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☆ The Big Part of the Debt Ceiling Deal Congress Isn’t Talking About
▼ + stars: | 2023-05-31 | by ( Margot Sanger-Katz | Alicia Parlapiano | ) www.nytimes.com time to read: +10 min

Annual deficit projections $3 trillion Current trajectory Full debt limit deal Debt limit bill House G.O.P. bill passed in April $2 trillion $1 trillion 2023 2028 2033 Annual deficit projections $3 trillion $2 trillion $1 trillion Current trajectory Full debt limit deal Debt limit bill House G.O.P. But negotiators are confident enough in the agreement that they are moving forward with the debt limit bill this week. The debt limit deal scenarios assume that after budget caps lift in 2026, Congress will increase spending in line with inflation. It's also possible that the entire deal holds, and the next Congress will still make vastly different spending choices.

Persons: Kevin McCarthy, Biden, “, It's Organizations: House Republicans, White, New York Times, Congressional, Republicans, Office, SNAP, Internal Revenue Service, Social Security, Medicare, Savings, Energy, Biden, Medicaid, of Commerce, Federal Locations: That’s, G.O.P, Washington

☆ Despite opposition, UK's Sunak wins post-Brexit trade vote in parliament
▼ + stars: | 2023-03-22 | by ( ) www.cnbc.com time to read: +3 min

British Prime Minister Rishi Sunak won the backing of parliament on Wednesday for a key element of a reworked post-Brexit deal on Northern Ireland. Despite the opposition, Sunak won the vote by 515 to 29, suggesting that several in his Conservative Party had abstained on the vote. "The Stormont brake is at the heart of the (Windsor) Framework," Northern Ireland minister Chris Heaton-Harris told parliament ahead of the vote. "It restores practical sovereignty for the United Kingdom as a whole and the people of northern Ireland in particular." Johnson, the face of the campaign to leave the EU, and his successor, Truss, both said they would vote against the brake.

Sunak has tried to end years of wrangling over Brexit by revisiting one of the trickiest parts of the negotiations - to ensure smooth trade to Northern Ireland without creating a hard border with Britain or with European Union-member Ireland. "I welcome parliament voting today to support the Windsor Framework," Britain's Northern Ireland minister Chris Heaton-Harris said on Twitter. "This measure lies at the very heart of the Windsor Framework which offers the best deal for Northern Ireland, safeguarding its place in the Union and addressing the democratic deficit." Sunak hailed securing the deal last month as a "decisive breakthrough" but by alienating the DUP he has failed in restoring the power-sharing government in Northern Ireland. DUP leader Jeffrey Donaldson told parliament his party could not return to Northern Ireland's power-sharing government "at this stage".

☆ US attorneys general condemn credit-card firms for backtracking on gun sale code
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +1 min

March 16 (Reuters) - A coalition of 14 attorneys general condemned payment networks majors including Visa Inc (V.N), American Express Co (AXP.N) and Mastercard Inc (MA.N) for pausing work on a merchant code to help detect suspicious gun sales in the United States. Visa, Mastercard and American Express did not immediately respond to Reuters requests for comment. Senators Bob Menendez and Elizabeth Warren have also called on federal regulators to help speed up the adoption of the MCC by payment networks. The MCC, aimed at identifying firearms sellers, would identify the type of store where consumers shopped, though not the individual items they bought. Reporting by Deborah Sophia in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Paul Ryan Says Even MAGA Diehards Believe Trump Can’t Win in 2024
▼ + stars: | 2023-03-06 | by ( David Marchese | ) www.nytimes.com time to read: +23 min

Photo illustration by Bráulio Amado Talk Paul Ryan Says Even MAGA Diehards Believe Trump Can’t Win in 2024For a good long time during the George W. Bush and Obama presidencies, Paul Ryan was considered one of the intellectual leaders and shining stars of the Republican Party. Get out of this race.” But I don’t think Trump is going to get the nomination. I don’t think we want the lack of liberty that comes with government-made equality. Where I part company with the left is I don’t believe in socialism. I don’t believe in equality of outcomes.

☆ Explainer: What is the Northern Ireland protocol?
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +5 min

[1/3] A truck parked beside a 'money changed' sign is seen on the border between Northern Ireland and the Republic of Ireland near Jonesborough, Northern Ireland, October 13, 2021. WHAT IS THE NORTHERN IRELAND PROTOCOL? Northern Ireland also remains part of the UK's customs territory, effectively creating a customs border in the sea between Britain and Northern Ireland. The protocol specifies those EU regulations and directives with which Northern Ireland must remain aligned, and means new EU acts may be added to those that apply in Northern Ireland. The Northern Ireland Protocol bill, if passed by parliament, would give the British government the power to unilaterally decide to all but renege on the agreement.

☆ Explainer: Talks on post-Brexit Northern Ireland trade edge closer to deal
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +5 min

WHAT IS THE NORTHERN IRELAND PROTOCOL? Northern Ireland also remains part of the UK's customs territory. That effectively created a customs border in the sea between Britain and Northern Ireland, which pro-British communities say erodes their place within the UK. The Democratic Unionist Party (DUP), Northern Ireland's biggest unionist party, also says the province should not have to follow laws without having a say. According to so-called dynamic alignment, this also means that any new EU acts may also be added to those that apply in Northern Ireland.

☆ Twitter sued over $1.9 million invoice that advisory firm Innisfree M&A claims went unpaid
▼ + stars: | 2023-02-05 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

Innisfree M&A claims it was hired to facilitate communications between Twitter and shareholders last year. After Musk's acquisition was finalized, Innisfree sent Twitter an invoice for $1.9 million, which was "processed" a month later. The suit claims Twitter has not responded to Innisfree's invoice and letters since December. The lawsuit is the latest in a string of recent legal and regulatory challenges filed against Twitter, including accusations of unpaid rent, and another unpaid bill from a private jet company, among others. Another San Francisco landlord sued over about $130,000 in unpaid rent in early January, and a real estate company belonging to King Charles III also sued Twitter over unpaid rent at a London office.

Christopher Gregory/Getty ImagesDonald McGahn, Trump campaign counsel: I was at the top. Trump's 2016 campaign aides said they paid about 50 people, including part-time actors, to appear as supporters for his 2016 campaign announcement. Corey Lewandowski, Trump campaign managerCorey Lewandowski: I called my wife just as we were getting onto the plane. Stuff that would be from Mars on any other campaign was perfectly normal for the Trump campaign. Mark J. Terrill/AP photo Show less Trump at the Republican National Convention while Cruz speaks on July 20, 2016.

☆ Carl Icahn, David Einhorn, and Dan Loeb bet big on Elon Musk ultimately buying Twitter - and likely raked in profits when the deal closed
▼ + stars: | 2022-11-15 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Carl Icahn, Dan Loeb, and David Einhorn built sizeable stakes in Twitter last quarter. Icahn and his team amassed 12.5 million Twitter shares, valued at $549 million on September 30. Similarly, Einhorn's Greenlight Capital scooped up 4.3 million shares, worth $188 million at the end of last quarter. It snapped up 5.5 million shares worth $241 million on September 30. It also purchased bullish call options on 34,000 shares, and bearish put options on 1.1 million shares.

☆ 2022 likely to be deadliest year for Palestinians in the occupied West Bank, U.N. says
▼ + stars: | 2022-10-29 | by ( Associated Press | ) www.nbcnews.com time to read: +6 min

The U.N. Mideast envoy said 2022 is on course to be the deadliest year for Palestinians in the occupied West Bank since the U.N. started tracking fatalities in 2005, and he called for immediate action to calm “an explosive situation” and move toward renewing Israeli-Palestinian negotiations. Wennesland said the month saw “a spike in fatal violence” that has 2022 on track to be the deadliest in the West Bank. More than 125 Palestinians have been killed in Israeli-Palestinian fighting in the West Bank and East Jerusalem this year. Ongoing Israeli arrest raids in the West Bank pose a serious challenge to Palestinian President Mahmoud Abbas’ Palestinian Authority. The Palestinians want the West Bank to form the main part of their future state.

☆ Cuba hosts first U.S. business conference in years, seeks investment
▼ + stars: | 2022-10-26 | by ( Marc Frank | ) www.reuters.com time to read: +3 min

[1/3] Cuba's Deputy Minister of Foreign Affairs Carlos Fernandez de Cossio listens to Phil Peters, founder of FocusCuba, during a conference in Havana, Cuba, October 26, 2022. "Almost everything we do is with the new booming private sector," said Cuban-American Hugo , whose Miami-based Fuego Enterprises Inc (FUGI.PK) operates an online food market that processes 4,000 orders in Cuba per day. "It is important American businesses see this for themselves," said Cancio, who was attending the conference. The Biden administration has loosened some restrictions on Cuba around remittances, tourism and migration. It has also expressed interest in supporting Cuba's private sector.

☆ The econ Nobel offers a timely warning about central banks’ power
▼ + stars: | 2022-10-10 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

New York CNN Business —The Nobel in economics is sort of the step-cousin of the Nobel family. Some scholars really dislike the economics prize, including one of Nobel’s own descendants, who dismissed it as a “PR coup by economists.”But hey, it still comes with a cash prize. In short, his work demonstrates that banks’ failures are often a cause, not merely a consequence, of financial crises. The Nobel committee has been known to play politics (see: that time Barack Obama was awarded the Nobel Peace Prize after being in office for just eight months). And right now, it is using its spotlight to call attention to the high-stakes gamble playing out at central banks around the world, most notably the Fed.

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