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☆ UK Prime Minister Liz Truss slams Putin, hails queen in debut UN speech
▼ + stars: | 2022-09-22 | by ( ) www.cnbc.com time to read: +5 min

British Prime Minister Liz Truss on Wednesday accused Russian President Vladimir Putin of making "saber-rattling threats" to cover his failed invasion of Ukraine, as she told the United Nations that its founding principles were fracturing because of aggression by authoritarian states. In her first international speech since becoming prime minister two weeks ago, Truss hailed the founding principles of the United Nations, while calling for new international alliances to circumvent the influence of authoritarian regimes. She also called for a toughening of the West's response to Russia's invasion. To Truss, a Conservative free marketeer, that means cutting individual and corporate taxes and slashing regulations for business. Despite the economic shockwaves, Truss said Britain's commitment to defending Ukraine "is total."

CNN —Russian President Vladimir Putin announced the immediate “partial mobilization” of Russian citizens on Wednesday, a move that threatens to escalate his faltering invasion of Ukraine following a string of defeats that caused recriminations in Moscow. US President Joe Biden condemned the mobilization and the Kremlin’s planned votes, during his speech to the United Nations General Assembly on Wednesday. “Putin claims he had to act because Russia was threatened, but no one threatened Russia – and no one other than Russia sought conflict,” Biden added. A billboard promoting contract army service, with the slogan "Serving Russia is a real job," in St. Petersburg. On Tuesday, Russia’s lower house of parliament, the State Duma, amended the law on military service, toughening the punishment for violation of military service duties – such as desertion and evasion from service – according to state news agency TASS.

☆ Banks keep European shares afloat
▼ + stars: | 2022-09-20 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

REUTERS/StaffSummarySummary Companies Bank stocks set to outperform European sectors for the monthFed expected to raise interest rates by 75bps on WednesdaySwedish c.bank surprises with full percentage point rate hikeSept 20 (Reuters) - European shares edged higher on Tuesday, boosted by banks, while expectations of another large interest rate hike by the U.S. Federal Reserve kept risk-taking bets in check. The pan-European STOXX 600 (.STOXX) index added 0.1%, after a soft start to the week, with banks (.SX7P) climbing 1.6% by 0759 GMT as lenders tend to benefit from a high interest rate environment. The U.S. central bank will likely deliver its third straight super-sized 75 basis point interest rate hike on Wednesday, toughening its stance on persistent inflation. "It's all about central banks this week and it looks like the traders are actually pricing in both the Fed's rate hike and the interest rate hike from the Bank of England," said Erik-Jan van Harn, macro strategist at RaboResearch. Shares of Bachem Holding (BANB.S) soared 9.0%, to the top of the STOXX index, after the Swiss biotech supplier signed two new contracts for peptides.

☆ How Warner Bros. Discovery's reorganization, content cuts, and layoffs have shocked Hollywood and delighted Wall Street
▼ + stars: | 2022-08-04 | by ( Lucia Moses | Elaine Low | ) www.businessinsider.com time to read: +5 min

Discovery formed in 2022, combining a rich array of properties from Warner Bros. to CNN. David Zaslav has been enjoying a stock runup after Wall Street analysts expressed increased optimism about Warner Bros. Discovery, with much cost-cutting behind it and growth ahead as it plans to launch a new streaming service. AT&T's WarnerMedia merged with Discovery in 2022 in a $43 billion deal, creating a content behemoth combining Warner's HBO, CNN, and famed Warner Bros. film studio with Discovery's lifestyle and reality fare. WBD shocked entertainment insiders by canceling high-profile projects like "Batgirl" and yanking episodes of shows including "Sesame Street" from HBO Max, and it has made other moves that concerned Hollywood creatives.

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