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Grief prays at temples as Thailand mourns massacre of children By Reuters

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© Reuters. People pray at Wat Rat Samki after a mass shooting in Uthai Sawan town, Nong Bua Lam Phu province, Thailand, October 8, 2022. REUTERS/Jorge Silva

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Written by Bobby McPherson and Jorge Silva

UTAI SAAWAN, Thailand (Reuters) – Hundreds of people gathered at temples in northeastern Thailand on Saturday and offered candles, toys and prayers to commemorate the lives of more than 30 people, most of them children, who fell in a gun and knife attack that shocked the world.

Most of the children, aged two to five, were shot to death on Thursday, while adults were shot in the wake of one of the world’s worst child deaths in a massacre by a single killer in recent history, police said.

At Si Uthai Temple on Saturday, relatives and families of the dead joined a devastated community in honoring those killed by a former Bangkok policeman, who was suspended from duty after admitting to using methamphetamine.

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They lit candles before coffins covered in wreaths and pictures of the dead, including young Patarawat Jamnong Ned, who was dressed in a pink American football jersey and who was one of two child victims called “Captain”, after a famous actor.

On top of his coffin was a dinosaur model and a milk bottle.

His mother, a 40-year-old factory worker, Daoreung Jamnongnid, said he was her only child and was active and talkative.

She said that at 2 years and 10 months old, he was the youngest victim, and he already knew the alphabet.

“He was very smart,” Daoryong said. “He liked to watch documentaries with his father.”

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The former policeman’s last victim was his wife and child at home, before he shot himself.

Police identified the attacker as Baniya Khamrab, 34, a former police sergeant facing trial for drug charges.

It was not clear if Banya was still using the drugs. Police said Friday that the autopsy report indicated he had not used it on the day of the attack.

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On Saturday, Prime Minister Prayuth Chan-ocha’s spokesman said he was concerned about the trauma in the community after the tragedy.

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The Ministry of Mental Health urged people not to watch post-event news coverage and to stop sharing violent images on social media.

“The prime minister asked everyone to support each other and get through this heavy loss together,” government spokeswoman Anocha Purapachesiri said.

Three boys and two girls survived the attack and all but one are in hospital, police said.

Late on Friday, King Maha Vajiralongkorn visited the hospital where the injured were taken.

The king, who was dressed in a dark gray suit, said he was deeply saddened and expressed his grief over what had been an “evil incident”.

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“There are no other words to describe this feeling,” he told people at the hospital.

“I want to give you all the moral support to be strong, so that the souls of these children can be relieved that their families will remain strong and be able to move on.”

Kitesak Polbrakan, 29, who was in the area at the time of the killing spree, on Friday described Banya as calm as he emerged from the daycare center after killing 22 preschoolers, wounding most of them with a large curved blade.

“I didn’t think a tragedy had happened,” he said. “It was so quiet.”

“There was no noise, no screaming, nothing. It was just him who came out.”

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On Saturday, people left toy flowers and toy trucks outside the Uthai Sawan day care center, in a display of the spirits of the dead.

At another temple, Wat Rat Samki, emotions were so intense, relatives cried while monks dressed in saffron chanted.

The villagers sat on rugs, their hands clasped together, in front of a series of chests decorated with flowers and pictures of smiling children killed in the ex-cop’s rampage.

A large sports car toy was placed on one of the coffins lined with gold-colored fabric bearing Buddhist symbols.

A woman dressed in black, missing two of her three-year-old nephews, was seen crying as she kneeled down, pressing one of their coffins.

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Tesla offers discounts. Are drivers bothering her cars?

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– And his stock – seems to be growing. The latest might be among the company’s biggest concerns.

Bernstein analyst Tony Sacconaghi Tuesday wrote that

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Tesla

(Stock ticker: TSLA) “There appears to be a growing demand problem.”

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US Banks Warn of Recession as Inflation Hurts Consumers Stocks Fall By Reuters

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© Reuters. FILE PHOTO: Workers are seen in the windows of the JP Morgan offices in Canary Wharf, London on September 19, 2013. REUTERS/Neil Hall/File Photo

By Saeed Azhar and Noor Zainab Hussain

NEW YORK (Reuters) – The largest U.S. banks are bracing for a downturn in the economy next year as inflation threatens consumer demand, executives said on Tuesday.

Consumers and businesses are doing well, Jamie Dimon, CEO of JPMorgan Chase & Co (NYSE: NYSE), told CNBC, but noted that may not last for much longer as the economy slows and inflation erodes consumer spending power.

“Those things could derail the economy and cause this moderate to severe recession that people are concerned about,” he said.

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He told CNBC that consumers have $1.5 trillion in excess savings from pandemic stimulus programs, but they could run out some time in the middle of 2023. Dimon also said the Fed could pause for three to six months after raising benchmark interest rates to 5%, But this may “not be enough” to rein in high inflation.

The US central bank last month raised interest rates by 75 basis points during its fourth consecutive meeting to 3.75%-4%, but also signaled hopes of switching to smaller increases as soon as at its next meeting.

Major bank stocks fell sharply the next day after a group of senior bankers outlined risks to the economy. Bank of America (NYSE:) stock fell more than 4%. Goldman Sachs Group Inc (NYSE:) and Morgan Stanley (NYSE::) both fell by more than 2% and Citigroup Inc (NYSE:) fell more than 1%.

Bank of America CEO Brian Moynihan told investors at a Goldman Sachs financial conference that the bank’s research shows “negative growth” in the first part of 2023, but that the contraction will be “moderate.”

Moynihan said the lender’s investment banking fees will likely fall 55% to 60% in the fourth quarter from a year earlier, while trading revenue will likely rise 10% to 15%.

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“Economic growth is slowing,” Goldman Sachs CEO David Solomon said at the same conference. “When I talk to our customers, they sound very careful.”

He said the job market in the banking sector remains “surprisingly tight” and competition for talent “as tough as ever”.

However, some banks are cutting staff. A source familiar with the company’s plans said Tuesday that Morgan Stanley has cut about 2% of its workforce. The job cuts, first reported by CNBC, affected about 1,600 jobs and track workforce cuts at Goldman and Citigroup.

Elsewhere on Wall Street, BlackRock Inc., the world’s largest asset manager (NYSE:) froze hiring except for critical roles, CFO Gary Shedlin said.

“We’re trying to be more prudent,” he said.

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Stocks fluctuate as investors ponder the course of prices

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Next week’s Federal Reserve decision and inflation figures may provide more clarity on interest rates

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