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☆ The Supreme Court Will Finally Decide What ‘Income’ Means
▼ + stars: | 2023-12-05 | by ( Hank Adler | Lacy Willis | ) www.wsj.com time to read: 1 min

Wonder Land: Citing the president’s age lets Democrats off the hook for the political failure of his economic policies. Images: AP/AFP/EPA/Getty Images Composite: Mark KellyThe Supreme Court hears oral arguments Tuesday in the most important tax case in decades. Moore v. U.S. will answer the question of whether Congress can tax unrealized capital gains as if they were income under the 16th Amendment. The case has attracted a flood of friend-of-the-court briefs, mostly cheering for the tax collectors. Many argue outright that there is no requirement for profit to be realized—which usually means selling an asset at a profit—for a taxpayer to be hit with an income tax as the Constitution means it.

Persons: Mark Kelly, Moore Organizations: AFP, EPA Locations: .

☆ Life insurers binge on US financing aimed at helping housing
▼ + stars: | 2023-12-05 | by ( Koh Gui Qing | ) www.reuters.com time to read: +8 min

It has been predominantly used by life insurers, because they need to boost their investment returns with cheap funding to meet long-term liabilities. They provide the cheap funding to banks and insurers in exchange for collateral to ensure they get their money back. Insurers are entitled to tap FHLB funding. Insurers’ borrowing from FHLBs picked up in 2008 financial crisis, as those that spread themselves thin with aggressive investments scrambled for cash. They did not explain why insurers need FHLB funding to invest in mortgages.

Persons: Sarah Silbiger, Ryan Donovan, CMBS, Lawrence White, White, Graphics JUICING, Cynthia Beaulieu, Cornelius Hurley, Hurley, FHLBs, ’, Michael Ericson, Jack Dolan, Koh Qui, Greg Roumeliotis, Anna Driver Organizations: REUTERS, Loan, Federal Housing Finance Agency, of Federal Home Loan, FHLBs, FHLB, National Association of Insurance, New York University, MetLife Inc, Equitable Holdings Inc, Corebridge, Brighthouse Financial, MetLife, TIAA, Equitable, Graphics, Wellington Management, Boston University School of Law, Coalition, Silicon Valley Bank, First, American, of, Insurance Coalition, Reuters, Thomson Locations: Washington , U.S, U.S, Boston, Silicon, First Republic, Chicago, New York

☆ Barclays shares slip after major backer Qatar cuts stake
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

Qatar Investment Authority, the state sovereign wealth fund which owns Qatar Holding, did not respond to a request for comment. The share sale comes as Barclays embarks on a shake-up to cut costs and revive its share price, which has halved since Qatar first invested in 2008. Barclays' stock fell as much as 4.5% in early trading and was last down 2.5% at 1007 GMT. Qatar became Barclays' largest shareholder during the 2008 financial crisis when it injected 4 billion pounds into the UK bank in a deal that helped avert a taxpayer bailout. Britain's financial watchdog later fined Barclays $55 million for fees paid to Qatari entities in the 2008 fundraising, which Barclays said it would appeal.

Persons: Venkatakrishnan, Vekatakrishnan, Iain Withers, Sinead Cruise, Pablo Mayo Cerqueiro, Lawrence White, Danilo Masoni, Andrew Mills, Kirsten Donovan, Emelia Organizations: Barclays, Qatar, Reuters, Qatar Investment Authority, Qatar Holding, Thomson Locations: Qatar, Germany, London, Milan, Doha

☆ Bond yields will come down from their fever pitch in 2024. How to prepare your portfolio
▼ + stars: | 2023-12-05 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

Expect to work a little harder for those fixed income returns in the new year. As a result, it may be time to start unwinding those big cash positions and adopt a longer-term mentality for fixed income investments. A runup in bond yields is accompanied by a decline in prices, and the two move inversely to one another. The sector "remains well positioned to maintain its high credit quality, driven by solid state credit quality and strong state financial support, despite soft enrollment trends," analyst Kathleen McNamara wrote last week. Consider dollar cost averaging into those longer-dated positions, incrementally building up exposure to intermediate duration bonds.

Persons: Jerome Powell, it's, Kathy Jones, Shannon Saccocia, Jones, Nicholos Venditti, Kathleen McNamara, Schwab's Jones, Barry McAlinden, Michael Bloom Organizations: Schwab Center, Financial Research, Bond, SEC, Muni Bond ETF, Allspring Global Investments, UBS

☆ Ukraine’s US lifeline is hanging by a thinning thread
▼ + stars: | 2023-12-05 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

In a grave blow to its prospects, Ukraine aid has now been embroiled by Republicans in a separate imbroglio over immigration. While Ukraine’s survival is at stake, so is the reputation of the United States as a global leader. Johnson may struggle to retain his tenuous hold on his job if he uses Democratic votes to pass a Ukraine funding package. The Ukraine aid package is now caught in the most intractable US political issue — immigration. “We are at a moment in history.”But a group of Republican senators who normally back Ukraine aid signaled Monday they couldn’t move forward without immigration changes attached to the measure.

Persons: Vladimir Putin’s, Joe Biden, Israel —, “, Jake Sullivan, Vladimir, ”, Sullivan’s, Shalanda Young, Mike Johnson, United States Oksana Markarova, CNN’s Wolf, Volodymyr Zelensky, Lloyd Austin, Zelensky, Donald Trump, Putin, Trump –, Republican Sen, Jim Risch of, “ Vladimir Putin, …, he’s, outlasting, ” Risch, Ben Hodges, ” Hodges, Johnson, Biden, Chuck Schumer, Texas Sen, John Cornyn Organizations: CNN, White, of Management, GOP, Wing, Kremlin, Trump, Republican, Intelligence and Foreign Relations, Halifax International Security, US Army, of, Republicans, Democratic, New York Democrat, Texas, Ukraine, US Defense Department, Internal Revenue Service, – Locations: Israel, Ukraine, Russian, U.S, United States, Russia, Moscow, North Korea, Iran, Kyiv, Washington, China, Jim Risch of Idaho, Canada, Ret, — Washington, Berlin, Paris, London, of America, Europe, Crimea, Ukrainian, Mexico, Taiwan

U.S. Supreme Court Associate Justice Samuel A. Alito Jr. poses during a group portrait at the Supreme Court in Washington, U.S., October 7, 2022. Such a ruling also could frustrate policies favored by some Democrats, including Senator Elizabeth Warren, for a tax on the net worth - meaning all assets and not just income - of the super-rich. Alito defended the court in articles in the Wall Street Journal's opinion section. The Moores sued the U.S. government in 2019 challenging the mandatory repatriation tax. Circuit Court of Appeals threw out the case, noting that under Supreme Court precedent the "realization of income is not a constitutional requirement."

Persons: Samuel A, Alito Jr, Evelyn Hockstein, Samuel Alito, Charles, Kathleen Moore, Donald Trump, Moores, Elizabeth Warren, Alito, Alito's recusal, David Rivkin Jr, Andrew Chung, Will Dunham Organizations: Supreme, REUTERS, Rights, U.S, Competitive Enterprise Institute, Democratic, Moores, Street, Circuit, Thomson Locations: Washington , U.S, Redmond , Washington, Republican, Constitution's, Bangalore, India, San Francisco

☆ DeSantis board accuses Disney of controlling previous one with gifts
▼ + stars: | 2023-12-04 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +5 min

It found the board was "inverted to serve Disney," which held voting control of the prior board of supervisors. The Central Florida Oversight Board will meet Wednesday to vote whether to accept the report, which was prepared for the board by a group of experts. In what Disney described as retaliation, the Florida legislature in February replaced the old board with a new Central Florida Oversight District, whose five supervisors are handpicked by DeSantis. In April, Disney sued Florida in federal court, claiming DeSantis and his allies of "weaponizing" state government to punish Disney for exercising its free speech rights. The DeSantis-appointed oversight board counter-sued in state court, seeking to void the "backroom deals" favorable to the entertainment giant.

Persons: Octavio Jones, Ron DeSantis, Walt Disney's, Disney, DeSantis, flagrantly, John Classe, Dawn Chmielewski, Ken Li, Lisa Shumaker Organizations: Walt Disney, REUTERS, Walt, Disney, DeSantis, Central, Central Florida Tourism, Florida Oversight, Reuters, American Express, Florida, Thomson Locations: Orlando , Florida, U.S, Florida, Reedy, Central Florida, New York

A view shows signage on a branch of Barclays Bank in London, Britain, March 17, 2023. REUTERS/Peter Nicholls/File Photo Acquire Licensing RightsDec 4 (Reuters) - Qatar Holding is looking to sell around 510 million pounds ($643.72 million) of shares in Barclays (BARC.L), one of the banks acting on the deal said on Monday, cutting back on its crisis-era investment in the British bank. The deal is set to price at 141 pence per share, or a discount of about 1.4% to Barclays' closing share price on Monday. The share sale comes as Barclays is striving to revive its share price, which has halved since Qatar first invested in 2008. Qatar has previously cashed in on warrants acquired through the capital injection.

Persons: Peter Nicholls, Pablo Mayo, Juby Babu, Anil D'Silva, Jane Merriman, Josie Kao Organizations: Barclays Bank, REUTERS, Barclays, Qatar, Venkatakrishnan, Reuters, Pablo Mayo Cerqueiro, Thomson Locations: London, Britain, Qatar, British, Germany, Bengaluru

☆ Swiss bank Banque Pictet admits hiding $5.6 billion of Americans’ money from IRS
▼ + stars: | 2023-12-04 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Banque Pictet, the private banking division of the 218-year-old Pictet Group, will pay about $122.9 million in restitution and penalties as part of an agreement with prosecutors. As part of the deal, the bank also agreed to cooperate with ongoing investigations into hidden bank accounts. The Pictet Group said in a statement that the deal follows its "extensive cooperation with the US authorities, in full compliance with Swiss law." The Pictet Group helped clients evade U.S. taxes by opening, maintaining and concealing undeclared accounts for them, prosecutors charged. The Pictet Group maintained about 529 offshore entities for the U.S. accounts in question during the relevant timeframe.

Persons: Damian Williams Organizations: Internal Revenue Service, Department of Justice, Banque Pictet, DOJ, Justice Department, Attorney, Southern, of, Pictet, Swiss, U.S Locations: Swiss, U.S, of New York, United States

☆ Large Farmers Received Millions in Insurance Subsidies, Report Says
▼ + stars: | 2023-12-04 | by ( Madeleine Ngo | ) www.nytimes.com time to read: +1 min

The federal government provided millions of dollars in subsidies to large farmers to pay for much of the cost of their crop insurance policies last year, according to a Government Accountability Office report set to be released on Monday. The federal crop insurance program is intended to encourage farmers to protect their crops against natural disasters, extreme weather and other destructive events by purchasing private insurance that is heavily subsidized with taxpayer dollars. Under the program, farmers can buy insurance policies to help cover financial losses from crop price declines and poor yields resulting from natural disasters. The cost of the federal crop insurance program ballooned last year, reaching $17.3 billion in 2022, according to Agriculture Department data. In 2021, the program cost the federal government roughly $9.4 billion, according to Agriculture Department data.

Organizations: Agriculture Department

☆ Chicago homeless migrants shelter faces backlash
▼ + stars: | 2023-12-01 | by ( Eric Cox | ) www.reuters.com time to read: +3 min

[1/5] Migrants, without a place to stay upon arrival in the city, seek safe shelter inside the District 12 station of the Chicago Police Department in Chicago, Illinois, U.S. May 17, 2023. REUTERS/Eric Cox/File Photo Acquire Licensing RightsCHICAGO, Dec 1 (Reuters) - Chicago is grappling with local backlash against moving homeless migrants into a new government-run tent encampment as temperatures drop and more migrants continue to arrive. Hundreds of migrants are still sleeping on floors or in tents outside city police stations. Community members in Brighton Park are suing the city to try to stop construction, saying it violates Chicago zoning laws. "In May, Mayor Johnson welcomed migrants to Chicago, saying the city has 'enough room' for them," Eze said in a statement.

Persons: Eric Cox, Ricardo Palacios, Chicago Mayor Brandon Johnson, Johnson, Greg Abbott's, Abbott, Renae Eze, Mayor Johnson, Eze, Ted Hesson, Mary Milliken, Sandra Maler Organizations: Chicago Police Department, REUTERS, Rights, Chicago, O'Hare International, Chicago Mayor, Democrat, Republican, Texas, Democratic, Thomson Locations: Chicago , Illinois, U.S, Chicago, Chicago's Brighton Park, Illinois, Brighton Park, Texas, Mexico, Venezuela, Chicago , New York, Los Angeles, Washington

CHARLESTON, W.Va. (AP) — A West Virginia coalition that helps support a network of anti-abortion pregnancy centers in the state is receiving $1 million in taxpayer dollars to distribute to organizations committed to encouraging people not to end their pregnancies. The West Virginia Pregnancy Center Coalition has been selected to manage the new West Virginia Mothers and Babies Support Program, the state department of health and human resources announced this week. Jim Justice earlier this year, officials said the program is intended to help support pregnant women and families following the passage of the state's near-total abortion ban in September 2022. As the West Virginia program's management agency, the West Virginia Pregnancy Center Coalition will be required by law to establish qualification requirements for organizations to receive funding, advertise the program and contract with organizations for services. The West Virginia Pregnancy Center Coalition will need to establish reporting requirements and an auditing procedure.

Persons: Jim Justice, Jenny Entsminger, ”, Matthew Christiansen Organizations: West Virginia, Virginia Pregnancy Center Coalition, GOP, Republican Gov, Pregnancy Center Coalition, Democratic, West Locations: CHARLESTON, W.Va, Virginia, West Virginia

☆ Four Lucrative Tax Deductions That Seniors Often Overlook
▼ + stars: | 2023-11-30 | by ( Lori Ioannou | ) www.wsj.com time to read: 1 min

Many older Americans are missing out on valuable tax breaks offered by the IRS, leaving behind savings that could make a difference for their financial well-being. “The reason this is happening is because the tax code is complicated, and rules on tax exemptions are constantly changing,” says Tom O’Saben , director of tax content and government relations at the National Association of Tax Professionals in Washington, D.C. “This makes it hard for the average taxpayer to know about the array of tax breaks available to them.”

Persons: ”, Tom O’Saben Organizations: IRS, National Association of Tax, Washington , D.C Locations: Washington ,

☆ 4 Lucrative Tax Deductions That Seniors Often Overlook
▼ + stars: | 2023-11-30 | by ( Lori Ioannou | ) www.wsj.com time to read: 1 min

Persons: ”, Tom O’Saben Organizations: IRS, National Association of Tax, Washington , D.C Locations: Washington ,

☆ Fact Check: Video of teacher discussing pronouns is a skit
▼ + stars: | 2023-11-30 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

A clip showing a teacher called Darren discussing pronouns is a skit, according to a disclaimer by the video’s creators at the end of the original video. The clip shows a teacher discussing their pronouns while the students appear to be confused and asking questions. !” and “My children would not participate in this.”The original video is more than 7 minutes long and includes a disclaimer at the 7:18 mark where the creator, known as Jibrizy, says, “Hey guys. Should teachers be teaching students pronouns in public schools? The video of a teacher discussing pronouns is a skit.

Persons: Darren, “, Read Organizations: Reuters, Thomson

SAN JUAN, Puerto Rico (AP) — A group of residents have sued a public utility company in the U.S. Virgin Islands after authorities there reported finding high levels of lead and copper in the tap water on St. Croix. He said the agency acted swiftly and transparently after the test results became available and that officials are still working to improve water quality in St. Croix. “What people are looking for is justice.”The investigation into the state of tap water in St. Croix began in late September, following complaints of reddish-brown water on the island of more than 50,600 people. In late October, the local government announced that officials found high levels of lead and copper and warned people not to drink their tap water. She also criticized the government for announcing a couple of weeks ago that lead levels were low or undetectable at samples taken from various schools across St. Croix.

Persons: Andrew Smith, ”, Lee J, Rohn, St . Croix, Joe Biden, “, they’re, WAPA Organizations: JUAN, U.S . Virgin, territory’s, Power Authority, Seas Water Corporation, Water Corporation, U.S . Virgin Islands, The Associated Press, U.S . Environmental Protection Agency, Rohn, U.S . Centers for Disease Control Locations: Puerto Rico, U.S, U.S . Virgin Islands, St . Croix, Florida, St .

☆ US kicks off a spate of oil and gas auctions just as COP28 gets underway
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

The remaining acreage, in New Mexico, Oklahoma, Nevada, North Dakota and Utah, will be sold on Nov. 30, Dec. 5 and Dec. 12. The UN's "Conference of the Parties" on climate, known as COP 28, will begin on Thursday and will take place over the same two weeks. Dozens of nations plan to push for the world's first deal to phase out carbon dioxide-emitting coal, oil and gas at the meeting. "Instead of doing the necessary work to fight climate change, Biden continues to support the expansion of fossil fuels here in the U.S.," Nicole Ghio, senior fossil fuels program manager for Friends of the Earth, said in a statement. Biden's Inflation Reduction Act (IRA), a climate change law passed last year, made oil and gas auctions a prerequisite for renewable energy development.

Persons: Rick Wilking, Biden, Joe Biden, Nicole Ghio, Trump, Nichola Groom, Aurora Ellis Organizations: REUTERS, drillers, United Nations, Interior Department's, Interior Department's U.S . Bureau of Land Management, Department, Thomson Locations: Ft . Laramie , Wyoming, Wyoming, Dubai, Interior, Interior Department's U.S, New Mexico , Oklahoma , Nevada , North Dakota, Utah, U.S

☆ Why Congress gave $174,000 to Dianne Feinstein's wealthy daughter as part of a recent bill to avert a government shutdown
▼ + stars: | 2023-11-28 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

It's a tradition known as a "death gratuity" that's been in place for at least 140 years. They were also handing over $174,000 to Katherine Feinstein, the daughter of the late Sen. Dianne Feinstein. But Katherine Feinstein, a former judge in San Francisco and the only child of the recently-deceased California Democrat, almost certainly does not need that money. AdvertisementIn 2021, NTUF calculated that gratuity payments have cost taxpayers more than $5.1 million since 2000. AdvertisementBusiness Insider reached out to Katherine Feinstein via her lawyers but did not receive a response.

Persons: Dianne Feinstein's, It's, that's, —, Katherine Feinstein, Sen, Dianne Feinstein, Joe Biden, Katherine Anne Feinstein, Katherine —, National Taxpayers Union Foundation —, Alfred Lay, Republican Sen, John McCain of, Democratic Sen, Ted Kennedy of Massachusetts, Richard Shelby, Feinstein, Frank Lautenberg, Bill Posey, Posey Organizations: Service, Treasury, State of, California Democrat, National Taxpayers Union Foundation, Rep, Missouri Democrat, Republican, Democratic, ABC News Locations: State, State of California, San Francisco, California, —, Missouri, John McCain of Arizona, New Jersey, Florida

☆ US holds first of several oil and gas auctions as COP28 gets underway
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +3 min

BLM will also offer acreage in New Mexico, Oklahoma, Nevada, North Dakota and Utah on Nov. 30, Dec. 5 and Dec. 12. Dozens of nations plan to push for the world's first deal to phase out carbon dioxide-emitting coal, oil and gas at the meeting. "Instead of doing the necessary work to fight climate change, Biden continues to support the expansion of fossil fuels here in the U.S.," Nicole Ghio, senior fossil fuels program manager for Friends of the Earth, said in a statement. Biden's Inflation Reduction Act (IRA), a climate change law passed last year, made oil and gas auctions a prerequisite for renewable energy development. Reporting by Nichola Groom; Editing by Aurora Ellis and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Rick Wilking, Biden, Joe Biden, Nicole Ghio, Trump, Nichola Groom, Aurora Ellis, Stephen Coates Organizations: REUTERS, United Nations, Interior Department's, Interior Department's U.S . Bureau of Land Management, Department, Thomson Locations: Ft . Laramie , Wyoming, Wyoming, Dubai, Interior, Interior Department's U.S, Converse County, New Mexico , Oklahoma , Nevada , North Dakota, Utah, U.S

Homeless people and their advocates say the sweeps are cruel and a waste of taxpayer money. The AP submitted data requests to 30 U.S. cities regarding encampment sweeps and received at least partial responses from about half. “Unfortunately, it’s becoming a way of life, and that is 100% incorrect.”For homeless people, sweeps can be traumatizing. But never an end solution.”There are many reasons why someone might reject shelter, say homeless people and their advocates. We’re walking around saying, ‘What do you need?’”In Portland, the encampment dismantled in July was cleared again, in September and November.

Persons: Will Taylor, ”, Taylor, he's, …, ” Angelique Risby, it’s, Gavin Newsom, Newsom, David Sjoberg, ” David Ehler Jr, Crews, Sara Angel, “, Masood Samereie, ” Samereie, Roxanne Simonson, Sam Dodge, Dodge, Michael Johnson, aren't, Charise Haley, “ There’s, pare, Francis Zamora, Zamora, Brad Lander, ” Lander, Eric Adams, Charles Lutvak, Lutvak, Danielle Werder, Kieran Hartnett, who's, ____ Har, Casey, Thomas Peipert, Angeliki Kastanis, Christopher Weber Organizations: Contractors, U.S, The Associated Press, American Civil Liberties Union, Democratic, Republican, Supreme, ACLU, Northern, Politico, AP, San, Police, Public Works, Department of Emergency Management, Democratic New York City Locations: PORTLAND, Portland, West Coast, Los Angeles, New York, U.S, Phoenix, Las Vegas, Minneapolis, Miami, Albuquerque, Anchorage, Boulder , Colorado, California, San Francisco, Northern California, Denver, Connecticut, Colorado, “, New York City, Hennepin County, Boston

☆ US Funding for Ukraine Arms Has Poured Into Pennsylvania, Arizona and Texas
▼ + stars: | 2023-11-28 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +3 min

In Texas, 18 of the 25 Republican U.S. representatives have voted against Ukraine aid. In Arizona, three of six Republican representatives voted against aid while $2.196 billion poured into the state. The conservative Defending Democracy Together group's "Republicans for Ukraine" campaign has been tracking Republican rhetoric and voting patterns on Ukraine aid legislation. It gave "poor" or "very poor" grades to two of Wisconsin's six Republican representatives, to one of Arkansas' four Republican representatives and to three of Pennsylvania's eight Republican representatives. Yet Johnson voted against Ukraine aid repeatedly before he became speaker last month.

Persons: Mike Stone WASHINGTON, Biden, Joe Biden, Volodymyr Zelenskiy's, Mike Johnson, Johnson, Mike Stone, Chris Sanders, Matthew Lewis Organizations: Capitol Hill, Kyiv, Keystone State, Reuters, Republican U.S, Patriot, Raytheon, Texas ., Capitol, Republicans, Democrats, Ukraine, Companies, Biden, group's Locations: Ukraine, Pennsylvania, In Texas, Texas, Arizona, Israel, U.S, Ohio, Texas . Pennsylvania, Congress, Arizona , Pennsylvania, Arkansas, Wisconsin, Washington

☆ US funding for Ukraine arms has poured into Pennsylvania, Arizona and Texas
▼ + stars: | 2023-11-28 | by ( Mike Stone | ) www.reuters.com time to read: +4 min

Persons: Joe Biden, Evelyn Hockstein, Biden, Volodymyr Zelenskiy's, Mike Johnson, Johnson, Mike Stone, Chris Sanders, Matthew Lewis Organizations: White, REUTERS, Rights, Capitol Hill, Kyiv, Keystone State, Reuters, Republican U.S, Patriot, Raytheon, Texas ., Capitol, Republicans, Democrats, Ukraine, Companies, Biden, group's, Thomson Locations: Ukraine, Washington , U.S, Pennsylvania, In Texas, Texas, Arizona, Israel, U.S, Ohio, Texas . Pennsylvania, Congress, Arizona , Pennsylvania, Arkansas, Wisconsin, Washington

☆ Paris mayor quits X platform, calling it a 'gigantic global sewer'
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

Paris' Mayor Anne Hidalgo attends the 105th session of the Congress of Mayors organised by the "France's Mayors' Association" (AMF), in Paris, France, November 21, 2023. REUTERS/Sarah Meyssonnier/File Photo Acquire Licensing RightsPARIS, Nov 27 (Reuters) - Paris Mayor Anne Hidalgo on Monday announced she was quitting the X platform formerly known as Twitter, calling it a "gigantic global sewer" that was "destroying our democracies" by spreading abuse and misinformation. After buying Twitter in 2022, Elon Musk laid off thousands of employees, including many who moderated content on the platform. "This medium has become a gigantic global sewer, and we should continue to wade into it?" X users and opposition politicians took to the #TahitiGate hashtag to lambast her over the partially taxpayer-funded trip.

Persons: Mayor Anne Hidalgo, Sarah Meyssonnier, Paris Mayor Anne Hidalgo, Elon Musk, Hidalgo, Michel Rose, Bernadette Baum Organizations: Mayor, Mayors, Association, REUTERS, Rights, Paris Mayor, Monday, Twitter, White, Socialist, Thomson Locations: Paris, France, Tahiti

☆ Turn to this high-quality income play for the new year, Wells Fargo Investment Institute says
▼ + stars: | 2023-11-23 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Investors who hope to generate portfolio income while recession fears ramp higher can seek some safety in municipal bonds. Wells Fargo Investment Institute recently issued its fixed income guidance for 2024, forecasting "higher for longer" rates across the yield curve as the Federal Reserve remains vigilant to bring down inflation. Municipal bonds offer a combination of characteristics that appeal to investors: General obligation bonds are backed by the revenue of the municipality issuing them. "Going into a slowdown, you anticipate rates to fall," said Brian Rehling, head of global fixed income strategy at Wells Fargo Investment Institute. The top marginal income tax rate is 13.3% in California and well over 10% in New York and New Jersey.

Persons: Brian Rehling, Jennifer Johnston, Franklin Templeton, Johnston Organizations: Wells, Wells Fargo Investment Institute, Federal Reserve, Fargo Investment Institute, AAA, Muni Bond ETF, Vanguard, Bond, Fed, New York Life Investments, Investors, York State, Metropolitan Transportation Authority Locations: Wells Fargo, Fargo, New, California, New York, New Jersey, York

☆ Nissan to make electric versions of Qashqai, Juke in Britain -Sky News
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: 1 min

[1/2] A badge is seen on the new Juke car at Nissan's car plant in Sunderland Britain, October 10, 2019. REUTERS/Phil Noble/ File Photo Acquire Licensing RightsCompanies Nissan Motor Co Ltd FollowLONDON, Nov 22 (Reuters) - Japanese carmaker Nissan Motor Co (7201.T) will announce on Friday that it will build the electric versions of its Qashqai and Juke models at its plant in Sunderland, northern England, Sky News reported on Wednesday. Citing automotive industry sources, Sky reported Nissan would commit hundreds of millions of pounds to the project. While no upfront taxpayer money will be involved, the British government is expected to provide guarantees, the report added. Nissan representatives could not immediately be reached for comment.

Persons: Phil Noble, Kylie MacLellan, Nick Carey Organizations: REUTERS, Nissan Motor, Nissan, Sky News, Thomson Locations: Sunderland Britain, Sunderland, England

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