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MANILA, July 24 (Reuters) - Philippines President Ferdinand Marcos Jr on Monday touted his administration's successes over the past year, including battling inflation and steering the economy back on track, but said a number of economic challenges lie ahead. After more than a year in office, buffeted by soaring inflation that has dented economic growth, the government is now "stabilising the prices of all critical commodities", Marcos said. "Inflation rate is moving in the right direction," he said in his second state of the nation address. Developing the long-neglected farm sector, which contributes 10% of the country's economic output, is a priority for Marcos, who also helms the agriculture ministry. The Philippines remains vulnerable to global price shocks because it buys a sizeable portion of its rice overseas, and relies on imports for most of its fuel requirements.

Persons: Ferdinand Marcos Jr, Marcos, helms, Michael Ricafort, Enrico dela Cruz, Eloisa Lopez, Bernadette Baum, Mark Potter Organizations: Rizal Commercial Banking Corp, Asia's, Thomson Locations: MANILA, Philippines, Philippine, Rizal, China, Manila, United States

☆ New leader of Moldovan region thanks exiled patron, backs ties with Russia
▼ + stars: | 2023-07-20 | by ( Alexander Tanas | ) www.reuters.com time to read: +2 min

CHISINAU, July 19 (Reuters) - The new leader of Moldova's region of Gagauzia expressed gratitude at her inauguration on Wednesday to a wealthy magnate jailed in absentia for fraud and stood by her calls for closer ties with Russia. The region's 140,000 residents have had an uneasy relationship with Moldovan authorities in three decades of independence from Soviet rule. Gutul pledged to uphold good ties with Turkey and Russia, as well as with Moldova's neighbours, Ukraine and Romania. In the election campaign, contested by a slate of pro-Russian candidates, she pledged to build closer ties with Russia and open a diplomatic mission in Moscow. Reporting by Alexander Tanas in Chisinau; Editing by Ron Popeski and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

Persons: Gagauzia, Maia Sandu, Yevgeniya, Ilan Shor, Shor, Ilan, Gutul, Shor's, Sandu's, Alexander Tanas, Ron Popeski, Grant McCool Organizations: European Union, Moldovan, Moldova's Constitutional, Sandu's PAS, Thomson Locations: CHISINAU, Russia, Moldova, Ukraine, Israel, Gagauzia, Chisinau, Turkey, Romania, Moscow, Transdniestria, Russian

☆ Moldova separatist leader vows to solve opposition politician's suspected murder
▼ + stars: | 2023-07-18 | by ( Alexander Tanas | ) www.reuters.com time to read: +2 min

CHISINAU, July 19 (Reuters) - The president of Moldova's separatist pro-Russian Transdniestria region vowed on Tuesday to solve the suspected murder of an opposition politician who was a rare advocate of reconciliation with the country's pro-European government. Opposition politician Oleg Horgan was found dead in his home this week, apparently after being struck with a heavy object. Transdniestria President Vadim Krasnoselsky said he would take "personal control" of the investigation. A parliamentary committee summoned a special sitting of the assembly to discuss the suspected murder later in the week. Moldova has embarked on a drive to join the EU since the 2020 election of President Maia Sandu, who has roundly denounced Russia's invasion of Ukraine.

Persons: Transdniestria, Oleg Horgan, Oleg Serebrean, Vadim Krasnoselsky, Krasnoselsky, Horgan, Maia Sandu, Sandu, Ronald Popeski, Sonali Paul Organizations: Organization for Security, Cooperation, European Union, EU, Communist, Sheriff, Moldovan, Civic Congress, Russian, Thomson Locations: CHISINAU, Russian, Moldova, Europe, Ukraine, Russia, Transdniestria, Moscow

☆ In Hollywood, the Strikes Are Just Part of the Problem
▼ + stars: | 2023-07-15 | by ( Brooks Barnes | More About Brooks Barnes | ) www.nytimes.com time to read: +1 min

Existential hand-wringing has always been part of Hollywood’s personality. But the crisis in which the entertainment capital now finds itself is different. They joined 11,500 already striking screenwriters, who walked out in May over similar concerns, including the threat of artificial intelligence. Actors and writers had not been on strike at the same time since 1960. “Now it’s a walled-in vacuum.”

Persons: wringing, ’, ” Fran Drescher

Against this backdrop, CNBC Pro used FactSet data to screen for stocks most vulnerable to a short squeeze. A short squeeze occurs once a shorted stock climbs higher, forcing investors who have short bets on shares to cover their positions. Novavax , meanwhile, has about 42% short interest from investors. Overall, short interest in the name increased 8.7% between June 15 and June 30. See below for the full rundown of potential short squeeze targets.

Persons: there's, Novavax Organizations: Nasdaq, Dow Jones, JPMorgan, CNBC Pro, New York Stock Exchange, Sunnova Energy Locations: Canada

☆ Indiana Jones, John Williams and the Art of Music You Can Barely Hear - The New York Times
▼ + stars: | 2023-07-07 | by ( Frank Lehman | ) www.nytimes.com time to read: +12 min

I’ve been fascinated with film music since elementary school, when I got a cassette tape called “Kid Stuff: An Afternoon at the Movies,” which featured Mr. Williams and the Boston Pops. No one exemplifies this better than Mr. Williams, who is still composing at 91. Mr. Williams accomplished this by inviting the trumpet section of the London Symphony Orchestra to blast away in its most piercing register. As he has with other cues, Mr. Williams has given this particular set piece an afterlife in concert performances. Keep your eyes shut!” Maybe then we’ll stop passively hearing film music and begin actively listening to it.

Persons: Indiana Jones, John Williams, doesn’t, He’s, I’ve, Williams, ”, Dvorak, Stravinsky, Bach, extol, Gene Shalit, “, —, “ Indiana Jones, you’ll, Kate Capshaw’s, Willie Scott, That’s, it’s, Mickey Mousing, Emilio Audissino, Daniel Goldmark, ” Mr, Mickey Mouser, Guy ”, Mousing, Beyoncé’s, Marion Ravenwood, Marion Organizations: Raiders, “ Star, “ Raiders, Boston Pops, London Symphony Orchestra, Berlin Philharmonic, ”, Hollywood, “ Locations: “, Indiana

Reuters GraphicsAnalysts said the data underlined that once-booming ESG funds were no longer immune from wider market dynamics. BELOW PEAKNet assets across ESG funds fell in the second quarter and to below recent peaks, according to Refinitiv. Morningstar's global director of sustainability research, Hortense Bioy, said their preliminary data suggested demand for more stringent ESG funds appeared resilient. However, she said that managers' desire to meet European Union regulations had encouraged some firms to reclassify their ESG funds as traditional products, impacting investor flows. The anti-ESG backlash had also hit U.S. firms' appetite for marketing sustainable funds, "which has had an impact on sales," Bioy said on the sidelines of a conference this week.

Persons: outpacing, Edward Glyn, ESG, Hortense Bioy, Bioy, Tommy Reggiori Wilkes, Patturaja, David Holmes Organizations: Equity, Reuters, Reuters Graphics Analysts, outflows, ESG, Reuters Graphics, Thomson Locations: Europe, United States, Calastone

☆ Hawaiian Airlines: 7 injured during severe turbulence on flight from Hawaii to Australia
▼ + stars: | 2023-07-04 | by ( Sara Smart | ) edition.cnn.com time to read: +1 min

CNN —Seven people were injured on a Hawaiian Airlines flight to Sydney, Australia, on Friday when the plane was buffeted by severe turbulence, the airline confirmed. The turbulence struck about five hours after the plane departed from Honolulu Friday afternoon, a Hawaiian Airlines spokesperson told CNN. Hawaiian Airlines said it has been in contact with the passenger but was not able to provide an update on their condition as of Monday evening. The incident comes months after severe turbulence on a Hawaiian Airlines flight injured 36 people flying from Arizona to Honolulu in December, requiring 20 people to be taken to emergency rooms, CNN reported. In March, severe turbulence on a private jet resulted in the death of a former White House official, just days after 7 people were transported to hospitals after a separate commercial flight hit significant turbulence.

Organizations: CNN, Hawaiian Airlines, Federal Aviation Administration, National Transportation Safety, White House Locations: Sydney, Australia, Honolulu, Arizona

☆ Moldova airport shooting suspect in coma, wanted in Tajikstan for abduction
▼ + stars: | 2023-07-01 | by ( Alexander Tanas | ) www.reuters.com time to read: +2 min

CHISINAU, July 1 (Reuters) - The chief suspect in a shootout in Moldova's main international airport remained in a coma on Saturday and was wanted in his native Tajikistan in connection with the abduction of a bank officer, Moldovan authorities said. The 43-year-old man grabbed a gun and shot dead two security officers and wounded a civilian on Friday after being denied entry to ex-Soviet Moldova, they said. Musteata said the suspect would be tried in Moldova and face an aggravated murder charge "if he survives". Moldova, lying between Ukraine and European Union member Romania, has been severely buffeted by the war in Ukraine. President Maia Sandu has denounced Russia's invasion and set EU membership of her country as the top foreign policy priority.

Persons: Ion Musteata, Dragos Galbur, Musteata, Maia Sandu, Ron Popeski, David Gregorio Our Organizations: Moldova, Officials, European Union, Romania, Thomson Locations: CHISINAU, Tajikistan, Soviet Moldova, Istanbul, Moldovan, Moldova, Soviet, Central Asia, Dushanbe, Chisinau, Ukraine

How has the smoke affected air quality in the American Midwest? Image Chicago on Tuesday, where the Air Quality Index reached “very unhealthy” levels. Canada wildfires Burned Hotspots Source: Canadian Wildland Fire Information SystemHow far has Canadian wildfire smoke spread? In Canada, Environment Canada warned Tuesday that air quality would deteriorate overnight in Toronto, Canada’s largest city and financial capital. Poor air quality has also buffeted Montreal, where the sun has appeared in recent days as a lurid red dot.

Persons: Kamil Krzaczynski, Judson Jones Organizations: NASA, Agence France, Canadian Interagency Forest Fire Centre, Environment Locations: Canada, Quebec, American, Europe, Coast, United States, New York City, Washington, Minnesota, Chicago, Detroit, Milwaukee, Swiss, Green Bay, Wis, Grand Rapids, Mich, East, ., Portugal, Spain, France, Toronto, Canada’s, Montreal, Mont Tremblant, Ontario, New York

Pig prices soared in Europe last year as output was cut by farms squeezed by high grain and energy costs. The EU pork industry has been buffeted in the past decade by a Russian trade embargo, the westward spread of African swine fever and the COVID-19 pandemic. "We're continuing to add costs to the overall pork production chain," Justin Sherrard, global strategist for animal protein at Rabobank, said. That may mean EU pork exports, whose share of production more than doubled to 21% between 2000 and 2020, have peaked. But an inflationary economy may make consumers less ready to accept rising pork prices and deepen a shift towards chicken as a cheaper, more convenient option.

Persons: Carole Joliff, Joliff, Jean, Paul Simier, AKI, We're, Justin Sherrard, slaughterhouses, Klaus Kaiser, FICT, Rabobank's Sherrard, jamon serrano, prosciutto, Tim Koch, Gus Trompiz, Forrest Crellin, Michael Hogan, Johannes Birkebaek, Emma Pinedo, Toby Sterling, David Evans Organizations: European Union, Commission, Rabobank, BLE, Danish Crown, AMI, Thomson Locations: PARIS, Brittany, Europe, Russian, Hungarian, China, Japan, Denmark, Netherlands, Danish, France, Brazil, United States, Germany, EU, Paris, Hamburg, Copenhagen, Madrid, Amsterdam

☆ What All the Single Ladies (and Men) Say About the Economy
▼ + stars: | 2023-06-09 | by ( Jeanna Smialek | Jason Karaian | ) www.nytimes.com time to read: +1 min

Aftershocks from the coronavirus pandemic continue to rumble across the U.S. economy, and Signet Jewelers shared a surprising one this week: The company is selling fewer engagement rings this year because, it says, singles who were stuck at home during lockdowns failed to meet their would-be fiancés in 2020. Shares of Signet, the largest jewelry retailer in the United States, tumbled after the company cut its forecasts for sales and profit for the rest of the year. In a way, the engagement ring has become a sparkly microcosm of the American economy. The bridal jewelry business is being buffeted by the delayed effects of the pandemic, rapid inflation that is squeezing consumers and a growing sense of nervousness among shoppers. Some of the volatility is owed purely to the pandemic.

Persons: lockdowns, Kay Organizations: Signet Jewelers, Signet, Kay Jewelers, Zales Locations: U.S, Virginia, United States

It reinforced Erdogan's image of invincibility in the deeply divided NATO-member country, whose foreign, economic and security policy he has redrawn. Pro-government newspapers, part of an overwhelmingly pro-Erdogan media landscape that buoyed his election campaign in the nation of 85 million people, cheered his victory. Erdogan said inflation, which hit a 24-year peak of 85% last year before easing, is Turkey's most urgent issue. Turkey's main pro-Kurdish party, parliament's third largest, was among the opposition parties opposed to Erdogan and is accused of links to Kurdish militants, which it denies. Erdogan, head of the Islamist-rooted AK Party, appealed to voters with nationalist and conservative rhetoric in a divisive campaign that deflected attention from Turkey's economic problems.

The European Business Aviation Convention & Exhibition (EBACE), hosted in Geneva, kicks off on Tuesday and brings together everyone from brokers, planemakers to engine producers. CO2 emissions from private jets in Europe grew by 31% between 2005 and 2019, according to environmental group Transport and Environment. Protesters are expected to gather on Tuesday outside the conference location in Geneva to highlight the rising number of private jet flights amidst a worsening global climate crisis. "The big innovations are usually deployed first in our industry," Kok said. Business jet flights have dropped in Europe by around 6% compared with the same time in 2022, WINGX data showed.

☆ A ‘Canadian Armageddon’ Sets Parts of Western Canada on Fire
▼ + stars: | 2023-05-19 | by ( Dan Bilefsky | ) www.nytimes.com time to read: +1 min

British Columbia was the site in 2021 of one of Canada’s worst wildfires in recent decades, when fires decimated the tiny community of Lytton after temperatures there reached a record 49.6 degrees Celsius, or 121.3 Fahrenheit. Not since the worst of the Covid-19 pandemic buffeted the region has the area been so overcome by apprehension, accompanied by the all-too familiar need to wear masks outside. Only this time, residents say, a silent killer has been replaced by something more visceral and visible. The bulk of the fires are in the far north of the province, home to many Indigenous communities, dealing a heavy blow to people who depend on the land and natural resources. He worried how they would get by.

☆ In Taiwan, former UK PM Truss warns against appeasing China
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, May 17 (Reuters) - Former British prime minister Liz Truss will say in Taiwan on Wednesday that the West must avoid appeasing China and show unwavering support for the self-governed island, in a speech that risks further damaging Britain's relations with Beijing. Truss is the most well-known British politician to visit Taiwan since former prime minister Margaret Thatcher in the 1990s, and her trip comes at a time when relations between Britain and China are the worst in decades. China claims Taiwan as its own and has not renounced the use of force to ensure eventual unification. Beijing has previously condemned visits by British lawmakers to Taiwan for what it calls interference in China's internal affairs. "There are still too many in the West who are trying to cling on to the idea that we can cooperate with China on issues like climate change," Truss will say.

The narrowing rate differentials between the U.S. and Europe, as markets price in more European rate increases than in the U.S., has been boosting European currencies in recent months. The Fed has guided markets away from the possibility of rate cuts this year, though markets are pricing them in nonetheless. The European Central Bank announces its rate decision later in the day. "So I think central banks, including the Fed, are at or very near the peak in their cash rates." The Norwegian crown took a short trip after Norway's central bank raised interest rates by 25 basis points as expected.

☆ Dollar falls after Fed signals pause; banking woes dent confidence
▼ + stars: | 2023-05-04 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

"Additional tightening may be needed ... but the FOMC does not appear to be pre-committing to another rate hike on June 14." The U.S. dollar index was last 0.12% lower at 101.11, after dropping more than 0.6% in the previous session. "There are a lot of concerns in the U.S. around the banking sector and the crunch on credit. "So I think central banks, including the Fed, are at or very near the peak in their cash rates." The European Central Bank (ECB) comes under the spotlight next, where expectations are for ECB policymakers to raise interest rates for the seventh meeting in a row later on Thursday.

☆ Toronto home prices rise for third month in April
▼ + stars: | 2023-05-03 | by ( Fergal Smith | ) www.reuters.com time to read: +1 min

[1/2] A for sale sign is displayed outside a home in Toronto, Ontario in Toronto, Ontario, Canada December 13, 2021. The average price of a GTA home rose to C$1.153 million ($846,425) in April, up 4% from March, Toronto Regional Real Estate Board (TRREB) data showed on Wednesday. On a year-over-year basis, the average price remained lower, but the pace of decline slowed to 7.8% from 14.6% in March. The average price was 13.6% below the February 2022 peak. "Many buyers have come to terms with higher borrowing costs and are taking advantage of lower selling prices compared to this time last year," TRREB President Paul Baron said in a statement.

☆ BBC Chairman Resigns Over Offer to Facilitate Loan to Boris Johnson
▼ + stars: | 2023-04-28 | by ( Max Colchester | ) www.wsj.com time to read: 1 min

A screen inside the BBC’s headquarters broadcasts a statement by Richard Sharp. Photo: HENRY NICHOLLS/REUTERSLONDON—The chairman of the BBC, Richard Sharp , quit Friday after an investigation concluded he breached the U.K. government code for public appointments by failing to declare that he offered to facilitate a loan to former British Prime Minister Boris Johnson while applying for the job at the publicly funded broadcaster. The decision by Mr. Sharp, a former Goldman Sachs Group Inc. banker, to step down is the latest scandal to wash over the British Broadcasting Corp., which has been buffeted by a series of missteps that critics say has dented its image as an independent, impartial broadcaster and raised questions over whether it has bowed to pressure from the ruling Conservative government.

Growth came mostly from exports, the result of a revival in global trade as China re-opened for business after the pandemic. But national data showed price growth remained stubbornly high, probably leaving the ECB with no choice but to keep raising interest rates. Friday's inflation data showed progress was slow. IMF CALLS FOR MORE RATE HIKESMoney markets currently price in another 70 basis points of ECB rate hikes by October, possibly followed by cuts as early as the start of next year. It also said European Union finance ministers should tighten fiscal policy in concerted action to bring down high inflation, which would probably depress consumption further.

☆ The Eurozone Economy Shows Signs of Modest Growth
▼ + stars: | 2023-04-28 | by ( Liz Alderman | ) www.nytimes.com time to read: +2 min

Why It Matters: The eurozone economy has regained its footing — for now. But countries swiftly stockpiled energy reserves, and a mild winter, together with mass conservation efforts, helped Europe avoid the worst. The data show that the eurozone economy is regaining its footing — though only slowly. On an annual basis, growth contracted in the first quarter from a year ago by0.1 percent in the eurozone’s largest economy. Growth picked up in Italy, Belgium and Spain, and jumped further ahead in Portugal, where the economy expanded 1.6 percent in the first three months.

That's a good reason to pause after one more rate increase, he said, to study how the economy and inflation evolve, and try to limit the damage to growth and jobs. 'HAD TO DOWNSHIFT'The Atlanta Fed chief spoke in detail about how the recent turmoil in banking markets buffeted his monetary policy views. At first, high inflation made him open to a half-percentage-point increase at the March 21-22 Fed meeting. Indeed, Bostic sketched out why he still believes the inflation battle can be won without a recession or even much of a rise in the unemployment rate. People and businesses "are sitting in a financial condition that is abnormal, and abnormal in a way that would drive excess consumption," Bostic said.

☆ Spotlighting Lady Macbeth’s Anguish: Can What’s Done Be Undone?
▼ + stars: | 2023-04-13 | by ( Oussama Zahr | ) www.nytimes.com time to read: +2 min

Macduff, the chorus, Macbeth’s big Act IV aria — all scrapped. In typical stagings, Lady Macbeth comes across as an unsubtle, unrepentant harridan whose abrupt crisis of conscience in the opera’s final act stretches credulity. Heartbeat starts with Lady Macbeth’s breakdown as the essential truth of her character and then molds the narrative to fit it. The show begins with Lady Macbeth in bed, sobbing uncontrollably, full of remorse for all the blood she has helped to shed. In Heartbeat’s telling, Lady Macbeth, no longer the scapegoat for her husband’s foul behavior, is the one who is led astray by an avaricious spouse.

☆ Juul to pay $462 million to settle youth vaping claims from six states, D.C.
▼ + stars: | 2023-04-12 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Juul will pay $462 million to settle claims by six states and Washington D.C. that the vaping company marketed its addictive e-cigarettes to underage teens, five Democratic attorneys general announced Wednesday. The states that reached the settlement with Juul are New York, California, Massachusetts, New Mexico, Illinois and Colorado. New York will get $112.7 million over an eight-year period, which will support underage vaping abatement programs across the state. The FDA also ordered Juul to stop selling its vaping products last June. It added that youth use of tobacco products in any form is unsafe.

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