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☆ The busiest port in America is no longer on the West Coast
▼ + stars: | 2022-12-09 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +6 min

Since August, imports into the two major West Coast ports – Los Angeles and Long Beach – have declined. That cargo is now flowing into Gulf Coast ports like Savannah and New Orleans, and East Coast ports in New York and New Jersey. Around 20,000 dockworkers at West Coast ports, including Los Angeles and Long Beach, have been working without a contract since July 1. The jam at the West Coast ports delayed Americans getting goods and sent prices higher as demand outpaced supply. But until the labor dispute is resolved on the West Coast, it will be a challenge to lure importers back.

☆ Russia's Rosneft says net income hit by assets transfer in Germany
▼ + stars: | 2022-12-07 | by ( Vladimir Soldatkin | ) www.reuters.com time to read: +2 min

The company also said it boosted oil sales to Asia amid growing rift with Europe over what Moscow calls a "special military operation" in Ukraine. Rosneft said nine-month net income was 591 billion roubles ($9.4 billion), without providing comparison. This was down 15% from a record-high 696 billion roubles reported for the same period in 2021. The transfer of assets also resulted in a 76 billion roubles reduction in cash. The company is facing more headwinds from the price caps on Russian oil imposed by the West.

☆ The EU for the first time will seek sanctions against Russia's mining sector, expanding efforts to cripple Russia's wartime economy
▼ + stars: | 2022-12-06 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

The European Union's executive arm is seeking a potential ban on new mining investments in Russia's metals sector, the Financial Times reported. The bloc had been reluctant to sanction Russia's mining industry over fears of the impact on the global supply chain. Russia produces gold, uranium, titanium, iron ore and other metals. Its mining sector accounted for a quarter of foreign investment into the country before the Ukraine war started in February, the report said, citing the Organization for Economic Co-operation and Development. The EU, along with Western allies, has targeted Russia's oil industry, Russian banks, as well as hundreds of government officials and oligarchs.

☆ In Arizona, election deniers refuse to back down
▼ + stars: | 2022-11-28 | by ( Ned Parker | ) www.reuters.com time to read: +5 min

FILE PHOTO: Supporters of Republican candidate for Arizona Governor Kari Lake and Republican U.S. Senate candidate Blake Masters protest outside the Maricopa County Tabulation and Election Center as vote counting continues inside, in Phoenix, Arizona, U.S., November 12, 2022. The defeat of Lake and other election deniers was seen as a powerful rebuke of candidates who echoed Trump’s myths of a stolen election. Republican activists urged voters not to use the secure box on Election Day, according to Maricopa County officials. Maricopa County on Sunday released a report detailing voter numbers by location on Election Day and was scheduled to certify election results on Monday. DELAYS IN CERTIFICATIONElsewhere in Arizona, two conservative counties, Mohave and Cochise, do not plan to certify election results until Monday, the final day to formally do so, following pressure by election deniers.

☆ How FTX's implosion put crypto news sites like CoinDesk, The Block, and Decrypt in the spotlight as they work to fend off an ad slump and conspiracy theories about their coverage
▼ + stars: | 2022-11-24 | by ( Reed Alexander | Steven Perlberg | ) www.businessinsider.com time to read: +15 min

Crypto news sites like CoinDesk, The Block, and Decrypt have dominated coverage of the FTX implosion. Now, crypto media staffers are wondering whether more dominoes falling from FTX could further hurt the industry or cripple their ad revenues. "We cover the good, the bad and the ugly," Dan Roberts, the editor-in-chief of Decrypt, told Insider. "In general, I think these things are good for crypto media," he said. Stacy-Marie Ishmael, the managing editor for Bloomberg's crypto team, likened burgeoning crypto coverage to 1990s coverage of the Internet.

☆ The story of Sam Bankman-Fried's FTX implosion put crypto news sites like CoinDesk and The Block on the map. Inside their plan to fend off an ad slump and conspiracy theories — and keep winning.
▼ + stars: | 2022-11-21 | by ( Reed Alexander | Steven Perlberg | ) www.businessinsider.com time to read: +14 min

Now, crypto media staffers are wondering whether more dominoes falling from FTX could further hurt the industry or cripple their ad revenues. Crypto media kicks into overdriveRoberts said Decrypt's traffic doubled during the first week of the FTX saga. "In general, I think these things are good for crypto media," he said. Stacy-Marie Ishmael, the managing editor for Bloomberg's crypto team, likened burgeoning crypto coverage to 1990s coverage of the Internet. "It's now a situation where the crypto media has egg on their face.

☆ Christina Applegate had some great lines and a few tears at moving Walk of Fame ceremony
▼ + stars: | 2022-11-14 | by ( Megan Thomas | ) edition.cnn.com time to read: +2 min

CNN —Christina Applegate celebrated receiving a star on the Hollywood Walk of Fame on Monday. The actress reflected on her career in a moving speech that was filled with heart and humor. “I’ve had a really interesting life,” Applegate said. I love that I started with you two,” she said, referring to Faustino and Sagal, who stood by her side as she spoke. “I’m sure that people are going to be, like, ‘I can’t get past it.’”“Fine, don’t get past it, then,” she added.

(Reuters) - The shooting death of teenager Michael Brown by a Ferguson, Missouri, police officer prompted the U.S. Justice Department's most significant investigation of policing practices since the beginning of the Black Lives Matter movement. The DOJ also pointed out that “police departments in surrounding municipalities and the County” have practices similar to Ferguson, although that issue was “beyond the scope” of the investigation. In fact, federal officials even considered opening another investigation of the St. Louis police department for similar problems, Reuters reported in October 2020. Ferguson officials expressed concerns that the reforms required to stop exploitative policing in their city would “cripple city finances,” Reuters reported in March 2016. (A measure to institute a modest property tax increase to fund the reforms didn't get the required two-thirds majority vote.)

House Republican Leader Kevin McCarthy had hoped to celebrate a resounding victory that would propel him into the top job of speaker. But Republican hopes for a "red wave" of victories faded as Democrats showed surprising resilience in several key races. Pelosi said in a statement, "It is clear that House Democratic members and candidates are strongly outperforming expectations around the country." [1/9] Supporters cheer U.S. House Republican Leader Kevin McCarthy (R-CA) at a House Republicans' party held late on the night of the 2022 U.S. midterm elections in Washington, U.S., November 9, 2022. The Georgia Senate race could end up in a Dec. 6 runoff, possibly with Senate control at stake.

Vance won Ohio's U.S. Senate race in Tuesday's midterm elections, but control of the chamber remained up for grabs with several contests too close to call. Democrats currently control the 50-50 Senate with Vice President Kamala Harris able to break any ties. In addition to every House seat, 35 Senate seats and three dozen governors' races are on the ballot. (Live election results from around the country are here.) In Pennsylvania, Republican gubernatorial candidate Doug Mastriano, who sought to overturn the state's election results after Trump lost, was defeated by Democrat Josh Shapiro.

[1/14] A voter waits in line to cast their ballot during the midterm elections, in McAllen, Texas, U.S., November 8, 2022. REUTERS/Callaghan O'HarePHOENIX, Ariz./BIRMINGHAM, Mich., Nov 8 (Reuters) - Republicans were favored to wrest control of the U.S. House of Representatives away from President Joe Biden's Democrats based on early returns in Tuesday's midterm elections, though the prospects of a "red wave" appeared to have dimmed. But importantly, that number can change as close to 200 of the 435 House races had yet to be called, including some with vulnerable Republican incumbents. But even a narrow Republican House majority would be able to block Biden's priorities while launching politically damaging investigations into his administration and family. (Live election results from around the country are here.)

Meta Platforms Inc (META.O) jumped over 6% following a report that the company was planning to begin large-scale layoffs this week. REUTERS/Brendan McDermid 1 2Unofficially, the S&P 500 climbed 0.96% to end the session at 3,806.90 points. S&P 500 by market capOf the 11 S&P 500 sector indexes, eight rose, led by communication services (.SPLRCL) which was up 1.83%, followed by a 1.73% gain in energy (.SPNY). Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 2.8-to-one ratio. The S&P 500 posted 18 new highs and 15 new lows; the Nasdaq recorded 93 new highs and 221 new lows.

☆ China is caught in a zero-Covid trap of its own making
▼ + stars: | 2022-11-02 | by ( Nectar Gan | ) edition.cnn.com time to read: +8 min

“The new political ecology also provided more incentive for local governments to impose more draconian Covid control measures,” Huang said. Chinese health officials maintain that changing tack now would risk a huge surge in infections and deaths that could overwhelm the country’s fragile health care system. Zhengzhou, a city of 12 million, imposed sweeping lockdown measures last month after identifying dozens of Covid-19 cases. On Wednesday, the Zhengzhou Airport Economy Zone, where the Foxconn plant is located, announced new lockdown measures. As the winter approaches, experts warn that China could be hit by a new wave of infections – and a new cycle of draconian lockdowns.

☆ Christina Applegate discusses her resolve to finish the final season of ‘Dead To Me’ amid her multiple sclerosis diagnosis
▼ + stars: | 2022-11-01 | by ( Dan Heching | ) edition.cnn.com time to read: +3 min

CNN —Christina Applegate is opening up about living with multiple sclerosis, and how finishing her acclaimed show “Dead to Me” was important to her. Applegate reflected on what it was like to receive her MS diagnosis over the summer of 2021 during filming. “There was the sense of, ‘Well, let’s get her some medicine so she can get better,’” Applegate said. “Jen and Judy [their characters in “Dead to Me”] support each other, love each other, help each other through things. “I’m sure that people are going to be, like, ‘I can’t get past it.’”“Fine, don’t get past it, then,” she added.

☆ How Russia Pays for War
▼ + stars: | 2022-10-30 | by ( Lazaro Gamio | Ana Swanson | ) www.nytimes.com time to read: +17 min

Invasion –84% Imports from Russia –20% Germany Current total trade $4.8 billion Since invasion –3% Exports to Russia Avg. Invasion –51% Imports from Russia +38% The Netherlands Current total trade $2 billion Since invasion +32% Exports to Russia Avg. Invasion –52% Imports from Russia +74% China Current total trade $15 billion Since invasion +64% Exports to Russia Avg. Invasion +24% Imports from Russia +98% India Current total trade $3.3 billion Since invasion +310% Exports to Russia Avg. Invasion –19% Imports from Russia +430% Turkey Current total trade $6.2 billion Since invasion +198% Exports to Russia Avg.

☆ Cuba is in the middle of an escalating tug-of-war between Russia, U.S.
▼ + stars: | 2022-10-27 | by ( Associated Press | ) www.nbcnews.com time to read: +8 min

It also once again thrust the Caribbean island into the middle of an escalating tug-of-war between its seaside neighbor, the United States, and ally, Russia. The sales also potentially alleviated the weight of international sanctions on Russia for its invasion of Ukraine. Until the fall of the Soviet Union in 1991, the Soviets sold Cuba oil well below market price. A double hit to its power gridPreexisting economic turmoil and blackouts came to a head this fall when Cuba’s power grid took a double hit. Increased sales to China, India and even Cuba have helped Russia ease the economic brunt of sanctions.

☆ The Great People Shortage is coming — and it's going to cause global economic chaos
▼ + stars: | 2022-10-20 | by ( Sebastian Dettmers | ) www.businessinsider.com time to read: +11 min

The great labor shortage caused by the declining population will cripple our global economy unless we find innovative ways to keep things running. The German working population will have declined by a third, based on the average scenario from the researchers, and in Italy, Spain, and Greece it will have declined by more than half. We are already experiencing the beginning of this great labor shortage in industries ranging from airlines to day cares. In the US, the increase in the number of retirees compared with the working population is already straining the system. To combat the coming population bust, the world will need nothing less than a revolution of our minds.

WASHINGTON, Oct 17 (Reuters) - Russia has not yet notified the United States about exercises of its nuclear forces that Washington expects Moscow to carry out soon, a senior U.S. military official said on Monday. That has yet to come, the U.S. military official said, speaking on condition of anonymity. Register now for FREE unlimited access to Reuters.com Register"No, we have not received any type of official notification," the military official told reporters. The U.S. military official condemned the Russian strikes, saying they appeared designed to terrorize Ukraine's civilian population. The U.S. military official said history showed that air campaigns that try to psychologically cripple a population with such tactics will backfire.

Ukraine has accused Russia of deploying missiles made by MMZ Avangard against ground targets since Russia launched what it terms its "special operation" on Feb. 24. "Extreme equipment is used on Russian warships," the complaint said, "in communications systems." "It was necessary to use a cover because the Russian company is blacklisted in the U.S.," one of the people familiar with the shipments said. The executive said he had never heard of Extreme or of DEMZ buying Extreme equipment for itself or on behalf of others. Like MMZ Avangard, United Shipbuilding has been listed as a "blocked" entity by the U.S. Treasury since July 2014.

Now, the United States is going after China's advanced computing and supercomputer industry. The provision called the foreign direct product rule, or FDPR, was first introduced in 1959 to control trading of U.S. technologies. So they expanded the FDPR to control trade of chips made using U.S. technology or tools. The latest move would ban any semiconductor manufacturing firm that uses American tools - which most do - from selling advanced chips to China, said Karl Freund, a chip consultant at Cambrian AI who watches the supercomputing space. In that case, it could take China five to 10 years to catch up to today's technology, he added.

Refiners, insurers, shippers and traders would be able to deal in Russian crude and products if they adhere to the price cap and its associated compliance measures. For argument's sake let's assume a Brent price of $80 by December when the ban comes into effect, and a price cap for Russian crude of $60. However, the United States and Europe may actually not mind cheating on the price cap, depending on how the money is split up. More tankers will be required to ship Russian crude given an increase in voyage times if the crude and products go to Asia rather than Europe. The oil industry would likely prefer that Europe and the United States don't place restrictions on Russian crude, but this currently isn't an option from a political perspective.

The eventual ruling could cripple the Voting Rights Act, whose passage was fueled by historic marches for Black voting rights and the violent response by local authorities in Alabama from Selma to Montgomery. Democratic President Joe Biden's administration and a number of voting rights groups are supporting the plaintiffs. The case centers on a Voting Rights Act provision, called Section 2, aimed at countering voting laws that result in racial bias even absent racist intent. Conservative states and groups already have successfully prodded the Supreme Court to limit the Voting Rights Act's scope. In a major 2019 ruling, the Supreme Court barred federal judges from curbing the practice, known as partisan gerrymandering.

☆ Michigan GOP gubernatorial nominee Tudor Dixon mocks 2020 kidnapping plot against Democratic Gov. Gretchen Whitmer
▼ + stars: | 2022-09-24 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Michigan GOP gubernatorial nominee Tudor Dixon mocked the kidnapping plot against Gov. "Gretchen Whitmer sure is good at taking business hostage and holding it for ransom," Dixon said. Two men were convicted in the plot, in which they sought to kidnap Whitmer from her vacation home. Insider contacted Dixon's campaign office for comment, but didn't immediately receive a reply Saturday. "Tudor Dixon's comments are dangerous, an insult to law enforcement who keep us safe, and utterly disqualifying for the role of Michigan governor," he said.

Keep up to date on the latest of Trump's legal travails, both criminal and civil, with this guide to the ever-evolving Trump docket. The Issues: Trump's real estate and golf resort business is accused of giving its executives pricey perks and benefits that were never reported as income to taxing authorities. The issues: They say Donald Trump sicced his security guards on their peaceful, legal protest outside Trump Tower in 2015. Donald Trump, right, sits with his children, from left, Eric Trump, Donald Trump Jr., and Ivanka Trump during a groundbreaking ceremony for the Trump International Hotel on July 23, 2014, in Washington. The Issues: Donald Trump is accused of promoting a scam multi-level marketing scheme on "The Celebrity Apprentice."

☆ Mick Mulvaney, now a never-Trumper, still thinks NY AG Letitia James' civil fraud lawsuit is all wrong
▼ + stars: | 2022-09-23 | by ( Warren Rojas | Laura Italiano | ) www.businessinsider.com time to read: +2 min

Mick Mulvaney, Donald Trump's former budget director, blasted NY AG Letitia James' Trump case. Now a never-Trumper, Mulvaney asks of James' lawsuit, 'Who's the victim here?' In August, Mulvaney called Trump the only Republican who could lose to a Democrat in the 2024 election. "They didn't lose money," Trump said. James' lawsuit alleges that Trump enriched himself by an undeserved $250 million by lying over the past decade to Deutche Bank and other lenders on financial documents.

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