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☆ Skydance Offers Paramount a Deal Sweetener: A $3 Billion Cash Infusion
▼ + stars: | 2024-04-29 | by ( Benjamin Mullin | Lauren Hirsch | ) www.nytimes.com time to read: +1 min

With the fate of Paramount hanging in the balance, its leading suitor has just upped the ante. Skydance also offered to give Paramount shareholders a larger stake in the combined company than it had initially proposed. The vociferous pushback by investors, combined with the complicated nature of the transaction, means the Skydance deal could still fall apart, people familiar with the process said. Paramount has been in deal discussions with the movie studio Skydance for months, after Ms. Redstone decided late last year to consider a sale for her media empire. Since then, the company has entertained interest from suitors including Apollo, the private-equity giant, and Skydance, which is proposing a merger.

Persons: Skydance, Shari, Redstone Organizations: Paramount

☆ Tesla is so desperate for sales it's started advertising, something Elon Musk famously said he 'hates'
▼ + stars: | 2024-03-30 | by ( Katie Balevic | ) www.businessinsider.com time to read: +2 min

The company upped its ad spending to $6.4 million in 2023, The Wall Street Journal reported. Between bad press about the electric vehicles themselves and the chaotic whims of Tesla CEO Elon Musk, Tesla's stock value has dropped this year by nearly 30%. Tesla's sales have gotten so bad that the company has resorted to advertising — something Elon Musk famously said he can't stand. "I hate advertising," Musk posted on Twitter, now X, in 2019. Musk agreed to try advertising in May after the suggestion came up at a company shareholder meeting, The Wall Street Journal reported.

Persons: Tesla, Elon Musk, —, Musk, We'll, assuaging Organizations: Street Journal, Investors, Service, Tesla, Business, Twitter, Meta, Google, Wall Street Locations: United States

☆ The S&P 500 has reached a historical extreme based on a simple measure that has foretold pullbacks in the past
▼ + stars: | 2024-03-25 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

One measure of stocks suggests it's time for investors to take some caution, according to BTIG. The 200-day moving average is a technical measure used by investors and traders to gauge an asset's longer-term momentum. On top of that, seasonal trends — which had been positive — are about to shift against investors, Krinsky noted. April is the worst month for the long/short momentum strategy, which refers to when investors snap up recent winners, while shorting recent underperformers. On average, the strategy loses 4.15% on average during the month.

Persons: Jonathan Krinsky, Krinsky Organizations: Stocks, Federal Reserve

☆ For an Aging President, a Birthday With a Bite
▼ + stars: | 2023-11-19 | by ( Peter Baker | More About Peter Baker | ) www.nytimes.com time to read: +1 min

And that’s for people who are not even running for president. For President Biden, who turns 81 on Monday, another birthday may bring more liability than revelry, offering one more reminder of his age to an already skeptical electorate. Unlike other presidents who have celebrated birthdays with lavish political events, Mr. Biden plans to observe his milestone privately with family in Nantucket later this week. The best birthday gift the oldest president in American history could hope for would be a strategy for assuaging voters’ concerns, but that has been hard to come by. If Mr. Trump wins next year and serves out four years, he would take over the status as the country’s oldest president.

Persons: Biden, Mr, Donald J, Trump, Barack Obama, Obama Organizations: Republican Locations: Nantucket, Hungary, Turkey

If the House passes the bill, the Senate will next need to approve the measure. Government funding is currently set to expire at the end of the week on Friday, November 17. In the first major test of his leadership, newly elected House Speaker Mike Johnson is pursuing an unusual two-step plan that would set up two new shutdown deadlines in January and February. The conservative House Freedom Caucus, a group of roughly 30 hardliners, has taken an official position against Johnson’s two-part government funding plan. A number of conservatives oppose the stopgap bill because it would not implement the deep spending cuts they have demanded.

Persons: Mike Johnson, Johnson, CNN’s Kristin Wilson, Annie Grayer, Lauren Fox Organizations: Energy Department, Caucus, Republican, GOP, Freedom Caucus, Johnson’s Locations: Israel, Ukraine

Plenty of bond investors have been burned calling a bottom in a selloff that has taken Treasuries to the cusp of an unprecedented third straight year of losses. One potential near-term pitfall is Friday’s U.S. payrolls data, which could revive expectations of Fed hawkishness if they come in stronger than expected. The rise in Treasury yields has reached far beyond the bond market. The S&P 500 is down nearly 8% from its July high, as rising bond yields offer investment competition to equities while threatening to raise the cost of capital for companies. “The market is running with the idea that the Fed is done hiking, which they may or may not be,” he said.

Persons: Jerome Powell nodded, Bonds, ”, Jack McIntyre, “, ” McIntyre, Stanley Druckenmiller, Duquesne, Bond, Josh Emanuel, Powell, We've, Greg Wilensky, Janus Henderson, ” Wilensky, Noah Wise, Davide Barbuscia, David Randall, Ira Iosebashvili Organizations: Treasury, Federal, Fed, U.S . Treasury, Brandywine, Janus, Janus Henderson Investors, Allspring Global Investments, Thomson Locations: U.S, Wilshire

☆ Pinterest stock rockets 18% after earnings beat, advertising outlook
▼ + stars: | 2023-10-31 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +3 min

Pinterest stock rose more than 18% Tuesday after beating earnings estimates for the third quarter and assuaging concerns over potential ad revenue loss due to the Israel-Hamas war. The company posted an adjusted earnings per share of 28 cents, beating the LSEG estimate of 20 cents. Pinterest also soundly beat revenue expectations, reporting $763.2 million, versus analysts' estimates of $743.5 million. For much of earnings season, the market has been skittish toward companies reliant on ad revenue due to the unclear future effects of the Israel-Hamas war. Pinterest's mobile deep linking ad product was also a highlight, due to its more than 200% increase in the conversion rate, wrote the Barclays analysts.

Persons: Pinterest, Susan Li, Bill Ready, Gen, Morgan Stanley, Jonathan Vanian Organizations: Meta, Barclays, Citi, Pinterest, Shop, CNBC Locations: Israel

We bought into this malaise — picking up 15 Humana shares . It's taken some patience, but Humana shares finally broke through $500 in Friday afternoon trading. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer's, Humana, It's, we've, Jim Cramer, Jim, Spencer Platt Organizations: Humana, CNBC, New York Stock Exchange, Getty Locations: New York City

☆ Developing countries facing a debt crunch
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +6 min

EGYPTNorth Africa's largest economy needs to repay some $100 billion of hard-currency debt over the next five years. Egypt has a $3 billion IMF programme and has devalued the pound by roughly 50% since February 2022. Its progress in restructuring both domestic debt and $30 billion in external debt has been fairly swift and it secured a $3 billion IMF bailout in May. The next tranche of a $2.9 billion IMF bailout package could be delayed over a potential government revenue shortfall. A repair plan finally appeared imminent after Zambia clinched a $6.3 billion debt rework deal with the Paris Club creditor nations and China, its other big bilateral lender, in June.

Persons: Moody's, William Ruto's, Kais Saied, Libby George, Shri Navaratnam Organizations: World Bank, African Development Bank, IMF, UAE, SRI, SRI LANKA Sri, European Union, Zambia, Paris Club, Sri, Thomson Locations: Marrakech, EGYPT, Cairo, Egypt, ETHIOPIA, Ethiopia, China, GHANA Ghana, Accra, KENYA, Kenya, LEBANON Lebanon, PAKISTAN Pakistan, Saudi Arabia, SRI LANKA, SRI LANKA Sri Lanka, TUNISIA, Tunisia, UKRAINE Ukraine, Ukraine, United States, ZAMBIA, Zambia

She cited unpublished information from Vietnam's Ministry of Natural Resources and Environment, which did not respond to requests for comment. In recent years, Japanese investors Toyota Tsusho and Sojitz abandoned projects at Dong Pao after China ramped up supply, pummelling prices. Reuters GraphicsStill, rare earths at Dong Pao are relatively easy to access and are mostly concentrated in bastnaesite ores, according to the Hanoi University of Mining and Geology. The plant has capacity to process 5,000 tons of REO a year but the company plans to treble that to accommodate input from Dong Pao, Tuan said. The metallization process is controlled by China, which produces 90% of rare-earth metals, according to the U.S. Department of Energy.

Persons: Dong Pao, Blackstone, VTRE, Tessa Kutscher, Anh Tuan, Joe Biden, Kutscher, Sojitz, Dylan Kelly, Vingroup, Rivian, Dong, Tuan, David Merriman, John Rockhold, Dudley Kingsnorth, Francesco Guarascio @fraguarascio, Khanh, Melanie Burton, Trevor Hunnicutt, Mai Nguyen, Phuong, David Crawshaw Organizations: REUTERS, Australia's Blackstone Minerals Ltd, Vietnam's Ministry of Natural Resources, Earth JSC, U.S, . Geological Survey, Reuters, Toyota, Terra Capital, Blackstone, Hanoi University of Mining, REO, White House, Department of Commerce, U.S . Chamber of Commerce, Strategic, ASM, Reuters Graphics Reuters, U.S . Department of Energy, Western Australian School of Mines, Curtin University, Thomson Locations: Nam, Lai Chau, Vietnam, Pao, HANOI, Dong, Beijing, China, Hanoi, U.S, Dong Pao, VTRE, South, Khanh Vu, Melbourne, Seoul, Washington, Phuong Nguyen

☆ South Korea Hosts Japan, China as US Allies Try to Reassure Beijing
▼ + stars: | 2023-09-25 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +3 min

A senior South Korean government official said China has been proactive in seeking trilateral cooperation and arranging meetings since relations soured between Seoul and Beijing in 2017 over the deployment of a U.S. THAAD anti-missile system in South Korea. Japan and South Korea have an interest in avoiding conflicts and maintaining a stable security relationship with China, and Beijing's assistance in slowing down, if not halting, North Korea's extensive nuclear development program, he added. Tuesday's meeting involve South Korean Deputy Foreign Minister Chung Byung-won, Japanese Senior Deputy Foreign Minister Takehiro Funakoshi, and Nong Rong, China's assistant minister of foreign affairs. Chinese foreign ministry spokesperson Wang Wenbin told a briefing on Monday that China, Japan and South Korea are close neighbours and important cooperative partners, and strengthening trilateral cooperation serves their common interests. The trilateral summits have traditionally involved China's prime minister, but South Korea is also pushing for a separate visit by President Xi Jinping.

Persons: Josh Smith, Hyonhee Shin, Yoon Suk Yeol, Fumio Kishida, Joe Biden, Tong Zhao, Zhao, Chung Byung, Takehiro Funakoshi, Nong Rong, Wang Wenbin, Xi Jinping, Hyonhee, Liz Lee, Gerry Doyle Organizations: South Korean, Carnegie Endowment, International Peace Locations: Hyonhee Shin SEOUL, South Korea, China, Japan, Washington, Seoul, Tokyo, Korea, Beijing, U.S, United States

Those talks were suspended amid legal, diplomatic, and trade disputes between Seoul and Tokyo over issues dating to Japan's 1910-1945 occupation of Korea. A senior South Korean government official said China has been proactive in seeking trilateral cooperation and arranging meetings since relations soured between Seoul and Beijing in 2017 over the deployment of a U.S. THAAD anti-missile system in South Korea. Tuesday's meeting involve South Korean Deputy Foreign Minister Chung Byung-won, Japanese Senior Deputy Foreign Minister Takehiro Funakoshi, and Nong Rong, China's assistant minister of foreign affairs. Chinese foreign ministry spokesperson Wang Wenbin told a briefing on Monday that China, Japan and South Korea are close neighbours and important cooperative partners, and strengthening trilateral cooperation serves their common interests. The trilateral summits have traditionally involved China's prime minister, but South Korea is also pushing for a separate visit by President Xi Jinping.

Persons: Park Jin, Japan Takehiro Funakoshi, Foreign Affairs of China Nong Rong, Jung Byung, Yoon Suk Yeol, Fumio Kishida, Joe Biden, Tong Zhao, Zhao, Chung Byung, Takehiro Funakoshi, Nong Rong, Wang Wenbin, Xi Jinping, Josh Smith, Hyonhee, Liz Lee, Gerry Doyle Organizations: South Korean Foreign, Foreign Affairs, Japan, Foreign Affairs of, Political Affairs, South Korean, Carnegie Endowment, International Peace, Thomson Locations: Foreign Affairs of China Nong, SEOUL, South Korea, China, Japan, Washington, Seoul, Tokyo, Korea, Beijing, U.S, United States

☆ Factbox: Developing countries in the grip of debt problems
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +8 min

In June, it clinched a $6.3 billion debt rework deal with the "Paris Club" creditor nations and its other big bilateral lender China. Another part of the domestic debt plan has faced delays, though, with a key deadline on a Treasury bond exchange delayed three times and now set for Sept. 11. Failure to complete the domestic debt overhaul by then could result in delays both in terms of IMF disbursements and talks with creditors. The government recently agreed to tackle roughly $4 billion of its domestic debt via a pension fund debt swap operation and a dollar-denominated bonds exchange. Cairo has a $3 billion IMF programme and has devalued the pound by roughly 50% since February 2022.

Persons: Adnan Abidi, Nandalal Weerasinghe, Kais Saied, Nayib Bukele, William Ruto's, Donald Trump, Libby George, Marc Jones, Mark Potter Organizations: REUTERS, China, SRI, SRI LANKA Sri, Sri Lanka Development, Sri, Monetary Fund, IMF, UAE, Observers, European Union, SALVADOR, World Bank, African Development Bank, Presidential, Republican, Thomson Locations: New Delhi, India, Delhi, ZAMBIA Zambia, SRI LANKA, SRI LANKA Sri Lanka, China, GHANA Ghana, Zambia, Ghana, PAKISTAN Pakistan, Saudi Arabia, TUNISIA, North, Tunisia, EGYPT Egypt, Cairo, Salvador, KENYA, Kenya, UKRAINE Ukraine, Ukraine, Russia, LEBANON Lebanon

☆ Here's what analysts are saying after Palo Alto Networks' second-quarter earnings
▼ + stars: | 2023-08-21 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Wall Street analysts are riding high after Palo Alto Networks' earnings beat. Goldman Sachs' Gabriela Borges reiterated a buy rating on Palo Alto Networks and raised her price target to $274 from $254. PANW 1D mountain Palo Alto Networks added more than 15% on Monday. Elsewhere, Morgan Stanley's Hamza Fodderwala restated an overweight rating as well as a top pick label in a Monday note. The analyst raised his price target to $304 from $302, which implies 45% upside from Friday's close.

Persons: Goldman Sachs, Gabriela Borges, Borges, Brad Zelnick, Zelnick, Morgan Stanley's Hamza Fodderwala, Fodderwala, Michael Bloom Organizations: Palo Alto Networks, Networks, Deutsche Bank

☆ Humana calms Wall Street's jitters with quarterly results, clearing way for stock to run higher
▼ + stars: | 2023-08-02 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +5 min

Humana (HUM) reported second-quarter results Wednesday that were much better than feared, sending its stock price soaring and giving us the confidence to stick with the jilted health insurer. Not only did second-quarter numbers top expectations, but management offered assuring commentary on the worrisome medical-cost trends that torpedoed its stock price in mid-June . That one-two punch explains the more-than-5% jump in Humana shares, pushing the stock to its highest levels since June 14. Outlook Humana raised its outlook for 2023 individual Medicare Advantage membership growth by 50,000 to roughly 825,000 members, representing an 18% increase compared with enrollment levels at the end of 2022. Capital allocation Humana CFO Susan Diamond said the company has capitalized on the "recent dislocation" in its stock price — i.e.

Persons: MLR —, Wall, Bruce Broussard, —, Broussard, Susan Diamond, Humana, Jim Cramer's, Jim Cramer, Jim, Ty Wright Organizations: Revenue, Humana, Club, UnitedHealth, Management, Insurance, CNBC, Bloomberg, Getty Locations: Louisville , Kentucky

☆ Opinion | What I Learned in Ukraine
▼ + stars: | 2023-07-23 | by ( Bret Stephens | ) www.nytimes.com time to read: +3 min

I learned that every member of the American Embassy staff in Kyiv, led by our courageous and cleareyed ambassador, Bridget Brink, volunteered for the duty. I learned what it was like to sit in conference rooms and walk along corridors that would soon be shattered by Russian ordnance. I learned that Ukrainians have no interest in turning their victimization into an identity. I learned that, for all the aid we’ve given Ukraine, we are the true beneficiaries in the relationship, and they the true benefactors. NATO countries are paying for their long-term security in money, which is cheap, and munitions, which are replaceable.

Persons: Bridget Brink, general’s, Samantha Power, Power, Anatoliy Fedoruk, ”, aren’t, Ben Wallace, Britain’s Organizations: American Embassy, Marshall, United States Agency for International Development, Port Authority, Serbian, NATO Locations: Kyiv, Odesa, Belgrade, Kosovo, Bucha, Moscow, Budapest, Russia, Minsk, Ukraine

The U.S. Treasury started rebuilding its account through T-bills after the government's debt ceiling was suspended last month. Since early June, the Treasury General Account at the Fed has increased by about $460 billion. "The risk of reserve scarcity in the near-term has receded as more cash has left the RRP facility," said Gennadiy Goldberg, Head of US Rates Strategy at TD Securities USA. "However, money market funds shifted their allocation out of the RRP facility into outright purchases of T-bills and private repo markets," they said. Reporting by Davide Barbuscia; Editing by Dan Burns and Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

Persons: Gennadiy Goldberg, Davide Barbuscia, Dan Burns, Andrea Ricci Organizations: YORK, Treasury, U.S . Treasury, Fed, Federal, Securities USA, Citi, repo, ON, Thomson Locations: U.S

☆ Manchin’s New Hampshire trip will leave Democrats shivering
▼ + stars: | 2023-07-17 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

The West Virginia Democrat’s model has served him well with repeated statewide wins in one of the most conservative pro-Trump states in the nation. For now, Manchin’s noncommittal answers are worrying some of his Democratic colleagues. Polls show that both Biden and Trump, the front-runner for the GOP nomination, are unpopular. It argues, therefore, that 79 electoral votes are potentially at risk for Biden from the involvement of a third-party challenger. Such a challenger would also need to win states where Biden won big, and at least some conservative bastions.

Persons: West Virginia Sen, Joe Manchin, Donald Trump, Manchin, who’s, Joe Biden, roil Biden’s, CNN’s Manu Raju, –, “ I’ve, Biden, Manchin’s, Arizona Sen, Mark Kelly, ” Kelly, “ I’m, West, Vermont Sen, Bernie Sanders, Biden –, Georgia –, CNN’s Kaitlan Collins, Trump, “, Robert Kennedy Jr, ’, Kennedy, Ron DeSantis, DeSantis, Jake Tapper, ”, Jon Huntsman, Ryan Clancy, CNN’s Michael Smerconish, we’ve, Jill Stein, Ralph Nader, Gary Johnson –, Nader, Stein, siphoning, Al Gore, Hillary Clinton, CNN’s Harry Enten, don’t, Chris Christie, Trump’s, ” Christie Organizations: CNN, West, Democratic, West Virginia Democrat’s, Trump, Senate, Manchin, Harvard, Green, GOP, Biden, Florida Gov, Democratic National Committee, Republican Gov, Saint Anselm College in, Republican, Democrats, Green Party, Libertarian Party, Trump Republicans, Quinnipiac University, Former New Jersey Gov, ABC Locations: West Virginia, New Hampshire, Granite, Arizona, “ State, Vermont, Georgia, Covid, South Carolina, Florida, Saint Anselm College in Manchester, United States, Washington, Former

☆ Analysis: President Joe Biden just secured a big win from his Europe trip
▼ + stars: | 2023-07-11 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

CNN —President Joe Biden has already secured a powerful deliverable from his Europe trip – one that will weaken Russia’s strategic position in another detrimental consequence of its invasion of Ukraine. Once Sweden finally joins NATO, it will bolster Biden’s reputation as a US leader who reinvigorated and expanded the bloc. Biden had said before leaving the US that Ukraine was not ready to join. Erdogan’s move was also a severe blow to Russian President Vladimir Putin. “This really isn’t about Sweden, this is about the United States and Turkey and Turkey’s role,” she told Jake Tapper.

Persons: Joe Biden, Recep Tayyip Erdogan, Finland –, Ukraine –, George H.W, George H.W . Bush, Biden, Erdogan’s, Vladimir Putin, Putin, Erdogan –, –, Russia’s, Erdogan, Jens Stoltenberg, ” Stoltenberg, Jake Sullivan, Ulf Kristersson, “, ” Sullivan, Chuck Schumer, ”, Stoltenberg, Sen, Bob Menendez, Menendez, National Intelligence Beth Sanner, Jake Tapper, Volodymyr Zelensky Organizations: CNN, NATO, European Union, Kremlin, West, East, NATO “, Swedish, New, New York Democrat, America, EU, Kurdistan Workers ’ Party, Senate Foreign Relations, The New, The New Jersey Democrat, “, National Intelligence Locations: Europe, Ukraine, Lithuania, Sweden, Turkey, Finland, George H.W ., Germany, Russia, United States, Washington, Syria, Madrid, Vilnius, ”, New York, Ankara, Eurasia, Turkish, Stockholm, Greece, The, The New Jersey, “ Turkey, Mariupol

☆ As Turkey heads to the polls, currency traders are bracing for absolute chaos
▼ + stars: | 2023-05-12 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Turkey is expected to head to the polls on Sunday. In the event of a victory by Erdogan, it's "highly likely the Turkish lira collapses within months," the founder of advisory firm Cribstone Strategic Macro Mike Harris told CNBC. "Ultimately the lack of confidence in investment will mean that the Turkish Lira will probably be among the worst performing currencies in the world for some time," he said. Turkey's monetary policy prioritizes the pursuit of growth and export competition rather than assuaging inflation. Erdogan endorses the unconventional view that raising interest rates increases inflation, rather than taming it.

WASHINGTON, April 26 (Reuters) - The U.S. House of Representatives will vote on a Republican bill to raise the U.S. government's $31.4 trillion debt ceiling and slash spending on Wednesday, after days of negotiations to win the support of reluctant Republican lawmakers. A procedural vote to allow debate on the bill passed in a 219-210 party-line vote earlier on Wednesday. Republican critics including hardline House Freedom Caucus Chairman Scott Perry and Representative Nancy Mace said they had dropped their opposition to the bill. Bending to the far-right wing of the party, Republicans also accelerated some new, tougher work requirements for receiving Medicaid healthcare benefits for the poor. House Republicans are offering to increase Washington's borrowing authority by $1.5 trillion or until March 31, whichever comes first.

WASHINGTON, April 26 (Reuters) - A Republican bill that would raise the U.S. government's $31.4 trillion and slash spending took a step forward in the House of Representatives on Wednesday, after party leaders agreed to last-minute changes in the face of opposition. House Speaker Kevin McCarthy allowed overnight changes to the bill aimed at assuaging Midwestern Republican concerns about biofuel tax credits and conceding to hardliners' calls to toughen work requirements for some low-income Americans. McCarthy told reporters on Wednesday that the House would vote later in the day. Other Republican critics including hardline House Freedom Caucus Chairman Scott Perry and Representative Nancy Mace said they had dropped their opposition to the bill. House Republicans are offering to increase Washington's borrowing authority by $1.5 trillion or until March 31, whichever comes first.

WASHINGTON, April 26 (Reuters) - Republican U.S. House Speaker Kevin McCarthy said lawmakers would vote on Wednesday on a bill to raise the $31.4 trillion federal debt ceiling and slash spending, despite lingering dissension within their ranks over the measure. Another critic of the bill, hardline House Freedom Caucus Chairman Scott Perry, said he and other conservatives who had held out for changes to work requirements were ready to move forward. Representative Kevin Hern, chairman of the 175-member Republican Study Committee, welcomed the changes, which he said most Republicans would support. Bending to the far-right wing of the party, Republicans also accelerated some new, tougher work requirements for receiving Medicaid healthcare benefits for the poor. House Republicans are offering to increase Washington's borrowing authority by $1.5 trillion or until March 31, whichever comes first.

WASHINGTON, April 26 (Reuters) - Republican U.S. House Speaker Kevin McCarthy said lawmakers would vote on Wednesday on a bill to raise the $31.4 trillion federal debt ceiling and slash spending, despite lingering dissension within their ranks over the bill. Representative Kevin Hern, chairman of the 175-member Republican Study Committee, welcomed the changes, which he said most Republicans would support. Several House Republicans, particularly from Midwestern states, had rebelled against that provision. Bending to the far-right wing of the party, Republicans also accelerated some new, tougher work requirements for receiving Medicaid healthcare benefits for the poor. House Republicans are offering to increase Washington's borrowing authority by $1.5 trillion or until March 31, whichever comes first.

☆ China resorts to extraordinary measures to soothe entrepreneurs amid deep retreat of private business
▼ + stars: | 2023-04-17 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —After years of regulatory crackdowns and draconian Covid curbs, private entrepreneurs in China are low on enthusiasm. If anything, the private sector seems to be retreating even more so far this year. State-led investment surged 10.5%, while private investment increased a mere 0.8%. In 2022, state investment rose 10.1%, while private investment ticked up 0.9%. “We always regard private enterprises and private entrepreneurs as people on our own side,” Xi said.

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