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☆ Martin Marietta CEO Ward Nye on impact of incoming administration on existing government investments
▼ + stars: | 2024-11-22 | 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 EmailMartin Marietta CEO Ward Nye on impact of incoming administration on existing government investmentsWard Nye, Martin Marietta Chairman & CEO, joins 'Closing Bell Overtime' to talk government investing and what a new administration means for its business.

Persons: Martin Marietta, Ward Nye Organizations: Martin

☆ China Shows Few Signs of Tilting Economy Toward Consumers in New Plan
▼ + stars: | 2024-07-21 | by ( Keith Bradsher | Chris Buckley | ) www.nytimes.com time to read: +1 min

China engaged in a monthslong drumbeat of anticipation that a Communist Party leaders’ meeting would show the way to a new era of growth for the slowing economy. The outcome was a plan released on Sunday offering more than 300 steps on everything from taxes to religion. Many economists had called for a comprehensive effort to rebalance the Chinese economy away from investment and toward consumer spending. The party promised to “promote the development of strategic industries” in eight sectors, from renewable energy to aerospace. Those were essentially the same industries as in the country’s decade-old Made in China 2025 plan to replace imports of high-tech goods with locally produced products, as part of a national push for self-reliance.

Persons: ’, — Organizations: Communist Party, Communist Party’s Central Committee Locations: China

☆ How American carmakers lost ground in China
▼ + stars: | 2024-05-11 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +2 min

American automakers and their non-Chinese counterparts are fighting an existential battle, as local rivals in China outpace them. GM's sales in China, including those of joint ventures it maintains in the country, have fallen from a high of 4 million vehicles in 2017 to 2.1 million in 2023. Several factors have contributed to the decline of U.S. automakers in China. That's precisely why American automakers shouldn't give up on China despite the U.S. companies' sales setbacks, according to Bill Russo, a former Chrysler executive who runs Automobility, a consulting firm in Shanghai. "If you don't compete in China, then what are you going to do when China shows up in your backyard?"

Persons: Michael Dunne, Dunne, Berkshire Hathaway, —, shouldn't, Bill Russo, Russo, haven't Organizations: U.S, Ford, GM, Hyundai, Kia, Nissan, Lotus, Volvo, Berkshire, Huawei, Chrysler Locations: China, U.S, Sweden, Shanghai

☆ Dutch state to sell down stake in ABN Amro
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

ABN AMRO logo is seen at the headquarters in Amsterdam, Netherlands May 14, 2019. REUTERS/Piroschka van de Wouw/File Photo Acquire Licensing RightsAMSTERDAM, Nov 30 (Reuters) - The Dutch government on Thursday said it would sell some of its shares in lender ABN Amro (ABNd.AS) , reducing its stake to around 40%. The Dutch state currently holds 49.5% of the shares in ABN Amro, one of three dominant banks in the Netherlands, following a bailout in the 2008 financial crisis. The Dutch state sold down its holding in ABN Amro to below 50% earlier this year. ABN Amro shares traded down 2.2% at 12.25 euros ($13.38) in early trading on Thursday, around 30% below their 2015 introduction price.

Persons: de, Bart Meijer, Bernadette Baum, Sharon Singleton Organizations: ABN AMRO, REUTERS, Rights, ABN Amro, of America Securities Europe, Thomson Locations: Amsterdam , Netherlands, Netherlands

☆ AI is going to force millions of workers to train for new jobs. The US has historically been terrible at this.
▼ + stars: | 2023-11-14 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Experts say many of those workers will need to be retrained for new jobs to avoid being left behind. The US economy has struggled in recent decades to help workers adjust to job disruptions. Emerging generative AI technologies like ChatGPT could eliminate or change the nature of millions of jobs over the next decade. AdvertisementWhen Donald Trump promised to bring back manufacturing jobs before the 2016 election, he was speaking to the Americans who had been left in the lurch. But many overseas jobs aren't likely to return anytime soon, among the reasons job retraining was — and remains — necessary for impacted workers.

Persons: —, Richard Baldwin, Seth Carpenter, Morgan Stanley, hasn't, Donald Trump, Michael Chui, Chui, Ethan Mollick Organizations: Service, Global, Economic, Institute, McKinsey Global Institute, University of Pennsylvania's Wharton School, PricewaterhouseCoopers, IBM, Schools Locations: United States, Mexico

☆ Can Joe Biden and a fistful of cash win rural America for Democrats?
▼ + stars: | 2023-09-15 | by ( Andrea Shalal | ) www.reuters.com time to read: +9 min

Trump widened his lead among rural voters to 65% in 2020 from 59% in 2016. That includes $20 billion for rural health systems, $20 billion for clean-energy agriculture projects, $11 billion for rural electrification and $13 billion towards rural clean energy projects, the White House calculates. "You get out into the rural areas, and the folks are older and don't have the educational level. USDA data shows 21% of working-age adults in rural areas have at least a bachelor's degree compared to 37% in urban areas. "Biden and [Democratic] Maine Governor Janet Mills: they're too much bleeding hearts.

Persons: Joe Biden's, Andrea Shalal, Rhiannon Hampson, she's, Hampson, We've, Donald Trump, Trump, Barack Obama, Mark Brewer, Suzanne Mettler, Trevor Brown, Brown, Ron Kaufman, Kaufman, Mitt Romney, George H, Bush, Biden, Tom Perez, I'm, John Piotti, James Gimpel, Gimpel, Orange, Dick Bouchard, Janet Mills, Jared Golden, overplaying, TRUMP, Paul Tewes, Matt Hildreth, Nathan Layne, Heather Timmons, Suzanne Goldenberg Organizations: REUTERS, Rights, U.S . Department, Republicans, Democratic, Biden, Republican, Reuters Graphics Reuters, Trump, University of Maine, Cornell, Republican National Committee, Democratic National Committee, Political, Trust, Pew, Center for Information, Research, Civic, Tufts University . White, Family Foundation, Data, University of Maryland, Pew Research, DEMOCRATS Maine, Maine, Reuters, Democrats, Democratic Party, Thomson Locations: Waterville , Maine, U.S, Waterville, Presque Isle, America, North Carolina, Georgia, Wisconsin, Pennsylvania, Maine, Orono, Nebraska, Massachusetts, Utah, Maine's, Vietnam, Poland, Iowa, Ohio , Montana

☆ Government’s NatWest meddling crosses risky line
▼ + stars: | 2023-07-26 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

Meddling ministers crossed a line, and may struggle to retreat back onto the right side of it. Its shares fell a modest 3% on Wednesday morning – compared with 1% on average for Lloyds Banking Group (LLOY.L), Barclays (BARC.L) and Virgin Money UK (VMUK.L). Rose’s strategy of cutting costs, continuing to scale back risky trading and focusing on core UK retail banking was working. Britain’s Economic Secretary to the Treasury Andrew Griffith said on social media site X, formerly known as Twitter, that “it is right that the NatWest CEO has resigned”. Domestic rivals Lloyds Banking Group, Barclays and Virgin Money UK were down 2% on average.

Persons: Alison Rose, Rose, Rishi Sunak, Jeremy Hunt, Nigel Farage, Andrew Griffith, Coutts, aren’t, Nigel Farage's, Paul Thwaite, George Hay, Pranav Kiran, Streisand Neto Organizations: Reuters, Economic, NatWest, BBC, Royal Bank of Scotland’s, UK Government Investments, . Mortgage, Lloyds Banking Group, Barclays, Virgin Money, Lloyds, Domestic, Thomson Locations: NatWest’s

☆ NatWest CEO resigns after admitting to 'serious error' over Nigel Farage leak
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: +4 min

NatWest CEO Alison Rose on Wednesday stepped down with immediate effect after she admitted a "serious error of judgment" in discussing former Brexit party leader Nigel Farage's relationship with the bank with a senior BBC journalist. The board appointed Paul Thwaite to helm NatWest for an initial period of 12 months, the company said in a statement. "The board and Alison Rose have agreed, by mutual consent, that she will step down as CEO of the NatWest Group," Howard Davies, chairman of the board, said. Coutts' website advises its clients should be able to borrow or invest at least 1 million pounds with the bank or hold 3 million pounds in savings. Britain's Financial Conduct Authority (FCA) said it had urged the NatWest board to review the matter independently and welcomed its statement.

Persons: Alison Rose, Nigel Farage's, Paul Thwaite, Howard Davies, Coutts, Rose, Farage, Peter Flavel, NatWest's Davies, Davies, Rose —, Simon Jack, Jack, Sheldon Mills, Andrew Griffith Organizations: NatWest, BBC, NatWest Group, BBC Business, Authority, Treasury, Reuters, Government Investments

NatWest has faced intense political and media scrutiny over a decision by its private bank Coutts to close Farage's accounts. In a post on the X social media platform on Wednesday, Farage called for further heads to roll in the wake of Rose's resignation. On Tuesday, Farage said on his eponymous TV show that Rose was "unfit" to run a bank. She realised that her comments had left Jack with the impression that the decision to close Farage's accounts was solely a commercial one, Rose said in the statement. Rose also said she was not part of the decision-making process to "exit" Farage's accounts and said this was a decision made by Coutts.

Persons: Alison Rose, Nigel Farage's, Paul Thwaite, Coutts, Farage, Rose, Simon Jack, Howard Davies, Davies, Peter Flavel, Jack, NatWest's, Sheldon Mills, Andrew Griffith, Iain Withers, Sinead Cruise, Urvi, Juby Babu, Simon Jessop, Mark Potter, Edwina Gibbs, Louise Heavens Organizations: NatWest, BBC, BBC Business, UK Treasury, Reuters, Government Investments, Authority, Thomson Locations: Bengaluru

☆ Debt Ceiling Senate on Brink of Passing Debt Limit Bill
▼ + stars: | 2023-06-01 | by ( Carl Hulse | Catie Edmondson | ) www.nytimes.com time to read: +4 min

The wrangling over the nation’s debt limit raises a lot of questions, including what it actually is and why the United States has one. What is the debt limit? Why does the United States have a debt limit? While the debt limit was created to make government run more smoothly, many policymakers believe that it has become more trouble than it’s worth. What happens if the debt limit is not raised or suspended?

Persons: Janet L, Yellen, Ms Organizations: Congress, United, Treasury Department, Treasury, Liberty Bond Act, Wall Street, Social Security Locations: United States

☆ Debt Ceiling Live Updates: House Prepares for Vote on Debt Limit Deal
▼ + stars: | 2023-05-31 | by ( Catie Edmondson | ) www.nytimes.com time to read: +4 min

Which raises a lot of questions, including what the debt limit actually is and why the United States has one. Here’s everything you need to know about the debt limit. What is the debt limit? Why does the United States have a debt limit? While the debt limit was created to make government run more smoothly, many policymakers believe that it has become more trouble than it’s worth.

Persons: Biden, Kevin McCarthy, Janet L, Yellen, Ms Organizations: Congress, United, Treasury Department, Treasury, Liberty Bond Act, Wall Street, Social Security Locations: United States

Which raises a lot of questions, including what is the debt limit and why does the United States have one? Here’s everything you need to know about the debt limit. What is the debt limit? Why does the United States have a debt limit? While the debt limit was created to make government run more smoothly, many policymakers believe that it has become more trouble than it’s worth.

☆ McCarthy Proposes One-Year Debt Ceiling Increase Tied to Spending Cuts
▼ + stars: | 2023-04-17 | by ( Catie Edmondson | Jim Tankersley | ) www.nytimes.com time to read: +3 min

WASHINGTON — Speaker Kevin McCarthy on Monday proposed a one-year debt ceiling increase paired with a set of spending cuts and policy changes, backing down substantially from earlier demands but making clear that Republicans would not raise the borrowing limit to avert a catastrophic debt default without conditions. “I want a responsible, sensible debt ceiling that puts us on an economic path to make America stronger. But that cannot happen if the president continues to ignore the problem.”Understand the U.S. Debt Ceiling Card 1 of 5 What is the debt ceiling? ”A no-strings-attached debt limit increase will not pass,” he said. The debt limit is expected to be breached as early as July unless Congress acts to raise it.

We have said in recent days that we were waiting for Caterpillar stock to fall further before adding to our position again. And the valuation here isn't much of a hurdle, with shares trading at about 15-times 2023 earnings estimates. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. A Caterpillar (Cat) Excavator is seen working at a construction site near the New York Harbor in Brooklyn, New York, March 4, 2021.

☆ Relax, those objects in the sky are probably just from one of the 90 countries and 10,000 companies that make up the nearly $1 trillion space economy
▼ + stars: | 2023-02-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

The US shot down three unidentified objects over the weekend, following the downing of a Chinese balloon earlier this month. The space economy was valued at nearly $500 billion in 2021 and is expected to grow to over $1 trillion by 2030. Over the weekend, the US shot down three unidentified objects over Alaska, Canada, and Lake Huron. These entities, none of which have claimed ownership of the objects, include the 90 countries and roughly 10,000 companies currently involved in the global space industry. But on Monday, the White House said President Biden will establish a team to analyze unidentified objects in the US airspace.

☆ India is a true bright spot in the midst of a global downturn, top execs and policymakers say
▼ + stars: | 2023-01-27 | by ( Jenni Reid | ) www.cnbc.com time to read: +5 min

But India does shine out among the world's biggest economies, with Europe hovering on the brink of potential recession and U.S. growth slowing. "It's for the whole digital India, and creating a digital society in India," Ekholm told CNBC. watch nowIndia, he continued, "will very shortly have the best digital infrastructure outside of China," driven by telecoms juggernauts Bharti Airtel and Jio, he added. Strong tailwinds"We are very optimistic and very positive on India," the chief executive of Tata Consultancy Services, Rajesh Gopinathan, told CNBC. As Anish Shah, chief executive of Mahindra Group, told CNBC: "India will get impacted.

Sinema herself, however, said she would not caucus with the Republican Party, according to an interview Politico published on Friday. It will be up to Senate Democrats to foil Republican initiatives. Sinema and Democratic Senator Joe Manchin have kept Washington in suspense over the last two years as they repeatedly withheld needed votes for legislation sought by Biden. Senator Kyrsten Sinema (D-AZ) walks from her hideaway office to the Senate floor at the U.S. Capitol in Washington, U.S. August 2, 2022. Just this week, Sinema and Republican Senator Thom Tillis unveiled an immigration reform plan that is getting bipartisan attention in the Senate.

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