
Asian Stocks to Extend Losses on Geopolitical Risk: Markets Wrap
Asian stocks are poised to fall as volatility gripped Wall Street with traders looking for signs of a
2023-10-20 06:47

Starbucks union wants to enlist customers to organize pickets
By Hilary Russ NEW YORK Pro-union baristas at Starbucks are taking their campaign on the road on Monday
2023-07-10 18:27

Swiss energy rescue helps fuel wider 2024 budget deficit forecast
ZURICH Switzerland expects its budget deficit to widen to 6.7 billion Swiss francs ($7.46 billion) next year due
2023-06-28 22:26

Google Is Raising the Price of Nest Aware and Aware Plus
Nest Aware and Aware Plus customers are about to pay a bit more for the
2023-09-03 05:18

Vermont will pay $16.5M to settle lawsuits by foreign investors in fraudulent ski developments
The state of Vermont has agreed to pay $16.5 million to settle all pending and potential lawsuits against it from foreign investors in development projects at the Jay Peak resort
2023-07-06 06:51

Analysis-Hungry investors queue up as Japan's BOJ lifts yields bit by bit
By Kevin Buckland and Ankur Banerjee SINGAPORE/TOKYO Japan's government bond market has turned into a cat-and-mouse arena for
2023-08-01 16:23

Nautilus Insurance Group Names Rob Petronko Chief Financial Officer
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Oct 16, 2023--
2023-10-16 23:19

First self-driving urban ferry sets sail in Stockholm
A self-driving electric ferry set sail in Stockholm on Thursday, making the Swedish capital the world's first city to put the technology to use...
2023-06-09 03:50

The S&P 500 is in a bull market. Here's what that means and how long the bull might run
The S&P 500 is now in what Wall Street refers to as a bull market, meaning the index has risen 20% or more from its most recent low
2023-06-09 05:16

Ahead of House debt ceiling vote, Biden shores up Democrats and McCarthy scrambles for GOP support
Hard-fought to the end, the debt ceiling and budget cuts package is heading toward a crucial U.S. House vote as President Joe Biden and Speaker Kevin McCarthy assemble a coalition of centrist Democrats and Republicans to push it to passage over fierce blowback from conservatives and some progressive dissent. Biden is sending top White House officials to meet early Wednesday at the Capitol to shore up support ahead of voting. McCarthy is working furiously to sell skeptical fellow Republicans, even fending off challenges to his leadership, in the rush to avert a potentially disastrous U.S. default. Despite deep disappointment from right-flank Republicans that the compromise falls short of the spending cuts they demanded, McCarthy insisted he would have the votes needed to ensure approval. “We’re going to pass the bill,” McCarthy said as he exited a lengthy late Tuesday night meeting at the Capitol. Quick approval by the House and later in the week the Senate would ensure government checks will continue to go out to Social Security recipients, veterans and others, and prevent financial upheaval at home and abroad. Next Monday is when Treasury has said the U.S. would run short of money to pay its debts, risking an economically dangerous default. The package leaves few lawmakers fully satisfied, but Biden and McCarthy are counting on pulling majority support from the political center, a rarity in divided Washington, testing the leadership of the president and the Republican speaker. Overall, the 99-page bill restricts spending for the next two years, suspends the debt ceiling into January 2025 and changes policies, including new work requirements for older Americans receiving food aid and greenlighting a controversial Appalachian natural gas line that many Democrats oppose. For more than two hours late Tuesday as aides wheeled in pizza at the Capitol, McCarthy walked Republicans through the details, fielded questions and encouraged them not to lose sight of the bill’s budget savings. The speaker faced a sometimes tough crowd. Leaders of the hard-right House Freedom Caucus spent the day lambasting the compromise as falling well short of the spending cuts they demand, and they vowed to try to halt passage by Congress. “This deal fails, fails completely," Rep. Scott Perry, R-Pa., the chairman of the Freedom Caucus, said earlier in the day, flanked by others outside the Capitol. “We will do everything in our power to stop it.” A much larger conservative faction, the Republican Study Committee, declined to take a position. Even rank-and-file centrist conservatives were not sure, leaving McCarthy desperately hunting for votes. Rep. Nancy Mace, R-S.C., said after the “healthy debate” late into the night she was still a no. Ominously, the conservatives warned of potentially trying to oust McCarthy over the compromise. “There’s going to be a reckoning,” said Rep. Chip Roy of Texas. Biden was speaking directly to lawmakers, making more than 100 one-on-one calls, the White House said. The nonpartisan Congressional Budget Office said the spending restrictions in the package would reduce deficits by $1.5 trillion over the decade, a top goal for the Republicans trying to curb the debt load. McCarthy told lawmakers that number was higher if the two-year spending caps were extended, which is no guarantee. But in a surprise that could further erode Republican support, the GOP's drive to impose work requirements on older Americans receiving food stamps ends up boosting spending by $2.1 billion over the time period. That's because the final deal exempted veterans and homeless people, expanding the food stamp rolls by some 78,000 people monthly, the CBO said. House Democratic leader Hakeem Jeffries said it was up to McCarthy to turn out votes from some two-thirds of the Republican majority, a high bar the speaker may not be able to reach. Some 218 votes are needed for passage in the 435-member House. Still, Jeffries said the Democrats would do their part to avoid failure. “It is my expectation that House Republicans would keep their promise and deliver at least 150 votes as it relates to an agreement that they themselves negotiated,” Jeffries said. “Democrats will make sure that the country does not default.” Liberal Democrats decried the new work requirements for older Americans, those 50-54, in the food aid program. And some Democratic lawmakers were leading an effort to remove the surprise provision for the Mountain Valley Pipeline natural gas project. The energy development is important to Sen. Joe Manchin, D-W.Va., but many others oppose it as unhelpful in fighting climate change. The top Democrat on the House Natural Resources Committee, Rep. Raul Grijalva of Arizona, said including the pipeline provision was “disturbing and profoundly disappointing.” Rep. Pramila Jayapal, D-Wash., chair of the Congressional Progressive Caucus, had this warning for McCarthy: “He got us here, and it’s on him to deliver the votes." Wall Street was taking a wait-and-see approach. Stock prices were mixed in Tuesday's trading. U.S. markets had been closed when the deal was struck over the weekend. The House aims to vote Wednesday and send the bill to the Senate, where Democratic Majority Leader Chuck Schumer and Senate Republican leader McConnell are working for passage by week's end. Schumer called the bill a “sensible compromise.” McConnell said McCarthy “deserves our thanks.” Senators, who have remained largely on the sidelines during much of the negotiations between the president and the House speaker, began inserting themselves more forcefully into the debate. Some senators are insisting on amendments to reshape the package from both the left and right flanks. But making any changes to the package at this stage seemed unlikely with so little time to spare before Monday's deadline. ___ Associated Press writers Farnoush Amiri, Mary Clare Jalonick and Seung Min Kim contributed to this report. Read More Ukraine war’s heaviest fight rages in east - follow live Charity boss speaks out over ‘traumatic’ encounter with royal aide Changes to food aid in debt bill would cost money, far from savings GOP envisioned GOP chairman moves to hold FBI director Wray in contempt over Biden doc Debt limit agreement clears first hurdle. Here’s what happens next
2023-05-31 12:53

Judge's ruling advances plan to restructure $10 billion debt of Puerto Rico's power company
A federal judge has tentatively approved a portion of the newest plan to restructure $10 billion of debt owed by Puerto Rico’s power company amid heated negotiations between creditors and the U.S. territory’s government
2023-11-15 07:23

Get a $30 lifetime license for Microsoft Office for Mac or Windows
TL;DR: As of July 2, you can get a lifetime subscription to Microsoft Office Home
2023-07-02 18:00
You Might Like...

US auto workers, companies face off on day two of strike

US escalates trade dispute with Mexico over limits on genetically modified corn

Ex-Bridgewater Executive to Launch Eight Hedge-Fund Style ETFs

Blinken Blames Hamas for End of Gaza Truce as Fighting Ramps Up

IMF board approves $1.8 billion for Senegal, frees $216 million immediately

Stellantis Profit Beats as CEO Says More Costs Cuts to Come

Apple engineer from China among US tech theft cases

Church Pension Group Hosts Annual Conversation on Its Vision, Finances, and Work