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Kavak Chief Executive Carlos Garcia poses for a photo at used autos platform Kavak in Mexico City, Mexico, August 25, 2020. Founded nearly five years ago in Mexico, Kavak expanded to Argentina in 2020, before landing in Brazil this year, which it described as its largest market. The company will most likely focus next on expanding to emerging markets beyond Latin America, CEO Garcia told Reuters, noting that announcements could come within six months. Kavak says it now has 5,000 employees across Latin America. Chinese consumer habits closely resemble those in Latin America, Garcia said.
Persons: Carlos Garcia, Edgard Garrido, Kavak, Catalyst, Peter Thiel's, Japan's SoftBank, Garcia, Cassandra Garrison, Matthew Lewis Organizations: REUTERS, Reuters, U.S, SoftBank Group Corp, Fund, Sea Ltd, Tiger, Ribbit, Kavak, Global Inc, Thomson Locations: Mexico City, Mexico, MEXICO, America, Singapore, House, Argentina, Brazil, Latin America, United States, U.S
But forecasters and outside analysts expect the Fed to hedge on exactly when the “taper” might begin, and tie it to a rebound in job growth following the disconcertingly tepid report in August, when only 235,000 jobs were created. While August job growth was disappointing, U.S. nonfarm payrolls swelled by just over 1 million in July and have increased an average 716,000 since May. Fed officials, however, may decide they need more time to assess the risk from a handful of evolving issues before deciding to push ahead with the reduction in the bond-buying program. Leaning in the other direction: The surge of COVID-19 infections driven by the Delta variant of the coronavirus. Some measures of service activity have dipped, prompting forecasters to mark down their outlooks for economic growth this year.
Persons: Jerome Powell, Graeme Jennings, Aneta Markowska, Thomas Simons, nonfarm payrolls, Powell, Joe Biden Organizations: WASHINGTON, Federal, House, Capitol, Jefferies, Fed, Financial, China Evergrande Group, Kansas City Fed Locations: Washington , U.S, U.S
Founded nearly five years ago in Mexico, Kavak expanded to Argentina in 2020, before landing in Brazil this year, which it described as its largest market. The company will most likely focus next on expanding to emerging markets beyond Latin America, CEO Garcia told Reuters, noting that announcements could come within six months. Kavak says it now has 5,000 employees across Latin America. We’re starting to see this early trend in Latin America, we think it’s going to be a huge driver for Kavak in the next few months,” Garcia said. Chinese consumer habits closely resemble those in Latin America, Garcia said.
Persons: Carlos Garcia, Kavak, Catalyst, Peter Thiel’s, Japan's SoftBank, Garcia, , , ” Kavak, ” Garcia, Cassandra Garrison, Matthew Lewis Organizations: MEXICO CITY, Reuters, U.S, SoftBank Group Corp, Fund, Sea Ltd, Tiger, Ribbit, Kavak, Inc Locations: MEXICO, America, Mexico, Singapore, House, Argentina, Brazil, Latin America, United States, U.S
WASHINGTON — The House passed legislation Tuesday that would fund the government through Dec. 3 and extend the debt limit until after the 2022 elections. House Republican leaders pressured their members to oppose the bill. Pelosi said the debt limit "is about paying bills already incurred." After all, they control the White House, the House of Representatives and the Senate," he said. Democrats, however, noted that there was bipartisan support for raising the debt limit during the Trump administration.
Persons: WASHINGTON, Mitch McConnell, Donald Trump, Steny Hoyer, Nancy Pelosi, Pelosi, Dan Meuser, Tom Cole, Trump, Debbie Wasserman Schultz, Marcy Kaptur, I'm, Israel, Stephanie Murphy, Hoyer placated Organizations: Republicans, Democrats, Senate, Republican, Democratic, White, Trump, Israel's, Party, Moderate, Iron Locations: Ky, Ohio, Afghanistan, Israel, America
That would have the effect of letting Republicans avoid voting for a debt limit increase ahead of next year's congressional elections. After the House vote, McConnell and fellow Republican Senator Richard Shelby said they had introduced a bill to fund current government operations through Dec. 3, but without raising the debt limit. Democrats have resisted doing that so far, saying the vote to raise the debt limit should be a bipartisan one. The Treasury Department will some time in October exhaust its borrowing authority unless the debt limit is raised. Republicans said they would support a temporary spending bill to avert a shutdown if the debt limit extension were stripped out of the bill.
Persons: Jonathan Ernst WASHINGTON, Nancy Pelosi, Chuck Schumer, Mitch McConnell's, McConnell, Richard Shelby, Schumer, Pelosi, Joe Biden, They’re, Republican Steve Scalise, Donald Trump's, Richard Cowan, Susan Cornwell, David Morgan, Scott Malone, Kieran Murray, Peter Cooney Organizations: Capitol, J6, REUTERS, Republicans, Senate, White, Democratic, Treasury Department, Democrats, Social Security, Republican, Thomson Locations: Washington , U.S, America, U.S
The House passed a measure to keep the government funded for another two months and prevent a debt default. But it does little to resolve the standoff between Democrats and Republicans as the US veers into a potential government shutdown. But the measure is poised to tank in the Senate, as Minority Leader Mitch McConnell has warned many times. The measure stands no chance in the Senate as Republicans are lining up behind McConnell's pledge to torpedo the measure. "Democrats have the authority and the votes to raise the debt limit themselves," Brian Riedl, a budget expert at the right-leaning Manhattan Institute, said in an interview.
Persons: McConnell, Mitch McConnell, Brian Riedl, Sen, Shelley Moore Capito, Trump, Donald Trump, Bernie Sanders, leadership's, Mark Warner of, Warner Organizations: Republicans, Service, Senate, Republican, US, Democrats, Moody's, Manhattan Institute, Vermont, Mark Warner of Virginia Locations: West Virginia
Philippines lower house approves VAT for big tech firms
  + stars: | 2021-09-22 | by ( ) www.reuters.com   time to read: +1 min
Voting 167-6-1, lawmakers late on Tuesday approved on third and final reading a bill imposing a 12% value-added tax (VAT) on digital transactions in the Philippines. It will require foreign-based digital service providers to assess, collect and remit VAT on the transactions that go through their platform. In July 2020, a lower house committee approved the bill, which will tax firms that provide digital service or goods through an online platform. A similar bill has been submitted to the Senate. The Philippines is a growing market for big tech firms, with Filipinos among the heaviest social media users in the world.
Persons: Lazada, Neil Jerome Morales, Martin Petty Organizations: Apple, Facebook, Google, Netflix, Senate, Spotify, Thomson Locations: MANILA, Philippines, Indonesia, Thailand
Sometime in October, the Treasury Department will exhaust its borrowing authority unless the debt limit is raised. The bill would suspend the limit on government borrowing through December 2022. The current debt ceiling already has been breached, with debt at $28.78 trillion. Republicans said they would support a temporary spending bill to avert a shutdown if the debt limit extension were stripped out of the bill. Schumer said much of the latest debt is related to spending that Republicans supported during Donald Trump's presidency, including last December's emergency COVID-19 relief bill.
Persons: Jonathan Ernst WASHINGTON, Nancy Pelosi, Chuck Schumer, Mitch McConnell's, McConnell, Joe Biden's, Schumer, Pelosi, They’re, Republican Steve Scalise, Donald Trump's, Richard Cowan, David Morgan, Scott Malone, Dan Grebler Organizations: Capitol, J6, REUTERS, Democrat, Democratic, Senate, Republicans, Republican, Democrats, Treasury Department, Social Security, Thomson Locations: Washington , U.S, America, U.S
WASHINGTON — A long-delayed bill to provide financial support to U.S. government personnel believed to be suffering from Havana Syndrome is headed to President Joe Biden’s desk after the House passed it Tuesday. NBC News reported that diplomats affected by Havana Syndrome voiced frustration over continuing challenges in getting medical care and benefits in a tense hourlong conversation with Secretary of State Antony Blinken this month. The first incidents of the syndrome “medically confirmed” by the U.S. government were in Havana in 2016 and 2017. Many U.S. workers thought to be suffering from Havana Syndrome reported hearing a loud sound and feeling pressure in their heads. For years, those who have come forward reporting potential Havana Syndrome have complained about immense bureaucratic hurdles to getting proper medical care.
Persons: WASHINGTON, Joe Biden’s, Biden, Sen, Susan Collins, , Collins, Jeanne Shaheen, Democrat Mark Warner of Virginia, Republican Marco Rubio, Antony Blinken, Blinken, Kamala Harris ’, William Burns, Rubio, ” Rubio Organizations: American, Neurological, White, Senate Intelligence, Democrat, Republican, NBC News, Havana Syndrome, CIA, State Department, U.S, NATO, National Academies of Science Locations: U.S, Havana, HAVANA, Maine, Republican Marco Rubio of Florida, Cuba, China, Vietnam, India, Western Europe, Austria, Germany, Russia
FILE PHOTO: A view of the U.S. Capitol building in Washington, U.S. January 17, 2021. REUTERS/Erin Scott/File PhotoWASHINGTON (Reuters) - A Democrat-backed bill to fund the U.S. federal government through Dec. 3 and suspend its borrowing limit until the end of 2022, cleared a House of Representatives procedural vote on Tuesday, advancing to a final debate and vote.
Persons: Erin Scott Organizations: U.S . Capitol, REUTERS, WASHINGTON, Democrat Locations: Washington , U.S
U.S. debt limit is not a partisan issue, White House says
  + stars: | 2021-09-21 | by ( ) www.reuters.com   time to read: +1 min
Clouds pass over the White House in Washington, U.S., September 21, 2021. REUTERS/Joshua RobertsWASHINGTON, Sept 21 (Reuters) - President Joe Biden's administration will continue to argue that the U.S. debt limit is not a partisan issue and push Republicans and Democrats to vote to raise it, White House press secretary Jen Psaki said on Tuesday. "We will continue to make the case that it should be" raised, Psaki told reporters on board Air Force One. "It is not a partisan issue to want to protect the full faith and credit of the United States, and... we will continue to press for bipartisan support for moving forward." Republicans have refused to vote to increase the debt limit, citing Democrats' spending plans on infrastructure and social programs.
Persons: Joshua Roberts WASHINGTON, Joe Biden's, White, Jen Psaki, Psaki, Donald Trump's, Heather Timmons, Chris Reese, Dan Grebler Organizations: White, REUTERS, Air Force, Republicans, Thomson Locations: Washington , U.S, United States
In his first meeting with the cohort of State Department staffers affected in Cuba and China, Blinken spent more than an hour offering reassurances and fielding questions, with most affected staffers joining remotely by phone. “It's confounding and puzzling to everyone who works on this that we have not been able to determine the cause or attribution,” the senior State Department official said. Diplomats have bristled at the fact the FBI did not directly interview the diplomats affected. On the Sept. 10 call, when Blinken asked how the department could reduce the skepticism, at least one diplomat encouraged the State Department to publicly refute that report. “The FBI study is one I have actually read,” she told the diplomats, according to notes from the call.
Persons: Antony Blinken, Blinken, “ It's, they’re, , , Trump, Biden, “ That's, , Kamala Harris, William Burns, Pamela Spratlen, Spratlen Organizations: WASHINGTON –, State Department, NBC, Havana Syndrome, State Department’s Bureau of Medical Services, Pentagon, National Intelligence, NBC News, CIA, U.S, White House National Security Council, FBI, Diplomats Locations: WASHINGTON, WASHINGTON – U.S, Havana, Cuba, China, U.S, Vietnam, India,
The House Oversight Committee will hold a hearing to examine states' efforts to restrict abortion access, Democrats on the committee said Tuesday. According to the committee, the hearing will also examine possible federal legislative action to "protect and expand abortion rights and access." "When I was elected Chairwoman of the Committee on Oversight and Reform, I vowed to use my gavel to protect civil rights and civil liberties, including the constitutional right to abortion," Rep. Carolyn Maloney, D-N.Y., said. Witnesses at the Oversight Committee hearing include Dr. Ghazaleh Moayedi, a Texas-based OB-GYN, and Maleeha Aziz, a community organizer at the Texas Equal Access Fund. Rep. Cori Bush of Missouri, Rep. Barbara Lee of California, Rep. Pramila Jayapal of Washington, and Rep. Judy Chu of California will also testify.
Persons: Carolyn Maloney, Ghazaleh, Maleeha Aziz, Cori Bush of, Barbara Lee of, Pramila, Judy Chu, Bush, Lee, Jayapal — Organizations: Fund, Rep Locations: Missouri, Texas, Mississippi, Cori Bush of Missouri, Barbara Lee of California, Washington, California
REUTERS/Jonathan ErnstWASHINGTON, Sept 21 (Reuters) - The U.S. House of Representatives on Tuesday was scheduled to debate and vote on legislation to fund the federal government through Dec. 3 and raise the nation's borrowing limit, according to the House Appropriations Committee. Democrats have the votes to pass the measure in the House, but cannot get it through the Senate without Republican support. Sometime in October, the Treasury Department will exhaust its borrowing authority unless the debt limit is raised. Republicans said they would support a temporary spending bill to avert a shutdown if the debt limit extension was stripped out of the bill. 2 House Republican Steve Scalise told a news conference.
Persons: Jonathan Ernst WASHINGTON, Nancy Pelosi, Chuck Schumer, Mitch McConnell's, Schumer, Pelosi, They’re, Republican Steve Scalise, Donald Trump's, Richard Cowan, David Morgan, Scott Malone, Dan Grebler Organizations: Capitol, J6, REUTERS, U.S . House, Republican, Senate, Treasury Department, Democrats, Social Security, Republicans, Thomson Locations: Washington , U.S, U.S
WASHINGTON — House Democrats announced Tuesday an additional $28.6 billion in disaster relief and $6.3 billion in Afghan refugee aid has been added to a stopgap spending bill that needs to passed quickly in the coming weeks to avoid a government shutdown. On Monday, Democratic leaders announced plans to attach a debt limit extension to the stopgap funding bill, setting up a showdown with Republican senators. The Treasury Department has said the debt limit will be breached sometime in October if it's not lifted, which could disrupt the U.S. economy. The House bill includes $28.6 billion to address recent disasters, including Hurricane Ida earlier this year and from last year Hurricanes Delta, Zeta and Laura, wildfires, severe droughts and winter storms, according to a release. The continuing resolution would also suspend the debt limit into December 2020, which Senate Republicans are expected to balk over.
Persons: Rosa DeLauro, Conn, it's, Hurricane Ida, We're, we're, Pete Aguilar, McConnell Organizations: WASHINGTON —, Democratic, Republican, Treasury Department, Hurricanes Delta, Republicans, United, United States Government Locations: U.S, United States
REUTERS/Jonathan Ernst/File PhotoWASHINGTON (Reuters) - U.S. House of Representatives Democrats introduced legislation on Tuesday seeking to pull back powers from the presidency, part of an effort by lawmakers to rein in the White House after what Democrats saw as overreach during the administration of former Republican President Donald Trump. House Speaker Nancy Pelosi and Representative Adam Schiff planned to introduced the bill at a news conference. During his presidency, Trump fired a series of inspectors general - watchdogs tasked with fighting corruption at federal agencies. Democrats hold only a slim majority of House seats, and House Republicans stand firmly behind Trump. Aides to House Republican Leader Kevin McCarthy did not immediately respond to a request for comment.
Persons: Nancy Pelosi, Adam Schiff, Zoe Lofgren, Benny Thompson, Jonathan Ernst, Donald Trump, , Trump, Pelosi, Kevin McCarthy Organizations: House Homeland, U.S, Capitol, REUTERS, WASHINGTON, . House, Democrats, U.S . Constitution, House Republicans, Trump, Republican Locations: Washington , U.S, U.S ., Mexico, Iran, Saudi Arabia
REUTERS/Jonathan ErnstWASHINGTON, Sept 21 (Reuters) - The U.S. House of Representatives on Tuesday is scheduled to debate and vote on legislation to fund the federal government through Dec. 3 and raise the nation's borrowing limit, according to the House Appropriations Committee. Sometime in October, the Treasury Department will exhaust its borrowing authority unless the debt limit is raised from its current $28.4 trillion ceiling. The bill would suspend the limit on government borrowing through December 2022. The current debt ceiling already has been breached, with debt at $28.78 trillion. It is temporarily being financed through Treasury Department "extraordinary measures" that are projected to be exhausted in October.
Persons: Jonathan Ernst WASHINGTON, Nancy Pelosi, Chuck Schumer, Mitch McConnell's, Richard Cowan, Scott Malone, Dan Grebler Organizations: Capitol, J6, REUTERS, U.S . House, Republican, Treasury Department, Thomson Locations: Washington , U.S
REUTERS/Jeenah MoonCHICAGO/LONDON, Sept 21 (Reuters) - America's reopening to international air travelers can't come soon enough for U.S. and European airlines which have sorely missed the lucrative transatlantic market. "The transatlantic market is a key profit generator for the main European legacy airline groups," said Bernstein analyst Daniel Roeska. LEAN WINTERThe lifting of restrictions coincides with the onset of winter season, historically a lean period for international travel, when many airlines tend to make a loss. In the United States, though, airlines fear the travel recovery could by blunted by the Delta variant of the coronavirus. In early September, U.S. airline passenger volumes for international travel were just 44% of the pre-pandemic levels, according to data from trade body Airlines for America.
Persons: Biden, IAG, Bernstein, Daniel Roeska, Colin Scarola, Savanthi, Raymond James, David Shepardson, David Gregorio, Chris Sanders, Pravin Organizations: JetBlue, JFK International Airport, REUTERS, British Airways, Lufthansa, Air France, KLM, U.S, American Airlines, United Airlines, Delta Air Lines, Transatlantic, White House, Air, Virgin Atlantic, CFRA Research, Airlines for America, Thomson Locations: London, Queens, New York City , New York, U.S, CHICAGO, LONDON, United States, Air France, New York, Orlando, Las Vegas, Miami, Europe, Washington
WASHINGTON — House Democrats plan to press forward with legislation aimed at preventing abuses of presidential power, strengthening Congress’ ability to enforce subpoenas and boosting protections for whistleblowers in what supporters of the measures say is largely a response to Donald Trump's actions as president. House Speaker Nancy Pelosi, D-Calif., will highlight the Protecting Our Democracy Act during a press conference alongside its chief sponsor, Rep. Adam Schiff, D-Calif., chairman of the House Intelligence Committee. It would also ensure that incoming presidents have access to resources for the transition period following an election and would require the disclosure of contacts between the White House and Justice Department. Democrats introduced the measure in previous Congresses. If the measure advances in the House, Democrats would need at least 10 Republicans in the Senate to support the package for it to advance to a final vote.
Persons: Donald Trump's, Nancy Pelosi, Adam Schiff, Trump, Donald Trump, Paul Manafort, Roger Stone, Steve Bannon, Michael Flynn Organizations: WASHINGTON —, Democrats, House Intelligence, Protect, White, Justice Department, House, Republicans
The speech will be Biden’s first as president at the meeting, which will look much different from past gatherings with many world leaders opting to deliver their remarks virtually. “America is back,” Biden said during a meeting with the U.N. secretary general Monday. Among the challenges Biden plans to address are the Covid pandemic, climate change, trade and economics, investments in clean infrastructure, counterterrorism, and “vigorous competition with great powers, but not a new Cold War,” the official said. This year’s gathering of world leaders will be largely scaled down because of the pandemic. The UN has said that 83 leaders will make their remarks in person with the rest of the global leaders’ making pre-recorded remarks.
Persons: Joe Biden, Biden, Scott Morrison, Boris Johnson, ” Biden, , we’ve, , America's, Emanuel Macron, Jen Psaki, Still, Organizations: WASHINGTON, United Nations General Assembly, Australian, White, United Nations, NATO, French, World Health Organization, WHO, The, U.S, Trump, Covid, UN Locations: Afghanistan, New York, U.S, France, Australia, United Kingdom, United States, The U.S, Europe
FRANKFURT (Reuters) - House prices, now excluded from euro zone inflation data, would have persistently raised consumer prices in recent years, a study published by the European Central Bank showed on Tuesday, highlighting policymakers’ unease with the current indicator. REUTERS/Axel SchmidtOnce corrected for housing costs, euro zone inflation would have hit or even exceeded the ECB’s target some years, even as the bank was providing extraordinary stimulus to raise prices, figures from the study showed. Although the ECB does not calculate inflation data, it said in July that it would consider estimates on the cost of owner-occupied housing on inflation until Eurostat, the EU’s statistics agency, fixes the broader measure. Graphic: Euro yone inflation corrected for house price growth:Over two decades, however, the adjusted inflation figure would have been little different, the study argued, as housing costs could have been a drag on prices. The paper added that experimental, quarterly inflation figures with housing included could be published in 2023 while official quarterly data are not expected until 2026.
Persons: Axel Schmidt, Organizations: European Central Bank, REUTERS, ECB Locations: FRANKFURT, Mitte, Berlin, Germany
WASHINGTON—The House passed Tuesday a measure keeping the government funded until early December and suspending its borrowing limit through 2022, but without having resolved the partisan standoff poised to derail it in the Senate. With less than two weeks before the government’s current funding expires at 12:01 a.m. Oct. 1, the House passed in a 220-211 party-line vote a package unveiled earlier in the day that would fund the government through Dec. 3, 2021, and suspend the debt limit through Dec. 16, 2022. The Treasury Department is currently using emergency measures to cover America’s bills for several months until the debt limit is raised or suspended again.
Persons: WASHINGTON Organizations: Treasury Department
WASHINGTON—The House was expected to pass along party lines Tuesday a measure keeping the government funded until early December and suspending its borrowing limit through 2022, but lawmakers were no closer to ending the partisan standoff poised to derail it in the Senate. With less than two weeks before the government’s current funding expires at 12:01 a.m. Oct. 1, House Democrats prepared to quickly approve a package, unveiled earlier Tuesday, that would fund the government through Dec. 3, 2021, and suspend the debt limit through Dec. 16, 2022. The Treasury Department is currently using emergency measures to cover America’s bills for several months until the debt limit is raised or suspended again.
Persons: WASHINGTON Organizations: Democrats, Treasury Department
WASHINGTON (Reuters) - The fundraising arm of the Democratic Party boosted cash transfers to its Virginia state affiliate in August as the party seeks to hold on to the state’s governorship in a closely fought Nov. 2 election. REUTERS/Evelyn HocksteinA campaign finance disclosure filed on Monday showed the Democratic National Committee (DNC) gave nearly $700,000 last month to the Democratic Party of Virginia. That roughly equaled the sum the DNC had transferred to the state party in the prior six months. Former Virginia Governor Terry McAuliffe, a Democrat, is facing Republican businessman Glenn Youngkin in the gubernatorial election. Current Virginia Governor Ralph Northam, a Democrat, cannot seek re-election because of a state rule barring governors from serving consecutive terms.
Persons: Terry McAuliffe, Evelyn Hockstein, Glenn Youngkin, Joe Biden’s, McAuliffe, Ralph Northam, Phil Murphy, Jack Ciattarelli, Murphy, Gavin Newsom, Newsom Organizations: WASHINGTON, Democratic Party, REUTERS, Democratic National Committee, Democratic Party of Virginia, DNC, Former Virginia, Democrat, Republican, New, U.S . House, New Jersey Democratic, Republican National Committee, RNC, Democratic, Republicans, U.S, Federal, Commission Locations: Virginia, Arlington , Virginia, U.S, New Jersey, California
Mark Zuckerberg said he would avoid fact-checking political posts if Trump didn't impose heavy regulations, a new book says. Peter Thiel told an associate that Zuckerberg cut the deal during a meeting at the White House in 2019, the book claims. Zuckerberg denied that such a deal had been made, according to the book, saying the notion was "pretty ridiculous." During the meeting, Zuckerberg pledged to Kushner that he wouldn't fact-check political posts on Facebook as long as the Trump administration steered clear of regulating the platform, Thiel told a confidant, according to the excerpt. Last year, Facebook also confirmed to The Washington Post that though the fact-checking policy was officially announced in September 2019, Facebook formally put it in place in September 2018, prior to the conversation that Zuckerberg had with Thiel, Kushner, and Trump.
Persons: Mark Zuckerberg, Trump, Peter Thiel, Zuckerberg, Donald Trump, Jared Kushner, Max Chafkin, Kushner, Thiel, Chafkin, Twitter, Nick Clegg Organizations: White House, Facebook, Service, Zuckerberg, Trump, White, Silicon, The Intelligencer, PayPal, Capitol, Global Affairs, Communications, The Washington Post
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