In Peru, investigations into the killing of protesters by security forces are often closed without any charges, leaving families of victims without justice and undermining people’s faith in their government. Antonia Huillca, a 51-year-old Quechua farmer, is one of many who have been left without answers after her husband was shot and killed during a protest in 2016. José Cárdenas, whose younger brother was killed in 2015 in clashes with the police, said “My brother didn’t die in an accident. He was shot.” Yet, over the past two decades, prosecutors have not won a single conviction against police or military officers or their superiors for killings at protests. A lack of accountability for excessive use of force by security agencies is a serious human rights failure, according to civil rights organizations. President Dina Boluarte has blamed the deadly clashes on protesters who have blocked roads and attacked security forces with rocks and slingshots. It is time for Peru to take action and ensure that justice is served for the victims of police brutality.
Author: fortraders
The Battle for Bakhmut Is Over. What’s Next for Russia?
After 10 months of brutal fighting, Russian forces have seized the eastern Ukrainian city of Bakhmut. But what comes next for Russia is unclear. Analysts say Moscow’s exhausted forces will settle into a defensive crouch, preparing for Ukraine’s counteroffensive. Both sides have suffered thousands of casualties and expended significant resources in the battle for the city. Ukraine is now training new formations, armed and equipped by the West, and is expected to launch a broader counteroffensive. Russia has dug an intricate network of primary and secondary trench lines and minefields to thwart any Ukrainian advance. Ukraine has also made small gains to the north and south of Bakhmut, putting their forces in a better position to prevent Russian troops from advancing further. The aftershocks of the battle for Bakhmut are not yet fully known, both in terms of overall casualties on both sides or how much equipment or ammunition was lost or destroyed. The fight for Bakhmut has since claimed thousands more casualties.
Examining the Decrease in Micron Chip Purchases by China Prior to the Ban
BEIJING (Reuters) – China has been scaling back its purchases of Micron Technology (NASDAQ:MU) chips for years, opting instead for domestic or South Korean options, documents showed. This week, China declared Micron’s products a national security risk and blocked key industries from using them.
The Reuters review of over a hundred public government tenders found that while previously Chinese government authorities regularly put out purchase requests for Micron’s chips, such requests dried up dramatically from 2020. Instead, the bulk of memory chip purchases from such entities have gone to domestic firms including Huawei Technologies, server maker Inspur as well as surveillance giants Uniview and Hikvision.
Analysts say the biggest U.S. memory chip maker had become an easier target if Beijing wanted to retaliate against Washington’s curbs on tech exports, given China’s own advances in memory chip production.
China’s cyberspace regulator, which conducted the review of Micron’s products, did not specify what security risks they found. In response to Reuters’ request for comment, a Micron spokesperson said the company was “assessing next steps” in response to the ban.
China has for over a decade had a long-running campaign to reduce reliance on foreign technologies, asking state affiliated firms such as banks to switch to local software and promoting domestic chip manufacturing. This week’s ban appears to be the result of heightened Sino-U.S. tensions, but the tender documents suggest Beijing had laid the groundwork for years.
On Monday, Micron forecast a percentage hit to revenue from China’s action in the single digits.
European Court of Justice Upholds EU Antitrust Requests for Information in Response to Meta’s Appeal
Meta Platforms Inc suffered a setback on Wednesday after the European Court of General ruled that the European Commission’s requests for information related to its investigation into Facebook’s data and online marketplace were legitimate. The Commission had sought information from Meta, prompting the company to compare the competition enforcer to a fishing super trawler vacuuming up data.
The court found that Meta had not successfully demonstrated that the request for documents went beyond what was necessary or that establishing a virtual data room failed to protect sensitive personal data. Meta said it had handed over more than a million documents since 2019, even as it questioned the necessity and proportionality of the data requests.
Meta can appeal on points of law to the EU Court of Justice, Europe’s highest. The cases are T-451/20 Meta Platforms Ireland v Commission & T-452/20 Meta Platforms Ireland v Commission.
Decline of Stocks Due to U.S. Debt Ceiling and Inflation Concerns
Stocks around the world tumbled on Wednesday as U.S. debt ceiling negotiations dragged on without resolution. The New Zealand dollar dropped after the central bank caught markets off-guard by flagging that its tightening cycle is over. Europe’s benchmark STOXX index fell 1.3% to a 3-week low in early trading, while MSCI’s broadest index of Asia-Pacific shares fell 0.7%. Crude oil prices kept rising, however, after a warning from the Saudi energy minister to speculators that raised the prospect of further OPEC+ output cuts.
Treasury Secretary Janet Yellen has warned that the federal government could no longer have enough money to pay all its bills as soon as June 1, raising the risk of a damaging default. Reports that Treasury has asked federal agencies whether they can delay upcoming payments added to the sense of crisis.
In Europe, British inflation data came in stronger than expected, a reminder to investors that the global fight against price rises is far from over. Germany’s 10-year bond yield, the benchmark for the euro zone, climbed to a one-month high of 2.501% before paring its rise slightly.
Gold traded in a narrow range around$1,977 as traders eyed debt ceiling talks and the possibility of further central bank hikes. Crude oil price extended gains from Tuesday, when Saudi Energy Minister Prince Abdulaziz bin Salman warned speculators to “watch out,” saying “they will be ouching.” Brent crude futures rose 58 cents to $77.42 a barrel, while U.S. West Texas Intermediate crude (WTI) gained 70 cents to $73.62 a barrel.
Panasonic Highlights China as a High-Priority Market Despite Supply Chain Risks
Panasonic has been in China for more than 40 years and has invested heavily in the country, including in the automotive and home appliance sectors. The company has also been expanding its presence in other markets, such as India and Southeast Asia, to diversify its supply chain.
Kusumi said Panasonic is committed to developing a “robust and resilient” supply chain that can withstand any geopolitical risks. He added that the company is also looking to expand its presence in the U.S. and Europe.
April U.K. Inflation Rate Drops Below Expectations to 8.7%
The UK’s inflation rate fell less than expected in April, with the closely watched core rate unexpectedly rising. According to data from the Office for National Statistics, consumer prices increased 8.7% compared to the same month a year earlier, down from March’s 10.1% on-year rise. Economists had expected inflation to decline to 8.2%. Core consumer prices, which excludes the volatile categories of food and energy, was 6.8%, compared with 6.2% in the prior month, and well above expectations of 6.1%. This indicates that the Bank of England may need to raise interest rates again to halt persistently high prices.
Lenovo Sees Profitability Decline Amid Weak PC Sales
Lenovo Group, the world’s largest PC maker, reported a 72% drop in net profit for its fourth quarter, as personal-computer sales continued to decline due to a deteriorating global economy and soft consumer spending. Revenue for the three months ended March fell 24% to $12.635 billion, as its main business of PC, smartphone and other device sales dropped 21%. The company cited a demand slowdown and exchange-rate fluctuations as reasons for the decline.
Lenovo is not alone in facing the effects of the economic downturn. Many companies have had to adjust their strategies to remain competitive in the current market. However, Lenovo is confident that its long-term strategy will help it weather the storm and emerge stronger in the future.
Roc360 Acquires PacWest’s Real-Estate Lending Business
PacWest Bancorp, a Los Angeles-based regional bank, has announced the sale of its real-estate lending arm to Roc360. The deal will allow PacWest to refocus on its core business. Roc360 will take on the unit’s business operations, but not its previously extended loans or loan-servicing operations.
Roc360 Chief Executive Arvind Raghunathan said in a statement that the company will continue to expand and develop more products and services for real-estate investors. The New York-based financial services platform includes the brands Roc Capital, Finance of America Commercial, ElmSure, Wimba Title and Tamarisk Appraisals.
The news of the loan sale has caused PacWest shares to jump 8%, as well as other regional-bank stocks. Despite the gains, PacWest shares have still dropped nearly 70% year to date, due to the wider downturn by regional banks.
PacWest’s sale of its real-estate lending arm to Roc360 is a step in the right direction for the beleaguered regional bank, as it looks to refocus on its core business and provide more products and services for real-estate investors.Comcast is set to launch a new cable-like live-TV streaming service for $20 a month. The service will offer a variety of channels, including local broadcast networks, cable networks, and premium channels. This new service is a great way for people to access their favorite shows without having to pay for a full cable package.rnrnRecently, Bud Light faced backlash for their anti-trans advertisement. This has caused some to worry about the potential “chilling effect” it could have on corporate LGBTQ+ support. Companies should be aware of the potential consequences of their actions and strive to create an inclusive environment for all.rnrnWith a debt-ceiling deal in the works, many are wondering who will buy the deluge of Treasury bills. This could have a major impact on the economy, so it’s important to keep an eye on the situation.rnrnThe housing market has been struggling for some time, but some experts believe it may have finally hit a bottom. This could be good news for potential home buyers, as prices may start to stabilize.rnrnFinally, a $60 million marijuana startup co-owned by a rapper has been revealed to be a Ponzi scheme. This serves as a reminder to be wary of any investments that seem too good to be true.The internet has revolutionized the way we search for information. With the help of search engines, we can now find what we are looking for in a matter of seconds. However, it is important to understand how search results are generated in order to get the most accurate and relevant results.rnrnSearch engines use algorithms to determine which websites are most relevant to a user’s query. These algorithms take into account a variety of factors, such as the content of the website, the number of other websites linking to it, and the popularity of the website. The search engine then ranks the websites according to their relevance and displays the results in order of relevance.rnrnIn order to get the most accurate and relevant search results, it is important to use the right keywords and phrases. It is also important to use the advanced search options available on most search engines. This will allow you to narrow down your search results and find exactly what you are looking for.rnrnSearch engines are an invaluable tool for finding information quickly and easily. By understanding how search results are generated, you can ensure that you get the most accurate and relevant results for your query. With the right keywords and advanced search options, you can find exactly what you are looking for in no time.
What Will Happen to Treasury Bills After a Debt-Ceiling Agreement is Reached?
invest in money-market funds should be prepared for a bumpy ride as the Treasury unleashes its bill supply.Money-market funds have seen a surge in assets since March, topping $5 trillion, as investors pulled their deposits from banks after the collapse of Silicon Valley Bank. This could play a role in the upcoming debt-ceiling drama. The Federal Reserve’s reverse repo facility has seen at least $2 trillion consistently sitting overnight, and market expectations are for heavy short-term Treasury bill issuance. President Joe Biden and House Speaker Kevin McCarthy have met to discuss potential ways to raise the $31.4 trillion borrowing limit and avoid a default.
Treasury cash balances have dwindled to less than $100 billion, and Barclays strategists estimate it may fall below $50 billion between June 5-15. When the battle over the debt limit ends in a resolution, longer-dated Treasury yields are expected to increase. Investors have been avoiding ultrashort Treasurys in favor of 2, 3 or 4-year bonds offering some of the highest yields in years. Ultimately, cooler heads are expected to prevail in Washington, and the worst economic outcome will have been removed.Comcast, the leading cable and internet provider, is launching a new streaming service for $20 a month. The service will offer cable-like live-TV streaming, allowing customers to watch their favorite shows and movies without the need for a cable subscription. This is a great option for those who want to save money on their monthly bills.rnrnThe US government recently reached a debt-ceiling deal, which will result in a deluge of Treasury bills. This has sparked a new worry: who will buy them?rnrnA $60 million marijuana startup co-owned by a famous rapper has been revealed to be a Ponzi scheme, according to federal authorities. This serves as a reminder to investors to be wary of any investment that seems too good to be true.rnrnThe housing market has been on a roller coaster ride for the past few years. Many are wondering if it has finally hit a bottom.rnrnFinally, Bill Gates has laid a tombstone on Amazon and Google’s AI ambitions. He believes that AI is overhyped and that it will take much longer to achieve the goals that many tech companies have set for it.