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☆ Bank of Japan data suggest mysterious yen spike wasn't intervention
▼ + stars: | 2023-10-05 | by ( Kevin Buckland | ) www.reuters.com time to read: +1 min

Passersby walk past an electric monitor displaying the Japanese yen exchange rate against the U.S. dollar outside a brokerage in Tokyo, Japan October 4, 2023. REUTERS/Issei Kato Acquire Licensing RightsTOKYO, Oct 5 (Reuters) - The Bank of Japan's money market data indicated on Thursday that a mysterious spike in the yen rate against the dollar on Tuesday was likely not the product of official Japanese intervention. The central bank's projection for Friday's money market conditions indicated a 1.09 trillion yen ($7.32 billion) net receipt of funds, not far from the 800-900 billion net receipt of funds estimated by brokerages, excluding intervention. Bank transactions for currency intervention take effect two business days later, but the hour of the yen's rebound made it unclear whether it would show up in data for Thursday or Friday. ($1 = 149.0000 yen)Reporting by Kevin Buckland; editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Issei Kato, Norihiro Yamaguchi, It's, Kevin Buckland, Christina Fincher Organizations: U.S, REUTERS, Rights, Bank, brokerages, Oxford Economics, Thomson Locations: Tokyo, Japan, New York

Yet increasingly, euro area specific factors, particularly exposure to higher oil prices, risk further weakness in an already stagnating economy, and the single currency. The euro is especially vulnerable to rising oil prices, with net imports accounting for over 90% of oil products available in the European Union. "High oil prices are weighing on the euro area's terms of trade, and if oil prices move above $100 per barrel to $110 per barrel we think it will be difficult for the euro to avoid parity," said Nomura's G10 FX strategist Jordan Rochester. But it also lifts price pressures through higher import costs, compounding the impact from higher oil prices. "Definitely the euro zone is not in a good place right now," said Moec, adding that he did not rule out a euro move to parity.

Persons: Dado Ruvic, Jordan, Nomura, Morgan Stanley, Jens Eisenschmidt, Francesco Pesole, Athanasios, Gilles Moec, Dhara Ranasinghe, Alun John, Yoruk, Christina Fincher Organizations: U.S, REUTERS, European Union, OPEC, Barclays, European Central Bank, ECB, ING, Germany, Bank of America, AXA Investment, Thomson Locations: Jordan Rochester, United States, ITALY, Italy, U.S, London, Amsterdam

In particular, lawmakers want assurances that the European Commission is not planning to shelve green measures that it promised but has not yet delivered - including restrictions on harmful chemicals, microplastics pollution and animal welfare. The shake-up in Europe's green leadership comes as climate policies face mounting pushback from politicians warning of the large investments required. Some EU officials are wary of pushing through new green measures before EU Parliament elections in June. Recent EU proposals - including a landmark law to restore nature - have faced resistance from some lawmakers and governments arguing Brussels is tangling industries in red tape. But Sefcovic and Hoekstra also need backing from green and left-leaning lawmakers demanding urgent action to tackle the CO2 emissions fuelling extreme weather across Europe, and reverse the decline of nature.

Persons: Wopke Hoekstra, de, Maros Sefcovic, Pascal Canfin, Sefcovic, Canfin, Hoekstra, Robert Fico, Kate Abnett, Bart Meijer, Christina Fincher, Josie Kao Organizations: Ministers, REUTERS, Rights, European Commission, EU, Thomson Locations: The Hague, Netherlands, Rights BRUSSELS, Dutch, Brussels, Europe, Slovak, Ukraine, Russian Slovak

☆ At WTO, growing disregard for trade rules shows world is fragmenting
▼ + stars: | 2023-10-02 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +5 min

A logo is seen at the World Trade Organization (WTO) headquarters before a news conference in Geneva, Switzerland, October 5, 2022. Those depositing cases include China, Dominican Republic, India, Indonesia, Morocco, Pakistan, South Korea and the United States. The result is a growing disregard for global trading rules among WTO members. Countries have taken advantage of exceptions to WTO rules, such as for national security used by the United States to limit metal imports and some Gulf states to restrict trade with Qatar. Beijing has restricted exports of critical minerals, while Washington has sought to prevent Chinese access to U.S. technology, with national security trumping global trading rules.

Persons: Denis Balibouse, ”, Alan Wolff, Donald Trump, Keith Rockwell, Biden, Ngozi Okonjo, Philip Blenkinsop, Emma Farge, Christina Fincher Organizations: World Trade Organization, REUTERS, WTO, Reuters, Reuters Graphics, European Union, Foundation, Washington, Thomson Locations: Geneva, Switzerland, China, Dominican Republic, India, Indonesia, Morocco, Pakistan, South Korea, United States, Ukraine, North America, Washington, Qatar, Beijing, U.S, Lake Geneva, Indian

[1/2] The Microsoft logo is seen at the Microsoft store in New York City, July 28, 2015. REBUFFED BY APPLENadella also testified that Microsoft had sought to make its Bing search engine the default on Apple (AAPL.O) smartphones but was rebuffed. On laptops, most of which use Microsoft operating systems, Bing is the default search engine and has a market share below 20%, Nadella acknowledged. Nadella became CEO of Microsoft in 2014, long after the tech giant faced its own federal antitrust lawsuit. As Google, which was founded in 1998, became an industry leading search engine, the two became bitter rivals.

Persons: Mike Segar, Satya Nadella, Nadella, U.S . Justice Department's, APPLE Nadella, John Schmidtlein, Google's, Schmidtlein, Bing, Amit Mehta, Diane Bartz, Christina Fincher, Deepa Babington Organizations: Microsoft, REUTERS, Google, U.S . Justice, Apple, APPLE, Bing, Verizon, BlackBerry, Nokia, District of Columbia, Thomson Locations: New York City, WASHINGTON, U.S, Bing, OpenAI

Nadella was dismissing an argument that Google has made - that it is easy to change defaults on devices. He said that Microsoft, itself a tech powerhouse, had sought to make its Bing search engine the default on Apple (AAPL.O) smartphones but was rebuffed. The clout in search makes Google a heavy hitter in the lucrative advertising market, boosting its profits. "You get up in the morning and you brush your teeth and you search on Google," he added in a reference to Google's dominance in search. As Google, which was founded in 1998, became an industry leading search engine, the two became bitter rivals.

Persons: Mike Segar, Satya Nadella, U.S . Justice Department's, Nadella, Amit Mehta, Bing, Diane Bartz, Christina Fincher, Deepa Babington Organizations: Microsoft, REUTERS, U.S ., Google, Apple, District of Columbia, Thomson Locations: New York City, WASHINGTON, U.S, OpenAI

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. Markets have seen some seismic shifts in recent weeks after being forced to adjust to the 'higher for longer' mantra propagated by major central banks. "I don't think we're back to the point where these central banks will start tightening again..but if you are a central banker, especially of an oil importing country, you do become more cautious." On the other hand, a select number of central banks in emerging markets were still in hiking mode. Turkey, which is struggling with inflation pressures and a currency that is sliding from one record low to the next, delivered another bumper 500 bps rate hike.

Persons: Heiko Becker, Bjoern, Kaan Nazli, Neuberger Berman, Karin Strohecker, Sumanta Sen, Christina Fincher Organizations: European Central Bank, REUTERS, U.S . Federal Reserve, Bank of England, ECB, DWS, Reuters, Thomson Locations: Frankfurt, Germany, Central, America, Europe, Sweden, Norway, Australia, Canada, Japan, Brazil, Chile, Poland, Hungary, Turkey, Russia, Thailand, London, Mumbai

☆ A second UK police force opens investigation into Russell Brand claims
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 2 (Reuters) - A second British police force said on Monday it had launched an investigation following allegations of harassment and stalking made against actor and comedian Russell Brand. Brand has rejected the "very serious criminal allegations", saying on his social media channels that he had never had non-consensual sex. "Thames Valley Police in the past two weeks received new information in relation to harassment and stalking allegations dating back to 2018," the force said in a statement. "This information is being investigated; as such it would be inappropriate to comment on an ongoing investigation." There was no immediate response to a request for comment from representatives for Brand.

Persons: Russell Brand, Brand, Michael Holden, Christina Fincher Organizations: British, Sunday Times, Daily Mail, BBC, Thames Valley Police, Valley Police, Brand, Thomson Locations: London

Kellogg's cold cereal products are pictured in a market after Kellogg Company announced it would split. REUTERS/Mike Segar/File Photo Acquire Licensing RightsNEW YORK, Oct 2 (Reuters) - Shares of Kellanova (K.N) fell more than 7% on Monday after the packaged food giant, previously known as Kellogg Company, completed the spinoff of its North American cereal business into a new standalone entity called WK Kellogg Company (KLG.N). Under the separation agreement, Kellanova shareholders received one share of WK Kellogg common stock for every four shares of Kellanova stock held as of September 21, a statement said. Kellanova shares fell to as low as $51.83, down 7.2%, after opening at $55.70, while WK Kellogg Company dropped by more than 11% and was last at $13.79. Kellanova will retain its place on the benchmark S&P 500 (.SPX) index, while WK Kellogg shares will join the S&P SmallCap 600 index (.SPCY) on Tuesday, before market open.

Persons: Mike Segar, WK Kellogg, Kellanova, Michael Ashley Schulman, Rice, Piper Sandler, Research's Arun Sundaram, Chibuike Oguh, Lance Tupper, Christina Fincher Organizations: Kellogg Company, REUTERS, WK Kellogg Company, WK Kellogg, New York Stock Exchange, Running, Capital Advisors, MorningStar, Jefferies, Thomson Locations: New York, U.S, Kellanova, California, American, Bengaluru

Reuters Graphics"There is a reckoning that interest rates are going to be higher for much longer, which has been the bearish element in the precious market. Gold prices could go below $1,800 in the near-term," said Jim Wyckoff, senior analyst at Kitco Metals. The appreciation of the U.S. dollar may not end anytime soon, pressuring the gold market." Traders are pricing in a 55% chance that the Federal Reserve will leave interest rates at the current range of 5.25%-5.50% this year, according to CME's FedWatch tool. Since powering above the key $2,000-per-ounce level in early May, gold prices have fallen more than 11%, or $230, pressured by a sharp rise in benchmark U.S. Treasury yields, which makes the non-yielding gold less attractive.

Persons: Silver, Fed's Bowman, Jim Wyckoff, Michelle Bowman, Tai Wong, Jerome Powell's, Ashitha, Nick Macfie, Christina Fincher Organizations: Reuters, Kitco Metals, U.S, U.S ., Federal Reserve, Treasury, Thomson Locations: New York, Bengaluru

☆ Deal targeted by probe involving LVMH's Arnault was legal, lawyer says
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +1 min

PARIS, Sept 30 (Reuters) - A financial transaction under investigation in France involving LVMH owner Bernard Arnault was carried out in full respect of the law, his lawyer said on Saturday. The Paris public prosecutor's office confirmed on Friday that it is investigating financial transactions involving Arnault and Russian businessman Nikolai Sarkisov. In France, a prelimary investigation does not necessarily imply wrongdoing by those concerned, for whom the presumption of innocence applies. An unidentified Tracfin official told Le Monde the transactions involving Arnault and Sarkisov, who both acted through a complex web of legal entities, could have been aimed at concealing the origins of the funds used. Reporting by Mimosa Spencer; writing by Leigh Thomas; editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Bernard Arnault, Nikolai Sarkisov, Sarkisov, Cheval, Jacqueline Laffont, Le, Mimosa Spencer, Leigh Thomas, Christina Fincher Organizations: Reuters, Le Monde, Thomson Locations: France, Paris, Russian, Le, Cheval Blanc, Courcheval

☆ More than 100,000 refugees arrive in Armenia as exodus swells
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +2 min

[1/2] Refugees from Nagorno-Karabakh region sit in a bus upon their arrival in the border village of Kornidzor, Armenia, September 29, 2023. "Many are hungry, exhausted and need immediate assistance," Filippo Grandi, head of the U.N. refugee agency UNHCR, said on social media late on Friday. Italy said Armenia had asked the European Union for temporary shelters and medical supplies to help it deal with the refugees. "This exodus is already unbearable physically because we have already spent 16 hours on this road... Reporting by Emma Farge, Angelo Amante and Nailia Bagirova; Writing by Giles Elgood; Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Irakli, Filippo Grandi, Siranush Sargsyan, Sargsyan, Emma Farge, Angelo Amante, Giles Elgood, Christina Fincher Organizations: REUTERS, Rights, UNHCR, European Union, Armenia, Thomson Locations: Nagorno, Karabakh, Kornidzor, Armenia, Italy, Azerbaijan, Republic of Artsakh, Soviet Union, Artsakh, Kalbajar

☆ Lula admitted to Brasilia hospital for hip surgery
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +2 min

Brazil's President Luiz Inacio Lula da Silva gestures during an inauguration ceremony of the new President of Supreme Court, Roberto Barroso, in Brasilia, Brazil September 28, 2023. REUTERS/Ueslei Marcelino/ File Photo Acquire Licensing RightsBRASILIA, Sept 29 (Reuters) - Brazilian President Luiz Inacio Lula da Silva was admitted to hospital on Friday to undergo surgery for hip arthrosis caused by wear and tear of the cartilage on the head of the femur that has caused him much pain in recent months. The two-hour surgery with general anesthetic is aimed at restoring the function of his right hip by arthroplasty, which involves removing the head of the femur to implant a prosthesis. While the surgery is not risky, 77-year-old Lula will remain in hospital until Tuesday and then spend three weeks at the presidential residence recovering. Lula said he put off the surgery because he wanted to take office first and lead the country back to normality after political turmoil under his predecessor, and recover Brazil's international standing.

Persons: Luiz Inacio Lula da Silva, Roberto Barroso, Ueslei Marcelino, Lula, Geraldo Alckmin, Anthony Boadle, Steven Grattan, Christina Fincher Organizations: Supreme, REUTERS, Rights, arthroplasty, United, Thomson Locations: Brasilia, Brazil, Rights BRASILIA, United Arab Emirates

☆ India foreign minister says he spoke to Blinken, Sullivan about Sikh separatist murder
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

U.S. Secretary of State Antony Blinken and India's External Affairs Minister Subrahmanyam Jaishankar say a few words to the media as they meet at the State Department in Washington, U.S., September 28, 2023. REUTERS/Leah Millis Acquire Licensing RightsNEW DELHI, Sept 29 (Reuters) - India's foreign minister on Friday said he spoke to U.S. Secretary of State Antony Blinken and the U.S. National Security Advisor Jake Sullivan about Canadian allegations on New Delhi's possible involvement in the June killing of a Sikh separatist leader in Canada. Ties between the two countries have been strained after Canadian Prime Minister Justin Trudeau told parliament earlier this month that Canada suspected Indian government agents were linked to the murder of Hardeep Singh Nijjar. India has dismissed Canada's allegations as absurd and both countries have expelled a diplomat in a tit-for-tat move. A U.S. official confirmed that Blinken spoke to India's Foreign Minister Subrahmanyam Jaishankar on Thursday and urged India to cooperate with the Canadian investigation, but a U.S. State Department statement made no mention of the issue.

Persons: Antony Blinken, Subrahmanyam Jaishankar, Leah Millis, Jake Sullivan, Justin Trudeau, Hardeep Singh, Blinken, Jaishankar, Shivam Patel, Christina Fincher Organizations: State Department, REUTERS, U.S . National, Canadian, U.S, India's, U.S . State Department, Hudson Institute, Thomson Locations: Washington , U.S, DELHI, Canada, Hardeep Singh Nijjar, India, U.S, Washington

☆ China says it will resume visa-free policies to spur inbound travel
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

Passengers push their luggage through the international arrivals hall at Beijing Capital International Airport after China lifted the coronavirus disease (COVID-19) quarantine requirement for inbound travellers in Beijing, China January 8, 2023. REUTERS/Thomas Peter/File Photo Acquire Licensing RightsSINGAPORE, Sept 29 (Reuters) - China will resume visa-free policies and consider adding more countries to its visa-exemption list to help boost the country's post-pandemic tourism business, according to a policy document released on Friday. In a statement posted on the central government's website, it said visa-free policies and visa assurances on arrival would be promoted as well as smoother immigration clearances for cruises and self-driving tourists. The government also called for enhanced tax-rebate services such the creation of more tax-rebate shops. Reporting by Chen Aizhu; editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas Peter, Chen Aizhu, Christina Fincher Organizations: Beijing Capital International, REUTERS, Rights, Thomson Locations: China, Beijing, Rights SINGAPORE, China's

Sept 29 (Reuters) - Su Zhu, one of the founders of bankrupt crypto hedge fund Three Arrows Capital, has been "apprehended" at Changi Airport in Singapore, the company's liquidators Teneo said in an email on Friday. Zhu will spend four months in prison under an arrest order granted by Singapore courts in September 2023 after he did not comply with an order to cooperate with investigations into Three Arrows Capital, which filed for bankruptcy last year, Teneo said. A similar order has also been granted for fellow co-founder, Kyle Davies, but his "whereabouts remain unknown at this point in time," Teneo said. Three Arrows Capital was one of the first high-profile cryptocurrency firms to collapse in 2022, filing for bankruptcy in July of last year after it was hit by a sharp sell-off in crypto markets. Reporting by Elizabeth Howcroft in London; additional reporting by Hannah Lang in Washington; editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Su Zhu, Teneo, Zhu, Kyle Davies, Elizabeth Howcroft, Hannah Lang, Christina Fincher Organizations: Arrows, Changi Airport, Singapore, Three Arrows, Thomson Locations: Singapore, London, Washington

The Cyberspace Administration of China (CAC) said it was considering waiving data export security assessments for activities such as international trade, academic cooperation, cross-border manufacturing and marketing that do not contain personal information or important data. Alex Roberts, a Shanghai-based lawyer at Linklaters, said the new rules are "a great signal for foreign investment and trade into China". You Yunting, a lawyer with Shanghai-based DeBund Law Offices, said the new rules "represents a certain degree of relaxation in data export regulation" in China. He added that the new rules could keep the cross-border transfer of human resources data low for companies. The previous rules were causing consternation among international businesses in China as some fear they could be cut off from assessing their human resources data from within China.

Persons: Alex Roberts, Brenda Goh, Josh Ye, Christina Fincher, Alison Williams Organizations: Cyberspace Administration of China, European, Reuters, Thomson Locations: SHANGHAI, HONG KONG, China, Shanghai, Linklaters, Hong Kong

If the complaint is upheld, it could result in orders from national courts for governments to cut carbon dioxide emissions blamed for climate change faster than currently planned. 'UNPRECEDENTED IN SCALE'The applicants argue climate change threatens their rights including to life, physical and mental wellbeing. Current policies would fail to meet either goal, according to the United Nations' Intergovernmental Panel on Climate Change. Last month, a judge in Montana, in the United States, handed a historic win to young plaintiffs in a climate change case. In addition to Wednesday's youth case, there are two other climate cases pending before the ECHR's Grand Chamber.

Persons: Andre, Sofia Oliveira, Pedro Nunes, heatwaves, Gerry Liston, Andre Oliveira, Martim Agostinho, Agostinho, Liston, Catarina Demony, Aislinn Laing, Alex Richardson, Christina Fincher Organizations: European, of Human Rights, United Nations, Thomson Locations: Almada , Portugal, Portugal, Britain, Switzerland, Norway, Russia, Turkey, Strasbourg, Paris, Portuguese, Leiria, Europe, Montana, United States, Lisbon

Moves in bond yields, implied inflation breakeven rates, and inflation-adjusted 'real' yields suggest investors anticipate the Fed's 'higher for longer' interest rate policy will help lower inflation to around 2.5%. But this is not a re-pricing of the Fed's near-term trajectory, rather a repricing of the longer term economic and inflation outlook. This suggests the Fed is entering a phase of structurally higher rates than perhaps policymakers themselves, and certainly investors, had anticipated. Many analysts are skeptical that moves in bond yields can be broken down, quantified and compartmentalized with any great degree of accuracy. TIPS are a key market-based barometer of investors' inflation expectations, but they have their flaws.

Persons: Austan Goolsbee, Goldman Sachs, Marvin Barth, Barth, Torsten Slok, Jamie McGeever, Christina Fincher Organizations: Chicago Fed, CNBC, Securities, Apollo Global Management, Reuters, Thomson Locations: ORLANDO, Florida

☆ Knife-edge Slovak election to determine stance on Ukraine
▼ + stars: | 2023-09-27 | by ( Jan Lopatka | ) www.reuters.com time to read: +5 min

Robert Fico, leader of the SMER-SSD party, Michal Simecka, leader of Progressive Slovakia party, and Peter Pellegrini, leader of HLAS party await for the televised debate to begin at TV TA3, prior to the Slovak early parliamentary election, in Bratislava, Slovakia, September 26, 2023. Fico's SMER-SSD party has a narrow lead over liberal Progressive Slovakia (PS), which has pledged to stay the course on foreign policy, in two out of four final opinion polls. Such an alliance may be reinforced if Poland's conservative PiS wins another term in October, although PiS has a hawkish view on Russia. The leading Slovak party is expected to get the first chance from liberal President Zuzana Caputova to form a cabinet. "He will stop the weapons (for Ukraine), that is what he gains support on."

Persons: Robert Fico, Michal Simecka, Peter Pellegrini, HLAS, Radovan Stoklasa, Fico's, Viktor Orban, PiS, Zuzana Caputova, Fico, Grigorij Meseznikov, Orban, embolden, Jan Lopatka, Christina Fincher Organizations: Progressive, REUTERS, EU, Reuters, NATO, Oxford, Thomson Locations: Progressive Slovakia, Bratislava, Slovakia, Ukraine, Russia, UKRAINE, Brussels, Hungary, Europe, Czech Republic, Poland, EU, Prague

☆ Dutch insurers' shares hit by unfavourable court ruling
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

AMSTERDAM, Sept 27 (Reuters) - Shares of Dutch insurers took a hit on Wednesday as a court ruling in a years-long fight over investment-linked products re-opened the prospect of large compensation claims. NN Group (NN.AS) traded down 13.5% at 0750 GMT in Amsterdam, while fellow Dutch insurer ASR (ASRNL.AS) fell 8.6%, as NN warned of the possibly "material adverse effect" of the interim court ruling. NN Group and other Dutch insurers have been dealing with issues related to these insurance policies, popularly known as "woekerpolissen" for years. "This also has impact for the legal cases against other Dutch insurers, who all sold similar unit-linked products at the time," KBC analysts wrote in a note. Between 2008 and 2010, Dutch insurers collectively paid clients about 3 billion euros ($3.2 billion) in compensation over similar policies, but several consumer groups have since filed suits arguing the compensation was too low.

Persons: Bart Meijer, Louise Heavens, Christina Fincher Organizations: KBC, Aegon NL, Dutch, Thomson Locations: AMSTERDAM, Hague, Amsterdam

JPMorgan Chase Bank is seen in New York City, U.S., March 21, 2023. REUTERS/Caitlin Ochs/File Photo Acquire Licensing RightsLONDON, Sept 26 (Reuters) - JPMorgan's (JPM.N) British retail bank Chase will ban crypto transactions made by customers from Oct. 16 due to an increase in fraud and scams, the company said on Tuesday. "We've seen an increase in the number of crypto scams targeting UK consumers, so we have taken the decision to prevent the purchase of crypto assets on a Chase debit card or by transferring money to a crypto site from a Chase account," a spokesperson for the bank said. JPMorgan has attracted more than 1.6 million customers to its Chase retail bank since launching the mobile app-based service in Britain two years ago, and plans to roll out the consumer bank in other international markets over time. Spain's Santander said last year it would block UK customers from sending real-time payments to crypto exchanges as part of measures to protect customers from scams.

Persons: Caitlin Ochs, Chase, Spain's Santander, Iain Withers, Tom Wilson, Susan Fenton, Christina Fincher Organizations: JPMorgan Chase Bank, REUTERS, Chase, JPMorgan, NatWest, Thomson Locations: New York City, U.S, Chase, Britain

☆ Ukrainian captain sentenced to 5 years over deadly Budapest boat accident
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Mermaid, a Hungarian boat which sank in the Danube river near Margaret bridge, is moved away during a salvage operation in Budapest, Hungary, June 11, 2019. REUTERS/Tamas Kaszas/File Photo Acquire Licensing RightsBUDAPEST, Sept 25 (Reuters) - A Ukrainian captain of a cruise liner was sentenced to five years in prison in Hungary on Tuesday for his role in a 2019 accident in which his boat hit and sank a smaller boat on the River Danube, killing 25 South Korean tourists and two crew. The Mermaid's captain and its crew member also died and one Korean is still unaccounted for. The Ukrainian man, who has been in custody since 2019, told the court that he was "deeply sorry" about the tragedy. The captain was acquitted by the court on the charge of failing to provide help.

Persons: Tamas Kaszas, Yuriy, Leona Nemeth, Boldizsar Gyori, Christina Fincher Organizations: REUTERS, Rights, South, Thomson Locations: Hungarian, Margaret, Budapest, Hungary, Ukrainian

☆ Morning Bid: Bond crush stifles markets as $134 billion hits
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +6 min

The yield spike has supercharged the U.S. dollar worldwide - both a reflection and aggravator of mounting financial stress far and wide. As Deutsche Bank notes, this is historically significant territory as the average of the 10-year yield going back to 1799 is around 4.50%. The Treasury sells $48 billion in two-year notes on Tuesday, $49 billion in five-year paper on Wednesday and $37 billion in seven-year notes on Thursday. Minneapolis Fed Bank President Neel Kashkari said on Monday the Fed probably needs to raise borrowing rates further. Private sector bankers are starting to brace for the worst, with JP Morgan chief Jamie Dimon reported overnight as warning: "I am not sure if the world is prepared for 7% (Fed rates)."

Persons: Jose Luis Gonzalez, Mike Dolan, South Korea's, Sterling, haven't, Neel Kashkari, Said Kashkari, Austan Goolsbee, JP Morgan, Jamie Dimon, Christine Lagarde, China Evergrande, Michelle Bowman, Christina Fincher Organizations: REUTERS, Federal Reserve, U.S ., Bank of Japan, South, Treasury, Deutsche Bank, Minneapolis Fed, Chicago Fed, European Central Bank, ECB, Dallas Fed's, Chicago Fed's, HK, Richmond Fed, Dallas Fed, Philadelphia Fed, Costco, Cintas, Thomson, Reuters Locations: Ciudad Juarez, Mexico, U.S, Wall St, Asia, Europe, Philadelphia, Washington

Kosovo authorities say around 30 heavily armed Serbs stormed the village of Banjska on Sunday, battling police and barricading themselves into the Serbian Orthodox monastery. Police recaptured the monastery late on Sunday after three attackers and one police officer were killed. Kosovo has accused Serbia of backing the armed militants; Serbia says Kosovo is to blame for mistreating residents in the Serb-majority area. It said one of them was Milan Radojcic, a Kosovo Serb politician and one of the leaders of the Serb List party. Serb List was the dominant Serb party in Kosovo's parliament before Serbs from the north and those loyal to Belgrade boycotted Kosovo's institutions nearly a year ago.

Persons: Milos Vucevic, Bjoern Arild Gram, Ognen, Aleksandar Vucic, Albin, Kurti's, Milan Radojcic, Dejan, Dusan Maksimovic, Fatos Bytyci, Aleksandar Vasovic, Ivana Sekularac, Christina Fincher, Alison Williams Organizations: Kovoso Police, Kosovo police, Police, ", Kosovo Serbs, REUTERS, KFOR, Kosovo, Reuters, Belgrade, Kosovo's, Vucic's Serbian Progressive Party, Thomson Locations: PRISTINA, BELGRADE, Kosovo, Banjska, Serbian, Serbia, NATO, Belgrade, Pristina, Serb, Zvecan, United States, EU, Britain, France, Germany, Italy, Kosovo Serb, Kosovo's

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