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☆ U.S. military shoots down suspected Chinese surveillance balloon
▼ + stars: | 2023-02-04 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

The U.S. military on Saturday shot down a suspected Chinese surveillance balloon that had been transiting across the country for several days, according to NBC News. Department of Defense officials have not yet confirmed the balloon being shot down. Defense officials said the Pentagon considered shooting down the balloon earlier this week but decided against it after briefing Biden. Biden concluded that the U.S. would not shoot down the balloon because debris from it could cause damage on the ground, a Pentagon official said. A senior Pentagon official told reporters Thursday night that the object was clearly a surveillance balloon that was flying over sensitive sites to collect intelligence.

☆ A suspected Chinese spy balloon was seen operating near a US nuclear base housing 150 Minuteman ICBMs
▼ + stars: | 2023-02-03 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

The US is tracking a suspected Chinese spy balloon, which has been hovering over Montana. Montana Senator Steve Daines said he feared it was targeting the state's nuclear missile base. Montana is home to the sprawling Malmstrom Air Force Base, which stores nuclear weapons. Malmstrom Air Force Base is one of three such bases in the US to contain Minuteman III intercontinental ballistic missiles, a strategic nuclear weapon. Malmstrom maintains 150 intercontinental ballistic missile silos across its 13,800-square-mile complex, according to The Telegraph.

"The public certainly has the ability to look up in the sky and see where the balloon is," Ryder said. Senator Roger Marshall from Kansas said the spy balloon was over the northeastern part of his state and his staff was is in contact with law enforcement officials. President Biden must protect the sovereignty of the U.S.," Marshall posted on Twitter. Chinese spy satellites carry similar sensors to what U.S. officials believe is on the spy balloon, raising questions about why Beijing would risk such a brazen act on the eve of a major diplomatic event. Still, the Chinese spy balloon has taken a flight path that would carry it over a number of sensitive sites, officials say.

☆ Trump and other Republicans call for the US 'to shoot down' a suspected Chinese spy balloon
▼ + stars: | 2023-02-03 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Trump called for the US to "SHOOT DOWN THE BALLOON" as a suspect Chinese spy craft floats above the US. Other Republicans took a slightly more measured approach, arguing that it was "a mistake" not to have shot down the suspected spy balloon but not necessarily saying that it should be done now. Bloomberg reported that Defense Secretary Lloyd Austin advised President Joe Biden not to order the shoot down the balloon due to the risk of falling debris. "It was a mistake to not shoot down that Chinese spy balloon when it was over a sparsely populated area," Rubio wrote on Twitter. "Shoot down the balloon.

☆ China might have sent a spy balloon over the US as a power play to prove it can do what it wants, experts say
▼ + stars: | 2023-02-03 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +6 min

A Chinese spy balloon was detected over the US, the Department of Defense said. Experts say spy balloons can do things satellites can't, and China may have wanted to get caught. The balloon, the Pentagon said, was "most certainly" sent by China to spy on the US. What is the Chinese spy balloon? A spy balloon is a balloon with any kind of surveillance equipment is attached.

☆ Spy balloon witness thought it might have been a star or UFO
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

Feb 3 (Reuters) - Chase Doak was getting ready to leave work when he spotted what he thought might have been a star or even a UFO. It turned out to be a spy balloon floating high over the United States and his images have been seen around the world. The Pentagon reported on Thursday that a spy balloon it suspected is Chinese had been flying over the country for a couple of days. But it was just a run-of-the mill Chinese spy balloon!" China has itself often complained about surveillance by the United States, including its deployment of ships or planes near Chinese military exercises.

☆ China admits the 'spy balloon' over the US belongs to it, but insists it wasn't for spying and ended up there by accident
▼ + stars: | 2023-02-03 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +2 min

The US is tracking what it termed a Chinese spy balloon, which has been hovering over Montana. On Friday, China confirmed the balloon belonged to it but said it was not being used for spying. In an official statement, China's foreign ministry said the balloon is a civilian airship used mainly for "meteorological research." "Clearly, the intent of the balloon is first surveillance, and so the current flight path does carry it over a number of sensitive sites," the official said. This has alarmed some officials, including Montana Senator Steve Daines, who said the fact the balloon was occupying Montana airspace "creates significant concern."

WASHINGTON/BEIJING, Feb 3 (Reuters) - U.S. Secretary of State Antony Blinken has postponed a visit to China that had been expected to start on Friday after a Chinese spy balloon was tracked flying across the United States, a U.S. official said. China earlier expressed regret that what it called a "civilian" airship had strayed into U.S. territory after being blown off course, an incident that sparked a political furor in the United States. Republican Senator Tom Cotton had called for Blinken to cancel his trip, while Republican former President Donald Trump, a declared presidential candidate for 2024, posted "SHOOT DOWN THE BALLOON!" It said it would continue to communicate with the United States to "properly handle" the unexpected situation. Senator Marco Rubio, the top Republican on the Senate intelligence committee, said the spy balloon was alarming but not surprising.

☆ China tells U.S. to remain 'cool-headed' over suspected spy balloon
▼ + stars: | 2023-02-03 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

watch nowBeijing urged Washington to remain "cool-headed" Friday, as it investigates reports that a suspected Chinese-operated spy balloon has been hovering over sensitive U.S. airspace. Spotted over MontanaFootage of what appears to be a high-altitude balloon was captured by an eyewitness over Billings, Montana, on Wednesday. A senior defense official said the balloon is still over the U.S. but declined to say where it is now. A senior defense official said authorities are continuing to monitor the balloon closely and will take "all necessary steps" to protect against foreign intelligence collection of sensitive information. The balloon does not pose a threat to civil aviation because of its altitude, the official added.

"The United States government has detected and is tracking a high-altitude surveillance balloon that is over the continental United States right now," Pentagon spokesperson Brigadier General Patrick Ryder told reporters. It was not clear how the discovery of the spy balloon might affect those plans. Senator Marco Rubio, the top Republican on the Senate intelligence committee, said the spy balloon was alarming but not surprising. A separate U.S. official said the spy balloon had been tracked near the Aleutian Islands and Canada before entering the United States. Spy balloons have flown over the United States several times in recent years, but this balloon appeared to be lingering longer than in previous instances, an official said.

☆ US scrambles F-22s following reports of unidentified flying object over Montana believed to be a Chinese spy balloon
▼ + stars: | 2023-02-02 | by ( Charles R. Davis | Christopher Woody | ) www.businessinsider.com time to read: +4 min

The US is tracking a suspected Chinese spy balloon first spotted over Montana, per NBC News. The balloon has been hovering over the US "for the past few days," NBC reported Thursday. Video published by an NBC affiliate in Billings, Montana, shows a bright, unidentified object in the sky, which prompted flights to be diverted from the local airport on Wednesday. "It is not the first time that you've had a balloon of this nature cross over the continental United States," the official said. After the balloon was spotted, the US military responded by scrambling F-22 Raptors and other aircraft near Billings, prompting the civilian airport to be shuttered for some time.

☆ Suspected Chinese spy balloon found over northern U.S.
▼ + stars: | 2023-02-02 | by ( Courtney Kube | Carol E. Lee | ) www.cnbc.com time to read: +5 min

The Pentagon would not confirm that the balloon in the photo was the surveillance balloon. The U.S. military has been monitoring a suspected Chinese surveillance balloon that has been hovering over the northern U.S. for the past few days, and military and defense leaders have discussed shooting it out of the sky, according to two U.S. officials and a senior defense official. "The United States government has detected and is tracking a high-altitude surveillance balloon that is over the continental United States right now," Pentagon spokesperson Brig. A senior defense official said the balloon is still over the U.S. but declined to say where it is now. Pentagon leaders presented the options to President Joe Biden on Wednesday.

☆ Private Medicare Plans Face Tough New Audits That Could Cost Billions
▼ + stars: | 2023-01-31 | by ( Anna Wilde Mathews | ) www.wsj.com time to read: 1 min

The new rule could prompt Medicare to seek to recover billions of dollars in alleged overpayments from insurers. Federal health regulators said they would implement a tough new standard for auditing the billings of insurers that offer private Medicare plans, the latest sign of stepped-up scrutiny of the companies. Yet the new rule, set to be issued Monday by Medicare’s parent agency, doesn’t go as far as it could have in applying the standard to earlier years.

☆ You Call That Snow?! See How This Winter Stacks Up.
▼ + stars: | 2023-01-26 | by ( Francesca Paris | ) www.nytimes.com time to read: +7 min

If so, you’re not alone: It has been a dreary winter for children hoping for snow days and grown-up snow enthusiasts alike on the East Coast. More than 50 years of snowfall in … Interactive line chart showing cumulative snowfall for each winter season over 50 years, as well as the median snowfall for all seasons. Line chart showing Philadelphia’s cumulative snowfall for each winter season over 50 years. Loading dataLine chart showing Boston’s cumulative snowfall for each winter season over 50 years. Milwaukee Pittsburgh Providence, R.I. Pueblo, Colo. Richmond, Va. Rockford, Ill. St. Louis Topeka, Kan. About normal snow Anchorage Boise, Idaho Colorado Springs Columbia, Mo.

☆ Small-town nursing homes closing amid staffing crunch
▼ + stars: | 2023-01-22 | by ( Tony Leys | Kaiser Health News | ) www.nbcnews.com time to read: +10 min

In Iowa, 13 of the 15 nursing homes that closed in 2022 were in rural areas, according to the Iowa Health Care Association. “We’ve had more nursing homes go bankrupt in the last year than in the last 10 years combined,” she said. Nationally, the Centers for Medicare & Medicaid Services reported recently that 129 nursing homes had closed in 2022. In Iowa, Medicaid pays nursing homes about $215 per day per resident, according to the Iowa Health Care Association. Willett said a recent survey found that 72% of Iowa’s remaining nursing homes were freezing or limiting admissions below their capacity.

☆ RBC gives its top picks for 2023, including a surprising automaker
▼ + stars: | 2023-01-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

In that note, RBC shared its quarterly refresh of its top 30 "high-conviction, long-term ideas," which includes global names with an outperform rating by RBC analysts. Recovery in individual portfolios may be slow-moving, but RBC's top picks have a track record of beating the global market. The firm's price target on Ferrari implies about 32% upside. Cybersecurity stock Palo Alto Networks has the highest potential return of the group, with a price target of $233. The firm has a $165 price target on the stock, nearly 60% greater than Tuesday's closing price.

☆ Growth constraints to shackle industrial metals for a few more months
▼ + stars: | 2022-12-30 | by ( Pratima Desai | ) www.reuters.com time to read: +3 min

Nickel and tin have slumped 50% and 70% respectively. Spiralling inflation, COVID lockdowns in top consumer China and aggressive interest rate rises are behind economic weakness and dwindling demand growth for industrial metals such as copper, used in the power and construction industries. However, BoA noted that metals prices had already fallen significantly and that they would outperform energy in the first half of next year. For soldering material tin, a major theme is consumer belt tightening, which has hit demand for electronic goods. "Slowing (tin) demand is perhaps best illustrated by global semiconductor billings, which had retraced 18% by September, since reaching an all-time high in February," Macquarie analysts said in a note.

☆ ‘Call Me Miss Cleo’ Review: How to Sell a Scam
▼ + stars: | 2022-12-14 | by ( John Anderson | ) www.wsj.com time to read: +1 min

You don’t Venmo money to Nigerian princes. You don’t answer phone calls with an 876 Jamaica area code. You don’t give your Social Security number to anyone who claims your car warranty is running out. Miss Cleo was the public face of the company. But according to this HBO doc, not one of the culprits.

John J. Ray, chief executive officer of FTX Cryptocurrency Derivatives Exchange, arrives to a House Financial Services Committee hearing investigating the collapse of FTX in Washington, DC, on Tuesday, Dec. 13, 2022. Instead, like bankers and lawyers who are working on the bankruptcy proceedings, the new leadership team is professional independent contractors. That means, among other things, that they get paid immediately, before any FTX investors receive recompense for their losses. According to court filings, the new FTX CEO will collect $1,300 hourly plus "reasonable expenses" for his work untangling what U.S. Attorney Damian Williams called "one of the biggest frauds in American history" in a news conference Tuesday. In one bankruptcy case Ray worked on, he billed around 156 hours in a two-month period, netting him $120,582, so his billings for FTX may run higher or lower.

☆ Stocks making the biggest moves midday: Netflix, Lululemon, DocuSign and more
▼ + stars: | 2022-12-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves midday:Lululemon — Shares of Lululemon fell 12% after the athletic apparel company gave a weaker-than-expected fourth-quarter outlook. Broadcom — Broadcom gained 3.1% after giving an upbeat revenue forecast and reporting better-than-expected quarterly results after the bell Thursday. Netflix — Netflix gained 5% after being named a "best idea" for 2023 by Cowen and being upgraded by Wells Fargo to overweight from equal weight. DocuSign — Shares of DocuSign jumped 16% after the electronic signature company posted upbeat quarterly results. Bath & Body Works — Shares of Bath & Body Works gained rose 2.1% after activist investor Dan Loeb boosted his stake in the retailer.

☆ Wall Street says a recession is coming. One investment pro names her favorite stocks to tough it out
▼ + stars: | 2022-12-09 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Tengler, who's been a proponent of dividend growth strategies for more than three decades, named four stocks she owns. Her firm uses what's known as a relative dividend yield strategy to judge the value of a stock. A high relative dividend yield is a buy signal if the dividend level is expected to be sustained and increased over time. Goldman also fits into one of Tengler's top investment themes: old economy stocks that are embracing digital transformation. Two asset managers face off Another old economy stock that Tengler likes is California-based self-storage firm Public Storage .

☆ Stocks making the biggest moves premarket: Lululemon, Costco, Broadcom and others
▼ + stars: | 2022-12-09 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Broadcom (AVGO) – Broadcom shares rallied 3.6% in premarket action after the chip maker reported better-than-expected quarterly results and an upbeat outlook. Netflix (NFLX) – Netflix gained 3% in the premarket following two positive analyst reports. DocuSign (DOCU) – DocuSign posted an 11.3% premarket jump following upbeat quarterly results for the electronic signature technology company. The move cuts Walgreens' stake to about 17% from 20% and will give Walgreens funds to pay down debt and fund strategic priorities. RH (RH) – The company formerly known as Restoration Hardware beat top and bottom line estimates in its latest quarterly report.

☆ Crypto meltdown a boon for bankruptcy lawyers
▼ + stars: | 2022-12-02 | by ( Andrew Goudsward | ) www.reuters.com time to read: +5 min

“You’ve got to pay the gravedigger,” said Adam Levitin, a law professor at Georgetown University who specializes in bankruptcy law. Law firm billing rates are normally not public, but in bankruptcy cases lawyers for the debtor company must detail their billings and request a judge's approval for their fees. The lawyers are paid from the assets of a bankruptcy estate, and experts said judges rarely demand significant reductions in professional fees. Lawyers in the crypto cases must deal with a host of issues new to bankruptcy law, including whether digital assets deposited on a platform are owned by the customer or the platform itself, according to bankruptcy law experts. Levitin, a former member of the restructuring department at law firm Weil, Gotshal, & Manges, said such complex questions call for top-shelf lawyers.

☆ Western US residents warned against traveling as a winter storm is expected to bring feet of snow
▼ + stars: | 2022-12-01 | by ( Allison Chinchar | ) edition.cnn.com time to read: +4 min

The snow and rain should begin to taper off Friday for most areas before the next storm system arrives late Saturday into early Sunday. While nearly 3 feet of snow could fall in California, 1 to 2 feet of widespread snow is expected across the Rockies in places like Montana, Utah and the mountains in Colorado. This would be a significant and fairly rare snow for Seattle, a city that averages as much snow a year (3.8 inches) as Little Rock, Arkansas. Salt Lake City will also see a few inches in the city proper up where 2 to 5 inches is forecast. Back-to-back winter storms will bring periods of very difficult to impossible travel over Sierra passes through Sunday.

☆ Lisbon and Mexico City are on travelers’ wish lists for 2023: These are the top 10 trending vacation destinations
▼ + stars: | 2022-11-27 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

According to American Express Travel, 70% of respondents say they want to travel to wish-list destinations in 2023, and 50% are already planning summer vacations for next year. In November, American Express Travel published its 2023 Trending Destinations list . It was compiled using the number of global American Express Card Member travel reservations made between 2019 to 2022. The Florida Keys, known for its beautiful beaches, comprises five areas: Key West, the Lower Keys, Marathon, Islamorada, and Key Largo. The most famous of these is Key West.

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