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☆ Expert who recovered the Titan sub wreckage says ocean exploration is about 'passion and a joy for exploration'
▼ + stars: | 2023-07-01 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +4 min

Ed Cassano led the team that recovered the wreckage of the Titan sub. Cassano told a press conference that ocean exploration "was a passion and a joy for exploration." Odysseus 6K was the only ROV that took part in the search effort able to reach the depths of the Titanic wreckage. He said that they had prepared to rescue the Titan sub, but it soon became clear that the passengers could not have survived the journey. "Shortly after we arrived on the seafloor, we discovered the debris of the Titan submersible," he added.

Persons: Ed Cassano, 6K, Cassano, —, Hamish Harding, Dawood, Suleman, Paul, Henri Nargeolet, Paul Daly, Jasper Graham, Jones, it's, Graham Organizations: Service, Research Services, Titan, OceanGate, Stockton Rush, US Coast Guard, Canadian Press, AP, & Marine Engineering, Plymouth University Locations: British, Pakistani, French

☆ Photos of the Titan sub's wreckage support the theory that the carbon-fiber hull failed first, expert says
▼ + stars: | 2023-06-30 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +8 min

Glimpses of the wrecked Titan submersible wreckage were seen as its remains were brought ashore. Though it's difficult to know for sure, the carbon fiber hull likely failed first, an expert told Insider. The titanium structural rings are intactAn annotated picture of the titanium structural rings pulled from the wreckage of the Titan submersible. OceanGate Expeditions' controversial Titan submersible is thought to have imploded within hours of its descent towards the Titanic wreckage on June 18. These were encased in a metal cage that would have been bound to the carbon fiber hull.

Persons: —, Jasper Graham, Jones, OceanGate, Graham, it's, David Lochridge, It's, Paul Daly Organizations: Service, US Coast Guard, & Marine Engineering, Plymouth University, Titan, CBC News, Canada's CBC, Expeditions, Graham, OceanGate Expeditions, Reuters, Canadian Press, AP

CNN —Huge pieces of the doomed submersible Titan were hoisted onto a Canadian pier Wednesday nearly a week after authorities announced a “catastrophic implosion” had killed all five men onboard the minivan-sized vessel, according to the company leading the effort and photos of the task. Titan debris brought up from the ocean floor is unloaded Wednesday from the Horizon Arctic ship at the Canadian Coast Guard pier in St. John's. Pelagic Research Services deferred questions to the US Coast Guard, adding its team cannot comment on or provide any information related to the investigation into the Titan’s demise. The company will hold a news conference at its East Aurora, New York, operations base after “our team has regrouped,” it said. A Transportation Safety Board of Canada spokesperson declined to comment to CNN, saying more information about its investigation is forthcoming as warranted.

Persons: Canadian Press ’ Paul Daly, John's, Paul Daly, Titan’s, “ Organizations: CNN, Canadian Coast Guard, Canadian Press, Research, Crew, US Coast Guard, Transportation Safety Board, Canada Locations: St, John’s, Newfoundland, Labrador, Aurora , New York

☆ Zambia's bondholders see debt restructure deal in coming weeks
▼ + stars: | 2023-06-27 | by ( Marc Jones | ) www.reuters.com time to read: +3 min

LONDON, June 27 (Reuters) - Zambia's international bondholders expect to strike a debt restructuring deal with the country "in the coming weeks", a leading member said on Tuesday, a move that would draw a line under the nation's near three-year stint in default. "So I think we (bondholders) can now reach a deal in the coming weeks." Daly said that was something bondholders themselves had called for when restructuring talks became stalled last year over how much debt relief would be required. "The adjustment mechanism provides for an accelerated repayment schedule and higher interest rates if Zambia's debt carrying capacity improves from the current 'weak' classification to 'medium' classification," he said. While China has rejected writing off some of the debt altogether, bondholders could still do that, Daly added.

Persons: Hakainde, Kevin Daly, Daly, Situmbeko Musokotwane, Marc Jones, Chris Mfula, Libby George, Christina Fincher, Ed Osmond, William Maclean Organizations: International Monetary Fund, Zambian Finance, IMF, World Bank, Thomson Locations: China, Zambia, Sri Lanka, Ghana, Lusaka

☆ Gold prices edge higher as tepid dollar lifts appeal
▼ + stars: | 2023-06-26 | by ( ) www.cnbc.com time to read: +2 min

Gold prices edged higher on a weaker dollar, although bullion hovered close to three-month lows as traders assessed prospects that more interest rate hikes by the U.S. Federal Reserve were in the offing. Spot gold rose 0.2% to $1,925.78 per ounce by 0341 GMT. Bullion slumped nearly 2% in the previous week as hawkish comments from Fed officials suggested more rate hikes to bring down sticky inflation. Higher interest rates make non-yielding gold less appealing. San Francisco Fed Bank President Mary Daly said on Friday two more rate hikes this year are a "very reasonable" projection.

Persons: Bullion, Christopher Wong, Mary Daly, Wong Organizations: U.S . Federal, San Francisco Fed Bank, P Global Locations: Moscow, Russia

☆ Gold prices edge up on weaker dollar
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

June 26 (Reuters) - Gold prices edged higher in early Asian trade on Monday, helped by a weaker U.S. dollar, although chances of more interest rate hikes by the Federal Reserve this year to tame sticky inflation weighed on bullion's appeal. FUNDAMENTALS* Spot gold rose 0.3% to $1,926.29 per ounce by 0051 GMT. U.S. gold futures were up 0.3% at $1,936.10 per ounce* The dollar index was down 0.2%, making gold more attractive for buyers holding other currencies. * In his congressional testimony last week, Fed Chair Jerome Powell signalled more rate hikes ahead but vowed the central bank would proceed with caution. DATA/EVENTS (GMT)0500 Japan Leading Indicator Revised April0800 Germany Ifo Business Climate New June0800 Germany Ifo Current Conditions New June0800 Germany Ifo Expectations New JuneReporting by Seher Dareen in Bengaluru; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

Persons: Jerome Powell, Mary Daly, Masato Kanda, Seher, Subhranshu Sahu Organizations: Federal Reserve, Francisco Fed Bank, Thomson Locations: Japan, Germany, Bengaluru

☆ Wall Street ends down, snaps weekly winning streak on Fed worries
▼ + stars: | 2023-06-23 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

With few market-moving catalysts this week aside from Powell's congressional testimony, all three indexes notched weekly losses, ending a weeks-long rally. The Nasdaq snapped its eight-week winning streak, its longest since March 2019, while the S&P 500 (.SPX) broke its five-week rally, its longest since November 2021. The S&P 500 and the Nasdaq logged their biggest Friday-to-Friday percentage drops since early March, when the regional banking liquidity crisis hit. "You can probably count on a rate hike next month, but it's that second hike that the markets are skeptical of," Mayfield added. According to preliminary data, the S&P 500 (.SPX) lost 33.48 points, or 0.76%, to end at 4,348.41 points, while the Nasdaq Composite (.IXIC) lost 138.09 points, or 1.01%, to 13,492.52.

Persons: Jerome Powell's, Ross Mayfield, Mary Daly, Tom Barkin, Mayfield, Russell, Stephen Culp, Shubham Batra, Shristi, Richard Chang Organizations: YORK, Federal, Nasdaq, Baird, Francisco Fed Bank, Reuters, Atlanta Fed, Financial, Dow Jones, Carmax Inc, Starbucks Corp, Thomson Locations: Louisville , Kentucky, Bengaluru

Spot gold was up 0.8% to $1,927.90 per ounce by 10:25 a.m. EDT (1425 GMT), after dropping to a more than three-month low earlier in the session. Benchmark 10-year Treasury yields slipped to a 10-day low, reducing the opportunity cost of owning non-yielding gold. Spot silver rose 0.9% to $22.44 per ounce, but was set for its biggest weekly drop since October 2022. Platinum was down 0.3% to $920.38, on course for its worst week since August 2022. Palladium could extend this year's near 30% price decline as the rapid rise of electric vehicles threatens to hammer demand for the autocatalyst metal.

Persons: Edward Moya, Jerome Powell, Phillip Streible, Mary Daly, Barbara Lewis Organizations: Treasury, Federal Reserve, Blue, San Francisco Fed, Reuters, Palladium, Thomson Locations: U.S, Chicago, Bengaluru

☆ Oil dips on demand worries as more rate hikes likely
▼ + stars: | 2023-06-23 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +3 min

More U.S. interest rate hikes also seemed likelier. San Francisco Federal Reserve Bank President Mary Daly said two more rate hikes this year was a "very reasonable" projection. The Bank of England rate rise triggered fund liquidation and energy producers were moving to a "hedge now" mentality, Kissler added. Higher interest rates increase borrowing costs for businesses and consumers, which could slow economic growth and reduce oil demand. Risk-aversion among investors also boosted the value of the U.S. dollar, which pressures oil prices by making the commodity more expensive for other currency holders.

Persons: Brent, Mary Daly, Dennis Kissler, China's, Alex Lawler, Sudarshan, Philippa Fletcher, Kirsten Donovan, Louise Heavens, David Gregorio Our Organizations: Fed's Daly Bank of, HOUSTON, . West Texas, Bank of England, San Francisco Federal Reserve Bank, EU, BOK, The Bank of, U.S ., Thomson Locations: Norway, Switzerland, San, China, Saudi, OPEC

Last week Fed policymakers decided to hold the policy rate steady at the current 5%-5.25% range, interrupting what had been a string of 10 straight increases aimed at stomping inflation. The unemployment rate has crept up to 3.7% but is lower than the 4% rate Fed policymakers estimate is consistent with a fully employed American workforce on a sustainable basis. That's one more reason, she said, to slow down on rate hikes. "No wonder there's a couple of extra rate hikes," Daly said. Two more quarter-point rate hikes this year, Daly said, is "a very reasonable projection at this point," she said.

Persons: Florence Lo, Mary Daly, Daly, what's, Banks, I've, Ann Saphir, Dan Burns, Andrea Ricci Organizations: REUTERS, San Francisco Federal Reserve Bank, Reuters, Thomson

Her comments followed a hawkish stance by Fed Chair Jerome Powell in his two-day testimony before the Senate Banking Committee earlier this week. Markets calmed briefly and the S&P 500 (.SPX) and the Nasdaq (.IXIC) added some gains in the previous session after Powell said the Fed will proceed with caution. We've heard from the various Fed governors, Powell talk about higher interest rates," said Paul Nolte, senior wealth advisor and market strategist at Murphy & Sylvest. Yields on the 2-year, which best reflects interest rate expectations, dropped to hover at 4.71% on Friday. Investors will also monitor comments from some Fed policymakers due to speak later in the day.

Persons: Mary Daly, Jerome Powell, Powell, We're, We've, Paul Nolte, advancers, Shubham Batra, Shristi, Arun Koyyur Organizations: Starbucks, Dow, Nasdaq, Federal Reserve, San Francisco Fed Bank, Reuters, Committee, Murphy, Apple, Microsoft, Dow Jones, 3M, Carmax Inc, Starbucks Corp, NYSE, Thomson Locations: San, U.S, Bengaluru

☆ 'Hell of a job': Biden's reaction and 5 other takeaways from Blinken's trip to China
▼ + stars: | 2023-06-20 | by ( Sheila Chiang | ) www.cnbc.com time to read: +6 min

Leah Millis | Afp | Getty ImagesU.S. President Joe Biden said Secretary of State Antony Blinken "did a hell of a job" in Beijing. His comments came after Blinken's high-profile diplomatic mission to China, aimed at soothing strained ties with Beijing. In a surprise meeting, Blinken met Chinese President Xi Jinping for a 35-minute meeting toward the end of his two-day visit. He is the highest-level American official to visit China in nearly five years. Here are other takeaways from Blinken's trip to China:Progress madeBiden wasn't the only one who saw progress in the talks.

Persons: Antony Blinken, Xi Jinping, Leah Millis, Joe Biden, Biden, Blinken, Wang Yi, Qin Gang, Xi, Blinken's, Qin, Mark Hannah, Hannah, Bonnie Gasler, Gasler, Wang, Robert Daly, Wilson, Daly, Taiwan Blinken, CNBC's Organizations: of, People, Afp, Getty, Beijing, U.S, U.S . State Department, State Department, Eurasia Group Foundation, CNBC, German Marshall Fund, Tech, China, Institute, East China, Taiwan, Taiwan Relations Locations: Beijing, China, U.S, Bali, Washington, Taiwan, South, East

☆ U.S. and China haven't changed threat assessments of each other, says research organization
▼ + stars: | 2023-06-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. and China haven't changed threat assessments of each other, says research organizationRobert Daly, director of the Wilson Center's Kissinger Institute on China and the United States, says dialogue between the United States and China is "terrific," but there's no sign that the countries are changing their assessments of each other.

Persons: China haven't, Robert Daly, Wilson Organizations: U.S, Institute Locations: China, United States

☆ GOP burns for another culture war fight, pushing bills to 'save' gas stoves
▼ + stars: | 2023-06-14 | by ( Matthew Daly | Associated Press | ) www.businessinsider.com time to read: +6 min

The House GOP passed a bill to bar federal regulation of gas stoves. Some cities have banned new gas stoves over climate change and attempts to reduce energy use. The White House said the administration "has been clear that it does not support any attempt to ban the use of gas stoves,″ but GOP lawmakers say rules on gas stoves represent classic government overreach. New York state approved a law last month banning natural gas stoves and furnaces in most new buildings. The proposed Energy Department rule would save consumers up to $1.7 billion and cut down on emission that are dangerous to children's health, she added.

Persons: —, ″, Tom Cole, Joe Biden, Kevin McCarthy's, McCarthy, Cathy McMorris Rodgers, McMorris Rodgers, Mary Gay Scanlon, Scanlon Organizations: GOP, Service, Republican, Energy Department, Biden, Green, Democratic, Caucus, Consumer Product Safety, The Energy Department, House Energy, Commerce, DOE, embroil Locations: San Francisco, Berkeley , California, New York, United States, Washington

☆ Tyne Daly and Liev Schreiber to Lead Broadway ‘Doubt’ Revival
▼ + stars: | 2023-06-01 | by ( Michael Paulson | ) www.nytimes.com time to read: +1 min

Tyne Daly and Liev Schreiber will star in a revival of “Doubt: A Parable” on Broadway this season. The play, by John Patrick Shanley, is about a nun who suspects a priest has sexually abused a student at a Catholic school. (All Broadway theaters are planning to dim the lights of their marquees for one minute at 6:45 p.m. tonight in Haimes’s memory.) Daly, who will play the nun who serves as the school principal, and Schreiber, who will play the parish priest, are both Tony winners. “Doubt” will be one of three plays staged by Roundabout on Broadway this season.

Persons: Tyne Daly, Liev Schreiber, John Patrick Shanley, Scott Ellis, Todd Haimes, Daly, Schreiber, Tony, “ Cagney, Lacey, ”, ” Schreiber, “ Ray Donovan, Glengarry Glen, Theresa Rebeck, Danny DeVito, Lucy, Kenny Leon, Williams Organizations: Broadway, Roundabout Theater Company, American Airlines Theater Locations: Glengarry Glen Ross

☆ Former Fed Chair Bernanke argues economy must slow further to bring down inflation
▼ + stars: | 2023-05-23 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Inflation has cooled in the past several months, according to the Fed’s preferred inflation gauge and the Consumer Price Index, though some Fed officials have said that it’s not cooling fast enough. Indeed, the labor market remains on strong footing. “Overheating in the labor market has played a minor role but an increasing one over time. Overall inflation crept up throughout that year, then the Fed began to raise interest rates in March 2022 from near zero. Despite the failures of three regional banks since March, the Fed still raised interest rates two more times during that period.

Persons: Ben Bernanke, ” Bernanke, Olivier Blanchard, Blanchard, they’re, Mary Daly, ” Daly, isn’t Organizations: DC CNN, Former Federal, Fed, International Monetary Fund, Brookings Institution, Federal Reserve Bank of San Locations: Washington, Washington ,, Federal Reserve Bank of San Francisco

☆ Morning Bid: Tech politics, debt cap brinkmanship
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +5 min

Well-choreographed brinkmanship over the debt ceiling standoff looks set to go down to the wire, while technology firms have once again become a battleground in tense geopolitics. As AI-fueled U.S. technology stocks have led the way this year, the S&P (.SPX) has gained almost 10% this year and hit its highest level in nine months on Friday. Minneapolis Fed chief Neel Kashkari said on Sunday he could support holding rates steady at the next meeting. Futures markets see more than an 80% chance of a June pause and still price almost 50bp of cuts by yearend. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Meet the Pro Athlete Who Is Thrilled to Be in His 50s
▼ + stars: | 2023-05-17 | by ( Alan Blinder | ) www.nytimes.com time to read: +1 min

THE WOODLANDS, Texas — Just past a Dairy Queen near Houston last month, Steven Alker’s new status was aloft: His name and face were on a lamppost banner. Championship tee box as the man who surged from nearly-never-in-first to toast of the PGA Tour Champions, as the senior circuit is known. He is not exactly the betting favorite, not in a field largely headlined by men in their 20s and 30s. He knows he may not even make the cut and finish the tournament, where a victory would make Alker, 51, the oldest major champion in history. But Alker has been defying the clock that has often been the etiology of agony for professional athletes.

☆ The butterfly effect: How the birth of another golfer’s child led John Daly to an astonishing victory at 1991 PGA Championship
▼ + stars: | 2023-05-17 | by ( Jack Bantock | ) edition.cnn.com time to read: +10 min

His name is John Daly, and he is about to win the 1991 PGA Championship. The caller was Nick Price, a well-known player on the PGA Tour with three wins under his belt. Daly during the first round of the 2022 PGA Championship at Southern Hills Country Club in Tulsa. Yet to win on the PGA Tour, there will be little expectation on the world No. 117 to change that fact on his PGA Championship debut on Thursday.

☆ AMERICAS Debt cap tick-tock leaves eerie calm
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: +4 min

The issue dominated much of the G7 finance chiefs meeting in Japan. Dimon claimed any technical default could cause financial panic and JPMorgan had convened a 'war room' internally to deal with the issue. "It's very unfortunate, it's time-consuming, hopefully it won't happen, but it affects contracts, collateral, clearing houses, clients," Dimon said. Chinese stocks underperformed, with the G7 meeting mulling restrictions on investment to the world's second-biggest economy. Bank of England chief economist Huw Pill speaksReuters GraphicsJobless claimsReuters GraphicsReuters GraphicsBy Mike Dolan, editing by Christina Fincher, <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>.

☆ Tee-k Tock: The ‘appalling’ slow play controversy riling golf’s biggest stars
▼ + stars: | 2023-05-04 | by ( Jack Bantock | ) edition.cnn.com time to read: +14 min

Koepka, whose frustrations with slow play lit the touchpaper of a fiery feud with rival Bryson DeChambeau in 2019, made no secret of his grievances. It does become frustrating when you are waiting so long.”1-on-1 with newly minted PGA Tour winner Matt Fitzpatrick 03:48 - Source: CNNFurther complaints came from beyond the confines of the PGA Tour. I was penalized on LPGA for slow play … and it forced me to speed up,” Alvarez said. “It’s not very pleasant to watch somebody stand over the ball for half an hour.”Nicklaus is not a fan of slow play. “We want to keep the focus where it should be: on world-class shot-making.”Solutions: Golf’s shot clock eraSo how do you solve a problem like slow play?

☆ Turner's late goal earns Man United WSL win over Villa
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +1 min

United stay top on 47 points after 19 games of the 22-game season, six ahead of second-placed Manchester City and seven ahead of Chelsea, but the Blues have three games in hand over the leaders. It was a tough defeat for Villa, for whom striker Rachel Daly opened the scoring in the ninth minute with a brilliantly-timed looping header from a corner, but Leah Galton's first-time finish brought United back level six minutes later. The 31-year-old Daly put her side in front again eight minutes before the break, netting her 17th goal of the season to draw level with WSL top scorer Khadija Shaw of Manchester City. She almost completed her hat-trick on the hour mark but her left-foot shot clipped the crossbar, and instead United drew level as Nikita Parris headed home Hannah Blundell's cross. Reporting by Philip O'Connor Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

☆ Fed report on SVB collapse faults bank's managers — and central bank regulators
▼ + stars: | 2023-04-28 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

Central bank officials likely will turn their attention to cultural changes, noting that risks at SVB were not thoroughly examined. Future changes could see standardized liquidity requirements to a broader range of banks, and tighter supervision of compensation for bank managers. "[T]he combination of social media, a highly networked and concentrated depositor base, and technology may have fundamentally changed the speed of bank runs,' he said in the report. "Social media enabled depositors to instantly spread concerns about a bank run, and technology enabled immediate withdrawals of funding." Fed Chairman Jerome Powell said he welcomed the Barr probe and its internal criticism of Fed actions during the crisis.

☆ UK housebuilder Taylor Wimpey sees improving buyer confidence
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

April 27 (Reuters) - British housebuilder Taylor Wimpey Plc (TW.L) said on Thursday buyer interest has risen over the past few months, helped by an improvement in sales and mortgage rates, even as the group remained cautious over broader economic woes. Daly, however, said the company remained cautious over continued macroeconomic uncertainty. Taylor Wimpey said its total order book value - a key measure that gauges near-term demand - stood at about 2.38 billion pounds ($2.97 billion) in the reported period, up from 2.15 billion pounds seen in the first two months of the year. Taylor Wimpey's bigger rival Persimmon (PSN.L) said on Wednesday trading over recent weeks had offered some signs of encouragement, with cancellation levels normalising and sales rates steadily improving since the start of the year. ($1 = 0.8019 pounds)Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ Man City go second in WSL after 6-2 thumping of West Ham
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +2 min

MANCHESTER, England, April 23 (Reuters) - Manchester City winger Chloe Kelly scored two goals in a minute and Khadija Shaw netted her 17th of the season as they beat West Ham United 6-2 to move above Chelsea and into second spot in the FA Women's Super League on Sunday. City made the most of Chelsea and Arsenal both playing in the Champions League semi-finals this weekend to move up to 41 points, three behind leaders Manchester United and one ahead of the Blues. With 17 of their 22 league games played, Arsenal are fourth on 38 points with a game in hand over the two Manchester clubs, while Chelsea have two games in hand over the top two. Kelly set the tone with two quick goals before WSL top scorer Shaw netted in the second half and defender Steph Houghton scored on her birthday as the Hammers were outclassed in the rain in Manchester. Reporting by Philip O'Connor Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

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