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☆ I was laid off and forced to retire in my 50s. I wish I'd started planning sooner, but my investment portfolio helped — and life is good.
▼ + stars: | 2024-10-30 | by ( ) www.businessinsider.com time to read: +7 min

They have IRAs, savings accounts, and an investment portfolio to help during retirement. Like most people, I didn't really start thinking about retirement until I was past my mid-40s. With no house or vehicle payments, utilities, or property taxes, our investment income exceeds our budgeted monthly living expenses. Outside of that, we have our IRAs, savings accounts, and a small self-directed investment portfolio. Life Is What You Make ItLooking back, I wish I'd started sooner, but I was fortunate.

Persons: Chris Mott, couldn't, Mott, —, I'm, Chris, Kim, Dodge, I've, It's, we've, I'd, Gigi, Papa, Manseen Logan Organizations: Service, Western, Social Security Locations: California, Western United States, Canada, Orange County, Yorba Linda, Vancouver , Washington, Orange, Lake Havasu, mlogan

☆ NY Republican in critical House race spent huge sums of campaign cash on steakhouses, booze, a foreign hostel and home supply materials
▼ + stars: | 2024-10-25 | by ( Gregory Krieg | Em Steck | ) edition.cnn.com time to read: +7 min

The campaign also spent a little more than $43,000 on Ubers since August 2022. D’Esposito campaign spokesman Matt Capp called the five-figure Uber charge “a filing error which will be corrected and does not represent an Uber invoice.”In one eyebrow-raising section of the filings, the campaign spent nearly $600 for a hostel in Edinburgh, Scotland, on Memorial Day this year. But there is no clear connection between much of the D’Esposito campaign’s spending at those establishments and official campaign fundraising events. Santos was expelled from Congress in December of last year and recently pled guilty to aggravated identity theft and wire fraud charges stemming from, among other things, misusing campaign funds during his 2022 midterm campaign. The FEC, an agency charged with enforcing campaign finance laws, keeps records of donor contributions and spending by campaigns and outside political groups.

Persons: Anthony D’Esposito’s, D’Esposito, unethically, Republican congressman’s, Matt Capp, “, ” Capp, Capp, D’Esposito “, ”, ‘, ’ ”, Dan Weiner, Brennan, ” Weiner, George Santos, Santos, Laura Gillen, itemize, Robert Gies, Gies, ” Saurav Ghosh, ” Ghosh Organizations: CNN, New York Rep, New York Times, Republican, ”, New York Police Department, New, Republicans, FEC, Capitol, Representatives, Federal Locations: steakhouses, Edinburgh, Scotland, South Shore, ” Long, New York City, New York, Gies

☆ Marxist-leaning president takes power in Sri Lanka, a country long led by dynasties
▼ + stars: | 2024-09-23 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +2 min

COLOMBO — Sri Lanka’s leftist leader Anura Kumara Dissanayake took office as president on Monday, promising change in the island nation long led by powerful political families which is emerging from its worst economic crisis in more than seven decades. Supporters of Sri Lanka's newly elected President Anura Kumara Dissanayaka, celebrate in Colombo. Before Monday’s swearing-in, Prime Minister Dinesh Gunawardena resigned to make way for the new prime minister and his cabinet. Sri Lanka’s sovereign dollar bonds shed 2.88 to 3.28 cents on the dollar in early trade on Monday to bid between 49.14 and 49.77 cents. Sri Lanka’s close neighbors India, Pakistan, and the Maldives also congratulated Dissanayake on his win, along with China, the largest bilateral creditor.

Persons: Anura Kumara Dissanayake, Lankans, “, ” Dissanayake, Sri Lanka's, Anura Kumara Dissanayaka, Ishara, Ranil Wickremesinghe, ”, beautician, Dinesh Gunawardena, Gotabaya Rajapaksa, Dissanayake, Sri Lanka’s Organizations: Sri, Kodikara, Getty, International Monetary Fund Locations: COLOMBO, Colombo, AFP, India, Pakistan, Maldives, China

☆ Biden administration awards Intel up to $3 billion under the Chips Act
▼ + stars: | 2024-09-16 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +2 min

The Biden Administration on Monday awarded Intel up to an additional $3 billion under the CHIPS and Science Act for the "Secure Enclave" program which is designed to expand the supply of microelectronics for the U.S. Department of Defense. Intel is building foundry plants in four states as part of its project to increase domestic semiconductor manufacturing for other suppliers. In March, the Biden administration awarded Intel with up to $8.5 billion under the CHIPS and Science Act. Intel CEO Pat Gelsinger, in a recent meeting with Commerce Secretary Gina Raimondo, voiced frustration over the heavy reliance that U.S. companies have on Taiwan Semiconductor Manufacturing, the world's largest contract chipmaker. The company announced in August it would cut 15% of its workforce as part of a $10 billion cost-reduction plan.

Persons: Biden, Pat Gelsinger, Gina Raimondo, Intel's, Chris George, —, Seema Mody, Rohan Goswami Organizations: Biden, U.S . Department of Defense, Intel, CNBC, Taiwan Semiconductor Manufacturing, Department of Defense, Rapid, Microelectronics, United States Locations: United

☆ Intel getting help from Commerce Secretary Raimondo as part of effort to spur U.S. production
▼ + stars: | 2024-09-12 | by ( Seema Mody | ) www.cnbc.com time to read: +4 min

The company is turning to Commerce Secretary Gina Raimondo for help. In a recent meeting with Raimondo, Intel CEO Pat Gelsinger voiced frustration over the heavy reliance that U.S. companies have on Taiwan Semiconductor Manufacturing , the world's largest contract chipmaker. Intel is currently building out plants in four U.S. states as it seeks to become more of a foundry business, manufacturing chips for other suppliers. It's an increasingly important initiative for Intel, which is getting trounced in the market for microprocessors. Concerns have been rising for years that China could invade Taiwan, creating a massive risk for the U.S. chip industry.

Persons: Gina Raimondo, Joe Biden, Raimondo, Pat Gelsinger, chipmaker, Biden, It's, David Zinsner, Zinsner, Jensen Huang, Goldman Sachs, Huang, David Solomon Organizations: Semiconductors, America, White, Intel, U.S, Taiwan Semiconductor Manufacturing, Nvidia, Apple, CNBC disbursements, Devices, U.S . Commerce Department, AMD, Google, Broadcom Locations: U.S, Taiwan, Arizona, China

The biggest chunk – about $1.9 million – was spent by Trump’s campaign and fundraising committees on a Trump-owned company that operates his jet. Karoline Leavitt, a spokesperson for Trump’s campaign, said that “committees are paying the fair market rate for all venues and services” provided by Trump businesses. The dynamic of candidates shelling out thousands on Trump’s businesses while vying for his endorsement – which can make or break Republican campaigns – is an example of how politics has boosted his businesses’ bottom line. About 150 congressional candidates have reported spending campaign funds at Trump businesses, including some Democrats in the years before his first presidential bid. Walker’s campaign spent a total of nearly $215,000 at Mar-a-Lago, Trump’s West Palm Beach golf club and his Las Vegas hotel.

Persons: Donald Trump, Bernie Moreno, who’d, wasn’t, glitzy, Trump, spender, who’ve, Moreno, Herschel Walker, Kari Lake, Trump’s, Karoline Leavitt, –, “ He’s, ”, Daniel Weiner, Brennan, New Jersey Sen, Robert Menendez’s, Delaware Sen, Chris Coons, Joe Biden, Jeff Dean, AP Moreno, J.D, Vance, ” Moreno, Kimberly Guilfoyle, Donald Trump Jr, David B, Cohen, ” Cohen, Reagan McCarthy, “, Walker’s, Walker, Scott Paradise, Sean Rayford, spenders, Lake, John Gibbs of, Vernon Jones of, Kathleen Clark, St . Louis, ” Leavitt, It’s, Weiner, ” Weiner, Lara Trump, hawking, Donald Trump's Mar, Joe Raedle, MAGA, Laurence Leamer, Lago, Leamer, ” Leamer, “ It’s, Steve Contorno, Kyung Lah, Alex Leeds Matthews, Alayna Treene Organizations: CNN, Ohio’s Senate, Trump’s, Florida, Republican, Republicans, GOP, Trump, Georgia Senate, Arizona, Mar, Republican Party, New, Trump National Golf Club, Ohio Senate, Senate, Twitter, University of Akron, Las, Former Republican, The Washington Post, Washington University, Super, TAG Air, Inc, Boeing, “ Trump Force, Brennan, Republican National Committee, RNC, Fund, National Republican Congressional, White Locations: Ohio’s, Lago, Georgia, Trump, New Jersey, Virginia, Delaware, Florida, Vandalia , Ohio, Ohio, Cleveland, Palm Beach, Las Vegas, Arizona, Majewski, John Gibbs of Michigan, Vernon Jones of Georgia, Mar, St ., Palm Beach , Florida, American

Aiming to unseat three-term Democratic incumbent Jon Tester, Sheehy is founder of Montana-based Bridger Aerospace, an aerial firefighting company. On July 1, Sheehy resigned as chief executive of Bridger to focus on his Senate campaign; the company is seeking a replacement. In mid-June, an editorial in The Wall Street Journal echoed Griffin’s view, branding Sheehy’s company Bridger a success. The PAC spent $5.3 million for Sheehy and $5.7 million against his opponent, Tester, records show. In 2022, Sheehy’s cash and stock compensation neared $5 million, and last year, he received $2.5 million, Bridger’s proxy says.

Persons: Donald Trump, Tim Sheehy, Jon Tester, Sheehy, “, Bridger, Tim, ” Katie Martin, Louise Johns, Ken Griffin, Griffin, Stephen Schwarzman, “ Tim Sheehy, ” Griffin, Marc Cohodes, Cohodes, Sheehy’s, ”, Scott Olson, Blackstone, Matthew Sheehy, Bridger’s, Blackstone Tim Sheehy, Blackstone’s, ” Jon Tester, Andrew Harnik, Schwarzman, haven’t, Farrah Saint, Surin, Matthew, Martin, Bridger ”, Montana . Don, Melinda Crawford, Todd Hirsch, Thomas A, Waldman, Yocca Carlson, I’ve Organizations: Navy, Republican, Montana, Bridger Aerospace, International, Interior Department, U.S . Forest Service, Agriculture Department, Bloomberg, Getty, Wall, Citadel LLC, PAC, Commission, The Blackstone, “ Bridger Aerospace, Blackstone, Small Business Administration, Republican National Convention, Trump, ”, Cattle Company, Tallgrass Energy, Blackstone Group, Bridger, Forest Service, Bridger Air Tanker LLC, Bridger Air Tanker, SBA, ” Companies, Federal, NBC News, Mountain Air LLC, Mountain Air, Air, Service, U.S ., “, Montana ., Rauth Locations: Bozeman , Montana, Bozeman, Mont, New York City, Bridger, America, Montana, Gallatin County, Milwaukee, Riding, disbursements, Surin, ” Saint, U.S, Los Angeles

Based on Trump's social media commentary, more about their relationship may be coming soon. Trump wrote in a post on Truth Social on Tuesday that the two will be speaking together publicly next week. Trump wrote. 'I have no choice'Since gaining Musk's support, Trump has returned the praise. On the day of Trump's speech in Nashville, Musk wrote "Save our kids!"

Persons: Elon Musk, Donald Trump, Evan Vucci, Donald Trump's, Trump, he'd, Elon, He's, Musk, What's, podcaster Jordan Peterson, they've, Kamala Harris, he's, it's, Joe Biden, Steven Cheung, Biden, Tesla wasn't, Tesla, Ron DeSantis, DeSantis, David Sacks, Trump's, CNBC's Joe Kernen, they're, Harris, Mark Fields, —, Fields, CNBC's Brian Sullivan, Giorgia Meloni, Javier Milei, Jair Bolsonaro, Narendra Modi, Benjamin Netanyahu, Kevin Mohatt, Kamala, Mike Moritz, Moritz, Brian Schwartz, Christina Wilkie Organizations: SpaceX, White, AP NASHVILLE, Bitcoin Conference, Elon, Music City Center, Trump, Republican, PAC, North Carolina Attorney General's, America PAC, ELON, Biden, General Motors, Ford, Musk, Tesla, Bitcoin, Italian, Indian, Capitol, Air Force, Joint Base Andrews, Financial Locations: Washington, Tenn, —, Nashville, Memphis , Tennessee, Pennsylvania, Michigan, tamp, Florida, Lago, China, U.S, Atlanta, Gaza, Wisconsin, Joint Base Andrews , Maryland, West Palm Beach , Florida, Silicon Valley

“The award of $464 million in a case with no victims, no proven injuries, and no losses is not remotely defensible,” Trump’s lawyers wrote. According to Trump’s attorneys, Trump personally should have been dismissed as a defendant. The Trump attorneys accused Engoron of enacting a “punitive” penalty against the former president that was unconstitutional. Just like at trial, Trump’s lawyers in particular took issue with a reference in Engoron’s summary judgment opinion that Trump’s Mar-a-Lago resort was valued at $18 million. During the trial, Engoron said that he was not trying to assess the value of the property when he referenced the tax assessor value.

Persons: Donald Trump, Arthur Engoron, Trump, – Donald Trump Jr, Eric Trump –, “, ”, Engoron, Ivanka Trump, Letitia James, Trump’s, Lago, Chris Kise, ” Kise Organizations: CNN, New, Trump Organization, Post, Trust, New York, Trump, Post Office Locations: York, New York, Washington ,, Manhattan, Lago

Gox, the Japanese bitcoin exchange that collapsed into bankruptcy a decade ago, on Friday said that the company has begun to make payments in bitcoin and in bitcoin cash to some of its creditors. After declaring bankruptcy, 140,000 of the missing bitcoin were recovered — which means that roughly $9 billion worth of bitcoin will be returned to owners, in today's prices. Gox, Arkham Intelligence said Friday. Gox users, according to Arkham. A further $63.6 million of bitcoin was sent to an unknown counterparty, which Arkham said was "likely a listed repayments exchange."

Persons: Thomas Trutschel, Gox, bitcoin, Arkham Organizations: Photothek, Arkham Intelligence Locations: Mt, Gox, bitcoin, Tokyo, Arkham

In a few days, bankrupt Tokyo-based bitcoin exchange Mt. Disbursements will be in a mix of bitcoin and bitcoin cash, an early offshoot of the original cryptocurrency. Gox — short for "Magic: The Gathering Online Exchange" — was once the largest spot bitcoin exchange globally, claiming to handle around 80% of all global dollar trades for bitcoin. Gox users would likely translate to huge sales in bitcoin as investors look to lock in gains. Vijay Ayyar, head of consumer growth for Asia-Pacific at crypto exchange Gemini, said that the overall impact of the Mt.

Persons: Omer Taha Cetin, that's, Disbursements, bitcoin, Gox, —, John Glover, Glover, James Butterfill, bitcoin's, Gemini, Lennix Lai, Butterfill, Bitcoin, Jacob Joseph, Joseph, Alex Thorn, Thorn, Vijay Ayyar, Gox disbursement, Ayyar Organizations: Anadolu, Getty, CNBC, bitcoin, Barclays, CoinShares, Gemini, JPMorgan, Arkham Intelligence, Analysts, U.S . Securities, Exchange, Federal Reserve Locations: Tokyo, Gox, Mt, bitcoin, Asia, Pacific

Users of collapsed bitcoin exchange Mt. At the height of its success, the platform was the largest spot bitcoin exchange in the world, claiming to handle around 80% of all global dollar trades for bitcoin. Gox creditors creates "downside risk" next month, though it would be short-lived. Gox creditors take place in July, [this] creates a trajectory where crypto prices come under further pressure in July, but start rebounding from August onwards," the analysts wrote. Gox creditors opted for in-kind reimbursement has to do with the tax implications.

Persons: Kiyoshi Ota, Gregory Greene, Greene, Bitcoin, Greene's, John Glover, Ledn, Glover, Gox, Alex Thorn, They'll, Roger Ver, Blockstream, Adam Back, Greg Maxwell, Bruce Fenton, Thorn, there's, There's, Luke Nolan, CoinShares, JPMorgan Organizations: Bloomberg, Getty, Mt, CNBC, bitcoin, Online, Galaxy Digital, Bitcoin, Barclays, JPMorgan Chase, Gox Locations: Gox, Illinois, bitcoin, Mt

☆ Inside Rudy Giuliani's bankruptcy spending: $100 on pizza, $4 polyester ties, and 'deep bronze' tanning lotion
▼ + stars: | 2024-06-27 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +11 min

They also include quite a few Amazon purchases, including cheap ties and "deep bronze" tanning lotion. For the first time, Giuliani disclosed the financial details of Giuliani Communications, the company he owns that produces his video livestreams on social media. On a monthly basis, Giuliani Communications spends more money than it makes — even before the WABC cancellation. Earlier filings were compiled by Joseph Ricci, an accountant whose firm was paid $4,000 by Giuliani Communications in May. Ricci has since declined to work on the banruptcy, Giuliani's lawyers have said.

Persons: —, Rudy Giuliani, Giuliani, Maria Ryan, it's, Donald Trump, Tanner, Bice, Giuliani —, Wandrea Moss, Ruby Freeman, Jose Luis Magana It's, Giuliani's, Mike Lindell, John Catsimatidis, Ryan Organizations: Service, New, New York City, Business, Giuliani Communications, New York, eBay, Verizon, Citi, AP, Giuliani's, WABC, Republican Locations: New York, Arizona, New York City, Amazon, Manhattan, Palm Beach, Washington , DC, MyPillow, American

☆ Harbor Lab, a Greek startup trying to help ships manage port costs, just raised $16 million using this 10-slide pitch deck
▼ + stars: | 2024-05-15 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

Harbor Lab, which aims to help the shipping industry streamline port costs, has raised funding. Founded in 2020 in Athens, the startup has brought in a $16 million Series A led by Atomico. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHarbor Lab, a startup that aims to help the shipping industry reduce costs related to entering port, has raised $16 million in Series A funding.

Persons: Atomico, — Organizations: Service, Harbor Lab, Business Locations: Athens

☆ Fact check: Trump falsely claims that appeals court said ‘you won’ the civil fraud case he lost
▼ + stars: | 2024-04-04 | by ( Daniel Dale | ) edition.cnn.com time to read: +6 min

I won the case, because I won it in the Appellate Division. …I won the case because it’s called statute of limitations. The appeals court never said he won the case. The cutoff date would’ve been February 6, 2016, for any defendants Engoron decided weren’t covered by the agreement.) After Trump wrongly claimed to reporters, following the first day of the trial, that “about 80% of the case is over” because of the appeals court ruling, Engoron said in court the next day: “This case arrived at the App.

Persons: Donald Trump, “, ” Trump, Letitia James, Arthur Engoron’s, Trump, …, it’s, ‘, ’ He’s, He’s, he’s, Ivanka Trump, general’s, Engoron, that’s, Rather, ”, Alan Garten, ” James ’, ” Engoron Organizations: Washington CNN, New, Division, Trump, Trump Organization, SFC Locations: New York, Wisconsin, ”

☆ Trump has found a new way to attack judge's daughter in hush-money case despite gag order
▼ + stars: | 2024-04-02 | by ( Laura Italiano | ) www.businessinsider.com time to read: +4 min

An expanded hush-money gag bars attacks on the judge's daughter, a Democratic campaign consultant. On Tuesday, Trump found a way around the gag, attacking the daughter in a legal filing instead. AdvertisementDonald Trump has found a work-around for a newly-expanded gag order that bars him from attacking the Democratic campaign-consultant daughter of his hush-money judge: attacking the daughter through legal filings instead. Manhattan prosecutors did not immediately respond to the recusal request, but have called Trump's attacks on the judge's family members "dangerous" and "reprehensible." "This Court and the Advisory Committee on Judicial Ethics have already determined that such a claim provides no basis for recusal," prosecutors countered on Tuesday night.

Persons: Trump, Trump's, —, Donald Trump, Loren Merchan, Juan Merchan, Loren Merchan's, Joe Biden, Kamala Harris, Susan Necheles, Todd Blanche Organizations: Democratic, Service, Authentic Locations: Manhattan

☆ Former New York cop charged with swindling investors in foreign exchange trading fund
▼ + stars: | 2024-02-28 | by ( Dan Mangan | ) www.cnbc.com time to read: +6 min

Peace's office said that as Rodriguez, who was arrested Wednesday, lost an increasing amount of money in trading in foreign exchange, he used money from new investors to pay prior investors their promised investment returns. Ex-cop Jason Rodriguez, 37, is accused of falsely promising investors in his fund, Technical Trading Team, that there would be guardrails to protect the trading risks for their money. That included a vow to never put a maximum of 1% of investors' funds at risk at any given time, the indictment says. A former New York City police officer was indicted for conspiracy to commit wire fraud after he allegedly lied to investors and lost most of the $4.8 million they put into his foreign exchange -focused investment fund, prosecutors said Wednesday. The suit says the defendants lost more than $3 million in trading forex on a leveraged basis, and "misappropriated participant funds for personal use."

Persons: Peace, cryptocurrency, Rodriguez, Attorney Breon, Jason Rodriguez, Benjamin Yaster, Edwin Carrion, Carrion, Danielle Hass, TTT, Defendants Organizations: Attorney, Eastern, of, U.S . Justice, Washington , D.C, Brooklyn U.S, Trading, New York Police Department, NYPD, Attorney's, U.S, Futures Trading Commission, Commodity, CFTC, Investments, CNBC PRO Locations: of New York, Washington ,, New York City, Bellerose , Queens, U.S, Brooklyn, Florida, Colombia, TTT

The vast majority — nearly $40 million — went to law firms working on his personal legal problems. But significant portions of their donations went to law firms defending Trump in civil cases involving his real-estate empire and its top executives, including Donald Trump Jr., Eric Trump, and Ivanka Trump. Only about $861,000 was spent on law firms working exclusively on political issues. Where there were gaps, we contacted law firms and individual lawyers who received money from the PACs. In 2021 and 2022 combined, Trump spent $16 million on legal fees through the Save America PAC.

Persons: Donald Trump, Trump, —, MAGA, Trump's, Donald Trump Jr, Eric Trump, Ivanka Trump, Stormy Daniels, Jean Carroll, Robert, Clifford S, Michael Cohen, — Troutman Pepper Hamilton Sanders, Kellogg, Hansen, Todd, Figel, Frederick —, Madaio, Alina Habba, Michael Madaio, Hillary Clinton, James Comey, Mary Trump, general's, Carroll, Trump —, Joe Tacopina, Chad Seigel, Christopher Kise, Jesus M, Suarez, Eli Bartov, Bryan Woolston, Silverman Thompson Slutkin, White, Evan Corcoran, Todd Blanche, Cadwalader, Taft, Blanche, Attorney Alvin Bragg's, Daniels, Susan Necheles, John Lauro, who's, Steven H, Drew Findling, Jennifer Little, Jesse R, it's, Jim, John Rowley, Eduardo Munoz Alvarez, Allen Weisselberg, Weisselberg, perjured, ArentFox Schiff, Jeff McConney, Stanley Woodward, Stanley Brand, Carlos de Oliveira, John S, Irving of, Boris Epshteyn, Kenneth Chesebro, Troutman Pepper, Ivanka, Newsmax, Harmeet, Dhillon, Bradley T, Morvillo Abramowitz, David Pecker, Elkan Abramowitz, Greenberg Traurig, Ballard Spahr, Mintz, Levin, Cohn, Ferris, Corey Lewandowski, Robert Mueller's, Jones, Andrew Kelly, It's, Forbes, defaming Carroll, he's Organizations: Service, Trump, Save America PAC, Make, Trump Organization, Politico, Reuters, New, Associates, Democratic National Committee, The New York Times, Times, Continental LLP, Inc, AP, Attorney, Capitol, Law, Taft, Brand Woodward Law, Irving of Earth & Water Law, Ivanka Trump, Republican National Committee, Save, MAGA, Curve Solutions, National Enquirer, Republican, MAGA PAC, Bloomberg Locations: New York, Georgia, Carroll, Manhattan, Florida, York, Washington, DC, Wickersham, Attorney Alvin Bragg's Manhattan, Fulton County , Georgia, codefendants, MAGAworld, Robert Mueller's Russia

☆ Polish PM Says There Is No 'Plan B' on EU Aid for Ukraine
▼ + stars: | 2024-02-01 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Polish Prime Minister Donald Tusk said on Thursday there was no "Plan B" on European Union aid for Ukraine and Hungarian Prime Minister Viktor Orban who is stalling it must decide if Hungary is "part of our community". "We need to play hard and play fair, but there is no room for compromise. Orban is the only one of the 27 to have voiced disapproval of an EU aid package and to request a yearly vote on the long-term aid. Thursday summit's is seen as a last opportunity to reach agreement on a four-year plan for 50 billion euros ($53.93 billion) of economic aid for Ukraine, which has been fighting a Russian invasion since 2022. The Latest Photos From Ukraine View All 91 Images($1 = 0.9272 euros)(Reporting by Justyna Pawlak; Writing by Anna Wlodarczak-Semczuk; Editing by Ros Russell)

Persons: Donald Tusk, Viktor Orban, Tusk, Orban, Justyna Pawlak, Anna Wlodarczak, Ros Russell Organizations: Reuters, Polish, Union, EU Locations: Ukraine, Hungarian, Hungary, Russian, Moscow

☆ IMF, Egypt Agree on 'Main Policy Elements' of Economic Reform Programme
▼ + stars: | 2024-02-01 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +2 min

CAIRO (Reuters) - The International Monetary Fund said on Thursday it had agreed with Egypt on the key policy components of an economic reform programme, in a further sign that a final deal to augment the country's $3 billion loan is nearing completion. Ivanna Vladkova Hollar, the IMF mission chief for Egypt, said both sides had made "excellent progress" on the discussions of a comprehensive policy package that could kickstart long-delayed reviews of the country's economic reform programme. "To this end, the IMF team and the Egyptian authorities have agreed on the main policy elements of the program. The authorities expressed a strong commitment to act promptly on all critical aspects of Egypt's economic reform program," Hollar said in a statement. The Egyptian pound, fixed at 30.85 to the dollar since then, has been trading on the black market as low as 71 pounds.

Persons: Ivanna Vladkova Hollar, Hollar, Kristalina Georgieva, Hatem Maher, Jacqueline Wong, Leslie Adler Organizations: Monetary Fund, IMF Locations: CAIRO, Egypt, Israel, Gaza, Cairo

☆ EU Leaders Seek Deal to Fund Ukraine as Hungary Digs in Heels
▼ + stars: | 2024-01-31 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

The plan is to help cover Ukraine's 2024-2027 needs with 33 billion euros ($36 billion) in loans and 17 billion euros in grants. The money is to come from the EU budget to give Kyiv more predictable funding as it fights off Russia's invasion. The other 26 EU countries have rejected Hungary's demand, and they and Hungary have been in a stand-off since December. The EU cannot wait any longer because Ukraine is expected to run out of cash to run normal state functions in March. Orban's ambassador to the EU told his counterparts at a preparatory meeting on Wednesday that Budapest still wanted veto power.

Persons: Jan Strupczewski BRUSSELS, Viktor Orban, Orban, Jan Strupczewski, Tom Hogue Organizations: Union, Hungarian, EU, U.S . Congress, European, Budapest Locations: Ukraine, Kyiv, Hungary, Moscow, United States, EU

Energy Secretary Jennifer Granholm, Deputy Defense Secretary Kathleen Hicks and Brenda Mallory, chair of the White House Council on Environmental Quality, announced the projects Wednesday at the Pentagon. Because of the Pentagon's “relatively congested air space” outside Washington, solar panels were the best option for clean energy, he said. The building is a nationally registered historic landmark, so officials will work with local officials to ensure the panels meet all requirements. In addition to the Defense Department, projects also include installation of thermally efficient windows at the Energy Department headquarters in Washington, as well as efficiency upgrades to the Commerce and Transportation departments. The projects also include installation of solar panels at the U.S. Army Garrison in Wiesbaden, Germany, as well as energy and water efficiency improvements and solar panels at the Maui Air Traffic Control Tower in Kahului, Hawaii.

Persons: Biden, ”, Jennifer Granholm, Kathleen Hicks, Brenda Mallory, Brendan Owens, Owens, U.S . Army Garrison Organizations: WASHINGTON, The Defense Department, Pentagon, Energy Department, Energy, White, Council, Environmental, Naval, Defense Department, Commerce, Transportation, Interior, Veterans Affairs, General Services Administration, Personnel Management, Social Security Administration, National Oceanic, Atmospheric Administration, Energy Conservation Technologies, U.S . Army, Maui Air Traffic Control Locations: U.S, Germany, Washington, Georgia, Tennessee, Loa, Hawaii, Mauna, Wiesbaden, Kahului

☆ What the $150 billion climate change is costing the US looks like a year: Here’s
▼ + stars: | 2023-11-30 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

Compare that to 40 years ago, when extreme weather episodes that cost an inflation-adjusted $1 billion happened once every four months on average. As of November 8, there have been 25 weather and climate disasters with losses exceeding $1 billion, according to the National Oceanic and Atmospheric Administration. The National Climate Assessment report’s estimate of the total annual cost of climate change in the United States takes those factors into account. $150 billion at glanceIt may be hard to appreciate the value of $150 billion without anything to compare it to. The $150 billion annual cost of extreme weather in the damage to the US is:

Persons: Tatyana Deryugina Organizations: New, New York CNN, National Oceanic, Atmospheric Administration, National Centers for Environmental, NOAA, MIT’s Center, Real, Hurricanes, University of Illinois, CNN Locations: New York, United States, Hawaii, University of Illinois Urbana, Champaign

☆ These 16 states are already in a recession
▼ + stars: | 2023-11-29 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +3 min

Sixteen US states' economies contracted between July and October, according to the Philadelphia Fed. While some economists believe a recession may come in the next year, the economies of 33 states grew. Meanwhile, looking at just the past month, 27 states experienced economic contraction. AdvertisementThe economies of sixteen US states contracted between July and October, even as economists are still betting the US can avoid a recession. Looking at month-over-month rates, 27 states experienced economic contraction, while just 16 grew.

Persons: —, Nicholas Colas, Jessica Rabe, Ken Griffin Organizations: Philadelphia Fed, Service, Federal Reserve Bank of Philadelphia, National Bureau of Economic, Citadel, Bloomberg Locations: West Virginia, Wisconsin, Montana, Missouri , Illinois, Iowa, , Maryland, North Dakota, South Carolina, Texas, Nevada and Wyoming . California, Florida, California, Florida , Pennsylvania , Ohio, Georgia, North Carolina

The economy is likely already in recession and is expected to contract again next year. Shortly after being sworn in as economy minister, Massa in August 2022 pledged to stop printing money to fight inflation. "Markets will likely prefer a Milei victory simply because he is more credible on delivering the fiscal adjustment." "Every investor understands that the macroeconomic adjustments that Argentina needs will inevitably translate into short-term pain." For investors, Argentine stocks traded in New York (.MIAR00000PUS) have been a beacon of hope, up near 15% year to date.

Persons: Sergio Massa, Javier Milei, Luis Robayo, Pilar Tavella, Alejo Czerwonko, Massa, Carlos de Sousa, UBS's, JPMorgan's Diego Celedon, Celedon, Rodrigo Campos, Adam Jourdan, Lisa Shumaker Organizations: por la Patria, La Libertad, University of Buenos, Law School, Global, Peronist, Barclays, Reuters Graphics Reuters, Argentina, Monetary Fund, Itau, IMF, Emerging, UBS Global Wealth Management, Vontobel Asset Management, Argentine, UBS, Thomson Locations: Argentina, University of Buenos Aires, Buenos Aires Argentina, New York, Argentine, outperforming

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