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☆ A 'deeply misguided' political belief is weakening the economy, says Secretary of Commerce Gina Raimondo
▼ + stars: | 2024-04-18 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

"Child care is core to enabling women to work," she said. She explained that if she stayed in her career, her entire post-tax pay would have gone to child care, and all of the child care providers in her area were waitlisted. I didn't really go through this, so how many people are really thinking child care is an issue? "If you want a strong economy, women have to participate and in order for that to happen, we need strong child care," she said. Raimondo noted that half of Americans live in a "child care desert," with not enough services available at a cost that is affordable.

Persons: Gina Raimondo, Joe Biden, Raimondo, —, CNBC's Sara Eisen, Jessica Chang, Chang, CNBC's Julia Boorstin, We've, it's Organizations: Semiconductors, America, White, Capitol, U.S, Samsung, CNBC's, Changemakers, U.S . Army, CNBC Changemakers, Boston Consulting Group, U.S . Chamber of Commerce, Commerce Department Locations: WASHINGTON, DC, Washington ,, Rhode, U.S, Texas, Korean, New York City, Korea

☆ Copenhagen stunned by devastating stock exchange fire, as police launch probe into blaze
▼ + stars: | 2024-04-17 | by ( Rob Picheta | ) edition.cnn.com time to read: +3 min

CNN —Police launched an investigation Wednesday into the fire that tore through Copenhagen’s famous stock exchange building, causing the collapse of its spire and damaging centuries-old artwork and architecture. “It gives me hope because we have decided to rebuild the stock exchange because it’s part of European history as a trading continent,” he said. The old stock exchange – located only a few minutes walk from Christiansborg Palace – dates back to 1625. It was built in the Dutch Renaissance style at the request of King Christian IV and had recently been undergoing renovations with its facade covered in scaffolding and protective coverings. It has been at the heart of Danish business since then; while it no longer houses the Danish stock exchange, it serves as the headquarters of the Chamber of Commerce.

Persons: Brian Belling, Liselotte, ” Belling, “, it’s, Eva Simoni Lomholdt, Ida Marie Odgaard, Ritzau Scanpix, Brian Mikkelsen, King Christian IV, Mette Frederiksen, ”, Jakob Engel, Schmidt Organizations: CNN — Police, Firefighters, ” Police, Ritzau Scanpix, Reuters, Residents, Notre Dame Cathedral, Getty, Danish Chamber of Commerce, Chamber of Commerce Locations: Copenhagen, Danish, Ritzau, Ritzau Scanpix Denmark, Børsen, Paris, Denmark, AFP, Palace

CNN —Denmark’s old stock exchange was engulfed in a massive fire on Tuesday morning, with video from the scene showing flames ripping violently through the historic building in the center of the capital. Footage showed huge plumes of black smoke billowing from the Copenhagen landmark as emergency responders worked below. Ida Marie/Ritzau Scanpix/AFP/Getty ImagesPeople salvage a painting from the old stock exchange after a violent fire broke out on Tuesday morning. Ida Marie Odgaard/Ritzau Scanpix/AFP/Getty ImagesThe old stock exchange – located only a few minutes walk from Christiansborg Palace – dates back to 1625. The Danish Chamber of Commerce, which is based in the building, described the scene as “a terrible sight.”File photograph of the Old Stock Exchange building.

Persons: CNN —, Ida Marie, Ritzau Scanpix, Ida Marie Odgaard, King Christian IV, Jakob Engel, Schmidt, Luke MacGregor, Frank Trier Mikkelsen, Mikkelsen Organizations: CNN, Getty, Danish, of Commerce, Old Stock Exchange, Bloomberg Locations: Copenhagen, AFP, Palace, Danish

☆ 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

☆ Op-ed: There's a potential tax increase coming. Here's what you need to know
▼ + stars: | 2024-04-15 | by ( Ivory Johnson | ) www.cnbc.com time to read: +5 min

Eva-katalin | E+ | Getty ImagesIt is common folklore, a fairy tale of sorts, that middle-class Americans received perpetual relief in the Tax Cuts and Jobs Act of 2017. First, property taxes generate 32% of state and local income, and U.S. median single-family home property taxes have risen by more than 25% since 2019. Congress will be motivated to etch all the tax cuts in stone, but it would only add fuel to the debt bonfire. watch nowThere is also the qualified business income deduction that offers a 20% tax break for small businesses provided they are below certain income thresholds. All of this is in addition to crippling cost-of-living challenges from excessive government spending, the well our Treasury would have to revisit to make these tax cuts permanent.

Persons: Eva, katalin, he's, Peter G, Uncle Sam, Roth, depreciate — Organizations: Taxation, Economic, Peterson Foundation, Chamber, Commerce, Treasury, Hope Congress, Real, IRS Locations: U.S, United States

☆ Kishida US visit: Japan seeks investment in AI, semiconductors from American companies
▼ + stars: | 2024-04-10 | by ( Junko Ogura | Juliana Liu | ) edition.cnn.com time to read: +4 min

Speaking in Washington at a lunch with American CEOs, Prime Minister Fumio Kishida said Japan welcomes American collaboration in “critical and emerging technology” and assured them that any investment would flow both ways. Last year, Japanese foreign direct investment to the US exceeded $750 billion, Kishida said, making Japan the biggest foreign investor in America and creating more than 1 million jobs. It is reportedly the company’s largest ever investment in Asia’s second largest economy. Earlier this month, Japan’s industry ministry approved subsidies worth up to 590 billion yen ($3.9 billion) for Rapidus. It comes as Washington adds increasing restrictions on the types of semiconductors that American companies are able to sell to China.

Persons: Hong Kong CNN —, Fumio Kishida, ”, Kishida, Joe Biden, Brad Smith, Gary Cohn, Sanjay Mehrotra, Ted Colbert, Albert Bourla, Mayumi Maruyama Organizations: Hong Kong CNN, Microsoft, Microsoft Research Asia, IBM, Micron Technology, Boeing, Defense, Space & Security, Pfizer, CNN, US Chamber of Commerce, “, Intel, Samsung, US Locations: Tokyo, Hong Kong, Japan, Washington, American, United States, America, Asia’s, Russia, South, Taiwan, Hokkaido, chipmaking, China, Europe, Asia, Germany

☆ There is no loneliness epidemic
▼ + stars: | 2024-04-07 | by ( Eliza Relman | ) www.businessinsider.com time to read: +17 min

With the report, a steady trickle of headlines about the epidemic turned into a firehose: "Loneliness is at epidemic levels and it's killing Americans" (USA Today); "This Epidemic of Isolation Is as Harmful as Smoking" (Bloomberg); "America's Loneliness Epidemic Comes for the Restaurant" (The Atlantic). There's one problem: The loneliness epidemic doesn't exist. Even the authors caution in their meta-analysis that "the frequently used term 'loneliness epidemic' seems exaggerated." Calling it a "loneliness epidemic," then, may be a bit like calling COVID a "sneezing pandemic." "There are many, many surveys that are just making up questions about loneliness and are not using the UCLA Loneliness Scale or some other validated loneliness scale," she says.

Persons: Vivek Murthy, Murthy, Hillary Clinton, Donald Trump, Sen, Chris Murphy, Ruth, University of Michigan —, Eric Klinenberg, Julianne Holt, it's, Dave Sbarra, Holt, David Riesman, Lunstad, I've, —, Sbarra, Klinenberg, Adam Mastroianni, " Mastroianni, Mastroianni, Biden, isn't, Jill Lepore, voicemails, There's, Jerome Adams Organizations: Bloomberg, Business, York, Gallup, University of Michigan, New York University, Brigham Young University, University of Arizona, Bell, University of California Los, Commerce, UCLA, Republican, Democratic Locations: Connecticut, Brooklyn, University of California Los Angeles, America, Washington, DC, COVID

☆ Hungry at 3 am? You’re out of luck now
▼ + stars: | 2024-04-06 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

Not even all of 24 Hour Fitness’ gyms — the promise is right in its name — are 24 hours. The city that never sleeps, New York, has lost 13% of its 24-hour restaurants. Around half of IHOP’s 1,800 locations are back to being open 24 hours on Friday and Saturday, at the very least. Ed Endicott/Alamy Stock Photo/FilePete’s was open 24 hours, seven days a week from the 1990s until the pandemic hit in 2020. Despite the signage, Mi Tierra is no longer open 24 hours in San Antonio, Texas.

Persons: hasn’t, Waffle, ”, Alex Barakos, Ed Endicott, Pete’s, Barakos, “, Hudson Riehle, Edward Hopper’s, Harold, Kumar Go, Stephen Zagor, Pete Cortez, Michael Silver Geo, “ There’s, ” Cortez, ’ ” Cortez Organizations: New, New York CNN, Walmart, Hollywood, Alamy, Bureau of Labor Statistics, “, National Restaurant Association, Edward Hopper’s Nighthawks, Columbia Business School, of Locations: New York, Covid, Los Angeles, Chicago, Denver, Philadelphia, White, ”, New York City, San Antonio, Mi, San Antonio , Texas, Tierra, tuxedos

☆ CNBC Daily Open: Risk aversion in vogue
▼ + stars: | 2024-04-05 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Hong Kong's Hang Seng Index edged up 0.1%., while mainland China markets remain shut for a public holiday. The Dow Jones Industrial Average closed down Thursday 1.35% at 38,596.98 in its biggest loss since March 2023 and fourth-straight daily loss. The profit guidance for 6.6 trillion Korean won ($4.89 billion) exceeded even LSEG's estimate of 5.24 trillion won.

Persons: Korea's Kospi, Brent, nonfarm payrolls, Dow, Janet Yellen, Yellen, hasn't Organizations: CNBC, Japan, Federal Reserve, Nikkei, West Texas, Dow Jones, U.S . Federal, Treasury, American, of Commerce, Chips, Samsung Electronics, Tech, Apple Locations: Asia, China, China U.S, Guangzhou, California

☆ China is producing too much stuff. The West is worried.
▼ + stars: | 2024-04-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

US Treasury Secretary Janet Yellen is seeking to address over-manufacturing during her visit to China, which ends Tuesday. The problem is mainly in areas where China already had the upper hand over the West, like lower-tech goods and building materials after the recent property bust. AdvertisementBeijing is aware of overcapacity and pledged to address itBeijing knows the country has an overcapacity problem in some sectors, which is also bad for its own economy. After all, Chinese solar manufacturers are feeling the heat from solar panel overcapacity. Still, China is framing the West's concerns about overcapacity as protectionism and as moves to curtail the country's economic development.

Persons: —, Janet Yellen, Yellen, isn't, hasn't, overcapacity, Li Qiang Organizations: Service, Business, American, of, Reuters, US Treasury, European, Bloomberg, Longi Green Energy Technology Locations: China, Guangzhou, Europe, Mexico, Japan, Thailand, Beijing, Xinhua

☆ Europe opens competition probes covering Chinese solar panel makers over subsidies
▼ + stars: | 2024-04-03 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —The European Union has launched investigations into two groups of companies that include Chinese solar panel makers in the latest salvo against what it suspects is unfair competition from China’s vast manufacturing sector. “There are sufficient indications that both (consortia) have been granted foreign subsidies that distort the internal (EU) market,” the European Commission said in a statement. The European Commission has said it may impose tariffs on Chinese biodiesel imports if dumping is confirmed. Like biodiesel, solar panels are an important part of Europe’s efforts to transition to an economy powered by clean technologies. Last month, Premier Li Qiang told the country’s parliament that China would focus on exporting more of its “new trio” of products, namely electric vehicles, solar panels and lithium batteries.

Persons: Thierry Breton, Jens Eskelund, Li Qiang Organizations: London CNN, European Union, European Commission, Green Energy Technology Co, Shanghai Electric Group Co, European, European Union Chamber of Commerce, EU Locations: Romania, EU, China, Europe

☆ FCC to vote to restore net neutrality rules, reversing Trump
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: 1 min

Jessica Rosenworcel, chairwoman of the Federal Communications Commission (FCC), speaks during the US Chamber of Commerce's Global Aerospace Summit in Washington, D.C., Sept 14, 2022. The U.S. Federal Communications Commission will vote to reinstate landmark net neutrality rules and assume new regulatory oversight of broadband internet that was rescinded under former President Donald Trump, the agency's chair said. The FCC told advocates on Tuesday of the plan to vote on the final rule at its April 25 meeting. The commission voted 3-2 in October on the proposal to reinstate open internet rules adopted in 2015 and reestablish the commission's authority over broadband internet. FCC Chair Jessica Rosenworcel confirmed the planned commission vote in an interview with Reuters.

Persons: Jessica Rosenworcel, Donald Trump Organizations: Federal Communications Commission, US Chamber of Commerce's Global Aerospace Summit, Washington , D.C, U.S . Federal Communications Commission, FCC, Reuters Locations: Washington ,

☆ Ray Dalio on why he is still investing in China
▼ + stars: | 2024-04-02 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Ray Dalio, founder of Bridgewater Associates, received an award from the China General Chamber of Commerce-USA in February 2022. Ray Dalio, chief investment officer at Bridgewater Associates, took to LinkedIn on Tuesday to defend his continued investments in China — a market he views as crucial to "understand the world" and for "diversification." In his follow-up, Dalio defended his decision not to abandon the Chinese market "when things get tough," claiming he is neither "a fair-weather friend" nor "a fair-weather investor." "[T]here is no such thing as a bad market; there is only bad decision making. I find the markets in China good for my type of decision making," he added.

Persons: Ray Dalio, Dalio Organizations: Bridgewater Associates, Chamber of Commerce, USA, LinkedIn Locations: China, Beijing

☆ A glut of cheap Chinese goods is flooding the world and stoking trade tensions
▼ + stars: | 2024-03-28 | by ( Hanna Ziady | Laura He | ) edition.cnn.com time to read: +8 min

The oversupply of Chinese goods in key industries is stoking tensions between the world’s biggest manufacturer and its major trading partners, including the United States and the European Union. From clothes to carsChina’s exports of low-priced goods got a boost after it joined the World Trade Organization (WTO) in 2001. “What China exports is advanced production capacity that meets the needs of foreign customers,” Xinhua News Agency wrote. US President Joe Biden recently pledged to investigate whether imports of Chinese vehicles pose a national security threat. “But perhaps more importantly, persistent oversupply and low prices of Chinese goods will add to geopolitical tensions and keep the threat of tariffs and counter-tariffs alive,” she wrote in a recent note.

Persons: Hong Kong CNN —, ” Jens Eskelund, Xi Jinping, Huang Jingwen, ” Eskelund, Brad W, ” Markus W, Voigt, China’s BYD, Warren Buffett, Setser, Li Qiang, “, ”, Joe Biden, Jennifer McKeown, Shawn Deng Organizations: Hong Kong CNN, European Union, European Union Chamber of Commerce, Zero, of, People, China’s National Bureau of Statistics, Council, Foreign Relations, World Trade Organization, Aream Group, Tesla, Getty, China Development Forum, Xinhua, Agency, ., EV, European Commission, WTO, Capital Economics Locations: Hong Kong, United States, China, Europe, Beijing, Xinhua, China's Shandong, . Washington, Brussels

☆ China's Xi meets U.S. executives as businesses navigate bilateral tensions
▼ + stars: | 2024-03-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +8 min

The forum this year coincided with other efforts to attract foreign business. However, a combination of geopolitical tensions, regulatory uncertainty and slower economic growth have made it more challenging for foreign businesses in China. ... foreign companies share the same lack of confidence and worries about an uncertain future that is felt amongst much of China's domestic industry. Looking for economic clarityFor businesses considering China investment plans, the country's near-term growth outlook is another factor. He emphasized China's large market, industrial supply chain, and pointed out how China has worked on issues such as data exports and equal market treatment for foreign businesses.

Persons: Tim Cook, Management Dean Bai Chong, Xi Jinping, Stephen Schwarzman, Cristiano Amon, Mark Carney, Rajesh Subramaniam, Joe Biden, Carlos Gutierrez, Sean Stein, Gutierrez, Biden, Scott Kennedy, Peter Bachmann, Bachmann, Kennedy, Stephen S, Roach, Yale Law School's Paul Tsai, he's, China's, Han Zheng, Amin H, Nasser Organizations: Apple, China Development Forum, Tsinghua University School of Economics, Management, China News Service, Getty, U.S . Blackstone, Qualcomm, Bloomberg, FedEx, China, Cyberspace Administration, U.S, American Chamber of Commerce, of Commerce, Scott, Scott Kennedy Center for Strategic, Studies, China Centre, University of Applied Sciences, Arts Northwestern Switzerland, Center for Strategic, International Studies, Yale Law, Yale Law School's Paul Tsai China, Communist Party, Invest, CNBC, Aramco Locations: China, BEIJING, U.S, San Francisco, Beijing, Shanghai, Washington ,, Saudi

☆ China’s Xi meets American CEOs to boost confidence in world’s second largest economy
▼ + stars: | 2024-03-27 | by ( Laura He | Wayne Chang | ) edition.cnn.com time to read: +3 min

Foreign direct investment in China has slumped in recent months as a combination of slower growth, regulatory crackdowns, onerous national security legislation and questions about the country’s long-term growth prospects have shaken confidence in the world’s second biggest economy. But global investors remain wary of China’s rising scrutiny of Western companies as well as a structural slowdown. In the first two months of 2024, foreign direct investment (FDI) into the country shrank nearly 20% from a year ago, underscoring weak confidence among global executives. Another gauge of FDI — direct investment liabilities — showed a 82% slump in 2023, according to figures released by the State Administration of Foreign Exchange. China has set this year’s economic growth target at around 5%, the same as last year’s.

Persons: Xi Jinping, Cristiano Amon, Raj Subramaniam, Stephen Schwarzman Organizations: Taipei CNN, Qualcomm, FedEx, Blackstone, of, International Monetary Fund, World Bank, China Development, Commerce Ministry, State Administration of Foreign Exchange, American Chamber of Commerce Locations: China, Hong Kong, Taipei, Beijing, United States

☆ Article 23: Hong Kong passes second national security law aligning city more closely with mainland China
▼ + stars: | 2024-03-19 | by ( Chris Lau | ) edition.cnn.com time to read: +6 min

Coming into effect on Saturday, the law introduces 39 new national security crimes, adding to an already powerful national security law that was directly imposed by Beijing on Hong Kong in 2020 after huge and sometimes violent democracy protests the year before. Hong Kong’s Chief Executive Lee described it as a “historical moment for Hong Kong.”Lawmakers attend a meeting for Basic Law Article 23 legislation at the Legislative Council on March 19, 2024 in Hong Kong, China. They argue their legislation is similar to other national security laws around the world. “This will surely increase the doubt, anxiety, and uncertainty of foreign businesses in Hong Kong.”In mainland China, national security laws have often ensnared both local and foreign businesses in opaque investigations. That is something Emily Lau, a former pro-democracy lawmaker, also worries about, that what made Hong Kong distinct is fast fading.

Persons: –, John Lee, Hong, Lee, Chen Yongnuo, ”, Hong Kong’s, Eric Lai, Lai, ” Lai, Hung Ho, fung, Capvision, Sarah Brooks, “, ” Brooks, ” Johannes Hack, Emily Lau, I’ve Organizations: Hong Kong CNN, Hong, ” Lawmakers, Legislative, China News Service, China’s Communist Party, CNN, Georgetown Center, Asian Law, Johns Hopkins University, Amnesty International, German Chamber of Commerce, Hong Kong Locations: Hong Kong, Hong Kong’s, Beijing, China, Amnesty International China, ”, Hong

☆ EU-China trade relations are in a 'slow-motion train accident,' business group says
▼ + stars: | 2024-03-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

"What we see right now is the unfolding of a slow-motion train accident," he told reporters at a briefing last week. "That's when trade becomes a security question and I think that is perhaps not fully appreciated in China just yet." There needs to be an honest conversation between Europe and China about what this is going to mean. The EU was China's largest regional trading partner until Southeast Asia recently surpassed it. The U.S. is China's largest trading partner on a single-country basis.

Persons: Jens Eskelund, Eskelund, I've, Markus Herrmann Chen Organizations: Future Publishing, Getty, European Union Chamber of Commerce, EU, of Commerce, Investment, China Macro Locations: Hefei, Anhui province, BEIJING, Europe, Beijing, China, Southeast Asia, U.S

☆ Exxon is not trying to acquire Hess in dispute with Chevron over Guyana oil assets, CEO says
▼ + stars: | 2024-03-18 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

When asked directly, Woods told the CERAWeek by S&P Global energy conference that acquiring Hess is not one of Exxon's objectives in the dispute with Chevron. HOUSTON — Exxon is not trying to acquire Hess as the oil major battles with Chevron over lucrative oil assets in Guyana, CEO Darren Woods said Monday. Exxon is claiming a right of first refusal over Hess' Guyana assets under a joint operating agreement that governs the Stabroek oil block, which is estimated to have 11 billion barrels of oil and gas. Woods said Exxon is also trying to find out how much value Chevron's deal is placing on Hess' Guyana assets. Exxon wrote the joint operating agreement that governs the Stabroek block, Woods said.

Persons: Woods, Hess, Darren Woods, CNBC's Organizations: Global, Chevron, Exxon, HOUSTON, Offshore Oil Corporation, International Chamber of Commerce Locations: Guyana, China, Paris, CERAWeek

☆ Emails show how a right-wing group steers GOP leaders on major policy issues
▼ + stars: | 2024-03-17 | by ( Bob Ortega | Daniel Medina | ) edition.cnn.com time to read: +18 min

Missouri Secretary of State Jay Ashcroft speaks with reporters on Jan. 23 in Jefferson City, Missouri. In Wyoming, a GOP state senator forwarded an FGA draft bill to Secretary of State Chuck Gray that would prohibit sending out unsolicited absentee ballot request forms. Emails show the group strategized with the secretary of state’s office for weeks leading up to Ashcroft proposing his own such rule last January. FGA notches wins with weakened child labor lawsFGA’s lobbying group, The Opportunity Solutions Project, spearheads its efforts at the state level. Chip Somodevilla/Getty ImagesFGA also continues its push at the state level across the country to enact its policy priorities.

Persons: State Jay Ashcroft, “, Ashcroft, Kacen Bayless, FGA, –, Chuck Gray, ” Gray, Gray, ”, Joe Biden’s, Jay, Daniel Garrett, Garrett, “ It’s, Missouri’s, Scott Fitzpatrick, BlackRock, ” Fitzpatrick, Mark Felix, Fitzpatrick, ALEC, Andy Puzder, Carls Jr, ” Puzder, Kristina Shelton, Puzder, ” Kristina Shelton, they’ve, Tarren Bragdon, Rebecca Burkes, It’s, Tyson, ’, Bragdon, Sarah Bryner, Florida Governor Ron DeSantis, Paul Renner, Donald Trump, Chip Somodevilla, Shelton, ” Shelton Organizations: CNN, State, Republican, Foundation, Government, Missouri, Kansas City Star, Tribune, Service, GOP, Ashcroft, Conservative, Missouri Chamber of Commerce, National, University of Pennsylvania, Brookings Institution, Exxon, BlackRock, ” BlackRock, Energy, ExxonMobil, Washington Post, American Legislative Exchange Council, Heritage Foundation, Heritage, Boston, Wisconsin Democratic, FGA, Solutions, Tyson Foods Inc, George’s Inc, US Department of Labor, Solutions Project, Daily, The Heritage Foundation, Alliance, Trump, Florida Governor, Bragdon, Florida House, House, FBI, Justice Department, Department of Education, Center, Pleaides Locations: Missouri, Texas, Jefferson City , Missouri, Wyoming, Kansas , Indiana, BlackRock, Florida, ExxonMobil Baytown, Baytown , Texas, Washington, ” Wisconsin, Wisconsin, Arkansas, Iowa, Park City , Utah, DeSantis, Rome , Georgia

☆ Court Temporarily Halts S.E.C.’s New Climate Rules
▼ + stars: | 2024-03-15 | by ( Hiroko Tabuchi | ) www.nytimes.com time to read: +1 min

A federal court on Friday temporarily halted new rules from the Securities Exchange Commission that require public companies to disclose more about the business risks they face from climate change, siding with two oil and gas companies that criticized the requirements as costly and arbitrary. this month, the rules require some publicly traded companies to disclose their climate risks, and how much greenhouse gas emissions they produce. Ten Republican-led states have also sued to stop the rules. to effectively regulate the controversial issue of climate change,” the two companies wrote in their petition. They were “arbitrary and capricious,” the two companies said, and violated the First Amendment, which protects free speech, by “effectively mandating discussions about climate change.”

Persons: “, ” Organizations: Securities Exchange Commission, Industry, U.S . Chamber of Commerce, U.S ., Appeals, Fifth Circuit, Republican, Fifth, Liberty Energy, Nomad Proppant Locations: U.S

☆ Biden says it’s ‘vital’ US Steel remain American owned and operated
▼ + stars: | 2024-03-14 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

CNN —President Joe Biden on Thursday said he believes it’s “vital” that US Steel remain American owned and operated, dealing a blow to the iconic company’s planned sale to Japan’s Nippon Steel. “It is important that we maintain strong American steel companies powered by American steel workers. I told our steel workers I have their backs, and I meant it,” Biden said in a statement. “US Steel has been an iconic American steel company for more than a century, and it is vital for it to remain an American steel company that is domestically owned and operated.”The Biden administration is concerned about some of Nippon’s assets in China, a person familiar with the administration’s thinking told CNN. After the Biden statement, the US Chamber of Commerce warned against politicizing the US Steel deal and said the transaction should proceed if the CFIUS review reveals no national security concerns.

Persons: Joe Biden, it’s, ” Biden, ”, Biden, Lael Brainard, Fumio, ” John Murphy, ” Michael Leiter, Skadden, Arps, ” Leiter, isn’t Organizations: CNN, US Steel, Japan’s Nippon Steel, Steel, Nippon, National Economic Council, Washington Post, Foreign Investment, Treasury, US Chamber of Commerce Locations: American, China, Pittsburgh, Washington, United States

☆ Why are prices still so high? Corporate greed, some say.
▼ + stars: | 2024-03-11 | by ( Tami Luhby | ) edition.cnn.com time to read: +7 min

While supply chain problems and high demand may have helped spur inflation early in the pandemic, Rosolino believes there’s another key reason why prices have soared and remained high: Corporate greed. It’s corporate greed.”Nick Rosolino feels businesses won't lower their prices as long as consumers keep spending. “Too many corporations raise prices to pad their profits, charging more and more for less and less,” Biden said. Companies are typically slower to reduce their prices when costs decline than they are to raise prices when their expenses jump. Corporate profits have contributed to inflation, though experts differ on the extent.

Persons: Nick Rosolino, Rosolino, there’s, ”, “ It’s, Nick Rosolino Reluctantly, Joe Biden, “, ” Biden, Cookie Monster, Lael Brainard, Goldman Sachs, Neil Bradley, Heather Vargas, ” Vargas, ” Heather Vargas, Heather Vargas Vargas, –, Kellogg, Gary Pilnick’s, Companies haven’t, Aaron Hackman, McKinley Conner, Aaron Hackman “, Hackman Organizations: CNN, America, White, Economic Council, Federal Reserve, Companies, Federal Reserve Bank of Kansas City, US Chamber of Commerce, of Labor Statistics, “ Locations: Maine, New Gloucester , Maine, Portland, Heights , California, Fort Lauderdale , Florida

☆ China is teaching the likes of Apple and Tesla a very painful business lesson
▼ + stars: | 2024-03-11 | by ( Hasan Chowdhury | Lina Batarags | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In turn, sentiment toward Western business has soured. It's no wonder US companies that once banked on this being the "Chinese century" are having to learn a very painful lesson about doing business in China. According to The Wall Street Journal, a directive known as Document 79 is being ramped up to push out Western companies. AdvertisementHow Western companies respond will be closely watched, as China remains too valuable to lose a hold of.

Persons: —, Apple's, Tesla, Gene Munster, Wang Gang, Muster, BYD, It's, John Keeble, Li Qiang, Suzanne Clark Organizations: Service, Business, Research, Apple, Getty, Shanghai gigafactory, Bloomberg, China's Passenger Car Association, Deepwater Asset Management, Huawei, Volkswagen, Reuters, National People's Congress, Wall Street, US Chamber of Commerce Locations: China, Beijing, Shanghai

☆ Opinion: The one thing Biden and Trump agree on
▼ + stars: | 2024-03-10 | by ( Richard Galant | ) edition.cnn.com time to read: +17 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. That reference to Election Day is perhaps the only line in Trump’s speech that President Joe Biden would agree with. In another America, they would be collegial members of the Presidents Club, bonding over memories of how they overcame their thorniest challenges. “Biden sounded like he’s ready to go toe to toe with former President Donald Trump and win in November. Paul Sracic noted that Biden lost White voters without college degrees by 35 points in 2020.

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