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☆ 10 states with the biggest Biden infrastructure funding include key battlegrounds
▼ + stars: | 2024-05-13 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

U.S. President Joe Biden delivers remarks as part of his Investing in America agenda, during a visit to Gateway Technical College in Sturtevant, Wisconsin, U.S., May 8, 2024. Kevin Lamarque | ReutersThe Biden administration has announced $537 billion in infrastructure investments since the passage of landmark government funding bills, such as the Bipartisan Infrastructure Law, CHIPS Act and the Inflation Reduction Act. New state-by-state White House data released Monday offers a holistic portrait of how President Joe Biden has so far doled out that funding across the country. Several of the biggest awards went to battleground states that will be pivotal to the 2024 presidential election. US President Joe Biden visits the John A. Blatnik Memorial Bridge in Superior, Wisconsin, on January 25, 2024.

Persons: Joe Biden, Kevin Lamarque, Biden, Natalie Quillian, Mandel Ngan, Donald Trump, John A, Saul Loeb Organizations: Gateway Technical College, Reuters, Infrastructure Law, White, House, AFP, Getty Images, Trump, Commerce Department, Treasury Department, Federal Communications Commission, Law, Getty Locations: Sturtevant , Wisconsin, U.S, California, Texas, York, Florida, Pennsylvania, Illinois, Arizona, Maryland, Ohio, Michigan, Fern, Pittsburgh , Pennsylvania, Getty Images Pennsylvania, . Georgia, Superior , Wisconsin

☆ Some in State Department don’t believe Israel is using US weapons in accordance with international law, source says
▼ + stars: | 2024-04-28 | by ( Jennifer Hansler | Jack Forrest | ) edition.cnn.com time to read: +5 min

CNN —The State Department is divided over whether Israel is using American-provided weapons in accordance with international law ahead of a fast-approaching deadline next week for Secretary of State Antony Blinken to make a determination to Congress. Human rights groups have accused Israel of committing war crimes and abuses during the war in Gaza. The State Department official Sunday did not give further details about which parts of the department are in favor of accepting Israel’s assurances, which are in favor of rejecting them, and which took no position. “We don’t comment on leaked documents, especially those purporting to contain classified information,” State Department spokesperson Matthew Miller said in a statement. While the report does not represent the US government’s own conclusions, Blinken said last week that the State Department was looking at the incidents.

Persons: Antony Blinken, Israel, Joe Biden, Blinken, International Organization Affairs –, Matthew Miller, ”, Biden, Joe, Benjamin Netanyahu, Netanyahu, “, Lloyd Austin, Israel “ meritless, ” CNN’s Michael Conte, Kayla Tausche, MJ Lee Organizations: CNN, The State Department, ”, Hamas, Reuters, –, Human Rights, Labor, Justice, International Organization Affairs, Department, National, Israel, Foreign, Gaza’s Ministry of Health, Progressives, Sunday, Central, State, State Department, Armed Services Locations: Israel, Gaza, Western

☆ Senate advances long-awaited aid for Israel, Ukraine, Taiwan, and TikTok bill
▼ + stars: | 2024-04-23 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

Senators passed a crucial procedural vote with wide bipartisan support, signaling that the foreign aid package has the strength to pass a final vote. The funding includes roughly $60 billion for Ukraine aid, $26 billion for Israel and $8 billion for Taiwan and Indo-Pacific security. Spending-wise, the legislation is similar to the $95 billion foreign aid bill passed by the Senate in February, which has been effectively shelved in the House in the weeks since. TikTok has pushed back on this proposal since the House passed it over the weekend. Those political threats, along with an increasingly razor-thin House Republican majority led Johnson to effectively table the Senate's $95 billion foreign aid bill for weeks.

Persons: Charles Schumer, Chuck Schumer, Joe Biden, TikTok, Biden, Marjorie Taylor Greene, Mike Johnson, Johnson, Iran's, Donald Trump's, Trump, John Fredericks Organizations: U.S, Capitol, Senate, NBC News, House Republicans, Rep, Republican Locations: Israel, Ukraine, Taiwan

☆ Here’s what aid the House would provide Israel, Ukraine
▼ + stars: | 2024-04-17 | by ( Katie Lobosco | Tami Luhby | ) edition.cnn.com time to read: +3 min

CNN —House Republicans released the text of three bills Wednesday that would provide aid for Ukraine, Israel and the Indo-Pacific region, with the latter intended to help deter Chinese aggression in the area. Taken together, the House bills add up to about $95 billion in aid – the same amount the Senate bill included – with an adjustment that $10 billion in Ukraine economic assistance is in the form of a repayable loan, CNN has reported. Nearly $14 billion included in the bill would help Ukraine buy advanced weapons systems and other defense equipment. The Senate bill, by comparison, would provide $14.1 billion in assistance to Israel, including funds for missile defense systems and foreign military financing to help Israel reestablish territorial security and deterrence, and $9.2 billion in humanitarian aid. The Senate bill contained very similar provisions to bolster security in the region.

Persons: Joe Biden, Here’s what’s, Russia –, Israel, CNN’s Lauren Fox, Haley Talbot, Melanie Zanona Organizations: CNN — House Republicans, CNN, House Republicans, Ukraine, Israel, House, Foreign, United Nations Relief, Works Agency, Senate Locations: Ukraine, Israel, Russia, Iran, Taiwan

☆ Student-loan borrowers could see an easier repayment process through Biden's budget request — along with efforts to make college cheaper
▼ + stars: | 2024-03-11 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

It includes a $3.1 billion funding increase for the Education Department to help student-loan borrowers. AdvertisementPresident Joe Biden's budget wish list is out — and it includes boosted funding to help student-loan borrowers as they continue to navigate the return to repayment. Biden's budget request released on Monday outlines what his administration is seeking to prioritize in the final year of his first term. Additionally, the budget request proposes getting rid of student-loan origination fees, or fees a lender charges for processing a borrower's loan. However, many of the initiatives in Biden's budget request would require congressional approval, and with Republicans holding a majority in the House, it's unlikely it would pass in its current form.

Persons: —, Joe Biden's, Education James Kvaal, Pell Grant, Biden Organizations: Education Department, Service, Child, Social Security, Federal, Aid, Federal Student Aid, Education, College Fund, Republicans, Business, Management

☆ Mayorkas fires at Capitol Hill as Biden privately weighs new border action: ‘Congress needs to get a spine’
▼ + stars: | 2024-03-03 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Officials told NBC News in February that Biden is thinking about implementing harsher asylum standards without Congress. Mayorkas' comments adhere to the White House's current playbook on the border crisis: Publicly condemn Capitol Hill's deadlock on border policy while privately, the president weighs executive border actions. Both Biden and Trump visited southern border towns on Thursday, each attempting to play offense on the issue. That sent border policy reform back to the drawing board after already months-long negotiations. As border legislation remains at a stalemate in Congress, the Biden team is looking for a border victory without Capitol Hill's help.

Persons: Alejandro Mayorkas, Joe Biden, Joe Biden's, Mayorkas, Biden, Donald Trump, Trump, we're, Sen, J.D, Vance Organizations: Homeland, Sunday, Republican, NBC News, NBC, House Republicans, Publicly, Capitol, Biden, GOP, Republicans, Fox News, White Locations: U.S, Mexico, Brownsville , Texas, Brownsville

☆ Lenders are bailing out of commercial real estate as a wave of debt builds
▼ + stars: | 2024-01-30 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +10 min

Roughly $2.1 trillion of debt connected to commercial real estate assets, including office properties, apartment buildings, hotels, and retail spaces, will come due between now and the end of 2025 in the US, according to the real estate services firm JLL. The wave of maturities and the enormous equity shortfalls have raised concerns that a growing number of commercial real estate debts will fall into distress, forcing banks and other lenders to suffer losses. His group tracked about $15 billion of commercial property debt sales during the year, roughly three times the volume from 2022. Commercial real estate loans differ from residential mortgages taken by homeowners in that most are interest-only or pay down their principal balance minimally and span a decade or less. More banks are exploring loan salesBanks and other lenders generally aren't eager to seize the real estate assets that collateralize their debt.

Persons: Jerry, Stephen Scouten, Piper Sandler, it's, Kevin Aussef, Aussef, David Tobin, Marcus, Millichap, Synovus, Tobin, David Frosh, they're, Frosh, Fitch, David Blumberg, we'd, Blumberg, Daniel Geiger, Rob Verrone, Banks, You've, Bliss Morris, Morris Organizations: Amerant Bank, Business, Banking, CIBC, Mission, PacWest, HSBC, Fidelity, Funding Inc, Blackstone, Bloomberg, Broadway, Aon Center, 601W Companies, Iron Hound Management, First Financial Locations: Coral Gables , Florida, Houston, Canadian, Brookfield, Los Angeles, Columbus, Manhattan, Midland, Chicago, Oklahoma City, New York

☆ CSU faculty strike: Thousands of Cal State faculty walk off the job, beginning a massive five-day strike
▼ + stars: | 2024-01-22 | by ( Samantha Delouya | ) edition.cnn.com time to read: +4 min

Faculty and supporters picket during a strike at the California State University, Northridge campus in Los Angeles, California, US, on Monday, Jan. 22, 2024. Jill Connelly/Bloomberg/Getty ImagesVillanueva Bernal said one of her children attends a Cal State school, one of two public university systems in California. In a statement, Cal State said the CFA’s demand for a 12% raise, along with other economic demands, are “financially unrealistic.”“Their request far surpasses the state funding increase that the CSU received in last year’s state budget ($227 million) and is more than the entire budget of Cal Poly Pomona ($369 million),” Cal State said. The union has been bargaining with Cal State since May, and the university system has offered a 5% raise each year over three years. However, CFA has argued that Cal State can afford their proposals.

Persons: ”, “, Elaine Villanueva Bernal, Jill Connelly, Villanueva Bernal Organizations: Los Angeles CNN, California State University, California Faculty Association, ”, CFA, Cal State, CSU, Cal State University, Cal State University Long Beach, Faculty, Northridge, Los Angeles Times, Bloomberg, Getty, Cal Poly Pomona, Cal, management’s Locations: Cal State University Long, Los Angeles County, ”, Los Angeles , California, California

SAN FRANCISCO, Nov 10 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Friday that she agreed with Chinese Vice Premier He Lifeng to "intensify communication" on economic issues but warned him to crack down on Chinese companies that give material support to Russia for its war in Ukraine. "During our discussions, we agreed that in-depth and frank discussions matter, particularly when we disagree," Yellen said. "And I emphasized that the current uncertain global landscape makes it particularly crucial that we maintain resilient lines of communication going forward." "We would like to see China crack down on this, especially when we're able to provide information," Yellen said. Discussing the Israel-Hamas war, Yellen spoke of the need "to prevent escalation and expansion of the conflict in the Middle East," the Treasury said in a statement.

Persons: Janet Yellen, Lifeng, Yellen, Joe Biden, Xi Jinping, Carlos Barria, Donald Trump's, Liao Min, Liao, Eric Beech, David Lawder, Ann Saphir, Andrea Shalal, David Ljunggren, Chizu Nomiyama, Andrea Ricci, Grant McCool, Christian Schmollinger, Simon Cameron, Moore Organizations: FRANCISCO, . Treasury, Economic Cooperation, Communist Party, Treasury, U.S, APEC, REUTERS, Industrial, Commercial Bank of, Finance, Ministry of Finance, Fund, Thomson Locations: Russia, Ukraine, San Francisco, Asia, China, RUSSIA, Israel, U.S, San Francisco , California, Commercial Bank of China, Washington, Beijing, United States

☆ Student-loan forgiveness and cheaper monthly payments are on the line as the GOP's plan to slash Education Department funding moves forward
▼ + stars: | 2023-11-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

House Republicans proposed a bill to cut funding for the Education Department. AdvertisementAdvertisementFunding cuts could be coming for the Education Department, and key programs for student-loan borrowers are at risk. These funding cuts would come just over a month into federal student-loan borrowers' return to repayment after an over three-year pause. The GOP appropriations lawmakers, however, wrote that the "Department diverted taxpayer resources for its partisan, costly student loan policies, when it needed to be preparing for an orderly resumption of Federal student loan payments." "The Department repeatedly delayed the return to loan repayment, which generated uncertainty and undermined a timely and orderly restart of loan payments," they wrote.

Persons: —, Biden, Virginia Foxx, Ben Miller Organizations: Republicans, Education Department, Service, Labor, Health, Human Services, Education, Federal Student Aid, GOP

☆ UPenn notified the FBI about threatening antisemitic emails sent to university staff as wealthy donors threaten to pull funding
▼ + stars: | 2023-11-07 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +4 min

The University of Pennsylvania has involved the FBI after some staff received threatening antisemitic emails. AdvertisementAdvertisementThe University of Pennsylvania has notified the FBI about "vile" antisemitic emails sent to its university staff, amid the ongoing Israel-Hamas war and as donors threaten to pull funding. Penn Police also did a sweep of Penn Hillel and Lauder College House, but didn't find a credible threat at that point. AdvertisementAdvertisementPenn Hillel is the building where the activities of international Jewish campus organization Hillel are hosted at UPenn, while Lauder College House is a housing block. Other major donors to the university joined Rowan in pulling funding including former US diplomat Jon Huntsman, and billionaire businessmen Clifford Asness and Ronald Lauder, for whom Lauder College House is named.

Persons: —, Elizabeth Magill, Penn, Penn Hillel, Magill, Hillel, Apollo Global Management Marc Rowan, Scott Bok, Rowan, Jon Huntsman, Clifford Asness, Ronald Lauder, Asness, Bill Ackman, Ackman, Claudine Gay Organizations: University of Pennsylvania, FBI, Service, of Pennsylvania, Penn, Lauder College House, Penn Police, Jewish, Ivy League, Apollo Global Management, Rowan, Ivy League university, Harvard Locations: Israel, UPenn, Penn

☆ Biden is pouring $16 billion into making Amtrak trains faster, easier to get to, and more accessible
▼ + stars: | 2023-11-06 | by ( Juliana Kaplan | Eliza Relman | ) www.businessinsider.com time to read: +5 min

Biden is pouring $16.4 billion into passenger rail in the Northeast Regional corridor. AdvertisementAdvertisementPresident Joe Biden — a known proponent of Amtrak — wants trains to run faster and better. His administration is pouring $16.4 billion from the 2021 bipartisan infrastructure law into the Northeast Regional corridor to do just that. Meanwhile, 80% of Amtrak trains were on time in 2020 — and that fell to 74% by 2022. "We're all on our way to creating world-class passenger rail that benefits communities nationwide by making our rail systems safer, more efficient, and more convenient," Landrieu said.

Persons: Biden, —, Joe Biden —, Mitch Landrieu, Transportation Pete Buttigieg, Bill Flynn, Marc Molinaro, Landrieu Organizations: Service, Amtrak —, White, Penn, Transportation, Federal Railroad Administration, Amtrak, European Union, Northeast Corridor Commission, NEC, Infrastructure Investment, Jobs Act, Republicans, New, New York Republican, Republican Locations: Boston, Washington, Baltimore, New York's, Connecticut, Metro, New York, Bronx, Manhattan, —, Northeast, West, Hudson

☆ Mike Johnson tests his new power with risky gambit on Israel
▼ + stars: | 2023-11-01 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

CNN —New House Speaker Mike Johnson is already tying Washington in new partisan knots. Johnson surprises by picking Israel funding as his first test of credibilityJohnson’s hard ball play on Israel funding came as a surprise given that some of the urgency for ending the speakership impasse last week was to swiftly clear a funding package following the Hamas attacks. The Biden administration on Tuesday formally threatened to veto the House GOP’s standalone Israel aid bill. The inclusion of the offsets could indicate that Johnson needs to placate his most hardline members even to pass a measure as popular as Israel funding. Some other Senate conservatives are also at odds with their leader, backing the decoupling of Israel and Ukraine aid.

Persons: Mike Johnson, Kevin McCarthy, Joe Biden’s, Mitch McConnell, McCarthy, McConnell, Johnson, ” Beth Sanner, “, Biden, ” Sanner, Johnson’s, ’, Jared Moskowitz, ”, “ I’m, Marjorie Taylor Greene of, Rashida, Greene, George Santos, McConnell –, Donald Trump, –, Vladimir Putin, don’t, Rand Paul, he’s, ” Paul, CNN’s Manu Raju, Chuck Schumer, Antony Blinken, Blinken, Lloyd Austin, Putin, ‘ I’m Organizations: CNN, New, Washington, Republican, Republicans, stoke, Internal Revenue, GOP, Louisiana Republican, Democratic, Senate, National Intelligence, Central ”, White, Israel, National Republican, Extreme, Democrats, Jewish Democrat, “, GOP Rep, Democratic Rep, Democrat, New York Rep, titans, Taiwan, New York Democrat, US, NATO Locations: Israel, Louisiana, Ukraine, China, Russia, Washington, Gaza, Florida, Marjorie Taylor Greene of Georgia, Palestinian American, Michigan, Kyiv, Kentucky, United States, Moscow, Iran, Tehran, Baltic

☆ US 'frankly raised' disagreements with China at first financial working group meeting
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsOct 25 (Reuters) - U.S. officials "frankly raised areas of disagreement" with China at the first meeting of a new financial working group, where financial stability, supervision and regulation were discussed, the U.S. Treasury said on Wednesday. Attendees included senior officials from China's central bank and the U.S. Treasury Department, according to a Treasury statement. "The two-hour virtual meeting included a substantive and wide-ranging discussion on domestic and global financial stability, financial supervision and regulation, sustainable finance, and anti-money laundering and countering the financing of terrorism," the Treasury said. The financial working group and a parallel economic working group were launched last month after U.S. Treasury Secretary Janet Yellen's visit to Beijing in July aimed at fostering regular communications between the world's two largest economies. The economic working group, led by senior officials from the Treasury and China's Finance Ministry held its first meeting on Monday.

Persons: Dado Ruvic, Janet Yellen's, Yellen, Pan Gongsheng, Ismail Shakil, Costas Pitas, David Lawder, Paul Grant, Diane Craft Organizations: REUTERS, U.S . Treasury, U.S . Treasury Department, Treasury, U.S, China's Finance Ministry, People's Bank of China, International Monetary Fund, Bank, Reuters, Thomson Locations: China, China's, Beijing, Marrakech, Morocco, U.S

☆ The IRS is rolling out a free tax filing pilot in 13 states. Here's where and who's eligible.
▼ + stars: | 2023-10-18 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

The IRS is rolling out its pilot of a free direct tax filing program. It's part of the IRS's continued efforts to make tax filing simpler and more cost-effective. AdvertisementAdvertisementThe IRS is rolling out its own free direct tax filing pilot program — and some taxpayers will be able to use it as soon as the 2024 tax filing season. The IRS's ambitious plans for using the billions it got from the Inflation Reduction Act funding include developing a free, direct filing tool for taxpayers . Now, a pilot program is about to become a reality for some across 13 states.

Persons: —, Danny Werfel, filers, Rick Heineman, Werfel Organizations: IRS, Taxpayers, Service, Treasury Department, Child Tax, Social Security, CTC, Intuit TurboTax, Treasury Locations: Arizona California Massachusetts New York Alaska Florida New Hampshire Nevada South Dakota Tennessee Texas Washington Wyoming Arizona , California , Massachusetts, New York, Washington

☆ IMF steering committee calls for new funds, share plan by June 2025
▼ + stars: | 2023-10-14 | by ( ) www.reuters.com time to read: +1 min

International Monetary and Financial Committee (IMFC) chair Nadia Calvino leaves after a press conference during the annual meeting of the International Monetary Fund and the World Bank, following last month's deadly earthquake, in Marrakech, Morocco, October 14, 2023. A statement issued by the Fund's steering committee chair, Spanish economy minister Nadia Calvino, also called for proposals to change the Fund's shareholding formula by June 2025. The statement did not specify any funding amounts but left the door open to a potential near-term funding increase without changes in near-term shareholding. "In order to maintain the Fund’s current resource envelope until a quota increase becomes effective, we call on the Executive Board to propose transitional arrangements," the statement said. Reporting by David Lawder; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

Persons: Nadia Calvino, Susana Vera, David Lawder, Diane Craft Organizations: Monetary, Financial, International Monetary Fund, World Bank, REUTERS, Rights, Monetary Fund, Thomson Locations: Marrakech, Morocco, Rights MARRAKECH

☆ Money now, shares later: more IMF countries voice support for pragmatic IMF funding boost
▼ + stars: | 2023-10-11 | by ( David Lawder | ) www.reuters.com time to read: +3 min

[1/2] The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. IMF Managing Director Kristalina Georgieva said the extra resources were needed to ensure the IMF can respond to another large-scale crisis. But with anti-China sentiment running high in the U.S. Congress, any IMF funding increase that increases Beijing's influence would face stiff opposition. U.S. Treasury Secretary Janet Yellen proposed the money now, shares later plan as a way to sidestep the China issue and speed resources to the IMF. A 50% quota increase would be equivalent to about $312 billion at current exchange rates.

Persons: Yuri Gripas, Fernando Haddad, Kristalina Georgieva, Janet Yellen, Ernest Addison, David Lawder, Alex Richardson, Andrea Ricci Organizations: Monetary Fund, REUTERS, Rights, U.S, Monetary, IMF, U.S . Congress, Treasury, International Monetary, Financial Committee, Thomson Locations: Washington , U.S, Rights MARRAKECH, Morocco, France, Britain, Ghana, Switzerland, Finland, Belgium, China, Brazil, U.S, Algeria, Iran, Libya, Pakistan, Tunisia

☆ Exclusive: IMF sees support for funding increase, wants deadline on shareholding changes
▼ + stars: | 2023-10-10 | by ( David Lawder | ) www.reuters.com time to read: +3 min

REUTERS/Susana Vera Acquire Licensing RightsMARRAKECH, Morocco, Oct 10 (Reuters) - The International Monetary Fund said on Tuesday that it is seeing "significant support" for a U.S.-backed increase in quota lending resources without changes to its shareholding structure at IMF and World Bank meetings in Morocco. "I think it would be a good thing to have a deadline on the formula, because without changing the formula, we are stuck." An IMF spokesperson confirmed that she was referring to a deadline for adjusting the shareholding structure. Georgieva said the decision on a realignment deadline was up to members. The IMF is scheduled to complete a long-delayed review of quota resources by Dec. 15.

Persons: Kristalina Georgieva, Susana Vera, Georgieva, David Lawder, Jonathan Oatis Organizations: International Monetary Fund, IMF, World Bank, REUTERS, Rights, Monetary Fund, Reuters, Thomson Locations: Marrakech, Morocco, Rights MARRAKECH, U.S, China, United States, Ukraine, India, Brazil

The logo for Morgan Stanley is seen on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 3, 2021. The plaintiffs said Morgan Stanley convinced them to invest about $281 million, but hid details of a Brightline preferred share transaction that should have required the loan be prepaid at a "make-whole" amount they estimated at $750 million. Morgan Stanley was also accused of having swapped out one document with the signature of a Certares affiliate, to make it seem like the affiliate had read and agreed to the preferred share transaction. In a statement, Morgan Stanley said "the firm does not believe the claims have merit and will defend itself vigorously." The case is CK Opportunities Fund I LP et al v Morgan Stanley Senior Funding Inc et al, New York State Supreme Court, New York County.

Persons: Morgan Stanley, Andrew Kelly, Morgan, Brightline, Tatiana Bautzer, Jonathan Stempel, Rosalba O'Brien Organizations: New York Stock Exchange, REUTERS, Certares Management, Knighthead Capital Management, Brightline Holdings, Fortress Investment Group, Las, New York, Court, Thomson Locations: Manhattan , New York City, U.S, New York, Manhattan, Florida, Los Angeles, Las Vegas, Brightline, New, Court , New York County

☆ The unlikely love affair between Australia and Bollywood
▼ + stars: | 2023-08-19 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +11 min

CNN —It is the kind of unlikely love story that would make the scriptwriters of Asia’s biggest movie business proud. Film & Casting TempleHarman Baweja starred alongside Priyanka Chopra in “Love Story 2050,” shot in South Australia and released in 2008. “Australia realized that after ‘servicing’ Bollywood for over 13 years it was time to shift gears and move to collaboration with Indian cinema,” said Sharma. Salim MerchantChanging global appetiteOf no little importance is the growing audience for Bollywood productions in Australia. Anupam Sharma films for Australia's first ethnic reality show, "Bollywood Star," on SBS TV by WTFN.

Persons: Anthony Albanese, Narendra Modi, Tony Burke, “, ”, Anupam Sharma, Sharma, Feroz Khan –, “ Bollywood’s Clint Eastwood ” –, I’m, ’, “ Prem Aggan, Khan, Harman Baweja, Priyanka Chopra, Mike Rann, Baweja, Harry Baweja, Ajay Devgan, ” Sharma, Garth Davis, Dev Patel, Nicole Kidman, David Wenham, Weinstein, ” Brothers Salim, Sulaiman Merchant, “ UnIndian, Salim Merchant, Salim, Sulaiman, Mitu Bhowmick Lange, Bhowmick Lange “, ” Bhowmick Lange, Bhowmick Lange, La Trobe, Anupam, “ Everyone’s Organizations: CNN, Asia’s, Australian, Indian Film, of Melbourne, Sydney Opera House, Baweja Studios, “, Mumbai, –, ”, Co, “ Salaam, La Trobe University, La, SBS, WTFN Locations: Australia, Delhi, Brisbane, Sydney, Australian, Melbourne, India, Lake Gairdner, South Australia, Western Australia, “ Australia, ” Australia, Canada, China, Mumbai, Victoria, China Town

☆ Flying taxi maker Archer settles Boeing Wisk lawsuits, shares jump
▼ + stars: | 2023-08-11 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Carlos Barria/File PhotoAug 10 (Reuters) - Air taxi maker Archer Aviation (ACHR.N) has reached an agreement with Boeing (BA.N) and its Wisk air taxi unit to settle litigation and collaborate on autonomous technology, the companies said on Thursday. In a joint statement with Boeing and Wisk, Archer said it "has agreed to make Wisk its exclusive provider of autonomy technology for future variants of Archer’s aircraft." Boeing said it is making an investment in Archer "that will support the integration of Wisk’s autonomous technology in future variants of Archer’s aircraft." Archer counter sued Wisk in 2021 "for its false and malicious extra-judicial smear campaign" and Boeing in 2022. Archer will issue warrants to Wisk for up to 13.2 million shares as part of the settlement and autonomy agreement.

Persons: Carlos Barria, Archer's, Archer, Wisk, Larry Page's Kitty, carmaker Stellantis, David Shepardson, Matthew Lewis, Lisa Shumaker Organizations: Archer Aviation, Salinas Municipal Airport, REUTERS, Air, Boeing, United Airlines, ARK Investment Management, Federal Aviation Administration, Google, Larry Page's Kitty Hawk Corp, Chrysler, U.S ., Airlines, Thomson Locations: Salinas, Salinas , California, U.S, Washington

☆ Biden wants to make sure Congress doesn't slash pay for firefighters tackling wildfires raging across the country
▼ + stars: | 2023-08-10 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Biden administration wants additional funding from Congress for Ukraine, extreme weather, and the border. Currently, wildfire firefighters are working under a temporary pay increase, which will expire by October. "The administration is committed to building a more robust and resilient wildland firefighter workforce and fairly compensate wildland firefighters' difficult and dangerous work that they do. "We've seen bipartisan understanding of the need to provide firefighter pay to prevent a cliff," the official said. On Tuesday, a bipartisan group of lawmakers introduced the Wildland Firefighter Paycheck Protection Act, which would make pay increases for firefighters permanent.

Persons: Biden, Joe Biden's, Kevin McCarthy, We've, Josh Harder, weren't Organizations: Biden, Management, Service, Agriculture, FEMA, OMB, NBC News, National Federation of Federal Employees, National Forest Service Locations: Ukraine, Wall, Silicon, Hawaii, Texas, California

☆ Prologium CEO: Working with France to determine battery project subsidies
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: 1 min

TAIPEI, June 9 (Reuters) - Taiwanese electric vehicle battery maker ProLogium is working with the French government to determine the total amount of subsidies for its project in the north of France, Prologium's CEO said on Friday. Vincent Yang told reporters in Taipei that the parties were in the final phase of talks and that he expected a joint announcement by the end of this year. He also said there would be many sources of funding including loans, equity, and investment from automakers. Reporting by Faith Hung in Taipei; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: Vincent Yang, Faith Hung, Christopher Cushing Organizations: Thomson Locations: TAIPEI, France, Taipei

☆ Proposed debt ceiling deal would cut part of $80 billion IRS funding
▼ + stars: | 2023-05-30 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

A tentative deal to raise the debt ceiling limit includes up to $21.4 billion of IRS budget cuts, slashing part of the nearly $80 billion in agency funding enacted last August to boost taxpayer service, technology and enforcement. If unchanged, a separate deal would also repurpose $20 billion of IRS funding for fiscal years 2024 and 2025, according to the White House. Since the original $80 billion in IRS funding was for a 10-year period, White House officials on Sunday said they don't expect the budget cuts to fundamentally change the agency's near-term plans. But the IRS may need to request more funding during the latter years of the original timeline, they said. The $80 billion IRS funding has been a hot-button political issue since its enactment, and repealing the money was a theme throughout the 2022 midterm elections in the fall.

☆ Analysis: As sun sets on LIBOR, its successor rate may heighten bank risks
▼ + stars: | 2023-05-22 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +5 min

The transition to the Secured Overnight Funding Rate (SOFR) has been well-telegraphed for years and U.S. banks are mostly prepared for the new rate regime. Typically in a crisis, the cost of bank funding rises: rates on commercial paper and bond issuance increase as investors demand a premium to buy bank debt. This was highlighted by the New York Fed in a study released in December 2022 and updated last February. Bank funding costs have increased with the surge in interest rates since the Fed began tightening last year. "The transition has largely taken place and the rates on SOFR have risen in tandem with policy rate increases."

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