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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
FILE PHOTO: An American Airlines Airbus A321-200 plane takes off from Los Angeles International airport (LAX) in Los Angeles, California, U.S. March 28, 2018. It took aim at American Airlines, the largest airline in the world, saying the alliance would cost consumers hundreds of millions of dollars. "Plain and simple: American Airlines and JetBlue's Northeast Alliance is anticompetitive." Shares of American Airlines closed down 2.8% at $19.76 while JetBlue was down 4.8% at $14.76. This is not a merger: American and JetBlue are – and will remain – independent airlines."
Persons: Mike Blake WASHINGTON, Trump, Rob Bonta, Robin Hayes, Hayes, Biden, Boston Logan, John F, Doug Parker, Parker, Diane Bartz, David Shepardson, Jon Stempel, Mark Porter, Steve Orlofsky, David Gregorio Our Organizations: American Airlines Airbus, Los Angeles International, REUTERS, U.S . Justice Department, American Airlines Group Inc, JetBlue Airways Corp, U.S . Transportation, American Airlines, JetBlue, DOJ, Justice Department, Kennedy, Newark Liberty, American, United Airlines, Delta Air Lines, of, The, America, US Airways, Thomson Locations: Los Angeles , California, U.S, Northeastern U.S, Boston, California, United States, LaGuardia, New York, Arizona , California, of Columbia , Florida , Massachusetts, Pennsylvania, Virginia, American, Washington
Concerns over Evergrande acted as a boiling point for markets trading near record highs, amid coronavirus concerns and sluggish economic growth. Taper fears have already roiled markets so far in September, and along with seasonally weak trends, have set the S&P 500 on course to snap a seven-month winning streak. The S&P 500 index traded substantially below its 50-day moving average, its first major breach in more than six months. Analysts say a breach of the index’s 200-day moving average is now in sight. The S&P 500 posted no new 52-week high and no new low, while the Nasdaq recorded 19 new highs and 24 new lows.
Persons: Wall, there’s, , Andre Bakhos, Taper, Bakhos, Hurricane Ida, decliners Organizations: Dow, Nasdaq, Federal, New Vines Capital, Dow Jones, Analysts, Apple Inc, Tesla Inc, Facebook, NYSE Locations: Bernardsville , New Jersey, Hurricane
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) Futures tracking the blue-chip Dow, which houses several economically sensitive stocks, jumped 1.1%, a day after the index tumbled 1.8% in its worst day since late-July. Interest rate-sensitive banking stocks also bounced, tracking a rise in Treasury yields. ET, S&P 500 e-minis were up 44 points, or 1.01%, and Nasdaq 100 e-minis were up 144 points, or 0.96%. The CBOE volatility index, known as Wall Street’s fear gauge, fell back from a four-month high hit on Monday.
Persons: Lehman, , Sagarika, Arun Koyyur Organizations: Dow, Nasdaq, Federal, Mizuho, McMoRan, Nucor Corp, Apple Inc, Tesla Inc, Facebook Locations: China, Freeport, Bengaluru
Signboards of MUFG Bank are seen in Tokyo, Japan April 3, 2018. REUTERS/Toru Hanai/FilesTOKYO (Reuters) -Mitsubishi UFJ Financial Group (MUFG) said it has agreed to sell the personal banking arm of its U.S. unit MUFG Union Bank to US Bancorp in a cash and stock deal worth $8 billion. MUFG Union Bank had around 300 branches as of the end of last year, with most of those retail branches on the West Coast of the United States, its website shows. It became a wholly owned unit of Mitsubishi UFJ in 2008, when the Japanese lender paid around $3.5 billion for the third it did not already control. MUFG Union Bank will keep its corporate and investment banking business and some administrative operations.
Persons: Toru Hanai, MUFG, Morgan Stanley Organizations: MUFG Bank, REUTERS, Mitsubishi UFJ Financial, MUFG, Bank, Bancorp, Bloomberg, MUFG Union Bank, Mitsubishi, Wall Locations: Tokyo, Japan, United States, Asia, West Coast, Wall Street
Jesse Benton worked as a campaign staffer for former Rep. Ron Paul, as well as Sens. In 2016, he was convicted of campaign finance crimes related to his role on the Ron Paul campaign. In an unsealed indictment, dated September 9, prosecutors allege Jesse Benton "conspired to illegally funnel thousands of dollars of foreign money from a Russian foreign national" into the campaign. In October 2016, Benton received a $100,000 wire transfer from the unnamed Russian national, the indictment states, promising him that he would get to "meet a celebrity" at a fundraiser in Philadelphia on September 22, 2016. The Russian national attended the fundraiser, according to the indictment, his travel to the United States facilitated by an alleged co-conspirator, Roy Douglas Wead, a conservative author.
Persons: Jesse Benton, Ron Paul, Rand Paul, Mitch McConnell, Trump, US Sen, Benton, Donald Trump, Roy Douglas Wead, Benton —, Sen, Mitch McConnell —, Wead Organizations: Business, Service, US, US Department of Justice, Russian, Prosecutors, Ritz, Carlton, Republican Locations: Sens, Russia, Philadelphia, Center City, United States
The NFT trading startup Sorare has closed Europe's largest-ever Series B funding round. SoftBank's Vision Fund 2 led the $680 million round, which values the company at $4.3 billion. Sorare, France's most valuable tech startup, allows users to collect and trade digital soccer cards. The company has brought in $680 million at a $4.3 billion valuation in a round led by SoftBank's Vision Fund 2. In May, Insider first reported that the company had held talks with SoftBank about a potential funding round.
Persons: Barcelona's Gerard Piqué, Atletico Madrid's Antoine Griezmann, Marcelo Claure, California's IVP, Hillhouse, Felix Capital, Sorare, it's, Nicolas Julia, Julia Organizations: SoftBank's Vision, Atletico Madrid's, SoftBank, Vision Fund, America, Bessemer Ventures, D1, Benchmark, Accel Locations: Paris, Felix
DeVere Group CEO Nigel Green correctly predicted in August that cardano would soon hit $3. He told Insider about his approach to crypto and his outlook for ethereum, XRP, and bitcoin. In August, Nigel Green, CEO of deVere Group, predicted that cardano's ADA token would climb to $3 in early September. "Things you should be looking at are, the purpose of the cryptocurrency, how long it has been in the market, market capitalization and its underlying solutions," he wrote. "According to most analysis, XRP could experience a breakout similar to that of cardano over the next few months," Green wrote.
Persons: Nigel Green, cardano, Green, Cardano, bitcoin, ethereum, Brad Garlinghouse, Elon, he's Organizations: DeVere, deVere, ETH, Labs
A COVID-19 booster shot that may protect against multiple variants is being tested in humans. A COVID-19 booster vaccine that could protect against multiple virus variants at once is being tested in humans for the first time. COVID-19 vaccines from Pfizer and Moderna use mRNA, which teaches our body how to make a protein that triggers an immune response, but it cannot self-replicate. Professor Ian Bruce, chair at the Manchester COVID-19 Research Rapid Response Group, said in a statement that future studies will examine GRT-R910's efficacy in other-vulnerable populations. On Friday, the Food and Drug Administration recommended an extra dose of Pfizer's COVID-19 vaccine for fully vaccinated Americans aged 65 and older, and for younger people at risk of severe illness.
Persons: Gritstone, Andrew Allen, Andrew Ustianowski, Andrew Clarke, Helen Clarke, Ian Bruce Organizations: Service, Pfizer, Moderna, US National Institute of Health, University of Manchester, Manchester University NHS Foundation Trust, Manchester COVID, Rapid, Food and Drug Administration
Evergrande is China's second-biggest property developer. Markets are concerned the debt crisis at Chinese property developer Evergrande could spread. US stock futures rallied on Tuesday after the debt crisis at giant Chinese property developer Evergrande sent equities tumbling the previous day. Its stock fell 0.44% Tuesday, building on a plunge of 10.24% the previous day, after S&P Global Ratings said a default is likely on those payments. Bitcoin was down 0.6% to $43,263, according to Bloomberg prices, on Tuesday after tumbling from above $47,000 the previous day as investors fled riskier assets.
Persons: Noel Celis, Dow Jones, Lehman, Goldman Sachs, Steen Jakobsen, Bitcoin Organizations: Getty, Dow, Nasdaq, Analysts, Brent, Saxo Bank, Treasury, Bloomberg Locations: Beijing, Hong Kong, Europe
And, when a booster of the Johnson & Johnson COVID-19 vaccine is given, the strength of protection against COVID-19 further increases." "The Johnson & Johnson single-shot COVID-19 vaccine showed vaccine effectiveness against COVID-19-related hospitalizations at 86% for participants younger than 60 years, and 78% for those 60 years and older," the company said. Barouch, who has worked with Janssen to test the vaccine but who was not directly involved in the three studies, said people who got the Johnson & Johnson vaccine should be reassured by the data. Johnson & Johnson has said it will submit all of this data to the FDA for potential consideration for adding a booster dose, and perhaps for consideration to authorize a two-dose regimen. It circulated widely in South Africa but has been outcompeted in the US by Delta, which does not appear to escape immune protection as well.
Persons: Johnson, J's Janssen, Janssen, Mathai, Johnson COVID, Dan Barouch, Beth Israel Deaconess, Barouch, J's, that's, Dr, Sanjay Gupta Organizations: CNN, Johnson, COVID, Janssen Research & Development, US Food and Drug Administration, US Centers for Disease Control, for Virology, Vaccine Research, Moderna, Pfizer, FDA, Get CNN, CNN Health, Delta Locations: United States, Moderna's, South Africa
Japan's MUFG to sell part of U.S. unit to US Bancorp for $8 bln
  + stars: | 2021-09-21 | by ( )   time to read: +2 min
Signboards of MUFG Bank are seen in Tokyo, Japan April 3, 2018. REUTERS/Toru Hanai/FilesTOKYO, Sept 21 (Reuters) - Mitsubishi UFJ Financial Group (MUFG) (8306.T) said it has agreed to sell the personal banking arm of its U.S. unit MUFG Union Bank to US Bancorp (USB.N) in a cash and stock deal worth $8 billion. MUFG Union Bank had around 300 branches as of the end of last year, with most of those retail branches on the West Coast of the United States, its website shows. MUFG Union Bank will keep its corporate and investment banking business and some administrative operations. Japanese parent MUFG also owns a fifth of Wall Street investment bank Morgan Stanley (MS.N).
Persons: Toru Hanai, MUFG, Morgan Stanley, Muralikumar Anantharaman, Louise Heavens Organizations: MUFG Bank, REUTERS, Mitsubishi UFJ Financial, MUFG, Bank, US Bancorp, Bancorp, Bloomberg, MUFG Union Bank, Mitsubishi, Wall, Tokyo, Thomson Locations: Tokyo, Japan, United States, Asia, West Coast, Wall Street
David Orrell/CNBC/NBCU Photo Bank/NBCUniversal/Getty ImagesJim Chanos holds a short position against US casino stock Wynn, saying it's 50% overpriced. The US casino's stock was last trading around $82 per share on Tuesday, but Chanos said it's worth around $40. Chanos, the founder of Kynikos Associates, told CNBC Monday he has taken a short position in the US casino stock, which he believes is 50% overpriced. Wynn and other casino operators are supposed to make rebids for their casino licenses, which expire in June 2022. Read More: Meet the 8 strategists calling for a stock market correction by the end of the year as Wall Street turns bearish.
Persons: David Orrell, Jim Chanos, Chanos, Wynn, we've, Read Organizations: CNBC, NBCU, Wynn, US, Kynikos Associates, Kong, Wynn Macau, Wall Street, JPMorgan Locations: Macau, Hong, Hong Kong
Hollis Johnson/Business InsiderJPMorgan's market guru Marko Kolanovic said he's bullish on stocks despite the Evergrande crisis. Kolanovic and colleagues backed the S&P 500 to hit 4,700 by year-end, a rise of 8% from Monday's closing price. They backed the US S&P 500 to rise to 4,700 by the end of the year. The S&P 500 fell as much as 3% on Monday before paring its losses. "We remain constructive on risk assets and last week upgraded our S&P 500 price target, given expectations of a reacceleration in activity as the delta wave fades and better than expected earnings."
Persons: Marko Kolanovic, Hollis Johnson, he's, Kolanovic, Dow Jones, Monday's, Saxo, Peter Garnry, Garnry Organizations: Nasdaq Locations: China
But nearly all of the popular electric cars have one shared trait: They're passenger cars. The ElectraMeccanica Solo. The ElectraMeccanica Solo. On the personal side, the benefits of an affordable electric car are most apparent. The ElectraMeccanica Solo.
Persons: Jerry Kroll, Kroll, Paul Rivera, you've, Rivera, ElectraMeccanica, it's, Rivera foresees, Tesla, we've Organizations: Service, Tesla Locations: China, Mesa , Arizona, Oregon
President Macron wants to delay an EU-Australia trade deal and EU-US talks in response, reports said. The latest sign was a series of reports that French President Emmanuel Macron is seeking to derail a planned EU-Australia trade deal to show its displeasure. "So it is unthinkable to move forward on trade negotiations as if nothing had happened with a country in which we no longer trust." Bernard Lange, chair of the European Parliament's trade committee, said trade talks were now "much more complicated." Australia's trade minister Dan Tehan meanwhile insisted that the rupture in relations with France would not affect the outcome of the trade deal.
Persons: Macron, Emmanuel Macron, Joe Biden, Scott Morrison, Clément Beaune, Bernard Lange, Dan Tehan Organizations: EU, Service, US, Guardian, Politico, Financial Times, Trade, Technology Council, European Commission, Washington Post, Australia's, UN, Assembly, Sky News Australia, Reuters Locations: France, Australia, EU, French, The, New York, Europe
Master's degrees can be a timely and costly investment for an early or mid-career professional. It's worth running the numbers to see if your investment in the program will truly pay off over the long haul. At HerMoney, we did a little leg work for you to help you determine if a master's degree is the right move for your educational and career future. There's also a master's degree in law, beyond just getting a JD, known as an LLM. Thankfully, there are many teacher student loan forgiveness programs, along with public service loan forgiveness.
Persons: that's, you'd, There's Organizations: Business, Service, National Center for Education Statistics, US Bureau of Labor Statistics, Education, Healthcare, US Labor, Statistics, American Association of Colleges of Nursing, Harvard Law, US News, Prodigy Finance, National Council of, Business Administration Locations: HerMoney
Wang Ying/Xinhua via Getty ImagesUS stocks were higher on Tuesday as investors tried to recover from the massive sell-off sparked by Evergrande. Investors are also looking to the two-day meeting of the Federal Open Market Committee. US stocks rebounded on Tuesday as investors recovered from the massive sell-off sparked by beleaguered Chinese developer Evergrande and looked to the Federal Reserve's two-day Federal Open Market Committee meeting beginning today. Evergrande, China's second-largest property developer, has more than $300 billion in liabilities and could miss key interest payments due Thursday. Fears about Evergrande collapsing and hurting the broader Chinese economy sent global stocks sliding on Monday.
Persons: Wang Ying, selloff, George Ball, Sanders Morris Harris, China's, Ball, Jerome Powell, Powell, Jackson, WeWork, Brent Organizations: Getty, Evergrande, Federal, Market, Bell, Dow Jones, BlackRock Investment Institute, BlackRock, SPAC BowX, West Texas Locations: Xinhua
New York (CNN Business) US stocks are rebounding Tuesday, after concerns about potential contagion from Chinese real estate giant Evergrande's debt crisis led to the worst session for the market in months. After weeks without a clear driver for markets, Evergrande's trouble came at just the right time to trigger a massive selloff. Analysts have long said a correction of prices was necessary given how long the recovery rally has been going on. But after Monday's steep drop, investors are already taking a breather and Wall Street opened with green arrows across the board. Yields fell and prices rose Monday as investors rushed into the safety of Treasuries.
Persons: Dow INDU, Read Organizations: CNN Business, Analysts, Treasury Locations: York
Visa introduced a bunch of tiered credit card rewards. As credit card spending increases, Visa can use the new rewards to maintain its growth trajectory. Visa introduced a slew of tiered credit card rewards, per a press release. They also build on existing issuer credit card perks, which makes Visa cards more enticing to spend with and makes Visa an attractive partner for issuers. They also build on existing issuer credit card perks, which makes Visa cards more enticing to spend with and makes Visa an attractive partner for issuers.
Persons: Cardmembers, cardholders, Nilson Organizations: Visa, Intelligence, Payments & Commerce, Insider, Mastercard, Commerce Locations: Skillshare
Amazon is lobbying the US government to legalize cannabis, the company announced Tuesday. The company ended pre-employment drug testing earlier this year and said it supports national legalization. Amazon's warehouse employees have a high turnover rate, and national legalization could help with hiring. Amazon first announced support for federal cannabis legalization back in June. Notably, Amazon said on Tuesday that part of the reason it's pushing for legalization is to make hiring a bit easier.
Persons: Dave Clark, we've, Clark, Amazon, We've, Beth Galetti, Ben Gilbert Organizations: Amazon, Service, United, Marijuana, Reinvestment, Cannabis Administration, Opportunity, New York Times, Twitter Locations: United States
The coronavirus pandemic has now killed more Americans than the 1918-19 influenza pandemic did. The 1918-19 flu infected about 25% of Americans and killed an estimated 0.65%, with 675,000 deaths. COVID-19 has infected more than 12% of Americans and killed about 0.2%, with 676,000 deaths. So although the total number of Americans who died in each crisis is about the same, because of the population difference, influenza infected about one-quarter of Americans from 1918-19, and killed 0.65%. During the influenza pandemic, World War I contributed to the spread of the virus, killing healthy young people in mass quantities without the aid of modern medicine.
Persons: pandemics Organizations: Service, Associated Press, US Centers for Disease Control, FDA Locations: COVID
The Evergrande-induced stock market sell-off on Monday could be reversed as soon as this week, according to Fundstrat's Tom Lee. Lee pointed to technicals, contained treasury yields, and retail sentiment as to reasons why stocks will quickly bounce back. Investors should take advantage of Monday's stock market decline caused by the Evergrande debt crisis and buy the dip, according to Fundstrat's Tom Lee. The AAII sentiment also showed a large jump in negative sentiment, Lee highlighted. The 100-day moving average seems to be a place where the intraday reversal took place, and since March 2020, it has been a key level," Lee said.
Persons: Tom Lee, Lee, China's, didn't, Lehman Organizations: Bell, Investors, US Treasury, Treasury Locations: Fundstrat
President Biden: US is entering a new era of diplomacy
  + stars: | 2021-09-21 | by ( )   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPresident Biden: US is entering a new era of diplomacyPresident Biden speaks at the U.N. General Assembly where he discusses issues he sees arising and the U.S. stance with allies and partners worldwide.
Persons: Biden Organizations: General Assembly Locations: U.S
Rep. Tony Gonzalez defended US Border Patrol agents who were filmed whipping at Haitian migrants. The Texas Republican said the agents were "doing God's work fighting everything they can." Haitian migrants told reporters that they were forced to leave the camp to find water and food for themselves and their families, including many young children. White House press secretary Jen Psaki on Tuesday called the images of the Border Patrol agents whipping and yelling at barefoot migrants carrying bags of food "horrific" and "horrible." The US government has begun deporting thousands of Haitian migrants back to Haiti, even as the Haitian government pleads for a "humanitarian moratorium" on such removals.
Persons: Tony Gonzalez, Gonzalez, Jen Psaki, Jovenel Moïse, There's, can't, Ilhan Omar, Alexandria Ocasio, Cortez, Omar Organizations: US Border Patrol, Texas Republican, Department of Homeland Security, Service, CNN, Border Patrol, Al, United Nations, Democratic Locations: Texas, Mexico, Del Rio , Texas, Del Rio, Al Jazeera, Haiti, Rio Grande, Haitian, Alexandria
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