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☆ Fan and support alligator Wally denied entry into Phillies game
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +1 min

Apr 8, 2022; Philadelphia, Pennsylvania, USA; General view as players and fans stand for the anthem before an opening day game between the Philadelphia Phillies and the Oakland Athletics at Citizens Bank Park. Mandatory Credit: Bill Streicher-USA TODAY Sports/File Photo Acquire Licensing RightsSept 28 (Reuters) - A Philadelphia Phillies fan and his emotional support alligator Wally were denied entry into a Major League Baseball game against the Pittsburgh Pirates on Wednesday. The fan, identified by the Philadelphia Inquirer as Joie Henney, arrived at Citizens Bank Park walking Wally on a leash, claiming the nearly five-foot alligator as his service animal. The stadium's policy on support animals on the Phillies official website states: "Certified service dogs or service dogs in training for guests with special needs are welcome. In 1945, William Sianis put a curse on the Chicago Cubs when he and his goat were denied entry into a World Series game.

Persons: Bill Streicher, Wally, Henney, William Sianis, Sianis, Steve Keating, Ken Ferris Organizations: Philadelphia Phillies, Oakland Athletics, Citizens Bank, Major League Baseball, Pittsburgh Pirates, Philadelphia Inquirer, Phillies, Chicago Cubs, Cubs Locations: Philadelphia , Pennsylvania, USA, Toronto

☆ Harry Styles, Bjork and celebrating fashion’s rebels
▼ + stars: | 2023-09-25 | by ( Zoe Whitfield | ) edition.cnn.com time to read: +6 min

Bjork wearing a Marjan Pejoski swan dress — complete with egg, laid on the red carpet — to the 2001 Academy Awards in Los Angeles. “Christopher Kane’s amazing neon dresses were made of lace, lingerie and elastic bought at a market in east London,” she explained. Style.com, as a resource, had a huge impact – immediately designers could understand how many people they were reaching,” said Lewin. Those technological shifts had an enormous impact.”The exhibition features clothing and fashion ephemera from the past 30 years. “Same as every other creative industry, changes in the education system and the cost of living have ripple effects on the way designers function within a city like London,” she said.

Persons: Newgen, Tony Blair, ’, Porter, Bjork, Wally Skalij, Rebecca Lewin —, Sarah Mower —, “ Lee McQueen, ”, Lewin, Alexander McQueen, Andy Stagg, Grace Wales Bonner, JW Anderson, Kim Jones, Mary Katrantzou, Duro Olowu, Richard Quinn, Simone Rocha, McQueen’s, Simon Ungless, Lee, Martine Rose, Charles Jeffrey’s, Nasir Mazhar, Harikrishnan Keezhathil Surendran Pillai, HARRI, Daley’s Liverpool, Steven Stokey, Daley, Pejoski, Sam Smith, Harry Styles, Singer Sam Smith, “ Christopher, you’ve, ‘ Organizations: London CNN, London, Los Angeles Times, Vogue, CNN, British Fashion Council, BFC, Ritz, Central Saint Martins, University of Westminster, London College of Fashion, BRIT, Design Museum Locations: British, Britain, Iraq, Los Angeles, London, Central Saint, India, Macedonia, “

☆ Yellen says U.S. 'soft landing' can weather strike, govt shutdown, student loan risks
▼ + stars: | 2023-09-19 | by ( David Lawder | ) www.reuters.com time to read: +5 min

U.S. Treasury Secretary Janet Yellen speaks during an interview in New York City, U.S., September 18, 2023. President Joe Biden's administration is working to encourage both sides to resolve the strike quickly, Yellen said. The U.S. Treasury market "continues to function pretty well" despite higher rates and some volatility, she said. But nothing that is really out of line with what you would expect given the volatility in the underlying market," Yellen added. CHINA "DE-RISKING"She said China's economic slowdown would have a limited impact on U.S. growth, echoing recent comments from Deputy Treasury Secretary Wally Adeyemo.

Persons: Janet Yellen, Shannon Stapleton, Yellen, Joe Biden's, Biden, Kevin McCarthy, Wally Adeyemo, Gina Raimondo's, David Lawder, Chizu Organizations: Treasury, REUTERS, . Treasury, Reuters, United Auto Workers, Federal Reserve, UAW, Detroit automakers, Republicans, U.S . Senate, U.S . Treasury, Thomson Locations: New York City, U.S, Detroit, United States, CHINA, China

REUTERS/Jonathan Ernst/File Photo Acquire Licensing RightsWASHINGTON, Sept 14 (Reuters) - The Biden administration on Thursday imposed sanctions on five Turkish companies and a Turkish national, accusing them of helping Russia evade sanctions and supporting Moscow in its war against Ukraine. The move is part of a bigger package of measures hitting Russia with sanctions on more than 150 targets, including the country's largest carmaker. The U.S. State Department imposed sanctions on Denkar Ship Construction for providing ship repair services to previously designated vessels of a company connected to the Russian Defense Ministry. The U.S. also imposed sanctions on a major local copper producer - Russian Copper Company. The Treasury slapped sanctions on Finland-based logistics firms Siberica Oy and Luminor Oy, accusing them of sending a wide variety of electronics into Russia.

Persons: Joe Biden, Biden, Jonathan Ernst, reconvenes, Wally Adeyemo, we've, Sanayi, Denkar, Ilker Dogruyol, Dogruyol, Tayyip Erdogan, Humeyra Pamuk, Daphne Psaledakis, Polina Devitt, Gleb Stolyarov, Don Durfee, Alexandra Hudson, William Maclean, Paul Simao Organizations: Cancer, White, REUTERS, Rights, Turkish, Ukraine, Reuters, NATO, Treasury, . Treasury Department, U.S . State Department, Denkar, Russian Defense Ministry, State Department, ID Ship Agency, GAZ Group, Russian Copper Company, Siberica, Luminor, U.S, Kurdistan Workers Party, European Union, United, Thomson Locations: Washington , U.S, Russia, Moscow, Turkey, Washington, Ankara, Sweden, United States, Ukraine, Sea, Turkish, U.S, Finland, Kyiv, Hungary, London

☆ U.S. to sanction five Turkey-based firms over accusations of Russia support
▼ + stars: | 2023-09-14 | by ( ) www.cnbc.com time to read: +2 min

Russian President Vladimir Putin grimaces during his joint press conference with Turkish President Recep Tayyip Erdogan (not pictured), September 4,2023, in Sochi, Russia. Getty ImagesThe Biden administration is set to impose sanctions on five Turkish companies and a Turkish national on Thursday, accusing them of helping Russia evade sanctions and supporting Moscow in its war against Ukraine, a senior Treasury official said. Multiple senior U.S. officials, including Deputy Treasury Secretary Wally Adeyemo, have traveled to Turkey since Russia's February 2022 invasion of Ukraine as part of a pressure campaign to prevent any Turkish companies from helping Russia circumvent U.S. curbs. Wally Adeyemo, deputy U.S. Treasury secretary, speaks during a news conference at the Department of Justice in Washington, D.C., U.S., on Monday, Nov. 8, 2021. "These designations reflect our ongoing commitment to target individuals and entities who provide material support to sanctioned entities," the official added.

Persons: Vladimir Putin grimaces, Recep Tayyip Erdogan, Biden, reconvenes, Wally Adeyemo, Ting Shen, we've Organizations: Turkish, Getty, Treasury, NATO, U.S, Department of Justice, Washington , D.C, Bloomberg Locations: Sochi, Russia, Moscow, Ukraine, Turkey, Washington, Ankara, Sweden, United States, Sea, Washington ,, Turkish

☆ Deputy Treasury Secretary to Visit Nigeria to Bolster Economic Ties
▼ + stars: | 2023-09-13 | by ( Alan Rappeport | More About Alan Rappeport | ) www.nytimes.com time to read: +1 min

The Biden administration is dispatching Wally Adeyemo, the deputy Treasury secretary, to Nigeria next week as it seeks to deepen economic ties with Africa and counter China’s influence on the continent. The United States has been trying to make up lost ground in the geopolitical contest with China and Russia to cultivate relations in Africa. The Biden administration believes Nigeria, a democracy that is rich with natural resources, has the potential to be an economic anchor for the United States on the continent. Several Biden administration officials, including Secretary of State Antony J. Blinken, have visited Nigeria during Mr. Biden’s first term. However, Mr. Adeyemo is a unique emissary: He was born in Ibadan, one of Nigeria’s largest cities, and emigrated with his family to California when he was 2 years old.

Persons: Biden, Wally Adeyemo, Bola Tinubu, Antony J, Biden’s, Adeyemo Organizations: United Locations: Nigeria, Africa, United States, China, Russia, Ibadan, California

☆ The Fine Art of Naming a Group Chat
▼ + stars: | 2023-09-13 | by ( Alyson Krueger | ) www.nytimes.com time to read: +1 min

“The main thing is finding something that makes everybody happy and everybody laugh,” he said. “It has to be something that expresses who we are.”Mr. McLaughlin, 20, is part of so many group chats that each one has to have a name. There is a family chat (“Wally World”), multiple friend chats (“‘The’ group chat™” and “The 4.5 horseman of the apocalypse”) and class chats (Clash, short for Clash of Clans, a game played during Critical Reading and Writing). “I would never have a group chat with no name and just numbers,” he said. He estimated that he has come up with two dozen or more group chat names.

Persons: RJ McLaughlin, ”, Mr, McLaughlin, Wally, “ Organizations: Ramapo College of New Locations: Ramapo College of New Jersey

☆ As China’s economy hits turbulence, a top Treasury official heads to Hong Kong to deepen ties with Beijing
▼ + stars: | 2023-09-12 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

New York CNN —A top US Treasury official is heading to Hong Kong as the White House continues its quest to ease tensions with Beijing and avoid a destabilizing crisis. During the trip, Neiman — the highest-ranking Treasury official to visit Hong Kong since 2019 — plans to meet with government officials, private sector economists and executives from the financial and legal sectors. He is also set to meet with US companies that are members of the American Chamber of Commerce in Hong Kong as well as with students. “Neiman will stress the United States’ focus on securing and advancing our economic and national security interests, along with those of our allies, and protecting human rights,” the Treasury official told CNN. Hong Kong is a semi-autonomous Chinese territory that is also the country’s international financial center.

Persons: Brent Neiman, Neiman, ”, “ Neiman, Ilaria Mazzocco, Joe Biden, Antony Blinken, John Kerry, Janet Yellen, Gina Raimondo, Yellen’s, Biden, Raimondo’s, can’t, Mazzocco, Yellen, Raimondo, “, ’, ” Clayton Allen, ” Allen, ” Nikki Haley, Nikki Haley, CNN’s Jake Tapper, Wally Adeyemo, it’s, ” Adeyemo, CNN’s Poppy Harlow, Andrew King Organizations: New, New York CNN, US Treasury, US, Treasury, CNN, American Chamber of Commerce, Center for Strategic & International Studies, Washington, Apple, Huawei, Eurasia Group, Republican, Future Union Locations: New York, Hong Kong, Beijing, China, States, Washington, West, United States, “ China

☆ Treasury's Adeyemo calls for eliminating subsidies, including to energy companies
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

Jim Lo Scalzo/Pool via REUTERS Acquire Licensing RightsSept 11 (Reuters) - The United States should think about eliminating corporate subsidies, including to energy companies, U.S. Deputy Treasury Secretary Wally Adeyemo said in New York on Monday. Adeyemo defended President Joe Biden's budget proposal for fiscal 2024, noting that achieving fiscal sustainability would include modest tax increases, boosting tax revenue collections and finding other ways to cut costs. "None of us thinks it makes sense to subsidize energy companies in light of how they're doing in this country. But there are probably other subsidies and other things we can do to make the budget more efficient." Adeyemo said he hoped to engage with Republicans in the House of Representatives about the issue, without giving any further details.

Persons: Wally, Adeyemo, Jim Lo Scalzo, Wally Adeyemo, Joe Biden's, Donald Trump's, Republican Ronald Reagan, Bill Clinton, Andrea Shalal, Deepa Babington Organizations: Senate, Treasury, Washington , D.C, REUTERS Acquire, Economic, of New, Big Oil, Republican, Thomson Locations: Dirksen, Washington ,, United States, New York, of New York, Ukraine

Brent crude settled down 1 cent to $90.64 a barrel while U.S. West Texas Intermediate crude settled down 22 cents to $87.29. "Much of this reduced supply has simply served to offset a major slowdown in global oil demand," said Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Illinois. Meanwhile, Europe is expecting a light refinery maintenance season this autumn as refiners look to profit from high margins, which could support crude demand. The IEA last month lowered its 2024 forecast for oil demand growth to 1 million bpd, citing lacklustre macroeconomic conditions. OPEC's August report, meanwhile, kept its 2.25 million bpd demand growth forecast unchanged.

Persons: Brent, Wally Adeyemo, Jim Ritterbusch, Ras Lanuf, Wood Mackenzie, Naeem Aslam, OPEC's, Robert Harvey, Natalie Grover, Florence Tan, Emily Chow, Emelia Sithole, Andrea Ricci, Chizu Organizations: cnsphoto, REUTERS, West Texas, Monday U.S, Ritterbusch, Associates, U.S, Zaye, European Central Bank, International Energy Agency, Organization of, Petroleum, IEA, Thomson Locations: Zhoushan, Zhejiang province, China, Saudi, Saudi Arabia, Russia, United States, Galena , Illinois, U.S, Libya, Zueitina, Brega, Es Sidra, Europe

☆ We should be worried about China's long-term structural challenges, says Treasury's Adeyemo
▼ + stars: | 2023-09-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe should be worried about China's long-term structural challenges, says Treasury's AdeyemoDeputy Treasury Secretary Wally Adeyemo joins 'Squawk Box' to discuss China's economic weakness, whether Xi Jinping is the guy China needs to get them out of their weakness, and more.

Persons: Treasury's, Wally Adeyemo, Xi Jinping Locations: China

☆ A UAW strike could drive up inflation, push Michigan into a recession, and even hurt Biden in the election
▼ + stars: | 2023-09-11 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +6 min

A United Auto Workers union strike could occur as soon as Friday. A 10-day strike could cost the economy $5.6 billion and hurt Biden in the election. A 10-day strike of over 143,000 workers could reduce the nation's gross domestic product by $5.6 billion, AEG found, which could push Michigan into a recession. Despite a lack of inventory, industry profits skyrocketed, even though 2022 was the worst year for sales for the auto industry in over a decade. A UAW strike could damage the Fed's progress in bringing inflation down to its 2% target.

Persons: Biden, Power, Shawn Fain, Fain, Joe Biden's, Wally Adeyemo, Biden's, Brian Sullivan Organizations: United Auto Workers, UAW, Ford, GM, Service, General Motors, Anderson Economic, AEG, Michigan, Deutsche Bank, Reuters, Bloomberg, CNBC Locations: Wall, Silicon, Detroit, Michigan, Wisconsin

☆ Exclusive: Deputy Treasury chief Adeyemo says US well-prepared to weather China headwinds
▼ + stars: | 2023-08-24 | by ( David Lawder | ) www.reuters.com time to read: +2 min

Adeyemo told Reuters during a visit to the Chickahominy Tribe in southeastern Virginia that the Treasury is closely monitoring economic developments in China, where growth is faltering amid a worsening property slump, weak consumer spending and tumbling credit growth. "You're seeing the Chinese economy demonstrate weakness that has global implications. Because of the decisions we've made, we're probably best prepared to deal with the headwinds that this has created," Adeyemo said, referring to the United States. These investments will help the U.S. economy overcome the headwinds created by slower growth and demand in China, the world's second-largest economy, he said. "We're going to continue to monitor what's happening there, but our goal really is to make sure that we take the steps here to make sure the American economy can grow despite the headwinds," Adeyemo said.

Persons: Wally Adeyemo, Adeyemo, we've, we're, David Lawder, Jonathan Oatis Organizations: ., Reuters, Treasury, COVID, U.S, Thomson Locations: PROVIDENCE FORGE , Virginia, U.S, Chickahominy, Virginia, China, United States, Asia, Beijing

☆ Russian troops are running out of equipment and feel 'at war' with their own commanders: experts
▼ + stars: | 2023-08-22 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

Citing Russian military bloggers, an important source of independent information about the Russian military, US think tank The Institute for the Study of War said that the problems extend "along the entire front line." It reported that in one area, Russian forces lacked light vehicles essential for moving equipment around quickly. In the Kherson region in south Ukraine, Russian military requests for boats have not been met, the ISW said, as Ukraine launches attacks across the Dnipro River on Russian defensive positions. Russian forces began experiencing artillery systems shortages and claimed that Russian forces began to receive "outdated" types of long-range gun, it said. But it is facing strong Russian defenses protected by miles of minefields and is experiencing ammunition and equipment shortages of its own.

Persons: Vladimir Putin, Putin, Wally Adeyemo, Russia's, Wagner Organizations: Institute for, Service, Kremlin Locations: Russia, Ukraine, Wall, Silicon, Kherson, Russian, Dnipro

☆ Some of America's poorest communities are landing clean energy projects
▼ + stars: | 2023-08-16 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

This is just one example of a struggling community that has landed a major investment in clean energy since President Joe Biden signed the Inflation Reduction Act into law exactly one year ago Wednesday. The $750 billion law — the largest climate investment in US history — has helped spark a boom in private investment, especially in clean energy, electric vehicles and batteries. Importantly, many of these clean energy projects are set to be built in communities that really need the help. New plants could bring people into the labor force who have been left behind,” the Treasury analysis finds. The $4.4 billion investment is expected to create 300 new jobs and support countless existing ones.

Persons: Joe Biden, —, Wally Adeyemo, ‘, it’s, ” Daniel Yergin Organizations: New, New York CNN, Adams Fork Energy, CNX Resources, Treasury Department, CNN, Honda, LG Energy, Treasury, Bank of America, ” Bank of America, P, P Global Locations: New York, Mingo County , West Virginia, Mingo County, Fayette County , Ohio, Columbus, Marysville , Ohio

☆ Deputy Treasury Secretary weighs in on Biden's clampdown on investment in Chinese tech
▼ + stars: | 2023-08-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeputy Treasury Secretary weighs in on Biden's clampdown on investment in Chinese techDeputy Treasury Secretary Wally Adeyemo joins 'Squawk on the Street' to discuss the U.S. executive order to restrict investment in China, whether diplomatic excursions are now more complex, and more.

Persons: Wally Adeyemo Locations: China

☆ After 17 years at Walmart, I wanted an adventure – so I quit and sold my condo to go live in an RV
▼ + stars: | 2023-07-30 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +4 min

Lee Jeyes left his job as Walmart's head of innovation after almost 17 years. Jeyes sold his condo and most of his belongings to start a new life traveling and working in an RV. In February, I left my job at Walmart as its head of corporate innovation after almost 17 years at the company. I sold or donated most of my possessions — everything from my car to my condo — and bought an RV for $40,000 in May. I then sold my condo for $925,000 in April and freed myself from a mortgage for the first time in a decade.

Persons: Lee Jeyes, Jeyes, I'd, Lee, Wally, Lee Jeyes I've, I'm Organizations: Service, Walmart, Artists Locations: Wall, Silicon, Toronto, Ontario, Canada

A Biden administration source said such conversations with service providers about their requirements have been constant during the implementation of the caps. The price cap bans Western companies from providing services such as transportation, insurance and financing for the oil sold above the cap. Treasury uses a monthly average of prices to calculate the Urals price, which means it may be a while before the Russian oil price can be considered over the cap. 'POLICY PICKLE'The administration, however, is set to move slowly, wary of creating ripples in a market that could send rising global oil prices higher. "But there won't likely be a dramatic change unless oil prices stay high for a while."

Persons: Biden, We’ve, Joe Biden, Wally Adeyemo, Elizabeth Rosenberg, Adeyemo, Ben Cahill, Cahill, Timothy Gardner, Marguerita Choy Organizations: Group, European Union and Australia, Treasury, Foreign Assets, RUSSIA, The State Department, EU, Center for Strategic, International Studies, Thomson Locations: Washington, Ukraine, U.S, Urals, India, China, Russia, Europe, Russian, Eastern

☆ Tubi Is Rewriting the Rules of Black Indie Movies (for Free)
▼ + stars: | 2023-07-12 | by ( Nicolas Rapold | ) www.nytimes.com time to read: +1 min

Over the past few years, Tubi has quietly amassed a thriving collection of Black-led independent movies. “Cinnamon” is the first Tubi premiere under the banner Black Noir Cinema, an initiative led by Village Roadshow Pictures. It’s a nifty standard-bearer: a gas station attendant and aspiring singer, Jodi (Hailey Kilgore), and a pickpocket, Eddie (David Iacono), team up for an inside job. The robbery becomes a self-own when someone from a local crime family — led by Pam Grier — gets killed in the process. They lean hard on the gas station owner, Wally (Damon Wayans), and then zero in on Jodi and Eddie.

Persons: Tubi, Jodi, Hailey Kilgore, Eddie, David Iacono, —, Pam Grier —, Damon Wayans, Bryian Keith Montgomery Jr, doesn’t, there’s, huckster, Wally Organizations: Village Roadshow Pictures

☆ Russia economy: Former CIA chief David Petraeus says US needs to 'tighten the screws'
▼ + stars: | 2023-07-06 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

‘An economy that is hemorrhaging’Western sanctions have not delivered a deathblow to the Russian economy. Some, including economist Larry Summers, argue that economic penalties on Russia haven’t bitten as hard as anticipated because not enough countries have imposed sanctions. Others, like Yale professor Jeffrey Sonnenfeld, say sanctions are “working tremendously” well against Russia. Petraeus praised the Treasury Department’s “very impressive” sanctions campaign, led by Deputy Treasury Secretary Wally Adeyemo. But the former CIA chief noted the complexity involved in modern sanctions, where target countries often find ways to evade restrictions.

Persons: Vladimir Putin, David Petraeus, “ Putin, ” Petraeus, month’s Wagner, Petraeus, Putin, ”, “ They’ve, Larry Summers, Russia haven’t, Jeffrey Sonnenfeld, ” Sonnenfeld, Wally Adeyemo, “, Biden, Washington hasn’t, ’, you’re Organizations: New, New York CNN, CNN, KKR Global Institute, Reuters, US Central Command, CIA, Yale, KKR Locations: New York, Washington, Moscow, Russian, Europe, Russia, “ Russia, Ukraine, Kyiv

☆ The Supreme Court justices paid an average of $42,539 to go to college. Today, they'd have to pay around $320,531.
▼ + stars: | 2023-06-30 | by ( Sarah Al-Arshani | ) www.businessinsider.com time to read: +6 min

The Supreme Court struck down Biden's student loan forgiveness plan. Student loan payments will likely resume in October. For the justices behind the decision, the cost of an undergraduate degree was much cheaper when they were in school. According to EDI, there was a 2,807% increase in the average student loan debt at graduation between 1970 and 2021 before adjusting for inflation. Student loan borrowers gathered at the Supreme Court today to tell the court that student loan relief is legal on January 2, 2023.

Persons: —, Joe Biden's, Biden, Clarence Thomas, Wally McNamee, Samuel Alito, Sonia Sotomayor, Elena Kagan, John Roberts, Ketanji Brown Jackson, Roberts, Jackson, Brett Kavanaugh, Neil Gorsuch, Amy Coney Barrett, Larry French, Thomas, Gorsuch Organizations: Service, Republicans, White, Education Data Initiative, The College of, Princeton University, Harvard, Yale, Columbia University, Rhodes College, Associated Press, AP

☆ Inside China's spy war on American corporations
▼ + stars: | 2023-06-21 | by ( Eamon Javers | ) www.cnbc.com time to read: +6 min

Top intelligence and law enforcement officials in Washington are issuing a stark warning to American companies: The Chinese government wants to replace you. Asked whether the Chinese government wants to compete with or eliminate American companies, FBI Director Christopher Wray told CNBC: "Well, their definition of competing, I think, involves embracing the idea of eliminating." The paid-in foreign investment reached 127.69 billion yuan, up 14.5% year on year. Foreign companies including US investors have been upbeat about the China market and plan to expand in China. Former GE engineer David Zheng and GE Aerospace also declined to comment.

Persons: Christopher Wray, Sen, Marco Rubio, Rubio, Mark Warner, …, Warner, Xu Yanjun, Xu, James Olson, Xu Yanjun's, David Zheng, – CNBC's Katherine Liu, Bria Cousins, Laura Measher, Wally Griffith Organizations: CNBC, American, Democrat, World Trade, Ministry of State Security, GE, Boeing, Honeywell, GE Aviation, FBI, CIA, American Chamber of Commerce, Business Environment, US Department of Commerce, GE Aerospace Locations: Washington, America, U.S, China, Nanjing, Cincinnati, South China, reinvest

☆ Feds pave the way for cities and nonprofits to get climate-bill tax credits
▼ + stars: | 2023-06-14 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +5 min

"For the first time, tax-exempt entities will be able to receive a payment equal to the full value of the tax credit for building qualifying clean energy projects," Podesta said. "That's a game-changer for our ability to spread the benefits of clean energy to every community in America." "The Inflation Reduction Act's biggest tools are tax credits, which provide an unprecedent 10 years of policy certainty for the clean energy sector," Podesta said. Conventionally, states, territories, tribes, local governments and nonprofits have not been not eligible for tax credits, because they do not derive profits from which to deduct the value of a tax credit. Taken together, the two bits of guidance stand to grease the flywheel of climate tech investment already being spurred by the Inflation Reduction Act.

Persons: Podesta, John Podesta, Joe Biden, what's, Wally Adeyemo, Adeyemo, Michelle Moore, Moore Organizations: US Department of Energy, U.S . Department of, Treasury, Internal Revenue Service, Biden, Washington DC, White, IRS, of, Washington , D.C Locations: Medicine Bow , Wyoming, America, Washington, USA, Washington ,, U.S, Baltimore, of Refuge, , Maryland , Illinois, Georgia, New York

☆ ‘Do You Even Want Us to Exist?’ A Bank Chief Fights to Survive.
▼ + stars: | 2023-06-14 | by ( Rob Copeland | ) www.nytimes.com time to read: +1 min

Mr. Vecchione said he had never spoken to Ms. Yellen or her staff before this year, and now he receives check-in calls from the deputy Treasury secretary, Wally Adeyemo. He said he had been asking regulators lately, “Do you even want us to exist?”There is a model for a more concentrated banking sector. In Canada, six banks dominate 90 percent of the market, versus about 50 percent for the six largest banks in the United States. Experts say there is little incentive for banks in Canada to take outsize risks, though there is also relatively little competition, which means borrowers may face higher interest rates. “I don’t think we want to get to the point of six banks, because that would really stifle lending,” said Ben Gerlinger, a regional bank analyst at Hovde Group.

Persons: Jamie Dimon, Janet L, Yellen, Vecchione, Wally Adeyemo, ”, Ben Gerlinger Organizations: JPMorgan, Experts, Hovde Group Locations: Canada, United States

☆ Energy Tax Credits, Meant to Help U.S. Suppliers, May Be Hard to Get
▼ + stars: | 2023-06-09 | by ( Lydia Depillis | ) www.nytimes.com time to read: +1 min

The law offers tax credits that could cover up to 70 percent of a renewable energy project’s cost if it checks several boxes meant to support American workers and communities. The resulting frustration is emblematic of the current stage of climate action: an eye-straining haze of technical rule-making that reflects a tension between urgency and ensuring that the benefits of the energy transition are widely shared. Wally Adeyemo, the deputy secretary of the Treasury, expressed confidence that in combination, the rules would strike that balance. “It isn’t about any one rule, it’s about an ecosystem of rules that have been created under the I.R.A. that put us in a position to go from a country that had underinvested in the clean energy transition to being at the head of the pack.”

Persons: Biden, —, Wally Adeyemo, Mr, Adeyemo Organizations: Treasury Locations: United States

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