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☆ There's one final way Biden can fund Ukraine's fight against Russia, researchers say
▼ + stars: | 2024-12-11 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

The Biden administration should seize Russia's frozen assets held by the US, two researchers say. President Joe Biden's final move to help Ukraine should be to seize Russia's reserve assets held by the US before the start of Donald Trump's second term, two researchers wrote this week. "Saudi Arabia, for example, has threatened to sell its European debt holdings if Europe seizes the frozen assets." The US wouldn't be completely alone in doing so — both Canada and the United Kingdom appear willing to seize assets held in their countries. Russia has warned of retaliation if its frozen assets are seized, cautioning that it could seize Western-owned corporate assets still in the country.

Persons: Biden, Joe Biden's, Donald Trump's, Trump, Joe Biden, Maximilian Hess, Carey K, Mott, Hess, Hungary's, Janet Yellen Organizations: Policy Research Institute, Yale Program, Kremlin, Kyiv, Seven, Russia, European, Western, Bloomberg Locations: Europe, Ukraine, United States, Moscow, Saudi Arabia, Germany, Canada, United Kingdom, Russia

☆ Auto parts and dollar store execs warn that low-income Americans are stretched thin and running on borrowed time
▼ + stars: | 2024-09-14 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

AdvertisementBut Americans are not a monolith, as Jefferies consumer strategist Carey Kaufman pointed out in a note to clients Tuesday. Heading into the autumn, a considerable number of those in the bottom quintile appear to be running on borrowed time. Dollar Tree, which owns Family Dollar, reported similar consumer headwinds during its quarterly earnings this month. "What we noticed was an even tighter core consumer at the very last week of each of the months in Q2," he said. "While that's always a tighter week of the month for our core consumer, it was by far the weakest."

Persons: —, Carey Kaufman, Ted Vasos, Vasos, David Bellinger, Ryan Grimsland, Will Stengel, Ally, Russell Hutchinson, paychecks aren't, that's, Bellinger Organizations: Service, Walmart, Costco, Business, Jefferies, Goldman, Global Retailing, Mizuho, Reuters, Federal Reserve Locations: U.S

CNN —US Secretary of State Antony Blinken arrived in Kyiv Wednesday on what is his third trip to the Ukrainian capital since the start of Russia’s full-scale invasion in February 2022. Blinken’s first stop on Wednesday was at a military cemetery, where he laid a wreath in honor of Ukraine’s fallen soldiers. Blinken said he was again “struck by the extraordinary bravery and resilience of the Ukrainian people, the Ukrainian forces, Ukraine’s leadership.”“We’ve seen good progress in the counteroffensive, which is very heartening. Ukrainian Foreign Minister Dmytro Kuleba (left) greets US Secretary of State Antony Blinken (right) in Kyiv on Wednesday. His second trip was in September last year as Ukraine’s first big counteroffensive was underway in the Kharkiv region.

Persons: Antony Blinken, Blinken’s, Ukraine’s, Volodymyr Zelensky, Dmytro Kuleba, Blinken, “, ” “ We’ve, ” Blinken, Brendan Smialowski, Joe Biden, Biden, Defense Lloyd Austin, Kuleba Organizations: CNN, US, Ukrainian Foreign, Ukrainian, Getty, United Nations General Assembly, Ukraine, Kyiv Wednesday, Defense, State Department Locations: Kyiv, Bakhmut, Ukrainian, Ukraine, United States, New York, Russia, Poland, Kharkiv

The Bradleys are among almost 3,600 pieces of military equipment Ukraine has lost in the war, according to Oryx. Meanwhile, the website says it has documented the loss of more than 10,600 pieces of Russian military equipment. In a statement in Monday, Moscow claimed it had destroyed multiple Ukrainian armored vehicles in the Zaporizhzhia region. However, Russian anti-tank troops stand in their way, cold-bloodedly turning Western armored vehicles into scrap heaps,” the Russian Ministry of Defense said. While Russian forces continue to hold the city, Ukraine’s forces have concentrated their efforts on areas to the northwest and southwest.

Persons: Jakub Janovsky, Bradley, Bradleys, Rebecca D’Angelo, Artur Widak, ” D’Angelo, James “ Spider ” Marks, ”, Hanna Maliar, Maliar, Mark Hertling, ” Hertling, CNN’s Jim Acosta, “, ” Serhii Cherevatyi, Cherevatyi, Hertling Organizations: CNN, US Bradley, Washington, US, 841st Transportation Battalion, 2nd Battalion, 70th Armored Regiment, 1st Infantry Division, Bradley Fighting, US Army, Russian Ministry of Defense, Deputy, Russia’s Ministry of Defense, Vostok, Russian Defense Ministry, Russian Locations: Ukraine, Russia, Donetsk, Nowa Deba, Poland, Bradleys, Moscow, Zaporizhzhia, Russian, Velyka, Makrivka, Ukrainian, Neskuchne, Urozhaine, Orikhiv, Bakhmut

☆ Crypto mining in Texas could be costing energy customers an extra $69 per year on their electrical bills
▼ + stars: | 2023-05-02 | by ( Will Gendron | ) www.businessinsider.com time to read: +4 min

Texas has become home to crypto mining companies due to the state's cheap electricity. When considering the more than 26 million customers on Texas' Electric Reliability Council of Texas, or ERCOT, that's an extra $69 per annual bill. Crypto mining companies needed to move elsewhere, and some rural counties in Texas welcomed these companies. "Texans have continued to experience high electric bills due to a number of factors," an ERCOT spokesperson told Insider. The spokesperson cited weather and fuel prices as the main reasons for increased electric bills.

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