G7 Leaders’ Statement
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Reuters
Los Angeles official takes leave of absence as racist comments roil city
A Los Angeles city councilwoman day took a leave of absence from her post on Tuesday as a furor raged around her and two colleagues over racist comments she was heard making on an audiotape of their private conversation. Democrat Nury Martinez, who resigned her leadership post a day earlier, announced her leave of absence in a statement issued before the regularly scheduled council meeting. Council members Kevin de León and Gil Cedillo, who were heard on the recorded call along with local labor leader Ron Herrera, have issued apologies for their part in the inflammatory conversation but have defied calls to step down.
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Bloomberg
Ark Analyst Stands by Prediction Bitcoin Price Will Top $1 Million
(Bloomberg) — Ark Investment Management analyst Yassine Elmandjra is standing by his firm’s prediction that Bitcoin’s price will shoot past the million-dollar mark, despite this year’s massive sell-off in the digital currency. Most Read from BloombergHere’s How Weird Things Are Getting in the Housing MarketIt’s Official: The Fed’s in the RedThis Is What 7% Mortgages Will Do to the Housing MarketThe Most Powerful Buyers in Treasuries Are All Bailing at OnceUkraine Latest: Biden Sees Putin as Bot
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The Daily Beast
Russian Judge Linked to Top Putin Ally Allegedly Killed in Bridge Bomb
Anadolu Agency via GettyThree days after a huge explosion tore through a key bridge linking Russia to occupied Crimea in what the Kremlin deemed a Ukrainian “terrorist” attack against civilians, sources cited in Russian media say one of the victims was no ordinary civilian at all.Sergei Maslov, a judge of the Moscow Arbitration Court, is said to have died in the blast along with three other people who were in the same vehicle with him: fitness instructor Gleb Orgetkin and Eduard Chuchakin and Zo
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Reuters
Pork industry takes fight over California law to U.S. Supreme Court
The U.S. Supreme Court is set to hear arguments on Tuesday in an industry challenge to the constitutionality of a California animal welfare law in a case that could undermine the power of states to regulate a range of issues within their own borders. The National Pork Producers Council and the American Farm Bureau Federation are appealing a lower court’s decision to throw out their lawsuit seeking to invalidate a 2018 ballot initiative passed by voters barring sales in California of pork, veal and eggs from animals whose confinement failed to meet minimum space requirements. The pork industry has defended the size of the cages used at pig farms as humane and necessary for animal safety.
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The Hill
Here’s what you need to know about this week’s Social Security COLA hike
Story at a glance Around a quarter of the U.S. population — the majority of whom are retirees — receives Social Security benefits. A large cost-of-living adjustment, based on September’s inflation figures, is expected to be announced Thursday. Not all recipients will receive equal benefits from the adjustment. The Social Security Administration is expected to…
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Bloomberg
Uber, Lyft Shares Fall on Possible Changes to How Gig Workers Are Classified
(Bloomberg) — Uber Technologies Inc. and Lyft Inc. tumbled after the Biden administration issued a proposal that could change the way it approaches workers’ employment status, a move that could upend the ride-hailing companies’ business models that rely on millions of gig workers. Most Read from BloombergHere’s How Weird Things Are Getting in the Housing MarketIt’s Official: The Fed’s in the RedThis Is What 7% Mortgages Will Do to the Housing MarketThe Most Powerful Buyers in Treasuries Are All
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Bloomberg
Supreme Court Voices Concern Over California Humane-Pork Law
(Bloomberg) — US Supreme Court justices worried aloud about the implications of a new California humane-pork law, asking whether it might open the way for other states to try to impose their moral values beyond their borders.Most Read from BloombergHere’s How Weird Things Are Getting in the Housing MarketIt’s Official: The Fed’s in the RedThis Is What 7% Mortgages Will Do to the Housing MarketThe Most Powerful Buyers in Treasuries Are All Bailing at OnceUkraine Latest: Biden Sees Putin as Both
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Reuters
Fed’s Mester says central bank has yet to make a dent in inflation
NEW YORK (Reuters) -Federal Reserve Bank of Cleveland President Loretta Mester said Tuesday that even with a large amount of rate rises this year, the central bank has yet to get surging inflation under control and will need to press forward with tightening monetary policy. “Unacceptably high and persistent inflation remains the key challenge facing the U.S. economy,” Mester said in a speech given before a gathering held by the Economic Club of New York. “Despite some moderation on the demand side of the economy and nascent signs of improvement in supply-side conditions, there has been no progress on inflation,” Mester said.
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Reuters
India will weigh what Russia has to offer on Sakhalin-1 ownership revamp
HOUSTON (Reuters) -India maintains a “healthy dialogue” with Russia and will look at what is offered following an announced ownership revamp to the Sakhalin-1 oil and gas project, Petroleum Minister Hardeep Singh Puri told Reuters. Russia last week issued a decree allowing it to seize Exxon Mobil’s 30% stake and gave a Russian state-run company the authority to decide whether foreign shareholders including India’s ONGC Videsh can retain their participation in the project. “We’ll look at what is the state of play and what’s on offer,” Petroleum Minister Hardeep Singh Puri told Reuters in an interview on Monday following meetings with U.S. oil executives in Houston.
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Yahoo News
Russian media confronts new problem: Reality
Nearly eight months into a faltering war effort, difficult truths are becoming ever more difficult to ignore, from Ukraine’s blistering September counteroffensive to last weekend’s bombing of a bridge between Russia and Crimea.