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☆ Israel may have military superiority, but it lacks a clear strategic vision, say experts
▼ + stars: | 2024-10-08 | by ( Thibault Spirlet | Hannah Abraham | ) www.businessinsider.com time to read: +7 min

Experts told BI that Israel still lacks a long-term strategic vision on how to end the war. But while Israel may have military superiority in the region, it lacks a clear, long-term strategic vision to end conflict in the Middle East, according to security experts. It's clear the Israel Defense Forces have achieved a series of tactical gains in recent weeks, but they still lack a clear military strategy, security analysts told Business Insider. "Neither outcome achieves Israel's security objectives, which would represent a defeat for the IDF and could threaten the survival of Israeli Prime Minister Benjamin Netanyahu's government," Pfaff said. The problem may be that Israel's security doctrine has long been based on short wars.

Persons: Israel, —, Burcu, Benjamin Netanyahu, Bashir Abbas, Chris Doyle, Doyle, They're, Anthony Pfaff, Pfaff, Benjamin Netanyahu's, " Pfaff, Moody's, Will, Edmund Fitton, Brown, Donald Trump, Netanyahu, Kamala Harris, Daniel Hoffman Organizations: Service, Israel Defense Forces, Middle East Security, Royal United Services Institute, Israel's, Stimson Center, Council, Strategic Studies, US Army War College, Guardian, of Israel, CNN, Counter, CIA, Fox Business Locations: Iran, Lebanon, Gaza, Iraq, Syria, Israel, Beirut, British, Moody's Israel

☆ UK Prime Minister Keir Starmer attempts government reset less than 100 days into office
▼ + stars: | 2024-10-07 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +4 min

Britain's Prime Minister Keir Starmer speaks at a press conference, during his visit to the European Commission headquarters on October 2, 2024 in Brussels, Belgium. LONDON — British Prime Minister Keir Starmer is seeking to reset his government and recover from a shaky first 100 days in office beset by policy misfires, doom mongering and a "freebie" scandal. "A challenge for the prime minister lies in the fact No. Keir Starmer now needs to show he's got control," he added. Former Finance Minister Jeremy Hunt has denied the claims as "fictitious."

Persons: Keir Starmer, Starmer, Sue Gray, Gray, Morgan McSweeney, Downing, James Lyons, Phillip Blond, thinktank, Tony Travers, Travers, he's, Rachel Reeves, Reeves, Jeremy Hunt Organizations: Britain's, European Commission, LONDON, Labour, CNBC, London School of Economics, Labour Party, Conservative, Treasury, Conservative Party, Former, Citi, KPMG, Employment Locations: Brussels, Belgium, TikTok, Ukraine

☆ Israel’s economy is paying a high price for its widening war
▼ + stars: | 2024-10-04 | by ( Hanna Ziady | ) edition.cnn.com time to read: +10 min

London CNN —In late September, as Israel’s nearly year-long war widened and its credit rating was downgraded yet again, the country’s finance minister, Bezalel Smotrich, said that, while Israel’s economy was under strain, it was resilient. Israel’s economy could shrink even more than that, based on a worst-case estimate by the Institute for National Security Studies at Tel Aviv University. Before the October 7 attack and ensuing Israel-Hamas war, the International Monetary Fund forecast that Israel’s economy would grow by an enviable 3.4% this year. Smotrich, the finance minister, is confident that Israel’s economy will bounce back once the war ends, but economists are concerned the damage will far outlast the conflict. Florion Goga/ReutersOther sectors of Israel’s economy, while less important than tech, have been hit much harder.

Persons: London CNN —, Bezalel Smotrich, ” Smotrich, Hassan Nasrallah, ratcheting, Karnit, ‘, Menahem Kahana, ”, “ Israel, “, Smotrich —, Flug, Ahmad Gharabli, Fitch, —, Coface, Avi Hasson, Hasson, Florion Goga, Yaron Liberman, ” Liberman Organizations: London CNN, CNN, West Bank, United Nations, BMI, Fitch Solutions, Institute for National Security, Tel Aviv University, International Monetary Fund, of Israel, Getty, Bank of Israel, Israel Democracy Institute, Institute for National Security Studies, Moody’s, Startup Nation Locations: Lebanon’s, Beirut, Israel, Lebanon, Gaza, Israel’s, Iran, AFP, Egypt, Syria, Golan, Jerusalem's Old City, United States, Tel Aviv, housebuilding . Tourism

☆ Britain's defense sector vies for stretched government funding on path to 2.5%
▼ + stars: | 2024-10-04 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Liverpool, ENGLAND — British defense officials are vying to secure more funding as Finance Minister Rachel Reeves' upcoming Autumn budget risks exacerbating already beleaguered efforts to boost military investment. Maria Eagle, the U.K.'s minister of defense procurement, joined a chorus of voices that called on the sector to prove that it could be more efficient under the new government, as the Treasury grapples with allocating its stretched finances. Meanwhile, the war in Ukraine has cast a spotlight on deep inefficiencies within Britain's defense sectors, provoking calls for reform. A 72-page House of Lords report published Thursday last week warned of "burdensome bureaucracy" in military recruitment and "cumbersome" procurement processes. Unless "laser-sharp priorities" are set, even 2.5% might not be enough to meet the country's defense needs, it said, adding that the government must acknowledge the essential need for higher defense spending and communicate that to the public.

Persons: Sir Keir Starmer, Rachel Reeves, Maria Eagle, We've, Eagle, Let's, Keir Starmer, — Organizations: RAF, Armed Forces, Treasury, Labour Party, NATO Locations: Oxfordshire, Liverpool, ENGLAND, Ukraine

☆ Ireland reveals how it plans to spend ‘transformational’ $14 billion Apple tax windfall
▼ + stars: | 2024-10-02 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Ireland's government on Tuesday outlined how it intends to spend 13 billion euros ($14.4 billion) in Apple back taxes — a windfall that Dublin actually spent several years fighting to avoid. His comments come three weeks after the European Court of Justice (ECJ) ruled against Apple over its tax affairs in Ireland. The landmark decision, which the court said was final, said Apple must pay Ireland billions of euros in back taxes. The ECJ's ruling was welcomed by tax justice advocates, as well as the bloc's outgoing competition chief Margrethe Vestager, who described the pronouncement as a "huge win" for European citizens. Apple said at the time that it was disappointed with the decision, while the Irish government said that its position had always been that it "does not give preferential tax treatment to any companies or taxpayers."

Persons: Jack Chambers, Chambers, Margrethe Vestager, Apple Organizations: Irish Finance, Court of Justice, Apple Locations: Apple, Dublin, Ireland

☆ Japan’s new leader unveils cabinet ahead of snap election
▼ + stars: | 2024-10-01 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +4 min

TOKYO — Japan’s new Prime Minister Shigeru Ishiba on Tuesday unveiled his cabinet as he seeks to heal party divisions and secure a national mandate with an Oct. 27 snap election. The 67-year-old former defense minister, who last week won a close-fought contest to lead the governing Liberal Democratic Party (LDP), was confirmed earlier in the day as prime minister by parliament. In his victory speech on Friday, Ishiba spoke about the need to beef up Japan’s security after recent territorial incursions by Chinese and Russian military vessels. Five of the lawmakers who contested the leadership race with him have not been included in his government nor given key party jobs. But despite its troubles, the LDP, which has ruled Japan for most of the post-war era, remains likely to hold on to power in the upcoming election given Japan’s weak opposition.

Persons: Shigeru Ishiba, Katsunobu Kato, Yoshimasa Hayashi, Shinzo, Sanae, Takeshi Iwaya, Gen Nakatani, Yoji, Ishiba, Yoshihiko Noda, “, ” Noda Organizations: Liberal Democratic Party, Washington, NATO, Nikkei, Constitutional Democratic Party of Japan, NHK, LDP, Mainichi, Constitutional Locations: TOKYO, Tokyo, United States, China, Beijing, U.S, East Asia, North Korea, Russian, Japan

☆ Japan's new Prime Minister Ishiba unveils cabinet ahead of snap election
▼ + stars: | 2024-10-01 | by ( ) www.cnbc.com time to read: +3 min

TOKYO, JAPAN - SEPTEMBER 06: Japanese former Defense Minister Shigeru Ishiba speaks during a press conference at the Foreign Correspondents' Club of Japan on September 06, 2024 in Tokyo, Japan. Ishiba and former Environment Minister Shinjiro Koizumi are the front runners in the race of the upcoming presidential election for the ruling Liberal Democratic party of Japan (LDP) according to recent polling. (Photo by Tomohiro Ohsumi/Getty Images)Japan's new Prime Minister Shigeru Ishiba on Tuesday unveiled his cabinet as he seeks to heal party divisions and secure a national mandate with an Oct. 27 snap election. The 67-year-old former defence minister, who last week won a close-fought contest to lead the ruling Liberal Democratic Party (LDP), was confirmed earlier in the day as prime minister by parliament. Yoji Muto, a former junior minister, will take charge at the economy, trade and industry ministry.

Persons: Shigeru Ishiba, Ishiba, Shinjiro Koizumi, Tomohiro Ohsumi, Katsunobu Kato, Yoshimasa Hayashi, Kato, Sanae, Takeshi Iwaya, Gen Nakatani, Yoji Organizations: Defense, Foreign, Club of Japan, Liberal Democratic, Liberal Democratic Party, Washington, NATO, Nikkei Locations: TOKYO, JAPAN, Tokyo, Japan, United States, China, Beijing, U.S, East Asia, North Korea, Russian

☆ Japan’s incoming leader calls general election as he seeks to unify party
▼ + stars: | 2024-09-30 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

TOKYO — Japan’s incoming prime minister, Shigeru Ishiba, said Monday that he will call a general election for Oct. 27 following his victory in one of the closest-ever leadership races for the governing Liberal Democratic Party. Lawmakers there will meet on Tuesday to confirm Ishiba as the country’s next prime minister. Ishiba on Monday began picking government and party officials who will contest the upcoming general election with him. Ishiba, 67, won the LDP leadership race on his fifth attempt with strong backing from rank-and-file members. Before his runoff election against Takaichi on Friday, Ishiba apologized to LDP lawmakers for his “shortcomings.”

Persons: Shigeru Ishiba, Ishiba, ” Ishiba, Katsunobu Kato, Yoshimasa Hayashi, Takeshi Iwaya, Gen Nakatani, Yoji, Takaichi, ”, Hiroshi Shiratori, Shinjiro Koizumi, Yoshihide Suga, Koizumi Organizations: Liberal Democratic Party, U.S, Reuters, Media, Hosei University, Takaichi Locations: TOKYO, Tokyo

☆ Japan's incoming PM Ishiba calls election for Oct 27, seeks to unify party
▼ + stars: | 2024-09-30 | by ( ) www.cnbc.com time to read: +3 min

Newly-elected leader and sitting chairperson of the Liberal Democratic Party (LDP) Shigeru Ishiba speaks during a press conference following his election in the party leadership elections on September 27, 2024 in Tokyo, Japan. Lawmakers there will meet tomorrow to confirm him as the country's next prime minister. Japan's incoming prime minister, Shigeru Ishiba, said on Monday he will call a general election for Oct. 27 following his victory in one of the closest ever leadership races for the ruling Liberal Democratic Party. Ishiba on Monday began picking government and party officials who will contest the upcoming general election with him. Ishiba, 67, won the LDP leadership race on his fifth attempt with strong backing from rank-and-file members.

Persons: Shigeru Ishiba, Ishiba, Katsunobu Kato, Yoshimasa Hayashi, Takeshi Iwaya, Gen Nakatani, Yoji, Takaichi, Hiroshi Shiratori, Shinjiro Koizumi, Yoshihide Suga, Koizumi Organizations: Liberal Democratic Party, U.S, Reuters, Media, Hosei University, Takaichi Locations: Tokyo, Japan

☆ Israeli politics swirl as Hezbollah conflict ramps up
▼ + stars: | 2024-09-27 | by ( Mick Krever | ) edition.cnn.com time to read: +10 min

“It’ll take him months on end to train for the job,” said Gadi Eisenkot, a highly respected former Israeli military chief and member of the opposition. Policy and domestic politics are impossible to separate in any democracy, but especially in Netanyahu’s Israel – and especially now. Remarkably, Netanyahu held a security consultation on Wednesday but did not invite his defense minister, an Israeli official told CNN. Hezbollah says that it’s attacking Israel in solidarity with the Palestinian people in Gaza; Israel wants to get Hezbollah to stop firing even without a Gaza ceasefire and hostage deal. With both the Philadelphi Corridor and Hezbollah, Netanyahu’s critics have questioned why, if they were so critical, he waited months to raise the stakes over those issues.

Persons: Benjamin Netanyahu, Yoav Gallant, Gideon Sa’ar, “ It’ll, ”, Gadi Eisenkot, –, Gallant, Netanyahu, Israel –, Itamar Ben, Gvir, Ben Gvir, Ben Gvir’s, Abir, ” Eyal Hulata, “, ’, ” Gallant, Baz Ratner, it’s, ” Gilad Malach, Netanyahu’s, ” Malach, Damocles, Sa’ar, Bezalel Smotrich, Ammar Awad, Reuters Eisenkot, I’m, Gallant –, Malach, Michael Shemesh, Kan, ” Shemesh Organizations: Israel CNN, CNN, Reuters, Foundation for Defense of Democracies, IDF, Israel Defense Forces, Israel Democracy Institute, National Security, Finance, General Staff Locations: Tel Aviv, Israel, Lebanon, Gaza, United States, Abir Sultan, ” Lebanon, Egypt, Israeli, New York

☆ Fearful of the 'middle-income trap,' Indonesia pushes for major policy reform
▼ + stars: | 2024-09-26 | by ( Shafi Musaddique | ) www.cnbc.com time to read: +4 min

Incoming President Subianto has promised to continue the charge toward making Indonesia a high-income economy. Economic reforms passed through by the outgoing president will make the achieving Indonesia's grand vision easier. "Widodo put in place a bunch of economic reforms, the most noticeable being making it easier to hire and fire new workers. Indrawati hopes to avoid "the middle-income trap" — an economic development situation where growing economies stagnate at middle-income levels and are unable to advance to the ranks of high-income countries. Major policy reforms, she believes, will help Indonesia sidestep that.

Persons: Sri Mulyani Indrawati, CNBC's, Joko Widodo, Prabowo Subianto, Subianto, Widodo, Gareth Leather, Indrawati Organizations: Afp, Getty, country's Finance, International Monetary Fund, Defense, Capital Economics, CNBC, Lowy Institute Locations: Jakarta, Indonesia, Washington, Australian, China, Asia

☆ UK finance chiefs are banging the drum for one major reform to boost economic growth
▼ + stars: | 2024-09-26 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Ian Forsyth | Getty Images News | Getty ImagesLiverpool, ENGLAND — U.K. finance chiefs are banging the drum for pension reforms to boost anaemic investment and growth in the country. William Vereker, chairman of Santander U.K., cited pension reform as one of three paths to economic growth, alongside skills and education, and regulation. "If we do not have domestic capital investing in domestic businesses, we will not see the growth that this government is so rightly focused on," he added. "For me, pension reform is the way to unlock growth in the U.K.," Lee told "Squawk Box Europe." UK pensions reviewU.K. Finance Minister Rachel Reeves in July announced a landmark pensions review as part of a "big bang" of reforms to unlock growth.

Persons: Ian Forsyth, —, William Vereker, Vereker, Muirinn O'Neill, we're, Tiina Lee, Lee, it's, Rachel Reeves, Tulip Siddiq Organizations: Labour Party Conference, ACC Liverpool, Getty, Labour, Santander U.K, Citi U.K, CNBC, Finance, Treasury Locations: Liverpool, England, ENGLAND, City, London

☆ UK Prime Minister Keir Starmer says tough times are needed to spark national renewal
▼ + stars: | 2024-09-24 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +5 min

Prime Minister Sir Keir Starmer during an 'In Conversation' event with Debbie Weinstein, managing Director Goole UK&I during the Labour Party Conference at the ACC Liverpool. Liverpool, ENGLAND — U.K. Prime Minister Keir Starmer insisted on Tuesday that tough decisions taken now will spark a new era for Britain, as he sought to shake a fog of pessimism that has clouded his new premiership. "Change must mean nothing less than national renewal," he told a crowd of Labour Party delegates Tuesday. Wes Streeting, minister for health and social care, said that promised improvements to the U.K.'s National Health Service (NHS) would take time to implement. We need to rebuild the economy, rebuild public services and rebuild trust in politics," he said at the conference Monday.

Persons: Sir Keir Starmer, Debbie Weinstein, Keir Starmer, Starmer, Jeremy Corbyn, Rachel Reeves, Reeves, Wes Streeting, Tulip Siddiq Organizations: Goole, Labour Party Conference, ACC Liverpool, Labour Party, Conservative, Wealth Fund, Finance, National Health Service, Treasury, Labour, CNBC, Conservative Party Locations: Liverpool, ENGLAND, Britain, England

☆ Op-ed: The UK's budget problems date back to the 2008 financial crisis
▼ + stars: | 2024-09-24 | by ( Kevin Klowden | Chief Global Strategist At The Milken Institute | ) www.cnbc.com time to read: +2 min

Over the past few weeks, economic news from the U.K. has heavily focused on the state of British national finances and how they might impact both the British public and the prospects for economic growth. Regardless of how the U.K. fiscal situation stands now, it is clear that the current shortfalls are both years in the making and run the risk of having consequences that could last for years to come. The ultimate dilemma facing Labour now is that the country cannot produce enough revenue to close systemic shortfalls without sustained economic growth, but it also cannot create economic growth without real investment, both from the public and private sectors. In many ways, the current fiscal situation dates back to the financial crisis of 2008 and the fact that the country's economy was unable to snap back readily to close the budget shortfalls that occurred then. Borrowing in the financial year to August stood at £64.1 billion ($85 billion), with the country's debt hitting 100% of GDP.

Persons: Keir Starmer, John Healey, George Robertson, Rachel Reeves, Jeremy Hunt Organizations: British, Defence, Downing, Labour, Conservative Locations: London, England, British, United States, China, Japan

☆ Russia says it's the bigger person for not cutting Europe's natural gas supply — but that's not all there is to it
▼ + stars: | 2024-09-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

But Moscow doesn't appear ready to acknowledge that it's not in a financial position to cut Europe off from its natural gas exports completely. Russia's oil and gas revenues hit 8.82 trillion rubles, or $94.6 billion, in 2023. That's 24% lower than the 11.6 trillion rubles it recorded in 2022, when revenues jumped due to oil price volatility. In 2021, Russia's oil and gas sales revenue stood at 9 trillion rubles. To be sure, other geopolitical factors could also be playing into Russia's decision to keep natural gas exports moving into Europe.

Persons: —, it's, Sergey Lavrov, Lavrov, It's, There's, Naftogaz Organizations: Service, Sky News Arabia, Russian, Business, West, P, Oxford Institute for Energy Studies, Bloomberg Locations: Moscow, Russia, Europe, United States, Ukraine, Nord, Ukraine's

☆ UK Finance Minister Reeves vows no austerity despite tough budget
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: +1 min

Britain's Finance Minister Rachel Reeves has pledged to make the "necessary", "urgent" and "incredibly tough" choices to restore the country's economic stability. Finance minister Rachel Reeves will promise Britain on Monday there will be no return to "austerity" or widespread spending cuts despite previous warnings of a tough budget aimed at fixing the foundations of the economy. "There will be no return to austerity. Conservative austerity was a destructive choice for our public services - and for investment and growth too," Reeves will say, according to extracts from her speech. "We must deal with the Tory (Conservative) legacy and that means tough decisions.

Persons: Rachel Reeves, Reeves Organizations: Britain's, Labour, Labour Party, Tory Locations: English, Liverpool

☆ Britain's finance minister calls for spending discipline but no return to austerity
▼ + stars: | 2024-09-23 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Britain's Chancellor of the Exchequer Rachel Reeves speaks on the second day of the annual Labour Party conference in Liverpool, north-west England, on September 23, 2024. Liverpool, ENGLAND — U.K. Finance Minister Rachel Reeves vowed on Monday that Britain will not return to austerity, but said she would make hard choices as she lays out budget proposals next month. "It will be a budget with real ambition ... a budget to deliver the change we promised. A budget to rebuild Britain," she told a crowd of Labour party delegates Monday. Reeves has suggested that taxes are likely to rise at her upcoming Oct. 30 Autumn budget after discovering a £22 billion ($29 billion) "black hole" in the public finances.

Persons: Rachel Reeves, heckles, Keir Starmer, Reeves, Jeremy Hunt Organizations: Labour Party, Finance, Labour, Conservative Party, Conservatives Locations: Liverpool, England, ENGLAND, Britain

☆ Japan top currency diplomat says watching for any build-up of yen carry trades: report
▼ + stars: | 2024-09-21 | by ( ) www.cnbc.com time to read: +1 min

Sheets of newly-designed Japanese 10,000 yen banknotes move through a machine at the National Printing Bureau Tokyo plant in Tokyo, Japan, on Wednesday, June 19, 2024. Persistent weakness in the yen is raising concerns about the potential for a resurgence in cost-push inflation, likely weighing on private consumption. Japan's top currency diplomat Atsushi Mimura said authorities are "always watching markets" as a renewed build-up of yen carry trades could heighten market volatility, public broadcaster NHK quoted him as saying in an interview that ran on Friday. Mimura said yen carry trades built up in the past are likely to have been mostly unwound, according to NHK. We are always watching markets to ensure that does not happen," Mimura was quoted as saying.

Persons: Atsushi Mimura, Mimura, Masato Kanda, Yen Organizations: National Printing Bureau, NHK, Bank of Japan Locations: National Printing Bureau Tokyo, Tokyo, Japan

☆ Britain's ultra-wealthy are threatening to exit en masse ahead of proposed tax changes
▼ + stars: | 2024-09-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +9 min

They're just a few of the destinations trying to lure away the U.K.'s uber wealthy ahead of proposed changes to the country's divisive non-dom tax regime. They will also be prevented from avoiding inheritance tax on assets held in trust. The majority (83%) cited inheritance tax on their worldwide assets as their key motivator for leaving, while 65% also referenced changes to income and capital gains tax. Where the wealthy are movingIt comes as other countries are shaking up their tax regimes to incentivize wealthy investors. Ultra-wealthy U.K. citizens, who are typically highly active in the super-prime market, are also in "wait and see" mode ahead of possible changes to capital gains and inheritance tax.

Persons: Keir Starmer, Rachel Reeves, Macleod, Miller, they'll, Leslie Macleod, Helena Moyas de Forton, Moyas de Forton, Labour's, Alexander Spatari, I'm, Marcus Meijer, Mark, CNBC's, it's, James Myers, Oliver James, Myers, Knight Frank, Stuart Bailey, Knight Frank's, they're, Bailey Organizations: Old Bond, Pawel, Bank, Getty, Labour, Oxford Economics, Conservative, Investors, Britain, CNBC, Treasury, EMEA, Christie's, Estate, Henley & Partners, Monaco, London, Istock Locations: Old, Mayfair, London, United Kingdom, Monaco, Italy, Switzerland, Dubai, They're, Britain, Greece, Malta, Caribbean, Bahamas, Monte Carlo, Gibraltar, South Kensington, England

☆ Indonesia's finance minister discusses aim of becoming a high-income country
▼ + stars: | 2024-09-16 | 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 EmailIndonesia's finance minister discusses aim of becoming a high-income countrySri Mulyani Indrawati, Indonesia's finance minister, outlines the sectors the country is investing in.

Persons: Mulyani

☆ Brazil recently hit a record high. Why further gains may be harder to come by
▼ + stars: | 2024-09-15 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Brazilian stocks have been on a tear, but stubborn inflation could grind the recent rally to a stop. It's a work in progress, and most likely will require further rate hikes by the central bank." BCA Research's Arthur Budaghyan agreed that the Brazilian central bank is unlikely to hike rates for very long. Against this backdrop, Budaghyan advises clients steer clear of Brazilian stocks in the near term. U.S. investors who want exposure to the Brazilian stock market can obtain it through the iShares MSCI Brazil ETF (EWZ) .

Persons: Bovespa, Fernando Haddad, Goldman Sachs, Alberto Ramos, Ramos, Arthur Budaghyan, Budaghyan Organizations: U.S . Federal, CNBC, U.S, Fed, BCA, Banco, MRB Partners Locations: Lower U.S, overcompensate, America, Banco Central, Brazil, U.S

☆ UK economy flatlines again in July, below expectations
▼ + stars: | 2024-09-11 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

LONDON — The U.K. economy continued to flatline in July on a month-on-month basis, flash figures published from the Office for National Statistics showed Wednesday. Britain's economic growth was up 0.5% in the three month to July, slightly below economist expectations and the 0.6% recorded in the second quarter ending in June. The U.K. economy had recorded modest but steady expansion almost every month so far this year, having emerged from a shallow recession at the start of the year. Finance Minister Rachel Reeves said the print left her "under no illusion" of the challenges faced by the U.K. economy. But she added that further movement in interest rates anticipated from the Bank of England could help ease wider growth pressures.

Persons: Liz McKeown, Keir Starmer's, Rachel Reeves, Reeves, Jeremy Hunt, Lindsay James, James Organizations: Office, National Statistics, Gross, Reuters, Labour, Conservative, Quilter Investors, Treasury, Bank of England Locations: flatline, U.K

☆ Japan nominates ex-currency diplomat Kanda to head Asian Development Bank
▼ + stars: | 2024-09-10 | by ( ) www.cnbc.com time to read: 1 min

Masato Kanda, vice-minister of finance for international affairs at Japan's Ministry of Finance, during a press conference after the Group of 20 (G-20) finance ministers and central bank governors meeting. Japan will nominate Masato Kanda, the country's former top currency diplomat, as its candidate to become next head of the Asian Development Bank, Finance Minister Shunichi Suzuki said on Tuesday. Since the ADB was founded in 1966, its top post has always been filled by someone from Japan which, along with the United States, is the bank's biggest shareholder. That makes Kanda a strong candidate to take up the post. "(Kanda) is most appropriate to lead the ADB as he is well-versed in Asia-Pacific affairs and has built deep networks with executives from various countries and international institutions," Suzuki said at a regular press conference.

Persons: Masato Kanda, Shunichi Suzuki, Suzuki Organizations: Japan's Ministry of Finance, Asian Development Bank, Finance, ADB Locations: Japan, United States, Asia, Pacific

☆ India's Modi expected to usher in new era of bilateral agreements in Singapore visit
▼ + stars: | 2024-09-04 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +4 min

Indian Prime Minister Narendra Modi during the launch of BJP membership campaign on Sept. 2, 2024 in New Delhi, India. Modi will also be meeting Singapore President Tharman Shanmugaratnam, Senior Minister and former Prime Minister Lee Hsien Loong, and Emeritus Senior Minister Goh Chok Tong during his two-day visit. Dean Kassim | Afp | Getty ImagesEarlier this week, the Indian prime minister made his inaugural trip to Brunei where he met Sultan Hassanal Bolkiah. Modi is India's first prime minister that has made a bilateral visit to the oil-rich country. The Indian prime minister had also visited Italy for the G7 summit, Russia, Ukraine and Poland in the last three months since his reelection.

Persons: Narendra Modi, Lawrence Wong, Modi, Tharman Shanmugaratnam, Lee Hsien Loong, Goh Chok Tong, Anit Mukherjee, Mukherjee, Dean Kassim, Sultan Hassanal Bolkiah, Omar Ali Saifuddien, Nirmala Sitharaman, Jaishankar, Wong, Vivian Balakrishnan, Balakrishnan Organizations: Indian, Hindustan Times, Getty, Singapore, Senior, King's College London, CNBC, Imports, Brunei International, Afp, High Commission of, Institute of South Asian Studies, Finance, Foreign Locations: New Delhi, India, Singapore, Asia, Bandar Seri Begawan, Brunei, High Commission of India, Italy, Russia, Ukraine, Poland, Lion City

☆ Hamas leader Sinwar wants a ceasefire deal, mediators say, but Netanyahu’s stance unclear
▼ + stars: | 2024-08-11 | by ( Jeremy Diamond | ) edition.cnn.com time to read: +5 min

“Nobody knows what Bibi wants,” one Israeli source said, referring to Netanyahu by his nickname. The Hostage and Missing Families Forum, a powerful voice in Israel, has also called on Israel and Hamas to finalize a hostage and ceasefire deal. At the same time, Netanyahu’s coalition partners have made it clear they do not want Israel to strike a deal with Hamas. Israeli Finance Minister Bezalel Smotrich called the proposed ceasefire deal a “surrender deal” on Friday. But negotiations are already underway with technical delegations working “around the clock” through key details ahead of Thursday’s meeting, the Israeli source said.

Persons: Yahya Sinwar, “, Bibi, Netanyahu, Bezalel Smotrich, ”, John Kirby, Smotrich’s, Itamar Ben Gvir, Fu’ad Shukr, Ismail Haniyeh, Sinwar, Haniyeh, Israel, Kamala Harris Organizations: CNN, Israeli, House, Smotrich, National Security, Hamas, Iranian Revolutionary Guards, Democratic Locations: United States, Israel, Cairo, Doha, Lebanon, Iran, Lebanese, Tehran, Gaza

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