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☆ Fowler leads as U.S. Open third round gets underway
▼ + stars: | 2023-06-17 | by ( ) www.reuters.com time to read: +2 min

Fowler has already made a mark this week as his two-day 130 total tied the lowest 36-hole U.S. Open scoring record set by Martin Kaymer in 2014. A little different once you get to after 54 holes because that's when things really heat up," Fowler said on Friday. Fowler, who also held a share of the first-round lead with Schauffele, will have his work cut out with a leaderboard that features plenty of top-tier talent. World number three McIlroy, who has gone nearly nine years since winning his fourth major title, will set off in the penultimate group alongside Schauffele two strokes off the lead. World number one Scottie Scheffler, trailing Fowler by five, and British Open champion Cameron Smith, six back, were scheduled to go off at 2:56 PT.

Persons: Rickie Fowler, Wyndham Clark, Rory McIlroy, Xander Schauffele, Fowler, Clark, Martin Kaymer, Schauffele, McIlroy, Lanny Wadkins, Scottie Scheffler, Cameron Smith, Jon Rahm, Canada's Adam Hadwin, Frank Pingue, Ed Osmond Organizations: U.S ., U.S, Los Angeles Country Club, Thomson Locations: ANGELES, Toronto

☆ Voting Rights Act survives at US Supreme Court but more challenges loom
▼ + stars: | 2023-06-09 | by ( John Kruzel | ) www.reuters.com time to read: +6 min

Election law expert Ned Foley of Ohio State University's Moritz College of Law called the ruling "a hugely important development for both the Voting Rights Act and the Supreme Court more broadly." The decision requires Alabama to draw a second U.S. House of Representatives district where Black voters comprise a majority or close to it. The Voting Rights Act was passed at a time when Southern states including Alabama enforced policies blocking Black people from casting ballots. Nearly six decades later, the Supreme Court continues to hear cases involving Black voters suing over electoral maps they argue diminish their influence. Thursday's ruling centered upon Section 2 of the Voting Rights Act, a provision aimed at countering measures that result in racial bias in voting even absent racist intent.

Persons: John Roberts, Brett Kavanaugh, Ned Foley, Roberts, Kavanaugh, Foley, Samuel Alito, Clarence Thomas, Amy Coney Barrett, Neil Gorsuch, Terri Sewell, Marc Elias, Elias, Brennan, Alabama, Deuel Ross, Ross, Gotell Faulks, Faulks, John Kruzel, Moira Warburton, Will Dunham Organizations: U.S, Supreme, Conservative, Republican, Ohio State University's Moritz College of Law, Alabama, U.S . House, Representatives, Black House Democrat, Democratic, Black voters, Black, Brennan Center for Justice, New York, American Civil Liberties, Thomson Locations: Alabama, U.S, Black, Louisiana, Constitution's, Montgomery, Jackson, Baton Rouge

Dorsey questioned the value of a Bahamian court ruling during a Thursday court hearing in Wilmington, Delaware, saying that he would retain authority over the $7 billion in assets recovered by the U.S. debtors no matter what the Bahamian court rules. "It doesn't go to FTX Digital until I say it goes to FTX Digital," Dorsey said. The sides offered very different descriptions of how important FTX Digital was to the crypto exchange's operations. A court ruling in their favor could place the Bahamian company, and not the U.S. debtors, in charge of collecting assets and deciding how to distribute them to FTX customers. The case is FTX Trading, U.S. Bankruptcy Court for the District of Delaware, No.

Persons: John Dorsey, Dorsey, Chris Shore, Sam Bankman, Bankman, Fried's, Andy Dietderich, Brian Glueckstein, James Bromley of Sullivan, Cromwell, Chris Shore of, FTX, Dietrich Knauth Organizations: U.S, FTX's U.S, FTX Digital, FTX, Bahamian, Bankruptcy, District of, Chris Shore of White, Thomson, & & $ Locations: Delaware, Bahamas, Wilmington , Delaware, U.S, Hong Kong, District of Delaware

☆ These high-yield ETFs are a smart way to invest in preferred stocks, Bank of America says
▼ + stars: | 2023-06-06 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Preferred stocks are a type of security that is above common stock in a company's capital structure and often pay higher dividend yields. Preferred ETFs offer the most attractive yield relative to bond ETFs in our coverage," the note said. Bank of America gave buy-equivalent ratings to three funds in this category: the iShares Preferred and Income Securities ETF (PFF) , the Global X U.S. Preferred ETF (PFFD) and the VanEck Preferred ex-Financials ETF (PFXF) . "During the 2008/9 great financial crisis (GFC), high exposure to financials weighed heavily on preferred stock returns, as it has done today.

Persons: Jared Woodard, PFFD, VanEck's PFXF, Van Eck, financials, preferreds, Woodard, — CNBC's Michael Bloom Organizations: Bank of America, Securities ETF, Global, U.S . Preferred, Financials

☆ Big box U.S. retailers will have a hard time navigating difficult consumer environment, says analyst
▼ + stars: | 2023-05-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBig box U.S. retailers will have a hard time navigating difficult consumer environment, says analystPaul Allison, senior analyst at Finimize, says they'll have a "difficult time navigating all the different crosswinds that exist right now."

☆ Senators say new US Postal Service pay plan will cut rural worker compensation
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, May 5 (Reuters) - A group of six U.S. senators on Friday urged the U.S. Postal Service (USPS) to delay implementation of a new compensation system that it says will reduce pay for tens of thousands of rural postal delivery workers. The senators -- Democrats Ron Wyden Elizabeth Warren, Sherrod Brown, Ed Markey and John Fetterman and independent Bernie Sanders -- in a letter to U.S. Postmaster General Louis DeJoy said the automated Rural Route Evaluated Compensation System should not be used "until the system’s serious flaws are rectified." They also asked how USPS "will reimburse rural carriers for lost earnings when the system makes an inaccurate determination about their routes." Reporting by David ShepardsonOur Standards: The Thomson Reuters Trust Principles.

The deal, which also included Colorado, Illinois, Massachusetts and New Mexico, means that San Francisco-based Juul has now settled with 45 states for more than $1 billion. The various states had accused Juul of falsely marketing its e-cigarettes as less addictive than cigarettes and targeted minors with glamorous advertising campaigns. It previously reached a $439 million settlement with 34 states and territories, as well as settlements with several individual states. As of December, its share of Juul was valued at $250 million, down from $12.8 billion in 2018. The CDC also has said using nicotine in adolescence may raise the risk for future addiction to other drugs.

NEW YORK, April 12 (Reuters) - E-cigarette maker Juul Labs Inc has agreed to pay $462 million to settle claims by six U.S. states including New York and California that it unlawfully marketed its addictive products to minors, the states announced on Wednesday. With the deal, Juul has now settled with 45 states for more than $1 billion. The states had accused Juul of falsely marketing its e-cigarettes as less addictive than cigarettes and targeted minors with glamorous advertising campaigns. As of December, its share of Juul was valued at $250 million, down from $12.8 billion in 2018. The CDC also has said using nicotine in adolescence may raise the risk for future addiction to other drugs.

☆ Bank panic created this pocket of opportunity with yields nearing 8%, analysts say
▼ + stars: | 2023-04-06 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Recent banking turmoil in the U.S. and Europe has been a source of panic, but analysts are pointing to a pocket of opportunity: the preferred shares of the big banks. She said yields on the preferred stocks of the big banks are near 10-year highs. Preferred stocks have characteristics of both stocks and bonds — they trade on exchanges like stocks but they have a face value and pay dividends like bonds. Go big Gilbert said she would focus on preferred shares of the United States' big, national banks instead of its regional ones. How to invest There are many funds dedicated to preferred shares, as well as those that offer preferred shares as part of a larger fixed income allocation, according to Citi.

WASHINGTON, March 31 (Reuters) - The United States has decided to extend the deployment of the George H.W. Bush carrier strike group to provide options to policymakers after last week's deadly attacks in Syria by Iran-backed forces, U.S. military officials said on Friday. Buccino also noted a scheduled, expedited deployment of a squadron of A-10 attack aircraft to the region. One U.S. official, speaking on condition of anonymity, said the Bush strike group was expected to remain in the European Command area of responsibility. President Joe Biden warned Iran last week that the United States would act forcefully to protect Americans.

March 24 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. It might not be on a par with Powell's assurances - bank stocks still fell - but perhaps sentiment will improve on Friday. But many economists say broader price pressures remain strong throughout the economy, which could force the Bank of Japan to phase out or scrap its yield curve control policy soon. Here are three key developments that could provide more direction to markets on Friday:- Japan consumer price inflation (February)- Japan flash PMIs (March)- Australia flash PMIs (March)By Jamie McGeever;Our Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Moody's downgrades Signature Bank to junk, places six U.S. banks under review
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

March 13 (Reuters) - Ratings agency Moody's on Monday downgraded the debt ratings of collapsed New York-based Signature Bank (SBNY.O) deep into junk territory and placed the ratings of six other U.S. banks under review for a downgrade. Moody's, which rated Signature Bank's subordinate debt 'C', said it was also withdrawing future ratings for the collapsed bank. The banks placed under review for downgrade are First Republic Bank (FRC.N), Zions Bancorporation (ZION.O), Western Alliance Bancorp (WAL.N), Comerica Inc (CMA.N), UMB Financial Corp and Intrust Financial Corporation, Moody's said. State regulators closed Signature Bank on Sunday, the third largest failure in U.S. banking history, two days after authorities shuttered Silicon Valley Bank (SIVB.O) in a collapse that stranded billions in deposits. Reporting by Nilutpal Timsina in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Bank of England Governor Andrew Bailey has said the central bank may be at the end of its rate-rising cycle, there's a wide 'hawk-dove' divide within the European Central Bank, and the Bank of Canada on Wednesday became the first major central bank to pause its tightening campaign. "I don't think other major central banks are going to be able to match what the Fed is going to do. "The dollar can stay elevated as long as the Fed remains the most aggressive central bank in the world." Of course, central bank cycles don't always converge. Related columns:- Hedge funds record wager on higher 2-year U.S. bond yield- Rates market overshoot - or no man's land?

U.S. corn export sales for 2022-23, which ends on Aug. 31, totaled 29.2 million tonnes (1.15 billion bushels) through Feb. 23. Through Feb. 23, China had booked about six U.S. corn cargoes since late January for delivery in the current marketing year. Since July, Brazil has shipped over 45 million tonnes of corn, well above the prior record of 36.4 million set three years ago. Preliminarily, Brazil shipped 2.3 million tonnes of corn last month, down sharply from January’s 6.2 million and the lowest monthly volume since June. USDA’s latest predictions show Japan’s 2022-23 corn imports flat on the year around 15 million tonnes, which suggests Japanese buyers still have substantial corn needs to cover.

☆ Israeli pro-settler minister formally gains West Bank powers
▼ + stars: | 2023-02-23 | by ( Dan Williams | ) www.reuters.com time to read: +3 min

JERUSALEM, Feb 23 (Reuters) - A far-right Israeli cabinet minister formally gained responsibilities over Jewish settlements in the occupied West Bank on Thursday that he said included bringing their legal status closer to that of communities within Israel. Finance Minister Bezalel Smotrich wields a supervisory role for settlers in the Defence Ministry as part of his coalition deal with Prime Minister Benjamin Netanyahu, prompting increased U.S. focus on Israel's West Bank policies. Asked to elaborate, a Smotrich spokesperson said: "Equal application of relevant laws - on labour, the environment, et cetera - that are legislated in Lesser Israel." "Lesser Israel" is a term used by ultranationalists like Smotrich - himself a settler - who seek annexation of the West Bank, a biblical and strategic area captured in a 1967 war. Smotrich said he would now also have "total responsibility" over zoning, surveys and sales of West Bank lands for settlers, who number around a half-million among 3.1 million Palestinians.

Companies Ledgerx LLC FollowNEW YORK, Feb 7 (Reuters) - A federal judge on Tuesday rejected a proposal to modify Sam Bankman-Fried's bail conditions, despite an agreement between the FTX cryptocurrency exchange founder and prosecutors to address potential witness tampering concerns. U.S. District Judge Lewis Kaplan in Manhattan did not provide reasons for the denial, and said a hearing on bail remains scheduled for Feb. 9. Prosecutors had asked last month to tighten bail, citing Bankman-Fried's efforts to contact both the general counsel of the FTX U.S. affiliate and new FTX Chief Executive John Ray, ostensibly to provide assistance. Bankman-Fried would have also withdrawn his objection to a bail condition preventing him from accessing FTX, Alameda or cryptocurrency assets. They cited the cases' substantial overlap, and the risk Bankman-Fried could gather evidence in the civil cases to help his criminal defense.

Companies Ledgerx LLC FollowNEW YORK, Feb 7 (Reuters) - A federal judge on Tuesday rejected a proposal to modify Sam Bankman-Fried's bail conditions, despite an agreement between the FTX cryptocurrency exchange founder and prosecutors to address potential witness tampering concerns. U.S. District Judge Lewis Kaplan in Manhattan did not provide reasons for the denial, and said a hearing on Bankman-Fried's bail remains scheduled for Feb. 9. Prosecutors had asked last month to tighten his bail conditions, citing Bankman-Fried's efforts to contact both the general counsel of the FTX U.S. affiliate and new FTX Chief Executive John Ray, ostensibly to provide assistance. The proposed conditions would prevent Bankman-Fried from talking with most employees of FTX or his Alameda Research hedge fund without lawyers present, or using encrypted messaging apps such as Signal. Reporting by Luc Cohen and Jonathan Stempel in New York; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Companies Ledgerx LLC FollowNEW YORK, Feb 1 (Reuters) - A U.S. judge on Wednesday temporarily barred FTX founder Sam Bankman-Fried from contacting current or former employees of the cryptocurrency exchange or his Alameda Research hedge fund, and from using encrypted messaging tools including Signal. He was arrested in December on charges of looting billions of FTX customer funds, and lying to investors and lenders. Prosecutors last week cited a Signal message Bankman-Fried sent on Jan. 15 to the general counsel of the FTX U.S. affiliate, referred to in court papers as "Witness-1." The order does not apply to Bankman-Fried's immediate family members, and he may communicate with FTX or Alameda employees if lawyers are present. At next week's hearing, Kaplan will also consider a request by Bankman-Fried's lawyers to allow him to access and transfer cryptocurrency.

☆ U.S. seeks tighter bail for FTX founder Bankman-Fried to prevent tampering
▼ + stars: | 2023-01-28 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Citing Bankman-Fried's "recent attempts to contact prospective witnesses," prosecutors asked U.S. District Judge Lewis Kaplan to ban Bankman-Fried from communicating with current or former employees of FTX or his Alameda Research hedge fund, other than family, unless a lawyer is present. They also asked that Bankman-Fried not use Signal or other encrypted call and messaging applications, though he could still communicate through text messages, email and the phone. In Friday's letter, prosecutors cited a Signal message on Jan. 15 from Bankman-Fried to "Witness-1," the general counsel of the FTX U.S. affiliate. Bankman-Fried expressed interest in having a "constructive relationship" or "at least vet things with each other." In seeking to keep Bankman-Fried off Signal, prosecutors said he had in 2021 directed that many Signal and Slack communications be autodeleted within 30 days.

☆ U.S. and Israel launch a massive joint military exercise to send a message to Iran and others
▼ + stars: | 2023-01-23 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Courtney-Kube-Circle-Byline-Template.Jpg | Courtney Kube | ) www.nbcnews.com time to read: +4 min

The United States and Israel began a massive joint military exercise in Israel on Monday to show adversaries like Iran that Washington is not too distracted by the war in Ukraine and the threat from China to mobilize a large military force, a senior defense official said. Approximately 6,400 U.S. personnel have joined 1,100 Israeli personnel for the exercise, which will employ 142 total aircraft. “The scale of the exercise is relevant to a whole range of scenarios, and Iran may draw certain inferences from that,” the official said. “My guess is the next time they do a military exercise, they’ll say, even if it was planned for months, they’ll say it was reaction to this. The senior defense official said this drill is a signal to other nations that argument is not true.

☆ Bankman-Fried says claims made by FTX lawyers 'misleading'
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: 1 min

Jan 17 (Reuters) - FTX founder Sam Bankman-Fried in a blog post refuted some claims made by the company's lawyers on Tuesday, saying that they were "extremely misleading" and that FTX U.S. was and is solvent. Reporting by Juby Babu in Bengaluru; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ Sam Bankman-Fried Says Law Firm Worked Closely With FTX Before Bankruptcy
▼ + stars: | 2023-01-13 | by ( Mengqi Sun | ) www.wsj.com time to read: +5 min

Sam Bankman-Fried said cryptocurrency exchange FTX had a closer relationship than previously disclosed with its bankruptcy law firm Sullivan & Cromwell LLP, adding to questions about the law firm’s work for past FTX management. Mr. Bankman-Fried is currently under house arrest at his parents’ California home as he faces federal fraud charges. Sullivan & Cromwell was one of two primary law firms FTX International used before the bankruptcy and it was FTX U.S.’s main law firm, Mr. Bankman-Fried wrote in a post Thursday on Substack, an online subscription-based newsletter platform. He added that FTX U.S.’s general counsel was a former member of the law firm without naming him. The new FTX CEO would also be in charge of the bankruptcy process that later picked the law firm as the bankruptcy counsel.

☆ The Davos elite likes to make bold predictions. But they don't always get them right
▼ + stars: | 2023-01-13 | by ( Silvia Amaro | ) www.cnbc.com time to read: +4 min

George Soros, billionaire and founder of Soros Fund Management, at the World Economic Forum in Davos, Switzerland, in Jan. 2016. It's an annual meeting where a global elite of business leaders, politicians and economists make bold predictions and try to set the agenda for the year ahead — but they don't always get it right. Nuclear warBillionaire investor George Soros warned during a speech at Davos in 2018 that the United States could be heading for a nuclear war with North Korea. "The United States is set on a course towards nuclear war by refusing to accept that [North] Korea has become a nuclear power," he said at the time. So far, the United States has avoided any military conflict with North Korea.

☆ Exclusive: Exxon prepares to start up $1.2 bln Texas oil refinery expansion - sources
▼ + stars: | 2023-01-13 | by ( Erwin Seba | ) www.reuters.com time to read: +4 min

Initial startup of a 250,000 barrels per day (bpd) crude distillation unit (CDU) at the 369,000 bpd refinery is expected by Jan. 31, the sources said, making the Beaumont refinery the second largest in the United States. SHALE OIL TO DIESELExxon had no immediate comment on the start up of the new processing unit, called the Beaumont Light Atmospheric Distillation Expansion (BLADE) project. BLADE, considered as early as 2014 and formally approved in 2019, was planned to process Exxon's crude oil pumped from the Permian shale field in West Texas and New Mexico. Operators at the Beaumont refinery this week were purging the new CDU of air in preparation to introduce its first crude, the people familiar with the matter said. POST-PANDEMIC MILESTONEExxon's Beaumont expansion marks a return to an era of steady refining capacity gains through processing tweaks and adding new equipment to existing plants.

It is territory infrequently traveled when it comes to the massive and complex U.S. flight system. Instead, each airline has its own policies about what it will do for delayed passengers. The DOT advises that, if a flight is significantly delayed, customers should ask airline staff if the carrier will pay for meals or a hotel room — but neither of these are guaranteed. If a flight has been delayed for more than two hours, or canceled, many airlines have policies that will kick in that allow passengers to get a full refund for the unused portion of their ticket. Southwest Airlines is rebooking customers on the next available Southwest flight with seats available to the customer’s ticketed destination at no additional cost.

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