Delta Airlines Suspends Congress Special Treatment

Kudos to Delta Airlines!

Thanks to the Chuck Schumer/Democrat-led partial shutdown, the airline is suspending the special treatment accorded to members of Congress.

Reuters reported:

WASHINGTON, March 24 (Reuters) - Delta Air Lines said on Tuesday it would suspend special services for members of Congress, citing the impact ​of a partial government shutdown that has disrupted U.S. air travel.

"Due ‌to the impact on resources from the longstanding government shutdown, Delta will temporarily suspend specialty services to members of Congress flying Delta. Next to safety, Delta’s ​no. 1 priority is taking care of our people and ​customers, which has become increasingly difficult in the current environment,” ⁠the Atlanta-based U.S. air carrier said in a statement.

Other airlines should also follow suit and suspend perks accorded to members of Congress during the shutdown. They should have a big taste of their own medicine.

To read more, go here.

Ayatollah Ali Khamenei Reportedly Killed

Iran's regime supreme leader Ayatollah has been reported killed in an Israeli air strike.

According to Reuters (via AOL):

Feb 28 (Reuters) - Iran's Supreme Leader Ayatollah Ali Khamenei, who turned the country into a powerful anti-U.S. force and extended its military influence across the Middle East while crushing repeated ‌domestic unrest, was killed in Israeli and U.S. strikes, a senior Israeli official told Reuters on ‌Saturday.

There was no immediate Iranian confirmation of his fate.

The United States and Israel carried out military strikes on Iran on Saturday, targeting ​its top leaders and plunging the Middle East into a conflict that President Donald Trump said would end a security threat to the U.S. and give Iranians a chance to topple their rulers.

To read more, go here. 

Dollar Down At ¥147.85

We are now in a new month and in a government shutdown thanks to Democrat demands that have been rejected by the Republican senate majority. 

With this in mind, how is the U.S. dollar faring against the Japanese yen in foreign exchange trading?

According to Reuters:

In afternoon trading, the dollar fell 0.5% against the yen to 147.85, extending its decline after a mixed Bureau of Labor Statistics' Job Openings and Labor Turnover Survey, or JOLTS. On the quarter, the dollar rose 2.7%, the best quarterly gains since October 2024.

To read more, go here. 

Warners Hit With New Superman Lawsuit

Above, the Superman statue in Metropolis, Illinois. Photo by Armand Vaquer.

Here we go again!

A new Superman lawsuit has been filed, this time by the estate of Superman co-creator Joseph Shuster.

Reuters reported:

Jan 31 (Reuters) - The estate of one of Superman's co-creators has filed a copyright lawsuit in a U.S. court against Warner Bros. Discovery (WBD.O), opens new tab ahead of the release of its new movie, "Superman," part of a planned reboot of the DC Comics superhero film franchise.

The lawsuit, opens new tab was filed on Friday in federal court in New York City by the estate of Superman illustrator Joseph Shuster, who created the famous superhero along with writer Jerome Siegel.

The lawsuit noted that Shuster and Siegel had licensed their rights to the character to Detective Comics, the predecessor of DC Comics, now a subsidiary of Warner. The lawsuit claims that under British law, Shuster's rights reverted to his estate in 2017, 25 years after his death.

The estate accused Warner of unlawfully failing to pay royalties to use Superman in Britain, Canada, Australia and other countries outside the United States.

The new Superman movie, directed by James Gunn and starring David Corenswet, is set to be released in theaters in July. The new litigation could complicate the international distribution of the film. It marks the latest salvo in a long-running legal battle over the rights to the character.

Shuster's estate is seeking monetary damages and a court order blocking Warner from depicting Superman without a license. 

To read more, go here. 

Japan Visitors Set New Spending Record

Above, the Hozomon Gate at Asakusa's Senso-ji temple. Photo by Armand Vaquer

Thanks to the weak Japanese yen, tourist spending in Japan has reached record levels. 

Reuters reported:

TOKYO, Oct 16 (Reuters) - Visitor spending in Japan broke an annual record in just nine months, official data showed on Wednesday, demonstrating the economic power of a tourism boom fuelled by the weak yen.

Travellers spent 5.86 trillion yen ($39.27 billion) through September, preliminary figures from the Japan National Tourism Organization (JNTO) showed. That eclipsed the 5.3 trillion yen spent in all of 2023, a record for any 12-month period.

The current exchange rate between the U.S. dollar and the Japanese yen is 1 USD = 149.92 JPY.

To read more, go here. 

Court Upholds Gun Ban For Illegal Immigrants

A federal three-judge panel of the U.S. Court of Appeals ruled that a law banning possession of firearms by illegal immigrants is legal.

According to an article in Reuters:

Aug 28 (Reuters) - A U.S. appeals court upheld a federal law that bars migrants who are in the United States illegally from possessing guns, rejecting arguments by a Mexican man convicted of unlawfully having a handgun that the ban was unconstitutional.

A three-judge panel of the New Orleans-based 5th U.S. Circuit Court of Appeals said on Tuesday, opens new tab that the ban was still valid even after recent U.S. Supreme Court rulings that have expanded gun rights by requiring firearms restrictions to be in keeping with the nation's history and tradition.

The panel said those Supreme Court rulings did not unequivocally undermine an earlier decision by the 5th Circuit holding that the plain text of the U.S. Constitution's Second Amendment does not encompass immigrants in the county illegally.

"We should not extend rights to illegal aliens any further than what the law requires," U.S. Circuit Judge James Ho, a conservative appointee of Republican former President Donald Trump, wrote in a concurring opinion.

I agree with this decision. In a nutshell, illegal migrants do not have the right to bear arms under the Second Amendment.

To read more, go here. 

Yen Tumbles To Near Intervention Levels

For some reason, I forgot to take a look at how the U.S. dollar is faring against the Japanese yen at the beginning of the month.

That is now being rectified as here's what has been happening during the past 24 hours.

According to Reuters:

NEW YORK, April 23 (Reuters) - The yen dropped to multi-year lows against the U.S. dollar and euro on Tuesday, keeping investors on heightened Japanese intervention watch ahead of this week's Bank of Japan policy meeting.

The euro reached 165.71 yen, its highest since 2008, after data showed business activity in the euro zone expanded at its fastest pace in nearly a year, primarily due to a recovery in services. Europe's common currency was last up 0.4% at 165.67 yen .

The dollar rose as high as 154.88 against the yen , a 34-year peak and edging closer to 155, a level seen by market participants as the new trigger for Japanese intervention.

The greenback was last little changed on the day at 154.79 yen.

To read more, go here. 

California's One-Gun-A-Month Law Struck Down

California's hare-brained anti-Second Amendment laws are being struck down one-by-one.

The latest is the state's one-gun-a-month law is the latest to be struck down.

From Reuters:

March 11 (Reuters) - A California law barring the purchase of more than one gun in a 30-day period was struck down on Monday by a federal judge who said it failed a test for state laws laid out in the 2022 U.S. Supreme Court ruling expanding gun rights.

U.S. District Judge William Hayes sided with a group of California residents, gun retailers and gun rights nonprofits in finding that the one-gun-a-month law did not fit within the nation’s historical tradition of firearms regulation. The law remains in place for now because the judge stayed his ruling for 30 days to give the state time to appeal.

The ruling, is the latest to deem a state gun law unconstitutional in the wake of the high court’s landmark decision in New York State Rifle & Pistol Association v. Bruen, which dramatically expanded gun rights.

To read more, go here. 

Japan Sees Record 2.73 Million Visitors In December

Above, Kyoto's Kinkaku-ji Golden Pavilion. Photo by Armand Vaquer.

Tourism has pretty much recovered in Japan after the pandemic.

December saw a record number of visitors according to Reuters.

They wrote:

TOKYO, Jan 17 (Reuters) - Japan welcomed a record number of visitors in December, official data showed on Wednesday, closing out a year of rapid recovery from the COVID-19 pandemic.

The number of foreign visitors for business and leisure rose to 2.73 million last month from 2.44 million in November, data from the Japan National Tourism Organization (JNTO) showed.

It was the highest-ever number of tourists for the month of December and about 8% higher than the pre-pandemic level seen in 2019. 

To read more, go here. 

Reuters Reports St. Petersburg, Russia Hit By Ukranian Drone

Above, a winter scene in St. Petersburg. Photo by Asya Lipovetckaia.

A friend passed along a Reuters report this morning that St. Petersburg, Russia was hit by a Ukrainian drone. This happened a couple of days ago.

Reuters reported:

Jan 18 (Reuters) - Ukraine hit targets in Russia's St Petersburg overnight using a domestic-produced drone that flew 1,250 km (775 miles), a Ukrainian government minister was quoted as saying by Interfax-Ukraine news agency on Thursday.

A Ukrainian military source told Reuters earlier that an oil terminal in Russia's second city, located some 850 km (530 miles) from the nearest section of the Ukrainian border, was targeted as part of a "new stage of work in this region".

I am checking with Asya to confirm the story.

To read more, go here. 

Dollar At ¥151.24

Now that we're in a new month, it is time to take a peek at how the U.S. dollar is faring against the Japanese yen.

American travelers to Japan (at least the high rollers) should be pleased at where the dollar stands.

Reuters reported:

SINGAPORE/LONDON, Nov 1 (Reuters) - The battered yen recovered some ground on Wednesday on threats of intervention from Japanese authorities, and as investors shifted focus to the Federal Reserve's policy decision later in the day.

The dollar was last down 0.33% at 151.24 yen , after more pointed-than-normal remarks from Japan's top currency diplomat Masato Kanda.

To read more, go here. 

Yen Starts October Fragile Against The Dollar

We're now in a new month, so it's time to take a peek at how the U.S. dollar is faring in Japan.

Although Japan Rail has hiked their JR Rail Pass prices by 70% yesterday, but at least the dollar is going gangbusters to start off the month in Tokyo foreign exchange.

Reuters reported.

LONDON, Oct 2 (Reuters) - The dollar was in the ascendant on Monday on the prospects that U.S. interest rates would stay higher for longer, while the yen slid towards 150 per dollar and near a one-year low, putting traders on watch for intervention from Japanese authorities.

The yen eased to 149.83 per dollar, its weakest in more than 11 months, moving ever closer to the 150 mark that some traders believe could prompt intervention by Tokyo to support the currency.

To read more, go here. 

2 Million Visitors Arrived In Japan In August

Above, Asakusa's 5-storied pagoda. Photo by Armand Vaquer.

Japan's tourism industry is making a steady recovery in the numbers of foreign tourists coming into the country.

Over two million visitors arrived in Japan in August.

According to Nikkei Asia:

TOKYO (Reuters) -- Japan welcomed more than 2 million visitors for a third straight month in August, recovering to more than 80% of pre-pandemic levels for the first time, official data showed on Wednesday.

The number of foreign visitors for business and leisure was 2.16 million last month, data from the Japan National Tourism Organization (JNTO) showed.

Visitor arrivals improved to 85.6% of the levels seen in 2019, before the COVID-19 pandemic led to travel curbs around the world.

The August numbers were down from a post-pandemic high of 2.32 million in July, but the recovery is continuing, aided by increases in international flights and a weak yen, which makes trips to Japan more affordable than they have been in decades.

To read more, go here. 

Hurricane Hilary: Catastrophe For Insurers?

Hurricane Hilary (or rather, Tropical Storm Hilary) has made its way through Southern California. 

Reuters reported:

LOS ANGELES, Aug 21 (Reuters) - The first tropical storm to hit Los Angeles in more than 80 years unleashed floods across parts of Southern California more accustomed to drought, as officials urged the public to stay safe as they began to count the cost of damage.

The National Weather Service downgraded the hurricane to a tropical depression but not before California Governor Gavin Newsom declared a state of emergency for much of Southern California, with flash flood warnings until at least 3 a.m. (1000 GMT) on Monday.

I would not be at all surprised if the insurance claims industry assigns a catastrophe status to this event, along with a catastrophe code number, in the days ahead or have done so already. Major events such as this usually are assigned catastrophe status for anticipated high damage claims. Insurers will be hiring additional claims staff to handle the increased numbers of claims. I served on several catastrophes, the last being the Northridge Earthquake in 1994.

The Insurance Services Office (ISO) defines a catastrophe as an event that causes. $24 million or more in insured property losses and affects a significant number of. property/casualty policyholders and insurers.

It is possible that retired property adjusters, such as myself, are called up to join catastrophe teams. Good money is made in joining catastrophe claim teams.

To read more, go here.

DeSantis Opposes Central Bank Digital Currency Scheme

Florida Governor Ron DeSantis said that he opposes central bank digital currencies (CBDC).

According to Reuters:

May 24 (Reuters) - Florida Republican Governor and U.S. presidential hopeful Ron DeSantis on Wednesday pledged to support people's right to trade in digital assets like Bitcoin and said he opposes establishing a central bank digital currency.

This is a plus, in my opinion. Any candidate who supports CBDCs is not worth anyone's consideration.

Flood Threat Closing Parts of Yosemite

Above, Tenaya Creek in Yosemite Valley. Photo by Armand Vaquer.

They're not talking about drought in California now. This winter saw record snowfall in the Sierra Nevadas. Which is good for water supplies.

On the downside, the melting snow may cause flooding. Accordingly, Yosemite National Park will be seeing some closures due to the possibility of floods.

From Reuters:

April 25 (Reuters) - Most of the vast, scenic valley at the heart of Yosemite National Park in California will close to visitors this weekend in a rare shutdown prompted by forecasts of floods from rapid snowmelt.

The closure will start at 10 p.m. on Friday and last at least until Wednesday, May 3, possibly longer, depending on how swiftly melting mountain snow runs off into the Merced River through Yosemite Valley, the National Park Service said on Tuesday. 

The agency said reservations for lodging and campgrounds would be automatically canceled and refunded.

Shutdown of an area renowned for such landmarks as the towering granite formations of El Capitan and Half Dome comes as Central California braces for a looming heat wave, with highs in the 90s Fahrenheit and overnight lows well above freezing.

To read more, go here. 

Silver Up Sharply, Gold Ticks Up

Indicators that gold and silver are performing today on a high note are getting some excited. 

According to Kitco News:

(Kitco News) - Gold prices are slightly up and silver prices are sharply higher and hit a two-month high in early U.S. trading Thursday. Bullish technical charts are fueling speculative buying interest in the two precious metals. However, gold is being constrained a bit by an up-tick in trader/investor risk appetite this week. April gold was last up $2.10 at $1,969.00 and May silver was up $0.459 at $23.93.

This has also caught the attention of Reuters, who wrote:

March 30 (Reuters) - Gold prices edged up on Thursday, helped by a softer dollar as investors lie in wait for economic data to gauge the U.S. Federal Reserve's rate-rise path.

Spot gold was up 0.3% at $1,969.13 per ounce, as of 1157 GMT. U.S. gold futures rose 0.1% at $1,986.30.

The dollar index eased 0.2%, making gold more attractive for overseas buyers.

Spot silver rose 1.8% to $23.76 per ounce.

To read the full Kitco News article, go here. 

To read the full Reuters article, go here.

Nearly 1.5 Million Visitors Came To Japan In January

Above, the Wako department store in Ginza. Photo by Armand Vaquer.

It is a far cry from pre-pandemic levels, but Japan is on the road to recovery in foreign visitor arrivals.

Reuters reported:

TOKYO, Feb 15 (Reuters) - Visitors to Japan climbed to nearly 1.5 million in January, the national tourism agency said on Wednesday, showing an accelerating recovery in tourism after the government scrapped COVID-19 curbs in October.

The number of foreign visitors for both business and leisure rose to 1,497,300 last month from 1,370,000 in December, the Japan National Tourism Organization said in a release. More than a third of the arrivals were from South Korea.

To read more, go here. 

Americans Under Felony Indictment Can Still Buy Guns, Judge Rules

Americans who are indicted for a felony can still buy guns. A federal law was ruled unconstitutional thatprohibited those under felony indictment from buying guns.

A federal judge ruled this on Monday. 

From Reuters:

Sept 20 (Reuters) - A federal law prohibiting people under felony indictment from buying firearms is unconstitutional, a federal judge in Texas has concluded, citing a U.S. Supreme Court ruling that significantly expanded gun rights.

U.S. District Judge David Counts, an appointee of Republican former President Donald Trump, reached that conclusion on Monday in dismissing a federal indictment against Jose Gomez Quiroz, who had been charged under the decades-old ban.

Counts cited the U.S. Supreme Court's ruling in June declaring for the first time that the right to "keep and bear arms" under the U.S. Constitution's Second Amendment protects a person's right to carry a handgun in public for self-defense.

To read more, go here. 

Japan Set To Waive Tourist Restrictions

Above, yours truly at Tokyo City View in Roppongi Hills. 

Japan is being forced to allow visa-free tourists into the country due to the collapse of the yen and the lifting of COVID restrictions.

It has yet to announce the change, but it is expected to go into effect in October.

According to Fox Business:

The Japanese government is walking back years of harsh travel restrictions as the yen collapses in value due to a stagnant economy and weak trade.

Japan will allow all travelers with at least three COVID-19 vaccine injections or a negative test result to enter the country without the need for a visa.

Japan until recently has all but completely rejected foreigners seeking entry or re-entry into the country.

The dramatic reversal was announced as the Japanese government struggles to keep the yen from further collapse.

From Reuters:

Sept 15 (Reuters) - Japan is expected to waive visa requirements for certain tourists and remove a limit on daily arrivals in October as it aims to benefit from a rebound in global tourism, Nikkei reported on Thursday.

Following the change, Japan will not require visas for short-term travelers from the United States and certain other countries, and will scrap the daily entry cap of 50,000 people, the media outlet said.

From The Guardian: 

Japan could return to unfettered tourism by the end of next month as pressure builds on the government to end Covid-19 travel restrictions and cash in on a weak yen.

Officials are reportedly considering removing the current daily cap of 50,000 arrivals, which includes returning residents, and a return to visa-free travel. A rule requiring individual travellers to make bookings through travel agencies could also be lifted, according to media reports.