EMERGING MARKETS-Brazil's real sinks 4%, other FX rally on dollar weakness

Associated Press
The Latest | Trump's criminal trial to enter deliberations phase after jury receives instructions
Jury deliberations in Donald Trump 's criminal hush money trial are expected to begin Wednesday after the panel receives instructions from the judge on the law governing the case and what they can take into account in evaluating the former president's guilt or innocence. The historic deliberations follow Tuesday's whirlwind of closing arguments, which stretched into the evening hours as prosecutor Joshua Steinglass accused Trump of intentionally deceiving voters by allegedly participating in a “catch-and-kill” scheme to bury stories that might obliterate his 2016 presidential bid. Steinglass further suggested that Trump operated with a “cavalier willingness” to hide payoffs and did so in a way that left “no paper trail.”
USA TODAY
Hurricane Ian destroyed his house. Still homeless, he's facing near-record summer heat.
The Northeast, where Javier Velez lives in his truck, will likely face a hotter than average summer, according to meteorologists.
Associated Press
Palestinian prime minister visits Madrid after Spain, Norway and Ireland recognize Palestinian state
Spanish Prime Minister Pedro Sánchez met with Palestinian Prime Minister Mohammad Mustafa and leading officials from several Middle Eastern countries in Madrid on Wednesday after Spain, Ireland and Norway recognized a Palestinian state. The diplomatic move by the three western European nations on Tuesday was slammed by Israel and will have little immediate impact on its grinding war in Gaza, but it was a victory for the Palestinians and could encourage other Western powers to follow suit.
Yahoo Finance
US consumers show the Fed its backward problem with high rates: Morning Brief
Consumer confidence rebounded in May, but there are signs this data is being driven by wealthier consumers enjoying the spoils of high rates, presenting a new challenge for the Fed.
Yahoo Finance
Gen X is the 401(k) 'experiment generation.' Here's how that's playing out.
Nearly half of Gen Xers say their retirement savings are behind schedule, according to a new survey.
AFP
Indian capital records highest temperature of 49.9 Celsius
Temperatures in India's capital have soared to a record-high 49.9 degrees Celsius (121.8 degrees Fahrenheit) as authorities warn of water shortages in the sprawling mega-city.- 'Water scarcity' - New Delhi authorities have also warned of the risk of water shortages as the capital swelters in headache-inducing heat, cutting supplies to some areas.
Reuters
China's Geely to launch hybrids with more fuel-efficient engines
China's Geely Holding Group on Wednesday said it would launch a series of hybrid models in the first half of next year equipped with its next-generation, more fuel-efficient engine. Geely's engine achieves a thermal efficiency of up to 46.1%, according to a product certificate issued by the government-owned CATARC Huacheng Certification Co. The new models will be launched for Geely Auto's Galaxy series and its Lynk & Co brand.
Associated Press
Police search the European Parliament over suspected Russian interference, prosecutors say
Belgium’s federal prosecutor’s office said on Wednesday that police carried out searches at the residence of an employee of the European Parliament and at his office in the Parliament’s building in Brussels over suspected Russian interference. Prosecutors said in statement that the suspect’s office in Strasbourg, where the EU Parliament’s headquarters are located in France, was also searched in partnership with the EU’s judicial cooperation agency, Eurojust, and French judicial authorities. The raids took place less than two weeks before Europe-wide polls on June 6-9 to elect a new EU parliament.
Reuters
Israel sends tanks into Rafah on raids amid Gaza-wide offensive
Israeli tanks conducted a second day of probing attacks across Rafah on Wednesday, after Washington said the assault did not amount to a major ground incursion of the southern Gazan city that U.S. officials had told Israel to avoid. Israeli tanks advanced to the heart of Rafah for the first time on Tuesday after a night of heavy bombardment, defying an appeal from the International Court of Justice to end its attack on the city, one of the last places of refuge in Gaza. The United States, Israel's closest ally, reiterated its opposition to a major Israeli ground offensive in Rafah but said on Tuesday it did not believe such an operation was under way.
USA TODAY
You're not imagining it: There's been a lot of tornadoes this spring. Here's why.
The data is still rolling in, but experts already know spring 2024 has been an active and deadly season for tornadoes.
USA TODAY
Alaska trawler bill garners industry reaction, most Alaskans support banning them: poll
Alaska Congresswoman speaks on bycatch, sustainability and fishery management's impacts on subsistence communities.
Reuters
US gives school districts $900 million for electric school buses
The funding is the third tranche of $5 billion that the U.S. Environmental Protection Agency (EPA) will hand out over five years through a clean school bus program created by the Bipartisan Infrastructure Law in 2021. The EPA rebates will support the purchase of 3,400 school buses, 92% of them electric, the White House said.
Time
Why Deadly Bus Accidents Are So Common in Developing Countries
While buses are among the safest modes of travel in the U.S. and Europe, researchers have found the “opposite” is true in the developing world.
Reuters
Kosovo prepares to house 300 inmates from Denmark, raising human rights concerns
In a jail in eastern Kosovo, plans are underway to remove all domestic inmates and open the space for foreign prisoners who will be airlifted from Denmark, more than 2,000 kilometers (1,243 miles) away. Denmark is expected to send 300 inmates to the Balkan country, a first for Kosovo and a move highly criticized by Danish human rights experts. Kosovo's prison service will rebuild the Gjilan jail during the next two years to Danish standards before receiving the convicts from non-European Union countries, who were due to be deported from Denmark after their sentences.
Reuters
China to invest more than $830 million in solid-state battery research -source
China plans to invest more than 6 billion yuan ($830 million) in a government-led project to develop solid-state batteries with six firms eligible for state funding to work on the next-generation technology, a person with direct knowledge of the matter said. Solid-state batteries hold the promise of improved safety, a longer lifespan and faster charging compared with conventional lithium-ion batteries that use flammable liquid electrolytes. China is seeking to cement its lead in the global EV market after early and heavy investment in domestic supply chains helped it become the most cost-competitive battery and EV producer in the world.
CNN
South Africans go to the polls in election seen as biggest test yet to ANC’s 30 years in power
Millions of South Africans are voting in what is expected to be the most pivotal general election since the end of apartheid.
AFP
Inside a semiconductor 'clean room' at Japan's top university
To study semiconductors at Japan's top university, first you need the right clothes -- protective overalls, shoe covers, plastic gloves and a lightweight balaclava to keep your hair out of the way.Chip expert and University of Tokyo professor Tadahiro Kuroda said Japan's push into a sector where it was once dominant feels like "spring has returned".
Associated Press
Biden, Harris to launch Black voter outreach effort amid signs of diminished support
President Joe Biden and Vice President Kamala Harris are stepping up their reelection pitch to Black voters, a key part of their 2020 winning coalition that has shown signs of fraying. The two will stop at Girard College, an independent boarding school in Philadelphia with a predominantly Black student body, and visit a small business to speak to members of the Black Chamber of Commerce. The Philadelphia stops are the start of what the campaign is describing as an eight-figure, summerlong effort to engage Black student organizations, community groups and faith centers.
Associated Press
Key Republican calls for 'generational' increase in defense spending to counter US adversaries
The top-ranking Republican on a Senate committee that oversees the military is calling for a “generational investment” in America's defense, saying aggressive and significant spending increases are necessary to deter coordinated threats from U.S. adversaries like Russia, Iran and China. Sen. Roger Wicker, a Mississippi Republican on the Senate Armed Services Committee, told The Associated Press that he will seek an additional $55 billion in defense spending over the limits that were forged in the deal to suspend the nation’s debt limit a year ago. Wicker explained his position in global terms, saying there has “never been such a level of cooperation and coordination among an axis of aggressors" that aims to challenge U.S. dominance.
Reuters
PwC to become OpenAI's largest enterprise customer, WSJ reports
PwC will roll out ChatGPT Enterprise, a version of the Microsoft-backed AI startup's chatbot aimed at large companies, the report said. The accounting firm will provide ChatGPT Enterprise to its 75,000 U.S. employees and 26,000 UK employees, the report added. Both companies did not disclose the financial terms of the deal or details on PwC's plans to resell the AI product, the Journal reported.

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