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☆ What to expect from the jobs report: Steady, but cooler growth
▼ + stars: | 2023-08-04 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

But markets and economists are expecting another solid jobs report Friday morning. And while economic data isn’t typically the sexiest of topics, the government’s jobs report has in recent months delivered plenty of excitement and its fair share of surprises. Last July, for example, the US economy added 568,000 jobs — more than double the 250,000 that economists had expected. Come Friday, the government’s jobs report for this July might not end up being quite so shocking. In fact, it could be relatively humdrum: A slight cooling in job growth, and unemployment holding steady.

Persons: Minneapolis CNN — Fitch, ”, Daniel Zhao, Refinitiv, Chris Rupkey, That’s, Michael Gapen, Janet Yellen, Glassdoor’s Zhao, ” Zhao, there’s, ” Andy Challenger, Challenger, ” Gus Faucher, they’re, Becky Frankiewicz, “ Organizations: Minneapolis CNN, Glassdoor, Bank of America, ” Bank of America, Business, Conference Board, Fitch, Challenger, “ Companies, Labor Department, “, PNC Financial Services Group, CNN, Labor Statistics, BLS, “ Employers, ManpowerGroup Locations: Minneapolis, United States

☆ What to expect from the July jobs report: Steady, but cooler growth
▼ + stars: | 2023-08-03 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Minneapolis CNN —Despite Tuesday’s credit rating downgrade amid concerns about the challenges facing the United States, markets and economists are expecting another solid jobs report on Friday. And while economic data isn’t typically the sexiest of topics, the monthly jobs report has in recent months delivered plenty of excitement and its fair share of surprises. Come Friday, the government’s jobs report for this July might not end up being quite so shocking. In fact, it could be relatively humdrum: A slight cooling in job growth, and unemployment holding steady. The broader economic scorecard for the United States makes the downgrade all the more “bizarre” and puzzling, noted top economists, including Treasury Secretary Janet Yellen.

Persons: ”, Daniel Zhao, Refinitiv, Chris Rupkey, That’s, Michael Gapen, Janet Yellen, Glassdoor’s Zhao, ” Zhao, there’s, ” Andy Challenger, Challenger, Gus Faucher, they’re, Becky Frankiewicz, “ Organizations: Minneapolis CNN, Glassdoor, Bank of America, ” Bank of America, Fitch, Challenger, “ Companies, PNC Financial Services Group, CNN, Labor Statistics, BLS, “ Employers, ManpowerGroup Locations: Minneapolis, United States

☆ Saudi Arabia's economic growth slows as oil cuts, price drops bite into revenues
▼ + stars: | 2023-07-31 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

Saudi Arabia's economy slowed in the second quarter, as crude output cuts and a drop in oil prices reined in one of the fastest growing nations of the G20. Riyadh's GDP expanded by an annual 1.1% in the second quarter, the Saudi General Authority for Statistics said Monday, down from 3.8% in the previous quarter and 11.2% in the same period of 2022. The non-oil sector — where Saudi Arabia is directing its socioeconomic reforms under Crown Prince Mohammed bin Salman's Vision 2030 economic diversification program — grew by 5.5% in the second quarter. But hydrocarbon-reliant Riyadh logged a 4.2% loss in non-oil GDP in the second quarter, bearing the brunt of lower global crude prices and voluntary oil production cuts. Oil prices spiked last year, as Moscow's full-scale invasion of Ukraine and ensuing international sanctions decoupled many Western consumers from Russian crude supplies.

Persons: Prince Mohammed bin Salman's, Brent Organizations: Saudi General Authority, Statistics, Saudi, Commodities, Organization of, Petroleum, Monetary Fund Locations: Saudi, Saudi Arabia, Riyadh, Ukraine, London, OPEC, Russia, East, Central

☆ Morning Bid: Big Tech litmus test as Fed gather
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +4 min

The wider blue-chip CSI 300 Index (.CSI300) snapped a six-day losing streak to pop 3% and buying from state banks propped the yuan. Both oil and Treasury yields gave back some of those gains again today, however, with year-on-year crude price declines still tracking more than 21%. There was little ostensible reaction to the formal rebalancing of the Nasdaq 100 (.NDX) index that pared weightings of several of the big caps to reduce "over-concentration". The approach of Wednesday's Fed decision may limit market moves until then. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan, sagged, Dow Jones bluechips, Alphabet's, Clark, Chubb, Paccar, Sherwin, Williams, Archer, Ed Osmond Organizations: Big Tech, Microsoft, Federal Reserve, European Central Bank, ebbing, Nasdaq, Google, Texas, NextEra Energy, Visa, GE, GM, Dow, Verizon, Universal Health, Daniels, Richmond Fed, Philadelphia Fed, Federal, Market, Monetary Fund, Treasury, Reuters, Thomson Locations: U.S, Hong, Europe, China, Danaher, Corning, Kimberly, Biogen, Dover, Nucor, Midland

☆ Vingegaard completes Tour double as Meeus pips Philipsen on Champs Elysees
▼ + stars: | 2023-07-23 | by ( Julien Pretot | ) www.reuters.com time to read: +2 min

PARIS, July 23 (Reuters) - Jonas Vingegaard won back-to-back men's Tour de France titles after safely finishing Sunday's final stage, which was won by Belgian Jordi Meeus, while Tadej Pogacar again entertained the crowd. Belgian Jasper Philipsen won the green jersey for the points classification with Italian Giulio Ciccone taking the polka dot jersey for the mountains classification. Pogacar, the 2020 and 2021 Tour champion, won the white jersey for the best under-25 rider for the fourth year in a row. It's been an amazing Tour for us and I'm so proud of every one of us. Sunday's 21st stage was, as usual, a largely processional ride from western Paris, with Vingegaard and his team mates celebrating with glasses of champagne.

Persons: Jonas Vingegaard, Belgian Jordi Meeus, Tadej Pogacar, Briton Adam Yates, Belgian Jasper Philipsen, Giulio Ciccone, Vingegaard's, Visma, It's, Vingegaard, it's, Nathan van Hooydonck, Alexandre Vinokourov, Meeus, Julien Pretot, Ken Ferris, Pritha Organizations: de France, Belgian, UAE Emirates, de, Yates, Thomson Locations: Slovenian, Belgian, Paris, Vosges

HONG KONG, July 18 (Reuters) - China's CITIC Securities (600030.SS) plans to move dozens of bankers from its offshore platform CLSA in Hong Kong to the mainland to cut costs and meet Beijing's call to bridge income inequality in the financial sector, people with knowledge of the matter said. The move comes weeks after CITIC cut pay across its investment banking division, lowering base salaries of mainland-based bankers by up to 15%. The move would result in a 25% to 50% base salary reduction because dealmakers in Hong Kong are normally offered higher pay than mainland peers, according to the second person. Wall Street banks such as Goldman Sachs (GS.N), JPMorgan (JPM.N) and Morgan Stanley (MS.N) have cut some investment banking jobs in China over the last 12 months. ($1 = 7.1729 Chinese yuan renminbi)Reporting by Selena Li and Xie Yu in Hong Kong; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: CITIC, Goldman Sachs, Morgan Stanley, Selena Li, Xie Yu, Jamie Freed Organizations: CITIC Securities, CLSA's, Bankers, JPMorgan, Australian, Thomson Locations: HONG KONG, Hong Kong, China, CLSA's China, Beijing, Canadian

☆ UK economy shows strains and gains, complicating Bank of England's job
▼ + stars: | 2023-07-12 | by ( William Schomberg | ) www.reuters.com time to read: +5 min

But the BoE is also aware that the economic impact of its 18-month campaign of rate hikes has yet to be felt fully. Below is a summary of key measures of the economy that the BoE will be watching before its next announcement on interest rates on Aug. 3. INFLATION THREATBritish consumer price inflation held at 8.7% in annual terms in May, down from a peak of 11.1% last October but the highest among the Group of Seven advanced economies. Reuters GraphicsINSOLVENCIESThere are signs that companies, especially smaller ones, are struggling as borrowing costs rise and the economy barely grows. Reuters GraphicsGraphics by Sumanta Sen, Kripa Jayaram and Vincent Flasseur; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: BoE, GfK, Sumanta Sen, Kripa Jayaram, Vincent Flasseur, Paul Simao Organizations: Bank of England's, Reuters Graphics Reuters, Nationwide, Halifax, Reuters, insolvencies, Wales, Reuters Graphics LABOUR, Thomson Locations: BoE's, Britain, England, Germany

The cases involve what has come to be known as the "administrative state," the agency bureaucracy that interprets laws, crafts federal rules and implements executive action. It also could overturn a decades-old precedent that helps federal agencies defend their regulatory actions in court. The case involves a lawsuit by trade groups representing the payday loan industry against the agency that enforces consumer financial laws. The companies asked the court to overturn its own precedent that calls for judges to defer to federal agency interpretation of U.S. laws, a doctrine called "Chevron deference." The court's embrace of the "major questions" doctrine has provided a seismic shift in its approach toward agency power.

Persons: Brianne Gorod, Jonathan Adler, Joe Biden's, Sarah Harris, Elena Kagan, Thomas McGarity, Andrew Chung, John Kruzel, Will Dunham Organizations: U.S, Supreme, Environmental Protection Agency, Constitutional, Center, Consumer Financial Protection Bureau, Securities and Exchange Commission, SEC, Case Western Reserve University School of Law, University of Texas, Thomson Locations: WASHINGTON, Cleveland, New Jersey, New York, Washington

☆ Dior showcases haute couture inspired by classical Rome
▼ + stars: | 2023-07-03 | by ( Mimosa Spencer | ) www.reuters.com time to read: +1 min

[1/3] Models present creations by designer Maria Grazia Chiuri as part of her Haute Couture Fall/Winter 2023-2024 collection show for fashion house Dior in Paris, France, July 3, 2023. REUTERS/Sarah MeyssonnierPARIS, July 3 (Reuters) - For her fall show, Dior designer Maria Grazia Chiuri reined in the volumes often associated with haute couture fashion and sent out a line-up of slender dresses and capes in neutral tones and touches of gold and silver. Embellishments were kept to a minimum, and included pearls and flat braids, while metallic threads added texture to jacquard fabrics. The show kicked off the first day of Haute Couture Week in Paris, drawing crowds, photographers and celebrities to the entrance of the Rodin museum. Haute Couture shows run until July 6 in the French capital, and include fashion houses Chanel, Balenciaga and Valentino.

Persons: Maria Grazia Chiuri, Dior, Sarah Meyssonnier PARIS, Maria Grazia Chiuri reined, Chiuri, Rodin, Marta Roberti, Chanel, Balenciaga, Valentino, Mimosa Spencer, Rosalba O'Brien Organizations: Couture, REUTERS, Reuters, Haute Couture, Thomson Locations: Paris, France, Rome, Haute

☆ The Fed’s favorite inflation gauge shows prices rose just 0.1% last month
▼ + stars: | 2023-06-30 | by ( Alicia Wallace | ) edition.cnn.com time to read: +6 min

Minneapolis CNN —The Federal Reserve’s preferred inflation gauge cooled off last month, and consumers reined in some spending as the economy slows, according to data released Friday by the Commerce Department. Personal spending ticked up by just 0.1%, a more moderate pace than April’s revised 0.6% growth rate. When adjusting for inflation, consumer spending was flat. Consumers refill the coffersThe data in recent months shows a gradual cooling in consumer spending, Gregory Daco, chief economist at EY-Parthenon, told CNN. “There were no fireworks within the Fed’s favorite inflation report today,” George Mateyo, chief investment officer for KeyBank, wrote in a statement.

Persons: Diane Swonk, ”, Gregory Daco, “ It’s, Friday’s, Abby Omodunbi, Janet Yellen, Yellen, ” Yellen, ” George Mateyo, KeyBank, Swonk, it’s, we’ve Organizations: Minneapolis CNN, Commerce Department, CNN, “, PNC, Fed, Transportation Locations: Minneapolis, EY, New Orleans

☆ Trump was accused of breaking a Nixon-era law by withholding funds to Ukraine. Now, he wants to get rid of it entirely.
▼ + stars: | 2023-06-27 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Trump pledged to restore a sweeping presidential power that Nixon abused to the point of it being curtailed. The former president wants to restore the ability for presidents to impound funds. "I will fight to restore the president's historic impoundment power," Trump said at an event in New Hampshire. In the wake of Trump's first impeachment for withholding funds for Ukraine, the Government Accountability Office concluded that Trump had violated the Nixon-era law. Impoundment refers to when a president refuses to spend funds that Congress has provided for.

Persons: Trump, Nixon, —, Donald Trump, Richard Nixon, It's, Trump's, Nixon White, Thomas Jefferson Organizations: Trump, Service, Ukraine, Office, Constitutional, Congress, Congressional Locations: New Hampshire, Ukraine

Image Mr. Prigozhin and President Vladimir Putin at one of Mr. Prigozhin’s factories in St. Petersburg in 2010. Mr. Prigozhin accused the Russian military of attacking his forces, vowed to retaliate, on Friday. In an earlier videotaped speech, Mr. Prigozhin did not explicitly impugn Mr. Putin, instead casting him as a leader being misled by his officials. But, during the battle for Bakhmut, Mr. Prigozhin also emerged as a populist political figure, excoriating Russia’s military leadership for corruption. Others theorized that the Kremlin had orchestrated Mr. Prigozhin’s tirades against Mr. Shoigu, the defense minister, to deflect blame from Mr. Putin himself.

Persons: Yevgeny V, Vladimir V, Putin, Prigozhin, Wagner, Mr, ” Gen, Vladimir Alekseyev, ” Mr, Prigozhin’s Wagner, Russia’s, ’, “, ”, GOH, Volodymyr Zelensky, Mykhailo Podolyak, Adam Hodge, Vladimir Putin, —, Sergei K, Shoigu, Dmitri S, diatribes, excoriating, Prigozhin’s, Igor Girkin, Girkin, ” Julian E, Barnes, Cassandra Vinograd Organizations: Russian, ., Reuters, Russian Defense Ministry, Russia’s, Defense Ministry, Telegram, Twitter, National Security, Associated Press, Bakhmut, Kremlin Locations: Ukraine, Moscow, Rostov, Don, Russia, White, St . Petersburg, St, Petersburg, Syria, Africa, Ukrainian, Bakhmut, Prigozhin, Russian, Ukraine’s, “

☆ Why Amazon built a second headquarters and how the pandemic reshaped HQ2
▼ + stars: | 2023-06-19 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +6 min

This week, Amazon formally opened the doors of the first part of its new East Coast headquarters, dubbed HQ2, in northern Virginia. It raises the question why Amazon, with its sprawling campus in Seattle and a growing real estate footprint globally, needed to build a second headquarters. HQ2 has some of the same quirks as Amazon's Seattle campus. The towers feature plant-filled terraces and a rooftop urban farm that echoes the feel of the "Spheres," botanical gardenlike workspaces that anchor Amazon's Seattle office. Amazon's HQ2 features some of the same quirks as its Seattle headquarters, like a community banana stand.

Persons: Jeff Bezos, John Schoettler, Schoettler, John, Glenn Youngkin, Tasha Dooley, Bezos, Holly Sullivan, Sullivan, HQ2, wouldn't Organizations: Amazon, Microsoft, Puget, Seattle, Metropolitan Park, Companies, Employees Locations: Coast, Virginia, Arlington, Seattle, Redmond , Washington, HQ2, North America, New York's Long Island City, Crystal City, Arlington , Virginia, Long Island City, Nashville , Tennessee, Bellevue, There's

☆ Singapore's love affair with air conditioning shows a Catch 22 of climate change
▼ + stars: | 2023-06-09 | by ( Heather Chen | ) edition.cnn.com time to read: +10 min

Thankfully, Chee said, his home has five air conditioners – one in each bedroom and a larger unit in the living room. “I drank plenty of water, took cold showers and kept the air conditioning on for the entire weekend. Indeed, in this city, air conditioning has become almost a way of life. But Singapore’s love affair with air conditioning has an enormous cost. Here are some possible solutions 02:39 - Source: CNNBreaking the loopStill, experts say there are ways to break the air conditioning doom-loop.

Persons: Chee Kuan Chew, ” Chee, “, Mo Kio, Chee, Lee Kuan Yew, Edgar Su, Suhaimi Abdullah, Matthias Roth, Roth, Radhika Khosla, ” Khosla, Heng Chye Kiang, Smart, Heng Organizations: CNN, Reuters, Economic, International Energy Agency, Urban, United States Environmental Protection Agency, National University of Singapore, United Nations, Montreal Protocol, Oxford University’s Smith School of Enterprise, Environment, Bloomberg, Getty, Singapore’s National Environment Agency, NEA, ”, National University of Singapore’s School of Design Locations: Singapore, New York City, Japan, United States, ”, Kigali, Montreal, Orchard

[1/3] Former U.S. President and Republican presidential candidate Donald Trump gestures during a campaign event in Manchester, New Hampshire, U.S., April 27, 2023. REUTERS/Brian SnyderWASHINGTON, June 9 (Reuters) - The indictment of former President Donald Trump on multiple charges related to his handling of classified documents on Thursday has thrust the Justice Department back into the center of the Republican presidential primary campaign. In a video posted on his Truth Social platform on Thursday, he reiterated previous assertions that the Justice Department has been weaponized for political ends. But he has shied away from promoting more aggressive reforms at the Justice Department. In a statement on Thursday night, he lambasted the Justice Department, calling it part of a "federal police state."

Persons: Donald Trump, Brian Snyder WASHINGTON, Joe Biden, DONALD TRUMP Trump, RON DESANTIS, Ron DeSantis, Christopher Wray, MIKE, Mike Pence, NIKKI HALEY Nikki Haley, Trump, Tim Scott, Wray, VIVEK RAMASWAMY, Vivek Ramaswamy, Asa Hutchinson, Gram Slattery, Alistair Bell Organizations: U.S, Republican, REUTERS, Department, Federal Bureau of Investigation, Justice Department, DOJ, Trump, Justice, UN, FBI, SCOTT South, Department of Justice, Fox News, ASA HUTCHINSON Former Arkansas, Thomson Locations: Manchester , New Hampshire, U.S, Florida, Washington, New York, RON DESANTIS Florida, SCOTT South Carolina

☆ China's top investment bank CITIC cuts base salary by up to 15% -sources
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

HONG KONG/BEIJING, June 5 (Reuters) - China's CITIC Securities is cutting pay across its investment banking division, lowering base salaries by up to 15%, two sources said, in a rare move in the country's financial sector as Beijing pushes to bridge income disparity. The country's top investment bank by market value has also yet to pay bonuses to bankers for work done last year, the two sources close to the matter said. China's well-heeled financial dealmakers over the past year have been getting a crash course in austerity with pay cuts and perks reined in as their state-owned employers respond to the "common prosperity" drive. CITIC Securities' domestic rival China International Capital Corp (CICC) (3908.HK) last month cut this year's bonuses for investment bankers by 30%-50% from a year earlier, said two separate sources with knowledge of the matter. Besides remuneration cuts, some investment banks have asked staff to avoid displays of wealth such as uploading photographs to social media of expensive meals or overseas trips, industry sources have said.

Persons: China's, CICC, Julie Zhu, Selena Li, Roxanne Liu, Louise Heavens, Kirsten Donovan Organizations: CITIC Securities, China International Capital Corp, HK, Reuters, China's, Thomson Locations: HONG KONG, BEIJING, Beijing, China, CICC, Hong Kong

☆ GOP lawmaker says Kevin McCarthy is 'emasculating himself' by striking a debt ceiling deal with Biden and calls for his removal as House speaker
▼ + stars: | 2023-05-30 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +3 min

GOP Rep. Dan Bishop called for Kevin McCarthy's removal as House speaker after he struck a debt ceiling compromise with Biden. "All you're hearing from the mainstream media is Kevin McCarthy is an adult. Kevin McCarthy is a leader. Kevin McCarthy is responsible," Bannon said. Biden announced the debt ceiling deal on Sunday, saying it would take the threat of a "catastrophic default off the table."

Persons: Dan Bishop, Kevin McCarthy's, Biden, it's, Bishop, McCarthy, emasculating, —, Joe Biden, who's, excoriated McCarthy, Steve Bannon, Donald Trump's, Kevin McCarthy, Bannon, they're, Biden White, overreach Organizations: Republicans, Service, North Carolina Rep, Caucus, Republican, GOP, Democratic, North, White, Biden Locations: North Carolina

☆ Morning Bid: Debt vote in sight, but further Fed squeeze
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +4 min

[1/2] Visitors walk on the plaza at the U.S. Capitol in the midst of ongoing negotiations seeking a deal to raise the United States' debt ceiling and avoid a catastrophic default, in Washington, U.S. May 24, 2023. Relief over the likely lifting of the U.S. debt ceiling this week is being reined in by the uncomfortable prospect of even higher Federal Reserve interest rates - and the further evaporation of any 2023 easing hopes. Futures markets now see a 60% chance the Fed will lift rates by another quarter point to the 5.25-5.50% range at its June 14 meeting. Though largely illiquid out of U.S. hours, one-month Treasury bill yields were marked about 10 basis points higher than Friday's close. U.S. stock futures were about 0.5% higher, in part due to relief over the debt deal - even though, unlike the latest big debt ceiling standoff in 2011, there has been little noticeable disturbance in stock indices over the past month.

☆ Elon Musk says he doesn't plan to give his kids control of his companies
▼ + stars: | 2023-05-23 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Elon Musk said he's found potential successors for his companies if "something happens to me unexpectedly." The billionaire said he doesn't plan to hand over his companies or voting shares to his kids. Musk dispelled rumors earlier this month that he would bring in a new Tesla CEO. Elon Musk says he doesn't plan to hand over his companies to his kids any time soon. The Tesla CEO did not respond to a request for comment from Insider ahead of publication.

Persons: Elon Musk, he's, Musk, X, X's, Grimes, Steve Jobs, Bernard Arnault, Rupert Murdoch —, I've, Musk's, Zach Kirkhorn, Tesla, James Murdoch —, —, Tom Zhu, he'd, Dan Ives Organizations: Morning, Reuters, Twitter, Street Journal, Musk Locations: China, North America, Europe

☆ It looks like Elon Musk is getting more involved at Tesla. Read the email he sent demanding personal approval on all new hires.
▼ + stars: | 2023-05-15 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Elon Musk told staff he must approve all new Tesla hires, even contractors, in a company-wide email. The Tesla CEO said executives should "think carefully" before sending him a new hire. It's a sign Musk might be shifting more of his focus back to Tesla after finding a new Twitter CEO. Elon Musk is making a change at Tesla: The CEO wants to personally sign-off on each new hire. "Think carefully before sending me the request," Musk wrote in an email obtained by Insider.

☆ Elon Musk says he's found a new Twitter CEO: 'She will be starting in ~6 weeks!'
▼ + stars: | 2023-05-11 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Elon Musk said on Thursday that he'd found a new CEO for Twitter. Elon Musk said on Thursday that he'd found a new CEO for Twitter. Musk became Twitter CEO, describing himself as "Chief Twit," last year after he bought the company and fired CEO Parag Agrawal within hours of taking the social-media company private. Since Musk took over as Twitter CEO in November, some Tesla shareholders have expressed concern over his focus on the social-media company as Musk has taken to sleeping at its headquarters. Musk has said from the beginning that he had planned for his stint as Twitter's CEO to be temporary.

☆ DeSantis' tough words may come back to haunt him in Disney lawsuit, experts say
▼ + stars: | 2023-04-28 | by ( Tom Hals | Thomson Reuters | Tom Hals Is An Award-Winning Reporter With Years Of Experience Working In Asia | ) www.reuters.com time to read: +5 min

[1/2] Florida Governor and likely 2024 Republican presidential candidate Ron DeSantis speaks as part of his Florida Blueprint tour in Pinellas Park, Florida, U.S. March 8, 2023. Disney on Wednesday sued DeSantis to prevent the state from ending the company's virtual autonomy in central Florida where it has its theme parks. Disney said DeSantis' actions amounted to a "targeted campaign of government retaliation." Disney claimed in its lawsuit that the state adopted a "targeted campaign of government retaliation — orchestrated at every step by Governor DeSantis as punishment for Disney’s protected speech." DeSantis' tough talk toward Disney is cited throughout the lawsuit, including 18 quotes referring to some form of "woke Disney."

☆ Wall Street predicted a big surge for oil this year. But prices are now lower
▼ + stars: | 2023-04-28 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +7 min

Oil prices were rattled by the collapse of several U.S. and European lenders earlier this spring, which discouraged volatility-adverse investors from historically riskier assets, such as commodities. Beijing, the world's largest importer of crude oil, reined in its purchases last year amid drastic "zero-Covid" restrictions that depressed transport fuel requirements. Kpler data indicates that China's imports of Russian crude oil averaged 1.59 million barrels per day in March, up 68% from the same period in 2022. The latest cuts already spell a tight supply-demand balance that could hit households, the International Energy Agency warned in its latest monthly Oil Market Report. "Our oil market balances were already set to tighten in the second half of 2023, with the potential for a substantial supply deficit to emerge.

☆ Chinese police query Bain's Shanghai office staff - company spokesperson
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

April 26 (Reuters) - Chinese police have visited U.S. management consultancy Bain & Company's office in Shanghai and questioned staff there, a company spokesperson said on Wednesday without elaborating. "We are cooperating as appropriate with the Chinese authorities," the spokesperson told Reuters by email. The U.S. embassy in China and the American Chamber of Commerce in Shanghai did not immediately respond to requests for comment. American companies worry that China may be stepping up retaliatory action because of measures taken against Chinese firms by U.S. President Joe Biden's administration. Chinese authorities last month raided the office of U.S. corporate due diligence firm Mintz Group in Beijing and detained five local staff.

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