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☆ Meta says it won’t punish Trump for attacking the 2020 election results. But the 2024 vote is a different story
▼ + stars: | 2023-01-25 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

New York CNN —Nine minutes after Meta announced that it will allow Donald Trump back on its platforms, the disgraced ex-president was on his own Truth Social app posting about supposed election fraud in the 2020 election. And those content moderation calls are likely to be contentious. For instance, a Meta spokesperson said Trump will be permitted to attack the results of the 2020 election without facing consequences from the company. However, the spokesperson said, if Trump were to cast doubt on an upcoming election — like, the 2024 presidential race — the social giant will take action. But this is only one aspect of the murky content moderation waters that Meta will find itself in.

☆ They Poured Their Savings Into Homes That Were Never Built
▼ + stars: | 2023-01-24 | by ( Isabelle Qian | Agnes Chang | ) www.nytimes.com time to read: +13 min

We talked to four people who emptied their life savings and took out huge loans for homes that have not been completed. “It was a simple dream — to have a home, a family,” Mr. Tang said. Mr. Tang, who works in a restaurant, sold a small place he had out in the countryside. “When I think about the unfinished apartment, it’s as if I’m falling from heaven to hell, ” Mr. Tang said. Homeowners atop one of the unfinished apartment towers call for construction to fully resume.

☆ Make it easier to raise children, say many Chinese after population falls
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +4 min

"Our parents think if they have more children, they can get more care when they grow old. They think raising one child is already very tiring." China is one of the most expensive places to raise a child, beaten only by South Korea, according to the Beijing-based YuWa Population Research. In Australia it was 2.08 times, 2.24 times in France, 2.91 times in Sweden, 3.64 times in Germany, and 4.11 times in the US. By comparison, north Asian countries were the costliest, with Japan 4.26 times, China 6.9 times and South Korea 7.79 times.

☆ Fact Check-Fabricated Elaine Chao tweet about Donald Trump created as satire
▼ + stars: | 2023-01-17 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A fabricated tweet attributed to Elaine Chao, Secretary of Transportation during U.S. President Donald Trump’s administration, has duped some users online into thinking it is real. The screenshot was created by a satirical Twitter account. Trump referred to Chao by a derogatory nickname on Dec. 28 while criticizing her husband, U.S. Senate Minority Leader Mitch McConnell. Chao, who was born in Taiwan, has called the slur a “racist taunt” and asked the media not to repeat it when previously used by Trump (here). Former U.S. Secretary of Transportation Elaine Chao did not post a tweet insulting Donald Trump.

☆ China says it's sending its junior air force pilots to keep an eye on increasing activity by US spy planes
▼ + stars: | 2023-01-17 | by ( Minnie Chan | South China Morning Post | ) www.businessinsider.com time to read: +5 min

Chinese pilots fresh out of training are being deployed to respond to flights by foreign jets. Without giving details about the foreign aircraft, it said the intensive training programme pushed junior pilots to master practical air confrontation skills and countermeasures within a short time. Chinese fighter pilots during combat exercises around Taiwan in August 2022. "I received radar warnings from foreign aircraft soon after heading to the scene, meaning my aircraft was targeted [by air-to-air missiles]." In 2021, large US reconnaissance aircraft conducted around 1,200 close-in spying flights over the South China Sea, the think tank said in a report in March.

☆ McConnell says he's 'got better things to do with my time' than pay attention to Trump criticizing him
▼ + stars: | 2023-01-17 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +3 min

"I've got better things to do with my time," McConnell told a local radio station. "I've got better things to do with my time," McConnell told Kentucky local news radio 840 WHAS, according to Punchbowl News' Andrew Desiderio. Trump recently decried McConnell over his support for a bill that would keep the government funded through September. "Actually, it's quite an honor," McConnell once said of Trump's "Old Crow" insult. McConnell on Tuesday told the local radio station, "I hope we nominate someone who can win."

☆ Egypt Plans Spending Cuts as It Faces Economic Crisis
▼ + stars: | 2023-01-12 | by ( Chao Deng | ) www.wsj.com time to read: 1 min

Bread, rice and cooking oil have been missing from store shelves in Egypt, after the country struggled to pay for imports of basics such as wheat. CAIRO—Egypt plans to cut spending after the International Monetary Fund extended hundreds of millions of dollars in an economic bailout package, as the country struggles to pay off debts accumulated from a decadeslong building boom. Authorities said earlier this week they would delay state projects that required significant U.S. dollars to fund and cut back on travel, training and conferences for officials, according to Egypt’s cabinet.

☆ The tech sector will always be attractive to investors, PwC says
▼ + stars: | 2023-01-11 | 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 EmailThe tech sector will always be attractive to investors, PwC saysRaymund Chao of the professional services firm says the appetite for investing in the technology sector will always be there.

☆ Egyptians Cut Back on Staples as Inflation Rises
▼ + stars: | 2023-01-09 | by ( Chao Deng | Amira El-Fekki | ) www.wsj.com time to read: 1 min

A market vendor sells apples in Alexandria, Egypt. The country’s rising food prices have prompted calls for greater government intervention. As food inflation in Egypt climbed to 30% in November, the government suggested a new way to cut back: eat chicken feet. “Good for the body and the budget,” said the National Nutrition Institute in a December Facebook post.

☆ 2022 was the worst-ever year for U.S. bonds. How to position your portfolio for 2023
▼ + stars: | 2023-01-07 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Interest rates started 2022 at rock-bottom — where they'd been for the better part of the time since the Great Recession. Bond prices move opposite interest rates — as interest rates rise, bond prices fall. Duration is a measure of a bond's sensitivity to interest rates and is impacted by maturity, among other factors. We can see why long-dated bonds suffered especially big losses in 2022, given interest rates jumped by about 4 percentage points. The traditional dynamics of a 60/40 portfolio — a portfolio barometer for investors, weighted 60% to stocks and 40% to bonds — will likely return, advisors said.

☆ Biden, McConnell Kentucky event is a roadmap for White House under new Congress
▼ + stars: | 2023-01-04 | by ( Steve Holland | ) www.reuters.com time to read: +5 min

[1/2] U.S. Senate Republican Leader Mitch McConnell (R-KY) speaks during an event to tout the new Brent Spence Bridge over the Ohio River between Covington, Kentucky and Cincinnati, Ohio, near the bridge in Covington, Kentucky, U.S., January 4, 2023. That's the opposite of what the White House thinks voters want. In a stark sign of the Republican divisions that the White House hopes will work to their advantage, Trump endorsed McCarthy on Wednesday morning, while lobbing a racial slur at McConnell's wife. Biden and McConnell were joined by Senator Sherrod Brown of Ohio, former Ohio Senator Rob Portman, Kentucky Governor Andy Beshear and Ohio Governor Mike DeWine. McConnell was among a handful of Republicans who voted for the infrastructure law while many House Republicans including McCarthy opposed it.

☆ Trump throws Kevin McCarthy a lifeline and warns Republicans to avoid a 'GIANT & EMBARRASSING DEFEAT' in chaotic House Speaker race
▼ + stars: | 2023-01-04 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Trump re-upped his endorsement of Kevin McCarthy to become the next Speaker of the House. House lawmakers are expected to continue voting this afternoon. Until a speaker is selected, lawmakers cannot finish the basic formalities of starting a new Congress, including swearing in members. While Trump continues to boost McCarthy, the former president took another swipe at McConnell. "The harm they have done to the Republican Party is incalculable," Trump said of McConnell and Chao.

☆ Oil set to close higher in 2022, a turbulent year marked by tight supplies
▼ + stars: | 2022-12-30 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

FILE PHOTO: A view shows Chao Xing tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. U.S. West Intermediate crude was at $78.88 a barrel, up 48 cents, or 0.6%, after closing 0.7% lower on Thursday. Brent is set to close 2022 with a 5.76% gain after rising 50.2% in 2021. Also, China’s zero-COVID restrictions, which were only eased in December, squashed oil demand recovery hopes at the world’s No. Looking ahead on supplies, western sanctions will push Russia to divert more crude and refined products exports from Europe to Asia.

☆ Oil set to end turbulent 2022 with second annual gain
▼ + stars: | 2022-12-30 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

FILE PHOTO: A view shows Chao Xing tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. “Next year is set to be another year of uncertainty, with plenty of volatility.”On Friday, Brent crude was up 32 cents, or 0.4%, to $83.78 a barrel by 0915 GMT. So I think oil prices may fall to $60 next year,” he said. Oil’s fall in the second half of 2022 came as central banks hiked interest rates to fight inflation, boosting the U.S. dollar. 2 consumer in 2022 posted its first drop in oil demand for years.

☆ Oil set to end volatile 2022 with second annual gain
▼ + stars: | 2022-12-30 | by ( Laila Kearney | ) www.reuters.com time to read: +2 min

FILE PHOTO: A view shows Chao Xing tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana MeelCrude surged in March with international benchmark Brent reaching $139.13 a barrel, the highest since 2008, after Russia’s invasion of Ukraine upended global crude flows. U.S. crude was set to rise about 5% in 2022, following last year’s gain of 55%. “So I think oil prices may fall to $60 next year..Oil’s decline in the second half of 2022, largely on rising interest rates to fight inflation, boosted the U.S. dollar. The world’s top oil importer and second biggest consumer in 2022 posted its first drop in oil demand for years.

☆ Oil set to end turbulent 2022 modestly higher
▼ + stars: | 2022-12-30 | by ( Florence Tan | Emily Chow | ) www.reuters.com time to read: +3 min

FILE PHOTO: A view shows Chao Xing tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. Brent looked set to end the year with a 7.6% gain, after jumping 50.2% in 2021. So I think oil prices may fall to $60 next year,” he said. Oil prices cooled quickly in the second half this year as central banks across the world hiked interest rates to fight inflation, boosting the U.S. dollar. Also, China’s zero-COVID restrictions, which were only eased in December, squashed oil demand recovery hopes for the world’s No.

☆ New retirement account rules make it easier to tap savings early for emergencies
▼ + stars: | 2022-12-27 | by ( Greg Iacurci | ) www.cnbc.com time to read: +7 min

But they said the rules also amount to another source of so-called "leakage" that run contrary to the overall goal of retirement savings: to build a nest egg for the future. Participants can also access 401(k) savings via loans or non-hardship withdrawals. Non-hardship distributions also hit an all-time high in October — almost 0.9% of participants took one that month, according to Vanguard. And the share of workers taking 401(k) loans rose to 0.9% in October from 0.8% at the beginning of 2022. Beyond the apparent acute financial need among households, hardship withdrawals carry negative repercussions like tax penalties.

☆ Trump blasts Mitch McConnell over passage of government funding bill, claiming 'Democrats must have something really big' on him
▼ + stars: | 2022-12-26 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +4 min

Trump blasted McConnell over Congress' recent passage of a government funding bill. The House and Senate last week approved the nearly $1.7 trillion bill to avert a government shutdown before the holiday recess. "If Senate Republicans controlled this chamber, we would have handled the appropriations process differently from top to bottom," McConnell said last week. Only nine House Republicans voted for it. "Just another win for the Democrats, Mitch, that wouldn't have happened if 'Trump' were President!"

☆ Egypt Is Spending Billions on a New Capital That Egyptians May Not Visit
▼ + stars: | 2022-12-24 | by ( Chao Deng | Amira El-Fekki | ) www.wsj.com time to read: 1 min

CAIRO—In a desert plain 40 miles east of central Cairo, a sprawling new capital city is taking shape, with skyscrapers, luxury residences and pedestrian malls representing President Abdel Fattah Al Sisi ‘s vision of a modern Egypt, fueled by billions of dollars in debt to help see it through. Now comes the hard part: getting people to live and work there.

☆ Mitch McConnell says the 'entire nation knows' who is responsible for the Capitol riot after the January 6 panel asked the DOJ to prosecute Donald Trump
▼ + stars: | 2022-12-20 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +4 min

Mitch McConnell hit out at Donald Trump after the latter was referred to the DOJ for prosecution. In a statement, McConnell said that "entire nation knows who is responsible" for the Capitol riot, without directly naming Trump. The January 6 panel on Monday asked the DOJ to prosecute Trump on four charges linked to the riot. McConnell's statement came after the House panel investigating the Capitol riot on Monday asked the Justice Department to prosecute Trump on four charges. "There is no question — none — that President Trump is practically and morally responsible for provoking the events of the day," McConnell said of Trump at the time.

☆ Tunisian Opposition Calls for President to Step Down After Low Voter Turnout
▼ + stars: | 2022-12-18 | by ( Chao Deng | ) www.wsj.com time to read: 1 min

The leader of Tunisia’s opposition alliance called for President Kais Saied to step down on Sunday after only a fraction of eligible voters turned out for parliamentary elections. More than 160 seats were up for vote. Yet once polls closed on Saturday night, only 8.8% of eligible voters, or roughly 803,000 people, had participated, according to the government. Tunisia has a population of roughly 12 million people, with about 9 million eligible voters.

☆ Rents are falling — it could help pull mortgage rates down even lower
▼ + stars: | 2022-12-15 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +4 min

Falling rents could help bring inflation down, leading to less mortgage interest rate hikes. And if this trend continues, it could even help ease inflation and ultimately lead to lower mortgage rates. Another important component in the slowing rent growth is that it could lead to cheaper mortgage rates. Slowing inflation has already translated to lower mortgage rates, which peaked at over 7% in October. Over the last five weeks, mortgage rates have declined by more than three quarters of a point — marking the largest drop since 2008.

☆ Tunisians Emigrate in Record Numbers as Hopes Fade for Its Economy, Democracy
▼ + stars: | 2022-12-14 | by ( Chao Deng | ) www.wsj.com time to read: +1 min

A rescue operation to help people in a boat off the coast of Tunisia in August last year. Many Tunisians are making the dangerous journey by boat from their home country to the European Union. TUNIS, Tunisia—Record numbers of Tunisians are leaving the country after a decade of economic turmoil and the government’s turn toward authoritarianism, dimming hopes that a younger generation can build a future in the nation that sparked the Arab Spring. The flood of Tunisian émigrés spans socioeconomic classes, with professionals, the working class and the destitute represented among those fleeing, as Russia’s invasion of Ukraine pushes up the price of food and gas, and the government pulls back from subsidizing basic items such as sugar and rice. Inflation has reached nearly 10% this year, and economists say a $1.9 billion International Monetary Fund loan secured by President Kais Saied isn’t enough to pull the country of 12 million people back from the brink.

☆ PwC invests $140 mln in China tourist hub for learning centre
▼ + stars: | 2022-12-10 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, Dec 10 (Reuters) - PwC said on Saturday it plans to invest more than 1 billion yuan ($140 million) to establish an education and innovation centre China's island province of Hainan, a tourism hub. The Reimagine Park project, to occupy 16 acres in Sanya in the Chinese southern province, is due to open in 2025. "I have absolutely no doubt the China market will rebound," Raymund Chao, chairman of PwC Asia Pacific and China, told Reuters, after Beijing this week eased many of the nation's strict COVID-19 curbs. The accounting and consulting firm partners with business schools such as INSEAD and Thunderbird School of Global Management to provide learning and training opportunities at the park for executives in the business community, it said. ($1 = 6.9559 Chinese yuan renminbi)Reporting by Selena Li; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ 401(k) 'hardship' withdrawals hit record high, Vanguard says — another sign households feel the pinch of inflation
▼ + stars: | 2022-12-08 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Thomas Barwick | Stone | Getty ImagesThe share of retirement savers who withdrew money from a 401(k) plan to cover a financial hardship hit a record high in October, according to data from Vanguard Group. Nearly 0.5% of workers participating in a 401(k) plan took a new "hardship distribution" in October, according to Vanguard, which tracks 5 million savers. Americans are 'feeling the pinch from inflation'Nearly all 401(k) plans allow workers to take hardship withdrawals, but employers may vary in their rationale for allowing them. Participants can also access 401(k) savings via loans or nonhardship withdrawals. Beyond the apparent acute financial need among households, hardship withdrawals carry negative repercussions.

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