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☆ Biden hails ‘monumental’ steps toward easing marijuana rules as rescheduling process moves ahead
▼ + stars: | 2024-05-16 | by ( Kevin Liptak | ) edition.cnn.com time to read: +3 min

Biden has already pardoned federal marijuana offenders and urged individual state governors to take similar steps. On Thursday, the Justice Department is taking the next formal step in the process of easing federal restrictions on cannabis, according to a senior administration official. The rescheduling proposal will appear publicly in the Federal Register, opening it up for a 60-day public comment period. While the process for rescheduling marijuana is lengthy, the president’s aides believe the step is a necessary one to place the drug in a more appropriate category. Biden’s advisers also privately acknowledge the potential political benefit of loosening rules on marijuana, which has gained wider cultural acceptance over the last decade.

Persons: Joe Biden’s, ” Biden, “, Biden, I’m, ” Organizations: Washington CNN, Department, Justice, Federal, Drug, Justice Department

☆ Donald Trump explains his militaristic plan to deport 15-20 million people
▼ + stars: | 2024-05-01 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

Trump repeated false claims that many migrants are former prisoners or have been institutionalized in their home countries. John Moore/Getty ImagesTrump promised mass deportation in 2016 tooWhile he did not employ an Eisenhower-like effort the first time he was president, Trump is bringing the pledge back. Trump told Time he would target between 15 million and 20 million people who he said are undocumented in the US. Pew Research Center estimated the number of undocumented migrants in the US was around 10.5 million in 2021. As of 2021, it estimated about 3% of the US population and about 22% of the foreign-born population were undocumented.

Persons: Donald Trump, Trump, “, ”, ’, Eisenhower, John Moore, Getty Images Trump, Joe Biden, ” Trump, Stephen Miller, We’re Organizations: CNN, Capitol, Historians, Getty Images, Eisenhower, Trump, Pew Research Center, National Guard, Guard, The New York Times, Supreme Locations: reclassifying, Mexico, Rio, El Paso , Texas, China

☆ Pot stocks soar on report DEA will ease restrictions on cannabis
▼ + stars: | 2024-04-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Cannabis stocks soared on Tuesday after the AP reported that the DEA will soon reclassify marijuana. The move would ease restrictions on cannabis and acknowledge that it has medicinal benefits. According to the report, the DEA decision would be sent to the White House Office of Management and Budget for review. AdvertisementCannabis stocks soared on Tuesday after the AP reported that the US Drug Enforcement Administration is on the verge of reclassifying marijuana. Shares of Canopy Growth soared 37%, Village Farms stock soared 20%, and the AdvisorShares Pure Cannabis ETF jumped 18%.

Persons: — Organizations: AP, White, Office of Management, Service, US Drug, Village, Cannabis

☆ Biden administration plans to reclassify marijuana, easing restrictions nationwide
▼ + stars: | 2024-04-30 | by ( Julie Tsirkin | Monica Alba | ) www.cnbc.com time to read: +7 min

"DOJ continues to work on this rule," a Biden administration official said. "No one should be jailed for using or possessing marijuana," the president said during the speech. "Reclassifying marijuana as a Schedule III drug sends the message that marijuana is less addictive and dangerous now than ever before. US President Joe Biden speaks during the White House Correspondents' Association (WHCA) dinner at the Washington Hilton, in Washington, DC, on April 27, 2024. Nearly six in ten Americans say that marijuana should be legal for medical and recreational purposes, according to a Pew Research poll last month.

Persons: John Tlumacki, Biden, Joe Bidens, Tom Williams, Joe Biden, Barack Obama's, Jim Cole, Obama, Cole, Kevin Sabet, Brendan Smialowski, Brad Horrigan Organizations: Delta, Trade, Boston Globe, NBC, Drug, Department of Health, Human Services, DOJ, Biden, Internal Revenue, Justice's, DC Marijuana Justice, CQ, Inc, Getty, State, National Cannabis Roundtable, NBC News, Smart, Marijuana, Obama Administration, White, Correspondents ' Association, Washington Hilton, AFP, Management, CRA, Pew Research, Florida Supreme, Tribune, Service Locations: Wareham, deducting, New York, California, Washington ,, Florida

One of the architects of that plan for a Trump second term said as much in a video last year for the Heritage Foundation. Reissuing Schedule F is part of a roadmap, known as Project 2025, drafted for a second Trump term by scores of conservative groups and published by the Heritage Foundation. The new rules would not fully block reclassifying workers in a second Trump term. Greene said she worries for federal workers who might face the same choice in a second Trump term. The project includes a personnel database for potential hires in a second Trump administration.

Persons: Donald Trump, it’s, —, Trump, Joe Biden, Donald Moynihan, Georgetown University's, ” Donald Moynihan, ” Moynihan, “ It’s, ”, Russell Vought, “, you’re, Doreen Greenwald, Moynihan, Kenneth Baer, Barack Obama, ” Kenneth Baer, Peter Orszag, Pete Souza, Robert Shea, Eva Shea, George W, Bush, Laura Bush, Tina Hager, ” Biden, Baer, George Frey, ” Trump, Max Stier, Verna Daniels, ” Daniels, Catherine Greene, ” Greene, Tom Bewick, NIFA, ” Bewick, we’ll, Greene, Biden, “ We’ve, He’s, Hillary Clinton, he’d, James Comey, Bill Barr, Barr, Jeffrey Clark, Clark, Mark Meadows, Stephen Miller, Peter Navarro, he’ll Organizations: CNN, United, Republican, Democratic, Trump, ”, Georgetown, Georgetown University's McCourt School, Public, Georgetown University, Heritage Foundation, Management, Budget, of Justice, FBI, Environmental Protection Agency, Vought, National Treasury Employees Union, OMB, White, Personnel Management, Land Management, Department of Agriculture, Kansas City, Partnership for Public Service, Government, Office, GAO, Economic Research Service, National Institute of Food, Agriculture, USDA, National Institute for Food, NIFA, Applied Economics Association, BLM, Getty, Department of Justice, Justice Department, Univision, Justice, Department, U.S . Justice, Center, Washington Post, National Security and Intelligence, of Homeland Security, of Education and Commerce, Federal Communications Commission, Federal Trade Commission Locations: United States, Washington, Georgetown, , Colorado, DC, Kansas, Colorado, Virginia, America, Grand Junction, Washington ,, New York City, New York, Georgia

☆ Net neutrality is back as FCC votes to regulate internet providers
▼ + stars: | 2024-04-25 | by ( Brian Fung | ) edition.cnn.com time to read: +6 min

The net neutrality regulations adopted Thursday by the Federal Communications Commission prohibit providers such as AT&T, Comcast and Verizon from selectively speeding up, slowing down or blocking users’ internet traffic. And for the first time, the FCC said it would step in to override state or local policies that conflict with the federal net neutrality rule. “The Title II authority will ensure that broadband providers are properly overseen by the FCC like all telecommunications services should be. “These 400-plus pages of relentless regulation are proof positive that old orthodoxies die hard,” said Jonathan Spalter, CEO of USTelecom, a trade association representing internet providers. As a result, the outcome of a legal challenge to the FCC’s net neutrality rules could have potentially broad ramifications for other US regulatory bodies, not just the FCC.

Persons: Trump, Jessica Rosenworcel, Rosenworcel, ” Rosenworcel, ”, Justin Brookman, Biden, Jonathan Spalter, Brendan Carr Organizations: Washington CNN, Federal Communications Commission, Comcast, Verizon, Democratic, FCC, “, Consumer, Trump, Republican, Communications Locations: unwound, Washington, America

WASHINGTON (AP) — Vice President Kamala Harris and rapper Fat Joe led a White House discussion Friday on easing marijuana penalties, with Harris saying it’s “absurd” that the federal government classifies marijuana as more dangerous than fentanyl, the synthetic opioid blamed for tens of thousands of deaths annually the United States. Fat Joe, a Grammy-nominated artist and philanthropist whose real name is Joseph Cartagena, moderated a subsequent closed-door discussion that included Kentucky Gov. President Joe Biden has issued pardons to thousands of people for federal marijuana possession and commuted long sentences handed down for nonviolent drug offenses. “Marijuana is considered as dangerous as heroin and more dangerous than fentanyl, which is absurd. Cartagena opened the roundtable by saying he's hot on the issue of price transparency in health care “but, today, when the vice president calls me, I stop everything."

Persons: Kamala Harris, Joe, Harris, it’s, Joseph Cartagena, Andy Beshear, Joe Biden, Beshear, Biden, “, ”, ” Biden Organizations: WASHINGTON, —, Kentucky Gov, Gallup, of Health, Human Services, Justice, Drug Locations: United States, California, Kentucky, U.S, America . U.S, Milwaukee, Cartagena

☆ ‘Mary Poppins’ Gets New Age Rating in Britain for Racist Language
▼ + stars: | 2024-02-27 | by ( Derrick Bryson Taylor | ) www.nytimes.com time to read: +1 min

“Mary Poppins” includes two uses of an offensive racial slur to describe an Indigenous group in South Africa. It is first heard when Admiral Boom asks Michael, a child, if he is going on an adventure to defeat said group. Admiral Boom repeats the slur during a chimney sweeps dance sequence when he shouts that he is being attacked. The film was originally rated “U,” for Universal, upon its release in 1964, and again in 2013 for a theatrical release, the B.B.F.C. When it was resubmitted in February for another theatrical release, it was reclassified as PG.

Persons: “ Mary Poppins, “ Mary Poppins ”, Admiral Boom, Michael Organizations: British, of, Universal Locations: Britain, South Africa

☆ Kim Jong Un has broken with decades of North Korean policy – does it mean he’s planning for war?
▼ + stars: | 2024-02-16 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +14 min

The two sides have been cut off from each other since 1953, when an armistice ended the Korean War, and remain technically at war. Yoon and Biden have sharpened their countries’ deterrence plans and coordination in the face of North Korea’s threats and weapons development. If anything, some analysts believe, North Korea’s public statements signal that North Korea is abandoning its reunification policy in pursuit of peace on the peninsula. Vladimir Smirnov/AFP/Getty ImagesAn ‘emboldened’ KimThe North Korean leader may also feel more confident about his arsenal and his options as he watches a shifting global landscape. “Kim Jong Un is wary of a full-scale provocation by the South Korean military disguised as a military exercise and has vowed to occupy South Korean territory without hesitation,” said Lim in Changwon.

Persons: Kim Jong, South Korea –, ” Kim, ”, Kim, ’, Robert Carlin, Siegfred Heckler, Chul Lim, “, Joe Biden, Donald Trump, Edward Howell, Yoon Suk Yeol, Ayse, ” He’s, Yoon, Biden, Seoul . Kim, Trump, Lim, “ That’s, Kim Jong Un, Vladimir Putin, Vladimir Smirnov, ’ Kim, “ Kim Jong, …, Rachel Minyoung Lee, Howell, “ Kim Jong Un, Lee, Japan – Organizations: CNN, South, Korean Central News Agency, Reuters, North Korea Research Center, University’s Institute, Far Eastern, University of Oxford, Japan, Ewha Womans University, US, North, Russia's Vostochny, Getty, Stimson, –, White, United Nations Security Council, West, South Korean Defense Ministry, ”, Trump, North Korean Locations: Ukraine, Gaza, North Korea, South Korea, Korea, Republic of Korea, Kim, Washington, Seoul, Tokyo, United States, Korea’s, Changwon, Pyongyang, Russia, United Kingdom, Japan, Guam, Gon, Seoul ., Russian, Russia's, China, Iran, denuclearization, Western, North, Moscow, Beijing, Oxford, Jeju, South, “

☆ Opinion: Here’s who won’t be Trump’s VP
▼ + stars: | 2024-01-29 | by ( Opinion Dean Obeidallah | ) edition.cnn.com time to read: +6 min

CNN —The Donald Trump vice presidential reality selection show is heating up, with pundits laying out lists of possible people Trump might choose. They range from South Carolina GOP Sen. Tim Scott, to Ohio Sen. JD Vance, to even former Fox News host Tucker Carlson. Trump won’t select a running mate who will help expand his voting base, as he did in 2016 when he named then-Indiana Gov. Pablo Martinez Monsivais/APWith those type of schemes, Trump needs a vice president who will not push back like Pence did. In fact, there’s plenty of time for the other contestants vying to be Trump’s VP pick to debase themselves with public displays of affection.

Persons: Dean Obeidallah, Donald Trump, Trump, South Carolina GOP Sen, Tim Scott, Ohio Sen, JD Vance, Tucker Carlson, Mike Pence, Pence, Joe Biden’s, Biden, didn’t, Trump’s, ”, —, Elise Stefanik, Pablo Martinez Monsivais, policeofficers, ” Stefanik, Liz Cheney, Scott, Nikki Haley —, “, Kari Lake, won’t Organizations: CNN, South Carolina GOP, Fox News, Dean Obeidallah CNN, Trump, Indiana Gov, Foreign Affairs, GOP, Capitol, Electoral, of Justice, “, House Republican, Team Trump New, New York GOP, Twitter Locations: South, Ohio, Team Trump New Hampshire, Manchester, NH, New York, New Hampshire, Arizona, United States

HARRISONBURG, Va. (AP) — Kaedin Robinson’s toe barely touched the goal line before the football squirted out, scoring the winning touchdown in overtime as Appalachian State beat previously unbeaten and 18th-ranked James Madison 26-23 on Saturday. Aguilar was 28 for 46 passing for 318 yards and three touchdowns with an interception for Appalachian State (7-4, 5-2). Elijah Sarratt had eight catches — including two that helped force overtime — for 128 yards and a touchdown for James Madison. Appalachian State remained in the hunt for the division title if the Dukes can beat Coastal Carolina next week. Appalachian State hosts Georgia Southern.

Persons: James, James Madison, Camden Wise, Joey Aguilar, Robinson, James Madison's, General, Aguilar, Jordan McCloud, Elijah Sarratt, Dukes, McCloud, Eli Wilson, Wilson, JMU, JMU’s, Jason Miyares Organizations: Appalachian State, James Madison, Camden, Dukes, NCAA, Virginia, Football, Mountaineers, Sun, Coastal Carolina, AP, James, Coastal, Georgia Southern Locations: HARRISONBURG, Va, Appalachian, JMU, Sarratt, Virginia, Coastal Carolina

WASHINGTON (AP) — The Federal Communications Commission has enacted new rules intended to eliminate discrimination in access to internet services, a move which regulators are calling the first major U.S. digital civil rights policy. FCC Chairwoman Jessica Rosenworcel said that Congress required the agency to adopt rules addressing digital discrimination, through bipartisan infrastructure legislation passed at the start of the Biden administration. Poorer, less white neighborhoods were found to have received lower investment in broadband infrastructure and offered worse deals for internet service than comparatively whiter and higher-income areas. It is simply not plausible that we could prevent and eliminate digital discrimination by solely, solely addressing intentional discrimination,” said fellow commissioner Geoffrey Starks. President Joe Biden has said the investments in the bipartisan infrastructure law are meant to connect every U.S. household to quality internet service by 2030 regardless of income or identity.

Persons: Jessica Rosenworcel, Biden, ” Rosenworcel, ”, Nicol Turner Lee, Brendan Carr, “ It’s, Carr, Geoffrey Starks, “, Trump, Joe Biden, Christopher Ali, “ That’s, Ali, ” Ali, ” ___ Matt Brown Organizations: WASHINGTON, Federal Communications Commission, FCC, Associated Press, Center for Technology Innovation, Brookings Institution, National Cable and Telecommunications Association, Free Press, Pennsylvania State University Locations: U.S, “

☆ Why Thailand's having second thoughts about decriminalizing cannabis
▼ + stars: | 2023-09-29 | by ( Heather Chen | ) edition.cnn.com time to read: +11 min

Little more than a year after cannabis decriminalization, following an election that saw a more conservative coalition government come into power, there are signs Thailand’s laws on cannabis could be rewritten once again. Most cannabis dispensaries like his he says, have been responsible and diligent from the start in checking buyers’ IDs and educating customers about cannabis rules. “Thousands of cafes, stores, and other cannabis businesses have sprouted and hundreds of millions of dollars are being spent by tourists in a short amount of time,” Zaytsev said. The debate comes just as the quality of domestically produced cannabis in the country was improving, she added. “The quality of Thai cannabis has gotten better and better.

Persons: “, ” Iemvijan, –, Nitikrist Attakrist, ” Attakrist, Chiang Mai, Srettha Thavisin, ” Thavisin, Iemvijan, Cannabis, ”, Wisawa Mcintyre, Anutin Charnvirakul, Athit Perawongmetha, hasn’t, Ley Singdam, Ley, ” Ley, Kitty Chopaka, Chopaka, Michael Zaytsev, LIM, ” Zaytsev, Gloria Lai, ” Lai, ” “, Thavisin, Manan Vatsyayana Organizations: CNN, Thai, Bloomberg, Thailand’s Public, Thai Health, Staff, Reuters Observers, ” Farmers, Thais, International Drug Policy Consortium, Bhumjaithai Party, Getty Locations: Thai, Bangkok, Thailand, Southeast Asia, San, Thonglor, Phuket, ‘, ”, Athit, New York, Asia, Singapore, Indonesia, AFP

☆ McDonald's franchisee group pushes back against 'detrimental' fee hike
▼ + stars: | 2023-09-25 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

McDonald's is increasing its royalty fee from 4% to 5% of gross sales for select franchisees. AdvertisementAdvertisementMcDonald's decision to increase its royalty fee for the first time in 30 years is sparking a backlash from a key franchisee advocacy group representing about 1,000 McDonald's franchisees. AdvertisementAdvertisementThe email was sent after McDonald's told operators and employees it plans to increase its monthly royalty fee, formerly called a service fee, from 4% to 5% of gross sales. McDonald's told Insider on Monday that the "claim that McDonald's is getting rid of services simply isn't true." The royalty fee hike comes as McDonald's plans to increase its new unit growth.

Persons: —, McDonald's, NOA, Joe Erlinger Organizations: Service, National Owners Association, CNBC

☆ Cannabis ETFs are off to a strong September. Will the buzz last?
▼ + stars: | 2023-09-09 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +3 min

"We've seen most cannabis ETFs rally over 30% since the news broke last week on this recommendation," Amplify ETFs CEO Christian Magoon told CNBC's Courtney Reagan on "ETF Edge" on Wednesday. The Roundhill Cannabis ETF (WEED) has soared nearly 71% since the announcement, while the AdvisorShares Pure US Cannabis ETF (MSOS ) and AdvisorShares Pure Cannabis ETF (YOLO) have jumped 64% and 45%, respectively. "Consumer packaged goods and pharmaceutical companies are going to be able to now look at these cannabis companies as M&A targets to partner with them." "The great thing about the ETF industry is there's a lot of opportunity," Lydon said in the same interview on Wednesday. Lydon pointed out that Amplify ETFs holds a great "first mover advantage" with its pair of cannabis-based funds.

Persons: Christian Magoon, CNBC's Courtney Reagan, Magoon, marijuana's, Tom Lydon, Lydon Organizations: Cannabis ETF, U.S . Department of Health, Human Services, HHS, DEA, Cannabis, VettaFi Locations: YOLO

☆ Stocks making the biggest premarket moves: Dollar General, Salesforce, Palantir and more
▼ + stars: | 2023-08-31 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Check out the companies making the biggest moves before the bell:Dollar General — The discount retailer tumbled 15.3% after reporting second-quarter earnings per share of $2.13, missing the StreetAccount consensus estimate of $2.47. Revenue also missed, coming in at $9.80 billion versus the $9.93 billion expected. Campbell Soup — Shares added about 1% after the company reported revenue of $2.07 billion, beating the $2.06 billion expected from analysts polled by Refinitiv. Second-quarter adjusted earnings per share came in at 31 cents, versus the 22 cents expected from analysts polled by Refinitiv. However, its revenue guidance for the third quarter of $2.74 billion to $2.76 billion fell short of the $2.79 billion expected from analysts, per StreetAccount.

Persons: Campbell, Shopify, Morgan Stanley, Salesforce, Goldman Sachs, Cronos, Tilray, Okta, SkyWest, Raymond James, Refinitiv, —, Jesse Pound, Alex Harring Organizations: Revenue, Refinitiv, UBS — U.S, UBS, Cronos, Tilray, U.S . Department of Health, Human Services, Arista Networks, Citi, Arista, postmarket Locations: Austin , Texas, Swiss

☆ US health officials look to move marijuana to lower-risk drug category
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Tom Brenner/Pool/File Photo Acquire Licensing RightsAug 30 (Reuters) - The U.S. Department of Health and Human Services (HHS) has recommended easing restrictions on marijuana, a department spokesperson said on Wednesday, following a review request from the Biden Administration last year. Nearly 40 U.S. states have legalized marijuana use in some form, but it remains completely illegal in some states and at the federal level. The scheduling recommendation for marijuana was provided to the Drug Enforcement Agency (DEA) on Tuesday as part of President Biden's directive to HHS, the spokesperson said. "As part of this process, HHS conducted a scientific and medical evaluation for consideration by DEA. DEA will now initiate its review," a DEA spokesperson said.

Persons: Rachel Levine, Tom Brenner, Biden, Biden's, Karine Jean, Pierre said, Cannabis, George Archos, Sourasis Bose, Mrinalika Roy, Shilpi Majumdar, Shounak Dasgupta, Shailesh Organizations: Department of Health, Human Services, Health, Education, Labor, Capitol, REUTERS, U.S . Department of Health, Drug Enforcement Agency, HHS, DEA, Marijuana, Department of Justice, House Press, Tilray Brands, Cronos, Verano Holdings, Thomson Locations: Washington , U.S, U.S, United States, Canada, North America, Bengaluru

Beneath the trimmed flower is a tray collecting shake, cannabis flower that has naturally broken down through handling. Marijuana is currently a Schedule I drug under the Controlled Substances Act, meaning it's deemed to have no currently accepted medical use and a high potential for abuse. The news sent shares of several cannabis companies, including Canopy Growth , Tilray Brands and Cronos Group , jumping Wednesday. "Certainly, moving cannabis off of Schedule 1 is the right decision and long overdue," Rea said in a statement. "Though a full descheduling would be preferred and likely most appropriate for cannabis, we welcome smart decisions and progress towards full legalization and regulation in the legal cannabis industry."

Persons: James Romano, Patrick Rea, Rea Organizations: U.S . Department of Health, Human Services, Drug, Administration, CNBC, Wednesday, Marijuana, Tilray Brands, Cronos, Bloomberg, HHS, DEA, Poseidon Garden Ventures Locations: Medway, U.S

☆ Britain's Cleverly expects to meet Chinese vice president this week
▼ + stars: | 2023-05-02 | by ( Sachin Ravikumar | Thomson Reuters | Sachin Ravikumar Is A Correspondent For Reuters In London Covering General News Across The Uk. Over Nine Years At Reuters | ) www.reuters.com time to read: +2 min

LONDON, May 2 (Reuters) - British Foreign Secretary James Cleverly expects to meet China's Vice President Han Zheng when foreign leaders visit London for King Charles's coronation, a rare meeting between senior government officials during a low point in UK-China relations. "I suspect that I will," Cleverly told BBC Radio on Tuesday when asked if he would be meeting Han. He said he would discuss a range of subjects including areas where Britain has "points of criticism". Cleverly, who hopes to visit China this year, suggested he would speak to Han about some of those concerns. That approach faces opposition from some within Britain's governing Conservative Party who have argued for an even tougher stance against China, including by reclassifying the country as a "threat" instead of a "systemic competitor".

☆ Western Alliance stock surges as results allay deposit fears
▼ + stars: | 2023-04-19 | by ( Noel Randewich | ) www.reuters.com time to read: +3 min

April 19 (Reuters) - Shares of Western Alliance Bancorp (WAL.N) surged 24% on Wednesday after the U.S. regional bank posted stronger-than-expected earnings and said its deposits had stabilized, helping allay fears that last month's banking crisis could envelop more lenders. Wedbush Securities raised its rating on Western Alliance to "outperform" from "neutral" and added the bank to its "Best ideas list", among stocks including Apple (AAPL.O) and Microsoft (MSFT.O). Western Alliance's results soothed concerns about the stability of regional banks following worst U.S. banking crisis since 2008. The rally in Western Alliance following its report stood out among several regional banks that have posted quarterly results this week. Western Alliance's stock remains down over 40% from early March, before Silicon Valley Bank's collapse.

☆ Western Alliance's stock surges as results allay deposit fears
▼ + stars: | 2023-04-19 | by ( Noel Randewich | ) www.reuters.com time to read: +3 min

"We are seeing positive news from a regional bank that was in the crosshairs of the whole crisis. Western Alliance's results soothed concerns about the stability of regional banks following worst U.S. banking crisis since 2008. The rally in Western Alliance following its report stands out among several regional banks that have posted their quarterly results this week. Citizens Financial Group Inc (CFG.N) was trading near flat after reporting a quarterly profit early on Wednesday that missed Wall Street's estimates. Western Alliance's stock remains down over 40% from early March, before Silicon Valley Bank's implosion.

☆ Chipotle, Starbucks and top chains spend millions to stop landmark state worker law
▼ + stars: | 2023-01-25 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +4 min

The council could raise the fast-food industry minimum wage as high as $22 an hour, versus a $15.50 minimum for the rest of the state. California’s fast-food industry has more than 550,000 workers. Less than 4% of restaurant workers nationwide are unionized. This makes it nearly impossible to organize workers at fast-food and retail chains with thousands of stores. If restaurant worker compensation increased by 60%, limited-service restaurant prices would jump by up to 22%, the study also found.

☆ Big Investors Expected to Scrap ‘Dark Green’ Labels on More EU Funds
▼ + stars: | 2023-01-10 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

SFDR rules require EU-marketed funds to be designated as one of three categories: “dark green” Article 9 funds, which aim for sustainability or decarbonization; “light green” Article 8 funds, which advance one or more environmental, social and governance objectives; and Article 6 funds, which don’t have any specific ESG-related objectives. Upgrades and downgrades in classifications typically occur with “similar frequency,” but since September, more than 80% of reclassifications have moved Article 9 funds to Article 8, analysts at Jefferies said in December. At the end of November, there were around $452 billion in Article 9 funds, nearly $4.2 trillion in Article 8 funds and $3.9 trillion in Article 6 ones. In November, BlackRock moved 16 funds representing around $26 billion to Article 8 from Article 9, but also retained 13 dark-green funds valued at about $13 billion. Another challenge is for fund managers to gather and report required ESG data—such as greenhouse-gas emissions, gender pay gaps and water use—for individual stocks and bonds in a fund.

☆ China will drop COVID restrictions and quarantines for visitors starting in January
▼ + stars: | 2022-12-26 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +2 min

Visitors to China will no longer be subject to strict COVID restrictions starting January 8. China is ending quarantine requirements for visitors, and will begin managing COVID as a Class B disease. Now, visitors will also no longer have to abide by previous COVID restrictions. China had clung to tight restrictions longer than many areas, battering the economy and angering citizens. As of December 19, there were 116,634 confirmed cases in China, according to the World Health Organization, with 28,493 new cases in the prior 24 hours.

☆ Mexico's America Movil to propose combination of share series
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: 1 min

MEXICO CITY, Nov 22 (Reuters) - Mexican telecommunications giant America Movil will propose reclassifying three of its share series to shareholders, the company said Tuesday. The "AA," "A" and "L" share series would become part of the company's "B" series, it said in a filing. The change would require amending the company's bylaws and will be subject to regulatory authorization, America Movil said. Reporting by Kylie Madry, Editing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

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