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☆ Trump endorses Jim Jordan for House speaker, testing the strength of his power
▼ + stars: | 2023-10-06 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Trump has endorsed Rep. Jim Jordan of Ohio to be the next Speaker of the House. AdvertisementAdvertisementFormer President Donald Trump, early on Friday morning, endorsed Republican Rep. Jim Jordan of Ohio to be the next Speaker of the House, testing his ability to bring calm to Congress after a week of chaos. Trump's endorsement will likely upend the campaign to replace former House Speaker Kevin McCarthy, who was unceremoniously ousted earlier this week. Right now, the race is largely between Jordan, the chairman of the House Judiciary Committee, and House Majority Leader Steve Scalise. AdvertisementAdvertisementIn Jordan, Trump is backing a staunch conservative fighter.

Persons: Trump, Jim Jordan of, Jordan, Steve Scalise, —, Donald Trump, Jim Jordan, Kevin McCarthy, Joe Biden, Jordan's, Jim, Biden, Hunter, McCarthy Organizations: Service, Republican, Congressional, Committee, Republicans, Ohio State, Ohio Republican, GOP Locations: Jim Jordan of Ohio, Washington, DC, East Coast, Jordan, stoke, Benghazi, Ukraine

☆ Stocks making the biggest moves midday: Pioneer Natural Resources, MGM Resorts, Levi Strauss and more
▼ + stars: | 2023-10-06 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Levi Strauss — Shares slid 0.8% after the denim apparel maker cut its full-year sales forecast. Late Thursday, Levi posted fiscal third-quarter revenue that missed expectations, and it cut its full-year sales guidance again. MGM Resorts — The resort and casino operator rose 4.9% after offering an update on a cybersecurity issue experienced last month. Liberty Media Formula One — Shares of the motorsports stock advanced 3.6% following an upgrade to buy from neutral by Citi. Frontdoor — The home repair company's shares climbed 4.4% on the back of a Truist upgrade to buy from hold.

Persons: Tesla, Levi Strauss —, Levi, Aehr, FactSet, Truist, — CNBC's Pia Singh, Yun Li, Michelle Fox, Samantha Subin Organizations: Resources, Street Journal, Exxon Mobil, Exxon, stoke, MGM Resorts, MGM, CNBC, Securities and Exchange Commission, Philips —, U.S . Food, Drug Administration, Philips, FDA, Pharmaceuticals, JPMorgan, Jefferies, Liberty Media, Citi, Las Vegas, UBS, AES Locations: Virginia, U.S

☆ Tesla cuts Model 3 and Model Y prices in the U.S. after car deliveries fall
▼ + stars: | 2023-10-06 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Tesla's Model Y Performance sports utility vehicle now starts at $52,490, down from a previous price of $54,490. The starting price for the Model 3 is listed at $38,990 on Tesla's website, down from $40,240 previously. Tesla cut the price of some Model 3 and Model Y versions in the U.S. after the company reported third-quarter deliveries that missed market expectations. Tesla regularly tinkers with the price of its cars, especially in its biggest markets of the U.S. and China. But the latest round of price cuts comes just days after Tesla reported third-quarter deliveries of 435,059 vehicles, missing analyst expectations and marking a decline from the previous quarter.

Persons: Tesla, Elon Musk Organizations: stoke Locations: U.S, China

☆ Bond yields could hit 6% as the Fed is going to keep hiking rates until something breaks, research firm says
▼ + stars: | 2023-10-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Key bond yields are likely headed to 6% as the Fed will keep hiking interest rates, TS Lombard said. That's due to recent robust economic data, which could influence the Fed to take interest rates higher. Higher rates risk sparking a recession, especially considering interest rates are already higher than Fed officials think, Blitz said. Markets have panicked in recent weeks as investors try to adjust to a higher-for-longer interest rate environment. Yields on the 10-year US Treasury just rose to their highest level since 2007, briefly touching 4.8% on Friday.

Persons: Lombard, —, Steven Blitz Organizations: stoke, Treasury, Service, Federal Reserve, Lombard, Investors, —

☆ Stocks will be significantly higher by year-end, and high bond yields and inflation aren't as bad as they seem, Fundstrat says
▼ + stars: | 2023-10-05 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Stocks are still on track to end the year "significantly higher," Fundstrat's Tom Lee said. By year-end, I expect markets to be at a significantly higher level," Lee said in a video to Fundstrat clients on Wednesday. He pointed to higher bond yields and still-high inflation, which have worried investors and helped stoke a recent sell-off in equities. Lower inflation spells good news for the economy and for stocks, as it could nudge the Fed to dial back high interest rates. Central bankers raised interest rates aggressively over the past year and a half to cool off inflation, which weighed heavily on equities last year.

Persons: Stocks, Tom Lee, Lee, —, there's, Brent Organizations: Service, stoke Locations: Greece, Germany

☆ Lucid launches cheaper Air Pure electric sedan to boost demand
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

A Lucid Air electric vehicle is displayed at a shopping mall in Scottsdale, Arizona, U.S., September 27, 2021. REUTERS/Hyunjoo Jin/File Photo Acquire Licensing RightsOct 5 (Reuters) - Luxury electric-vehicle maker Lucid Group (LCID.O) on Thursday launched a cheaper, rear-wheel drive version of the Air Pure sedan starting at $77,400, as it looks to stoke demand. The new Lucid model, however, is more expensive than the world's most valuable automaker Tesla's (TSLA.O) Model S luxury sedan, which starts at about $75,000. The cheaper electric sedan will offer a range of 410 miles on a full charge and will be available immediately, Lucid said. The EV maker opened its first overseas production factory last month in Saudi Arabia and the Saudi government has agreed to buy up to 100,000 Lucid vehicles over the next decade.

Persons: Hyunjoo Jin, Tesla, Lucid, Akash Sriram, Arun Koyyur Organizations: REUTERS, Air, stoke, Sapphire, Saudi Arabia's Public Investment Fund, Saudi, Thomson Locations: Scottsdale , Arizona, U.S, Saudi Arabia, Newark , California, Bengaluru

☆ Washington reusable rocket startup Stoke Space raises $100 million
▼ + stars: | 2023-10-05 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Washington-based startup Stoke Space raised $100 million in new funds, the company announced Thursday, as it aims to develop a fully reusable rocket called "Nova." Stoke's latest investment round was led by Industrious Ventures – with the firm's Steve Angel, chairman of chemicals giant Linde , joining the Stoke board of directors. While a number of U.S. companies are aiming to develop reusable rockets to compete with the success of Elon Musk's SpaceX, Stoke is taking a different approach from its rivals. Stoke is developing Nova to be a "medium" class rocket that can deliver 5,000 kilograms to low Earth orbit. That puts Nova in the middle of the launch market, between Rocket Lab's "light" Electron and SpaceX's "heavy" Falcon 9 in terms of capability.

Persons: Steve Angel, fundraise, Bill Gates, Andy Lapsa, Elon, Lapsa, Nova Organizations: Stoke Space, Linde, Stoke, University of Michigan, Sparta Group, Breakthrough Energy, Point72 Ventures, MaC Ventures, Toyota Ventures, CNBC, SpaceX Locations: Washington, Stoke

☆ Opinion: Washington’s turmoil plays right into Putin’s hands
▼ + stars: | 2023-10-05 | by ( Sheena Mckenzie | Opinion Frida Ghitis | ) edition.cnn.com time to read: +7 min

In the meantime, a top NATO official warned that the arsenal for supporting Ukraine is running low. Europeans, contrary to the claims of demagogues running for president, are spending heavily to support Ukraine. Their meeting erupted in a round of applause for the Russian president, with delegates shouting “Putin! He voted against four of five bills supporting Ukraine as it sought to defend itself from a Russian invasion, which is now in its 20th month. Asked if Ukraine would be able to fight without US military support, 37-year-old Olha said, “Of course, we will fight — but it will be many times bloodier.”

Persons: Frida Ghitis, you’ve, Kevin McCarthy, McCarthy, Olha Hrubryna, she’s, ”, “, ” Volodymyr Kostiak, MAGA, Robert Fico, Rob Bauer of, Vladimir Putin, Dmitry Peskov, Putin, Donald Trump –, Josep Borrell, Joe Biden, Paul Krugman, Krugman, Trump, “ Putin, Oksana Markarova, Steve Scalise, Jim Jordan, firebrand Trump, he’s, Olha Organizations: CNN, Washington Post, Politics, Republican, Frida Ghitis CNN, House Democrats, Ukraine, Capitol, NATO, European Union, Pro, Royal Dutch Navy, Soviet Union, European, Republican Party, New York Times, Political, firebrand, GOP Locations: Ukraine, Washington, Kyiv, Ukrainian, Slovakia, Russian, China, Russia, United States, –, Europe

☆ Lucid's shares fall after company launches a cheaper version of the Air EV to boost demand
▼ + stars: | 2023-10-05 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +1 min

Shares of Lucid Group were lower in early trading Thursday after the company launched a cheaper version of its Air electric luxury sedan in a bid to stoke demand. Lucid said it will now offer a single-motor, rear-wheel-drive version of its Air Pure sedan starting at $77,400 with 410 miles of range. That's $5,000 lower than its previous lowest-cost model, the dual-motor all-wheel-drive version of the Air Pure, which is still available. The new single-motor Air Pure is available for order immediately, Lucid said. The new rear-wheel-drive version of the Air Pure is the first Lucid offering to start below $80,000.

Persons: Lucid, Lucid's Organizations: Group, stoke, Air, EV, Tesla Locations: Wednesday's, U.S

☆ Did Biden and McCarthy strike a secret Ukraine side deal? Republicans and Democrats stoke suspicion after Ukraine funding was cut from spending bill
▼ + stars: | 2023-10-04 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Lawmakers this week were buzzing about a secret Ukraine side deal between Biden and Kevin McCarthy. Billions of dollars in funding for Ukraine were left out of a last-minute spending bill. But any deal the two struck was likely rendered moot after McCarthy was ousted from his speaker role Tuesday. "We just made one about Ukraine," Biden said. But without additional funding, the Pentagon has only a few months of funding left to maintain current spending rates in Ukraine, Kirby said.

Persons: Biden, Kevin McCarthy, McCarthy, —, Matt Gaetz, Sen, Michael Bennet, we'll, Karine Jean, Pierre, John Kirby, Kirby, Putin Organizations: Ukraine, Service, Republicans, Democrats, California Republican, Republican, Colorado Democrat, CBS News, National Security, DC, Pentagon Locations: Ukraine, Washington ,, Florida, Colorado, Russia

☆ Contested statues must stay but with explanations, says Britain
▼ + stars: | 2023-10-04 | by ( Estelle Shirbon | ) www.reuters.com time to read: +3 min

Then prime minister Boris Johnson and other ministers denounced this as censorship of history while activists and some public figures said the glorification of such figures in public spaces had to end. The culture ministry's new guidance said custodians of contested statues and monuments should comply with the government's policy to "retain and explain". The guidance, which applies to structures in public spaces but not inside museums, said explanations could include alternative media and creative approaches, not just texts. The Conservatives say they are fighting a far-left agenda that seeks to denigrate Britain and its history. The controversies echoed debates in other countries, notably the United States where historic statues honouring leaders of Confederate States from the Civil War era have also been contested and removed.

Persons: Cecil Rhodes, George Floyd, Eddie Keogh, Boris Johnson, Lucy Frazer, Edward Colston, Robert Milligan, Estelle Shirbon, Gareth Jones Organizations: Oriel College, REUTERS, Conservative, Labour Party, Conservatives, Thomson Locations: Minneapolis, Oxford, Britain, Bristol, stoke, London, United States, Confederate

☆ Canadian dollar hits 6-month low as bond yields soar
▼ + stars: | 2023-10-03 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. "It's been dragged around with higher U.S. yields, that's for sure," said Amo Sahota, director at Klarity FX in San Francisco. "The U.S. dollar has been on an 11-week run to the upside, so that's not necessarily helping the loonie." Vincent's comments helped underpin Canadian bond yields, Sahota said, adding that the market is "still gunning for another rate hike" from the Canadian central bank. Canadian government bond yields surged across the curve, playing catch-up with moves in U.S. Treasuries after the Canadian market was closed on Monday.

Persons: Mark Blinch, It's, Amo Sahota, Nicolas Vincent said, Vincent's, Sahota, gunning, Fergal Smith, Richard Chang Organizations: REUTERS, greenback, Canadian, U.S, Bank of Canada, FX, BoC, Treasuries, Thomson Locations: Toronto, TORONTO, San Francisco, U.S, Canadian

☆ Diamond prices are down but shoppers shouldn't expect cheaper jewelry this holiday season
▼ + stars: | 2023-10-01 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +3 min

According to the Zimnisky Global Rough Diamond Index, prices are the lowest they’ve been in a year. Shopper demand for diamond jewelry influences rough diamond prices and, to an extent, retail prices. The plummeting prices follow two record-breaking years in rough diamond sales. But a drop in rough diamond prices does not mean shoppers will see cheaper price tags in stores. “The stock market is performing relatively well and employment is strong,” he said, paving the way for a gradual recovery of rough diamond prices in 2024.

Persons: ”, Paul Zimnisky, “, Edahn Golan, ” Zimnisky, David Johnson, De Beers, Zimnisky Organizations: CNN, Industry, Retailers, De Locations: Retailers stoke, Golan, United States

GUIDONIA MONTECELIO, Italy (AP) — Rory McIlroy lost his match at the Ryder Cup. That incident prompted another angry exchange involving McIlroy as he left the Marco Simone club. McIlroy was seen to be visibly furious outside the clubhouse as Jim “Bones” Mackay, the caddie for Justin Thomas, attempted to intervene. European captain Luke Donald said McIlroy “politely asked Joe to move aside.” McIlroy still had a putt for birdie to tie the match, which he wound up missing. McIlroy goes out in the fourth match, straight after Cantlay against Justin Rose.

Persons: GUIDONIA MONTECELIO, — Rory McIlroy, McIlroy, Patrick Cantlay ’, Joe LaCava, Marco Simone, Jim “, ” Mackay, Justin Thomas, Shane Lowry, Zach Johnson, LaCava “, ” McIlroy, LaCava —, —, Luke Donald, McIlroy “, Joe, Rory, ” Donald, Donald, ”, Johnson, “ I’m, it’s, ” Johnson, ” Cantlay, Wyndham Clark, Matt Fitzpatrick, Sam Burns, Justin Rose, ___ Organizations: Ryder, Whistling, U.S ., Sky Sports, “ Locations: Italy, Whistling Straits, Cantlay

☆ Newcastle dump Man City out of EFL Cup and draw Man Utd
▼ + stars: | 2023-09-27 | by ( Alan Baldwin | ) www.reuters.com time to read: +4 min

"It was a game of two halves for us," said Newcastle manager Eddie Howe, who brought on Bruno Guimaraes and Anthony Gordon after the interval. It was the third year in a row that City, winners four times in a row from 2018 to 2021, had gone out of the competition early. "We played an incredible game," City manager Pep Guardiola told Sky Sports television. LIVERPOOL THROUGHManchester United beat Crystal Palace , also their league opponents next weekend, 3-0 at Old Trafford on Tuesday. Blackburn Rovers thrashed Championship rivals Cardiff City 5-2 in the highest scoring match of the night and are at Chelsea next.

Persons: Alexander Isak, Isak slotting, Phil Foden, Erling Haaland, Nick Pope, Julian Alvarez, Eddie Howe, Bruno Guimaraes, Anthony Gordon, Pep Guardiola, Sean Dyche's, Cody Gakpo, Kasey McAteer's, Dominik Szoboszlai, Diogo Jota, Juergen Klopp, Alex Iwobi, Aaron Ramsdale, David Raya, Reiss Nelson, Alan Baldwin, Toby Davis Organizations: Newcastle, Man, St James, Park Magpies, Manchester United, Liverpool, Leicester, Brentford Chelsea, Everton, Fulham, Newcastle United, Manchester, League, City, Sheffield United, Sky Sports, Southampton, LIVERPOOL, Crystal, Old, ., Brighton & Hove Albion, Chelsea, Aston Villa, Brentford, Arsenal, Burnley, Leicester City, Anfield, Premier League rivals Bournemouth, Stoke City, Norwich City, Ipswich Town, Ipswich Town . West Ham United, Lincoln City, Gunners, Community, Blackburn Rovers, Cardiff City, Thomson Locations: West Ham, LONDON, Manchester City, Swedish, Joelinton, Newcastle, Old Trafford, Nigeria, Ipswich Town ., Lincoln, London

Hong Kong/Taipei CNN —China and the European Union have agreed to exchange information on export controls as part of efforts to dial down tension over trade imbalances and geopolitical issues. I am glad that we made progress in addressing some market access issues,” Valdis Dombrovskis said in a statement. Hours before meeting He on Monday, Dombrovskis said China’s trade practices have forced the European Union to become more assertive in its dealings with the world’s second largest economy. China recently slapped export curbs on two semiconductor materials in a warning shot to Europe and the United States, after they imposed restrictions on China’s access to advanced chipmaking equipment. Moscow has become increasingly dependent on Beijing since its full-scale invasion of Ukraine in 2022, with trade between Russia and China soaring this year.

Persons: rebalancing, ” Valdis Dombrovskis, Dombrovskis, ”, ” Jorge Toledo, it’s, ” Dombrovskis, — Laura Organizations: Taipei CNN —, European Union, European Commission, EU, Union, Tsinghua University, China, Reuters Locations: China, Hong Kong, Taipei, Taipei CNN — China, Beijing, ”, EU, Europe, United States, Ukraine, Moscow, Russia

☆ Inflation will be a rollercoaster ride as the US economy navigates 2 'unprecedented' shocks, BlackRock says
▼ + stars: | 2023-09-26 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Inflation is bound for a resurgence in 2024, BlackRock strategists warned in a recent note. Strategists previously warned of a "full-employment recession" to hit the economy. AdvertisementAdvertisementInflation is bound to whipsaw next year as the US deals with two seismic shifts shaking the economy, according to BlackRock. But that downtrend is likely to end soon, the strategists warned. That outcome is part of a new regime of volatility markets are facing, the asset manager said, which involves higher interest rates, higher inflation, and sharp volatility.

Persons: —, That's, stokes Organizations: BlackRock, Service, stoke, New York Fed Locations: whipsaw, BlackRock

☆ Russia Tells Armenian PM: You Are Making a Big Mistake by Flirting With West
▼ + stars: | 2023-09-25 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

"We are convinced that the Yerevan leadership is making a massive mistake by deliberately trying to destroy Armenia's multi-faceted and centuries-old ties with Russia while making the country hostage to the geopolitical games of the West," it said. Pashinyan's remarks about transforming alliances indicate that he is preparing to pivot away from Armenia's alliance with Moscow towards the West, the Russian foreign ministry said. Moscow denied suggestions that it had any hand in protests in Yerevan and cautioned Pashinyan that while Russia did not stoke revolutions, the West did. "The head of the Armenian government should be well aware that Moscow does not get involved in such things - unlike the West which is pretty adept at organizing 'colour revolutions'," Russia said. Russia blames the United States for stoking so-called colour revolutions in several post-Soviet republics including Ukraine.

Persons: Guy Faulconbridge MOSCOW, Nikol Pashinyan, Pashinyan, Guy Faulconbridge, Gareth Jones Organizations: Armenian, Karabakh, Reuters Locations: Russia, Nagorno, Karabakh, Moscow, Baku, Armenia, Yerevan, Azerbaijan, Russian, United States, Ukraine

Armenian Prime Minister Nikol Pashinyan gives a televised address to the nation in Yerevan, Armenia, in this picture released September 24, 2023. "We are convinced that the Yerevan leadership is making a massive mistake by deliberately trying to destroy Armenia's multi-faceted and centuries-old ties with Russia while making the country hostage to the geopolitical games of the West," it said. Moscow denied suggestions that it had any hand in protests in Yerevan and cautioned Pashinyan that while Russia did not stoke revolutions, the West did. "The head of the Armenian government should be well aware that Moscow does not get involved in such things - unlike the West which is pretty adept at organizing 'colour revolutions'," Russia said. Russia blames the United States for stoking so-called colour revolutions in several post-Soviet republics including Ukraine.

Persons: Nikol Pashinyan, Pashinyan, Guy Faulconbridge, Gareth Jones Organizations: Armenian, REUTERS, Rights, Karabakh, Reuters, Thomson Locations: Yerevan, Armenia, Handout, Russia, Nagorno, Karabakh, Moscow, Baku, Azerbaijan, Russian, United States, Ukraine

☆ EU trade chief promises more 'assertive' approach to China as deficit soars
▼ + stars: | 2023-09-25 | by ( Laura He | ) edition.cnn.com time to read: +4 min

And we will be more assertive in tackling unfairness.”The trade chief’s visit comes as tensions flare between the bloc and China over trade imbalances and geopolitical issues. The bloc’s trade deficit with China hit 396 billion euros ($421 billion) last year, which was “the highest in the history of mankind,” Jorge Toledo, the EU ambassador to China, was quoted by Reuters as saying. Dombrovskis said China’s new foreign relations law and its newly broadened counter-espionage law, in particular, were of “great concern” to European business. Two months later, it unveiled a sweeping foreign relations law enshrining its right to impose “countermeasures” against actions that it deems a threat. Russia has become increasingly dependent on China since the Kremlin ordered the full-scale invasion of Ukraine in February 2022.

Persons: Hong Kong CNN —, Valdis Dombrovskis, “, ” Dombrovskis, ” Jorge Toledo, Dombrovskis, ”, enshrining, Vladimir Putin, — Lucas Liliholm, Manveena Suri Organizations: Hong Kong CNN, Union, Tsinghua University, EU, China, Reuters, European Union, West, EU Chamber of Commerce, Kremlin Locations: China, Hong Kong, Beijing, Europe, EU, United States, Ukraine, Russia

☆ Philippines Removes Chinese Barrier at Disputed Shoal in 'Special Operation'
▼ + stars: | 2023-09-25 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +4 min

By Enrico Dela CruzMANILA (Reuters) -The Philippines said on Monday it executed a "special operation" to remove a floating barrier installed by China at a prime fishing patch in the South China Sea, a move that could stoke tension after a years-long detente in Asia's most disputed waters. Hours after the national security adviser had vowed to take action, the Philippine coastguard said it had removed the floating cordon, at the behest of President Ferdinand Marcos Jr and his special task force on the South China Sea. Japan's government urged calm and said the South China Sea was central to regional stability. "Our country strongly opposes any conduct that heightens tension in the South China Sea," Japanese Chief Cabinet Secretary Hirokazu Matsuno said at a regular press conference. China on Monday said the shoal, which it calls Huangyan Island, was "China's inherent territory", over which it had indisputable sovereignty.

Persons: Enrico Dela Cruz, Ferdinand Marcos Jr, Rodrigo Duterte, Hirokazu Matsuno, Huangyan, Wang Wenbin, Enrico dela Cruz, Liz Lee, Kiyoshi Takenaka, Kanupriya Kapoor, Martin Petty, Alex Richardson Organizations: stoke, coastguard, Philippine coastguard, Philippine, China, South China, Chinese coastguard Locations: Philippines, China, South China, Asia's, Scarborough, Philippine, Manila, Washington, Beijing, British, South, Hague, Tokyo

☆ America's $1 trillion credit card bill really isn't as bad as it seems
▼ + stars: | 2023-09-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

US credit card debt hit $1 trillion for the first time ever this year. And with those considerations, the hefty credit card balance in the US actually isn't much of a problem. According to Michele Raneri, the vice president of financial services research at Transunion, credit card utilization has stayed around 22%. Already, the delinquency rate on loans issued in 2023 is lower than the delinquency rate on loans issued in 2021 and 2022. That suggests credit card delinquencies will soon peak around the fourth quarter of this year before declining, he estimated.

Persons: That's, Mark Zandi, They've, Zandi, Michele Raneri, they've, Raneri, Gen Zers, Gen Z, LendingTree, Wells Fargo Organizations: Economists, Service, San Francisco Fed, stoke, of Labor Statistics Locations: Wall, Silicon

☆ Explainer: Why are 120,000 people about to move from Nagorno-Karabakh?
▼ + stars: | 2023-09-24 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Irakli Gedenidze/File Photo Acquire Licensing RightsMOSCOW, Sept 24 (Reuters) - The 120,000 ethnic Armenians of Nagorno-Karabakh will leave for Armenia as they do not want to live as part of Azerbaijan and fear ethnic cleansing, the leadership of the breakaway region told Reuters on Sunday. As the Soviet Union crumbled, what is known as the First Karabakh War erupted (1988-1994) between Armenians and their Azerbaijan. If 120,000 people go down the Lachin corridor to Armenia, the small South Caucasian country could face a humanitarian crisis. It was not immediately clear where 120,000 people could be housed in Armenia, whose population is just 2.8 million, ahead of winter. Many Armenians blame Pashinyan, who lost a 2020 war to Azerbaijan over Karabakh, for losing Karabakh.

Persons: Irakli, David Babayan, Samvel Shahramanyan, Babayan, Nikol Pashinyan, Pashinyan, Ilham Aliyev, Armenia's Pashinyan, Guy Faulconbridge, Bernadette Baum Organizations: REUTERS, Rights, Reuters, Russian, Armenian, International Committee, Karabakh, stoke, NATO, Thomson Locations: Armenia, Azerbaijan, Nagorno, Karabakh, Kornidzor, Republic of Artsakh, Soviet Union, AZERBAIJAN, South Caucasus, Russia, United States, Turkey, Iran, Moscow, Yerevan, Russian

☆ Armenian PM blames Russia for failing to ensure security
▼ + stars: | 2023-09-24 | by ( ) www.reuters.com time to read: +3 min

Armenian Prime Minister Nikol Pashinyan gives a televised address to citizens on the national independence day, in Yerevan, Armenia, in this picture released September 21, 2023. The Office to the Prime Minister of the Republic of Armenia/Handout via REUTERS Acquire Licensing RightsMOSCOW, Sept 24 (Reuters) - Armenia's Prime Minister Nikol Pashinyan said on Sunday the likelihood was rising that ethnic Armenians would flee the breakaway region of Nagorno-Karabakh and blamed Russia for failing to ensure Armenian security. He added that the Armenian-Russian strategic partnership was "not enough to ensure the external security of Armenia". Last week, Azerbaijan scored a victory over ethnic Armenians who have controlled the Karabakh region since the dissolution of the Soviet Union. An adviser to the leader of the Karabakh Armenians told Reuters earlier on Sunday that the population would leave because they feel unsafe under Azerbaijani rule.

Persons: Nikol Pashinyan, Pashinyan, Guy Faulconbridge, Peter Graff Organizations: Armenian, REUTERS Acquire, Rights, Armenia's, Reuters, stoke, Thomson Locations: Yerevan, Armenia, Republic of Armenia, Handout, Nagorno, Karabakh, Russia, Azerbaijan, Russian, Soviet Union, Moscow, Turkey, Iran, Georgia

In short, Russia’s children are being prepared for war. Education Minister Sergei Kravtsov said recently that there are now about 10,000 so-called “military-patriotic” clubs in Russian schools and colleges, and a quarter-of-a-million people take part in their work. There are mandatory classes on military-patriotic values; updated history books accentuate Russian military triumphs. President Putin has personally led the campaign to inject patriotism into Russia’s schools. That message - hammered home by the president and state media - is now being taken into Russia’s schools.

Persons: Sergei Kravtsov, Vladimir Putin, ’, ”, ” Putin, Ukraine “, Putin, “, Vyacheslav Gladkov, Uliana Shumelova, schooler, Sergei Shoigu, Shoigu, Daria, Vladimir, Ukraine –, Buryatia, She’d, It’s Organizations: CNN, Education, Security, Defense, Education Ministry, Novosti, RIA Novosti, Russia, Kremlin, Educational, Ministry of Defense, Air Defense, United, ”, Northern Military District, Military Sports Games, Defense Ministry, Armed Forces Russian Federation Locations: Pacific, Ukraine, Moscow, Russian, Russia, Crimea, Ukrainian, stoke, Belgorod, Krasnodar, Vologda, Sakhalin, Russia’s Far, Yeysk, Azov, Astrakhan, United Russia, Vladivostok, Voronezh, Ussuriysk, Buryatia, Chita trumpeted, Orenburg, Polish, Perm, State

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