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Chevron, the second-largest U.S. oil company, is moving its headquarters to Houston, from California, formalizing a long-expected breakup with a state that has pushed aggressively to address climate change. The company’s ties to California date to the 1870s. Chevron said it already had roughly 7,000 employees in the Houston area and around 2,000 at its current headquarters in San Ramon, Calif., near San Francisco. The State of California sued Chevron and other large oil companies last year, claiming that they misled the public about the risks of fossil fuels, the extraction of use of which are a leading cause of climate change. Chevron’s chief executive, Mike Wirth, criticized the lawsuit last year, saying in a Bloomberg Television interview that litigation was not the right approach.
Persons: Mike Wirth Organizations: Chevron, Calif, Bloomberg Television Locations: Houston, California, San Ramon, San Francisco, The State
On Today’s Episode:Takeaways From Day One of the Republican Convention, by Jonathan WeismanHow J.D. Vance Won Over Donald Trump, by Jonathan Swan and Maggie HabermanBystanders Warned Law Enforcement of the Gunman Two Minutes Before He Began Shooting, Video Shows, by David Botti, Malachy Browne, Haley Willis, Riley Mellen and Dmitriy KhavinJudge Dismisses Classified Documents Case Against Trump, by Alan FeuerThe World Is Pushing Clean Energy. Oil Companies Are Thriving, by Rebecca F. Elliott
Persons: Jonathan Weisman, J.D, Vance Won, Donald Trump, Jonathan Swan, Maggie Haberman, David Botti, Malachy Browne, Haley Willis, Riley Mellen, Dmitriy Khavin, Alan Feuer, Rebecca F, Elliott Organizations: Republican, Trump, Energy . Oil Companies
For all of the focus on an energy transition, the American oil industry is booming, extracting more crude than ever from the shale rock that runs beneath the ground in West Texas. The stocks of some oil and gas companies, such as Exxon Mobil and Diamondback Energy, are at or near record levels. The industry’s revival after bruising losses during the Covid-19 pandemic is due largely to market forces, though Russia’s war in Ukraine has helped. U.S. oil prices have averaged around $80 a barrel since early 2021, compared with roughly $53 in the four years before that. That the price and demand for oil have been so strong suggests that the shift to renewable energy and electric vehicles will take longer and be more bumpy than some climate activists and world leaders once hoped.
Organizations: Exxon Mobil, Diamondback Energy Locations: West Texas, United States, Ukraine, U.S
Marathon Oil agreed to spend $241.5 million to resolve federal allegations that it unlawfully emitted methane, a planet-warming greenhouse gas, and other pollutants from oil and gas facilities in North Dakota. Under the proposed settlement announced on Thursday, the oil and gas producer, based in Houston, would pay a $64.5 million civil penalty. The federal government said it was the largest-ever fine for alleged violations of the Clean Air Act that took place at stationary infrastructure. The settlement is part of a wider effort by the E.P.A. to rein in greenhouse gas emissions at oil and gas facilities.
Organizations: Oil, Fort, Environmental Protection Agency Locations: North Dakota, Houston, Fort Berthold
Jonathan was taking photos when a cliff he stepped on crumbled and he fell more than 200 feet to his death. After his death Rebecca looked through her brother’s cameras and found photos Jonathan had taken the day he fell. Contributors to the Jonathan Fielding journal project follow instructions left with the journal, seen here near Utah's Highway 24. Sherr Joy recognized the name and the description from having read the news about Jonathan’s death. Courtesy Rebecca FieldingAccording to Rebecca, Jonathan once spent 30 minutes dissembling a lamp in a stranger’s yard to free a bird trapped inside.
Persons: Jonathan Fielding, Rebecca, Rebecca Fielding, ” Jonathan, she’d, ideations, , ” Rebecca, Takis, , Jonathan, Jon G, Fuller, didn’t, “ Jonathan, “ Jonathan Fielding, Bro, ” Tammy Mayo Fielding, Jonathan’s, Sherrie Joyce Miller, Kelli Hansen, Miller, Joy, Sherr Joy, ” Rebecca Fielding, Hansen, ” Sherr Joy, “ Jonathan Fielding’s, Lord Huron, ” Jonathan Fielding's, David W, James H, Jonathan …, Jonathan —, she’s, , ‘ Rebecca, I’m, ’ ” Rebecca, “ I’ll, I’ll, don’t Organizations: CNN, Capitol, Facebook Locations: Utah, Missouri, 988lifeline.org, Orem , Utah, Blue Springs , Missouri, Hanksville , Utah, Utah's, The Netherlands, , San Rafael
That suggests the Bank of England won’t follow the European Central Bank in cutting interest rates when it meets Thursday. A rate cut in August, when UK policymakers meet next, is now also less likely. Other economists, including analysts at Nomura, thought an August rate cut was still possible if pay rises and the price of services cooled further. “For an August rate cut, we will need other economic news to play ball,” the analysts wrote in a note. UK inflation peaked at 11.1% in October 2022, driven to a 41-year high by surging food and energy costs.
Persons: , Zara Noakes, Rebecca Florisson, Jake Finney Organizations: London CNN —, Bank of, Bank of England, European Central Bank, JPMorgan Asset Management, Nomura, “ Workers, Work Foundation, Lancaster University, PwC Locations: United Kingdom, England, United States, Europe
Keep reading to learn everything you need to know about how to watch Dune Part Two from home. If you've been waiting to watch (or rewatch) Dune Part Two from the comfort of your home, the time has finally come. ET / 12 a.m. PTHow to watch Dune Part Two in the USDune: Part Two will become available to stream in the US on Max on Tuesday, May 21. This is also where you can stream Dune: Part One and the forthcoming Bene Gesserit prequel series, Dune: Prophecy. How to watch Dune Part Two from anywhereIf you'll be traveling outside the US when Dune: Part Two drops, you can access your subscriptions via VPN.
Persons: Paul Atreides, Frank Herbert Dune, Denis Villeneuve, Rebecca Ferguson, Stellan Skarsgård, Javier Bardem, Austin Butler, Florence Pugh, Anya Taylor, Joy, you've, ExpressVPN, Max, Bene, HBO Max, it's, Max isn't Organizations: Business, Prime, Max, HBO, Warner Bros, Netflix Locations: Zendaya
Wayfair follows other direct-to-consumer brands that have opened stores, including Warby Parker , Figs , Casper, Glossier and Everlane. In the early 2010s, new store openings largely outpaced closures, until the tide turned in 2017. Jeenah Moon | Bloomberg | Getty ImagesOther privately held direct-to-consumer brands have also expanded into retail stores, including bedding company Brooklinen, furniture store Burrow and apparel brands Everlane and Untuckit. High cost of entryIf direct-to-consumer brands could all open stores and suddenly boost sales and profitability, they'd all be doing it. Courtesy: WayfairSome direct-to-consumer brands have already been burned after they expanded too quickly and demand fell.
Persons: Niraj Shah, Wayfair, Warby Parker, Glossier, They're, Larry Cheng, It's, you'll, Liza Lefkowski, Shah, Coresight, John Mercer, Coresight's, Trina Spear, Spears, King, King of Prussia, Rebecca Fitts, Alvarez, Tolia, Allbirds, Al Drago Organizations: CNBC, Apple iOS, Companies, Walmart, Target, Joss, Discount, TJX, Bloomberg, Getty, Marsal, Washington , D.C Locations: Wilmette , Illinois, Chicago, Casper, Amazon, U.S, Coresight Research's, Burlington, Los Angeles, Philadelphia, King, King of Prussia , Pennsylvania, Georgetown, Washington ,
Why does the US not have federal AI regulation? Biden signed the executive order on "Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence" near the end of 2023. Another challenge comes from AI experts and researchers choosing private sector jobs instead of ones in the government, a kind of "brain drain," Zhang said. "Less than 40% go to government looking to create all those AI regulations and governance structures." AdvertisementThe vast majority of AI experts end up working in the private sector rather than for universities or federal governments.
Persons: , hasn't, Joe Biden, Trump, Kevin McCarthy, Biden, I'm, Jason Green, Lowe, It's, Sen, Martin Heinrich, Sam Altman, Bill O'Leary, Rebecca Finlay, Finlay, we're, she's, Daniel Zhang, Zhang, Drew Angerer, That's, there's Organizations: Service, White, Business, Bills, Republican, Artificial Intelligence, Federal Government, Science & Technology, Congress, Microsoft, Google, Defense, Center, Senate, Washington, Getty, Stanford Institute for, AI, Stanford's, for, Biden Locations: Silicon Valley, Korean, Washington , DC, Congress, North America
Two men in their 30s were charged on Tuesday in connection with the chopping down last year of the 200-year-old Sycamore Gap tree, which stood in a dip along Hadrian’s Wall in northern England. The beloved sycamore’s mysterious felling, which took place on a stormy September night, led to an outpouring of sorrow, anger and confusion at the senselessness of the act: Why would anyone cut down one of Britain’s most iconic trees? Two men, Daniel Graham, 38, and Adam Carruthers, 31, from Cumbria, England, were charged with damaging both the tree and part of Hadrian’s Wall, a UNESCO World Heritage Site, according to the local Northumbria Police. Hadrian’s Wall, about 100 miles southeast of Edinburgh and near England’s border with Scotland, was built by the Roman Army after the emperor Hadrian’s visit to Britain in A.D. 122. “We recognize the strength of feeling in the local community and further afield the felling has caused, however we would remind people to avoid speculation, including online, which could impact the ongoing case,” Detective Chief Inspector Rebecca Fenney, the senior office on the case, said in a statement on Tuesday.
Persons: Daniel Graham, Adam Carruthers, Hadrian’s, , Rebecca Fenney Organizations: UNESCO, Heritage, Northumbria Police, Roman Army Locations: England, Cumbria, Northumbria, Edinburgh, England’s, Scotland, Britain
But her latest press tour is, well, a grand slam. Scroll to see Zendaya’s best looks from the “Challengers” press tour. Zendaya's press tour began with the Australian premiere of "Challengers" in Sydney on March 26. Emmanuel DunandAFP/Getty ImagesIn one of her more literal looks, Zendaya wore a custom Loewe dress to a photocall in Rome on April 8, clearly designed to mimic a classic tennis outfit with its pleated skirt and classic lined v-neck. Gareth Cattermole/Getty ImagesDuring the “Dune: Part Two,” press tour, Zendaya’s co-stars, including Florence Pugh, Rebecca Ferguson and Timothée Chalamet, matched her commitment to the sartorial ‘bit’ with their own red carpet wardrobes.
Persons: CNN — Zendaya, ” Zendaya, ” Law Roach, Zendaya’s, Thierry Mugler, ” Roach, Flavio Brancaleone, Louis, Emmanuel Dunand, Kristy Sparow, Louis Vuitton, Emmanuel DunandAFP, Zendaya, Daniele Venturelli, Calvin Klein, Vittorio Zunino Celotto, Thom Browne, Hoda Davaine, Dave Benett, Gareth Cattermole, Florence Pugh, Rebecca Ferguson, Timothée, , Josh O’Connor, Mike Faist, O’Connor, Tashi, Loewe, Jonathan Anderson —, Organizations: CNN, , British “ Vogue, US Vogue, British Vogue, Getty, Paris, Rome, Locations: British, Sydney, Paris, AFP, Rome
In China, which is angling to produce its own chips or get more from Nvidia, no dominant gen AI contender to OpenAI has emerged yet among dozens of Chinese tech titans and startups. Last year, funding of gen AI upstarts accounted for nearly half of $42.5 billion invested globally in artificial intelligence companies, according to CB Insights. "China is at a big disadvantage in building the foundation models for Gen AI," said Rui Ma, an AI investor and co-founder of investment syndicate and podcast TechBuzz China. China does have the tech talent to make a difference in the AI rivalry in the years ahead. Additionally, among top-tier AI researchers working at U.S. institutions, 38% have China as their country of origin, compared with 37% from the U.S.New Chinese gen AI market entries can also reach mass adoption quickly.
Persons: Ernie Bot, OpenAI, Paul Triolo, Jenny Xiao, Rui Ma, Triolo, Sora, Ma, Marco Polo, Baidu's, Ernie, Leong Organizations: Global, Trade, Hangzhou International, Nvidia, tech titans, titans Microsoft, Google, Amazon, U.S, Dentons Global Advisors, Leonis Capital, OpenAI, Paulson Institute, U.S ., Samsung, Apple, Baidu Locations: Hangzhou, Zhejiang Province, China, Washington ,, Silicon, San Francisco, The U.S, U.S, OpenAI
When Rebecca Frecknall was a child, one of her favorite things to watch was a televised 1993 London revival of “Cabaret,” which her father had recorded on VHS tape. As the British theater director grew up, she hoped that one day she would stage a version of the musical, in which a writer falls in love with an exuberant and wayward cabaret performer in Weimar-era Germany. In early March, in a Midtown rehearsal room, Frecknall, 37, was preparing to do just that. Her “Cabaret,” which opens in previews at the August Wilson Theater on April 1, is a transfer from London’s West End, where it opened in 2021 to critical acclaim. “I always wanted to direct ‘Cabaret’,” Frecknall said later in an interview.
Persons: Rebecca Frecknall, Olivier, , ” Frecknall, I’d, , Eddie Redmayne —, Broadway — Organizations: Wilson, Broadway Locations: London, British, Weimar, Germany, London’s
Read previewAnya-Taylor Joy's cameo in "Dune: Part Two" only last a few seconds, but it could lead to something bigger if Warner Bros. gives the go-ahead for "Dune: Part Three." Anya Taylor-Joy plays Alia Atreides in 'Dune: Part Two'Anya Taylor-Joy at the "Dune: Part Two" New York premiere and Rebecca Ferguson as Lady Jessica. Alia Atreides could replace her brother in 'Dune: Part Three'Timothée Chalamet in "Dune: Part Two." Or Villeneuve could just chalk up the accelerated aging to the spooky space-witch magic of Lady Jessica and the Bene Gesserit. So there's plenty of plot twists for Taylor-Joy to explore as Alia if "Dune: Part Three" gets off the ground.
Persons: , Anya, Taylor, Paul Atreides, Baron Harkonnen, Stellan, Shaddam Corrino, Christopher Walken, Paul, Lady Jessica, Rebecca Ferguson, — who's, she's, Joy, Anya Taylor, Alia Atreides, Jessica, Kristina Bumphrey, Alia, Arrakis, Villeneuve, Frank Herbert, Baron, He's, Emperor, Leto, Duncan Idaho, Jason Momoa, Gross, that's Organizations: Service, Warner Bros, Business, York, Getty Images
Here's what's in store for Timothée Chalamet if Villeneuve gets the green light. "'Dune Messiah' was written in reaction to the fact that people perceived Paul Atreides as a hero. Paul Atreides will be the Emperor of the universe in "Dune 3"Timothée Chalamet as Paul Atreides on Calodan in "Dune." "Dune 3" would also introduce Paul and Chani's childrenZendaya as Chani and Timothée Chalamet as Paul Atreides in "Dune." AdvertisementPaul may exile himself to the desert at the end of "Dune 3"Timothée Chalamet as Paul Atreides in "Dune."
Persons: Denis Villeneuve, Frank Herbert's, Chalamet, Villeneuve, , Timothée Chalamet, Paul Atreides, Paul, Jessica, Rebecca Ferguson, Baron Harkonnen, Stellan, Emperor Shaddam, Christopher Walken, That's, Alia —, Anya Taylor, Joy, Paul's, Zendaya, Princess Irulan, Florence Pugh, He's, Chani, Frank Herbert didn't, , Alia Organizations: Service, Rotten, Empire, Times, Warner Bros, Guild, Warner Bros ., Villeneuve Locations: South Korea, Hollywood, Arrakis, Chalamet
1 spot in its opening weekend with a strong $81.5 million in domestic sales, according to studio estimates. The sequel beat out the first Dune installment, which opened with $41 million when it was released in domestic theaters in October 2021. According to Comscore data, “Dune: Part Two” is the largest opening for Timothee Chalamet, Rebecca Ferguson and Austin Butler. Box office revenue is down 13.5% compared to this time last year, Comscore data shows. February and March have, over the past three years, reliably housed movie releases from established franchises and properties including “The Batman,” ($134 million opening weekend) “Creed III” ($58 million) and “Uncharted” ($51 million).
Persons: , Jeff Goldstein, Warner, Timothee Chalamet, Rebecca Ferguson, Austin Butler, It’s, Denis Villeneuve’s, Denis Villeneuve, Goldstein, Paul Dergarabedian, , III ” Organizations: CNN, Warner Bros . Pictures, Warner Bros, Warner Bros ., Dolby, Comscore, Studios
Rebecca Ferguson said she once asked for an "absolute idiot" costar to be replaced with a tennis ball after they screamed abuse at her, reducing her to tears on set. The actor did not name the individual but did confirm it was not her "Mission Impossible" costar Tom Cruise. The next day on set, Ferguson decided to challenge her costar and put an end to his unacceptable behavior. I'm going to work toward a tennis ball. Using a tennis ball attached to a stick as a focal point for the actors to look at is common in movies when CGI is involved.
Persons: Rebecca Ferguson, Josh Smith, couldn't, Tom Cruise, Ferguson, Hugh Jackman, It's, Hugh, Hercules, Dwayne Johnson, Rebecca, — Dwayne Johnson, wouldn't Organizations: Business, Mondadori
CNN —Rebecca Ferguson may use “the Voice” while playing her powerful “Dune” character, but she also knows how powerful her own voice can be in real life. While Ferguson ruled out two former costars in the podcast interview – namely, Hugh Jackman and Tom Cruise – speculation has run rampant as to whom she might have been talking about. One of her previous scene partners surfaced on social media to praise the actress for her bravery – Dwayne Johnson, who wrote on X, “Hate seeing this but love seeing her stand up to bulls–t. “I remember being so scared and I looked at this person and I said, ‘You can F off. “I’m not scared of the consequences of saying what I think,” Ferguson said.
Persons: Rebecca Ferguson, Josh Smith, , , , Ferguson, Hugh Jackman, Tom Cruise, – Dwayne Johnson, Rebecca, ” Johnson, Emily Blunt, couldn’t, Ferguson –, ’ ”, “ I’m, ” Ferguson Organizations: CNN
His hero, Paul Atreides, is filled with doubts about his role as a Messianic leader and director of colonial conquest. (The distributor of “Dune” and “Dune: Part Two” shares a parent company, Warner Bros. So in the movie, it’s not just Paul who sees problems with his colonial power. Timothée Chalamet in "Dune: Part Two" Warner Bros. PicturesIn the book, Chani is mostly supportive of Paul, with few reservations. Paul feels bad for being the destined one; Herbert and Villeneuve, to varying degrees, seem to regret making Paul the destined one.
Persons: Noah Berlatsky, CNN — Frank Herbert’s, revel, Whitey, Edgar Rice Burroughs, James Fenimore Cooper, Rider Haggard, Herbert, Paul Atreides, Noah Berlatsky Noah Berlatsky Denis Villeneuve’s, , Villeneuve, he’s, Paul, Timothée, Atreides, Paul’s, Leto Atreides, Oscar Isaac, Arrakis, Emperor, Christopher Walken, Baron Harkonnen, Stellan, Leto, Jessica, Rebecca Ferguson, Natty Bumppo, it’s, Chani, Tasha Suri’s “, Ambha, Sriduangkaew’s, Thompson’s, Suri, Viet Thanh Nguyen, Paul doesn’t, Organizations: CNN, Warner Bros, Pictures Locations: Chicago, swash, Vietnam
From that moment on, we became childhood best friends, and now we are trying to rekindle that friendship in college. We loved to be in the spotlight, dancing ballet in "The Nutcracker" every year — making sure we knew all the parts. We were navigating the end of middle and beginning of high school without each other — a pivotal moment of development, and our lives didn't align. We are now getting a second chance at friendshipI graduated from high school during the start of the pandemic in 2020 when Rebecca was still a junior. Rebecca moved to California with her parents after high school.
Persons: I've, Rebecca, It's Organizations: Service, Cottonwood Preschool, Emerson College, Emerson, Boylston, AMC, Boston Ballet Locations: Littleton , Colorado, California
CNN —If David Lynch’s 1984 “Dune” movie raced through the book, the second half of director Denis Villeneuve’s version at times moves as if it’s walking in sand, figuratively as well as literally. The technical wizardry, which earned the 2021 film six Oscars, certainly lends itself to big-screen consumption, and Warner Bros. (like CNN, a unit of Warner Bros. Other new players include Christopher Walken and Florence Pugh as the emperor and his daughter, Léa Seydoux, and briefly, Anya Taylor-Joy. Warner Bros. PicturesWith composer Hans Zimmer’s muscular score (and the overall sound) working overtime, Villeneuve is at his best when depicting the fascistic power of the Harkonnens and their sprawling military machine. “Dune” premieres March 1 in US theaters.
Persons: David Lynch’s, Denis Villeneuve’s, Frank Herbert’s, Paul Atreides, Mahdi, – Paul, Stellan, Rabban, Dave Bautista, Austin Butler, Elvis, Sting, Butler, Christopher Walken, Florence Pugh, Léa Seydoux, Anya Taylor, Joy, Léa, Hans Zimmer’s, Villeneuve, Jon Spaihts, ” There’s, Lady Jessica, Rebecca Ferguson, , “ Wonka, callow, Javier Bardem, Dune’s ”, hasn’t Organizations: CNN, Zendaya, Warner Bros, Villeneuve Locations: Hollywood’s
Doug Peters/PA Images/Alamy Images/Sipa USATimothée Chalamet in Haider Ackermann at the London premiere. Jeff Spicer/Getty ImagesLea Seydoux in an intricately-embroidered Louis Vuitton gown at the London premiere. Marc Piasecki/Getty ImagesChalamet in Prada at the Mexico City premiere on February 6. Medios y Media/Getty ImagesButler in Saint Laurent in Mexico City. Angel Delgado/Getty ImagesChalamet in Hermès at a Mexico City photocall on February 5.
Persons: ” Law Roach, Zendaya, Rick Owens, Timothée Chalamet, Alexander McQueen, Paul Atreides, Roach, Thierry, Haider Ackermann, Florence Pugh, Valentino, Lea Seydoux, Rebecca Ferguson, Louis Vuitton, Anya Taylor, Joy, Dior, Doug Peters, Chalamet, Mike Marsland, Jeff Spicer, Hannah McKay, Scott A, Thierry Mugler, Daniel Leal, Samir Hussein, Austin Butler, Gucci, Ferguson, Marc Piasecki, Geoffroy Van Der, Pugh, Butler, Angel Delgado, Jaime Nogales Organizations: CNN, Balmain, London, Getty, Reuters, Paris, Chalamet, Givenchy Haute Couture, Couture, Mexico City, photocall Locations: Mexico City, Paris, London, Fendi, Bottega Veneta, Zendaya, Roksanda, Louis, Givenchy Haute, Geoffroy Van Der Hasselt, AFP, Prada, Mexico, Saint Laurent, Hermès
LONDON (AP) — Zendaya is on a fashion roll, in a cyborg “Dune: Part Two” kind of way. The co-star of the highly anticipated film sequel stunned Thursday at its world premiere when she hit the sand-strewn carpet in a silver robot suit straight from the archive of Mugler. Zendaya's body-hugging armor outfit with sheer plexiglass inserts has built-in gloves she paired with matching silver heels. While the runway version included a matching headpiece, Zendaya opted for a short sleek hairdo and a blue diamond necklace from Bulgari. Pugh, a newcomer to the world of “Dune” as the Emperor’s daughter, plays Princess Irulan with Austin Butler as Feyd-Rautha.
Persons: d’hiver, , Denis Villeneuve’s, Mugler, Law Roach, Zendaya, Timothée Chalamet, Josh Brolin, Rebecca Ferguson, Austin Butler, Florence Pugh, Villeneuve, Chalamet’s Paul Atreides, Zendaya's Chani, Pugh, Irulan, Stellan Skarsgard, Christopher Walken, Charlotte Rampling, Javier Bardem
LOS ANGELES (AP) — Denis Villeneuve doesn’t feel like he came back to Arrakis for “Dune: Part Two.” In his mind, he never left. Photos You Should See View All 21 Images“We all walked at the beginning into this project feeling confident,” Villeneuve said. “Dune: Part Two” cost a reported $122 million to produce and is arriving in theaters not a moment too soon. Christopher Nolan recently compared it to “The Empire Strikes Back.” Villeneuve demurred, but the internet went wild. “I think that’s the way movies will survive.”
Persons: — Denis Villeneuve doesn’t, , Frank Herbert’s, David Lean, Alejandro Jodorowsky, David Lynch, ” Villeneuve, Greig Fraser, they’d, Timothée Chalamet’s Paul Atreides, Paul, Jessica, Rebecca Ferguson, Villeneuve, Chalamet, “ Denis, ” Chalamet, “ It’s, Josh Brolin, Sicario, Gurney Halleck, Coen, I’ve, ” Brolin, it's, , he’s, Hans Zimmer, ’ ” Villeneuve, it’s, Christopher Nolan, ” Nolan, Herbert Organizations: ANGELES, Associated Press Locations: Arrakis, Budapest, Wadi Rum, Abu Dhabi, , Hollywood
At the People’s Bank of China in Beijing, regulators are trying to address the risks of the country’s hidden debt. Photo: mark r cristino/ShutterstockChina is trying to defuse a financial time bomb that could severely damage its banking system. Cities and provinces across the country have accumulated a massive amount of hidden debt following years of unchecked borrowing and spending. The International Monetary Fund and Wall Street banks estimate that the total outstanding off-balance-sheet government debt is around $7 trillion to $11 trillion. That includes corporate bonds issued by thousands of so-called local-government financing vehicles, which borrowed money to build roads, bridges and other infrastructure, or to fund other expenditures.
Organizations: People’s Bank of China, Monetary Fund Locations: Beijing, China, Cities
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