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  • Conspiracy theorist-podcaster joins crowded GOP race for Colorado governor, but will candidacy ‘go nowhere’?

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    A conservative podcaster who’s trumpeted false election conspiracies and called for the execution of political rivals, including Gov. Jared Polis, has formally joined the Republican race to become Colorado’s next governor.

    Joe Oltmann, who filed his candidacy paperwork Monday night, now seeks to participate in an electoral system that he has repeatedly tried to undermine.

    He is the 22nd Republican actively seeking to earn the party’s nomination in June. It’s the largest gubernatorial primary field for a major party in Colorado this century, surpassing the GOP’s previous records set first in 2018, and then again in 2022 — and it comes as the party hopes to break Democrats’ electoral dominance in the state.

    That field will almost certainly narrow in the coming months; four Republicans who’d filed have already dropped out. No more than four are likely to make it onto the ballot — either through the state assembly or by gathering signatures — for the summer primary, said Dick Wadhams, the Colorado GOP’s former chairman.

    The size of the primary field doesn’t really matter, he said, because few candidates will actually end up in front of voters. Eighteen candidates filed ahead of the 2022 race, for instance, but just two were on the primary ballot.

    On the Democratic side, a smaller field of seven active candidates is headlined by Attorney General Phil Weiser and U.S. Sen. Michael Bennet. Polis is term-limited from running again.

    For 2026, Wadhams counted only a half-dozen or so Republican candidates whom he considered “credible,” a qualifier that Wadhams said he used “very, very loosely”: Oltmann, state Sens. Barbara Kirkmeyer and Mark Baisley, state Rep. Scott Bottoms, ministry leader Victor Marx, Teller County Sheriff Jason Mikesell and former Congressman Greg Lopez.

    Wadhams said that other than Kirkmeyer, all of those candidates had either supported election conspiracies or a pardon for Tina Peters, the former Mesa County clerk now serving a nine-year sentence for convictions related to providing unauthorized access to voting equipment.

    Oltmann, of Castle Rock, has repeatedly — and falsely — claimed that the 2020 presidential election was not won by Democrat Joe Biden, while calling for the hanging of political opponents. He previously said he wanted to dismember some opponents to send a message, according to the Washington Post, before adding that he was joking.

    In his Dec. 26 announcement video, Oltmann baselessly claimed that Democrats, who have won control of the state amid demographic shifts and anti-Trump sentiment, were in power in Colorado only because of election fraud.

    He said Polis and Secretary of State Jena Griswold, along with 9News anchor Kyle Clark, were part of a “synagogue of Satan.” Polis and Griswold are both Jewish.

    In his announcement, Oltmann painted an apocalyptic picture of the state and said he hoped that three of its elected leaders — Polis, Griswold and Weiser — would all be imprisoned. He pledged to eliminate property taxes, to focus on the “have-nots” and to pardon Peters, whom President Donald Trump has also sought to release by issuing a federal pardon that legal experts say can’t clear Peters of state convictions.

    Oltmann’s decision to join the field is an example of “extreme candidates” from either major party “who file to run but will go nowhere,” predicted Kristi Burton Brown, another former state GOP chair. She now sits on the Colorado State Board of Education.

    She said the size of the Republican primary field was a consequence of Republicans’ difficulties winning statewide races in Colorado. Democrats have won all four constitutional elected offices for two straight election cycles.

    Burton Brown said it “might be a good idea moving forward” to require candidates to do more than just submit paperwork to run for office. That might include a monetary requirement: She said she didn’t support charging candidates significant sums but thought that “requiring some skin in the game” could prevent “unreasonable primaries.”

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    Seth Klamann

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  • U.S. Treasury posts sharply higher $228 billion June deficit

    U.S. Treasury posts sharply higher $228 billion June deficit

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    WASHINGTON, July 13 (Reuters) – The U.S. government posted a $228 billion budget deficit for June, up 156% from a year earlier as revenues continued to weaken and July benefit payments were accelerated into June, the U.S. Treasury Department said on Thursday.

    The deficit compares to a June 2022 budget gap of $89 billion. June receipts fell $42 billion, or 9% from a year ago, to $418 billion, while June outlays rose $96 billion, or 18%, to $646 billion.

    But some $86 billion worth of July benefit payments were made in June because July 1 fell on a weekend, and without these and other calendar adjustments, the June deficit would have been $142 billion — a 66% increase over June 2022.

    For the first nine months of the 2023 fiscal year, which ends Sept. 30, receipts fell $423 billion, or 11%, from the year-ago period to $3.413 trillion. The decline was primarily driven by lower non-withheld individual income taxes due to lower capital gains in 2022 and lower year-end salary bonuses, as well as sharply higher individual tax refunds as the Internal Revenue Service cleared a backlog of unprocessed receipts.

    The Federal Reserve has earned $93 billion less this year because it is paying higher interest on bank reserves and no longer has positive net income – a situation that a Treasury official said was expected to continue.

    Year-to-date outlays rose $455 billion, or 10% from a year earlier to $4.805 trillion. Higher outlays for Social Security this year have been driven by cost-of-living adjustments, while the interest on the public debt so far this year has risen $131 billion, or 25%, to $652 billion due to higher interest rates.

    Also driving up outlays were $52 billion in Federal Deposit Insurance Corp costs to resolve failing banks, a Treasury official said.

    Reporting by David Lawder; Editing by Andrea Ricci

    Our Standards: The Thomson Reuters Trust Principles.

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  • Oil slips as banking fears return, offsetting China demand hopes

    Oil slips as banking fears return, offsetting China demand hopes

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    • Credit Suisse unease sparks global sell-off
    • Chinese economy shows signs of gradual recovery
    • China reopening expected to boost oil demand -IEA

    LONDON, March 15 (Reuters) – Oil extended losses on Wednesday as unease over Credit Suisse spooked world markets, offsetting hopes of a Chinese oil demand recovery.

    Early signs of a return to calm and stability faded after Credit Suisse’s largest investor said it could not provide the Swiss bank with more financial assistance, sending its shares and broader European stocks sliding.

    “The financial sector in Europe is under significant turmoil today,” said Naeem Aslam, chief investment officer at Zaye Capital Markets.

    Brent crude fell $1.44, or 1.9%, to $76.01 a barrel by 1100 GMT. U.S. West Texas Intermediate crude futures (WTI) were down 33 cents, or 0.5%, at $71.00.

    Oil had rallied earlier on figures showing that China’s economic activity picked up in the first two months of 2023 after the end of strict COVID-19 containment measures.

    On Tuesday both benchmarks shed more than 4% to three-month lows, pressured by fears that the collapse of Silicon Valley Bank (SVB) last week and other U.S. bank failures could spark a financial crisis that would weigh on fuel demand.

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    Wednedsay’s monthly report from the International Energy Agency provided support by flagging an expected boost to oil demand from China a day after OPEC increased its Chinese demand forecast for 2023.

    Investors are now awaiting official U.S. oil inventory data later on Wednesday to see if it confirms the 1.2 million barrel rise in crude stocks reported on Tuesday by the American Petroleum Institute.

    (This story has been refiled to correct typographical error in headline)

    Reporting by Alex Lawler
    Additional reporting by Florence Tan in Singapore and Yuka Obayashi in Tokyo
    Editing by Jason Neely and David Goodman

    Our Standards: The Thomson Reuters Trust Principles.

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  • Indian shares fall ahead of inflation data; Adani stocks slide

    Indian shares fall ahead of inflation data; Adani stocks slide

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    BENGALURU, Feb 13 (Reuters) – Indian shares were off to a muted start on Monday, ahead of domestic retail inflation data due later in the day and U.S. inflation data due tomorrow, while the ongoing uncertainty and spillover effects from the Adani Group’s market rout continued to create an overhang.

    The Nifty 50 index (.NSEI) was down 0.29% at 17,804.60 as of 9:37 a.m. IST, while the S&P BSE Sensex (.BSESN) fell 0.35% to 60,472.28.

    Ten of the 13 major sectoral indexes declined, with information technology stocks (.NIFTYIT) falling nearly 2% amid worries of a growth slowdown in the U.S., from where they get a significant share of their revenue.

    On the flip side, metals (.NIFTYMET) gained with a 1% rise.

    Twenty-seven of Nifty 50 constituents advanced with Titan Co (TITN.NS) and Eicher Motors Ltd (EICH.NS) among top gainers.

    Wall Street equities closed lower on Friday, on fears of a longer-than-expected high-rate regime after hawkish comments from key Federal Reserve officials.

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    Asian markets fell, with the MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) sliding 0.63%.

    Investors await India’s retail inflation data for January, due today. A Reuters poll of economists showed that India’s annual retail inflation rose from a 12-month low in December, but stayed within the 6% upper limit of RBI’s tolerance band in January.

    The uncertainty over the Adani conglomerate added to concerns in domestic markets.

    “The Adani group saga continues to weigh on investors’ minds and hence the sentiment has been negative,” said Prashanth Tapse of Mehta Equities.

    The group has lost over $100 billion in market value since Jan. 24, when U.S. short-seller Hindenburg Research accused the conglomerate of stock manipulation and improper use of tax havens.

    India’s market regulator is probing the group’s links to some of the investors in its scrapped $2.5 billion share sale of the flagship Adani Enterprises.

    ($1 = 82.5250 Indian rupees)

    Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman, Nivedita Bhattacharjee

    Our Standards: The Thomson Reuters Trust Principles.

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  • Dow posts record closing high, stocks gain for 3rd week; dollar dips

    Dow posts record closing high, stocks gain for 3rd week; dollar dips

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    • S&P 500, Nasdaq end session lower
    • Evergrande averts default with surprise interest payment
    • U.S. 10-year yields lower

    NEW YORK, Oct 22 (Reuters) – The Dow Jones industrial average registered a record closing high on Friday and major equity indexes posted a third straight week of gains while the U.S. dollar slipped.

    On the day, MSCI’s broadest gauge of global shares (.MIWD00000PUS) was flat, and the S&P 500 (.SPX) and Nasdaq (.IXIC) ended lower.

    Stocks came under pressure after Federal Reserve Chair Jerome Powell said the U.S. central bank was “on track” to begin reducing its purchases of assets. read more

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    Intel’s stock (INTC.O)fell 11.7% and was among the biggest drags on the S&P 500. Late Thursday, Intel reported sales that missed expectations and pointed to shortages of chips holding back sales of its flagship processors. read more

    American Express Co’s stock (AXP.N) gained, boosting the Dow after the company beat profit estimates for the fourth straight quarter.

    Next week brings reports from several key mega-cap names including Amazon (AMZN.O). read more

    The dollar pared losses after Powell’s comments, but the dollar index was last down 0.10% at 93.64, and is off from a one-year high of 94.56 last week. read more

    “There’s a bit of a positioning unwind taking place. We’ve obviously seen a firmer dollar since the September” Fed meeting, said Mazen Issa, senior FX strategist at TD Securities in New York. “That also dovetails with the seasonal tendency for the dollar to soften into the end of the month.”

    Investors also digested news that China Evergrande Group (3333.HK) appeared to avert default with a source saying it made a last-minute bond coupon payment. read more

    The Dow Jones Industrial Average (.DJI) rose 73.94 points, or 0.21%, to 35,677.02, the S&P 500 (.SPX) lost 4.88 points, or 0.11%, to 4,544.9 and the Nasdaq Composite (.IXIC) dropped 125.50 points, or 0.82%, to 15,090.20.

    The pan-European STOXX 600 index (.STOXX) rose 0.46% and MSCI’s gauge of stocks across the globe shed 0.03%.

    The MSCI index posted gains for a third straight week along with the three major U.S. stock indexes.

    In the U.S. bond market, yields on longer-dated U.S. Treasuries slid.

    The yield on 10-year Treasury notes was down 1.6 basis points to 1.659% after rising to a five-month high of 1.7064% late Thursday.

    Oil rose and ended up for the week, near multi-year highs. Brent crude futures rose 92 cents to settle at $85.53 a barrel, and registered its seventh weekly gain. U.S. crude futures gained $1.26, to settle at $83.76, and rose for a ninth straight week. read more

    Spot gold was up 0.6% at $1,793.82 per ounce.

    Among cryptocurrencies, bitcoin last fell 2.21% to $60,841.96.

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    Additional reporting by Simon Jessop in London, and Karen Brettell, Sinead Carew and Herbert Lash in New York and Kevin Buckland in Tokyo
    Editing by Hugh Lawson Mark Potter and David Gregorio

    Our Standards: The Thomson Reuters Trust Principles.

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