Author: News Room

Russia’s intense attacks across the front line have been costly, with the number of casualties per day reaching a new peak this month, according to new intelligence.The assessment attributes the elevated casualty rate to Russia’s brutal ongoing offensive, noting that Russia’s ability to replenish its units is stretched thin due to its consistent losses.According to Friday’s intel from the UK Ministry of Defense, the average number of Russian personnel casualties was over 1,200 a day in May, the highest number reported since the war began. The ministry also said the total number of killed or wounded Russian soldiers since the…

Ukraine is facing off against Russia’s formidable Black Sea Fleet. How are Ukraine’s cheap unmanned sea drones and Western missiles taking down Russian warships worth hundreds of millions of dollars? This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in.

Investing.com — Bets on the Bank of Canada pivoting to rate cuts next week received a major boost as data showing a significant dent to the economy and inflation suggests that higher rates are no longer needed. “All ducks appear to be in a row for the Bank of Canada to kick-start the policy easing cycle and lower the overnight rate by 25 basis points to 4.75% on Wednesday,” RBC said in Friday note. Money markets are now pricing in an 80% chance the BoC will move cut rates on Jun. 5, according to data from LSEG. The increased bets…

By David Shepardson WASHINGTON (Reuters) – Transportation Secretary Pete Buttigieg on Friday said major U.S. airlines had declined to commit to boosting travel benefits for military personnel, the latest clash between the Biden administration and the air carriers. Buttigieg in April had urged airlines to do more for military personnel and vowed to publicize the issue on a dashboard but he said major carriers including Delta Air Lines (NYSE:), American Airlines (NASDAQ:) and United Airlines have declined to “make clear and enforceable commitments to U.S. service members and their families.” Airlines, who employ a large number of military veterans, insist…

A bevy of celebrity-backed meme coins has captured the crypto zeitgeist recently, but experts say they may be courting bigger legal risks compared to past enforcement actions. The U.S. Securities and Exchange Commission (SEC) has targeted celebrities for promoting cryptocurrencies on social media before—a list that notably includes Kim Kardashian, the celebrity entrepreneur and step-daughter to Caitlyn Jenner. And Jenner this week launched meme coins on Solana and Ethereum bearing the Olympic gold medalist’s name. To the extent that Jenner’s meme coins are unregistered securities, she could face greater legal consequences compared to Kardashian, attorneys specializing in securities laws told…

A former vice chief of naval operations was arrested Friday for allegedly steering government contracts towards a company in exchange for a lucrative job offer while commanding US naval forces in Europe and Africa and the Allied Joint Forces Command. Robert Burke, a retired four-star Admiral, and the company’s co-CEOs Yongchul “Charlie” Kim and Meghan Messenger are facing bribery and conspiracy charges, according to the Justice Department. Burke is also charged with performing acts affecting a personal financial interest and concealing material facts from the United States. If convicted, Burke faces a maximum penalty of 30 years in prison, and Kim…

On Wednesday, May 29th, LALIGA announced a new partnership with McDonald’s USA to help bring greater soccer opportunities to Hispanic and Latino communities across the U.S. Together the Spanish professional soccer league and the American fast-food chain are offering free week-long soccer camps to youth soccer players across the country. Twelve lucky participants will even be offered a trip to Spain to train and watch a LALIGA game. According to LALIGA, “This collaboration marks a significant step in bridging the accessibility gap by offering a platform for talent development to the next generation of Latino and Hispanic youth soccer players,…

A retired top US Navy admiral who briefly served as the second highest-ranking Navy officer was arrested Friday on federal charges related to a bribery scheme.The US Department of Justice alleged that from 2020 to 2022, then-Adm. Robert Burke accepted bribes to help a training firm win certain contracts while he was commanding US Naval Forces Europe and Africa in exchange for a high-paying job as soon as he retired.The indictment said that Burke, a former four-star, used “his official position to influence other Navy officers to award another contract to Company A to train a large portion of the…

OpenAI CEO Sam Altman has been hit with a bout of bad press in the past few weeks, which has cast a shadow over his once-squeaky-clean image.  Amid these swirling dramas, legendary tech investor Paul Graham defended Altman by putting an old rumor to rest. Altman wasn’t fired from his post as president of the famed startup accelerator, Y Combinator, Graham wrote in a post on X on Thursday. Graham cofounded the accelerator in 2005, and Altman served as its president from 2014 to 2019. According to Graham, Altman was simultaneously running OpenAI and Y Combinator until OpenAI announced the creation of…

(Reuters) – Pakistan’s Planning Ministry said on Friday that the economic outlook for the next year was positive, with a growth target of 3.6%, while inflation was likely to moderate to 12%. Pakistan will present its annual budget on June 10, three days later than expected, two government sources said on Friday, as markets wait for details of plans seen as crucial to securing a new International Monetary Fund (IMF) loan. Pakistan’s fiscal year starts on July 1. “The growth prospects hinge upon political stability, exchange rate, macroeconomic stabilization under IMF’s programme and expected fall in global oil and commodity…