“This is empty right now,” Mr. Pomeroy said, smoothly steering his white 2014 Ford Explorer (what he calls his “mobile command center”) past a swath of freshly paved asphalt. “But in the summer, and during the event in particular, there’s airplanes parked everywhere up here.”

Much like the activities of the conference, elements of the travel there are shrouded in secrecy. Many jets flying in are registered to obscure owners and limited liability companies, some with only winking references to their passengers. The jet that carried Mr. Kraft last year, for example, is registered under “Airkraft One Trust,” according to records from the Federal Aviation Administration. The plane that Mr. Bezos flew in on is registered to Poplar Glen, a Seattle firm.

Representatives for Mr. Kraft and Mr. Bezos declined to comment. Mr. Bezos is not expected to turn up at Sun Valley this year, according to an advance list of guests that was obtained by The New York Times.

Mr. Pomeroy plans well in advance to deal with the intense air traffic generated by the conference, which he refers to obliquely as “the annual fly-in event.” Without proper organization, flocks of private jets could stack up in the airspace around Friedman, creating delays and diversions while pilots burn precious fuel.

That was the case for the 2016 conference, which coincided with Mr. Pomeroy’s first week on the job. That year, some aircraft circled overhead or sat on the tarmac for more than an hour and a half, waiting for the airspace and runway to clear.

“I saw airplanes literally lined up to take off from the north end of the field almost all the way down to the south end of the field,” Mr. Pomeroy said, referring to the 7,550-foot runway. “Tail to nose, all the way up the taxiway.”

After that episode, Mr. Pomeroy enlisted Greg Dyer, a former district manager at the F.A.A., to help unclutter the tarmac. The two coordinated with an F.A.A. hub in Salt Lake City to line up flights, sometimes 300 to 500 miles outside Sun Valley. For some flights, the staging begins before the planes take off.

“Before, it looked like an attack — it was just airplanes coming from all points of the compass, all trying to get here at the same time,” said Mr. Dyer, an airport consultant for Jviation-Woolpert.

Last year, delays were kept to a maximum of 20 minutes, and no commercial travelers missed connecting flights because of air traffic caused by the conference, Mr. Pomeroy said.

When moguls are forced to circle in the air, they often loiter in great style. Buyers willing to shell out tens of millions for a high-end private plane are unlikely to balk at an additional $650,000 to outfit the aircraft with Wi-Fi, said Lee Mindel, one of the founders of SheltonMindel, an architectural firm that has designed the interiors of Gulfstream and Bombardier private jets. Some owners, he said, have opted for bespoke flatware from Muriel Grateau in Paris, V’Soske rugs or other luxe features.

“If you have to ask what it costs, you really can’t afford to do it,” Mr. Mindel said.

During the pandemic, when commercial travel slowed because of restrictions, corporate jaunts increased among a subset of executives who didn’t want to be held back, said David Yermack, a professor at New York University’s Stern School of Business. He added that it might be cheaper in the long run to compensate chief executives with jet travel than pay them with cash.

“I think it was Napoleon who said, ‘When I realized people would lay down their lives for little pieces of colored ribbon, I knew I could conquer the world,’” Mr. Yermack said.

The glut of flights certainly raises practical concerns. The residents of Hailey, as well as nearby Ketchum and Sun Valley, have complained in the past about the noise created by the jets zooming into Friedman Memorial Airport.

To deal with the complaints, Mr. Pomeroy and the Friedman Memorial Airport Authority curtailed flights between 11 p.m. and 7 a.m. and limited the number of takeoffs and landings from the north, over the little city of Hailey.

Before the conference, Mr. Pomeroy sends a letter to incoming pilots about what to expect, admonishing them to keep the noise to a minimum.

“While the overwhelming majority of users during this event are respectful of our program and community, only a few operators who blatantly disregard our program, or who are negligent in educating themselves about our program, leave a negative impression on all of us,” Mr. Pomeroy wrote this year.

Allen & Company’s stinginess about some conference details extends to the airport. But Mr. Pomeroy and his team get enough information to conclude when the moguls will arrive and are about to leave town.

When the schmoozing is over next week, Mr. Pomeroy will begin the arduous task of ushering the corporate titans out of Idaho. Often that means closing the airport briefly to arrivals while they hustle out departures for an hour.

As the last jets get ready to leave, Mr. Pomeroy said, he and his team breathe a sigh of relief.

“Afterward, I am ready to hit the river for some serious fly-fishing for a day or two,” he said.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Netflix Says It’s Business as Usual. Is That Good Enough?

While being honored at the Banff Film Festival in Canada in early June, Bela Bajaria, Netflix’s head of global television, surprised some with what she didn’t say. Despite the recent turmoil at the streaming giant — including a loss of subscribers, hundreds of job cuts and a precipitous stock drop — she said Netflix was charging ahead, with no significant plans to change its programming efforts.

“For me, looking at it, the business works,” Ms. Bajaria said from the stage. “We are not doing some radical shift in our business. We’re not merging. We’re not having a big transitional phase.”

Two weeks later, after Netflix had laid off another 300 people, Reed Hastings, the company’s co-chief executive, doubled down on Ms. Bajaria’s message, reassuring the remaining employees that the future would, in fact, be bright and that in the next 18 months the company would hire 1,500 people.

“Spiderhead” and the series “God’s Favorite Idiot” have been critically derided.) A producer who works with Netflix said the word “quality” was being bandied about much more often in development meetings.

Emily Feingold, a Netflix spokeswoman, disputed the idea that focusing on a show’s quality was somehow a change in strategy, referring to such disparate content as “Squid Game,” the reality television show “Too Hot to Handle,” and movies like “Red Notice” and “The Adam Project.”

“Consumers have very different, diverse tastes,” Ms. Feingold said. “It’s why we invest in such a broad range of stories, always aspiring to make the best version of that title irrespective of the genre. Variety and quality are key to our ongoing success.”

The producer Todd Black said that the process for getting a project into development at Netflix had slowed down but that otherwise it was business as usual.

“They are looking at everything, which I get,” said Mr. Black, who last worked with Netflix when he produced “Ma Rainey’s Black Bottom” in 2020. “They are trying to course correct. We have to be patient and let them do that. But they are open for business. They are buying things.”

Indeed, the company still intends to spend some $17 billion on content this year. It paid $50 million last month for a thriller starring Emily Blunt and directed by David Yates (“Harry Potter and the Deathly Hallows”). And it plans to make “The Electric State,” a $200 million film directed by Joe and Anthony Russo (“Avengers: Endgame” and “The Gray Man”) and starring Millie Bobby Brown and Chris Pratt, after Universal Pictures balked at the price tag. The company also just announced a development deal for a television adaptation of “East of Eden” starring Florence Pugh.

On Tuesday, Whip Media, a research firm, said Netflix had fallen from second to fourth place in the firm’s annual streaming customer satisfaction survey, behind HBO Max, Disney+ and Hulu.

The most significant change coming for Netflix is its advertising tier, which, as it has told employees, it wants to roll out by the end of the year. Netflix’s foray into advertising stoked excitement among media buyers at the industry’s annual conference in Cannes last week.

“It was pretty intense,” said Dave Morgan, who is the chief executive of Simulmedia, a company that works with advertisers, and who attended the conference. “It was one of the top two or three issues everyone was talking about.”

Mr. Hastings said Netflix would work with an outside company to help get its nascent advertising business underway. The Wall Street Journal reported that Google and Comcast were the front-runners to be that partner. Still, advertising executives believe that building out the business at Netflix could take time, and that the company might be able to introduce the new tier only in a handful of international markets by the end of the year.

It could take even longer for advertising to become a significant revenue stream for the company.

“You have a lot of media companies duking it out, and it’ll take quite a while to compete with those companies,” Mr. Morgan said. “I could imagine it will take three or four years to even be a top 10 video ad company.”

In an analyst report this month, Wells Fargo threw cold water on the notion that subscriber growth for an ad-supported tier would be quick. Wells Fargo analysts cautioned that the ad model would offer “modest” financial gains in the next two years because of a natural cannibalization from the higher-paying subscriber base. They predicted that by the end of 2025 nearly a third of the subscriber base would pay for the cheaper ad-supported model, roughly 100 million users.

Bank of America went further last week. “Ad-tiering could serve as a way for consumers across all income brackets to extend their streaming budget by trading down to subscribe to an additional service, benefiting Netflix’s competitors much more than Netflix itself,” it said in an analyst letter.

Netflix has also reached out to the studios that it buys TV shows and movies from in recent weeks, seeking permission to show advertising on licensed content. In negotiations with Paramount Global, Netflix has mentioned paying money on top of its existing licensing fee rather than cutting the company in on revenue from future ad sales, said a person familiar with the matter who spoke on the condition of anonymity to discuss active talks.

This mirrors the approach Netflix took with studios when it introduced its “download for you” feature, which allowed users to save movies and TV shows to their devices to watch offline. When Netflix added that feature, executives at the streaming service agreed to pay studios a fee in addition to their licensing agreement.

In the end, though, Netflix’s success will most likely come down to how well it spends its $17 billion content budget.

“Netflix, dollar for dollar, needs to do better, and that falls on Ted Sarandos and his whole team,” Mr. Greenfield said, referring to the company’s co-chief executive. “They haven’t done a good enough job. Yet, they are still, by far, the leader.”

Benjamin Mullin contributed reporting.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Ryanair says less than 2% of flights affected by strike

>>> Don’t Miss Today’s BEST Amazon Deals!<<<<

A Ryanair plane prepares to take off from Lisbon Humberto Delgado Airport on the first of three days cabin crew strike in Lisbon, Portugal, June 24, 2022. REUTERS/Pedro Nunes/File Photo

Register now for FREE unlimited access to Reuters.com

DUBLIN, June 26 (Reuters) – Less than 2% of Ryanair (RYA.I) flights scheduled between Friday and Sunday were affected by cabin crew strikes, the Irish low-cost carrier said.

Ryanair (RYA.I) cabin crew unions in Belgium, Spain, Portugal, France and Italy had announced plans for action over the weekend with crews in Spain set to strike again on June 30 and July 1-2. read more

“Less than 2% of Ryanair’s 9,000 flights operating this weekend (24/25/26 June) have been affected by minor and poorly supported crew strikes,” Ryanair said in a statement.

Unions have said the Irish airline does not respect local labour laws covering issues such as the minimum wage and have urged management to improve working conditions. read more

Ryanair, which told Reuters last week it had negotiated labour agreements covering 90% of its staff across Europe, says it offers staff competitive and fair conditions. It has said it does not expect widespread disruption this summer.

Register now for FREE unlimited access to Reuters.com

Writing by Conor Humphries. Editing by Jane Merriman

Our Standards: The Thomson Reuters Trust Principles.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Ukraine News: Mariupol’s Mayor Describes Grim Russian Rule

Credit…Clemens Bilan/EPA, via Shutterstock

BRUSSELS — European leaders meeting in Brussels this week were eager to focus on granting Ukraine E.U. candidate status, but have also had to address a pressing problem linked to the war: Russia has slowly been turning off the gas tap.

The tapering of gas to Germany in recent days has forced the country, Europe’s economic engine, to escalate its energy emergency protocol and urge Germans to save power. The next step is rationing.

E.U. leaders on Friday asked the European Commission, the bloc’s executive branch, to come up with policy proposals to collectively handle the possibility that Russia, using Europe’s enduring dependence on its gas supplies to inflict pain on Ukraine’s supporters, could further reduce the gas flow or even cut off countries completely.

“We have seen the pattern not only of that last weeks and months, but looking back in hindsight, also the pattern of last year, when you look at Gazprom filling the storage — or I should say not filling the storage, because last year they were at a 10 years low,” the commission’s president, Ursula von der Leyen, said on Friday.

“Now it’s 12 member states that have either been totally cut off or partially,” she added.

Ms. von der Leyen said she would ask her experts to propose an emergency plan to tackle possible shortages going into the winter. The commission has already promoted joint purchasing and storing of gas by E.U. members as a safety measure, should one nation get disconnected. After gas supplies were cut off to Bulgaria, for example, Greece stepped up to help supply its neighbor and fellow E.U. member.

But if Russia decides to hurt Europe for its support of Ukraine by further slashing supplies from its energy giant, Gazprom, it is far from clear that such ad hoc solidarity would work in the winter, when the bloc’s energy demands are much higher.

The E.U. has imposed sanctions on Russian fossil fuels, including a broad ban on Russian oil imports that will come into effect at the end of the year. But it has not been able to do the same with Russian gas, on which it is hugely reliant, because it has not yet lined up sufficient alternatives. Gas prices, meanwhile, have surged, costing European buyers dearly and softening the effect of the sanctions on Russia.

And whatever solutions European leaders devise for the growing problem would take effect in months. For now, member states have to tackle possible shortages largely on their own.

Ms. von der Leyen said that she had been asked to present her proposals at the next E.U. leaders’ summit in October, and that she expected her staff to finish drafting them in September.

In the meantime, she urged people to use less power.

“We should not only replace the gas, but also always take the opportunity of the energy savings. I cannot emphasize that enough,” she said, adding that Europeans could save greatly if they turned down their air-conditioners in the summer and their heaters as the temperature drops.

Gas is not the only urgent question facing world leaders. Diplomats also gathered in Berlin on Friday, ahead of a G-7 summit in Germany on Sunday, to discuss the growing global food crisis set off by the inability of Ukraine to export its grain. Earlier this week, the United Nations said that the war had pushed tens of millions of people into food insecurity.

Germany’s foreign minister, Annalena Baerbock, welcomed Secretary of State Antony Blinken; Italy’s foreign minister, Luigi di Maio; and other officials to discuss possible solutions.

Before the war, Ukraine exported millions of metric tons of grain monthly, mostly via seaports that are now blockaded. Officials weighed the possibility of moving the grain by land, a far slower and more complicated endeavor.

Speaking to reporters after the meeting, Mr. Blinken said that while the food crisis would continue for some time, it was important to not let Russia get away with violating fundamental human rights of the Ukrainian people.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Dutch Government Activates ‘Early Warning’ Because of Russian Cutbacks on Gas

The Dutch government said on Monday that Russia’s tightening of gas supplies to Europe had prompted it to declare an “early warning” stage of a natural gas crisis, a move that will allow more electric power to be generated by burning coal.

Russia’s actions in recent days — chiefly the reduction of flows by about 60 percent through the Nord Stream 1 pipeline to Germany — have markedly darkened the mood in Europe on energy. Governments and industry in Europe are now convinced that Moscow plans to use gas as a political weapon against the largest European economies in the coming months. This means that major European nations, not just a handful like Bulgaria and Poland, are likely to see gas supplies trimmed or cut completely and need to take steps to reduce their vulnerability.

Already gas flows have been cut not only to Germany but to other countries, including Italy and France, analysts and government officials say. The Dutch government said there were as yet “no acute gas shortages” in the Netherlands but that declining supplies “could have consequences.”

the German government took similar steps with regard to coal, and Austria said it would allow the conversion of a gas-fired power plant to coal.

Groningen gas field, a major provider in the north of the country that officials have scheduled to close because of earthquakes triggered by the extraction of the fuel. The government appears to be trying to keep its options open on Groningen, which is operated by a joint venture owned by Shell and Exxon Mobil.

The government said in its statement that it had decided not to shut “any wells definitively this year” because of what it called “uncertain geopolitical developments.”

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Why a Rhodes Scholar’s Ambition Led Her to a Job at Starbucks

Most weekend mornings, Jaz Brisack gets up around 5, wills her semiconscious body into a Toyota Prius and winds her way through Buffalo, to the Starbucks on Elmwood Avenue. After a supervisor unlocks the door, she clocks in, checks herself for Covid symptoms and helps get the store ready for customers.

“I’m almost always on bar if I open,” said Ms. Brisack, who has a thrift-store aesthetic and long reddish-brown hair that she parts down the middle. “I like steaming milk, pouring lattes.”

The Starbucks door is not the only one that has been opened for her. As a University of Mississippi senior in 2018, Ms. Brisack was one of 32 Americans who won Rhodes scholarships, which fund study in Oxford, England.

in public support for unions, which last year reached its highest point since the mid-1960s, and a growing consensus among center-left experts that rising union membership could move millions of workers into the middle class.

white-collar workers has coincided with a broader enthusiasm for the labor movement.

In talking with Ms. Brisack and her fellow Rhodes scholars, it became clear that the change had even reached that rarefied group. The American Rhodes scholars I encountered from a generation earlier typically said that, while at Oxford, they had been middle-of-the-road types who believed in a modest role for government. They did not spend much time thinking about unions as students, and what they did think was likely to be skeptical.

“I was a child of the 1980s and 1990s, steeped in the centrist politics of the era,” wrote Jake Sullivan, a 1998 Rhodes scholar who is President Biden’s national security adviser and was a top aide to Hillary Clinton.

By contrast, many of Ms. Brisack’s Rhodes classmates express reservations about the market-oriented policies of the ’80s and ’90s and strong support for unions. Several told me that they were enthusiastic about Senators Bernie Sanders and Elizabeth Warren, who made reviving the labor movement a priority of their 2020 presidential campaigns.

Even more so than other indicators, such a shift could foretell a comeback for unions, whose membership in the United States stands at its lowest percentage in roughly a century. That’s because the kinds of people who win prestigious scholarships are the kinds who later hold positions of power — who make decisions about whether to fight unions or negotiate with them, about whether the law should make it easier or harder for workers to organize.

As the recent union campaigns at companies like Starbucks, Amazon and Apple show, the terms of the fight are still largely set by corporate leaders. If these people are increasingly sympathetic to labor, then some of the key obstacles to unions may be dissolving.

suggested in April. The company has identified Ms. Brisack as one of these interlopers, noting that she draws a salary from Workers United. (Mr. Bonadonna said she was the only Starbucks employee on the union’s payroll.)

point out flaws — understaffing, insufficient training, low seniority pay, all of which they want to improve — they embrace Starbucks and its distinctive culture.

They talk up their sense of camaraderie and community — many count regular customers among their friends — and delight in their coffee expertise. On mornings when Ms. Brisack’s store isn’t busy, employees often hold tastings.

A Starbucks spokesman said that Mr. Schultz believes employees don’t need a union if they have faith in him and his motives, and the company has said that seniority-based pay increases will take effect this summer.

onetime auto plant. The National Labor Relations Board was counting ballots for an election at a Starbucks in Mesa, Ariz. — the first real test of whether the campaign was taking root nationally, and not just in a union stronghold like New York. The room was tense as the first results trickled in.

“Can you feel my heart beating?” Ms. Moore asked her colleagues.

win in a rout — the final count was 25 to 3. Everyone turned slightly punchy, as if they had all suddenly entered a dream world where unions were far more popular than they had ever imagined. One of the lawyers let out an expletive before musing, “Whoever organized down there …”

union campaign he was involved with at a nearby Nissan plant. It did not go well. The union accused the company of running a racially divisive campaign, and Ms. Brisack was disillusioned by the loss.

“Nissan never paid a consequence for what it did,” she said. (In response to charges of “scare tactics,” the company said at the time that it had sought to provide information to workers and clear up misperceptions.)

Mr. Dolan noticed that she was becoming jaded about mainstream politics. “There were times between her sophomore and junior year when I’d steer her toward something and she’d say, ‘Oh, they’re way too conservative.’ I’d send her a New York Times article and she’d say, ‘Neoliberalism is dead.’”

In England, where she arrived during the fall of 2019 at age 22, Ms. Brisack was a regular at a “solidarity” film club that screened movies about labor struggles worldwide, and wore a sweatshirt that featured a head shot of Karl Marx. She liberally reinterpreted the term “black tie” at an annual Rhodes dinner, wearing a black dress-coat over a black antifa T-shirt.

climate technology start-up, lamented that workers had too little leverage. “Labor unions may be the most effective way of implementing change going forward for a lot of people, including myself,” he told me. “I might find myself in labor organizing work.”

This is not what talking to Rhodes scholars used to sound like. At least not in my experience.

I was a Rhodes scholar in 1998, when centrist politicians like Bill Clinton and Tony Blair were ascendant, and before “neoliberalism” became such a dirty word. Though we were dimly aware of a time, decades earlier, when radicalism and pro-labor views were more common among American elites — and when, not coincidentally, the U.S. labor movement was much more powerful — those views were far less in evidence by the time I got to Oxford.

Some of my classmates were interested in issues like race and poverty, as they reminded me in interviews for this article. A few had nuanced views of labor — they had worked a blue-collar job, or had parents who belonged to a union, or had studied their Marx. Still, most of my classmates would have regarded people who talked at length about unions and class the way they would have regarded religious fundamentalists: probably earnest but slightly preachy, and clearly stuck in the past.

Kris Abrams, one of the few U.S. Rhodes Scholars in our cohort who thought a lot about the working class and labor organizing, told me recently that she felt isolated at Oxford, at least among other Americans. “Honestly, I didn’t feel like there was much room for discussion,” Ms. Abrams said.

typically minor and long in coming.

has issued complaints finding merit in such accusations. Yet the union continues to win elections — over 80 percent of the more than 175 votes in which the board has declared a winner. (Starbucks denies that it has broken the law, and a federal judge recently rejected a request to reinstate pro-union workers whom the labor board said Starbucks had forced out illegally.)

Twitter was: “We appreciate TIME magazine’s coverage of our union campaign. TIME should make sure they’re giving the same union rights and protections that we’re fighting for to the amazing journalists, photographers, and staff who make this coverage possible!”

The tweet reminded me of a story that Mr. Dolan, her scholarship adviser, had told about a reception that the University of Mississippi held in her honor in 2018. Ms. Brisack had just won a Truman scholarship, another prestigious award. She took the opportunity to urge the university’s chancellor to remove a Confederate monument from campus. The chancellor looked pained, according to several attendees.

“My boss was like, ‘Wow, you couldn’t have talked her out of doing that?’” Mr. Dolan said. “I was like, ‘That’s what made her win. If she wasn’t that person, you all wouldn’t have a Truman now.’”

(Mr. Dolan’s boss at the time did not recall this conversation, and the former chancellor did not recall any drama at the event.)

The challenge for Ms. Brisack and her colleagues is that while younger people, even younger elites, are increasingly pro-union, the shift has not yet reached many of the country’s most powerful leaders. Or, more to the point, the shift has not yet reached Mr. Schultz, the 68-year-old now in his third tour as Starbucks’s chief executive.

She recently spoke at an Aspen Institute panel on workers’ rights. She has even mused about using her Rhodes connections to make a personal appeal to Mr. Schultz, something that Mr. Bensinger has pooh-poohed but that other organizers believe she just may pull off.

“Richard has been making fun of me for thinking of asking one of the Rhodes people to broker a meeting with Howard Schultz,” Ms. Brisack said in February.

“I’m sure if you met Howard Schultz, he’d be like, ‘She’s so nice,’” responded Ms. Moore, her co-worker. “He’d be like, ‘I get it. I would want to be in a union with you, too.’”

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Bitcoin Plummets Below $20,000 for First Time Since Late 2020

Square, another payments company, bought $50 million of Bitcoin and changed its name to Block, in part to signify its work with blockchain technology. Tesla bought $1.5 billion of it. The venture capital firm Andreessen Horowitz raised $4.5 billion for a fourth cryptocurrency-focused fund, doubling its previous one.

Excitement hit a peak in April last year when Coinbase, a cryptocurrency exchange, went public at an $85 billion valuation, a coming-out party for the industry. Bitcoin topped $60,000 for the first time.

Last summer, El Salvador announced that it would become the first country to classify Bitcoin as legal tender, alongside the U.S. dollar. The country’s president updated his Twitter profile picture to include laser eyes, a calling card of Bitcoin believers. The value of El Salvador’s $105 million investment in Bitcoin has been slashed in half as the price has fallen.

Senators and mayors around the United States began touting cryptocurrency, as the industry spent heavily on lobbying. Mayor Eric Adams of New York, who was elected in November, said he would take his first three paychecks in Bitcoin. Senators Cynthia Lummis, Republican of Wyoming, and Kirsten Gillibrand, Democrat of New York, proposed legislation that would create a regulatory framework for the industry, giving more authority to the Commodity Futures Trading Commission, an agency that crypto companies have openly courted.

Through the frenzy, celebrities fueled the fear of missing out, flogging their NFTs on talk shows and talking up blockchain projects on social media. This year, the Super Bowl featured four ads for crypto companies, including Matt Damon warning viewers that “fortune favors the brave.”

That swaggering optimism faltered this spring as the stock market plummeted, inflation soared and layoffs hit the tech sector. Investors began losing confidence in their crypto investments, moving money to less risky assets. Several high-profile projects crashed amid withdrawals. TerraForm Labs, which created TerraUSD, a so-called stablecoin, and Celsius, an experimental crypto bank, both collapsed, wiping out billions in value and sending the broader market into a tailspin.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

L.A. Advocates March Against Criminalization of the Homeless: ‘Sweepless Summer 2022’

LOS ANGELES–(BUSINESS WIRE)–Advocates from Housing Is A Human Right (HHR), the housing advocacy division of AHF, will take part in “Sweepless Summer 2022,” (LA March Against Criminalization of the Homeless Friday, June 17th starting at 10:00 a.m. from historic Olvera Street across from Union Station in Downtown Los Angeles (845 Alameda St, 90012). The march—which will proceed to the Federal Building (300 N. Los Angeles Street, 90012)—is part of a national action against unjust clearing of encampments in DC and cities across the country and is being held in solidarity with the National Poor People’s Campaign and National Coalition for the Homeless events that will be taking place in Washington, DC this weekend.

What:

MARCH AGAINST CRIMINALIZATION of the HOMELESS and in SOLIDARITY with the National Poor People’s Campaign and National Coalition for the Homeless events taking place in Washington, DC this weekend.

 

 

When:

L.A. March: Friday, June 17, 2022 – starts @ 10:00 a.m. (meet @ Olvera Street)

 

NOTE: March should take approx. ½ to 1 hour from start to finish

 

 

Where:

Starts: Olvera Street (across from Union Station)

 

845 N. Alameda St., Los Angeles 90012

 

Marching to: Los Angeles Federal Building

 

300 N Los Angeles St, Los Angeles, CA 90012

 

March Media Contact for AHF: Eduardo Martinez, Eduardo.martinez@ahf.org 323. 535.8511 c

Housing Is A Human Right will also use the events in Los Angeles and Washington to announce and celebrate its new partnership with National Coalition for the Homeless, which will include co-locating NCH’s West Coast headquarters at HHR’s Hollywood offices, collaboration on projects and strategies to reduce homelessness and increase the supply of permanent housing for the unhoused.

“Housing Is A Human Right is excited to provide a growing presence in Los Angeles for the incredible work of the National Coalition for the Homeless!” said Susie Shannon, Policy Director for Housing Is A Human Right. “Our organizations have collectively fought for the rights of our unhoused community and for permanent housing. Together we will be a formidable force in promoting real solutions to homelessness.”

“National Coalition for the Homeless is excited to open an office in Los Angeles. – the homeless capital of the United States – in partnership with Housing is a Human Right. NCH and HHR have shared goals in ending and preventing homelessness and finding real solutions through a Housing First approach,” stated Don Whitehead, National Executive Director of NCH. “We look forward to expanding our coalition throughout the State of California.”

AHF’s Los Angeles Domestic Advocacy team will provide the hand-made posters, banner, and about a dozen or more mobilizers for the march. Drinking water will be provided for everyone. Some of the signs and slogans will include the following:

For more information on Housing Is A Human Right (HHR), click here, and follow HHR on:

FB: https://www.facebook.com/housinghumanright/ Twitter: https://twitter.com/housinghumanrt

For information on the National Coalition for the Homeless (NCH), click here, and follow NCH on:

FB: https://www.facebook.com/NationalCoalitionfortheHomeless

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Russian gas flows to Europe fall, hindering bid to refill stores

>>> Don’t Miss Today’s BEST Amazon Deals!<<<<

  • Nord Stream 1 pipeline capacity down to 40%
  • Europe’s gas price jumps up to 30% after disruption news
  • Gazprom blames cuts on equipment delays from Canada
  • Freeport LNG terminal in U.S. offline until September

LONDON, June 16 (Reuters) – Russian gas supply to Europe via the Nord Stream 1 pipeline fell further on Thursday and Moscow said more delays in repairs could lead to suspending all flows, putting a brake on Europe’s race to refill its gas inventories.

The faltering flows came as the leaders of Germany, Italy and France visited Ukraine, which is pressing for swifter weapons deliveries to battle invading Russian forces and wants support for Kyiv’s bid to join the European Union. read more

Russia’s state-controlled Gazprom said it was reducing gas supply for a second time in as many days via Nord Stream 1, which runs under the Baltic to Germany. The latest move cuts supply to just 40% of the pipeline’s capacity.

Register now for FREE unlimited access to Reuters.com

Kremlin spokesperson Dmitry Peskov said reductions in supply were not premeditated and related to maintenance issues, a reference to earlier comments saying Russia was unable to secure the return of equipment sent to Canada for repairs. read more

Germany said Russia’s excuse was technically “unfounded” and was instead aimed at driving up gas prices. Italy said Moscow might be use the issue to exert political pressure. read more

Dutch wholesale gas prices , the European benchmark, jumped around 30% on Thursday afternoon.

Russia’s ambassador to the European Union told state news agency RIA Novosti flows via the pipeline could be completely suspended because of problems in repairing turbines in Canada.

Alexey Miller, the chief executive of Gazprom, the state-controlled company with a monopoly on Russian gas exports by pipeline, said Western sanctions made it impossible to secure the return of equipment from Canada for the pipeline’s Portovaya compressor station. read more

EUROPE RACES TO REFILL STORAGE

Nord Stream 1 has capacity to pump about 55 billion cubic metres (bcm) a year to the European Union, which last year imported about 140 bcm of gas from Russia via pipelines.

Germany, like other European countries, is racing to refill its gas storage facilities so they are 80% full by October and 90% by November before winter arrives. Stores are 52% full now.

Cutting flows through Nord Stream 1 would make that job harder, the head of the Germany energy regulator said.

“We could perhaps get through the summer as the heating season is over. But it is imperative that we fill the storage facilities to get through the winter,” Klaus Mueller told Thursday’s edition of Rheinische Post daily.

Uniper (UN01.DE), Germany’s biggest importer of Russian gas, said supplies were down a quarter on agreed volumes but it could fill missing volumes from other sources. Power producer RWE (RWEG.DE) said it had seen restrictions in the past two days.

Slovakia’s state-owned gas importer SPP said it expected Thursday’s Russian gas deliveries to be reduced by about 30%, while Czech power utility CEZ (CEZP.PR) said it had seen a similar fall but was filling the gap from other sources.

The European Union aims to ensure gas storage facilities across the 27-nation bloc are 80% full by November. read more

The latest reduction in supply could mean northwest European storage only 88% full by the end of October – 1 bcm less than planned – instead of 90%, analysts at Goldman Sachs said.

DRAWING UP CONTINGENCY PLANS

Germany is not alone in facing falling supplies.

Austria’s OMV (OMVV.VI) said Gazprom informed it of reduced deliveries, France’s Engie (ENGIE.PA) said flows had down but clients were not affected, while Italy’s Eni (ENI.MI) said it would receive 65% of the volumes it had requested from Gazprom.

The Italian government said all possible measures were in place to deal with the situation if gas supply cuts from Russia continued in coming days. Other European countries have also drawn up contingency plans.

Adding to the challenge, Nord Stream 1 will shut completely during the pipeline’s annual maintenance on July 11-21.

Norway, Europe’s second biggest exporter behind Russia, has been pushing up production to help the European Union towards it target of ending reliance on Russian fossil fuels by 2027.

Britain’s Centrica (CNA.L) signed a deal with Norway’s Equinor (EQNR.OL) for extra gas supplies to the United Kingdom for the next three winters. Britain does not rely on Russian gas and can also export to Europe via pipelines.

European states have also boosted liquefied natural gas (LNG) imports but Europe has limited LNG import capacity and the already tight LNG market has faced additional challenges with disruptions to U.S. LNG production. read more

A fire last week at a U.S. LNG export plant in Texas, operated by Freeport LNG, means the plant will be offline until September and will operate only partially from then until the end of 2022.

The facility, which accounts for about 20% of U.S. LNG exports, has been a major supplier to European buyers.

“There is risk of further delay, in our view,” analysts at investment bank Jefferies said, adding that regulators need to approve the restart while two investigations were ongoing into the cause of the LNG leak at the plant.

Register now for FREE unlimited access to Reuters.com

Reporting by Reuters, Giuseppe Fonte in Rome, Alexandra Schwarz-Goerlich in Vienna, Jan Lopatka in Prague, Madelaine Chambers in Berlin, Nina Chestney in London; Writing by Nina Chestney; Editing by Jason Neely and Edmund Blair

Our Standards: The Thomson Reuters Trust Principles.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

In Ukraine, Some Ethnic Hungarians Feel Ambivalence About the War

TRANSCARPATHIA, Ukraine — Beneath dark clouds unleashing a summer rain, officials in a southwestern Ukrainian border village gathered silently, slowly hanging wreaths on branches to commemorate the destruction of a nation.

The wreaths were not decorated with the yellow and blue of the Ukrainian flag; they were laced, instead, with the red, white and green of Hungary’s. And the nation they honored this month was not their besieged country, but a homeland from their collective history, torn up more than 100 years ago.

Transcarpathia — now a hardscrabble region of Ukraine bordering Hungary — has been home to as many as 150,000 ethnic Hungarians who, through the complex horse-trading, conquests and boundary adjustments of over a century of European geopolitics, ended up within Ukraine’s borders.

war with Russia, the yearnings of Ukraine’s Hungarian minority were mostly brushed off as benign nostalgia for a time when they lived in one nation with other ethnic Hungarians. Now, divided loyalties within the tiny community — which has soaked up Hungary’s ambivalence toward Russia’s invasion — are being seen as something more worrisome by their fellow Ukrainians, some of whom fear they are susceptible to pro-Russia propaganda from Hungary.

Viktor Orban, is able to cause for his neighbors, in this case by playing on ethnic Hungarians’ feelings of discrimination by their government. And it adds another layer of complexity for Ukraine’s leaders as they try to keep their sprawling, multiethnic country united in the face of a brutal Russian invasion, even as they struggle to win allegiance from minorities including ethnic Russians and Hungarians.

tensions have risen as Mr. Orban has increasingly sought to bring ethnic Hungarian enclaves in Ukraine and elsewhere under his sway. Among other things, he has encouraged Hungarians beyond the country’s borders to claim citizenship, which allowed him to win over new voters to keep him in power.

In this poor region of Ukraine, along the Hungarian border, he doled out funding to run schools, churches, businesses and newspapers, winning gratitude — and helping fan resentments. The ceremony for a lost homeland did not exist before Mr. Orban came to power.

The feelings of otherness intensified as Ukraine, under constant threat by Russia, passed a law that mandates more classes be taught in Ukrainian in public schools. The law was mainly meant to rein in the use of the Russian language, but for the conservative Hungarian community where many still learn, and pray, almost exclusively in Hungarian, the law was seen as an unfair infringement on constitutional rights.

tried to block European Union sanctions on Russian energy imports, on which Hungary relies. And he declined to give weapons to Ukraine, or even allow them to be shipped across Hungary’s borders.

That wariness has seeped into the ethnic Hungarian community, fed by Hungarian television channels close to Mr. Orban’s governing party that broadcast into Hungarian-Ukrainian homes along the border. Hungarian broadcasters cast doubt on Ukraine’s position that Russia invaded to steal Ukrainian land, instead sharing Moscow’s perspective that it invaded to protect Russian speakers — a minority with a different language, not unlike the ethnic Hungarians.

“I think this is the main reason for the war, not what Ukraine says,” said Gyula Fodor, a vice rector at the Transcarpathian Hungarian Institute, chatting over traditional plum schnapps after the ceremony for the lost homeland. The institute, a private college, has received Hungarian funding, and Mr. Orban attended its ribbon-cutting.

As the war has dragged on, relations between Mr. Orban and President Volodymyr Zelensky of Ukraine have grown increasingly frosty.

In the border towns, suspicion is in the air. Some ethnic Ukrainians claimed during interviews that in the first days of Russia’s invasion Hungarian priests had urged the faithful to hold out hope that their region would be annexed to Hungary after Kyiv, the capital of Ukraine, fell, though there is no documentary evidence to substantiate those assertions.

In towns with ethnic Hungarian majorities, some people reported being harassed with mysterious text messages in Ukrainian: “Ukraine for Ukrainians. Glory to the nation! Death to enemies!” They said the messages ended with a threat using another word for ethnic Hungarians: “Magyars to the knives.”

Ukrainian intelligence officials publicly claim the texts came from a bot farm in Odesa using Russian software, and labeled it a Russian attempt to destabilize Ukraine, but they did not provide evidence.

Tensions in Transcarpathia erupted publicly after Moscow’s annexation of Crimea in 2014. Right-wing nationalists marched through the streets of Uzhhorod in recent years, sometimes chanting “Magyars to the knife.”

And a Hungarian cultural center in the city of Uzhhorod was set ablaze twice in 2017. In both cases, authorities said the perpetrators had pro-Russian links. Dmytro Tuzhankskyi, the director of the Institute for Central European Strategy in Uzhhorod that promotes Ukraine’s alignment with the West, says he believes Moscow was behind other local provocations. Moscow would like to sow discord between Hungary and Ukraine, he alleged, as a way of causing more trouble for the Western alliance that has lined up against Mr. Putin.

Hungarian and local officials, he worried, could unwittingly fall prey to such designs: “They might think: One more little provocation — it means nothing. That’s a very dangerous mind-set.”

Yet for many ethnic Hungarians, Ukraine is not blameless.

László Zubánics, the leader of the Hungarian Democratic Union of Ukraine, said locals watch Hungarian television partly because no Ukrainian cable channels reach the border areas, something he saw as a form of political neglect. But he acknowledged that ethnic Hungarians often choose to tune into Hungarian, and not Ukrainian, satellite channels.

Many ethnic Hungarians say they are only able to afford to stay in the region of family vineyards and farms because of Hungarian funding. That makes many ethnic Hungarians skeptical of Ukraine’s claims that it wants to help integrate them into society, Mr. Zubánics said: “Most kids and parents say, ‘Why do I need the state language? I don’t see my place here in this country.’”

Although the Soviets repressed and exiled Hungarian nationalists, some ethnic Hungarians have started to look back on Soviet rule as a time of relative cultural freedom as well. It was a time, according to Mr. Zubánics, when Hungarians recall holding prominent official positions, unlike in modern Ukraine.

Nostalgia for Soviet times stirs the ire of local right-wing nationalists such as Vasyl Vovkunovich, once a political ally of Hungarian nationalists in the final days of the Soviet Union. In 2017, he said he led a march of supporters down the streets of Berehove, ripping down Hungarian flags raised over many churches and buildings.

“These Hungarians are not worthy,” he said. “Their ancestors would roll over in their graves if they knew Hungary was siding with Russia.”

For local residents like Zoltan Kazmér, 32, the present feels more complicated. He feels loyal to Ukraine, he said. But it was Hungarian funding that allowed him to turn his family’s century-old winemaking tradition into a business.

“When we go to Hungary, we feel like Ukrainians,” he said. “When we are in Ukraine, we feel like Hungarians.”

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<