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☆ A company rescinded my job offer after I'd already given 2 weeks' notice to my employer. Now I'm unemployed.
▼ + stars: | 2023-08-08 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

A sales assistant was left unemployed when a company rescinded her job offer after she'd given two weeks' notice. She says she left the review to "save even one person from potentially losing their job." Insider has verified their employment, as well as the job offer, but isn't naming them in order to protect their career prospects. Soon after the second interview, I received a job offer via email. I was just so flabbergasted that they would tell me to take down a negative review when it wasn't even my fault that they rescinded my job offer.

Persons: I'd Organizations: Service, New Locations: Wall, Silicon, New York City, Glassdoor

☆ House Republicans target proxy advisors in latest hearing picking apart ESG investing
▼ + stars: | 2023-07-13 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — A Republican-led House Financial Services subcommittee held a second hearing Thursday scrutinizing the Biden administration's environmental, social and governance disclosure proposals for public U.S. companies. The hearing zeroed in on the influence of proxy advisors on shareholder voting decisions on questions related to ESG investing. Republicans pushed back against what they called the prioritization of ESG shareholder resolutions, while Democrats say shareholders deserve to be informed of all possible risks to their investments. The hearing was the second of six scheduled this month on ESG investing by House Republicans. The GOP's push against policies designed to promote ESG investing has garnered the support of some of the largest business advocacy groups, such as the Business Roundtable and the National Association of Manufacturers.

Persons: WASHINGTON —, Ann Wagner, Glass Lewis, Wagner, Gary Gensler, Trump, Chris Netram, — rescinding, Netram Organizations: Republican, Financial Services, Biden, Capital Markets, House Republicans, GOP, SEC, Securities, Exchange, Business, National Association of Manufacturers, NAM Locations: Bonn, Germany

India's foreign ministry is consulting with departments on their appetite for fertiliser and gas from Cairo as part payment for the credit line, an Indian official said. India, the world's second-largest wheat producer, banned wheat exports in May 2022 to help control rising domestic prices, rescinding a plan to export 3 million tons of wheat to Egypt in the year 2022/23. The other sources from India and Egypt did not wish to be identified as they are not authorised to speak to the press. India's external affairs ministry, finance ministry, trade minister, and Egypt's foreign ministry and trade ministry did not immediately respond to requests for comment. India exported $4.11 billion of goods to Egypt in the last fiscal year, while importing $1.95 billion.

Persons: Narendra Modi's, Ali Moselhy, Moselhy, Rajendra Jadhav, Conor Humphries Organizations: Reuters, Indian, Thomson Locations: CAIRO, DELHI, India, Egypt, Delhi, Cairo, New Delhi, Russia

WASHINGTON, June 13 (Reuters) - The United States will extend deportation relief and work permits through 2025 for more than 300,000 immigrants from El Salvador, Honduras, Nicaragua and Nepal but will not expand the program to cover additional people, the U.S. Department of Homeland Security (DHS) said on Tuesday. Biden's Democratic administration is rescinding Trump's earlier decisions as part of the process of extending the relief for immigrants from El Salvador, Honduras, Nicaragua and Nepal. The latest decision by the Biden administration will allow TPS renewals for 239,000 Salvadorans who have resided in the U.S. since 2001. Hundreds of thousands of immigrants from El Salvador, Honduras and Nicaragua living in the U.S. illegally will not be covered by the TPS extension since they arrived after the cutoff dates. Reporting by Ted Hesson in Washington; Editing by Mica Rosenberg, Aurora Ellis, Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden's, Donald Trump, rescinding, Alejandro Mayorkas, Biden, Eric Adams, Ted Hesson, Mica Rosenberg, Aurora Ellis, Alexandra Hudson Organizations: U.S . Department of Homeland Security, TPS, Democratic, New York City, Alexandra Hudson Our, Thomson Locations: United States, El Salvador, Honduras, Nicaragua, Nepal, U.S, Mexico, Washington

☆ Premarket stocks: How crypto is dealing with debt ceiling turmoil
▼ + stars: | 2023-05-30 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Here’s what’s in the debt ceiling dealPresident Biden and Republican House Speaker McCarthy put their long weekend to good use, coming to an agreement to raise the debt ceiling in the hope of avoiding a self imposed default on US government debt. If Congress doesn’t raise the debt ceiling by June 5, Treasury Secretary Janet Yellen warns the government will not have enough funds to pay all of the nation’s obligations in full and on time. The debt ceiling bill does that, rescinding $1.4 billion in IRS funding. Corporate America celebrates debt ceiling dealIt appears that US industry is pleased with the debt ceiling deal, and would like Congress to pass it quickly. Leading business groups praised Biden and McCarthy for forging a bipartisan agreement over the weekend, reports my colleague Matt Egan.

☆ Biden and McCarthy reach debt ceiling deal, avoiding national default
▼ + stars: | 2023-05-28 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

The White House and House of Representatives have reached an agreement in debt ceiling talks. Representatives for the White House and Rep. McCarthy did not immediately respond to Insider's request for comment. The GOP, spearheaded by McCarthy, has insisted that a debt ceiling raise should be tied to advancing their party's priorities through spending cuts. Republican proposals in the debt ceiling negotiations included banning student-loan forgiveness, bolstering work requirements on welfare programs, and rescinding unspent pandemic funding, Insider previously reported. Since its introduction in 1917, the debt ceiling has been raised dozens of times to avoid such outcomes, Insider previously reported.

☆ White House and Republicans reach a tentative deal to avoid U.S. default
▼ + stars: | 2023-05-27 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +5 min

WASHINGTON — House Republicans reached a tentative deal with the White House on Saturday night to raise the nation's borrowing limit and avoid a catastrophic default on U.S. sovereign debt. "I expect to finish the writing of the bill, checking with the White House and speaking to the president again tomorrow afternoon," said the California Republican, "Then posting the text of it tomorrow, and then be voting on it on Wednesday." The White House has invited all House Democrats to attend a virtual briefing on Sunday afternoon, presumably to explain what is in the deal and urge Democrats to vote for it. Nonetheless, many Republicans have come to view the biennial vote to raise the debt limit as an opportunity to extract concessions from Democrats in exchange for their votes to avoid a debt default. Unless the debt limit were raised in time and the government was allowed to borrow more, "Our projected resources would be inadequate to satisfy all of these obligations."

☆ Dodgers Face Backlash After Rescinding Pride Night Invitation
▼ + stars: | 2023-05-18 | by ( Scott Miller | ) www.nytimes.com time to read: +1 min

By Thursday, what was supposed to be an upcoming celebration at Dodger Stadium had become a lightning rod of controversy. The Los Angeles LGBT Center condemned the Dodgers’ decision on Thursday, demanding that the team reverse its stance on the Sisters of Perpetual Indulgence or cancel Pride Night altogether. In part, the center’s statement read: “Buckling to pressure from out-of-state, right-wing fundamentalists, the Dodgers caved to a religious minority that is perpetuating a false narrative about L.G.B.T.Q.+ people. They have been fed lies about the Sisters of Perpetual Indulgence, and have therefore contributed to the ongoing, anti-L.G.B.T.Q. community.”The American Civil Liberties Union of Southern California also announced on Twitter that, in unity with the Sisters of Perpetual Indulgence, “we will not participate in Pride Night.” The organization pointed out in the post that the Dodgers, who broke baseball’s color line with Jackie Robinson in 1947, had previously been “champions of inclusion.”

☆ AOC says Biden choosing to compromise with the GOP on a debt ceiling deal would be 'profoundly destructive,' and the White House should 'expect pushback on nearly any significant concession'
▼ + stars: | 2023-05-16 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Biden is set to meet with top lawmakers on Tuesday to discuss a potential debt ceiling agreement. McCarthy passed a bill in the House that would raise the debt ceiling through March of next year, and it was accompanied by over $4.5 trillion in spending cuts. Even so, some progressive lawmakers have warned the president that he should not bend on Democratic priorities to raise the debt ceiling. Multiple reports have suggested that the White House was considering compromising on rescinding unspent pandemic funding and energy permitting reform in a debt ceiling deal. Democrats – including President Biden – have been clear: these dangerous proposals are not going anywhere.

☆ 'Severe hardship to American families' is inching closer and closer as Congress fails to find a debt ceiling solution, Janet Yellen warns
▼ + stars: | 2023-05-15 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +3 min

Janet Yellen reminded Kevin McCarthy on Tuesday that the US could default on its debt in early June. If the debt ceiling is not raised by then, Americans could experience "severe hardship," Yellen warned. In a new letter to House Speaker Kevin McCarthy, Yellen reiterated that the country might run out of money to pay its debts as soon as June 1 if Congress doesn't step in. And, right now, with Democrats and Republicans still squabbling over how to approach a debt ceiling increase, Congress is running out of time to avert a crisis. The Washington Post reported on Monday, for example, that GOP staff refused the White House's request to close tax loopholes in debt ceiling talks.

☆ JD Vance defends Trump's comments that Republicans should let the US default, saying the former president was giving 'political advice' and doing 'fundamentally the right thing'
▼ + stars: | 2023-05-12 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Sen. JD Vance defended Trump's comments to Axios, saying he was just giving "political advice." "I say to the Republicans out there, congressmen and senators, if they don't give you massive cuts you are going to have to do a default," Trump said. Sen. JD Vance argued that Trump was just trying to help his party. Vance told Axios that "what the president is doing is really giving political advice ... not financial advice." GOP Sen. Josh Hawley, for example, told Axios that he disagreed with Trump's comments and that "there is no world in which [a default] happens."

☆ The government's main budget experts confirmed that the US could risk economic catastrophe as soon as early June
▼ + stars: | 2023-05-12 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

The nonpartisan Congressional Budget Office projected the US could run out of money in early June. That projection tracks with Treasury Secretary Janet Yellen's warnings on when the US could default. Congress can step in and prevent the crisis, but so far Republicans and Democrats are still sparring. So far, though, Congress seems to be running up the clock as Republicans and Democrats spar over how to avert a preventable catastrophe. The top lawmakers were expected to meet with Biden again on Friday to discuss the debt ceiling, but the meeting was reportedly postponed to give staffers more time to chat on potential areas of compromise.

☆ What the End of a Pandemic-Era Health Order Will Mean for the Southern Border
▼ + stars: | 2023-05-08 | by ( Eileen Sullivan | ) www.nytimes.com time to read: +2 min

Two months ago, the Biden administration said that on May 11, the public health crisis designation would end. In effect, officials said, this meant that the use of Title 42 would come to an end, too. (The Biden administration sought to end the use of the public health order in the past year, but was stopped twice by the courts. Since it has been in place, Title 42 was used about a third of the time. Under Title 42, people could also cross as many times as they wanted without facing steeper penalties.

Congress is sparring again over raising the debt ceiling, and time is running out to avoid a default. Here's what the debt ceiling is and why it's so dangerous for the US economy. If that sounds familiar, you already know a fair deal about the "debt ceiling." The debt ceiling was introduced in 1917 to encourage the government to slow its borrowing. McCarthy and his GOP colleagues have been adamant that any debt ceiling raise should be tied to their own priorities, particularly in the form of spending cuts.

☆ Kevin McCarthy is fighting to 'deny critical student debt relief' to 83,000 of his own constituents in his new debt ceiling bill, Biden's Education Secretary says
▼ + stars: | 2023-04-21 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Kevin McCarthy unveiled his bill to raise the debt ceiling on Wednesday. It included banning student-loan forgiveness and ending the payment pause. The 320-page bill included $4.5 trillion in spending cuts, including strengthened work requirements on welfare programs, rescinding unspent pandemic funds, and banning student-loan forgiveness. Currently, Biden's broad debt relief is paused following two conservative-backed lawsuits that blocked the implementation of the plan, and the Supreme Court is expected to issue a final decision of the legality of the relief by June. "Let's get this straight: MAGA House Republicans are holding the economy hostage to prevent student debt relief from happening, while making it easier for the rich to cheat on their taxes," Biden wrote on Twitter on Thursday.

☆ House G.O.P. Eyes Rescinding Unspent Covid Money as Part of Its Fiscal Plan
▼ + stars: | 2023-04-20 | by ( Catie Edmondson | Madeleine Ngo | ) www.nytimes.com time to read: +1 min

Their focus on the idea reflects how, after toiling unsuccessfully for months to unite their rank and file around a fiscal blueprint, G.O.P. leaders have become acutely aware that they have few options for doing so that could actually pass the House. On Wednesday, Speaker Kevin McCarthy highlighted the measure when he finally unveiled House Republicans’ proposal to raise the debt limit for one year in exchange for a series of spending cuts and policy changes. “The American people are tired of politicians who use Covid as an excuse for more extreme inflationary spending,” Mr. McCarthy said in a speech on the House floor. “If the money was authorized to fight the pandemic, what was not spent during the pandemic should not be spent after the pandemic is over.”

☆ Republicans reportedly want to ban student loan forgiveness and make it harder to get food stamps in a debt ceiling deal — and they seem to want to do it all over again next year
▼ + stars: | 2023-04-13 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Republicans are finally reportedly ready to share their debt ceiling demands as a package. Their package would only raise the debt ceiling for a year, setting up another fight in the middle of the next election. The US is potentially mere months away from breaching the debt ceiling, meaning it'll be unable to pay for the spending that Congress has already authorized. Congress passed a clean debt ceiling raise three times under former President Donald Trump. "I'm very concerned about the debt ceiling," he said.

☆ U.S. Treasury says record FDIC cash draw won't affect debt ceiling 'X-date'
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +3 min

[1/3] A sign reads “FDIC Insured” on the door of a branch of First Republic Bank in Boston, Massachusetts, U.S., March 13, 2023. REUTERS/Brian Snyder/File PhotoMarch 14 (Reuters) - The Federal Deposit Insurance Corp said its withdrawal of a record $40 billion in U.S. Treasury Funds on Friday as it seized control of Silicon Valley Bank will not affect when the Treasury runs out of operating room under the debt ceiling. The FDIC withdrawal from the Treasury General Account was many times larger than any previous largest draws, according to data from the Daily Treasury Statement for March 10 released late on Monday. The Treasury has not altered that early June estimate, but Yellen has acknowledged that April tax receipts "will be informative" on the timing of the X-date. The Congressional Budget Office has estimated that the Treasury could hold out until sometime between July and September without a debt ceiling increase, but the timing was uncertain due to the pace of revenues and economic developments.

☆ A NYC worker saw her company was hiring for her job title but paying up to $90K more—so she applied for it
▼ + stars: | 2023-03-11 | by ( Jennifer Liu | ) www.cnbc.com time to read: +3 min

Because the company is hiring in NYC, which requires salary ranges on job listings, she saw that the intended pay for the new hire would be $32,000 to $90,000 more than her current salary. The Citi spokesperson adds the company has listed pay ranges on all U.S. job ads since mid-October. Following that discussion, Nguyen says the prospective company began undergoing layoffs and ended up rescinding their job offer. "As a contractor, I'm in a pretty vulnerable position," she adds. "The full-time employee conversion is being dangled in front of me like a reward that I'm not actually sure I'm guaranteed."

☆ U.S. House Republican hardliners unveil spending demands for raising debt ceiling
▼ + stars: | 2023-03-10 | by ( David Morgan | ) www.reuters.com time to read: +4 min

WASHINGTON, March 10 (Reuters) - The hardline U.S. House Freedom Caucus responded to President Joe Biden's $6.8 trillion budget proposal on Friday, with a list of demands including a near freeze on discretionary spending and an end to multiple programs, in exchange for raising the debt ceiling. House Freedom Caucus Chairman Scott Perry said the plan would mean a $131 billion spending cut for fiscal 2024, which begins on Oct. 1, and save $3 trillion over a decade. "America will not default on our debts unless President Biden chooses to do so," Perry told reporters at a news conference. "To ensure America does not default on our debts, the House Freedom Caucus is offering a responsible solution." "To president Biden: your budget is dead on arrival," said Representative Byron Donalds, a House Freedom Caucus member.

☆ Pete Buttigieg's presidential hopes make him an easy target for Republicans — and his slow response in Ohio gave them plenty of ammo
▼ + stars: | 2023-03-01 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +9 min

Transportation Secretary Pete Buttigieg hasn't ruled out running for the White House again. He's in the spotlight and the hot seat far more than most other transportation secretaries before him. The search-engine test shows Buttigieg has become a high-profile target who finds himself in the spotlight far more than most other transportation secretaries before him. However, no transportation secretary has likely entered the job with more star power. After he strode onto the stage of The Late Show last fall, host Stephen Colbert noted that not many transportation secretaries have been guests on late night talk shows.

☆ Donald Trump, who rolled back rail safety regulations and slashed environmental protections, donates Trump-branded water to East Palestine residents
▼ + stars: | 2023-02-23 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

Donald Trump visited East Palestine, Ohio, on Wednesday, following a disastrous train derailment. Trump's visit raised questions about his administration's rollback of rail safety regulations. The former president dismissed questions about his administration's rollback of Obama-era rail safety regulations saying he "had nothing to do with it." The Trump administration slashed several environmental and rail regulations while in office, most notably rescinding a 2015 proposal to require faster brakes on trains that were carrying highly flammable or hazardous materials. Following his Wednesday news conference, Trump visited a local Ohio McDonald's where he handed out more MAGA hats and bought meals for firefighters.

☆ Republican U.S. Senator Rick Scott drops plan to cut Social Security, Medicare
▼ + stars: | 2023-02-17 | by ( David Morgan | ) www.reuters.com time to read: +4 min

"Let me say one more time: There is no agenda on the part of Senate Republicans to revisit Medicare or Social Security. Scott's move also came a day after Republican former President Donald Trump urged him to support Social Security and Medicare in a posting on his Truth Social media platform. "Be careful, Rick, and most importantly, fight for Social Security and Medicare. It also said: "Note to President Biden, Sen. Schumer, and Sen. McConnell – As you know, this was never intended to apply to Social Security, Medicare, or the US Navy." The White House said the newly revamped Scott plan should not be taken at face value.

☆ After being attacked by both Democrats and the GOP, Rick Scott edits his plan to sunset all federal laws every 5 years. He now wants to make exceptions for Social Security, Medicare, and the military.
▼ + stars: | 2023-02-17 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

He edited the plan on Friday to say he "never intended" to include Social Security, Medicare, and the military. Chuck Schumer and Mitch McConnell, clarifying that the five-year rule was "never intended" to apply to Social Security, Medicare, and the Navy. Scott's plan has drawn criticism from both Democrats and Republicans who have vowed to preserve Social Security and Medicare. That was the Rick Scott plan," McConnell told Kentucky radio host Terry Meiners. He also wants to make any potential cuts to Medicare and Social Security subject to a two-thirds vote from Congress.

☆ IBM is suing a former top executive, saying she needs to return $470,000 in bonuses after she took a job at a rival firm
▼ + stars: | 2023-02-14 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

IBM wants its former top exec in Thailand to return $470,000 in bonuses after taking a job at a rival. IBM said Patama Chantaruck violated an equity awards plan when she started working at Accenture. In a lawsuit filed in New York Monday, which Insider has reviewed, IBM said that Patama Chantaruck started working at IBM Thailand as the country's general manager in 2018. Chantaruck resigned from IBM Thailand, effective February 28, 2022, the suit says. Less than six weeks later, on April 11, she started working at Accenture in what IBM says is a role "highly similar" to what she did at IBM Thailand.

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