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☆ Flight Delays Unleash Day of Chaos at U.S. Airports
▼ + stars: | 2023-01-12 | by ( Jacob Passy | Ben Kesling | ) www.wsj.com time to read: 1 min

The holiday travel rush is over. Many U.S. travelers on Wednesday morning found their flight troubles weren’t. An outage with the Federal Aviation Administration’s Notice to Air Missions system temporarily grounded all flights in the U.S. As of late afternoon, nearly 1,300 flights to, from, or within the U.S. had been canceled, and nearly 9,000 were delayed, according to FlightAware, a flight-data specialist.

☆ Inflation, recession and earnings among factors to drive U.S. stocks in 2023
▼ + stars: | 2022-12-28 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +4 min

The S&P 500 (.SPX) is down nearly 20% year-to-date with only a few trading days left in 2022, on pace for its biggest calendar-year drop since 2008. S&P 500 timeline in 2022Inflation, and the Fed's degree of aggressiveness in trying to contain it, will likely remain a critical factor driving equity performance as 2023 gets under way. Recessions tend to hit stocks hard, with the S&P 500 falling an average of 29% during recessions since World War Two, according to Truist Advisory Services. Investors are also concerned that corporate earnings estimates may not have fully factored in a potential slowdown, leaving more downside for stocks. Consensus analyst estimates project S&P 500 earnings to rise 4.4% in 2023, according to Refinitiv IBES.

☆ Massive winter storm threatens holiday travel for millions of Americans
▼ + stars: | 2022-12-22 | by ( Tyler Clifford | ) www.reuters.com time to read: +5 min

In its wake, the cyclone could spawn snowfalls of a half inch an hour and winds of more than 50 mph (80 kph) in the Upper Midwest and interior Northeast, the weather service said. "This will lead to dangerous, to at times impossible, land and air travel leading up to the holiday weekend," the agency said on its website. Temperatures in parts of the Southern Plains and Southeast could stay below freezing -- 30-plus degrees less than normal -- for multiple days, the weather service predicted. The weather service also warned of freezing rain in parts of Oregon and Washington in the Northwest, where the storm originated, late Thursday. That would be the biggest daily drop in output since the freeze of February 2021 when a winter storm cut gas supplies from Texas and forced the Texas electric grid operator to impose rolling power outages.

☆ The Top 10 Christmas Movies We're Watching
▼ + stars: | 2022-12-22 | by ( Sarah Krouse | ) www.wsj.com time to read: 1 min

Samba TV, which collects data on what people are watching on their smart TVs, looked at how many U.S. households viewed holiday fare between Nov. 8 and Dec. 11. Most still prefer decades-old Christmas movies. Peter Billingsley in "A Christmas Story" (1983)

☆ Why detransitioners are crucial to the science of gender care
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +43 min

A Canadian health provider said it couldn’t participate, citing recent threats to hospitals offering youth gender care. But as Reuters found, hard evidence on long-term outcomes for the rising numbers of people who received gender treatment as minors is very weak. Dr Marianne van der Loos, the Dutch study’s lead author, is a physician at Amsterdam University Medical Center’s Center for Expertise on Gender Dysphoria, a pioneer in gender care for adolescents. For those who also received medical treatment, detransitioning typically includes halting the hormone therapy they otherwise would receive for years. One is Max Robinson, who was 16 when she sought gender care at Kaiser in 2012.

French container line CMA CGM sees the ownership of cargo terminals at U.S. ports as the next step in its bid to extend its shipping business into greater inland logistics. “Port terminals are an essential piece of the supply-chain efficiency, being at the crossroads of sea and land operations,” said Christine Cabau Woehrel, CMA CGM Group’s executive vice president of operations and assets. CMA CGM earned $17.9 billion in net profits in 2021 and its earnings in the first three quarters of this year reached more than $20.4 billion. The purchases come as CMA CGM is spending billions to buy logistics operations and more recently launch an airfreight service. China’s Cosco Shipping Ports has expanded its terminal operations around the world in concert with expansion by state-owned Cosco Shipping Lines.

☆ Biden admin wants to boost efforts to track U.S. weapons in Ukraine, may send another handful of troops
▼ + stars: | 2022-12-12 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Courtney-Kube-Circle-Byline-Template.Jpg | Courtney Kube | ) www.nbcnews.com time to read: +4 min

The Pentagon is working to shore up efforts to track weapons provided to Ukraine, according to three senior U.S. officials, including discussing whether to send a small number of additional U.S. troops to Ukraine. The Pentagon has a couple dozen U.S. troops in Ukraine at present, including a very small number already assigned to making sure weapons reach their intended recipients. While the U.S. troops do not travel to the front lines, they would travel outside Kyiv to scan barcodes on weapons and equipment to track supplies. The State Department also imposes caps on how many U.S. government officials — civilian and military — can live and work in other countries and that limit is low in Ukraine, officials say. “That’s ridiculous,” a U.S. defense official said, explaining that this is an “extremely limited” additional presence with a “very specific” mission.

WASHINGTON, Dec 9 (Reuters) - Thursday's release of U.S. basketball star Brittney Griner in exchange for a convicted Russian arms dealer has resurfaced an old question: Do prisoner swaps do more harm than good? The details of Griner's release highlight the painful trade-offs confronting the Biden administration. In one such case in 2016, North Korea detained American college student Otto Warmbier during a dispute with the international community over that country's missile launches. Many of the families argue that the U.S. should be willing negotiate and discount the argument that prisoner swaps lead more countries to grab Americans. Those hard choices meant Washington could either leave Whelan in Russian custody or else return empty-handed after months of negotiations.

☆ Ukraine war shows Europe too reliant on U.S., Finland PM says
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

HELSINKI, Dec 2 (Reuters) - Russia's invasion of Ukraine has shown that Europe is too reliant on the United States for its own security, Finnish Prime Minister Sanna Marin said on Friday. We would be in trouble without the United States," Marin told an audience at the Lowy Institute. She added she had spoken with many U.S. politicians who had said they think Europe should be stronger. "The United States has given a lot of weapons, a lot of financial aid, a lot of humanitarian aid to Ukraine and Europe isn't strong enough yet," Marin said. "We have to make sure that we are building those capabilities when it comes to European defence, European defence industry."

Consumers are racking up credit card debt at a pace not seen in decades as inflation continues to pervade the U.S. economy. And while analysts say many U.S. consumers remain in good financial shape thanks mostly to low unemployment, the debt situation is growing dire. As the Federal Reserve has continued to lift interest rates to counter sky-high inflation, credit card rates have climbed to the highest levels ever measured. At just 2.1%, credit card delinquency rates remain below pre-pandemic levels. Still, said Raneri of TransUnion, as long as credit card companies are willing to continue to extend credit, credit scores will mostly remain unaffected.

☆ Amazon CEO says Prime could become 'standalone business,' stands by layoffs
▼ + stars: | 2022-11-30 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Amazon (AMZN) could potentially spin off its Prime streaming unit as a separate company, CEO Andy Jassy said Wednesday. During a wide-ranging interview at the The New York Times' DealBook Summit , Jassy said that "overtime we have opportunities to make our Prime video business a standalone business that has very attractive economics." Streaming Amazon's Prime Video, one of the fastest growing streaming services, could be a standalone business one day, Jassy said. "Our Prime Video offering is an important ingredient...increasingly you see more and more people signing up to Prime because of the video content," he explained. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

☆ Biden asks Congress to avert rail strike, warning of dire economic impact
▼ + stars: | 2022-11-28 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Nov 28 (Reuters) - U.S. President Joe Biden on Monday called on Congress to intervene to avert a potential rail strike that could occur as early as Dec. 9, warning of the potential dire economic impact. Biden asked lawmakers to adopt the tentative deal announced in September "without any modifications or delay - to avert a potentially crippling national rail shutdown." "The risks to our nation’s economy and communities simply make a national rail strike unacceptable," says the letter to congressional leaders first reported by Reuters. "Therefore, absent a voluntary agreement, we call on you to take immediate steps to prevent a national rail strike and the certain economic destruction that would follow." If they do not, workers could strike or railroads could lock out employees - unless Congress intervenes.

Fungal infections are more widespread than doctors or patients realize, research suggests. People generally get fungal infections after breathing in spores. Thompson’s paper came just weeks after another study revealed high rates of fungal disease diagnoses far outside their traditionally understood geographies. A World Health Organization report in October also found that severe fungal infections became more prevalent among people with pre-existing health issues during the Covid pandemic. In some cases, fungal infections can take months of treatment to clear and may become chronic.

☆ U.S. moves to shield Saudi crown prince in killing of journalist Jamal Khashoggi
▼ + stars: | 2022-11-18 | by ( The Associated Press | ) www.nbcnews.com time to read: +6 min

The U.S. intelligence community concluded Saudi Arabia’s crown prince had approved the killing of the widely known and respected journalist, who had written critically of Prince Mohammed’s harsh ways of silencing of those he considered rivals or critics. The Biden administration statement Thursday noted visa restrictions and other penalties that it had meted out to lower-ranking Saudi officials in the death. Khashoggi’s fiancée, Hatice Cengiz, and DAWN sued the crown prince, his top aides and others in Washington federal court over their alleged roles in Khashoggi’s killing. Prince Mohammed serves as Saudi Arabia’s de facto ruler in the stead of his aged father, King Salman. The Saudi king in September also temporarily transferred his title of prime minister — a title normally held by the Saudi monarch — to Prince Mohammed.

☆ U.S. moves to shield Saudi Crown Prince Mohammed bin Salman in Khashoggi killing
▼ + stars: | 2022-11-18 | by ( ) www.cnbc.com time to read: +2 min

The Biden administration declared Thursday that the high office held by Saudi Arabia's crown prince should shield him from lawsuits for his role in the killing of a U.S.-based journalist, a turnaround from Joe Biden's passionate campaign trail denunciations of Prince Mohammed bin Salman over the brutal slaying. The State Department on Thursday called the administration's decision to try to protect the Saudi crown prince from U.S. courts in Khashoggi's killing "purely a legal determination." The State Department cited what it said was longstanding precedent. Saudi officials killed Khashoggi at the Saudi consulate in Istanbul. The U.S. intelligence community concluded Saudi Arabia's crown prince had approved the killing of the widely known and respected journalist, who had written critically of Prince Mohammed's harsh ways of silencing of those he considered rivals or critics.

A recent multimillion-dollar transaction could show how Trump might get around that restriction. Many U.S. election law experts expect that MAGA Inc will spend money to support Trump's 2024 campaign, which he officially kicked off on Tuesday. "That's a gray area in the law that they might try to exploit," said Weiner, a former lawyer at the Federal Election Commission. If the FEC doesn't act on the Campaign Legal Center's request for a probe, the group could ask a judge to order the regulator to launch an investigation. A deadlock could lead to further court cases, potentially running out the clock before the 2024 election.

☆ Key takeaways from the G20 summit in Bali
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +6 min

Here are key takeaways from the meeting:CONDEMNING RUSSIAN AGGRESSIONMeetings of G20 ministers earlier this year ended without joint declarations because of Russian opposition to references to the war in Ukraine. With the Ukraine war, as well as massive pandemic-era spending packages blamed for fuelling red-hot inflation, the G20 countries said further fiscal stimulus measures should be "temporary and targeted". Besides the meeting with Biden, Xi held talks with Australian Prime Minister Anthony Albanese, South Korean President Yoon Suk-yeol, Canadian Prime Minister Justin Trudeau and French President Emmanuel Macron. A meeting with British Prime Minister Rishi Sunak was cancelled due to scheduling issues, Downing Street said. Xi is set to meet Japanese Prime Minister Fumio Kishida later this week.

☆ There's a major shift underway in manufacturing for U.S. companies
▼ + stars: | 2022-11-04 | by ( Frank Holland | In | ) www.cnbc.com time to read: +2 min

Justin Sullivan | Getty ImagesThe supply chain may be getting better, but the challenges aren't going away. "We're in a post globalization world now," he said of the supply chain crunch caused by the Covid-19 pandemic. "The chaos and the disruption is proving that the supply chain just wasn't as robust as they expected it to be." Rising costs in supply chain shifts are also impacting business decisions. Sixty-one percent of survey respondents said wage and recruitment freezes would be their top move to combat continued rising supply chain costs.

☆ DoorDash revenue beats estimates as appetite for food delivery holds up
▼ + stars: | 2022-11-03 | by ( Ananya Mariam Rajesh | ) www.reuters.com time to read: +1 min

Even though dining out has resumed in force, people are still ordering food online from the comfort of their homes like they did during lockdowns. DoorDash recorded 439 million orders in the quarter and a 30% rise in gross order value - the total value of all app orders and subscription fees - to $13.5 billion. It forecast fourth-quarter gross order value of between $13.9 billion and $14.2 billion, and reiterated full-year expectations for the key industry metric. The company's revenue rose 33% to $1.70 billion in the third quarter, surpassing analysts' estimates of $1.63 billion, according to IBES data from Refinitiv. However, the San Francisco-based firm's net loss widened to $295 million, or 77 cents per share, from $101 million, or 30 cents per share, a year earlier.

☆ China's Covid controls are pushing companies to diversify away from a 'start-stop economy'
▼ + stars: | 2022-11-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

After a Covid outbreak at a Foxconn factory in Zhengzhou, China, some workers chose to go home. Vcg | Visual China Group | Getty ImagesBEIJING — China's decision to maintain Covid controls is pushing companies to look to factories outside the country, according to The Economist Intelligence Unit. Beijing's stringent Covid controls helped the country resume work while the rest of the world still struggled with the pandemic in 2020. watch nowOver the weekend, some Foxconn workers reportedly forced their way out of Covid controls at the factory. JPMorgan analysts predicted that just 5% of Apple's global iPhone 14 production would move to India this year.

☆ Estee Lauder cuts forecasts on China curbs, tightening inventories
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

The New York-based company's shares were down about 12% in premarket trade after the company also forecast second-quarter sales and profit below estimates. Sales growth of many U.S. companies such as Estee and Canada Goose have been impacted in China, with the country implementing a zero-COVID policy to fight rising infections. Estee generated about 31% of its sales from the Asia-Pacific region in fiscal 2022, according to a regulatory filing. However, European peers Kering (PRTP.PA) and cosmetics group L'Oreal (OREP.PA) had posted strong quarterly sales last month as robust demand in Europe and the United States helped them offset disruptions in China. Estee now expects 2023 net sales to decrease between 6% and 8%, compared with the prior forecast of a 3% to 5% growth.

☆ Nearshoring represents 'a lifetime opportunity' to invest in Mexico, BofA says. How to play it
▼ + stars: | 2022-11-02 | by ( Fred Imbert | ) www.cnbc.com time to read: +5 min

This has already led to a manufacturing surge in Mexico and represents "a lifetime opportunity" to invest in Latin America's second-largest economy, according to Bank of America. "Nearshoring represents Mexico's best growth opportunity for the next 10 years and it is already occurring," Bank of America's Capistran said. The EWW is up 1.9% in 2022, easily outperforming the S & P 500. All five of those stocks are outperforming the S & P 500 this year, with FirstCash jumping nearly 30% and Sanmina popping 38%. PriceSmart and Ingredion are down 6.4% and 8.2%, respectively, in 2022, but that's still better than the S & P 500's 19% drop for the year.

According to Harvard, around 40% of U.S. colleges and universities consider race in some fashion in admissions. The Supreme Court has been upheld such policies, most recently in a 2016 ruling involving a white woman who sued after the University of Texas rejected her. Ruling in favor of the plaintiffs could require the court to overturn its 2016 ruling and earlier decisions. 'DIVERSITY AND INCLUSION'The lawsuits accused UNC of discriminating against white and Asian American applicants and Harvard of discriminating against Asian American applicants. Circuit Court of Appeals found that Harvard's use of race was "meaningful" and not "impermissibly extensive" because it prevented diversity from plummeting.

☆ Biden admin has discussed slow-rolling Saudi military aid as payback for oil production cut
▼ + stars: | 2022-10-29 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Courtney-Kube-Circle-Byline-Template.Jpg | Courtney Kube | ) www.nbcnews.com time to read: +4 min

The Biden administration has discussed slow-rolling military aid to Saudi Arabia, including shipments of advanced Patriot missiles, to punish the kingdom for leading OPEC’s decision to cut oil production, say two U.S. officials and a source familiar with the discussions. Some military officials support the idea, said the sources, but others want to make sure the military relationship between the U.S. and Saudi Arabia is kept separate from any retribution by the administration. OPEC’s move spurred a back and forth between the U.S. and Saudi Arabia, with Biden administration officials vowing there would be consequences for the Saudis. “There needs to be a balance between punishing the Kingdom of Saudi Arabia and not making life more difficult or dangerous for the U.S.,” one U.S. official said. One White House official said that while changes to security assistance are under consideration the Biden administration is not in a rush to take action.

☆ American companies increasingly look outside of China after Covid
▼ + stars: | 2022-10-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

For 2022, 19% of respondents said they were cutting investment in China, up from 10% in 2021, the report said. The top reasons for doing so were Covid-related shutdowns, travel restrictions and supply chain disruptions, survey respondents said. A bounce of 3.9% in the third quarter brought year-to-date GDP growth to 3% — well below the official target of around 5.5%. Looking to Southeast AsiaOne-third of respondents redirected planned China investments to other destinations in the past year, the survey found. The vast majority of companies in the chemicals, pharmaceutical, medical devices and life sciences industries planned to keep operations in China, the report said.

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