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☆ Even if Erdogan Loses the Election, Turkey Is in Trouble - The New York Times
▼ + stars: | 2023-05-11 | by ( Cihan Tugal | ) www.nytimes.com time to read: +3 min

Two of the opposition parties are headed by high-profile former members of the A.K.P. The other, Ahmet Davutoglu, is widely credited with its approach to foreign policy. The shift away from Mr. Babacan’s market-friendly policies was effectively enforced by a contraction in world markets a decade ago. In power, the shaky but real benefits of the A.K.P.’s ever-shifting mix and match of market-oriented and statist policies cemented these ties with the people. Without a clear alternative to the status quo, many people will stick with the political leadership they know.

☆ Çanakkale: Where ancient Troy sits beside the modern city
▼ + stars: | 2023-05-10 | by ( Nick Hilden | ) edition.cnn.com time to read: +9 min

CNN —An enormous wooden horse presides over the marina in Çanakkale, a small port city southwest of Istanbul. The clapboard animal is a mock-up of the Trojan Horse of mythological fame. Çanakkale (pronounced cha-na-call-ay) stands adjacent to the archaeological site that was once the ancient city of Troy, best known as the setting of the Trojan War in Homer’s “Iliad.”A giant wooden horse watches over Çanakkale. Today when you visit Truva – either via car or a short bus ride from Çanakkale – a second model of the Trojan Horse looms at the entrance. “We know that there were many wars that occurred at Troy,” Rose explains.

☆ ‘We Don’t Want This War’: Trapped in Khartoum as Combat Rages
▼ + stars: | 2023-05-10 | by ( Abdi Latif Dahir | Cora Engelbrecht | ) www.nytimes.com time to read: +1 min

Nurses maneuver through gunfire and shelling to make house calls, delivering babies and providing care to those who can’t reach hospitals. Families barely eat in order to conserve dwindling food and water supplies, as temperatures rise. And the few good Samaritans who venture out to help the elderly or put out a blazing fire face intimidation and arrest by the fighters in the streets. The Sudanese capital, Khartoum, has endured the most intense fighting, prompting embassies and the United Nations to evacuate their nationals and staff members — leaving behind millions who now face shortages of water, food, medicine and electricity. The clashes — between the Sudanese Army and the paramilitary group known as the Rapid Support Forces — have continued despite repeated cease-fires purportedly agreed to by both sides.

☆ Investors should own metals and mining stocks as commodities are the next sector to boom after China's reopening, Goldman Sachs chief equities strategist says
▼ + stars: | 2023-04-26 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Goldman Sachs chief US equity strategist broke down the bull case for metal and mining stocks. David Kostin points to US companies that will benefit from demand driven by China's reopening. Goldman Sachs analysts forecast a 30% increased in the S&P GSCI, an index that broadly measures the performance of the commodities sector, within the next year. It's not just Kostin who is anticipating immense growth from China's reopening. The International Monetary Fund forecasts China will become the biggest driver of global economic growth over the next five years.

The London Stock Exchange Group (LSEG) (LSEG.L) and UK trade officials visited several cities in China to promote UK capital markets recently. Wilson Xu, a banking veteran from CITIC Securities pioneering the Stock Connect programme, said liquidity will improve when there is a critical mass of Chinese listings. The Shanghai-London Stock Connect was launched in 2019 and the link was expanded last year to include Shenzhen and Switzerland. Even arrangements by SIX to allow roughly 2.5 hours of trading in a session for Chinese GDRs didn't help. Chinese companies, however, have been positive in public disclosures about their forays in Europe which have given them an alternative channel to raise funds and access foreign currency for their operations abroad.

[1/4] Chinese President Xi Jinping and France's President Emmanuel Macron meet at the Guandong province governor's residence, in Guangzhou, China, Friday, April 7, 2023. Macron's comments came in an interview on a trip to China that was meant to showcase European unity on China policy, with European Commission President Ursula von der Leyen also taking part, but highlighted differences within the European Union. A senior diplomat from Central and Eastern Europe, speaking on condition of anonymity, said: "President Macron is not speaking for Europe or the European Union. The French foreign ministry cancelled a planned debrief on the trip for foreign diplomats in Paris on Tuesday as officials scrambled to make sure they had a consistent message and to limit any fallout with Washington. But even some of those broadly supportive of Macron's agenda lamented the handling of the China trip, in which von der Leyen received a much more muted welcome than the French president.

☆ Morning Bid: Markets exhale after OPEC+ shock; RBA hits pause
▼ + stars: | 2023-04-04 | by ( Kevin Buckland | ) www.reuters.com time to read: +2 min

Crude oil continued to tick up, but not at Monday's pace, with Brent a little over $85. Money markets lay 2:1 odds for the Fed to hike by another quarter point over a pause at their next meeting in a month from now. By contrast, the European Central Bank is seen as almost certain to tighten by a quarter point at its meeting around the same time. The Reserve Bank of Australia, for its part, decided to press pause on its year-long rate hiking campaign - as most economists had predicted - amid signs that inflation may have peaked. China has been for the first time keeping at least one nuclear-armed ballistic missile submarine constantly at sea, according to a Pentagon report.

☆ 'It's not a pretty picture': Russia's support is growing in the developing world
▼ + stars: | 2023-03-30 | by ( Elliot Smith | ) www.cnbc.com time to read: +8 min

Chinese President Xi Jinping met with Russian President Vladimir Putin in Moscow earlier this month and the two leaders vowed to deepen economic ties. watch nowWhile South Africa caused controversy in February by holding joint military drills with Russia and China on the anniversary of the invasion of Ukraine. The EIU said the number of neutral countries rose from 32 to 35, now representing almost 31% of the global population. However, this bloc also represents just under 68% of global GDP, highlighting an emerging disconnect between wealthy Western economies and the Global South. Countering organized Russian propaganda first requires acknowledging the problem, and building awareness about the aims and effectiveness of sanctions, she said.

☆ Russia and China are being driven together as the chasm with the West deepens
▼ + stars: | 2023-03-21 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

"It's basically about certain strategic interests, that are very close to both Beijing and Moscow at this point," she added. "For both Russia and China, the main interest is to weaken the U.S.-led international order, that's their primary goal, long term and short term." The Ukraine factorFor both China and Russia, the war in Ukraine is both a challenge to that U.S.-led world order and a way to undermine it, analysts note. China has held back from openly supporting Russia's war in Ukraine but it has also refused to condemn the invasion. This fear, she said, could sway China when it considers whether to offer Putin help in Ukraine.

☆ Nothing comes for free: What China hopes to gain in return for helping Russia
▼ + stars: | 2023-03-21 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +5 min

Russian President Vladimir Putin and Chinese President Xi Jinping leave after a reception in honor of the Chinese leader's visit to Moscow, at the Kremlin in Moscow, Russia March 21, 2023. Unofficially, however, analysts say the presidents are also likely to discuss ways for China to assist Russia without it risking being hit with Western sanctions itself. For many close watchers of Russia and China's deepening relationship over the past decade, the big question then is this: What could China want in return for helping Moscow? China was diversifying its energy sources and turning to Russia, Bachulska noted, as well as looking to its neighbor for raw materials. "But still, in overall bigger-picture terms, China has an upper hand economically and if China supports Russia in a more substantial way this will continue even more," she added.

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, First Republic, Charles Schwab, Match & more
▼ + stars: | 2023-03-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Wells Fargo reiterates PNC as overweight Wells said PNC should benefit from a "flight to quality." Deutsche Bank reiterates Charles Schwab as buy Deutsche said liquidity risks for Charles Schwab are overblown. Wells Fargo reiterates Western Alliance Bancorp as overweight Wells said it's standing by shares of the regional bank. Wells Fargo reiterates American Express as overweight Wells said investors should buy the dip in American Express shares. Bank of America reiterates Amazon as buy Bank of America said it's standing by its buy rating on shares of Amazon.

☆ 'This is a warning to the Fed': Wall Street reacts to the collapse of Silicon Valley Bank, the biggest bank failure since 2008
▼ + stars: | 2023-03-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Regulators shut down Silicon Valley Bank on Friday, putting it into FDIC receivership. I think doing nothing would've been negative, but getting involved stops things in their tracks," Wright told Insider. Nancy Tengler, chief executive and chief investment officer, Laffer Tengler Investments"Often what we get from regulators, they close the barn door after the horses are out of the barn," Tengler told Insider. It's not like interest rates haven't been rising for a year. Jamie Cox, managing partner, Harris Financial Group"When the Fed jacks up interest rates 500 basis points in a matter of months, things like SVB happen," Cox told Insider.

☆ New look CBDCs and cryptomarket to emerge from turmoil, top BIS official says
▼ + stars: | 2023-02-06 | by ( Marc Jones | ) www.reuters.com time to read: +4 min

LONDON, Feb 6 (Reuters) - Cryptomarkets have not been killed off by last year's turmoil, while the new wave of central bank digital currencies will face geopolitical limits, the Bank for International Settlements' new innovation head has predicted. Dubbed the central bank to the world's central bank, the BIS has long been critical of cryptocurrencies, likening bitcoin to both a ponzi scheme and market bubble in the past. Since the start of 2023, however, there has been something of a rebound, including a 40% recovery in bitcoin's price. The European Central Bank should get the go-ahead for full-scale tests. "We will never have full interconnectedness," Skingsley said, adding though that the BIS' work aimed to make CBDCs as versatile as possible.

☆ Who is Shou Zi Chew? Mounting scrutiny on TikTok could put new spotlight on its CEO
▼ + stars: | 2023-01-20 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +8 min

Months later, when TikTok was grilled by Congress over privacy and security concerns, Pappas was the TikTok executive in the hot seat fielding questions. But Chew, who took over as TikTok CEO in April 2021, has largely stayed out of the spotlight at a time when the app he leads can’t seem to avoid it. He eventually went on to become the CFO of Chinese tech giant Xiaomi, which he helped take public in 2018. While Chew is not a Chinese national, Quint noted Chinese tech companies and leaders that have drawn too much attention to themselves have faced tough government crackdowns. Ultimately, Quint said, “I don’t think the CEO of TikTok has much relevance at all” for US lawmakers scrutinizing its ties to China.

☆ DXC Technology: Cyber arms race and geopolitically motivated cyberattacks set to increase in 2023
▼ + stars: | 2023-01-04 | 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 EmailDXC Technology: Cyber arms race and geopolitically motivated cyberattacks set to increase in 2023Mark Hughes, president of security at DXC Technology and former CEO at BT Security, discusses his outlook for cybersecurity in 2023.

☆ China decoupling takes one step forward, one back
▼ + stars: | 2022-11-29 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +7 min

It has pushed for reshoring production of electric vehicles and silicon chips, and legislated to delist Chinese companies from New York. Europe, Japan, Australia and India have implemented their own measures ranging from restrictions on Chinese investment, excluding equipment from telecoms networks, and banning consumer apps. The impact the pandemic has had on Chinese supply chains has retroactively validated the push to separate. For politicians who hope to replicate the Chinese supply chain via tax tweaks, subsidies and sanctions, it’s worth remembering China started building out the requisite logistical infrastructure in the 1980s. Non-financial outbound direct investment in the same 10-month period rose 10.3% year-on-year to 627.4 billion yuan, Shu said.

☆ JPMorgan says these 8 energy stocks have huge 'upside potential' amid painful rate hikes – and breaks down 2 others that allows investors to cash in near-term
▼ + stars: | 2022-11-02 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

While the S&P 500 is down nearly 20% year-to-date, its energy sector is up about 60% so far in 2022. JPMorgan recommends these 8 Russell 2000-listed energy stocks amid a harsh macro backdrop. Amid the central bank's monetary tightening to combat near 40-year high inflation, stocks continue their downtrend. Energy stocks, in particular, could be a nice buying opportunity as the US economy appears to be heading toward a recession. With a mix of both growth and value stocks, JPMorgan recommends these 10 Russell 2000-listed stocks amid harsh macro conditions.

☆ Why the energy stock rally can keep going in 2023-24 after a 60% surge this year, according to the ETF strategy lead at $18 billion SS&C ALPS
▼ + stars: | 2022-11-02 | by ( Marley Jay | ) www.businessinsider.com time to read: +3 min

Energy stocks have been the biggest winners in the stock market over the last year. While nothing lasts forever, there are good reasons to think energy stocks still have plenty of bright days ahead of them, according to Paul Baiocchi. The S&P 500's energy sector is up about 60% so far this year, a remarkable result with the overall S&P 500 down nearly 20% year-to-date. Along with energy companies, he says that value stocks are better positioned than growth stocks in this higher-interest rate environment. And if energy can continue to outperform, it would be a dramatic change considering how bearish investors were about energy companies just a few years ago.

☆ Europe’s pain will be ultimately worth it
▼ + stars: | 2022-10-31 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

The combination of crises, caused by President Vladimir Putin’s invasion of Ukraine and hefty borrowing when interest rates were artificially low, will test the bloc. Then the European Central Bank was able to keep interest rates low and buy government debt. ENERGY SQUABBLESEU leaders congratulated themselves early in the year when they came together to condemn Putin’s invasion, impose sanctions on Russia and support Ukraine. EU leaders are already complaining about high interest rates, with Giorgia Meloni, the new Italian prime minister, criticising the ECB last week. But the central bank cannot avoid raising interest rates even if it wanted to.

☆ The US is spending billions to boost chip manufacturing. Will it be enough?
▼ + stars: | 2022-10-18 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +9 min

US-based fabs, or chip manufacturing plants, currently only account for 12% of the world’s modern semiconductor manufacturing capacity, according to data from the Semiconductor Industry Association trade group. Some 75% of the world’s modern chip manufacturing is now concentrated in East Asia – a majority of that in geopolitically-vulnerable Taiwan. Now, simply having the facilities already set up to produce or expand chip manufacturing gives Asia a big advantage. This is not yet the case in places like Arizona and Ohio, where plans to build massive chip manufacturing plants are already underway. If not, even the billions of dollars committed by the private and public sector may not be enough to reshore semiconductor manufacturing.

Register now for FREE unlimited access to Reuters.com RegisterWhite House spokesperson Karine Jean-Pierre said the measures would include penalties on individuals and entities both inside and outside of Russia that support the annexation. Jean-Pierre said the United States will not recognize Russian-annexed areas across Ukraine. But senators pressed O'Brien and Elizabeth Rosenberg, Treasury assistant secretary for terrorist financing and financial crimes, on U.S. sanctions on Russia's energy sector. Washington and its G7 partners have said they will put a price cap on Russian oil in place, but have held back from directly targeting major Russian energy companies over concerns about energy prices and supply. O'Brien also said Washington will continue working with China to ensure it understands U.S. sanctions and the effect they have on China's engagement with Russia.

☆ Opinion: The British Empire: A legacy of violence?
▼ + stars: | 2022-09-25 | by ( Peter Bergen | ) edition.cnn.com time to read: +19 min

A related question is also surfacing now: What is the legacy of the British Empire writ large? Bergen: This reassessment of British Empire: You are leading the charge. Bergen: So, are the British in high school as they learn about British history being told a bunch of fairy tales? Are there similarities between the 1619 Project and what you and other colleagues are doing in your reassessment of the British Empire? And I think that’s what we’re seeing in different kinds of ways with the history of the British Empire.

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