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☆ Manchin accuses the Biden administration of appeasing 'radical activists' on climate and pledges to block Interior Department nominee
▼ + stars: | 2023-03-10 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +3 min

Democratic Sen. Joe Manchin says he will block one of President Biden's nominees and potentially others. Manchin says he'll judge nominees on whether they're "political partisans first or Americans first." He's taking issue with the administration's framing of a law he supported as an effort to address climate change. Manchin, of West Virginia, wrote in an op-ed in the Houston Chronicle, noting that energy leaders are gathered in the city for an annual conference. Biden has touted the bill's $370 billion devoted to tackling climate change as the most significant investment the US has made to fight climate change.

☆ Biden's budget proposal calls for boosting climate resilience funding
▼ + stars: | 2023-03-09 | by ( Emma Newburger | ) www.cnbc.com time to read: +3 min

President Joe Biden's budget proposal for 2024 includes billions of dollars spread across federal agencies to combat climate change, with a bulk of investment going towards boosting disaster resilience and conservation, cutting pollution and advancing clean energy technologies. Among the most ambitious of Biden's funding requests is the roughly $24 billion to help build communities' resilience to climate-related disasters including floods, wildfires, storms, extreme heat and drought. The proposal also comes as the White House continues to implement provisions of the Inflation Reduction Act, the largest climate bill ever passed by Congress. The spending is spread across agencies tasked with combatting climate change, advancing climate resilience and bolstering clean energy technologies. The White House proposes $16.5 billion to support climate science and clean energy innovation, with more than $5.1 billion to fund research on climate adaptation and resilience across agencies like NASA and the Interior Department.

☆ Venice Biennale to honour British musician Brian Eno
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

ROME, March 8 (Reuters) - Brian Eno, the renowned British musician and visual artist who has worked with Talking Heads, U2 and David Bowie, will receive the Golden Lion for lifetime achievement from the Venice Biennale 2023, the organiser said on Wednesday. Eno, 74, who describes himself as a 'non-musician', came to prominence in the early 1970s as a founding member of the band Roxy Music. He is best known for his contributions to ambient music and work in rock, pop and electronica. The music department of the Venice Biennale decided to honour Eno "for his research into the quality, beauty and diffusion of digital sound and for his conception of the acoustic space as a compositional instrument," the statement said. Eno will be given the award at a ceremony on Oct.22 as part of Biennale Musica 2023 in Venice.

☆ China plans to revamp finance, tech oversight
▼ + stars: | 2023-03-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Lintao Zhang | Getty Images News | Getty ImagesBEIJING — China plans to overhaul its financial regulatory system by consolidating aspects of the central bank and securities regulator under a new entity, while doing away with the existing banking regulator. The moves also come as Beijing has increased regulation on parts of the economy that had developed quickly, with little oversight. The latest plan calls for the establishment of a National Financial Regulatory Administration, which replaces the China Banking and Insurance Regulatory Commission and expands its role. watch nowThe China Securities Regulatory Commission's investor protection responsibilities are set to shift to the new financial regulator. "China's consolidated financial regulatory body is [a] paradigm shift to ramp up oversight of its vast financial system," said Winston Ma, adjunct professor of law at New York University.

☆ Antigua and Barbuda is preparing to auction off an 'abandoned' $81 million superyacht linked to a Russian oligarch, reports say
▼ + stars: | 2023-03-08 | by ( Marielle Descalsota | Kate Duffy | ) www.businessinsider.com time to read: +2 min

An $81 million superyacht linked to a Russian oligarch is reportedly set to be auctioned off. The 81.2-meter Alfa Nero has been linked to Russian chemicals magnate Andrey Guryev. An Antigua and Barbuda government minister reportedly said the "abandoned" yacht risks becoming a "hazard." The 81.2-meter Alfa Nero was built by Oceanco and can accommodate 12 guests in six staterooms and 28 crew, according to Boat International. The Treasury department said in August that the Alfa Nero was a "blocked property" of Guryev's, and that he reportedly bought the yacht for $120 million in 2014.

☆ Raiffeisen Bank's Russian branch halts opening of new corporate accounts
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, March 3 (Reuters) - The Russian branch of Austrian lender Raiffeisen Bank International <RBIV.VI. said on Friday that it was temporarily suspending the opening of accounts for new corporate clients and restricting the opening of new foreign currency for existing corporate clients. In a statement to Reuters, the bank's press service said: "The bank faced a large number of new applications for opening accounts and, in the face of increased requirements, including for checks and currency payments from correspondent banks, decided to concentrate on servicing the existing volume of transactions". The U.S. Department of the Treasury Sanctions Enforcement Office launched an investigation earlier this year against Raiffeisen Bank International in connection with the bank's activities in Russia. Reporting by Reuters; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ The Treasury just gave the strongest indication yet that the US will get a digital dollar, but an expert says proliferation of CBDCs poses risks to the dollar.
▼ + stars: | 2023-03-02 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

The US Treasury just made its strongest indication that a central bank digital currency is on the table. A US digital dollar, Liang said, would be legal tender and users could convert it one-for-one with other forms of central bank assets, like paper money or reserves. Redbord also believes the US must carefully evaluate the space, given that China is embarking on a similar digital currency program that's aimed at competing with the dollar. In her Wednesday speech, Liang differentiated between wholesale and retail digital dollars. The upside for a retail CBDC, meanwhile, comes from access, rather than technology, but could also destabilize private sector lending during times of duress, she added.

☆ U.S. Air Force flags plans to buy 26 E-7 planes from Boeing
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

Feb 28 (Reuters) - The U.S. Air Force plans to buy 26 Boeing Co (BA.N) E-7A airborne early warning and control (AEW&C) planes to replace its ageing fleet of E-3s, the Department of the Air Force said on Tuesday, as it announced a contract worth up to $1.2 billion. Boeing said it would develop two new variants of the E-7 for the U.S. Air Force, without providing details of the differences. The Air Force said the first plane was expected to be in service by fiscal year 2027 and it anticipated purchasing an additional 24 by fiscal 2032. "The E-7A will be the Department's principal airborne sensor for detecting, identifying, tracking and reporting all airborne activity to Joint Force Commanders," said Andrew Hunter, assistant secretary of the Air Force for Acquisition, Technology and Logistics. Other E-7 operators include the Royal Australian Air Force, Republic of Korea Air Force, Turkish Air Force and the United Kingdom's Royal Air Force.

☆ I'm a pastor living in rural Arkansas, and I make up to $3,000 a week with my side hustle using ChatGPT to make pitch decks for startups
▼ + stars: | 2023-02-26 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

He uses AI tools like ChatGPT and Tome to make pitch decks for businesses on the side. Now, I'm relying on AI tools like the new chatbot, ChatGPT, and the storytelling tool, Tome, for my creative work. AI tools have cut my turnaround time in halfLarry Lundstrom and his wife, Myra, in front of their home in Arkansas. Larry LundstromAfter years of designing everything from websites to college football logos, my creative work is now limited to freelancing. Before the dawn of AI tools it would probably take me a week — a full 40 hours — to put together a pitch deck from start to finish.

☆ Ukraine War Is Ron DeSantis’s Security Test
▼ + stars: | 2023-02-24 | by ( Kimberley A. Strassel | ) www.wsj.com time to read: +1 min

Kimberley Strassel is a member of the editorial board for The Wall Street Journal. She writes editorials, as well as the weekly Potomac Watch political column, from her base in Alaska. Ms. Strassel joined Dow Jones & Co. in 1994, working in the news department of The Wall Street Journal Europe in Brussels, and then in London. She moved to New York in 1999 and soon thereafter joined the Journal's editorial page, working as a features editor, and then as an editorial writer. An Oregon native, Ms. Strassel earned a bachelor's degree in Public Policy and International Affairs from Princeton University.

☆ Philippines, U.S. discuss joint coast guard patrols in South China Sea
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +2 min

MANILA, Feb 20 (Reuters) - The Philippines and the United States are discussing conducting joint coast guard patrols, including in the South China Sea, a Manila official said on Monday. Jay Tarriela, the Philippine Coast Guard's (PCG) spokesperson on South China Sea issues, told CNN Philippines that talks with the United States have advanced beyond the infancy stage and the likelihood of carrying out joint patrols is high. "There is also a possibility that it will be conducted in the South China Sea in support of the freedom of navigation of the United States government," he said. The Chinese Embassy in Manila did not immediately respond to a request for comment on the joint patrols. Philippine President Ferdinand Marcos Jr last week summoned China's ambassador to relay his concern over the frequency and intensity of China's actions in the South China Sea.

☆ Meta allowed a Kremlin-linked oligarch to run Facebook ads calling for uprisings against pro-Western government in Moldova
▼ + stars: | 2023-02-17 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +4 min

Meta allowed a Moldovan oligarch, sanctioned by the US, to run paid Facebook ads, per AP. Meta removed the ads, but only after they reached an audience of millions. The paid Facebook ads featured oligarch Ilan Shor, who now lives in Israel after being convicted of massive financial fraud. In one ad, Shor, who heads the pro-Russia Shor Party, can be heard accusing Sandu's government of corruption. Moldova was rocked by mass protests late last year, which were organized by the Shor Party, the largest of which took place shortly after the ads were placed.

☆ Biden Takes Aim at DeSantis
▼ + stars: | 2023-02-10 | by ( Kimberley A. Strassel | ) www.wsj.com time to read: +1 min

☆ Biden to revisit 'billionaire minimum tax' in State of the Union address
▼ + stars: | 2023-02-07 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Win Mcnamee | Getty ImagesPresident Joe Biden will again call for a "billionaire minimum tax" during his State of the Union address on Tuesday. However, Biden's original billionaire minimum tax didn't gain traction in Congress and it's even less likely to happen with a Republican-controlled House now, experts say. I view this billionaire minimum income tax as a messaging bill to highlight some of the problems with our tax code. "I don't see a lot of support for Biden's billionaire minimum tax on the Hill," Rosenthal said. Problems with the billionaire minimum taxEven with more support, Biden's billionaire minimum tax may face other hurdles, experts say.

☆ IRS about 3 to 5 times more likely to audit Black Americans' tax returns, study finds
▼ + stars: | 2023-02-02 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Jeffrey Coolidge | Photodisc | Getty ImagesBlack Americans are roughly three to five times more likely to face an IRS audit than other taxpayers, according to a new study. Specifically, the study examines audits of filers claiming the earned income tax credit, a tax break for low to moderate earners. The findings show Black filers claiming the earned income tax credit were more likely to be audited than non-Black filers claiming the same credit. Evelyn Smith Study co-authorSmith said the IRS has focused on specific mistakes with claiming the earned income tax credit, such as missing dependents or misreporting income, which are required for eligibility. "Focusing on these individual-level issues rather than the total dollar amount of underreporting seems to be driving these differences," she said, noting a shift to self-employed earned income tax credit filers would help address the problem.

☆ Ukraine security forces smash prostitution ring run by migration officials
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

Feb 1 (Reuters) - Ukraine's SBU security service said on Wednesday it had broken up a prostitution ring run by immigration officials, part of a drive to crush corrupt practices and meet Western standards on eliminating graft. The SBU said the ring had been headed by officials of the Migration Department of the national police, normally responsible for safeguarding the interests of displaced people. "These senior officials oversaw a broad 'protection' scheme for prostitution in Kyiv and in other regions," the SBU statement said. In a nightly video address, President Volodymyr Zelenskiy thanked the security services for their "quick reaction to these shameful developments". Russia's invasion prompted more than 7 million people to leave Ukraine, according to U.N. figures, though nearly half subsequently returned home.

☆ One of the biggest problems for plant-based products — people don't know where to find them at the grocery store
▼ + stars: | 2023-01-30 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Where plant-based meat sits in a grocery store can affect sales. Sales of plant-based meat grew quickly during the early months of the pandemic. But that growth slowed down in 2022, leading some analysts to question the long-term potential of plant-based foods. Earlier this month, Bloomberg Businessweek published a cover story declaring plant-based meat was "just another fad." In response, Impossible took out a full-page ad in the New York Times that decried media coverage "hating on plant-based meat."

☆ A Chinese invasion of Taiwan is a real and dangerous possibility that could wreck armies and ruin the global economy worse than the 1929 stock market crash
▼ + stars: | 2023-01-29 | by ( Jacob Zinkula | Jake Epstein | ) www.businessinsider.com time to read: +11 min

Experts say the military and economic impacts for could be catastrophic, and not just for China and Taiwan. Whether it's 2030, 2027, 2025, or even this year, experts say it could wreak havoc on the global economy and take a devastating toll on the militaries involved. CFOTO/Future Publishing via Getty ImagesThough China's actions have stirred fears of a possible Chinese attack, the US military assesses that an invasion of Taiwan would prove extremely difficult for the Chinese military. Threats to one company could spell catastropheLooking at this situation from an economic perspective, a Chinese invasion of Taiwan could mean trillions of dollars in losses and a serious global recession. Others have argued it's in the self interest of both China and the United State to overplay the likelihood of a Taiwan invasion.

☆ The Campaign to Ban Gas Stoves
▼ + stars: | 2023-01-27 | by ( Kimberley A. Strassel | ) www.wsj.com time to read: +1 min

Here are some key moments in the months ahead:FEB. 1The Treasury Department will release a quarterly document next week laying out how it plans to fund the government over the next three months. The document, which includes information on debt the Treasury will issue, could shed light on the timing of a possible default. Data regarding government income could be an important factor in determining the so-called "X date," or the day when the government will stop paying its bills. Normally, these funds would be reinvested, but the Treasury Department has said it could use the proceeds to help make needed payments. JULY-OCTOBERMost analysts see the true X date occurring somewhere between July and October.

☆ Electric car-makers have found a legal loophole to get their customers an extra $7,500 tax credit
▼ + stars: | 2023-01-25 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

The commercial EV credit comes with way fewer requirements that are far less difficult to achieve — and it could be a clever workaround for the passenger vehicle space. Finding a workaroundThe commercial credit was designed to incentivize commercial fleets to electrify. Lucid vehicles don't qualify for the new EV credit given they are priced at higher than the MSRP cap requirements. If an EV is eligible for the new tax credit through a vehicle purchase, it cannot take the credit if leased. If an EV is only eligible for the commercial tax credit through a lease, it cannot take a credit if purchased.

PDVSA has found reserves of 4.2 trillion cubic feet (TCF) in the Dragon field, on the Venezuelan side of its maritime border with Trinidad. Even with Washington's granting of Trinidad's request, it could take years of investment and development to bring Venezuelan gas to Trinidad and boost LNG to Europe, experts say. In addition, with no payments authorized to Venezuela, it could be difficult for Trinidad to craft a deal with Caracas. "At the request of the Government of Trinidad and Tobago, the United States Department of the Treasury issued a specific license to enable Trinidad and Tobago to develop the Dragon gas field," the senior administration official said. The Chevron license is meant to reopen some oil flows that were shut by U.S. sanctions nearly four years ago.

☆ Unusual blood cancer cases among US troops who manned nuclear missile silos at a base in Montana are raising new questions for the military
▼ + stars: | 2023-01-23 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

US military officers who worked at a nuclear missile base have developed cancer in recent years. An Air Force spokesperson told Insider that leadership is "aware of the concerns." "Senior leaders are aware of the concerns raised about the possible association of cancer related to missile combat crew members at Malmstrom AFB," Rose Riley, an Air Force spokesperson, told Insider. "The information in the briefing has been shared with the Department of the Air Force Surgeon General and our medical professionals are working to gather data and understand more." A spokesperson at Malmstrom Air Force Base confirmed to Insider that the base is aware of the situation but had no further information on the matter.

☆ The Justice Department’s Double Standards on Classified Documents
▼ + stars: | 2023-01-20 | by ( Kimberley A. Strassel | ) www.wsj.com time to read: +1 min

☆ U.S. to announce international cryptocurrency action -statement
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Jan 18 (Reuters) - The U.S. Justice Department will "announce a major, international cryptocurrency enforcement action" on Wednesday, it said in a statement, adding the U.S. Treasury Department will also make an announcement. "The U.S. Department of the Treasury will also announce an action in this space," the statement said. U.S. officials, including Deputy U.S. Attorney General Lisa Monaco and Deputy U.S. Treasury Secretary Wally Adeyemo, will deliver remarks at 12 p.m. (1700 GMT) in Washington, according to the statement. Other officials will include the associate deputy director of the FBI and the U.S. attorney for the Eastern District of New York. Reporting by Daphne Psaledakis and Susan Heavey, editing by Paul Grant and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

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