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How the U.S. Humanitarian Pier in Gaza Will WorkA humanitarian pier the U.S. military will bring to the Gaza Strip is currently being assembled and is expected to be ready to receive initial shipments of food and other aid early next month, according to military officials. Pier At the pier, loaded aid trucks are driven to Gaza’s shore. Gaza Strip EMPTY TRUCKS return to the pier Humanitarian partners will pick up aid near the shore to take it into the Gaza Strip. Pier At the pier, loaded aid trucks are driven to Gaza’s shore. Gaza Strip EMPTY TRUCKS return to the pier Humanitarian partners will pick up aid near the shore to take it into the Gaza Strip.

Persons: Juan Camilo Jimenez Garces, Trucks, OCHA, U.N, David Satterfield, Israel Organizations: United Nations, U.S . Agency for International Development, Military, Aid, Spanish, BANK, New York Times Ships, Army, New York Times, Food, WFP GAZA, United Nations Office, Humanitarian, New York Times Aid, Hamas, U.S Locations: U.S, Gaza, Larnaca, Cyprus, Dubai, Kenya, Europe, CYPRUS Larnaca, BANK GAZA, ISRAEL EGYPT, LEBANON, Israel, United States, Med, ISRAEL Rafah, Shalom, Egypt, Israel’s

☆ Dept. of Homeland Security embraces AI and other federal agencies are likely to follow
▼ + stars: | 2024-04-17 | by ( Bob Violino | ) www.cnbc.com time to read: +3 min

Homeland Security Secretary Alejandro Mayorkas speaks during the third annual Axios What's Next Summit at the Planet Word Museum on March 19, 2024 in Washington, DC. When the White House issued an executive order last October to promote safe and responsible development and use of artificial intelligence in the federal government, one of the first agencies to say it was on board the AI train was the Department of Homeland Security. In one pilot, Homeland Security Investigations (HSI) will test AI to help in investigative processes focused on detecting fentanyl and combatting child exploitation. The unprecedented speed and potential of AI's development and adoption presents both opportunities and risks, according to Alejandro Mayorkas, Secretary of Homeland Security. What DHS learns from the pilot projects will be beneficial in shaping how it can effectively and responsibly use AI across homeland security moving forward, he said.

Persons: Alejandro Mayorkas, Biden, Mayorkas, — Organizations: Word, White House, Department of Homeland Security, Homeland Security Investigations, Federal Emergency Management Agency, FEMA, United, United States Citizenship, Immigration Services, Homeland Security, DHS, Mayorkas, Republican Locations: Washington ,, United States

☆ China's internet is filled with well-wishes for earthquake-stricken Taiwan — and veiled references that the PLA can help
▼ + stars: | 2024-04-03 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Taiwan's 7.2-magnitude earthquake has drawn seemingly friendly messages on China's social media. But they're also indicative of China's ambitions for Taiwan, and what Chinese people think of the island. AdvertisementA 7.2-magnitude earthquake that hit Taiwan on Wednesday morning prompted a wave of concerned messages on mainland China's social media, diverting from the usual hostile rhetoric toward the self-governed island. Like many of China's social media platforms, Weibo is heavily censored and moderated. However, kinetic conflict is still widely viewed on social media as only one of several options for unification.

Persons: they're, —, Fabian Hamacher, Xi Jinping, Zhang Yongjin, Xi Organizations: Service, Wednesday, Reuters, REUTERS, Business, Taiwan, People's Liberation Army, PLA, Getty, Observers Locations: Taiwan, Hualien, New Taipei City, Weibo, Beijing, China, Shiyuan Township, Jishishan County, Gansu Province, Xinhua, Sichuan, Taipei

☆ Middle East Crisis Israeli Military Takes Responsibility for Strike That Killed 7 Aid Workers
▼ + stars: | 2024-04-03 | by ( Ben Shpigel | Cassandra Vinograd | ) www.nytimes.com time to read: +8 min

A car used by World Central Kitchen that was hit by a strike in Deir al Balah in the central Gaza Strip. The Israeli military had been informed of the aid workers’ movements, the charity said. The World Central Kitchen logo could be seen on items inside the charred interiors of the northernmost and southernmost cars. Mr. Abutaha and other World Central Kitchen workers were thrilled to have the opportunity to unload the desperately needed food aid. The World Central Kitchen aid ship is headed back to Cyprus.

Persons: Deir al Balah, José Andrés, Benjamin Netanyahu, Israel, ”, Erin Gore, Anthony Albanese, Zomi, Penny Wong, Damian Sobol, Wojciech Bakun, Zomi Frankcom, Associated Press David Cameron, John Chapman, James Henderson, James Kirby, Chapman, Henderson, Jacob Flickinger, Saif Abutaha, Abutaha, Shadi, “, Cameron, Israel “, Jamie McGoldrick, Haitham Imad, Mr, Netanyahu, ” Mr, Herzi Halevi, Daniel Hagari, Jennifer, Theodoros Gotsis, Gotsis, Patrick Kingsley, Rawan Sheikh Ahmad, Gabby Sobelman, Matina, Lauren Leatherby, Nader Ibrahim, Kim Severson Organizations: Central Kitchen, The New York Times, ”, ., Free Place Foundation, Associated Press, BBC, James Kirby . Local, Royal Marines, Palestine Red Crescent Society, Central, West Bank, Najjar, United Nations, Agence France, Cypriot Locations: Deir al, Gaza, Spanish, Deir al Balah, Al, Rashid, Palestinian, United States, Canada, Australia, Britain, Poland, Australian, Polish, Przemysl, British, James Kirby . Local British, Palestine, Egypt, Israel, Rafah, Cyprus, Cypriot, Larnaca

☆ What We Know About the Israeli Strike That Killed 7 Aid Workers in Gaza
▼ + stars: | 2024-04-02 | by ( Adam Rasgon | Aaron Boxerman | ) www.nytimes.com time to read: +1 min

Seven aid workers with World Central Kitchen were killed in the Gaza Strip when their convoy came under fire on Monday night, according to the aid organization and Gazan health officials. The disaster relief organization, founded by the Spanish chef José Andrés, said the convoy was hit in an Israeli strike. The Israeli military had been informed of the aid workers’ movements, the charity said. Aid workers had just unloaded more than 100 tons of food brought to Gaza by sea at the warehouse, according to the group. The imagery shows three destroyed white vehicles, with the northernmost and southernmost vehicles nearly a mile and a half apart.

Persons: José Andrés, Benjamin Netanyahu, Israel, ” Organizations: Central Kitchen, The New York Times Locations: Gaza, Spanish, Deir al Balah

☆ Founder of World Central Kitchen Says Several Workers Killed in Gaza Airstrike
▼ + stars: | 2024-04-01 | by ( Daniel Victor | More About Daniel Victor | ) www.nytimes.com time to read: +1 min

International aid workers from World Central Kitchen, a disaster relief nonprofit that has become a crucial source of food for desperate Gazans, were killed in an airstrike in Gaza, according to José Andrés, the chef who founded the organization. Mr. Andrés said on the X platform that “several of our sisters and brothers” were killed in the airstrike, which was reported late Monday in Deir al-Balah, a city in central Gaza. He said the Israeli military had carried out the strike, though that could not be immediately confirmed. Some of the victims wore protective gear with visible World Central Kitchen patches. The Israeli military said in a statement early Tuesday that it was “conducting a thorough review at the highest levels to understand the circumstances of this tragic incident.”

Persons: José Andrés, Andrés, ” Locations: Gaza, Deir al, Poland, Australia, Britain

☆ Second largest wildfire in Texas history has scorched 850,000 acres
▼ + stars: | 2024-02-29 | by ( Joe Sutton | Steve Almasy | ) edition.cnn.com time to read: +6 min

A satellite image shows Fritch, Texas in August 2023. Maxar Technologies Satellite images show homes in Fritch, Texas, before the wildfire (in August 2023), and after (on Wednesday). Maxar Technologies Satellite images show homes in Fritch, Texas, before the fire (in August 2023), and after (on Wednesday). A sudden shift of wind direction in the Texas panhandle this week contributed to the explosion in size of the Smokehouse Creek wildfire. Latest developments* The Smokehouse Creek Fire grew from 500,000 acres to 850,000 on Wednesday, according to fire officials.

Persons: Joyce Blankenship, Fritch, ” Frank Probst, ”, “, Adam Turner, Snow, Andy Holloway, Greg Abbott, Kevin Stitt, ” Hutchinson, Tyler McCain, Fritch’s, McCain, Addison, Addison can’t, ” McCain, Windy Deuce, Probst, CNN’s Caroll Alvarado, Amanada Jackson, Monica Garrett, Sharif Paget, Sara Tonks, Lucy Kafanov, Andi Babineau Organizations: CNN, Maxar, M Forest Service, AgriLife, Texas, Oklahoma Gov, Amarillo National Bank, Panhandle Disaster Relief Locations: Texas, Rhode, state’s, Oklahoma, Stinnett ., , Texas, Fritch , Texas, Hemphill, Hemphill County, Canadian, Amarillo, Amarillo ., Hutchinson County, Stinnett, Borger, Fritch

☆ Russia accused a Russian-American ballerina of treason after she donated $51 to Ukraine
▼ + stars: | 2024-02-21 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

Kseniya Karelina donated $51.80 to a US-based Ukrainian charity in February 2022. Russia accused Karelina of raising funds for the Ukrainian military to buy weapons and equipment. AdvertisementA Russian-American ballerina was accused of treason by Russian authorities after donating to a Ukrainian charity. Karelina had reportedly donated $51.80 to a US-based Ukrainian charity Razom for Ukraine in February 2022, according to Russian legal rights group, Perviy Otdel. The FSB accused Gershkovich of "trying to obtain secret information" and that he was acting "on the instructions of the United States."

Persons: Kseniya Karelina, Karelina, —, Kseniya, Razom, Evan Gershkovich, Gershkovich Organizations: Service, Russian Federal Security Service, Armed Forces of, NBC, Wall Street Locations: Russia, Ukrainian, Los Angeles, Armed Forces of Ukraine, Ukraine, United States

Historically, Asian Americans have been stereotyped as more brains than brawn or treated as foreigners in U.S. sports. Growing up Asian and Black American or “Blasian” in Orange County, California, Remigio didn't feel a sense of belonging. Historically, in U.S. sports, Asian American men have been treated as outsiders and their masculinity questioned. Asian Americans are always kind of troubling and in this liminal space of a black-white binary, even in sports.”Arnaldo, who co-edited the book “Asian American Sporting Cultures,” said it makes business sense for the NFL to try to appeal to Asian American spectators. There are at least two dozen NFL players of Asian or Pacific Islander descent, according to AMAZN HQ, an online hub curating news on Asians and Asian Americans in sports.

Persons: Nikko Remigio, Travis Kelce, Taylor Swift, haven't, grandpa —, ”, Remigio, HEE, Manumalo, Troy Polamalu, Tua Tagovailoa, Muasau, Jake, “, ” Muasau, “ They’re, ” Remigio, Constancio Arnaldo Jr, ” Arnaldo, Eugene Chung, Younghoe Koo, Camryn Bynum, Bynum, Instagram, they're, Tang Organizations: Nikko, Super Bowl, Kansas City Chiefs, NFL, The League, Las Vegas, Pacific, Asian American Foundation, New York Giants, Tennessee Titans, Pittsburgh Steelers, Miami Dolphins, University of Nevada, Sporting, Football, NBA, Major League Baseball, Korean, The Institute, Diversity, Pacific Islanders, Atlanta Falcons, South, Minnesota Vikings Locations: Las Vegas, Philippines, Kansas, Pacific, Hawaiian, Hawaii, Tua, he's, Orange County , California, Asia, Mexican American, South Korea, California, Berkeley, Phoenix, @ttangAP

☆ This is the world’s rarest passport
▼ + stars: | 2024-02-01 | by ( Lola Méndez | ) edition.cnn.com time to read: +7 min

CNN —The Sovereign Military Order of Malta – also known as the Knights of Malta – isn’t just a religious Catholic order with nearly 1,000 years of history. After World War II, the use of the diplomatic passport took on characteristics of passports used in other countries. Today, there are only around 500 of the diplomatic passports in circulation – making it the rarest passport in the world. robertharding/Alamy Stock Photo“The Order grants passports to members of their government for the duration of their mandate,” de Petri Testaferrata says. Once when I arrived at the Bangkok airport, a crowd of operators at passport control wanted to see my rare passport and take a selfie with it,” Balfour tells CNN.

Persons: Malta –, It’s, King, Spain, Napoleon Bonaparte, Daniel de Petri Testaferrata, Angelo, ” de Petri Testaferrata, Marianna Balfour, “ They’ve, ” Balfour, De Petri Testaferrata, John Kellerman, Anne, de Valette, Paschal II, ” Dane Munro, Don’t, Grand, Michelangelo Merisi da Caravaggio, Caravaggio, St John’s, St John ”, Finnbarr Webster, Casa Rocca Piccola, de Piro, Munro, Marquis Nicholas de Piro, Knight of Malta Don Pietro Rosselli Organizations: CNN, Knights, Knights of Malta – isn’t, United Nations, Sovereign Council, Souverain, Fort, UNESCO, “, Casa Magazzini, National Library of Malta, of, Supreme, Grand Masters, of Ambassadors, St, Maltese Association of Locations: Malta, Knights of Malta, Jerusalem, Maltese, Rome, of Malta, St, robertharding, Bangkok, France, United Kingdom, United States, Knights, Valletta, Mdina, Knight

Read previewThe House just passed a bill to expand the child tax credit , bringing the relief one step closer to parents. On Wednesday night, the House passed the Tax Relief for American Families and Workers Act of 2024 by a vote 357-70, which aims to boost the child tax credit, implement low-income housing credits and disaster relief, and give businesses an R&D tax break, among other things. AdvertisementThe legislation — a rare bipartisan feat — would both boost the child tax credit and offer GOP-friendly tax relief for businesses that invest in research and development, among other measures. The refundable child tax credit would be increased from $1,600 a child to $1,800 in 2023 and would rise to $2,000 by 2025. Some GOP lawmakers were upset with the expansion of the child tax credit, along with the advancement of the tax package while other conservative priorities remained stalled.

Persons: —, Mike Johnson, Karine Jean, Pierre, Jean, Pierre said, Chip Roy, Jimmy Failla Organizations: Service, Relief, American Families and Workers, Business, GOP, Budget, Tax, White House Press, Fox, Senate Locations: Washington

☆ Dozens Missing in Landslide in Southwest China's Yunnan Province
▼ + stars: | 2024-01-21 | by ( Jan. | At P.M. | ) www.usnews.com time to read: 1 min

BEIJING (Reuters) - A landslide in a city in the northeast of China's Yunnan province has left at least 47 people unaccounted for and rescue operations were currently underway, Chinese state media said on Monday. At about 5:51 a.m. (2151 GMT), a landslide hit the city of Zhaotong and local government officials launched a disaster relief emergency response, the People's Daily reported. It's not clear what caused the landslide. Yunnan, in southwest China, is among several provinces in the country's southern region currently experiencing a cold wave and bitter temperatures near or below freezing, according to the National Meteorological Centre. (Reporting by Bernard Orr and Qiaoyi Li; Editing by Christian Schmollinger)

Persons: Bernard Orr, Qiaoyi Li, Christian Schmollinger Organizations: National Meteorological Centre Locations: BEIJING, China's Yunnan, Zhaotong, Yunnan, China

☆ US Launches Disaster Relief Reforms as Climate-Driven Events Rise
▼ + stars: | 2024-01-19 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

WASHINGTON (Reuters) - U.S. President Joe Biden's administration on Friday said it was launching the most major reforms to disaster management relief in two decades as climate change-driven extreme weather events, such as floods and fires, increase. The Federal Emergency Management Agency (FEMA) reforms of its federal assistance policies and expanded benefits for disaster survivors aim to cut red tape that victims have said makes it difficult for them to access resources after a disaster. FEMA said the reforms follow feedback from disaster survivors. Previously, the payment was assessed on a disaster-to-disaster basis. FEMA said the changes will take effect for new disasters declared on, or after March 22, 2024.

Persons: Joe Biden's, ”, Deanne, Valerie Volcovici, Sharon Singleton Organizations: WASHINGTON, Federal Emergency Management Agency, FEMA, U.S, Small Business Administration Locations: U.S, Maui, California

☆ Bipartisan tax bill clears key congressional hurdle, teeing up potential House vote
▼ + stars: | 2024-01-19 | by ( Emily Wilkins | ) www.cnbc.com time to read: +3 min

The package released earlier this week was the result of a rare, bipartisan agreement between Republican House Ways and Means Chair Jason Smith (Mo.) To help win more Democratic support, the bill also expands the child tax credit by adjusting it for inflation and allowing Americans who don't have a tax bill to get the credit as a refund, among other changes. In addition to Friday's committee vote, the White House also came out in support of the legislation. In the end, Blumenauer said he would "reluctantly" vote for the bill, but wanted to see the child tax credit expanded further. House Speaker Mike Johnson had yet to confirm when, or even if, he would bring the bill to the House floor for a vote.

Persons: WASHINGTON, Jason Smith, Ron Wyden, Karine Jean, Pierre, Earl Blumenauer, Blumenauer, Mike Johnson, Smith, Wyden Organizations: Business, of Commerce, National Association of Manufacturers, Republican, Democratic, White, Oregon Democrat Locations: Taiwan, Mo, Oregon

☆ Congress announces tax deal to expand child tax credit and revive breaks for businesses
▼ + stars: | 2024-01-16 | by ( Sahil Kapur | Kate Santaliz | ) www.cnbc.com time to read: +3 min

WASHINGTON — Senior lawmakers in Congress announced a bipartisan deal Tuesday to expand the child tax credit and provide a series of tax breaks for businesses. The deal, details of which were reported earlier by NBC News, would enhance refundable child tax credits in an attempt to provide relief to financially struggling and multi-child families. Democrats had demanded a larger child tax credit after an earlier version they passed for less than one year expired, causing child poverty to fall and then rise again after it lapsed. And Republicans were motivated to revive some expired portions of the 2017 Trump tax cuts for businesses. Wyden has said he hopes to pass the deal by the beginning of tax filing season, which is Jan. 29.

Persons: Cara Baldari, Evie, Sarah Orrin, Vipond, Otto, Jason Smith, Ron Wyden, Smith, " Wyden, Wyden, That's Organizations: D.C, U.S, Capitol, WASHINGTON —, Congress, NBC News, American Locations: China

On Monday, Prince Abdulaziz bin Salman, energy minister and the key climate negotiator, for the kingdom, was a no-show at the Saudi Green Initiative. "The climate finance that they have pledged at this COP28 is simply not enough," said Pakistani activist Zaigham Abbas, whose country was devastated last year by widespread flooding. Elsewhere, France and Japan said they would support a move by the African Development Bank to leverage IMF Special Drawing Rights for climate and development. This year also features the biggest-ever representation of business at the annual U.N. summit, amid hopes for more private investment toward climate causes. "The scale of the climate crisis demands urgent and game-changing solutions from every industry," COP28 President Ahmed Al-Jaber said.

Persons: COP28, Johanna Geron, Prince Abdulaziz bin Salman, Crown Prince Mohammad bin Salman, Nicholas Stern, Mia Mottley, Antonio Guterres, Zaigham Abbas, Abu Dhabi, Ahmed Al, Jaber, Simon Jessop, Maha El, Al Sayegh, Alexander Cornwell, Elizabeth Piper, David Stanway, Katy Daigle Organizations: of, European Union, REUTERS, Companies, Saudi, United, United Arab Emirates, Saudi Green Initiative, Crown, Grantham Research, Asian Peoples ' Movement, Development, African Development Bank, European Bank for Reconstruction, Copenhagen Infrastructure Partners, BlackRock, HSBC, Finance, Reuters, Thomson Locations: Dubai, Brussels, Belgium, Companies UAE, DUBAI, COP28, United Arab, Saudi Arabia, Sharm el, Sheikh, Egypt, Paris, China, Grantham, Barbados, France, Japan, Copenhagen, Abu

Helping these countries, which face some of the biggest risks from climate change, access these will be a key aim during the COP28 climate talks underway in Dubai. Ambitions for results at COP28 got off to a good start on the opening day on Thursday when countries approved plans for the climate disaster fund, after months of negotiations. About 60% of low-income countries are either in or at high risk of debt distress, the CDP said. The Central Asia Regional Economic Cooperation Program, for example, aims to agree a disaster relief bond issuance and a regional risk transfer facility, the ADB's Principal Disaster Risk Insurance and Finance Specialist, Thomas Kessler, told Reuters. "We are ready to scale up climate protection through early warning systems, anticipatory cash, climate insurance and community-based resilience projects," said Gernot Laganda, director of Climate and Disaster Risk Reduction at the United Nations World Food Programme.

Persons: COP28, Ekhosuehi Iyahen, IDF's Iyahen, Michèle Plichta, Lydia Poole, Odile Renaud, Basso, Thomas Kessler, Otis, Gernot Laganda, Alessandro Parodi, Simon Jessop, Libby George, Karin Strohecker, Susan Fenton Organizations: Insurance, Forum, PAF, Disaster, European Bank for Reconstruction, Global, Swiss, Central Asia Regional Economic Cooperation, Finance, Reuters, UN, University of Cambridge's Institute for Sustainability Leadership, United Nations, Food, Thomson Locations: GDANSK, LONDON, Dubai, London, Mexico

Supporting nonprofits on GivingTuesday this year could have a bigger impact than usual. Many nonprofits will run matching campaigns, meaning a supporter has pledged to double or sometimes triple the donation of other, smaller donors. That would follow the trend of charitable giving in 2022, which dropped for only the fourth time in 40 years. Other nonprofits, though, aim to rally support from the communities they seek to serve, and GivingTuesday can help with that. ___Associated Press coverage of philanthropy and non-profits receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc.

Persons: Tim Pries, “, ” Pries, Amy Pirozzolo, ” Pirozzolo, Natasha Andrews, they've, ”, Ciara Coleman, ” Coleman, Jacob Qualls, he's, Qualls Organizations: Area, Fidelity Charitable, DAF, Fidelity, National, of America, Alpha Phi Alpha, mater, Morehouse College, Associated, Lilly Endowment Inc, AP Locations: Indiana, Fort Wayne, New Orleans, Chicago

Climate Change Conference (COP 28) that opens on Nov. 30 in Dubai. Neither floods nor fires are new to Greece but with climate change, they are becoming a frequent disruptor to an economy dependent on tourism and farming. "We have to change our prediction methods," Skylakakis said, acknowledging the rapid pace of climate change. Mitsotakis has urged the EU to top up its solidarity fund and help countries tackle the impact of climate change. Adaptation measures worth 67 billion euros could reduce that loss to 510 billion euros, the country's leading economic think tank IOBE said in a February report.

Persons: Louisa Gouliamaki, Dimitris Kouretas, Kouretas, Theodore Skylakakis, Storm Daniel, Kostas Agorastos, Giorgos Stasinos, Kyriakos Mitsotakis, Sokratis Famellos, Skylakakis, Thanos Giannakakis, Nikos Papathanasis, Miltiadis Gkouzouris, Mitsotakis, Petros Varelidis, Lefteris Papadimas, Renee Maltezou, Michele Kambas, Daniel Flynn Organizations: Reuters, United Nations Environment Program, Mount Olympus, HVA, Chamber, European, Justice, EU, Water Management, Environment Ministry, Thomson Locations: Vlohos, Greece, Greece's, Thessaly, Europe, Dubai, Los Angeles, Dutch, Athens, Thessaly's, Mouzaki, Netherlands

The lawsuit, filed Friday, accuses Sen. Kevin Parker of assaulting her in 2004, during his first term. The suit was filed under the Adult Survivors Act, a special state law that created a yearlong suspension of the usual time limit for accusers to sue. A spokesperson for Parker, a Democrat, did not immediately comment when asked about the lawsuit. New York state government has struggled for years with allegations about sexual harassment and misconduct by politicians. In 2013, former Assemblymember Vito Lopez, a Brooklyn Democrat, resigned over sexual harassment allegations that Assembly leadership had been covering up with secret payments.

Persons: Sen, Kevin Parker, Parker, Andrea Stewart, Cousins, ”, Mike Murphy, Andrew Cuomo, Assemblymember Vito Lopez, ___ Maysoon Khan, Maysoon Organizations: Democrat, Associated Press, New York Post, Brooklyn Democrat, America Statehouse News Initiative, America, Twitter Locations: ALBANY, N.Y, Brooklyn, Haiti, Caribbean, Haitian, York

☆ Goldman Sachs sees 'clear deficit' of iron ore for the rest of the year
▼ + stars: | 2023-11-10 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

The iron ore market is looking at a shortfall for the rest of the year due to low inventories and falling production, said Goldman Sachs. "Rather than facing a surplus for this year, the iron ore market is now set for a clear deficit," Goldman said in a recent report. The metal is primarily used to make steel, an important material in construction and engineering projects. That being said, Goldman remains cautious in ascribing too much optimism in the uptick of steel demand coming out of China's embattled property sector. China's property crisis has been one of the biggest spanner in the works in achieving a sustainable economic recovery.

Persons: Goldman Sachs, Goldman Locations: China's

☆ Biden Finalizes Significant Overhaul in Federal Regulations
▼ + stars: | 2023-11-09 | by ( Jim Tankersley | More About Jim Tankersley | ) www.nytimes.com time to read: +1 min

The Biden administration has overhauled how the federal government assesses the costs and benefits of regulation and some government spending programs, clearing a path for more aggressive efforts to fight climate change and help the poor. Officials at the White House Office of Information and Regulatory Affairs, a branch of the Office of Management and Budget, finalized a new and complicated set of rules on Thursday. They would change how federal agencies tally and weigh the potential value and harm of new regulations related to climate change, taxation, the distribution of disaster relief assistance and more. The federal government has long used so-called benefit-cost analysis when setting regulations that cover business activity, environmental pollution and much more. Its rules guiding those regulations were last changed during the George W. Bush administration, prompting many economists to complain that officials were not taking updated economic data and cutting-edge research into account when issuing regulations that can have vast consequences immediately and in the future.

Persons: Biden, George W, Bush Organizations: White, Office of Information, Regulatory Affairs, Management, Budget

☆ Don't count on interest rate cuts any time soon, the Fed says
▼ + stars: | 2023-11-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

The Fed continued its pause on interest rate hikes in November. Fed Chair Powell said interest rate cuts are not part of the discussion right now. AdvertisementAdvertisementThe Federal Reserve doesn't want Americans thinking an interest rate cut is coming anytime soon. On Wednesday, the nation's central bank announced it would be continuing its pause on interest rates hikes in November, following the pause in September. Democratic Rep. Brendan Boyle, ranking member of the House Budget Committee, said in a statement that "the Fed is right to continue the pause in interest rate hikes" but also "must avoid a costly overcorrection that could threaten this progress."

Persons: Powell, —, Jerome Powell, Brendan Boyle Organizations: Fed, Service, Federal, Democratic, Republicans Locations: Israel, Ukraine

☆ Stanley Druckenmiller says government needs to stop spending like 'drunken sailors,' cut entitlements
▼ + stars: | 2023-11-01 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

"We are spending like drunken sailors," Druckenmiller said on CNBC's "Squawk Box" Wednesday. Now it's 25% of GDP ... My father told me if you're in a hole, stop digging Stan." Despite his calls to cut overall spending, the widely followed investor stressed that it's necessary for the U.S. to support Ukraine and disagrees with Republicans urging to stop funding in that region. "I was actually happy to see when the announcement the support for Ukraine and Israel $106 billion," Druckenmiller said. Druckenmiller once managed George Soros' Quantum Fund and shot to fame after helping make a $10 billion bet against the British pound in 1992.

Persons: Stanley Druckenmiller, Druckenmiller, Stan, Putin, George Soros Organizations: Social, Duquesne Family Office, Social Security, Quantum Fund, Duquesne Capital Management Locations: Duquesne, Israel, Ukraine

☆ Walmart pledges $1 million aid for Israel victims
▼ + stars: | 2023-11-01 | by ( Siddharth Cavale | ) www.reuters.com time to read: +2 min

NEW YORK, Nov 1 (Reuters) - Walmart Foundation, the philanthropy arm of the U.S. retailer, has pledged $1 million to an Israeli disaster relief and emergency medical service organization. UBS , Goldman Sachs (GS.N) and Jefferies are among companies to have pledged aid to Israel. As the Israel-Hamas conflict intensifies, others, including billionaire Elon Musk, are providing aid in the Middle East in other ways. Walmart does not operate stores in Israel, but employs 171 people in the country who work for its tech arm Walmart Global Tech, its Walmart U.S. operations and its Flipkart business in India. Walmart said its donation follows a $1 million grant the Walmart Foundation pledged to the U.S.

Persons: Goldman Sachs, Jefferies, Magen David Adom, Ofer Saban, Elon Musk, SpaceX's, Saban, Siddharth Cavale Organizations: Walmart Foundation, UBS, Walmart, Walmart Global Tech, Walmart U.S, . Holocaust Museum, Thomson Locations: U.S, Jerusalem, Israel, Gaza, India, New York

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