Author: Press Room

House Speaker Mike Johnson, R-La., indicated he’s not budging from his position on pairing Ukraine aid and border security reforms even after meeting with President Volodymyr Zelenskyy on Tuesday.He also lambasted the White House, accusing the Biden administration of failing to provide a clear strategy on U.S. involvement with Ukraine.”I have asked the White House since the day that I was handed the gavel as speaker for clarity. We need a clear articulation of the strategy to allow Ukraine to win. And thus far their responses have been insufficient,” Johnson told reporters after the meeting.PROGRAMMING ALERT: TUNE IN TO FOX…

Sam Bankman-Fried’s defense seemed like an uphill climb from the start. Even his lawyer agrees.David Mills told Bloomberg the FTX cofounder’s case was “almost impossible to win.””He may be at the very top of the list as the worst person I’ve ever seen do a cross examination,” Mills added. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Sam Bankman-Fried’s attorneys sure had their work cut out for them, and one of them is saying so loud and clear.Stanford Law School professor David Mills represented the…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The success of the Barbie and Transformers movies this summer set high hopes for toymakers. But it turns out, kids would rather watch movies about toys than actually play with them. Hasbro, home to Play-Doh, Monopoly and Transformers action figures, this week said it will cut about 1,100 jobs, on top of 800 lay-offs that have already taken place this year. Combined, this would represent a 29 per cent decrease in the company’s global workforce. The move is expected to generate $100mn in…

© Reuters. FILE PHOTO: Argentina’s Minister of Economy Luis Caputo speaks to the press, one day after the inauguration of Argentina’s President Javier Milei, in Buenos Aires, Argentina, December 11, 2023. REUTERS/Agustin Marcarian/File Photo By Jorge Otaola and Walter Bianchi BUENOS AIRES (Reuters) -Argentina’s foreign exchange and grains markets were locked down on Tuesday as traders waited for the new government’s economic “shock” plan aimed at fixing the worst crisis in decades with triple-digit inflation and depleted reserves. Economy Minister Luis Caputo will announce the measures after markets close around 5 p.m. (2000 GMT), the spokesperson for libertarian President Javier…

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Alexander Farnsworth The Walmart stock (NYSE:WMT) should work in a better macro backdrop since it has a great discretionary exposure and emerging accelerating earnings algorithm, which should drive EPS up, according to Goldman Sachs’ Americas Retail report for 2024. Goldman analysts recommend the stock for investing in next year. Consumer spending trends look positive in 2024, according to recent data, but GS analysts wrote that investors are “still heavily debating how strong the consumer can look next year, which we think will drive good appetite for both defensive and discretionary names.” According to the report, deflation will be “both a…

President Biden will meet at the White House on Wednesday with the families of Americans taken hostage by Hamas during the Oct. 7 attacks in Israel, his first face-to-face meeting with the relatives since the crisis began.A White House official confirmed the meeting, but did not offer details about how many of the family members would be attending the meeting in person. The president previously spoke with the families on a video call about a week after the attacks.At the time, he called the conversation “gut-wrenching” and later described the family members as “going through agony, not knowing what the…

The liquid assets of US Households has surged to an “unprecedented” $18 trillion, Bank of America said.Household liquid assets, which includes cash deposits, has surged a remarkable $5 trillion in 2020.”Increased savings and household wealth adds further reinforcement to consumer resilience,” Bank of America said.Our Chart of the day is data highlighted by Bank of America and illustrated by YCharts, and it helps show just how resilient the US consumer really is.American households hold just under $18 trillion in liquid assets, which includes cash deposits, representing an astounding increase from the $10 trillion level in 2013. Consumers added $5 trillion…

The US has hit companies in Turkey, the UAE and China with a fresh round of sanctions as part of efforts to stop Russia obtaining sensitive technologies for its war in Ukraine.Kyiv’s allies have grown increasingly concerned about Russia using these countries either as sources or conduits for high-end electronics and high-precision goods that it is unable to produce domestically. The latest US package is timed to coincide with Ukrainian president Volodymyr Zelenskyy’s visit to Washington this week, a show of support for Kyiv even amid political roadblocks that have raised doubts about future military aid.The sanctions attack both military…

© Reuters. FILE PHOTO: A representations of cryptocurrencies in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/Illustration/File Photo By Tom Wilson and Poppy McPherson (Reuters) – The United States has seized digital currency worth about half a million dollars from an account registered to a Chinese man who featured in a Reuters investigation into crypto-investment fraud run from Southeast Asia. U.S. authorities said the scam that prompted the seizure involved a crypto-investment fraud known as pig butchering. In such schemes, fraudsters manipulate unsuspecting people they meet online, persuading them to invest in bogus crypto schemes. The U.S. Secret Service seized…