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☆ New professional women's league set to launch in 2024
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Julia Nikhinson/File PhotoJune 30 (Reuters) - A new professional women's ice hockey league will launch in January 2024, bringing together the world's best players in a unified league, it was announced on Friday. News of the league ends a long-running divide between the Professional Women's Hockey Players Association (PWHPA) and the seven-team Premier Hockey Federation (PHF). Established in 2015 as the National Women's Hockey League, the NWHL rebranded to become the PHF in 2021 and its teams competed each year for the Isobel Cup. The deal has also grabbed the attention of the National Hockey League (NHL), which has long said it would not provide fiscal support so long as there were two competing leagues. "The National Hockey League congratulates the Professional Women's Hockey Players' Association and the Premier Hockey Federation on their agreement," the NHL said in a statement.

Persons: Billie Jean King, Biden, Narendra Modi, Julia Nikhinson, Mark Walter, Kemba, Walter, King, Kendall Coyne Schofield, Frank Pingue, Ken Ferris Organizations: India's, White, REUTERS, Professional, Hockey Players, Premier Hockey Federation, Major League Baseball's Los Angeles Dodgers, National Women's Hockey League, Canadian, Women's Hockey League, National Hockey League, Players, Association, NHL, Thomson Locations: Washington , U.S, Toronto

Bob Pickard, a Canadian national and former global communications chief for the AIIB, announced his resignation in a scathing social media post on Wednesday. The AIIB earlier on Wednesday said it had accepted Pickard's resignation and called his comments "baseless and disappointing. China's foreign ministry and Canada's embassy in China did not immediately respond to requests for comment. China is an important member of the AIIB and has always followed multilateral rules and procedures, the embassy said. The clash marks a new dip in bilateral relations between Canada and China, which have been frosty for the last five years.

Persons: Bob Pickard, Xi Jinping, AIIB, Pickard, I've, Michaels, Chrystia Freedland, Laurie Chen, John Geddie Organizations: Infrastructure Investment Bank, Chinese Communist Party, Canadian, World Bank, Reuters, Communist, Party, Canadian Finance, Ottawa, Beijing, Thomson Locations: BEIJING, Beijing, Ottawa, Canada, Japan, China, China's, Canadian, Shanghai, Toronto, Lincoln

☆ China’s world banks are geopolitical victims
▼ + stars: | 2023-06-15 | by ( Una Galani | ) www.reuters.com time to read: +4 min

MUMBAI, June 15 (Reuters Breakingviews) - China’s “World Bank” tried in vain to carefully thread the geopolitical needle. Fairly or not, critics have lambasted China’s lending practices along the BRI as “debt trap diplomacy”. Whereas the smaller AIIB did things more the way developed countries wanted, even taking positions at odds with Beijing’s. Pickard alleged on Twitter that AIIB was an instrument of China, dominated by Communist party members who “operate like a secret police”. The AIIB said the comments by Pickard, who had served in his role since March 2022, were “baseless and disappointing”.

Persons: Bank ”, Bob Pickard, Jin Liqun, Pickard, AIIB, Chrystia Freeland, Pete Sweeney, Thomas Shum Organizations: Reuters, Bank, Infrastructure Investment Bank, Twitter, Communist Party, World Bank, Initiative, Beijing, International Monetary Fund, New Development Bank, Canadian, Communist, Department of Finance, Finance, Thomson Locations: MUMBAI, Canada, Beijing, India, France, Asia, Africa, Latin America, Argentina, Pakistan, Russia, Ukraine, China, Ottawa, Shanghai, Saudi Arabia

☆ Former Canadian soldier extradited to Thailand over gang killing
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +2 min

"The deceased is connected with the United Nation Gang and was linked to the murder of one of the leaders of another gang, called the Red Scorpion, in Canada," Jirabhop said. The extradition involved a Thai air force flight after commercial airlines declined requests for transport over safety concerns, Thai police said. "We have ensure that there is security in Thailand and uphold our reputation that this country is safe to live in," she said. An Alberta court approved the extradition of Dupre last December. Reporting by Juarawee Kittisilpa and Napat Wesshasartar; Writing by Chayut Setboonsarng; Editing by Mike HarrisonOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. mountaineer climbs rare Everest 'triple crown' as death toll reaches 12
▼ + stars: | 2023-05-26 | by ( Gopal Sharma | ) www.reuters.com time to read: +2 min

KATHMANDU, May 26 (Reuters) - A renowned U.S. mountain guide has achieved the rare Mount Everest region "triple crown" of climbing the Everest, Lhotse and Nuptse peaks in one season, a hiking firm said on Friday, as the season's death toll on the world's highest mountain hit 12. Madison, who owns the company Madison Mountaineering based in Seattle, climbed the smaller but technically difficult Nuptse peak, at 7,855 metres (25,770 feet), on May 8. British climber Kenton Cool, who climbed the triple crown in 2013, said Garrett was an "unflappable expedition leader" who quietly goes about his job. Cool, 49, last week set a new record of 17 summits of Everest, the world's highest peak, by a foreign climber. A Nepali, Kami Rita Sherpa, this week climbed Everest for a 28th time, the most by any mountaineer.

☆ Binance pulls out of Canada amid new crypto regulations
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: +2 min

May 12 (Reuters) - Binance said on Friday it was withdrawing from Canada, weeks after the country issued a series of new guidelines for cryptocurrency exchanges including investor limits and mandatory registrations. Canada has tightened regulations for crypto asset trading platforms in recent months, with the introduction of a pre-registration process. The companies that do not adhere to the rules will face potential enforcement action, according to the website of the Ontario Securities Commission. "Unfortunately, (the) new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable for Binance at this time," crypto exchange Binance said in a tweet. Binance said it does not agree with the latest guidance and hopes to engage with the Canadian regulators to create a comprehensive framework for crypto operations in the country.

☆ Amazon just poached a longtime Meta veteran to lead its growing adtech division
▼ + stars: | 2023-05-04 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +2 min

Amazon Advertising has hired Kelly MacLean as its VP of its ad buying platform. MacLean, who joined Amazon late last month, previously spent more than 11 years at Meta. Amazon Advertising has poached a longtime Meta executive to lead a key adtech division, Insider has learned. The Amazon DSP uses automation to let advertisers buy ads on Amazon properties like Amazon.com, Twitch, and IMDb, as well as elsewhere on the web. The Amazon DSP recently underwent an overhaul that was 18 months in the making to improve its machine-learning and predictive algorithms.

CNN —Canada has told its citizens in Sudan that evacuations are “not possible at this time” due to the closure of airspace amid fierce fighting between rival forces. Earlier on Saturday, Saudi Arabia said it had evacuated Canadian nationals from Sudan to Saudi Arabia. However, the Saudi Ministry of Foreign Affairs did not provide the number of Canadians it had helped to evacuate. There are 1,596 Canadians signed up to the Registration of Canadians Abroad Service in Sudan but this number provides only an estimate of Canadians in Sudan as registration is voluntary. Canadian citizens can register through the Registration of Canadians Abroad service on the Travel.gc.ca site.

☆ Another cultish cost-saving formula gets off-track
▼ + stars: | 2023-03-29 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +9 min

Despite its multiple interpretations and approaches, success is widely gauged by a railway’s operating ratio, a simple measure of how much it spends to make a buck. Union Pacific’s peers improved similarly, indicative of the antiquated ways the industry had been deploying resources. Union Pacific also found itself unable to bring back enough furloughed workers in areas where they were most needed. “In a significant departure from the railroad industry's recent past, we deliberately moved away from a singular focus on operating ratio,” he told lawmakers. “If we wanted to drive [operating ratio] lower over time, we could,” the board wrote in a letter to shareholders in late 2021.

☆ Jonathan Hirtle launched his $18 billion firm in the wake of the 1987 market crash. He told us what he's holding for the long haul, and what's different about the current bank crisis.
▼ + stars: | 2023-03-23 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

Hirtle also discussed how he's investing clients' money and his long-term market views. Hirtle told Insider that the bank failures of 2023 are very different from what he saw in 1987, or in 2008. So Hirtle says he is concentrating on the long term, and that he prefers the US to other regions. Still, he says that global diversification, and diversification across stocks, bonds, and private equity is important for the long term. In the 2010s bull market, stocks rose about 400% in a little under 11 years.

☆ Norfolk Southern shareholders sue over Ohio derailment
▼ + stars: | 2023-03-17 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

March 17 (Reuters) - Norfolk Southern Corp (NSC.N) shareholders have accused the railroad of defrauding them by prioritizing profit over safety prior to last month's derailment of a train carrying hazardous chemicals in East Palestine, Ohio. A Norfolk Southern spokesman declined to comment, saying the Atlanta-based company does not discuss pending litigation. Norfolk Southern has faced many lawsuits over the Feb. 3 derailment, including cases brought by local residents and Ohio's attorney general. Six of the seven largest U.S. freight railroads use Precision Scheduled Railroading: Norfolk Southern, Canadian National, Canadian Pacific, CSX, Kansas City Southern and Union Pacific. The case is Bucks County Employees Retirement System v Norfolk Southern Corp et al, U.S. District Court, Southern District of Ohio, No.

☆ U.S. Senate leader Schumer urges federal safety probe into all major freight railroads
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, March 15 (Reuters) - U.S. Senate Majority Leader Chuck Schumer on Wednesday urged the National Transportation Safety Board to launch an investigation into safety practices of all seven major freight railroads, following the East Palestine, Ohio derailment. The companies, in addition to Norfolk Southern, are BNSF Railway, CSX, Union Pacific, Canadian National, Canadian Pacific, and Kansas City Southern, Schumer said in a letter to the agency. On Feb. 3, a Norfolk Southern train carrying hazardous materials derailed in East Palestine, Ohio, resulting in the release of over 1 million gallons of harmful pollutants. "Norfolk Southern isn't the only rail company that has spent years lobbying to loosen regulations, neglect safety upgrades and lay off workers," Schumer said. Last week, Norfolk Southern CEO Alan Shaw testified to a Senate hearing and is set to appear at another March 22 rail safety Senate hearing.

☆ Schumer pushes National Transportation Safety Board to expand rail safety probe beyond Norfolk Southern
▼ + stars: | 2023-03-15 | by ( ) www.cnbc.com time to read: +3 min

Senate Majority Leader Chuck Schumer, D-N.Y., on Wednesday urged the National Transportation Safety Board to broaden its rail safety investigation beyond Norfolk Southern to other large rail companies after last month's derailment in East Palestine, Ohio. Hours before Norfolk Southern CEO Alan Shaw appeared at a congressional hearing last week about the Ohio derailment, another of the company's trains derailed in Calhoun County, Alabama. It was the third derailment involving Norfolk Southern since last month. They can tell us how many fatalities there were — 2,768 — but not why or if company policies could have prevented them." The Ohio Attorney General's office on Tuesday sued Norfolk Southern in federal court, alleging it was negligent for causing the derailment.

☆ Norfolk Southern and Other Freight Railroads Agree to Join Federal Close-Call Reporting System
▼ + stars: | 2023-03-03 | by ( Esther Fung | ) www.wsj.com time to read: 1 min

The East Palestine, Ohio, train derailment has led to more scrutiny of railroad safety practices. Norfolk Southern Corp. and its rivals said Thursday they have agreed to join a federal system that lets employees confidentially report close calls, a program the biggest freight railroads had refused to join for years. Transportation Secretary Pete Buttigieg on Monday had asked the chief executives of the seven so-called Class 1 railroads— Union Pacific Corp., Norfolk Southern, BNSF Railway, CSX Corp., Canadian Pacific Railway Ltd., Canadian National Railway Co. and Kansas City Southern—to join the Federal Railroad Administration’s close-call reporting system.

☆ Union Pacific shares rise after CEO Fritz to step down amid investor pressure
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

Feb 27 (Reuters) - Shares of Union Pacific Corp (UNP.N) surged nearly 10% before the bell on Monday, a day after the U.S. railroad operator announced that its Chief Executive Lance Fritz would step down this year amid pressure from investor Soroban Capital Partners. The gains came after some Wall Street analysts backed the leadership change at the company, which has struggled with labor shortages and service issues. Union Pacific's shares have dropped more than 25% over the past 10 months. Other analysts said a new leadership has the potential to improve the company's operating ratio — a key profitability metric. In its most-recent quarter, the company flagged higher operating expenses caused by operational inefficiencies and the current economic environment hitting its revenue growth.

☆ Buttigieg urges U.S. railroads to boost safety, not oppose reforms
▼ + stars: | 2023-02-19 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

[1/7] Drone footage shows the freight train derailment in East Palestine, Ohio, U.S., February 6, 2023 in this screengrab obtained from a handout video released by the NTSB. Buttigieg said he would soon outline specific safety improvements railroads should take immediately. He harshly criticized them for lobbying against steps "intended to improve rail safety and to help keep Americans safe." Buttigieg said he also planned to outline "prioritized actions planned" by the U.S. Department of Transportation on rail safety. In response to the derailment, U.S. Senate Commerce Committee Chair Maria Cantwell Friday opened an inquiry into railroad hazardous materials safety practices.

☆ U.S. senator asks railroad CEOs to answer questions on hazardous shipments
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Feb 17 (Reuters) - U.S. Senate Commerce Committee chair Maria Cantwell said on Friday she was opening an inquiry into railroad hazardous materials safety practices after a Feb. 3 Ohio derailment of a train operated by Norfolk Southern (NSC.N) raised new concerns. Cantwell wrote the chief executives of Norfolk Southern, Burlington Northern Santa Fe (BNSF), Canadian National (CNR.TO), Canadian Pacific (CP.TO), CSX (CSX.O), Kansas City Southern, and Union Pacific (UNP.N) seeking information to help determine how to improve safety. "Every railroad must reexamine its hazardous materials safety practices to better protect its employees, the environment, and American families and reaffirm safety as a top priority," Cantwell wrote. Reporting by David Shepardson; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

The derailment of the train, operated by Norfolk Southern (NSC.N), forced thousands of residents to evacuate while railroad crews drained and burned off chemicals. “We have mobilized a robust, multi-agency effort to support the people of East Palestine, Ohio," White House spokesperson Karine Jean-Pierre said at a briefing. [1/3] A view of a caution tape as members of the U.S. Environmental Protection Agency (EPA) (not pictured) inspect the site of a train derailment of hazardous material in East Palestine, Ohio, U.S., February 16, 2023. DeWine called on Congress to review railroad safety regulations, lamenting states have little power to demand information about what types of hazardous goods are rolling through their borders. Transportation Secretary Pete Buttigieg said Thursday more needs to be done to address rail safety in the face of hundreds of annual train derailments.

☆ TSX ends lower for second day as industrials slide
▼ + stars: | 2023-01-25 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 29.95 points, or 0.2%, at 20,599.60, adding to a small decline on Tuesday. "We expect them to be on pause for quite a while," said Tom O'Gorman, director of fixed income at Franklin Templeton Canada. Industrials fell 2.1%, with Canadian National Railway Co (CNR.TO) down 4.7% after the company forecast lower 2023 earnings. U.S. crude oil futures settled 2 cents higher at $80.15 a barrel after a smaller than expected build in U.S. crude inventories. Shopify Inc (SHOP.TO) was a bright spot, rising nearly 11% after the e-commerce company updated its pricing plan.

☆ Stocks making the biggest moves after hours: Microsoft, Texas Instruments, Capital One & more
▼ + stars: | 2023-01-24 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Capital One — The financial stock dipped more than 1% in extended trading after the company posted an earnings miss. Texas Instruments — The chip stock rose under 1% in extended trading after the company reported quarterly results that came in above expectations. Texas Instruments reported earnings of $2.13 per share, beating expectations of $1.98 per share, according to FactSet. Canadian National Railway — Canadian National Railway saw its shares dip more than 4% in extended trading, even as its quarterly results beat expectations. The company reported an EPS of 2.10 in Canadian dollars, compared to FactSet's estimate of C$2.08.

☆ Get ready for a deluge of data next week that will shape the Fed's next moves
▼ + stars: | 2023-01-21 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Within the portfolio, we'll get the latest earnings from Danaher (DHR), Halliburton (HAL), and Johnson & Johnson (JNJ) on Tuesday before the opening bell. While the results will be important as always, we are most interested in the earnings call with analysts and investors. Housing Starts fell 1.4% in December to a seasonally adjusted annual rate of 1.38 million, slightly above the 1.36 million expected. Building permits dropped 1.6% in December to a seasonally adjusted annual rate of 1.33 million, below expectations of 1.37 million. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Earnings could keep the market on edge in week ahead as investors wait for Fed
▼ + stars: | 2023-01-20 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

I do think that will happen even more in the week ahead as the Fed is in a blackout period. S & P Global PMI data is released for both services and manufacturing Tuesday. "The market continues to think the Fed does not have to administer as much medicine as the Fed tells us they plan to. Earnings, earnings, earnings Stocks were lower in the past week, with the S & P 500 off by 1.8%. "It's a mild earnings recession, but it's an earnings recession.

☆ UK's Prince Harry: I want my father and brother back
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] Britain's Charles, Prince of Wales (C), Britain's Prince William, Duke of Cambridge (R) and Britain's Prince Harry visit the Canadian National Vimy Memorial during a commemoration ceremony to mark the 100th anniversary of the Battle of Vimy Ridge, in Vimy, near Arras, northern France, on April 9, 2017. REUTERS/Philippe Huguen/POOLLONDON, Jan 2 (Reuters) - Britain's Prince Harry said his troubled relationship with the royal family "never needed to be this way" and he wants to get his father King Charles and his brother "back", in an excerpt from an interview with broadcaster ITV released on Monday. "I would like to get my father back; I would like to have my brother back." They have since criticised how they were treated as members of the royal family, including an accusation by Harry that his brother William, Prince of Wales, screamed at him during a meeting to discuss his future. Both interviews will be broadcast on Jan. 8, two days before publication of Harry's autobiography titled "Spare".

☆ How the smart money got fooled by Sam Bankman-Fried: Here's what happened to 2 hedge funds and a trader.
▼ + stars: | 2022-11-14 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +8 min

3 traders tell what drew them to FTX and how they now have money stuck inside it. Wintermute, a large crypto trading firm, stopped trading on FTX, but still had some funds stuck on the US exchange, CoinDesk reported. The three traders who spoke to Insider all acknowledged having some amount of money stuck inside FTX, despite some pretty sophisticated risk management strategies. FTX's collapse was precipitated when FTX sent billions of dollars to Alameda to cover losses, The Wall Street Journal reported. Bankman-Fried may now face charges for wire fraud, the Wall Street Journal reported this week after talking with securities lawyers about how the US laws might apply.

☆ Key freight rail union BMWED extends deadline for strike that threatens U.S. economy
▼ + stars: | 2022-11-09 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

The Brotherhood of Maintenance of Way Employees Division, the third largest rail union in the country, is extending its status quo period (no strike, no lockout) during which it wants to continue negotiations with the freight rail carriers. Meanwhile, two major rail unions are set to vote on ratifying the deal on Nov. 21: The Brotherhood of Locomotive Engineers and Trainmen, and the Smart Transportation Division. The rail industry has previously estimated the cost to the economy of a rail strike at $2 billion per day. The BMWED was the first rail union to vote against ratification of a labor agreement negotiated in conjunction with Biden's PEB. All 12 labor unions must ratify a labor agreement to avoid the potential for a nationwide rail shutdown.

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