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Federal student loan payments suspended until end of January
  + stars: | 2020-12-05 | by ( Brendan O Brien | ) www.reuters.com sentiment -0.94   time to read: +1 min
REUTERS/Kevin Lamarque(Reuters) - U.S. Secretary of Education Betsy DeVos on Friday said the suspension of federal student loans payments and accruing interest set to end on Dec. 31 will be extended another month as the pandemic presents financial challenges to borrowers. “This temporary pause in payments will help those who have been impacted,” DeVos said in a statement. “The added time also allows Congress to do its job and determine what measures it believes are necessary and appropriate.”In March, the Trump administration suspended interest and payments on federal student loans for 60 days. In August, the moratorium was extended until Dec. 31 and on Friday it was extended until Jan. 31. DeVos has also instructed employers to halt wage garnishment for borrowers with defaulted federal student loans.
Persons: Betsy Devos, Donald Trump, Kevin Lamarque, Betsy DeVos, ” DeVos, Trump, DeVos Organizations: . Education, U.S, White, REUTERS, U.S . Congress Locations: Washington , U.S
(Reuters) - President-elect Joe Biden said Friday’s “grim” jobs report shows the economic recovery is stalling and warned the “dark winter” ahead would exacerbate the pain unless the U.S. Congress passes a coronavirus relief bill immediately. U.S. President-elect Joe Biden gestures to reporters as he departs after announcing members of his economic policy team at his transition headquarters in Wilmington, Delaware, U.S., December 1, 2020. Earlier this week, he unveiled his economic team, led by his nominee for Treasury secretary, former Federal Reserve Chair Janet Yellen. Transition spokeswoman Jen Psaki told reporters on Friday that Biden would announce more positions early next week, including members of his public health team. Trump, a Republican who has still refused to concede to Biden, is scheduled to headline a rally with Perdue and Loeffler on Saturday.
Persons: Joe Biden, Friday’s, Leah Millis, ” Biden, Biden, Donald Trump’s, Jeff Zients, Obama, , Janet Yellen, , Governor Michelle Lujan Grisham, Lujan Grisham, Yellen, Neera Tanden, Cecilia Rouse, Jen Psaki, Mike Pence, David Perdue, Kelly Loeffler, Perdue, Loeffler Organizations: U.S, Congress, REUTERS, Democratic, National Association for, Advancement of Colored People, Black voters, The League, United Latin American, America, Congressional Hispanic Caucus, Human Services, Management, of Economic Advisers, Centers for Disease Control, Republican U.S, U.S . Senate, Trump, Republican Locations: WILMINGTON, Del, U.S, Wilmington , Delaware, , Mexican, Georgia, Atlanta
And they need more to come early next year,” said Biden, who takes office on Jan. 20. A government report on Friday showed the labor market slowing in November as the COVID-19 pandemic eclipsed its levels of the spring. Congress is going to need to act again in January,” Biden told reporters in his hometown of Wilmington, Delaware. PRESSURE FOR DIVERSITYBiden, who earlier this week unveiled his economic team, faces intensifying pressure from congressional allies and advocacy groups to make ethnically diverse picks for the remaining slots in his administration. Transition spokeswoman Jen Psaki told reporters on Friday that Biden would announce more positions early next week, including members of his public health team.
Persons: Joe Biden, Friday’s, , Biden, Donald Trump, ” Biden, , Mitch McConnell, Jeff Zients, Obama, Leah Millis, Governor Michelle Lujan Grisham, Lujan Grisham, Janet Yellen, Neera Tanden, Cecilia Rouse, Jen Psaki, Mike Pence, David Perdue, Kelly Loeffler, Trump, Perdue, Loeffler Organizations: U.S, Congress, Democratic, Republican, COVID, REUTERS, Biden, National Association for, Advancement of Colored People, Black voters, The League, United Latin American, Congressional Hispanic Caucus, Human Services, Management, of Economic Advisers, U.S . Senate, Centers for Disease Control, Prevention Locations: WILMINGTON, Del, COVID, Wilmington , Delaware, U.S, Mexican, United States, Georgia, Atlanta
The pandemic has pushed millions of Americans to the cliff’s edge, with the ground crumbling at year’s end without further stimulus action by Congress. When federal emergency coronavirus relief protections expire, some as soon as the day after Christmas, 13 million Americans will lose their jobless benefits. “It’s another fiscal cliff when families have already gone over a fiscal cliff,” Diane Swonk, chief economist at Grant Thornton, told NBC News. House Speaker Nancy Pelosi, D-Calif., said Friday that there is "momentum" on Capitol Hill to reach a deal on coronavirus relief, further optimism that legislation could be approved before the end of the year. Laid off in March, her unemployment benefits — which expire on Dec. 26 — barely cover her rent.
Persons: Joe Biden, Mitch McConnell, It’s, Diane Swonk, Grant Thornton, Covid, ” Swonk, , Nancy Pelosi, Pelosi, can’t, Rachel Alvarez, ” Alvarez, Alvarez, hasn’t, I’m, Kelly Ann Hotchkin, “ We've, ” Hotchkin, Vanessa Brito, ” Brito, “ They’re Organizations: Congress, NBC News, Institute, Centers for Disease Control Locations: America, Ky, Austin, Chicago, Charlotte, Naples , Florida, coronavirus, Hamilton , New Jersey, Miami
And if I wasn’t familiar with the law that controls the counting of electoral votes, I, too, might be concerned. Biden is projected to win 306 electoral votes, well over the 270 required to become the next president. Then, pursuant to federal law, a joint session of Congress will be held Jan. 6 to count and accept these electoral votes. Since the Democrats control the House, Brooks’ pipe dream comes to an end. While GOP Senate leaders currently have signaled little to no enthusiasm for Brooks' plan, if Trump starts lobbying them, that could change.
Persons: Mo Brooks, Joe Biden, Brooks, ” Brooks, he’s, Biden, “ Donald Trump, Trump, — Donald J, George W, Bush, John Kerry, Sen, Barbara Boxer, Tom DeLay, , ” Ahhh, Organizations: Electoral College, Electoral, House Democrats, Senate, U.S, GOP, Trump, Congress, Congressional Research Service, Democratic, Republican, GOP Senate, Resolute Locations: Alabama, Ohio, Texas
Biden says jobs report 'grim,' relief package needed now and in January
  + stars: | 2020-12-04 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
REUTERS/Brendan McDermidWASHINGTON (Reuters) - U.S. President-elect Joe Biden said in a statement on Friday the November U.S. jobs report underlined the need for urgent action on coronavirus relief but that any package passed by Congress now would not suffice and that more would be needed in January. “This is a grim jobs report. It shows an economy that is stalling,” he said, adding he was “encouraged” by bipartisan Senate efforts on a $900 billion relief package. But any package passed in the lame duck session is not enough. ... Congress will need to act again in January.”
Persons: Joe Biden, Brendan McDermid WASHINGTON, , , Trump Organizations: Democratic U.S, Food, Commercial Workers, REUTERS, Congress Locations: UFCW, Grand Rapids , Michigan, U.S,
Lawmakers enacted $3 trillion in aid earlier this year but have not been able to agree on fresh relief since the spring. “The situation requires urgent action,” President-elect Joe Biden in a statement that called on the Trump administration and Congress to reach agreement on coronavirus relief. But it is unclear whether McConnell would agree to such a large package after pushing to keep COVID-19 relief spending near the $500 billion mark. White House economic adviser Larry Kudlow, speaking to reporters at the White House on Friday, declined to comment on whether the $908 billion bipartisan proposal was too expansive. He said Trump wanted to see a “targeted” coronavirus relief bill.
Persons: Nancy Pelosi, Tom Brenner, , Tom Reed, Joe Biden, Trump, It’s, ” Biden, , Pelosi, Mitch McConnell, ” Pelosi, Reed, McConnell, Donald Trump, Larry Kudlow Organizations: WASHINGTON, U.S, Congress, REUTERS, House, Republican, Democratic, ” U.S, Health, U.S . Chamber, Commerce, COVID, Senate, Republicans, Kentucky Republican, White Locations: Washington , U.S, , U.S, Kentucky
Slideshow ( 2 images )The opposition, led by National Assembly speaker Juan Guaido, is boycotting the vote on the grounds that it will be rigged in favor of President Nicolas Maduro’s allies. Court rulings have left the body largely toothless since the opposition won control in a December 2015 election. “That’s why we say we’re not going to vote, we’re not going to do anything,” Muller said in an interview. The United States and European Union will likely continue recognizing opposition control of the parliament given the perceived problems with the Dec. 6 vote, two opposition sources said. Among the alleged irregularities denounced by the opposition were decisions by the Maduro-aligned Supreme Court to remove Guaido allies from leadership positions in opposition parties and install shadow allies willing to compete in the election.
Persons: Juan Guaido, Nicolas Maduro’s, Datanalisis, , Keili Muller, , we’re, ” Muller, Guaido, Maduro Organizations: European, National Assembly Locations: CARACAS, Venezuela, United States, European Union, Marapa, La Guaira, Cuba, Nicaragua
Take Five: The clocks are ticking down
  + stars: | 2020-12-04 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +5 min
(Reuters) -FILE PHOTO: A small toy figure is seen in front of a Brexit logo in this illustration picture, March 30, 2019. It also plans new legislation, potentially with more provisions overruling parts of an earlier EU withdrawal agreement. - )3/SHUTDOWNThe clock is ticking on the Dec. 11 deadline for the U.S. Congress to approve an omnibus spending bill to prevent a government shutdown. The easing cycle may be running out of steam in Peru, where central bank officials meet on Thursday. -Brazil’s Campos Neto says COVID-19 vaccine would be ‘game changer’ for economic policy - Reuters(Graphic: EM central banks pause rate cutting cycle - )
Persons: Dado Ruvic, COVID, Joe Biden’s, Donald Trump, Biden, Roberto Campos Neto, Brazil’s Campos Neto Organizations: Reuters, REUTERS, EU, ECB, U.S, Congress, Democrats, Republicans, U.S ., Trump, Traders Locations: Britain, Poland, Hungary, U.S, China, Peru
Futures near record highs as stimulus hopes build
  + stars: | 2020-12-04 | by ( Shriya Ramakrishnan | ) www.reuters.com sentiment -1.00   time to read: +2 min
(Reuters) - U.S. stock index futures held near all-time highs on Friday as growing prospects for further economic stimulus and continued optimism over a COVID-19 vaccine-driven economic recovery lifted sentiment. FILE PHOTO: The Fearless Girl statue is seen as the U.S. flag covers the front facade of the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 9, 2020. Growing confidence that a working COVID-19 vaccine would be administered before the end of the year has revived demand for the hardest-hit airlines and tourism stocks. ET, Dow E-minis were up 120 points, or 0.4%, and S&P 500 E-minis were up 11.25 points, or 0.31%. Drugmaker Pfizer fell 0.8%, extending declines from the previous session when it flagged challenges in supply chain for raw materials used in its COVID-19 vaccine.
Persons: Brendan McDermid, Drugmaker Organizations: Reuters, New York Stock Exchange, REUTERS, U.S, Congress, Republicans, Democrats, Labor, American Airlines, Cruise, Carnival Corp, Dow E, Nasdaq, Drugmaker Pfizer, Oil, Exxon Mobil Corp, Chevron Corp Locations: U.S, New York City , New York
REUTERS/Brendan McDermid/File PhotoSo-called “cyclical” stocks seen as particularly sensitive to the economy, such as energy and industrials, lead the gains as most S&P 500 sectors rose. The benchmark 10-year yield hit its highest level since March at over 0.98%, helping support financial shares which are highly sensitive to interest rates. Energy shares were also bolstered by gains in oil prices, with shares of Diamondback Energy Inc up 11.6% and Occidental Petroleum up 10.7%. Advancing issues outnumbered declining ones on the NYSE by a 3.18-to-1 ratio; on Nasdaq, a 2.55-to-1 ratio favored advancers. The S&P 500 posted 47 new 52-week highs and no new lows; the Nasdaq Composite recorded 199 new highs and 6 new lows.
Persons: Brendan McDermid, , it’s, , David Joy, nonfarm, Joe Biden, Ryan Detrick Organizations: Reuters, New York Stock Exchange, REUTERS, Financial, Labor, . U.S, Congress, Dow Jones, Nasdaq, Energy, Diamondback Energy Inc, Occidental Petroleum, Utilities, Boeing, NYSE Locations: U.S, New York City , New York, Boston, ., North Carolina
SHANGHAI (Reuters) - China’s securities regulator said on Friday that U.S. legislation targeting U.S.-listed Chinese companies is “clearly discriminatory”. The U.S. Congress has passed legislation that would force Chinese firms to delist from U.S. exchanges unless they abide by U.S. accounting rules. The China Securities Regulatory Commission (CSRC) said in a statement that China remains open to addressing the U.S. concerns via dialogues and cooperation.
Organizations: U.S, Congress, China Securities Regulatory Commission Locations: SHANGHAI, China
As the cannabis industry continues to take root state by state, Congress will consider whether to remove marijuana from the federal Controlled Substances Act once and for all. The House will vote Friday on the Marijuana Opportunity Reinvestment and Expungement Act, or MORE Act, which would decriminalize cannabis and clear the way to erase nonviolent federal marijuana convictions. Friday's vote would mark the first time a full chamber of Congress has taken up the issue of federally decriminalizing cannabis. Majority Leader Mitch McConnell, R-Ky., has slammed Democratic efforts to include diversity studies as part of cannabis reform, saying this year that lawmakers should instead focus on providing relief from the coronavirus pandemic. Still, McConnell, who supports the hemp industry, met with cannabis industry insiders last year in California, signaling to some experts that perhaps cannabis reform is much closer to becoming reality.
Persons: Earl Blumenauer, Blumenauer, Richard Nixon's, Nixon, Blumenaer, Barbara Lee, Lee, Debbie Lesko, Lesko, James Cole, Cole, Justin Strekal, Mitch McConnell, McConnell, Wallin Organizations: Substances, Marijuana, Reinvestment, Veteran Affairs, Rep, Congressional Cannabis Caucus, NBC, Centers for Disease Control, Cannabis, D.C, Narcotic Drugs, MORE, National Organization, Democratic, Senate, Wellness Locations: Congress, Portland, — Arizona , New Jersey, South Dakota , Montana, Mississippi, Washington, America, Brown, United States, California, Colorado, Ky
If the bill is approved by Trump before the Jan. 15 deadline to withdraw troops, it also would appear to freeze his plan to slash troop levels in Afghanistan to 2,500 from 4,500. Committee aides said they expected the House would pass the bill early next week, sending it to the Senate. After that, it would go to the White House, for Trump to sign or veto. Members of Congress said it has nothing to do with the military and should not be used to stop an important defense bill. The bill imposes mandatory sanctions on Turkey for its acquisition of the Russian S-400 air missile defense system.
Persons: Donald Trump’s, Trump, NDAA, Lockheed Martin Organizations: WASHINGTON, Republicans, Democrats, Department of Defense, Trump, Senate, White, Republican, Democratic, Facebook, Twitter, Reuters, Pentagon, Lockheed, Ligado Networks Locations: Germany, China, Russia, U.S, Berlin, Afghanistan, Turkey, Russian
Energy stocks drive gains in European shares
  + stars: | 2020-12-04 | by ( Susan Mathew | ) www.reuters.com sentiment -0.98   time to read: +2 min
(Reuters) - Oil stocks lifted European shares on Friday, with London’s blue-chip index hitting nine-month highs, while signs of progress in fiscal stimulus in the United States also aided sentiment. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 26, 2020. REUTERS/StaffLondon FTSE 100 rose 0.8% as crude prices gained after a compromise between OPEC+ members to continue some production cuts. “As long as a basic deal is struck that avoids a no-deal scenario, that would help sentiment,” Madden said. Shares of UK homebuilder Berkeley lost 2.8% after it reported a 16.6% fall in first-half profit as home sales were dented by the pandemic.
Persons: , David Madden, ” Madden, DAX, BioNtech Organizations: Reuters, REUTERS, Staff London, Nasdaq, U.S . Congress, CMC, European Union, Pfizer, homebuilder Berkeley Locations: United States, Frankfurt, Germany, London, Europe’s
U.S. expected to report slowest job growth in six months
  + stars: | 2020-12-04 | by ( Lucia Mutikani | ) www.reuters.com + 0.00   time to read: +6 min
REUTERS/Bryan WoolstonThe Labor Department’s closely watched employment report on Friday will only cover the first two weeks of November, when the current wave of coronavirus infections started. “The November employment report may be the last ‘strong’ employment report for a while until a vaccine is widely available,” said Sam Bullard, a senior economist at Wells Fargo Securities in Charlotte, North Carolina. That would be the smallest gain since the jobs recovery started in May and a fifth straight monthly deceleration in job gains, leaving employment 9.621 million jobs below its February peak. The number of people out of work for more than six months surged by 1.2 million in October. Slower job and wage growth would lead to weakness in a proxy for take-home pay.
Persons: Bryan Woolston, , Sam Bullard, ” Nonfarm, hospitalizations, Sung Won Sohn, Payrolls, , Dean Baker, Kathy Bostjancic Organizations: WASHINGTON, Kentucky, Center, REUTERS, Labor, Wells, Wells Fargo Securities, Republicans, Congress, Loyola Marymount University, Retailers, Institute for Supply Management, Industries, Center for Economic, Research, Oxford Economics Locations: Frankfort , Kentucky, U.S, Wells Fargo, Charlotte , North Carolina, United States, Los Angeles, Washington, New York
Anti-Money-Laundering Measure Poised to Clear Congress
  + stars: | 2020-12-04 | by ( Ian Talley | Andrew Ackerman | ) www.wsj.com sentiment -0.87   time to read: +1 min
WASHINGTON—Congress is set to approve legislation requiring companies in the U.S. to register their true owners, plugging what many illicit-finance experts say is one of the biggest holes in U.S. anti-money-laundering rules. The measures are expected to be voted on as soon as next week as part of an annual defense-policy bill. But the Chamber has dropped its opposition and now supports the measure as lawmakers addressed the group’s privacy concerns. Under existing law, companies aren’t under any federal obligation to report the true owners who benefit from its operations. Agents can register on behalf of owners in many U.S. states, or other companies owned by the true owners can be cited as the owners, allowing the true owners to create a string of shell companies that obscure their identities.
Organizations: WASHINGTON, U.S . Chamber of Commerce, American Bar Association, Treasury Department Locations: WASHINGTON —, U.S
Oil prices jump after OPEC+ inks supply compromise
  + stars: | 2020-12-04 | by ( Reuters Staff | ) www.reuters.com sentiment -0.98   time to read: +1 min
FILE PHOTO: A TORC Oil & Gas pump jack is seen near Granum, Alberta, Canada May 6, 2020. OPEC and Russia on Thursday agreed to ease deep oil output cuts from January by 500,000 barrels per day, but failed to come to a compromise on a broader policy for the rest of next year. “OPEC+ clearing the hurdle of exiting its current cuts in a coordinated way ... reinforces our conviction in a steady and sustainable rally in oil prices through 2021,” Goldman Sachs said in a report after the decision. OPEC+ was expected to continue existing cuts until at least March, after backing down from plans to raise output by 2 million bpd. Also supporting prices, a bipartisan $908 billion coronavirus aid plan gained momentum in the U.S. Congress.
Persons: Todd Korol TOKYO, Brent, ” Goldman Sachs Organizations: Gas, REUTERS, . West Texas Intermediate, of, Petroleum, U.S . Congress Locations: Granum , Alberta, Canada, Russia, OPEC
Oil moves up towards $50/barrel after OPEC+ supply compromise
  + stars: | 2020-12-04 | by ( Shadia Nasralla | ) www.reuters.com sentiment -0.99   time to read: +1 min
LONDON (Reuters) - Brent crude oil futures rose to just under $50 a barrel on Friday as major producers agreed on a compromise to increase output slightly from January but continue the bulk of existing supply curbs to cope with coronavirus-hit demand. Brent was up 27 cents at $48.98 a barrel by 1434 GMT after hitting its highest since early March at $49.92. OPEC and Russia on Thursday agreed to ease deep oil output cuts from January by 500,000 barrels per day with further as yet undefined increases on a monthly basis, failing to reach a compromise on a broader policy for the rest of 2021. OPEC+ had been expected to continue existing cuts until at least March, after backing down from plans to raise output by 2 million bpd. While some analysts saw an undersupplied oil market even under the new higher supply quotas, others expected the barrels would tip the market into oversupply.
Persons: Brent, Wood Mackenzie Organizations: Brent, West Texas Intermediate, of, Petroleum, U.S, Congress Locations: Russia, OPEC, oversupply
Oil moves up towards $50/bbl after OPEC+ supply compromise
  + stars: | 2020-12-04 | by ( Shadia Nasralla | ) www.reuters.com sentiment -1.00   time to read: +2 min
LONDON (Reuters) - Brent crude oil futures rose to just under $50 a barrel on Friday as major producers agreed on a compromise to increase output slightly from January but continue the bulk of existing supply curbs to cope with coronavirus-hit demand. FILE PHOTO: A ship is moored near storage tanks at an oil refinery off the coast of Singapore October 17, 2008. OPEC and Russia on Thursday agreed to ease deep oil output cuts from January by 500,000 barrels per day with further as yet undefined increases on a monthly basis, failing to reach a compromise on a broader policy for the rest of 2021. OPEC+ had been expected to continue existing cuts until at least March, after backing down from plans to raise output by 2 million bpd. “Oil demand is likely to rebound strongly in 2021 along with the roll-out of vaccines.
Persons: Vivek Prakash, Brent, SEB, Bjarne Schieldrop, , RBC’s Helima Croft Organizations: Brent, REUTERS, West Texas Intermediate, of, Petroleum, U.S, Congress Locations: Singapore, SINGAPORE, Russia, OPEC
U.S. Democrats elect Meeks as first Black House foreign affairs chairman
  + stars: | 2020-12-04 | by ( Patricia Zengerle | ) www.reuters.com sentiment -0.98   time to read: +2 min
FILE PHOTO: U.S. Representative Gregory Meeks (D-NY) speaks to the media on Capitol Hill in Washington, September 5, 2013. REUTERS/Larry Downing/File PhotoWASHINGTON (Reuters) - U.S. House of Representatives Democrats elected Greg Meeks on Thursday as the next chairman of the House Foreign Affairs Committee, a position in which he is expected to work closely with President-elect Joe Biden’s administration on the Iran nuclear deal and other issues. Engel voted for the 2003 Iraq War and opposed President Barack Obama’s 2015 nuclear deal with Iran. The caucus vote was 148-78 for Meeks over Representative Joaquin Castro, who had campaigned for the post as a more progressive alternative to Meeks. Castro, currently vice chairman of the foreign affairs panel, said he looked forward to working with Meeks on common goals such as promoting diversity at the State Department and rejoining the Iran nuclear deal.
Persons: Gregory Meeks, Larry Downing, Greg Meeks, Joe Biden’s, Meeks, , ” Meeks, New York Representative Eliot Engel, Engel, Barack Obama’s, Joaquin Castro, Castro, Donald Trump, Biden Organizations: Capitol, REUTERS, WASHINGTON, . House, House Foreign Affairs Committee, World Health Organization, Congress, New York Representative, Democratic, Israel, Democratic Party’s, State Department, Republican Locations: Washington, Iran, Iraq, United States, Tehran
Gold on track for weekly gain as U.S. stimulus hopes dent dollar
  + stars: | 2020-12-04 | by ( ) www.cnbc.com sentiment -0.99   time to read: +2 min
Gold prices firmed on Friday, set for their first weekly gain in four, as growing optimism over a U.S. fiscal stimulus deal pressured the dollar and boosted the metal's appeal as an inflation hedge. Spot gold rose 0.2 % to $1,843.99 per ounce by 0310 GMT. The U.S. dollar eased on Friday and was set for its worst week since early November, making gold cheaper for other currency holders. Also supporting gold was news that drugmaker Pfizer slashed its target for the rollout of its Covid-19 vaccine on supply disruptions. Silver rose 0.1% to $24.09 per ounce and was set to climb 6% in the week.
Persons: Margaret Yang, Yang Organizations: U.S . Federal Reserve, U.S, Congress, Pfizer, Fitch Solutions Locations: SA, Lugano, Switzerland
Oil prices rise as producers agree on supply compromise
  + stars: | 2020-12-04 | by ( ) www.cnbc.com sentiment -0.99   time to read: +1 min
Oil prices rose on Friday, heading for a fifth week of gains, after major producers agreed to continue to restrain production to cope with coronavirus-hit demand but the compromise fell short of expectations. Brent was up 19 cents, or 0.4%, at $48.89 a barrel by 0102 GMT after gaining around 1% on Thursday. OPEC and Russia on Thursday agreed to ease deep oil output cuts from January by 500,000 barrels per day, failing to come to a compromise on a broader policy for the rest of next year. "These meetings will bring some volatility to the market and, importantly, stand to make hedging harder for U.S. producers," Innes said. The funding measure was earlier rejected by Democrats who say more money is needed to address the raging pandemic.
Persons: Brent, Stephen Innes, Innes Organizations: . West Texas, of, Petroleum, U.S . Congress Locations: Long Beach, Los Angeles, Long Beach , California, Russia, OPEC
A protester outside the White House urges the United States to take action to stop the oppression of the Uyghur and other Turkic peoples, on August 14, 2020 in Washington, DC. Chip Somodevilla | Getty Images News | Getty ImagesA Chinese dissident has targeted three American corporations after a report alleged that they lobbied the U.S. Congress to weaken a bill banning imports made using forced labor in China's Xinjiang province. Strong denial from ChinaIn a statement to CNBC, China's embassy in the United States denied that it uses forced labor. "Some US politicians have concocted disinformation of so-called 'forced labor' in order to restrict and oppress relevant parties and enterprises in China as well as contain China's development," said Chinese Foreign Ministry spokesperson Hua Chunying. Coca-Cola said it prohibits any type of forced labor in its supply chain and uses independent, third-party audits to enforce its guidelines.
Persons: Chip Somodevilla, Hua Chunying, Badiucao, Vaclav Havel, Colin Kaepernick's, Colin Kaepernick, Angela Weiss Organizations: House, Getty, U.S, Congress, New York Times, Uyghur, Labor, Nike, Apple, U.S . Chamber of Commerce, UN, CNBC, China's, United States, Foreign Ministry, Capitol, U.S . Senate, Creative, NFL, AFP Locations: United States, Washington ,, China's Xinjiang, China's, China, Xinjiang, Australia, Xinjiang Uighur Autonomous Region, New York City
for Vaccine Briefing, but White House Takes Little Short-Term Action as Virus Worsens Vice President Mike Pence’s trip to Georgia includes speaking at a rally for the state’s two senators. Dr. Anthony Fauci accepted President-elect Joe Biden’s offer “on the spot” to be his chief medical adviser. A decades-long organizing effort led by Black women delivered Georgia to Democrats in 2020. Much better than the Americans have.” Dr. Fauci seemed more than a little skeptical. Later, a chagrined-looking Dr. Fauci, who is ordinarily averse to public conflict, appeared on British television saying that he wanted to apologize.
Persons: Mike Pence’s, Dr, Anthony Fauci, Joe Biden’s, Black, Felicia Davis, Audra Melton, Joseph R, Biden, , Will, we’ve, Trump, weren’t, that’s, , Stefani Reynolds, It’s, Anthony S, President Trump, Fauci, he’s, , NBC’s, Mr, Gavin Williamson, “ We’ve, Ella Koeze, Ernie Tedeschi, “ we’re, Organizations: The New York Times, Democrats, Democratic Party, , Nse, New, National Institute of Allergy, American, BBC, , Labor Department, of Labor Statistics, Congress, ISI, of Labor Statistics Covid Locations: Georgia, Clayton County, New Georgia, British, — U.S
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