Showing posts with label Wall Street Journal. Show all posts
Showing posts with label Wall Street Journal. Show all posts

Friday, March 31, 2023

White House Calls on Russia to Release Wall Street Journal Reporter Evan Gershkovich

A journalists worse nightmare.

At WSJ, "Biden Calls on Russia to Release Journal Reporter":

WASHINGTON—President Biden urged Russia to release Wall Street Journal reporter Evan Gershkovich Friday—shouting “let him go” as he boarded a helicopter—amid a rift in U.S.-Russia relations already so wide that the two powers barely maintain diplomatic communications.

Mr. Biden said the U.S. didn’t plan any expulsion of Russian diplomats. “That’s not the plan right now,” he said from the South Lawn of the White House before departing for Joint Base Andrews.

Past expulsions have prompted tit-for-tat retaliation from Moscow, leaving both the U.S. Embassy in Russia and Russia’s Embassy in Washington with skeleton staff.

More than three dozen top global news organizations joined in the call for Mr. Gershkovich’s release, saying they were deeply troubled by his detention.

“Gershkovich’s unwarranted and unjust arrest is a significant escalation in your government’s anti-press actions,” they said in a letter to Russia’s ambassador to the U.S. “Russia is sending the message that journalism within your borders is criminalized and that foreign correspondents seeking to report from Russia do not enjoy the benefits of the rule of law.”

The sunken state of U.S.-Russia ties will make any agreement on the release of Mr. Gershkovich, 31, difficult to secure as he heads toward a trial in a court under the control of Russia’s security service, the FSB, U.S. officials say.

Such a court is expected to operate on the orders of the Kremlin, increasing the prospect of a conviction after a trial that may be held in secret. The FSB said Thursday that Mr. Gershkovich was detained Wednesday for alleged espionage while on a reporting trip to the Russian provincial city of Yekaterinburg, around 800 miles east of Moscow. The Journal vehemently denied wrongdoing on the part of Mr. Gershkovich and called for his immediate release.

In Washington, President Biden urged on Friday Mr. Gershkovich’s release. “Let him go,” he said.

Kremlin watchers say Mr. Gershkovich was likely detained so Moscow could use him in a prisoner swap. The fact that Russia has charged him with espionage, rather than a common criminal offense, suggests the Kremlin will want a big prize in return for his release, said John J. Sullivan, who served as U.S. ambassador to Moscow until last year.

“This is not an arrest that the local police or FSB would do on their own,” said Mr. Sullivan, now a distinguished fellow at Georgetown University in Washington. The charge of espionage, he said, is a big development and a very bad sign.

The arrest of Mr. Gershkovich, a Russian speaker whose parents came to the U.S. from the former Soviet Union, marked the latest diplomatic flashpoint between Moscow and Washington. The two countries, already on opposite sides of the war in Ukraine, have also clashed over the arrests of each other’s citizens and the state of nuclear-arms treaties. The U.S. has also led an array of countries in imposing sanctions on Russia in a campaign to choke its economy following the Russian invasion of Ukraine.

“The Wall Street Journal vehemently denies the allegations from the FSB and seeks the immediate release of our trusted and dedicated reporter, Evan Gershkovich,” the Journal said. “We stand in solidarity with Evan and his family.”

Although Moscow has arrested American citizens on espionage charges, the detention of a journalist is rare. The last U.S. journalist to face such a charge was U.S. News & World Report journalist Nicholas Daniloff in 1986.

In that case, Moscow had a clear motive: Three days before Mr. Daniloff’s arrest, the U.S. had detained a Soviet employee of its United Nations delegation in New York in a Federal Bureau of Investigation sting. After intense negotiations, Mr. Daniloff was released less than three weeks later in an exchange for the diplomat. Mr. Daniloff denied the espionage allegation.

A swap for Mr. Gershkovich could be more difficult today because of the poor state of U.S.-Russian relations, former diplomats say. In 1986, relations between Moscow and Washington were on the upswing, and both sides were anxious to try to preserve some of the progress.

Today, ties are on a downward trajectory, and Russia’s rhetoric suggests it sees itself in an existential conflict with the U.S., said Andrew Weiss, a vice president of the Carnegie Endowment for International Peace, where he studies Russia and Eurasia.

Along with diplomacy, people-to-people contacts between the two countries have dried up, and the business relationship, which was never extensive, “is largely in tatters,” Mr. Weiss said...

 

Wednesday, April 12, 2017

Bret Stephens Quits WSJ for NYT

Stephens has been a rather vile "Never Trumper" this last year or two, so it's pretty natural for him to join up at the Old Gray Hag.

At Politico:


Thursday, November 6, 2014

Whoa! Brace for Further Ideological Polarization!

Heh, the next two years will be gridlock to the nth power!

Listen to Susan Page discuss the pull of the hard-line party partisans, lol.



Sunday, October 12, 2014

Dow Erases Gains for the Year

Interesting stock market volatility this last week, perhaps a precursor of broader economic calamity? And we're barely out of the last recession, hmm.

At the Wall Street Journal, "Tumultuous Week Shatters Market Calm as Global Growth Fears Rattle Investors":
Global stocks tumbled on Friday, dragging the Dow Jones Industrial Average into negative territory for 2014 and shaking the confidence that many investors had clung to despite lackluster growth around the world.

A wave of selling in the final hour of trading on Friday left the Dow at 16544.10, down 115.15 points, or 0.7%. The blue-chip index fell 466 points, or 2.7%, for the week, its worst weekly performance since August.

The Dow rose or fell at least 1% on three separate days, a sign of the stomach-churning worries now spreading through global financial markets.

As big U.S. companies begin reporting third-quarter results, many investors fear that some firms will say weakening foreign markets and the strengthening U.S. dollar held down sales and could hurt future performance.

Another problem: Because stock-price valuations are high, many investors believe low interest rates and inflation, strong earnings and steady economic growth are needed to keep pushing stocks higher overall.

The technology-laden Nasdaq Composite Index fell 4.45% for the week, while the small-stock Russell 2000 index slumped 1.4% on Friday. It is down 13% from its March high.

This week’s most troubling news came largely from Europe, where surprisingly soft economic reports again raised the specter of recession. Germany announced unexpected weakness in manufacturing and exports.

Meanwhile, falling oil and industrial-metals prices are fueling fresh worries that China, a buyer of vast quantities of raw materials, might be slowing down more than previously thought.

“It is the dollar and exposure to foreign economies that are weighing on the market here right now,” said Robert Pavlik, chief market strategist at Banyan Partners, which oversees $4.5 billion.

Still, the Dow is down only 4.3% from its record in September. While many money managers worry that the volatility isn’t over, few expect a bear market, meaning a decline of 20% or more. So far in 2014, the Dow has slipped 0.2%...
More.

RELATED: "‘A Regular, Run of the Mill, Old Fashioned Normal Stock Market’."

Wednesday, October 8, 2014

Stock Market Volatility

At WSJ, from this morning, "U.S. Stocks Tumble on Global Growth Worries: Dow Industrials Post Biggest One-Day Decline Since End of July."

And then after today's closing bell, "U.S. Stocks Rally After Fed Minutes: FOMC Minutes Point to Caution on Interest Rates":
Financial markets gave investors a case of whiplash Wednesday, as stocks and bonds surged and the dollar fell on news that suggested the Federal Reserve may move more cautiously raising interest rates.

The rally, which took stocks to their biggest gains of the year on heavy trading, reversed a 273-point selloff Tuesday sparked by worries about an economic slowdown in Europe.

A day later, some of the same factors—the eurozone’s sluggish growth and the strong dollar—unexpectedly provided the fuel for a rally as the minutes from the Fed’s latest policy meeting in September showed more focus on slowing growth overseas and lessening inflation pressures.

In recent weeks, financial markets have seesawed on changing expectations for the timing of any interest-rate increase by the Fed. While most investors expect the Fed to hold off until June of next year, the chance that the central bank could move sooner has at times spooked investors.

The Dow Jones Industrial Average climbed 274.83 points, or 1.6%, to 16994.22, its largest point and percentage gain since December. The S&P 500 jumped 33.79 points, or 1.7%, to 1968.89, its strongest gain in nearly 12 months...
More.

Sunday, July 13, 2014

Daily Email Newsletter TheSkimm Hits 500,000 Subscribers

The lovely Carly Zakin, at left, caught my attention.

But think about it: two young women, in their 20s, running an email newsletter that now has investors placing million dollar-plus financing deals for the business? You know, because capitalism is horrible. Just horrible!

Via the Wall Street Journal:



Tuesday, July 8, 2014

Free People, Free Markets

I love the Journal, but as I always say, they're a little loose with their open-borders advocacy.

At the Wall Street Journal, "The lessons from 125 years show how to revive American prosperity":

The answer to our current slow growth and self-doubt isn't a set of magical "new ideas" or some unknown orator from the provinces. The answer is to rediscover the eternal truths that have helped America escape malaise and turmoil in the past.

These lessons include that markets—the mind of free millions—allocate scarce resources more efficiently and fairly than do committees in Congress; that the collusion of government with either big business or big labor stifles competition and leads to political cynicism; that government will be respected more when it does a few things well rather than too many poorly; and that innovation and human progress spring not from bureaucratic elites but from the genius of individuals.

Above all, the lesson of 125 years is that whatever our periodic blunders Americans have always used the blessings of liberty to restore prosperity and national confidence. A free people have their fate in their own hands.


Wednesday, January 22, 2014

Chief Executive Lex Fenwick Out at Dow Jones

I saw something earlier about how the Wall Street Journal is getting a makeover, so I'd guess this is related. At the New York Times, "Lex Fenwick, Dow Jones Chief, Resigns in Shift by News Corp.":
Lex Fenwick, the hard-driving chief executive who stumbled in his efforts to transform Dow Jones, the publisher of The Wall Street Journal, has resigned effective immediately as the company rethinks its strategy.

The resignation was announced on Tuesday by Dow Jones’s parent company, News Corporation, which is controlled by the billionaire Rupert Murdoch.

Mr. Fenwick’s departure came after News Corporation’s leadership decided that the Dow Jones division needed to change direction, said a person with knowledge of the situation who spoke on condition of anonymity.

News Corporation’s chief executive, Robert Thomson, felt that the company, which was spun off from Mr. Murdoch’s more profitable film and television businesses, needed to offer more flexibility to customers, and was keen to change course quickly, this person said.

Mr. Fenwick’s plan had been to unify a number of Dow Jones products — offering a fast-moving news wire along with other financial databases — and charge customers one price for them all. The new venture, called DJX, was seen by many inside the company as a misstep, said two people, because the high-priced product offered little choice and was unpopular.

Numerous customers blanched at the price increases, and many complained that the product was inferior to the data terminals offered by Bloomberg and Thomson Reuters.

“We’re reviewing the institutional strategy of Dow Jones with an eye toward changes that will deliver even more value to its customers,” Mr. Thomson said. “As part of that, we’re planning improvements to DJX.”

Mr. Fenwick, who once ran Bloomberg L.P., was with the company for less than two years. He was rumored to have set up a boxing ring in Bloomberg’s London offices to energize the sales staff. An internal company newsletter from last year described him as “The Lex-ionnaire” and pictured him, head shaved clean, wearing his trademark tailored purple suit.

He will be replaced on a temporary basis by William Lewis, News Corporation’s chief creative officer and a former editor in chief of Britain’s Telegraph newspaper group, the statement said. Mr. Lewis helped oversee News Corporation’s response to a British investigation of the phone hacking scandal in 2011.

Current and former executives who worked with Mr. Fenwick say he has a history as a gifted salesman with a record of expanding businesses. But they have also described him as a brash and demanding boss.

Nearly a dozen senior executives left the company during Mr. Fenwick’s tenure, according to a study published by the analyst Ken Doctor at Harvard’s Nieman Journalism lab.
More at Romanesko (which is the reference above, after all), "WALL STREET JOURNAL MEMO: NEWSROOM CHANGES MEAN ‘A FASTER-MOVING, DIGITAL-FIRST NEWS OPERATION’."