Russia’s Patriarch Kirill Discusses Ukraine Conflict With Pope Francis

In a statement, the Russian Orthodox Church said that on Wednesday, Patriarch Kirill of Russia and Pope Francis discussed the situation in Ukraine.

During the meeting, a detailed discussion of the situation in Ukraine was held. In particular, attention was paid to the humanitarian aspects of the current crisis, as well as the actions were taken by the Russian Orthodox Church and the Roman Catholic Church to combat the consequences of the crisis. According to the statement, “the parties stressed the exceptional importance of the ongoing negotiations, expressing their hope that a just peace would come as soon as possible.”

Patriarch Kirill and Pope Francis discussed a number of issues of bilateral cooperation as well, according to a statement made by the Vatican.

Some context: It has also been reported that the Pope has appealed for peace during the war, met with the Russian ambassador to the Vatican, and will hold an extraordinary prayer called a “consecration” for Russia and Ukraine next week.

According to Patriarch Kirill, the conflict is an extension of a clash of cultures between the wider Russian world and the West’s liberal values, exemplified by expressions such as homosexual pride parades. According to experts, Kirill’s remarks offer important insights into Putin’s larger spiritual vision that he intends to return to the Russian Empire, in which Orthodox Christianity plays a central role.

Kirill said in a speech just three days after Russia invaded Ukraine that “we must not let dark and hostile external forces laugh at us. We must do everything within our power to preserve peace between our peoples and at the same time to protect our fatherland against all actions outside of our control that can destroy it.”

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World

Russian Arms Dealer Viktor Bout Back in Business After Biden Prisoner Exchange

Viktor Bout, a notorious Russian arms dealer, arriving at court in Bangkok in 2010 - CTN Image

Viktor Bout, the infamous Russian arms dealer who was exchanged two years ago for Brittney Griner by President Biden, has reportedly returned to arms trading, as detailed in a report by the Wall Street Journal.

The Wall Street Journal has revealed that Vikto Bout, infamously dubbed the “merchant of death,” is seeking to facilitate the sale of small arms to the Houthis. A report indicates that Houthi representatives met with Bout in Moscow in August to discuss the acquisition of $10 million in automatic weapons.

Nonetheless, the anticipated arms deal remains unfulfilled, as indicated by the report.

Reports indicate that the weapons being discussed do not encompass larger systems such as anti-ship or anti-air missiles, which could represent a considerable risk to U.S. military operations in the area.

Requests for comment from the WSJ regarding Bout’s alleged involvement in the arms trade went unanswered by the Kremlin and Russia’s Ministry of Defense. Steve Zissou, an attorney who provided legal representation for Bout during his time in U.S. custody, refrained from commenting on the possibility of Bout’s meetings with the Houthis.

Viktor Bout, the notorious Russian arms dealer was exchanged for Brittney Griner – CNN Image

Viktor Bout released in 2022

Bout, who became affiliated with Russia’s Kremlin-loyal Liberal Democratic Party following his release in a prisoner swap in December 2022, has kept a low profile since his return.

Bout was taken into custody in Thailand in 2008 and subsequently extradited to the United States, where he faced conviction in 2012 on charges associated with arms trafficking, resulting in a 25-year prison sentence.

For almost twenty years, Bout stood out as one of the globe’s most notorious arms dealers, providing weaponry to unrecognized governments and insurgent factions throughout Africa, Asia, and South America. The activities he conducted served as the basis for the 2005 film Lord of War.

Even after his conviction and imprisonment, reports indicate that Bout’s network persisted in its operations, contributing to conflicts in some of the globe’s most perilous areas.

Former US Marine Paul Whelan Released From Russian Prison

Former US Marine Paul Whelan Released From Russian Prison

Business

PepsiCo Reduces Revenue Projections As North American Snacks And Key International Markets Underperform.

(VOR News) – In the third quarter of this year, Pepsi’s net income was $2.93 billion, which is equivalent to $2.13 per share. This was attributed to the company.

This is in stark contrast to net income of $3.09 billion, which is equivalent to $2.24 per share, during the same period in the previous year. The company’s earnings per share were $2.31 when expenses were excluded.

Net sales decreased by 0.6%, totaling $23.32 billion. Organic sales increased by 1.3% during the quarter when the effects of acquisitions, divestitures, and currency changes are excluded.

Pepsi’s beverage sales fell this quarter.

The most recent report indicates that the beverage and food sectors of the organization experienced a 2% decline in volume. Consumers of all income levels are demonstrating a change in their purchasing habits, as indicated by CEOs’ statements from the previous quarter.

Pepsi’s entire volume was adversely affected by the lackluster demand they encountered in North America. An increasing number of Americans are becoming more frugal, reducing the number of snacks they ingest, and reducing the number of times they purchase at convenience stores.

Furthermore, Laguarta observed that the increase in sales was partially attributed to the election that occurred in Mexico during the month of June.

The most significant decrease in volume was experienced by Quaker Foods North America, which was 13%. In December, the company announced its initial recall in response to a potential salmonella infection.

Due to the probability of an illness, the recall was extended in January. Pepsi officially closed a plant that was implicated in the recalls in June, despite the fact that manufacturing had already been halted.

Jamie Caulfield, the Chief Financial Officer of Pepsi and Laguarta, has indicated that the recalls are beginning to have a lessening effect.

Frito-Lay experienced a 1.5% decline in volume in North America. The company has been striving to improve the value it offers to consumers and the accessibility of its snack line, which includes SunChips, Cheetos, and Stacy’s pita chips, in the retail establishments where it is sold.

Despite the fact that the category as a whole has slowed down in comparison to the results of previous years, the level of activity within the division is progressively increasing.

Pepsi executives issued a statement in which they stated that “Salty and savory snacks have underperformed year-to-date after outperforming packaged food categories in previous years.”

Pepsi will spend more on Doritos and Tostitos in the fall and winter before football season.

The company is currently promoting incentive packets for Tostitos and Ruffles, which contain twenty percent more chips than the standard package.

Pepsi is expanding its product line in order to more effectively target individuals who are health-conscious. The business announced its intention to acquire Siete Foods for a total of $1.2 billion approximately one week ago. The restaurant serves Mexican-American cuisine, which is typically modified to meet the dietary needs of a diverse clientele.

The beverage segment of Pepsi in North America experienced a three percent decrease in volume. Despite the fact that the demand for energy drinks, such as Pepsi’s Rockstar, has decreased as a result of consumers visiting convenience stores, the sales of well-known brands such as Gatorade and Pepsi have seen an increase throughout the quarter.

Laguarta expressed his opinion to the analysts during the company’s conference call, asserting, “I am of the opinion that it is a component of the economic cycle that we are currently experiencing, and that it will reverse itself in the future, once consumers feel better.”

Additionally, it has been noted that the food and beverage markets of South Asia, the Middle East, Latin America, and Africa have experienced a decline in sales volume. The company cut its forecast for organic revenue for the entire year on Tuesday due to the business’s second consecutive quarter of lower-than-anticipated sales.

The company’s performance during the quarter was adversely affected by the Quaker Foods North America recalls, the decrease in demand in the United States, and the interruptions that occurred in specific international markets, as per the statements made by Chief Executive Officer Ramon Laguarta.

Pepsi has revised its forecast for organic sales in 2024, shifting from a 4% growth rate to a low single-digit growth rate. The company reiterated its expectation that the core constant currency profitability per share will increase by a minimum of 8% in comparison to the previous year.

The company’s shares declined by less than one percent during premarket trading. The following discrepancies between the company’s report and the projections of Wall Street were identified by LSEG in a survey of analysts:

SOURCE: CNBC

Business

Old National Bank And Infosys Broaden Their Strategic Partnership.

(VOR News) – Old National Bank, a commercial bank with its headquarters in the Midwest, and Infosys, a firm that specializes in information technology, have recently entered into a strategic expansion of their link, which has been in place for the past four years.

This expansion is more likely to take place sooner rather than later, with the likelihood being higher.

For the purpose of making it possible for Old National Bank to make use of the services, solutions, and platforms that are offered by Infosys, the objective of this expansion is to make it possible for the bank to transform its operations and processes through the application of automation and GenAI, as well as to change significant business areas.

This lets the bank leverage Infosys’ services, solutions, and platforms.

Old National Bank Chairman and CEO Jim Ryan said, “At Old National, we are committed to creating exceptional experiences for both our customers and our fellow employees.”

This statement is applicable to Old National Bank. Infosys is carefully managing the business process innovations that it is putting us through, putting a strong emphasis on efficiency and value growth throughout the process to ensure that it is carried out efficiently.

This is a routine occurrence throughout the entire operation. Because of Infosys’ dedication to our development and success, we are incredibly appreciative of the assistance they have provided.

Old National has been receiving assistance from Infosys in the process of updating its digital environment since the year 2020, according to the aforementioned company.

Ever since that time, the company has been providing assistance. The provision of this assistance has been accomplished through the utilization of a model that is not only powerful but also capable of functioning on its own power.

Infosys currently ranks Old National thirty-first out of the top thirty US banks.

This ranking is based on the fact that Old National is the nation’s largest banking corporation.

It is estimated that the total value of the company’s assets is approximately fifty-three billion dollars, while the assets that are currently being managed by the organization are valued at thirty billion dollars.

Dennis Gada, the Executive Vice President and Global Head of Banking and Financial Services, stated that “Old National Bank and Infosys possess a robust cultural and strategic alignment in the development, management, and enhancement of enterprise-scale solutions to transform the bank’s operations and facilitate growth.”

This remark referenced the exceptional cultural and strategic synergy between the two organizations. Dennis Gada is the one who asserted this claim. This was articulated explicitly concerning the exceptional cultural congruence and strategy alignment of the two organizations.

We are pleased to announce that the implementation of Infosys Topaz will substantially expedite the transformation of Old National Bank’s business processes and customer service protocols. We are exceedingly enthusiastic about this matter. We are quite thrilled about this specific component of the scenario.

Medium-sized banks operating regionally will continue to benefit from our substantial expertise in the sector, technology, and operations. This specific market segment of Infosys will persist in benefiting from our extensive experience. This phenomenon will enable this market sector to sustain substantial growth and efficiency benefits.

SOURCE: THBL