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☆ New Zealand National Party's Luxon to lead new government
▼ + stars: | 2023-10-13 | by ( Lucy Craymer | ) www.reuters.com time to read: +3 min

[1/4] Christopher Luxon, Leader of the National Party waves to supporters at his election party after winning the general election to become New Zealand’s next prime minister in Auckland, New Zealand, October 14, 2023. REUTERS/David Rowland Acquire Licensing RightsWELLINGTON, Oct 14 (Reuters) - New Zealand's centre-right National Party led by Christopher Luxon will form a new government with its preferred coalition party ACT, as Prime Minister Chris Hipkins conceded his Labour Party could not form a government after Saturday's general election. The National Party, now in opposition, had 39% of the votes with 92% counted, while the ACT party had 9%. "On the numbers tonight National will be in the position to lead the next government," Luxon, a former executive who once ran Air New Zealand and entered politics just three years ago, told supporters in Auckland. The National-ACT majority is slim and the two parties may need support from the populist New Zealand First Party to form a government.

Persons: Christopher Luxon, David Rowland, Chris Hipkins, Ben Thomas, Jacinda Ardern, Hipkins, Maori's, Gareth Hughes, Nanaia Mahuta, Lucy Craymer, Edmund Klamann Organizations: National Party, New, REUTERS, Rights, ACT, Labour Party, Electoral, Air New, National, Zealanders, Labour, New Zealand First Party, Coalition, Green Party, New Zealand, Thomson Locations: Auckland , New Zealand, Air New Zealand, Auckland, New Zealand, New Zealanders

☆ What does the US carrier strike group near Israel bring? Tremendous firepower and an unmistakable message
▼ + stars: | 2023-10-12 | by ( Chris Panella | ) www.businessinsider.com time to read: +10 min

The USS Gerald R. Ford Carrier Strike Group was deployed in the eastern Mediterranean amid a growing crisis in Israel. Carrier strike groups host significant airpower and firepower, and the Ford's new technological capabilities make it a major presence. US officials announced the movement of the carrier strike group toward Israel on Sunday, the day after Hamas carried out deadly terror attacks against the US ally. The amount of firepower each vessel brings adds up, especially considering the capabilities of the air wing aboard USS Gerald R. Ford. It set out on a short maiden deployment last year and its first full deployment as part of a fully certified carrier strike group earlier this year.

Persons: Gerald R, —, Burke, Thomas Hudner, Ramage, USS Carney, Roosevelt, Bryan Clark, Maxwell, Ford, Clark, Gray, Jackson Adkins, Dwight D, Eisenhower, Bryan Goodman, William Sum, Israel Organizations: Ford Carrier Strike, Israel . Aircraft, Carrier, Service, US, Sunday, Israel, Ford, Ticonderoga, Arleigh, US Navy, Hudson Institute, Nimitz, Central Command, Hornets, EA, Electronic Attack, U.S . Navy, Pentagon, Defense, US Central Command, Hamas, British Royal Navy, Wall, US Department of Defense, Airborne Command, Control Squadron, Jackson Adkins US, US State Department, Israeli Defense Force, IDF Locations: Israel, Normandy, United States, Ticonderoga, Gaza, Iran, Iraq, Wellington , Florida, Panorama City , California, Persian

☆ New Zealand's economy poses challenge for election victor
▼ + stars: | 2023-10-11 | by ( Lucy Craymer | ) www.reuters.com time to read: +5 min

[1/2] Christopher Luxon, Leader of the National Party, speaks at the New Zealand National Party’s election campaign launch in Auckland, New Zealand, September 3, 2023. That will stiffen the challenge for the nation's two major parties, the centre-left Labour Party and the centre-right National Party, to deliver its agenda where rising prices and government debt have been hot-button election issues. At the same time government borrowing costs are increasing and the country’s ballooning current account deficit poses a risk to the country’s credit rating. Kelly Eckhold, chief economist at Westpac New Zealand said tough fiscal choices face an incoming government. ($1 = 1.6551 New Zealand dollars)Reporting by Lucy Craymer Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Christopher Luxon, David Rowland, won’t, Kelly Eckhold, ”, Lucy Craymer, Shri Navaratnam Organizations: National Party, New Zealand National, REUTERS, Rights, Labour Party, Bank, Bank of New, National, Statistics New Zealand, Reserve Bank of New, Labour, NZ, Westpac New Zealand, Zealand, Thomson Locations: Auckland , New Zealand, Bank of New Zealand, New Zealand, Zealanders, Reserve Bank of New Zealand

[1/3] Dmitry Muratov, editor of the now-banned independent newspaper Novaya Gazeta, stands in a courtroom before a hearing of the case of Russian veteran human rights campaigner Oleg Orlov, accused of discrediting Russia's armed forces, in Moscow, Russia October 11, 2023. Orlov, 70, was defending himself in a case based on a November 2022 article in which he wrote that Russia under President Vladimir Putin had descended into fascism. "Where is it defined that our commander-in-chief (Putin) always rightly understands not only the interests of Russia, but the interests of its citizens?" Orlov asked in his closing speech at a trial which began in June. "And if the ideas of a part of Russia's citizens about their own interests don't match those of the commander-in-chief, don't they have the right to talk about this?"

Persons: Dmitry Muratov, Oleg Orlov, Russia's, Evgenia, Orlov, acquit, Vladimir Putin, Putin, Vladimir Kara, Murza, Alexei Navalny, Gareth Jones Organizations: Novaya Gazeta, REUTERS, Memorial, Thomson Locations: Moscow, Russia, Ukraine

☆ New Zealand election winner will face defence spending decisions
▼ + stars: | 2023-10-11 | by ( Lucy Craymer | ) www.reuters.com time to read: +3 min

REUTERS/Romeo Ranoco/File Photo Acquire Licensing RightsWELLINGTON, Oct 11 (Reuters) - Whoever wins New Zealand’s election on Saturday is going to have to make some difficult decisions on investment and staffing for a defence force struggling with aging equipment and personnel shortages. The centre-right National Party led by Christopher Luxon is expected to emerge as the largest party in the Saturday vote with Prime Minister Chris Hipkin’s Labour Party coming second. Both Labour and the National Party have said they'd like to increase defence spending but have not promised to do so. Underspending on the military and the challenges it faces are well documented and it is becoming increasingly difficult to postpone costly decisions, defence analysts say. The Labour Party has campaigned on a policy of introducing an authority to set pay rates.

Persons: Te, Romeo Ranoco, Christopher Luxon, Chris Hipkin’s, “, ”, Anna Powles, Lucy Craymer, Robert Birsel Organizations: Royal New Zealand Navy, REUTERS, Rights, New Zealand Defence Force, National Party, Chris Hipkin’s Labour Party, Labour, National, ACT, Gross, Centre for Defence, Security, Massey University, New Zealand, Labour Party, Thomson Locations: Manila, Philippines, New Zealand, Pacific, South Pacific

☆ How 27-year-old Nick Simpson built the freelancing tax tool he wished he had and then raised $7.5 million in venture funding
▼ + stars: | 2023-10-11 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +4 min

WorkMade is a new startup that lets freelancers keep track of their earnings and pay taxes. Frequent freelancer Nick Simpson founded WorkMade in 2022 and scaled the startup to 12 employees. Now, the startup is launching publicly with $7.5 million in venture capital funding to date. AdvertisementAdvertisementWhen it comes time for a freelancer to pay their taxes, WorkMade manages that process too, including the payment without any forms, mail or extra calculations. According to Statista, there are an estimated 73 million freelancers working in the US this year, and that number is projected to grow to over 90 million by 2028.

Persons: Nick Simpson, WorkMade, —, Simpson, Anna Barber's, Gale Wilkinson's, Slack, Statista, I'd, I've Organizations: Service, Venture Capital, WorkMade, Piermont Bank Locations: Wellington, New

☆ A real estate developer who owns hundreds of units says the key to financial freedom is getting over the hurdle of buying your first rental property — and shares 2 strategies for getting started
▼ + stars: | 2023-10-11 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

His senior year of college, he enrolled in a real estate finance class and started learning about various property-investment strategies. He was particularly interested in multi-family real estate and focused his capstone project around it. By 2015, his real estate investing business reached a point of profitability where he felt comfortable quitting his finance job. Getting into real estate in today's market is "very hard," he said matter-of-factly. To achieve financial freedom, Beliveau stresses getting your first "rental asset" — not just your first rental unit.

Persons: Ricky Beliveau didn't, Beliveau, I'd, Ricky Beliveau, it's, didn't, It's Organizations: Volnay Capital, Wellington Management, Northeastern University Locations: Connecticut, Boston, today's

☆ New Zealand's Economy Poses Challenge for Election Victor
▼ + stars: | 2023-10-10 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +4 min

That will stiffen the challenge for the nation's two major parties, the centre-left Labour Party and the centre-right National Party, to deliver its agenda where rising prices and government debt have been hot-button election issues. “The Reserve Bank will need the government to do its bit if it is to cap the cash rate at the 5.5% it currently suggests,” analysts at Bank of New Zealand said in a note. DEBT, AND MORE DEBTThe biggest challenge for many New Zealanders is mortgage rates. At the same time government borrowing costs are increasing and the country’s ballooning current account deficit poses a risk to the country’s credit rating. Kelly Eckhold, chief economist at Westpac New Zealand said tough fiscal choices face an incoming government.

Persons: Lucy Craymer WELLINGTON, won’t, Kelly Eckhold, ”, Lucy Craymer, Shri Navaratnam Organizations: Reuters, Labour Party, National Party, Bank, Bank of New, National, Statistics New Zealand, Reserve Bank of New, Labour, NZ, Westpac New Zealand, Zealand Locations: Bank of New Zealand, New Zealand, Zealanders, Reserve Bank of New Zealand

☆ New Zealand Labour party support rises, NZ First remains kingmaker, polls show
▼ + stars: | 2023-10-10 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

Christopher Luxon, leader of the New Zealand National Party, holds a media conference after casting his vote in the general election in Auckland, New Zealand, October 2, 2023. In the Oct. 14 vote, the centre-right National Party, led by Christopher Luxon, is expected to emerge as the largest party with 34% of the vote, while Chris Hipkins' Labour Party is sitting on 30% of the vote, the Guardian Essential poll showed. A Newshub-Reid Research poll also released on Wednesday similarly found the populist party set to play kingmaker come election day. The poll also recorded a slight jump in support for Labour and a dip for the Nationals, who polled at 27.5% and 34.5%, respectively. Earlier polls gave the centre-right bloc of National and the ACT Party a larger proportion of the vote, although most recent polls put NZ First in position of kingmaker.

Persons: Christopher Luxon, David Rowland, Chris Hipkins, Te Pati, Reid, kingmaker, Luxon, Chris Bishop, Lucy Craymer, Sharon Singleton, Stephen Coates, Gerry Doyle Organizations: New Zealand National Party, REUTERS, Rights, New Zealand First Party, Labour Party, National Party, Guardian, National, ACT, Labour, Greens, Te, New Zealand, Reid Research, Nationals, New, ACT Party, NZ, Thomson Locations: Auckland , New Zealand, New Zealand

☆ Stocks climb in calm before potential US payrolls storm
▼ + stars: | 2023-10-06 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Tokyo's Nikkei (.N225) was flat and currency markets were similarly steady with the dollar just off recent highs as traders looked to the labour data for guidance. Ten-year Treasury yields held at 4.72%. "This may be just a brief pause while we wait for labour market data and next week's U.S. Treasury supply and CPI data," said SocGen strategist Kit Juckes. "If the labour market data are strong, pressure will return sooner than it did last year. I still think the Treasury market will take yields higher until something breaks in the system."

Persons: Jason Wong, Kit Juckes, Tom Westbrook, Shri Navaratnam Organizations: Brent, Tokyo's Nikkei, Treasury, Reuters, London, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Wellington, U.S

Russian President Vladimir Putin attends a meeting with Chief of the Russian Armed Forces' General Staff Valery Gerasimov, via a video conference call at the Novo-Ogaryovo state residence, outside Moscow, Russia October 7, 2020. Sputnik/Alexei Druzhinin/Kremlin via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD... Acquire Licensing Rights Read moreLONDON, Oct 5 (Reuters) - President Vladimir Putin said on Thursday that Russia has successfully tested its new Burevestnik missile. - Its nuclear propulsion gives the missile much longer range than traditional turbojet or turbofan engines that are limited by how much fuel they can carry. - Development of the missile's nuclear propulsion unit has been a huge technical challenge, involving a number of test failures. - The Nuclear Threat Initiative said the Burevestnik's nuclear propulsion could enable it to stay aloft for days, if needed.

Persons: Vladimir Putin, Staff Valery Gerasimov, Alexei Druzhinin, Putin, Mark Trevelyan, Guy Faulconbridge Organizations: Russian Armed Forces, Staff, Sputnik, International Institute for Strategic Studies, United States Air Force's National Air and Space Intelligence Center, Nuclear Threat Initiative, New York Times, Thomson Locations: Moscow, Russia, Kremlin, United States, Washington

☆ New Zealand's Ravindra lives up to his name in dream WC debut
▼ + stars: | 2023-10-05 | by ( Amlan Chakraborty | ) www.reuters.com time to read: +3 min

New Zealand all-rounder Rachin Ravindra achieved that difficult feat with his dream World Cup debut against England on Thursday. The 23-year-old made an unbeaten 123 off 96 balls against the defending champions to help secure New Zealand's nine-wicket rout at the Narendra Modi Stadium. Ravindra was thrust into the limelight when stand-in skipper Tom Latham introduced him to bowl the 17th over of England's innings. That would have been improbable had Kane Williamson, New Zealand's regular captain, recovered from a knee injury. "He is unfit so luckily enough, I got an opportunity," Ravindra said of his experience of batting at number three.

Persons: Narendra Modi, Rachin Ravindra, Devon Conway, Andrew Boyers, Ravindra, Rahul Dravid, Sachin Tendulkar, Tom Latham, Harry Brook, Brook, Kane Williamson, Tendulkar, Dravid, Amlan Chakraborty, Ed Osmond Organizations: Cricket, ICC Cricket, New Zealand, Narendra, Devon Conway REUTERS, Rights, England, New, Zealand, Wellington, Thomson Locations: England, New, Ahmedabad, India, Rights AHMEDABAD, Zealand, New Zealand, Conway

☆ New Zealand PM returns to campaign trail after recovering from COVID
▼ + stars: | 2023-10-05 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

Prime Minister and Labour Party Leader Chris Hipkins speaks at the New Zealand Labour Party's election campaign launch event in Auckland, New Zealand, September 2, 2023. REUTERS/David Rowland/File Photo Acquire Licensing RightsWELLINGTON, Oct 6 (Reuters) - New Zealand Prime Minister Chris Hipkins on Friday said he was back on the election campaign trail, after he tested negative for COVID-19 earlier in the day. New Zealand is just a week out from the Oct. 14 general election, which the ruling Labour party is unlikely to win. Labour faced a new challenge on Sunday when Hipkins tested positive for COVID and had to work remotely while isolating. "But I'm very much looking forward to getting back on the campaign trail."

Persons: Chris Hipkins, David Rowland, Hipkins, TVNZ's 1News, I'm, Lucy Craymer, Tom Hogue Organizations: Labour Party, New Zealand Labour, REUTERS, Rights, Zealand, Labour, Thomson Locations: Auckland , New Zealand, New Zealand

☆ Ken Griffin’s hedge fund Citadel bucks the downtrend in September, up nearly 13% this year
▼ + stars: | 2023-10-05 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Billionaire investor Ken Griffin's flagship hedge fund rallied last month when the broader market was rattled by tight monetary policy as well as rising recession fears, according to a person familiar with the returns. Citadel's multistrategy flagship Wellington fund gained 1.7% in September, bringing its 2023 performance to 12.6%, the person said. The S&P 500 pulled back 4.9% last month, suffering its worst month of the year. Griffin, founder and CEO of Citadel, told CNBC last month he was skeptical that this year's rally, powered mostly by artificial intelligence-related stocks, can be sustainable. The Wellington fund soared 38% in 2022 for its best year ever.

Persons: Ken Griffin's, Citadel's multistrategy, Stocks, Pershing, Bill Ackman, Griffin Organizations: Treasury, Citadel, CNBC, Big Tech Locations: Wellington

☆ NZ central bank holds rates, signals higher hurdle to further hikes; kiwi tumbles
▼ + stars: | 2023-10-04 | by ( Lucy Craymer | ) www.reuters.com time to read: +3 min

View of an entrance to the Reserve Bank of New Zealand in Wellington, New Zealand November 10, 2022. “Interest rates are constraining economic activity and reducing inflationary pressure as required,” the central bank said in a statement. The past RBNZ rate hikes have sharply slowed New Zealand’s economy but recent data showed it was tracking above central bank expectations at 0.9% quarterly growth. The central bank releases a comprehensive update of economic indicators and the forecast official cash rate track when it publishes its quarterly Monetary Policy Statement (MPS), which is due on Nov. 29. “The Bank appears content to wait for restrictive policy settings to fully feed through to the real economy,” analysts at Capital Economics in a note.

Persons: Lucy Craymer, ”, Kelly Eckhold, “ Organizations: WELLINGTON, Reuters, Reserve Bank of New, REUTERS, Bank of New Zealand, New Zealand, Westpac NZ, U.S . Federal Reserve, Capital Economics Locations: Reserve Bank of New Zealand, Wellington , New Zealand, Global, New Zealand

☆ New Zealand starts new tourism campaign as post-COVID visits lag
▼ + stars: | 2023-10-03 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

Tourism New Zealand/Handout via... Acquire Licensing Rights Read moreWELLINGTON, Oct 3 (Reuters) - New Zealand is launching a new tourism campaign with Kiwi director and actor Taika Waititi to attract visitors after the sector was hammered by COVID-19 and border closures. Visitors from United States are a major target audience, said Rene de Monchy, chief executive for Tourism New Zealand. The film, shot in December 2022, will also play on social media platforms in Australia, Germany, the UK and parts of Asia. Prior to COVID and the closure of New Zealand's borders, international tourism was New Zealand's largest source of foreign exchange and accounted for about 5.5% of gross domestic product. ($1 = 1.6810 New Zealand dollars)Reporting by Lucy Craymer; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Persons: Waititi, Jade Daniels, Taika Waititi, Rene de Monchy, we've, Lucy Craymer, Richard Chang Organizations: HBO, Tourism, Kiwi, Visitors, Tourism New, Zealand, Thomson Locations: Zealand, New Zealand, Tourism New Zealand, WELLINGTON, United States, Australia, Germany, Asia, Zealand's, Kaikoura, Auckland

Job openings unexpectedly rose in August by 690,000 in a surprise that was led by a jump in demand for workers in business services, the Labor Department reported on Tuesday. Job openings rise to 9.6 mil from 8.8 mil last month. That means analysts will wait for other data on the job market out this week to see whether the job openings report is an anomaly. The job openings data lag the other labor market reports this week by a month. On Friday, the government will release its monthly jobs report for September with analysts looking for a continued moderation in the pace of growth in employment.

Persons: “, ” Kathy Jones, Charles Schwab, ”, Geno Cutolo, Mark Hamrick, ” Hamrick, Brij Khurana, Khurana Organizations: Labor Department, Charles, Charles Schwab Center, Financial Research, Federal, Wellington Management Locations: North America

☆ New Zealanders start voting in Oct. 14 general election
▼ + stars: | 2023-10-01 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

REUTERS/Praveen Menon Acquire Licensing RightsWELLINGTON, Oct 2 (Reuters) - New Zealanders on Monday started voting for a new government as advance in-person balloting opened ahead of the Oct. 14 general election. Chief Electoral Officer Karl Le Quesne said in a statement that 400 polling places were open on Monday. Voting before election day has increased in popularity, and in 2020, 68% of votes were cast in advance, Le Quesne said. Overseas electronic and in-person voting at embassies opened last week for enrolled voters. New Zealand does not use mail voting but in special circumstances some people can vote electronically.

Persons: Praveen Menon, Karl Le Quesne, ”, Le Quesne, Chris Hipkins, Lucy Craymer, Cynthia Osterman Organizations: New, REUTERS, Rights, Zealanders, Overseas, National Party, Labour Party, Thomson Locations: New Zealand, Wellington , New Zealand, Zealand

☆ New Zealand farmers set for right-wing protest vote over climate change policies
▼ + stars: | 2023-09-27 | by ( Lucy Craymer | ) www.reuters.com time to read: +4 min

Warning that livelihoods are at stake, farmers are looking to conservative candidates who will unwind or delay these Labour policies. The two will travel the length of New Zealand over 10 days to encourage rural communities to vote for a change. Farmers in New Zealand have staged several protests in the past two years against growing regulations and agricultural emission schemes. New Zealand will also become the first country in the world to tax farmer for methane from animals from 2025. Wayne Langford, president of farmer lobby group Federated Farmers, said recent policies had been impractical, difficult to implement and caused significant frustrations.

Persons: Praveen Menon, Bryce McKenzie, Laurie Paterson, John Deere, ”, McKenzie, Chris Hipkins, James Shaw, Wayne Langford, it's, Langford, Lucy Craymer, Michael Perry Organizations: REUTERS, Rights, New Zealand Labour Party, Farmers, ACT, Taxpayers, Union, Curia, National, Labour, Green Party, Federated Farmers, New Zealand, Thomson Locations: Hawke's Bay , New Zealand, Southland, New Zealand, Rural, Zealanders, Netherlands, Zealand

Navalny, 47, now faces a transfer to a "special regime" prison colony, the harshest grade in Russia's penal system, with the prospect of staying there until he is in his mid-70s. Daniel Kholodny, a TV technician who worked for Navalny, was sentenced to eight years in jail in August as part of the same trial. "For all of us - their colleagues and friends - this is constant pain," Navalny aide Leonid Volkov posted on X, formerly Twitter. The Kremlin has tried to portray Navalny as politically irrelevant, and Putin makes a point of never speaking his name. Moscow has cast him as an extremist and, without providing evidence, as a puppet of the U.S. Central Intelligence Agency.

Persons: Alexei Navalny, Viktor Rogov, Vladimir Putin, Daniel Kholodny, Alexei, Kholodny, Navalny, Leonid Volkov, Putin, Russia's, Nelson Mandela, Vladimir Kara, Murza, PUTIN, scoundrels, Mark Trevelyan, Alexandra Hudson Organizations: IK, Navalny, U.S . Central Intelligence Agency, Kremlin, U.S . State Department, European Union, Alexandra Hudson Our, Thomson Locations: Vladimir, Navalny, Moscow, Ukraine, Siberia, Melekhovo, Russia, Germany

☆ Lone survivor of suspected mushroom poisoning released from Australian hospital
▼ + stars: | 2023-09-25 | by ( Tara Subramaniam | ) edition.cnn.com time to read: +3 min

CNN —The sole survivor of a poisoning involving suspected death cap mushrooms that killed three others in Australia has been released from hospital following a remarkable recovery that could now help police piece together what happened. Within days, Gail Patterson, 70, and her sister Heather Wilkinson, 66, died in hospital, followed by Gail’s 70-year-old husband, Don, a day later. Watkins clung on, critically ill and reportedly in need of a liver transplant but made enough of a recovery to leave Melbourne’s Austin hospital last Friday. In the same statement she claimed she bought the mushrooms used in the meal from two separate stores. As Ian continues his journey towards full recovery, the Wilkinson family kindly requests that their privacy be respected,” the statement said.

Persons: Ian Watkins, Erin Patterson, Gail Patterson, Heather Wilkinson, Gail’s, Don, Watkins, “, Ian Wilkinson, Ian, Wilkinson, ” Patterson, Dean Thomas, Patterson, Patterson’s, Thomas, Simon, ” Thomas, Wilkinson –, –, ” Organizations: CNN, Victoria Police, ABC, Korumburra Baptist Locations: Australia, Leongatha, Melbourne’s Austin

☆ What soft landing? Stocks are acting like there's a rough road ahead
▼ + stars: | 2023-09-25 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

For the most part, the market has paid little attention, but this time the message seems to have hit home. Banks stocks have been weak, and even former leaders in industrials like Parker Hannifin have been down. Fewer than 50% of NYSE stocks are above their 200-day moving average. Energy stocks are up, but even they have been selling off in the last week, despite the rise of oil. "Rising interest rates have made commodities-related areas, from industrial metals to energy, interesting for the time being," Timmer noted.

Persons: Jerome Powell, Powell, Russell, Parker, Frank Gretz, Timmer, Lowry Organizations: UAW, Retail, Airlines, JETS, Transports, Banks, Nvidia, Marvell, AMD, Wellington, Commodities, Energy Locations: Banks, industrials, Taiwan, Wellington Shields, mused

Sept 25 (Reuters) - The leader of Russia's Chechnya region, Ramzan Kadyrov, said on Monday he was proud of his teenage son Adam for beating up a prisoner accused of burning the Koran. The Chechen leader, who styles himself as a ruthless ally of President Vladimir Putin, said he was releasing the video to settle any doubts about whether the incident, first reported last month, had really taken place. The prisoner, Nikita Zhuravel, had complained about the attack to Russia's human rights ombudswoman, who said last month she had referred the issue to her counterpart in Chechnya. The eldest, Akhmat, was pictured with Putin in the Kremlin in March, fuelling rumours he was being groomed as Kadyrov's successor. Kadyrov's health has been the subject of intense speculation, with rumours swirling this month that he was dead or in a coma.

Persons: Ramzan Kadyrov, Adam, Kadyrov, Vladimir Putin, Nikita Zhuravel, Akhmat, Putin, Mark Trevelyan, David Gregorio Our Organizations: Russia, Thomson Locations: Chechnya, Soviet Union, Ukraine, Kremlin, Moscow

☆ New Zealand National Party prepared to join forces with NZ First to get into power
▼ + stars: | 2023-09-24 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

Christopher Luxon, Leader of the National Party, speaks at the New Zealand National Party’s election campaign launch in Auckland, New Zealand, September 3, 2023. REUTERS/David Rowland/File Photo Acquire Licensing RightsWELLINGTON, Sept 25 (Reuters) - New Zealand's National Party leader said on Monday he is prepared to work with the populist New Zealand First if there are numbers needed to form a majority after the election. The centre-right National Party is currently leading the polls but is unlikely to be able to govern without the support of at least one smaller party. However, he added he would be prepared to form a coalition with New Zealand First if that would get his party into power. Leader of New Zealand First Winston Peters is a one-time National Party member and his party has previously been a coalition partner in both Labour and National-led governments.

Persons: Christopher Luxon, David Rowland, Winston Peters, Lucy Craymer, Chizu Organizations: National Party, New Zealand National, REUTERS, Rights, New Zealand, Party, ACT, National, New, Labour, Thomson Locations: Auckland , New Zealand, Zealand

The forecasts seem at odds as higher rates raise the credit costs that can crimp the economy. MSCI's U.S.-centric gauge of global equity performance and stocks on Wall Street bounced back while Treasury yields, which move inversely to price, retreated. Yields on two- and 10-year notes remained inverted at -68.3 basis points as the shorter-dated note yields more than the longer one. MSCI's all-world country index for stocks (.MIWD00000PUS) gained 0.14%, but the pan-European STOXX 600 index (.STOXX) closed down 0.31%. Oil prices rose as renewed global supply concerns from Russia's fuel export ban countered demand fears driven by macroeconomic headwinds and higher interest rates.

Persons: Brendan McDermid, Marvin Loh, Joe LaVorgna, SMBC, Brent, Craig Ebert, Huw Jones, Tom Westbrook, Marguerita Choy, Rashmi Aich, Aurora Ellis Organizations: New York Stock Exchange, REUTERS, Bank, Japan, Treasury, Federal, Fed, U.S, SMBC Nikko Securities America, Dow Jones, Nasdaq, Bank of, Japan's Nikkei, Investors, Bank of England, Swiss, Swiss National Bank, JPMorgan, Thomson Locations: New York City, U.S, Boston, New York, Asia, Japan, China, Sweden, Norway, BNZ, Wellington

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