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☆ The Chinese yuan surged to a 16-month high, but Beijing may not be happy about it
▼ + stars: | 2024-09-25 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

China's stimulus package has boosted market sentiment and pushed the Chinese yuan to a 16-month high. But a strong yuan could hurt exports, a key pillar of China's economy, amid weak domestic demand. AdvertisementChina's massive stimulus package for its battered economy has boosted market sentiment and injected confidence into the Chinese yuan. This means $1 could buy fewer Chinese yuan. A strong yuan is bad for exportsEven though a strong yuan signals confidence in China's economy, analysts aren't sure the gains will hold.

Persons: —, Pan Gongsheng, Vishnu, Varathan, Larry Hu, Hu, aren't, Pan, Macquarie's Hu Organizations: People's Bank of China, Service, US Federal Reserve, Macquarie Group, Lombard, Bloomberg Locations: Asia, Japan, China, Beijing, Swiss, China's

☆ Beijing is no longer hiding its panic about the state of its economy
▼ + stars: | 2024-09-25 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

The measures were significant because Beijing has been holding back on a "bazooka" stimulus even though China's economy has been struggling to stage a convincing recovery post-pandemic. To be sure, this is not the first attempt China has made at boosting its economy in the past few years. However, Beijing's display of resolve also triggered market speculation that it's alarmed and panicked over the state of its economy, which is facing multiple challenges. Related storiesNotably, even on the heels of China's big stimulus announcement, most analysts also think Beijing still needs to do more to boost China's economy, particularly in boosting gloomy domestic demand. "Onshore stocks are a policy- and momentum-driven market, and policy signals don't get much clearer than this," they wrote.

Persons: —, Pan Gongsheng, Andrew Rocco, Rocco didn't, Pan, Freya Beamish, Rory Green, Anthony Sassine, Sassine, Rocco, macroeconomy, China's CSI300 Organizations: Service, People's Bank of China, Business, Lombard, Investors, Zacks Investment Research, Global Data.TS, Yahoo Finance, Data.TS Locations: China, Beijing, Swiss, London

CNN —The US government is “intensely tracking” an ongoing threat by Iran against current and former US officials, Secretary of State Antony Blinken said Wednesday. Law enforcement officials have been concerned about the persistent threat of Iran potentially attempting to assassinate former Trump officials and the former president himself, multiple sources familiar with the matter have previously told CNN. US officials have not detailed the threats against current officials, and Blinken on Wednesday did not reveal further information. Congress is considering additional money for the Secret Service as part of its effort to keep the government funded ahead of a September 30 deadline. An additional $231 million for the Secret Service is included in a continuing resolution the House could vote on as soon as Wednesday.

Persons: Antony Blinken, Donald Trump, NBC’s, ” Blinken, Trump, ”, ODNI, ” Trump, Qasem Soleimani, Kamala Harris, CNN’s Evan Perez, Zachary Cohen, Natasha Bertrand, Kylie Atwood, Kristen Holmes Organizations: CNN, Trump, National Intelligence, Military, Truth Social, Islamic Revolutionary Guard Corps, Baghdad International Airport, Service Locations: Iran, United States, U.S, Baghdad

☆ Inside the strain challenging the US Secret Service
▼ + stars: | 2024-09-25 | by ( Betsy Klein | Jamie Gangel | ) edition.cnn.com time to read: +12 min

While the reputation of the US Secret Service is one of precision, vigilance and security, the reality is more complicated – a high-stress, high-intensity workplace beset by management and logistical issues. (The Secret Service is mandated to protect all foreign heads of state while they are on US soil). “Following the events of July 13, the U.S. Secret Service enhanced our protective model for protectees. According to the Secret Service official, the agency’s attrition rate was 10.26% in fiscal year 2022, 8.78% in 2023, and 8.85% for fiscal year 2024 so far. A USSS spokesman disputed any reports of tension between Secret Service and the Bidens.

Persons: Donald Trump, Butler, ”, Joe Biden, protectee, USSS, Kamala Harris, Sen, JD Vance, Tim Walz, That’s, ” Anthony Guglielmi, ” Guglielmi, ” Biden, “ They’re, Ronald Rowe, Kimberly Cheatle, “ You’re, Rowe, nodded, Jonathan Wackrow, Trump, Wackrow, Biden, ’, “, Trump’s Butler, CNN’s Whitney Wild Organizations: CNN, Service, Secret Service, San Francisco, Trump, Gov, United Nations General Assembly, Democratic, Republican, Secret, Places, Federal Government, Public Service, Boston Consulting, Washington Post Locations: Butler , Pennsylvania, Florida, San Francisco, Asia, Pacific, San, New York, U.S, Cheatle

Tens of thousands of people fled southern Lebanon on Tuesday as Israel intensified an aerial assault that inflicted the country's deadliest day since war nearly two decades ago, while Hezbollah launched a new barrage of cross-border fire. Nearly 500 people were killed in Lebanon on Monday, according to local health officials, marking the deadliest Israeli bombardment of the country since Israel's 34-day war with Hezbollah in 2006. Mahmoud Zayyat / AFP - Getty ImagesThe Israeli military had issued warnings for residents in southern and eastern Lebanon to evacuate certain areas, spurring thousands of people to flee their homes. Scenes of families fleeing southern Lebanon and of fiery explosions filling the skyline fueled global fears of an all-out regional conflict. However, in a briefing Monday, an Israeli military official said a halt in fire from Hezbollah would not be enough to end Israel’s strikes on Lebanon.

Persons: Fadel Itani, Mahmoud Zayyat, Josep Borrell, ”, EFE, Israel Organizations: Hezbollah, Getty Images, Getty, European Union, Reuters, Vehicles, Ibrahim Amro, Israel Defense Forces, Northern Arrows Locations: Lebanon, Israel, Iran, Beirut, AFP, Sidon, Monday, European, Ghazieh, Damour, Lebanese, Ibrahim, Gaza

☆ Biden proposes banning Chinese technology from ‘connected cars’ on U.S. roads
▼ + stars: | 2024-09-24 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

WASHINGTON — The U.S. Commerce Department on Monday proposed prohibiting key Chinese software and hardware in connected vehicles on American roads due to national security concerns, a move that would effectively bar Chinese cars and trucks from the U.S. market. The planned regulation, first reported by Reuters, would also force American and other major automakers in years ahead to remove key Chinese software and hardware from vehicles in the United States. President Joe Biden’s administration has raised concerns about data collection by connected Chinese vehicles on U.S. drivers and infrastructure and potential foreign manipulation of vehicles connected to the internet and navigation systems. The proposed prohibitions would prevent testing of self-driving cars on U.S. roads by Chinese automakers and extend to vehicle software and hardware produced by Russia and could be extended to other U.S. adversaries. The group said there is “very little” connected vehicle hardware or software “that enters the U.S. from China.

Persons: WASHINGTON, Joe Biden’s, Jan, Gina Raimondo, We’re, ”, Liz Cannon, Jake Sullivan, ” Sullivan, Lin Jian, Washington “ Organizations: The U.S . Commerce Department, Reuters, White House, The Commerce Department, U.S . Commerce, Commerce Department, Motors, Ford Motor, U.S, The, White, National, Foreign Ministry, Alliance, Automotive Innovation, GM, Toyota, Volkswagen, Hyundai Locations: The U.S, U.S, United States, Russia, China

☆ A new US missile system that showed up in the Pacific this year keeps making China more and more unhappy
▼ + stars: | 2024-09-24 | by ( Chris Panella | ) www.businessinsider.com time to read: +5 min

The US military deployed its Mid-Range Capability, or Typhon, missile system to the Philippines in April, and US military officials have expressed interest in deploying it in Japan. The MRC is a versatile new ground-based missile system that is capable of firing the Standard Missile 6 (SM-6) and Tomahawk Land Attack Missile System. The US military deployed the missile system overseas for the first time in April, putting it in the Philippines amid a joint exercise between the two militaries. AdvertisementWhile the new weapon wasn't fired during the exercise, its presence in the region irked China, which demanded the system be removed. Russia is said to have violated the Cold War-era arms-control pact by developing and fielding the SSC-8/9M729 missile system.

Persons: —, wasn't, Zachary Anderson, Enrique Manalo, Wang Yi, Manalo, Lin Jian, Army Christine Warmouth, Lin, Robert S, Price, Trump, Vladimir Putin's Organizations: Service, Business, MRC, Missile, US Army, US Army Pacific, US Navy, Zachary Anderson Philippine Foreign, Association of Southeast, Nations, Defense, Army, ., Navy, US, Nuclear Forces Treaty, NATO Locations: China, Beijing, Philippines, Japan, Zachary Anderson Philippine, Laos, Pacific, Russia, Moscow, Europe, Ukraine

“We are the closest we’ve been to spiraling to a regional war” since Hamas’ October 7 attack, one of the officials said. The US assesses that neither Israel nor Hezbollah are interested in a full-scale war, officials said. On Monday, Nasser Kanaani, a spokesman for Iran’s foreign ministry, warned of “dangerous consequences” following Israel’s strikes. Israel has told the US that a full-scale war is not the intent of its strikes, according to an Israeli official. The goal is a diplomatic solution through escalation, the Israeli official said.

Persons: “, Israel, Nasser Kanaani, “ They’ve, Joe Biden’s, ” “, Daniel Hagari, Hagari, ” Hagari, Hassan Nasrallah, Ismail Haniyeh, Masoud Pezeshkian, “ Ismail Haniyeh, ” Pezeshkian, “ Israel Organizations: CNN, Ramat David, State Department, UN, Assembly, Pentagon, General Assembly, Hamas, Israel Defense Forces, Hezbollah Locations: Israel, Lebanon, East, Beirut, Ramat, Haifa, Iran, Tehran, New York, “, Gaza

☆ Property stocks in Hong Kong rally on homes mortgage stimulus
▼ + stars: | 2024-09-24 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +3 min

Chinese property stocks rallied on Tuesday after top financial regulators vowed a range of monetary easing measures to provide some relief for millions of families and boost a recovery in the real estate market. During a high-level press conference Tuesday morning, People's Bank of China Gov. Hang Seng Mainland Properties Index surged as much as 5% when Hong Kong markets opened shortly after the announcement was made. Chinese policymakers have been ramping up support to reduce household's financial burden and shore up the troubled real estate sector. Homeowners could also be allowed to refinance with a different bank for the first time in years, the outlet reported.

Persons: Pan Gongsheng, Pan, William Wu, Bruce Pang, Pang Organizations: People's Bank of China Gov, Mainland Properties, Longfor Group Holdings, China Overseas Land & Investment, Daiwa, Bloomberg Locations: Beijing, Hang, Hong Kong, China, JLL

☆ Asia-Pacific markets climb with China's central bank in focus; S&P and Dow set fresh records
▼ + stars: | 2024-09-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets climbed on Tuesday, tracking gains on Wall Street after the S&P 500 and Dow Jones Industrial Average touched new closing highs in Monday's trading session. The broad market index added 0.28% to end at 5,718.57, while the Dow Jones Industrial Average gained 61.29 points, or 0.15%, to close at 42,124.65. The briefing is set to begin before Chinese markets open at 9:30 a.m. Currently, futures for the mainland Chinese CSI 300 are at 3,205.6, slightly lower than its last close of 3,212.76. As such, CBA expects a slightly less hawkish statement, but does not see a material shift in language or tone.

Persons: Pan Gongsheng Organizations: Dow Jones, Dow Jones Industrial, Traders, People's Bank of China, PBOC, CSI, Reuters, Commonwealth Bank of Australia, CBA Locations: Asia, Pacific, Australia's

☆ Biden's UN speech will highlight his diplomatic successes, amid wars in the Middle East, Ukraine, Sudan
▼ + stars: | 2024-09-24 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

U.S. President Joe Biden addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. But given the geopolitical backdrop for Biden's speech, there will be little time for victory laps. Since Biden's last UNGA address in September 2023, ongoing wars in Ukraine and Sudan have persisted, while long-simmering tensions in the Middle East have erupted into deadly conflicts. Still, the Biden administration regularly emphasizes its commitment to a ceasefire and hostage deal. "This is one of the advantages of the UN General Assembly: You literally have the whole world here," said the administration official, who was granted anonymity to preview the president's agenda.

Persons: Joe Biden, it's, Biden, they'll Organizations: General Assembly, United Nations General Assembly, UN, Assembly, Republicans Locations: New York City, U.S, East, Ukraine, Sudan, New York, China, Gaza, Russia, Nations

☆ Princess Kate makes first public appearance after cancer treatment
▼ + stars: | 2024-09-23 | by ( Freddie Clayton | Freddie Clayton Is A Freelance Journalist Based In London. | ) www.nbcnews.com time to read: +2 min

LONDON — Princess Kate has made her first public appearance since announcing that she had completed chemotherapy and would be returning to some public duties. Joined by her husband, Prince William, she was seen attending a Sunday service at Crathie Kirk, a church near the family's royal Balmoral estate in Scotland. In early September, Kate released a deeply personal video message saying she had completed treatment for an undisclosed form of cancer that was detected after abdominal surgery earlier in the year. Kate had already appeared in public since she revealed she was undergoing cancer treatment in March, including at Trooping the Colour, an annual military parade to celebrate the birthday of the British monarch. He has also returned to public duties after temporarily stopping most of his engagements following the diagnosis.

Persons: Kate, Prince William, Crathie Kirk, Princess, William, King Charles III, Queen Camilla, Royal Foundation of The Prince, Princess of, King Charles, Charles, Queen Elizabeth II, Prince Harry, Meghan, Prince Andrew Organizations: Times, London, Royal Foundation of The, Windsor, Royal Foundation, Wimbledon Locations: Crathie, Scotland, Wales, Princess of Wales, British, California

☆ Side-by-side images from the James Webb and Hubble space telescopes show why NASA spent 25 years and $10 billion on the Webb
▼ + stars: | 2024-09-23 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +7 min

Read previewNASA's James Webb Space Telescope floored astronomers and spectators across the globe when it released its first full-color images. Even those preliminary snapshots revealed countless stars, galaxies, and fine details that hadn't been seen before. A side-by-side collage of the same area taken by Hubble and the James Webb Space Telescope in its very first image. In the JWST image, you can see galaxies in the background that were invisible to HubbleA few galaxies that are clearly visible in the JWST image, but not the Hubble image. The JWST image also revealed the stellar nurseries created as galaxies mergeThe JWST image shows a region of gas compressed between merging galaxies.

Persons: —, James Webb, Webb, Joseph DePasquale, JWST, hadn't, Eric Smith, Hubble, STScI Webb, Mark McCaughrean, McCaughrean, Amber Straughn, Jane Rigby, we've Organizations: Service, Business, NASA, ESA, CSA, Hubble, James Webb Space, Hubble Heritage, European Space Agency Locations: JWST

☆ Biden proposes banning Chinese vehicles from U.S. roads with software crackdown
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: +5 min

The Biden administration has raised serious concerns about the collection of data by Chinese companies on U.S. drivers and infrastructure through connected vehicles as well as about potential foreign manipulation of vehicles connected to the internet and navigation systems. The planned regulation, first reported by Reuters, would also force American and other major automakers in the coming years to remove key Chinese software and hardware from vehicles in the United States. The U.S. Commerce Department on Monday proposed prohibiting key Chinese software and hardware in connected vehicles on American roads due to national security concerns - a move that would effectively bar nearly all Chinese cars from entering the U.S. market. The move is a significant escalation in the United States' ongoing restrictions on Chinese vehicles, software and components. The rules would apply to all on-road vehicles but exclude agricultural or mining vehicles not used on public roads.

Persons: Joe Biden, Biden, Gina Raimondo, Raimondo, We're, Jake Sullivan, Sullivan, Jan Organizations: White, White House, Reuters, U.S . Commerce Department, United, National, Embassy, U.S, The Commerce Department, Alliance, Automotive Innovation, General Motors, Toyota, Hyundai Locations: Rose, Washington ,, United States, U.S, Yantai, Shandong province, Russia, China, Washington

☆ Quad group expands maritime security cooperation at Biden's farewell summit
▼ + stars: | 2024-09-22 | by ( ) www.cnbc.com time to read: +5 min

US Secretary of State Antony Blinken (R) prepares to pose for a group photo with Australia's Foreign Minister Penny Wong (2nd R), Japan's Foreign Minister Yoko Kamikawa (2nd L) and India's Foreign Minister Subrahmanyam Jaishankar (L) at the start of their Quad Ministerial Meeting at the Iikura Guest House in Tokyo on July 29, 2024. The leaders announced joint coast guard operations next year that will include Australian, Japanese and Indian personnel spending time on a U.S. coast guard vessel. The leaders' joint statement included sharp language about North Korea, condemning its ballistic missile launches and "malicious cyber activity." "But I think China's recent maritime aggression could be changing the equation for India and could be prompting India to become a bit more open to the idea of Quad security cooperation," she said. Before the summit, Albanese met with Biden at his home and discussed bilateral cooperation between the two close allies across defense and security, including in the Indo-Pacific.

Persons: Antony Blinken, Penny Wong, Yoko Kamikawa, Subrahmanyam Jaishankar, Joe Biden, Biden, Fumio Kishida, Narendra Modi, Anthony Albanese, Xi Jinping, he's, Lisa Curtis, Kishida, Modi, Albanese, Donald Trump, Kamala Harris Organizations: Australia's Foreign, Japan's, India's, of, Indian, Australian, Pacific Partnership, Maritime Domain, House, Analysts, East China Seas, East China, U.S, China, Center, New, New American Security, congressional Locations: Tokyo, of Australia, India, Japan, United States, China, Delaware, U.S, Beijing, South China, South, East, Taiwan, Philippines, Brunei, Malaysia, Vietnam, North Korea, Islands, Southeast Asia, Asia, New American, Australia, Philadelphia

CNN —The US is expected to announce a major weapons package to Ukraine as soon as next week, but it will likely delay the shipping of the equipment due to inventory shortages, according to two US officials. The US currently has $5.9 billion left in Presidential Drawdown Authority for Ukraine, the Pentagon said this week, which is set to expire at the end of the fiscal year in less than two weeks. Presidential drawdown packages were initially intended as a way of supplying Ukraine with arms and equipment in the short-term since the start of the war with Russia. More sophisticated equipment with long production times was sent through another mechanism – the Ukraine Security Assistance Initiative – that purchased weapons directly from arms manufacturers for future delivery. The US believes Ukraine will need at least $500 million worth of presidential drawdown authority per month through fiscal year 2025, according to a senior administration official.

Persons: Sabrina Singh, Biden Organizations: CNN, US, Pentagon, Defense Department, Ukraine Security, Initiative Locations: Ukraine, Kyiv, Russia, Europe

"The two leaders will highlight a half century trajectory of UAE-U.S. partnership in trade, investment and security," the Emirati ambassador to Washington, Yousef al-Otaiba, posted on X ahead of the visit. Growing investment tiesTrillion-dollar relationshipThe United States and the UAE have a trade and investment partnership that spans more than five decades. In 2023, bilateral trade between the UAE and the U.S. was worth around $31.4 billion, with U.S. exports to the UAE exceeding $24.8 billion, according to the UAE Embassy in Washington, D.C. The UAE, which produces nearly 4% of the world's oil supply, also has investments in the United States that total $1 trillion. The UAE sovereign wealth funds including the Abu Dhabi Investment Authority and Mubadala are major investors in American real estate, infrastructure and technology sectors.

Persons: Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince, Abu, Hannah McKay, Sheikh Mohammed bin Zayed Al Nahyan's, Anwar Gargash, Sheikh Mohammed's, Joe Biden, Kamala Harris, Gargash, Yousef al Organizations: Downing, Getty, United Arab Emirates, Washington , D.C, U.S, UAE, UAE Embassy, Abu, Abu Dhabi Investment Authority Locations: Abu Dhabi, London, England, United States, Washington ,, Dubai, Gaza, UAE, Washington, U.S

☆ U.S. keeps missile system in Philippines as China tensions rise, tests wartime deployment
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: +3 min

The Typhon system, which can be equipped with cruise missiles capable of striking Chinese targets, was brought in for joint exercises earlier this year, both countries said at the time, but has remained there. China and Russia have condemned the first deployment of the system to the Indo-Pacific, accusing Washington of fueling an arms race. The deployment, some details of which have not been previously reported, comes as China and U.S. defense treaty ally the Philippines clash over parts of the hotly contested South China Sea. Philippine officials said Filipino and U.S. forces continued to train with the missile system, which is on the northern island of Luzon, facing the South China Sea and is close to the Taiwan Strait. A Philippine army spokesman, Colonel Louie Dema-ala, on Wednesday said training was ongoing and it was up to Philippine authorities and the United States Army Pacific to decide how long the missile system would stay.

Persons: Ezra Acayan, Lin Jian, Louie Dema, USARPAC, Ferdinand Marcos Jr Organizations: High Mobility Artillery, Getty, United States Army Pacific, Reuters, Philippine Locations: Philippines, Laur, Nueva Ecija, States, U.S, Asia, Taipei, China, Russia, Washington, Luzon, Taiwan Strait, Philippine

The blasts that rocked Lebanon for a second day reached the doors of a walkie-talkie maker in Japan on Thursday, as Israel’s declaration of a “new phase” to the conflict raised fears of all-out war. As the world urged against further escalation after months of devastating war with Hamas in Gaza, Israel indicated its focus had shifted to its northern border with Lebanon. “We are at the start of a new phase in the war — it requires courage, determination and perseverance on our part,” he said. In northern Israel, at least eight people were injured by anti-tank fire from across the Lebanon border, health authorities said early Thursday. While Israel has not taken responsibility for the attacks, the militant group and Lebanese officials also pinned the blame on Israel.

Persons: pagers, Hassan Nasrallah, Yoav Gallant, ”, Gallant, Defense Lloyd Austin, Israel, Abdallah Rashid Bouhabib, NNA, Icom, Kazuhiro Nogi, ” Yoshiki Enomoto, Enomoto, didn't, ” Icom, Cristiana, Gold, Arcidiacono Organizations: ”, Defense, NBC News, . Security, Lebanese Telecommunications Ministry, Getty, Reuters, Icom, NBC, Consulting, Taiwanese Ministry of Economic Affairs Locations: Lebanon, Japan, Iran, Gaza, Israel, U.S, New York, Taiwan, Bulgaria, Beirut, Osaka, Tokyo, AFP, East

TOKYO — A 10-year-old student at a Japanese school in China died Thursday after being stabbed on the way to school the day before, Japanese officials said, as they demanded that Beijing do more to protect Japanese nationals in the country. Lin said the boy was a Japanese national whose parents are Japanese and Chinese citizens. “Effective measures will continue to be taken to ensure the safety of foreigners in China, including people from Japan,” he said. According to the Chinese Foreign Ministry, the student was stabbed on Wednesday about 220 yards away from the Shenzhen Japanese School in the southern Chinese city of Shenzhen. Flags at Japanese diplomatic missions in mainland China and Hong Kong were lowered on Thursday.

Persons: Fumio Kishida, Kishida, ”, “, Philip Fong, Lin Jian, Lin, Yoko Kamikawa, Kamikawa, ” Arata Yamamoto, Rae Wang Organizations: Washington, Foreign Ministry, Chinese Foreign Ministry, Shenzhen Japanese School, Foreign Affairs, Embassy, Weibo Locations: TOKYO, China, Beijing, Japan, U.S, Japanese, Shenzhen, Mukden, Shenyang, Manchuria, Suzhou, Tokyo, Guangzhou, Hong Kong, Asia, Pacific, Chinese, Jilin

☆ Walkie-talkie firm probes link to 2nd wave of Lebanon blasts as Israel declares ‘new phase’ of war
▼ + stars: | 2024-09-19 | by ( Mithil Aggarwal | ) www.cnbc.com time to read: +5 min

The Israeli military said it had struck Hezbollah infrastructure and a weapons storage facility in southern Lebanon in overnight airstrikes. Israeli artillery also struck several areas in southern Lebanon, the IDF said in a statement. In northern Israel, at least eight people were injured by anti-tank fire from across the Lebanon border, health authorities said early Thursday. While Israel has not taken responsibility for the attacks, the militant group and Lebanese officials also pinned the blame on Israel. Whether original Gold Apollo products were tampered with, or entirely fake ones manufactured, was still being investigated, a spokesperson for the Taiwanese Economic Affairs Ministry told NBC News.

Persons: Hassan Nasrallah, Yoav Gallant, Gallant, Lloyd Austin, Israel, Abdallah Rashid Bouhabib, NNA, Icom, Yoshiki Enomoto, Enomoto, didn't, Cristiana, Gold, Arcidiacono Organizations: Hamas, Israeli, NBC News, United Nations Security Council, Lebanese Telecommunications Ministry, Reuters, Icom, NBC, Consulting, Taiwanese Economic Affairs Ministry Locations: Beirut's, Lebanon, Japan, Iran, Gaza, Israel, U.S, New York, Taiwan, Bulgaria, Beirut, Osaka, East

☆ Biden claims he's 'never once spoken' to Powell as president, but they met in Oval Office in 2022
▼ + stars: | 2024-09-19 | by ( Josephine Rozzelle | ) www.cnbc.com time to read: +3 min

Chairman of the Federal Reserve Jerome Powell (left) meets with President Joe Biden in the Oval Office on May 31, 2022. President Joe Biden on Thursday said he had "never once spoken" to Federal Reserve Chair Jerome Powell while he was president. "The president was saying that he has not spoken to Chair Powell about interest rates," said Bernstein. Even in his 2022 Oval Office meeting with Powell, Biden stressed the importance of the Fed's independence in addressing inflation. Respect the Fed's independence," Biden said at the time.

Persons: Jerome Powell, Joe Biden, Janet Yellen, Biden, I've, Jared Bernstein, Powell, Bernstein, Donald Trump, Trump Organizations: Federal, Treasury, Economic, of Washington, of Washington , D.C, Fed, Republican, Federal Reserve, Street Journal, White Locations: of Washington ,

LONDON — Kate, the Princess of Wales, held her first official engagement Tuesday since announcing last week that she had completed her cancer treatment. Kate, wife of Prince William, the heir to the British throne, attended a private meeting at Windsor Castle, according to the Royal Circular, a daily briefing of royal activities published in the Times of London newspaper. The Royal Foundation is the main philanthropic vehicle for William and Kate, supporting community groups that work on early years education, homelessness and conservation projects. The princess has appeared in public since she revealed she was undergoing cancer treatment in March, including at the men’s final at Wimbledon in July. It emerged in February that Charles himself was receiving cancer treatment.

Persons: Princess, Prince William, Royal Foundation of The Prince, Princess of, Kate, Charlotte, Pippa Middleton Matthews, King Charles III, Charles, Queen Elizabeth II, Prince Harry, Meghan, Prince Andrew Organizations: Windsor, Times, London, Royal Foundation of The, Royal Foundation, Wimbledon Locations: Wales, Princess of Wales, California

☆ The Fed gives the US its first jumbo interest-rate cut in 4 years
▼ + stars: | 2024-09-18 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

It's the first time the Federal Reserve has cut rates since March 2020. The unemployment rate also ticked down in August, giving the Fed the data it needed to cut rates. AdvertisementAccording to CME FedWatch, which estimates interest-rate changes based on market predictions, a rate cut was all but certain; the question was how big of a cut the Fed would implement. Additionally, some economists and Democratic lawmakers had for months been calling for a rate cut of at least 50 basis points. "They're going to cut rates this week," Bharat Ramamurti, a senior advisor for economic strategy at the American Economic Liberties Project, told reporters during a Monday briefing.

Persons: —, Jerome Powell's, Skanda Amarnath, Democratic Sens, Elizabeth Warren, John Hickenlooper, Sheldon Whitehouse, Powell, delinquencies, Bharat Ramamurti Organizations: Service, Federal, Market Committee, Federal Reserve, Business, CME FedWatch, Democratic, Fed, American Economic Liberties Locations: Jackson Hole , Wyoming, America

☆ FDIC unveils rule forcing banks to keep fintech customer data in aftermath of Synapse debacle
▼ + stars: | 2024-09-17 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

The Federal Deposit Insurance Corporation on Tuesday proposed a new rule forcing banks to keep detailed records for customers of fintech apps after the failure of tech firm Synapse resulted in thousands of Americans being locked out of their accounts. That's what happened in the Synapse collapse, which impacted more than 100,000 users of fintech apps including Yotta and Juno. Customers with funds in these "for benefit of" accounts have been unable to access their money since May. Keeping better records would allow the FDIC to quickly pay depositors in the event of a bank failure by helping to satisfy conditions needed for "pass-through insurance," FDIC officials said Tuesday in a briefing. While FDIC insurance doesn't get paid out in the event the fintech provider fails, like in the Synapse situation, enhanced records would help a bankruptcy court determine who is owed what, the officials added.

Persons: Biden Organizations: Federal Deposit Insurance Corporation, FDIC, Federal Register, Bank, JPMorgan Chase

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