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☆ CNBC Daily Open: More signs the Fed might stop hiking
▼ + stars: | 2023-07-31 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Cooling inflationThe U.S. personal consumption expenditures price index rose just 3% year-over-year in June, and 0.2% from a month ago. Mixed activity for China's economyChina's official manufacturing purchasing managers' index factory activity came in at 49.3 in July. CNBC Pro's Sarah Min breaks down what analysts are expecting from those data points releasing this week.

Persons: Hong, Sarah Min Organizations: CNBC, Federal Reserve, PMI, ANZ, Oil, Apple, Amazon, Dow Jones Industrial, Big Tech Locations: Asia, Pacific, India, China

☆ Olga Kharlan: Ukraine's top fencer granted place at Olympics after disqualification for not shaking hands with Russian opponent
▼ + stars: | 2023-07-28 | by ( Svitlana Vlasova Victoria Butenko Tim Lister | Svitlana Vlasova | Victoria Butenko | ) edition.cnn.com time to read: +5 min

Olga Kharlan, leader of Ukraine’s national fencing team, was earlier disqualified at the tournament after she refused to shake hands with the Russian rival Anna Smirnova she defeated. An athlete’s refusal to shake hands after a contest results in a black card and expulsion, according to International Fencing Federation rules. The federation said it has met with Kharlan and spoken with the International Olympic Committee and finds the reinstatement “in keeping with the Olympic Spirit”. IOC chief’s interventionThat turnaround came came after a pointed intervention from the President of the International Olympic Committee, Thomas Bach, himself a former fencer. Meanwhile, Ukrainian tennis player Elina Svitolina took to Twitter to support Kharlan, writing: “We are not shaking hands with Russian and Belarusian athletes.

Persons: Olga Kharlan, Anna Smirnova, Smirnova, Kharlan, Thomas Bach, Bach, ”, Olga Kharlan of, Tadashi Miyamoto, “, Dmytro Kuleba, ” Kharlan, Vladimir Putin, Marta Kostyuk, Kostyuk, Aryna Sabalenka, Sabalenka, won’t, Elina Svitolina Organizations: CNN, International Fencing Federation, Paris, Fencing, International Olympic Committee, IOC, Paris Olympics, Fencing Federation, Ukraine’s, Belarus, Aryna, Twitter Locations: Ukrainian, Italy, Russian, Ukraine, Milan, Olga Kharlan of Ukraine, Russia, Kyiv, Belarusian

Battles raged in southern Ukraine on Thursday, as Kyiv’s stepped-up offensive against the Russian occupation made small gains, according to Russian, Ukrainian and Western analysts and officials, but the scope of the assaults and their toll remained unclear. A day after U.S. officials said the main thrust of Ukraine’s counteroffensive appeared to have begun, President Vladimir V. Putin of Russia said, “We confirm that hostilities have intensified and in a significant way.”But there was minimal, and sometimes contradictory, information about how many troops and armored vehicles Ukraine had committed so far to its attempt to punch holes through Russia’s daunting defensive network. Crucially, it was also unclear what kind of losses either side was suffering, in soldiers and weaponry. What is clear is that Ukraine has significantly ratcheted up its seven-week-old counteroffensive, along two southward thrusts apparently aimed at cities in the Zaporizhzhia region: Melitopol, near the Sea of Azov, and Berdiansk, to the east, on the Azov coast. In both cases, the Ukrainians have advanced only a few miles so far and have dozens of miles to go.

Persons: Kyiv’s, Vladimir V, Putin, “ Locations: Ukraine, Russia, Azov

The new aid package, which was first reported by Reuters, will include for the first time U.S. furnished Black Hornet surveillance drones made by Teledyne FLIR Defense, part of Teledyne Technologies (TDY.N). The Norwegian-built Hornet is being used in Ukraine through donations by the British and Norwegian governments, the company said. More than $43 billion in U.S. military aid has been provided since Russia's invasion in 2022. Commenting on the aid announcement, Secretary of State Antony Blinken noted Russia's attacks on Ukraine ports and Ukrainian infrastructure since withdrawing from the Black Sea Grain Initiative last week. The Black Sea grain deal was brokered by the United Nations and Turkey a year ago to combat a global food crisis worsened by Russia's invasion.

Persons: Russia grinds, Antony Blinken, Blinken, Mike Stone, Patricia Zengerle, Ismail Shakil, Katharine Jackson, Matthew Lewis, Grant McCool Organizations: U.S . Department of Defense, Ukraine, Reuters, Teledyne FLIR Defense, Teledyne Technologies, British, Systems, U.S . Army, Patriot, Air Missile Systems, High Mobility Artillery Rocket Systems, Stryker, Carriers, Authority, United, European Union, Thomson Locations: Russia, Norwegian, Ukraine, United States, United Nations, Turkey, Britain, Washington, Ottawa

☆ After Prigozhin’s Mutiny, Putin Is Doubling Down on Failure - The New York Times
▼ + stars: | 2023-07-19 | by ( Dara Massicot | ) www.nytimes.com time to read: +2 min

In the wake of Yevgeny Prigozhin’s failed rebellion, it seems as if Russia’s leaders are living in an alternate reality. Most strangely, Mr. Prigozhin — the architect of it all — goes between being ‘‘unpersoned’’ to apparently meeting with Mr. Putin to smooth over differences of opinion. Yet on the ground, the Russian war effort grinds on as before. Mr. Shoigu and Gen. Valeriy Gerasimov, Russia’s highest-ranking officer, will continue to conduct the war in an inept fashion. Retained by Mr. Putin for their loyalty, they are now even more likely to suppress negative information and present a distorted image of the war.

Persons: Yevgeny Prigozhin’s, Wagner, Vladimir Putin, Sergei Shoigu, chatted, Sergei Surovikin, Prigozhin, ’, Putin, It’s, Shoigu, Valeriy Organizations: . Defense, Russia’s, Mr Locations: Moscow, Russian, Belgorod, Crimea, Ukraine

Kyiv, Ukraine CNN —Despite an underwhelming first month of Ukraine’s much-anticipated summer push to liberate territory from Russian forces, Kyiv says its Western backers are not pressuring the country for quick results. Ukraine had hoped to use the push to expel a significant amount of Russian forces from Ukrainian soil and turn the tide of the war. Asked by CNN if Ukraine’s western allies were looking for quicker gains on the battlefield, Yermak said there was no such pressure from partner countries. Ukrainian Army spokesman Serhiy Cherevatyi said on Ukrainian television that Russian forces are putting up a “fierce resistance,” but Ukraine has the initiative. In his comments Saturday morning, southern command head Tarnavsky told Ukrainian TV viewers that nine Russian ammunition depots had been destroyed in the last day.

Persons: Andriy Yermak, Volodymyr Zelensky, Yermak, Serhiy Cherevatyi, ”, Daniel Carde, Kupiansk, Cherevatyi, “, ” Lyman, ” Cherevatyi, Rob Lee, ” Lee, Alex Chan Tsz Yuk, Oleksandr Tarnavsky, Tarnavsky Organizations: Ukraine CNN, NATO, CNN, United, Army Tactical Missile Systems, Bakhmut, Ukrainian, State, Anadolu Agency, Getty, Kremlin, Arms Army Locations: Kyiv, Ukraine, Ukraine’s, Russian, Ukrainian, Lithuania, United States, France, United Kingdom, Bakhmut, Berhivka, Vremivka, Lyman, Donetsk, Russia, Novoselivske, Crimean, Zaporizhzhia, Berdiansk

☆ The Best Home and Kitchen Deals to Shop This Prime Day
▼ + stars: | 2023-07-11 | by ( Madeline Diamond | ) www.wsj.com time to read: +8 min

It performed the best out of all the models we tried out when searching for the best air purifier—in our test, it cleared out 98.6% of smoke in just 30 minutes. It normally has a hefty price tag, but it’s marked down by 30% for Prime Day. For Prime Day, the vacuum is 40% off (that’s $400 in savings), which is the lowest price we’ve tracked this year. It’s nearly 30% off for Prime Day, so you might even want to stock up on a few. It normally goes for $130, but during Prime Day you can score one for $47 (that’s a 65% discount).

Persons: Madeline Diamond, it’s, Burr, fryer, —, Joseph Joseph, Sobel Westex, It’s, We’re, you’ve, now’s, Bissell, We’ve Organizations: Prime, Tree Company Locations: Eufy

☆ The war in Ukraine will define Biden’s legacy, but peril and uncertainty lie ahead
▼ + stars: | 2023-07-06 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

They include:— A war of words between Ukraine and Russia over the Zaporizhzhia nuclear power plant after Ukrainian President Volodymyr Zelensky accused Russia of readying a bomb attack. The back-and-forth is raising fears of another alarming new dimension to a war already marred by alleged war crimes and terrible suffering among civilians. In response, Kremlin spokesman Dmitry Peskov warned that the potential for “sabotage” by Ukraine at the plant was high. Given Russia’s previous nuclear rhetoric and fog of war misinformation, many Western observers are likely to give Zelensky the benefit of the doubt. Zelensky argued in the interview that the uprising exposed splits inside Russia over the war and an erosion of Russians’ positions.

Persons: Joe Biden’s, Biden, Volodymyr Zelensky, Wagner, Vladimir Putin’s, CNN’s Erin Burnett, Zelensky, Dmitry Peskov, –, CNN’s Christian Edwards, Yevgeny Prigozhin, ” Zelensky, Putin, Mike Turner of, CNN’s Jake Tapper, ”, Burnett, “, Hanna Maliar, Donald Trump, Mitch McConnell, Xi Jinping, what’s, ” McConnell, “ That’s, it’s, McConnell Organizations: CNN, NATO, Kremlin, UN, International Atomic Energy Agency, Wagner Group, Senior, House Intelligence, Ukrainian, Republican, Senate, Kentucky Republican, America, Trump Locations: Ukraine, Lithuania, Baltic, Soviet Union, Russia, readying, Russian, Belarus, Moscow, Mike Turner of Ohio, Klishchiivka, Bakhmut, Washington, Europe, Fort Knox

Sweden broke from decades of neutrality following the Russian invasion of Ukraine last year by seeking to join NATO. Mr. Erdogan has also invested himself deeply in the matter, having long insisted that Western nations do not take his concerns about Kurdish terrorism seriously enough. U.S. officials insist their support for the arms sale is not linked to Mr. Erdogan’s position on Sweden. But after a late May phone call with the Turkish leader, Mr. Biden told reporters:“He still wants to work on something on the F-16s. Analysts say it is unclear whether Mr. Biden can convince them to change their position.

Persons: Erdogan, Biden, Mr, Bob Menendez Organizations: NATO, Sweden, Bloomberg, Senate Foreign Relations, Bob Menendez of New Locations: Ukraine, Hungary, Turkey, Sweden, Washington . U.S, Bob Menendez of, Bob Menendez of New Jersey

A worker grinds at a workshop of an equipment manufacturing company in Qingzhou Economic Development Zone, East China's Shandong province, March 31, 2023. Asia-Pacific markets are set for a mixed open ahead of a slew of manufacturing activity reports being released around the region. Most notably, China's Caixin manufacturing purchasing managers index will be released today. Private surveys for factory activity in Japan, South Korea, Taiwan and India will be released today as well as Thailand, Indonesia, Malaysia, the Philippines and Vietnam. In Japan, the Nikkei 225 is set to open higher, with the futures contract in Chicago at 33,485, and its counterpart in Osaka at 33,420 against its last close at 33,189.04.

Persons: grinds Organizations: Reuters, Nikkei Locations: East China's Shandong province, Asia, Pacific, Japan, South Korea, Taiwan, India, Thailand, Indonesia, Malaysia, Philippines, Vietnam, Chicago, Osaka

☆ Travel insurance could help with weather-related flight cancellations. Here’s how
▼ + stars: | 2023-07-02 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

For example, while most airlines will book you on the next available flight, it may not depart for days. If you decide to switch airlines, be ready to pay a pretty penny — if you can even find a flight out. Using travel insurance to recoup costsTravel insurance purchases are up 9% for trips this 4th of July compared to last year, according to data shared with CNN by InsureMyTrip, a travel insurance marketplace. A lot of travel policies will cover expenses you incur from a flight that was canceled due to weather conditions, said Meghan Walch, director of product for InsureMyTrip. In most cases you must pay for those expenses upfront and file a claim later to receive reimbursement, Walch told CNN.

Persons: Taylor Swift, Meghan Walch, ”, “, Walch Organizations: New, New York CNN, CNN, InsureMyTrip, Allianz Travel Insurance Locations: New York

☆ Thousands of California hotel workers go on strike amid holiday weekend, demanding better pay and benefits
▼ + stars: | 2023-07-02 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +4 min

Thousands of hotel employees across LA and southern California went on strike Sunday. 96% of the union voted last month to authorize a strike amid disputes over pay and benefits. The union's website states that it represents over 32,000 workers across Southern California and Arizona, and at least 15,000 workers are affected by the current dispute. About 600 of the union's members are not striking as LA's largest hotel, the Westin Bonaventure, agreed to a tentative deal with its union workers last week. The strike is the latest labor dispute to reach this extreme in Los Angeles, which has seen multiple over the last few months, per the Times.

Persons: —, Kurt Petersen, We're, it's, Emely Lopez, Insider's Reed Alexander Organizations: Service, CNN, New York Times, Westin Bonaventure, Intercontinental, KTLA, . Teachers, Hollywood Locations: LA, California, Los Angeles, Orange, Southern California, Arizona

☆ Opinion | The American Empire in the Fog of Ukraine
▼ + stars: | 2023-06-30 | by ( Ross Douthat | ) www.nytimes.com time to read: +2 min

In a critique of the political thinker James Burnham, penned in the wake of World War II, George Orwell wrote:Power worship blurs political judgment because it leads, almost unavoidably, to the belief that present trends will continue. Whoever is winning at the moment will always seem to be invincible. But a war that seems stalemated, that grinds without dramatic shifts, poses a somewhat different challenge to political judgment; the observer is always tempted to discern a certain trend, a sweeping historical judgment, amid a state of ebb and flow and wartime fog. The war in Ukraine is a case study, yielding very different big-picture arguments based on developments from month to month and even week to week. The same pattern applies to analysis of how the war fits in the global power picture.

Persons: James Burnham, George Orwell, Orwell, Yevgeny Prigozhin, Samuel Huntington’s, Francis Fukuyama’s Locations: South Asia, Asia, Tobruk, Cairo, Berlin, London, Ukraine

☆ Opinion: What Putin’s awkward meeting with Russia’s war bloggers reveals
▼ + stars: | 2023-06-20 | by ( Opinion Mark Galeotti | ) edition.cnn.com time to read: +6 min

However, in Russia there is a particular issue: Russians have long become used to being lied to by their state. Even before the war, almost half got their news from social media, with the proportion having risen since the invasion. They have thus become powerful not just in shaping the domestic narrative, but also in the Kremlin’s wider information war. Even Putin has come to realise that to spin his message, he can no longer stick to the official media. Hence his carefully-choreographed sit-down with a group hand-picked from both the official war correspondents and the online voenkory.

Persons: Mark Galeotti, Vladimir Putin, influencers, ”, –, Semyon Pegov, Yury Podolyaka, Putin, Yevgeny Prigozhin, Wagner, Igor ‘ Strelkov, Girkin, ’, voenkory, He’s, voenkor ” Organizations: Mayak Intelligence, University College London, CNN, Mark Galeotti Mayak Intelligence, Kremlin, Twitter, Facebook Locations: Chechnya, Ukraine, Russia, Afghanistan, Russian, Kremlin Ukrainian, Crimea, Belgorod

The fresh data offer the latest evidence that the Fed’s push to control rapid price increases is beginning to work. Investors have been betting that Fed officials will leave rates unchanged at their meeting this week, breaking their long streak of increases. Even so, many investors continue to expect that Fed officials will restart rate increases in July. That “core” price index rose 5.3 percent in May compared with a year earlier. And price increases for goods excluding motor vehicles remained positive, instead of subtracting from inflation as some economists have been expecting.

Persons: “, ” Laura Rosner, Warburton, Airfares, Ms, Rosner, Jerome H, Powell Organizations: Federal Reserve, Fed, Mortgage, Association

A group of hard-line Republicans hijacked the House floor on Tuesday, grinding legislative business to a halt for several hours in a striking display of ire at Speaker Kevin McCarthy for making a deal with President Biden to suspend the debt limit and banding together with Democrats to muscle it to passage. The mutiny, staged by nearly a dozen members of the ultraconservative House Freedom Caucus as leaders sought to bring up legislation to guard against restrictions on gas stoves and other federal regulations, reflected the bitter acrimony lingering in the Republican ranks after passage of the debt limit measure last week. It indicated that, even as right-wing lawmakers suggest they are not yet inclined to try to oust Mr. McCarthy from his post over the compromise, they plan to use their clout in the closely divided House to make the speaker’s job impossible unless he bows to their will. “We’re concerned that the fundamental commitments that allowed Kevin McCarthy to assume the speakership have been violated as a consequence of the debt limit deal, and the answer for us is to reassert House conservatives as the appropriate coalition partner for our leadership, instead of them making common cause with Democrats,” Representative Matt Gaetz of Florida told reporters.

Persons: Kevin McCarthy, Biden, Mr, McCarthy, “ We’re, Matt Gaetz Organizations: Republicans, Caucus, Republican Locations: Florida

☆ The Rapper Toomaj Salehi’s Arrest Shows Iran’s Crackdown on Dissent Is Failing - The New York Times
▼ + stars: | 2023-05-31 | by ( Holly Dagres | ) www.nytimes.com time to read: +2 min

When the anti-regime protests kicked off in September 2022, Mr. Salehi, like many Iranians, found he couldn’t sit on the sidelines. Despite the risk of returning to prison, he uploaded videos of his peaceful participation from the streets of Shahin Shahr and recorded two songs highlighting the bravery and plight Iran’s people. Knowing he faced arrest again, Mr. Salehi left his home in Shahin Shahr, and with the help of friends, reportedly moved from one safe house to the next. A member of Germany’s Parliament, Ye-One Rhie, chose Mr. Salehi. Ms. Rhie said that Mr. Salehi was in solitary confinement, and has had limited contact with his lawyer since his arrest.

Persons: Salehi, ”, “, —, Ms, Rhie, hasn’t Organizations: Islamic Locations: Shahin Shahr, Islamic Republic, Iranian, Ye, Salehi

☆ Here's how Bank of America is telling traders to invest up and down the spectrum from large cap to small to book maximum profits while playing smart defense
▼ + stars: | 2023-05-31 | by ( Marley Jay | ) www.businessinsider.com time to read: +5 min

Its equity strategists say that value criteria tend to work best in small- and mid-cap stocks. They added that small caps are an especially good pathway to diversification right now. But they noted that investors can use small caps to diversify their portfolios while also being rewarded for better stock picking. "High Projected Long-Term Growth has not been a strong stock selection factor over the long-term," they wrote. "The best way to pick stocks within small caps over the long-term has been buying stocks with high free cash flow to enterprise value" and other metrics based on free cash flow yields.

Persons: Subramanian, it's, Jill Carey Hall, Nicolas Woods, Woods, Russell, Russell MidCap Organizations: of America, Bank of America, US Equity, Materials, Nasdaq, Bank of

☆ It’s Not Just the Debt Ceiling
▼ + stars: | 2023-05-26 | by ( Jeff Sommer | ) www.nytimes.com time to read: +3 min

These include:The potential for economic drag from the more restrictive fiscal policy that House Republicans are demanding from President Biden as a prerequisite for an increase in the debt ceiling. Oddly, the debt ceiling crisis provided temporary relief for many of the nation’s banks, economists for Moody’s Investor Service found in a recent study. “The debt ceiling impasse has been a tailwind for the banks,” Jill Cetina, associate managing director for Moody’s, said in an interview. But once the debt ceiling is lifted and the Treasury begins to raise money by selling large quantities of bonds, those purchases by investors in the open market will drain money from banks. “This may not be what you would expect, but the resolution of the debt ceiling crisis will be a headwind for banks,” she said.

☆ A Loud Republican Minority Opposes More Ukraine Military Aid
▼ + stars: | 2023-05-19 | by ( Robert Draper | ) www.nytimes.com time to read: +1 min

A congressional delegation of five Republicans and two Democrats met with representatives of Ukraine’s Parliament this month in Poland, where the Ukrainians thanked the delegation for American aid and asked for F-16 fighter jets to help in the war against Russia. Three members of the delegation described the meeting as cordial and informative. One left the session in a state of indignation. Ms. Luna is among the boisterous proponents in Congress of former President Donald J. Trump’s “America first” worldview that regards financial commitments overseas with extreme skepticism. Senior Republicans who support the war, and maintain the hawkish traditions of the establishment G.O.P., fear the movement will gain momentum as the conflict grinds on and Mr. Trump’s candidacy consumes the 2024 spotlight.

It was against that backdrop that Biden and his fellow leaders entered three days of talks. Biden faces his fellow world leaders Friday in Japan under the shadow of a looming default on US debt, a scenario his advisers said risks subverting American leadership and sending the global economy into tailspin. The risk appears particularly acute as Biden works to rally fellow G7 officials behind a shared approach toward Russia and China. The conflict will be a key topic of discussion for world leaders Friday. Biden and fellow leaders were planning to discuss how much progress has been made on the battlefield, with an eye toward helping Ukraine regain territory and assume leverage in potential peace talks.

☆ Check out the wild robot that Sam's Club is testing to make burgers in its cafes
▼ + stars: | 2023-05-14 | by ( Ben Tobin | ) www.businessinsider.com time to read: +2 min

Sam's Club recently unveiled a robot that can assemble a burger start-to-finish without humans. Walmart-owned Sam's Club is testing out a robot that can assemble your burgers — toppings, seasoning, and all — at a location in Fayetteville, Arkansas, not far from the company's headquarters of Bentonville. Sam's Club declined to comment when Insider reached out about the robot. Sam's Club does not have any current plans to roll out this robot nationwide, Tim Simmons, Sam's Club senior vice president and chief product officer, told Axios. Have you tried the Sam's Club burger or do you want to?

☆ Home buying costs could spike by 22% if US defaults on its debt
▼ + stars: | 2023-05-11 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

Housing costs would spike by 22% with the rate for 30-year, fixed rate mortgages rising above 8%. “While we don’t expect a debt default to occur, if it did, it would have unprecedented effects on the financial system,” said Jeff Tucker, a senior economist at Zillow. If there were to be a debt default, the biggest projected deficit would come in September, with an estimated 23% fewer existing home sales. Mortgage rates tend to follow yields on 10 year Treasury bonds and would likely rise, too. “It is a looming risk about a month away, so it isn’t yet wreaking havoc on 30-year mortgage rates.

☆ Sam's Club is testing out a robot that can grill and assemble your burger. And you can order and pay for it without even speaking to a human.
▼ + stars: | 2023-05-03 | by ( Ben Tobin | ) www.businessinsider.com time to read: +2 min

Sam's Club recently unveiled a robot that can assemble a burger start-to-finish without humans. Walmart-owned Sam's Club is testing out a robot that can assemble your burgers — toppings, seasoning, and all — at a location in Fayeteville, Arkansas, not far from the company's headquarters of Bentonville. Sam's Club declined to comment when Insider reached out about the robot. Sam's Club does not have any current plans to roll out this robot nationwide, Tim Simmons, Sam's Club senior vice president and chief product officer, told Axios. Have you tried the Sam's Club burger or do you want to?

☆ Bankers’ pitch to save First Republic: Help us now, or pay more later when it fails
▼ + stars: | 2023-04-26 | by ( Hugh Son | ) www.cnbc.com time to read: +4 min

CNBC's David Faber, who first reported on the rescue plan Tuesday, said that the coming days are crucial for First Republic. But that model broke down in the aftermath of the SVB failure as its wealthy customers quickly pulled uninsured deposits. Other possible, but less-likely moves include converting the big bank's deposits into equity, or even finding a buyer. They also benefited the buyers who were able to cherry-pick the best assets while the FDIC retains underwater bonds, the First Republic advisors noted. "If anything, last night's discouraging update will make it even harder for First Republic to keep what it has."

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