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Congress is back at the budget negotiation table this week and border security disputes again are threatening to torpedo talks as a weekend government shutdown inches closer. Congress successfully struck a deal on the first six appropriations bills in February, but the remaining half relate to thornier agencies like labor, homeland security, education and more. "This second batch, they're tougher because they're more partisan," said Bobby Kogan, a former budget advisor under President Joe Biden. The border is a top voting issue in the 2024 election and amid the heat of the border controversy, House Republicans impeached Homeland Security Secretary Alejandro Mayorkas in February after several failed attempts. In early February, Republicans killed a foreign aid package that would have provided $20 billion in funding for the U.S. southern border.
Persons: Joe Biden, Kamala Harris, Mitch McConnell, Mike Johnson, Chuck Schumer, Hakeem Jeffries, Biden administration's pushback, Bobby Kogan, Alejandro Mayorkas Organizations: White, White House, Department of Homeland Security, GOP, Politico, DHS, CNBC, Democratic, NBC News, Congress, Republicans, Homeland, Senate Locations: WASHINGTON, DC, Washington , DC, U.S
Negotiators are working on an agreement for six funding bills, four of which expire Friday. But a partial shutdown is still not out of the question. A partial shutdown would impact several government agencies, including agriculture, Veterans Affairs, transportation and housing. What a partial shutdown looks likeIf the four funding bills do expire Friday, their corresponding agencies would shut down Saturday at 12:01 a.m. A partial shutdown would leave those agencies' roughly 100,000 federal employees without pay for any new work during the shutdown, whether they are furloughed or not.
Persons: Chuck Schumer, Mike Johnson, Joe Biden, Johnson, Athina Lawson, Bobby Kogan, Biden, Kogan Organizations: U.S, Capitol, Washington , DC, Lawmakers, Congressional, White, Congress, Veterans Affairs, Social Security, D.C, Department of Housing, Urban, Agriculture, Rural Development Locations: Washington ,
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCEO of Kogan.com discusses its return to profitability after a 'very challenging period'Ruslan Kogan, founder and CEO of the Australian online retailer, discusses its profit rebound for the half year ended Dec. 31, 2023, following a "very challenging period" of being "stuck with too much inventory." The company's stock soared 22% on the back of its results.
Persons: Kogan.com, Ruslan Kogan
CNN —The United States Figure Skating team will receive a gold medal for their team event at the 2022 Beijing Winter Olympics, after Russian figure skater Kamila Valieva was handed a four-year ban Monday over a long-running doping controversy. Valieva, now 17, had led the Russian Olympic Committee to first place in the team event ahead of the US and Japan — before her doping test came back positive for performance-enhancing substance trimetazidine. CNN Sport has contacted the International Olympic Committee (IOC), the Japanese Olympic Committee and the Russian Olympic Committee for further comment. Even with the latest news of Valieva’s ban, Alexander Kogan, director general of the Russian Figure Skating Federation, said that he still views his athletes to be the champions in the team event. In its Monday announcement, CAS said that the decision to ban Valieva for four years is “final and binding,” explaining that the parties can appeal to the Swiss Federal Tribunal “within 30 days on limited grounds.”
Persons: Kamila Valieva, Japan —, Valieva, , Sarah Hirschland “, Evan Bates, Karen Chen, Nathan Chen, Madison Chock, Zachary Donohue, Brandon Frazier, Madison Hubbell, Alexa Knierim, Vincent Zhou, Alexander Kogan Organizations: CNN, United, Skating, Russian Olympic Committee, Olympic, Paralympic, IOC, International Olympic Committee, International Skating, CNN Sport, Japanese Olympic Committee, Swiss Federal Locations: United States, Japan, Canada, Beijing
CNN —Russian figure skater Kamila Valieva has been found guilty of an anti-doping violation by Switzerland’s Court of Arbitration for Sport (CAS) and has received a four-year ban from competitions. In Beijing, Valieva’s Russian Olympic Committee (ROC) team had finished first ahead of the US and Japan – with Canada finishing fourth – and no medals were subsequently awarded due to the doping controversy. CNN Sport has contacted the International Olympic Committee (IOC), the ISU, the Japanese Olympic Committee, the Canadian Olympic Committee, and the Russian Olympic Committee for further comment. RUSADA had changed its initial stance and sought a punishment that “may include or be limited to a reprimand” for Valieva, CAS announced in February last year. Russian athletes were competing as neutral athletes at the Winter Olympics in Beijing due to a previous ban for doping non-compliance.
Persons: Kamila Valieva, Valieva, Catherine Ivill, Ms Valieva, Travis Tygart, Sarah Hirshland, RUSADA, , Alexander Kogan, WADA, , ” CNN’s Jill Martin, Thomas Schlachter, Anna Chernova Organizations: CNN, Switzerland’s, Sport, Valieva, Russian Olympic Committee, Canada, International Skating Union, ISU, Winter Games, CNN Sport, International Olympic Committee, Japanese Olympic Committee, Canadian Olympic Committee, Doping Agency, Olympic, Paralympic, Team USA, , IOC, RIA Novosti, Skating, Swiss Federal Locations: Russian, Beijing, Japan, US
REUTERS/Maxim Shemetov/Illustration/File Photo Acquire Licensing RightsSummaryCompanies Russian rouble climbs to over 2-week high vs dollarMove comes after Putin reimposes currency controlsRouble had slumped to over 18-month low this weekAnalysts expect rouble to firm more in coming weeksOct 12 (Reuters) - Russia's rouble leapt against the U.S. dollar on Thursday after President Vladimir Putin ordered the mandatory sale of foreign currency revenues for some exporters to buttress the currency. The rouble collapsed to a record low in the weeks after Russia invaded Ukraine last year, before Moscow imposed similar capital controls that saw it recover to a seven-year high. Kogan warned, however, that by 2025-2026 businesses would form plans based on a rouble rate of 100-105. The central bank endorsed the measures, a shift in its stance, after it previously warned of the inefficiency of currency controls. "The rouble is even less tradable for foreign investors after Russia re-imposed some capital controls," Piotr Matys, senior FX analyst at In Touch Capital Markets.
Persons: Maxim Shemetov, Putin, Rouble, rouble, Vladimir Putin, Yevgeny Kogan, Kogan, Gref, Andrei Belousov, Piotr Matys, Dmitry Polevoy, Brent, Alexander Marrow, Amruta, Robert Birsel, Mark Potter, Varun, Alexander Smith Organizations: REUTERS, U.S, Russia's Higher, of Economics, TASS, Wednesday, Bank of Russia, FX, Touch, Thomson Locations: Moscow, Russia, Ukraine, outflows, Locko, Bangalore
An employee counts Russian 1000-rouble banknotes in a bank office in Moscow, Russia, in this illustration picture taken October 9, 2023. REUTERS/Maxim Shemetov/Illustration/File photo Acquire Licensing RightsOct 10 (Reuters) - The Russian rouble dived towards a more than an 18-month low on Tuesday before paring most losses in a volatile session, under pressure from domestic demand for foreign currency and a drop in oil prices. By 1034 GMT, the rouble was 0.3% weaker against the dollar at 99.63 . It had lost 0.8% to trade at 105.55 versus the euro and shed 0.4% against the yuan to 13.64 . "The bank may show a record profit of 1.5 trillion roubles for the year."
Persons: Maxim Shemetov, Sber, Yevgeny Kogan, Alexander Marrow, Ed Osmond, Gareth Jones Organizations: REUTERS, Bank of Russia, Russia's Higher, of Economics, Thomson Locations: Moscow, Russia, Russian, Brent
Head Start programs, which serve over 10,000 children across the nation, would lose funding. If the shutdown isn't averted, Head Start programs serving more than 10,000 children would immediately lose federal funding, including Ferguson's program. This is a particular concern with nearly 20% of Head Start staff positions vacant nationwide, according to the National Head Start Association. The 16-day October 2013 shutdown was the last to hit Head Start hard, affecting 19,000 children and shuttering programs in several states. Laketia Washington, a mother of eight whose 3- and 5-year-olds attend Head Start programs in Tallahassee, Florida, lamented the turmoil as she rang up customers at a discount store.
Persons: , Monette Ferguson, Ferguson, Tommy Sheridan, Sheridan, Bobby Kogan, Lori Milam, she's, Philip Shelly, Nikki Budzinski, Maureen Coffey, Lynn Karoly, John, Laura Arnold, what's Organizations: Service, Alliance for Community Empowerment, Start Association, Sunday, Center for American Progress, West Virginia, Democratic U.S ., Start, Center for American, Rand Corp, Tim Center, Capital Area Community Action Agency Locations: Connecticut, Florida , Alabama , Connecticut, Georgia , Massachusetts, South Carolina, Illinois, Minnesota , New York, Maine, Houston, Florida, Laketia Washington, Tallahassee , Florida
If the shutdown isn’t averted, Head Start programs serving more than 10,000 children would immediately lose federal funding, including Ferguson's program. That's what worries Lori Milam, executive director of the West Virginia Head Start. This is a particular concern with nearly 20% of Head Start staff positions vacant nationwide, according to the National Head Start Association. Another pot of COVID-19 relief funds that helped Head Start ran out in the spring. Laketia Washington, a mother of eight whose 3- and 5-year-olds attend Head Start programs in Tallahassee, Florida, lamented the turmoil as she rang up customers at a discount store.
Persons: Monette Ferguson, , , Ferguson, Tommy Sheridan, Sheridan, Bobby Kogan, Lori Milam, she's, Philip Shelly, Nikki Budzinski, Maureen Coffey, “ It’s, Lynn Karoly, John, Laura Arnold, what’s Organizations: KANSAS CITY, Alliance for Community Empowerment, Start Association, Sunday, Center for American Progress, West Virginia, Democratic U.S ., Start, Rand Corp, Tim Center, Capital Area Community Action Agency Locations: KANSAS, Mo, Connecticut, Florida , Alabama , Connecticut, Georgia , Massachusetts, South Carolina, Illinois, Minnesota , New York, Maine, Houston, Florida, Laketia Washington, Tallahassee , Florida
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe first half wasn't great but our numbers show a 'huge turnaround,' says Kogan.com CEORuslan Kogan, founder and CEO of Kogan.com, discusses the company's results for the full year ended June 30, 2023.
Persons: Ruslan Kogan
That allowed them to track how breakthrough technologies impacted the exposure of workers in relevant occupations over time. Based on U.S. Census surveys from 1910 to 2010, the team found that an increase in technology exposure was linked to a decline in employment. These employees saw their wages slow down by more than twice as much as average workers in the same occupation with the same level of technology exposure. Even when their technology exposure did go up, their income didn't slow down as much as it did in other types of occupations. "Not all technology is bad for workers," Seegmiller says.
Budget Cuts in the G.O.P. If every agency is cut If defense, veterans’ health and border security are spared Defense Defense –18% 0% No change Veterans' medical Veterans' medical –18% 0% No change Health and Human Services Health and Human Services –18% –51% Education Education –18% –51% Housing and Urban Development Housing and Urban Development –18% –51% Homeland Security Homeland Security –18% 0% No change Justice Justice –18% –51% State State –18% –51% Transportation Transportation –18% –51% Agriculture Agriculture –18% –51% International aid International aid –18% –51% NASA NASA –18% –51% Veterans (other) Veterans (other) –18% –51% Energy Energy –18% –51% Interior Interior –18% –51% Treasury Treasury –18% –51% Labor Labor –18% –51% Social Security Administration Social Security Administration –18% –51% Commerce Commerce –18% –51% Environmental Protection Agency Environmental Protection Agency –18% –51% Corps of Engineers Corps of Engineers –18% –51% Other Other –18% –51% Source: Analysis of Congressional Budget Office data by Bobby Kogan, Center for American Progress Note: Figure shows base discretionary budget authority totals for 2024-2033. The New York TimesThe charts above show how exempting big categories of spending would make the budget caps more draconian. The budget caps aren’t the only changes in the current House bill that would reduce federal spending. tax enforcement Budget cuts would reduce tax collections, reducing the savings in the rest of the bill –$120 billion Sources: Committee for a Responsible Federal Budget ; Congressional Budget Office Note: TANF refers to the Temporary Assistance for Needy Families program.
How 31 Presidential Budgets Compared With RealityYear of budget 1994 Deficits Budgets Reality Spending Taxes and other revenueYou have probably heard of the main reason for this: The president’s budget has no force of law. But the president’s budget is often not predictive for another reason: Unexpected, cataclysmic events end up changing the trajectory of federal spending far more than shifts in any line item in a budget table. Bill ClintonDeficits Budgets Reality Spending Taxes and other revenueMr. Clinton’s budgets matched actual spending and revenue far more than those of the presidents who followed him. Another was the Budget Control Act, a bipartisan bill that reduced federal spending across the government that Mr. Obama had not proposed. And as we’re often reminded during budget season, budgets are also important because they tell you about a president’s goals and values.
Chart showing the percentage cut the committee would make to each area of government spending to balance the budget over 10 years. 8 8 8 Deficit 6 6 6 4 4 4 Spending Spending Spending Revenue Revenue Revenue 2 2 2 2023 2033 2023 2033 2023 2033 Current projections Deficits are projected to grow to $2.7 trillion by 2033. 8 8 8 Deficit 6 6 6 4 4 4 Spending Spending Spending Revenue Revenue Revenue 2 2 2 2023 2033 2023 2033 2023 2033 Eliminate by increasing taxes Current projections Eliminate by cutting spending Deficits are projected to grow to $2.7 trillion by 2033. plan to balance budget 50% Projections 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010 2020 2030 2040 2050 Current trajectory 200% of G.D.P. plan to balance budget 50% Projections 1930 1960 1990 2020 2050 Sources: Committee for a Responsible Federal Budget; Congressional Budget Office; Republican Study Committee Note: Both plans were released in 2022 and are based on outdated baseline projections; their debt reduction may differ modestly.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOnline retailer says majority of its sales are driven by software and subscriptionsRuslan Kogan, CEO of Kogan.com, says the company has transitioned to a capital-light business model over the past few years.
The Supreme Court heard a case involving pop artist Andy Warhol's iconic silkscreen prints of musician Prince. At issue is whether Warhol violated copyright law by relying on a photographer's image of Prince for his art. The Andy Warhol Foundation has asked the Supreme Court to overturn that ruling. "If you called Andy Warhol as a witness, what would he say?" "And this is a work of art sending a message about modern society," he said of Warhol's.
Tom Barrack watches jury selection in a courtroom sketch in New York City, U.S. September 19, 2022. Tom Barrack, a private equity executive and onetime fundraiser for former President Donald Trump is charged with acting as a foreign agent without notifying the U.S. government as required. Register now for FREE unlimited access to Reuters.com RegisterThey intend to argue that their interactions with UAE officials were part of their work for DigitalBridge, then known as Colony Capital. Trump may be called as a witness at the trial, Cogan told several jurors. read moreBefore opening statements on Wednesday, prosecutors will eliminate six jurors of their choice, while the defendants will together strike 13.
50 Cent is suing a Florida plastic surgery clinic for using his photos in promotional posts. Kogan posed for a photo with 50 Cent in 2020 and has posted it multiple times since then, suit says. In the caption of the now-deleted post, Kogan thanked the star — real name Curtis Jackson III — for "stopping by," the report says. According to a report by Complex Magazine, the article used the photo of Kogan and 50 Cent from 2020 and listed him as one of her celebrity clients. A post shared by 50 Cent (@50cent)The star commented on the lawsuit in a Saturday post to his Instagram.
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