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☆ Apollo’s divergent path outshines Blackstone
▼ + stars: | 2023-09-28 | by ( Jonathan Guilford | ) www.reuters.com time to read: +7 min

NEW YORK, Sept 28 (Reuters Breakingviews) - Apollo Global Management (APO.N) and Blackstone (BX.N) both emerged from private equity’s primordial swamp. That spread comprised nearly three-quarters of Apollo’s $3.1 billion in profit available to be doled out to shareholders in 2022. That turbo-charged the fees Blackstone reaps from managing funds, which contributed 59% of $6.6 billion in profit available to shareholders last year. Apollo’s earnings from its insurance business are awarded an even more meager 10 times. This doesn’t form the closed loop like that between Athene, Apollo and its various specialist lenders.

Persons: Marc Rowan, haven’t, dealmaking, Rowan, Blackstone, Steve Schwarzman, Athene, BREIT, Rich, reckons Bain, Schwarzman, Dealmaking, hasn’t, Lauren Silva Laughlin, Oliver Taslic Organizations: Reuters, Apollo Global Management, Blackstone, Apollo, Reuters Graphics Reuters, Barclays, Schwarzman, U.S . Federal, Industry, Life Insurance, Research Association, Thomson Locations: freefall, BREIT, Blackstone

The Canadian central bank had expected productivity, or output per hour worked, to improve as the economy recovered from the COVID-19 pandemic. Instead, it has fallen in eleven of the last 12 quarters, taking it back to its 2016 level. It also stands to add to unit labor costs, a key measure of inflation pressures coming from higher wages. "Our own forecast is that productivity growth will turn around, but that is a risk to the outlook and if productivity growth continues declining it will make it more difficult to get inflation back to target," Macklem said. The central bank has forecast that inflation will return to its 2% target in the middle of 2025.

Persons: Macklem, Derek Holt, tightens, Holt, Dennis Darby, Doug Porter, Fergal Smith, Steve Scherer, Deepa Babington Organizations: Bank of Canada, Reuters Graphics Reuters, BoC, Scotiabank, Federal Reserve, Canadian Manufacturers, Fraser Institute, BMO Capital Markets, Thomson Locations: Canadian, Canada, freefall, United States, Toronto, Ottawa

☆ One Russian diamond giant is halting sales in a desperate scramble to stop prices from plunging
▼ + stars: | 2023-09-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Russia diamond giant Alrosa is halting sales in a bid to boost diamond prices, according to Bloomberg. Diamond prices have struggled over the past year amid growing demand for lab-grown stones. The mining giant will pause sales of rough diamonds until November, Bloomberg reported on Wednesday, citing a company memo sent out to customers. That comes amid a freefall in diamond prices, which has only accelerated over the past few weeks. Russian diamonds are also facing a potential ban from the G7 nations, which could impact the price of diamonds of Russian origin.

Persons: Alrosa, De Beers, — Organizations: Bloomberg, Diamond, Service, Belgian Locations: Russia, Wall, Silicon

☆ Germany in freefall after 4-1 shock loss to Japan as Euro 2024 looms
▼ + stars: | 2023-09-09 | by ( ) www.reuters.com time to read: +2 min

WOLFSBURG, Germany, Sept 9 (Reuters) - Euro 2024 hosts Germany slumped to a shock 4-1 home loss to Japan in their international friendly on Saturday, deepening the sense of crisis hanging over them after their third straight loss less than nine months before the continental tournament. "We have to be honest and say that Japan were better. They were better," Germany captain Ilkay Gundogan said. Ter Stegen denied Japan another goal when Ueda pounced on a defensive error a little later to charge through only to see his shot saved. Asano made amends in the 90th, slotting in to seal their second straight win over Germany before they added another in stoppage time with Ao Tanaka's header.

Persons: Hansi, Ilkay Gundogan, Junya Ito, Leroy Sane, Ueda, Marc, Andre ter Stegen, Ter Stegen, Takuma Asano's, Kaoru Mitoma's, Asano, Karolos Grohmann, Hugh Lawson Organizations: Japan, France, Germany, Thomson Locations: WOLFSBURG, Germany, Japan

☆ Rare protests flare in regime-held Syria as Assad seeks international rehabilitation
▼ + stars: | 2023-08-30 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +8 min

The protests, which are taking place in areas governed by President Bashar al-Assad’s regime, have so far shown no signs of abating. The Druze are Syria’s third largest religious minority making up 3% to 4% of the country’s population, according to Minority Rights Group International. While the largest protests are clustered around al-Sir Square in Suwayda city, other, smaller ones are scattered across the governorate, Marouf said. “If protests spread deeper into regime territories, those chances (of violent crackdown) will surge.”All eyes are on Assad’s next moves. If Assad attends, it would be his first appearance on the world stage since the start of the civil war in 2011.

Persons: Bashar al, disgruntlement, Assad, haven’t, ”, Charles Lister, ” Lister, “ Long, ” Rayan Marouf, Marouf, “, ” Marouf, Hafez, Syria’s, Geir Pedersen, Pedersen Organizations: CNN, Group, Middle East Institute, UN, Arab League, Sir, UN Security Council, Sky News, ISIS, Security, United, United Arab Emirates Locations: Syria’s, Syria, Washington , DC, Russia, Iran, Suwayda governorate, Suwayda, Jaramana, Damascus, “, Idlib, Aleppo, United Arab, Dubai

It is not even certain that the decline in China's U.S. import share represents a true delinking, they said. Yet in the background, the researchers noted that China had "stepped up" its trade and investment activity with Vietnam and Mexico, as well as other countries. "The U.S. could well remain indirectly connected to China through its trade and global value chain links with these third-party countries," they argued. Prices for goods from some countries, moreover, were beginning to rise. Reporting by Howard Schneider; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: JACKSON, deglobalization, Laura Alfaro, Davin Chor, Alfaro, Chor, What's, Howard Schneider, Paul Simao Organizations: Biden, Trump, Federal, Harvard Business School, Tuck School of Business, Dartmouth, Fed, Thomson Locations: , Wyoming, China, Ukraine, freefall, Jackson Hole , Wyoming, U.S, Vietnam, Mexico

☆ Thailand’s political drama, Zimbabwe election hopes and ‘General Armageddon’ removed
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +1 min

Thailand’s former Prime Minister Thaksin Shinawatra has been moved from prison to hospital, just hours after his return to the country from a 15-year exile. Cash-strapped Zimbabwe heads to the polls. Plus, the man known as “General Armageddon” is replaced as head of the Russian air force and a dramatic high wire rescue in Pakistan. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. Further ReadingThailand's billionaire ex-PM Thaksin moved to hospital on first night in jailZimbabweans vote but hopes of ending economic freefall appear dimSouth Africa, China sign power deals during BRICS summitOur Standards: The Thomson Reuters Trust Principles.

Persons: Thaksin Shinawatra, Cash, Thaksin Organizations: Apple, Google, Reuters, Thomson, Reading Locations: Zimbabwe, Pakistan, Africa, China

It is the second contest between the two after Mnangagwa won a closely contested poll in 2018, which the opposition allege was rigged. Some 6.6 million people are registered to vote in the nation of about 15 million. LITTLE CHANGE SINCE MUGABE ERAPolitical analysts say Zimbabwe's unending economic maelstrom could tip the contest in favour of the opposition if the election is clean. We will not accept a rigged vote," Chamisa said at his last campaign rally on Monday. If there is no outright winner, a run-off between the top two candidates will be held on Oct. 2.

Persons: Mugabe, Mnangagwa, Emmerson Mnangagwa, Robert Mugabe, Nelson Chamisa, Chamisa, Olivia Kumwenda, Estelle Shirbon, Giles Elgood Organizations: World Bank, International Monetary Fund, Citizens Coalition, MUGABE, PF, Risk Consulting, ZANU, Zimbabwe Electoral Commission, Parliamentary, Thomson Locations: HARARE, Zimbabwe, Shurugwi, Harare

☆ ‘Bored Apes’ investors sue Sotheby’s, Paris Hilton and others as NFT prices collapse
▼ + stars: | 2023-08-17 | by ( Christy Choi | ) edition.cnn.com time to read: +5 min

CNN —A group of investors is suing Sotheby’s Holdings Inc. and others over a 2021 auction and promotion of Bored Ape Yacht Club non-fungible tokens (NFTs) following a collapse in prices for the celebrity-endorsed collectibles. Sotheby’s is among 30 defendants named in the lawsuit, with celebrities like Justin Bieber and Paris Hilton also accused of promoting the NFT collection without disclosing their financial links to it. A spokesperson for Yuga Labs meanwhile said, via email: “We believe that these new allegations, like those in the previous iteration of this opportunistic complaint, are completely without merit or factual basis. “As a media and technology company, Yuga Labs has empowered strong communities of enthusiasts and entrepreneurs to innovate, connect, and build. The Bored Ape Yacht Club, a collection of 10,000 NFTs hosted on the Ethereum blockchain, launched in April 2021.

Persons: Yuga, Justin Bieber, Paris Hilton, Sotheby’s, NFTs, “, Jack Dorsey’s, LeBron James, “ Beeple, ”, ” —, MoonPay Organizations: CNN, Sotheby’s Holdings Inc, Paris Hilton, Labs, Yuga Labs, Twitter, Adidas, Securities and Exchange Commission Locations: California, freefall

☆ Pound's mini-budget dip made UK's Brexit bill dearer
▼ + stars: | 2023-08-01 | by ( Andy Bruce | ) www.reuters.com time to read: +3 min

In previous years, the Treasury's "reportable losses" have ranged between zero and a few million pounds. This 855 million-euro payment cost Britain 764 million pounds on a day when 1 pound would buy only 1.12 euros. Back in April 2022, when the EU updated Britain's payment schedule for June through September, it assumed an exchange rate of around 1.18 euros per pound - equating to monthly payments of 719 million pounds rather than 764 million pounds. Still, that small net gain represents a sharp drop from March 2022 when it stood at 91.2 million pounds - with the payment on Sept. 30 a conspicuous loss-maker. Economists put the broader costs of the mini-budget episode - stemming from loss of investor confidence and higher market interest rates - in the billions of pounds.

Persons: Dado Ruvic, Liz Truss's, James Murray, Kwasi Kwarteng, Mark Potter Organizations: REUTERS, European Union, Britain, Treasury, Labour Party, Reuters, Thomson

☆ Tupperware might just be the latest meme stock after its shares tripled in a week
▼ + stars: | 2023-07-29 | by ( Ryan Hogg | Jyoti Mann | ) www.businessinsider.com time to read: +4 min

Tupperware might be the latest meme stock after more than tripling in value within a week. Shares in the embattled food container maker more than tripled since July 20 to just over $3, leaving many to wonder whether it might be the latest "meme stock." According to data from Marketwatch, 27% of Tupperware shares that are available to trade have been "shorted" by investors. The amount of short interest in Tupperware has indeed fallen more than a quarter this year amid apparent interest from retail investors. On r/WallStreetBets, the birthplace of the meme stock craze, members were giddily comparing the stock to Bed Bath & Beyond, the now-bankrupt homeware chain that had captivated certain investors since 2021.

Persons: Earl Tupper, didn't, Neil Saunders, Saunders, I've, Tupperware Organizations: Marketwatch, Orlando Business Journal, BlackRock, Orlando Business, Bed Locations: freefall, Tupperware

☆ Carvana shares jump more than 20% on deal to reduce debt by $1.2 billion
▼ + stars: | 2023-07-19 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Carvana has reached a debt restructuring agreement that will reduce the used car retailer's total debt outstanding by more than $1.2 billion, the company said Wednesday. Shares of the company jumped more than 20% in premarket trading Wednesday after being off roughly 7% before the announcement. Carvana stock this year has soared from roughly $4 per share to start the year to roughly $40 as of Tuesday's close. Carvana said its restructuring agreement covered roughly $5.2 billion of senior, unsecured bonds and included Apollo Global Management, its largest bondholder. Carvana's debt before the deal was roughly $8.5 billion, including $5.7 billion, or 74.5%, in unsecured notes, according to FactSet.

Persons: Carvana, Mark Jenkins, Ernie Garcia Organizations: Apollo Global Management, Refinitiv, Refinitiv . Locations: maturities

☆ Russia's economy has gone from bad to worse in a matter of months. Here's where the country is feeling pain the most.
▼ + stars: | 2023-07-16 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +4 min

Russia's economy is going from bad to worse as Western sanctions hammer the country's key sectors. From plunging car sales to a dramatic collapse in its current-account surplus, there's no way to hide Moscow's troubles. Some have even blamed Russian President Vladimir Putin for inflicting so much pain on the nation, with Yale researchers saying he's "cannibalizing" Russia's economy in his urge to conquer Ukraine. Insider's Phil Rosen reported that car sales in Moscow have tanked by nearly 75% since the Ukraine war broke out. Plunging exportsAnother sign that Russia's economy is flailing is the dramatic collapse in its current-account balance.

Persons: Vladimir Putin, he's, Putin, Jeffrey Sonnenfeld, Steven Tian, Insider's Phil Rosen, Tian, Konstantin Sonin, Wagner Organizations: Service, Yale, Energy, Russia's Finance Ministry, University of Chicago Locations: Russia, Wall, Silicon, Ukraine, Russian, Moscow

Chief prosecutor Karim Khan visited Cox’s Bazar, Bangladesh, for four days this week to hear testimony from survivors of alleged genocide by Myanmar’s military against its Rohingya population. “There is heartbreak in these camps,” Khan said in an exclusive interview with CNN. Meanwhile, the Rohingya have been waiting six years and no such action has been taken against the Myanmar military leaders who ordered the attacks. “The big difference is that we have access to Ukraine, we don’t have access to Myanmar,” Khan said. Chief prosecutor Khan believed that Myanmar’s military leaders, including junta leader Min Aung Hlaing could be held to account.

Persons: Court’s, Karim Khan, ” Khan, ”, Vladimir Putin, Kutupalong, Ziabul Hossain, ICC’s Khan, Volker Türk, Khan, “, can’t, taka, Mohamed Rofique, Mohammad, Rofique, Min Aung, Slobodan Milošević, Charles Taylor, Jean Kambanda Organizations: CNN, ICC, Myanmar, Criminal, Getty, UN, Human, International Court of Justice, ICJ, Liberian, Rwandan Locations: Cox’s Bazar, Bangladesh, Ukraine, Rakhine, Russia, Myanmar, Kutupalong Rohingya, Cox's Bazar, Tanbir Miraj, AFP, Gambia, Maungdaw, Rohingya, Bazar

☆ Turkey's inflation rate cools despite steep lira plunge
▼ + stars: | 2023-07-05 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Turkey's monthly inflation rate for June came in lower than expected, despite the continued collapse of the lira currency following the re-election of President Recep Tayyip Erdogan. Turkey's consumer price index rose 3.92% month-on-month, official data showed Wednesday. On a year-on-year basis, inflation rose 38.21%, also slightly lower than Reuters' forecasts of 39.47%. "The lira freefall starts to take its toll once again as it reignites cost pressures," he said. Ash added that the central bank will need to "work very hard to bring inflation meaningfully down from here."

Persons: Recep Tayyip Erdogan, Bartosz Sawicki, Timothy Ash, Ash Organizations: Reuters, CNBC

☆ Russian ruble extends freefall as US weighs new weapon for Ukraine amid Putin regime's disarray
▼ + stars: | 2023-06-29 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The Russian ruble extended its slide, dipping to a 87.75-per-dollar level on Thursday. The mutiny may lead the US to consider supplying Ukraine with a new long-range missile. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. The US is now considering arming Ukraine with the Army Tactical Missile System after previously opposing it, sources told the Wall Street Journal. The ATACMS long-range missile would provide Kyiv with the ability to strike Russian targets farther beyond the frontlines, making on-the-ground support more challenging.

Persons: Wagner, —, Andrei Belousov, Wagner's Yevgeny Prigozhin Organizations: Service, Moscow Saturday, Army Tactical Missile System, Wall Street, Russia Locations: Ukraine, Moscow, Russia, Russian

☆ Virgin Galactic launches first paying customers to the edge of space
▼ + stars: | 2023-06-29 | by ( Jackie Wattles | ) edition.cnn.com time to read: +7 min

CNN —Virgin Galactic, the venture founded by British billionaire Richard Branson, successfully launched its first paying customers to the edge of space — a milestone two decades in the making. (Future Virgin Galactic flights, however, are expected to include a range of high-profile customers.) Bennett’s role was to assess the comfort and function of the flight, using that information to inform future changes Virgin Galactic might make to its rocket-powered space plane, VSS Unity. Organizations such as NASA have routinely flown experiments on suborbital rockets, including Virgin Galactic and Blue Origin missions. In a tragic 2014 accident, Virgin Galactic’s space plane broke apart during flight, killing the mission’s copilot, Michael Alsbury.

Persons: Richard Branson, Virgin Galactic’s, Jeff Bezos’s, Walter Villadei, Angelo Landolfi, Colin Bennett, Pantaleone, Branson, Burt Rutan, Paul Allen, Hamish Harding, Michael Alsbury, — Organizations: CNN, Virgin Galactic, Italian Air Force, Virgin, SpaceX, Italy’s National Research Council, Branson, VSS, VSS Unity, NASA, International, National Research Council, Microsoft, Galactic, OceanGate, Scaled Composites, Origin, Congress, Federal Aviation Administration, FAA Locations: British, New Mexico, United States

☆ Who wants to be a CEO right now?
▼ + stars: | 2023-06-09 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Let's be real: Being a CEO sucks right now. But 2023 has brought a level of scrutiny that makes being a CEO today a nightmare for even the toughest leader. CNN's former chief Chris Licht stepped down on Wednesday after less than a year, following intense criticism from inside and outside his newsroom. Meme stock company GameStop fired its CEO Matthew Furlong on the same day as Licht, also after a short tenure. At the low point of a boom-and-bust cycle where high interest rates and high expectations reign supreme, being a CEO sucks.

Persons: Let's, CNN's Chris Licht, —, Jack Welch, CNN's, Chris Licht, Licht, Matthew Furlong, Jeff Shell, Jack Bowles, Patience, Matt Turner, Raul Vargas Organizations: Corporate, Service, General Electric, Observers, GameStop, Google, Farmers Group Locations: freefall, British

☆ Rahane helps India hang tough against Australia onslaught
▼ + stars: | 2023-06-09 | by ( Pritha Sarkar | ) www.reuters.com time to read: +3 min

Australia will be eager to tighten their grip on the match as they lead India by 196 runs, with Usman Khawaja batting on 13 along with Marnus Labuschagne on eight. While Thakur lived dangerously, Rahane went about rescuing India's hopes with his mix of delectable shot selection in the 109-run partnership for the seventh wicket. While he fell 11 runs short of scoring a century in the second over after lunch, the 35-year-old crossed 5000 test runs during his 129-ball knock which included 11 fours and a six. Following Rahane's departure, Thakur steered India past the follow-on target before bringing up his 50 with a sumptuous four. Blinking rapidly, he hurriedly grabbed his bat to make his way to the crease and made sure Australia reached tea without losing any further wickets.

Persons: Pat Cummins, Usman Khawaja, Marnus Labuschagne, Ajinkya Rahane, Shardul Thakur, Scott Boland, Srikar, Bharat, Thakur, Cummins, Cameron Green, Rahane, India's, Alex Carey, Rohit Sharma's, Umesh Yadav, Mohammed Shami, Labuschagne, David Warner, napping, Warner, Pritha Sarkar, Ken Ferris, Toby Davis Organizations: India, Australia, DRS, Cummins, ICC, WTC, Thomson Locations: India, Australia, London

☆ Morning Bid: Fresh lira low, focus on Fed
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Kevin BucklandAnother day, another market-positive appointment from Turkish President Tayyip Erdogan, and yet, another record low for the lira. Erdogan is making all the right noises to signal a return to more orthodox policy, picking U.S. banking executive Hafize Gaye Erkan as head of the central bank. Even so, the lira is seemingly in freefall, reaching an unprecedented 23.54 per dollar in Asian hours and extending this month's drop to 12%. ECB Vice President Luis de Guindos has a chance to air his views at an event in Madrid. Reuters GraphicsKey developments that could influence markets on Friday:Sweden GDP and industrial productionItaly industrial outputECB Vice President Luis de Guindos speaks at conference in MadridReporting by Kevin Buckland; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

Persons: Kevin Buckland Another, Tayyip Erdogan, Erdogan, Hafize Gaye Erkan, Mehmet Simsek, Rodrigo Catril, Luis de Guindos, Kazuo Ueda, Kevin Buckland, Edmund Klamann Organizations: Reuters Graphics Reuters, Federal Reserve, ECB, Bank of Japan, Fed, SEC, Reuters, Thomson Locations: freefall, Europe, Canada, Australia, Madrid, Sweden, Italy

☆ Goldman Sachs expected the Turkish lira to plunge over 3 months. It happened in just 3 days
▼ + stars: | 2023-06-08 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

The Turkish lira has extended its post-election freefall this week, already surpassing a Goldman Sachs forecast for a significant weakening of the currency over the next few months. The U.S. investment bank at the weekend projected that the lira still had room to plunge further to deeper lows: to 23 against the greenback in three months, compared to a previous estimate of 19 against the dollar. Around the time of the report's release, the embattled currency was trading just above 20 to the dollar. But it has since weakened sharply — past Goldman's forecast to stand above 23 against the dollar — all within the span of a few days. The lira was last trading at a fresh all-time low of 23.29 against the greenback on Thursday afternoon.

Persons: Goldman Sachs, Mehmet Simsek Locations: U.S

☆ Sabalenka survives first set implosion to overcome Stephens
▼ + stars: | 2023-06-04 | by ( Karolos Grohmann | ) www.reuters.com time to read: +3 min

Sabalenka, the hardest-hitting player on the women's tour and the 2023 Australian Open champion, raced to a 5-0 lead with Stephens winning a total of just eight points. With her own first serve wilting, Sabalenka, in complete freefall by now, missed another two set points at 5-4 on Stephens' serve before her opponent spectacularly levelled and then held to take it to a tiebreak. The Belarusian, looking win a second Grand Slam trophy, managed to pull herself together at the last moment, clinching the first set on her fourth opportunity. She cut down on the unforced errors in the second set but again Stephens battled back from 4-2 down to level before Sabalenka broke again to go 5-4 up and serve out the match. I'm super happy with this win," Sabalenka said in comments given to women's governing body WTA after she refused to do a post-game interview for the second time in a row.

Persons: Roland Garros, Sabalenka, Sloane Stephens, Kai Pfaffenbach PARIS, American Sloane Stephens, Ukraine's Elina Svitolina, Stephens, Karolos Grohmann, Ken Ferris, Pritha Organizations: U.S, REUTERS, American, WTA, Svitolina, Thomson Locations: Paris, France, Belarus, Belarusian, Ukraine

☆ Footage appears to show low-flying Russian Su-34s dropping bombs on anti-Putin militias and missing the target, says report
▼ + stars: | 2023-05-27 | by ( Isobel Van Hagen | ) www.businessinsider.com time to read: +3 min

Footage appears to show Russian Su-34 jets bombing a checkpoint within their own borders. The video shows two jets dropping high-level explosives from an "ultra-low altitude." The video appears to show the jets missing the target, a building at Russia's own checkpoint. The legion said it sent units to Grayvoron, and footage purportedly from the checkpoint appears to show armored vehicles taking over the post, The Guardian reported on Tuesday. Last month, a Russian Su-34 accidentally dropped a bomb on its own city of Belgorod, Insider previously reported.

☆ France summons brother, assistant of Lebanon central bank boss in fraud probe
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +2 min

Central bank chief Riad Salameh, his brother Raja Salameh, and his assistant Marianne Hoayek are being investigated in Lebanon, France and other countries for allegedly taking hundreds of millions in funds from the central bank. France has set a hearing in Paris for his brother Raja on May 31 and for Hoayek on June 13, a source close to the matter told Reuters. A Lebanese judicial source confirmed to Reuters that Lebanon's judiciary had received the summons and was working to deliver them. France last week issued an arrest warrant for Salameh, 72, after he failed to attend his own hearing in Paris. The Salameh brothers and Hoayek have already been charged in two separate cases in Lebanon related to embezzlement and other financial crimes.

☆ Friday, May 19, 2023: Cramer shows why history is on the side of this sinking stock
▼ + stars: | 2023-05-19 | by ( Joshua Natoli | ) www.cnbc.com time to read: 1 min

Friday, May 19, 2023: Cramer shows why history is on the side of this sinking stockJim Cramer and Jeff Marks discuss a retail portfolio holding in freefall after it reported earnings before the opening bell Friday. Jim shows why history is on the company's side however, pointing to its CEO as what he thinks will be the key driver to the stock surging long term. Jeff shares why he and Jim could be looking to trim some tech names soon.

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