Prologue Journal – Page 39328 – Understanding current events through the lenses of the past and future.

It Takes Three Months to Renew a Passport, So Do This to Save Your Summer Trip

Wall Street Journal Travelers should expect longer waits to get their passports renewed. But there are options to speed up the process. https://www.wsj.com/articles/passports-renewal-travel-customs-global-entry-a47be108

Corporate Profit Margins Are Finally Stabilizing

Wall Street Journal A larger share of revenue at big U.S. companies is beginning to reach the bottom line. https://www.wsj.com/articles/corporate-profit-margins-are-finally-stabilizing-creating-new-tailwind-for-stocks-bbbdbcc4

Scrambling to Avoid Default, White House Weighs Debt-Limit Fallback Options

Wall Street Journal Short-term increase to the debt ceiling under consideration. https://www.wsj.com/articles/scrambling-to-avoid-default-white-house-weighs-debt-limit-fallback-options-c08b0f76

Big Tech Expects Some Assets to Last Longer. But the Boost to Profit Is Temporary.

Wall Street Journal The extension of the working lives of technical equipment allows companies like Alphabet, IBM and Akamai Technologies to improve their efficiency and profitability as they cut costs. https://www.wsj.com/articles/big-tech-expects-some-assets-to-last-longer-but-the-boost-to-profit-is-temporary-66ce9f98

Bankrupt Businesses Fight to Keep Cheaper Loans on Books as Interest Rates Rise

Wall Street Journal Companies in financial distress are trying to reinstate loans as part of their chapter 11 plans to maintain debt they took out when interest rates were low. https://www.wsj.com/articles/bankrupt-businesses-fight-to-keep-cheaper-loans-on-books-as-interest-rates-rise-9397ef81

Norway Central Bank Raises Key Rate by Quarter Percentage Point

Wall Street Journal Norges Bank increased its key policy rate by 25 basis points to 3.25%, as expected. https://www.wsj.com/articles/norway-central-bank-raises-key-rate-by-quarter-percentage-point-edfe200b

Kiev’s troops taking hit near Belogorovka, moving new units there daily — Russian officer

Disclaimer: TASS is Russian government propaganda, and not a reliable news source. According to Yevgeny Prigozhin, founder of private military company (PMC) Wagner, the Ukrainian armed forces have now effectively launched their offensive https://tass.com/politics/1613405

Russia’s Rostec increases production of infantry fighting vehicles

Jerusalem Post https://www.jpost.com/breaking-news/article-742057

Russia has right to protect itself from terrorism — Syrian MFA about UAV attack on Kremlin

Disclaimer: TASS is Russian government propaganda, and not a reliable news source. On May 3, Ukraine attempted to use two drones for a night-time strike on the Kremlin residence of Russian President Vladimir Putin https://tass.com/defense/1613401

French Foreign Minister voices concern over Russia’s ex-President’s calls for Zelensky’s assassination after drone attack on Kremlin

Pravda Ukraine Catherine Colonna, French Foreign Minister, has expressed concern over Russian Security Council Secretary Dmitry Medvedev’s calls for the assassination of Ukrainian President Volodymyr Zelenskyy following a drone attack on the Kremlin. https://www.pravda.com.ua/eng/news/2023/05/4/7400628/