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U.S, allies cut some Russian banks off from SWIFT

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Western allies are preparing new sanctions against Russia for its military action in Ukraine, including banishing key Russia banks from the main global payments system – SWIFT.

As Russia continues its assault against Ukraine, Western leaders are hardening their economic resolve against Putin.

The U.S., Canada, Europe and Britain moved on Saturday to block some Russian banks from SWIFT, the main global payments system.

The new measures will be implemented in the coming days, and include restrictions on Russia’s central bank.

The West wants to prevent Putin from accessing $630 billion in foreign currency reserves he could use to finance his war and prop up a plunging rouble.

European Commission President Ursula Von Der Leyen said the measures prevent Russia from using its “war chest.”

”We are resolved to continue imposing massive costs on Russia, costs that will further isolate Russia from the international financial system and our economies… “

”Putin embarked on a path aiming to destroy Ukraine, but what he’s also doing, in fact, is destroying the future of his own country.”

Cutting Russian banks out of the SWIFT system deals a blow to Russian trade and makes it harder for Russian companies to do business.

SWIFT, or the “Society for Worldwide Interbank Financial Telecommunication”, is a secure messaging network that facilitates rapid cross-border payments.

It has become the principal mechanism for financing international trade.

Each year, trillions of dollars are transferred using the system.The allies on Saturday also pledged to limit the sale of citizenship via so-called golden passports used by some wealthy Russians to gain residency in Western nations

From our partner at Reuters – Flora Bradley-Watson reports

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Police accidentally kill worshipper during Manchester terror attack

Manchester police accidentally kill worshipper during terror attack response at synagogue, as two victims die from knife assault

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Manchester police accidentally kill worshipper during terror attack response at synagogue, as two victims die from knife assault

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In Short:
– One victim was accidentally shot by police during a synagogue attack in Manchester on Yom Kippur.
– The assailant, Jihad Al Shamie, used a vehicle and stabbing in the attack, later killed by police.
One of the victims in the recent terror attack at a UK synagogue was accidentally killed by police during efforts to subdue the attacker.
The incident occurred on Yom Kippur outside the Heaton Park Hebrew Congregation Synagogue in Manchester, resulting in the deaths of Adrian Daulby, 53, and Melvin Cravitz, 66.
The assailant, identified as Jihad Al Shamie, a 35-year-old British citizen of Syrian descent, used his vehicle to strike pedestrians before launching a stabbing assault.Authorities revealed that police mistakenly shot one of the victims as they responded to the threat posed by Al Shamie, who was believed to be wearing a fake suicide vest.

Greater Manchester Police chief Stephen Watson noted that the victims were likely attempting to prevent the attacker from entering the synagogue. Reports indicate that a third victim hospitalized also sustained gunshot wounds during the police response.

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Jihad Al Shamie was killed by police approximately seven minutes after he began the attack.

The Home Secretary, Shabana Mahmood, stated that the attacker was not previously known to authorities. Police continue to investigate whether Al Shamie acted alone or as part of a terrorist cell, with three individuals arrested in connection to the incident.

Family Statement

The family of the attacker has publicly condemned the violence, expressing shock and sorrow over the tragic events. They stated their intentions to distance themselves from the actions of Jihad Al Shamie and offered condolences to the victims and their families.


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L.A. entertainment industry struggles amid mass job losses

L.A.’s entertainment industry faces severe crisis as thousands of jobs vanish and creatives struggle to survive

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L.A.’s entertainment industry faces severe crisis as thousands of jobs vanish and creatives struggle to survive

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In Short:
– Hollywood’s entertainment industry faces a severe job decline, impacting many professionals like Brian Mainolfi.
– Proposed federal measures to revive local production have been insufficient, leaving the industry’s future uncertain.
Hollywood’s entertainment industry faces a significant downturn, with work evaporating and many creative professionals searching for new avenues to survive.

The industry has seen a sharp decline in jobs. According to the Bureau of Labor Statistics, Los Angeles County employment in motion picture production fell from 142,000 to 100,000 in two years due to reduced movie and TV productions.

Fewer projects are moving to Los Angeles because of high costs and a lack of tax incentives compared to other regions.

The impact on local businesses dependent on production workers has been severe, contributing to a broader economic challenge in the area.

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Industry Decline

The absence of steady work has led some professionals to leave the industry entirely.

Many workers, including Thomas Curley, who won an Oscar for “Whiplash,” have struggled with the loss of purpose, and job scarcity remains pervasive.

Federal measures have been proposed, including a possible tax credit to stimulate local production, but efforts have thus far been insufficient.

With the continuing effects of recent strikes and a potential shift away from traditional content consumption, the outlook for Hollywood’s future remains uncertain.


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US government shutdown delays crucial jobs data

Investors navigate uncertainty as U.S. government shutdown delays jobs data, impacting global markets. #markets #usshutdown #jobs

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Investors navigate uncertainty as U.S. government shutdown delays jobs data, impacting global markets. #markets #usshutdown #jobs


Across the Pacific, attention is on the looming U.S. government shutdown, though investors appear to be looking through the uncertainty for now.

U.S. jobs data, expected this week, has been delayed due to the shutdown, adding another layer of uncertainty for global markets.

#markets #usshutdown #jobs #rba #tesla #tickernews


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