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Russian opposition leader Alexei Navalny attends a rally in support of political prisoners in Prospekt Sakharova Street in Moscow, Russia on September 29, 2019. Sefa Karacan | Anadolu | Getty ImagesWorld leaders and the wife of prominent Russian opposition leader Alexei Navalny reacted with dismay and suspicion to reports of the Kremlin critic's death in a Siberian penal colony. Yulia Navalnaya, Navalny's wife, was greeted on Friday with a standing ovation as she addressed the Munich Security Conference. "Alexei Navalny has been a strong voice for freedom, for democracy, for many years, and NATO and NATO allies have called for his immediate release for a long time." "We'll be talking to the many other countries concerned about Alexei Navalny, especially if these reports bear out to be true."

Persons: Alexei Navalny, Sefa, Yulia Navalnaya, Navalnaya, Vladimir Putin, Putin, …, Kai Pfaffenbach, Wagner, Yevgeny Prigozhin —, Navalny's, Navalny, Kamala Harris, Washington, Jens Stoltenberg, Yulia Morozova, Ursula von der Leyen, von der Leyen, Antony Blinken, Rishi Sunak, Olaf Scholz Organizations: Anadolu, Getty, Munich Security, Reuters, Ministry, Munich, NATO, IK Locations: Moscow, Russia, Munich, Germany, Vladimir, Russian

☆ Labour opposition deals another historic blow to UK PM Rishi Sunak with by-election defeats
▼ + stars: | 2024-02-16 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Winning candidate Gen Kitchen said the result was a "stunning victory for the Labour Party and must send a message from Northamptonshire to Downing Street." LONDON — U.K. Prime Minister Rishi Sunak's ruling Conservative Party suffered another double by-election defeat on Thursday, as the opposition Labour Party's momentum shows no sign of slowing. The double defeat of Thursday was the latest in a string of unfavorable by-election results for the ruling party in what were previously considered safe seats. "I was very pleased last night to see that we were clearly getting Tory switchers, in other words people who hadn't voted for the Labour Party before, coming out last night and voting for the Labour Party in a by-election." The Labour Party maintains a lead of more than 20 points over the Conservatives in all national polling, with a general election due no later than January 2025.

Persons: Kitchen, Peter Bone, —, Rishi Sunak's, Helen Harrison, Gen Kitchen, Chris Skidmore, Damien Egan, Keir Starmer, Tory switchers, hadn't, Boris Johnson, Robert Ford Organizations: Labour, Labour Party, Downing, Conservative, Conservatives, LONDON, Conservative Party, Kettering Leisure Village, Tamworth, Liberal Democrats, BBC, University of Manchester, CNBC Locations: Northamptonshire, Wellingborough , Northamptonshire, KETTERING, England, Wellingborough, Kettering, Kettering , England, Kingswood , South Gloucestershire, North, Kingswood, Mid Bedfordshire, West Midlands, Selby, Ainsty, Somerton, Frome

☆ Jeep, Dodge-maker Stellantis' profit slides as Detroit Three strikes bite
▼ + stars: | 2024-02-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

(L-R) United Auto Workers (U.A.W.) members Kaleb Delfine, Bryan Broecker, Michael Gatto and James Triplett picket outside the Jeep Plant on September 18, 2023 in Toledo, Ohio. Global auto giant Stellantis on Thursday reported a 10% year-on-year fall in profit in the second half of 2023, as six-week strikes at the so-called "Detroit Three" automakers hampered production in the group's North American profit epicenter. Adjusted operating income (AOI) came in at 10.2 billion euros ($10.96 billion) for the July to December period, down from 11.3 billion euros for the same period in 2022. Stellantis reported in late October that labor strikes by the United Auto Workers union, which ran for six weeks from Sept. 15 and also targeted General Motors and Ford Motor , cost the company $3.2 billion in revenue through October.

Persons: Kaleb Delfine, Bryan Broecker, Michael Gatto, James Triplett, Stellantis Organizations: United Auto Workers, Jeep, Global, Reuters, Stellantis, United Auto Workers union, Motors, Ford Motor Locations: Toledo , Ohio, American, Europe, North America

☆ UK economy slipped into technical recession at the end of 2023
▼ + stars: | 2024-02-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

LONDON — The U.K. economy slipped into a technical recession in the final quarter of last year, initial figures showed Thursday. Though there is no official definition of a recession, two straight quarters of negative growth is widely considered a technical recession. Across the whole of 2023, the British GDP is estimated to have increased by just 0.1%, compared to 2022. "These factors affected the performance of the services and construction sectors, which are the main drivers of the U.K. "Over the coming months, we expect inflation to fall, potentially easing the pressure on U.K. households, and supporting the recovery of the consumer-driven economy," Brookes added.

Persons: Jeremy Hunt, Marcus Brookes, Brookes, Neil Birrell Organizations: National Statistics, Reuters, Finance, Bank of England, Bank of England's, Quilter Investors, Premier Miton Investors Locations: British

☆ As London loses another listing, analysts are wary of writing off the UK capital
▼ + stars: | 2024-02-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

The offices of London Stock Exchange Group Plc, right, in Paternoster Square in the City of London, UK. Bloomberg | Bloomberg | Getty ImagesLONDON — TUI became the latest company to ditch its share listing in London, as shareholders voted overwhelmingly for the German travel giant to list solely in Frankfurt. Around 77% of transactions in TUI shares are currently settled via Germany, with the U.K. now accounting for less than a quarter. U.K. stocks are trading at a considerable discount to the rest of Europe, having suffered an investor flight in recent years. London still a contender London has also suffered a number of de-listings and high-profile IPO snubs over the past year.

Persons: TUI, Frankfurt's, Mathias Kiep, London, SoftBank, Rishi Sunak's Organizations: London Stock Exchange Group, City of, Bloomberg, Getty, London Stock Exchange, CNBC, Nasdaq Locations: Paternoster, City, City of London, London, Frankfurt, Hannover, Germany, TUI, Europe

A TV presenter gets ready for the daily reporting from the floor of the German share price index DAX at the stock exchange in Frankfurt, Germany, November 15, 2023. LONDON — European markets were set for a lower open Wednesday as investors assessed incoming corporate earnings and inflation prints in both the U.S. and the U.K. The U.K.'s FTSE 100 was predicted to open 15 points lower at 7,492 points, the DAX down 40 points to 16,833 points and France's CAC lower by 15 points to 7,605, according to IG data. Losses deepened after new figures showed U.S. inflation rose by more than expected in January, as stubbornly high shelter prices squeezed consumers. Wednesday will see reporting from several major European businesses, including ABN AMRO and Capgemini.

Persons: DAX Organizations: LONDON, U.S, U.K, CAC, of Labor Statistics, Dow, U.S . Federal, ABN AMRO, Capgemini Locations: Frankfurt, Germany

☆ UK inflation holds steady at 4%, lower than expected
▼ + stars: | 2024-02-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Karl Hendon | Moment | Getty ImagesLONDON — U.K. inflation held steady at 4% year-on-year in January on the back of easing prices for furniture and household goods, food and non-alcoholic beverages. Economists polled by Reuters had produced a consensus forecast of 4.2% year-on-year for January and -0.3% for the month. The CPI goods annual rate slowed from 1.9% to 1.8%, but price pressures in the services industry remained hot, with the CPI services annual rate rising from 6.4% to 6.5%. The U.K. has lagged its peers in bringing down inflation, but the headline CPI has been on a general downward trajectory since the October 2022 peak of 11.1% year-on-year. The labor market and wage growth have meanwhile eased but will remain uncomfortably robust for a central bank aiming to drag inflation back to its 2% target.

Persons: Karl Hendon, Jeremy Hunt, Marion Amiot Organizations: London, Euromonitor International, Karl, Reuters, National Statistics, Bank of England, Finance

☆ Ford facing potential strike of 3,000 UK white-collar workers
▼ + stars: | 2024-02-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

The logo of car manufacturer Ford is pictured in Inwood, New York, on February 5, 2024. LONDON — Ford was warned on Wednesday that more than 3,000 white-collar workers across the U.K. could launch industrial action after union members rejected a pay offer from the U.S. automotive giant. The union warned Ford that if it did not attend negotiations via Acas, the U.K.'s independent conciliation service, it would begin the process of balloting its members on potential strike action. Ford said it has been in pay negotiations with employee representatives since the end of last year, as its previous two-year deal ends. "Whilst trade union members have voted internally at a members vote to reject the company's offer, Ford remains willing to continue dialogue through our established bargaining frameworks on the fair and balanced offer made," the company said.

Persons: Ford Organizations: LONDON, Ford, Workers Locations: Inwood , New York, Acas, Liverpool, Essex

☆ Travel giant TUI smashes earnings expectations as investors decide on London exit
▼ + stars: | 2024-02-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Passengers board on the TUI bus at Palma de Mallorca airport on June 18, 2020 in Palma de Mallorca, Spain. German travel giant TUI on Tuesday posted a quarterly profit of 6 million euros ($6.46 million), defying expectations on the back of upbeat travel demand. For the same quarter last year, Europe's largest travel operator posted a 153 million euro net loss. "In a persistently challenging environment, people's high willingness to travel ensures strong economic development in all areas of the Group." A total of 3.5 million guests travelled with TUI during the three-month reporting period, up from 3.3 million the previous year.

Persons: TUI, Sebastian Ebel, Tui Organizations: Palma de Mallorca, TUI, Deutsche Bank, Deutsche Bank analysts Locations: Palma, Palma de, Spain, TUI, Europe

☆ European markets mixed with earnings, U.S. inflation in focus
▼ + stars: | 2024-02-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

LONDON — European markets were a mixed bag on Tuesday morning, as investors assessed incoming corporate earnings reports and awaited a key U.S. inflation print. The pan-European Stoxx 600 index slipped 0.15% in early trade, with tech stocks shedding 1.3% to lead losses while mining stocks added 0.5%. Headline inflation is expected to come in at 0.2% month-on-month and 2.9% annually, according to economists polled by Dow Jones. The regional Stoxx index has recorded a muted February so far, following a strong end to January. This week will see reporting from several major European businesses, including Heineken, Airbus, Renault, NatWest and Commerzbank.

Persons: DAX, Dow Jones Organizations: LONDON, Japan's Nikkei, Dow Jones Industrial, Federal Reserve, Heineken, Airbus, Renault, NatWest, Commerzbank Locations: Frankfurt, Germany, U.S, London, Europe

☆ Ukraine war live updates: U.S. advances military aid bill; Russia accused of using Musk's Starlink in occupied territories
▼ + stars: | 2024-02-12 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Ukraine sympathizers fly a Ukrainian flag outside as the Senate works through the weekend on a $95.3 billion foreign aid bill with assistance for Ukraine and Israel at the U.S. Capitol on February 11, 2024 in Washington, DC. Senators on Sunday voted to advance a $95 billion aid package to fund Ukraine, Israel and Taiwan, signaling that the vital funding will likely have the votes to pass after prolonged and fraught negotiations. Elsewhere, Ukraine's main military intelligence agency on Sunday accused Russian forces of using Starlink terminals produced by Elon Musk's SpaceX in occupied areas. In a post on X, Musk said any suggestion that SpaceX was selling terminals to Russia was "categorically false." "To the best of our knowledge, no Starlinks have been sold directly or indirectly to Russia."

Persons: Sen, Rand Paul, Elon Musk's, Musk Organizations: U.S, Capitol, Senators, Elon, Elon Musk's SpaceX, Ukrainian, SpaceX Locations: Ukraine, Ukrainian, Israel, Washington , DC, Taiwan, Ky, Starlink, Russia

☆ Musk denies selling Starlink terminals to Russia after Kyiv alleges their use in occupied areas
▼ + stars: | 2024-02-12 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Ukraine's main military intelligence agency accused Russian forces of using Starlink terminals produced by Elon Musk's SpaceX in occupied areas. Starlink has been adamant that its satellite networks have never operated or been marketed in Russia, after its terminals were delivered to Ukraine following the February 2022 invasion, in order to facilitate battlefield communications for Ukrainian forces. "A number of false news reports claim that SpaceX is selling Starlink terminals to Russia. This is categorically false," Musk, who's CEO of SpaceX and Tesla, posted Sunday on the X social media platform, which he also owns. Kyiv's Main Directorate of Intelligence (GUR) claimed Sunday that there was mounting evidence of the equipment being used by Russian forces in the partially occupied eastern Ukrainian region of Donetsk.

Persons: Elon Musk's, GUR Organizations: Elon, Elon Musk's SpaceX, Ukrainian, SpaceX, Tesla, Directorate of Intelligence Locations: Starlink, Russia, Ukraine, Ukrainian, Donetsk

☆ Russia's Wagner Group expands into Africa's Sahel with a new brand
▼ + stars: | 2024-02-12 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Natalia Kolesnikova | Afp | Getty ImagesWagner Group has been replaced by a new entity known as Russia's Africa Corps across its key strongholds in the continent, its new leader has confirmed. The new entity has been subsuming operations in Mali and Libya for several months, and negotiations to establish a Russian military base in the CAR are reportedly underway. watch now"The Africa Corps consists of mercenaries and volunteers, and does not form part of the Russian Armed Forces. It began recruiting in December 2023, and has also included job offers for former Wagner Group mercenaries; it may also recruit local residents," they explained. Russian Deputy Defense Minister Yunus-bek Yevkurov oversaw the creation of the Africa Corps, which is expected to be fully completed by this summer.

Persons: Wagner, Yevgeny Prigozhin, Natalia Kolesnikova, Dmitry Utkin, Anton Yelizarov, Ibrahim Traoré, Piotr Żochowski, Miłosz Bartosiewicz, Yunus, bek Yevkurov, Yevkurov Organizations: Afp, Getty, Wagner, Africa Corps, Central African, Russian National Guard, Russian Federation, Telegram, Centre, Eastern Studies, CAR, Africa, Russian Armed Forces, Wagner Group, CES Locations: MOSCOW, Moscow, Central African Republic, Libya, Mali, Sudan, Burkina Faso, Belarus, Russia, Cossack, Sahel, Russian, Warsaw, Algeria, Africa, Ouagadougou

☆ Ukraine war updates: Putin claims Russia has no interest in wider war; UAE mediates prisoner exchange
▼ + stars: | 2024-02-09 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Russian President Vladimir Putin attends an expanded meeting of the Defence Ministry Board at the National Defence Control Centre in Moscow, Russia December 19, 2023. Russian President Vladimir Putin has claimed Moscow has no interest in expanding the war beyond Ukraine to the likes of Poland and Latvia. Putin made the comments in a two-hour interview with former Fox News host Tucker Carlson and spoke in Russian, with Carlson's team providing the dubbed translation. It was his first interview with an American media outlet since Russia's invasion of Ukraine nearly two years ago. In the translated recording, Putin says he could only imagine a scenario in which Russia would send troops into Poland, a NATO member, if "Poland attacks Russia."

Persons: Vladimir Putin, Putin, Tucker Carlson, Russia Michael McFaul, Evan Gershkovich, — Elliot Smith Organizations: Defence Ministry Board, National Defence Control Centre, Fox News, NATO, U.S, Wall Street, Kremlin, Ukraine, CNBC Locations: Moscow, Russia, Ukraine, Poland, Latvia, American, Crimea, Georgia

☆ Societe Generale posts sharp profit drop as net banking income slides
▼ + stars: | 2024-02-08 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Societe Generale on Thursday reported a sharp decline in fourth-quarter net profit on the back of weaker net banking income, but launched a new 280 million euro ($302 million) share buyback program. The French lender posted a group net income of 430 million euros, slightly above a consensus analyst forecast of 404 million euros, according to LSEG data, but well below the 1.07 billion euros recorded for the final quarter of 2022. It comes after the bank posted posted a group net income of 295 million euros for the third quarter, as resilient investment bank performance offset a sharp downturn in its French retail business. Thursday's result took France's third-largest listed bank's annual net profit to 2.49 billion euros, slightly above analyst expectations of 2.15 billion euros. However, quarterly net banking revenue dropped 9.9% year-on-year to 5.96 billion euros, which the bank attributed largely to a decline in net interest income in French retail, and its private banking and insurance division, along with the negative impacts from unwinding hedges.

Persons: Slawomir Krupa, Krupa, BoursoBank Organizations: Generale, SocGen, Global Banking, Investor Solutions, Retail Banking, Soc Locations: France

☆ Coup juntas threaten to quit West Africa bloc: Here’s what it means for the region — and Russia
▼ + stars: | 2024-02-08 | by ( Elliot Smith | ) www.cnbc.com time to read: +9 min

ACCRA, Ghana - ECOWAS flag with member flags at the second extraordinary summit on the political situation in Burkina Faso, in Accra, Ghana, on February 3, 2022. OUAGADOUGOU, Burkina Faso - Jan. 20, 2023: A banner of Russian President Vladimir Putin is seen during a protest to support the Burkina Faso President Captain Ibrahim Traore and to demand the departure of France's ambassador and military forces. Mali has ruled out leaving WAEMU, while Burkina Faso is considering it. "Mali, Burkina Faso and Niger will likely draw on the extractive sector to improve their weak economies. A recent UN Development Programme report surveyed 5,000 people who had directly experienced a recent coup or unconstitutional change of government, including citizens of Burkina Faso, Chad, Guinea, Mali and Sudan.

Persons: NIPAH DENNIS, Bola Tinubu, Vladimir Putin, Captain Ibrahim Traore, Alex Vines, there'd, Tinubu, Ouattara, —, Vines, Mucahid Durmaz, Verisk Maplecroft, Durmaz, Balima Boureima, insurgencies, Wagner, Niger, specter, Mohamed Bazoum, Rey Byhre Organizations: Getty, Economic, West African States, ECOWAS, Nigerian, Africa, Chatham House, CNBC, Algeria —, West, Cote D'Ivoire, Anadolu Agency, Getty Images, Wagner Group, West African Economic, Monetary Union, CFA, National Council for, UN Locations: ACCRA, Ghana, Burkina Faso, Accra, AFP, Mali, Niger, Sahel, Mauritania, OUAGADOUGOU, Chatham, France, Nigeria, Côte d'Ivoire, Algeria, Malian, Russia, Bamako, Mucahid, West Africa, Togo, Benin, Cote, NIAMEY, NIGER, Niamey, West, U.S, Moscow, WAEMU, Seme, Chad, Guinea, Sudan, The Gambia, Tanzania, Kati

☆ Siemens Energy swings to profit on order surge, sale of Indian stake
▼ + stars: | 2024-02-07 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Siemens Energy swung to profit in its first fiscal quarter on the back of a surge in orders and a one-off gain from selling a stake in its Indian affiliate to parent company Siemens . The German renewables firm reported a 1.58 billion euro ($1.7 billion) net profit, driven by the sale of its 18% stake in India's Siemens Limited for 2.1 billion euros. Siemens Energy posted a 23.9% year-on-year increase in orders to 15.4 billion euros, with a book-to-bill ratio of 2.01, pushing its order backlog to a record high of 118 billion euros. Siemens Energy suffered a tough 2023, as problems with manufacturing faults at Siemens Gamesa forced the parent company to a 4.6 billion euro loss for the fiscal year. "We have just shy of 42 billion in backlog in our Siemens Gamesa business — this is also a record order backlog.

Persons: Siemens Gamesa, Maria Ferraro, Ferraro Organizations: Siemens Energy, Siemens, India's Siemens, Siemens Gamesa, CNBC

☆ The prospect of a united Ireland emerges as a republican leader takes office in Belfast
▼ + stars: | 2024-02-06 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

BELFAST, NORTHERN IRELAND - FEBRUARY 3: First Minister Michelle O'Neill speaks during proceedings of the Northern Ireland Assembly at Stormont on February 3, 2024 in Belfast, Northern Ireland. LONDON — A referendum on Irish reunification could be in the cards within a decade, according to Northern Ireland's first-ever nationalist first minister, who took office at the weekend. Sinn Fein's Michelle O'Neill was appointed as first minister on Saturday, the first Irish nationalist to hold the office since Northern Ireland was founded as a Protestant-majority state in 1921. The island to the west of England is divided in two; Northern Ireland is part of the U.K., whereas its neighbor, the Republic of Ireland, is an independent nation and a member of the European Union. The deal that secured their return includes a contribution of more than £3 billion ($3.8 billion) from the British government for Northern Ireland's public services.

Persons: Michelle O'Neill, Sinn Fein's Michelle O'Neill, Democratic Unionist Party's Emma Little, Pengelly, Sinn Fein Organizations: Northern Ireland Assembly, Stormont, Northern Ireland's, Irish, Democratic Unionist, DUP, European Union, Northern Locations: BELFAST, IRELAND, Belfast , Northern Ireland, Northern, Northern Ireland, England, Republic of Ireland, Republic

☆ UBS beats earnings expectations, announces up to $1 billion share buyback
▼ + stars: | 2024-02-06 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Swiss banking giant UBS on Tuesday narrowly beat fourth-quarter earnings expectations and announced that it would recommence share buybacks worth up to $1 billion in the second half of the year. The group posted a net loss attributable to shareholders of $279 million for the quarter. Analysts polled by LSEG had expected a net loss attributable to shareholders of $372 million. In the third quarter, UBS had posted a bigger-than-expected net loss attributable to shareholders of $785 million — which factored in $2 billion in expenses related to the integration of fallen rival Credit Suisse. UBS shares have made an indifferent start to 2024, closing Monday's trade down 1.5% since the turn of the year.

Persons: LSEG Organizations: UBS, Credit Suisse, Suisse

☆ Stock market in a 'very dangerous' position as jobs and wages run hot, fund manager says
▼ + stars: | 2024-02-05 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

A trader reacts as a screen displays the Fed rate announcement on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 31, 2024. The U.S. stock market is in a "very dangerous" spot as persistently strong jobs numbers and wage growth suggest the Federal Reserve's interest rate hikes have not had the desired effect, according to Cole Smead, CEO of Smead Capital Management. The figures came after Fed Chair Jerome Powell said the central bank would likely not cut rates in March, as some market participants had anticipated. "We know the Fed has raised rates, we know that caused a banking run last spring and we know that's damaged the bond market. The Fed has not affected wage growth, which continues to outpunch inflation as we speak, and I look at the wage growth as a really good picture of inflationary pressures going forward."

Persons: Cole Smead, Nonfarm payrolls, Dow Jones, Jerome Powell, Smead, CNBC's Organizations: New York Stock Exchange, Smead Capital Management, CPI, Wage Locations: New York City, U.S

Crossings in recent weeks are down overall along the entire U.S. border, including areas without such a heavy security presence. The arrival of GOP governors to Eagle Pass rounds out a weekend that has kept the small border city of roughly 30,000 residents in an unwitting spotlight. The number of crossings in Eagle Pass has recently fallen to a few hundred a day. Mexico has bolstered immigration efforts that include adding more checkpoints and sending people from the northern border to southern Mexico. Melissa Ruiz, 30, arrived at the Piedras Negras shelter, across the river from Eagle Pass, along with her four children.

Persons: — Kyle Willis, “ It’s, It’s, ”, Willis, Greg Abbott, Joe Biden's, Joe Biden, Ron DeSantis, Biden, John Modlin, Andrés Manuel López Obrador, Donald Trump, MAGA, Melissa Ruiz, Ruiz, Maria Verza, Mexico City anf Elliot Spagat Organizations: Texas National Guard, Texas Gov, Florida Gov, National Guard, U.S . Border Patrol, Border Patrol, –, U.S . Biden, Eagle, AP, Associated Locations: PIEDRAS NEGRAS, Mexico, U.S, Texas, Grande, Eagle, Piedras Negras, Park, Tucson , Arizona, Mexican, Rio Grande, Central America, Ecuador, Peru, Honduran, Piedras, Mexico City, San Diego

The annual ritual is a point of local pride even as Eagle Pass draws wide attention for a showdown between Texas Gov. A few hours later, about 200 advocates were in a festive mood in the nearby town of Quemado ahead of a “Take Back Our Border” rally on Saturday. U.S. Border Patrol agents are denied entry. Eagle Pass, with about 30,000 people, has become a major corridor for illegal crossings in recent years, making it a target for Abbott's enforcement. The Biden administration told the Supreme Court that “Texas has effectively prevented Border Patrol from monitoring the border” at Shelby Park.

Persons: Rolando Salinas, Greg Abbott, Biden, ” Salinas, Connie Hinton, Valeria Wheeler, Alejandro Mayorkas, Mayorkas, Del, Jorge Barrera, ” Barrera, Ken Paxton, “, Donald Trump, MAGA, ” Julio Vasquez, Iglesia Luterana, ” Alicia Garcia, Shelby, ”, Garcia, Elliot Spagat, Paul Weber Organizations: PASS, ” Cowboys, San Antonio Stock, Texas Gov, La Cabalgata Internacional, Border, Republican, Democratic White House, Border Patrol, . Homeland, Associated Press, Visitors, of Commerce, ”, Texas National Guard, Supreme, Patrol, Eagle Locations: Texas, Eagle, Piedras Negras, Mexico, United States, La Cabalgata Internacional La Grande, Quemado, Austin , Texas, Virginia, Rio Grande, U.S, Del Rio , Texas, Del Rio, Tucson , Arizona, San Diego, California, Shelby Park, “ Texas, Shelby, Iglesia Luterana San Lucas

☆ Superdry shares soar more than 100% as company considers going private
▼ + stars: | 2024-02-02 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — Superdry shares soared more than 100% on Friday, as the embattled British fashion retailer confirmed that co-founder and CEO Julian Dunkerton is considering taking it private. The stock peaked at 48.55 pence per share shortly before 11 a.m. London time and was last trading at around 46p per share. A recent slump in sales and a falling share price have led to speculation that Superdry, which listed on the London Stock Exchange in March 2010, may become a takeover target. The company confirmed in a market update on Friday that Dunkerton had requested "permission to begin exploring the possibility of making an offer for the company," and to begin talks with potential financial backers, which the business accepted. Dunkerton has until March 1 to submit an offer or walk away under the U.K. Takeover Panel's regulations.

Persons: Julian Dunkerton, Dunkerton, Superdry Organizations: London Stock Exchange, Company Locations: British, London, Norwegian

☆ European markets set for higher open with earnings, central banks in focus
▼ + stars: | 2024-02-02 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets are set for a higher open on Friday to close out a busy week of corporate earnings and major central bank decisions. On Wednesday, the U.S. Federal Reserve also left policy unchanged and Chair Jerome Powell poured cold water on speculation about a potential first interest rate cut in March. Preliminary inflation data for the euro zone on Thursday revealed the annual increase in the headline consumer price index eased slightly in January, while core figures declined less than expected and services inflation held steady. Friday is set to be quieter on the earnings front, with Spain's CaixaBank among the biggest names reporting. No major corporate earnings or economic data releases are due from Europe.

Persons: Jerome Powell, Spain's Organizations: Bank of England, U.S . Federal Reserve, Deutsche Bank, BNP, Adidas, Volvo Locations: Europe

☆ Volvo shares jump 24% on higher sales, plans to stop Polestar funding
▼ + stars: | 2024-02-01 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Volvo Cars shares surged more than 24% Thursday after the Swedish automaker announced that it will stop funding subsidiary Polestar Automotive. Volvo earlier in the day reported a 10% year-on-year increase in fourth-quarter net sales to 148.1 billion Swedish krona ($14.16 billion), bringing its full-year 2023 total to 552.8 billion krona. Adjusted operating income jumped to 18.38 million krona from 12.17 million for the same period in 2022. The group announced that it may hand stewardship of ailing luxury car brand Polestar over to majority Volvo shareholder Geely Holding . "We are therefore evaluating a potential adjustment to Volvo Cars' shareholding in Polestar, including a distribution of shares to Volvo Cars' shareholders.

Organizations: Volvo, Volvo Cars, Polestar Automotive, Geely, Geely Sweden Holdings Locations: Seoul, South Korea, Swedish, Polestar, Geely Sweden

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