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☆ Wall Street veteran Michael Klein is the latest casualty of the banking crisis
▼ + stars: | 2023-04-24 | by ( Carter Johnson | Kaja Whitehouse | ) www.businessinsider.com time to read: +1 min

Michael Klein was tapped last year as CEO of CS First Boston, Credit Suisse's investment banking spinoff. There's a new casualty of the banking crisis: Wall Street deals veteran Michael Klein. Credit Suisse and Klein "have mutually agreed to terminate the acquisition of The Klein Group," the company said in its first-quarter earnings announcement. It marks the latest blow for Credit Suisse's investment bankers. Here's everything you need to know about Klein and what the scuttling of the deal means for Credit Suisse's investment bankers.

☆ Front-line NATO allies worry they could be next after Russia's invasion of Ukraine and are getting ready for a fight
▼ + stars: | 2023-04-23 | by ( Sinéad Baker | Jake Epstein | ) www.businessinsider.com time to read: +13 min

These countries along the military alliance's front line are now scrambling to make sure they're protected should the Russian military ever come knocking. "There is an imminent need of a stronger NATO presence in our region," Estonia's Foreign Minister Urmas Reinsalu said. For nearly 14 months, the Russian military has been bogged down by its grinding war in Ukraine. More boots on the groundSome leaders in the Baltic countries have said that they ultimately want to host more NATO troops, including permanent brigades, in the years to come. So as the threat landscape continues to shift, the Baltic defense has adapted along with it, Townsend said.

☆ Slovenia stage comeback to beat Romania in delayed BJK Cup qualifier
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +1 min

[1/5] Tennis - Billie Jean King Cup Qualifiers - Slovenia v Romania - Sport Park Bonifika, Koper, Slovenia - April 14, 2023 Slovenia's Tamara Zidansek reacts during her singles match against Romania's Jaqueline Cristian REUTERS/Borut ZivulovicApril 16 (Reuters) - Slovenia pulled off a remarkable comeback to beat Romania and reach the Billie Jean King Cup finals in a qualifying tie that was held over to Sunday because of rain. The deciding doubles rubber in Koper saw home pair Kaja Juvan and Tamara Zidansek come from a set down to beat Romanian duo Irina Maria Bara and Monica Niculescu 4-6 6-2 6-4. Slovenia joined eight other nations who qualified for the 12-nation final that will be contested in November. Romania looked in complete control after winning both of Friday's singles rubbers, but Slovenia hit back on Saturday. Zidansek beat Ana Bogdan 3-6 7-6(4) 7-5 and Juvan overcame Jaqueline Cristian in straight sets to take it to a decider.

☆ U.S. finishes Billie Jean King Cup qualifying unbeaten
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +4 min

Each best-of-five series consists of two singles matches on the first day, then the reverse singles matches followed by a doubles match on the second day. The doubles match pitting Juvan and Zidansek against Irina Bara and Monica Niculescu was suspended at 3-3 in the first set. Jule Niemeier posted a three-set win over Beatriz Haddad Maia, and then Anna-Lena Friedsam lost only one game in defeating Laura Pigossi. Kazakhstan's Elena Rybakina handed Poland's Magda Linette her second loss in two days to clinch the 3-1 series win in Astana, Kazakhstan. After Fernandez's three-set win over Ysaline Bonaventure, Belgium's Greet Minnen again knotted the match with a three-set win over Katherine Sebov.

☆ The cap on Russian oil is unlikely to change soon — despite opposing views on whether it’s working
▼ + stars: | 2023-04-13 | by ( Silvia Amaro | ) www.cnbc.com time to read: +4 min

G-7 nations have so far decided not to revise their cap on Russian oil. She called for policymakers to lower the level of the price cap to continue to pressure the Kremlin's finances. Is the price cap working? Ultimately, Kirkegaard said there was no explicit way to determine whether the oil cap is effective or not. India, China snap up Russian oil

☆ Estonia PM focused on defence spending and same sex marriage law
▼ + stars: | 2023-04-12 | by ( Andrius Sytas | ) www.reuters.com time to read: +3 min

[1/2] Estonian Prime Minister Kaja Kallas speaks to the media as she attends the European Union leaders summit in Brussels, Belgium March 23, 2023. REUTERS/Johanna GeronTALLINN, April 12 (Reuters) - Kaja Kallas said on Wednesday she was focused on her next term as Estonian prime minister despite media speculation she could be in the running to lead NATO, with plans including legalising same sex marriage and increasing defence spending. Taxes will be raised to fund the spending in a time of economic contraction, Kallas has said. The new government will also legislate same sex marriage equality "as fast as possible", Kallas said, becoming the first Central European country to do so. I'm the prime minister of Estonia, and I try to solve all the problems that we have here."

☆ How Ukraine's closest allies turned the tide on sending advanced tanks, and could do the same for military jets
▼ + stars: | 2023-03-28 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +10 min

Their success, an expert told Insider, shows how Europe's balance of power has shifted eastwards since Russia's invasion in February 2022. Sergei Grits/APEstonian Foreign Minister Urmas Reinsalu told Insider that Ukraine's allies had been "too slow" when deciding to send weapons to Ukraine. AP Photo/Martin Meissner, FileReinsalu, Estonia's foreign minister, told Insider that he had repeatedly engaged with his German counterpart about the decision. Kallas and Šimonytė, the two prime ministers, both told Insider that they support Ukraine getting military jets. "Ordinarily, on less critical matters, peer pressure happens but the public sees very little of it or none of it," he told Insider.

☆ Europe's leaders battle banking crisis as market rout hangs over Brussels summit
▼ + stars: | 2023-03-24 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

Ludovic Marin | Afp | Getty Imageswatch now"The euro area banking sector is strong because we have applied the regulatory reforms agreed internationally after the Global Financial Crisis to all of them," she said, according to EU sources. Geopolitics dominated the first day of talks, but the banking turmoil ended up being the focus for Friday. In the run up to the gathering, European officials had expressed their frustration with the lack of regulatory controls in the United States, where the recent banking turmoil first emerged. They have been nervous about potential contagion to their own banking sector, mainly as it's not been that long since European banks were in the depths of the global financial crisis. "The banking sector in Europe is much stronger, because we have been through the financial crisis," Estonia Prime Minister Kaja Kallas told CNBC Thursday.

☆ Estonia’s Premier Wins Second Term After Pro-Ukraine Campaign
▼ + stars: | 2023-03-06 | by ( Drew Hinshaw | ) www.wsj.com time to read: 1 min

Estonian Prime Minister Kaja Kallas has argued that should Ukraine lose the war, Moscow would pivot to her country next. Estonian Prime Minister Kaja Kallas , one of Ukraine’s staunchest backers among Western leaders, was re-elected on Sunday, handily defeating an opposition that had questioned her government’s arms deliveries to Ukraine and signaling continuing support for Kyiv in Europe’s east. The center-right leader’s Reform Party was set to hold 37 seats in the Baltic country’s Parliament, three more than it secured in the last election four years ago, according to results published Monday by the Estonian National Electoral Committee. Her principal opponents, the more right-wing Conservative People’s Party, took just 17 of the chamber’s 101 seats, two fewer than it previously controlled.

☆ Estonia goes to polls in a test for pro-Kyiv government
▼ + stars: | 2023-03-05 | by ( ) www.reuters.com time to read: +2 min

If, as opinion polls predict, Prime Minister Kaja Kallas' liberal Reform party wins the election and successfully crafts a coalition it would cement the Baltic nation's pro-European direction. Estonia would also stay on course to adopt more green energy and continue to accept refugees from Ukraine. The polls close at 20.00 local time (18.00 GMT), with most electoral districts expected to report their tallies by midnight. Kallas and EKRE leader Martin Helme both told Reuters this week they hope to lead the next coalition government. "People are really scared about the future, and the main parties, especially the governing parties, have no real answers," he added.

☆ Swedish PM ready to restart talks with Turkey when Ankara is
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

TALLINN, Feb 7 (Reuters) - Swedish Prime Minister Ulf Kristersson said on Tuesday he was ready to restart stalled negotiations over Sweden's application to join NATO as soon as Turkey was. It is hard to have good talks when things are literally burning around you," Kristersson told a news conference during a visit to Estonia's capital. He said preconditions for restarting talks were good, but that with Turkish elections due in May, it was understandable Turkey was focused on domestic policy. "The goal is to be accepted as soon as possible, both Finland and Sweden," Niinisto told a joint news conference in Helsinki with Canada's visiting governor general. Finland and Sweden are progressing in full "co-understanding" and remain in close contact with NATO's headquarters, the White House and Turkey, Niinisto said.

☆ Latvia says traders use Turkey, Kazakhstan, Armenia to dodge Russia sanctions
▼ + stars: | 2023-02-03 | by ( Andrius Sytas | ) www.reuters.com time to read: +2 min

VILNIUS, Feb 3 (Reuters) - Traders are using Turkey, Kazakhstan and Armenia to evade European Union sanctions on Russia in a tactic that breaches these countries' compliance with the bloc's embargo, Latvia's prime minister said on Friday. Krisjanis Karins made the assertion following talks with counterparts from fellow EU members Estonia and Lithuania, which along with Latvia have been among most vocal supporters of sanctions on Russia following its 2022 invasion of Ukraine. "It seems quite clear that traders are finding ways to legally trade goods, say with Turkey, Kazakhstan or Armenia which are then resent to Russia, because these countries are not adhering to the sanctions regime", Karins told reporters in the Estonian capital Tallinn. There was no immediate response from the foreign ministries of Turkey and Kazakhstan to requests for comment on the remarks by Karins. At the same time, it opposes Western sanctions on Russia and has close ties with both Moscow and Kyiv, its Black Sea neighbours.

☆ Analysis: IOC on spot over Russian presence at 2024 Olympics
▼ + stars: | 2023-02-01 | by ( Karolos Grohmann | ) www.reuters.com time to read: +6 min

Some 18 months before the competition is due to start, the IOC is desperate to calm the waters. "Currently within the IOC, there is a lot of attention now on the Ukraine issue and the Russian athletes and any opposition," an Olympic movement insider told Reuters on condition of anonymity. "A sports boycott serves nothing," IOC President Thomas Bach said on the 40th anniversary of the 1980 Moscow Games boycott by some Western states. The IOC, host city, and international federations would ultimately benefit if Russian participation was perceived as upholding the Games' universal and neutral character. The IOC had also called for a ban of Russian and Belarusian athletes in international competitions as part of "protective measures" given the volatile situation.

☆ From FTX to Adani Group, Fraud Allegations Are Going to Rise
▼ + stars: | 2023-01-31 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +5 min

Then there's the Adani Group, which lost a jaw-dropping $72 billion in market value after short-seller firm Hindenburg Research last week accused it of "brazen" market manipulation and accounting fraud. Adani Group, whose founder's net worth recently approached Elon Musk's, has vehemently denied the allegations. Could Wall Street get hit by the Adani Group fiasco? But Wall Street is placing its bets on a California chipmaker, helping its founder get richer to the tune of $5 billion. From Madonna to Tom Brady, many celebrities who shilled for crypto or NFTs are either being sued civilly or facing regulatory scrutiny, according to the Wall Street Journal.

☆ UK's Sunak to attend Baltic summit, meet UK troops in Estonia
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +1 min

Dec 19 (Reuters) - British Prime Minister Rishi Sunak will meet his Nordic, Baltic and Dutch counterparts at the Joint Expeditionary Force (JEF) summit in the Latvian capital Riga on Monday, before heading to Estonia to meet British and NATO troops, the government said. The JEF, a British-led group of Denmark, Estonia, Finland and Iceland, Latvia, Lithuania, the Netherlands, Norway and Sweden, will be addressed by Ukrainian President Volodymyr Zelenskiy. At the summit, Sunak will call on leaders to sustain or increase lethal aid, economic resilience and political backing to Ukraine in its resistance against Russia's invasion, according to a British government statement. After the JEF summit, Sunak is expected to meet Latvian Prime Minister Krisjanis Karins, before heading to Estonia to meet UK and NATO troops serving on the military alliance's eastern flank on the Russian border. Sunak will sign a technology partnership agreement with the Prime Minister of Estonia, Kaja Kallas, to bolster technology ties and support new digital infrastructure, the statement said.

☆ Junior bankers sound off: From how much sleep they get to what kind of company they want to work for next, first-year investment banking analysts spill the beans
▼ + stars: | 2022-12-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Junior bankers hold an interesting position on Wall Street. While these young investment bankers are often the butt of the joke — something something Murray Hill something something Patagonia vests — they also represent a key piece of the dealmaking machine. That's why I always find surveys of junior bankers so fascinating. Emmalyse examined 10 different slides from the poll, which was conducted by recruiting firm Odyssey Search Partners, that show what junior bankers like, and don't like, about their jobs. Click here to learn more about what junior bankers love, and hate, about their jobs.

☆ Companies should compete on merits not subsidies, Estonia's prime minister says
▼ + stars: | 2022-12-15 | 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 EmailCompanies should compete on merits not subsidies, Estonia's prime minister saysKaja Kallas, Estonian prime minister, discusses the European leaders meeting in Brussels, and how energy ministers are currently navigating conversations surrounding the EU price cap.

"We've been too naïve ... for far too long," a justice ministry spokesperson said, referring to what he called clandestine operations by foreign powers in Belgium. The other three suspects arrested and charged last week were meanwhile questioned, as planned, on Wednesday by a three-judge panel. Niccolo Figa-Talamanca, the secretary-general of a rule of law campaign group, will leave jail but wear an electronic ankle tag. The European Parliament on Tuesday voted to strip Kaili, a 44-year old Greek Socialist MEP, of her vice presidency role. Although no state was publicly named by prosecutors, a source with knowledge of the case said it was Qatar.

☆ A market downturn hasn't made activist investing any easier. Here's why.
▼ + stars: | 2022-12-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

But even with a market downturn, activist investors' campaigns haven't been the cakewalk some might expect. Insider's Daniel Geiger, Rebecca Ungarino, and Casey Sullivan spoke to industry insiders — including famed activist investor Carl Icahn — about why the current landscape isn't as accepting as some might think to activist campaigns. But when the going gets tough, the tough get going, and a difficult market environment doesn't mean we'll see the number of campaigns decrease. Click here to read more about why top activist investors like Carl Icahn say this line of work is riskier than ever. Here's a five-step plan to help you decide when that side gig you have should be the only gig you have.

☆ Carlyle just promoted 71 people to leadership positions, including 32 to partner status. See who made the list.
▼ + stars: | 2022-11-22 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +2 min

Private equity giant Carlyle just promoted 32 people to partner and 39 to managing director. The list includes 8 real estate execs, 8 US buyout execs, and one focused on DEI. The Washington, DC-based buyout firm, which boasts $369 billions in assets, promoted 32 of its 2,100-person workforce to partner, the highest status one can achieve at the firm. All three of its main business segments were represented, including global private equity, global credit and global investment solutions, according to a spokesperson. The list includes three European buyout executives and eight US buyout executives, including Tanaka Maswoswe, who leads buyouts in the industrial and transportation sectors, and was included in a 2021 Insider list highlighting some of the firm's top investors.

☆ Splits emerge among Ukraine allies over whether Ukraine should negotiate with Russia
▼ + stars: | 2022-11-18 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Patrick-Smith-Circle-Byline-Template.Jpg | Patrick Smith | ) www.nbcnews.com time to read: +4 min

LONDON — A split appeared to be opening this week among Ukraine's supporters over whether its government should sit down for peace talks with Russia. He was summing up the feelings of many in the countries bordering Ukraine or Russia. In a separate interview with The Times of London, Lipavský accused Russia of behaving like a 19th century colonial empire. Czech Foreign Minister Jan Lipavský, in Brussels this week, said the West should not dictate the terms on which Ukraine should negotiate. Michael McFaul, the U.S. ambassador to Russia from 2012 to 2014, said that while many would back the idea of peace talks, not everyone would believe Putin would "negotiate in good faith."

☆ Russian assets seized in Ukraine may be used for reconstruction - minister
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +1 min

KYIV, Oct 28 (Reuters) - Assets belonging to Russian and Belarusian individuals seized by Ukraine could be used for the country's massive post-war reconstruction effort, Finance Minister Serhiy Marchenko was quoted on Friday as saying. The government has frozen Russian and Belarusian assets in Ukraine worth some 44 billion hryvnias ($1.21 billion) since the start of Moscow's invasion on Feb. 24, according to the Economic Security Bureau, a state agency. "Money seized on the territory of Ukraine from Russian and Belarusian citizens can be involved in this fund," he added, without elaborating. The European Union is also looking at using Russian assets frozen under Western sanctions against Moscow in the postwar reconstruction of Ukraine, the head of the European Council, Charles Michel, said at an EU summit last week. Moscow said on Thursday it would retaliate if the EU moved to confiscate assets belonging to the Russian state or its citizens.

Wall Street banks committed to helping Elon Musk finance his $44 billion takeover of Twitter stand to $500 million in the process, by some estimates. One of Musk's banks has even told its staff to expect a borrowing notice from Musk by today, Bloomberg reported. But don't feel sorry for the banks just yet — a group that comprises Morgan Stanley, Bank of America, Barclays, MUFG, BNP Paribas, Mizuho, and SocGen. The group consists of Morgan Stanley, Bank of America, Barclays, MUFG, BNP Paribas, Mizuho, and SocGen. Birchall's eldest son Benjamin even interned at Morgan Stanley for his ex-colleagues Frank Malone and Jon Neuhaus in the summer of 2021.

☆ EU leaders seek united front on China dependency
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +2 min

BRUSSELS, Oct 21 (Reuters) - European Union leaders expressed increasing concern on Friday about economic reliance on China, mindful of the gas dependency built up with Russia that Moscow has exploited, and said they needed a united stance towards Beijing. The EU has regarded China since 2019 as a partner, economic competitor and systemic rival. German Chancellor Olaf Scholz did not speak to reporters before Friday's summit session, but the EU leaders that did agreed the 27 EU members needed to present a common front. "China is best dealt with when we are 27, not when we are one on one vis-à-vis China," he said. Finnish counterpart Sanna Marin stressed the EU needed to avoid building future dependencies and instead promote stronger cooperation between democratic countries.

The previous day, the 27 EU leaders locked horns over a joint response to the acute energy crunch that has engulfed the bloc since Russia invaded Ukraine in February. Smaller countries also appealed for a united EU front vis-a-vis Beijing, pointing to German Chancellor Olaf Scholz's planned visit to China next month. "Germany's industrial strategy, and its economic model that feeds it, is toxic for the EU," Eurointelligence said in a commentary on Thursday. Germany, the EU's biggest economy, also leads the small EU camp opposed to capping gas prices, with Scholz defending himself on Thursday against accusations from other EU leaders that Berlin is pursuing selfish and unfair energy policies. Some EU countries want wider sanctions imposed on Iran, and the summit will also condemn Tehran's use of force against protests.

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