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GE lifts 2021 earnings forecast
  + stars: | 2021-10-26 | by ( Reuters Staff | )   time to read: +1 min
FILE PHOTO: The General Electric logo is pictured on working helmets during a visit at the General Electric offshore wind turbine plant in Montoir-de-Bretagne, near Saint-Nazaire, western France, November 21, 2016. REUTERS/Stephane Mahe/File PhotoCHICAGO (Reuters) -General Electric Co announced an upward revision to its full-year earnings forecast on Tuesday after reporting higher than expected third-quarter profit. GE said it expects revenue growth, margin expansion, and higher free cash flow next year. However, it narrowed free cash flow estimates for 2021 to $3.75 billion-$4.75 billion from $3.5 billion-$5.0 billion forecast earlier. Analysts on average expected GE to report an adjusted profit of 43 cents per share, according to Refinitiv data.
Persons: Stephane Mahe, Joe Biden’s Organizations: General, REUTERS, CHICAGO, General Electric Co, GE Locations: Montoir, Bretagne, Saint, Nazaire, France, Boston
U.S. President Joe Biden speaks to reporters before departing for Newark, New Jersey, from the Delaware Air National Guard Base, New Castle, Delaware, U.S., October 25, 2021. The United States has not met with the Association of Southeast Asian Nations at the presidential level since Biden's predecessor, Donald Trump, attended an ASEAN-U.S. meeting in Manila in 2017. A day after the ASEAN summit, Biden will participate in the broader East Asia Summit, which brings together ASEAN and other nations in the Indo-Pacific region, a senior U.S. administration official said. U.S. officials have, however, avoided specific mention of China in the run-up to the meetings as they work to set up a virtual summit between Biden and Chinese leader Xi Jinping later this year. While planning to provide a modest sum to promote trade with ASEAN, Biden has given no sign of any plan to return to a regional trade framework Trump withdrew from in 2017.
Persons: Joe Biden, Jonathan Ernst, BANDAR SERI BEGAWAN, Donald Trump, Biden, Xi Jinping, Edgard Kagan, Washington, Kagan, Min Aung Hlaing, David Brunnstrom, Simon Cameron, Moore Organizations: Delaware Air National Guard Base, REUTERS, WASHINGTON, Southeast, United, Association of Southeast Asian Nations, ASEAN, East Asia Summit, U.S, China, East Asia, White House National Security Council, Trump, Myanmar, Thomson Locations: Newark , New Jersey, New Castle , Delaware, U.S, BANDAR, Washington, China, United States, Manila, China . U.S, Brunei, India, Japan, Australia, ASEAN's, NATO, Asian, Southeast Asia, Myanmar
Defense lawyers and at least one federal judge have warned the delays may be infringing on defendants’ rights to speedy trials. New video evidence was unearthed against Robert Reeder, of Maryland, the morning that he was scheduled to be sentenced on misdemeanor charges. That led prosecutors to postpone the sentencing to determine if they would pursue additional felony charges based on the new evidence. The Washington Department of Corrections said in a statement that it has “a several-weeks-long waitlist” for inmates to access evidence. Julian Khater, who is charged with assaulting Capitol Police, was in jail almost seven months before he was given access to the video evidence, said his attorney Chad Seigel.
Persons: Donald Trump, Leah Millis, Joe Biden’s, Department prosecutes, Judge Amit Mehta, “ We’ve, It’s, ” Mehta, , what’s, we’ve, they’ve, Robert Reeder, , Michelle Peterson, Jessica Watkins, General Merrick Garland, Julian Khater, Chad Seigel, Paul Friedman Organizations: WASHINGTON, U.S, Capitol, REUTERS, Department, FBI, Justice Department, Boston Marathon, D.C, Washington Department of Corrections, Capitol Police, District Locations: Washington , U.S, U.S, York, New York, New Jersey, Maryland, Washington
Biden backs taxing the wealthy and corporations more heavily and has privately supported the proposal focused on taxing billionaires, according to a person familiar with his thinking. Republicans do not support Biden’s social spending bill and will also likely oppose the billionaire tax. The capital gains tax for assets held over a year top out at 23.8% currently, less than the 37% maximum for regular income. A ProPublica report in June said Soros paid no federal income tax for three years in a row. Still, the proposal would put new pressure on the IRS, which enforces U.S. tax law and has been hollowed out here by budget cuts and hobbled by obsolete technology.
Persons: Erin Scott, Nancy Pelosi, , , Leon Cooperman, Gabriel Zucman, ” Zucman, Joe Biden, Joe Manchin, that’s, Tim Laffey, Mitch McConnell, George Soros, Soros, Jeff Bezos, Tesla, Elon Musk Organizations: WASHINGTON, Democratic, U.S, REUTERS, University of California, Biden, Rockefeller Capital Management, Revenue Service Locations: Washington , U.S, Berkeley
The Biden administration is greasing the wheels of the struggling federal rental aid program, but many renters are still being left out. The Emergency Rental Assistance Program was born out of the Covid relief bill that Congress passed in December to help low- and moderate-income households behind on their rent and utilities. In the early months of the program, the money was slow to flow; federal data show that the pace of emergency rental aid going to tenants has increased in recent months. "While we know that Oregon has millions of dollars to distribute emergency rental assistance ... the truth is that the courts are open and that evictions are happening." Last year, Amber Cook lost her job as a tax preparer because of the pandemic and turned to rental assistance to pay her bills after her unemployment benefits ran out.
Persons: Biden, Kim McCarty, McCarty, Wally Adeyemo, Amber Cook, Cook, Diane Yentl, Tasya Peterson, DES, Greg Brown, we've Organizations: Court, Princeton University, Treasury Department, Treasury, Community Alliance of Tenants, Income Housing Coalition, Arizona Department of Economic Security, U.S . Treasury, Association Locations: Oregon, Portland
"Australians want action on climate change. They’re taking action on climate change, but they also want to protect their jobs and their livelihoods. “I also want to protect the Australian way of life, especially in rural and regional areas. Morrison struggled to gain backing for the net zero target from his coalition government's junior partner, the National Party, which has a regional power base reliant on agriculture and mining. However, the party said on Sunday it would support a net zero target.
Persons: Scott Morrison, Joe Biden, Evelyn Hockstein CANBERRA, Morrison, , , ” Morrison, Critics, Kelly O’Shanassy, Colin Packham, Renju Jose, Jane Wardell, Michael Perry, Edwina Gibbs Organizations: Australia's, Leaders, U.S, White, REUTERS, United, Labor, Australian Conservation Foundation, government's, National Party, Australian Financial, Thomson Locations: Washington , U.S, Australia, United Nations, Glasgow, Canberra
WASHINGTON — The White House on Monday rejected another executive privilege request by former President Donald Trump over documents sought by the House committee investigating the Jan. 6 attack on the U.S. Capitol. She added, "Accordingly, President Biden does not uphold the former President's assertion of privilege." Trump sued last week to block the Jan. 6 committee — seven Democrats and two Republican — from obtaining the first batch of documents from the archives. After those requests, Trump notified the archives that he was formally asserting executive privilege. Biden administration officials have said they plan to consider the requests from the committee case by case.
Persons: WASHINGTON, Donald Trump, Dana Remus, Joe Biden, Biden, Trump, Remus Organizations: U.S . Capitol, NBC News, White, National Archives, CNN, Federal Locations: United States
The Senate voted Monday to confirm voting rights advocate Myrna Pérez as a judge on the 2nd U.S. Pérez was confirmed on a 48-43 vote as the country is gripped in a struggle over voting rights. "With the national focus on voting rights now, it's a significant step to elevate Ms. Perez," Schumer said. When she was nominated, Schumer, D-N.Y., praised Pérez as one of the country’s foremost experts on elections and voting rights. She clerked for U.S. District Judge Anita Brody of Eastern Pennsylvania and for appeals Judge Julio Fuentes of the 3rd Circuit.
Persons: Myrna Pérez, Sonia Sotomayor, Pérez, Carlos Bollar, Chuck Schumer, Perez, Schumer, University’s, Joe Biden, Brennan, John Lewis, Myrna Pérez’s, Brian Fallon, , ” Fallon, Anita Brody, Julio Fuentes, Biden, , Nil Sanchez, Thomas Saenz Organizations: U.S, Circuit, Supreme, Hispanic National Bar Association, Center for Justice, Judiciary, Brennan Center for Justice, John Lewis Voting, Republicans, Demand, Yale University, Harvard University, Columbia University, U.S . Postal, New York Times, Alliance, Justice, Senate, American Latino Defense, Educational Fund, NBC, Facebook, Twitter Locations: New, New York , Vermont, Connecticut, New York, Vermont, San Antonio, Eastern Pennsylvania, Mexico
spokeswoman confirmed that Ms. Rosenworcel knew her husband would contact The Times about the article. The White House screens all potential nominees’ spouses for possible financial conflicts of interest. Ms. Rosenworcel said a top priority was narrowing the “homework gap,” the educational disadvantage experienced by students who lack internet at home. vacancies could hold up the distribution of $65 billion in broadband funding allocated to the F.C.C. and other agencies, and the continuing distribution of $27 billion in pandemic aid aimed at expanding access to the internet for struggling households.
Persons: , Bailen’s, Jones, Infowars, Rosenworcel, Biden, Trump, Kamala Harris’s, Doug Emhoff, DLA Piper, Max Stier, “ We’re, “ I’m, Richard Blumenthal, Mr, Ms Organizations: Times, Partnership for Public Service, White, , Broadband, Democratic Locations: Richard Blumenthal of Connecticut
Biden to attend ASEAN summit Trump skipped after 2017
  + stars: | 2021-10-26 | by ( )   time to read: +2 min
The U.S. embassy in Brunei told Reuters Biden will lead the U.S. delegation for the ASEAN-United States summit, part of a series of ASEAN leaders' meetings this week. The United States has not joined the meetings at the presidential level since Biden's predecessor, Donald Trump, attended an ASEAN-U.S. meeting in Manila in 2017. Analysts say Biden's meeting with the 10-nation bloc reflects his administration's efforts to engage allies and partners in a collective effort to push back against China. U.S. officials, however, have not made specific mention of China in the run-up to the meeting as they work to set up a virtual summit between Biden and Chinese leader Xi Jinping later this year. They expect Biden to focus on collaboration on Covid-19 vaccine distribution, climate, supply chains and infrastructure.
Persons: Antony Blinken, Retno Marsudi, Kena Betancur, Joe Biden, Reuters Biden, Biden, Donald Trump, Xi Jinping, Edgard Kagan, Washington Organizations: Indonesian Foreign, Foreign, ASEAN Nations, UN, Assembly, AFP, Getty, Association of Southeast Asian Nations, China, Reuters, U.S, ASEAN, East Asia, White House National Security Council Locations: New York, Washington, The U.S, Brunei, United States, Manila, China . U.S, China, U.S, India, Japan, Australia, ASEAN's, NATO
A bird flies near the Association of Southeast Asian Nations (ASEAN) secretariat building, ahead of the ASEAN leaders' meeting in Jakarta, Indonesia, April 23, 2021. REUTERS/Willy KurniawanBANDAR SERI BEGAWAN, Oct 26 (Reuters) - A summit of Southeast Asian leaders got underway on Tuesday without a Myanmar representative, after its junta leader was excluded for failure to follow a regional peace deal and the ruling military refused to send junior representation. Neither Brunei, the Association of Southeast Asian Nations (ASEAN) chair, nor the bloc's secretary-general made a mention of the no-show in opening remarks at the virtual meeting. Brunei had said the bloc would invite a non-political representative from Myanmar, but there was no confirmation of this by the opening of the summit. In deciding to sideline the Myanmar junta boss, ASEAN cited his failure to make steps to end hostilities, initiate dialogue, allow humanitarian support and grant a special envoy full access in the country.
Persons: Willy Kurniawan BANDAR, BEGAWAN, Min Aung Hlaing, Joe Biden, Suu Kyi's, Michael Vatikiotis, Bandar Seri Begawan, Tom Allart, Kay Johnson, Michael Perry Organizations: Association of Southeast Asian Nations, ASEAN, REUTERS, Assistance Association for Political, National Unity Government, EU, Ain, Thomson Locations: Jakarta, Indonesia, Myanmar, Brunei, U.S, United States, China, South Korea, ASEAN, Cambodia, Laos, Malaysia, Philippines, Singapore, Thailand, Vietnam, Asia, Geneva, Bandar Seri
Medical staff prepare Moderna coronavirus (COVID-19) vaccine to be administered at newly-opened mass vaccination centre in Tokyo, Japan, May 24, 2021. Getting access to Moderna vaccines adds diversity to the AU's vaccine supply with different storage requirements. "We are grateful to have helped negotiate this encouraging step forward between Moderna and the African Union that will significantly expand access to vaccines on the continent in the near-term," Quillian said. "This is the first step in our long-term partnership with the African Union," Moderna Chief Executive Stéphane Bancel said in a statement, referring to a Memorandum of Understanding to make up to 110 million doses for the AU. Last month, the AU accused COVID-19 vaccine manufacturers of denying African countries a fair chance to buy vaccines and urged manufacturing countries, in particular India, to lift export restrictions on vaccines and their components.
Persons: Carl Court, Masiyiwa, Biden, Natalie Quillian, Quillian, Moderna, Stéphane Bancel, COVID, Jeff Mason, Robert Birsel Organizations: Moderna, REUTERS, African Union, Moderna Inc, White, Reuters, ., AU, African, Thomson Locations: Tokyo, Japan, REUTERS WASHINGTON, United States, Africa, Moderna, African Union, COVID, India
U.S. Treasury Secretary Janet Yellen answers questions during the Senate Appropriations Subcommittee hearing on Capitol Hill in Washington, D.C., U.S., June 23, 2021. Greg Nash/Pool via REUTERSBEIJING, Oct 26 (Reuters) - China's Vice Premier Liu He spoke with U.S. Treasury Secretary Janet Yellen on Oct. 26 via video call and talked about the macroeconomic situation and bilateral relations, according to a statement from China's commerce ministry. Yellen "frankly raised issues of concern," the U.S. Treasury later said in a short separate statement, which did not elaborate on the concerns but added that Yellen looked forward to future discussions with Liu. Liu, who has led China's negotiations in Sino-U.S. trade talks since former U.S. President Donald Trump embarked on a trade war with Beijing, has held talks with both Yellen and U.S. Trade Representative Katherine Tai earlier this year. read moreReporting by Gabriel Crossley; Editing by Christopher Cushing and Richard PullinOur Standards: The Thomson Reuters Trust Principles.
Persons: Janet Yellen, Greg Nash, Liu, Yellen, Donald Trump, Katherine Tai, Joe Biden, Tai, Trump, Gabriel Crossley, Christopher Cushing, Richard Pullin Organizations: Treasury, Capitol, Washington , D.C, REUTERS, U.S, U.S . Treasury, . Trade, China, Thomson Locations: Washington ,, REUTERS BEIJING, China, Sino, U.S, Beijing
Though she became chancellor in 2005, Ms. Merkel’s leadership was more short-lived than many realize. It wasn’t until the eurozone crisis, which began in 2010 and sent borrowing costs soaring across the bloc, that Ms. Merkel became a European powerhouse. Ms. Merkel became the central player in all the big questions Europe faced. In 2014, she pushed a divided European Union into agreeing on collective sanctions against Russia over the annexation of Crimea. For her last act of European leadership, Ms. Merkel tried to seal Europe’s orientation toward China.
Persons: Merkel’s, Merkel, Nicolas Sarkozy, Sarkozy, Silvio Berlusconi, Sarkozy’s, , Macron, Joe Biden Organizations: Russia, North, Comprehensive Locations: European, France, Crimea, Union, Turkey, Europe, North Macedonia, Albania, China, America
Recent polls shows Americans’ concerns over inflation are eroding their economic confidence and dimming their view of Mr. Biden’s performance. Mr. Biden’s top officials stress that the administration’s policies have helped accelerate America’s economic rebound. Car prices are elevated as a result of strong demand and a lack of semiconductors. A shift in consumer preferences and a pandemic crimp in supply chains have delayed shipments of furniture, household appliances and other consumer goods. Millions of Americans, having saved up money from government support through the pandemic, are waiting to return to jobs, driving up labor costs for companies and food prices in many restaurants.
Persons: Ronald Reagan, Biden’s, Kate Berner Organizations: CNBC, Fox News, Administration, White House, Workers
THE GLOBAL ECONOMY: China's economy is teetering on the brink of disaster. If the bottom falls out, the whole world could be dragged down by the collapse of its second-largest economy. Now the country needs people to actually use, and pay for, everything that's been built," Insider's Linette Lopez writes. Now the country needs people to actually use, and pay for, everything that's been built," Insider's Linette Lopez writes. Economists expect this ideological shift to slow growth even more, which in turn would make China's attempts to transform its economy that much more precarious.
Persons: Phil Rosen, that's, Insider's Linette Lopez, Morgan Stanley, Xi Jinping, Trump, Read, Xi, Mark Zuckerberg, Frances Haugen, Zuckerberg, Joe Biden, There's, Democratic Sen, Joe Manchin, Mitch McConnell, Olivier Douliery, Here's, Donald Trump, Lori Lightfoot, Dave Chappelle, he's, Chappelle, Winston Churchill Organizations: iOS, Android, Communist Party, European Union, China, Facebook, Washington Post, New York Times, Democratic, DC Marijuana, Getty, Top, Republicans, Associated Press, New York, Police Benevolent Association, Times, Trump, Netflix, CNN, White House Locations: Beijing, China, Xinjiang, Vietnam, AFP, EU, Sudan, York, New York, Chicago
Austin Ramzy andModerna agrees to sell up to 110 million Covid vaccine doses to African countries. The African Union has ordered 220 million doses of Johnson & Johnson’s single-shot vaccine, with the option to order 180 million more. A shortfall in expected deliveries from Covax this year has left African countries scrambling to come up with alternative plans to vaccinate their populations. Image Waiting for shuttle buses to mandatory government-designated quarantine hotels in the arrival hall at the Hong Kong International Airport in August. Hong Kong has recorded just two locally transmitted cases in the past five months, but Mrs. Lam said the city had still not met Beijing’s standards.
Persons: Zhang Hao, Austin Ramzy, Zohra Bensemra, Moderna, Stéphane Bancel, Biden, Jerome Favre, Europe —, Carrie Lam, Mrs, Lam, Hong, Hong Kong Organizations: Moderna, Union, Associated Press, , Nationwide, Alxa League, Reuters, New York Times, European Union, African Union, African, Johnson, United Nations, Hong Kong International Airport, ., Asia Securities Industry, Financial Markets Association, Hong Locations: Lanzhou, China, Gansu Province, Inner Mongolia, Beijing, Hunan, Hubei, Hainan, Fujian, Dakar, Senegal, Africa, United States, African, Covax, Hong Kong, , Europe, Hong,
Though he never directly criticizes the president, Mr. McAuliffe has repeatedly highlighted the political risk posed by congressional inaction on the president’s legislative agenda. “We are facing a lot of headwinds from Washington,” Mr. McAuliffe, a former chairman of the Democratic National Committee, said during a virtual call with supporters this month. But it was a sharp departure from earlier in the race when Mr. McAuliffe predicted his state would “take off like a booster rocket” if he was elected governor and could work with Mr. Biden. “I love the guy,” Mr. McAuliffe said of Mr. Biden at the time. Wes Bellamy, a co-chair of Our Black Party, which promotes the political priorities of Black voters, said Mr. Biden was not inspiring the same sort of loyalty from Black voters that Mr. Obama did.
Persons: McAuliffe, Youngkin, Biden, Nancy Pelosi, ” Mr, Mr, , Biden’s, Trump, Wes Bellamy, Obama Organizations: White, Democratic National Committee, Democratic, Black Party, Black Locations: Virginia, Washington
For more than a century, the nation grew rapidly on their coal. As countries and companies around the world pledge to reduce carbon emissions, coal is now a liability. Regulators in West Virginia just opted to make expensive upgrades to three coal-fired power plants rather than shut them down. Appalachia could be a center of clean manufacturing, electric cars and tourism based on the region’s stunning natural beauty. One of the first real flickers of hope for getting anything close came from the Biden administration’s Build Back Better agenda, which included proposals that echoed many of Reimagine Appalachia’s.
Persons: , , Amanda Woodrum Organizations: Regulators, East, West Coasts, , Columbus , Ohio —, Biden Locations: Stockholm, West Virginia, Appalachia, Ohio, West Virginia , Pennsylvania, Kentucky, West, Pittsburgh ; Louisville, Ky, Columbus , Ohio, The Washington, Middle America
Enormous pension funds serving New York City and state employees have announced that they will sell stocks; earlier this year, the Maine legislature ordered the state’s retirement fund to divest; and just last month, Quebec’s big pension fund joined the tide. Mayors of big cities have pledged their support, including Los Angeles, New York, Berlin and London. This month also saw the first big bank — France’s Banque Postale — announce that it would stop lending to fossil fuel companies before the decade was out. Later this week, the heads of the big oil companies will testify before Congress about whether their companies misled the public about global warming and sought to stymie action on the problem. Now many investors are putting their money into clean energy, where returns have risen by an annual rate of 22 percent over the same period.
Persons: , Pope, Banque Postale —, , Al Gore, Michael Benson, Peabody, Shell Organizations: New, Rockefeller, Ford Foundation, Banque Postale, Big, Biden, Sunrise Movement Locations: New York City, Maine, U.S, Los Angeles , New York, Berlin, London, Ireland, United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBiden's administration 'talks more than it walks' when it comes to China trade issues: Ex-WTO chiefPascal Lamy, former director-general of the World Trade Organization, says the Biden administration's "margin of maneuver" is extremely limited when it comes to U.S.-China trade negotiations because of domestic politics. That is unlikely to change before the 2022 mid-term elections, he says.
Persons: Pascal Lamy, Biden Organizations: WTO, World Trade Organization Locations: China, U.S
Rep. Mo Brooks shifted blame onto his staff for his alleged role in planning the "Stop the Steal" rally. Two planners told Rolling Stone that Brooks had been in contact with organizers for the event. Brooks said he had "no involvement" in planning it but said his staff may have done. "I don't know if my staff did", Brooks responded when asked if he was part of the planning ofr for "Stop the Steal" event. Brooks was responding to a Rolling Stone report which identified him as one of the lawmakers involved in planning the rally outside the Capitol building in Washington, DC.
Persons: Mo Brooks, Stone, Brooks, Melanie Zanona, Joe Biden's, Steve Bannon, Trump, Paul Gosar, Lauren Boebert, Madison Cawthorn, Andy Biggs, Louie Gohmert, Ali Alexander, Gosar, Biggs, Alexander Organizations: Service, Twitter, CNN Capitol Hill, Capitol, Trump, Stone, DC, Washington Post Locations: Washington , DC
Alex Wong/Getty ImagesThe SEC has secured authority over stablecoin regulation, Bloomberg reported on Monday. A highly-anticipated report laying out the SEC's powers will detail the government's role in stablecoin regulation. The Securities and Exchange Commission has won a debate among US agencies to propose legislation and oversee the $131 billion stablecoin market, Bloomberg reported on Monday. These developments suggest the government will have clear and active authority over the stablecoin market, while waiting for longer-term plans to be enacted. Prior versions of the report called on Congress to create a bank-like charter that would treat stablecoin issuers as if they are banks.
Persons: Gary Gensler, Alex Wong, Bloomberg, Biden, Jaret, it's Organizations: SEC, Bloomberg, The Securities, Exchange Commission, Treasury, Commodity, Futures Trading, Cowen, Financial Markets, bitcoin Locations: New York
John Thys | AFP | Getty ImagesAmericans aren't buying electric vehicles, they're buying Teslas. But that's starting to change as so-called traditional automakers and start-ups invest billions in a slew of new electric vehicles to compete against Tesla. The influx of EVs — from a couple dozen today to estimates of hundreds of new models by 2025 — are expected to eat away at Tesla's market share in the coming years. "In a growth market, it's extremely challenging to maintain majority market share, regardless of industry. IHS Markit expects electric vehicles to make up about 40% of the U.S. industry by 2030.
Persons: John Thys, That's, EVs, , Tesla's, Michael Fiske, Tesla, IHS Markit, Jeff Schuster, Joe Biden's Organizations: AFP, Getty, IHS, Tesla, Motors, Volkswagen, Ford, Tesla's U.S, LMC Automotive, General Motors, AutoForecast Solutions Locations: Amsterdam, U.S
U.S. President Joe Biden delivers remarks on his Build Back Better infrastructure agenda at the NJ TRANSIT Meadowlands Maintenance Complex in Kearny, New Jersey, U.S., October 25, 2021. REUTERS/Jonathan Ernst/FilesWASHINGTON, Oct 26 (Reuters) - U.S. President Joe Biden will announce plans to provide up to $102 million to expand the U.S. strategic partnership with the Association of Southeast Asian Nations (ASEAN) at a virtual summit with the 10-nation bloc on Tuesday, the White House said. The U.S. funding will go towards health, climate, economic and education programs, a White House factsheet said. Another $17.5 million is earmarked for education projects and $4 million to promote gender equality and equity, it said. Biden's participation in the virtual summit will mark the first time in four years that Washington will engage at the top level with a bloc that it sees as key to its strategy of pushing back against China.
Persons: Joe Biden, Jonathan Ernst, Biden, David Brunnstrom, Christopher Cushing Organizations: NJ TRANSIT, REUTERS, Association of Southeast Asian Nations, ASEAN, East Asia Summit, Thomson Locations: Kearny , New Jersey, U.S, Washington, China
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