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☆ AI deals give investment banks a glimmer of hope
▼ + stars: | 2023-09-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

About a third of all M&A deals in the first half of 2023 were technology deals, and a lot of that was related to AI, said Berlin. The success of these deals mean more M&A is likely on the horizon, said Dan Ives, a tech analyst at Wedbush. Costco members now have access to $29 online health care visitsCostco is known for its giant tubs of mac and cheese, cheap hotdogs and more-for-less warehouse deals. The retailer is offering the new service in partnership with Sesame, a direct-to-consumer health care marketplace that connects medical providers nationwide with consumers. Costco is among several retailers, including Amazon, CVS and Walgreens, who are directly providing health care to customers as the demand booms for urgent care access outside of a traditional hospital setting.

Persons: CNN —, Goldman Sachs, Goldman, ” Goldman, David Solomon, Instacart’s, ”, Mitch Berlin, “ You’re, Dan Ives, ” Ives, Taavon Naja, Ramishah Maruf, Parija Kavilanz, Sesame Organizations: CNN Business, Bell, CNN, Wall, Companies, Renaissance, Nasdaq, Cisco, Wedbush, of Foreign, Control, Costco, Costco Pharmacy’s, Amazon, CVS, Walgreens Locations: Americas, Berlin, Iran, Switzerland, United States, PFAS, New York

☆ US new home sales tumble in August
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +3 min

New home sales plunged 8.7% to a seasonally adjusted annual rate of 675,000 units last month, the Commerce Department said on Tuesday. July's sales pace was revised higher to 739,000 units from the previously reported 714,000 units. Economists polled by Reuters had forecast new home sales, which account for a small share of U.S. home sales, falling to a rate of 700,000 units. New home sales are counted at the signing of a contract, making them a leading indicator of the housing market. At August's sales pace it would take 7.8 months to clear the supply of houses on the market, up from 7.0 months in July.

Persons: Octavio Jones, Freddie Mac, Lucia Mutikani, Andrea Ricci Organizations: REUTERS, Rights, U.S, Commerce Department, Reuters, Treasury, Federal Reserve, Data, National Association of Home Builders, Thomson Locations: Tampa , Florida, U.S, Wells Fargo, West, Midwest, Northeast

Demonstrators hold placards next to a banner as they attend a protest against the sharing of Cauvery river water with neighbouring Tamil Nadu state, in Bengaluru, India, September 26, 2023. Schools and colleges were shut in the capital of the southern state of Karnataka, home to more than 3,500 tech companies. "I can shed my blood but I don't want to give water to Tamil Nadu," said one protester, Ravi Mallikarjuna. The delay provoked small demonstrations near a railway station in Tamil Nadu. The Cauvery river originates in the Karnataka region of Talakaveri, flowing through Tamil Nadu into the Bay of Bengal.

Persons: Dhanya, Santosh Babu, Ravi Mallikarjuna, Shivakumar, Ramachandra, Rupam Jain, Miral Fahmy, Clarence Fernandez Organizations: REUTERS, Inc, Walmart, Police, Farmers, Google, Schools, Supreme, Tamil, Ecological Sciences, Indian Institute of Science, Thomson Locations: Tamil Nadu, Bengaluru, India, BENGALURU, India's, Karnataka, Farmers, Bengal

☆ Australia's Byron Bay limits Airbnb-like rentals amid housing crisis
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Sept 26 (Reuters) - Popular Australian tourist destination Byron Bay will limit the availability of some properties for short-term holiday rentals, as authorities try to free up homes for residents amid a nationwide housing crisis. Byron Bay is a beachside destination popular with tourists and celebrities, and was featured in a Netflix reality TV series. "It's well known there has been an undersupply of housing, particularly affordable and diverse housing across the Byron Shire for many years," NSW planning minister Paul Scully said in a statement announcing the policy. "In the current housing crisis, it's important every available means to boost housing stock for the community is utilised." Parts of Byron Bay and nearby Brunswick Heads with "high tourism appeal" will continue without caps.

Persons: Byron Shire, Byron Bay, Chris Hemsworth, Paul Scully, Lewis Jackson, Miral Organizations: Popular, Melbourne, Netflix, Thomson Locations: Popular Australian, Byron, New South Wales, Victoria, NSW, Byron Bay, Brunswick, Australia, Berlin, Barcelona

☆ How could hardline US House Republicans strip Kevin McCarthy of his speakership?
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +3 min

If the motion to vacate comes to the House floor for a vote, it would only need a simple majority to pass. Republicans currently control the House with 221 seats to 212 Democrats, meaning if McCarthy wants to keep his speaker's gavel he cannot afford to lose more than four votes. Republican Representative Matt Gaetz, a hardline conservative from Florida and perpetual thorn in McCarthy's side, has repeatedly threatened to file a motion to vacate. In a Sept. 14 closed-door meeting of House Republicans, McCarthy dared Gaetz to bring a motion to the floor. Republican then-Representative Mark Meadows in 2015 filed a motion to vacate against Republican Speaker John Boehner.

Persons: Kevin McCarthy, Joe Biden, Hunter Biden, what's, McCarthy, McCarthy's, Nancy Pelosi, Matt Gaetz, Gaetz, Dan Bishop, Eli Crane, Joseph Cannon, Newt Gingrich, Mark Meadows, John Boehner, Boehner, Moira Warburton, Scott Malone, Rosalba O'Brien Organizations: Republican U.S . House, Democrat, Republicans, Democratic, WHO, Republican, House Republicans, House Archives, Thomson Locations: Washington , U.S, WASHINGTON, Florida

Those findings come from a study released last week by Hispanics in Philanthropy, an organization that works to advance Latino giving, and the Indiana University Lilly Family School of Philanthropy. How long immigrants lived in the United States also affected giving rates: Long-established immigrants largely gave at higher rates, especially to religious congregations, than recent immigrants. The importance of relationshipsAna Gloria Rivas-Vázquez, who directs Hispanic giving at Catholic Relief Services, says that while all fundraising is about building relations, it’s particularly important for Latino donors. Though there are commonalities among Latino donors, nonprofit professionals stress U.S. Latinos are highly varied in culture, politics, education, and income. “There was a time when people thought that engaging Latino donors meant: OK, we need to do this in Spanish,” Rivas-Vázquez says.

Persons: Indiana University Lilly, Una Osili, ”, Osili, Lilly, Gigi Pedraza, “, Armando Zumaya, Somos El, aren’t, Ana Gloria Rivas, Vázquez, ” Rivas, Ana Marie Argilagos, ” Argilagos, Zumaya, it’s, Kay Dervishi Organizations: Indiana University, Indiana University Lilly Family School of Philanthropy, Lilly School, Bank of America, Latino Community Fund, Catholic Relief Services, Associated Press, AP Locations: United States, Georgia, Somos El Poder

Consumers are growing more pessimistic about future prospects for the economy, according to the latest survey from the Conference Board released on Tuesday. “Consumer confidence fell again in September 2023, marking two consecutive months of decline,” said Dana Peterson, chief economist at the business organization. “September’s disappointing headline number reflected another decline in the expectations index, as the present situation index was little changed. “Write-in responses showed that consumers continued to be preoccupied with rising prices in general, and for groceries and gasoline in particular,” Peterson added. “Consumers also expressed concerns about the political situation and higher interest rates.

Persons: ”, Dana Peterson, “, ” Peterson, “ Consumers, Kelly Mangold, Lisa Sturtevant Organizations: Conference, “, Federal Reserve, Census Bureau, U.S . Department of Housing, Urban Development, Real Estate Consulting, MLS, American Financial Corporation

☆ Explainer-How Could Hardline US House Republicans Strip Kevin McCarthy of His Speakership?
▼ + stars: | 2023-09-26 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +3 min

If the motion to vacate comes to the House floor for a vote, it would only need a simple majority to pass. Republican Representative Matt Gaetz, a hardline conservative from Florida and perpetual thorn in McCarthy's side, has repeatedly threatened to file a motion to vacate. In a Sept. 14 closed-door meeting of House Republicans, McCarthy dared Gaetz to bring a motion to the floor. Others including Representatives Dan Bishop and Eli Crane have also suggested they would support a motion to vacate. Republican then-Representative Mark Meadows in 2015 filed a motion to vacate against Republican Speaker John Boehner.

Persons: Kevin McCarthy, what's, McCarthy, McCarthy's, Nancy Pelosi, Matt Gaetz, Gaetz, Dan Bishop, Eli Crane, Joseph Cannon, Newt Gingrich, Mark Meadows, John Boehner, Boehner, Moira Warburton, Scott Malone, Rosalba O'Brien Organizations: WASHINGTON, Republican U.S . House, Democrat, Republicans, Democratic, WHO, Republican, House Republicans, House Archives Locations: Florida

Home prices rose 0.6% in July, holding their own amid high mortgage rates and a low supply of houses for sale, according to the S&P CoreLogic Case-Shiller Index released on Tuesday. On an annual basis, the national index is now up 1% from a year ago. “Areas in the Midwest continue to lead the national gains given their relative affordability. Markets that saw home prices reset following the recent surge in mortgage rates are expected to see stronger gains over the next 12 months, particularly those in the West,” Hepp added. While mortgage rates that have recently topped 8% for a 30-year fixed rate loan are dampening demand, a shortage of homes for sale is keeping prices high.

Persons: ”, Craig J, Lazzara, ” Selma Hepp, ” Hepp, Today’s, Danielle Hale, “ Locations: Chicago, Cleveland, New York

☆ SoftBank Corp to raise $800 mln from bond-type shares in Japan first
▼ + stars: | 2023-09-25 | by ( Anton Bridge | ) www.reuters.com time to read: +3 min

The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. SoftBank Corp, the Japanese telecommunications arm of tech investment giant SoftBank Group (9984.T), first proposed the issuance in May, but board approval only came on Monday. The shares will be listed on the Tokyo Stock Exchange on Nov. 1, with pricing expected between Oct. 13 and 17. Although classed as equity in accounting terms, the shares offer a set dividend and can be redeemed by SoftBank after a period of five years. As the shares will be publicly listed, they can be purchased through the tax-efficient Nippon Individual Savings Account (NISA), unlike corporate bonds.

Persons: Issei Kato, SoftBank, Urvi, Anton Bridge, Mariko Katsumura, Kim Coghill, Mark Potter Organizations: SoftBank, REUTERS, SoftBank Corp, Tokyo Stock Exchange, Bankers, Savings, Thomson Locations: Tokyo, Japan, Japan's, Bengaluru, Anton

REUTERS/Joshua Roberts Acquire Licensing RightsSept 25 (Reuters) - It's a now-familiar dance: Federal Reserve officials signal to the world that interest rates are not dropping anytime soon. Forecasts published on Wednesday by the U.S. central bank showed that a majority of its policymakers see the Fed's benchmark overnight interest rate ending this year at 5.6%, which implies one more interest rate hike in the next three months. They also now anticipate an end-of-2024 policy rate of at least 5.1%, half a percentage point higher than they projected three months ago. Meanwhile, interest rate futures contracts continue to price in only about a 50% chance of further tightening in 2023, and see a 4.65% policy rate by the end of next year. THE FED'S OWN UNCERTAIN FORECASTSFed policymakers plan to stop raising interest rates once they are convinced inflation is headed down to the central bank's 2% target.

Persons: Joshua Roberts, Preston Caldwell, Jerome Powell, Powell, Morgan Stanley, Ann Saphir, Dan Burns, Paul Simao Organizations: Federal Reserve, REUTERS, Financial, U.S, Fed, Morningstar, Securities, United Auto Workers, Detroit automakers, Reuters, Thomson Locations: Washington , U.S, U.S

Due to the competitive real estate market, even in small-town Kansas, homes only stayed on the market for a matter of days at most. Our competition responded first, by keeping their offer as it was but waived their right to have the house inspected before closing. Perhaps for a moment we wondered if we should have also waived our inspection and saved that money. In fact, while we were buying our house, a relative was having a similar foundation problem repaired to the tune of $15,000. Check today's average mortgage rates and learn more about the amount of house you may be able to afford.

Persons: Kansas, Ian, didn't, We're Locations: Utah, Kansas

☆ Explainer: What's at stake in Telecom Italia grid deal?
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +3 min

TIM is selling NetCo, a venture comprising both TIM's domestic fixed-access network and international wholesale telecoms operator Sparkle. TIM's landline network covers nearly 89% of the country's households and its fibre cable stretches over 23 million kilometres across the country. Beyond TIM's grid, a second major network is being rolled out by Open Fiber, a company controlled by CDP and Australian investment group Macquarie. There had long been talks of trying to combine TIM's network with Open Fiber but competition concerns have hampered such a deal so far. With its 24% voting stake, Vivendi could throw a spanner in the works at any TIM shareholder meeting to vote on a deal or challenge it in the courts.

Persons: Yara, Pietro Labriola's, Giorgia, Elvira Pollina, Keith Weir, Anil D'Silva Organizations: REUTERS, KKR, Italian Treasury, Telecom Italia's, TIM, WHO, Vivendi, Treasury, Trade, Macquarie, Thomson Locations: Rome, Italy

McCarthy, though, has stopped short of committing to putting a Senate-passed short-term spending bill on the floor, knowing that doing so could mean a call for his ouster. During a call with the Republican conference Saturday afternoon, McCarthy pushed members to rally around a short-term spending bill that includes funds for border security. That would give House Republicans a position from which to begin negotiations with the Senate. It’s taking away leverage from House Republicans,” said GOP Rep. Garret Graves of Louisiana. But House Republicans marked their bills up at far lower levels after a rebellion from conservatives.

Persons: Kevin McCarthy, McCarthy, ”, Patrick McHenry of, McCarthy’s, ” McCarthy, He’s, Donald Trump, “ Don’t, Andy Biggs, Chuck Schumer, “, Kevin, I’m, Sen, Joe Manchin, I’ve, Chip Roy, It’s, Garret Graves, haven’t, ” Roy, Marc Molinaro, “ I’m, ” Molinaro, Schumer, eying, Mitch McConnell, McConnell, ” Schumer, CNN’s Manu Raju, McHenry, Mike Lawler, Republicans don’t, ” Lawler, Brian Fitzpatrick, Josh Gottheimer Organizations: CNN, Republican, Republicans, Democratic, Senate, Truth, Department of Justice, ” Republican, GOP, Defense, Agriculture, Homeland Security, House Republicans, Saturday, ”, “, House, Biden Locations: Patrick McHenry of North Carolina, Arizona, Ukraine, West Virginia, Texas, State, Garret Graves of Louisiana, New York

☆ 3M agrees to pay almost $10 million to settle apparent Iran sanctions violations
▼ + stars: | 2023-09-25 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

CNN —3M has agreed to pay almost $10 million to settle apparent violations of Iranian sanctions, the US Office of Foreign Assets Control said last week. The agency said 3M had 54 apparent violations of OFAC sanctions on Iran. One US person employed by 3M Gulf, a subsidiary in Dubai, was “closely involved” in the sale, OFAC said. OFAC notes Iranian law enforcement stands accused of human rights violations both in Iran and Syria. 3M voluntarily self-disclosed the apparent violations after discovering the sale hadn’t been authorized, according to OFAC.

Persons: Taavon Naja, OFAC, ” OFAC, “ Organizations: CNN, of Foreign, Control, 3M, Law Enforcement Forces, “ Locations: Iran, Switzerland, Dubai, Syria, United States, PFAS

☆ Companies turn to crisis PR firms when money, reputation is at risk
▼ + stars: | 2023-09-24 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +12 min

“A scandal breaking on a Tuesday is very different than one breaking on a Friday, because on Tuesday you’re going to have the rest of the week for stories to drop and snowball. You need to stick with the stance you’re taking, and it might mean you’re going to lose a subset of your audience. Dylan Mulvaney/InstagramThe most prominent case study experts pointed to was the Bud Light public relations fiasco in April, when America’s erstwhile No. “Oftentimes, now, the bigger risk is the social media spread.”“Prior to social media, people felt less empowered to share their opinions,” said Jennings. Often for crisis communication, you’re not trying to counter the reality, you’re trying to counter the perception.”However, as much as social media stokes the flames of PR crisis, the platforms can be effective mitigation tools.

Persons: “, ”, Ben Kaplan, ’ ”, Lauren Jennings, Alison Brod, Jennings, Rather, Evan Nierman, Deborah Hileman, Kaplan, we’re, We’re, Nierman, Dylan Mulvaney, Bud Light, Bud, influencer Dylan Mulvaney, Mulvaney, Bud Light’s, Brendan Whitworth, ” …, you’re, Johnson, ” “, stokes, that’s Organizations: CNN, Top Agency, Alison Brod Marketing, Communications, Institute for Crisis Management, InBev, Anheuser, Busch, Facebook, YouTube Locations: “

☆ The era of America's subminimum wage for tipped restaurant workers may be ending
▼ + stars: | 2023-09-23 | by ( Tim Mullaney | ) www.cnbc.com time to read: +12 min

After a months-long public campaign that began shortly after Mayor Brandon Johnson (right) took office in May, advocates reached a deal with restaurant industry lobbyists to phase out the tipped-minimum wage over five years. "The closest pending victory is in Chicago," said Saru Jayaraman, founder and president of the advocacy group One Fair Wage. Three-fourths said they would reduce the number of tipped workers on their payroll, and nearly half said the cuts would be significant. The $9.48 an hour wage most workers got cost the restaurant $5,449.61, he said, a fraction of the $17,198 in tips workers earned. That's one reason why the restaurant industry engaged in a kind of bidding war against itself, to find a compromise solution that politicians like Alderman Carlos Ramirez Rosa, Johnson's floor manager in the City Council, would buy.

Persons: Brandon Johnson, Scott Weiner, Covid, Hornick, Danny Meyer, Meyer, Chicago –, Saru Jayaraman, Michael Hornick hasn't, Callahan, That's, Weiner, Rick Rick Bayless, Topolobampo, Bayless, He's, –, We've, We're, Johnson —, Democratic Socialist Alliance —, Alderman Carlos Ramirez Rosa, Sam Toia, Rosa Organizations: U.S . Department of Labor, Chicago, Illinois Restaurant Association, City Council, Chicago's, Wrigley, Farm, Frontera Grill, Michelin, Covid, Bar, Frontera, Frontera Group, Democratic Socialist Alliance, Chicago Sun, Times, Times , Illinois Restaurant, CNBC, Sun Locations: downtown, Chicago, York, Covid, Lakeview, Evanston, Frontera, Johnson's, City, Times ,

☆ Home values could collapse as rising climate dangers wreak havoc on insurance markets, study says
▼ + stars: | 2023-09-22 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

US home values could collapse as climate change boosts insurance costs, a study from First Street Foundation said. First Street estimated that 39 million homes are still insured at prices that don't match the climate risks they face. Either way, insurance costs are rising, and First Street estimated the impact they will have on a home's value by way of its income potential. For example, a home in California currently valued at $296,000 would see a 39% drop after repricing for estimated insurance risk. Still, despite the climate risks, the housing affordability crisis has boosted migration to areas vulnerable to floods, wildfires, and extreme heat.

Organizations: First Street Foundation, First, Service, Foundation Locations: Wall, Silicon, California, West Palm Beach , Florida, Louisiana, Plaquemines Parish

The average interest rate for all credit card accounts hit 20.68% in May, the highest on record, according to most recent Federal Reserve data. "But credit cards do charge the highest interest rates of any mainstream consumer debt [by far]," he wrote in an e-mail. This is why it's so important to prioritize credit card debt payoff." Total credit card debt topped $1 trillion in the second quarter of 2023 for the first time ever. "Whenever the Fed has raised interest rates as they have, something usually tips or fails," he said.

Persons: Barry Glassman, Ted Rossman, Cardholders, Glassman, CreditCards.com, Rossman, Bankrate Organizations: CreditCards.com, Federal Reserve, Wealth, Westend61, Getty, Federal Reserve Bank of New, Silicon Valley Bank, Signature Bank Locations: Vienna , Virginia, North Bethesda , Maryland, Federal Reserve Bank of New York, Silicon, U.S

☆ States announce major push to get to 20 million installed heat pumps, a cleaner alternative to gas furnaces that also provide AC
▼ + stars: | 2023-09-21 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +5 min

A coalition of 25 state governors announced a major push to reach 20 million deployed heat pumps by 2030, they said in New York City on Thursday. Heat pumps are energy efficient replacements for fossil fuel powered furnaces and air conditioners. Heat pumps can also save consumers money -- around $300 a year in the United States, according to the IEA. In places like Europe, where gas prices are higher, having a heat pump can save customers around $900 a year, the IEA says. Maine, for example, has been remarkably successful in installing heat pumps with its own legislative action.

Persons: Matt Johnson, Jay Inslee, Inslee, Kathy Hochul, Ali Zaidi, Zaidi Organizations: Energy, RMI, International Energy Agency, IEA, U.S . Climate Alliance, Washington, Washington State Department of Health, Brookings Institution, New, Infrastructure Investment, Jobs Locations: New England, Windham , Maine, New York City, United States, Europe, U.S, Washington , New York, California, Seattle , Washington, Seattle, Georgia, it's Maine, Maine

US President Joe Biden and Ukrainian President Volodymyr Zelenskyy shake hands during an expanded bilateral meeting in the East Room of the White House in Washington, DC, on September 21, 2023. The U.S. will provide Ukraine with an additional $325 million in military aid, President Joe Biden announced Thursday during a White House meeting with Ukrainian President Volodymyr Zelenskyy. Before the meeting began in the Oval Office, Biden and Zelenskyy gave brief remarks to the press. In Washington, Zelenskyy met for a little more than an hour with senators on Capitol Hill. Zelenskyy visited Washington in December and delivered an address to a joint meeting of Congress.

Persons: Joe Biden, Volodymyr Zelenskyy, Abrams, Biden, Amanda Sloat, Andrea Mitchell, Sloat, Zelenskyy, Jake Sullivan, Antony Blinken, Kamala Harris, Defense Lloyd Austin, Kevin McCarthy, McCarthy, Zelensky, Sen, Mike Rounds, Zelenskyy's, Cynthia Lummis, Rounds Organizations: White, Washington , D.C, National Security Council, Office, Russia, Pentagon, Defense, United Nations General Assembly, Punchbowl News, NBC, Republicans, Management, Shalanda Young, Wall Street, Capitol, General Assembly, NATO, Department of Defense Locations: Washington ,, U.S, Ukraine, Europe, Ukrainian, Washington, Russia, New York City, Zelenskyy, Ukrainians, Vilnius, Lithuania

When David C. Weiss, the U.S. attorney in Delaware, asked for special counsel status, the Justice Department says Mr. Garland approved his request quickly. A widely respected federal judge before becoming attorney general, Mr. Garland has become a favorite target of House Republicans after the Justice Department launched investigations that resulted in felony charges against former President Donald J. Trump. At the heart of the issue are assurances Mr. Weiss and Mr. Garland have given to lawmakers that Mr. Weiss had ultimate authority over the Hunter Biden case and when and where to bring charges. But they have vouched generally for the statements about Mr. Weiss’ limited authority, describing a more nuanced scenario in which Mr. Weiss had sought to partner with prosecutors in Washington, D.C., and California, only to be rebuffed, causing him to try a different approach. When Mr. Weiss eventually asked for special counsel status, the Justice Department says Mr. Garland approved his request quickly.

Persons: David C, Weiss, Garland, General Merrick B, Donald J, Biden’s, Hunter, Justice Department hadn’t, Kevin McCarthy, David Weiss, Merrick Garland’s weaponization, Biden, Hunter Biden, Gary Shapley, “, Kenny Holston, Shapley’s, Shapley, Weiss ’ Organizations: Justice Department, Republicans, Trump, Twitter, “ U.S, Committee, DOJ, Veteran, New York Times, Washington , D.C, Departmental Locations: U.S, Delaware, Washington ,, California

☆ House Foreign Affairs Committee will hold a hearing next week on repealing the law that made the 2003 Iraq invasion possible
▼ + stars: | 2023-09-20 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

The House Foreign Affairs Committee will hold a hearing next Thursday on AUMFs. That tees up a potential repeal of the more than 20-year-old law, which authorized the Iraq war. The Senate easily passed a bill to do just that earlier this year, but it's stalled in the House. AdvertisementAdvertisementThe effort to repeal the Iraq war powers has been stalled for months in the House, largely owing to the opposition of defense-minded Republicans on key committees. But dozens of House Republicans also voted for the bill.

Persons: it's, Leslie Shedd, Ken Buck, Gregory Meeks, Saddam Hussein Organizations: Foreign Affairs, Senate, Service, Iraq, Caucus, House Republicans, Republican Rep, Democratic, Democrats, Republicans, ISIS Locations: Iraq, Wall, Silicon, United States, Colorado, New York

☆ Global debt stock hit a record $307 trillion in the first half of 2023, top trade body says
▼ + stars: | 2023-09-20 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

The global debt-to-GDP ratio now sits at around 336%, which is up from 334% in the fourth quarter of 2022, the report said. The ratio had experienced seven consecutive quarters of decline, before resuming its upward trajectory in the first half of 2023. The stock of global debt rose $10 trillion in the first half of 2023, bringing it to a new record high of $307 trillion, according to a report by the Institute of International Finance released Tuesday. Worldwide spikes in inflation were the main factor causing the decline in debt ratio, helped by higher borrowing costs and tighter lending standards. Consumer debt meanwhile remains "largely manageable" in mature markets, the IIF said, with the household debt ratio dropping to its lowest level in two decades in the first half of 2023.

Persons: — Organizations: Institute of International Finance, Federal, Group Locations: U.S, Japan, France, China, India, Brazil

☆ Winter expected to be costlier for those who heat with oil. But natural gas heat users will finally get a break.
▼ + stars: | 2023-09-20 | by ( Tami Luhby | ) edition.cnn.com time to read: +4 min

New York CNN —After several years of skyrocketing winter heating costs, millions of Americans are expected to finally get a little relief this coming season — if they heat their homes with natural gas, that is. “This is the first year many families will get a break,” said Mark Wolfe, the association’s executive director, referring to the projected drop in natural gas heating costs. Electricity, which is the second most common source of heat, is projected to cost an average of $1,374, up 1.2%. The federal Energy Information Administration is expected to release its winter heating cost outlook next month. Home heating is still priceyAmericans are gearing up for the winter heating season just as rising gas prices have strained their finances.

Persons: walloped, ”, Mark Wolfe, ” Wolfe, Wolfe, “, Monette Ferguson, Ferguson Organizations: New, New York CNN, National Energy Assistance, Association, federal Energy Information Administration, “, Low Income, Energy Assistance, Senate, Alliance for Community Empowerment Locations: New York, Russia, Saudi Arabia, New England, Connecticut

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