tyb
good morning
Goldman Sachs to invest $10 billion over 10 years to support Black women
Goldman Sachs Group Inc said on Wednesday it will invest $10 billion in an initiative called “One Million Black Women” to support Black women over the next 10 years, focusing on areas including healthcare, job creation and education. The bank said the move is part of its commitment to impact the lives of at least one million Black women by 2030.
Against the backdrop of protests over the death of African-American George Floyd last year, major companies have pledged to increase diversity, donate to civil rights groups and change policies.
Goldman created a $10 million fund last year to promote racial equity. At the time, the company said it had invested around $200 million over the decade to organizations dedicated to providing services to communities of color. Rosalind Brewer, Chief Executive Officer of drugstore chain Walgreens Boots Alliance, and Lisa P. Jackson, Vice President of Environment, Policy and Social Initiatives at Apple Inc will sit on the advisory council of the new project.
The council will also include Marc Morial, CEO of civil rights organization National Urban League and a former Mayor of New Orleans.
https://www.reuters.com/article/goldman-sachs-investment/update-2-goldman-sachs-to-invest-10-bln-over-10-years-to-support-black-women-idUSL4N2L834A
How about just….women…No?
U.S., China Envoys to Hold First In-Person Meeting in Alaska
U.S. Secretary of State Antony Blinken and National Security Advisor Jake Sullivan will meet with their Chinese counterparts in Alaska next week, according to two people familiar with the matter.
Blinken and Sullivan’s meeting with Yang Jiechi, a member of the ruling Politburo, and Wang Yi, the foreign minister, would represent the highest-level exchange between the two sides since President Joe Biden took office in January.
Ties between the U.S. and China sank to their lowest level in decades under former President Donald Trump, with both nations ramping up sanctions and tariffs, expelling journalists and closing consulates.
Plans for the meeting were reported earlier by the South China Morning Post. In response to a question about the Post’s report on Tuesday, U.S. State Department spokesman Ned Price said the agency didn’t “have any future travel or meetings to announce at this time.” Chinese Foreign Ministry spokesman Zhao Lijian declined to comment about the report when asked about it at a regular briefing Wednesday in Beijing.
Blinken and Defense Secretary Lloyd Austin are preparing to visit Japan and South Korea next week as part of Biden’s efforts to demonstrate an early diplomatic focus on Asia. Trips over the Pacific Ocean by U.S. officials often involve stopovers in Alaska.
https://www.bnnbloomberg.ca/u-s-china-envoys-to-hold-first-in-person-meeting-in-alaska-1.1574992
Credit Suisse scrambles to contain $10 billion Greensill aftershocks
Credit Suisse grappled with the fall-out of Greensill Capital’s insolvency on Wednesday, as the head of its European asset management division temporarily stepped aside and it appointed receivers to recover a $140 million loan in Australia.
The Swiss bank was a key source of funding for the speciality finance firm, selling $10 billion worth of securities created by Greensill to investors via its asset management arm. Greensill began to unravel last week after losing insurance coverage for its debt repackaging business, prompting Credit Suisse to freeze its Greensill-linked funds. Three Credit Suisse employees, including the head of its European asset management division, who helped oversee the Greensill funds have temporarily stood aside.
Japanese insurer Tokio Marine Holdings Inc, which provided $4.6 billion of coverage to Greensill credit notes, said on Wednesday that it was investigating the validity of those policies. Tokio Marine’s exposure to Greensill comes via a company it bought from Insurance Australia Group in 2019. A source familiar with the situation said the policies were directly linked to the $10 billion worth of funds frozen by Credit Suisse. In a note to investors on Tuesday, Credit Suisse said it had not been informed of any insurance cancellation “until very recently,” and that existing policies from Insurance Australia had remained unchanged. Credit Suisse declined comment on the probe by Tokio Marine.
If Greensill’s lending practices did not meet standards laid out in the insurance contract or were inconsistent with normal accounting rules, then an insurer would have grounds to challenge whether coverage applied, supply chain experts have said. Greensill declined to comment. “We have concerns about the validity of all Greensill policies and are conducting an investigation,” Tokio Marine spokesman Tetsuya Hirano said. Hirano said that the $4.6 billion worth of coverage attributed to Tokio Marine Holdings in court filings did not reflect the likely loss. He declined to comment further.
Credit Suisse is in the process of liquidating its Greensill funds and has so far made $3.05 billion worth of payments to investors. It has said further liquidation proceeds will be paid out “as soon as practicable”.
https://www.reuters.com/article/britain-greensill-credit-suisse/update-1-credit-suisse-scrambles-to-contain-10-billion-greensill-aftershocks-idUSL1N2L80T5
AE6859 US Navy P-8 Poseiden in the Northern Persian Gulf
BLWWF12 USAF BACN Glex nw from Al Dhafra AB in to Iraq
Defiant Lula Stops Short of Announcing Brazil Presidential Run
Luiz Inacio Lula da Silva bashed President Jair Bolsonaro, defended more aid to the poor and spoke against privatizations in his return to Brazil’s political scene.
The former president stopped short of announcing plans to run in the 2022 election in his first speech after corruption convictions were annulled by a Supreme Court justice, clearing the way for his comeback. “I don’t have time to think about a candidacy in 2022,” Lula said at a press conference on Wednesday. “That’s a discussion for the future.” Lula added that he’s focused on uniting the left around a name for 2022, which didn’t happen in 2018.
If confirmed, the candidacy of the 75-year-old former president is likely to drive a wedge in a country already grappling with with another devastating wave of Covid-19 and its ensuing economic toll. It would also increase chances that moderates may be again squeezed out of the competition and could add to concern that Bolsonaro will abandon his market-friendly reform agenda and push for populist measures instead.
Speaking for over an hour at his former union headquarters in a working class suburb of Sao Paulo, Lula thanked left-wing politicians for the support and reaffirmed his innocence. He also bashed Bolsonaro’s views and policies, including his handling of the pandemic. “This country has no government,” Lula said. “Do not listen to any idiotic decisions from the president or the health minister. Get vaccinated.”
Lula, flanked by close allies, had as background an image of himself being carried by supporters, taken before he was sent to jail in 2018. The poster had sayings of “vaccines for all” and “emergency aid now.”
https://www.bnnbloomberg.ca/defiant-lula-stops-short-of-announcing-brazil-presidential-run-1.1575068
SEC Warns Investors About Buying SPACs Endorsed by Celebrities
That’s the message from the U.S. Securities and Exchange Commission, which warned investors Wednesday about buying shares of special purpose acquisition companies based on endorsements from Hollywood actors, professional athletes and famous musicians. The SEC highlighted that the red-hot listings, which have captured the attention of Wall Street and retail investors, can pose substantially more risks than typical initial public offerings.
“It is never a good idea to invest in a SPAC just because someone famous sponsors or invests in it or says it is a good investment,” the agency said in a statement. The SEC didn’t name any specific celebrities. A number of stars have announced ties to the blank-check companies, including rapper Jay-Z, NBA player Steph Curry and tennis champion Serena Williams.
The SEC’s caution flag about SPACs is similar to a warning it issued in 2017 about initial coin offerings when Bitcoin and other cryptocurrencies were soaring. The agency said at the time that investors should be wary of investing in ICOs based on celebrity pitches. The regulator later brought enforcement actions against popular icons such as boxer Floyd Mayweather and rapper DJ Khaled for not disclosing they were being paid for the endorsements.
https://www.bnnbloomberg.ca/sec-warns-investors-about-buying-spacs-endorsed-by-celebrities-1.1575079
ya think?
was down with the read only first, then server took too long then unknown error.
A normal day so far
kek
00-9001 USAFSOC C-32B over Newburgh, NY- West Point just south of here
RCH575T USAF C-17 Globemaster on ground at Buckley AFB Denver from Dover AFB depart
The visit by #18-1942 (SAM800)-cap #2 KAF AC of Interdast to Peterson AFB yesterday and now the C-17 to Buckley suggests a Fauxtus or Kamel Toe visit to the area soon
BOXR539 USAF C-40C departed Peterson AFB afte a quick ground stop east
C-17 on ground at Buckley
that's nice however wut did they do when they were not locked out??….Not a fuggen thing
168680 USMC V-22 Osprey departed Palm Springs Int'l-where it arrived as LUCKY11 last night after EXEC1F-and on approach for 29 Palms
handler visits 29 palms today
Jill Biden to visit Twentynine Palms Marine base on Wednesday
https://www.desertsun.com/story/news/2021/03/05/first-lady-jill-biden-visit-twentynine-palms-marine-base-next-week/4603244001/
RCH575T USAF C-17 Globemaster departed Buckley AFB after a quick ground stop ws
ICE27 USAF C-17 Globemaster departed Christchurch Int'l Airport, NZ for Antarctica-summer ending and these are supply runs
U.S. extends $14 billion lifeline to airlines in third government aid package
U.S. lawmakers on Wednesday gave final approval to a new $14 billion payroll assistance package to U.S. airlines as part of a COVID-19 relief bill, the third round of government support to the struggling sector since March 2019. With the latest six-month extension that will keep thousands of workers on payrolls through Sept 30, Congress has awarded U.S. airlines $54 billion for payroll costs since March 2020. U.S. air passenger travel fell by 60% in 2020 to the lowest level since 1984, down more than 550 million passengers. U.S. passenger airlines are still collectively burning about $150 million daily, and the cash bleed is expected to continue through most of this year as demand remains depressed. Airlines for America, an industry trade group, praised the latest extension, saying it “is vital to have our employees on the job and ready to assist as our nation prepares to move forward from this crisis.” U.S. airline shares have gained around 16% over the past month as domestic travel trends improve amid vaccine rollouts.
The Transportation Security Administration screened over 1 million passengers on five of the first 10 days of March and analysts expect the numbers to increase heading into spring. Some low-cost carriers focusing on domestic leisure travel are starting to hire again and say they could have managed without another bailout. Overall U.S. airlines have benefited from taxpayer help more than rivals in neighboring regions like Canada, where the government has yet to extend an aid package for the industry, or in Latin America, where two large carriers filed for Chapter 11 protection due to COVID-19.
The U.S. government last year also extended $25 billion in low-cost loans to airlines. Of the payroll grants, U.S. Treasury required larger airlines to repay 30% and award the government warrants.
https://www.reuters.com/article/health-coronavirus-usa-airlines/u-s-extends-14-billion-lifeline-to-airlines-in-third-government-aid-package-idUSL1N2L82JT
RCH575T USAF C-17 Globemaster on descent for Travis AFB from Buckley AFB ground stop
RUMMY71 72 USAF DC-10 extenders from Portsmouth Int'l Airport, NH heading to Travis AFB as well
Greensill tech partner Taulia secures $6 bln funding from JPM-led consortium
U.S. fintech firm Taulia, a technology partner of supply chain finance specialist Greensill, said on Wednesday it had secured more than $6 billion in funding from a financing consortium led by JPMorgan. The consortium will include European lenders UniCredit , UBS and BBVA, Taulia said in a statement.
Greensill Capital filed for insolvency on Monday after losing insurance coverage for its debt repackaging business and said in its court filing that its largest client, GFG Alliance, had started to default on its debts. JPMorgan, an investor and strategic partner of Taulia, provided $3.8 billion of a credit facility worth more than $6 billion, a source familiar with the matter told Reuters.
Taulia works with financial institutions to allow suppliers that use its platform to receive early payments on their delivered goods and services. Taulia said the credit facility would provide its clients that formerly relied on Greensill funding continued access to liquidity.
https://www.reuters.com/article/britain-greensill-taulia/update-1-greensill-tech-partner-taulia-secures-6-bln-funding-from-jpm-led-consortium-idUSL8N2L86NN
pb
EXEC1F USAF C-32A departed Palm Springs Int'l Airport east
They used Ospreys from Palm Springs to 29 Palms and back
Can see them at :34 seconds departing Palm Springs
Jill Biden Visits Twenty-nine Palms Marine Corps Base
https://kesq.com/news/2021/03/10/live-coverage-first-lady-jill-biden-visits-twentynine-palms-marine-base/
Israeli AF G550 Nachshon Eitam on approach for Nevatim AB from Ramstein AFB
GTMO845 US Navy Beech Huron departed Ft. Lauderdale after it's usual JAX stop se
the currency swaps heat up…
Brazil cenbank announces up to $1 bln FX swap intervention for Thursday
Brazil’s central bank said on Wednesday it would sell up to $1 billion in currency swaps on Thursday, extending its recent intervention in the foreign exchange market with the real hovering near its all-time low against the U.S. dollar. The announcement follows two separate interventions by the central bank on Wednesday, one a $1 billion sale of currency swaps and the other a $405 million sale in the spot FX market. The real is one of the worst-performing currencies in the world this year but rallied more than 2% on Wednesday, its biggest daily gain since late January. Earlier this week it had slumped to 5.88 per dollar, close to last year’s record low around 5.97 per dollar and taking its year-to-date decline to around 11%.
The central bank’s intervention on Wednesday, this time taking advantage of a rebound in the currency rather than attempting to slow its decline, suggests a more aggressive approach. Strategists at Citi said the central bank’s action is a key factor behind their near-term bullishness on the real. “The central bank’s recent proactive stance with its interventions … seems to be here to stay in the near term,” they wrote in a note, citing increased nervousness over inflation. “This adds another layer of support for the real.” The central bank is widely expected to raise interest rates next week for the first time in five years, which should also lend some support to the real, analysts say. So far this year, the central bank has sold $5.58 billion in the spot FX market and $6 billion in the FX swaps market, according to brokerage Commcor DTVM.
https://www.reuters.com/article/brazil-forex-intervention/brazil-cenbank-announces-up-to-1-bln-fx-swap-intervention-for-thursday-idUSL1N2L83AN
China approves $1.5 billion currency swap with Sri Lanka: Minister
China has approved a 10 billion yuan ($1.54 billion) currency swap with Sri Lanka, a minister told local media on Wednesday. The deal will allow the island to weather "present difficulties", State Minister of Money & Capital Market and State Enterprise Reforms Ajith Nivard Cabraal said in an interview with the Daily Mirror, in apparent reference to dwindling foreign exchange reserves.
https://economictimes.indiatimes.com/news/international/business/china-approves-1-5-billion-currency-swap-with-sri-lanka-minister/articleshow/81434620.cms
from March 9,2021
BSP reviews FX swap lines amid LIBOR transition and replacement
https://mb.com.ph/2021/03/09/bsp-reviews-fx-swap-lines-amid-libor-transition-and-replacement/
from Sunday
>>68348 pb Bank of Israel Speeds Through Foreign-Currency Purchasing Plan
from Mar 1st,2020
S. Korea, Switzerland extend W11tr currency swap deal until 2026
http://www.koreaherald.com/view.php?ud=20210301000141
from March 2020
U.S. Fed establishes currency swaps with 9 central banks
The currency swaps established Thursday are capped at $60 billion for six central banks in Australia, Brazil, Mexico, Singapore, Korea and Sweden. The exchange lines are capped at $30 billion for central banks in Denmark, Norway and New Zealand. Under the swaps, the Fed provides dollars for an equal amount of foreign currency, which it can also use in short-term lending to banks if needed.
https://abcnews.go.com/US/wireStory/federal-reserve-launches-3rd-emergency-lending-program-69679020
chek't
EXEC1F USAF C-32A on final approach for JBA from Palm Springs Int'l depart
SCORE22 US Navy E-2 Hawkeye off NC/VA border and heading back to Pax River
seen doze a few times but not today.
US sanctions Myanmar Gen. Min Aung Hlaing's children
Thursday, March 11
5:20 a.m. China's ambassador to the United Nations has issued comments on the Security Council's presidential statement on Myanmar. "China has participated in the negotiation in a constructive manner," Zhang Jun says. "It is important the Council members speak in one voice," the ambassador adds. "We hope the message of the Council would be conducive to easing the situation in Myanmar." "Now it's time for deescalation. It's time for diplomacy. It's time for dialogue."
3:00 a.m. The U.S. Treasury Department adds two adult children of Myanmar military chief Min Aung Hlaing and six companies they own or control to its sanctions list, according to the department's website. Aung Pyae Sone and Khin Thiri Thet Mon were added to the blacklist. The sanctioned companies include Sky One Construction, film production studio 7th Sense Creation and gym operator EverFit, as well as medical company A&M Mahar, which activist group Justice for Myanmar has accused of offering regulatory approvals and customs clearance for products from foreign pharmaceutical companies. "Today, the United States is taking further actions to respond to the violence enabled by Burma's military leaders, to promote accountability for those responsible for the coup, and to target those who benefit financially from their connections to the military regime," Secretary of State Antony Blinken says in a statement. " The leaders of the coup, and their adult family members, should not be able to continue to derive benefits from the regime as it resorts to violence and tightens its stranglehold on democracy," Blinken says.
1:55 a.m. U.S. President Joe Biden's administration is working on a new set of sanctions to further restrict the Myanmar military's finances, the Financial Times reports, citing U.S. officials and several people briefed on the matter.
https://asia.nikkei.com/Spotlight/Myanmar-Coup/Myanmar-coup-latest-US-sanctions-Gen.-Min-Aung-Hlaing-s-children
Japan marks 10 yrs since earthquake, tsunami as it mourns lives lost
Japan on Thursday somberly marked 10 years since a massive earthquake and tsunami devastated its northeast coast, with the country mourning the more than 15,000 lives lost at memorial services in the hardest-hit areas as well as in Tokyo.
Residents in the severely affected prefectures of Fukushima, Iwate and Miyagi will observe a moment of silence at 2:46 p.m., exactly a decade after the huge quake shook eastern and northeastern Japan, triggering tsunami waves and the world's worst nuclear disaster since the 1986 Chernobyl crisis. Many municipalities in these prefectures will go ahead with ceremonies after canceling or scaling back last year due to the coronavirus outbreak. Altars for people to lay flowers during the day will be set up from the morning at various venues in the region. In Miyagi's Ishinomaki, where more than 3,000 people died, locals took a moment from their daily schedules on Thursday to remember their loved ones. At a downsized state-sponsored ceremony at the National Theatre in the Japanese capital, Prime Minister Yoshihide Suga and guests will also observe a moment of silence at 2:46 p.m.
The ceremony was canceled last year due to the outbreak of the novel coronavirus, and with Tokyo currently under an extended state of emergency, the public will not be allowed to offer flowers at the venue as part of measures to prevent the spread of the virus. Emperor Naruhito and his wife Empress Masako are scheduled to attend in the afternoon, when the emperor is expected to give his remarks. The government has also said the event will be the last in its current incarnation, with future memorial events depending on the situation at the time. During a visit to Fukushima Prefecture last Saturday, Suga pledged to step up reconstruction in the devastated areas. The government last year approved a bill to extend the life of the Reconstruction Agency, established to oversee rebuilding efforts, until 2031, a decade longer than initially planned.
More than 30 trillion yen ($277 billion) has been spent for reconstruction projects in the past decade.
https://mainichi.jp/english/articles/20210311/p2g/00m/0na/025000c