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☆ Automakers oppose Cleveland-Cliffs push to buy U.S. Steel
▼ + stars: | 2023-10-31 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

U.S. Steel Edgar Thompson Works is seen in Braddock, Pennsylvania, U.S. November 4, 2022. REUTERS/Quinn Glabicki/File Photo Acquire Licensing RightsWASHINGTON, Oct 31 (Reuters) - A group representing major automakers on Tuesday said the industry opposes steelmaker Cleveland-Cliffs' (CLF.N) proposed acquisition of U.S. Steel (X.N), saying it would increase auto industry costs and slow electric vehicle sales. U.S. Steel in August rejected Cleveland-Cliff's proposed $7.25 billion price. Cleveland-Cliffs CEO Lourenco Goncalves last week during an earnings call declined to discuss the issue, citing restrictions. In August, U.S. Steel said it had entered into confidentiality agreements with "numerous third parties" and started to review multiple unsolicited proposals ranging from partial acquisition to an entire buyout.

Persons: Steel Edgar Thompson, Quinn Glabicki, John Bozzella, Lina Khan, Jonathan Kanter, Cliff's, Lourenco Goncalves, David Shepardson, Nick Zieminski Organizations: REUTERS, Rights, U.S . Steel, Alliance, Automotive Innovation, General Motors, Toyota, Volkswagen, Hyundai, Federal Trade Commission, Justice Department Antitrust, . Steel, Cliffs, Steel, Thomson Locations: Braddock , Pennsylvania, U.S, Cleveland

☆ Arab American support for Biden, Democrats plummets over Israel, poll shows
▼ + stars: | 2023-10-31 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

Arab American support for Biden, at 59% in 2020, fell even before the outbreak of violence in the Middle East to 35%, the poll commissioned by the Arab American Institute showed, but has halved since. THE TAKEThe poll is the latest evidence that Biden's campaign for a second term in office is rapidly losing Muslim and Arab Americans support over his staunch support of Israel. Only 20% of Arab Americans would rate Biden's job performance as "good," the poll showed, with 66% reporting a negative view of the president overall. The poll showed that 45% of Arab Americans were concerned about their personal safety due to the recent violence in Israel and Palestine. The poll was conducted by John Zogby Strategies of 500 Arab Americans with some answering online only.

Persons: Bonnie Cash, Joe Biden's, Donald Trump, Robert F, Kennedy Jr, Cornel, John Zogby, Andrea Shalal, Heather Timmons, Nick Zieminski Organizations: Palestine, REUTERS, Rights, Democratic, Biden, Arab American Institute, Republican, Cornel West, Thomson Locations: Gaza, Washington , U.S, Arab, Israel, Michigan , Ohio, Pennsylvania, United States, U.S, Palestine

[1/2] Airplane model is placed on displayed Spirit Airlines and jetBlue Airways logos in this illustration taken, June 21, 2022. REUTERS/Dado Ruvic/Illustrations/File Photo Acquire Licensing RightsBOSTON, Oct 31 (Reuters) - The U.S. Department of Justice heads to trial on Tuesday to urge a federal judge to block JetBlue Airways' (JBLU.O) planned $3.8 billion acquisition of ultra-low-cost carrier Spirit Airlines. The trial will take place without a jury over about three weeks before U.S. District Judge William Young. A merger between JetBlue and Spirit, the sixth and seventh largest U.S. carriers, respectively, would mark the first major U.S. airline combination since Alaska Airlines bought Virgin America in 2016. The Justice Department alleges the merger would eliminate the pressure larger airlines, including JetBlue, face to lower their fares in response to competition from Spirit and cost consumers over $2 billion in higher fares annually.

Persons: Dado Ruvic, Joe Biden's, William Young, Young, Biden, Leo Sorokin, Nate Raymond, Alexia Garamfalvi, Nick Zieminski Organizations: Airlines, jetBlue Airways, REUTERS, Rights, U.S . Department of Justice, JetBlue Airways, Spirit Airlines, U.S, JetBlue, Spirit, Alaska Airlines, Virgin America, United Airlines, American Airlines, Delta Air Lines, Justice Department, Department, Democratic, District of Columbia, The, Big, American, Thomson Locations: Boston, U.S, New York City, Newark, Fort Lauderdale

The January contract of frozen concentrated orange juice (FCOJ) on the Intercontinental Exchange (ICE) hit an all-time high of $4.17 per pound during the session, before falling back to $3.83 per pound. Did anyone predict $4.00 orange juice? As a comparison, the most traded contract among the soft commodities, ICE's raw sugar, had over 435,000 lots in open interest. Ibiapaba Netto, executive director at CitrusBR, the association representing Brazilian juice producers, said that a reversal of the current tight supply situation would take time, and is not certain to happen. Brazil has a 75% share of the global orange juice trade.

Persons: Mohamed Abd El Ghany, Dave Reiter, OJ, Darin Fessler, Ibiapaba Netto, Netto, greening, Marcelo Teixeira, Nick Zieminski Organizations: REUTERS, Intercontinental Exchange, Reiter Capital Investments, CitrusBR, Thomson Locations: El Nobaria, Cairo, Egypt, New York, United States, Brazil, Mexico, U.S

[1/3] A state oil company PDVSA's logo is seen at a gas station in Caracas, Venezuela May 17, 2019. The restrictions were removed in response to a deal reached between the country's government and opposition parties for the 2024 election. JPMorgan's index team, which has made no statement as yet on the future treatment of the Venezuelan bonds, has reached out informally to investors to discuss the topic, the sources said. Venezuela and PDVSA have around $60 billion of international bonds outstanding, which are in default. The decision on index membership and weighting is taken by JPMorgan, though any changes usually follow consultations with investors.

Persons: Ivan Alvarado, Rodrigo Campos, Jorgelina, Rosario, Karin Strohecker, Christina Fincher, Nick Zieminski Organizations: REUTERS, JPMorgan, Reuters, Thomson Locations: Caracas, Venezuela, United States, PDVSA, Washington

☆ Judge keeps Donald Trump's $10,000 gag order fine amid civil fraud trial
▼ + stars: | 2023-10-26 | by ( Jack Queen | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +2 min

Former U.S. President Donald Trump attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, U.S., October 25, 2023. REUTERS/Jeenah Moon Acquire Licensing RightsOct 26 (Reuters) - A New York judge on Thursday reconsidered but ultimately stood by his decision to fine Donald Trump $10,000 for violating a gag order barring the former U.S. president from speaking publicly about court staff during his civil fraud trial. Engoron had agreed to reconsider on Thursday after a lawyer for Trump argued that the offending statement was not directed at his clerk. It is standard practice in New York state court for clerks to sit next to judges, with the witness box on the other side. He had fined Trump $5,000 on Oct. 20 after a screenshot of the since-deleted post remained visible on Trump’s campaign site for weeks.

Persons: Donald Trump, Arthur Engoron, Engoron, Trump, Joe Biden, Letitia James, Michael Cohen, Cohen, Jack Queen, Nick Zieminski Organizations: U.S, Trump Organization, Court, REUTERS, Trump, Republican, Democratic, Democratic New York, Thomson Locations: New York, Manhattan, New York City, U.S, York

☆ US economic growth accelerates in third quarter
▼ + stars: | 2023-10-26 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

Gross domestic product increased at a 4.9% annualized rate last quarter, the fastest since the fourth quarter of 2021, the Commerce Department's Bureau of Economic Analysis said in its advance estimate of third-quarter GDP growth. The economy grew at a 2.1% pace in the April-June quarter and is expanding at a pace well above what Fed officials regard as the non-inflationary growth rate of around 1.8%. While the robust growth pace notched last quarter is unlikely sustainable, it was testament to the economy's resilience despite aggressive interest rate hikes from the Federal Reserve. Growth could slow in the fourth quarter because of the United Auto Workers strikes and the resumption student loan repayments by millions of Americans. Since March, the U.S. central bank has raised its benchmark overnight interest rate by 525 basis points to the current 5.25% to 5.50% range.

Persons: Andrew Kelly, Lucia Mutikani, Nick Zieminski Organizations: REUTERS, Rights, Gross, Commerce Department's, Reuters, Federal Reserve, United Auto Workers, Labor, Labor Department, Treasury, Group's, Thomson Locations: Brooklyn , New York City, U.S

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. That was a relief to financial markets, roiled in recent weeks by a surge in government bond yields led by U.S. Treasuries. The central bank reiterated it would reinvest all the cash it receives from maturing bonds it holds under its 1.7 trillion euro pandemic-era bond scheme until the end of 2024. Instead, the ECB kept the emphasis on slowing inflation, raising investors' conviction that September's rate rise was the central bank's last. And inflation risks have not disappeared.

Persons: Heiko Becker, Christine Lagarde, Lagarde, Piet Christiansen, Gabriele Foa, reinvestments, Marcus Brookes, Sabrina Kanniche, Yoruk Bahceli, Naomi Rovnick, Amanda Cooper, Nick Zieminski Organizations: European Central Bank, REUTERS, ECB, U.S, Treasuries, Reuters, Danske Bank, The Bank of, Algebris, Quilter Investors, Asset Management, Thomson Locations: Frankfurt, Germany, Italy, Copenhagen, Israel, The Bank of Canada, wean, Ukraine

Companies Trump Organization Inc FollowNEW YORK, Oct 24 (Reuters) - Donald Trump's former lawyer and fixer Michael Cohen testified on Tuesday that he manipulated the values of the former U.S. president's real estate properties to match "whatever number Mr. Trump told us." Testifying as a key witness in New York Attorney General Letitia James' civil fraud case against Trump, Cohen said Trump tasked him and other former Trump Organization executives with doctoring financial statements to boost the value of the company's holdings and secure better real estate premiums. Speaking to reporters outside the courtroom when the trial ended for the day, Trump called Cohen a "disgraceful fellow." During about a half hour of cross-examination on Tuesday, Cohen - a disbarred lawyer - rattled off case law to support an objection by the attorney general to a question by Trump lawyer Alina Habba. James is seeking at least $250 million in fines, a permanent ban against Trump and his sons Donald Jr and Eric from running businesses in New York and a five-year commercial real estate ban against Trump and the Trump Organization.

Persons: Donald Trump's, Michael Cohen, Trump, Letitia James, Cohen, I'm, intently, Allen Weisselberg, James, Donald, COHEN, Colleen Faherty, Alina Habba, Nixon, Richard Nixon, Arthur Engoron, Engoron, Donald Jr, Eric, Jack Queen, Luc Cohen, Noeleen Walder, Nick Zieminski, Lisa Shumaker, Rod Nickel Organizations: Companies Trump Organization, Trump, Trump Organization, Democrat, Court, REUTERS, Supreme, Thomson Locations: U.S, New, New York, Manhattan, New York City, Russia, United States

Barclays Bank logo is seen in this illustration taken March 12, 2023. The redundancies account for about 3% of employees in the bank's U.S. consumer division, said the source, who declined to be identified discussing personnel matters. "These decisions are never easy and employees whose roles have been impacted will receive a full range of transition services." Venkatakrishnan said the lender will update investors on the areas impacted when Barclays reports full year results in February. The bank is already drawing up plans to cut hundreds of jobs in its domestic retail bank and cut staff in its investment bank, Reuters reported last month.

Persons: Dado Ruvic, C.S, Venkatakrishnan, murkier, Lananh Nguyen, Lawrence White, Chizu Nomiyama, Nick Zieminski Organizations: Barclays Bank, REUTERS, Barclays Plc, Barclays, Reuters, Thomson Locations: U.S, New York, London

☆ Goldman names Kamo as global head of dealmaking for financial sponsors
▼ + stars: | 2023-10-24 | by ( David French | ) www.reuters.com time to read: +1 min

[1/2] People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsOct 24 (Reuters) - Goldman Sachs Group Inc (GS.N) has appointed David Kamo as its global head of financial sponsor mergers and acquisitions within its investment bank, according to a memo seen by Reuters on Tuesday. As well as assuming his new global role with financial sponsors, Kamo will continue heading cross markets M&A for Goldman, the memo added. The cross markets group is the bank's unit which focuses on advising middle-market businesses. Kamo joined Goldman in 2016 and became a partner at the Wall Street giant in 2020.

Persons: Goldman Sachs, Andrew Kelly, David Kamo, Goldman, Kamo, David French, Nick Zieminski Organizations: REUTERS, Goldman Sachs Group Inc, Reuters, Lehman Brothers, Barclays, Thomson Locations: Manhattan , New York, U.S, New York

2 House Republican Steve Scalise and prominent conservative Jim Jordan. The task of choosing a new Republican nominee for the job of House speaker begins again on Monday at 6:30 p.m. EST (2230 GMT), when nine declared candidates, including No. 3 House Republican Tom Emmer, will appear at a closed-door candidate forum. McCarthy has endorsed Emmer, stressing his experience in working to marshal party votes on major legislation since January, when Republicans became the majority party in the House. House Republicans have been embroiled in chaos all year.

Persons: Jonathan Ernst, Kevin McCarthy, Republican Steve Scalise, Jim Jordan, Joe Biden, Michael McCaul, ABC's, Republican Tom Emmer, McCarthy, Emmer, NBC's, Matt Gaetz, Jordan, Donald Trump, Jack Bergman, Byron Donalds, Kevin Hern, Mike Johnson, Dan Meuser, Gary Palmer, Pete Sessions, Trump, Austin Scott, Biden, David Morgan, Kat Jackson, Andy Sullivan, Nick Zieminski Organizations: Capitol Hill, U.S . House, U.S, Capitol, REUTERS, Rights, Republicans, Republican, Foreign, House Republicans, Democratic, Thomson Locations: Washington , U.S, Israel, Ukraine

☆ Biden Holds Call With Key Western Allies, Pope to Discuss Israel-Hamas War
▼ + stars: | 2023-10-22 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +1 min

The White House reported Biden's separate calls with the Western leaders, Netanyahu and Pope Francis amid growing fears that the Israel-Hamas war could mushroom into a wider Middle East conflict as Israel pounded Gaza and clashes on its border with Lebanon intensified. It was not immediately clear why Biden's call with the Western leaders did not include Japan. Biden convened a virtual meeting of the G7 after Russia's invasion of Ukraine in February 2022. Biden and the Catholic leader discussed "the need to prevent escalation in the region and to work toward a durable peace in the Middle East," the White House said. (Reporting by Andrea Shalal and Kanishka Singh in Washington; Editing by Nick Zieminski and Lisa Shumaker)

Persons: Andrea Shalal, Kanishka Singh, Joe Biden, Benjamin Netanyahu, Israel, Netanyahu, Pope Francis, Biden, Nick Zieminski, Lisa Shumaker Organizations: Reuters, Sunday, Hamas, White Locations: Kanishka Singh REHOBOTH BEACH , Delaware, Israel, Palestinian, Canada, France, Britain, Germany, Italy, Gaza, Lebanon, Japan, Morocco, Ukraine, Washington

☆ French president Emmanuel Macron to visit Israel in coming days
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: 1 min

French President Emmanuel Macron attends a video-conference with the families of French hostages by the Hamas militants who had entered Israel from the Gaza Strip, at the Elysee Palace in Paris, France, October 20, 2023. REUTERS/Benoit Tessier/Pool/File photo Acquire Licensing RightsPARIS, Oct 22 (Reuters) - French president Emmanuel Macron will visit Israel in coming days, the Israeli Prime Minister's office said on Sunday. Macron and Dutch Prime Minister Mark Rutte "will arrive tomorrow and Tuesday and will meet with Prime Minister Netanyahu," it said on Sunday in a post on X. The Elysee has not yet confirmed the visit. Reporting by Elizabeth Pineau, Layli Foroudi Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Emmanuel Macron, Benoit Tessier, Mark Rutte, Netanyahu, Elizabeth Pineau, Nick Zieminski Organizations: REUTERS, Rights, Israel, Dutch, Thomson Locations: Israel, Gaza, Paris, France

The White House reported Biden's separate calls with the Western leaders, Netanyahu and Pope Francis amid growing fears that the Israel-Hamas war could mushroom into a wider Middle East conflict as Israel pounded Gaza and clashes on its border with Lebanon intensified. It was not immediately clear why Biden's call with the Western leaders did not include Japan. U.S. President Joe Biden has demonstrated unwavering support for Israel's security over a half century in public life. Biden and the Catholic leader discussed "the need to prevent escalation in the region and to work toward a durable peace in the Middle East," the White House said. Reporting by Andrea Shalal and Kanishka Singh in Washington; Editing by Nick Zieminski and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Benjamin Netanyahu, Israel, Netanyahu, Pope Francis, Biden, Read, Andrea Shalal, Kanishka Singh, Nick Zieminski, Lisa Shumaker Organizations: Sunday, Hamas, White, Israeli, Thomson Locations: REHOBOTH BEACH , Delaware, Israel, Palestinian, Canada, France, Britain, Germany, Italy, Gaza, Lebanon, Japan, Morocco, Tel Aviv, Ukraine, Washington

Aside from McCarthy and Jordan, Republicans have also rejected their No. That plan would give more authority to Republican Representative Patrick McHenry, who is filling the speaker's chair on a temporary basis. He helped to engineer government shutdowns in 2013 and 2018 and helped to push Republican Speaker John Boehner into retirement in 2015. Jordan's vote total of 194 was less than McCarthy netted in 15 grueling rounds of voting in January. Jordan's Republican opponents declined to celebrate in the wake of his defeat.

Persons: Republican Jim Jordan's, Joe Biden's, Jordan, Kevin McCarthy, Biden, McCarthy, Steve Scalise, Lawmakers, Austin Scott, Kevin Hern, Jodey Arrington, Patrick McHenry, Jim Jordan, Jonathan Ernst, McHenry, Donald Trump, Biden's, I've, shutdowns, John Boehner, Jordan's, Scott Perry, he's, Katherine Clark, Mario Diaz, David Morgan, Katharine Jackson, Gram Slattery, Andy Sullivan, Scott Malone, Chizu Nomiyama, Nick Zieminski, Grant McCool Organizations: Republican, U.S . House, Republicans, U.S, Sunday, U.S ., House Democrats, U.S . Rep, Capitol, REUTERS, Financial Services, White, Democratic, Thomson Locations: Ukraine, Israel, Washington , U.S

I don't know if that's a newsflash for anybody here," Republican Representative Scott Perry said. Republican Representative Jodey Arrington, who has been floated as an alternative, said he was backing Jordan for now. That plan would give more authority to Republican Representative Patrick McHenry, who is filling the speaker's chair on a temporary basis. House Democrats and the White House have said they are open to the idea, but Republicans rejected it on Thursday. He helped to engineer government shutdowns in 2013 and 2018 and helped to push Republican Speaker John Boehner into retirement in 2015.

Persons: Jim Jordan, Jonathan Ernst, Republican Jim Jordan, Joe Biden's, Jordan, Biden, Donald Trump, Biden's, I've, Kevin McCarthy, McCarthy, Scott Perry, he's, Katherine Clark, Jodey Arrington, Patrick McHenry, PETTY, shutdowns, John Boehner, David Morgan, Katharine Jackson, Gram Slattery, Andy Sullivan, Scott Malone, Grant McCool, Chizu Nomiyama, Nick Zieminski Organizations: U.S . Rep, U.S, Capitol, REUTERS, Rights, Republican, U.S . House, Representatives, Democratic, House Democrats, Investors, White, Thomson Locations: Washington , U.S, Ukraine, Israel

[1/4] Vehicles of Russian state-controlled broadcaster Russia Today (RT) are seen near the Red Square in central Moscow, Russia June 15, 2018. Russia "utilizes both overt and covert mechanisms, including influence networks and proxies managed" by Russian spy services, the report said. As an example, it continued, Russia's FSB security service secretly worked to intimidate election workers, organize election day protests and "sabotage overseas voting" in an unnamed European country's 2020 election. Russia also used social media platforms and "proxy websites" to sow doubts about the integrity of elections, it said. The report recommended that countries work to mitigate Russian election interference through sanctions, information sharing, expulsions of Russian spies and travel bans.

Persons: Gleb Garanich, Washington, Joe Biden, Donald Trump, Jonathan Landay, Nick Zieminski Organizations: Russia, REUTERS, Rights, State Department, Ukraine, Democrat, Republican, Thomson Locations: Moscow, Russia, United States, U.S, Russian, Americas, Europe, Asia, Africa, Washington, East, South America, China

That was the discussion," Republican Representative Vern Buchanan told reporters. House Democrats and the White House have said they are open to that idea, but many Republicans rejected it. "At this point, we're not going to have any kind of other resolution on this," said Republican Representative Blaine Luetkemeyer. 2 House Republican Steve Scalise last week. One of those, Representative Drew Ferguson, said in a statement on Thursday: "The House Republican Conference does not need a bully as the speaker."

Persons: Jim Jordan, Russell Dye, Jordan, Vern Buchanan, he's, Kevin McCarthy, Patrick McHenry, we're, Blaine Luetkemeyer, Joe Biden, Leah Millis, Republican Steve Scalise, Drew Ferguson, McCarthy, shutdowns, Biden's, Biden, David Morgan, Makini Brice, Moira Warburton, Katharine Jackson, Nandita Bose, Davide Barbusca, Julio, Cesar Chavez, Andy Sullivan, Scott Malone, Nick Zieminski, Grant McCool, Deepa Babington Organizations: U.S . House, Republicans, Republican, Democrats, Democratic, Republican Conference, U.S, Capitol, REUTERS, AS, House Republican Conference, White, Thomson Locations: Ukraine, Israel, Washington , U.S, Washington

Jordan, who has lost two votes for speaker this week, emerged from an hours-long closed-door meeting with fellow Republicans to say he would press ahead with a third vote. It was not clear when the House would vote again on a speaker. House Democrats and the White House have said they are open to that idea, but many Republicans rejected it. He told fellow Republicans on Thursday that he would drop out of the speaker's race if his opponents were unmoved after talking with him, two lawmakers said. One of those, Representative Drew Ferguson, said in a statement on Thursday: "The House Republican Conference does not need a bully as the speaker."

Persons: Jim Jordan, Jordan, House Pro Tempore Patrick McHenry, Kevin McCarthy, Patrick McHenry, we're, Blaine Luetkemeyer, Joe Biden, Republican Steve Scalise, Drew Ferguson, McCarthy, shutdowns, Biden's, Biden, David Morgan, Makini Brice, Moira Warburton, Katharine Jackson, Nandita Bose, Davide Barbusca, Julio, Cesar Chavez, Andy Sullivan, Scott Malone, Nick Zieminski, Grant McCool Organizations: U.S . House, House Pro Tempore, Republicans, House Democrats, Democratic, AS, Republican, House Republican Conference, White, Democrats, Thomson Locations: WASHINGTON, Ukraine, Israel, Washington

It was unclear what stake JFE was seeking or what price it was offering. Japan's Nippon Steel (5401.T) has previously said it was looking to buy a 10% stake in Teck's coal business for C$1.15 billion, valuing the overall business at about C$11.5 billion, with an option of increasing its stake to 17.5%. Glencore has said it will consider buying the coal business for about $8.5 billion. JFE Steel holds 15% equity in India's JSW Steel (JSTL.NS), which was also exploring an investment in Teck's coal business. Price said the company had two options -- a 100% sale of the coal business for cash or a partial sale of the coal business, with proceeds going to growing the copper business.

Persons: Chris Helgren, Glencore, Major steelmakers, Teck, JFE, Jonathan Price, Price, Divya Rajagopal, Neha Arora, Denny Thomas, Nick Zieminski, Rod Nickel Organizations: Teck Resources, Developers Association of Canada, REUTERS, Rights, JFE Steel Corp, Canada's Teck Resources, Reuters, Japan's Nippon Steel, JFE Steel, JSW, Thomson Locations: Teck, Toronto , Ontario, Canada, Canada's Teck, Russia, JFE, Tokyo, Australia, Swiss, Toronto, India

Asked what he expected as he entered a closed-door meeting with other Republicans, Jordan said only, "I'm not gonna know until I talk to my colleagues." "I can't believe we're going down this route," Republican Representative Jim Banks said. AFTERNOON VOTE POSSIBLEThe House could vote on that proposal in the afternoon, said Republican Representative Marjorie Taylor Greene, who said she does not support it. "Right now the Republican agenda, conservative agenda, is totally derailed," said Republican Representative Mario Diaz-Balart, a Jordan opponent. 2 House Republican, won his party's endorsement last week but dropped out after he was unable to consolidate support.

Persons: House Pro Tempore Patrick McHenry, Jim Jordan, Republican Patrick McHenry, Jordan, McHenry, Kevin McCarthy's, Joe Biden, Jim Banks, Marjorie Taylor Greene, Donald Trump, Mario Diaz, Kevin McCarthy, Steve Scalise, Don Bacon, undercutting, Jordan's, shutdowns, Joe Biden's, Biden, David Morgan, Moira Warburton, Makini Brice, Katharine Jackson, Davide Barbusca, Julio, Cesar Chavez, Andy Sullivan, Scott Malone, Grant McCool, Nick Zieminski Organizations: House Pro Tempore, U.S . Rep, U.S . House, Representatives, Republican, Republicans, Democratic, U.S, White, Democrats, Thomson Locations: WASHINGTON, Washington, Ukraine, Israel

Felipe Villarroel, portfolio manager at TwentyFour Asset Management, said he recently swapped some 10-year Treasuries for higher yielding 30-year Treasuries. At these levels, yields give “a massive cushion in your total returns" to protect against bond prices falling further, he said. Yields on the benchmark 10-year U.S. Treasury were over 4.95% in Asia trade on Thursday, their highest level in more than 16 years, and 30-year yields breached 5% this month for the first time since 2007. An auction of 30-year U.S. Treasuries showed weak demand last week, sending yields higher. "The tightness that (bond yields) are imposing on the economy and markets is rising ... this caps the extra work the Fed needs to do," said Smith.

Persons: Jerome Powell, David Rubenstein, Amanda Andrade, Rhoades, Felipe Villarroel, Treasuries, Matt Smith, Ruffer, Buyers, Leslie Falconio, Ruffer's Smith, Smith, Davide Barbuscia, Michelle Price, Ira Iosebashvili, Nick Zieminski Organizations: Federal, Economic, of Washington, Washington , D.C, REUTERS, Treasuries, TwentyFour Asset Management, Bank of America Global Research, Treasury, UBS Global Wealth Management, BlackRock Investment Institute, Thomson Locations: Washington ,, Asia

"The UAW is holding the deal hostage over battery plants," said Ford Chief Executive Jim Farley on Sept. 29. Since then, the union has not announced an agreement on battery plant issues with GM or the other automakers. Stellantis and Samsung SDI (006400.KS) have announced plans to build two EV battery plants in Kokomo, Indiana, employing up to 2,800 workers in total. Ford officials have not disclosed details of their proposals for battery plant wages or unionization. Yet, we are very open to working with them on a way forward on the battery plants," Ford executive Kumar Galhotra said on Oct. 12 of talks with the UAW.

Persons: Shawn Fain, bargainers, Jim Farley, Fain, Ultium, Joe Biden's, CATL, Tesla, Stellantis, haven't, Kumar Galhotra, Joe White, Nick Zieminski Organizations: DETROIT, United Auto Workers, Detroit Three, General Motors, Ford, Chrysler, UAW, Detroit, GM, Ultium, Tesla, Samsung SDI, Thomson Locations: Northeast Ohio, Detroit, U.S, Michigan, Belvidere , Illinois, KS, Kokomo , Indiana

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