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Istanbul, Turkey CNN —Turkey will have a runoff election on May 28 after longtime leader President Recep Tayyip Erdogan was forced into a second round with only a narrow lead over his rival, Kemal Kilicdaroglu. Neither candidate achieved the required 50% to take the presidency outright, but Kilicdaroglu now faces a tough battle to win the second round after Erdogan performed better than some opinion polls had suggested. With the final count, the electorate will turn to a second round of voting that could extend Erdogan’s 20-year grip on power, or set the stage for a change in political direction. “If our nation says second round, we gladly accept it. We will absolutely win this election in the second round.

☆ Israel-Gaza violence: Islamic Jihad targets Jerusalem for the first time in current conflict as it fires barrage of rockets at Israel
▼ + stars: | 2023-05-12 | by ( Elliott Gotkine Ibrahim Dahman Abeer Salman Richard Allen Greene Alex Stambaugh Sana Noor Haq | Elliott Gotkine | Ibrahim Dahman | ) edition.cnn.com time to read: +7 min

The al Quds Brigades of Islamic Jihad said in a statement shortly after the rocket fire: “The launching towards Jerusalem is a message, and everyone should understand its purpose. Talks to bring about a ceasefire between Israel and Islamic Jihad in Gaza are “on ice right now,” a diplomatic source familiar with the negotiations told CNN Friday. One command center was used by senior Islamic Jihad operative Muhammad Abu Al Ata for “the planning and command of terrorist activity against Israel,” the IDF said. The Israel Defense Forces said that IDF fighter jets also struck four military posts belonging to Islamic Jihad. ‘Shield and Arrow’The IDF began unleashing waves of airstrikes on Tuesday on what it says are Islamic Jihad operatives and infrastructure along the strip.

☆ Over 60% of Americans don't talk about money—here's why that could hold you back from building wealth
▼ + stars: | 2023-05-10 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +4 min

Growing up, you might have been taught that it's impolite to talk about money at a dinner party or other social gathering. The reason: Talking about money can help you make smarter financial decisions, feel more confident in your situation and, ultimately, build wealth. Majority of Americans talk about money with their spouses, but not with friendsWhen Americans do talk about money, they're most likely having those conversations with their spouse or partner. However, many couples still don't: Nearly half (46%) of respondents say they don't talk about money with their partners. On top of that, 75% of people don't have financial conversations with their friends.

Russian servicemen rehearse on Sunday for the Victory Day parade, when Moscow will aim to display its military prowess. Kirill Kudryavtsev/AFP/Getty ImagesSeveral Russian regions have cut back on Victory Day celebrations, due to insufficient military weapons available for display. World leaders such as former German Chancellor Angela Merkel and former UN Secretary-General Kofi Annan attended the military parade in previous years. ‘Evil has returned’Ukrainian President Volodymyr Zelensky on Monday suggested moving Ukraine's Victory Day parade a day earlier so it does not align with Moscow's celebrations. Like Russia, Ukraine traditionally commemorates victory over the Nazis on May 9, but that date has become increasingly associated with a parade in Moscow.

☆ If Charles wants a coronation, he should pay for it himself
▼ + stars: | 2023-05-05 | by ( Opinion Ahmed Twaij | ) edition.cnn.com time to read: +6 min

If Charles III wants the pomp and ceremony of a coronation, he should instead use a negligible portion of the vast sums of money he has accrued over the years thanks to his birth-given status as a royal. Spain’s last formal coronation was all the way back in 1555, while Belgium’s monarchy doesn’t even have a crown with which to conduct a coronation. It also found that a plurality of 45% believe Charles is “out of touch” with the experiences of the public. However, these tourist dollars might well continue whether or not the royal family does. Maybe if a tighter budget is applied to the British royal family, Charles rather than taxpayers will be paying the next time he opts to board a £32,000 ($40,200) charter flight to attend a James Bond premiere.

Just 21% say their views on the royal family have gotten more positive over the past decade, with another 41% saying their overall opinion has stayed the same. A CNN poll suggests attitudes towards the British royal family have worsened over the past decade, ahead of the coronation of King Charles III. Prince Harry (right) and Meghan (left) are among those members of the royal family rated most favorably by young people. Jamie Lorriman/AFP/Getty ImagesBut not all members of the royal family are viewed in the same light. The poll was conducted on March 24 through 26 among a random sample of 2,093 UK adults aged 18 and older.

☆ Insurer AIG exceeds profit estimates on strong underwriting gains
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +2 min

May 4 (Reuters) - American International Group Inc (AIG.N) beat market estimates for first-quarter profit on Thursday, as record underwriting gains cushioned the blow from lower alternative investment returns. AIG, one of the world's biggest commercial insurers, said net premiums written in its general insurance for the quarter ended March grew 5% to $6.97 billion. Total consolidated net investment income rose 9% to $3.5 billion, partially offset by lower alternative investment income, AIG said. The New York-based company's general insurance underwriting income rose 13% to $502 million, its strongest first-quarter underwriting results, the insurer said. The general insurance accident year combined ratio was 88.7%, compared with 89.5%, a year earlier.

CNN —Sudanese actress Asia Abdel-Majid was killed in crossfire during fighting in the capital Khartoum on Wednesday, amid clashes between two warring factions that have devastated Sudan and led to the deaths of hundreds of civilians. The 80-year-old was killed after shells hit her home in Bahri, north of the capital, in fighting between the paramilitary Rapid Support Forces and the Sudanese army, her nephew told CNN. It is unclear if it was the RSF or the army that fired the shot that killed Abdel-Majid. The kindergarten is next door to Abdel-Majid’s home, where she was alone when the shelling took place. ‘Torn apart’Smoke rises over Khartoum during clashes between the RSF and the Sudanese army on April 17, 2023.

Most Western embassies in Sudan were evacuated a week into the fighting, leaving many Sudanese visa applicants without their travel documents and in legal limbo. Several Sudanese citizens told CNN they cannot flee the conflict-ridden country because their passports are held at evacuated Western embassies. These are passports of Sudanese passport holders who have applied for a short-stay Schengen visa or an MVV (provisional residence permit). But unfortunately the ICRC cannot issue emergency travel documents for people to leave their own country,” they told CNN in a statement. Mohamed Nureldin Abdallah/Reuters“I am now an obstacle for my family since they cannot travel and leave me,” she told CNN.

☆ Sudan conflict: 'Am I going to get killed in front of my family?' Stories of terror on the risky escape route
▼ + stars: | 2023-04-25 | by ( Sana Noor Haq Catherine Nicholls Celine Alkhaldi Magdy Samaan | Sana Noor Haq | Catherine Nicholls | ) edition.cnn.com time to read: +9 min

CNN —Safa Babikir was sleeping in her aunt’s house in Khartoum when she was woken by gunfire. Then, she says, “the screams started.”Desperate to escape the fierce fighting in Sudan’s capital, Babikir soon made a decision to flee the country on a treacherous bus journey to neighboring Egypt. In Sudan, bus drivers are avoiding areas under RSF control, according to al-Idrisi, as they try to avoid skirmishes between the armed forces and the paramilitary group. “The darkest thought I had was, am I going to get killed in front of my family? “Ultimately they were able to escape Khartoum; which seems to be the ultimate mission for a lot of people,” Imad said.

☆ Elephant in Pakistan zoo dies, reviving concern over animal treatment
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +2 min

KARACHI, Pakistan, April 22 (Reuters) - Noor Jehan, an elephant in Pakistan's Karachi Zoo whose illness revived criticisms of the nation's zoos, died on Saturday despite frantic efforts to treat her, officials said. The critically ill 17-year-old elephant had fallen into a pond this month and been unable to get up without help. The director of the Karachi Zoo was removed this month over complaints of negligence. A court in 2020 ordered the closure of the Islamabad Zoo, where the elephant Kaavan was kept. Khalil said Karachi Zoo did not meet international standards and urged that Madhubala, the healthy elephant remaining at the zoo, be relocated to a more species-appropriate place to give her a chance at a better life.

A 17-year-old critically ill elephant called Noor Jehan has died at Pakistan’s Karachi Zoo, with the animal welfare charity that had been treating her calling for the zoo’s closure. Noor Jehan represents so many more wild animals that suffer in captivity, in Pakistan and worldwide,” the group said. “We welcome that the Federal and Sindh government are considering shutting down Karachi Zoo permanently. Reuters reported that the director of Karachi Zoo Khalid Hashmi was removed from is role on April 8 over complaints of negligence. Noor Jehan was brought to Pakistan from Tanzania more than a decade ago, Reuters said.

☆ NATO chief visits Kyiv: Jens Stoltenberg says Ukraine's "rightful place" is in the alliance
▼ + stars: | 2023-04-20 | by ( Sana Noor Haq Luke Mcgee Alex Hardie Zahid Mahmood Victoria Butenko | Sana Noor Haq | Luke Mcgee | ) edition.cnn.com time to read: +5 min

CNN —NATO Secretary General Jens Stoltenberg said Thursday “Ukraine’s future is in NATO,” in his strongest remarks reaffirming ties with Kyiv since Russia launched its full-scale invasion in February 2022. NATO Secretary General Jens Stoltenberg visits the Wall of Remembrance to pay tribute to fallen Ukrainian soldiers in Kyiv on April 20, 2023. Gleb Garanich/ReutersStoltenberg (left) and President Volodymyr Zelensky (right) meet during the alliance chief's historic trip to Ukraine on Thursday. Finnish public support for accession snowballed following the invasion of Ukraine, and also reignited calls from Kyiv to join. Speaking at a joint conference in Kyiv, Zelensky said he valued the support from the alliance but pressed Stoltenberg on when Ukraine would be invited to join NATO.

☆ Insurer Travelers profit falls as costs from severe storms bite
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

April 19 (Reuters) - Property and casualty insurer Travelers Companies Inc (TRV.N) on Wednesday reported a fall in quarterly profit, hurt by severe wind and hail storms in parts of the United States in March. The storms pushed up the insurer's catastrophe losses net of reinsurance to $535 million from $160 million a year earlier. Two U.S. lenders crumbled after a flight of deposits spiraled out of control last month, sparking a global crisis that shook investor confidence in the banking industry and rattled markets. The turbulence has since subsided after intervention by regulators, but analysts have warned the banking industry will suffer long-term repercussions. Travelers' profit was helped by a 4% rise in net investment income to $663 million.

☆ Insurer Travelers profit falls on U.S. storm costs
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

April 19 (Reuters) - Property and casualty insurer Travelers Companies Inc (TRV.N) on Wednesday reported a 6% fall in quarterly profit, hurt by severe wind and hail storms in parts of the United States in March. The storms pushed up the insurer's catastrophe losses net of reinsurance to $535 million from $160 million a year earlier. Two U.S. lenders crumbled after a flight of deposits spiraled out of control last month, sparking a global crisis that shook investor confidence in the banking industry and rattled markets. The turbulence has since subsided after intervention by regulators, but analysts have warned the banking industry will suffer long-term repercussions. Travelers' profit was helped in part by a 4% rise in net investment income to $663 million.

April 18 (Reuters) - Goldman Sachs Group Inc's (GS.N) profit fell 19% as dealmaking and bond trading slumped in the first quarter and it lost money on the sale of some assets in its consumer business. Goldman booked a $470 million loss on the sale of some loans from Marcus, dragging down first quarter results. The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. But deposits held in the Marcus business remain core to Goldman and are not under review, a source familiar with the matter had told Reuters earlier this year. Goldman's lackluster trading results contrast with those of Bank of America Corp (BAC.N), which also reported earnings on Tuesday.

Wells Fargo fared less favorably, down 0.3%, and regional banks including Zions (ZION.O) and First Republic (FRC.N) fell. Net interest income, a measure of how much a bank earns from lending, surged 49% to $20.8 billion. Meanwhile, Wells Fargo set aside $1.21 billion in the quarter to cover for potential loan losses, compared to a release of $787 million a year earlier. "While most consumers remain resilient, we've seen some consumer financial health trends gradually weakening from a year ago," Mike Santomassimo, Wells Fargo finance chief, told analysts. More banking results are due over the coming week, including Bank of America (BAC.N) and Goldman Sachs (GS.N) on Tuesday and Morgan Stanley (MS.N) on Wednesday.

Wells Fargo executives detailed the bank's exposure to CRE at length during a conference call with analysts. Deposits at Wells Fargo fell 2% to $1.36 trillion at the end of March, compared with $1.38 trillion at the end of last year. "Both Wells Fargo and JP Morgan delivered very, very solid results, blowing past the expected earnings. Reuters GraphicsAverage loans in the bank's commercial banking division rose 15%, while commercial loans rose roughly 7% from a year earlier. Wells Fargo is also still working to contain the fallout from a scandal over its sales practices that led to hefty fines and an asset cap imposed by the Fed.

[1/2] The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. First-quarter 2023 earnings from JPMorgan Chase & Co (JPM.N), Citigroup Inc (C.N) and Wells Fargo & Co (WFC.N) beat Wall Street expectations on Friday as consumer and corporate spending held up in the face of rate rises, although all three saw signs of a slowdown and made provisions accordingly. Net interest income, a measure of how much a bank earns from lending, surged 49% to $20.8 billion. Meanwhile, Wells Fargo set aside $1.21 billion in the quarter to cover for potential loan losses, compared to a release of $787 million a year earlier. "While most consumers remain resilient, we've seen some consumer financial health trends gradually weakening from a year ago," Mike Santomassimo, Wells Fargo finance chief, told analysts.

☆ Wells Fargo profit rises 32% as higher rates bolster interest income
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +3 min

April 14 (Reuters) - Wells Fargo & Co's (WFC.N) profit jumped 32% in the first quarter as it earned more from interest rate payments, helped by the U.S. Federal Reserve's tighter monetary policy, the lender reported Friday. The bank, however, set aside $1.21 billion in the quarter to cover for potential loan losses, compared to a release of $787 million a year earlier. The collapse of Silicon Valley Bank and Signature Bank last month prompted a rout in bank stocks as investors fretted over broader weaknesses in the industry. Deposits at Wells Fargo fell 2% to $1.36 trillion at the end of March, compared with $1.38 trillion at the end of last year. Overall, non-interest expenses fell to $13.68 billion from $13.85 billion a year earlier, mainly driven by lower operating losses.

[1/2] African elephant Noor Jahan, 17, who is unwell, rests on a sand pile, at a zoo in Karachi, Pakistan April 14, 2023. REUTERS/Akhtar Soomro TPX IMAGES OF THE DAYKARACHI, Pakistan, April 14 (Reuters) - Noor Jehan, an elephant in Pakistan's Karachi Zoo, is critically ill after the 17-year-old fell in a pond on Thursday in a small enclosure. Right after the fall Four Paws, a global animal welfare organization, recommended lifting Noor Jehan with a crane, ropes and belts. The veterinarian from Egypt had then given Noor Jehan a strong chance of survival. Khalid Hashmi was removed as director of Karachi Zoo on April 8 over complaints of negligence.

By Tuesday evening, Israeli Prime Minister Benjamin Netanyahu’s office announced it would prohibit non-Muslims from entering the holy site for the rest of Ramadan. “I see these visits as a raid on our holy site,” he said. That status quo is slowly being chipped away, says Sheikh Rani Abusibr, an Imam of nearly twenty-years at Al-Aqsa. There was a heightened security presence at the holy site when Easter, Ramadan, and Passover celebrations overlapped. Without the status quo arrangement being enforced, there are fears that an already tumultuous region could spiral out of control.

The contracted use of hotels was envisioned as a temporary measure, but adds strain to the asylum accommodation system. The cost of housing asylum seekers in hotels has increased over the past year, now exceeding £6 million ($7.4 million) a day, the Home Office told CNN in a statement. On Tuesday, the UK Home Office also said Afghans who have been living in temporary UK accommodation for 18 months will be given three months’ notice to move out of so-called bridging hotels. There are currently around 8,000 Afghans living in 59 bridging hotels in the UK, according to the Home Office. But campaigners also warned that the plan could exacerbate the trauma experienced by people displaced by political strife and conflict in Afghanistan.

☆ A Ramadan etiquette guide for non-Muslims
▼ + stars: | 2023-03-22 | by ( Saeed Ahmed | ) edition.cnn.com time to read: +3 min

If your Muslim co-worker takes a pass, understand. You don’t have to know when it begins …Ramadan isn’t like Christmas or Thanksgiving, as in everyone knows exactly when it’ll fall. … but please be a little flexibleHow we determine when Ramadan begins is decidedly old-school: You have to physically see the moon (even though there are apps for that). You can say ‘Ramadan Mubarak’ …There’s no “war on Christmas”-level controversy surrounding the greeting (it means “Happy Ramadan”). Your Muslim co-worker will appreciate the thoughtfulness.

Persons: It’s, you’re, Francois Nel, it’s, Iftar, Ulet Ifansasti, Ramadan, ”, We’ll, Mubarak ’ … Organizations: CNN, TED, Getty Locations: United States, Al Noor Mosque, Sharjah, UAE, Yogyakarta, Indonesia, Manila, Philippines, AFP

The S&P 500 banks index (.SPXBK) dropped 6.6% on Thursday and was set to open lower again on Friday. The crisis at SVG was feeding growing investor concerns that banks will be vulnerable to the rising cost of money. In an unusual step, Commerzbank, one of Germany's largest banks, issued a statement, playing down any threat from SVB, saying it did not see "a corresponding risk for us". "The market is treating this as a potential contagion risk," said Antoine Bouvet, senior rates strategist at ING in London. A spike in interest rates has led to a sell-off in bonds, leaving banks exposed to potential losses on the securities they hold.

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