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House Ethics Committee Announces Investigation of Confused Rep. Jorge Santos

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(CNN) The House Ethics Committee announced Thursday that it will officially move forward with an investigation into embattled Rep. Jorge Santos as the New York Republican faces mounting legal troubles and calls for his resignation. For lying extensively About his biography and biography.

The ethics committee said in a news release that it voted to create an investigative subcommittee with the authority to find out about a number of issues, including whether Santos engaged in illegal activities related to his 2022 congressional campaign.

According to the release, the investigative committee will have the authority to determine whether Santos “may have engaged in illegal activity in connection with his 2022 congressional campaign; failed to properly disclose required information on reports filed in Congress, violated federal conflict of interest laws.” connection with his role in an organization providing fiduciary services; and/or sexually assaulted a person seeking employment in his congressional office.”

Santos responded to the investigation notice in a tweet.

“The House Committee on Ethics has opened an investigation, and Congressman Jorge Santos is cooperating fully,” his office’s Twitter account wrote. “No further comment will be made at this time.”

Santos told CNN in early February He was “not worried” about a House ethics investigation or New York constituents calling for his resignation.

“Are you saying that my constituents’ freedom of speech is interfering with my work?” Santos said. “Do you think people are interfering with my work here?”

This story is breaking and will be updated.

Greek train crash toll rises, government promises answers

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  • At least 46 killed in Greece’s worst train crash
  • The government promises to repair the dilapidated railway line
  • Railway employees walked off the job in protest over safety standards

LARISA, Greece, March 2 (Reuters) – The death toll from Greece’s worst train crash could rise further, with 46 people confirmed dead but ten missing, officials said on Thursday.

There was outrage across the country at how two trains could collide head-on on the same track, and the government said it was doing everything it could to prevent such an accident from happening again.

A high-speed passenger train carrying more than 350 people collided with a freight train near the city of Larissa late on Tuesday, throwing the carriages off the tracks.

“We are all devastated by this tragic incident,” government spokesman Giannis Oikonomo told a news conference.

“The loss and trauma this has caused, the physical and mental trauma of the survivors and the anxiety of this country is enormous and difficult to manage, especially now.”

As many in Greece demanded answers, rescue workers continued to comb through charred and bent train cars to find more victims.

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“It’s a very difficult moment, to save bodies instead of saving lives,” rescuer Konstantinos Imanimidis, 40, told Reuters at the crash site about 140 miles (230 km) north of Athens.

“Temperatures of 1,200 degrees and above in the carriages would not allow anyone to survive.”

Nearby, two brothers were crying, and 33-year-old Sokratis Bozos said they had come to the crash site hoping for news about their father because the hospital could not say whether his father’s body had been recovered.

Relatives, including the Bozos brothers, had to provide DNA samples at a hospital in Larissa to identify some of the victims, where disbelief turned to anger for some.

“Some bastard has to pay for this,” a relative shouted outside the hospital.

Many of the victims were university students returning home after a long vacation. Scores were injured.

objections

On Wednesday evening, protesters threw rocks at train company offices in Athens before riot police fired tear gas. Protests also broke out in Thessaloniki.

On Thursday, trains were halted in a one-day strike against the demands of unions. Successive governments have refused to heed repeated requests to improve safety standards.

The government promised a comprehensive investigation. Oikonomo said authorities will investigate the causes of the accident and “chronic delays” in the implementation of train projects.

“These delays are rooted in the long-standing ills of the Greek people (sector), distortions that go back decades,” he said, adding that the government’s efforts to deal with it “couldn’t eradicate it.”

Transport Minister Kostas Karamanlis resigned due to the accident. His successor, Giorgos Gerapetridis, said he took over on Thursday with a mandate to investigate the accident and modernize the ailing railway system.

Investigation

The station master of Larissa railway station was arrested on Wednesday and produced before a local magistrate on Thursday. Oikonomo said the man, who has not spoken publicly, pleaded guilty to negligence.

Nikos Tsouridis, a retired train driver instructor, said human error does not fully explain what happened.

“The station master made a mistake and he admits it, but of course there should be a safety mechanism to back off,” he said.

Greece sold railway operator TRAINOSE to Italy’s Ferrovie dello Stato Italiane in 2017 under its international bailout program.

The Italian operation is responsible for passenger and freight transport, and the Greek state-controlled OSE for infrastructure.

Report by Lefteris Papatimas, Alexandros Avramidis, Renee Maltezou, Carolina Tagaris, Michele Kambas; By Renee Maltezou; Editing by John Stonestreet and Frank Jack Daniel

Our Standards: Thomson Reuters Trust Principles.

China scoffs at FBI claims Wuhan lab leak could cause Covid pandemic

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WASHINGTON, March 1 (Reuters) – The FBI has assessed that a leak from a laboratory in the central Chinese city of Wuhan may have caused the Covid-19 pandemic, Director Christopher Wray said on Tuesday, adding that China had “no credibility.”

“The FBI has assessed for some time that the origin of the outbreak was most likely a possible laboratory incident in Wuhan,” Ray told Fox News.

His comments followed a Wall Street Journal report on Sunday that the U.S. Department of Energy had assessed with low confidence that the outbreak was the result of an unintended laboratory leak in China.

Four other agencies, along with the National Investigation Agency, are still ruling that the epidemic may have been the result of natural spread, and two are undecided, the Journal reported.

White House national security spokesman John Kirby said on Monday that the US government had not reached a firm conclusion and consensus on the origin of the pandemic.

Federal Bureau of Investigation (FBI) Director Christopher Wray testifies before the House Homeland Security Committee on “Global Threats to the Homeland” on Capitol Hill in Washington, U.S., on November 15, 2022. REUTERS/Michael A. McCoy

China condemned Wray’s comments on Wednesday, saying it firmly opposes any “political manipulation” of facts.

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“Based on the U.S. intelligence community’s poor record of fraud and deception, their conclusions have no credibility,” Chinese Foreign Ministry spokesman Mao Ning told reporters in Beijing.

“…we urge the US side to respect science and facts.”

Many details of the agency’s assessment could not be shared because they are classified, Ray said.

He accused the Chinese government of “doing everything it can to block and obfuscate” efforts by the US and others to learn more about the origins of the epidemic.

The virus was first identified in Wuhan in December 2019 and has since spread worldwide, killing nearly 7 million people.

Report by Eric Beach; Editing by Dan Whitcomb and Nick MacPhee

Our Standards: Thomson Reuters Trust Principles.

11 minutes of daily aerobics reduces disease risk, study suggests

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Sign up for CNN’s Fitness, But Better newsletter series. Our seven-part guide will help you make a healthy routine easier with expert support.



CNN

Do you feel like there’s no point in doing anything when you can’t fit your entire workout into a busy day? You need to rethink that mindset. A major new study finds that 11 minutes of moderate-to-vigorous intensity aerobic activity a day can lower your risk of cancer, cardiovascular disease or premature death.

Aerobic activities include walking, dancing, running, jogging, cycling and swimming. You can measure the intensity of the activity by your heart rate and how hard you breathe while you move. In general, being able to speak during an activity but not singing can cause moderate intensity. Extreme severity is indicated by an inability to carry on a conversation.

According to past research, higher levels of physical activity are associated with lower rates of premature death and chronic diseases. But it is difficult to determine how risk levels for these outcomes are affected by the amount of exercise someone takes. To investigate this impact, scientists from the University of Cambridge in the United Kingdom looked at data from 196 studies, involving more than 30 million adult participants who were followed for an average of 10 years. The The results of this recent study It was published Tuesday in the British Journal of Sports Medicine.

Adding 11 minutes of exercise to your day can lower your risk of chronic disease and death, new research has found.

The study mainly focused on participants who did the minimum recommended exercise of 150 minutes per week or 22 minutes per day. Compared to inactive participants, adults who did 150 minutes of moderate to vigorous aerobic physical activity per week had a 31% lower risk of dying from any cause, a 29% lower risk of dying from cardiovascular disease, and a 15% lower risk of dying from cancer.

The same amount of exercise is associated with a 27% lower risk of cardiovascular disease and a 12% lower risk of cancer.

“This is a compelling systematic review of existing research,” said CNN clinical investigator Dr. Lena Wen, an emergency physician and professor of public health at George Washington University who was not involved in the research. This research backs that up, and suggests that even smaller amounts than the recommended 150 minutes of exercise per week can help.

Even those who got half the minimum recommended amount of physical activity benefited. 75 minutes of moderate-intensity activity per week — about 11 minutes of activity per day — was associated with a 23% lower risk of early death. Being active for 75 minutes on a weekly basis is enough to reduce the risk of developing cardiovascular disease by 17% and cancer by 7%.

Above 150 minutes per week, the additional benefits are small.

“If you find the idea of ​​150 minutes of moderate-intensity physical activity a week a bit daunting, our findings are good news,” said study author Dr Soren Brage. Medical Research Council Epidemiology Unit at the University of Cambridge A press release. “This is also a good starting point – if you find that 75 minutes a week is manageable, you can gradually try to increase it to the full recommended amount.”

The authors’ findings confirm the World Health Organization’s position that even if you don’t get the recommended amount of exercise, it’s best to do some physical activity.

“One in 10 premature deaths could be prevented if everyone achieved even half of the recommended amount of physical activity,” the authors wrote in the study. Additionally, “CVD (cardiovascular disease) and cancer would have been prevented in 10.9% and 5.2% of cases, respectively.”

Important note: If pain occurs during exercise, stop immediately. Check with your doctor before starting any new exercise program.

The authors did not have details about the specific types of physical activity that the participants did. But some experts have ideas about how physical activity can reduce the risk of chronic diseases and premature death.

“Aerobic activity has a variety of beneficial effects, including improving and maintaining body composition, insulin resistance, and physical activity,” said Haruki Momma, associate professor of medicine and science in sports and exercise at Tohoku. University in Japan. Amma is not involved in research.

Benefits include improvements in immune function, lung and heart health, inflammation levels, high blood pressure, cholesterol and body fat levels, said Eleanor Watts, a postdoctoral fellow in the Division of Cancer Epidemiology and Genetics at the National Cancer Institute. Watts was not involved in the research.

“These create a lower risk of getting chronic diseases,” said Peter Katzmarczyk, associate executive director of population and public health sciences at the Bennington Biomedical Research Center in Baton Rouge, Louisiana. Katzmarczyk was not involved in the research.

The fact that participants who did at least half of the recommended amount of exercise still experienced benefits doesn’t mean people shouldn’t aim for more exercise, Wen said, but rather that “the fit shouldn’t be the enemy of the fit.” “Better than some.”

Find activities you enjoy to get up to 150 minutes of physical activity per week, Wen said. “You’re more likely to engage in something you love than you have to.”

When it comes to how you fit in your exercise, you can think outside the box.

“Moderate activity doesn’t have to include what we typically think of as exercise, like playing sports or running,” said Leandro Garcia, a lecturer in the School of Medicine, Dentistry and Biomedical Sciences at Queen’s University Belfast, in a news release. “Sometimes, all you need is to change some habits.

“For example, try walking or cycling to your place of work or study instead of using a car, or engage in active sports with your children or grandchildren. Doing activities that you enjoy and can easily add to your weekly routine is a great way to be more active.

After a disputed election, Tinubu announced his election as president of Nigeria

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ABUJA, Feb 28 (Reuters) – Nigeria’s electoral commission on Wednesday declared ruling party candidate Bola Tinubu as president after a disputed weekend election that was boycotted by the two main opposition parties.

Tinubu’s victory widens the ruling All Progressives Congress (APC) party’s grip on power in Africa’s leading oil producer and most populous nation, although he has received many challenges from President Muhammadu Buhari of the APC.

The former governor of commercial hub Lagos polled 8.79 million votes, ahead of main opposition rival Atiku Abubakar’s 6.98 million votes. Peter Opie, a popular foreigner among young voters, won 6.1 million votes.

Nigerian electoral law states that a candidate can win by getting more votes than his rivals, with at least two-thirds of 25% of the 36 states and the federal capital, Abuja, and Tinubu was able to do the same.

Additional reporting by Hamza Ibrahim in Kano, Felix Onua and Camillus Ebo in Abuja; Anamesere Igboeroteonwu in Onitsha and MacDonald Dzirutwe and James Oatway in Lagos; Written by Tim Cox Editing by Emilia Sithole-Madaris and Deepa Babington

Our Standards: Thomson Reuters Trust Principles.

Supreme Court hears arguments on student loan waiver scheme

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2:33 PM ET, February 28, 2023

Key Takeaways from SCOTUS Oral Arguments in Cases Challenging Biden’s Student Loan Forgiveness Plan

From CNN’s Tierney Snead and Devan Cole

Police officers walk outside the Supreme Court on Capitol Hill in Washington DC on Tuesday.

(Patrick Semansky/AP)

The Supreme Court heard Oral arguments on Tuesday’s two challenges Many conservative justices are skeptical of the government’s authority to pay off millions of dollars in federal loans, thanks to President Joe Biden’s student loan relief plan.

The hearing made it clear that if conservatives ultimately rule in favor of opponents of the policy, they must understand legal questions about why states and individual borrowers should be allowed to sue the program. Arguments.

Millions of student loan borrowers qualify Up to $20,000 of their debt can be written off Depending on the outcome of the arguments. The justices’ ruling will determine how and when payments on federal student loans will resume after a pandemic-related pause nearly three years ago.

In Biden v. nebraska, A Republican-led group of states argued the administration overstepped its authority by using the pandemic to cover up its real goal of fulfilling a campaign promise to wipe out student-loan debt.

The second case is Department of Education v. Brown argues that it was initially brought by two individuals who did not qualify for the program and that the government failed to follow a proper rule-making process when implementing it.

Here are some excerpts from the oral arguments:

Conservatives see the case as another opportunity to rein in Biden’s aggressive actions: In questions posed by the conservative justices, they signaled that they were looking to make the GOP states’ case to the court. Another opportunity to draw lines The executive branch can and cannot function without Congress.

About what are called multiple exchanges “Key Questions Theory” A legal doctrine adopted by the Court’s Republican nominees is that when Congress is empowered to do something of great political or economic importance to an agency, it can be expected to speak with specificity.

Under the theory, the states argue that the Biden student loan program should be blocked.

GOP State’s Attorney Stands and Grills: A key theme was whether GOP states were threatened with the kind of harm that warranted court intervention. Campbell received a series of questions — from justices on both sides of the ideological spectrum — about whether states had crossed these procedural thresholds, known as “standing.”

A particular flashpoint in the investigation was the possible harm of the loan forgiveness program given MOHELA — a Missouri-incorporated entity that makes loans in the state — Missouri’s position. Several judges noted that MOHELA could have filed its own suit against the project, but did not.

Barrett could be a justice: Judge Amy Connie Barrett Among conservatives, he set aside a potential vote for the court’s three liberal members to ask specifically pointed questions about GOP states’ standing arguments.

“If the mohela is part of the state, why don’t you say you’re a strong mohela and pursue this case,” Barrett asked Campbell, who asked him several questions about the states’ positions.

Even if Barrett voted with liberals to dismiss the case because of sustainability concerns, the Biden administration would need the vote of one more GOP-appointed judge.

Sotomayor raises the practical stakes of the case: In comments extended to Campbell, Justice Sonia Sotomayor explained the practical implications of the case in stark terms.

“There are 50 million students — who will benefit from this. Who will struggle today. Many of them don’t have enough assets to bail out after the pandemic. They don’t have friends or family or other people who can help make these payments,” he noted. Those borrowers will be affected by the pandemic in ways that others will not be affected. He said.

Read on for more Here.

New Hampshire Forecast: Piles of snow Tuesday

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Snow started overnight and will continue throughout New Hampshire throughout Tuesday. A winter storm warning has been issued for all of Strafford, Carroll, Merrimack counties and western portions of Rockingham and Hillsborough counties. These zones have the greatest potential for several inches of snow. A winter weather advisory is in effect elsewhere across the state.>> WEATHER WARNINGS It won’t be a major storm, but snow is expected to fall lightly for about 18-24 hours. Light snow started falling around midnight on Tuesday morning. By sunrise, snow was falling across much of the state as temperatures hovered in the 20s. >> Interactive Radar | TRAFFIC TRACKER In the afternoon, snow will continue with temperatures in the low 30s. Most of the time snowfall rates are less than an inch per hour. Snow tapers off around midnight Wednesday or earlier as lows drop into the 20s. >> Check out the latest hour-by-hour timeline: Eventually, accumulations of about 4-8 inches are possible across parts of the Monadnock region and Lakes region, the White Mountains and parts of western New Hampshire. North country. Around 2-4 inches will accumulate in southern New Hampshire through the southern Merrimack Valley toward the coast and into the Connecticut River Valley. Some areas northwest of the White Mountains will get 1-2 inches of accumulation. While the snow won’t accumulate quickly, travel conditions will be very slick Tuesday morning and throughout the day. Storm ahead? Sunshine returns Wednesday with a chance of rain or snow by evening. Another quick shower with mild temperatures on Thursday. Wintry weather will be more impactful Friday night into Saturday with snow for many and parts of southern New Hampshire with snow. It’s not too late to determine the storm’s exact track, timing, amounts, or precipitation type. Stay tuned to the Storm Watch 9 team for updates. Be aware of the weather! Download the WMUR app for Apple or Android devices and enable push notifications. You can choose to receive weather alerts based on your geographic location and/or up to three zip codes. Plus, you can get notified when rainfall hits your area. Follow the Storm Watch 9 Team on Social Media: Mike Haddad: Facebook | TwitterKevin Skarupa: Facebook | TwitterHayley LaPoint: Facebook | Twitter Jacqueline Thomas: Facebook | Twitter Matt Hoenig: Facebook | Twitter

Snow started overnight and will continue throughout New Hampshire throughout Tuesday.

A winter storm warning has been issued for all of Strafford, Carroll, Merrimack counties and western portions of Rockingham and Hillsborough counties. These zones have the greatest potential for several inches of snow. A winter weather advisory is in effect elsewhere across the state.

>> Weather warnings

It won’t be a major storm, but light snow is expected for about 18-24 hours.

Light snow started falling around midnight on Tuesday morning. By sunrise, snow was falling across much of the state as temperatures hovered in the 20s.

>> Interactive Radar | Traffic Supervisor

In the afternoon, snow will continue as temperatures drop into the low 30s. Most of the time snowfall rates are less than an inch per hour.

Snow tapers off around midnight Wednesday or earlier as lows drop into the 20s.

>> Check out the latest hour-by-hour schedule:

Eventually, accumulations of about 4-8 inches are possible across parts of western New Hampshire and parts of the Monadnock region through the Lakes region, White Mountains and parts of the North Country.

Around 2-4 inches will accumulate in southern New Hampshire through the southern Merrimack Valley toward the coast and into the Connecticut River Valley. Some areas northwest of the White Mountains could end up with 1-2 inches of accumulation.

Although the snow won’t accumulate quickly, travel conditions will be very slick Tuesday morning and throughout the day.

Storm ahead?

Sunshine returns Wednesday with a chance of rain or snow in the evening.

Another quick shower with mild temperatures is likely on Thursday.

Wintry weather will be more impactful Friday night into Saturday with snow for many and parts of southern New Hampshire with snow. It is still too late to determine the storm’s exact track, timing, amounts or rainfall type.

Stay tuned to the Storm Watch 9 team for updates.

Be weather alert! Download the WMUR app Apple Or Android Enable devices and push notifications. You can choose to receive weather alerts based on your geographic location and/or up to three zip codes. Plus, you can get the word out when precipitation is coming to your area.

Follow the Storm Watch 9 team on social media:

Sources say the leaked Covid-19 assessment from a Chinese lab is a minority view in the US intel community

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(CNN) Department of Energy Low confidence rating That COVID-19 Most likely stemming from a lab leak in China remains a minority view in the intelligence community, three sources familiar with the intelligence community’s findings told CNN.

While the FBI estimates — with moderate confidence — that the coronavirus that causes Covid-19 may have leaked from a laboratory, most of the intelligence community believes that Covid arose naturally in the wild or is still rare. Evidence to make a judgment one way or the other.

Three sources told CNN that the shift in the energy sector is based in part on information about research conducted at the Chinese Centers for Disease Control in Wuhan, China.

CNN previously reported that the Chinese CDC lab in Wuhan was researching coronaviruses and bats, but it was unclear how closely related the variants studied there were to SARS-CoV-2, the strain of the virus that swept the world in 2020.

However, other intelligence agencies disagree that this data point is sufficient evidence to assess whether the virus may have leaked from the lab, according to sources.

A 2021 report Published by the Office of the Director of National Intelligence, the National Intelligence Council, along with four unidentified agencies, assessed with low confidence that the initial Covid-19 infection was “most likely due to natural exposure to an infected animal.” A close progenitor virus.”

Three other intelligence community organizations “were unable to piece together any explanation without additional information, with some researchers favoring a natural origin, others a laboratory origin, and some viewing the hypotheses equally.” As CNN reported, one of the agencies that hasn’t made that decision is the CIA, which remains on the fence on the issue.

Sources said that the only significant change from the 2021 report was in the field of energy analysis. The intelligence community provided lawmakers with an update on that report in recent weeks, including a new DoE assessment.

Two Democratic sources familiar with the intelligence debate downplayed the significance of the new energy assessment because the most prominent agencies in the intelligence community have not changed their positions, despite reviewing the information the Energy Department used for its assessment.

But a GOP source familiar with the energy assessment said it was significant that the agency was willing to come out in support of the lab theory. They also reiterated that China is still withholding important information that they could share for further clarification.

China’s foreign ministry backtracked when asked about the reported assessment during a regular briefing on Monday. “Related parties should stop stirring up arguments about laboratory leaks, stop defaming China and stop politicizing the issue of the origin of the virus,” said spokesman Mao Ning.

State Department spokesman Ned Price on Monday accused the agency of “preventing international investigators and members of the global health community from the very beginning from accessing the information they need to understand the origins of Covid-19.”

June 2021 American Intelligence Community Reference It was released as part of an investigation into the origins of Covid-19, which was previously obtained by CNN, instructing agencies to expand their collections on “the breadth of Chinese biological research and related activities.”

The memo specifically instructed the intelligence community to focus on “data or samples from sites where samples were taken related to coronavirus research,” including the Huanan Seafood Wholesale Market, located just off the Wuhan CDC.

A 2021 ODNI report noted that until China agrees to cooperate with global investigations, a definitive assessment of the outbreak’s origins will remain elusive.

“China’s cooperation will likely be needed to achieve a definitive assessment of the origin of COVID-19,” the report said. “Beijing, however, obstructs the global inquiry, resists sharing information and blames other countries, including the United States.”

Two top GOP lawmakers sent letters Monday demanding a wide range of information from the Biden administration about the origins of Covid-19.

House Oversight Chairman James Comer of Kentucky and Ohio Rep. Brad Wenstrup, chairman of the coronavirus select committee, on Monday sent requests to the State Department, Energy Department and FBI for documents and testimony related to their ongoing investigation into the pandemic and how it began. , according to letters obtained by CNN.

Wenstrup’s subcommittee plans to hold its first hearing on March 8, a Republican aide said.

John Kirby, the National Security Council coordinator for strategic communications, reiterated at the White House on Monday that the US government does not have a consensus on the origin of the virus.

“What the president wants are the facts. He wants the whole government to be designed to get those facts. That’s what we’re doing, and we’re not there yet,” Kirby told reporters. “While we’re still there, if there’s something short for the American people and Congress — we’re going to do it.”

Watch SpaceX launch the new V2 mini Starlink satellites on February 27

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Update on February 27 at 12:20 pm ET: SpaceX delayed the launch of Starlink from Vandenberg until Tuesday (Feb. 28) and pushed the Florida liftoff to 6:13 pm EST (2313 GMT) tonight (Feb. 27).


SpaceX plans to launch a new generation of Starlink Internet satellites tonight, which you can watch online for free.

Stocks, data, news and earnings

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24 minutes ago

Stocks that did well last year will do well this year, strategist says

Roger Lee, head of UK equity strategy at Investec, shares his views on the contrasting fortunes of the US and UK stock markets.

An hour ago

Commerzbank CEO: German economy ‘resilient’

Commerzbank CEO Manfred Knof described elements of Germany’s economy as “resilient” in an interview with CNBC’s Annette Weisbach.

“The German Mittelstand is very resilient,” Knopf said when discussing Commerzbank’s return to Germany’s DAX index. “Mittelstand” describes Germany’s medium-sized companies, which typically perform well during times of economic instability.

He also noted that companies are moving away from investing in China and putting more money into North America and Australia.

Commerzbank exited Germany’s blue-chip index in 2018, but rejoined on Monday after taking steps to restore profitability.

Knopf told CNBC that his outlook for the German economy is “better than some people think” because Commerzbank and its customers are in “good shape.”

Knopf said he expected “a little bit more to come,” reflecting the European Central Bank’s recent interest rate hike.

“[A rate of] 3 plus, maybe what we expect,” he said, adding that 3% interest rates “will become normal.”

Commerzbank predicted its 2023 results would be “significantly higher” than those seen in 2022, after the bank delivered a better-than-expected fourth quarter in February.

– Hannah Ward-Glenton

An hour ago

Stocks on the move: SBB down 9.5%, Tegra Pharm down 15%

Nordic property firm Samhällsbyggnadsbolaget was the top European stock in morning trade, gaining 9.5% as the European construction and materials sector rose 1.4%.

Rolls-Royce extended recent gains, rising 6% after smashing expectations for annual profit.

British veterinary products company Tegra Pharmaceuticals fell 15% after reporting first-half profit fell to £29.7 million from £53.4 million ($63.9 million).

– Jenny Reid

2 hours ago

We expect a 5G market peak that extends over several years, says Nokia CEO

Becca Lundmark discusses the outlook for 5G at Mobile World Congress in Barcelona.

2 hours ago

The UK energy price ceiling was lowered in the spring, but costs remain high

The regulator-set cap on the amount British energy suppliers can charge households has been cut by almost £1,000 ($1,194).

From 1 April to 30 June, bills for both gas and electricity will be reduced by £3,280, down from £4,279 currently. Regulator Ofgem attributed this to the recent fall in wholesale energy prices.

It is the UK government Subsidy A fraction of consumer energy bills up to April 2024 means the average household will pay around £3,000 – more than double the average in 2021, but less than expected without the intervention.

With inflation still running at over 10%, many Britons continue to struggle with the rising cost of living. Workers from various sectors are on a widespread strike demanding wage hike.

– Jenny Reid

3 hours before

Commerzbank shares rose 4% as the bank re-entered Germany’s DAX

Commerzbank shares rose in early trade after Germany’s second-biggest lender rejoined the country’s DAX blue-chip stock index.

3 hours before

European markets open higher

Europe’s Stoxx 600 index rose 0.8% after opening Monday, with all sectors in positive territory,

This comes after European markets posted their sharpest decline of the year last week. This week, traders will watch inflation prints from France, Spain, Germany, Italy and the Eurozone.

Energy stocks rose 1.43% on Monday, while the insurance sector rose 1.4%.

Germany’s DAX index ended last week’s pessimistic gain of 1.15%, while France’s CAC 40 was about 1% higher and the UK’s FTSE 100 was 0.75% higher.

Check out the chart…

Stoxx 600 Index.

9 hours ago

CNBC Pro: ‘The market has gone too far:’ Chief global strategist predicts when Fed will cut rates

Despite efforts by the US Federal Reserve to tighten monetary conditions, “the market has gone too far,” says Seema Shah, chief global strategist at Principal Global Investors.

The strategist told CNBC how the Federal Reserve might act and when it might cut interest rates, which could lift stock markets.

CNBC Pro subscribers can read more here.

Fri, Feb 24 2023 3:16 PM EST

Baird says investors should ‘control what they can control’

According to Baird analyst Ross Mayfield, the market is currently experiencing the effects of “too much good news at once.” As inflation heats up and the Federal Reserve is expected to continue raising rates, Mayfield advises investors to “control what” [they] can be controlled.”

“First, automate things: dollar cost averaging (investing at regularly scheduled intervals) is a great way to find outperformance in volatile/sideways markets,” Mayfield wrote in a Friday note.

“Second, review your allocation and make sure you’re well-diversified and well-planned.”

– Hakyung Kim

Fri, Feb 24 2023 8:36 AM EST

Fed master says rates need to go above 5% to control inflation

Cleveland Federal Reserve President Loretta Mester said on Friday that interest rates will need to stay higher as inflation eases.

“I see that we need to bring interest rates above 5%,” he told CNBC’s Steve Leisman during a “Squawk Box” interview. “We’ll find out how much higher. It depends on how the economy develops over time. But I think we need to be above 5% to get inflation on a sustainable downward path. Up to 2%.”

Jan. Mester recently reported that he was among a small group of central bank officials on 31-Feb. 1 The Federal Open Market Committee approved a half-percentage-point rate hike rather than a quarter-point move.

– Jeff Cox

9 hours ago

CNBC Pro: Investor Says Tech Isn’t Bottoming Out Yet – And Reveals FAANG Stocks To Avoid

A bear market rally or the new bull market? Market pros are undecided about this year’s tech bounce, but investor Mark Howdin thinks the worst is yet to come.

While FAANG stocks are popular with many investors, Haddin believes some are riskier bets than others.

Pro subscribers can read more here.

– Javier Ong

7 hours ago

European markets: Here are the opening calls