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Crime June 14, 2022 / 7:02 AM / CBS/AP Mexico villages arm kids to fight cartels Armed kids shine light on Mexico's drug cartel violence 06:40 Mexican soldiers found a total of 50 meth labs in the first two weeks of June, Mexico's army said Monday. The small labs were mainly located in low woods around the state of Sinaloa, home to the cartel of the same name.The army said in a statement that in just three days, June 10-12, troops found 19 labs in Sinaloa.The soldiers seized almost a thousand drums or plastic containers with chemicals. They also found a total of 32 52-gallon chemical reaction chambers, or cookers, used to produce methamphetamine. Mexican cartels export tons of extremely pure meth to the United States each year, sometimes in liquid form. Last week, U.S. officials seized 371.74 pounds of methamphetamine at the U.S.-Mexico border.In April, President Andres Manuel Lopez Obrador confirmed that Mexico had dissolved a special unit trained by U.S. authorities to fight drug cartels because it had been infiltrated by criminals.  Mexican Army experts walk inside a clandestine laboratory of crystal meth near La Rumorosa town in Tecate, Baja California state, Mexico on August 28, 2018. GUILLERMO ARIAS/AFP via Getty Images Thieves steal 20 containers loaded with partly refined gold and silver oreThieves broke into a freight storage area at the Pacific coast seaport of Manzanillo and stole 20 freight containers loaded with partly refined gold and silver ore and television sets, the Mexican Employers Federation said Monday. José Medina Mora, president of the federation, said the large-scale robbery was a sign of rising crime in Mexico."There is a growing lack of safety, and this is a sign of what is happening in the country and it requires that authorities take action," Medina Mora said.The state of Colima, where Manzanillo is, has not officially commented on the June 5 robbery.But Horacio Duarte, the head of Mexico's customs service, confirmed the robbery and said organized crime was involved. "This was a very serious organized crime operation," Duarte said.According to local press reports, about 10 armed thieves forced their way into a private freight dispatch yard near the port, subdued employees and then took several hours to search for the shipping containers they wanted.The thieves then apparently hooked up the containers to trucks and drove way with them. No sign of the containers, or their contents, has been seen since.Freight theft is a serious problem in Mexico, but it usually involves thieves hijacking one truck at a time on highways - not driving off with 20 freight containers.Articles like television sets are usually quickly sold off in the country's extensive black markets, but it was unclear where thieves could sell tons of partly processed gold or silver ore. Any refiner would be likely to ask questions about where it came from.Prosecutors and police in Colima have had a more pressing problem on their hands, with residents blocking roads to protest kidnapping and killing of local people. Two police officers have also been shot to death so far this month in the state, which has been dominated by the powerful Jalisco drug cartel.Last month, Mexican authorities captured a suspected leader of the powerful cartel. The Department of Justice considers the Jalisco cartel to be "one of the five most dangerous transnational criminal organizations in the world."    In: Mexico Cartel Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Mexican soldiers uncover 50 meth labs in first two weeks of June.

Financial jobs may often be lucrative — but some of them could make you seem boring and even incompetent to the people around you, according to a new study.Researchers from the University of Essex in Colchester, England, asked more than 500 people across five different experiments about the careers and hobbies they considered the most "boring" — and what characteristics they associated with people who did those jobs. The study was published in the Personality and Social Psychology Bulletin earlier this month.Finance was overwhelmingly tagged as the world's most boring industry, with finance-associated positions occupying four of the top five slots on the "most boring" list. The people occupying those "boring" jobs were also not seen as competent, according to the report, which surprised at least one of the study's authors."I would have thought that accountants would be seen as boring, but effective and the perfect person to do a good job on your tax return," Wijnand Van Tilburg, a study co-author and senior lecturer in the university's psychology department, said in a statement last week.Tilburg said that stereotypically "boring people" are generally disliked, and often avoided by the people around them — largely due to unfair preconceived notions.Your perceptions of people can certainly change over time, but folks dubbed as "boring" don't often get a chance to prove the stereotypes wrong, Tilburg said. "The very fact that people choose to avoid them can lead to social ostracization and increase loneliness, leading to a really negative impact on their lives," he said.Tilburg said he launched the study to explore stigmas around boredom, and how it can impact the way humans perceive each other: "The irony is studying boredom is actually very interesting and has many real-life impacts."Here are the results of the study, including top-five lists for most boring jobs, most exciting jobs and most boring hobbies:Top 5 most boring jobsData analysisAccountingTax/insurance workCleaningBankingTop 5 most exciting jobsPerforming artsScienceJournalismHealth professionalTeachingTop 5 most boring hobbiesSleepingReligionWatching televisionObserving animalsMathSome of those "boring" jobs do tend to pay more than some of the "most exciting" ones. According to compensation software and data company Payscale, the average salary for a data analyst is around $62,754 per year. That's approximately $10,000 per year more than the average salary of someone in performing arts — roughly $52,522, according to Glassdoor.And while "sleeping" ranked as the single most boring hobby anyone could have, getting regular amounts of high-quality sleep is essential to your productivity, health and mental sharpness, according to research.Don't miss:Want to be more charismatic? Ask yourself this simple question, researchers suggestHolding an early-career managerial position can lead to better heart health, according to epidemiology

These are the 5 most 'boring' — and exciting — jobs in the world, according to a recent study.

Shari Yost Gold, Senior advisor at InvariantSource: Shari Yost GoldShari Yost Gold, a former advisor to Vice President Kamala Harris, is joining the lobbying and communications firm led by veteran lobbyist Heather Podesta.Yost Gold will be working as a senior advisor in communications and public affairs at Podesta's firm Invariant, the two said in a joint interview. Yost Gold will be guiding corporate leaders on how to respond to key policy decisions coming out of Washington D.C.The move to bring in Yost Gold, who has experience working with politicians and business leaders, comes as corporations have come under pressure to respond to a variety of controversial policy decisions, including new voting laws, gun safety measures and the pending Supreme Court ruling on Roe v. Wade."These are not one off issues and one of the things we are doing with our clients is helping them develop processes to authentically address these issues," said Podesta, Invariant's CEO. Podesta noted that Invariant's strategic communications offering is relatively new as they are in their third year of existence. Podesta is the ex-wife of former Democratic strategist Tony Podesta.Yost Gold worked with Harris through many of her campaigns, including her recent 2020 run for president when she dropped out of the race and later became President Joe Biden's running mate. She also was a strategist for billionaire Mike Bloomberg's 2020 campaign for president. She previously was a senior advisor at MikeWorldWide, a public relations firm run by longtime Democratic fundraiser Mike Kempner.Podesta would not say which clients of Invariant's will be part of Yost Gold's portfolio. Data from OpenSecrets shows Invariant has grown to rank sixth this year among all the 20 top U.S. lobbying shops. Invariant so far this year has brought in over $9 million in revenue, with current clients including the Business Roundtable, SpaceX, DraftKings, American Express and Apple.

Former advisor to Vice President Kamala Harris joins Heather Podesta's lobbying firm.

SummaryJacobabad in Pakistan hits 51 Celsius (124 Fahrenheit)Women especially vulnerable to extreme heat - studiesPregnant women at even higher risk, scientists warnWIDER IMAGE photo essay:JACOBABAD, Pakistan, June 14 (Reuters) - Heavily pregnant Sonari toils under the burning sun in fields dotted with bright yellow melons in Jacobabad, which last month became the hottest city on Earth.Her 17-year-old neighbour Waderi, who gave birth a few weeks ago, is back working in temperatures that can exceed 50 Celsius (122 Fahrenheit), with her newborn lying on a blanket in the shade nearby so she can feed him when he cries."When the heat is coming and we're pregnant, we feel stressed," said Sonari, who is in her mid-20s.Register now for FREE unlimited access to Reuters.comThese women in southern Pakistan and millions like them around the world are at the searing edge of climate change.Pregnant women exposed to heat for prolonged periods of time have a higher risk of suffering complications, an analysis of 70 studies conducted since the mid-1990s on the issue found.For every 1 degree Celsius in temperature rise, the number of stillbirths and premature deliveries increases by about 5%, according to the meta-analysis, which was carried out by several research institutions globally and published in the British Medical Journal in September 2020.Cecilia Sorensen, director of the Global Consortium on Climate and Health Education at Columbia University, said the unfolding impact of global warming on the health of women was "highly underdocumented", partly because extreme heat tended to exacerbate other conditions."We're not associating health impacts on women and often times it's because we're not collecting data on it," she said. "And often women in poverty are not seeking medical care.""Heat is a super big deal for pregnant women."Women are especially vulnerable to rising temperatures in poor countries on the frontlines of climate change because many have little choice but to work through their pregnancies and soon after giving birth, according to interviews with more than a dozen female residents in the Jacobabad area as well as half a dozen development and human rights experts.Further adding to the risks, women in socially conservative Pakistan - and many other places - typically cook the family meals over hot stoves or open fires, often in cramped rooms with no ventilation or cooling."If you're inside cooking next to a hot open fire you have that burden of that heat in addition to the ambient heat which makes things that much more dangerous," Sorensen added.EXTREME HUMID HEAT EVENTSSouth Asia has suffered unseasonably hot temperatures in recent months. An extreme heatwave that scorched Pakistan and India in April was 30 times more likely to happen due to climate change, according to scientists at World Weather Attribution, an international research collaboration. Global temperatures have risen by about 1.2 degrees Celsius above pre-industrial levels. read more As temperatures continue rising, extreme heatwaves are only expected to increase.Jacobabad's roughly 200,000 residents are well aware of their reputation as one of the world's hottest cities."If we go to hell, we'll take a blanket," is a common joke told in the area.Few places are more punishing. Last month, temperatures hit 51 Celsius (124 Fahrenheit) on May 14, which local meteorological officials was highly unusual for that time of year. Tropical rains can also conspire with warm winds from the Arabian Sea to drive up humidity later in the year.The more humid it is, the harder it is for people to cool down via sweating. Such conditions are measured by "wet bulb temperatures," taken by a thermometer wrapped in a wet cloth. Wet bulb temperatures of 35C or higher are considered the limit to human survival.Jacobabad has crossed that threshold at least twice since 2010, according to regional weather data. And, globally, such "extreme humid heat events" have more than doubled in frequency in the last four decades, according to a May 2020 study in the journal Science.Sonari, who is in her 20s, and Waderi work alongside about a dozen other women, several of them pregnant, in the melon fields about 10 km from Jacobabad's centre.They begin work each day at 6 a.m. with a short afternoon break for housework and cooking before returning to the field to work until sundown. They describe leg pains, fainting episodes and discomfort while breastfeeding."It feels like no one sees them, no one cares about them," aid worker Liza Khan said more broadly about the plight facing many women in Jacobabad and the wider Sindh region which straddles the border of Pakistan and India.Razia, 25, and her six-month-old daughter Tamanna, sit in front of a fan to cool off during a heatwave, in Jacobabad, Pakistan, May 15, 2022. Last month Jacobabad became the hottest city on Earth. Women are especially vulnerable to rising temperatures in poor countries on the frontlines of climate change because many have little choice but to work through their pregnancies and soon after giving birth, according to interviews with more than a dozen female residents in the Jacobabad area as well as half a dozen development and human rights experts. REUTERS/Akhtar Soomro Khan's phone rings constantly as she drives to one of three heatstroke response centres she has helped set up in recent weeks as part of her work with a non-profit group called the Community Development Foundation.With a finance degree, Khan has lived in cooler cities across Pakistan but returned to her hometown because she wanted to be a voice for women in the conservative area."Nowadays I'm working 24/7," said the 22-year-old, adding that her organization was finding the impact of extreme heat increasingly intertwining with other social and health issues affecting women.GRAPHIC-Scorching South Asia: https://tmsnrt.rs/3MGhxINTHE FRONTLINES OF SUFFERINGThe harsh conditions facing many women were brought into tragic focus on May 14, the day temperatures in Jacobabad hit 51 C, making it the world's hottest city at that time.Nazia, a young mother of five, was preparing lunch for her visiting cousins. But with no air conditioning or fan in her kitchen, she collapsed and was taken to a nearby hospital, where she was pronounced dead from a suspected heat strokeDistrict health officials did not answer requests for comment about Jacobabad's record of heat-related deaths in recent years, or more specifically about Nazia's case.Her body was taken the following day to her ancestral village to be buried and her children, the youngest a one-year old who was still breastfeeding, regularly cry for their mother, a relative said.Widespread poverty and frequent power cuts mean many people can't afford or use air conditioning or at times even a fan to cool down.Potential strategies recommended by experts include providing clean-energy stoves to replace open-fire cooking, offering women's medical and social services during early morning or evening hours when it is cooler and replacing tin roofs with cooler material in white to reflect solar radiation away from the home.Climate Change Minister Sherry Rehman told Reuters that women were likely bear the brunt of rising temperatures as they continued to scorch the country, adding that climate change policies in the future needed to address the specific needs of women."A megatrend like climate change ... poses a significant threat to the well-being of unempowered women in rural areas and urban slums," she added. "Pakistani women, especially on the margins, will be impacted the most."Some in Jacobabad find it galling that Pakistan is responsible for just a fraction of the greenhouse gases released in the industrial era and now warming the atmosphere."We are not contributing to the worsening, but we are on the frontlines as far as suffering is concerned," said Hafeez Siyal, the city's deputy commissioner.NO WATER, NO POWER, WE PRAYIn a residential neighbourhood of the city, a donkey-drawn cart stacked with blue plastic jerrycans stops near the entrance to warren-like lanes leading to a cluster of homes. The cart's driver runs back and forth delivering 20-litre containers of water from one of a few dozen private pumps around the city.Most residents of Jacobabad rely on such water deliveries, which can cost between a fifth and an eighth of a household's meagre income. Still, it's often not enough, and some families are forced to ration.For young mother Razia, the sound of her six-month-old Tamanna crying in the afternoon heat was enough to persuade her to pour some of her precious water over the baby. She then sat Tamanna in front of a fan, and the child was visibly calmer, playing with her mother's scarf.Local officials said water shortages were partly due to electricity cuts, which mean water cannot be filtered and sent via pipes throughout the city. There are also severe water shortages across Sindh, with climate change minister Rehman flagging shortfalls of up to 60% of what is needed in the province's key dams and canals.Rubina, Razia's neighbour, fried onions and okra over an open fire, explaining she usually felt dizzy in the heat and tried to soak herself in water each time she cooked to prevent herself from fainting.There was not always enough water to do so, though."Most of the time, it ends before it's time to buy more and we must wait," Rubina said as she closely supervised her children and grandchildren sharing a cup of water. "On the hot days with no water, no electricity we wake up and the only thing we do is pray to God."($1 = 197.6000 Pakistani rupees)Register now for FREE unlimited access to Reuters.comCharlotte Greenfield reported from Jacobabad and Gloria Dickie from London; Editing by Mike Collett-White, Katy Daigle and Pravin CharOur Standards: The Thomson Reuters Trust Principles.

In hottest city on Earth, mothers bear brunt of climate change.

Harold Hamm of Continental Resources is pictured during a rig tour in the state of Oklahoma, U.S. October 12, 2010. Courtesy of Continental Resources/Handout via REUTERS/File PhotoRegister now for FREE unlimited access to Reuters.comJune 14 (Reuters) - Shale producer Continental Resources Inc (CLR.N) said on Tuesday it has received an all-cash buyout proposal from billionaire-founder Harold Hamm's family trust, which valued the company at $25.41 billion.Hamm, a legendary oilman who once called the Organization of the Petroleum Exporting Countries a "toothless tiger", is offering $70 per share for around 17% stake in the company that his family does not own.The offer represents a nearly 9% premium over Continental's closing price on Monday, but is below a near eight-year high of $73.53 that Continental's shares had traded in the previous week.Register now for FREE unlimited access to Reuters.comHamm founded Continental as Shelly Dean Oil Company in 1967, and ran it as a private company until 2007. He now owns about 83% of its outstanding common shares along with his family members.In a letter to employees detailing his go-private offer, Hamm lamented that the public markets have not supported the oil and gas industry and limited its growth, especially since the coronavirus pandemic."We have determined that the opportunity today is with private companies who have the freedom to operate and are not limited by public markets," Hamm said in the letter.Continental's shares rose 7.3% to $69.20 in premarket trading following the offer, which comes as the company expands into the Permian basin, the heart of U.S. shale, amid a surge in oil prices after Russia's invasion of Ukraine.Prices have hit triple digits as the conflict disrupted supply chain at a time when fuel demand is rising on a rebound in global travel, revitalizing the shale industry's prospects.Continental said it would form a special committee of independent directors to consider Hamm's proposal.If the proposal is rejected, the Hamm family will continue as long-term shareholders and would not push for any strategic options, according to Hamm's offer letter.Register now for FREE unlimited access to Reuters.comReporting by Arunima Kumar and Shariq Khan in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Founder Harold Hamm offers to take Continental private in $25-bln deal.

Your go-to password might be easier to guess than you think.That's according to a new report from mobile security firm Lookout, which recently published a list of the 20 passwords most commonly found in leaked account information on the dark web. The list ranges from simple number and letter sequences like "123456" and "Qwerty" to easily typed phrases like "Iloveyou."Choosing easy-to-remember passwords is understandable: The average person has more than 100 different online accounts requiring passwords, according to online password manager NordPass. But simple passwords can be extremely easy for hackers to figure out, allowing them stress-free access to your personal data and accounts.It's a timely concern. Cybersecurity experts say the current Russian-Ukrainian conflict could result in an uptick in cyberattacks around the world, with U.S. banks expressing concern this week that they could be targeted. That's on top of a record number of data breaches in the U.S. last year – 1,862, up 68% from 2020 – according to a January report from the nonprofit Identity Theft Resource Center.Lookout, which makes cloud security apps for mobile devices, noted in a December blog post that, on average, 80% of consumers have had their emails leaked onto the dark web. You could easily be among that majority without even knowing it.Those leaked emails often lead hackers directly to your passwords for other online accounts and identity theft, Lookout said. Here's the company's list of the 20 passwords most commonly found on the dark web, due to data breaches:123456123456789QwertyPassword12345123456781111111234567123123Qwerty1231q2w3e1234567890DEFAULT0Abc123654321123321QwertyuiopIloveyou666666If you use any of the above passwords for any of your online accounts, you'd be wise to swap them out for something more secure. Cybersecurity experts often recommend picking something longer than the minimum number of recommended characters, and using uncommon characters – like punctuation marks or other symbols – in place of letters and numbers, to make your password harder to guess.Lookout also noted that the majority of people reuse passwords for multiple accounts, which is a practice you should avoid whenever possible. If hackers can get into one of your accounts, you can at least make it harder for them to get into the rest of them.You should also figure out which pieces of information about you and your family are publicly available, and avoid using passwords that include that information – including birthdays, anniversaries, names of loved ones and even your hometown.The U.S. Commerce Department's National Institute of Standards and Technology also recommends screening your passwords against online lists of compromised passwords and using multifactor authentication, among other security tactics.Sign up now: Get smarter about your money and career with our weekly newsletterDon't miss:'These 9 biggest password mistakes will get you in trouble,' warns fraud expert and ex-con artistProtect your money by changing your banking passwords

These are the 20 most common passwords leaked on the dark web — make sure none of them are yours.

MoneyWatch June 14, 2022 / 7:45 AM / MoneyWatch Top tech companies facing economic downturn Top tech companies facing hiring freezes, layoffs amid effort to cut costs 03:09 Large and small technology companies that expanded during the pandemic are now pulling back, retracting job offers and laying off workers as the U.S. economy slows.The slump is affecting a wide range of companies. Cryptocurrency company BlockFi, which had grown nearly sixfold in 2021, on Monday announced it was laying off about 250 people. Privacy and marketing company OneTrust last week let go 950 employees, Stitch Fix cut 330 and identity-verification company ID.me dismissed 130. Transportation company Bird slashed a similar number, while PolicyGenius gave pink slips to 170. And that's just in the past two weeks."Those companies are suffering right now," said CBS News technology reporter Dan Patterson. After staffing up during the pandemic, many tech players are consolidating as they contemplate the labor market, he said.  So far this year, tech companies have laid off a total of 20,000 workers, according to Layoffs.fyi, which tracks job cuts in the industry. Many more are abruptly reversing their hiring plans, in particular formerly fast-growing cryptocurrency companies."A lot of these companies have not only stopped hiring — they've rescinded job offers," Patterson noted. Coinbase earlier this month yanked job offers from about 300 incoming hires, according to reporting from Vice, which described one now unemployed tech worker losing a "life-changing" $300,000 job offer. Tech employees facing lack of job stability as stocks struggle 03:05 With the value of bitcoin, ethereum and other popular currencies dropping sharply, startups in the risky cryptocurrency space are at the forefront of layoffs. But the tech downturn is broad — the Nasdaq composite index has lost 30% of its value since January, the biggest drop in the tech-heavy stock index since 2007, when it fell 48%. That's affecting even established tech industry stalwarts. Meta and Twitter have slowed or paused hiring plans, while Netflix, Peloton and Robinhood are laying off workers. "Many technology startups that saw tremendous growth in 2020, particularly in the real estate, financial and delivery sectors, are beginning to see a slowdown in users," Andrew Challenger, senior vice president of outplacement firm Challenger, Gray & Christmas, said in a statement. Concerns about rising interest rates and inflation are spurring many of them "to cut costs and shore up capital," he said. Tech company layoffs "exploded" last month, according to Challenger. In May, job cut announcements in tech were 10 times the number in the first four months of the year, the company calculated.Tech companies are often seen as a bellwether for the broader economy. Investors in tech need a relatively high risk tolerance, as these startups can take a long time to turn a profit. When the economy is expanding, these investors are often willing to forgo profitability for growth, but that calculus changes when borrowing becomes more expensive — such as when interest rates rise — or when the economy looks less rosy. MoneyWatch: U.S. stocks sink as inflation fears mount 07:06 The latest tech rout is drawing comparisons to the dot-com bubble of the late 1990s, which saw the Nasdaq lose two-thirds of its value between November 1999 and May 2002. Scott Miners, chief investment officer at Guggenheim Partners, predicted that the tech index could fall as much as 75% over several years. Legendary value investor Jeremy Grantham said the broad S&P 500 index could drop 40%. "A lot of companies probably will disappear," Credit Suisse chairman Axel Lehmann said at a CNBC event last month. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Tech companies rocked by layoffs as industry faces biggest downturn in two decades.

The U.K. government has pushed ahead with plans to unilaterally override parts of the Northern Ireland protocol it agreed with the EU in 2019.Liam Mcburney - Pa Images | Pa Images | Getty ImagesLONDON — The U.K. government has pushed ahead with controversial plans to unilaterally override post-Brexit trade rules, ratcheting up the risk of a trade war as the European Union prepares to take retaliatory legal action.Prime Minister Boris Johnson's government on Monday published draft legislation to rewrite the Northern Ireland protocol, part of the post-Brexit trading agreement which requires checks on some goods entering Northern Ireland from the rest of the U.K.The deal, which came into force in January last year, was designed to avoid the need for a hard border between Northern Ireland and the Republic of Ireland, which remains part of the EU.Johnson wants to simplify the way goods flow from Britain to Northern Ireland and remove additional costs and paperwork for businesses. The embattled prime minister has insisted the proposed changes are "relatively trivial" — but he's heading for a fresh fight over the plan on multiple fronts, including with some of his own Conservative Party.The EU also firmly opposes the move, saying it breaks international law. The world's largest trading bloc has said it is considering launching legal action against the U.K. over the proposal.European Commission Vice-President Maros Sefcovic said it was with "significant concern" that the bloc takes note of the U.K.'s decision to table legislation "disapplying core elements of the Protocol.""Unilateral action is damaging to mutual trust. The Commission will now assess the UK draft legislation," Sefcovic said."We will react as one to this breach of trust," German Foreign Minister Annalena Baerbock said via Twitter, adding that peace and prosperity on the island of Ireland is "not a pawn."Protesters holding EU and Ireland flags, and a 'Keep the Protocol' placard stand outside Parliament.Sopa Images | Lightrocket | Getty ImagesTensions over the protocol have been simmering for months, particularly in the absence of a functioning devolved government in Northern Ireland.The situation has sent alarm bells ringing across the Atlantic too, with the U.S. urging the U.K. to continue negotiations with the EU to find solutions.Sterling traded around 0.5% lower at $1.2077 on Tuesday afternoon, having hit a fresh two-year low of $1.2104 earlier in the session.What has been proposed?In what it described as a "doctrine of necessity," the U.K. government sought to justify the move by claiming the protocol had caused "peril" to stable social and political conditions in Northern Ireland and threatened the protection of the Good Friday Agreement.Signed on April 10, 1998, the Good Friday Agreement is a historic truce that brought an end to three decades of sectarian violence in Northern Ireland between Irish separatists and British loyalists.Speaking to Sky News on Tuesday morning, U.K. Foreign Secretary Liz Truss said the impact of the Northern Ireland protocol had undermined the Good Friday Agreement."So, people in Northern Ireland, particularly in the unionist community, are feeling less connected to Great Britain and that they are not benefitting from being part of the United Kingdom. And that is a problem that we need to deal with," Truss said.Truss had previously warned the U.K. would have "no choice but to act" if EU lawmakers do not show the "requisite flexibility" over the protocol.Janine Schmitz | Photothek | Getty ImagesSomewhat surprisingly, the U.K. appeared to accept that its plans to rip up the previously signed agreement would not meet its obligations under international law.It said the term "necessity" had been used in the bill to lawfully justify situations where the only way the state can safeguard an essential interest is by breaking another international obligation. The U.K. government said there was "no other way" to safeguard the interests at stake.At the heart of the U.K.'s plan to ease trade disruption are the so-called green and red channels.This would mean goods coming into Northern Ireland from Britain (and which are staying) would use the green channel — with minimal paperwork and no checks. Meanwhile, British goods moving through Northern Ireland into the EU would use the red channel and be checked at Northern Ireland ports.The changes proposed will be debated and voted on in Parliament.How has the bill been received in Northern Ireland?Sinn Fein Vice President Michelle O'Neill responded to the plans by describing Johnson's bill as "illegal," saying the prime minister is in "clear breach" of international law."All that Boris Johnson is doing today is to further political instability and to create even more economic uncertainty for the days and weeks ahead," O'Neill told reporters on Monday.Democratic Unionist Party leader Jeffrey Donaldson disputes that the move is illegal and has said the party will now watch to see how the bill progresses through parliament before signing up to a new devolved government.The DUP, which came second behind Sinn Fein in May 5 elections, has refused to re-enter the executive — which runs the devolved government in Northern Ireland — until the protocol is rewritten. The DUP says U.K. lawmakers must abolish the original protocol, arguing that a customs border has been created across the Irish Sea which undermines Northern Ireland's place within the U.K.Sinn Fein, which accepts the protocol, has the right to nominate the executive's first minister after becoming the first nationalist party to win the most seats in the 101-year history of Northern Ireland.However, under a power-sharing agreement introduced in the 1990s, a new government cannot be formed without the DUP. The first minister and deputy minister must be one unionist and one nationalist.

The UK’s plan to rip up Brexit trade rules slammed for being in ‘clear breach’ of international law.

Rodolphe Belmer, Chief Executive Officer of Atos, speaks during a news conference to present the new supercomputer BullSequana XH3000 of French IT consulting firm Atos in Paris, France, February 16, 2022. REUTERS/Sarah MeyssonnierRegister now for FREE unlimited access to Reuters.comSummaryCompaniesBelmer to resign just 9 months after he started as CEOAtos to spin off cybersecurity unit BDSPlans sale of assets worth 700 mln eurosShares dive 27%PARIS, June 14 (Reuters) - French IT company Atos (ATOS.PA) spooked investors on Tuesday with a plan to split its operations and sell assets as well as the departure of CEO Rodolphe Belmer, sending its shares plunging by more than 25%.The departure of Belmer, who took over in January, follows weeks of reports of board divisions over revamping the company.Belmer and the board clashed over the fate of cybersecurity unit BDS, sources close to the matter have said, as he was willing to sell the business while the board wanted to retain it.Register now for FREE unlimited access to Reuters.comAtos is deemed strategic by the French government for its high-tech assets such the manufacture of supercomputers and software used by the army and the finance ministry to manage tax collection. Former prime minister Edouard Philippe sits on its board.Belmer's departure was announced just an hour before a capital market day that investors hoped could restore confidence after a series of setbacks that has wiped out two-thirds of Atos's market value over the past year,Belmer, the former boss of satellite company Eutelsat (ETL.PA), will leave Atos on Sept. 30. Atos shares fell as much as 27% in early Paris trading, and were down almost 19% as of 0931 GMT.On Monday, they fell more than 10%, following a media report about its future strategy.The weakness of its shares have made Atos a topic of takeover rumours. A finance ministry official said the government was closely monitoring developments and noted strategic assets were protected from hostile takeovers by a decree on screening foreign investments.SPLIT-UP Atos plans to split into two publicly listed entities and said it had appointed two deputy CEOs, Nourdine Bihmane and Philippe Oliva, to lead each of these.The split would be aimed at "unlocking value" as part of a broader plan that would cost an estimated 1.6 billion euros in 2022-2023, the company said.Atos will sell assets worth about 700 million euros, Belmer said on Tuesday in a call with reporters.It has already sold its 2.5% stake in payments company Worldline (WLN.PA) as part of its disposals plan, raising 220 million euros.As part of split-up, Atos is considering spinning off and combining BDS with its services operations, notably those aimed at helping customers move to the cloud.Dubbed Evidian, these operations combined generated 4.9 billion euros in revenue in 2021, up by 5% from the previous year, and an operating margin of 7.8%.The remaining part of Atos will include its declining and loss-making IT infrastructure management services, which had sales of 5.4 billion euros last year.Atos said it aimed to return to growth and profits for these activities by 2026.Asked if he would benefit from the two-year severance pay approved by shareholders in case of an abrupt departure of the CEO within two years, Belmer said he had proposed to leave with 9 months worth of salary.Previously the boss of Vivendi-owned pay-TV station Canal+, Belmer had promised a new start for Atos after a sudden loss of investors' confidence following reservations expressed by auditors over the accounts of two U.S. entities and a failed attempt to acquire a U.S. company hit investor confidence.The review of the two U.S entities revealed no material misstatement, Atos has said.Register now for FREE unlimited access to Reuters.comReporting by Mathieu Rosemain; additional reporting by Tassilo Hummel and Nicolas Delame; editing by Bradley Perrett and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Day of reckoning for Atos as split-up plan, CEO exit spook investors.

Michael NovogratzAnjali Sundaram | CNBCCrypto investor Michael Novogratz is drawing parallels between crypto and Long Term Capital Management, a highly leveraged hedge fund that blew up in the late 1990s."We are going through what feels to me a little bit like a Long Term Capital Management moment in crypto," Novogratz said on CNBC's "Squawk Box." "It was the big hedge fund with all the leverage, and when it started unwinding, there was repercussions everywhere. We are seeing that in the crypto space right now."Long-Term Capital Management was a hedge fund that rapidly collapsed in the late 1990s, rippling through the financial system because of Wall Street investment banks' exposure to the fund. It was bailed out by the Federal Reserve.Novogratz, CEO of Galaxy Digital, cited Celsius, a controversial cryptocurrency lending platform that paused all withdrawals on Monday, as well as the collapse of the Terra project."That's causing a lot of damage around the system. That's causing deleveraging that's accelerated," Novogratz said.The longtime crypto investor said he believes a bottom is likely near for bitcoin and other digital tokens. Bitcoin briefly dropped below $21,000 on Tuesday, continuing its plunge as investors sold off risk assets."We've gone to the level that should be close to a bottom. $21,000 bitcoin $1,000 ethereum. There's been a tremendous amount of capitulation and fear," Novogratz said. "Usually not a good area to sell, but it doesn't mean we can't go lower. I think the macro environment is still pretty challenging out there."Bitcoin has fallen nearly 70% from its all-time high in November 2021.

Novogratz says crypto going through a 'Long Term Capital Management moment' but nearing a bottom.

A Spirit Airlines plane on the tarmac at the Fort Lauderdale-Hollywood International Airport on February 07, 2022 in Fort Lauderdale, Florida.Joe Raedle | Getty ImagesSpirit Airlines said Tuesday that its board will decide on competing offers from JetBlue Airways and Frontier Airlines before a shareholder meeting at the end of the month as the battle for the discount carrier heats up."The Board expects to bring the process to a conclusion and provide an update to stockholders" ahead of its June 30 meeting, Spirit CEO Ted Christie said in a statement. Spirit postponed a meeting where shareholders would vote on the existing Frontier deal from June 10 until June 30 to review the bids.Shares of JetBlue were up 1.5% in premarket trading after Spirit's statement, while Frontier was down about 1%. Spirit shares were up about 1%.JetBlue made a sweetened offer to buy Spirit on June 6, raising a reverse break-up fee to $350 million should regulators not approve the acquisition. Spirit has had a merger agreement with fellow ultra-low-cost airline Frontier since February and is still bound by the terms of that cash-and-stock deal, it said.Frontier offered a $250 million reverse break-up fee. JetBlue's included pre-paying $1.50 a share from the break-up fee to shareholders to raise its offer from $30 a share to $31.50 in cash."As part of this process, Frontier and JetBlue are being given access to the same due diligence information, on the same terms," Christie said.JetBlue previously accused Spirit of not granting equal access to its information after Spirit repeatedly rebuffed JetBlue's buyout offers.

Spirit Airlines says it will decide on competing JetBlue, Frontier bids before the end of June.

Sports Updated on: June 13, 2022 / 3:59 PM / CBS Boston BROOKLINE -- Phil Mickelson is not quite at peace with the potential of never again playing on the PGA Tour.The international golf superstar addressed an overflow of reporters on Monday at The Country Club, as he prepares to play in the 31st U.S. Open of his long and storied career. Never before, though, had Mickelson arrived facing such scrutiny, as he's currently suspended from the PGA for his decision to join the LIV Tour."I am, again, very appreciative of the many memories, opportunities, friendships, relationships the PGA Tour has provided. And those are gonna last a lifetime," Mickelson answered when asked if he will be at peace if he never again plays in a PGA event. "But I'm hopeful that I'll have a chance to create more."Mickelson arrived in Boston fresh off competing in the first-ever LIV event in London, where he finished tied for 33rd in the field of 48 golfers. The event marked a significant disruption to the world of professional golf, with the PGA indefinitely suspending all LIV participants for their participation in the new league, which has the deep financial backing of the Saudi Arabia sovereign wealth fund. (That suspension, of course, does not apply to non-PGA Tour events, such as the U.S. Open and the British Open, in which Mickelson will compete next month in Scotland.)Among the flood of criticisms of Mickelson was a letter sent to the golfer and other LIV participants from 9/11 Families United, a coalition of families and survivors of the 9/11 attack. "Most egregiously, it is the Kingdom [of Saudi Arabia] that has spent 20 years in denial: lying about their activities, and cowardly dodging the responsibility they bear," wrote Terry Strada, the national chair of the coalition. "Yet these are your partners, and much to our disappointment, you appear pleased to be in business with them."Mickelson was asked directly for his response to Strada and the 9/11 Families United."I would say to the Strada family, I would say to everyone that has lost loved ones, lost friends in 9/11, that I have deep, deep empathy for them. I can't emphasize that enough," Mickelson answered after first requesting that the reporter ask the question in a more expeditious fashion. "I have the deepest of sympathy and empathy for them."At the end of his 20-plus-minute press conference, Mickelson was asked if he plans to personally write or speak to the families of the coalition privately. Mickelson didn't answer the question, but mostly repeated his answer from earlier. "I think I speak for pretty much every American in that we feel the deepest of sympathy and the deepest of empathy for those that have lost loved ones, friends in 9/11. It affected all of us, and those that have been directly affected, I think I can't emphasize enough how much empathy I have for them."Mickelson had previously expressed his own concerns about the financial backers of the Saudi-funded tour, but has since shared no such worries. PGA commissioner Jay Monahan, a Belmont native, reiterated the PGA's stance against the LIV in a TV interview on Sunday."I would ask any player who has left or any player who would ever consider leaving, 'Have you ever had to apologize for being a member of the PGA Tour?'" Monahan rhetorically asked when discussing the moral and ethical quandaries assumed when accepting the big payouts from the LIV.Mickelson declined to publicly respond to Monahan's comments, only stating that he's agreed with some of the PGA's decisions over the years while disagreeing with others. With regard to his expected reception from the large galleries that will line the fairways and surround the greens and tee boxes all week, Mickelson said he respects anyone who has decided to stop cheering for him."In regards to if fans would leave or whatnot, I respect and I understand their opinions, and I understand that they have strong feelings and strong emotions regarding this choice. And I certainly respect them, and I respect that," Mickelson said. "I think the Boston crowds are some of the best in sports, and I think that they have given me a lot of support. I'm very appreciative of that over the years. And I think that their excitement and energy is what creates such a great atmosphere. So whether it's positive or negative towards me directly, I think it's going to provide an incredible atmosphere to hold this championship. I think it's gonna be a great event, and the people here have a lot to do with that."Mickelson also offered little in the way of reaction to Tour players like Rory McIlroy who have been highly critical of LIV Golf. "I certainly respect [McIlroy]. I respect his ideas. I respect all the players that choose to stay on the PGA Tour," Mickelson said. "I certainly think extremely highly of many of the players on the PGA Tour and their right to their own decisions."Mickelson admitted that he's made mistakes in his past by being vocal about his opinions regarding the sport's governing bodies, and that he intends to work on only voicing those opinions "behind closed doors." He also addressed his gambling addiction, stating he used his four-month hiatus from golf to address such areas of his life."I also continued to work on some areas that I'm deficient of in my life. I mean, the obvious one is gambling. I've been working on that for years, and I'm very happy with where I'm at with that," Mickelson said. "But I'll have to continue to work on that the rest of my life. And this time allowed me to kind of sit still and work on these areas."While Mickelson spoke comfortably about the financial incentive to join LIV Golf as well as the way he believes the new enterprise will "grow the game," he did indicate that he has an issue with being suspended from the PGA Tour."I've worked hard to earn a lifetime membership," Mickelson said. "I've worked hard to give back to the PGA Tour and the game of golf throughout my 30-plus years of professional golf. And I've earned that lifetime membership, so I believe that it should be my choice."Thus far, that choice does not belong to Mickelson. Unlike many of his fellow LIV Golf participants, Mickelson has not relinquished that PGA Tour membership, with the hope and perhaps the expectation that he will one day be welcomed back to the tour. That feels more than a bit questionable at the moment, as the position of the PGA Tour on the matter has been painstakingly clear for some time. Nevertheless, the situation in Mickelson's eyes remains unresolved.Add that to the long list of uncertainty surround Phil Mickelson's place in the game of golf at this moment in time.

Phil Mickelson addresses LIV Golf controversy at U.S. Open, hopes to play on PGA Tour again.

Test tubes labelled "Monkeypox virus positive and negative" are seen in this illustration taken May 23, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comBRUSSELS, June 14 (Reuters) - The European Union signed on Tuesday an agreement with Bavarian Nordic (BAVA.CO) for the supply of about 110,000 doses of vaccines against monkeypox, the EU Commission and the company said.The vaccines will be bought with EU funds and delivered to EU states, EU health commissioner Stella Kyriakides said. Doses are to be delivered in proportion to the population, starting with states with the most urgent needs.Deliveries will start immediately and will be completed in the coming months, the company said. It raised its outlook for this year's financial results after the deal with the EU and other smaller deals for the supply of its vaccine.Register now for FREE unlimited access to Reuters.comAbout 900 cases of monkeypox have been reported in 19 EU countries and also in Norway and Iceland, which will be entitled to receive doses despite not being EU members, the Commission said.Danish biotech Bavarian Nordic's vaccine, known as Imvanex in Europe and Jynneos in the United States, has been approved against smallpox.The vaccine is not authorised yet in the EU against monkeypox, the EU Commission said."However, the smallpox vaccine also protects people from monkeypox, since this virus is closely related to the smallpox virus," the Commission said.The EU drugs regulator is currently in talks with Bavarian Nordic for a speedy approval of the vaccine also against monkeypox, the Commission said.Some EU states, including Germany and Spain, have already made their own orders for monkeypox vaccines. read more Register now for FREE unlimited access to Reuters.comReporting by Francesco Guarascio @fraguarascio, Anna Ringstrom and Bart Meijer; Editing by Ed Osmond, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

EU signs deal with Bavarian Nordic for supply of 110,000 monkeypox vaccines.

Politics June 14, 2022 / 8:29 AM / CBS News Video links 9/11 hijacker to Saudi operative CBS News exclusive: Newly released video shows 9/11 hijacker with Saudi intelligence operative 02:34 Washington — President Biden will travel to the Middle East next month for a three-day trip that includes stops in Israel, the West Bank and Saudi Arabia, where he is expected to meet with Saudi Crown Prince Mohammed bin Salman, a senior administration official told reporters Tuesday.During the trip from July 13 to July 16, Mr. Biden is set to meet with roughly a dozen Middle East leaders — including the Saudi de facto leader — during a visit that will likely be met with controversy given his role in the brutal murder of Washington Post columnist Jamal Khashoggi in 2018 and the kingdom's record on human rights.A U.S. intelligence report released by the Biden administration in February 2021 concluded that the crown prince "approved an operation in Istanbul, Turkey, to capture or kill Saudi journalist Jamal Khashoggi," who was critical of the regime. In 2019, Mr. Biden vowed to make Saudi Arabia a global "pariah," and when pressed Friday on whether he still views the kingdom that way, he told reporters, "I'm not going to change my view on human rights. But as president of the United States, my job is to bring peace if I can. And that's what I'm going to try to do." During his Middle East trip, Mr. Biden will stop in Israel first, where he is scheduled to visit an area where U.S.-funded defense systems such as the Iron Dome are used, the senior administration official said. The official said a focus of the visit will be Israel's "increasing integration into the region" through the Abraham Accords, brokered under the Trump administration, and ties with Jordan and Egypt. During the first leg of his Middle East trip, the president will also conduct a virtual summit with India, Israel, the United Arab Emirates and the U.S. to discuss food security and other topics. At his second stop in the West Bank, Mr. Biden is set to meet with Palestinian President Mahmoud Abbas, likely in Bethlehem, during which the official said the president looks forward to "reaffirming his lifelong commitment to a two-state solution" and ways to "rekindle a new political horizon that can ensure equal measures of freedom, security, prosperity and dignity to Israelis and Palestinians alike."  The final leg of the president's trip will be in Saudi Arabia for a summit with the Gulf Cooperation Council composed of leaders from six Gulf nations (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates) — as well as Iraq, Jordan and Egypt. The group is set to discuss climate and infrastructure, human rights and food security.Asked about likely criticism of Mr. Biden for meeting with the Saudi crown prince, the senior administration official asserted that the president will not change his views on human rights, and the Biden administration is "not overlooking any conduct that took place before we entered office.""While we recalibrate relations, we're not seeking to rupture relations because Saudi Arabia has been a strategic partner of the United States for eight decades,"  the official said.Mr. Biden's visit to Saudi Arabia comes as Americans are feeling the squeeze at gas pumps, with the nationwide average price of gas topping $5 for the first time ever, according to AAA. The president has attributed the surge in gasoline prices to Russian President Vladimir Putin and his ongoing war with Ukraine. With Saudi Arabia as the world's top exporter of oil, Mr. Biden could use the visit to ask the kingdom to help stabilize oil markets, ideally lowering prices back in the U.S. But even the prospect of a visit by Mr. Biden with the Saudi crown prince has earned the president criticism. Rep. Adam Schiff, a Democrat from California, told "Face the Nation" this month that Mohammed bin Salman should be "shunned," and the president should not see him."I wouldn't go. I wouldn't shake his hand," he said. "This is someone who butchered an American resident, cut him up into pieces and in the most terrible and premeditated way. And until Saudi Arabia makes a radical change in terms of human rights, I wouldn't want anything to do with him."Schiff said that while he understands Saudi Arabia's role in the oil market and would want to see the kingdom boost production, "going hand-in-hand to someone who's murdered American resident would not be on my list." Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Biden traveling to Middle East, meeting with Saudi crown prince next month.

Model Y cars are pictured during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comNEW DELHI, June 14 (Reuters) - A key executive who was leading Tesla's lobbying effort in India has resigned, weeks after the U.S. carmaker put on hold plans to sell electric cars in the South Asian nation, two sources aware of the matter told Reuters.Manuj Khurana, policy and business development executive at Tesla in India, was hired in March 2021 and played a key role in forming a domestic market-entry plan for the U.S. carmaker in the country.He lobbied the Indian government for more than a year to slash the import tax on electric cars to 40% from as high as 100%, a move Tesla said would allow it to test the market with imports from its production hubs like China before investing in a factory. read more Register now for FREE unlimited access to Reuters.comBut Prime Minister Narendra Modi's government insisted Tesla must first commit to manufacturing cars locally before it can offer any concessions. With talks deadlocked, Tesla put its plans to sell cars in India on hold, reassigned some of the domestic team and abandoned its search for showroom space. read more Neither Khurana, the company's first employee in India, nor Tesla responded to requests for comment. An email sent to Khurana generated an automated reply saying the address was no longer valid and future emails would not be received."Tesla's plans to launch in India right now are as good as dead," said one of the sources.The sources wished to remain anonymous because the resignation had not yet been made public.Tesla Chief Executive Elon Musk said on Twitter last month that the company would not set up manufacturing in any location where it was not allowed first to sell and service cars.The carmaker has also shifted its focus to other markets in Southeast Asia, like nickel-rich Indonesia, where it is looking at a potential battery-related investment, as well as Thailand, where it recently registered a local unit to sell cars. read more Register now for FREE unlimited access to Reuters.comReporting by Aditi Shah and Aditya Kalra; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Tesla India policy executive quits after company puts entry plan on hold.

BY THE NUMBERSU.S. stock futures bounced after Tuesday's cooler inflation report and what could be an even more aggressive Federal Reserve interest rate hike Wednesday. The S&P 500 on Monday officially closed in bear market territory, defined as a decline of 20% or more from its prior high, which was in January. The broad market index also hit a new low for the year. (CNBC)Monday's steep sell-off saw the S&P 500 lose 3.9% and the Nasdaq, already in a bear market since March, drop 4.7%. The Dow sank 876 points or 2.8%. The 30-stock average fell further into a correction, down 17% since its January record high. A correction is defined as a decline of 10% or more from a prior high. All three stock benchmarks have dropped for four sessions in a row. (CNBC)The 10-year Treasury yield on Tuesday backed off 2011 highs, trading around 3.3%, after the government's May producer price index rose 10.8% year over year, a slightly smaller rise than expected. The PPI is the other side of the inflation coin at the wholesale level, after last week's hotter-than-expected consumer price index. The PPI remained near its historic year-over-year high of up 11.5% in March. (CNBC)The markets expect the Fed to hike rates by 0.75% at the end of its two-day June policy meeting Wednesday. Only the magnitude of the rate increase is in question, as Fed Chairman Jerome Powell has repeatedly said that 0.5% rises in June and July looked appropriate. After the Fed's May meeting, which saw rates go up 0.5%, Powell took a 0.75% hike off the table. (CNBC)* Cramer: Why we're buying stocks heading into Wednesday's big Fed decision (CNBC Investing Club)IN THE NEWS TODAYCrypto exchange Coinbase will cut 18% of full-time jobs, according to an email sent to employees Tuesday. CEO Brian Armstrong pointed to a possible recession, a need to manage costs, and growing "too quickly" during a bull market. Shares of Coinbase fell 7% in the premarket after closing down 11.4% on Monday. (CNBC)Oracle (ORCL) shares surged 11% in Tuesday's premarket, the morning after the database software company issued fiscal fourth-quarter earnings and revenue that exceeded estimates. Revenue increased 5% to $11.84 billion from a year earlier, driven by growth in the company's cloud infrastructure business, which competes with Amazon Web Services and Microsoft Azure. (CNBC)Twitter (TWTR) shares rose 2.7% in premarket action following news that Elon Musk would attend an all-hands employee meeting on Thursday. Musk, CEO of Tesla and SpaceX, agreed in April to buy Twitter for $44 billion but has since threatened to back out of the deal. (Reuters)Spirit Airlines (SAVE) said Tuesday its board will decide on competing offers from JetBlue Airways (JBLU) and Frontier Airlines (ULCC) before a shareholder meeting at the end of the month as the battle for the discount carrier heats up. Spirit postponed a shareholder voting meeting to June 30 to review the bids. (CNBC)Donald Trump's closest campaign advisers, top government officials and even his family were dismantling his false claims of 2020 election fraud ahead of Jan. 6, but the defeated president seemed "detached from reality" and kept clinging to outlandish theories to stay in power, the committee investigating the Capitol attack was told Monday. (AP)The FDA's committee of independent vaccine experts will meet Tuesday to consider Moderna's (MRNA) coronavirus vaccine for kids 6-17. Thus far, Moderna's shots have been authorized only for adults. On Wednesday, the panel will consider Moderna's vaccine for children under 6 and Pfizer's (PFE) vaccine for children under 5. (NY Times)STOCKS TO WATCHContinental Resources (CLR) rallied 7.4% in the premarket after receiving a $70 per share "take private" bid from Chairman Harold Hamm and his family. The company's board will establish an independent committee to evaluate the proposal.National Vision (EYE) soared 14.3% in the premarket following news that it will be added to the S&P SmallCap 600 index. The change will be effective prior to the opening of trading on Thursday.Best Buy (BBY)fell 1.3% in premarket trading after Bank of America Securities downgraded the electronics retailer's stock to neutral from buy. BofA points to increasing uncertainty about Best Buy's 2023 earnings prospects.Nokia (NOK) was upgraded to buy from neutral at Citi, which cites improving fundamentals for the networking hardware and software maker. Citi points to particular strength for Nokia in the mobile infrastructure market. The stock added 2.8% in premarket action.Coty (COTY) – Coty rose 1% in premarket trading after the cosmetics company reaffirmed its financial outlook for both the current quarter and the full year. Coty is set to present at Deutsche Bank's Global Consumer Conference today.Philip Morris (PM) said it now expects a better performance from its core business than previously anticipated, and that it continues to see growth in its IQOS electronic cigarette business. The stock rose 1% in the premarket ahead of a company presentation at today's Deutsche Bank conference.

What to watch today: Wall Street set to rise after S&P 500 officially closed in bear market.

Space June 8, 2022 / 3:45 PM / CBS News Scientists to study planets deep in the Milky Way James Webb Space Telescope to study far reaches of Milky Way 05:01 In June, five planets will move into a rare alignment, which will be visible from Earth. Mercury, Venus, Mars, Jupiter and Saturn are lining up — in that order — for the first time since December 2004.While it is common to see a conjunction of three planets close together, seeing five is rare, according to Sky & Telescope. The planets are lining up in their natural order from the Sun, which is also remarkable, says the science magazine published by American Astronomical Society.The five so-called "naked-eye" planets were visible beginning on June 3 and 4, but on June 24, they will be even easier to see. On the mornings of June 3 and 4, the line-up was visible with binoculars — but only for about half an hour, before Mercury was lost in the glare of the Sun.  Sky & Telescope says the best time to see the line up on June24 is 45 minutes before sunrise. It should be visible on the eastern horizon.  Sky & Telescope But on June 24, viewing will be optimal. Even if the distance between Mercury and Saturn increases, it's getting easier to spot Mercury, so it is getting progressively easier to see all five planets, Diana Hannikainen, observing editor of Sky & Telescope, told CBS News via email.  Hannikainen said the sky on the morning of the 24th "will present a delightful sight" because the waning crescent Moon will also join the procession between Venus and Mars. Even if is cloudy, the planets should be visible on the days leading up to this. Sky & Telescope says the best time to see the line up on June24 is 45 minutes before sunrise. It should be visible on the eastern horizon. Four of the naked-eye planets have been lining up in the for the past few months, according to NASA. But over the next few months, Saturn, Mars, Jupiter and Venus will spread out. By September, Venus and Saturn will no longer be visible to observers. Another astronomical phenomenon will be visible in June: the M13 globular star cluster, a tightly packed spherical collection of stars. The M13, also known as the Hercules Cluster, contains thousands of stars, which are thought to be around 12 billion years old — almost the age of the universe itself, NASA says. Caitlin O'Kane Caitlin O'Kane is a digital content producer covering trending stories for CBS News and its good news brand, The Uplift. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Five planets will line up in the sky in June. Here's how to see it.

Kremlin spokesman Dmitry Peskov attends a joint news conference of Russian President Vladimir Putin and Belarusian President Alexander Lukashenko in Moscow, Russia February 18, 2022. Sputnik/Sergey Guneev/Kremlin via REUTERS Register now for FREE unlimited access to Reuters.comJune 14 (Reuters) - The Kremlin said on Tuesday it was "sure" that Russian-backed separatist leaders in the Donbas would be willing to listen to an appeal from Britain over the fate of two Britons sentenced to death for fighting for Ukraine. read more Kremlin spokesperson Dmitry Peskov told reporters in a conference call that London had not contacted Moscow about the issue.A court in the breakaway Donetsk People's Republic (DPR) in eastern Ukraine last week sentenced Britons Aiden Aslin and Shaun Pinner and Moroccan Brahim Saadoun to death, saying they were guilty of "mercenary activities".Register now for FREE unlimited access to Reuters.comTheir families deny that the trio, who were contracted by the Ukrainian armed forces, were mercenaries.Britain has so far declined publicly to raise the issue with authorities in the DPR.The territory, much of which remains under Ukrainian control, is internationally recognised as part of Ukraine, except by Russia - which considers it an independent state. Dealing directly with DPR leaders might be seen as de facto recognition.British Foreign Secretary Liz Truss said earlier on Tuesday that that the best route to secure the release of Aslin and Pinner was "through the Ukrainians", but that she would do "whatever it takes". read more London has called the death sentences a "sham ruling" and said the proceedings were akin to a Soviet-era show trial.Authorities in the DPR said the men had a month to launch an appeal. Their lawyers said they would do so and Kyiv has pledged to try to secure their release through a prisoner exchange with Russia.Register now for FREE unlimited access to Reuters.comReporting by Reuters; Editing by Kevin LiffeyOur Standards: The Thomson Reuters Trust Principles.

Kremlin says separatists would listen to UK appeal on condemned fighters.

Travelers walk through Terminal A at Orlando International Airport on Christmas Day, Saturday, December 25, 2021.Stephen M. Dowell | Orlando Sentinel | Getty ImagesU.S. airline bookings slipped 2.3% in May from a month earlier, the second consecutive monthly drop this year, while fares soared over 2019 levels, according to an Adobe report published Tuesday.Customers spent $8.3 billion on domestic tickets last month, up 6.2% from April.So far this year, consumers spent more than $37 billion for domestic flights, almost double what they spent in the first five months of last year, when Covid-19 vaccines were just becoming widely available."While some consumers have been able to stomach the higher fares, especially for those who delayed travel plans during the pandemic, the dip in bookings shows that some are rethinking their appetite for getting on a plane," Vivek Pandya, lead analyst at Adobe Digital Insights, wrote in the report.Airfare has surged thanks to high fuel prices, labor shortages and searing travel demand after two years of pandemic, marking one of the most dramatic examples of rising inflation this year.Bookings have been mostly resilient, though it's unclear whether demand will last beyond the peak spring and summer travel season, when airlines make the bulk of their annual revenue."We have yet to see any cracks in airline bookings, and investors remain concerned about a potential slowdown post peak summer travel," Andrew Didora, airline analyst at Bank of America wrote in a note on Monday.Airlines cheered the Biden administration's decision last week to lift a Covid-19 testing requirement for inbound international travelers. Didora said the shift could further fuel international bookings.United Airlines on Monday said that searches for international trips rose 7% in the 72 hours since the White House announced it would scrap the international testing requirements, noting the "majority of searches by U.S. travelers were for near-term travel this summer to destinations in Europe, Mexico and the Caribbean."

U.S. airline bookings slipped again in May with fares 30% higher than 2019.

A pharmacist holds a vial of the Moderna coronavirus disease (COVID-19) vaccine in West Haven, Connecticut, U.S., February 17, 2021. REUTERS/Mike SegarRegister now for FREE unlimited access to Reuters.comJune 14 (Reuters) - Moderna's (MRNA.O) COVID-19 vaccine may pose a higher risk of heart inflammation in some age groups than Pfizer-BioNTech's (PFE.N), shot, the U.S. Centers for Disease Control and Prevention said on Tuesday, citing recent data.The agency, however, said the findings on myocarditis and pericarditis, types of heart inflammation linked to both the mRNA shots, were not consistent across all of the U.S. vaccine safety monitoring systems.The CDC's analysis comes as the U.S. Food and Drug Administration's advisers meet on Tuesday to discuss the authorization of Moderna's vaccine for children and teens aged 6-17.Based on data from the Vaccine Safety Datalink (VSD) system, the incidence of heart inflammation was 97.3 cases per million doses for males aged 18-39 following a second dose of Moderna's shot, versus 81.7 cases per million Pfizer vaccine doses.Available information suggests that most people with myocarditis after mRNA COVID-19 vaccination recover over time, the CDC said.Register now for FREE unlimited access to Reuters.comReporting by Manas Mishra in Bengaluru; Editing by Saumyadeb Chakrabarty and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Moderna COVID vaccine may pose higher heart inflammation risk - U.S. CDC.

Health June 14, 2022 / 7:21 AM / CBS/AP Ayanna Pressley reveals she has alopecia Congresswoman Ayanna Pressley reveals she has alopecia 01:40 The Food and Drug Administration on Monday approved a drug called baricitinib as the first for treating severe alopecia areata, an autoimmune disorder affecting more than 300,000 people in the United States every year. Alopecia causes either temporary or permanent patchy hair loss that can affect any hair-bearing site of the body, leading to emotional distress. The condition has come to the fore recently through high-profile cases including Hollywood actress Jada Pinkett Smith and Rep. Ayanna Pressley. "Access to safe and effective treatment options is crucial for the significant number of Americans affected by severe alopecia," said FDA official Kendall Marcus in a statement. "Today's approval will help fulfill a significant unmet need for patients with severe alopecia areata." Baricitinib, which is made by U.S. pharmaceutical company Eli Lilly and known by the trade name Olumiant, belongs to a class of drugs called Janus kinase inhibitors. It works by interfering with the cellular pathway that leads to inflammation.The New York Times says Pfizer and Concert Pharmaceuticals "are close behind with similar drugs."  File photo of someone with alopecia Syldavia/Getty Its approval for use against alopecia was based on the results of two randomized, controlled clinical trials involving a total 1,200 adults with severe alopecia. Each trial split participants into three groups: a placebo group, a group that received a two-milligram dose every day, and a group that received a four-milligram dose every day. After 36 weeks, almost 40 percent of those on the higher dose grew back 80 percent of their scalp hair, compared to around 23 percent of the lower dose group, and five percent of the placebo group. Around 45 percent of people in the higher dose group also saw significant eyebrow and eyelash regrowth. The most common side effects included upper respiratory tract infections, headaches, acne, high cholesterol, and increase of an enzyme called creatine phosphokinase. Prior treatments for alopecia included topical or oral drugs, but these have been considered experimental and none was approved. Baricitinib was previously approved for treatment of rheumatoid arthritis, and its license was extended to the treatment of hospitalized COVID patients during the pandemic.The Times points out that FDA approval plays an important role in getting insurance companies to cover the costs of drugs, adding that Janus kinase inhibitors have a list price of nearly $2,500 a month. In: Alopecia Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

First drug to treat hair loss disorder alopecia OK'd by FDA.

"How are you?" These are the three most useless words in the world of communication. The person asking doesn't really want to know, and the person responding doesn't tell the truth. What follows is a lost opportunity and meaningless exchange with zero connection.But the key to making the most out of small talk, according to Harvard researchers, is to simply ask the other person follow-up questions. In a series of experiments, researchers analyzed more than 300 online conversations and found that those who were asked more meaningful follow-up questions (a.k.a. questions that aren't "how are you?" or "what do you do?"), found the other person much more likable."When people are instructed to ask more questions, they are perceived as higher in responsiveness, an interpersonal construct that captures listening, understanding, validation and care," the researchers wrote.Don't miss: Best credit cards for Black Friday and Cyber Monday shopping of 2020So how do you move from tongue-tied to being a charismatic and interesting person? It depends on the question you start with, and then you can focus on the stream of follow-up questions.Here are seven tactics to having a meaningful conversation:1. Use the A.C.T. trick to start a connectionWhen was the last time you were in a meeting that didn't start with small talk? It's a natural way for people to connect. Start with a question that will build up to a conversation that meets the A.C.T. criteria:A - There's authenticityC - There's a connectionT - There's a topic that will give them taste of who you areSome of those questions might be:"What's your current state of mind?""What are you looking forward to this week?""You remind me of a celebrity, but I can't remember which one — who's someone you relate to?"2. Move beyond the "hourly update"The fallback for a lot of people is like the newscast "hourly update" — traffic, sports, weather and so on.Drill this into your head: It is a horrible icebreaker. There are a few exceptions, like if it's a genuine interest of yours and your boss or colleague shares that passion. But try to move beyond those cliché topics to things that are more important and personal to you.3. Be in the moment and observe your surroundingsOpen your eyes before you open your mouth. Find something to focus on in your surroundings, like the piece of art on the wall, a quirky gadget or family picture on their desk, a race car helmet, scattered coins from various countries and so on. There's bound to be something that will spark small talk and help lead the conversation into unique follow-up questions.Open your eyes before you open your mouth.Gary BurnisonCEO, Korn FerryLet's say you're talking to the CEO of a large, iconic company who is about to retire, and you noticed a row of empty boxes along the wall of the CEO's office. You might start with the question, "How hard is it for you to leave this job?" This will lead to a much deeper and more emotionally revealing discussion, and it never would've happened had you not noticed those boxes.4. Share some news (that actually happened)If you have "news," share it: "I adopted a pet over the weekend" or "My 6-year-old rode a bike for the first time yesterday!" Believe it or not, most people actually do want to know more about others, especially if they both work at the same company.If you're new to a company and leading a team, for example, start your first meeting by going around the room and asking each person to say one interesting thing that recently happened in their lives. As a result of that momentary sharing, you've allowed everyone to feel more personally and genuinely connected with each other.The objective to is be genuine and not simply make something up. Otherwise, you run the risk of not knowing how to answer follow-up questions about something you have little or no experience with.5. Talk earlyWhether you're meeting in person or dialing in for a conference call, talk early.If you wait, two things will probably happen: One, someone else will make the comment you wanted to make and, two, your more talkative colleagues will take over with their own follow-up questions. You'll get lost in the cross-talk and miss your chance.6. It's not just what you sayNo matter what or how much you say, your tone of voice, facial expression and eye contact will broadcast so much more.In person, look at the other person when you speak, not at the conference table or the wall. On the phone, smile — it will make your voice sound warmer. It's not just what you say, but how you say it, that will help others connect with you.7. Make the pivotThis is where small talk goes to the next level, as you segue from talking about something small to the issue at hand.If the conversation is already flowing, it will be easier than you think and ask follow-up questions. Your boss could be the one to make the first step, "So, tell me what's going on with [X]." Thanks to the small talk, you'll already be in sync. You can then pivot to a more meaningful discussion that showcases your knowledge, contribution and confidence.Just do itFor introverts, small talk can be painful. But if you say nothing in those moments before a meeting starts or when you and your boss are in the elevator, you run the risk of becoming invisible.First, give yourself a break. Almost everyone is intimidated by others, especially those who outrank them. (I remember feeling self-conscious when I met with a four-star general at the Pentagon. And again feeling that way in a meeting with Britain's then-Prime Minister David Cameron. But I took a deep breath and spoke up anyway.)It's natural to defer to authority. You are who you are, and no one is expecting a soliloquy out of you. But when you make an effort to speak up, others will listen and connect with you.Gary Burnison is the CEO of Korn Ferry, a global consulting firm that helps companies select and hire the best talent. His latest book, a New York Times best-seller, "Lose the Resume, Land the Job," shares the kind of straight talk that no one – not a spouse, partner, mentor or anyone else – will tell you. Follow him on LinkedIn here.Like this story? Subscribe to CNBC Make It on YouTube!Don't miss:7 years ago, Google set out to find what makes the 'perfect' team — and what they found shocked other researchersSelf-made billionaires like Warren Buffet and Elon Musk prove if you don't make time for these 6 little things every day, you'll never be successful

Stop asking 'how are you?' Harvard researchers say this is what successful people do when making small talk.

The months-long slide for the S&P 500 index has officially thrown stocks far enough off of their all-time highs to be considered a bear market.Since the beginning of 2022, the S&P 500 index is down nearly 21% as of Monday afternoon, with companies like Amazon and Google parent Alphabet leading the way with their 39% and 27% respective drops. Elon Musk's Tesla has also lost 45% of its market value since January — shaving more than $500 billion off of its market cap.The problem has been exacerbated by inflation and global uncertainty, with experts predicting that a recession could be around the corner.Here's what you need to know about bear markets, and what you should do when you find yourself in one.What exactly is a bear market?Put simply, bear market is the term used to describe when the equity markets are down 20% or more from their most recent all-time high. In this case, the S&P 500 index closed Monday at 3,749.91, with its previous high being 4,818.62.Since World War II, there have been 14 bear markets that have pulled the S&P down an average of 30%, according to CNBC. Each bear market is unique, says Laura Veldkamp, a finance and economics professor at Columbia University, and the current one has a slew of causes.Wherever there's a lot of guessing and a lot of uncertainty, that means people's beliefs can move around a lot. And with those beliefs go stock prices.Laura VeldkampProfessor, Columbia UniversityTwo of those causes are interest rates being raised to fight runaway inflation and pandemic-related uncertainty fueling the stock slide as investors try to figure out the long-term repercussions that Covid-19 will have on the global economy, Veldkamp says."The truth is, nobody knows what will be the long-term consequences of having [shut down parts of the economy for long periods of time], because we don't have any experience having done it before," she tells CNBC Make It. "Wherever there's a lot of guessing and a lot of uncertainty, that means people's beliefs can move around a lot. And with those beliefs go stock prices."What should investors do during a bear market?For many investors, seeing their investment portfolios turn red can be alarming and make them want to pull their money out to avoid further losses. But this is the wrong strategy, Veldkamp says."Do not sell right now unless you absolutely need that money," she says. "If you're a young person who's putting some stocks in a 401(k) for retirement, don't worry about this. Just keep doing what you're doing."Indeed, bear markets "are historically fantastic opportunities to build wealth for longer-term investors," says Matt Stucky, senior portfolio manager at Northwestern Mutual Wealth Management."An investor that starts off methodically putting money into a 401(k) is going to have a bigger balance 20 or 30 years from now if earlier on during their investing career they were able to take advantage of bear markets versus having to buy at all-time highs all the time," he says.Still, Stucky recommends that investors don't rush to invest all their money. They should also focus on growing their savings. The important thing is for investors to "make sure that you can handle these swings" when buying stocks, because there will be more volatility to come."Just from a sleeping-at-night situation, you don't want your portfolio to create anxiety for you that affects your mental health," he says.How long do bear markets last?The bright side is that the market has bounced back from every single bear market, Veldkamp says."Have faith that it's going to come back in due course well before you retire," she says. "Usually, it takes a couple of years to recover some losses like this."The average bear market lasts 359 days, and Stucky adds that it can take a full 38 months to go from the bottom of a bear market to a new all-time high. He says that getting through an extended stretch like that can be stressful, and for some investors, it might be helpful to get out of the habit of checking their balance frequently."There's no reason you need to introduce more anxiety into your life by looking at your balance multiple times a day or every day or every other day," Stucky says. "You could check it once a month and be fine."Sign up now: Get smarter about your money and career with our weekly newsletterDon't miss: Don't wait any longer to book your summer travel, says Scott's Cheap Flights founder

Stocks have officially entered bear market territory—here's what that means and what you should do.

Mick Jagger of The Rolling Stones performs at Anfield Stadium as part of their "Stones Sixty Europe 2022 Tour", in Liverpool, Britain, June 9, 2022. REUTERS/Carl RecineRegister now for FREE unlimited access to Reuters.comAMSTERDAM, June 14 (Reuters) - Rolling Stones singer Mick Jagger is in quarantine in the Netherlands after testing positive for COVID-19, a spokesperson told Reuters on Tuesday, adding the band will miss a second show on its "Stones Sixty" European tour.Jagger experienced symptoms after arriving at Amsterdam's Johan Cruyff Arena and Monday's performance was cancelled at the last minute.A concert scheduled for Friday in Bern, Switzerland has been postponed to a later date, the band said in a statement.Register now for FREE unlimited access to Reuters.comA spokesperson said that Jagger, 78, was adhering to a 5-day quarantining period in the Netherlands.Amsterdam was the fourth stop in the tour and followed an appearance in Liverpool on Thursday."The Stones Milan show on Tuesday, June 21 at San Siro Stadium goes ahead and will take place as scheduled," a statement said.Register now for FREE unlimited access to Reuters.comReporting by Anthony Deutsch and Mike Davidson, Editing by William MacleanOur Standards: The Thomson Reuters Trust Principles.

Mick Jagger quarantines with COVID, second Rolling Stones show scrapped.

SpaceX founder Elon Musk looks on at a post-launch news conference after the SpaceX Falcon 9 rocket, carrying the Crew Dragon spacecraft, lifted off on an uncrewed test flight to the International Space Station from the Kennedy Space Center in Cape Canaveral, Florida, March 2, 2019.Mike Blake | ReutersElon Musk will speak to Twitter employees this week for the first time at a company-wide meeting since launching his $44 billion bid in April, a source said on Monday, citing an email from Twitter Chief Executive Parag Agrawal to staff.The meeting is scheduled for Thursday, and Musk will take questions directly from Twitter employees, the source added.The news, first reported by Business Insider, comes after Twitter said last week that it anticipated a shareholder vote on the sale by early August.A Twitter spokesperson confirmed that Musk would attend the company all-hands meeting this week.Ever since Musk's takeover bid, many Twitter employees have expressed concerns that the billionaire's erratic behavior could destabilize the social media company's business, and hurt it financially.Back in April, Agrawal was seen quelling employee anger during a company-wide meeting where staff demanded answers to how managers planned to handle an anticipated mass exodus prompted by Musk.Last week, Musk warned Twitter that he might walk away from his deal to acquire the company, if it failed to provide the data on spam and fake accounts that he seeks.

Elon Musk to address Twitter employees for first time in town hall.

Alexandra Ryan-Yavaşca wanted to settle down in her childhood hometown of San Diego, California, to raise a family with her husband Utku. But due to soaring housing costs, the 34-year-old can't afford to live there like her parents — a teacher and public relations professional — could on middle-class salaries. Her childhood home, purchased in 1996 for more than $300,000, is now worth more than $1.2 million.More from Grow:This millennial quit her $180K job in Atlanta and moved to LisbonWhy this millennial picked Lisbon to build her ‘happiest life’Americans flocked to these states in 2021In the summer of 2021, the Yavaşcas moved to Lisbon, Portugal, citing the affordable cost-of-living and laid-back culture as key reasons."It's liberating to leave America," Alexandra says. "Where can you live in the center of the city in America and look at the ocean and eat fresh seafood and work in your freelance entrepreneur lifestyle?"Alexandra and Utku Yavaşca couldn't afford to settle in her childhood hometown of San Diego, California, so they moved to Portugal.Helen Zhao | CNBCThe Yavaşcas are part of a wave of expats and digital nomads settling in Portugal in search of a better life. The number of foreign citizens living in Portugal — more than 714,000 — is at an all-time high, making up about 7% of the population in 2021, according to the Portuguese Immigration and Borders Service.The number of Americans residing in Portugal is at its highest level in more than a decade, according to agency data. There were about 7,000 Americans living in the country at the end of 2021, more than double three years earlier. The U.S. is the 24th most represented country among foreign residents in Portugal.As the pandemic and remote work transform the way we live and work, people are moving and changing careers based on what fulfills them most.The number of foreign residents living in Portugal is at an all-time high.Portuguese Immigration and Borders Service"Previously, it seemed like Portugal was the destination to retire. And now it seems like it's a cool destination to just start over," says Mateusz Zurek, 35, who moved to Lisbon from Poland in early 2021 to co-found a restaurant with his American-Canadian business partner, Jahmarley Grant, 28. "The barrier to entry, to open a business is super low," Grant adds.The number of Americans living in Portugal is at its highest level in more than a decade. Portuguese Immigration and Borders ServiceI've spoken to dozens of people who moved to Portugal in the last few years, to start a new venture or revamp their lifestyle. Many spoke about their move with a sense of renewal and hope, like they could finally live the life they envisioned, one that seemed unattainable where they came from.What is it about this small European country, about as populous as the state of Georgia, that holds so much promise for so many people? In late 2021, I traveled to Portugal for the first time, to find out.I took in the red rooftops of Lisbon from one of the city's many viewpoints.Aziz TaziPortugal is cheaper than many Western countriesWhat many foreigners say draws them to Portugal is its low cost of living and high quality of life. If a basket of goods and services cost $1 in the U.S., it would cost 57 cents in Portugal, according to 2020 World Bank data.The reason Portugal is cheaper than many Western countries is because the country "is poorer," says Portuguese economist Ricardo Reis, a professor of economics at the London School of Economics and Political Science. "A lot of the costs of the services that you buy are labor costs. Portugal's poorer. Wages are lower. Therefore the costs of most things that require a lot of labor are cheaper."As an American tourist from Los Angeles, California, daily living in Portugal feels cheap. One evening, I enjoyed a three-course meal — including soup and salad, fresh fish, ice cream, and sangria — for about $17, in the small seaside town of Carvoeiro. A three-hour boat ride along the Algarve coast cost $30. An Uber ride across town in Lisbon at nearly 1 a.m. on a Friday night set me back about $19. In comparison, I cry inside anytime I need a late night Uber in Los Angeles or New York City, my previous home — typically costing me $50-$70.I took in epic views from Castelo dos Mouros in Sintra, Portugal.Aziz TaziI met a few Americans who have significantly upgraded their standards of living since settling in Portugal.Samantha Hayden says she always lived in a "closet-sized space" in Singapore and New York City. After moving to Lisbon in the summer of 2021, the 32-year-old consultant now rents a three-story house, complete with two offices, a dining room and a garage, just outside the city center.Shar Wynter spent three months in Lisbon in 2020, before officially relocating from Atlanta, Georgia in the summer of 2021. The 37-year-old's monthly expenses now range between $2,100-$2,500/month, compared with $4,000-$5,000/month in Atlanta. She spends $1,250/month on a renovated one-bedroom two-bathroom apartment in the city center, with a balcony and plenty of natural sunlight. In contrast, Wynter was paying $1,800/month for a studio apartment in Atlanta.Foreign residents also have access to the country's free national healthcare.Wynter lives in a one-bedroom, two-bathroom apartment in Lisbon's city center.Helen Zhao | CNBC'I came here for a lot of healing'Portugal is often referred to as "the California of Europe." Except you get California temperatures and beaches without California prices. I visited in October and enjoyed sunny 80-degree weather for 10 days straight.There's natural beauty, but also culture. Expats tell me they haven't struggled to assimilate. Much of the Portuguese population speaks English because they learn it in school from an early age and they're generally welcoming to foreigners.Portugal is also safe. The country ranks as the fourth-most-peaceful nation in the world on the Global Peace Index, which assesses things like crime rate, violent demonstrations, political stability, and involvement in domestic and international conflict. The U.S. ranks #122.Racial violence in the U.S. motivated Wynter and her friends to move to Portugal. "Black Americans will normally find that they're treated well here and won't have the same type of lethal racism that you see in the U.S.," Wynter says.Wynter says the black experience in Lisbon has been very pleasant.Helen Zhao | CNBC"I really came here for a lot of healing, honestly," says Diara Parker, a 32-year-old equity consultant who moved to Lisbon from Madison, Wisconsin in early 2021. "Healing from past traumas, healing from all of the things that make the U.S. the U.S. — that in a lot of ways keep us in these really rigid boxes. And for me, as a black woman doesn't really give me the space to thrive, and to be my full, authentic self."I also spoke to many expats recovering from burnout, who told me they're finally able to find personal fulfillment beyond work."I used to almost fear requesting vacation. And here, my office is shut in August," Hayden says. "Especially in a lot of big cities in the States, there's a real focus on the grind, and kind of getting ahead and rising up the ladder. I think here, there's definitely a much more balanced approach. Family is huge. Spending time with friends is huge."Samantha Hayden says she's found a lot more work-life balance in Portugal after leading a high-octane lifestyle in Singapore and New York City.Courtesy Samantha HaydenAs a freelancer living in Lisbon, Ryan-Yavaşca says she doesn't have to work eight-hour days to get by. That frees her up to prioritize her family and well-being."We alternate sometimes who works, who takes care of our child. And we don't have to check in with anyone," she says. "Coming from America, this is impossible. I couldn't just take days off, say I'm closing my computer for the next four days to go on a meditation retreat."Parker says she's finally learning to savor all the simple moments in life. "I never thought that I would enjoy hanging up my laundry outside … and to pull out the clothes and to smell the fresh air. To be able to focus on myself and thrive as a full human that's not just a worker bee is life-changing, really."Diara Parker moved to Portugal in early 2021 "for a lot of healing."Courtesy Diara Parker'I wouldn't have started this business in America'Despite the laid-back culture, a lot of young workers aren't moving to Portugal to slack off. It's somewhere many expats feel capable of taking a risk and starting a new venture.When you can afford to live somewhere comfortably without working around the clock, "I think it makes it a lot easier to have space to pursue your creative entrepreneurial desires and aspirations because you have time," Wynter says. In December 2021, she launched the Xpat App, a mobile app that connects black expats around the world.In 2021, the Yavaşcas launched Sebze Lisboa, an Anatolian and vegetarian kitchen that caters events, fills to-go orders and hosts pop-up dinners.Courtesy Alexandra Ryan-YavaşcaDuring the pandemic, Margo Gabriel was laid off from her job in academia. Then the 35-year-old moved from Boston, Massachusetts, to Lisbon in 2020, where she can finally "pursue a lot of my creative projects that I've had on the back burner for literally years," she says. Gabriel is now a full-time freelance food and travel writer, whose clients are mostly based in the U.S.In 2021, the Yavaşcas launched Sebze Lisboa, an Anatolian and vegetarian kitchen that caters events, fills to-go orders, and hosts pop-up dinners. "I wouldn't have started this business in America, because first of all, there's food regulations, business licenses, high fees to get things started," Alexandra says. "There's so much bureaucracy and red tape that you have to go through that I can't even imagine in two weeks, we could have a start-up business."In contrast, "starting businesses is quite easy in Portugal," says economics professor Reis. "You can open a business in one hour with a relatively limited amount of paperwork."Yavaşca says she wouldn't have started this business in America, due to the red tape involved in starting a new venture.Alexandra Ryan-YavaşcaPortugal is becoming increasingly known for its start-up scene, mostly concentrated in Lisbon. Funding to tech startups headquartered in the country grew to over €180 million in 2021, up from about €1.2 million in 2016, according to the 2021 Portugal Startup Outlook.According to the report, a third of founders who established startups in Portugal between 2015 and 2020 were not Portuguese.Many Portuguese locals 'are very frustrated'As more people come to start anew and build their dreams, Portugal as a country is also undergoing a dramatic transformation. I saw lots of cranes and construction in Lisbon, bringing to life the infrastructure necessary to serve the city's new inhabitants and visitors.In some ways, the city is getting a whole new lease on life. And in other ways, what makes Lisbon authentically Lisbon is being stripped away.Tech sales executive Luisa Pilo has lived in Lisbon on and off for more than 30 years. She says she has seen the city transform dramatically in that time — from a "quiet city, small town … in need of a lot of love" to a much more "cosmopolitan" hub.Pilo says the influx of new residents and tourists has resulted in a "better city, more mobility, better housing." She describes her life as "better, more colorful."Longtime Lisbon resident Luisa Pilo shows me what used to be a traditional Portuguese jewelry shop from the 1920s, that closed because it couldn't keep up with the rising cost of rent.Helen Zhao | CNBCBut not all this change is positive. Many locals and small businesses have been priced out of the city center due to rising rents. Furthermore, many apartments have been taken off the market and converted into short-term vacation rentals.Living in Portugal isn't cheap for those earning local wages. The monthly minimum wage is about $800. The average annual wage in 2020 was about $28,000, according to OECD data."They are very frustrated. If you talk to a lot of Portuguese, especially before the pandemic when tourism was booming, people were fed up," Pilo says.Overall, Reis says the growth in foreign residents and tourism has a positive impact on the country, because it stimulates the economy and helps create jobs. "You have people that come with high skills, that come with desires to create businesses, that come with buying locally produced goods," he says.Lifting Portugal out of recessionAttracting foreigners was all part of a government plan to help lift Portugal out of recession in the 2010s. As recently as 2015, people were not moving to Portugal for a better quality of life and more opportunity. In fact, young workers were leaving the country."Between 2010 and 2012, Portugal went through a fairly deep recession associated with a sovereign debt crisis," Reis says. "What that implied was that the lack of job opportunities, as well as quite large increases in taxes to pay for those past debts — led to many young professionals especially to leave the country looking for jobs, a little bit all over the European Union in particular."Unemployment peaked at about 18 percent in 2013, while GDP shrank three years in a row, between 2011 and 2013.Statistics Portugal, EurostatUnemployment peaked at about 18% in 2013, while GDP shrank three years in a row, between 2011 and 2013.To help stimulate the economy, Portugal welcomed immigration in a couple different ways: the relative ease of obtaining a residence visa and tax benefits for new foreign residents.  Moving to Portugal is relatively easyThe most common visa, the D7, requires applicants to show monthly income of at least the Portuguese minimum wage, currently €705. Demand for the D7 has "increased exponentially in the last two to three years," says Mary Kuffel, an investment advisor at Get Golden Visa.She notes the D7 is "very attainable" with proof of income, and getting one doesn't involve too much bureaucratic headache. The entire application and approval process typically takes around six to seven months, says Bernardo Corrêa de Sá, legal counsel for Get Golden Visa.Praça do Comércio is a popular tourist destination in Lisbon's city center.Imazins | Image Bank Film | Getty ImagesAnother increasingly popular option is the Golden Visa, for those who invest €250,000 to €1.5 million in real estate, an investment fund, a charitable donation, or other options.After five years of holding a residence visa, you can apply for permanent residency and then citizenship. The relative ease of obtaining a Portuguese visa makes it one of the most popular options for foreigners seeking a European passport, Kuffel says.Corrêa de Sá says he has numerous U.S. clients seeking D7 and Golden visas in order to obtain EU citizenship. "They want a plan B … for political reasons, for safety reasons."I hit the beach along the southern coast of Portugal, called the Algarve.Aziz TaziPortugal is incentivizing immigration by giving foreigners a tax break under what's called the non-habitual resident tax regime. New foreign residents are tax exempt on any taxable income they receive from abroad. That means, if I moved there, I would not pay taxes in Portugal on the income I earn from CNBC for the next 10 years, as long as I'm being taxed in the U.S.These incentives seem to have worked. But very few people I spoke to mentioned them as reasons for moving. Their motivation was the promise of a better life.Growing up, I mostly heard about people moving to the U.S. to chase the American dream. But now it seems like many Americans are chasing that dream elsewhere, like in Portugal. The article "‘A Cool Destination to Just Start Over’: Burned-out Millennials are Flocking to Portugal″ was originally published on Grow (CNBC + Acorns).

'A cool destination to just start over': Burned-out millennials are flocking to Portugal.

Dozens of companies and business organizations sent a letter to U.S. Congress members on Monday, urging them to support a bill that would rein in the biggest tech companies such as Amazon and Alphabet's Google.Last week, Democratic U.S. Senator Amy Klobuchar and lawmakers from both parties said they had the Senate votes needed to pass legislation that would prevent tech platforms, including Apple and Facebook, from favoring their own businesses.Companies supporting the measure, which include Yelp, Sonos, DuckDuckGo and Spotify, called it a "moderate and sensible bill aimed squarely at well-documented abuses by the very largest online platforms."Other signatories included the American Booksellers Association, the American Independent Business Alliance, the Institute for Local Self-Reliance and Kelkoo Group. Amazon.com, the Chamber of Commerce and others oppose the measure. Supporters urged lawmakers to pass the bill, saying it would modernize antitrust laws so smaller companies can compete.Last week, Klobuchar said she believed she had the 60 Senate votes needed to end debate and move to a vote on final passage. There is a similar bill in the House of Representatives."It's no surprise that Yelp and Spotify like the bill since it's designed to help them. But senators are telling us that they just aren't hearing their voters demanding changes to Amazon Basics and Google Maps," the pro-tech Chamber of Progress said in a statement.The tech giants have said the bill would imperil popular consumer products like Google Maps and Amazon Basics and make it harder for the companies to protect their users' security and privacy.Carl Szabo of NetChoice said the pressure being exerted to get a vote on the bill was a sign that it did not have enough support to pass. "This is a drowning bill's last gasp for air," he said.

U.S. bill to rein in Big Tech backed by dozens of companies including Spotify and Yelp.

World June 14, 2022 / 7:49 AM / AP Cargo shipping containers are seen in a storage area at Mexico's Manzanillo seaport in Colima state, in an undated file photo.  Walter Bibikow/Getty Mexico City — Thieves broke into a freight storage area at the Pacific coast seaport of Manzanillo and stole 20 freight containers loaded with partly refined gold and silver ore and television sets, the Mexican Employers Federation said Monday. José Medina Mora, president of the federation, said the large-scale robbery was a sign of rising crime in Mexico.   "There is a growing lack of safety, and this is a sign of what is happening in the country and it requires that authorities take action," Medina Mora said.   The state of Colima, where Manzanillo is, has not officially commented on the June 5 robbery.   But Horacio Duarte, the head of Mexico's customs service, confirmed the robbery and said organized crime was involved.   "This was a very serious organized crime operation," Duarte said. President Biden calls for unity at "Summit of the Americas" despite notable absences 04:04 According to local press reports, about 10 armed thieves forced their way into a private freight dispatch yard near the port, subdued employees and then took several hours to search for the shipping containers they wanted.   The thieves then apparently hooked up the containers to trucks and drove away with them. No sign of the containers, or their contents, has been seen since.   Freight theft is a serious problem in Mexico, but it usually involves thieves hijacking one truck at a time on highways — not driving off with 20 freight containers.   Articles like television sets are usually quickly sold off in the country's extensive black markets, but it was unclear where thieves could sell tons of partly processed gold or silver ore. Any refiner would be likely to ask questions about where it came from.   Prosecutors and police in Colima have had a more pressing problem on their hands, with residents blocking roads to protest kidnapping and killing of local people. Two police officers have also been shot to death so far this month in the state, which has been dominated by the Jalisco drug cartel. In: Organized Crime Mexico Cartel Crime Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Thieves disappear with 20 shipping containers full of gold and silver ore and TVs from Mexico seaport.

People walk past a sign of the Heaven Supermarket bar, where a coronavirus disease (COVID-19) outbreak emerged, in Chaoyang district of Beijing, China June 13, 2022. REUTERS/Carlos Garcia RawlinsRegister now for FREE unlimited access to Reuters.comBEIJING, June 14 (Reuters) - Authorities in China's capital warned on Tuesday that a COVID-19 surge in cases linked to a 24-hour bar was critical and the city of 22 million was in a "race against time" to get to grips with its most serious outbreak since the pandemic began.The flare-up means millions of people are facing mandatory testing and thousands are under targeted lockdowns, just days after the city started to lift widespread curbs that had run for more than a month to tackle a broader outbreak since late April. read more Authorities announced on the weekend a "ferocious" COVID outbreak linked to the Heaven Supermarket Bar, which had only just re-opened after coronavirus curbs were eased last week.Register now for FREE unlimited access to Reuters.comThe outbreak of at least 287 cases has raised new worries about the outlook for the world's second-largest economy. China is just recovering from a two-month lockdown in the city of Shanghai that had raised worries about global supply chains."We should go all out, race against time," He Lijian, spokesman for the Beijing municipal government, told a news conference, referring to efforts to contain the outbreak.Drinking and dining in most establishments in Beijing only resumed on June 6, after more than a month of measures such as take-out meals only and working from home, along with the closure of malls and stretches of the transport system.Authorities have refrained from restoring the toughest of the earlier restrictions, but about 10,000 close contacts of the customers of the bar have been identified and their residential buildings put under lockdown.Chaoyang, the city's largest district in which the bar is located, began a three-day mass testing campaign on Monday for its roughly 3.5 million residents.People infected in the latest surge in cases live or work in 14 of the capital's 16 districts, authorities have said.Police have launched a criminal investigation into the person in charge of the bar on suspected interference with epidemic prevention, Pan Xuhong, deputy director of the city's Public Security Bureau, told the news conference.'PROPAGATOR'Pan said three other people, two of whom had visited the bar and the other a close contact of bar customers, had been put under criminal investigation after they insisted on going out despite being ordered to isolate at home.The three were later confirmed to have been infected, which resulted in dozens of people being put into quarantine at centralised facilities and more than 2,000 under other COVID measures, Pan said.The bar's business license has been revoked after officials found it failed to comply with rules including checking customers' temperature and COVID test results, or making sure customers scan a digital health code, the market regulator in the Chaoyang district said on Tuesday.Earlier in the day, the state-backed Beijing Daily said a team of officials would work to investigate and deal with the Heaven Supermarket Bar "quickly, strictly and seriously".All of the city's bars, nightclubs, karaoke venues, internet cafes and other places of entertainment were being inspected, the newspaper said, with those in underground spaces being shut as epidemic prevention work is "tightened".The paper has repeatedly pointed the finger at an individual, dubbed Patient No. 1,991, for triggering the flare-up. Careless behaviour had turned the unidentified person into the "propagator" of the outbreak.Beijing authorities say the person did not take a COVID test between May 26 and June 8, despite visiting a number of restaurants, bars and crowded places at that time.The patient developed a fever by the evening of June 8, two days after a visit to Heaven Supermarket Bar.But despite the fever, the person returned to the bar early on June 9, the same day a handful of other bar patrons were found to be infected.Register now for FREE unlimited access to Reuters.comReporting by Martin Quin Pollard, Ryan Woo, Roxanne Liu and Beijing Newsroom; Editing by Kenneth Maxwell, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Beijing in 'race against time' to contain COVID surge.

Cryptocurrencies have taken a tumble in 2022.Chesnot | Getty ImagesA liquidity crisis at cryptocurrency lending firm Celsius has investors worried about a broader contagion that could bring down other major players in the market.Celsius recently moved to pause all account withdrawals, sparking fears that it may be about to go bust. The company lends out clients' funds similar to a bank — but without the strict insurance requirements imposed on traditional lenders.Bitcoin sank below $21,000 on Tuesday, extending sharp declines from the previous day and sinking deeper into 18-month lows. The total value of all digital tokens combined also dipped below $1 trillion for the first time since early 2021, according to CoinMarketCap data.Crypto investors fear the possible collapse of Celsius may lead to even more pain for a market that was already on shaky ground after the demise of $60 billion stablecoin venture Terra. Celsius was an investor in Terra, but says it had "minimal" exposure to the project.Celsius did not return multiple CNBC requests for comment."In the medium term, everyone is really bracing for more downside," said Mikkel Morch, executive director of crypto hedge fund ARK36.Read more about tech and crypto from CNBC Pro"Bear markets have a way of exposing previously hidden weaknesses and overleveraged projects so it is possible that we see events like last month's unwinding of the Terra ecosystem repeat."Monsur Hussain, senior director of financial institutions at Fitch Ratings, said a liquidation of Celsius' assets would "further rock the valuation of cryptoassets, leading to a wider round of contagion within the crypto sphere."Celsius has a large presence in the so-called decentralized finance space, which aims to recreate traditional financial products like loans without the involvement of intermediaries like banks.Celsius owns numerous popular assets in the DeFi world, including staked ether, a version of the ether cryptocurrency that promises users rewards on their deposits."If it goes into full liquidation mode, then it will have to close out these positions," said Omid Malekan, an adjunct professor at Columbia Business School.USDD, a so-called stablecoin that's meant to always be worth $1, fell as low as 97 cents Monday, echoing the woes of Terra's UST stablecoin last month. Justin Sun, the coin's creator, accused unnamed investors of "shorting" the token and pledged $2 billion in financing to shore up its dollar peg.Elsewhere, rival crypto lenders Nexo and BlockFi sought to downplay concerns over the health of their operations after Celsius announced its decision to halt withdrawals.Nexo said it had a "solid liquidity and equity position," and had even offered to acquire some of Celsius' loan portfolio — a proposal it says the company "refused." BlockFi, meanwhile, said all its services "continue to operate normally" and that it has "zero exposure" to staked ether.That doesn't mean it hasn't been impacted by the downturn, though — BlockFi this month laid off about 20% of its workforce in response to a "dramatic shift in macroeconomic conditions."Celsius' liquidity crunch has raised worries of possible knock-on effects in other financial markets.CDPQ, the manager of Canada's second-biggest pension fund, co-led an equity investment in Celsius earlier this year. In a statement Monday, the company said it is "closely monitoring the situation."Many analysts agree any spillover effects from the Celsius debacle are likely to be limited to crypto. "The biggest risk of contagion is within crypto markets themselves," Malekan said.Hussain of Fitch said the sell-off in crypto prices reflected a "shrinking of the entire crypto market," adding "contagion with the broader centralised financial system will be limited."

Investors worry another possible crypto collapse will bring down other key players.

Ukrainian President Volodymyr Zelenskiy attends a joint statement with European Commission President Ursula, as Russia's invasion of Ukraine continues, in Kyiv, Ukraine June 11, 2022. REUTERS/Valentyn OgirenkoRegister now for FREE unlimited access to Reuters.comCOPENHAGEN, June 14 (Reuters) - Ukraine's military has enough ammunition and weapons, but needs more long-range weapons, Ukrainian President Volodymyr Zelenskiy told Danish journalists on Tuesday."We have enough weapons. What we don't have enough of are the weapons that really hits the range that we need to reduce the advantage of the Russian Federation's equipment," Zelenskiy said at an online press briefing organized by Danish publishing house Berlingske Media.Register now for FREE unlimited access to Reuters.comReporting by Copenhagen newsroom; Editing by Catherine EvansOur Standards: The Thomson Reuters Trust Principles.

Ukraine has enough ammunition but needs long-range weapons, Zelenskiy says.

High water levels in the Gardner River erode Yellowstone National Park's North Entrance Road, where the park was closed due to heavy flooding, rockslides, extremely hazardous conditions near Gardiner, Montana, U.S. June 13, 2022. NPS | ReutersAll five entrances to Yellowstone National Park have been temporarily closed after unprecedented rainfall and flooding damaged the park's infrastructure, creating "extremely hazardous conditions." Park officials said the deluge has led to rockslides, mudslides, damaged roads and power outages. "Preliminary assessments show multiple sections of roads throughout the park have been either washed out or covered in mud or rocks, and multiple bridges may be affected," officials said in a statement. In this photo provided by the National Park Service, is a large rockslide on North Entrance Road in Gardner Canyon of Yellowstone National Park, Montana on Monday, June 13, 2022. All the entrances to Yellowstone National Park were temporarily closed Monday due to substantial flooding, rockslides and mudslides on roadways from recent unprecedented amounts of rainfall and flooding, park officials said.NPS | APThe park is shut to inbound visitor traffic through at least Wednesday as officials assess the damage. Forecasts are calling for even more rainfall, with the Yellowstone River already at record levels.Visitors began to be evacuated from the park on Monday afternoon. The highway between Gardiner and Mammoth in Montana is washed out trapping tourists in Gardiner, as historic flooding damages roads and bridges and floods homes along area rivers on Monday, June 13, 2022. NPS | AP"We will not know timing of the park's reopening until flood waters subside and we're able to assess the damage throughout the park. It is likely that the northern loop will be closed for a substantial amount of time," superintendent Cam Sholly said in a statement. A house falls into the Yellowstone river due to flooding in Gardiner, Montana, U.S., June 13, 2022 in this screen grab obtained from a social media video. Angie Lilly | Reuters"Strains on wastewater and water treatment facilities could become a factor and the park is taking precautions to ensure facilities are not failing," Yellowstone said in a statement.

Yellowstone National Park shuts to visitors due to 'extremely hazardous conditions' following rainfall, heavy flooding.

Tory Burch credits her business acumen to a piece of advice her grandmother gave her when she was young: "You never learn anything with your mouth open." The American businesswoman and philanthropist launched her namesake fashion label in 2004 — and she tells CNBC Make It that she quickly learned the importance of being "a good listener and a great networker" at the start of her career. "When I started this company, I had not gone to business or design school, and while I had access to capital, I didn't raise a lot of money," Burch says. "I went around to around 150 friends and family members and told them, 'Invest what you might be OK to lose,' because I was terrified of taking people's money." The best antidote to contempt and self-doubt, Burch adds, is "embracing your ambition" and setting a clear vision for your career. "Don't downplay your accomplishments, and think big," she says. "You also have to keep your head down and think of negativity as just noise."Burch's lifestyle brand is estimated to have sold at least $1 billion of clothing, shoes, accessories and fragrances last year, Forbes reports, but it's not the only venture under her belt. In 2009, the designer created the Tory Burch Foundation with a mission of investing in women-owned small businesses and supporting women's economic empowerment through access to loans, education and mentoring support.Burch emphasizes the importance of self-confidence in achieving career success, and hopes to help younger female entrepreneurs cultivate this skill. She has previously told CNBC that she got her "fair share of patronizing pats on the back" when she was first starting out. "I remember when I was meeting with potential investors — all of whom were men, by the way — I presented my business model, which had our foundation built into it," she recalled. "Purpose-led business was unheard of then, and it was dismissed as 'charity work' … They only made me more determined." The Tory Burch Foundation offers a year-long fellowship program, which helps founders of early-stage companies grow and scale through access to capital and a business education grant, among other resources, as well as an annual summit, which is happening on June 14 and features speakers like Julianne Moore and Mindy Kaling. Women still receive a small fraction of venture capital funding — according to recent research from PitchBook, female-founded companies received just 2.1% of venture capital dollars invested in the U.S. last year. It's a significant gap that Burch is hoping to help bridge through the fellowship program. "It's quite ironic because women are the best investments," she says. "Research has shown that they're reliable in paying back loans and are innovative business thinkers." She continues: "People still don't fully understand the positive impact women can have in all areas of business, whether it's as a CEO or a founder. But women are an essential part of what will help fix our economy in the wake of the Covid-19 pandemic, and fix our world."Check out:The 2 best pieces of advice to have a happier, more successful career, according to these co-CEOsHow the CEO of Planned Parenthood is preparing for a future without Roe v. Wade: 'We've been planning for this moment for years'Nearly 400,000 women joined the labor force in May—and women of color led the chargeSign up now: Get smarter about your money and career with our weekly newsletter

Tory Burch credits her business savvy to this 8-word piece of advice from her grandmother.

U.S. June 14, 2022 / 9:40 AM / CBS/AP Amber Heard's attorney on verdict Amber Heard's attorney Elaine Bredehoft on verdict and what's next 06:30 Amber Heard says she stands by the testimony she gave during a contentious six-week libel trial against former husband Johnny Depp, saying she has "always told the truth.""That's all I spoke. And I spoke it to power. And I paid the price," Heard said in her first post-verdict interview, two weeks after a jury awarded Depp more than $10 million and vindicated his allegations that Heard lied about Depp abusing her. WATCH: In part one of this exclusive interview, @SavannahGuthrie sits down with Amber Heard to talk about the defamation trial against ex-husband Johnny Depp. pic.twitter.com/LpgiISgv0F— TODAY (@TODAYshow) June 14, 2022 Depp sued Heard for libel in Virginia over a December 2018 op-ed she wrote in The Washington Post describing herself as "a public figure representing domestic abuse." His lawyers said he was defamed by the article even though it never mentioned his name. Though the jury sided with Depp, Heard was also awarded $2 million over her claim that one of Depp's attorneys defamed her. "To my dying day, I'll stand by every word of my testimony," Heard told NBC's "Today" co-host Savannah Guthrie, in an interview airing Tuesday and Wednesday. "I made a lot of mistakes, but I've always told the truth."Depp, who has not yet done a formal interview about the case, has said the verdict "gave me my life back." When referring to Depp's legal team, Heard said, "His lawyer did a better job at distracting the jury from the real issues."The verdicts brought an end to a televised trial that offered a window into a volatile marriage and both actors emerged with unclear prospects for their careers.On TikTok, Instagram and Twitter, the vast majority of comments criticized Heard. She called the social media frenzy that surrounded her case "unfair.""This is the most humiliating and horrible thing I've ever been through," Heard said in the Tuesday interview clip. Heard described a "toxic" marriage to Depp."I did do and say horrible, regrettable things throughout my relationship. I behaved in horrible, almost unrecognizable to myself ways. I have so much regret," she said.Earlier this month, her lawyer Elaine Charlson Bredehoft told "CBS Mornings" that Hear was "heartbroken" by the verdict."One of the first things she said when she came back from the verdict when we went into the conference room, was 'I am so sorry to all these women,'" Bredehoft recalled. "She felt like she had let down all of these women because she had more evidence than most people do. And yet they still didn't believe her."Bredehoft said there were some things that her team wishes they could have done differently. She added that she thinks the atmosphere of the trial was what played the ultimate role.   "We had cameras in the courtroom. Here, we had not only did we have a group of Depp fans that were there every day, 100 were allowed in, they lined up at one in the morning for wristbands to be in that courtroom, but we had everything on camera, and we had tremendous social media that was very, very, very much against Amber," said Bredehoft. Bredehoft said that Heard plans to appeal the verdict.  In: Johnny Depp Amber Heard Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Amber Heard says Johnny Depp's lawyer "did a better job at distracting the jury from the real issues".

U.S. Federal Reserve Chairman Jerome Powell testifies during the Senate Banking Committee hearing titled "The Semiannual Monetary Policy Report to the Congress", in Washington, U.S., March 3, 2022. Tom Williams/Pool via REUTERS/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON, June 14 (Reuters) - Federal Reserve Chair Jerome Powell used his first four years as the world's top central banker to reshape U.S. monetary policy around the idea that low inflation and low unemployment could coexist.It was a move intended to spread the gains of economic growth more widely and keep a focus on jobs during the rebound from the pandemic.But the assumptions on which it rested - a relatively frictionless global economy with a well-greased supply chain; a balanced U.S. labor market with just over one open job for each unemployed person - have been shattered by events that appear to have put the Fed's two goals of full employment and moderate inflation back in opposition.Register now for FREE unlimited access to Reuters.comReuters GraphicsUnemployment today at 3.6% is more akin to the 1950s and 1960s, with workers exercising leverage to negotiate higher wages and, given the pandemic, better working conditions. Inflation, however, is soaring at more than 8% annually, leaving Fed officials at a crossroads over how to tame it and facing the possibility that their "narrow path" back to the pre-pandemic world of low unemployment and low inflation may have all but closed.Fed officials are expected to raise interest rates for a third time this year on Wednesday, with a three-quarters-percentage point increase now seen as the likely outcome, with the possibility of signals for more large hikes as long as inflation keeps far overshooting their 2% target. [nL1N2Y02MC]In new projections, they will also provide their sense of what's at risk, and what price the economy could pay through slowing growth and higher unemployment to get inflation back into line.A HEYDAY FOR JOBSArguably Powell's approach did what was intended in the labor market. The employment rebound has been faster than many expected at the pandemic's outset.Distributionally, it has also helped, consistent with the Fed's view of maximum employment as something "broad and inclusive." Wages have risen fastest for lower-paid occupations; more Blacks and Hispanics are employed than before the pandemic, while white employment in May remained 1.6 million below February 2020's peak.Reuters GraphicsBack in March, Fed officials saw inflation receding with no unemployment rate increase, but "we're going to see some cracks" in that story in the new projections, predicted Nomura senior U.S. economist Robert Dent. The median projected unemployment rate may just rise a couple of tenths of a percentage point in coming years, as Fed officials hang onto their view of an economy that may still revert to pre-pandemic form.But "it is a tightrope...It would not be hard at all to see the economy tip into recession," with joblessness rising to 5% or higher, he said. Some Fed officials have started opening the door to unemployment rates above 4%, the level policymakers roughly consider full employment.That's likely to fall hardest on Black and Hispanic workers, whose unemployment rates typically rise faster in downturns.THE SAVINGS STOCKPILEOne unexpected outcome of the pandemic was a federal government response so strong that household incomes rose despite a recession. Some now argue the spending, in early 2021 in particular, left the economy with much more consumer demand than it can meet, adding to inflation.But it also offset what would have likely been rising poverty, hunger and homelessness. A lot of it, moreover, remains in household bank accounts. Data last week showed that through the end of March cash and checking deposits continued rising, to $4.4 trillion - more than triple the pre-pandemic level. read more Reuters GraphicsThat also provided a buffer: In a recent Fed household survey respondents said they are in the best financial shape ever.But, to some degree, it may have to be spent down to fix inflation - and may make the Fed's job harder as it gives people room to handle $5-a-gallon gas.The relationship between excess savings, its distribution across the economy, and people's willingness to use the cash to cover higher prices is a key issue in the Fed's inflation puzzle.LOW BANKRUPTCY RATESAnother pandemic shoe that never dropped: Bankruptcy rates fell as the Paycheck Protection Program and other initiatives kept firms alive.A recession or significant slowdown may well trigger the washout that never happened. According to data from Epiq, Chapter 11 commercial filings in May increased 34% from a year earlier, though overall commercial filings were down slightly.American Bankruptcy Institute Executive Director Amy Quackenboss in a statement said rising interest rates and higher prices had begun "compounding the economic challenges for financially distressed families and businesses."A RECESSION WITH NO SAFETY NET?As a result of the unprecedented effort to keep businesses and families afloat, the federal debt exploded. While the low-inflation, low-interest-rate environment of the last quarter century or so triggered a broad rethinking about public debt, some of the dynamics that argued for aggressive spending are now moving the other way. When rates on government debt exceed the rate of economic growth, for example, elected officials may not be so willing to roll out an expansive safety net next time.Given how soon that may occur - in a recent Reuters poll 40% of economists said they expect a downturn within two years - the Fed may also be constrained. It can cut rates, which may by then be high enough to provide a substantial economic boost. But it will still be carrying a very large balance sheet, run up to nearly $9 trillion during the pandemic, with policymakers less likely to begin using that second tool to support the economy.Register now for FREE unlimited access to Reuters.comReporting by Howard Schneider; Editing by Dan BurnsOur Standards: The Thomson Reuters Trust Principles.

The pandemic broke the Fed's model; this week may show how much.

Former U.S. President Donald Trump hosts a rally to boost Ohio Republican candidates ahead of their May 3 primary election, at the county fairgrounds in Delaware, Ohio, U.S. April 23, 2022. REUTERS/Gaelen Morse Register now for FREE unlimited access to Reuters.comWASHINGTON, June 14 (Reuters) - Voters in South Carolina and Nevada will pick candidates for the U.S. Congress and other offices in primaries on Tuesday, testing former President Donald Trump's power over the Republican Party ahead of the Nov. 8 midterm elections.Maine and North Dakota also hold nomination contests. Here are three key races to watch:SOUTH CAROLINA'S 7TH CONGRESSIONAL DISTRICTU.S. Representative Tom Rice was one of the few Republican lawmakers who voted to impeach Trump for his role in the Jan. 6, 2021 Capitol riot. Afterward, Trump endorsed state Representative Russell Fry to challenge Rice in the Republican nomination contest for the congressional seat. Fry's campaign raised more than $750,000 through May 25, pointing to a potentially competitive race with Rice who has raised nearly $2 million. The seat is expected to be an easy Republican win in the November general election.SOUTH CAROLINA'S 1ST CONGRESSIONAL DISTRICTTrump in February endorsed state Representative Katie Arrington's primary challenge against Republican U.S. Representative Nancy Mace, irked by Mace's public statement that Congress should consider censuring Trump for his role in the Capitol riot. Mace also refused to back Republican efforts to challenge the 2020 presidential election results. Newly-drawn district boundaries have led analysts to view the seat as safely Republican in November.NEVADA SECRETARY OF STATEThe Republican nominating contest for Nevada's top election official features former state assemblyman Jim Marchant, who has said he would have refused to certify Trump's presidential election loss in Nevada, citing a false allegation that it was stolen from Trump. Marchant's top competitor in the race could be former state Senator Jesse Haw, who has said Nevada's voting rules make it easy to cheat. Haw has called for an end to Nevada's practice of sending mail ballots to every voter, while Marchant proposes the state ditch vote-counting machines in favor of hand-counting ballots. The winner will face Democrat Cisco Aguilar, a former aide to former U.S. Senator Harry Reid, in what could be a close November contest.Register now for FREE unlimited access to Reuters.comReporting by Jason Lange Editing by Colleen Jenkins and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

Factbox: Three key races in South Carolina, Nevada midterm primaries.

In the past 20 years of my career, I've run many global teams at Fortune 500 companies. I know what it's like to be the only female executive in the room.Today, I coach CEOs at businesses ranging from startups to multimillion-dollar global corporations. And from what I've observed, no one takes the time to explain the "unwritten rules" of business and what it takes to get to the top. Here's one thing I wish more people did early in their careers: Learn how to nurture and navigate professional relationships.The 3 relationships you need to advance your careerNetworking is a lot more complex than you might think.Between my colleagues, clients and friends, I have seen too many early- and mid-career workers hit a professional wall because they don't understand the three most important types of relationships: mentors, advocates, and sponsors.Each has a distinct role:A mentor offers you counsel and advice, often based on their advanced experience. They don't need to be in your organization, but they should be able to offer insights into how you can be more successful at work.An advocate speaks in support of your work and talent, often informally. They may be a former manager who confirms your strong leadership skills, or a colleague who nudges a manager to consider you for a promotion.A sponsor is typically senior and has strong organizational power. They put their own reputation on the line to vouch for you. Sponsors generally work at your current company or at a company you'd like to work for.Many organizations have mentorship programs, but never a sponsorship program — even though I believe having a sponsor is the most important professional connection you can have. That means it's on you to find your own sponsors.Why having a sponsor is importantAnyone who is on the short list to be hired for a role is qualified. But what happens when three equally qualified people are competing for the same job? Often, the chosen person had a sponsor who made a strong case for them.I've seen the impact of having a sponsor in my own career. Over a decade ago, I was being considered for a managing director promotion at a global software company, where I'd be overseeing a $100 million business unit with more than 150 employees. The final decision came down to me and one other person. We were both equally qualified, but had very different skills.While my competitor had a mentor to guide her through the interview process, I had a senior executive who sponsored me. He essentially said: "I will put my reputation on the line to vouch for Liz. I am confident that she is the top person for the job."I got the job, and I exceeded expectations. More importantly, my sponsor ensured that my compensation was equitable to the other managing directors, who were all male.In one 2019 study by Payscale, Inc., people who had a sponsor were paid 11.6% more than those who did not, because sponsors are often the ones making pay and promotion decisions.How to find sponsors at workFinding sponsors can take trial and error. Starting to build meaningful relationships early on means more time to identify and network with the right people. Here are four ways to get started:1. Make a list.Think of everyone you know — friends, family, colleagues, teachers. Label each person as mentor, advocate or sponsor. Then update the list once a month.Understanding which relationships can fulfill which roles in your life helps you know where to invest your time and energy. Sometimes, mentors or advocates will turn into sponsors as your relationships deepen and they become more familiar with your work.2. Invest in your colleagues.Former colleagues are some of our strongest potential sponsors, as they have direct insight into your skills. Get to know your colleagues better. Invite them to coffee or lunch. Even some bantering at the beginning of a meeting can pay off.The best relationships are built on genuine connection. Ask people about their lives outside of work, and share with them stories of your own. Always be authentic and kind over being political.3. Join organizations focused on topics you love.Growing your network can happen outside of the office, too.The organizations you join do not need to be work-related — they just need to give you the opportunity to genuinely connect with others. You never know who you'll meet!4. Give back.The most effective professional relationships are mutually beneficial. When you're asking for mentorship, advocacy or sponsorship from someone, think about what you can offer them.Whether it's insight into a different market, an introduction or advice of your own, you must have something to give in return.Liz Taxin Nemiroff is the founder and CEO of Yellow Brick Advisors, where she helps investors and senior executives accelerate growth and drive scale. Previously, Liz spent a decade in senior management roles at Thomson Reuters. Liz started her career as an investment banker and strategy consultant at Merrill Lynch & Co., American Express and S&P Global. She holds an MBA from Harvard Business School and a B.A. from Harvard College.Don't miss:A 69-year-old founder of a billion-dollar company says adding this one word to his negative thoughts ‘changed my life’An Amazon applicant who Jeff Bezos hired ‘on the spot’ shares 5 ways to ‘instantly impress’ during the job interviewA Harvard-trained economist shares his top 21 money rules: ‘Own your home’ and ‘try to buy in cash’

I coach CEOs of multimillion-dollar businesses—here's what I wish more people did early in their careers.

SummaryMayor says some evacuations still possibleUkraine seeks howitzers, tanks and drones from WestReports gains against Russian forces in southKYIV, June 14 (Reuters) - Ukraine said on Tuesday its forces were still holding out inside Sievierodonetsk and trying to evacuate civilians, after Russia destroyed the last bridge to the devastated eastern city in a potential turning point in one of the war's bloodiest battles.Russia said it would give Ukrainian fighters holed up in a chemical plant inside the city a chance to surrender on Wednesday morning. Fighters should "stop their senseless resistance and lay down their arms" from 8 a.m. Moscow time, Interfax news agency quoted ​Mikhail Mizintsev, head of Russia's National Defence Management Centre, as saying.Civilians would be let out through a "humanitarian corridor", he said.Register now for FREE unlimited access to Reuters.comThe city's Ukrainian mayor, Oleksandr Stryuk, said: "The situation is very difficult but there is communication with the city" despite the last bridge over the Siverskyi Donets river having been destroyed. "Russian troops are trying to storm the city, but the military is holding firm."Ukraine says more than 500 civilians are trapped inside Azot, a chemical factory where its forces have resisted weeks of Russian bombardment and assault.Evacuations were still being carried out "every minute when there is a lull and there is a possibility of transportation," Stryuk said. "But these are discrete evacuations, done one by one, and every possible chance is taken."Regional governor Serhiy Gaidai said: "The shelling is so powerful that people can no longer stand it in the shelters, their psychological state is on the edge. The last few days, the residents are finally ready to go."Both sides claim to have inflicted huge casualties in the fighting over the city, Russia's main target in its battle for the east of the country after it failed to capture the capital Kyiv in March.Ukraine still holds Lysychansk, Sievierodonetsk's twin city on higher ground on the opposite bank. But with all the bridges now cut, its forces acknowledge a threat that they could be encircled in Sievierodonetsk. Russia's separatist proxies said any Ukrainian troops left behind must surrender or die.Damien Megrou, spokesperson for a unit of foreign volunteers helping to defend Sievierodonetsk, said there was a risk of leaving "a large pocket of Ukrainian defenders cut off from the rest of the Ukrainian troops" - as in Mariupol, the Black Sea port that surrendered last month after months of Russian siege.BRUTALThe battle for Sievierodonetsk - a city of barely more than 100,000 people before the war - is now the biggest fight in Ukraine as the conflict has shifted into a punishing war of attrition.Ukrainian servicemen ride American 155 mm turreted self-propelled howitzers M109, amid Russia's attack on Ukraine, in Donetsk region, Ukraine June 13, 2022. REUTERS/Gleb GaranichKyiv has said it is losing a staggering 100-200 soldiers killed each day, with hundreds more wounded. In an overnight address, President Volodymyr Zelenskiy described the battle for the eastern Donbas region - partly occupied by Moscow proxies since 2014 - as one of the most brutal in European history.Russia gives no regular figures of its own losses but Western countries say they have been massive, as Moscow has committed the bulk of its firepower to delivering one of President Vladimir Putin's stated objectives: forcing Kyiv to cede the full territory of two eastern provinces.Momentum in Sievierodonetsk has shifted several times over the past few weeks - with Russia concentrating its overwhelming artillery firepower on urban districts to obliterate resistance, then sending in footsoldiers vulnerable to counter-attacks.Bigger battles could lie ahead for the wider Ukrainian-held pocket of the Donbas, nearly all on the opposite bank of the river which Russian forces have found difficult to cross. Ukraine says Russia is massing to assault Sloviansk from the north and along a front near Bakhmut to the south.It has pleaded for the West to send more and better artillery."What we don't have enough of are the weapons that really hit the range that we need to reduce the advantage of the Russian Federation's equipment," Zelenskiy told Danish journalists at an online press briefing on Tuesday.Ukraine needs 1,000 howitzers, 500 tanks and 1,000 drones among other heavy weapons, Presidential Adviser Mykhailo Podolyak said on Monday. Western countries have promised NATO-standard weapons - including advanced U.S. rockets. But deploying them is taking time."In effect, (Ukraine) is wanting to field a new army, w/ western equipment, w/ unfamiliar processes, while fighting a war," tweeted Mark Hertling, a retired U.S. three-star general and former commander of U.S. ground forces in Europe."Make no mistake, UKR requires support from the US & NATO," he wrote. Ukraine "will win, but it will be a tough fight. And... supporters ought to understand the dynamics of what they're facing."Beyond the Donbas, Ukrainian officials hope that Russia's focus on capturing the east will drain its forces from other areas and pave the way for counter-attacks to recapture other territory.Ukraine recaptured the area around its second largest city Kharkiv in May and has reported small but steady gains in recent days in the south, the biggest swath Russia retains of the territory it seized after its invasion in February.Serhiy Khlan, adviser to the head of the southern, mainly Russian-occupied Kherson province, said Ukraine was having tactical success retaking territory there for a second straight week. Troops had already advanced 5 km (three miles) from Tavriysk, a town on the south bank of the Dnipro river east of Kherson city, and were gradually advancing, he said."We have tactical victories. They are turning into a counteroffensive. For the counteroffensive, we are waiting for the reinforcement of equipment from our partners," Khlan said. Reuters was unable to verify any reports from the area.Register now for FREE unlimited access to Reuters.comReporting by Reuters bureaux Writing by Peter Graff Editing by Gareth Jones and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

Ukraine says troops holding out in Sievierodonetsk after last bridge destroyed.

Politics June 14, 2022 / 10:22 AM / CBS News Jan. 6 panel focuses on Trump's false claims House Jan. 6 hearing focuses on Trump's baseless election fraud claims 08:27 Washington — The House committee investigating the Jan. 6 attack on the Capitol postponed the third of its series of high-profile hearings set for Wednesday, with one lawmaker citing "technical issues."Rep. Zoe Lofgren, a Democrat on the committee, said the delay is meant to give staffers more time to prepare the committee's extensive video presentations. "It's just technical issues. The staff putting together all the videos, you know, doing 1, 2, 3 — it was overwhelming. So we're trying to give them a little room to get their work done," Lofgren said on Capitol Hill.  The committee will meet on Thursday for a hearing that was already on the committee's calendar. Lofgren indicated the agenda and witness list for that meeting will remain the same. "It's not a big deal," she told reporters outside a meeting of House Democrats.Rep. Pete Aguilar, a Democrat of California, said the schedule has "always been fluid" and Wednesday's hearing will "likely" move to next week.  The panel met Monday for the second in its series of hearings examining the Jan. 6 attack and former President Donald Trump's role in undermining the results of the 2020 election. Lawmakers showed never-before-seen footage of interviews with top officials in the Trump administration and campaign who said the former president continued to baselessly allege the election was stolen, despite their best efforts to convince him otherwise.Rep. Liz Cheney, the committee's Republican vice chair, said last week that the session set for Thursday would examine Trump's efforts to pressure Vice President Mike Pence to reject the states' electoral votes when Congress met to count them on Jan. 6. Pence refused, saying he had no power under the Constitution to take such a drastic step. Cheney said the committee will feature testimony from Pence's chief of staff and general counsel about Trump's pressure campaign.Wednesday's hearing was meant to examine efforts by Trump and others to influence the Justice Department to overturn the election results, particularly a campaign to replace the acting attorney general with a Justice Department official who would baselessly allege that the department had uncovered widespread fraud. Monday's hearing came with its own complications, after one of the witnesses who was set to testify had to abruptly pull out. Bill Stepien, Trump's campaign manager in 2020, had to rush to be with his wife who had gone into labor, his lawyer said. The committee instead played video clips of Stepien's closed-door interviews with committee investigators.  Nikole Killion and Rebecca Kaplan contributed reporting. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Jan. 6 committee postpones Wednesday hearing due to "technical issues".

World June 14, 2022 / 8:30 AM / CBS/AP Court upholds U.K. deportation plan U.K. court upholds plan to deport undocumented migrants to Rwanda 03:17 London — British Prime Minister Boris Johnson beat back criticism of his plan to send asylum-seekers to Rwanda on Tuesday, saying that efforts to block the flights were "abetting the work of criminal gangs" involved in smuggling people across borders.   Johnson's government announced the deal with Rwanda in April as an effort to reduce the record numbers of people making the perilous journey across the English Channel to the U.K.Under the agreement, Britain will deport people who enter the U.K. illegally to the East African country in exchange for millions of dollars worth of development aid. The government contends this will deter people from paying criminals to help them take the risky journey across the Channel in small boats. Migrant boat sinks off coast of northern France, killing 27 people 01:48 The policy has faced a series of legal challenges, but two British courts decided not to block the deportation flights, rejecting on Monday last-ditch appeals filed by immigration rights advocates and labor unions. The nation's Supreme Court dismissed the latest appeal on Tuesday, with judge Robert Reed saying the deported migrants could be brought back to the U.K. again if a judicial review in July finds the policy unlawful. "Rwanda will take all reasonable steps in accordance with international human rights standards to make a relocated individual available for return to the United Kingdom should the United Kingdom be legally obliged to facilitate that person's return," Reed said, according to the Reuters news agency. "In the light of that assurance, and for the reasons that I've explained, the court refuses permission to appeal."The first flights were expected to depart Tuesday, though perhaps with only a handful of people aboard.   "I think that what the criminal gangs are doing, and what those who effectively are abetting the work of the criminal gangs are doing, is undermining people's confidence in the safe and legal system, undermining people's general acceptance of immigration," Johnson said before a meeting of his Cabinet Britain's Prime Minister Boris Johnson (C) chairs a cabinet meeting at 10 Downing Street in London on June 14, 2022. ALBERTO PEZZALI/POOL/AFP/Getty The prime minister insisted the government would not be cowed by those attacking the strategy and told his cabinet ministers that "we are going to get on and deliver" the plan. The plan has sparked heated protest in the U.K. The leadership of the Church of England has joined the opposition, and newspaper reports say Prince Charles has also waded into the issue. The heir to the throne privately described the Rwanda policy as "appalling," the Times reported over the weekend, citing an unidentified source. A protester holds a "Stop Rwanda flight" placard during a demonstration outside the U.K. Home Office against a plan to send asylum-seekers to Rwanda. Vuk Valcic/SOPA Images/LightRocket/Getty Filippo Grandi, the U.N. high commissioner for refugees, has also lashed out at the policy, describing it as "all wrong." If the British government is truly interested in protecting lives, it should work with other countries to target the people smugglers and provide safe routes for asylum seekers, not simply shunt migrants to other countries, Grandi said.   While a major precedent is at stake, the number of people immediately affected by the cases has been steadily whittled down as lawyers challenge the merits of each deportation order. British media reported that the number of migrants scheduled to be on a Tuesday night flight is now seven, down from 31 migrants told last week they would be leaving.   Foreign Secretary Liz Truss earlier said that the first deportation flight to Rwanda would take off Tuesday, regardless of how many people were on board.   "I can't say how many people will be on the flight, but the really important thing is that we establish the principle and we start to break the business model of these appalling people traffickers who are trading in misery," Truss told Sky News. The Hope Hostel accommodation in Kigali, Rwanda where migrants from the U.K. are expected to be taken when they arrive is seen on June 14, 2022. Victoria Jones/PA Images/Getty The comments came as 25 Church of England bishops, including Archbishop of Canterbury Justin Welby, wrote an open letter describing the deportation plans as an "immoral policy that shames Britain."   "The shame is our own, because our Christian heritage should inspire us to treat asylum-seekers with compassion, fairness and justice, as we have for centuries," the bishops wrote in the letter to the Times of London. In: boris johnson Immigration Rwanda refugee United Kingdom Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

U.K. to start controversial program flying asylum-seekers to Rwanda.

People visit Ford's all-electric SUV Mustang Mach-E at the 2019 Los Angeles Auto Show in Los Angeles, the United States, Nov. 22, 2019.Xinhua via Getty ImagesDETROIT – Ford Motor is instructing dealers to temporarily stop selling electric Mustang Mach-E crossovers due to a potential safety defect that could cause the vehicles to become immobile.Ford, in a notice Monday to its dealers, said potentially affected vehicles include 2021 and 2022 Mach-Es that were built from May 27, 2020, through May 24, 2022, at the automaker's Cuautitlan plant in Mexico. That's essentially since the automaker started producing the electric vehicle. It's unclear whether all of the nearly 100,000 vehicles produced during that time will need to be recalled.The problem involves a potential overheating of the vehicle's high voltage battery main contactors, which is an electrically controlled switch for a power circuit. The issue can lead to a malfunction that could cause the vehicle not to start or immediately lose propulsion power while in motion, the notice states.The recall is notable, as automakers continue to have problems launching new electric vehicles. Ford, in recent years, also has experienced problematic vehicle launches, leading to high recall and warranty costs.Ford has issued a handful of recalls regarding the Mach-E since its launch, according to the National Highway Traffic Safety Administration's website. They've ranged from a software error causing unintended acceleration in less than 500 vehicles earlier this year to problems with loose subframe bolts and inadequate bonding for thousands of the vehicle's glass panel roofs.Ford expects to have a solution for the problem in the third quarter, according to the bulletin. Mustang Mach-E owners will be notified via mail after repair instructions and parts ordering information have been provided to dealers.

Ford issues stop-sale of electric Mustang Mach-E crossovers due to potential safety defect.

Reed Hastings, co-founder and chief executive officer of Netflix Inc., during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, Oct. 18, 2021.Kyle Grillot | Bloomberg | Getty ImagesIn the foreword to Hamilton Helmer's "7 Powers: The Foundations of Business Strategy," published in 2016, Netflix co-founder and co-CEO Reed Hastings describes what happens when market leaders don't adjust to new competitive forces."Throughout my business career, I have often observed powerful incumbents, once lauded for their business acumen, failing to adjust to a new competitive reality," Hastings writes. "The result is always a stunning fall from grace."Six years later, Hastings finds himself in the role of an incumbent that has, for the moment, experienced a stunning fall from grace. Netflix shares have fallen more than 70% year to date. The company announced in April it expects to lose 2 million subscribers in the second quarter. Investors have sold in droves as they question the size of the total addressable streaming market — a number Netflix has previously said could be as high as 800 million. As of the latest count, Netflix has about 222 million global subscribers.Netflix executives are now reflecting on how they failed to adjust to a new competitive reality, one which was masked by massive subscriber gains during the Covid pandemic when billions of people around the world were stuck at home. While the company has consistently churned out big hits, such as "Stranger Things" and "Squid Game," Netflix is rethinking many of the philosophies that disrupted the industry more than a decade ago.The change in strategy, even on the margins, is a surprising one for a company best known for disrupting two industries — first video rental and then cable TV. Instead of inventing new ways to upend what's become a crowded streaming video industry, Netflix is reconsidering nearly all of the ways it stood out from legacy media companies in the first place.In other words, Hastings has decided his best strategy now is to un-disrupt."It's notable that Netflix is seeking growth by rethinking many of its firmly held beliefs," said Joel Mier, Netflix's director of marketing from 1999 to 2006 and a lecturer in marketing at the University of Richmond. "These decisions will clearly help revenue and subscriber growth in the short- to mid-term. The larger question is how they will impact the firm's brand over the long-term."Netflix declined to comment.Embracing advertisingHastings has long proclaimed Netflix's aversion to advertising is due to the added complexity of the business."Advertising looks easy until you get in it," Hastings said in 2020. "Then you realize you have to rip that revenue away from other places because the total ad market isn't growing, and in fact right now it's shrinking. It's hand-to-hand combat to get people to spend less on, you know, ABC and to spend more on Netflix. We went public 20 years ago at about a dollar a share, and now we're [more than] $500. So I would say our subscription-focused strategy's worked pretty well."Netflix is no longer more than $500 a share. It closed at $169.69 on Monday.Since making that comment in 2020, Hastings has watched other streaming services, including Warner Bros. Discovery's HBO Max, NBCUniversal's Peacock and Paramount Global's Paramount+, launch lower-priced services with ads without a consumer backlash. Disney plans to unveil a cheaper ad-supported Disney+ later this year.A sign is posted in front of Netflix headquarters on April 20, 2022 in Los Gatos, California.Justin Sullivan | Getty ImagesIn April, Hastings announced he'd changed his mind. An ad-supported Netflix "makes a lot of sense" for "consumers who would like to have a lower price and are advertising tolerant," he said.Netflix has previously argued it found a gap in the market by not worrying about advertising. Niche shows, which wouldn't play well with advertisers, who want scale, could be valuable for Netflix if they brought in enough subscribers relative to production budgets.It remains to be seen whether Netflix will offer its full slate of content on an ad-supported service or if certain shows will be walled off for no-ad subscribers only.Developing showsPart of Netflix's pitch to content creators has been ordering "straight to series," rather than making traditional pilot episodes of shows and judging them based on a hard product. Other streamers have followed suit after seeing Netflix attract A-list talent by skipping pilots."If you're a typical studio, you raise money for a pilot, and if it tests well, you pick up the show, maybe you make a few more episodes, and you wait for the ratings," Barry Enderwick, who worked in Netflix's marketing department from 2001 to 2012 and who was director of global marketing and subscriber acquisition, told CNBC in 2018."At Netflix, our data made our decisions for us, so we'd just order two seasons. Show creators would ask us, 'Do you want to see notes? Don't you want to see a pilot?' We'd respond, 'If you want us to.' Creators were gobsmacked."Ordering projects straight to series gave writers and producers certainty and, frequently, more money. The downside, Netflix has found, is it's also led to series that didn't turn out to be very good. Deadline noted 47 different examples of Netflix ordering straight to series in 2020-21 and 20 for 2022. While a few are notable, such as "The Witcher: Blood Origin" and "That '90s Show," most have generated little buzz.Netflix plans to start ordering more pilots and slow down on its straight-to-series development process, according to people familiar with the matter. The hope is the end result will lead to higher-quality programming and less fluff.Netflix doesn't plan to lower its overall budget on content. Still, it does intend to reallocate money to focus on quality after years of adding quantity to fill its library, the people said. Executives have added more original programming in recent years to avoid a lasting reliance on licensed content — much of which has been pulled back by the media companies who own it to fill their own streaming services.Appointment viewingAnother Netflix hallmark has been its long-held decision to release full seasons of series all at once, allowing users to watch episodes at their own pace."There's no reason to release it weekly," co-CEO Ted Sarandos said in 2016. "The move away from appointment television is enormous. So why are you going to drag people back to something they're abandoning in huge numbers?"Netflix co-CEO Ted Sarandos attends the Allen & Company Sun Valley Conference on July 08, 2021 in Sun Valley, Idaho.Kevin Dietsch | Getty ImagesStill, in recent years, Netflix has experimented with weekly releases for some reality shows instead of bulk drops. Thus far, this hasn't extended to scripted streaming."We fundamentally believe that we want to give our members the choice in how they view," Peter Friedlander, Netflix's head of scripted series for U.S. and Canada, said earlier this month. "And so giving them that option on these scripted series to watch as much as they want to watch when they watch it, is still fundamental to what we want to provide."But people familiar with the matter said Netflix will continue to play around with weekly releases for certain types of series, such as reality TV and other shows based on competition.Netflix's resistance to weekly scripted release may be the next thing to go.Live sportsNetflix has always rejected bidding on live sports, a staple of legacy media companies."To follow a competitor, never, never, never," Hastings said in 2018. "We have so much we want to do in our area, so we're not trying to copy others, whether that's linear cable, there's lots of things we don't do. We don't do (live) news, we don't do (live) sports. But what we do do, we try to do really well."Yet, last year, Hastings said Netflix will consider bidding on live Formula One rights to pair with the success of its documentary series "Drive to Survive," which profiles each racing season.Max Verstappen of the Netherlands driving the (1) Oracle Red Bull Racing RB18 to the grid before the F1 Grand Prix of Emilia Romagna at Autodromo Enzo e Dino Ferrari on April 24, 2022 in Imola, Italy.Dan Istitene - Formula 1 | Formula 1 | Getty Images"A few years ago, the rights to Formula 1 were sold," Hastings said to German magazine Der Spiegel in September. "At that time we were not among the bidders, today we would think about it."This month, Business Insider reported Netflix has been holding talks with Formula One for months for U.S. broadcast rights.Adding live sports may give Netflix a new audience base, but it flies in the face of Netflix's recent aversion to spending big money on licensed programming.Limiting password sharingFor many years, Netflix dismissed password sharing as a quirky side issue that merely demonstrated the popularity of its product. In 2017, Netflix's corporate account tweeted "Love is sharing a password."But as Netflix's growth has slowed, executives see password-sharing crackdowns as a new engine to reinvigorate revenue growth. "We're working on how to monetize sharing. We've been thinking about that for a couple of years," Hastings said during the company's April earnings conference call. "But when we were growing fast, it wasn't the high priority to work on. And now, we're working super hard on it."Over the next year, Netflix plans to charge accounts that are clearly shared with users outside the home additional fees."We're not trying to shut down that sharing, but we're going to ask you to pay a bit more to be able to share with her and so that she gets the benefit and the value of the service, but we also get the revenue associated with that viewing," Chief Operating Officer Greg Peters said during the same call, adding it will "allow us to bring in revenue for everyone who's viewing and who gets value from the entertainment that we're offering."CNBC reported earlier on how the password-sharing crackdown is likely to work.No longer pure-play streamingNetflix has become famous for its 2009 culture presentation, which laid out the company's values. One of the company's core tenets speaks to innovation. "You keep us nimble by minimizing complexity and finding time to simplify."Netflix has benefited from being a pure-play streaming company for years. While other media companies, such as Disney, have lagged because of a conglomerate discount and slow-growing or declining legacy assets, investors have loved Netflix's one-trick pony: streaming growth.But that, too, is slowly changing. Netflix announced last year it's dabbling in video games. Netflix currently has 22 video games on its platform and aims to have 50 by year end.Adding a new vertical to streaming video may help Netflix give investors a new reason to bet on the company's future growth. But it also potentially cuts at a long-held Hastings' tenet: that focusing on movies and TV shows is what sets Netflix apart."What we have to do is be the specialty play," Hastings told CNBC in 2017. "We focus on how do we be, really, the embodiment of entertainment, and joy, and movies and TV shows."WATCH: Netflix is probably best positioned among streamers in recession environment, traders say— CNBC's Sarah Whitten contributed to this story.Disclosure: NBCUniversal is the parent company of NBC and CNBC.

Netflix, once the great disruptor, is now taking ideas from the industry it upended to jumpstart growth.

A thirteenth century anti-Semitic sculpture is displayed at St. Marien church in Wittenberg, Germany, January 24, 2020. REUTERS/Annegret HilseRegister now for FREE unlimited access to Reuters.comBERLIN, June 14 (Reuters) - Germany's top court ruled on Tuesday that an anti-Semitic, medieval sculpture can stay on the facade of a church in the eastern town of Wittenberg, rejecting an appeal by a Jewish plaintiff who has for years argued it is an insult to all Jews.The 13th century "Judensau" or "Jew Sow" on the town church depicts a caricature of a rabbi lifting the tail of a sow and two Jewish children suckling on the teats. Pigs are considered unclean in Judaism.At a time when politicians are warning about rising anti-Semitism in Germany, the ruling is a reminder of widespread anti-Jewish sentiment in the Middle Ages.Register now for FREE unlimited access to Reuters.comThe plaintiff has been waging a court battle for years to have the sandstone carving, about 4 metres from the ground, removed.However, the Federal Court of Justice, the country's top appeals court, upheld rulings from lower courts which dismissed the case, saying there was no breach of the law.The transformation over the years of the relief into a memorial that was testimony to the Christian Church's centuries-long anti-Jewish attitudes was one way to avoid a violation of the law, said the court in a statement.In November 1988, fifty years after Kristallnacht when Jewish property was set alight and destroyed in Nazi Germany, the church installed a bronze plaque under the relief remembering the six million Jews who perished in the Holocaust and an information board.The Wittenberg stone carving is one of about two dozen similar sculptures from the Middle Ages that still feature on churches around Germany and elsewhere in Europe.The Central Council of Jews said it understood the court's decision but that, in its view, the floor plate and explanatory display did not go far enough and the church must acknowledge its guilt and condemn its centuries-long anti-Judaism."The defamation of Jews by the church must be a thing of the past once and for all," said Council President Josef Schuster.Wittenberg was also the town where Martin Luther is said to have nailed his theses challenging Catholicism to a church door in 1517 which led to the Protestant Reformation in Germany.Register now for FREE unlimited access to Reuters.comReporting by Madeline Chambers Editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

Anti-Jewish medieval sculpture can stay on church, top German court rules.

Apple 13-inch MacBook Pro with M2AppleApple's new 13-inch MacBook Pro with the next-generation M2 chip goes on sale Friday, June 17, and will begin arriving to customers and in stores on June 24. It starts at $1,299.It's the first computer to launch with the M2 chip, which was announced during Apple's developer conference, WWDC, earlier this month. The new MacBook Air will also feature an M2 chip, but a release date for that computer hasn't been announced yet.The M2 chip offers improved graphics performance over the M1 with a 10-core GPU, or graphics processing unit, and can be configured with up to 24GB of memory for professionals who need to run lots of programs and tasks at the same time.Still, the 14-inch and 16-inch MacBook Pro models can be configured with an M1 Pro or M1 Max chip and more storage, RAM, processing and graphics cores than the 13-inch MacBook Pro with M2, which means people who need even more power may be better off with those computers.Aside from the chip, the computer is otherwise largely unchanged from its predecessor. It has the same screen, design and camera, for example, and it still has Apple's Touch Bar, which isn't available in the 14-inch and 16-inch MacBooks Pro. It has the same battery life, too.

Apple's new 13-inch MacBook Pro with M2 chip goes on sale Friday.

U.S. June 14, 2022 / 10:11 AM / CBS News Staffers are being hailed after their quick response helped keep children safe when a gunman opened fire Monday at a Texas sports complex where a summer camp was being held, police said.  The Duncanville Police Department said they received calls Monday morning about a man with a handgun at the Fieldhouse, and officers arrived in less than three minutes. After they located the suspect, officers exchanged gunfire with the gunman and wounded him. He was taken to a nearby hospital, where he was pronounced dead.A summer camp for 4- to 14-year-olds was starting its second week at the complex when the shooting happened. Police praised the staff for flawlessly following lockdown procedures at the camp, which has about 250 kids and staff."Due to the clear-headed actions of staff and the quick response time of law enforcement, there were no additional injuries," Duncanville police said.  Duncanville Police Assistant Chief Matthew Stogner said at a news conference that the gunman entered through the main lobby of the Fieldhouse and gunfire erupted after a staff member confronted the shooter. After hearing the gunshots, camp counselors moved the children into a safe area and began locking the doors, Stogner said. The suspect then went on and fired one round into a locked classroom with children inside, he said. "Fortunately, no one was injured," Stogner said.  Children were transported from the Fieldhouse to the Duncanville Recreation Center, which was established as a reunification center. All children were picked up by parents or guardians. Duncanville Mayor Barry L. Gordon said the gunman was looking for a woman, CBS Dallas-Fort Worth reports. The Texas Department of Public Safety will investigate the officer-involved shooting. The incident comes less than a month after the Uvalde school massacre where 19 students and two teachers were shot and killed, raising concerns over law enforcement response.  In: Texas Christopher Brito Christopher Brito is a social media producer and trending writer for CBS News, focusing on sports and stories that involve issues of race and culture. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Police hail "clear-headed actions" of staff who protected young campers from gunman who fired shots at sports complex.

Guy Benhamou sends a picture of gas prices to friends while pumping gas at an Exxon Mobil gas station on June 09, 2022 in Houston, Texas.Brandon Bell | Getty ImagesIf you're self-employed or own a small business, you may soon be eligible for a little relief from soaring gas prices.Starting on July 1, the standard mileage rate — used to deduct eligible business trips in a vehicle on tax returns — increases by 4 cents to 62.5 cents per mile, according to the IRS. The new rate applies to trips during the second half of 2022.The rate for medical trips or active-duty military moving will also increase by 4 cents, allowing eligible filers to claim 22 cents per mile. But the rate for charitable organizations remains unchanged at 14 cents.More from Personal Finance:401(k) savers will get a 'wake-up call' in their next statement Last chance for some tax filers to avoid late penalties is June 15The pandemic stimulus checks were a big experiment. Did it work?"The IRS is adjusting the standard mileage rates to better reflect the recent increase in fuel prices," IRS Commissioner Chuck Rettig said in a statement.The change comes as gas prices continue to hit records, swelling to more than $5 per gallon nationally, sparked by an increased demand and shortages partially caused by the war in Ukraine.Annual inflation grew by 8.6% in May, the highest increase since December 1981, according to the U.S. Bureau of Labor Statistics, with surging fuel costs significantly contributing to the gain. Midyear mileage changes are 'unusual'"It is unusual for the IRS to have a midyear change in the standard mileage rate," said certified financial planner Tricia Rosen, principal at Access Financial Planning in Andover, Massachusetts.There's only been a half-yearly shift three times since 2008, she explained, with the most recent one in 2011. Each one happened after a spike in gas prices, she said.It is unusual for the IRS to have a midyear change in the standard mileage rate.Tricia RosenPrincipal at Access Financial PlanningTo claim the deduction, keep good driving recordsWhile it's always important to track mileage, including travel dates, it will be even more critical in 2022 to make sure the correct rates apply to each trip, Rosen said. The standard mileage rate isn't mandatory, according to the IRS. Taxpayers also have the option to calculate actual costs, which involves deducting a percentage of the vehicles' total expenses. But either way, you'll need detailed record-keeping."The IRS wants to see a logbook of business, medical and personal miles in order to prove that you are entitled to the deduction," said Laurette Dearden, a CFP and CPA at the firm in her name in Laurel, Maryland. You'll need to show the beginning and ending mileage, the business or medical purpose for the trip and the date in your logbook. But realistically, very few people keep these kinds of records, she said.However, you can use mobile apps to automatically track mileage, which may make it easier at tax time, she suggests.

IRS boosts standard mileage rate deduction to 62.5 cents per mile, a 4 cent hike, as gas soars to more than $5 a gallon.

Empty chairs are seen before the opening public hearing of the U.S. House Select Committee to Investigate the January 6 Attack on the United States Capitol, on Capitol Hill in Washington, U.S., June 9, 2022.Jonathan Ernst | ReutersThe House select committee investigating the Jan. 6 Capitol riot is postponing its third hearing, which was scheduled on Wednesday and was expected to detail how former President Donald Trump allegedly pushed the Department of Justice to spread his false claims that the 2020 election was rigged against him.Former acting Attorney General Jeffrey Rosen and ex-DOJ officials Richard Donoghue and Steve Engel were expected to testify in person at the hearing, NBC News reported, citing Rosen's attorney.The committee hasn't set a new date for the hearing, but it's already scheduled to hold a separate hearing on Thursday, the committee said.It was unclear from the panel's statement whether those witnesses will be moved to Thursday or another date, and a spokesman for the committee did not immediately return a request for comment.The committee kicked off a series of seven hearings last Thursday detailing its initial findings from an almost year-long investigation of the Jan. 6, 2021 attack, when a violent mob of Trump's supporters stormed the U.S. Capitol. The riot sent members of Congress fleeing for safety and delayed lawmakers from confirming President Joe Biden's Electoral College victory.The nine-member panel seeks to show that Trump is chiefly to blame for the riot by placing him at the center of a multi-pronged conspiracy to overturn his loss in the 2020 election.On Monday, the committee released details that focused heavily on the wide array of election-fraud conspiracies that Trump and some of his allies seized on and spread widely to try to convince the public that the election was stolen.The committee played a lengthy series of clips from interviews with former Trump officials, including former Attorney General William Barr who repeatedly told the former president that he lost to Biden legitimately and warned Trump against making meritless claims of fraud."I told him that it was crazy stuff and they were wasting their time on that and it was doing a grave disservice to the country," Barr told investigators."I was somewhat demoralized, because I thought, boy, if he really believes this stuff, he has lost contact with — he's become detached from reality if he really believes this stuff," Barr said at another point. "There was never an indication of interest in what the actual facts were."The now-postponed hearing on Wednesday was supposed to show how Trump tried to "corruptly" wield the DOJ as part of his bid to challenge the 2020 election, and how the agency's leaders pushed back on him, committee Vice Chair Liz Cheney, R-Wyo., said last week.Cheney, one of two Republicans on the panel, suggested that hearing would detail Trump's attempt to install Jeffrey Clark, a DOJ lawyer, as acting attorney general and have him send letters to key states falsely claiming that the government has found evidence that could impact the election results.The hearing would reveal how top officials in the DOJ threatened to resign and confronted Trump and Clark in the Oval Office, Cheney said.She also suggested that the hearing would shed new light on efforts by some Republican lawmakers to secure presidential pardons "for their roles in attempting to overturn the 2020 election." She has already named Rep. Scott Perry, R-Pa., who allegedly tried to get Clark promoted. Perry has refused to testify before the committee.It is unclear whether the topic at Thursday's hearing will be the DOJ, or whether the committee will move on to its next scheduled area of focus: how Trump pressured then-Vice President Mike Pence to reject Electoral College votes.

Jan. 6 committee postpones hearing on Trump's alleged push for DOJ to influence 2020 election.

Doses of the Pfizer-BioNTech vaccine against the coronavirus disease (COVID-19) for children are prepared at a children doctor's practice in Maintal near Frankfurt, Germany, December 15, 2021. REUTERS/Kai PfaffenbachRegister now for FREE unlimited access to Reuters.comSummaryCompaniesEastern states sent letter urging tweaks in vaccine contractsEU Commission warns that contracts must be respectedExtension in schedule of deliveries deemed insufficientGovernments warn vaccines are likely to be wastedBRUSSELS, June 14 (Reuters) - European Union governments are intensifying pressure on Pfizer (PFE.N) and other COVID-19 vaccine makers to renegotiate contracts, warning millions of shots that are no longer needed could go to waste, according to EU officials and a document.During the most acute phase of the pandemic, the European Commission and EU governments agreed to buy huge volumes of vaccines, mostly from Pfizer and its partner BioNTech (22UAy.DE), amid fears of insufficient supplies.But with the pandemic abating in Europe and amid a marked slowdown in vaccinations, many countries are now urging tweaks to contracts to reduce supplies and consequently cut their spending on vaccines.Register now for FREE unlimited access to Reuters.comThe matter was discussed on Tuesday at a meeting of EU health ministers in Luxembourg, although the Commission remained cautious on what could be achieved.Poland, which is the leading country in this attempt to revise contracts, has more than 30 million COVID vaccines in stock and would need to buy another 70 million under existing agreements, a Polish diplomat told Reuters, urging changes to avoid waste.Poland has a population of about 38 million, with about 60% fully vaccinated, not including boosters - against over 70% in the EU.In a letter sent to the Commission earlier in June, and seen by Reuters, the Polish Health Minister Adam Niedzielski together with his counterparts from Bulgaria, Croatia, Estonia, Hungary, Latvia, Lithuania and Romania urged a "reduction of the amounts" of vaccines being ordered.They said the contracts were agreed when it was impossible to predict how the pandemic would develop, and they should now be changed as the situation is improving.During a public session of Tuesday's EU health ministers' meeting, Slovakia said it supported the letter. Other countries, including Cyprus and Malta, urged caution as pandemic conditions could change again.'CONTRACTS MUST BE HONOURED'Pfizer and Moderna (MRNA.O), which is another top supplier of COVID vaccines to the EU, have agreed to postpone some deliveries.However, the ministers said in their joint letter, referring only to the tweaks agreed with Pfizer, that they were "an insufficient solution and only delay the problem".EU Health Commissioner Stella Kyriakides told Tuesday's public session that the Commission would work to further extend deliveries beyond this year and excess doses could be needed in the future.But she added: "Contracts must be honoured", adding the EU "cannot unilaterally change the terms of the contracts".An EU official, speaking on condition of anonymity, said in May that EU countries would likely lose any legal case brought against suppliers. read more There is currently no legal case, officials said.A spokesperson for Pfizer declined to comment on the letter, but reiterated the changes already made to the contract to adapt delivery schedules."We witness excessive burden on state budgets, combined with delivery of unnecessary amounts of vaccines," the joint letter said, adding: "There is a high probability that doses supplied to the European Union might end up being disposed of".Last year, several eastern European states had to receive emergency Pfizer doses, initially destined to other EU states, because they under-ordered the vaccine and preferred AstraZeneca's cheaper shots, whose deliveries were vastly reduced due to production problems.Register now for FREE unlimited access to Reuters.comReporting by Francesco Guarascio @fraguarascio Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

EU states step up pressure on Pfizer to cut unneeded COVID vaccine supplies.

U.S. Updated on: June 14, 2022 / 8:12 AM / CBS/AP Cabin falls into river amid Yellowstone flood Cabin falls into river amid severe Yellowstone flooding 00:45 A visitor from Indiana captured dramatic video of a waterfront house in Montana being swept away in a river as a torrent of rain combined with a rapidly melting snowpack caused a deluge of flooding in Yellowstone National Park.At a cabin in Gardiner, Parker Manning got an up-close view of the water rising and the river bank sloughing off in the raging Yellowstone River floodwaters just outside his door.On Monday evening, Manning watched as the rushing waters undercut the opposite riverbank, causing a house to fall into the Yellowstone River and float away mostly intact. "We started seeing entire trees floating down the river, debris," Manning told The Associated Press. "Saw one crazy single kayaker coming down through, which was kind of insane."The Yellowstone River at Corwin Springs crested at 13.88 feet Monday, higher than the previous record of 11.5 feet set in 1918, according the National Weather Service. Manning posted more photos and video of the flooding on Facebook, writing: "Crazy times in Gardiner MT." In this image provided by Parker Manning, the flooding Yellowstone River undercuts the river bank, threatening a house and a garage in Gardiner, Mont., on June 13, 2022.  Parker Manning / AP The flooding triggered evacuations, cut off electricity and forced Yellowstone officials to close all entrances indefinitely, just as the summer tourist season was ramping up.While numerous homes and other structures were destroyed, there were no immediate reports of injuries. Yellowstone officials said they were assessing damage from the storms, which washed away bridges, caused mudslides and left small cities isolated, forcing evacuations by boat and helicopter.It's unclear how many visitors are stranded or have been forced to leave the park and how many residents outside the park have been rescued and evacuated. Some of the worst damage happened in the northern part of the park and Yellowstone's gateway communities in southern Montana. National Park Service photos of northern Yellowstone showed a mudslide, washed out bridges and roads undercut by churning floodwaters of the Gardner and Lamar rivers.The flooding cut off road access to Gardiner, a town of about 900 people near the confluence of the Yellowstone and Gardner rivers, just outside Yellowstone's busy North Entrance. Cooke City was also isolated by floodwaters and evacuations were also issued for residents in Livingston.Officials in Park County, which encompasses those cities, said on Facebook Monday evening that extensive flooding throughout the county also had made drinking water unsafe in many areas. Evacuations and rescues were ongoing and officials urged people who were in a safe place to stay put overnight.The Montana National Guard said Monday it sent two helicopters to southern Montana to help with the evacuations.Cory Mottice, a meteorologist with the National Weather Service in Billings, Montana, said rain is not in the immediate forecast, and cooler temperatures will lessen the snowmelt in coming days."This is flooding that we've just never seen in our lifetimes before," Mottice said.Floodwaters inundated a street in Red Lodge, a Montana town of 2,100 that's a popular jumping-off point for a scenic, winding route into the Yellowstone high country. Twenty-five miles to the northeast, in Joliet, Kristan Apodaca wiped away tears as she stood across the street from a washed-out bridge, The Billings Gazette reported. The log cabin that belonged to her grandmother, who died in March, flooded, as did the park where Apodaca's husband proposed."I am sixth-generation. This is our home," she said. "That bridge I literally drove yesterday. My mom drove it at 3 a.m. before it was washed out."On Monday, Yellowstone officials evacuated the northern part of the park, where roads may remain impassable for a substantial length of time, park Superintendent Cam Sholly said in a statement.But the flooding affected the rest of the park, too, with park officials warning of yet higher flooding and potential problems with water supplies and wastewater systems at developed areas.The rains hit during the high tourism season. June, at the onset of an annual wave of over 3 million visitors that doesn't abate until fall, is one of Yellowstone's busiest months.Yellowstone got 2.5 inches of rain Saturday, Sunday and into Monday. The Beartooth Mountains northeast of Yellowstone got as much as 4 inches, according to the National Weather Service.In south-central Montana, flooding on the Stillwater River stranded 68 people at a campground. Stillwater County Emergency Services agencies and crews with the Stillwater Mine rescued people Monday from the Woodbine Campground by raft. Some roads in the area are closed because of flooding and residents have been evacuated. "We will be assessing the loss of homes and structures when the waters recede," the sheriff's office said in a statement. In: Yellowstone National Park Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Yellowstone flooding: Dramatic video shows large house collapsing into Yellowstone River.

Traders work on the floor of the New York Stock Exchange (NYSE) on June 10, 2022 in New York City.Spencer Platt | Getty ImagesThere isn't anything particularly special about the 20% demarcation line used to define a bear market. It's more a symbolic psychological hurdle for investors. It often portends — but doesn't cause — a recession."It's a shortcut in language around the financial markets that people use," Charlie Fitzgerald III, an Orlando, Florida-based certified financial planner, said of bear markets. "The bottom line is, it's a tough time."By comparison, a "bull market" is a period when stocks are surging, which has largely been the case since the Great Recession.Human emotions are just a difficult thing to predict.Charlie Fitzgerald IIIOrlando, Florida-based certified financial plannerBear markets are a periodic feature of the stock market. Since World War II, there have been nine declines of 20% to 40% in the S&P 500, and three others of more than 40%, according to Guggenheim Investments. (The analysis doesn't include 2022.)On average, stocks took 14 months and 58 months to recover, respectively, after those declines. The S&P 500 slid 34% from Feb. 19 to March 23 in 2020; stocks recovered by mid-August and ultimately swelled 114% through Jan. 3, 2022, the recent record, according to S&P Dow Jones Indices.It's impossible to say how long the current downturn will last, Fitzgerald said. "Human emotions are just a difficult thing to predict," he said.

The S&P 500 closed in a 'bear market' on Monday. What does that mean?.

A Boeing 737 MAX airplane lands after a test flight at Boeing Field in Seattle, Washington, June 29, 2020.Karen Ducey | ReutersBoeing said Tuesday it delivered 35 planes in May, on par with the previous month as it grappled with supply chain issues affecting its bestselling 737 Max jetliner.The manufacturer booked gross orders for 23 aircraft last month, the majority of them wide-body planes, whose sales have lagged narrow-body aircraft orders. Those included seven 787-9 Dreamliners for Lufthansa. In April, Boeing booked gross orders for 46 planes."We have got to work our way through these supply constraints," Boeing CEO Dave Calhoun said at a Bernstein investor conference earlier this month. He said the company does plan for production rate increases but will "only pull the trigger when the supply chain is ready." While Boeing has faced supply chain issues for production of its Max jets, deliveries of its 787 Dreamliners remain paused as the company and the Federal Aviation Administration review production flaws before handing the planes over to customers.

Boeing delivers 35 planes in May as it grapples with supply chain problems.

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 13, 2022. REUTERS/Brendan McDermid/File PhotoRegister now for FREE unlimited access to Reuters.comNEW YORK, June 14 (Reuters) - The bear market in U.S. stocks could be a prelude to even tougher times to come: a market swoon has often come hand-in-hand with recession.Worries that a hawkish Federal Reserve will hurt U.S. growth as it attempts to tame inflation has helped drive the benchmark S&P 500 (.SPX) to a more than 20% decline from its all-time high on Jan 3, a drop that many analysts define as a bear market. read more If history is a guide, the market's action may indicate a recession is in the wings. Nine of 12 bear markets that have occurred since 1948 have been accompanied by recessions, according to investment research firm CFRA. That recession could begin as early as August, history indicates, and there could be more downside in markets to come.Register now for FREE unlimited access to Reuters.com“The market anticipates recessions," said Sam Stovall, CFRA's chief investment strategist. "The market usually goes into a bear market mode if it believes that things are not going to be doing very well for the economy as a whole.”Despite the tumble in stocks, the latest economic and corporate data show a mixed picture. The latest U.S. monthly jobs report found employers hired more workers than expected in May, while S&P 500 earnings are expected to rise by nearly 10% this year.On the flip side, the CPI report on Friday said consumer prices accelerated and resulted in the largest annual increase in nearly 40-1/2 years, while gasoline prices are at all-time highs and threatening consumer spending. read more Fed Chairman Jerome Powell has pledged that the U.S. central bank would ratchet interest rates as high as needed to kill a surge in inflation. Surging inflation data and fast-changing views in financial markets have opened the door to a larger-than-expected three-quarter-percentage point interest rate increase when Fed officials meet this week. read more Warnings of an approaching recession have grown louder on Wall Street and in Corporate America. On Monday, Morgan Stanley CEO James Gorman said he thinks there is a roughly 50% chance that the U.S. economy will enter a recession. read more Another widely followed recession signal flashed on Monday, as it did in March, when a key part of the U.S. Treasury yield curve inverted - a reliable indicator that a recession will follow. read more CFRA found that bear markets on average start seven months before a recession begins. If that holds this time, the recession would begin in early August, seven months after the S&P 500 peaked on Jan 3.A bear market accompanied by a recession could mean more pain for investors.In 12 recessions since World War Two, the S&P 500 has contracted by a median of 24%, according to Goldman Sachs. Should such a decline occur this time, that would take the S&P 500 down to 3,650, nearly 3% below Monday's closing level of 3,749.63.Bespoke Investment Group analyzed 14 bear markets since World War Two, eight of which started within two years of a recession, and six where the next recession did not start for at least two years.In the eight where the recession came within two years, the median decline of a bear market was steeper -- about 35% for the S&P 500 versus 28.2% for bear markets when a recession did not come within that time period, according to Bespoke.The eight recession-related bear markets were also longer generally, with a median length of 495 days compared to 198 days for the six other bear markets.Not all bear markets have been linked with recessions. According to CFRA, three of 12 bears occurred without recessions, while three recessions were not preceded by bear markets.The potentially good news for investors is that, according to LPL Research, once stocks reach the threshold of a decline of 20%, they tend to rebound over the next year. After officially marking a bear market, the S&P 500 rose by a median of 23.8% over the next year, according to LPL's analysis of 10 bear markets since 1957.The three instances in which stocks were lower were associated with "major recessions," according to LPL.This time, the environment is probably "more like a mid-cycle slowdown where the economy can catch its breath, the stock market can catch its breath after a huge rally," said LPL's chief market strategist Ryan Detrick."As uncomfortable as this year has been, this is still probably for a longer-term investor, a great opportunity,” Detrick said.Register now for FREE unlimited access to Reuters.comReporting by Lewis Krauskopf; editing by Megan Davies and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Analysis: U.S. stocks' bear market growl could beckon recession.

The dais as the House select committee tasked with investigating the January 6th attack on the Capitol hold a hearing on Capitol Hill, in Washington, U.S. June 13, 2022. Jabin Botsford/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comWASHINGTON, June 14 (Reuters) - The House of Representatives committee investigating the deadly Jan. 6, 2021, attack on U.S. Capitol said on Tuesday it has postponed a hearing scheduled for Wednesday but will go ahead with one set for Thursday.A statement by the Democrat-led select committee did not provide a reason for the postponement. Committee spokespeople did not immediately respond to a request for comment.Democratic Representative Zoe Lofgren, a committee member, said on MSNBC's "Morning Joe" program that the delay was intended to give the panel's technical staff more time to prepare the multimedia presentation.Register now for FREE unlimited access to Reuters.com"Putting together the video and exhibits is an exhausting exercise for our very small video staff," Lofgren said, noting the original schedule had been to hold three public hearings in one week."So we're trying to give them a little room to do their technical work," Lofgren said.The committee had scheduled six public hearings this month to discuss results of its nearly year-long investigation into the events surrounding the attack on the Capitol by thousands of supporters of former President Donald Trump as lawmakers met to formally certify his 2020 election defeat by Democrat Joe Biden.Wednesday's hearing was to have focused on Trump's efforts to replace the U.S. attorney general in order to assemble a team at the Justice Department to promote his false claims that his loss was due to widespread voting fraud.Jeffrey Rosen, then the acting attorney general, was among those scheduled to testify. read more At Monday's hearing - the second of the expected six - the committee showed video testimony by top Trump advisers saying they told him his fraud claims were unfounded and would not change the result, but he disregarded them.Trump, who has denied wrongdoing, issued a 12-page statement after the hearing criticizing the committee and reiterating his fraud claims. Trump also sent out several fund-raising emails making many of the same claims. During the hearing, the committee said Trump has raised some $250 million while making those claims.Register now for FREE unlimited access to Reuters.comReporting by Patricia Zengerle, additional reporting by Susan Heavey; Editing by Will Dunham and Paul GrantOur Standards: The Thomson Reuters Trust Principles.

U.S. congressional panel probing Jan. 6 Capitol attack postpones hearing.

Register now for FREE unlimited access to Reuters.comSummaryCompaniesUnion, government reach agreement after eight-day strikeTruckers to return to work immediately - unionMore than $1.2 billion in lost output, deliveriesUIWANG, South Korea, June 14 (Reuters) - South Korea's unionised truckers and the transport ministry reached a tentative agreement on Tuesday on minimum pay guarantees in a late night deal ending a nationwide strike that crippled ports and industrial hubs, the two parties said.The eight-day strike has delayed cargo shipments for industries from autos to petrochemicals and spirits in the export-heavy nation, and cost South Korea's industry more than $1.2 billion in lost output and unfilled deliveries, according to the industry ministry. read more The latest round of talks were held at a major industrial transport hub near the capital, where Transport Minister Won Hee-ryong earlier warned the government may step in and force truckers to return to work or face jail.Register now for FREE unlimited access to Reuters.comThe transport ministry and truckers union reached an agreement to extend the truckers' minimum wage system and continue discussing expanding a guarantee of minimum pay for carrying cargo to cover additional products, a union official told reporters."The Cargo Truckers Solidarity Union will immediately return to work, and the Ministry of Land, Infrastructure and Transport will make utmost efforts so that truckers can return to work..." the union said in a statement.In a separate statement, the transport ministry said it will work with parliament on extending minimum pay guarantee and review expanding fuel subsidies and support "in order to ease truckers' difficulties from recent rise in oil prices".Members of the Cargo Truckers Solidarity union take part in a protest in front of a Samsung Electronics' factory in Gwangju, South Korea, June 14, 2022. Yonhap via REUTERS The trucker strike had cost the South Korean auto industry about 5,400 vehicles in lost production, worth about 257 billion won as of Sunday, according to the industry ministry.Average daily shipments of about 74,000 metric tonnes of petrochemical products have been slashed by 90% due to the strike, the Korea Petrochemical Industry Association had said. read more Small business owners had voiced concern about the havoc a lengthy strike could have on the recovery from the COVID-19 pandemic, as the truckers launched their action less than two months after social distancing norms were lifted."Small business owners are waiting helplessly," a dozen lobby groups representing such businesses said in a joint statement, adding that shipments of liquor, food, farm and fisheries products had been blocked.An official from HiteJinro Co Ltd (000080.KS), the biggest brewer of soju, the South Korean liquor, said its shipments were cut by about 40% by the strike."It was the breaking point, but it turned out well," said trucker Kang Myung-gil, a 50-year-old father of three who had joined the strike despite not being part of the union to protect his family's livelihood. read more "It's going to be a sweet sleep."Register now for FREE unlimited access to Reuters.comReporting by Byungwook Kim, Joyce Lee, Heekyong Yang and Ju-min Park; Editing by Andrew Heavens, William MacleanOur Standards: The Thomson Reuters Trust Principles.

S.Korea truckers end strike; gov't agrees to extend pay guarantee.

The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, December 30, 2015. REUTERS/Lucas JacksonRegister now for FREE unlimited access to Reuters.comHOUSTON, June 14 (Reuters) - Record-high refining margins have renewed buyer interest in Exxon Mobil Corp’s (XOM.N) smallest oil refinery, a 61,500 barrel-per-day plant in Billings, Montana, said people familiar with the matter.Exxon has sought unsuccessfully to sell the Billings refinery for at least four years, according to sources, drawing tire-kickers from major and small refiners. A sale now could bring in between $300 million and $600 million, one of the people said.U.S. profit margins for processing crude into gasoline, diesel and jet fuel hit five-year highs this month, reviving the plant's appeal. Rising travel and fewer refineries from pandemic-shutdowns have U.S. gasoline prices headed toward an average $6 a gallon this summer, say analysts.Register now for FREE unlimited access to Reuters.comAt least three companies and a private investment group have shown renewed interest in the refinery this year, which returned to full production this week for the first time since a March 27 fire, the people said.“We don’t comment on rumors,” said Exxon spokesperson Julie King.The nation’s largest refiner by volume, Marathon Petroleum Corp (MPC.N), along with Par Pacific Holdings (PARR.N) and CVR Energy (CVI.N) are potential buyers, the people said.Marathon Petroleum spokesperson Jamal Kheiry declined to comment. Par Pacific and CVR did not reply to requests for comment.At least one interested buyer is said by the sources to be discussing the terms of a deal with Exxon for the refinery and could announce a sale agreement sometime this summer.Exxon put the facility on the market to reduce its U.S. refining footprint to four plants: a trio of refineries in Baton Rouge, Louisiana, Baytown and Beaumont, Texas, which are among the nation’s largest and have adjoining chemical plants, and a 251,800 barrel-per-day refinery in Joliet, Illinois.Register now for FREE unlimited access to Reuters.comReporting by Erwin Seba in Houston and Shariq Khan in Bengaluru Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Buyer interest in Exxon's Montana refinery rises with fuel margins -sources.

A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith/File Photo/File PhotoRegister now for FREE unlimited access to Reuters.comNEW YORK, June 14 (Reuters) - Wells Fargo & Co's (WFC.N)chief financial officer told investors on Tuesday the bank will not release funds it set aside to cover potential pandemic-related loan losses this quarter because of the "uncertainty" facing the U.S. economy."We still think there's significant risk that's out there," CFO Mike Santomassimo said at a conference in New York, adding that the bank has released reserves in several recent quarters. "I don't expect us to continue to have those releases."Last quarter, the bank's $1.1 billion reserve release helped offset a decline in its mortgage lending business. read more This quarter, Santomassimo told investors mortgage income will decline by 50% from first quarter levels, along with investment bank fees, which are falling on less dealmaking activity.Register now for FREE unlimited access to Reuters.comSoaring interest rates have pressured banks' home lending portfolios as the increase in borrowing costs is dampening demand for mortgage originations. read more Investment banking revenues are down industry wide as fewer companies are choosing to go public and company stock prices are plunging as economic growth slows.While Santomassimo said Wells Fargo's trading revenues are likely to be up "a little bit over last year," trading is not a significant driver of the bank's business.Analysts said they expect overall investment banking revenues in the second quarter to decline, despite any gains banks earn from equity and fixed income, currency and commodities (FICC) trading volumes. read more Register now for FREE unlimited access to Reuters.comReporting by Elizabeth Dilts Marshall in New York; Additional reporting by Noor Zainab Hussain in Bangaluru and Sinead Carew in New York; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

Wells Fargo holding onto pandemic reserves given U.S. economic risks.

Register now for FREE unlimited access to Reuters.comSummaryCourts allows flight to proceed, but numbers on it dwindleUK says deportation policy will stop Channel crossingsCritics, including church leaders, call it immoralLONDON/DOVER, June 14 (Reuters) - Britain's first scheduled flight taking asylum seekers to Rwanda was set to depart on Tuesday, with the government warning that anyone who avoided it through last-minute legal challenges would be put on a later plane despite an outcry from critics.Britain has struck a 120-million-pound ($148 million) deal with Rwanda to send some migrants, who had arrived by crossing the English Channel in small boats from Europe, to live in the East African country.The plan, which the government says will stem the flow of dangerous cross-Channel trips and smash people-smuggling networks, has horrified political opponents, charities and religious leaders who say it is inhumane.Register now for FREE unlimited access to Reuters.comThe United Nations' refugee chief called it "catastrophic", the entire leadership of the Church of England denounced it as immoral and shameful, and media reports have said heir to the throne Prince Charles had privately described the plan as "appalling". read more With just hours to go before the flight was due to depart, Britain's Supreme Court rejected a bid from one Iraqi individual to have his deportation blocked, while a handful of others also had their claims dismissed by the High Court in London. An attempt to put an injunction on the flight failed on Monday.However, at least 30 others were scheduled to be on the first flight have successfully argued that they should not be deported to Rwanda on health or human rights grounds, meaning just seven were due to leave.Other legal challenges were still ongoing, while in total more than 130 people have been given deportation notices. Television footage showed a passenger jet waiting on the runway at an air force base in southwest England.Prime Minister Boris Johnson, who has previously attacked "leftie" lawyers for trying to undermine policy, said the latest legal bids were undermining the government's attempts to support safe and legal routes to come to Britain and delivered a thinly-veiled attack on his clergy and royal critics."We are not going to be in any way deterred or abashed by some of the criticism that has been directed upon this policy, some of it from slightly unexpected quarters, we are going to get on and deliver," he told his cabinet ministers.NEXT FLIGHTProtestors demonstrate outside the Home Office against the British Governments plans to deport asylum seekers to Rwanda, in London, Britain, June 13, 2022. REUTERS/Henry NichollsForeign Secretary Liz Truss told Sky News that even if only a handful of migrants were on board the first flight, it would establish a principle."There will be people on this flight and if they're not on this flight, they will be on the next flight because we are determined to break the model of the appalling people traffickers," she told Sky News.There is also criticism that it will fail in his objective of deterring dangerous Channel crossings.According to government figures, more than 28,500 people were detected arriving in Britain on small boats last year. Dozens more, including women and young children, arrived on Tuesday, a Reuters witness in the Channel port of Dover said.Human rights groups say the policy will put migrants at risk. The UNHCR has said Rwanda, whose own human rights record is under scrutiny, does not have the capacity to process the claims, and there is a risk some migrants could be returned to countries from which they had fled.At migrant quarters in Kigali, asylum seekers said Rwanda was better than the filthy, dangerous Libyan detention centres they had come from as part of a 2019 agreement - but they still wanted to get to Europe. read more "I cannot live here forever. When I reach Europe or Canada I will study and work," Eritrean Teame Goitom said. "I left Eritrea because there is a dictatorship. I want to go to Europe because there is freedom."But, Ismail Bakina, the building manager of the 50-room newly renovated hostel where the migrants from Britain will be housed says those who went there would be free."This is not a prison. It is like a home," he said.A full hearing to determine the legality of the British policy as a whole is due to be heard at the High Court in London in July.Register now for FREE unlimited access to Reuters.comAdditional reporting by Kate Holton, Alistair Smout, Michael Holden, Kylie MacLellan, Paul Sandle and Clement Uwiringiyimana in Kigali; Editing by Simon Cameron-Moore, Alison Williams, Jason Neely and Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

UK presses ahead with plan for first migrant deportation flight to Rwanda.

Harold Hamm of Continental Resources introduces himself at a dinner for business leaders hosted by U.S. President Donald Trump at Trump National Golf Club in Bedminster, New Jersey, U.S., August 7, 2018. REUTERS/Leah MillisRegister now for FREE unlimited access to Reuters.comJune 14 (Reuters) - Continental Resources Inc (CLR.N) said on Tuesday it received an all-cash offer from billionaire-founder Harold Hamm's family trust, a deal which could take the U.S. shale producer private at a valuation of $25.41 billion.If both sides reach an agreement, it would result in the most significant deal in the U.S. shale sector since the surge in oil and natural gas prices this year caused by tightened supply, as the world emerges from the coronavirus pandemic and the dislocation of energy markets caused by Russia's invasion of Ukraine.Hamm, a legendary oilman who once called the Organization of the Petroleum Exporting Countries a "toothless tiger", is offering $70 per share to those holding the approximately 17% of the company that his family does not already own.Register now for FREE unlimited access to Reuters.comThe offer represents a nearly 9% premium over Continental's closing price on Monday, but is below a near eight-year high of $73.54 that Continental's shares touched last Thursday.Continental's shares jumped 16% to $74.83 in the opening minutes of trading, indicating investors believe a higher offer could be forthcoming.RBC Capital Markets analyst Scott Hanold said it would likely take a higher price to convince shareholders to sell, noting most analysts in the space had a price target of between $78 and $79 per share.Continental said the proposal was an indication of interest from the Hamm family trust, and it had not yet fully evaluated the offer. In a letter to the board disclosed in the same filing, Hamm's family trust said the deal will be structured as a tender offer and that there were no financing issues.Hamm founded Continental as Shelly Dean Oil Company in 1967, and ran it as a private company until 2007.In a letter to employees detailing his go-private offer, Hamm lamented the public markets have not supported the oil and gas industry and limited its growth, especially since the pandemic."We have determined that the opportunity today is with private companies who have the freedom to operate and are not limited by public markets," Hamm said in the letter.Both U.S. crude and natural gas prices this year have hit their highest levels since 2008. The high prices have been a boon to the shale industry, and Continental has used this backdrop to expand its operations.In December, it entered the Permian Basin for the first time, buying acreage from Pioneer Natural Resources. Meanwhile, it bought land in March from Chesapeake Energy (CHK.O)to bolster its footprint in the Powder River Basin.Continental said it would form a special committee of independent directors and hire advisors to consider Hamm's proposal.If the proposal is rejected, the Hamm family will continue as long-term shareholders and would not push for any strategic options, according to Hamm's offer letter.Hamm's family trust is being advised by Intrepid Partners and Vinson & Elkins LLP.Register now for FREE unlimited access to Reuters.comReporting by Arunima Kumar and Shariq Khan in Bengaluru and David French in New York; Editing by Arun Koyyur and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Founder Harold Hamm offers to take Continental private at $25-bln value.

A Spirit Airlines Airbuys A320-200 airplane sits at a gate at the O'Hare Airport in Chicago, Illinois, U.S. October 2, 2014.REUTERS/Jim YoungRegister now for FREE unlimited access to Reuters.comWASHINGTON, June 14 (Reuters) - Takeover target Spirit Airlines Inc (SAVE.N) on Tuesday said it was in talks with JetBlue Airways Corp (JBLU.O) over a $3.4 billion sweetened offer and expects to decide on the proposal this month.The ultra-low-cost airline granted JetBlue access to the same due diligence information being shared with Frontier Group Holdings Inc (ULCC.O) after failing to secure enough shareholder support for its deal with the rival suitor.Spirit CEO Ted Christie said the board plans to "bring this process to a conclusion" and update shareholders ahead of the June 30 shareholder meeting.Register now for FREE unlimited access to Reuters.com"We're pleased that there now seems to be a genuine desire from the Spirit board to engage with us," JetBlue Chief Executive Robin Hayes told Reuters on Friday, adding that he was "optimistic" that a deal could be reached. "We're going to continue to engage with the Spirit board over the next few weeks." read more Either of the deals would create the fifth-largest U.S. airline, helping the buyer compete with larger legacy players at a time when the industry faces labor and aircraft shortages but both will face intense regulatory scrutiny.Spirit rebuffed a buyout proposal from JetBlue last month but later agreed to engage with it after the larger peer increased the reverse break-up fee by $150 million to $350 million, payable to Spirit shareholders, in case the deal falls through due to antitrust reasons. read more Spirit, however, continues to be in talks with Frontier under the terms of its existing merger agreement.Spirit also said it was providing information requested by the U.S. Justice Department and the Federal Trade Commission for both the deals as part of an ongoing antitrust review process.Hayes told Reuters "the regulatory process is under way" and that the airline had provided documents to the Justice Department. "That process takes several months and... the conversations then would happen when you're well into that process," Hayes said.Frontier shares were down 1.95% to $9.03, while Spirit shares were up nearly 1% at $21.41. The current value of Frontier's stock and cash offer is $19.49, trailing JetBlue's cash offer of $31.50 per share.Register now for FREE unlimited access to Reuters.comReporting by Aishwarya Nair in Bengaluru; Editing by Aditya Soni and Mark PorterOur Standards: The Thomson Reuters Trust Principles.

Spirit in talks over JetBlue's $3.4 bln offer, to decide by end June.

Register now for FREE unlimited access to Reuters.comCODY, Wyo., June 13 (Reuters) - Record flooding and rockslides unleashed by an unprecedented burst of heavy rains prompted the rare closure on Monday of all five entrances to Yellowstone National Park at the start of the summer tourist season, the park superintendent said.The entire park, spanning parts of Wyoming, Montana and Idaho, will remain closed to visitors, including those with lodging and camping reservations, at least through Wednesday, as officials inspect damage to roads, bridges and other facilities.The closures come as Yellowstone was gearing up to celebrate its 150th anniversary year, and as local communities heavily dependent on tourism were counting on a rebound following COVID-19 travel restrictions over the past two summers.Register now for FREE unlimited access to Reuters.comAll five park entrances were closed to inbound traffic for the first summer since a series of devastating wildfires in 1988. The National Park Service said it was working to evacuate visitors and staff remaining at various locations, especially in the hardest-hit northern flank of Yellowstone."It is likely that the northern loop will be closed for a substantial amount of time," the park superintendent, Cam Sholly, said in a statement.The "gateway" community of Gardiner, Montana, just beyond the park's northern boundary and home to many of Yellowstone's workers, was cut off by a mudslide to the north and washed-out road surfaces to the south, according to the National Park Service.High water levels in the Lamar River erode Yellowstone National Park's Northeast Entrance Road, where the park was closed due to heavy flooding, rockslides, extremely hazardous conditions near Gardiner, Montana, U.S. June 13, 2022. Picture taken June 13, 2022. National Park Service/Handout via REUTERS. Aerial footage released by the Park Service showed large swaths of the winding North Entrance Road between Gardiner and park headquarters in Mammoth Hot Springs, Wyoming, carved away by surging floodwaters along the Gardner River - washouts that will likely take months to fully repair.Power outages were scattered throughout the park, and preliminary assessments showed numerous roadways across Yellowstone either washed away or covered in rocks and mud, with a number of bridges also damaged, the agency said.Various roads in the park's southern region were on the verge of being flooded, with more rain in the forecast.The flooding and slides were triggered by days of torrential showers in the park and steady rains across much of the wider Intermountain West following one of the region's wettest springs in many years. The park service characterized the rainfall and floods sweeping the park as unprecedented, with the Yellowstone River topping its banks beyond record levels.A sudden spike in summer temperatures during the past three days also has hastened melting and runoff of snow accumulated in the park's higher elevations from late-winter storms.The heavy rains and rapid runoff of snow melt converged to create treacherous conditions in the park just two weeks after the traditional Memorial Day holiday weekend kickoff of the U.S. summer tourist season, which accounts of the bulk of Yellowstone's annual 4 million visitors.Yellowstone, established as the world's first national park in 1872 and treasured as one of America's top outdoor travel destinations, occupies some 2.2 million acres (890,308 hectares)famed for its geysers, abundant wildlife and spectacular scenery.Register now for FREE unlimited access to Reuters.comReporting by Ruffin Prevost in Cody, Wyoming; Writing and additional reporting by Steve Gorman in Los Angeles; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Yellowstone closed for first time in 34 years amid flooding, mudslides.

Elon Musk arrives at the In America: An Anthology of Fashion themed Met Gala at the Metropolitan Museum of Art in New York City, New York, U.S., May 2, 2022. REUTERS/Andrew Kelly/File PhotoRegister now for FREE unlimited access to Reuters.comJune 13 (Reuters) - Elon Musk will speak to Twitter Inc (TWTR.N) employees this week for the first time at a company-wide meeting since launching his $44 billion bid in April, a source said on Monday, citing an email from Twitter Chief Executive Parag Agrawal to staff.The meeting is scheduled for Thursday, and Musk will take questions directly from Twitter employees, the source added.The news, first reported by Business Insider, comes after Twitter said last week that it anticipated a shareholder vote on the sale by early August.Register now for FREE unlimited access to Reuters.comA Twitter spokesperson confirmed that Musk would attend the company all-hands meeting this week.Ever since Musk's takeover bid, many Twitter employees have expressed concerns that the billionaire's erratic behavior could destabilize the social media company's business, and hurt it financially.Back in April, Agrawal was seen quelling employee anger during a company-wide meeting where staff demanded answers to how managers planned to handle an anticipated mass exodus prompted by Musk. read more Last week, Musk warned Twitter that he might walk away from his deal to acquire the company, if it failed to provide the data on spam and fake accounts that he seeks. read more Register now for FREE unlimited access to Reuters.comReporting by Sheila Dang in New York and Akriti Sharma in Bengaluru; Additional reporting by Nishit Jogi; Editing by Subhranshu Sahu and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Elon Musk to address Twitter employees for first time in Town Hall.

World June 14, 2022 / 11:43 AM / CBS News Tennis superstar Serena Williams is going to play at Wimbledon this year, the tournament's organizers announced Tuesday. Williams, who has won Wimbledon seven times, is making her 21st appearance at the tournament after being awarded a wild-card entry for singles. She has not competed in a Grand Slam tournament, or anywhere else since she was injured last year at the All England Club.  — Wimbledon (@Wimbledon) June 14, 2022 She was among six women who were given a spot in the singles draw. The other players listed were Katie Boulter, Jodie Burrage, Sonay Kartal, Yuriko Miyazaki and Katie Swan.  Hours earlier, Williams hinted at her return in an Instagram post. "SW and SW19. It's a date. 2022 See you there," Williams wrote. "Let's go." SW refers to her initials, and SW19 is the postal code where the All England Club is located.  Williams has 23 Grand Slam singles titles – more than any other tennis player in the open era. She last won a major in 2016. Nike honored her in April with a 1-million-square-foot building at the company's headquarters in Oregon, further cementing her legacy. The Serena Williams Building is the largest at Nike's campus.  In: Serena Williams Christopher Brito Christopher Brito is a social media producer and trending writer for CBS News, focusing on sports and stories that involve issues of race and culture.

Serena Willams set to make return to tennis in Wimbledon: "See you there".

A protester waves a sign near the Country Club Plaza Starbucks store where dozens of Starbucks employees and union supporters protested alleged anti-union tactics by the company Thursday, March 3, 2022.Jill Toyoshiba | Tribune News Service | Getty ImagesStarbucks is telling its baristas that unionizing could jeopardize the gender-affirming health care coverage for transgender employees that the company offers, according to a complaint filed with the federal labor board.The complaint comes after more than 100 of the coffee chain's 9,000 U.S. cafes have voted to unionize under Workers United in the last seven months. Under interim CEO Howard Schultz, Starbucks has been trying to counter the union push by emphasizing the potential shortcomings of collective bargaining, such as federal labor laws that prohibit the company from unilaterally hiking wages across unionized cafes without contract negotiations.The union's latest complaint against Starbucks, first reported by Bloomberg, was filed Monday. A transgender employee at an Oklahoma City location told the publication that she believed her manager used a "veiled threat" in a conversation. The manager reportedly told the employee that her benefits could improve, stay the same or worsen if the store unionized and referred specifically to her use of the trans health-care benefits.Starbucks spokesman Reggie Borges told CNBC that the claim is false.The company's health insurance has covered gender reassignment surgery since 2012 and a wider array of gender-affirming procedures, like hair transplants or breast reduction, since 2018. Last month, the coffee chain announced it would cover travel expenses for gender-affirming surgeries as state lawmakers target transgender rights.As of mid-March, more than 150 anti-trans bills had been introduced in state legislatures seeking to limit access to health care, sports, bathrooms and education, according to NBC News. Oklahoma, for example, has passed three anti-trans laws this year.Starbucks often touts its long history of supporting LGBTQ+ workers and the broader community, particularly during Pride Month in June. The company notes its decades-old policies including health care coverage for same-sex domestic partnerships and employees with terminal illnesses, inspired by Starbucks worker who died of complications from AIDs.

Starbucks union: Company threatens that unionizing could jeopardize gender-affirming health care.

A pharmacist holds a vial of the Moderna coronavirus disease (COVID-19) vaccine in West Haven, Connecticut, U.S., February 17, 2021. REUTERS/Mike SegarRegister now for FREE unlimited access to Reuters.comJune 14 (Reuters) - Moderna's (MRNA.O) COVID-19 vaccine may have a higher risk of heart inflammation in young men than the Pfizer (PFE.N)/BioNTech (22UAy.DE) shot, according to data presented on Tuesday to U.S. Food and Drug Administration advisers weighing its use for those aged 6 to 17.An FDA official told the expert panel that while the data showed a higher risk for the Moderna shot, the findings were not consistent across various safety databases and were not statistically significant, meaning they might be due to chance.The overall incidence is relatively rare and the vast majority who suffer the side effect fully recover, but a comparison showed the risk of myocarditis and pericarditis in young males aged 18-39 was 1.1 to 1.5 times higher after the Moderna shot, the FDA said in its presentation, citing data from three U.S. vaccine safety databases.Register now for FREE unlimited access to Reuters.comData from a U.S. Centers for Disease Control and Prevention database showed 4.41 excess heart inflammation cases per 100,000 who received the Pfizer/BioNTech shot in those aged 18-39 versus 6.27 excess cases per 100,000 for Moderna.There have long been concerns that the Moderna shot, which is given at a higher dose than the Pfizer/BioNtech shot, may cause myocarditis and pericarditis at higher rates.Some countries in Europe have limited use of Moderna's vaccine for younger age groups after surveillance suggested it was tied to a higher risk of heart inflammation, and the FDA delayed its review of the Moderna shot to assess the myocarditis risk.The FDA said data from European and Canadian regulators showed that the risk was 1.7 to 7.3 times higher for Moderna's vaccine than Pfizer's in adolescents and young men.Outside experts are considering the data before deciding whether to recommend Moderna's vaccine for children and teens aged 6-17 years of age. The Pfizer vaccine is already authorized for children 5 and older.Register now for FREE unlimited access to Reuters.comReporting by Manas Mishra in Bengaluru; Additional reporting by Michael Erman in New Jersey; Editing by Jason Neely and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

U.S. FDA advisers weigh Moderna COVID vaccine heart risk for young men.

CBS Mornings June 14, 2022 / 10:46 AM / CBS News Former death row inmate on new book for kids Former death row inmate Anthony Ray Hinton on lessons kids can learn from his life 07:17 Former death row inmate Anthony Ray Hinton, who was exonerated in 2015 after spending nearly 30 years behind bars in Alabama, says he has forgiven the state for its decades-long injustice. Since being released, Hinton says he hopes his life story serves as inspiration to others – particularly young people who "have no hope.""I don't think you can get any lower than where I was: On death row for a crime you didn't commit sitting in solitary confinement for 30 years," he told "CBS Mornings" on Tuesday. "If I can hold onto hope and come out and try to be the person that I know that I am inside, I want them to know that they can do the same thing."In his latest book, "The Sun Does Shine," adapted for young readers between the ages 10 and 14, Hinton details his journey toward finding joy and hope again after his experience in prison.  In 1985, detectives falsely identified Hinton for the murders of two fast-food workers and arrested the then-29-year-old at his Alabama residence. Hinton, who is Black, recalled detectives telling him at the time of his arrest that race would be a contributing factor into his conviction, whether he was guilty or not. Hinton's attorney Bryan Stevenson spent 16 years fighting to free Hinton. In 2015, the U.S. Supreme Court ruled unanimously to exonerate Hinton.  In 2015, Hinton was awarded an honorary doctorate degree from St. Bonaventure University in New York. And since then, Hinton has spoken across the country on prison reform and has released a best-selling memoir, which was later chosen as a selection for Oprah Winfrey's book club. Although Hinton has been released  from prison for years now, he says he is still deeply affected by the decades on death row."When I do cut the grass, I stop for whatever reason in that same spot and I remember as though it was yesterday that day that the police came and arrested me," he said. "And it's funny. I've been home seven years. I lock my doors. I try to be home at a certain time. I'm caught up in this scenario that if it happened once, they can make it happen again." He says Alabama hasn't offered him psychological services that would assist in his rehabilitation since his exoneration.  "So I have to deal with it the best way that I can," he said. That includes not allowing the state to take his joy, moving on and choosing forgiveness. "I have to forgive them," Hinton said. "Forgiveness is not about the other person. As I say, forgiveness is about you. They took 30 years from me. There's nothing I can do about that, but I am determined not to give them any, any, of the joy I have and I want to live the rest of my life until that day God calls. I want to be a light for people." In: Alabama Prison Tori B. Powell Tori B. Powell is a breaking news reporter at CBS News. Reach her at tori.powell@viacomcbs.com Twitter Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

"I want to be a light for people:" Former death row inmate Anthony Ray Hinton on new children's book.

"I'm telling my clients to be very defensive," said certified financial planner Ivory Johnson, founder of Delancey Wealth Management in Washington, D.C.Flamingoimages | Istock | Getty ImagesFinancial advisor Ivory Johnson doesn't sugarcoat what's unfolding in the stock market and economy for his clients."It's a very bad time," said Johnson, a certified financial planner and founder of Delancey Wealth Management in Washington, D.C.The S&P 500 Index fell into bear market territory on Monday as investors braced for an interest rate hike by the Federal Reserve, and stocks continued to fall on Tuesday.Cryptocurrencies are also in serious trouble, with bitcoin plunging to an 18-month low of under $23,000.More from Personal Finance:401(k) savers will get a 'wake-up call' in their next statementLast chance for some tax filers to avoid late penalties is June 15Pandemic stimulus checks were a big experiment. Did it work?Amid all the scary signs, there are steps investors can take to protect their money, financial advisors say."Wealth never disappears; it just shifts," Johnson said. "I'm telling my clients to be very defensive."That includes reducing their stock exposure "considerably," he said, as well as shifting the equities they're invested in to consumer staples and utilities. In a downturn, Johnson added, "people may not go on vacation, but they're certainly going to pay their light bill."He's also upping clients' allocation to cash and gold, which has been traditionally viewed as a safe haven in market downturns."Gold does well in this environment," Johnson said.He likes to keep no more than 10% of people's money in the asset, though.Meanwhile, Allan Roth, a CFP and accountant at Wealth Logic in Colorado Springs, Colorado, suggests that investors looking to protect their money turn to short-term Treasury bonds and I bonds.I bonds 'best thing since sliced break'I bonds are backed by the federal government and their rates change every six months based on the consumer price index from the U.S. Bureau of Labor Statistics. Amid rising prices, they've done exceptionally well, although there are limits to how much of them you can buy."I bonds are the best thing since sliced bread," Roth said.What investors don't want to do is pause their investment schedule, said Carolyn McClanahan, a CFP and founder and head of financial planning at Life Planning Partners in Jacksonville, Florida."The goal is always to buy low and sell high," McClanahan said. "Well, now is low."Bundling up against a 'crypto winter'Douglas Boneparth, CFP and president of Bone Fide Wealth in New York, said his clients aren't too surprised by the recent volatility in the cryptocurrency market and headlines about an impending "crypto winter."That's because he's explained to them what it's like to hold such an unpredictable asset, and he doesn't recommend they invest more than 10% of their portfolio into the digital coins.The reason there's extra panic during this crypto slide is largely because the market has grown considerably, Boneparth added."There's just a lot more to it today, with more players and capital," he said. "For folks like me who've been around, that's more reason for it not to disappear."

'Be very defensive.' What financial advisors are telling their clients as the markets tumble.

A Federal Police crew arrives to the port during the search operation for British journalist Dom Phillips and indigenous expert Bruno Pereira, who went missing while reporting in a remote and lawless part of the Amazon rainforest, near the border with Peru, in Atalaia do Norte, Amazonas state, Brazil, June 13, 2022. REUTERS/Bruno KellyRegister now for FREE unlimited access to Reuters.comATALAIA DO NORTE, Brazil, June 14 (Reuters) - The search for missing British journalist Dom Phillips and indigenous expert Bruno Pereira in Brazil’s Amazon rainforest was nearing the end on Tuesday, as the area left to search grows smaller, a spokesman for indigenous group Univaja said.Phillips and Pereira went missing more than a week ago along a remote stretch of the Itacoai River in far western Brazil near the border with Colombia and Peru.Eliesio Marubo, a lawyer for Univaja, said that indigenous searchers tipped off the authorities after discovering traces of the men in the area, helping to focus the search.Register now for FREE unlimited access to Reuters.com"We understand that we are heading toward the end. The search area has been further reduced," Marubo said late on Monday.On Sunday, police said searchers had found belongings of the two men in a creek off the river near to where they were last seen on June 5. read more A federal police statement and a spokesman for Univaja, which has organized non-stop search efforts, have denied subsequent reports that two bodies had turned up in the search. read more Brazilian federal police said that they expect to conclude this week the forensic analysis of a blood sample collected from the boat of a man suspected to be involved in the disappearance.Sunday's police statement said the belongings of the two men that were recovered included an ID card for Pereira. A firefighter on a search team told reporters of a backpack with clothes and a laptop tied to a half-sunken tree trunk.Pereira, a former head of isolated and recently contacted tribes at the government's indigenous affairs agency Funai, was traveling on a research trip with Phillips, a freelance reporter who has written for the Guardian and the Washington Post and was working on a book on the Amazon.They were in the remote jungle area near the border with Peru and Colombia that is home to the world's largest number of uncontacted indigenous people. The wild and lawless region has lured cocaine-smuggling gangs, along with illegal loggers, miners and hunters.News of the pair's disappearance echoed globally, with human rights organizations, environmentalists and free press advocates urging Brazilian President Jair Bolsonaro to step up the search.Bolsonaro, who once faced tough questioning from Phillips at a news conference over weakening environmental law enforcement, said last week that the two men "were on an adventure that is not recommended" and speculated they could have been executed.In Brasilia, staff of Funai went on a one-day protest strike to demand greater security for indigenous experts working in the field and the replacement of the head of the agency appointed by Bolsonaro, a police officer.(This story refiles to add name of country to headline)Register now for FREE unlimited access to Reuters.comReporting by Jake Spring; Writing by Anthony Boadle Editing by Alistair BellOur Standards: The Thomson Reuters Trust Principles.

Search for missing journalist in Brazil nearing the end, indigenous group says.

Register now for FREE unlimited access to Reuters.comSummaryJune harvest vulnerable to fires from shellingCombine harvester operators unwilling to workSome farmers say financial resources running outMYKOLAIV, Ukraine, June 14 (Reuters) - As 10-metre high mounds of sunflower meal smoulder among the blackened ruins of one of Ukraine's top agricultural terminals, farmers in this front-line region are scrambling to survive a harvest under Russian fire.They see Russia's shelling of the Nika-Tera port facility in the southern city of Mykolaiv on June 4 as just the most dramatic example of a wider assault on a pillar of Ukraine's economy - and the world's."Agriculture is one of the few business sectors that is working... Of course they want to destroy it. They want to end this stream of income into the country," farmer Volodymyr Onyschuk said near a pile of Russian shell casings on his 2,000 hectare wheat and sunflower holding near Mykolaiv.Register now for FREE unlimited access to Reuters.comCrops will be vulnerable to fire caused by shelling, he said, and that could be "hell" for farmers when the harvest season begins in coming weeks.Asked how Mykolaiv farmers planned to reduce exposure to Russian actions, he said: "Let us just survive until the next harvest."Since Russia's Feb. 24 invasion of Ukraine, the world's fourth largest grains exporter, Kyiv has repeatedly accused Russia of attacking infrastructure and agriculture to provoke a global food crisis and pressure the West.Moscow, which calls its war a special military operation, blames Western sanctions and sea mines laid by Ukraine for the drop in food exports and rising global prices.PORT ATTACKFive shells hit a cluster of warehouses and grain conveyer belts at the Nika-Tera plant, rendering one of Ukraine's largest agricultural terminals unable to load or unload ships, local officials said. read more The blasts triggered an intense fire in sunflower meal stores. These were still smouldering during a brief press tour on Sunday. Separate grain elevators on the site were untouched."They are trying to undermine food security worldwide," said Georgy Reshetilov, First Deputy Head of the Mykolaiv military regional administration.The region's agricultural facilities have suffered an estimated 34 billion hryvnia ($1.16 billion) worth of losses, he said. Sites hit include a large producer of tomato pulp and a large number of farms.Shelling is feeding fear across a sector already hamstrung by Russia's blockade of the Black Sea, the primary route for Ukraine's vast agricultural exports. read more Combine harvester operators are leery of bringing their equipment to the region, fearing shelling along and possible mines and munitions in the fields, farmers said.Piles of burnt sunflower seed meal is pictured at a destroyed area of the Nika-Tera grain terminal, as Russia's attacks on Ukraine continues, in Mykolaiv, Ukraine June 12, 2022. REUTERS/Edgar SuSome grain traders are reluctant to even buy stocks from farmers, fearing they will bear responsibility if their storage facilities are subsequently attacked."Nobody can guarantee the safety of this harvest in a time of war," said Reshetilov.Supplies of fertilizer are running low, and without buyers for grain exports, farmers said they could struggle to raise funds to buy more supplies, even if they were available."Fuel has gone up. Fertilizer prices are insane. I don’t know how we are going to work next year," said Valentyn Matviyenko, who runs a farm near Bashtanka, around 60 kilometers northeast of Mykolaiv city where some land is within range of Russian artillery.Some traders are offering wheat prices that were one-third of pre-war highs, he said."Our financial resources are dwindling. We’ve put everything into this harvest," he said.SEA BLOCKADEFew in the region hold out hope that diplomatic efforts will unblock the Black Sea. They said a few convoys of ships would not even dent the volumes that need to be exported, and it is not economical to send the same grain by road.Additional grain storage in and around Mykolaiv has been ruled out due to the risk of shelling, Mayor Oleksandr Senkevych told Reuters. Instead the focus is on building facilities closer to the Romanian border where river transport is an option.The regional administration said it is looking at municipal and communal rather than private storage. The national government, meanwhile, is seeking to simplify export procedures and is offering farmers interest-free loans.Some are sceptical of state intervention: "The best help of the government is not to do anything .. business will find a way to export the grain," Mayor Senkevych said.After spraying fertilizer on a field of young sunflowers, tractor driver Vasyl Boyko, 38, said he does not believe a solution will be found unless Ukraine pushes back Russian forces and the West opens trade corridors in the Black Sea."We don't need words, we need weapons," he said.($1 = 29.2500 hryvnias)Register now for FREE unlimited access to Reuters.comWriting by Conor Humphries; editing by Tom Balmforth and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Ukraine's besieged farmers fear war-time harvest 'hell'.

Pope Francis addresses people as he arrives for the weekly general audience at the Vatican, June 8, 2022. REUTERS/Guglielmo MangiapaneRegister now for FREE unlimited access to Reuters.comSummaryPope praises Ukrainians for 'heroic' resistanceSays war should not be seen in black and white termsHopes to meet Russian Orthodox head Kirill in SeptemberROME, June 14 (Reuters) - Pope Francis has taken a new series of swipes at Russia for its actions in Ukraine, saying its troops were brutal, cruel and ferocious and that the invasion violated a country's right to self-determination.In the text of a conversation he had last month with editors of Jesuit media and published on Tuesday, he praised "brave" Ukrainians for fighting for survival but also said the situation was not black and white and that the war was "perhaps in some way provoked".While condemning "the ferocity, the cruelty of Russian troops, we must not forget the real problems if we want them to be solved," Francis said, including the armaments industry among the factors that provide incentives for war.Register now for FREE unlimited access to Reuters.com"It is also true that the Russians thought it would all be over in a week. But they miscalculated. They encountered a brave people, a people who are struggling to survive and who have a history of struggle," he said in the transcript of the conversation, published by the Jesuit journal Civilta Cattolica."This is what moves us: to see such heroism. I would really like to emphasize this point, the heroism of the Ukrainian people. What is before our eyes is a situation of world war, global interests, arms sales and geopolitical appropriation, which is martyring a heroic people," he said.Separately, in a message for the Roman Catholic Church's upcoming World Day of the Poor, Francis lamented that Ukraine had been added to a list of regional wars."Yet here the situation is even more complex due to the direct intervention of a 'superpower' aimed at imposing its own will in violation of the principle of the self-determination of peoples," he said.'NOT PRO-PUTIN'In the conversation with the Jesuit editors, Francis said that several months before President Vladimir Putin sent his forces into Ukraine, the pontiff had met with a head of state who expressed concern that NATO was "barking at the gates of Russia" in a way that could lead to war.Francis then said in his own words: "We do not see the whole drama unfolding behind this war, which was perhaps somehow either provoked or not prevented".Asking himself rhetorically if that made him "pro-Putin", he said: "No, I am not. It would be simplistic and wrong to say such a thing".Francis also noted Russia's "monstrous" use of Chechen and Syrian mercenaries in Ukraine.Russia calls its actions in Ukraine a "special operation" to disarm Ukraine and protect it from fascists. Ukraine and the West say the fascist allegation is baseless and that the war is an unprovoked act of aggression.Francis said he hoped to meet Russian Orthodox Patriarch Kirill at an inter-religious event in Kazakhstan in September. The two had been due to meet in Jerusalem on June but that trip was cancelled because of the war.Kirill, who is close to Putin, has given the war in Ukraine his full-throated backing. Francis said last month that Kirill could not become "Putin's altar boy", prompting a protest from the Russian Orthodox Church.Register now for FREE unlimited access to Reuters.comAdditional reporting by Francesca Piscioneri; Editing by Gareth JonesOur Standards: The Thomson Reuters Trust Principles.

Pope raps Russian 'cruelty' in Ukraine, says invasion violates nation's rights.

Crime June 14, 2022 / 8:47 AM / CBS/AP COVID pandemic exacerbates mental health issues Coronavirus pandemic exacerbates mental health issues globally 07:49 Japan's parliament approved tougher penalties for criminal defamation Monday in a move prompted by a bullied wrestler's suicide and that is raising free speech concerns.Parliamentary deliberations on toughening the defamation law began in January after Hana Kimura took her own life at 22.Kimura faced bullying and insults on social media in 2020 after appearing on "Terrace House," a hugely popular reality show on Japan's Fuji TV and Netflix, about three men and three women temporarily living together at a shared house in Tokyo. She became a target of hateful and vicious messages on social media after she was criticized for her performance in one of the episodes. Before her suicide, she tweeted that she received about a hundred hateful messages every day and she was hurt by them.Her death triggered a wave of discussion about anonymous bullying and hateful messages. Fuji TV canceled the rest of the planned production of the show and said the decision was to respond "sincerely" to the case. Hana Kimura reacts during a women's pro-wrestling event on March 8, 2020 in Tokyo, Japan. ETSUO HARA / Getty Images At least two people were convicted of defaming Kimura, but their court-ordered penalty — a 9,000 yen ($66) fine — triggered outrage from people who said the penalty was too light. Kimura's mother, Kyoko, also a famous professional wrestler, was a driving force behind the legal change. She testified to parliament in April and said she has continuously faced insults and accusations of using her daughter's name to make money.The amended law will be formally enacted later this year. It will add a prison term of one year with an option of forced labor, and fines of up to 300,000 yen ($2,220) to convicted violators — a change from only short-term detention and fines of less than 10,000 yen ($74) in the current law.The legislation was approved by the upper house on Monday after earlier passing in the lower house, the more powerful of Japan's two-chamber parliament. Due to the free speech concerns, the law is scheduled to be reviewed by outside experts in three years.Suicides spiked in Japan in 2020 during the COVID pandemic, especially among women. In 2021, suicides in the nation decreased slightly, according to data released this April, but suicides among women increased for the second consecutive year For immediate help if you are in a crisis in the U.S., call the toll-free National Suicide Prevention Lifeline at 1-800-273-TALK (8255), which is available 24 hours a day, 7 days a week. All calls are confidential.  In: Japan Suicide Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

In wake of reality star Hana Kimura's death, Japan approves tougher defamation penalties to include prison.

General Motors plans to launch a new all-electric van called the EV600 by the end of this year. The first 500 vehicles will be sold to FedEx.GMCheck out the companies making headlines in midday trading.Continental Resources — Shares soared 14% after the shale company announced an all-cash buyout proposal from the family trust of billionaire founder Harold Hamm. Continental Resources said it's yet to review the offer that would take the company private in a $25.4 billion deal.FedEx — Shares of the parcel delivery firm jumped nearly 13% after FedEx raised its quarterly dividend by more than 50% to $1.15 per share. FedEx also said it added two directors to its board as part of an agreement with hedge fund D.E. Shaw.Oracle — The database software company saw its shares pop more than 8% after reporting fiscal fourth-quarter results that exceeded analysts' estimates on the top and bottom lines. CEO Safra Catz said the company saw a "major increase in demand" for cloud infrastructure.Occidental Petroleum, Phillips 66, Marathon Oil — Shares of oil and gas companies jumped on the back of rising oil prices on Tuesday. Shares of Occidental Petroleum spiked more than 6%, Phillips 66 jumped nearly 5% and Marathon Oil rose more than 4%.National Vision — Shares jumped 9% following news that the optical retailer will enter the S&P SmallCap 600 index this week. National Vision will replace Renewable Energy Group, which was acquired by Chevron.Twitter — Shares added more than 2% following reports that Elon Musk will address Twitter employees during an all-hands meeting this week. Musk has walked back and forth on an offer to buy the social media company for $44 billion.C.H. Robinson Worldwide — Shares jumped 8% following a Reuters report that said C.H. Robinson Worldwide's international cargo transport business has drawn interest from Danish transport company DSV A/S. An acquisition of C.H. Robinson's global forwarding business could reportedly fetch $9 billion.Nokia — The U.S. traded shares of the Finnish communications network company rose nearly 2% following an upgrade to buy from neutral at Citi. The investment firm said in a note that Nokia has stopped losing market share to competitors and has conservative targets for its margins.Coty — Shares spiked more than 5% after the cosmetics company reaffirmed its current-quarter and full-year outlook.— CNBC's Yun Li and Jesse Pound contributed reporting

Stocks making the biggest moves midday: FedEx, Continental Resources, Oracle and more.

A gallon of regular gas costs an average $5 nationwide for the first time ever, according to AAA. In response to the recent surge in fuel prices, the IRS just made an unusual move that could help millions of drivers save a little more in taxes.The tax agency is increasing the "optional standard mileage rate" used to calculate tax deductions. For the second half of 2022, that rates will increase by 4 cents a mile, the IRS announced last week.This higher mileage rate, which are used to calculate certain tax deductions for business and other uses of a car, like driving to a medical appointment, will take effect on July 1.Mileage rate changes 'to help taxpayers'Normally, mileage rates are adjusted for inflation only once per year, but given a few factors, the IRS has decided to make this midyear change."The IRS is adjusting the standard mileage rates to better reflect the recent increase in fuel prices," IRS Commissioner Chuck Rettig said in a statement. "We are aware a number of unusual factors have come into play involving fuel costs, and we are taking this special step to help taxpayers, businesses and others who use this rate," he said.The mileage rates that will increase in the second half of 2022 include:Business use of a car, which will rise from 58.5 cents to 62.5 cents per mile.Deductible medical travel and moving expenses for active-duty members of the military, which will rise from 18 cents to 22 cents per mile.Charitable use of a car will remain at 14 cents per mile since it's fixed by law and not subject to adjustments for inflation.How to calculate your mileage for business purposesIf you're self-employed and drive for work, there are two ways to calculate your mileage for your tax return. You can use the standard mileage rate or calculate your actual costs.The standard mileage rate means you keep track of the miles you've driven for work, or for approved medical visits, and then you multiply them by the new rate per mile.It's important to keep a good record of your mileage, Howard Samuels, a certified public accountant at Samuels & Associates in Florham Park, New Jersey told Grow earlier this year. "There are several apps that are out there that you can actually download and when you get in the car you hit the app to track your miles," he says.Once you've tracked those miles, here's an example of what your deduction would look like: Let's say you deliver food and you drove 1,000 miles for work from July 1 to December 31. You would multiply 1,000 miles by 0.625 per mile and could qualify to deduct $625 when you file your 2022 tax return.Video by Stephen ParkhurstThe other method for deducting your car use on your taxes is called deducting the actual cost, which requires more record keeping of expenses and purchases. This type of deduction allows you to include expenses like gas, oil changes, new tires, insurance, and fees like for a license or vehicle registration.Deducting mileage for medical purposesBroadly speaking, you can qualify to take a medical expense deduction if your unreimbursed medical and dental costs in a given year exceed 7.5% of your adjusted gross income. Eligible taxpayers can deduct the portion of those expenses exceeding that threshold.Using a car for medical appointments can count as an expense: You can tally the mileage you drive when transporting yourself, a dependent, or a spouse to receive medical treatment.Let's say you are undergoing treatment for a medical issue and you drive 500 miles for medical appointments from July 1 to December 31. You would multiply 500 miles by 0.22 per mile and include $110 as a qualifying medical expense.This content is provided for informational purposes only and is not intended to provide, and should not be relied on for, accounting, legal, or tax advice. Consult your accountant, tax, or legal advisor regarding such matters.More from Grow:I'm on track to retire with millions: Here's how I bounced back from my 3 biggest money mistakesWe compared prices at Aldi, Trader Joe's, Target, and Walmart in 3 cities — here's where staples cost the mostMy goal is financial independence in 2022: Here are 5 ways I stay on track despite inflation

IRS makes a surprise move that could help entrepreneurs, side hustles save on taxes as gas prices hit $5/gallon.

Rbkomar | Moment | Getty ImagesRemember better days are comingThe best and worst days tend to be clustered together, data from J.P. Morgan shows. If you sell, you may miss the upside — and that will cost you."Trying to time the market is likely going to result in you missing out on some really, really good days," said Jordan Jackson, global market strategist at J.P. Morgan.On April 29, the market was down 3.6% for the day. Then, five days later, on May 4, the market rallied 2.99%.You want to make sure your portfolio is balanced.Rita Assafvice president of retirement leadership at Fidelity InvestmentsMoreover, on March 7, the S&P 500 was down about 2.95%. Two days later, on March 9, the index was up 2.57%.The best and worst days tend to be clustered together, Jackson said. Moreover, if you miss out on the upswing, it's hard to make up for those lost gains.Revisit your retirement allocationsWhen planning for your retirement, it is wise to have a healthy mix of equities and bonds that match your time horizon.Ideally, your diversified investment strategy will expose you to different areas of the market to help manage your overall portfolio risk, according to Rita Assaf, vice president of retirement leadership at Fidelity Investments. That includes U.S. small cap, large cap and international stocks, as well as investment grade bonds.Because stocks have generally climbed for a prolonged period of time, it's also important to check to make sure that your portfolio has not drifted to a higher equity allocation than you originally intended, Assaf said."You want to make sure your portfolio is balanced and that your equity allocation is in line with your goals," Assaf said.Don't lose sight of near-term goalsWhile long-term retirement investors want to stay the course, those with shorter time horizons – say three to five years out – should take a different approach.That may include a down payment to buy a home or a couple of years' worth of spending needs if you're already in retirement.For those goals, your main goal should be principal preservation, according to Greg McBride, chief financial analyst at Bankrate.com."Don't be tempted to chase returns at the expense of principal preservation or easy access when needed," he said.With the Federal Reserve is poised to raise interest rates, the good news is savers with near-term goals will likely be rewarded with higher returns on their money.Online savings accounts are "absolutely" an option that may fill these savers' needs, McBride said. What's more, these online accounts will likely be among the first to raise their rates in response to the Fed's actions.Certificates of deposit may also be another suitable choice. But it would be wise to choose a six-month CD and then adjust your strategy, rather than locking in a multi-year CD at this time, McBride said.Similarly, I bonds have been touted as an inflation hedge, as they will provide a 9.62% interest rate in the coming months.But there are limitations, McBride said. For one, you cannot cash an I bond in the first year. Moreover, if you cash out before the five-year mark, you will forfeit three months' interest.

Here are some tips to stay on track with your retirement and short-term goals amid choppy markets.

U.S. June 14, 2022 / 11:26 AM / CBS/AP Yellowstone flooding prompts evacuations Yellowstone flooding washes out roads, prompts evacuations 00:56 A child and two adults are missing after they were swept away in a drainage ditch in Milwaukee following severe thunderstorms that brought heavy rains and damaging winds to a wide swath of the Midwest and parts of the South, authorities said.Witnesses told police the 11-year-old boy fell about 6:30 p.m. Monday into the ditch, which carries water through a tunnel to the Kinnickinnic River. According to police, two men, ages 34 and 37, entered the water in an attempt to rescue the boy, but all three were swept away."In that tunnel, we have no idea what was going on in that tunnel," said Assistant Fire Chief DeWayne Smoots. Divers have been searching for an 11-year-old child and two Milwaukee men who were swept into a drainage tunnel near 27th and Loomis after heavy rains Monday. The search has now been suspended until daylight. MORE HERE: https://t.co/2yOt2PdIM9 pic.twitter.com/x2X8bfnINB— CBS 58 News (@CBS58) June 14, 2022 Crews didn't enter the tunnel due to dangerous conditions, and instead sent a drone inside in an attempt to locate them, officials said. Names of the missing weren't immediately released. Police said all three knew each other, but didn't elaborate. Family members told WDJT that a boy was playing ball with his father when the  son somehow wound up in the water and the dad went in after him.  The family told the station another adult family member jumped in, too.The water was deep and fast-flowing following Monday's severe storms, which also caused damage and power outages in Illinois, Indiana and Michigan. And the storms continued to pack a punch as they rolled into West Virginia early Tuesday, where numerous roads were closed by downed trees and power lines. The storms came as high temperatures and humidity settle in over states stretching through parts of the Gulf Coast to the Great Lakes and east to the Carolinas. More than 100 million people were facing combination of heat advisories, excessive heat warnings and excessive heat watches through Wednesday following record weekend temperatures in parts of the West and the Southwest.In Illinois, a supercell thunderstorm with winds in excess of 80 mph toppled trees and damaged power lines Monday evening as it left a trail of damage across the Chicago area and into northwestern Indiana, the National Weather Service said. Tens of thousands were without power.Numerous reports of wind damage were reported along the storm's path, with Chicago's O'Hare International Airport recording an 84 mph wind gust, the weather service said. Crews planned to assess the storm damage Tuesday to determine if any tornadoes touched down.In Bellwood in Chicago's west suburbs, village officials said winds stripped the roof off an apartment building, injuring a young woman who was hospitalized after being hit by falling debris but was expected to be fine. "We just heard people screaming that the roof was off, get out, get out," resident Larhonda Neal told WLS-TV.In northwestern Indiana, the weather service reported storm damage in Ogden Dunes and said hail 1.5 inches in diameter pummeled the Lake County town of New Chicago on Monday night.In northeastern Indiana, the weather service said a 98 mph wind gust was recorded at Fort Wayne International Airport, the strongest wind the airport has ever recorded, eclipsing the previous record of a 91 mph gust recorded on June 30, 2012. Extensive storm damage and downed trees were reported in Fort Wayne, where winds ripped siding and insulation from the hangar of SkyWest, an aircraft maintenance company southwest of the Fort Wayne airport's terminal and runways, exposing the planes inside, WANE-TV reported.In a tweet Tuesday, the airport said, "While there is an abundance of damage, all staff are safe and no injuries were reported." SEVERE WEATHER UPDATEFWA took a major hit from last night's storms with a number of airport and airport-related facilities suffering from various degrees of damage. While there is an abundance of damage, all staff are safe and no injuries were reported. (Continued...)— Fort Wayne Airport (@flyfwa) June 14, 2022 In: Storm Milwaukee Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Boy, 2 adults missing after being swept away in drainage ditch following severe storms in Milwaukee.

Scotland’s First Minister Nicola Sturgeon speaks at a news conference on a proposed second referendum on Scottish independence, at Bute House in Edinburgh, Scotland, June 14, 2022. REUTERS/Russell Cheyne/PoolRegister now for FREE unlimited access to Reuters.comLONDON, June 14 (Reuters) - Scottish First Minister Nicola Sturgeon on Tuesday said she was nearly ready to give more details on how the nation's devolved parliament could move ahead with a new independence referendum without the consent of the British government.British Prime Minister Boris Johnson and his Conservative Party, which is in opposition in Scotland, strongly oppose a referendum, saying the issue was settled in 2014 when Scots voted against independence by 55% to 45%.But pro-independence parties won a majority in the Scottish parliament in an election held last year, which Sturgeon said gave her an "indisputable democratic mandate" to push ahead with plans for a second referendum.Register now for FREE unlimited access to Reuters.comSturgeon, leader of the pro-independence Scottish National Party (SNP), is aiming to hold a vote by the end of 2023 even though British Prime Minister Boris Johnson has refused to issue a "Section 30" order to allow one."If we are to uphold democracy here in Scotland, we must forge a way forward, if necessary without a Section 30 order... However, we must do so in a lawful manner," Sturgeon said in a speech.She said work was underway on how to proceed, given the British government contests that the Scottish parliament has the power to grant such a vote."I do plan to give a significant update to parliament very soon indeed," she said.Johnson said that his government's position had not changed and that he wanted to focus on recovering from the pandemic and tackling the cost of living crisis."The decision was taken by the Scottish people only a few years ago," he told reporters."I think we should respect that, and we should also focus on what I think the whole of the UK - Scotland, England, everybody - wants us to look at, which is the economic position we're in."Sturgeon, a scathing critic of Johnson and Brexit, was speaking at the launch the first of several policy papers making the case for independence.She argued that Scotland was similarly sized to several other European countries that were fairer and wealthier than Britain."Scotland under Westminster control is being held back," Sturgeon said. "With independence, we too would have the levers and the autonomy that these countries take for granted to help fulfil their potential."Register now for FREE unlimited access to Reuters.comReporting by Alistair Smout; additional reporting by William James; editing by Alex Richardson, William MacleanOur Standards: The Thomson Reuters Trust Principles.

Scotland's Sturgeon says nearly ready to outline plan for independence vote.

Register now for FREE unlimited access to Reuters.comBRUSSELS, June 14 (Reuters) - The European Union signed on Tuesday an agreement with Bavarian Nordic (BAVA.CO) for the supply of about 110,000 doses of vaccines against monkeypox, the EU Commission and the company said.The vaccines will be bought with EU funds and delivered to EU states, EU health commissioner Stella Kyriakides said. Doses are to be delivered in proportion to the population, starting with states with the most urgent needs.Deliveries will start immediately and will be completed in the coming months, the company said. It raised its outlook for this year's financial results after the deal with the EU and other smaller deals for the supply of its vaccine.Register now for FREE unlimited access to Reuters.comAbout 900 cases of monkeypox have been reported in 19 EU countries and also in Norway and Iceland, which will be entitled to receive doses despite not being EU members, the Commission said.Test tubes labelled "Monkeypox virus positive and negative" are seen in this illustration taken May 23, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoDanish biotech Bavarian Nordic's vaccine, known as Imvanex in Europe and Jynneos in the United States, has been approved against smallpox.The vaccine is not authorised yet in the EU against monkeypox, the EU Commission said."However, the smallpox vaccine also protects people from monkeypox, since this virus is closely related to the smallpox virus," the Commission said.The EU drugs regulator is currently in talks with Bavarian Nordic for a speedy approval of the vaccine also against monkeypox, the Commission said.Some EU states, including Germany and Spain, have already made their own orders for monkeypox vaccines. read more Register now for FREE unlimited access to Reuters.comReporting by Francesco Guarascio @fraguarascio, Anna Ringstrom and Bart Meijer; Editing by Ed Osmond, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

EU signs deal with Bavarian Nordic for supply of 110,000 monkeypox vaccines.

Register now for FREE unlimited access to Reuters.comSummaryMayor says some evacuations still possibleDefenders holding out against Russian assaultsUkraine pleads for more heavy weapons from WestReports gains against Russian forces in southKYIV, June 14 (Reuters) - Ukraine said its forces were still trying to evacuate civilians from embattled Sievierodonetsk on Tuesday after Russia destroyed the last bridge to the devastated eastern city.The Ukrainian defenders were holding out against the Russians in a battle which has seen ground change hands several times over the past few weeks."Russian troops are trying to storm the city, but the military is holding firm, Sievierodonetsk's Ukrainian mayor Oleksandr Stryuk said.Register now for FREE unlimited access to Reuters.comHe described the situation as "very difficult".Although the last bridge over the Siverskyi Donets river had been felled, evacuations were still being carried out "every minute when there is a lull and there is a possibility of transportation," Stryuk said. "Every possible chance is taken."Ukraine says more than 500 civilians are trapped inside Azot, a chemical factory where its forces have resisted weeks of Russian bombardment and assaults that have reduced much of the city to ruins.Regional governor Serhiy Gaidai said: "The shelling is so powerful that people can no longer stand it in the shelters, their psychological state is on the edge. The last few days, the residents are finally ready to go."Russia said it would give the Ukrainian fighters holed up in the chemical plant a chance to surrender on Wednesday morning. Fighters should "stop their senseless resistance and lay down their arms" from 8 a.m. Moscow time (0500 GMT), Interfax news agency quoted ​Mikhail Mizintsev, head of Russia's National Defence Management Centre, as saying.Civilians would be let out through a "humanitarian corridor", he said.Both sides claim to have inflicted huge casualties in the fighting over the city, Russia's main target in its battle for the east of the country after it failed to capture the capital Kyiv in March, in the early weeks of its invasion of Ukraine.Ukraine still holds Lysychansk, Sievierodonetsk's twin city on higher ground on the western bank of the river. But with all the bridges now cut, its forces acknowledge a threat that they could be encircled in Sievierodonetsk.Damien Megrou, spokesperson for a unit of foreign volunteers helping to defend Sievierodonetsk, said there was a risk of leaving "a large pocket of Ukrainian defenders cut off from the rest of the Ukrainian troops" - as in Mariupol, the Black Sea port that surrendered last month after months of Russian siege.BRUTALThe battle for Sievierodonetsk - a city of barely more than 100,000 people before the war - is now the biggest fight in Ukraine as the conflict has shifted into a war of attrition.Ukrainian servicemen ride American 155 mm turreted self-propelled howitzers M109, amid Russia's attack on Ukraine, in Donetsk region, Ukraine June 13, 2022. REUTERS/Gleb GaranichKyiv has said it is losing 100-200 soldiers killed each day, with hundreds more wounded.Russia gives no regular figures of its own losses but Western countries say they have been massive, as Moscow has committed the bulk of its firepower to delivering one of President Vladimir Putin's stated objectives: forcing Kyiv to cede the full territory of two eastern provinces.Momentum in Sievierodonetsk has shifted several times over the past few weeks - with Russia concentrating its overwhelming artillery firepower on urban districts to obliterate resistance, then sending in ground troops vulnerable to counter-attacks.Bigger battles could lie ahead for the wider Ukrainian-held pocket of the Donbas region, nearly all on the opposite bank of the river which Russian forces have found difficult to cross. Ukraine says Russia is massing to assault Sloviansk from the north and along a front near Bakhmut to the south.In Washington, a senior U.S. defence official said Putin likely still wanted to capture much if not all of Ukraine but has had to narrow his tactical objectives in the war."They may make tactical gains here and there. The Ukrainians are holding up. I do not think the Russians have the capacity to achieve those grandiose objectives," Under Secretary of Defense for Policy Colin Kahl said.Ukrainian officials renewed their pleas for the West to send more and better artillery as well as tanks, drones and other heavy weapons.Deputy Defence Minister Hanna Malyar told a briefing that Ukraine had received only 10% of the arms it needed from its allies. "Without the help of our Western partners, we will not be able to win this war," she said.Western countries have promised NATO-standard weapons - including advanced U.S. rockets. But deploying them is taking time."What we don't have enough of are the weapons that really hit the range that we need to reduce the advantage of the Russian Federation's equipment," President Volodymyr Zelenskiy told an online press briefing on Tuesday.DRAIN TROOPSBeyond the Donbas, Ukrainian officials hope that Russia's focus on capturing the east will drain its forces from other areas and pave the way for counter-attacks to recapture other territory.Ukraine retook the area around its second largest city Kharkiv in May and has reported small but steady gains in recent days in the south, the biggest swathe Russia retains of the territory it seized after its invasion in February.Serhiy Khlan, adviser to the head of the southern, mainly Russian-occupied Kherson province, said Ukraine was having tactical success retaking territory there for a second straight week. Troops had already advanced 5 km (three miles) from Tavriysk, a town on the south bank of the Dnipro river east of Kherson city, and were gradually advancing, he said.Reuters was unable to verify any reports from the area.Register now for FREE unlimited access to Reuters.comReporting by Reuters bureaux; Writing by Peter Graff and Angus MacSwan; Editing by Gareth Jones and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

Ukraine forces struggle to evacuate civilians from embattled Sievierodonetsk.

World June 14, 2022 / 11:29 AM / CBS News China defends "zero-COVID" strategy China rejects World Health Organization's criticism of "zero-COVID" strategy 03:13 Just over a week ago, residents of the China's capital flocked to bars and restaurants to celebrate. There were two reasons to raise a glass. The first was the return of normal life after a patchwork of anti-coronavirus lockdowns kept businesses closed and confined many people to their homes for months. The second was their narrow escape. Beijingers had dodged the kind of massive lockdown that Chinese authorities imposed on Shanghai, paralyzing the global business hub for two months and leaving some 25 million people trapped at home. China's "zero-COVID" policy and strict lockdowns slow economy 03:47 But it turned out the celebrations were premature. Beijing's COVID-19 restrictions were lifted at midnight on June 6. Joyous crowds — unmasked — flooded into bars, including one called "Heaven" in the nightlife district of prosperous Chaoyang. "Heaven" was known for its inexpensive drinks. It's now also known as ground-zero of Beijing's second wave of COVID infections. Heaven Supermarket Bar in Chaoyang district is seen temporarily closed on June 12, 2022 in Beijing, China.  VCG/VCG/Getty Six days after party night, the outbreak that started in the club had grown to 287 cases, which is alarming by Chinese standards. It's prompted a fast U-turn by Beijing authorities: They not only shut down dozens of bars and hundreds of restaurants in the vicinity, but all entertainment venues including karaoke bars and mahjong houses. Local government health workers traced and ordered into isolation all those who were out partying near the initial Chaoyang outbreak, as well as thousands of their close contacts — and even thousands of the contacts' contacts. Some of them have ended up under strict quarantine, with their entire buildings and everyone in them sealed off.Surprise lightning lockdowns continue to pop up in the capital. Tom Cheshire of U.K.-based Sky News tweeted on Tuesday that he was suddenly confined to his gym in Beijing because a COVID-19 case had visited the building. People line up for COVID-19 testing in Chaoyang district, June 13, 2022 in Beijing, China. Jia Tianyong/China News Service/Getty Authorities in Chaoyang launched a three-day mass testing program to screen 3.5 million people. It's all part of the so-called dynamic zero-COVID approach endorsed by China's President Xi Jinping, which aims to catch and isolate every single positive case in an affected area.This mass testing looks set to continue, even as the rest of the world tries to move beyond the pandemic with many governments lifting anti-COVID restrictions. Chinese financial services company Soochow Securities released an estimate over the weekend that 10.8 billion COVID-19 tests will have been carried out in China between April and the end of June, at a cost of 174.6 billion yuan. That's $26 billion.Ironically, China paying domestic companies for all those tests is expected to boost the nation's economic growth rate in the second quarter, and offset the slowdown caused by shrinking consumption. In: coronavirus disease 2019 COVID-19 lockdown China Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Beijing residents partied after dodging a COVID lockdown. The celebrations caused an outbreak, prompting new lockdowns.

Cloth sacks of cocaine are seen during a Portuguese and Spanish police news conference presenting the 5.2 tons of cocaine seized in the Atlantic Ocean, in Almada, Portugal, October 18, 2021. REUTERS/Pedro Nunes/File PhotoRegister now for FREE unlimited access to Reuters.comLISBON, June 14 (Reuters) - Russia's invasion of Ukraine is triggering shifts in the smuggling routes for illegal drugs to Europe, the EU drugs agency warned on Tuesday.European Monitoring Centre for Drugs and Drug Addiction (EMCDDA) director Alexis Goosdeel said the war had already had a "direct impact" on one of the heroin trafficking routes out of Afghanistan that used to pass through Ukraine and other neighbouring nations."Drug traffickers have no interest to continue to use this route," he told an online news conference, adding there were already signs of increased trafficking on the borders between Turkey and Bulgaria and Turkey and Greece.Register now for FREE unlimited access to Reuters.comGoosdeel said the conflict was also forcing smugglers using the Black Sea to opt for other routes as some ports were now out of reach. He said it was likely trafficking would increase through the Greek islands and the southern Mediterranean.In its annual report, the Lisbon-based EMCDDA also said many people who had suffered "severe psychological stress" during the conflict may become more vulnerable to substance misuse problems, and that health services in European countries, especially those bordering Ukraine, were likely to become more strained as drug users fleeing the conflict required support."Continuity of treatment, language services and the provision of accommodation and social welfare support are likely to be key requirements," it said, adding that even those who were not drug users were at risk.The agency also said the difficult financial situation in Afghanistan that has been under Taliban control since August could make drug revenues a more important source of income and lead to an increase in heroin trafficking to Europe.It said that despite a ban on the production, sale and trafficking of illicit drugs, poppy cultivation appeared to continue in Afghanistan.Register now for FREE unlimited access to Reuters.comReporting by Catarina Demony; Editing by Andrei Khalip, Toby Chopra and Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

Ukraine war forces switch in drug trafficking routes, EU body warns.

A Redfin Corp. 'For Sale' sign stands outside of a home in Seattle, Washington.David Ryder | Bloomberg | Getty ImagesReal estate firms Redfin and Compass are laying off workers, as mortgage rates rise sharply and home sales drop.In filings with the Securities and Exchange Commission, Compass announced a 10% cut to its workforce, and Redfin announced an 8% cut.Shares of both companies fell Tuesday. Redfin's stock touched a new 52-week low. Rising rates and overheated home prices, which are now up over 20% from a year ago according to various surveys, have crushed affordability. Home sales have been dropping for several straight months, and the fall is expected to worsen.Mortgage demand has fallen to its lowest level in over two decades. Rates have taken off since the start of this year, rising from 3.29% in early January to 6.38% now, according to Mortgage News Daily. Rates shot up more than half a percentage point in just the past three days, as concerns over inflation hit the bond market. "Due to the clear signals of slowing economic growth we've taken a number of measures to safeguard our business and reduce costs, including pausing expansion efforts and the difficult decision to reduce the size of our employee team by approximately 10%," a Compass spokesperson said.The Redfin filing had an attachment from CEO Glenn Kelman, who writes a regular blog on the company's website. In the blog posted Tuesday, Kelman wrote, "With May demand 17% below expectations, we don't have enough work for our agents and support staff, and fewer sales leaves us with less money for headquarters projects."Kelman went on to say that with mortgage rates increasing faster than at any point in history, "We could be facing years, not months, of fewer home sales, and Redfin still plans to thrive. If falling from $97 per share to $8 doesn't put a company through heck, I don't know what does."

Real estate firms Compass and Redfin announce layoffs as housing market slows.

Travellers crowd the security queue in the departures lounge at the start of the Victoria Day holiday long weekend at Toronto Pearson International Airport in Mississauga, Ontario, Canada, May 20, 2022. REUTERS/Cole BurstonRegister now for FREE unlimited access to Reuters.comOTTAWA, June 14 (Reuters) - Canada will suspend its requirement to be vaccinated against COVID-19 for domestic travel and to work in the civil service, a government source said on Tuesday, after provinces lifted most health restrictions in recent months.The mandates may be reinstated later, especially in the case of a surge of a new variant, the source, who was not authorized to speak on the record, said. International travelers coming to Canada still will be required to show proof of vaccination.Unvaccinated people departing from Canada will be allowed to travel, the source said.Register now for FREE unlimited access to Reuters.comThe mandates for domestic travel and the civil service have been in place since Oct. 30 of last year, about a month after Liberal Prime Minister Justin Trudeau won a third election in part by promising to take a hard line on vaccinations.Spurred by the mandate, 95% of public employees confirmed they had received two shots of a COVID-19 vaccine.This summer, with infections declining, most provinces have dropped even their masking requirements, and the Trudeau government has come under increasing pressure from the opposition and industry to relax its mandates more broadly.The travel mandates have also been blamed by some airline industry officials for lengthening already long wait times at airports.In recent weeks, Toronto's Pearson airport has had planes stuck at gates and hours-long security lines because of staffing shortages. Last week Canada said random testing would be suspended at all airports until July 1, also with an eye on reducing airport congestion. read more The government will hold a news conference later on Tuesday to announce the suspension of the mandates, news that was first reported late on Monday by the Toronto Star and the Canadian Broadcasting Corp.Register now for FREE unlimited access to Reuters.comReporting by Steve Scherer Editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

Canada to suspend vaccine mandates for domestic travel, civil service - source.

Starship prototypes are pictured at the SpaceX South Texas launch site in Brownsville, Texas, U.S., May 22, 2022. Picture taken May 22, 2022. Veronica Cardenas | ReutersSpaceX is closing in on the next major milestone in its Starship rocket development, as the company works to complete environmental impact requirements outlined this week by the Federal Aviation Administration.Elon Musk on Tuesday said the company will have a Starship prototype rocket "ready to fly" by July, with his space venture aiming to reach orbit with the vehicle for the first time.SpaceX had hoped to conduct the Starship orbital flight test as early as last summer, but delays in development progress and regulatory approval steadily pushed back that timeline. The FAA made a crucial environmental decision Monday that concluded a long-awaited assessment of the program. SpaceX needs to fulfill more than 75 of the agency's actions before applying for the launch license required for the flight test.Musk said in a series of tweets that he spent time at the SpaceX facility in Boca Chica, Texas, on Monday evening "reviewing progress" on the rocket. He added that the company "will have a second Starship stack ready to fly in August" and aims to conduct flights "monthly thereafter."The company is developing its nearly 400-foot-tall, reusable Starship rocket with the goal of carrying cargo and people beyond Earth. The rocket and its Super Heavy booster are powered by SpaceX's Raptor series of engines. SpaceX has completed multiple high-altitude flight tests with Starship prototypes, but it has yet to reach space.

Elon Musk says SpaceX will have Starship 'ready to fly' in July, amid FAA work.

U.S. June 14, 2022 / 11:45 AM / CBS News Nature: Black bears Nature: Black bears 03:12 A 350-pound black bear was euthanized after attacking a family of campers at Great Smoky Mountains National Park in Tennessee early Sunday morning, officials said. The family of five, including two parents, a 3-year-old girl and their dog, were spending the night at Elkmont Campground when the bear tore into their tent around 5:20 a.m. local time, according to the National Park Service. The bear attacked the girl and her mother after entering their tent, and both sustained what park officials described as "superficial lacerations to their heads" as a result of the encounter. The child's father managed to frighten the bear and force it to leave the area, after which the family reported the incident to the campground and left the site to get medical attention. Officials interviewed the father as well as other campers to collect identifying information about the bear. Park rangers and wildlife biologists closed the surrounding area and set traps, which ultimately lured a bear that matched the campers' descriptions to the site. The bear was captured and "humanely euthanized" on Monday after officials determined it posed risks to human safety, the National Park Service said.  In this Sept. 17, 2015 photo released by the Great Smoky Mountains National Park, a female bear climbs a Chinese chestnut tree in Great Smoky Mountains National Park, Tenn.  / AP The agency noted the bear's behavior as "food-conditioned" — a term for animals that have pursued and obtained non-natural foods, damaged property or displayed aggressive behavior for reasons other than self-defense — rather than explicitly predatory. Food-conditioned bears are removed from the wild because of human safety concerns. Great Smoky Mountains National Park, a protected area along the border of Tennessee and North Carolina, is one of the largest designated regions where black bears exist in the U.S. Seeing one during a visit to the national park is not uncommon, as biologists estimate roughly 1,500 black bears live in the Smokies, equating to a population density of about two bears per square mile. Black bear attacks on humans are rare, and only a handful have been reported in Great Smoky Mountains National Park. Very few of them were fatal. In: Black Bear tennessee Bear National Park Service Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

350-pound black bear euthanized after attacking 3-year-old girl and her mother during family camping trip.

A person takes a COVID-19 test in Times Square as the Omicron coronavirus variant continues to spread in Manhattan, New York City, U.S., December 26, 2021. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comJune 14 (Reuters) - The BA.4 and BA.5 sub-variants of Omicron are estimated to make up about 8.3% and 13.3% of the coronavirus variants in the United States as of June 11, the U.S. Centers for Disease Control and Prevention (CDC) said on Tuesday.The two fast-spreading sublineages were added to the World Health Organization's monitoring list in March and have also been designated as variants of concern in Europe.The European Union's disease prevention agency said on Monday the new subvariants are spreading more quickly than other variants, which could lead to more hospitalizations and deaths as they become dominant in the continent. read more Register now for FREE unlimited access to Reuters.com"I'm very concerned," said Dr. Gregory Poland, head of Mayo Clinic's vaccine research group in Rochester, Minnesota, adding that data from South Africa shows the subvariants are better at circumventing immunity provided through vaccines and previous infections.Vaccines or previous infection may provide a benefit against death or severe illness, but BA.4 and BA.5 could potentially cause a surge in infections during the summer, just as kids go back to school and people's second booster may have worn off, he said.BA.4 made up 5.4% of the variants in the United States for the week of June 5, according to CDC estimates, while BA.5 made up 7.7% of the variants.The seven-day moving average of U.S. COVID-19 cases stood at 105,615 as of June 11, up 6.7% from a week earlier.(This story corrects quote in paragraph 5 to say BA.4 and BA.5 could potentially cause a surge in infections, not death and severe illness, during the summer.)Register now for FREE unlimited access to Reuters.comReporting by Mrinalika Roy in Bengaluru and Julie Steenhuysen in Chicago; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Omicron sub-variants BA.4, BA.5 account for 21% of COVID variants in U.S. - CDC.

A worker grabs a pack of 20-euro notes at the Bank of Portugal fortified complex in Carregado, Alenquer, Portugal, May 17, 2022. REUTERS/Pedro NunesRegister now for FREE unlimited access to Reuters.comJune 14 (Reuters) - Euro area interbank borrowing rates saw their biggest daily jumps in over 10 years on Tuesday, reflecting huge increases in market expectations for European Central Bank rate hikes.Euribor is a crucial benchmark as all sorts of financial products, from interest rates swaps, savings accounts to mortgages, are priced off of them. That means increases will reflect a tightening of financial conditions.The six-month Euribor fixing rose 6.7 basis points from Monday in its biggest daily jump since 2011. Fixed at 0.175% on Tuesday, it was at the highest since 2014.Register now for FREE unlimited access to Reuters.comThe 12-month fixing rose 16.5 basis points in its biggest daily jump since 2008. Fixed at 0.957%, it was at the highest since 2012.The commonly used three-month Euribor fixing rose 3.8 basis points from Monday in its biggest jump since April 2020 and was fixed at -0.243%, the highest since then.Three and six-month EuriborDZ Bank strategist at Rene Albrecht said it was "not surprising" to see the fixings move higher as a result of sharp increases in market pricing of ECB rate hike expectations.Investors now price almost 90 basis points of ECB rate hikes by September, up from around 75 bps after last week's policy meeting, while bets on the terminal rate have risen sharply too. read more Two-year German bond yields, sensitive to interest rate expectations, rose 19 bps on Monday in their biggest daily rise since 2011."I don't think it's a credit issue because the money market is still flooded with liquidity due to the TLTROs," Albrecht said, referring to cheap, long-dated ECB loans."I think there's still some capacity for rates to move up in the money markets before really becoming a problem and restricting economic activity in the broader sense. We just left negative territory," he added.Along with bond yields, Euribor rates have risen sharply this year. Both three and six-month Euribor were below -0.50% at the start of the year.Register now for FREE unlimited access to Reuters.comReporting by Yoruk Bahceli; editing by Sujata Rao and Dhara RanasingheOur Standards: The Thomson Reuters Trust Principles.

Euro interbank borrowing rates see biggest daily surge in over 10 years.

Politics June 14, 2022 / 11:56 AM / CBS News Jan. 6 panel focuses on Trump's false claims House Jan. 6 hearing focuses on Trump's baseless election fraud claims 08:27 Washington — The House select committee probing the Jan. 6 assault on the U.S. Capitol charted a path Monday showing how the Trump campaign and allies used baseless claims of election fraud to raise millions of dollars from the former president's supporters — money that was then funneled into the pockets of entities with close ties to Trump.The fundraising roadmap was laid out by Rep. Zoe Lofgren, a Democrat from California who played a leading role in the committee's second day of hearings, which focused on how Trump embraced unfounded claims the election was stolen even as close administration and campaign advisers knew that wasn't the case.The Trump campaign, she said, "used these false claims of election fraud to raise hundreds of millions of dollars from supporters who were told their donations were for the legal fight in the courts. But the Trump campaign didn't use the money for that. The 'Big Lie' was also a big ripoff." According to the committee's findings, detailed in a video played near the end of the hearing, the former president's campaign pushed the narrative of a rigged election even as legal challenges raising the same claims had failed before dozens of judges, including some appointed by Trump himself.Between Nov. 3, 2020, and Jan. 6, 2021, the former president's supporters were hounded with scores of emails — as many as 25 per day — that encouraged them to "fight back" against a "left-wing mob" undermining the election. The missives urged supporters to "step up" by contributing to a so-called "Election Defense Fund" that would be used to cover election-related litigation, according to Amanda Wick, senior investigative counsel for the House panel.  But one former staffer with the Trump campaign, Hanna Allred, told the committee in a closed-door interview, "I don't believe there is actually a fund called the Election Defense Fund." Gary Coby, the former digital director for the Trump campaign, said in separate testimony that the Election Defense Fund was a marketing tactic. Claims the election was stolen from Trump proved to be a significant motivator for his supporters, with the former president and his allies raking in $250 million, nearly $100 million of which was contributed in the first week after the election, according to Wick. The Trump campaign fundraised off of the false election claims through Jan. 6, Wick said, with the last email sent 30 minutes after the Capitol building was first breached by the mob of the former president's supporters.Most of the money went not to challenging election results in the courts, but rather to the Save America PAC, which Trump launched a week after the 2020 election. The committee found the former president's political action committee, which is now his main political entity, contributed "millions" to pro-Trump organizations, including: $1 million to the Conservative Partnership Institute, where former White House chief of staff Mark Meadows is senior partner  $1 million to the America First Policy Institute, a research organization that employs numerous former Trump administration officials, including former Small Business Administration Administrator Linda McMahon, former senior counselor to the president Kellyanne Conway, and former acting Homeland Security Secretary Chad Wolf$204,857 to the Trump Hotel Collection$5 million to Event Strategies Inc., the company that ran the Jan. 6 rally on the EllipseKimberly Guilfoyle, who is engaged to Donald Trump Jr. and was a top fundraising official with the Trump campaign, also was paid a $60,000 speaking fee for introducing her fiancé at the Jan. 6 rally at the Ellipse, after which the former president's supporters marched down to the Capitol, Lofgren told CNN after Monday's hearing. Video from the rally shows Guilfoyle spoke for less than three minutes before handing the microphone over to Trump Jr., the former president's eldest son."The Trump campaign and its surrogates misled donors as to where their funds would go and what they would be used for, so not only was there the 'Big Lie,' there was the big ripoff," Lofgren said during the hearing. "Donors deserve to know where their funds are really going. They deserve better than what President Trump and his team did."Fundraising figures released by the Trump campaign are consistent with the committee's findings. In December 2020, the former president's election apparatus boasted that since the Nov. 3 election, the campaign, Republican National Committee, Trump Victory and Trump Make America Great Again joint committees, along with the Save America PAC, raised $207.5 million.Bill Stepien, Trump's campaign manager who was scheduled to testify Monday but could not appear because his wife went into labor, said in a statement at the time that the former president's supporters are "dedicated to fighting for the rightful, legal outcome of the 2020 general election."A filing with the Federal Election Commission covering late November 2020 to the end of the year found that the Save America PAC alone rang in 2021 with more than $31 million cash-on-hand. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

"The big ripoff": Jan. 6 committee lays out how false election claims fueled Trump fundraising.

Visitors check on a Ford Mustang Mach-E electric vehicle displayed at a launch event in Shanghai, China April 13, 2021. REUTERS/Yilei Sun/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON, June 14 (Reuters) - Ford Motor Co (F.N) said Tuesday it is recalling about 49,000 Mustang Mach-E electric vehicles in the United States because a part could overheat and result in a loss of propulsion power.The No. 2 U.S. automaker said DC fast charging and repeated wide-open pedal events can cause the high-voltage battery main contactors to overheat. Ford said it will address the issue that covers Mach-E vehicles built from late May 2020 through late May 2022 with a software update it expects to begin next month.Dealers cannot deliver new vehicles to customers until the vehicles have the software update.Ford said "overheating may lead to arcing and deformation of the electrical contact surfaces, which can result in a contactor that remains open or a contactor that welds closed." If an overheated contactor opens while driving, it could result in a loss of propulsion power, increasing the risk of a crash.Ford previously issued five recalls for various 2021 Mustang Mach-E vehicles, including calling back nearly 500 for a software issue that could cause unintended acceleration. Those recalls included loose bolts and inadequate windshield and panoramic roof glass bonding.Register now for FREE unlimited access to Reuters.comReporting by David Shepardson; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Ford recalls 49,000 U.S. Mach-E EVs over potential power loss.

Russia's President Vladimir Putin arrives for a joint news conference with Turkmenistan's President Serdar Berdymukhamedov in Moscow, Russia June 10, 2022. REUTERS/Maxim ShemetovRegister now for FREE unlimited access to Reuters.comWASHINGTON, June 14 (Reuters) - Russian President Vladimir Putin likely still wants to capture much if not all of Ukraine but has had to narrow his tactical objectives in war, Under Secretary of Defense for Policy Colin Kahl said on Tuesday."I still think he has designs on a significant portion of Ukraine, if not the whole country. That said, I do not think he can achieve those objectives," Kahl said, speaking at an event hosted by the Center for New American Security."They may make tactical gains here and there. The Ukrainians are holding up. I do not think the Russians have the capacity to achieve those grandiose objectives."Register now for FREE unlimited access to Reuters.comReporting by Phil Stewart; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Putin likely still wants much, if not all, of Ukraine, Pentagon official says.

Bollywood actor Shah Rukh Khan displays the Indian Premier League (IPL) cricket trophy during a news conference at his residence in Mumbai May 30, 2012. . REUTERS/Vivek PrakashRegister now for FREE unlimited access to Reuters.comSummaryCompaniesBroadcast deal for IPL fetches record $6.2 blnDisney loses digital streaming rights, retains TVReliance's Viacom18 bags digital rightsMUMBAI, June 14 (Reuters) - U.S. media behemoth Walt Disney and Indian conglomerate Reliance Industries were the major winners in a high-stakes bid to broadcast the IPL, the world's richest cricket league, for the next five years in deals fetching the organisers $6.2 billion.Disney-owned Star India (DIS.N) retained the television broadcast rights to the Indian Premier League for 235.75 billion Indian rupees ($3.02 billion), Jay Shah, a top cricket board official said on Tuesday, after a three-day online auction saw the league's broadcast value triple from the last one in 2017.At $3.02 billion, Disney will pay over a billion dollars more than its previous bid in 2017, which also included online streaming rights.Register now for FREE unlimited access to Reuters.comViacom18, a broadcasting joint venture run by Mukesh Ambani's Reliance Industries (RELI.NS), won digital streaming rights from 2023 to 2027, for 237.58 billion Indian rupees.The BCCI received a total of 483.9 billion Indian rupees from the media rights for the five-year period, BCCI secretary Shah said in a series of tweets."IPL is now the 2nd most valued sporting league in the world in terms of per match value," he tweeted.Disney's Hotstar Plus platform, which has so far streamed the IPL, is the market leader in India's crowded online streaming market, with more than 50 million paid subscribers, which analysts attribute mostly to its strong cricket content.There were four sets of bids that took place in the online auction, two of which went to Viacom18 and Disney.The BCCI did not specify which companies won the other two bids, which included a bespoke package that includes high-value matches as well as rights to broadcast in foreign territories.Launched in 2008, the IPL, counting top Indian industrialists and Bollywood stars such as Shah Rukh Khan among its franchise owners, is often seen as a surefire ticket to high TV ratings and growth in India's booming online streaming space.The glitzy T20 league attracts the world's best cricketers for two months of fast-paced matches played in front of packed stadiums.LONG-TERM VALUE"We made disciplined bids with a focus on long-term value. We chose not to proceed with the digital rights given the price required to secure that package," Rebecca Campbell, Chairman, International Content and Operations at Walt Disney, said in a statement on Tuesday.But analysts say the lack of cricket in its arsenal could hurt Disney's position as the market leader and arm Reliance with a potent weapon to capture the Indian streaming market in the next five years."The fact that digital rights value is higher than television showcases the scale and future potential of streaming in India," Mihir Shah, Vice President at consultants Media Partners Asia, said.For Mukesh Ambani's Reliance, which will stream the IPL for the first time, the deal plays into the company's larger plans for its telecom and tech arm Jio, which has 400 million broadband customers, Shah said.India's booming digital market, fuelled by cheap data, low-budget phones and a burgeoning middle-class who are hungry for content is a tempting prospect for conglomerates like Reliance."Digital media revenues are estimated to grow at a faster pace of 30%, whereas TV revenue is estimated to grow in a narrow band of 6-8% over the next five years," Karan Taurani, an analyst with research firm Elara capital, said.Others in the race included Sony Corp's India unit and local broadcaster Zee Entertainment, both of whom are in the middle of a proposed merger."We had to factor in the market's anticipated expansion and potential economic and other concerns over the next five years. Fiscal prudence, in my opinion, is critical for strategic management," N P Singh, Managing Director and CEO Sony Pictures Networks India, said in a statement.Bidding for the media rights began on Sunday.($1 = 77.9849 Indian rupees)Register now for FREE unlimited access to Reuters.comAdditional reporting by Dhruv Munjal in Bengaluru; Editing by Catherine Evans and Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

IPL broadcast deal fetches $6.2 bln; Disney, Viacom18 bag rights.

Politics June 14, 2022 / 1:25 PM / CBS News Washington — The House plans to vote Tuesday on a bill to bolster security for Supreme Court justices and their families, a move that took on added urgency after a California man allegedly armed with a knife and handgun was arrested last week outside the Maryland house of Justice Brett Kavanaugh and threatened to kill him.If the Democratic-led House passes the measure as expected, it will head to President Biden's desk for his signature. Sponsored by Sens. John Cornyn, a Republican of Texas, and Chris Coons, a Democrat from Delaware, the bill cleared the upper chamber last month.The proposal, called the Supreme Court Police Parity Act, grants the marshal of the Supreme Court and Supreme Court police the authority to protect the justices' family members or any officer of the court if protection is deemed necessary. White House press secretary Karine Jean-Pierre told reporters Monday that Mr. Biden supports legislation to fund increased security for the Supreme Court and its members, and said the administration takes "very seriously" threats and intimidation against judges.The Senate passed the bill more than a month ago, and Republicans implored House Speaker Nancy Pelosi not to wait any longer before bringing the measure to the House floor for a vote in the wake of the incident outside Kavanaugh's house last week. House Democrats sought to expand the measure to add protections for Supreme Court clerks, staff and their families. But Cornyn said the plan to amend the legislation made a "mockery" of his and Coons' efforts, and accused House Democratic leaders of mounting a "transparent attempt to stall the legislation.""The line between legitimate public discourse and acts of violence has been crossed, and House Democrats cannot continue to turn a blind eye," he said. "We don't have time to spare when it comes to protecting the members of the court and their families."But House Majority Leader Steny Hoyer accused Cornyn and Senate Minority Leader McConnell of acting "either with ignorance of the facts or ignoring the facts" by rejecting changes sought by the House. "Employees are in there because they are associated with various justices and their families are obviously associated with them," he said Tuesday, citing online threats directed at court employees. "It is what it is and we're going to move the bill." Police detained 26-year-old Nicholas John Roske early in the morning after he called local law enforcement and said he had come from California to kill a "specific United States Supreme Court justice," according to a FBI affidavit filed in federal court. The Supreme Court confirmed the threat was directed at Kavanaugh, and a man was taken into custody near the justice's house in Montgomery County, Maryland.The call to the Montgomery County Emergency Communications Center came after U.S. deputy marshals reported seeing a person dressed in black clothing and carrying a backpack and suitcase emerge from a taxi stopped in front of Kavanaugh's house.After Roske was arrested, police found in his belongings a black tactical chest rig and tactical knife, a Glock 17 pistol with two magazines and ammunition, pepper spray, zip ties, and numerous tools, as well as hiking boots with padding on the outside of the soles and other items, the affidavit states.He allegedly told police he was upset about the draft Supreme Court opinion to overturn Roe v. Wade, the 1973 decision that legalized abortion nationwide, and the recent school shooting in Uvalde Texas. He allegedly said he believed Kavanaugh would rule in favor of gun rights.Roske was charged with attempting to murder a Supreme Court justice.In addition to the arrest and threats directed at Kavanaugh, demonstrators have also gathered outside the homes of several other justices, including Chief Justice John Roberts and Justice Amy Coney Barrett, to protest a rolling back of abortion rights and the draft decision leaked and published last month.Following the release of the draft, the Supreme Court police reported a "significant increase in violent threats," including threats made on social media and directed at members of the court, according to an intelligence bulletin from the Department of Homeland Security. Attorney General Merrick Garland also directed the U.S. Marshals Service to provide additional support to the marshal of the Supreme Court to ensure the safety of the justices amid the public backlash. Rebecca Kaplan contributed reporting.

House to vote on Supreme Court security bill after arrest near Kavanaugh's home.

If you're thinking that every 20-something you know on Instagram is splurging on transatlantic vacations these days, you might be right.That's according to a recently published survey from financial services company Fidelity, which polled 2,622 adults in mid-February on their retirement planning habits. The survey found that 55% of 18- to 35-year-olds have halted their retirement planning since Covid hit, and 45% of that age group "don't see a point in saving until things return to normal.""In the last two years, some people had more cash because they weren't going out, they weren't going on vacation," Rita Assaf, Fidelity's vice president of retirement products, tells CNBC Make It. "But especially with the market being choppy and [high] inflation, I think this group is just thinking, 'Why should I build up a retirement plan right now?'"The trend is partially due to a high cost of living for young people in America right now: student debt, rising housing demand and 8.6% inflation weigh on people's minds and wallets, Assaf says.For instance, if you don't want to put money into an unpredictable market, you might want to wait until the market stabilizes – even if billionaires like like Warren Buffett and Elon Musk recommend against that practice. And if you're concerned about inflation outpacing your savings rates, you might be more inclined to spend.In February, a Bankrate survey observed that 54% of younger millennials and 46% of Gen Z respondents said their emergency savings had declined since 2020. The survey also revealed that millennials were more likely than other generations to have higher credit card debts than savings balances.The Fidelity survey notes that the decision to halt saving is likely a temporary one: 39% of those 18- to 35-year-olds expect to retire later than they did pre-Covid, related to their decisions to delay their saving plans by a couple of years.In other words, at least some young people now plan to work extra years at the end of their careers, to pay off the financial pain they're incurring during the pandemic. "This generation is way more aware than previous generations were at their age," Assaf says. "Younger investors are seeing the lessons learned from those prior generations, and want to be more in charge [of their money]."Assaf credits financial literacy tips on social media, along with earlier exposure to workplace retirement plans, to the "more active approach" to financial wellness that today's young people – especially young women – are taking. She also notes that the survey results show a "general sense of optimism" – if not for now, then for the future."Of our general population, 65% said 2022 was the year they put the pandemic behind them ... That number rose to 74% when we just looked at the younger generation," Assaf says. "It makes sense: They have a longer time horizon, and they're thinking, 'I have the pandemic behind me, and I'm ready to focus on the future.'"Sign up now: Get smarter about your money and career with our weekly newsletterDon't miss:Millennials and Gen Zers do want to buy homes—they just can’t afford it, even as adultsMillennials are known as avocado toast-loving, latte-swilling spendthrifts—here’s the reality

55% of millennials, Gen Zers aren't prioritizing saving—and that may actually be smart, expert says.

Register now for FREE unlimited access to Reuters.comSummaryPhoto essay:PENUELAS, Chile, June 13 (Reuters) - The Penuelas reservoir in central Chile was until twenty years ago the main source of water for the city of Valparaiso, holding enough water for 38,000 Olympic-size swimming pools. Water for only two pools now remains.A huge expanse of dried and cracked earth that was once the lake bed is littered with fish skeletons and desperate animals searching for water.Amid an historic 13-year drought, rainfall levels have slumped in this South American nation that hugs the continent's Pacific coast. Higher air temperatures have meant snow in the Andes, once a key store of meltwater for spring and summer, is not compacting, melts faster, or turns straight to vapor.Register now for FREE unlimited access to Reuters.comThe drought has hit mine output in the world's largest copper producer, stoked tensions over water use for lithium and farming, and led capital Santiago to make unprecedented plans for potential water rationing."We have to beg God to send us water," said Amanda Carrasco, a 54-year-old who lives near the Penuelas reservoir and recalls line fishing in the waters for local pejerrey fish. "I've never seen it like this. There's been less water before, but not like now."The reservoir needs rainfall - once reliable in winter but now at historic lows, said Jose Luis Murillo, general manager of ESVAL, the company that supplies Valparaiso with water."Basically what we have is just a puddle," he said, adding that the city now relied on rivers. "This is especially significant if you think that several decades ago the Penuelas reservoir was the only source of water for all greater Valparaiso."Behind the issue, academic studies have found, is a global shift in climate patterns sharpening natural weather cycles.Normally, low-pressure storms from the Pacific unload precipitation over Chile in winter, recharging aquifers and packing the Andes mountains with snow.But naturally occurring warming of the sea off Chile's coast, which blocks storms from arriving, has been intensified by rising global sea temperature, according to a global study on sea temperature and rainfall deficits. Ozone depletion and greenhouse gasses in the Antarctic, meanwhile, exacerbate weather patterns that draw storms away from Chile, according to a study on variables affecting Antarctic weather.'WATER TOWERS'Analysis of tree rings going back 400 years shows how rare the current drought is, said Duncan Christie, a researcher at the Center for Climate and Resilience in Chile. It is totally unrivalled for duration or intensity.A dead fish lies on the dried-up Penuelas lake in Valparaiso, Chile April 19, 2022. REUTERS/Ivan AlvaradoHe said that meant the Andes - which he called the country's "water towers" - were not getting a chance to replenish, which in turn meant that as snow melted in spring there was far less water to fill rivers, reservoirs and aquifers.Miguel Lagos, a civil engineer and water specialist, traveled to measure snow cover near the Laguna Negra station in central Chile some 50 kilometers (31 miles) east of Santiago - part of a process to estimate summer water supply."There was just nothing," he told Reuters. "There were so few precipitation events and such warm conditions that the snow melted that same winter."As snow compacts, creating new layers, this helps keep it colder for longer. But with warmer weather and less snowfall, Lagos said, top layers of snow were melting faster or turning straight to vapor, a process called sublimation.A 2019 study in the International Journal of Climatology that analyzed Chile's drought from 2010 to 2018 said shifting weather events could ease the drought in future, but much would depend on the trajectory of human emissions impacting climate.Segundo Aballay, an animal breeder in the Chilean village of Montenegro, is praying change comes soon."If it doesn't rain this year we will be left with nothing to do," he said. "The animals are getting weaker and dying day by day."Unfortunately for agriculture workers like Aballay, researchers at the University of Chile predict the country will have 30% less water over the next 30 years, based on mathematical models and historic data."What we call a drought today will become normal," Lagos said.In the Laguna de Aculeo, another dried up lake south of Santiago, local campsite manager Francisco Martinez recalled hundreds of people coming to the area to take out kayaks or swim in the waters.Now rusting piers and old boats sit in the barren landscape. An eerie island in the middle of what was once water rises up above the dust."Now there is no water, it is a desert here," Martinez told Reuters. "The animals are dying and there is nothing to do here in the lagoon any more."Register now for FREE unlimited access to Reuters.comReporting by Alexander Villegas; Additional reporting by Rodrigo Gutierrez; Editing by Adam Jourdan and Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

'We beg God for water': Chilean lake turns to desert, sounding climate change alarm.

Harold Hamm of Continental Resources is pictured during a rig tour in the state of Oklahoma, U.S. October 12, 2010. Courtesy of Continental Resources/Handout via REUTERS/File PhotoRegister now for FREE unlimited access to Reuters.comJune 14 (Reuters) - Continental Resources Inc (CLR.N) said on Tuesday it received an all-cash offer from billionaire-founder Harold Hamm's family trust, a deal which could take the U.S. shale producer private at a valuation of $25.41 billion.If both sides reach an agreement, it would result in the most significant deal in the U.S. shale sector since the surge in oil and natural gas prices this year caused by tightened supply, as the world emerges from the coronavirus pandemic and the dislocation of energy markets caused by Russia's invasion of Ukraine.Hamm, a legendary oilman who once called the Organization of the Petroleum Exporting Countries a "toothless tiger", is offering $70 per share to those holding the approximately 17% of the company that his family does not already own.Register now for FREE unlimited access to Reuters.comThe offer represents a nearly 9% premium over Continental's closing price on Monday, but is below the level the producer was trading at as recently as last Thursday.Continental's shares jumped as much as 17% to $75.49 to their highest level since September 2014, and while they came off a touch by early-afternoon the stock was still trading at a level indicating investors believe a higher offer could be forthcoming.Smead Capital Management, the largest shareholder after the Hamm family with around 2% of Continental, said in a statement it believed the offer price "undervalues" the shale producer."At $110 oil, it’s worth $110 (per share) or more. At $120 (oil), it begins to look like stealing," said Cole Smead, president and portfolio manager at Smead Capital. U.S. crude futures were trading at $120.66 per barrel on Tuesday.Continental said the proposal was an indication of interest from the Hamm family trust, and it had not yet fully evaluated the offer. In a letter to the board disclosed in the same filing, Hamm's family trust said the deal will be structured as a tender offer and that there were no financing issues.Andrew Byrne, executive director of company research at S&P Global Commodity Insights, said it was uncertain whether minority owners would be given an option to roll their stake into the private company, instead of taking cash.FREEDOMHamm founded Continental as Shelly Dean Oil Company in 1967, and ran it as a private company until 2007.In a letter to employees detailing his go-private offer, Hamm lamented the public markets have not supported the oil and gas industry and limited its growth, especially since the pandemic."We have determined that the opportunity today is with private companies who have the freedom to operate and are not limited by public markets," Hamm said in the letter.Both U.S. crude and natural gas prices this year have hit their highest levels since 2008. The high prices have been a boon to the shale industry, and Continental has used this backdrop to expand its operations.In December, it entered the Permian Basin for the first time, buying acreage from Pioneer Natural Resources (PXD.N). Meanwhile, it bought land in March from Chesapeake Energy (CHK.O) to bolster its footprint in the Powder River Basin.Continental said it would form a special committee of independent directors and hire advisors to consider Hamm's proposal.If the proposal is rejected, the Hamm family will continue as long-term shareholders and would not push for any strategic options, according to Hamm's offer letter.Hamm's family trust is being advised by Intrepid Partners and Vinson & Elkins LLP.Register now for FREE unlimited access to Reuters.comReporting by Arunima Kumar and Shariq Khan in Bengaluru and David French in New York; Editing by Arun Koyyur and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Founder Harold Hamm offers to take Continental private at $25-bln value.

The Bank of England (BoE) building is reflected in a sign, London, Britain, December 16, 2021. REUTERS/Toby MelvilleRegister now for FREE unlimited access to Reuters.comLONDON, June 14 (Reuters) - With Britain's currency sinking and the U.S. Federal Reserve poised to raise borrowing costs aggressively, Bank of England policymakers may suddenly feel pressured to announce an outsized interest rate hike of their own this week.Even though Britain's economy shrank unexpectedly in April and there were some signs of inflationary forces in the labour market ebbing, the pound's slide and the increasingly hawkish stance of other central banks put the BoE in a tough spot.All but one of the 56 economists polled by Reuters last week expected the BoE to raise Bank Rate on Thursday to 1.25% from 1.0%, but many warn a rise to 1.5% could be a close call.Register now for FREE unlimited access to Reuters.comFinancial markets point to a roughly 43% chance of a 50 bps hike.Recent events arguably show why.Sterling on Tuesday slid below $1.21, its lowest since May 2020 – a headache for members of the Monetary Policy Committee who know that a weak currency will exacerbate inflation in the months ahead, with Britain reliant on energy imports.The pound has fallen 4.5% against the dollar since late May, when finance minister Rishi Sunak announced further help for households facing a hefty cost-of-living hit - a package that economists had thought might shore up confidence in Britain's economic outlook, and with it the currency.The boost to sterling did not last long, however, as U.S. inflation accelerated more than expected, intensifying bets on Fed rate hikes.Last week, the European Central Bank flagged rate hikes at its next two meetings, including a possible half percentage-point rise in September.The BoE's trade-weighted sterling index , which measures the pound against a basket of currencies, fell on Monday to its lowest since January last year.Trade-weighted sterling slides to lowest since January 2021HAWKISH CENTRAL BANKSBrexit tensions - namely the escalating row over Northern Ireland's status that threatens to upend British trade ties with the European Union - have also hurt the pound.Worse yet could follow if, as financial markets increasingly expect, the Fed on Wednesday raises its main interest rate by 75 basis points, which would be its biggest increase since 1994, further boosting the dollar at sterling's expense. read more The central banks of India and Australia have already raised rates by 50 basis points, the latter coming as a hawkish surprise to investors. read more "If the Bank starts to lag behind, then that would probably increase the downward pressure on the pound," said Paul Dales, chief UK economist at Capital Economics."That would actually influence the Bank of England's projections for its inflation target in three to four years time, which is what it's aiming for," he added.Dales was the only economist in the Reuters poll to forecast a 50 basis-point increase in Bank Rate.Previous BoE research has suggested a 10% fall in sterling would raise the level of the consumer price index by about 2.7 percentage points, over a period of three to four years.REASONS NOT TO HIKEBut some economists say the BoE should resist pressure to join other central banks in a rush to raise rates, given Britain looks more prone to recession than many of its peers.The OECD sees zero British growth next year - the weakest of any G20 economy apart from Russia - and the British Chamber of Commerce expects the economy to shrink 0.2% in the final quarter of 2022 before growing just 0.6% in 2023 and 1.2% in 2024."What you wouldn't want to see is the MPC losing its independence of thought and joining a big cohort of central banks in a stampede to tighten aggressively," said Philip Shaw, chief economist at Investec.A 50 basis-point hike - which would be the first in Britain since February 1995 - would represent a presentational challenge for the BoE. Its chief economist Huw Pill has stressed the virtues of a "steady-handed", gradual approach to raising rates.The BoE was the first of the world's major central banks to raise rates in December last year and another hike on Thursday would be the fifth time in five policy meetings that it had increased borrowing costs, its steepest pace in 25 years.Also there remains a question over whether five or more of the nine MPC members would plump for such a big rate hike.In May, only three external members - Jonathan Haskel, Michael Saunders and Catherine Mann - voted for a 50 basis-points hike.Even if they were joined on Thursday by Deputy Governor Dave Ramsden, who has previously sat on the hawkish end of the MPC, they would still need at least one more of the other members - none of whom have publicly expressed an appetite for moving in bigger steps.Economists from Bank of America on Tuesday said their base case was for a 6-3 split in favour of a 25 basis-point hike."We see risks skewed to a 5-4 vote and look for more hawkish guidance," they added.All BoE watchers are agreed, however, that the swirl of downbeat data, febrile financial markets and political pressure make predicting policy especially tricky."It's quite easy for me to come out and say, 'go on, do this' but they have to make a decision that really makes a difference," Dales from Capital Economics said. "They have my sympathy."Register now for FREE unlimited access to Reuters.comReporting by Andy Bruce; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

Analysis: Weak pound and forceful Fed pressure Bank of England to act big.

U.S. President Joe Biden speaks to the media before boarding Air Force One at Joint Base Andrews in Maryland, U.S., June 14, 2022. REUTERS/Evelyn HocksteinRegister now for FREE unlimited access to Reuters.comWASHINGTON, June 14 (Reuters) - U.S. President Joe Biden will meet Saudi Crown Prince Mohammed bin Salman during a trip to the Middle East in July, in a break with his campaign pledge of making the kingdom a "pariah" as he struggles to combat record high U.S. gasoline prices.Weeks after taking office, Biden shifted U.S. policy on Saudi Arabia, adopting a tougher stance over the kingdom's human rights record and in particular the killing and dismembering of Washington Post journalist Jamal Khashoggi in Turkey in 2018. U.S. intelligence implicated the prince in the murder. The Saudi government has denied any involvement by him.Biden's predecessor Donald Trump had a close relationship with the prince, the defacto ruler of the country. But while a presidential candidate in 2019, Biden vowed to make Saudi Arabia "pay the price, and make them, in fact, the pariah that they are" over the killing of Khashoggi. The White House has said, as recently as this month, that Biden's view has not changed.Register now for FREE unlimited access to Reuters.comThe talks with the crown prince - part of Biden's first trip to the region - are seen by rights advocates as at odds with his promise to put human rights at the heart of U.S. foreign policy. Biden's trip from July 13 to July 16 will also include a stop in Israel and the occupied West Bank.A senior U.S. official, speaking on condition of anonymity, said that if Biden "determines it's in his interest to engage with any particular leader, and if such an engagement can deliver results, then he will do so."The official pointed to the crown prince's role in helping secure an extension of a U.N.-brokered truce between Yemen's warring parties as an example of what he said was a need to engage with Saudi Arabia as way to help bring peace and security to the region.Biden's July 15-16 visit to the kingdom comes after the OPEC+ group of oil-producing nations, led by Saudi Arabia, agreed to boost oil production to offset Russian losses - following Western sanctions on Moscow over its invasion of Ukraine - and combat surging oil prices and inflation. read more GULF SUMMITWashington's desire to improve ties with Gulf monarchies has become more urgent following Russia's Feb. 24 invasion of Ukraine, which highlighted the relevance of Gulf oil producers as Europe looks to cut its energy dependence on Russia.The United States is also trying to further isolate Russia over the Ukraine war, urging Gulf states to publicly condemn Moscow, three Western diplomats said. Gulf states have so far tried to maintain what they say is a neutral position, but some Western diplomats view that as siding with Moscow.Biden will meet with regional leaders including Iraq, Egypt and Jordan in Saudi Arabia as part of a summit of the Gulf Cooperation Council, the White House said. Washington has proposed an agenda that includes regional security, food security, the Israeli-Palestinian conflict and energy issues, a Gulf source familiar with the matter said.In Israel July 13-14, Biden will emphasize the U.S. commitment to the country, which includes billions of dollars in military support. He will hold a virtual summit with the leaders of Israel, India, and the United Arab Emirates.Biden will also travel to the West Bank to meet with Palestinian President Mahmoud Abbas and other leaders to reaffirm his commitment to a two-state solution between the Israelis and the Palestinians, the U.S. official said.The visit will help "integrate Israel into the Middle East," the Israeli prime minister's office said in a statement.Saudi Arabia has signaled its backing for the so-called Abraham Accords under which the United Arab Emirates and Bahrain forged relations with Israel two years ago. But Riyadh has stopped short of formally recognizing neighboring Israel.Register now for FREE unlimited access to Reuters.comReporting by Jarrett Renshaw; additional reporting by Jonathan Landay, Doina Chiacu, Susan Heavey and Alexander Cornwell; writing by Michelle Nichols and Humeyra Pamuk; editing by Jonathan Oatis and Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

Biden to meet with Saudi crown prince despite 'pariah' pledge.

Flags with the St. Petersburg International Economic Forum (SPIEF) logo fly near the St. Isaac's Cathedral in Saint Petersburg, Russia June 14, 2022. REUTERS/Maxim ShemetovRegister now for FREE unlimited access to Reuters.comSummaryCompaniesInternational economic forum June 15-18 in St PetersburgNo Western bigwigs at 'Russian Davos' due to sanctionsPutin won't meet top Western execs for first time in yearsJune 14 (Reuters) - Russia for years hosted world leaders and business titans at its annual economic forum in St Petersburg, but the "Russian Davos" will see little of the global financial elite this time around with Moscow isolated by sanctions over its actions in Ukraine.This week, to make up for the lack of attendees personifying Western economic might and stardust, Russia is giving pride of place to smaller players or countries like China - the world's second largest economy - that have not joined in sanctions."Foreign investors are not only from the United States and European Union," Kremlin spokesperson Dmitry Peskov told reporters on Tuesday, pointing to the Middle East and Asia.Register now for FREE unlimited access to Reuters.com"Such investors and entrepreneurs are interested and will take an active part in the forum."The Kremlin launched the St Petersburg International Economic Forum (SPIEF) in 1997 to attract foreign investment, discuss economic policy and project an image that it was open for business after the demise of Soviet communist rule.Russia long compared SPIEF with the World Economic Forum, the annual blue-ribbon event for global VIPs held in the Swiss Alpine resort of Davos to debate the world's problems.Now, with Western leaders shunning dealings with Russia, longtime President Vladimir Putin will have no traditional meeting with political movers and shakers and corporate bigwigs from the United States and Europe.There were no names of U.S. and European companies or their CEOs on the published schedule for the June 15-18 SPIEF - reflecting fears of punishment under the most sweeping sanctions regime ever imposed on a major power.Even companies that have hung on in Russia despite the general exodus of Western investors were not listed.In one exception to the absence of Western figures, the head of the American Chamber of Commerce in Russia along with French and Italian counterparts will speak at a session on Thursday called "Western Investors in Russia: New Reality."TOXIC RELATIONSRussia's relations with the West have turned toxic since it sent armoured forces into Ukraine on Feb. 24 in what it calls a "special military operation" to remove threats to its security. Ukraine and its Western backers call Russia's actions an unprovoked invasion aimed at grabbing territory.SPIEF will therefore look and feel very different this year.Having once rolled out the red carpet for the likes of then- German chancellor Angela Merkel, ex-IMF chief Christine Lagarde, Goldman Sachs' Lloyd Blankfein, Citi's Vikram Pandit and ExxonMobil's Rex Tillerson, Russia will give top billing this week to the presidents of allied states Kazakhstan and Armenia.As foreign companies write down billions of their once promising Russian investments, domestic firms and banks are rushing to take over businesses left behind. read more "Sanctions are for the long haul. Globalisation as it used to be has ended," Andrey Kostin, CEO of sanctioned bank VTB, Russia's second-largest, told RBC business daily. "The world will likely be strictly divided into 'us' and 'them' once again."'NEW OPPORTUNITIES IN A NEW WORLD'In past years, SPIEF'S sessions would focus on investment-oriented topics such as privatisation by Moscow, initial public offerings (IPOs) and education abroad for Russians.This year, SPIEF's official title is "New Opportunities in a New World". Session topics include new possibilities for Russian economic growth, improving trade with the five non-Western BRICS powers and the future of Russia's sanctioned financial sector.Another session - "A new form of international cooperation: how will payments be made?" - touches on Russia's ejection from the global SWIFT payment system and its move to circumvent the ban by demanding payments for gas exports in roubles. It will have speakers from Russian allies Cuba and Venezuela as well as Turkey and Egypt, which have also eschewed sanctions.There will even be a session on "fake news" - a panel attended by state media, the General Prosecutor's Office and the Foreign Ministry as Moscow pursues an information war with the West to shape perceptions of events in Ukraine."Everything has changed in the past half a year - from business-management schemes and investment priorities to the needs of people and problems that need to be solved," the summary of one SPIEF session read.Other countries sending officials to attend or speak there via videolink include China, Belarus, Central African Republic, India, Iran, Nicaragua, Serbia and the United Arab Emirates.According to Russian state TV, business figures from nearly 130 countries will take part despite sanctions.Some forum participants asked that their employers' names not be printed on their personal badges, RBC reported, citing Rosgoncress, the state company that organises the forum."Money loves silence now as never before," said Denis Denisov, head of the Russian branch of international advisory firm EM."People do not want to talk about their business under the spotlight of SPIEF or about anti-crisis measures they are taking because they fear personal sanctions...and the risk of direct and secondary sanctions against their businesses."($1 = 57.4500 roubles)Register now for FREE unlimited access to Reuters.comReporting by Reuters Editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

Sanctions-hit Kremlin to stage annual 'Russian Davos' bereft of financial elite.

World June 14, 2022 / 10:33 AM / CBS News An image from an animation created by the Netherlands-based SMIT marine salvage company for the United Nations depicts the FSO Safer, a supertanker full of crude oil currently decaying off Yemen's Red Sea coast. UN/SMIT/YouTube The United Nations has resorted to an online crowdfunding campaign to raise the money needed to avert what a senior U.S. official says would be a major "environmental, humanitarian and economic catastrophe." The U.N.'s lead coordinator for Yemen, David Gressly, launched an appeal for anyone and everyone to pitch in to start defusing what environmental activists call "a ticking time bomb" — a massive tanker full of crude oil slowly decaying off Yemen's coast. The SFO Safer, a 45-year-old supertanker moored just off Yemen's Red Sea port city of Hodeida, is thought to be loaded with more than 1 million barrels of crude. For more than three years environmental activists and officials have warned the badly corroded ship could start leaking its cargo into the sea — or even explode — with devastating consequences for the ecology, people and economies across the region.  A file photo shows the FSO Safer supertanker permanently anchored off Yemen's Red Sea coast, west of Hodeida.  HANDOUT The Yemeni government has said that if the tanker ruptures, it could create an oil spill four times larger than the 1989 Exxon Valdez disaster. The decaying ship was caught for years between the two sides that have torn Yemen apart in a vicious civil war. The vessel was often used as a bargaining chip in the crisis, which has pitted Yemen's internationally recognized, Saudi Arabian-backed government against a Iranian-backed uprising by ethnic Houthi muslims, who control a huge portion of the country. In late April, the U.N. managed to broker a ceasefire agreement between the Houthi rebels and Yemen's Saudi-backed government. — UN Yemen (@UNinYE) June 12, 2022 "Frankly speaking, the primary constraint we face is no longer really political, security, procurement or operational. It's resources," Gressly told an online briefing on Monday. Gressly and other officials have made it clear they want to use the opportunity presented by the ceasefire to carry out "an initial emergency operation just to get the oil out of the current Safer tanker into a secure vessel.""Every day that goes by is another day that we take a risk — a chance that this vessel will break up and the catastrophe that I described will unfold," he said. The FSO Safer supertanker, loaded with 1.1 million barrels of Yemeni crude oil, has gone largely unmaintained since Houthi rebels seized control of the vessel from the Yemeni state-run oil company in 2015. HANDOUT U.S. Special Envoy to Yemen Tim Lenderking told reporters last week that the world must "use this period of relative calm and confidence-building to get the ticking time bomb that is the Safer tanker, with its 1.1 million barrels of oil, offloaded onto a safer vessel so we can avert an economic, humanitarian, and environmental disaster in the Red Sea."The U.N. estimates that the initial stage of the operation will cost about $80 million, with an additional $64 million needed for the second stage. So far the global body has only about $44 million in hand, with a further $10 million each recently pledged by the U.S. and Saudi governments. The goal of the online crowdfunding effort is to cover another $5 million of the overall $20 million still needed to start phase-one.  Officials hope public support galvanized for the cause by the campaign will pressure nations, and big businesses that use the vital shipping lanes through the Red Sea, to stump up the rest.The U.N. released the animation below showing the full process it aims to carry out, to move the oil cargo from the FSO Safer to another tanker. Animation FSO Safer, Transfer of oil cargo by UN Yemen on YouTube "Every dollar that the public donates brings us closer to starting the emergency operation, and sends a message to the member states and private companies that have not yet contributed to act now before it is too late," Russell Geekie, the communications director for Gressly's office, told CBS News."We're running out of time," warned Gressly, adding that it was "extremely important to get this resource mobilization initiative underway."He and other officials hope to finish the offloading operation before winter sets in on the Red Sea, making conditions much harder to work in — and before the fragile Yemen ceasefire agreement has too much time to collapse. Mohammed Al-Hakimi, founder of the Yemeni environmental lobbying group Holm Akhdar (Green Dream), welcomed the U.N.'s plan to raise the rest of the funds needed. He told CBS News the "plan to rescue the Safer tanker focused on the technical operations of transferring the oil shipment from the dilapidated tanker to another ship, and on the procedures for starting the emergency maintenance of the tanker.""Despite its importance," however, Al-Hakimi urged the global community to also come up with a plan to support "local people who will be potentially affected by the disaster" if it isn't carried out in time,"namely the fishermen, whose number is estimated at more than 126,000, as well as more than 186,000 farmers, and about 90,000 beekeepers and others." In: Oil Spill War FSO Safer Iran saudi arabia Yemen Pollution oil and gas Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

U.N. crowdfunding to avert "environmental, humanitarian and economic catastrophe" as oil tanker rots off Yemen.

Muslims listen to a speaker during a protest demanding the arrest of Bharatiya Janata Party (BJP) member Nupur Sharma for her comments on Prophet Mohammed, in Kolkata, India, June 14, 2022. REUTERS/Rupak De ChowdhuriRegister now for FREE unlimited access to Reuters.comKOLKATA, India, June 14 (Reuters) - Thousands of Muslims marched in the eastern Indian city of Kolkata on Tuesday in a second week of protests, while six prominent former judges said a state government had acted illegally by demolishing the house of a Muslim activist.Muslims have taken to the streets across India to protest against anti-Islamic comments made by two members of Prime Minister Narendra Modi's Hindu nationalist Bharatiya Janata Party (BJP).Clashes have broken out between Muslims and Hindus and between protesters and police in several areas, with at least 400 people arrested.Register now for FREE unlimited access to Reuters.comIn the northern state of Uttar Pradesh (UP), chief minister Yogi Adityanath, a BJP hardliner, ordered the weekend demolition of any illegal buildings of people accused of involvement in riots last week, including the home of activist Mohammad Javed.In a letter addressed to the chief justice, six former judges and six senior lawyers on Tuesday condemned the state's action in destroying Javed's house on Sunday.The former judges and lawyers urged the Supreme Court to take action to "arrest the deteriorating law and order situation" in Uttar Pradesh."The coordinated manner in which the police and development authorities have acted lead to the clear conclusion that demolitions are a form of collective extra-judicial punishment, attributable to a state policy which is illegal," they wrote.Local officials said the demolition was justified as parts of the house had been illegally constructed and that Javed had not appeared for hearings on the issue in May.UP police have said Javed was also involved in riots sparked during one of the recent protests.K.K. Roy, Javed's lawyer, said the family only received a copy of the notice late on Friday, two days before the demolition, and that the building was owned by Javed's wife and not him.The protests that have spread to several northern and eastern cities were triggered by derogatory comments about the Prophet Mohammad made by two BJP officials in May and June.The party suspended a spokeswoman and expelled the other official over the comments, and said it condemned any insult towards any religion.But critics say religious polarisation has deepened in India since Modi came to power in 2014. Modi has so far not commented on this issue.Countries including Qatar, Saudi Arabia, the United Arab Emirates, Oman and Iran - all important trade partners for India - lodged diplomatic protests against the anti-Islam remarks.Register now for FREE unlimited access to Reuters.comAdditional reporting by Suchitra Mohanty in New Delhi, Saurabh Sharma in Lucknow; Writing by Rupam Jain; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

Protests by Indian Muslims continue, as lawyers condemn state response.

Rep. Barry Loudermilk, R-Ga. leaves the House Republican leadership election in Longworth Building on November 14, 2018.Tom Williams | Cq-roll Call, Inc. | Getty ImagesThe Capitol Police chief in a new letter said that a group tour of the Capitol complex led by GOP Rep. Barry Loudermilk of Georgia a day before the January 6, 2021, riot by a mob of Trump supporters was not suspicious, and at no point entered the Capitol itself.The letter Monday by Police Chief J. Thomas Manger came nearly a month after the House select committee investigating the riot asked Loudermilk about the tour he gave.The committee is probing questions of whether Republican members of Congress facilitated tours of the Capitol complex that allowed tour members to conduct surveillance in advance of the riot."We train our officers on being alert for people conducting surveillance or reconnaissance, and we do not consider any of the activities we observed as suspicious," Manger wrote in his letter to Rep. Rodney Davis, an Illinois Republican who is the ranking member of the Committee on House Administration.Davis last week asked the Capitol Police Board to review surveillance footage from Jan. 5, 2021, related to the tour by Loudermilk, who is a member of the administration committee.Manger, citing that surveillance video, confirmed Loudermilk's statement that he never entered the Capitol building itself with a group of constituents, which was initially comprised of a dozen people but which eventually grew to 15, according to Manger's letter.Instead, the group appeared to have spent all of their time in or around three large buildings housing offices of House lawmakers, which are part of the Capitol complex and have a system of underground tunnels that access the U.S. Capitol building. About five minutes of that time was spent at a series of exhibits in the Cannon House Office Building.Manger wrote that Loudermilk never took his constituents "in any tunnels that would have led them to the U.S. Capitol."Loudermilk, in a tweet containing a copy of Manger's letter, wrote, "The truth will always prevail.""As I've said since the Jan. 6 Committee made their baseless accusation about me to the media, I never gave a tour of the Capitol on Jan 5, 2021," he wrote, "and a small group visiting their congressman is in no way a suspicious activity. Now the Capitol Police have confirmed this fact."Loudermilk, who during then-President Donald Trump's first impeachment in 2019 compared that proceeding to the crucifixion of Jesus Christ, was among a minority of House members who voted to reject certification of the Electoral College votes for President Joe Biden from Arizona and Pennsylvania on Jan. 6, 2021.That proceeding was disrupted for hours by supporters of Trump, who for weeks beforehand had falsely claimed that he had won the 2020 election and that Biden's official victory was the result of widespread ballot fraud.The Capitol includes the two chambers of Congress — the Senate and House of Representatives — and the rotunda, whose distinctive dome has come to symbolize Washington, D.C.The rotunda, the Senate and surrounding hallways in the Capitol were breached by rioters on Jan. 6 disrupting for hours a joint session of Congress that was in the process of confirming Biden's election.The House was not breached, as it was barricaded and guarded by armed police, one of whom fatally shot a rioter who had tried to clamber through the window of a door in the Speaker's Lobby, which leads into the House chamber.Rep. Davis, in a statement Tuesday about Manger's letter, called his findings "a blow to the partisan 1/6 Select Committee's credibility.""This comes following false accusations from House Democrats and the 1/6 Select Committee that Republicans, including Committee Member Barry Loudermilk, gave reconnaissance tours," Davis said.However, the select committee had not said that Loudermilk gave a reconnaissance tour.Instead, the Jan. 6 panel said in its May 19 letter to Loudermilk that "public reporting and witness accounts indicate some individuals and groups engaged in efforts to gather information about the layout of the U.S. Capitol, as well as the House and Senate office buildings, in advance of" the riot.The committee in that same letter noted that Republicans on the Committee on House Administration, which Loudermilk sits on, claimed to have reviewed security video footage of the days leading up to the riot and found "there were no tours, no large groups, no one with [Make America Great Again] hats on.""However, the Select Committee's review of evidence directly contradicts that denial," said the letter from the panel's chairman, Rep. Bennie Thompson, D-Miss., and its vice chair, Rep. Liz Cheney, R-Wyo.Loudermilk's spokesman Brandon Cockerham said in an email to CNBC that the Jan. 6 committee "has been intentionally vague" in their query to the congressman, "but they chose their words very carefully because they knew they did not have a shred of evidence Rep. Loudermilk was in the U.S. Capitol building with constituents on Jan. 5 because it never happened."

Capitol Police says Rep. Loudermilk's tour day before Trump riot wasn't suspicious.

2016 Rio Olympics - Basketball - Preliminary - Women's Preliminary Round Group B USA v Serbia - Youth Arena - Rio de Janeiro, Brazil - 10/08/2016 Brittney Griner (USA) of USA competes. REUTERS/Sergio Moraes Register now for FREE unlimited access to Reuters.comWASHINGTON, June 14 (Reuters) - The U.S. State Department became aware, through media reports, of Russia's extension of the pre-trial detention of American basketball player Brittney Griner, department spokesperson Ned Price said on Tuesday, while repeating calls for her release.Price made the comments at a regular press briefing. Russia's TASS news agency reported that Griner's detention had been extended to July 2 at the request of investigators.Register now for FREE unlimited access to Reuters.comReporting by Daphne Psaledakis and Humeyra Pamuk; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

U.S. State Dept became aware of extension of Griner's detention through media.