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☆ U.S. military slams ‘unsafe’ Russia fighter jet maneuver near Alaska
▼ + stars: | 2024-10-01 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +1 min

WASHINGTON — The U.S. military on Monday released video of what it said was an unsafe maneuver by a Russian fighter jet near Alaska during an intercept by the U.S. military last week. The United States regularly carries out aerial intercepts of Russian aircraft in international airspace near Alaska, and usually says they are carried out in a safe and professional manner. But this time was different, officials say. North American Aerospace Defense Command, known as NORAD, said on Sept. 23 that it detected and tracked four Russian military aircraft operating in the Alaska Air Defense Identification Zone. At the time, it said the Russian activity “occurs regularly and is not seen as a threat.”An air defense identification zone is international airspace just beyond a country’s sovereign territory that approaching aircraft to identify themselves.

Persons: WASHINGTON, Gregory Guillot Organizations: U.S, United, ” Air Force, North American Aerospace Defense Command, NORAD, Alaska Air Defense Locations: The, Russian, Alaska, United States, North America, Washington

WASHINGTON — The U.S. Secret Service recently notified Vice President Kamala Harris’ office about an incident involving one of its agents and a “misconduct allegation,” according to spokespeople for both the USSS and the vice president's office. “The U.S. Secret Service Office of Professional Responsibility is investigating a misconduct allegation involving an employee," an agency spokesperson said. "The Secret Service holds its personnel to the highest standards. "Senior OVP officials were alerted by the USSS about an incident involving an agent and informed that USSS initiated an investigation. The Office of the Vice President will not be releasing further information.”Real Clear Politics reported earlier on Wednesday that a Secret Service agent is accused of sexually assaulting a Harris staffer in Green Bay, Wisconsin.

Persons: WASHINGTON, Kamala Harris, Harris, ” Harris, USSS, groping Organizations: Secret Service, Service, Clear Politics, Secret, NBC News Locations: The, Green Bay , Wisconsin

☆ 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

☆ Budget office projects Biden green energy plan will cost much more than initial estimate
▼ + stars: | 2024-02-07 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

WASHINGTON — The U.S. budget deficit will grow by an estimated $1 trillion over the next 10 years, the nonpartisan Congressional Budget Office projected in a new report Wednesday. "I came to office determined to ... face the existential threat of climate and still grow, to fundamentally change our economy, and to transition this country to a clean energy future," Biden said last October. Taken together, CBO estimates that the impact of new emissions standards, clean energy tax credits and falling gas tax revenue as people buy less gas, will add $25 billion to the budget deficit this year. "Those costs reflect new emissions standards, market developments, and actions taken by the administration to implement the tax provisions." The CBO also noted that there are still many unknowns about how green energy will impact the economy and the federal budget longer term.

Persons: WASHINGTON, Joe Biden's, Biden, Philip Swagel, EPA's Organizations: CBO, Environmental Protection Agency Locations: The, U.S

☆ Toyota financing arm fined $60 million by consumer watchdog for car loan scam
▼ + stars: | 2023-11-20 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

WASHINGTON — The U.S. financing arm for Toyota was fined $60 million Monday by a federal consumer regulator for preventing car buyers from canceling add-ons to their loans. "Toyota's lending arm illegally withheld refunds, made borrowers run through obstacle courses to cancel unwanted services, and tarnished their credit reports," said Consumer Financial Protection Bureau Director Rohit Chopra. Toyota Motor Credit Corp., or TMCC, violated the Consumer Financial Protection Act by preventing customers from canceling loan add-ons that cost on average between $700 and $2,500 per loan, according to a consent order. TMCC is ordered to pay $48 million in consumer redress and a $12 million civil money penalty to the CFPB's victims relief fund. "Given the growing burdens of auto loan payments on Americans, we will continue to pursue large auto lenders that cheat their customers," Chopra said.

Persons: WASHINGTON, Rohit Chopra, Chopra, Vincent Bray Organizations: Toyota, Financial, Toyota Motor Credit Corp, Consumer Financial, Bureau, Toyota Financial Services, CNBC Locations: The U.S

☆ Biden hails hot GDP report, but voters don't see the rosy picture Wall Street does
▼ + stars: | 2023-10-26 | by ( Emma Kinery | ) www.cnbc.com time to read: +1 min

President Joe Biden speaks during an event on the economy, from the South Court Auditorium of the Eisenhower Executive Office Building on the White House complex, Monday, Oct. 23, 2023. WASHINGTON — The U.S. GDP grew at 5% last quarter, better than expected, and President Joe Biden said it was evidence that his economic policies are working. The number beat Wall Street expectations and marked the biggest quarterly GDP gain since late 2021. For months, Biden has traveled the country giving speeches on his economic agenda, dubbed "Bidenomics," and the booming economy. Yet polling shows Americans overall are still uncertain that the economy is truly strong, and voters still favor Republicans on economic issues.

Persons: Joe Biden, Eisenhower, WASHINGTON —, Biden Organizations: South, WASHINGTON, Bidenomics, Thursday's Commerce, White Locations: WASHINGTON — The, Thursday's, U.S

☆ U.S. State Department issues 'worldwide caution' alert as tensions in the Middle East soar
▼ + stars: | 2023-10-19 | by ( Amanda Macias | ) www.cnbc.com time to read: 1 min

Palestinian civil defence members and others carry a youth after being rescued from a building hit by Israeli bombardment in Khan Yunis on the southern Gaza Strip on October 19, 2023. WASHINGTON — The U.S. State Department issued a worldwide caution alert on Thursday due to soaring tensions in the Middle East and elsewhere triggered by the ongoing Israel-Hamas war. Citing the "potential for terrorist attacks, demonstrations or violent actions against U.S. citizens and interests," the State Department warned Americans abroad to exercise increased caution. The State Department and the White House did not immediately respond to CNBC's requests for comment.

Persons: Khan Yunis, WASHINGTON — Organizations: WASHINGTON, WASHINGTON — The U.S . State Department, U.S, State Department, White Locations: Khan, Gaza, WASHINGTON — The, Israel

☆ SEC fines Goldman Sachs $6 million over inaccurate, incomplete trading information
▼ + stars: | 2023-09-22 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

WASHINGTON — The U.S. Securities and Exchange Commission on Friday announced a $6 million penalty against Goldman Sachs for providing incomplete and inaccurate trading information to the regulator. The banking giant made more than 22,000 deficient "blue sheet" submissions over a roughly 10-year period, affecting at least 163 million transactions, according to an SEC order. The SEC routinely sends these electronic requests to brokers for securities trading information to identify buyers and sellers. The firm is "pleased to have resolved this matter," Abbey Collins, a spokesperson for Goldman Sachs, told CNBC. But the SEC also found that Goldman had insufficient internal processes to verify the accuracy of its blue sheet submissions.

Persons: WASHINGTON, Goldman Sachs, Thomas P, Smith Jr, Goldman, Abbey Collins, Collins Organizations: The U.S . Securities, Exchange Commission, SEC, New York Regional Office, CNBC Locations: The

☆ SEC slaps Citadel Securities LLC with $7 million fine to settle short selling charges
▼ + stars: | 2023-09-22 | by ( Chelsey Cox | ) www.cnbc.com time to read: 1 min

WASHINGTON — The U.S. Securities and Exchange Commission fined Citadel Securities LLC $7 million for settling charges of violating order marking requirements, the commission announced Friday. The SEC estimated that the firm marked millions of certain short sale orders as long sales, and vice versa, between September 2015 and September 2020, according to the commission. The source of the inaccuracies was a coding error in Citadel's automated trading system during this time frame, the SEC found. A Citadel spokesperson told CNBC that the matter "had no impact on the quality of our client execution." "While updating our systems to accommodate certain client requests, we made a coding change that inadvertently affected a de minimis percentage of our order markings," the spokesperson added.

Persons: WASHINGTON Organizations: The U.S . Securities, Exchange Commission, Citadel Securities, SEC, Citadel, CNBC Locations: The

☆ Biden labor secretary sees 'slow and steady' growth in July jobs report
▼ + stars: | 2023-08-04 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

Julie Su, nominee to serve as Secretary of Labor, arrives for her confirmation hearing in the Senate Health Education Labor & Pensions Committee on Thursday, April 20, 2023. WASHINGTON — The U.S. economy saw the smallest jobs increase in July since December 2020, but Acting Labor Secretary Julie Su said the number reflects what experts increasingly believe see as a "soft landing" for the U.S. economy. Nonfarm payrolls increased by 187,000 last month, slightly below expectations, and the unemployment rate fell slightly to 3.5%. "This is an example of what slow and steady growth looks like," Su told CNBC's "Squawk on the Street" on Friday. She also touted the "very high labor force participation rate, especially among prime-age workers aged 25 to 54."

Persons: Julie Su, WASHINGTON —, Su, CNBC's Organizations: Labor, Health Education Labor, Pensions, WASHINGTON Locations: WASHINGTON — The U.S, U.S

☆ 'Oppenheimer' mania pushes Army to warn of long tourist lines at Trinity atomic test site
▼ + stars: | 2023-07-24 | by ( Amanda Macias | ) www.cnbc.com time to read: +2 min

A photograph of the 16 July 1945 first atomic bomb test is displayed along a fence at Ground Zero at Trinity Site, at the White Sands Missile Range in New Mexico 05 July 2005. WASHINGTON — The U.S. Army said its upcoming open house of the Trinity Site is expected to receive "a larger than normal crowd" due to the overwhelming popularity of Universal's "Oppenheimer." The Trinity Site on White Sands Missile Range in New Mexico is where the world's first atomic bomb was tested. Twice a year the U.S. Army allows visitors to tour the site where the "Gadget," a six-foot sphere with a grapefruit-sized powerful plutonium heart, was detonated. Following the open house in October, the U.S. Army will allow visitors again on April 6, 2024.

Persons: WASHINGTON —, Oppenheimer, J, Robert Oppenheimer, Read, —, John Donne Organizations: White, WASHINGTON — The U.S . Army, Manhattan Project, Raytheon, U.S . Army, U.S, Comcast, CNBC Locations: New Mexico, WASHINGTON — The, American, British, Hiroshima, Nagasaki, NBCUniversal

The White House is seen on June 25, 2023 in Washington, DC. WASHINGTON — The U.S. Secret Service is investigating a "small amount" of a "white, powdery substance" discovered in a "work area in the West Wing" on Sunday, a Secret Service official said. The Secret Service is testing the substance, which they determined was "non-hazardous," and said in a statement they are investigating the matter. "On Sunday evening, the White House complex went into a precautionary closure as officers from the Secret Service Uniformed Division investigated an unknown item found inside a work area," said Anthony Guglielmi, a spokesman for the Secret Service. The White House declined to comment.

Persons: WASHINGTON —, —, Anthony Guglielmi, Joe Biden, Camp David Organizations: WASHINGTON, Service, D.C, Secret Service Uniformed Division, Secret, DC Fire Department, White, Camp Locations: Washington , DC, WASHINGTON — The, Washington

☆ Citizens Bank fined $9 million for mismanaging fraud complaints
▼ + stars: | 2023-05-23 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

The agency resolved its 2020 lawsuit against Rhode Island-based Citizens Bank for violating the Truth in Lending Act, which protects consumers against unfair credit billing and credit card practices. The CFPB said in its suit that the bank automatically denied fraud claims and billing error notices in certain circumstances. "As outstanding credit card debt approaches $1 trillion, the CFPB will be closely watching the conduct of the credit card industry." Citizens Bank noted that the issue involved a small subset of its credit card customers. Citizens Bank is among the 15 largest consumer banks in the U.S. with branches and ATMs in 14 states and Washington, D.C.

☆ Army Grounds Nonessential Flights After 2 Helicopter Crashes
▼ + stars: | 2023-04-28 | by ( John Ismay | ) www.nytimes.com time to read: +1 min

WASHINGTON — The U.S. Army said on Friday that it was grounding all Army flights except those needed for critical missions until aviation squadrons complete required training after two deadly helicopter crashes in a month. Units can resume flights after completing the daylong training, which can begin as early as Monday. Active-duty units are required to complete the training by May 5, and Army National Guard and Reserve units will have until May 31. The grounding of flights follows the deaths of 12 soldiers in two separate midair collisions during training missions. Both incidents remain under investigation, and there is no indication of any pattern between the two mishaps, the Army said in its statement.

☆ Janet Yellen says U.S. economic competition with China must be 'fair to both sides'
▼ + stars: | 2023-04-20 | by ( Chelsey Cox | ) www.cnbc.com time to read: +5 min

China has pivoted away from market reforms "toward a more state-driven approach that has undercut its neighbors and countries across the world," Yellen said. Her comments come as Washington, and the Republican-held House in particular, increase pressure on Beijing as part of a sustained U.S. backlash against China's economic tactics. WASHINGTON — The U.S. seeks healthy economic competition with China even as the country pursues intellectual property to gain an economic edge, Treasury Secretary Janet Yellen said Thursday. Hundreds of Chinese firms are listed on our stock exchanges, which are part of the deepest and most liquid capital markets in the world," Yellen said. Yellen vowed to partner with U.S. allies in countering China's "unfair economic practices" while advancing "our vision for an open, fair, and rules-based global economic order."

Principal Deputy IRS Commissioner Daniel Werfel testifies before the House Small Business Committee at a hearing on "The Internal Revenue Service And Small Businesses: Ensuring Fair Treatment" in Washington, July 17, 2013. One of Werfel's priorities at the IRS will be ensuring that the wealthiest Americans pay their full tax bills. President Joe Biden's pick to lead the IRS won the support of nearly every Senate Democrat, plus a handful of Republicans. "Confirming someone as qualified as Mr. Werfel as IRS Commissioner is crucial to making sure Americans take full advantage of all the tax credits we approved last year," Senate Majority Leader Chuck Schumer said Monday on the Senate floor. He later served as acting IRS commissioner in 2013.

WASHINGTON — The U.S. House Foreign Affairs Committee voted Wednesday to advance a bill that would grant President Joe Biden the authority to ban TikTok, the Chinese social media app used by more than 100 million Americans. Yet even as Democrats objected, many of them said they did so regretfully, and they would have much preferred to support a version of McCaul's TikTok ban. "My bill empowers the administration to ban TikTok or any other software application that threatens U.S. national security." "It would be unfortunate if the House Foreign Affairs Committee were to censor millions of Americans," TikTok spokeswoman Brooke Oberwetter told CNBC in an email Monday. On Monday, the Biden administration released new implementation rules for a TikTok ban that applies only to federal government-owned devices, which was passed by Congress in December.

WASHINGTON — The U.S. House Foreign Affairs Committee plans to take up legislation Tuesday that would give President Joe Biden the authority to ban TikTok, the Chinese social media app used by more than 100 million Americans. 1153 will effectively leap frog several other proposals to ban TikTok that were previously introduced in the House and Senate, but haven't yet advanced through the committee process. My bill empowers the administration to ban TikTok or any software applications that threaten U.S. national security," McCaul said in a statement Monday. "It would be unfortunate if the House Foreign Affairs Committee were to censor millions of Americans," TikTok spokeswoman Brooke Oberwetter told CNBC in an email Monday. At the time, ByteDance was looking to potentially spin off TikTok to keep the app from being shut down.

☆ U.S. will create at least two semiconductor manufacturing clusters by 2030, Commerce Secretary Gina Raimondo says
▼ + stars: | 2023-02-23 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

Commerce Secretary Gina Raimondo testifies before a Senate Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies hearing on Capitol Hill in Washington, D.C., U.S., February 1, 2022. WASHINGTON — The U.S. will use funds from the $52 billion CHIPS and Science Act to create at least two large-scale logic fabs for the manufacture of semiconductors, along with multiple high-volume advanced packaging facilities, by 2030, Commerce Secretary Gina Raimondo announced Thursday. U.S.-based manufacturing plants, known as "fabs," will produce advanced memory chips "on economically competitive terms," Raimondo said. "This is fundamentally a national security issue," she said. The Commerce secretary reiterated the government's plans to invest $11 billion in what it calls a National Semiconductor Technology Center.

WASHINGTON — The U.S. military shot down a "high altitude object" in American airspace off the coast of Alaska on Friday, the White House announced, less than a week after a similar object was shot down off the coast of South Carolina. "We're calling this an object because that's the best description we have right now," said White House spokesman John Kirby, adding "we don't know what entity owns this object." The spy balloon shot down this past weekend was approximately the size of three school buses, according to Pentagon officials. The latest incident differed significantly from the previous high-altitude balloon in that this object was shot down within hours of its detection. The larger, previous balloon was permitted to float across the United States for a week.

☆ Angry senators grill Pentagon officials over Chinese spy balloon response
▼ + stars: | 2023-02-09 | by ( Christina Wilkie | ) www.cnbc.com time to read: +2 min

Rear Admiral Fred Kacher, director for operations of the Joint Staff, during a Senate Appropriations Subcommittee hearing in Washington, DC, US, on Thursday, Feb. 9, 2023. Senator Lisa Murkowski (R-AK) questions witnesses during a Senate Appropriations Defense Subcommittee hearing on Capitol Hill about the suspected Chinese spy balloon that was shot down in Washington, U.S., February 9, 2023. The hearing was part of a series of events Thursday morning in Congress, all related to the spy balloon. In the House, a resolution condemning "the Chinese Communist Party's use of a high-altitude surveillance balloon" passed unanimously, 419-0. That vote took place shortly after House members received a classified briefing about the balloon and the recovery efforts from defense and intelligence officials.

☆ House Republicans pass bill to limit drawdowns on Strategic Petroleum Reserve
▼ + stars: | 2023-01-27 | by ( Christina Wilkie | ) www.cnbc.com time to read: +3 min

A maze of crude oil pipe and equipment is seen with the American and Texas flags flying in the background at the Strategic Petroleum Reserve in Freeport, Texas. WASHINGTON — The U.S. House of Representatives passed a bill Friday aimed at limiting the president's ability to draw down the nation's Strategic Petroleum Reserve for any reason other than a "severe energy supply disruption." Friday's legislation marked the second time that the GOP-controlled House has passed a bill related to the SPR. Following Friday's passage, the bill's chief sponsor, House Energy and Commerce Committee Chair Cathy McMorris Rodgers, applauded the vote. "President Biden has turned a longtime bipartisan strategic asset, the Strategic Petroleum Reserve, into a political tool to cover up the consequences of his expensive rush-to-green agenda," she said in a statement.

WASHINGTON — The U.S. government is hitting its statutory debt limit on Thursday, requiring the Treasury Department to begin resorting to "extraordinary measures" to pay the bills. It is therefore critical that Congress act in a timely manner to increase or suspend the debt limit," Yellen wrote. But the White House has made clear what President Joe Biden's offer to lift the debt ceiling is: nothing. There should be no political brinkmanship with the debt limit. "We cannot raise the debt ceiling," Rep. Andy Biggs, R-Ariz., said Tuesday on Twitter.

☆ USPS can keep delivering prescription abortion drugs, DOJ says
▼ + stars: | 2023-01-04 | by ( ) www.nbcnews.com time to read: +3 min

Postal Service (USPS) can continue to deliver prescription abortion medication despite a June 2022 Supreme Court ruling that overturned a landmark abortion rights decision, the Justice Department said on Tuesday. Evelyn Hockstein / Reuters/Alamy fileMifepristone is a prescription drug approved by the Food and Drug Administration (FDA) to induce an abortion up to 10 weeks into a pregnancy. It must be followed by a second drug, misoprostol. A Justice Department spokesman declined to comment on the opinion. Restrictions on the abortion medication lifted in 2021 had been in place since the FDA had approved the drug in 2000.

Democrats will wield an expanded 51-seat Senate majority and control the presidency. We need to be cutting spending,” McCarthy told reporters after a meeting with Senate Republicans on Dec. 21. There’s so much discombobulation and disunity on different sides of the Republican caucus,” Senate Majority Leader Chuck Schumer, D-N.Y., told reporters before the holiday recess. Conservative lawmakers say a GOP House should block a debt limit increase without major policy changes to rein in spending. Some House Republicans are already calling to impeach Homeland Security Secretary Alejandro Mayorkas over his department's handling of immigration policy.

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