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WASHINGTON (Reuters) - At U.S. Treasury Secretary-designate Janet Yellen’s confirmation hearing Tuesday she nodded to the need for the federal debt to be put on a “sustainable” path, at least eventually. Forget about the amount being borrowed, Yellen, a former Federal Reserve chair, told members of the Senate Finance Committee. For a graphic on Can the U.S. “act big” on spending? Republican-allied economists like Michael Strain have argued that U.S. levels of borrowing can’t be ignored forever, but are a longer-term concern that should not detract from any crisis response. “What we’re seeing is that even though the amount of debt relative to the economy is going up, the interest burden hasn’t.”
Persons: Janet Yellen’s, nodded, Janet Yellen, Christopher Aluka Berry, Joe Biden’s, ” Yellen, , John Thune, Olivier Blanchard, Blanchard, Michael Strain, Jerome Powell, Jason Furman, Barack Obama’s, Organizations: WASHINGTON, U.S, Treasury, Federal, American Economic Association, Allied Social Science Association, REUTERS, Federal Reserve, Senate Finance Committee, White House, Democrats, South Dakota Republican, International Monetary, Republican, Economic Advisers Locations: Atlanta , Georgia, U.S, Greece, Washington
Factbox: Possible candidates for Vietnam's leadership transition
  + stars: | 2021-01-21 | by ( Reuters Staff | ) + 0.00   time to read: +3 min
REUTERS/KhamVietnam has no paramount ruler and is officially led by four ‘pillars’: the chief of its Communist Party, a president, a prime minister and the National Assembly chair. The prospect of a candidate without the economic prowess of the incumbent Phuc has brought the role of Vietnam’s first deputy prime minister into greater focus. If selected, Chinh would be the first Vietnamese PM not to have previously served as a deputy prime minister. He is currently Secretary of the Hanoi Communist Party Committee, and has been tipped by analysts to become National Assembly chair. A trained economist as well as a former deputy prime minister, Hue has also been identified as a potential prime ministerial candidate.
Persons: Nguyen Phu Trong, Nguyen Thi Kim Ngan, Nguyen Xuan Phuc, PHU TRONG, Trong, Le Duan, Ho Chi Minh, NGUYEN XUAN PHUC, Phuc, PHAM MINH CHINH, 62Chinh, Vietnam’s, Chinh, Hue Organizations: Communist Party, Communist Party and State, National, ASEAN, REUTERS, National Assembly, Association of Southeast Asian Nations, Central Organisation Commission, Party, of Public Security, Hanoi Communist Party Committee Locations: HANOI, Hanoi, Vietnam, Kham Vietnam, Hue
FILE PHOTO: Police officers patrol past a poster for the upcoming 13th national congress of the Communist Party of Vietnam on a street in Hanoi, Vietnam January 20, 2021. The new Politburo will go on to nominate a new cabinet, which Vietnam’s National Assembly will approve in the following months. Surprises can happen - during the last congress, then-prime minister Nguyen Tan Dung was ousted from the leadership group altogether. While events at the last congress and a subsequent crackdown on corruption have deepened factional fault lines across Party ranks, anything but continuity in Vietnam’s economic and political policy-making after the congress would surprise country watchers. Phuc’s ascent would leave the economically focused Prime Minister role open.
Persons: Nguyen Tan Dung, Nguyen Phu Trong, ideologues, Trong, Le Duan, Ho, Nguyen Xuan Phuc, Phuc, Pham Minh Chinh, Dinh, ‘ Doi Moi, Vietnam’s Organizations: Police, Communist Party of Vietnam, REUTERS, National, Central Committee, Committee, Party, National Assembly, Central, PM, Hanoi Party Committee Locations: HANOI, Vietnam, Hanoi, Kham, COVID, United States, China, Ho Chi, U.S
WASHINGTON (Reuters) - The U.S. Senate Finance Committee is unlikely to vote on the nomination of Janet Yellen for Treasury Secretary until next week, congressional sources said on Wednesday despite a push by Democrats to confirm her on Thursday. The Treasury named Didem Nisanci as chief of staff and Calvin Mitchell as assistant secretary for public affairs and Jacob Leibenluft as counselor to the Treasury secretary. Nisanci, previously Bloomberg LP’s global head of public policy, had served as chief of staff at the Securities and Exchange Commission during the Obama administration. Leibenluft, a senior fellow at the Center for American Progress, had been deputy director of the National Economic Council during the Obama administration. Marti Adams, who served in Treasury public affairs during the Obama administration and later worked in communications for New York Mayor Bill DiBlasio, was named Executive Secretary.
Persons: Janet Yellen, Joe Biden's, Biden, Leah Millis, Joe Biden, Yellen, Steven Mnuchin, Mitch McConnell, Chuck Schumer, Kamala Harris, Didem Nisanci, Calvin Mitchell, Jacob Leibenluft, Nisanci, Obama, Mitchell, Clinton, Marti Adams, Bill DiBlasio Organizations: WASHINGTON, U.S . Senate, Treasury, REUTERS, Senate, Senate Finance Committee, Republican, Democratic, Bloomberg, Securities and Exchange Commission, Federal Reserve Bank of New, Thomson Reuters, Center for American Progress, National Economic Council, New York Locations: U.S, Wilmington , Delaware, Federal Reserve Bank of New York
FILE PHOTO: Avril Haines speaks during her confirmation hearing before the Senate Intelligence Committee to be President-elect Joe Biden's national intelligence director in Washington, DC, U.S. January 19, 2021. Joe Raedle/Pool via REUTERS/File pHotoWASHINGTON (Reuters) - The U.S. Senate on Wednesday approved Avril Haines as the Director of National Intelligence, the nation’s top intelligence job, making her the first of President Joe Biden’s nominees to be approved. The vote was 84-10, with all the “no” votes coming from Republicans.
Persons: Avril Haines, Joe Biden's, Joe Raedle, Joe Biden’s Organizations: Senate Intelligence Committee, U.S, Senate, National Intelligence, Republicans Locations: Washington , DC, U.S, WASHINGTON
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTough policies on China will continue under Biden, but with a more conciliatory tone, Adelman saysDavid Adelman, trustee at the National Committee on American Foreign Policy and former U.S. ambassador to Singapore, discusses what to expect from U.S.-China relations under the Biden Administration.
Persons: Biden, Adelman, David Adelman Organizations: National Committee, American Foreign Policy, Biden Administration Locations: China, U.S, Singapore
Salomon Melgen: Trump commuted the prison sentence of Melgen, an eye doctor and major Democratic donor convicted of defrauding Medicare patients. Urlacher faced two counts in the case, each of which had carried a potential prison sentence of five years. Here is the full list, as provided by the White House:Abel Holtz – President Trump granted a full pardon to Abel Holtz. Jaime A. Davidson – President Trump commuted the sentence of Jaime A. Davidson. Those assisted by Ms. Povah’s organization include Ms. Adrianne Miller, whose remaining prison sentence the President commuted.
Persons: Donald Trump, Steve Bannon, Elliott Broidy, Alex Adjmi, Adjmi, Fred Keith Alford, Alford, Michael Ashley, Ashley, Stephen K, Bannon, Trump's, , Guo Wengui, Lynn Barney, Trump, David Barren, Barack Obama, Faustino Bernadett, Bernadett, , , Carl Andrews Boggs, Boggs, Kristina Bohnenkamp, Todd Boulanger, Jack Abramoff, Boulanger, Abramoff, Jonathon Braun, Braun, Broidy, Dwayne Michael Carter Jr, Carter, Lil Wayne, Randall “ Duke ” Cunningham, Paul Erickson, Erickson, Rodney Nakia Gibson, Gibson, Jeffrey Rosen, couldn’t, George Gilmore, Gilmore, Chris Christie, Gregory, Martin Jorgensen, Deborah Jorgensen, Gregory Jorgensen, Bill K, Bill Kapri, Kwame Kilpatrick, Kilpatrick, Kenneth Kurson, Kurson, Jared Kushner, Anthony Levandowski, Salomon Melgen, New Jersey Sen, Bob Menendez, Desiree Perez, Perez, Jay, Rick Renzi, Aviem Sella, Sella, Jonathan Jay Pollard, Benjamin Netanyahu, Brian Simmons, Syrita Steib, Syrita, Steib, Patrick Lee Swisher, Patrick Swisher, Swisher, David Tamman, Tamman, Casey Urlacher, Urlacher, Brian Urlacher, Monstsho Eugene Vernon, Vernon, Blanca, Blanca Virgen, Virgen, Jerry Donnell Walden, Walden, John Harold Wall, Wall, , William Walters, Las, Walters, Harry Reid, Phil Mickelson, Eliyahu Weinstein, Weinstein, Brett Tolman, Bob Barr, Alan Dershowitz, Shalom Weiss, Weiss, Jay Sekulow, Tom Leroy Whitehurst, Whitehurst, he’s, Caroline Yeats, Chris Young, Young, Kim Kardashian, Robert, Bob, Zangrillo, Robert Zangrillo, Abel Holtz –, Abel Holtz, Representative Mario Diaz, Balart, Holtz, Jaime A, Davidson, Davidson’s, Alice Johnson, James E, Johnson, Jr, Tommaso Buti, Buti, Jawad A, Musa –, Musa, Adriana Shayota –, Adriana Shayota, Shayota, John McCann, Glen Moss, Moss, Michael Liberty, Liberty’s, Susan Austin, Matthew E, Anthony Fratianne, Liberty, Greg Reyes, Shon Hopwood, Reyes, Ferrell Damon Scott, Sam Sheldon, , Scott, Ms, Mr, Jeffrey Alan Conway, Conway’s, Gary N, Solomon, Ely Hurwitz, Conway, Benedict Olberding, Olberding, Lou Hobbs, Hobbs, Matthew Antoine Canady –, Matthew Antoine Canady, Canady, Mario Claiborne, Claiborne, Luis Fernando Sicard, Sicard, DeWayne Phelps, Phelps, Isaac Nelson –, Isaac Nelson, Nelson, Traie Tavares Kelly, Kelly, Javier Gonzales, Gonzales, Eric Wesley Patton, Rod Rosenstein, Patton, Robert William Cawthon –, Robert William Cawthon, Cawthon, Hal Knudson Mergler, Mergler, Gary Evan Hendler –, Gary Evan Hendler, Hendler, Tom Wolf, Steven Samuel Grantham, Grantham, Clarence Olin Freeman, Freeman, John Knock, Kenneth Charles Fragoso, Fragoso, Luis Gonzalez, Gonzalez, Anthony DeJohn, DeJohn, Corvain Cooper, Cooper, Long, . Long, Michael Pelletier –, Michael Pelletier, Pelletier, Craig Cesal, Cesal, Darrell Frazier, Frazier, Joe Johnson, Lavonne Roach, Roach, Robert Francis –, Robert Francis, Francis, Houston , Texas Derrick Smith, Derrick Smith, Smith, Raymond Hersman, Hersman, James Romans, Michael Harris, Harris, Kyle Kimoto, Kimoto, Chalana McFarland, McFarland, John Estin Davis, Caroline Bryan, Luke Bryan, Ellen Boyer, Amy Davis, Kim Davis, Brandon McWherter, Sheila McWherter, Jeff Hall, Brad Maltz, Brent Ford, Mark Lotito, Keri Rowland, Mark Rowland, Stephen Stock, Davis, Douglas Jemal, Jemal, Noah Kleinman –, Noah Kleinman, Kleinman, Scott Harkonen, Harkonen, Johnny D, Phillips, Rand Paul, Mahmoud Reza Banki, John Lewis, Diane Feinstein, Banki, Tena Logan, Logan, MaryAnne Locke, Locke, Jodi Lynn Richter, Richter, Mary Roberts –, Mary Roberts, Roberts, Cassandra Ann Kasowski, Kasowski, Lerna Lea Paulson, Paulson, Ann Butler, Butler, Sydney Navarro, Navarro, Tara Perry, Perry, John Nystrom, Kristi Noem, Michael Rounds, . Nystrom, Nystrom, Jessica Frease, Lynne Hix, Frease, Robert Cannon, Robin ” Hayes, Hayes, Thom Tillis, Thomas Kenton “ Ken ” Ford, Ken Ford, Ford’s, Ford, ” Jon Harder, Jon Harder, Michael Hogan, Ford Elsaesser, Harder, Judge Hogan, Elsaesser, Scott Conor Crosby, Crosby, Martha McSally, Adrianne Miller, Miller, Joshua J, Smith ., Bill Lee, Tim Burchett, Tennessee Department of Corrections Tony Parker, David Rausch, Amy Povah, Povah, Clinton, Frederick Nahas, Jeff Van Drew, Dr, Nahas, Fred “ Dave ” Clark, Dave Clark’s, Ken Starr, Clark, Todd Farha, Thaddeus Bereday, William Kale, Paul Behrens, Peter Clay –, Peter Clay, Farha, Kale, Behrens, Clay, David Rowland –, David Rowland, Lindsey Graham, Rowland, Stephen Odzer, Matthew Whitaker, Sigmund “ Sig ” Rogich, Jason Greenblatt, Michael Steinhardt, Wayne Allyn Root, Salvador Moran, Odzer, James Brian Cruz –, James Brian Cruz, Cruz’s, Robert Jeffress, Kelly Shackelford, Cruz, ” Mr, ” Steven Benjamin Floyd –, Steven Benjamin Floyd, Mark Green, Floyd, Joey Hancock, Roger Wicker, Hancock, David E, Governor Lee, ” James Austin Hayes, James Austin Hayes, Hayes’s, Paula White, Rick Hendrick, Jeff Gordon, Drew Brownstein, Makan Delrahim, Brownstein, Robert Bowker, Bowker’s, Ann Marie Pallan, Sherriff Butch Anderson, Robert Trump, Bowker, Lacey, Rudy “, Komarek, Amir Khan, Khan, Jude Children’s, Robert Sherrill –, Robert Sherrill, Sherrill, Robert S, Corkern, Cindy Hyde, Phil Bryant, Michael Mansour, David Lamar Clanton, Alton Shaw, Mark Galtelli, Terri Rielley, Clanton, Clanton’s, Hillel Nahmad, Nahmad, Brian McSwain –, Brian McSwain, McSwain, John Duncan Fordham, Fordham, William “ Ed ” Henry –, William “ Ed ” Henry of Alabama, Tommy Tuberville, Henry, Jeff Cheney, Marquis Dargon, Jennings Gilbert, Dwayne L, Harrison, Reginald Dinez Johnson, Sharon King, Hector Madrigal, Sr Organizations: America, White, Prosecutors, . Postal Inspection Service, Attorney’s, Department of Justice, Customs, Republican National Committee, Trump, California Republican, NRA, GOP, New, New Jersey Gov, New York Observer, cyberstalking, Technologies, Roc Nation, Former U.S . Rep, Israeli, Securities and Exchange Commission, Chicago Bears, National Association of Criminal Defense, U.S, University of Southern, Representative, City, City of Miami Beach, Mr, , UNICEF, St Jude's Hospital for Children, Breast Cancer, Colon Cancer Foundation, Danbury Hospital, Michael Liberty –, United, Communications, Circuit, Appeals, CAN, DO Foundation, Bureau of Prisons, Mario Claiborne –, AA, Pennsylvania, United States Navy, UNICOR, Catholic, Joe Johnson Tennis Foundation, Chalana McFarland –, United States, Middle, Middle District of, University of California, Princeton University, Sydney, Sydney Navarro –, Crowe, Sunday, Knights, Habitat, Humanity, North, North Carolina Republican Party, National Council of Republican, North Carolina Congressional, Thomas Kenton “ Ken ” Ford –, Sunwest Management Inc, Federal, Mayor, State of, Offenders, Smith . Tennessee, Tennessee Department of Corrections, Tennessee Bureau, Fred “ Dave ” Clark –, Aleph Institute, CATO Institute, Reason Foundation, National Association of Criminal Defense Lawyers, Messrs, Service, Baptist Church, First Liberty Institute, United States Marines Corps, Valor, Hendrick Motorsports, NASCAR, Antitrust, Boys & Girls, Jewish Family Services of Colorado, Miami, Humane Society of, World Wildlife Fund, Wildlife Conservation Society, St, Jude, Jude Children’s Hospital, Boys Town, Covenant, Towers Foundation, Salvation Army, Mississippi Army National Guard, District Locations: Covid, Malaysian, California, Florida, New Jersey, Detroit, Former, Arizona, Israeli, Israel, U.S, New Orleans, Charlotte , North Carolina, Mettawa , Illinois, Greenville , South Carolina, Blanca Virgen, Mexico, Las Vegas, Lakewood , N.J, Miami , FL, South Florida, City of Miami, Italian, United States, Baltimore , Maryland, Chula Vista , California, Ann's, UNICOR, Houston , Texas, American, Middle District, Middle District of Tennessee, Iranian American, Berkeley, Los Angeles, Knights of Columbus, South Dakota, North Carolina, Government, Sunwest’s, Mesa , Arizona, State of Arizona, America, overcriminalization, New York City, Dallas , Texas, Iraq, Denver, District of South Carolina
With that, Biden is under significant pressure to turn his pledges of unity and competence into results - and swiftly. The public wants to see a functional government deliver, a Biden adviser said, adding that plenty of Trump voters have been hurt by the pandemic. Yet Biden will have to contend with narrow Democratic majorities in the House and Senate, which will leave him little maneuvering room. With his thin Democratic majorities in Congress, Biden will be forced to tread carefully and not hand Republicans too large a target to exploit. Biden can be thankful for one thing: Trump will not have his Twitter account to make mischief from Day One.
Persons: Joe Biden, Biden, Tom Brenner, Donald Trump’s, , Joe Trippi, ” Biden, Douglas Brinkley, Abraham Lincoln’s, ” Brinkley, Brinkley, Biden’s, Trump, Mo Elleithee, , ” Elleithee, Barack Obama’s, Nancy Pelosi, Mitch McConnell, McConnell, Doug Heye, ” Heye Organizations: WASHINGTON, Wednesday, Lincoln Memorial, REUTERS, U.S, Democrat, Democratic, Trump, Rice University, U.S . House, Capitol, Reuters, Georgetown University Institute for Politics, Public Service, Senate, Republican, Republican National Committee Locations: America, Washington , U.S, Washington, United States, Delaware
Joe Biden’s Long Road to the Presidency
  + stars: | 2021-01-20 | by ( Tanner Curtis | Antonio De Luca | Thomas Kaplan | ) + 0.00   time to read: +14 min
Mr. Biden was born in 1942, the eldest son of Joseph Robinette Biden Sr. and Catherine Eugenia Finnegan Biden. Bettman, via Getty ImagesAs a senator, Mr. Biden commuted to Washington by train, a routine that allowed him to return home to his children each night. As vice president, Mr. Biden oversaw the implementation of the 2009 stimulus bill and later headed the administration’s cancer moonshot program. Mr. Biden fell flat in the first nominating contests, finishing in fourth place in Iowa and fifth place in New Hampshire. Despite his early difficulties in two overwhelmingly white states, Mr. Biden counted on receiving strong support from Black voters in later contests.
Persons: Joseph R, Biden, Richard M, Nixon, Barack Obama, Joseph Robinette Biden, Catherine Eugenia Finnegan Biden, Mr, James, Valerie, J, Caleb Boggs, Neilia, Biden’s, Beau, Brian Horton, Naomi, Jimmy Carter, George Tames, Jill Jacobs, Ashley, Jan, Jill, Lana Harris, Strom Thurmond, Edward M, Kennedy, Keith Meyers, , Al Gore, Jesse Jackson, Michael S, Dukakis, Charles Tasnadi, Jose R, Lopez, Ron Edmonds, Robert H, Bork, Clarence Thomas, Thomas, Anita Hill’s, Anita Hill, Shutterstock Mr, John Duricka, Janet Reno, Bill Clinton, Paul Hosefros, George W, Bush, Mark Wilson, Brendan Smialowski, Obama, Hillary Clinton, Keith Bedford, Doug Mills, Joshua Lott, David Lienemann, Obama’s, Hunter, Carolyn Kaster, Beau Biden, Pablo Martinez Monsivais, Beau Biden’s, Carlos Barria, Hilary Swift, Trump, Erin Schaff, Bernie Sanders of, Jordan Gale, Kamala Harris, Cory Booker, Chang W, Lee, Kamala Harris of, Harris, Anna Moneymaker, Amr Alfiky, Jon Ossoff, Raphael Warnock Organizations: Irish, Syracuse University College of Law, County Council, Getty, Associated, Station, Committee, Foreign Relations, New York Times, Mr, Democratic, The New York Times, New York, Iraq, Senate Foreign Relations, Foreign, Agence France, The New York, White, Reuters, Pfizer, BioNTech, Georgia Senate, Democrats, Senate, Joint Base Andrews Locations: United States, Pennsylvania, Scranton, Pa, Delaware, County, Washington, Wilmington, Del, Iraq, Iowa, New York, Des Moines, Ohio, Vermont, Philadelphia, New Hampshire, South Carolina, Bernie Sanders of Vermont, Kamala Harris of California, Flint, Mich, Georgia, Maryland
Avril Haines speaks during her confirmation hearing before the Senate Intelligence Committee to be President-elect Joe Biden's national intelligence director in Washington, DC, January 19, 2021. WASHINGTON — The Senate confirmed Avril Haines as the director of national intelligence Wednesday evening, making her the first official member of President Joe Biden's Cabinet. Before adjourning for the evening, the Senate voted 84 to 10 on Haines' confirmation. Haines, Biden's pick to lead the nation's 18 intelligence agencies, is the first woman to hold the position. "Our adversaries will not stand by and wait for the new administration to staff critical positions, and I am pleased my Senate colleagues joined me in swiftly confirming Director Haines to this important post," Sen. Marco Rubio, R-Fla., acting chairman of the Senate Select Committee on Intelligence, wrote in a statement.
Persons: Avril Haines, Joe Biden's, WASHINGTON —, adjourning, Haines, Biden's, Sen, Marco Rubio Organizations: Senate Intelligence Committee, WASHINGTON, Intelligence Locations: Washington , DC
A handful of President-elect Joe Biden's cabinet nominees appeared before congressional panels Tuesday, beginning the confirmation process that will allow the new administration to get to work. Biden's picks for secretary of state, Antony Blinken, and secretary of defense, Lloyd Austin, had afternoon hearings. Mayorkas, testifying before the Senate Homeland Security Committee, vowed to turn the DHS' attention toward white supremacist and extremist threats. Biden and the incoming Senate Majority Leader Chuck Schumer, D-N.Y., had urged Republicans to confirm his national security picks Wednesday, as has been done for past administrations but is something a single senator can temporarily block. Blinken, testifying before the Senate Foreign Relations Committee, made clear Trump's "America First" agenda would be a thing of the past.
Persons: Joe Biden's, — Janet Yellen, Alejandro Mayorkas, Avril Haines —, Trump, Biden's, Antony Blinken, Lloyd Austin, Yellen, Sen, Tim Scott, Mayorkas, Mitt Romney, Romney, Biden, Chuck Schumer, Josh Hawley, Hawley, Gary Peters, Michigan Democrat who's, John Kelly, Janet Napolitano, Alejandro Mayorkas ’, , Donald Trump's, Barack, Blinken, Ted Cruz, he'd, — Blinken, Austin, ” Austin, Haines, Avril Haines, Joe Raedle, Christopher Wray, Marco Rubio, John Ratcliffe Organizations: National Intelligence, Senate, Committee, Senate Homeland Security, DHS, Capitol, National Guard, NBC, Missouri Republican, Michigan Democrat, Biden Administration, Senate Foreign Relations, U.S, Embassy, Senate Armed Forces Committee, Trump, Army, Senate Intelligence, Reuters Locations: R, Utah, Pennsylvania, China, Russia, United States, Jerusalem, Austin, Washington
U.S. House expected to vote Thursday on waiver for Pentagon nominee
  + stars: | 2021-01-19 | by ( Reuters Staff | ) sentiment -0.99   time to read: 1 min
Retired General Lloyd Austin prepares to testify before the Senate Armed Services Committee during his confirmation hearing to be the next Secretary of Defense in the Dirksen Senate Office Building in Washington, U.S. January 19, 2021. Jim Lo Scalzo/Pool via REUTERSWASHINGTON (Reuters) - The U.S. House of Representatives is expected to vote on Thursday on a waiver to allow retired Army General Lloyd Austin to become secretary of defense, according to a House schedule posted on Tuesday. Austin, who retired from the military in 2016, needs a waiver because federal law requires potential defense secretaries to be out of uniform for at least seven years before taking the post.
Persons: Lloyd Austin, Jim Lo Scalzo, Austin Organizations: Senate Armed, Committee, Defense, REUTERS WASHINGTON, U.S . House Locations: Dirksen, Washington , U.S
Treasury nominee Yellen eyes quick review of U.S. sanctions policy
  + stars: | 2021-01-19 | by ( Reuters Staff | ) sentiment -1.00   time to read: 1 min
WASHINGTON (Reuters) - Janet Yellen, U.S. President-elect Joe Biden’s nominee for Treasury Secretary, on Tuesday told lawmakers she expected to quickly launch a review of U.S. sanctions policy if she and her top deputy were confirmed for their posts. Yellen told members of the Senate Finance Committee that said she would be focused on making sure that sanctions were used “strategically and appropriately.”Asked if she would repudiate unilateral protectionism, Yellen said she believed the best way to address unfair trade practices was to work with allies, and to focus directly on abuses such as theft of intellectual property and unfair subsidies.
Persons: Janet Yellen, Joe Biden’s, Yellen Organizations: WASHINGTON, Treasury, Tuesday, Senate Finance Committee Locations: U.S
Vietnamese stocks slump as trading stampede sparks outage
  + stars: | 2021-01-19 | by ( Phuong Nguyen | ) sentiment -1.00   time to read: +1 min
After a near 20 minute outage in the morning session, the trading system for the Ho Chi Minh Stock Exchange was completely halted in the afternoon, a source with direct knowledge of the matter told Reuters. “Several investors, especially newbies, were thrown into a state of panic selling,” an analyst at VNDirect Securities said. Total trading volume during the day soared to a record high of 18 trillion dong ($780 million), the exchange said. Analysts and brokers all said the stock market correction was anticipated after the VN-Index rose nearly 2.5% so far in January on the back of a 15% jump in 2020. Stocks are likely to re-test the trendlines at 1,100 points in the main market,” the VNDirect Securities analyst said.
Persons: Phuong Nguyen, Khanh Vu, Shriya Ramakrishnan, Tom Westbrook, Alexander Smith Organizations: Vietnam’s, Minh Stock Exchange, Reuters, VNDirect Securities, VN, Vietcombank Securities, Central Committee of, Communist Party Locations: HANOI, Hanoi
Futures rise ahead of Yellen speech; spotlight on earnings
  + stars: | 2021-01-19 | by ( Devik Jain | Medha Singh | ) + 0.00   time to read: +2 min
FILE PHOTO: Trader Frank Masiello talks on his phone on Wall St. outside the New York Stock Exchange (NYSE) in New York, U.S., January 15, 2021. REUTERS/Brendan McDermidBank of America gained 0.5% in pre-market trading even after it reported a drop in fourth-quarter profit. JPMorgan, Citigroup Inc and Wells Fargo & Co posted better-than-expected earnings on Friday, but their shares dropped following a surge in the run-up to their earnings. ET, Dow E-minis were up 200 points, or 0.65%, S&P 500 E-minis were up 29.25 points, or 0.78%. Tesla Inc gained 1.8% after Jefferies raised its earnings estimates ahead of the electric-car makers’ fourth-quarter results next week.
Persons: Janet Yellen, Frank Masiello, Brendan McDermid, Goldman Sachs, Morgan Stanley, UnitedHealth, Jefferies Organizations: Reuters, Treasury, New York Stock Exchange, REUTERS, Brendan, Brendan McDermid Bank of America, JPMorgan, Citigroup Inc, Wells Fargo, Co, Dow, Netflix Inc, IBM Corp, Intel Corp, Schlumberger, Finance Committee, Dow E, Nasdaq, Boeing Co, Tesla Locations: St, New York, U.S, Canada, Europe
Indian shares rise over 1% on boost from Reliance, HDFC
  + stars: | 2021-01-19 | by ( Sethuraman N R | ) + 0.79   time to read: +2 min
REUTERS/Shailesh Andrade/FilesBENGALURU (Reuters) - Indian shares rose more than 1% on Tuesday as heavyweights Reliance and Housing Development Finance Corp provided a boost, with investors eyeing upbeat global cues ahead of a new presidency under U.S. President-elect Joe Biden. The Nifty and the Sensex had hit record highs last week before sliding in the past two sessions. Among individual shares and sectors, Reliance Industries, which has lost about 9% since October, rose 2%, while Housing Development Finance Corp gained 1.7%, making them the top boosts to the Nifty 50 index. “Further ‘big stimulus’ (in the U.S.) along with the huge liquidity created by the unprecedented monetary stimulus can keep markets buoyant. Shares of Mindtree Ltd rose 2% after the information technology services provider reported strong December-quarter results.
Persons: Shailesh Andrade, Joe Biden, , Rusmik Oza, Janet Yellen, , Vijayakumar Organizations: REUTERS, Reliance, Housing Development Finance Corp, U.S, BSE, Kotak Securities, Treasury Department, Finance Committee, Reliance Industries, Geojit Financial, Mindtree, Maruti Suzuki India Ltd Locations: Mumbai, BENGALURU, U.S
Shares climb ahead of Yellen speech, earnings in focus
  + stars: | 2021-01-19 | by ( Danilo Masoni | Wayne Cole | ) + 0.00   time to read: +4 min
The MSCI world equity index, which tracks shares in 49 countries, was up 0.3% by 0907 GMT. Asian shares had climbed on investor expectation that China’s economic strength would help TO underpin growth in the region. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.5% to a record high. The dollar index was last at 90.63, down 0.15% on the day but comfortably above its recent trough of 89.206. [GOL/]Crude oil prices firmed on optimism that government stimulus will buoy global economic growth and oil demand.
Persons: Janet Yellen’s, Issei Kato, ” Paul Donovan, , Morgan Stanley, Goldman Sachs, Joe Biden’s, Biden, Giuseppe Conte Organizations: MILAN, Global, REUTERS, Rio Tinto, Logitech, Nasdaq, UBS Global Wealth Management, Finance Committee, Reuters, JPMorgan, Netflix, U.S, Brent Locations: SYDNEY, Tokyo, Japan, Europe, Rio, Asia, Pacific, United States, BofA
Shares climb, dollar dips before Yellen speech; earnings in focus
  + stars: | 2021-01-19 | by ( Danilo Masoni | ) + 0.00   time to read: +4 min
REUTERS/StaffConcern that pandemic lockdowns could slow the road to economic recovery faded as markets prepared for possible positive surprises from the earnings season. The MSCI world equity index, which tracks shares in 49 countries, was up 0.4% by 1231 GMT. Asian shares had climbed on investor expectation that China’s economic strength would help to underpin growth in the region. Bank of America shares rose in pre-market trade after results while investors were awaiting for results from Goldman Sachs and Netflix later on Tuesday. The dollar index fell 0.3% to 90.48 but remained comfortably above its recent trough of 89.206.
Persons: Janet Yellen’s, Joe, ” Paul Donovan, , Goldman Sachs, Morgan Stanley, Biden’s, Biden, Giuseppe Conte Organizations: MILAN, Global, REUTERS, Staff, Logitech, Nasdaq, UBS Global Wealth Management, Finance Committee, Reuters, JPMorgan, Bank of America, Netflix, IBM, Intel, U.S, European Central Bank, Brent Locations: Frankfurt, Germany, Europe, lockdowns, Asia, Pacific, Japan, United States
Slideshow ( 3 images )The move would aim to mend the economic damage inflicted by the coronavirus pandemic on the world’s largest economy. Risk assets such as oil and emerging market stocks also rallied. MSCI’s gauge of stocks across the globe rose 0.67% following broad gains in Asia and Europe. Optimism that government stimulus will buoy global economic growth and oil demand lifted crude oil prices. U.S. crude rose 1.07% to $52.92 per barrel and Brent was at $55.90, up 2.1% on the day.
Persons: Janet Yellen, Yellen, , Peter Cardillo, Joe Biden’s, Biden, Brent Organizations: YORK, U.S, Treasury, Senate Finance Committee, Spartan Capital Securities, Wall, Dow Jones, Nasdaq Locations: New York, Asia, Europe, Pacific, Japan, China
Equities, oil rally in anticipation of more US stimulus spending
  + stars: | 2021-01-19 | by ( David Randall | ) + 0.00   time to read: +3 min
China Daily via REUTERSThe move would aim to mend the economic damage inflicted by the coronavirus pandemic on the world’s largest economy. Risk assets such as oil and emerging market stocks also rallied. Despite the risk-on mood on Tuesday, some dealers were wary before President-elect Joe Biden’s inauguration on Wednesday, fearing more far-right mob violence. Optimism that government stimulus will buoy global economic growth and oil demand lifted crude oil prices. U.S. crude rose 0.8% to $52.78 per barrel and Brent was at $55.76, up 1.84% on the day.
Persons: Janet Yellen, Yellen, , , Peter Cardillo, Joe Biden’s, Biden, Brent Organizations: YORK, U.S, Treasury, REUTERS, Finance Committee, Reuters, Spartan Capital Securities, Wall, Dow Jones, Nasdaq Locations: China, Hangzhou, Zhejiang province, New York, Asia, Europe, Pacific, Japan
ET What to Watch in Janet Yellen’s Confirmation Hearing: Live Business UpdatesWhat to watch at Janet Yellen’s confirmation hearing for Treasury secretary. Ms. Yellen is one of a handful of nominees of President-elect Joseph R. Biden Jr. that will go before senators the day before Mr. Biden’s inauguration. The confirmation process for Ms. Yellen, a seasoned economist and central banker who served as chair of the Federal Reserve from 2014 to 2018, is expected to be a relatively smooth one. And Senator Charles E. Grassley of Iowa, currently Republican chairman of the Finance Committee, has spoken positively of Ms. Yellen since Mr. Biden picked her for the job. But they were not hidden in a draft version of the complaint reviewed by The New York Times, report Daisuke Wakabayashi and Tiffany Hsu.
Persons: Janet Yellen’s, Ms, Yellen, Kriston Jae Bethel, The New York Times Janet Yellen, Joseph R, Biden, Biden’s, , Ron Wyden, Charles E, Grassley, Steven Mnuchin, Babe Ruth, Babe Ruth Home, Sultan, Andrew Lipsman, “ It’s, Mr, Lipsman, millennials, Ruth, Ty Cobb, Erin Schaff, Smialek, Paige Vickers, general’s, Daisuke Wakabayashi, Tiffany Hsu, “ Unbeknown Organizations: Federal Reserve, The New York Times, Treasury, Senate, Oregon, Finance, Finance Committee, Biden, Costco, “ Sports, Street Journal, Baseball, America, Fed, Facebook, Google, Times Locations: United States, Iowa, China, Iran, Swat, Washington, York, Japan, Europe, Texas, Facebook’s
Treasury yields rise ahead of Yellen's Senate confirmation hearing
  + stars: | 2021-01-19 | by ( Vicky Mckeever | ) sentiment -1.00   time to read: +1 min
ET, while the yield on the 30-year Treasury bond moved up to 1.857%. U.S. Treasury yields climbed on Tuesday morning, as traders watched for comments from Treasury Secretary nominee Janet Yellen, who is expected to speak in front of the Senate Finance Committee later in the day. Treasury yields advanced on Tuesday — the first day of trading this week — after markets were closed on Monday for Martin Luther King Jr. Day. ET, former Federal Reserve Chair Yellen — President-elect Joe Biden's pick for Treasury Secretary — is expected to tell the Senate Finance Committee that the country is headed for a major recession unless they "act big." Auctions will be held Tuesday for $54 billion of 13-week bills, $51 billion of 26-week bills, $30 billion of 119-day bills and $30 billion of 42-day bills.
Persons: Janet Yellen, Martin Luther King Jr, Joe Biden's, , Biden Organizations: Treasury, Senate Finance, Finance Committee, NBC News
Sydney (CNN) The quarantine controversy over tennis' Australian Open has raised questions about whether large-scale international sporting events can take place in the middle of a pandemic and could offer a preview of the difficulties facing this summer's Tokyo Olympics. Players arriving in the Australian state of Victoria have been placed into a 14-day quarantine ahead of their grand slam matches. In response, Victoria State Premier Daniel Andrews said: "People area free to provide lists of demands, but the answer is no." The Victoria state capital Melbourne, the second-most populous city in Australia, was under a hard lockdown for 111 days last year. CNN has reached out to the Tokyo 2020 Organizing Committee for comment on its quarantine requirements for athletes.
Persons: Novak Djokovic, Victoria State Premier Daniel Andrews, Vasek Pospisil, Serbia's Novak Djokovic, Sarah Fuller, Fuller, Trevor, Yoshiro Mori, Dick Pound Organizations: Sydney, CNN, Players, Victoria State Premier, Victoria, Australian, Tokyo, Paralympic Games, NHK, Olympic Committee, International Olympic Locations: Tokyo, Australian, Victoria, Melbourne, Australia, Adelaide, Greater Brisbane, United Kingdom, Japan, Osaka, Kyoto, Hyogo, Aichi, Gifu, Tochigi, Fukuoka, Japan's, Honshu
Former FBI Director James Comey eviscerated President Donald Trump, his supporters, and the Republican Party in an interview with The Guardian. Comey also criticized Trump's personal character, saying his lies make him "uniquely able to bend people." Former FBI Director James Comey said that the Republican Party needs to be "burned down or changed," and called the pro-Trump Capitol riot "our own Chernobyl" in a searing interview with The Guardian published Tuesday. In the interview, Comey called for a different conservative party, saying the GOP as it exists is "built on lies and racism and know-nothingism." "What Donald Trump has done for the last five years is attack the building from the outside to weaken its foundation," Comey told The Guardian.
Persons: James Comey, Donald Trump, Comey, It's, He's, Joe Biden, Erin Schaff, Trump's Organizations: FBI, Republican Party, Guardian, Trump, Capitol, ABC, Republican National Committee, Justice Department, Trump White House, White House Locations: Soviet Ukraine, Russia
Meet Joe Biden: America's imperfect leader
  + stars: | 2021-01-19 | by ( Marguerite Ward | May Teng | ) + 0.00   time to read: +33 min
Over the course of his career in the Senate, Biden consistently voted for minimum-wage increases. Becoming a man known for compromiseIn the Senate, Biden developed a reputation for connecting with a variety of politicians, regardless of their political party. AP Photo/Zach Gibson"Here's the one thing about Joe Biden: Joe Biden is a person who understands the word 'compromise.' Both as a senator and as Obama's vice president, Biden was known to talk and talk with people, pushing back his schedule with every conversation. By sharing his story of grief, Biden has the potential to change the discourse on mourning, sociologists said.
Persons: Joe Biden, David Kessler, Kessler, David, It's Joe, he's, Biden, Beau, Biden's, Neilia Hunter, Naomi, , churchgoers, that's, Harry Reid, David Lienemann, Angela Duckworth, Evan Osnos, couldn't, Kena Betancur, Lienemann, Obama, candids, Osnos, Joe Impedimenta, Yeats, Emerson, He's, J, Caleb Boggs, Hunter, Sen, Russell Long, Louisiana —, Long, Neilia, Bettmann, Robert Kennedy, you'd, He'd, Walter Reed, Rosabeth Kanter, Kanter, Orrin Hatch, he'd, Mitch McConnell, Reid, McConnell, Zach Gibson, Joe, Clarence Thomas, Anita Hill, Thomas, Greg Gibson, Hill, Kamala Harris, Harris, Brene Brown, Kamala, Brown, Moe Vela, Olivier Douliery, Vela, Carrie Bettinger, Lopez, White, Barry Pavel, Pavel, Louisiana Sen, Bennett Johnston Jr, Charlie Cook, Cook, Lucy Flores, Flores, Tara Reade, Reade, That's, Anthony of Padua, Kessler wasn't, Drew Angerer, you'll, Colbert, it's, Coldplay's Chris Martin, Beau's, Susan Walsh, Deborah Carr, There's, Robin Bravender Organizations: Emanuel AME, Capitol, White, Wednesday, Catholic, Archmere Academy, Getty, House, Biden, University of Delaware, Syracuse University's College of Law, Ivy League, Rhodes, Democratic, Social Security, Senate, University of Pennsylvania, CNN, Republican, Amtrak, British Labour Party, Newsweek, Harvard Business School, Committee, Foreign Relations, Department of Justice, Supreme, The New York Times, Brandeis University, Cabinet, Louisiana, of Electrical Workers, DC, Anthony of Padua Roman Catholic Church, Biden's, AP, Boston University Locations: Los Angeles, Delaware, Charleston , South Carolina, Emanuel, Scranton , Pennsylvania, Wilmington, AFP, County, Washington, American, DC, Louisiana, Rochester , New York, Iraq, America, McLean , Virginia, Nevada, Minneapolis, Scottish, United States
Total: 25