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☆ The job market enters a new phase as the Great Resignation ends
▼ + stars: | 2023-06-13 | by ( Samantha Delouya | ) edition.cnn.com time to read: +5 min

Amid a tight labor market, many were also able to find a better job, with better pay. The combination of a tight labor market and structural change from the pandemic catalyzed job reshuffling over the past three years, he said. The BLS shows the rate of job growth is up in the construction, manufacturing, health, education and food services industries. Despite the apparent end of the Great Resignation, the job market continues to hum along; the US economy added 339,000 jobs in May. The fact that quit rates are down indicates that there’s low confidence in the job market,” Kriegel said.

Persons: ”, Nicholas Bloom, that’s, “, Bloom, Nick Bunker, Jessica Kriegel, ” Kriegel, Bunker, “ There’s, there’s, ” Bunker Organizations: Los Angeles CNN, Federal Reserve, Stanford University, Bureau of Labor Statistics bolsters, Labor, BLS, Federal Reserve Bank of, Conference Board, Bed, Stanford, Workers, Gallup, Bank of America, Georgetown University Locations: Federal Reserve Bank of Atlanta

WASHINGTON, June 13 (Reuters) - A key House Republican lawmaker said Tuesday that he intends to hold a committee vote on a comprehensive bill to establish a regulatory framework for cryptocurrency products in the coming weeks. Representative Patrick McHenry, chairman of the House Financial Services Committee, said he expects to put a bill forward for the panel to consider after lawmakers return to work on July 11. McHenry has been leading an effort by some Republicans in Congress to pass a bill establishing clear rules for the crypto industry. Democrats on the panel say they are considering the measure but have concerns. And in the Senate, which must also pass any crypto legislation, key lawmakers like Senators Sherrod Brown and Elizabeth Warren have expressed even more skepticism about crypto products.

Persons: Patrick McHenry, McHenry, Maxine Waters, Sherrod Brown, Elizabeth Warren, Pete Schroeder Organizations: Republican, Financial Services, Securities and Exchange Commission, Thomson

☆ Judge Delays Decision on Hong Kong’s Request to Ban Protest Song Online
▼ + stars: | 2023-06-12 | by ( Tiffany May | Chang Che | ) www.nytimes.com time to read: +1 min

The government filed a court petition last week arguing that “Glory to Hong Kong” was used to “insult” China’s national anthem. While not naming any defendants, the filing included 32 links to the song on YouTube. And in December, the Hong Kong authorities criticized Google for displaying the protest song under search results for Hong Kong’s national anthem. The impact of the case on how the tech companies operate in Hong Kong remains to be seen. Google and Meta established offices in Hong Kong over a decade ago, and today each has up to several hundred employees there.

Persons: Hong Kong ”, ”, Judge Wilson Chan, “, Kevin Yam, George Chen Organizations: Hong, Google, Georgetown University’s Center, Asian Law, Meta, Twitter, The Asia Group Locations: Hong Kong, Melbourne, Australia, Greater China, Washington

National security law experts were struck by the breadth of evidence in the indictment which includes documents, photos, text messages, audio and witness statements. They said this made a strong case for prosecutors’ allegation that Trump illegally took the documents and then tried to cover it up. Trump has proclaimed his innocence and called the case a “witch hunt” orchestrated by political enemies. Cato's Neily said that based on his reading of the indictment, prosecutors likely have many witnesses who have given them similar accounts of Trump's efforts. Legal experts disagree over whether Trump could pardon himself if he wins.

Persons: Donald Trump, Trump, ”, Elizabeth Goitein, Clark Neily, Mark MacDougall, Trump's, Jack Smith's, Brennan Center's Goitein, Cato's Neily, “, Todd Huntley, TRUMP, Jack Queen, Sarah N, Lynch, Amy Stevens, Cynthia Osterman Organizations: White House, FBI, Brennan Center for Justice, DOJ, Cato Institute, Prosecutors, Georgetown University, Trump, Washington , D.C, Thomson Locations: Florida, New York, Washington ,

☆ Reactions to charges against Donald Trump in classified documents case
▼ + stars: | 2023-06-10 | by ( ) www.reuters.com time to read: +4 min

[1/3] Former U.S. President and Republican presidential candidate Donald Trump gestures during a campaign event in Manchester, New Hampshire, U.S., April 27, 2023. REUTERS/Brian SnyderJune 9 (Reuters) - Court documents made public on Friday detailed 37 criminal counts against former U.S. President Donald Trump, including charges of unauthorized retention of classified documents and conspiracy to obstruct justice after he left the White House in 2021. *Senator John Barrasso, chairman of the Senate Republican Conference“This indictment certainly looks like an unequal application of justice. Hillary Clinton had a computer server in her house with classified documents. It feels political, and it’s rotten.”*Democratic Senator Debbie Stabenow"He stored highly classified documents in his bathroom!?

Persons: Donald Trump, Brian Snyder, Jack Smith, Kevin McCarthy, we're, Joe Biden, General Merrick Garland, Trump, Biden, I’m, Ron DeSantis, DeSantis, Hillary, Chris Christie, Donald Trump's, Sarah Matthews, Daniel Richman, John Barrasso, Biden’s, Hillary Clinton, Debbie Stabenow, Todd Huntley, Andy Briggs, Matt Bennett, Trump’s, Republican Representative Denver, —, Jonathan Oatis, Leslie Adler Organizations: U.S, Republican, REUTERS, White House, Fox News, Twitter, Trump, GOP, Republicans, Columbia Law School, Senate Republican Conference, Georgetown University, Republican U.S, Republican Representative, intel, Reuters, Thomson Locations: Manchester , New Hampshire, U.S, United States, Ron DeSantis , Florida, New Jersey, Delaware

☆ Cosmic Luck: NASA’s Apollo 11 Moon Quarantine Broke Down
▼ + stars: | 2023-06-09 | by ( Sarah Scoles | ) www.nytimes.com time to read: 1 min

When the astronauts of Apollo 11 went to the moon in July 1969, NASA was worried about their safety during the complex flight. The agency was also worried about what the spacefarers might bring back with them. For years before Apollo 11, officials had been concerned that the moon might harbor microorganisms. What if moon microbes survived the return trip and caused lunar fever on Earth? To manage the possibility, NASA planned to quarantine the people, instruments, samples and space vehicles that had come into contact with lunar material.

Persons: Dagomar Organizations: NASA, Georgetown University

☆ We're losing the battle against bird loss. Scientists estimate North America's bird population is down 3 billion and dropping fast in other countries worldwide.
▼ + stars: | 2023-06-06 | by ( Emily Sohn | Knowable Magazine | ) www.businessinsider.com time to read: +11 min

In North America, more than half of 529 bird species have declined, according to one study. Another study of 378 European bird species estimates numbers fell by as much as 19% from 1980-2017. There are birds on mountains, birds in cities, birds in deserts, birds in oceans, birds on farm fields and birds in parking lots. Bird numbers are falling across a broad range of habitats, as these graphs from Europe and North America show. A recovery program has boosted the species' numbers to more than 500, with several hundred living once more in the wild.

Persons: —, Peter Marra, It's, Alexander Lees, Lees, Christopher Michel, Marra, we're, Lees et, Philip McGowan, Glenn Simmons, McGowan Organizations: Service, Penguins, Earth Commons, Manchester Metropolitan University, Cornell, of Ornithology, National Audubon Society, Survey, US Geological Survey, Environment Canada, European Union, International Union for Conservation, Environment, Resources, Newcastle University, IUCN, California condor, Recovery Initiative Locations: North America, Antarctica, ptarmigan, Everest, Georgetown, England, Canada, United Kingdom, Gould Bay, eBird, United States, Science, Costa, India, Europe, California, Arizona, Brazil

☆ Crypto crackdown: Is there anywhere safe left for crypto investors in the US?
▼ + stars: | 2023-06-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

“Look, we don’t need more digital currency,” Gensler told CNBC on Tuesday. “We already have digital currency: It’s called the US dollar. Many crypto investors appear to be abandoning so-called “alt-coins” and sticking with the relatively more reliable OG virtual currency, wrote Ed Moya, a senior market analyst with Oanda. Bottom line: “The SEC looks like it is playing Whac-A-Mole with crypto exchanges,” Moya wrote. Because of that, crypto investors will have to decide whether they are confident that the offerings on various exchanges will remain available to trade.

Persons: CNN Business ’, Binance, ”, Matt Levine, I’ll, Coinbase, Brian Armstrong, Gary Gensler, ” Gensler, “, It’s, Crypto, TD Cowen, Reena Aggarwal, Aggarwal, bitcoin, Ed Moya, ” Moya, —, you’ll Organizations: CNN Business, New York CNN, Securities and Exchange Commission, SEC, CNBC, Georgetown, Psaros, Financial Markets, Chicago Mercantile Exchange, Oanda Locations: New York, United States, “, cryptos

June 5 (Reuters) - Cryptocurrencies and shares in crypto and blockchain-related companies tumbled on Monday after the U.S. securities regulator sued crypto exchange Binance, another blow to the industry. The SEC crackdown has prompted some crypto companies to increase compliance, spike products, and expand overseas, moves that some marketwatchers said would likely be accelerated by this latest action against the world's largest crypto exchange. In April, the SEC charged crypto exchange Bittrex Inc with operating an unregistered securities exchange, broker and clearing agency, and settled with Kraken in February for $30 million over the exchange's U.S. crypto staking service. Shares of Coinbase (COIN.O) were down 9.1% on the news of the SEC's charges against Binance. Both Coinbase and crypto exchange Gemini launched international exchanges for crypto derivatives in May.

Persons: Binance, Changpeng Zhao, Binance's cryptocurrency, Gary Gensler, marketwatchers, John Reed Stark, Kraken, Bittrex, James Angel, Gemini, Rajeev Bamra, Sinéad Carew, John McCrank, Manya Saini, Hannah Lang, Michelle Price, Leslie Adler, Lisa Shumaker Organizations: U.S . Securities, Exchange Commission, Reuters, SEC, Washington , D.C, Internet, Coinbase Global Inc, Georgetown University, Binance, Inc, Marathon, Mining, Moody’s Investors Service, Thomson Locations: Washington ,, U.S, New York, Bengaluru, Washington

☆ Opinion | ‘Doing the Work’ and the Obsession With Superficial Self-Improvement
▼ + stars: | 2023-06-03 | by ( Jessica Grose | ) www.nytimes.com time to read: +2 min

And when you notice something like this on social media, it’s a safe bet that there’s an aspect of performance at play: “Do the work” isn’t just about doing the work; it’s about being perceived as a person who does the work. The colleague wondered, “Why didn’t she just say she was sick?” That’s because until very recently, saying “I need a mental health day” wouldn’t have been understood as an acceptable motive for missing a class. But now, focusing on your mental health is more normative. Tannen agreed with Smith that when you’re talking about “doing the work” and tending to your burnout, there’s “a sense that this makes you a good person,” Tannen said. But when we talk about introspection and reflection as work, it cheapens the whole enterprise.

Persons: Mychal Denzel Smith, ” Smith, “, ”, Deborah Tannen, Smith, Wright Mills, Tannen, ” Tannen, it’s Organizations: Georgetown University, Wright

WASHINGTON, June 2 (Reuters) - The U.S. Securities and Exchange Commission announced Friday it had dismissed 42 pending enforcement cases after discovering enforcement staff had improper access to materials meant for commission officials ruling on those cases. The enforcement and in-house ruling arms of the SEC are supposed to be kept completely separate from each other regarding such matters. It added that in most cases, the problematic materials were not uploaded to enforcement staff until after a decision had been handed down. An internal SEC review found that there was no evidence that the improper access had any effect on decisions made by either enforcement staff or officials reviewing those cases, according to SEC officials. Nonetheless, the agency decided to dismiss all pending cases, primarily against individuals and smaller firms, who were impacted by the improper access.

Persons: Pete Schroeder, Chizu Nomiyama, Diane Craft Organizations: U.S . Securities, Exchange Commission, SEC, Thomson

☆ McCarthy’s Debt-Ceiling Deal Meets ‘Die Hard 2’
▼ + stars: | 2023-06-01 | by ( Daniel Henninger | ) www.wsj.com time to read: 1 min

Daniel Henninger's weekly column, “Wonder Land,” appears in The Wall Street Journal each Thursday. Mr. Henninger was a finalist for a Pulitzer Prize in editorial writing in 1987 and 1996, and shared in the Journal's Pulitzer Prize in 2002 for the paper's coverage of the attacks on September 11. In 2004, he won the Eric Breindel Journalism Award for his weekly column. He has won the Gerald Loeb Award for commentary, the Scripps Howard Foundation's Walker Stone Award for editorial writing and the American Society of Newspaper Editors' Distinguished Writing Award for editorial writing. He is a weekly panelist on the "Journal Editorial Report" on Fox News.

Persons: Daniel Henninger's, ”, Henninger, Eric Breindel, Gerald Loeb, Scripps Howard Foundation's Walker Organizations: Scripps, American Society of Newspaper, Fox News, Georgetown University’s School of Foreign Service Locations: Cleveland

☆ When the Neighbors Don’t Share Your Vision (and That Vision Involves ‘Transformers’ Statues)
▼ + stars: | 2023-06-01 | by ( Noreen Malone | ) www.nytimes.com time to read: +1 min

The thing about putting a pair of 10-foot statues of metal-hewn Transformers outside your townhouse in the most picturesque district of the nation’s capital is that the neighbors are going to have opinions. Plenty of people love the statues, which resemble invaders from the future, in a neighborhood that does its best to hang on to its cobblestone past. Students at nearby Georgetown University can’t get enough. Neither can tourists: The Transformers statues have their own entry on Google Maps as a place of interest, with 4.9 stars. “The best part of visiting Georgetown,” one reviewer declared.

Persons: —, Newton Howard, Georgetown University can’t, “, ” Organizations: Optimus, Georgetown University, Google Locations: Georgetown, Taiwan

☆ Former SEC chief Harvey Pitt passes away at 78
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

May 31 (Reuters) - Harvey Pitt, a former chairman of the U.S. Securities and Exchange Commission, passed away on Tuesday, according to a statement from the director of the SEC Historical Society shared with Reuters. At the time, fellow SEC Commissioner Roel Campos said: "There has certainly never been anyone who loved this agency more than Chairman Pitt." Pitt was a graduate of St. John's University School of Law and the City University of New York, according to the SEC's website. He passed away on Tuesday, according to the statement from Jane Cobb, executive director of the SEC Historical Society. "Over the years, Harvey has been extremely generous with his time and sage advice," said Michael Piwowar, a former SEC commissioner.

Persons: Harvey Pitt, Pitt, George W, Bush, Roel Campos, Jane Cobb, Harvey, Michael Piwowar, Chris Prentice, Douglas Gillison, Niket, Shinjini Ganguli, Paul Simao Organizations: U.S . Securities, Exchange Commission, SEC Historical Society, Reuters, SEC, FBI, Enron, San Francisco Chronicle, Oxley, St, John's University School of Law, City University of New, Georgetown University, University of Pennsylvania, Kalorama Partners, Thomson Locations: City University of New York, Washington, New York, Bengaluru

WASHINGTON, May 31 (Reuters) - U.S. banks saw total deposits decline by a record 2.5% in the first quarter of 2023, and industry-wide profits were relatively flat after taking into account the effects of two large bank failures, the Federal Deposit Insurance Corporation said Wednesday. The FDIC said the $472 billion in deposit outflows in the first quarter was the largest it had recorded since it began collecting such data in 1984. The decline was primarily from uninsured funds, as insured deposits actually rose $255.1 billion, or 2.5%, amid the failures of Silicon Valley Bank and Signature Bank. The decline in deposits was offset by increased wholesale funding, which rose 14.4% in the first quarter. The results showed banks shrinking the amount of unrealized losses on their books and maintaining strong capital ratios.

Persons: Martin Gruenberg, Gruenberg, Pete Schroeder, Sinead Carew, Nick Zieminski Organizations: Federal Deposit Insurance Corporation, FDIC, Valley Bank, Signature Bank, First Republic Bank, Comerica, Citizens, Thomson

☆ Gen Zers are skipping New York and LA and flocking to smaller cities with cheaper homes, great jobs, and lots to do
▼ + stars: | 2023-05-30 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +8 min

Alex Akmal and her partner, Alex, along Memorial Union Terrace on Lake Mendota. In the case of Gen Z, one move often begets another, according to one demographer. Gen Z bonds have been cemented even more because many young people are delaying marriage and having children, the center found. After her studies, she said she might move to Washington, D.C., an even larger Gen Z hangout with those offerings and more. Cities must evolve for the futureFor whatever reason they are coming to these cities, these Gen Zers are here to stay.

But as some argue, in its quest to avoid another taper tantrum, the Fed delayed that two-pronged tightening too long, which has partly contributed to the stickiness of inflation today. This lengthy buildup may have averted another taper tantrum, but tied the Fed's hands on raising rates even as inflation was roaring back. Markets thought this not only meant the Fed would soon "taper" its bond purchases, but also raise interest rates. The Fed and markets have learned their lessons from the taper tantrum. Maybe the taper tantrum illustrates that it wasn't as planned and consistent as it should have been," he said.

☆ What Christian Nationalism Has Done to Wyoming Is a Sin - The New York Times
▼ + stars: | 2023-05-21 | by ( Susan Stubson | ) www.nytimes.com time to read: +2 min

What followed was an uncomfortable master class in racism and xenophobia as the man decanted the reasons our country is going down the tubes. I now understand the ugliness I heard was part of a current of Christian nationalism fomenting beneath the surface. And in large part, it’s my faith community, white, rural and conservative, that got them there. As my faith grew, so did Tim’s political career in the Wyoming Legislature (he served in the House from 2008 to 2017). Christian nationalists have hijacked both my Republican Party and my faith community by blurring the lines between church and government and in the process rebranding our state’s identity.

☆ US cities with military bases risk economic damage in debt ceiling fight
▼ + stars: | 2023-05-20 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —The United States could default on its debt in less than two weeks, and cities with a large military presence risk an economic firestorm if lawmakers don’t act. About a sixth of government spending goes toward national defense, a quarter of which is to pay military personnel, according to the Congressional Budget Office. If the United States can’t pay its national defense bills, cities with large military bases face a potentially massive fallout, encompassing missed payments, rising debt and a significant pullback in spending that would cut into local businesses’ bottom lines. That could further damage local economies grappling with financial market turbulence that could unfold even ahead of a possible default. Federal workers could get stuck pulling from their savings accounts or relying on credit to make everyday purchases, Mayo said.

☆ A 26-year-old developer whose firm owns 40 acres of land in Richmond explains why he's betting on the capital of Virginia — and why he would personally invest in real estate there
▼ + stars: | 2023-05-19 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

Meanwhile, "the DC market was considerably faster-moving, especially the condominium market." So I developed single-family homes on those myself and it turned out pretty successful." Thakker bought land in Richmond in 2020 and developed three, single-family homes, including the one pictured, on the lot. Across their three major projects in Richmond, Dorado has acquired 40 acres of land, which is equivalent to over 40 football fields. The interior of one of the single-family homes Thakker built and sold in Richmond.

Senator Elizabeth Warren is questioning federal bank regulators on their decision to sell First Republic Bank to the nation's largest bank, JP Morgan Chase. In a letter sent to the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation Wednesday, Warren said the deal was "deeply troubling," and sought details on how the agencies decided to arrange that particular sale, allowing JPM to grow even larger. This is a troubling outcome, leaving me with numerous questions," she wrote. The FDIC announced this month it had seized First Republic and sold it to JPM in a deal that it estimated would cost its deposit insurance fund $13 billion. Warren also pressed the matter with Michael Hsu, the acting Comptroller of the Currency, at a hearing Thursday.

☆ Analysis: Qatar takes diplomatic back seat as Saudi flexes political muscle
▼ + stars: | 2023-05-18 | by ( Andrew Mills | ) www.reuters.com time to read: +6 min

Qatar has been steadily mending ties with Saudi Arabia, Egypt, the United Arab Emirates and Bahrain. Qatar cast the Syrian National Coalition as a government-in-exile, handing them Syria's Arab League seat and opening the Doha mission in a villa nearby other embassies. Several Gulf states including Qatar, Saudi Arabia and the United Arab Emirates began backing rebel groups fighting to oust Assad from power. As Syria's anti-Assad movement lost ground, "Saudi Arabia and the UAE shifted their policy most dramatically but Qatar has not," Kamrava said. Qatar initially opposed efforts this spring by Saudi Arabia to galvanise support to readmit Syria to the Arab League following its 2011 suspension.

☆ Activist firms call on Dollar General, Dollar Tree to improve worker safety, wages
▼ + stars: | 2023-05-16 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Two activist investment firms are calling on Dollar General and Dollar Tree shareholders to approve a pair of resolutions aiming to improve worker safety and wages, the firms said Tuesday. Dollar General Proposal 7, led by Domini Impact Investments, calls for an independent audit into worker safety and well-being. "It's far too dangerous in the stores that we work in," David Williams, a Dollar General stocker, said during a panel event Tuesday. Federal regulators have repeatedly found similar violations at Dollar General stores across the country, prompting OSHA to label it a "severe violator" of workplace safety rules. Considering the $37.84 billion in sales Dollar General posted in fiscal 2022, the penalties are unlikely to have a major impact on its balance sheet.

☆ The No. 1 reason Gen Z workers are leaving their dream jobs behind—and what they're seeking instead
▼ + stars: | 2023-05-16 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Gina Fahrenholz, 22, left her childhood dream job of criminal justice to become a nurse once she realized she would be more financially stable. After advising thousands of college students on their career paths, Christine Cruzvergara "doesn't truly believe in only having one dream job." Rather, Cruzvergara, the chief education strategy officer at early-career job platform Handshake, says, "The reality is your dreams can change." The 2023 definition of a dream jobFarenholz is not alone in her decision to abandon her childhood dream job in favor of stability. Instead, Cruzvergara says, students are looking at brands "that have stood the test of time" like Raytheon, Capital One and Nike.

WASHINGTON, May 15 (Reuters) - Top U.S. banking regulators plan to tell lawmakers the government will be open to future bank mergers, but are committed to establishing tougher rules after recent turmoil. Barr maintained his commitment to overhauling bank rules to ensure firms do not escape stricter oversight because they are smaller or viewed as less risky. "The prudential regulation and supervision of these institutions merits additional attention, particularly with respect to capital, liquidity, and interest rate risk," he said in prepared testimony. While vowing to draft tougher rules, the agencies have also been criticized for not identifying and preventing weaknesses before the lenders failed. In prepared testimony, he said rapid interest rate increases and social media-fueled rumors drove the "unprecedented" bank run that sank his firm.

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