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On August 29th, NBC News, citing two sources familiar with the matter, reported that US Defense Secretary Peter Hegseth has been discussing the possibility of running for president in 2028 with close associates in recent months. Hegseth and his wife believe he shares some similarities with Trump, including a tough, confrontational style and conservative stances on social issues, which could garner support from the MAGA base. This month, Hegseth also traveled to Iowa to campaign for Republican lawmakers. Iowa has long been a key outpost in US presidential elections, further fueling speculation that he is preparing to run. If he does run, Hegseth could compete with Vice President JD Vance, Secretary of State Rubio, and others. However, a Pentagon spokesperson denied the claims, stating that "Secretary Hegseth will not run for president," and that his primary focus remains leading the Department of Defense. The report points out that the ongoing war with Iran could be a major political burden for Hegseth, with 18 US military personnel already killed and the average US gasoline price rising from less than $3 per gallon to slightly over $4.On August 29th, Allianz Chief Economic Advisor Mohamed El-Erian stated that todays changes in the US Treasury yield curve released two signals. The spread between the 2-year and 10-year yields narrowed by approximately 7 basis points, and the spread between the 2-year and 30-year yields narrowed by approximately 10 basis points, showing a flattening trend. El-Erian believes this reflects a dual interpretation in the fixed-income market: in the short term, it represents a hawkish repricing following Federal Reserve Chairman Warshs firm commitment to the inflation target; in the long term, it reflects recognition of the Federal Reserves long-term credibility.According to NBC News, U.S. Defense Secretary Hergsays is considering running for president in 2028.On August 29th, Deutsche Bank economists predicted that the Federal Reserve would raise interest rates by 25 basis points each in September and December. Fed Chairman Warsh, in his Jackson Hole speech, emphasized the need to bring inflation back to the 2% target and released a clearly hawkish signal. Deutsche Bank believes that unless future economic data is "significantly weaker than expected," the threshold for avoiding a 25 basis point rate hike in September is already very high. The market has also quickly increased its bets on rate hikes: CME data shows that the probability of a cumulative rate hike of 50 basis points or more by December has risen to 51%, up from only 29% the previous day; the probability of a cumulative rate hike of 25 basis points is 38%, and the probability of keeping rates unchanged is only 11%. Following Warshs speech, market bets on a September rate hike have also clearly intensified.US President Trump criticized New York Governor Hoher for "taking Canadas side," refusing to use the name "American Lake," and "preferring Canada to win," while also supporting Blackman as the next governor of New York.

Cruise Lines Will Contest A U.S. Court's Huge Award For A Havana Dock

Aria Thomas

Jan 04, 2023 11:22

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Carnival (NYSE:CCL) Corp and Royal Caribbean (NYSE:RCL) Cruises stated on Tuesday that they will appeal a U.S. court verdict ordering them and two other cruise operators to pay $110 million in penalties for usage of a port seized by the Cuban government in 1960.


U.S. District Judge Beth Bloom ruled last week in Miami to award $440 million to the plaintiff, Delaware-registered Havana Docks Corp; registered to two U.S. residents claiming to be descendants of the original proprietors of the Havana Cruise Port Terminal.


It followed Bloom's March finding that the port's use constituted trafficking in seized Havana Docks Corp. property. The ruling represented a turning point for Cuban-Americans seeking restitution for confiscated property during the Cold War.


The judgment against Carnival granted the plaintiff $109,671,180.90 in damages, whilst the rulings against Norwegian, Royal Caribbean, and MSC, the most recent of which was released on Tuesday, each awarded the plaintiff $109,848,747.87 in damages.


Royal Caribbean confirmed to Reuters that it "disagrees with the verdict and expects to appeal." Carnival claimed that it strongly disagreed with the verdict, that it would appeal, and that it had participated in "legal travel."


Norwegian Cruise Line (NYSE:NCLH) declined to comment, and MSC Cruises did not provide a response to a request for comment.


Under the Helms-Burton Act, which authorizes U.S. residents to sue over the use of property taken in Cuba after 1959, Havana Docks filed action against the cruise lines.


"This is an extraordinarily significant ruling by Judge Bloom. According to Roberto Martinez, counsel for Havana Docks, the commercial use of confiscated property in Cuba in contravention of U.S. law bears clear, well-defined, and extensively published legal penalties.


"The incontrovertible data revealed that the cruise lines profited over $1.2 billion from their trips that exploited the stolen facility, but did not compensate Havana Docks Corp or the Cuban people," he stated.


The decisions could spark future lawsuits by Cuban exiles seeking compensation for confiscations of property by the late Cuban leader Fidel Castro, believed to be worth $2 billion.

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