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☆ Don't try to turn your passion into a job or pay for private school, says business guru Scott Galloway
▼ + stars: | 2024-06-16 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Read previewAlmost nobody should try to turn their passion into a career, bet the farm on a single investment, expect to escape rejection in life — or pay for private school, says Scott Galloway. Galloway is a marketing professor at NYU Stern and a host of podcasts like "Pivot" and "The Prof G Show." Related stories"As you get older, you become really passionate about taking care of your kids," he said. "You become really passionate about doing wonderful things with your spouse, taking care of your parents, and your priorities change." Advertisement"All you need is one good mentor, a few good friends, one wonderful mate, one business that works," Galloway said.

Persons: —, Scott Galloway, NYU Stern, G, Galloway, I've, Kanye, Madeleine Albright, Stephen Hawking Organizations: Service, NYU, Business, Grace Locations: Scott Galloway . Galloway

☆ South Africa's cash giveaway plan is not universal basic income, experts say
▼ + stars: | 2024-06-13 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewSouth Africa's top political party has proposed a social safety net that's been called the first national universal basic income (UBI) program. The African National Congress, led by Nelson Mandela in the 1990s, recently outlined its plan to expand South Africa's Social Relief of Distress program. AdvertisementCleo Goodman, the basic income lead at think tank Autonomy, told Business Insider that the ANC's proposal followed years of basic income advocates making their case through "pilots, research and widespread campaigning." Advertisement"Despite the name, this proposal falls far short of a basic income," Karl Widerquist, a philosophy professor at Georgetown University-Qatar and the author of several books about UBI, told BI.

Persons: —, Nelson Mandela, Cleo Goodman, Goodman, Karl Widerquist, Widerquist, Chris McGrath, It's, doesn't Organizations: Service, African National Congress, Social, Business, ANC, Autonomy, Georgetown University, Qatar Locations: Alexander, Johannesburg, South Africa

☆ US bus company Coach files for bankruptcy to sell its business
▼ + stars: | 2024-06-12 | by ( ) edition.cnn.com time to read: +2 min

Coach USA, the operator of Megabus and other commuter bus lines in the US and Canada, filed for bankruptcy protection in Delaware late Tuesday, seeking to sell its assets and shed debt incurred in an ill-timed 2019 private equity buyout. Coach, the largest privately owned bus company in the US, was acquired by private equity firm Variant Equity Advisors for $270 million, mostly using debt that is still on the company’s books. Coach CEO Derrick Waters said that buses will continue to run as normal during the company’s bankruptcy. The company operates several other bus brands in addition to Coach, including Megabus, Dillon’s Bus Company, and Go Van Galder. Renco Group, a private investment company, would acquire the majority of Coach’s assets in exchange for taking on $130 million of company debt and certain union contracts.

Persons: Derrick Waters, ” Waters, Van Galder Organizations: USA, Equity, Coronavirus, Economic Security, Dillon’s Bus Company, Renco, Avalon Transportation, ABC Buses Locations: Canada, Delaware, Wilmington , Delaware, Atlanta , Georgia

☆ As one Social Security program marks a 50-year anniversary, here's how benefits may change
▼ + stars: | 2024-06-11 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Martonaphoto | Moment | Getty ImagesUpdates aimed at improving benefit accessThe Social Security Administration is taking steps to try to reduce some of the restrictions that come with SSI benefits. It is also expanding the rental subsidy policy for SSI applicants and beneficiaries, as well as the definition of a public assistance household. Those changes should allow more people to access and qualify for SSI, O'Malley said. Under current limitations, at work, SSI beneficiaries may not be able to contribute to a 401(k) or earn raises. Individuals who receive both Social Security and SSI benefits may see reductions to their payments.

Persons: O'Malley, Emerson Sprick, Rylin Rodgers, Rodgers, Wendell Primus, Nancy Pelosi, Tracey Gronniger Organizations: Social Security Administration, SSI, Social Security, Center, Microsoft, Brookings, Justice, Aging

☆ A DC basic income program is letting people choose the amount on their checks. A participant said $1,400 a month is what she needs to pay medical bills.
▼ + stars: | 2024-05-31 | by ( Allie Kelly | ) www.businessinsider.com time to read: +6 min

And since last fall, she's been a participant in a Washington DC-area guaranteed basic income program. With her husband's SSDI disability benefit, the couple lives on a fixed income of under $2,000 each month, which is separate from their guaranteed basic income. Basic income has alleviated some of her financial anxiety, but she said "it's still not enough" to feel stable. The basic income program Kelly participates in is one of over 100 pilots across the US. Have you benefitted from a guaranteed basic income program?

Persons: —, Deborah Ogarro Kelly, Kelly, she's, it's, GBI, hasn't, We've Organizations: Service, Washington DC, Business, SNAP, Economic Security, Community Foundation's Health Equity Fund, City, BI, Republican Locations: Washington, The City, City

☆ DOJ charges Chinese national with operating 'world's largest botnet' that stole $5.9 billion in Covid relief funds
▼ + stars: | 2024-05-29 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Federal Bureau of Investigation Director Christopher Wray said it is "likely the world's largest botnet ever." The botnet hacked into over 19 million IP addresses in nearly 200 countries, the DOJ announcement said. In particular, the botnet targeted Covid relief programs and filed an estimated 560,000 false unemployment insurance claims, stealing $5.9 billion. The DOJ partnered with the FBI and other law enforcement agencies internationally to dismantle the botnet and arrest Wang. The charges come as U.S. law enforcement agencies try to update protocols to keep up with more sophisticated cybersecurity threats.

Persons: Wang, Christopher Wray, S, Axelrod, they're, Wray Organizations: US Department of Justice, Department of Justice, DOJ, Federal Bureau of, FBI, Export Enforcement, U.S . Department of Commerce's, of Industry, Security, Treasury Department, Treasury, Code, Tulip Biz, Company, Lily Suites Company Locations: Washington , DC, U.S, China

☆ A year after a single mom stopped getting $500 a month through Chicago's basic income program, she's still holding down an apartment and making ends meet: 'It was every single thing that I prayed for.
▼ + stars: | 2024-05-23 | by ( Allie Kelly | ) www.businessinsider.com time to read: +5 min

Participants across the country have told BI they spent basic income money to pay rent, afford groceries, pay off debt, and support their children. In April, Chicago announced that it will restart it's basic income program. The renewed Chicago program will join a wave of over 100 basic-income pilots that have been launched since 2019. Fisher is still worried about costs, but Chicago basic income gave her 'a brand new start'When Fisher began receiving basic income, she felt immediate relief. With basic income payments, Fisher was able to afford daily expenses and buy the clothes and shoes she and her daughter needed.

Persons: —, Jennette Fisher, Sophia, Fisher, Fisher would've, Teri Olle, Chuck E, hadn't, She's, she's, Chicago's Organizations: Service, Business, SNAP, Economic Security, Chicago, father's Locations: Chicago, City, Economic Security California

☆ Here's where the last $6 billion in CHIPS Act semiconductor award money is going
▼ + stars: | 2024-05-23 | by ( Megan Cassella | In | ) www.cnbc.com time to read: +2 min

The rollout of the Biden administration's CHIPS Act award money has so far focused on providing major awards for major companies, with just four leading-edge semiconductor manufacturers receiving the lion's share of the $33 billion that has been allocated to this point. Now, with $6 billion remaining, the focus is shifting to sending smaller awards to smaller companies—dozens of them, up and down the supply chain. "We are really focused on investing across the semiconductor ecosystem," Michael Schmidt, director of the CHIPS Program Office at the Commerce Department, told CNBC. Intel , Taiwan Semiconductor , Samsung and Micron combined will receive nearly $28 billion, while GlobalFoundries received $1.5 billion and four smaller companies – BAE Systems, Microchip , Polar Semiconductor and Absolics – received a combined $392 million. Another $3.5 billion has been set aside for the "secure enclave" program, which will produce semiconductors for military use.

Persons: Michael Schmidt, Schmidt, Gina Raimondo, GlobalFoundries, – Organizations: Biden, Commerce Department, CNBC, Intel, Taiwan Semiconductor, Samsung, Micron, BAE Systems, Polar Semiconductor

☆ Over 100 basic-income pilots have run in US cities. Now states are getting creative to fund no-strings-attached cash payments.
▼ + stars: | 2024-05-21 | by ( Allie Kelly | ) www.businessinsider.com time to read: +12 min

Basic income has become a trending strategy to combat poverty in cities nationwide. ARPA funds have been used to partially or fully fund most US basic-income pilots so far, but funds are set to expire. While philanthropy and nonprofit work have been central to basic-income pilots, they are not always a long-term or large-scale funding solution. More GBI programs are electing to focus on specific groups of participants, like low-income parents with children and foster youth. The program is funded through the Temporary Aid to Needy Families Program (TANF), an existing federal cash assistance program for low-income families.

Persons: —, Michael Tubbs, Tubbs, It's, Tubbs —, GBI —, Marcela Díaz, let's, Díaz, Teri Olle, Olle, John Gillette, Ken Paxton, Dustin Palmer, GiveDirectly, Palmer, Shafeka Hashash, Hashash, Hashah, GBI Organizations: Service, Business, SNAP, Medicaid, Somos Un, Somos Un Pueblo Unido, Economic Security, New, New Mexico House, California Senate, Republican, South Dakota Republicans, ARPA, Pew Charitable Locations: Stockton , California, Durham , North Carolina, Birmingham, Chicago, Antonio, San Antonio, Denver, Seattle, California, New Mexico, State, Mexico, Somos, Somos Un Pueblo, Economic Security California, Arizona, Iowa, Harris County , Texas, Flint , Michigan

☆ Biden confronts 2024 weak spots with young, Black voters at Morehouse commencement
▼ + stars: | 2024-05-19 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

U.S. President Joe Biden addresses Morehouse College graduates during a commencement ceremony in Atlanta, Georgia, U.S., May 19. Biden's commencement address at Morehouse comes as recent polling has showed Black voters, especially young ones, have weakening enthusiasm for the president. Meanwhile, former President Donald Trump's support from Black voters has increased by 9 percentage points. But Biden still has the majority of support among Black voters, at 69% vs. Trump's 18%. Vice President Kamala Harris has spent years reaching out to Black voters over the course of Biden's first term.

Persons: Joe Biden, Morehouse, Donald Trump's, Biden, Biden's, Sebastian Gordon, Kamala Harris, Wally Adeyemo, Steven Horsford, Harris, Adeyemo Organizations: Morehouse College, Morehouse, Black, NBC, NBC News, White House, Georgia, NAACP, state's Democratic, Biden Locations: Atlanta , Georgia, U.S, Gaza, Black, Atlanta, Israel, Detroit, Nevada, Wisconsin

I've been working with wealthy clients for nearly 15 years, and I've noticed a few common habits. I've been advising wealthy clients for nearly 15 years, and I'm often asked for the secret sauce, or the commonalities I see in my wealthiest financial-planning clients that make them successful. My most successful clients lean on us to help them separate those emotions and make sound financial decisions. My most successful clients value receiving comprehensive financial plans specific to their goals and situations. My most successful clients value receiving comprehensive financial plans specific to their goals and situations.

Persons: I've, —, I'm, that's, they've, doesn't Organizations: Service, Everest, Google, Jobs, Relief, Economic Security Locations: Policygenius

☆ U.S. and China trade divisions threaten a 'reversal' for global economy, IMF official warns
▼ + stars: | 2024-05-08 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Carlos Barria | Afp | Getty ImagesDifferences between U.S.-led Western and China-aligned economic blocs threaten global trade cooperation and economic growth, a top official with the International Monetary Fund warned on Tuesday. IMF Deputy Managing Director Gita Gopinath said in a speech at Stanford University that events such as the global pandemic and Russia's invasion of Ukraine have disrupted global trade relations in ways not seen since the Cold War. "Increasingly, countries around the world are guided by economic security and national security concerns in determining who they trade with and invest in," she said, adding that this has resulted in countries increasingly picking sides between China and the U.S. Trade between the China and U.S. blocs has declined compared with trade among countries within the groupings, Gopinath said. The U.S. bloc mainly includes Europe, Canada, Australia and New Zealand, while China-leaning countries include Russia, Eritrea, Mali, Nicaragua and Syria.

Persons: Xi Jinping, Carlos Barria, Gita Gopinath, Gopinath Organizations: National Committee, China Relations, China Business Council, Economic Cooperation, APEC, Afp, International Monetary Fund, Stanford University, U.S, IMF, Trade, West Locations: Asia, San Francisco , California, China, Ukraine, Washington, Beijing, U.S, South, Taiwan, Europe, Canada, Australia, New Zealand, Russia, Eritrea, Mali, Nicaragua, Syria

It shows a curated look at women embracing domesticity as the antithesis of what other young women are experiencing, who are "working hard and barely scraping by," said Casey Lewis, a social media trend forecaster. Evidence shows this is something few women are actually doing, and it's not a realistic lifestyle to aspire to. Young women, whether they're married or not, are expressing a desire to "take a step out of the professional rat race," Lewis said. "There's a lot of pressure on young women," she said. In cases where men are the primary breadwinners, it's more often women who take on the bulk of the caretaking responsibilities, experts say.

Persons: Casey Lewis, it's, Stacy Francis, Eve Rodsky, tradwives, Rodsky, Francis, Heather Boneparth, they're, Lewis, Julia Pollak, Pollak Organizations: Francis Financial, CNBC's, Berkeley Haas Center for Equity, Gender, Pew Research Center, Intuit, ZipRecruiter, Bureau of Labor Statistics Locations: New York, millennials, U.S

☆ Pregnant Workers Fairness Act: Employers now have to give workers time off for an abortion or pregnancy care
▼ + stars: | 2024-04-16 | by ( Tami Luhby | ) edition.cnn.com time to read: +3 min

CNN —Most employers must offer “reasonable accommodations” to workers related to pregnancy or childbirth, including providing time off for an abortion, according to a final rule issued Monday by the Equal Employment Opportunity Commission. The rule clarifies the provisions of the Pregnant Workers Fairness Act, which became law last June after Congress passed it as part of a federal government spending package in late 2022. The measures apply to employers with at least 15 workers unless the accommodations would cause “undue hardship” for the employer. It also provides many examples of accommodations and encourages employers and workers to communicate early and frequently about the requests. “The Pregnant Workers Fairness Act is a life-changing protection for pregnant and postpartum workers nationwide, ensuring they aren’t forced off the job or denied the accommodations they need for their health.”

Persons: ” Dina Bakst, “, ” Organizations: CNN, Commission, US, of Commerce

☆ Here's how guaranteed basic-income programs get their funding
▼ + stars: | 2024-04-09 | by ( Allie Kelly | Noah Sheidlower | ) www.businessinsider.com time to read: +6 min

Cities like San Antonio, Austin, Denver, Boston, and Minneapolis have turned to basic-income pilot programs to explore ways to reduce those poverty levels. Republicans in Texas, Arizona, Iowa, and South Dakota are making efforts to ban GBI programs at the municipal and state level. AdvertisementStates and cities sometimes fund basic-income programsMany basic-income programs receive funding directly from state and local governments. Nonprofits and philanthropy play a key role in basic-income fundingOther basic-income programs are organized through a nonprofit, or receive funding from foundations and private donors. Along with funding cash payments, the Economic Security Project said that philanthropic donations can help a GBI programs pay for income policy research.

Persons: —, Monique Gonzalez, John Gillette, Flint, Joe Biden, Jack Dorsey, UpTogether Organizations: Service, Economic Security, Business, SNAP, Republicans, BI, American, ARPA, Chicago's Department of Family, Support Services, Mayors, Georgia Resilience, GRO Fund, Colorado Trust Locations: Cities, San Antonio, Austin, Denver, Boston, Minneapolis, Texas , Arizona , Iowa, South Dakota, Arizona, California, Los Angeles, San Francisco, Sacramento, Michigan, Massachusetts, Texas, Chicago, Somerville , Massachusetts, GBI, Harris, Houston, Georgia, Atlanta, Colorado

☆ Retailers like Peloton and Saks keep paying vendors late, signaling possible 'financial distress'
▼ + stars: | 2024-04-04 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +13 min

To be sure, late payments don't always signal financial troubles. Creditsafe spokesperson Ragini Bhalla said payment data is only one factor the firm considers when assessing a company's financial health. Though the data "doesn't represent a company's total trading behavior, analysis has proven that it is hugely predictive of a company's financial health and creditworthiness," Bhalla said. "When the number of late payments increases like this, it's often indicative of financial challenges and poor cash flow forecasting," Creditsafe said. While Saks often made late payments last year, its on-time payments have dropped significantly since October 2023, the firm said.

Persons: Saul Loeb, Perry Mandarino, Mandarino, Creditsafe, Ragini Bhalla, Bhalla, Barry McCarthy, Simeon Siegel, Siegel, he's, Peloton's DPO, Marc Metrick, Metrick, Mark Still, Stewart Glendinning, Tim Baxter Organizations: Saks, Washington , D.C, AFP, Getty, Bed, RadioShack, CNBC, Retailers, Body, Body Works, Riley Securities, BMO Capital Markets, Business of Fashion, HBC, Express, Street, Creditsafe, Economic Security, IRS, New York Stock Exchange, Bath Locations: Washington ,, Express, Creditsafe, U.S

☆ US reindustrialization will be the top investment theme of coming decades, RBA says
▼ + stars: | 2024-03-23 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +4 min

The "US industrial renaissance" will be the top investment theme of the coming decade, Richard Bernstein Advisors said. The trend of American companies shifting away from dependence on foreign labor and supply chains should dominate investment strategies in the coming decades the firm said. "The market is already rewarding the beneficiaries of this capital reallocation, but we expect years, if not decades, of further performance from this critical investment theme," RBA president Richard Bernstein said in a note this week. For the US, that means big investment in infrastructure on manufacturing will be needed in the coming years as the world reorients. "The market has already recognized the re-industrialization investment theme despite investors' myopia with respect to more exciting technology-related themes, like artificial intelligence.

Persons: Richard Bernstein, Overreliance, Bernstein, — Organizations: Richard Bernstein Advisors, Service, Republicans Locations: America

☆ A Texas millennial wasn't satisfied with his dating life. He said things changed when he started earning $100,000 a year.
▼ + stars: | 2024-03-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

A Texas millennial says his dating life improved when he started making more money as a pharmacist. AdvertisementWhen Benjamin Gibson was in his early 20s, he didn't have much success in the dating scene. Gibson isn't the only American who thinks a strong career and financial profile could help their dating success. "I do feel better because it took me time to have confidence, even after I started working as a pharmacist." Has career success helped your social or dating life?

Persons: —, Benjamin Gibson, Gibson, he'd, Pinghui Wu, he's, doesn't Organizations: Service, Business, Bureau of Labor Statistics, Federal Reserve Bank of Boston, Boston Fed Locations: Texas, Virginia

☆ What kind of 'Barbie' are you? Here are the Barbieland jobs that most real-life women hold, according to government data
▼ + stars: | 2024-03-14 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

In the "Barbie" movie, the narrator says, "Barbie has a great day every day." As women's participation in the labor force has increased over the years, the group continues to face hurdles along the way. "We have the tightest labor market for women in the past 20-something years," Bustamante said. "As the labor market gets tighter and tighter and tighter, women's employment rises faster than men's," Pollak said. "To think of just the scale of construction employment and women are still such a marginal piece of that sector," he said.

Persons: Margot Robbie, Barbie, Julia Pollak, R, Bustamante, Pollak, " Pollak Organizations: Mattel, Warner Bros, U.S . Bureau of Labor Statistics, Roosevelt Institute, Census, National Women's Law, Warner Brothers Pictures Locations: New York, U.S

☆ Equal Pay Day highlights an up to $1.2 million salary shortfall for women of color
▼ + stars: | 2024-03-12 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

Based on today's wage gap, a woman just starting out will lose $399,600 over a 40-year career, according to the National Women's Law Center. The pay gap worsens significantly for Black and Latina women. For Black women, the lifetime wage gap adds up to $884,800, and for Latina women, the losses total $1,218,000, the nonprofit advocacy group found. Why the gender pay gap persistsThere is no single explanation for why progress toward narrowing the pay gap has mostly stalled, according to a separate report by the Pew Research Center. What it takes to achieve progressNo "one thing" is going to close the wage gap, Tucker said.

Persons: Jasmine Tucker, Tucker, Ofronama Biu, Biu Organizations: Census, National Women's Law, National Women's, Center's, Black, Latina, Pew Research Center, Urban Institute, Employers

☆ IRS free tax filing program launches in 12 pilot states. Here's what to know
▼ + stars: | 2024-03-12 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

After weeks of testing with roughly 1,500 returns, Direct File, a free tax filing program from the IRS, is now fully open in 12 pilot states, according to the U.S. Department of the Treasury. While the pilot focuses on "simple tax situations," the Treasury estimates the pilot could cover about one-third of tax situations for 19 million taxpayers. "Dozens of countries have provided free tax options to their citizens for years," Deputy Secretary of the Treasury Wally Adeyemo said during a press call on Monday. "American taxpayers who want to file their taxes for free directly with the IRS should have that option." More from Personal Finance:Trump vs. Biden: What a presidential election rematch could mean for your taxesTax pros brace for 'tidal wave' of crypto tax scrutiny from the IRS.

Persons: Wally Adeyemo, Biden, Adeyemo Organizations: U.S . Department of, Treasury, Finance, Trump, Economic Security

☆ Promises Donald Trump has made so far in his campaign for a second term
▼ + stars: | 2024-03-06 | by ( Piper Hudspethblackburn | Piper Hudspeth Blackburn | ) edition.cnn.com time to read: +17 min

Trump also said in that campaign video that he would cut funding for schools that teach critical race theory and gender ideology. Health careLast November, Trump promised to replace the Affordable Care Act, known colloquially as Obamacare, in a series of posts on Truth Social. Trump also vowed in a June 2023 campaign video to reinstate his previous executive order so that the US government would pay the same price for pharmaceuticals as other developed countries. The former president added in a campaign video that he would stop lobbyists and government contractors from pushing senior military officials toward war. We will reverse almost all of them,” Trump said in a campaign video.

Persons: Donald Trump, Joe Biden, Immigration Trump, Trump, ”, “, ” “ We’ll, ” Trump, Education Trump, Obamacare, Biden, ” “, Antonin Scalia, Samuel Alito, Clarence Thomas, ‘ Everybody’s, ’, ‘, he’s, Energy Trump, “ We’re, ” “ It’s, Equity “, CNN’s Tami Luhby, Kate Sullivan, Kristin Holmes Organizations: CNN, Republican, Immigration, Des Moines Register, ATF, FBI, DHS, Hamas, Department of Defense, Education, of Education, of Justice, Department of Education, Health, Trump, Democrats, Trump Administration, Justice, CIA, Department, U.S, Attorneys, Soros District, Marxist, National Guard, Department of Justice, NATO, Cities, Environmental Protection Agency, Energy, Trade, Trump Reciprocal Trade, Economy Trump, Black Conservative, Rifle Association, Legislative Action, Equity Locations: United States, Israel, America, United States of America, State, Washington , DC, Washington, NATO, American, South Carolina, Russia, Ukraine, New Hampshire, New, China, Michigan, Des Moines , Iowa

☆ 2 Scientists in Canada Passed On Secrets to China, Investigations Find
▼ + stars: | 2024-02-29 | by ( Ian Austen | ) www.nytimes.com time to read: +1 min

Two scientists who worked at Canada’s top microbiology lab passed on secret scientific information to China, and one of them was a “realistic and credible threat to Canada’s economic security,” documents from the national intelligence agency and a security investigation show. Canadian universities can now be disqualified from federal funding if they enter into partnerships with any of 100 institutions in China, Russia and Iran. The release of the documents was the subject of a prolonged debate in Parliament that began before the last federal election, in September 2021. Opposition parties asked to see the records at least four times and found the Liberal government to be in contempt of Parliament in 2021. The government filed a lawsuit in an attempt to keep the records hidden, but dropped it when the vote was called.

Persons: Xiangguo Qiu, Keding Cheng Organizations: Commons, Liberal Locations: China, Russia, Iran

☆ China making 'concerted effort' to dominate critical US ports equipment, Biden official says
▼ + stars: | 2024-02-29 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +7 min

SUZHOU, CHINA - FEBRUARY 27: A gantry crane hoists vehicles for export at Taicang Port's International Container Terminal on February 27, 2024 in Suzhou, Jiangsu Province of China. Gene Seroka, executive director of the Port of Los Angeles, told CNBC that Biden's executive order is a wake-up call for the port and supply chain industry. "The bottom line is that today's high-tech cranes can collect data and that is why this executive order is so important," said Seroka. "It's no secret that China has both the capability and the intent to challenge the rules based trade system. The Biden administration has positioned the executive order as part of a "whole government approach" in securing the nation's ports.

Persons: Biden, Christa Brzozowski, ZPMC, Gene Seroka, Brzozowski, Carlos Gimenez, John Vann, Vann, Wayne R, Arguin Jr, Arguin Organizations: Taicang, Getty, Department of Homeland Security, Homeland Security, Coast Guard, Transportation, Maritime Security, Shanghai Zhenhua Heavy Industries Co, Capitol, CNBC, Cyber Security Operations Center, Guard, White, Resilience, of Commerce, Defense, Coast Guard Cyber Command, US Coast Guard, U.S Locations: SUZHOU, CHINA, Suzhou, Jiangsu Province, China, Capitol, United States, U.S, Republic of China, Shanghai, Beijing, Capitol Hill, of Los Angeles, Los Angeles

☆ Space nukes are raising tensions between Moscow and Washington. Here’s what you need to know
▼ + stars: | 2024-02-22 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +8 min

Kari Bingen director of the aerospace security project and senior fellow in the international security program at the Centre for Strategic International Studies. Space-based anti-satellite nuclear weapons — or so-called space nukes — are a type of weapon designed to damage or destroy satellite systems. "It's an indiscriminate weapon," Bingen said. The deployment of a space-based nuclear weapon would mark a major advancement of Russia's military capabilities and a serious escalation of geopolitical tensions. Kari Bingen director of the aerospace security project and senior fellow in the international security program at the Centre for Strategic International Studies.

Persons: Vladimir Putin, Alexander Ryumin, Mike Turner, Joe Biden, It's, Kari Bingen, Bingen, Juan Barreto, Putin, CNBC's Silvia Amaro Organizations: Sputnik, Chelyabinsk, Afp, Getty, U.S, White, CNBC, . House Intelligence, Bloomberg, Centre, Strategic International Studies, Analysts, Strategic International, United Nations Office, Outer Space Affairs, Elon Musk, Reuters, U.S ., Space Foundation, The, NATO, General, Saturday, Munich Security Conference Locations: Russian, Chelyabinsk Region, Chelyabinsk, Washington, Moscow, Russia, Ukraine, China, Bogota, U.S, The U.S

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