is to begin on Aug. 2. Reporting by Diane Bartz and Jasper Ward; Editing by Tim Ahmann and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Diane Bartz, Jasper Ward, Tim Ahmann, Stephen Coates Organizations: Microsoft, Activision, U.S . Federal Trade Commission, FTC, Thomson Locations: Washington

The forceful antitrust posture is a pillar of President Biden’s agenda to stamp out economic inequality and encourage greater competition. “Promoting competition to lower costs and support small businesses and entrepreneurs is a central part of Bidenomics,” a senior administration official said in a call with reporters. The agency has accused Meta of buying Instagram in 2012 and WhatsApp in 2014 to prevent future competition. These so-called network effects have helped companies like Meta and Google maintain their dominance in social media and internet search. The agencies also laid out ways in which mergers involving “platform” businesses, the model used by Amazon’s online store and Apple’s App Store, could harm competition.

Persons: Biden’s, ”, Mr, Kanter, “ Organizations: “, Meta, Justice, Google Locations: Bidenomics, WhatsApp

Kin Cheung | Pool | Getty ImagesLONDON — Two countries are jockeying for position as Europe's capital for artificial intelligence. So, who is leading the race to take Europe's AI crown? The European Union has its AI Act, which is set to be the first comprehensive set of laws focusing on artificial intelligence in the West. In contrast the EU's AI Act could make France "less attractive" for investment in artificial intelligence given that it lays down "a burdensome regulatory regime" for AI, Tanna said. Alexandre Lebrun, CEO of Nabla, an AI "copilot" for doctors, said the U.K. and France are "probably even" when it comes to attractiveness for starting an AI company.

Persons: Rishi Sunak, Emmanuel Macron, Kin Cheung, Macron, Karen Tso, Sunak, it's, Sajid Javid, Boris Johnson's, Simmons, Tanna, Anton Dahbura, Alexandre Lebrun, Lebrun, who've, Keir Starmer Organizations: British, Viva Tech, London Tech, Microsoft, U.S, CNBC, supercomputing, European Union, Johns Hopkins Institute, Autonomy, Google, Facebook, EU, Labour Locations: Europe, China, VivaTech, Paris, France, U.S, West, Germany, London

☆ Tropical Storm Calvin threatens to bring heavy rainfall and dangerous coastal surf to the Hawaiian islands
▼ + stars: | 2023-07-18 | by ( Taylor Ward | ) edition.cnn.com time to read: +1 min

CNN —Hawaii’s Big Island is under a tropical storm warning as Tropical Storm Calvin is forecast to pass over or just south of the island, threatening to bring dangerous coastal surf, heavy rain and gusty winds to the area, according to the National Hurricane Center. Calvin is expected to remain a weak tropical storm as it swiftly presses westward and passes by the state. The heavy rainfall poses the most significant threat, prompting flood watches for the islands of Maui, Molokai, Lanai, Kahoolawe and the Big Island from Tuesday evening through Wednesday afternoon. Heavy rain and isolated thunderstorms will reach the Big Island by Tuesday evening, and continue through the night. Flash flooding is the primary threat, especially for Big Island.

Persons: CNN —, Storm Calvin, Calvin Organizations: CNN, National Hurricane Center, National Weather Service, Big Locations: Hilo, Maui, Molokai, Lanai, Honolulu

☆ Harrods is opening an ultra-exclusive members club in Shanghai that costs from $21,000 a year and is limited to 250 people
▼ + stars: | 2023-07-18 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

Harrods is opening an exclusive member's club in Shanghai that costs from $21,000 yearly. Harrods announced Tuesday that it will open a new private member's club in Shanghai at the end of 2023 in a bid to appeal to the country's ultra-rich consumers. The company's managing director Michael Ward told Bloomberg that these shoppers made up 16% of Harrods' sales in 2022. "We always knew that shopping would go back to China," Ward told Bloomberg. According to estimates from Business of Fashion, Chinese luxury spending is expected to reach $107 billion by 2025.

Persons: Gordan Ramsay's, Gordon Ramsay's, Michael Ward, Ward Organizations: Harrods, Service, Harrods Tea, Scottish, Edrington Group, Bloomberg, Business of Fashion Locations: Shanghai, British, Harrods, Wall, Silicon, China, Cha

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