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☆ A Democratic Governor in Mississippi? He Thinks It’s Possible.
▼ + stars: | 2023-11-06 | by ( Rick Rojas | More About Rick Rojas | ) www.nytimes.com time to read: +1 min

Yet Mr. Presley has gained decent momentum — and with it, the attention of Democrats outside Mississippi. He has raised more than $11 million since January, far outpacing Mr. Reeves, and has used the money to flood television and radio stations with campaign advertisements. In the race for governor four years ago, Jim Hood, then the state attorney general and the last Democrat elected to statewide office, was seen as the most viable candidate the party had fielded in Mississippi in more than a decade. Yet he lost to Mr. Reeves by about five percentage points. Still, Mr. Presley sensed an opening.

Persons: Presley, Reeves, Jim Hood Organizations: Mississippi, Southern Democrats, Democratic, Democrat Locations: Southern, Mississippi

☆ Gen Z is forcing a workplace reckoning that should have happened years ago
▼ + stars: | 2023-11-05 | by ( Tim Paradis | ) www.businessinsider.com time to read: +7 min

Gen Z, on the heels of the pandemic, is pushing for changes to how we work. Workers across generations are benefitting from some of the questions Gen Z has been asking. AdvertisementAdvertisementThanks, Gen Z. Gen Zers aren't likely to get everything they're asking for — at least not right away. And even workplace jargon — that code for showing you belong because you know how to toss it around — is getting a Gen Z rewrite .

Persons: Gen Z, —, Zers aren't, Pradeep Philip, Philip, That's, Nicole Kyle, Zers, Brynn Anderson, who've, Alex Soojung, Kim Pang, Pang, we've, Read, Zer, Gen Organizations: Workers, Service, Deloitte, Economics, CMP Research, United Auto Workers, Detroit, UPS, Associated Press, UAW, didn't Locations: America

TAIPEI, Taiwan (AP) — Chinese Premier Li Qiang on Sunday pledged to continue deepening reforms, expand free trade zones and relax market access for foreign investment while seeking to generate excitement around a largely lackluster economy. China's economy expanded at a 4.9% annual pace between July-September, beating analysts’ forecasts of about 4.5%, official data show. The expo being held through Friday is an annual event launched by President Xi Jinping in 2018 with the theme of promoting China’s image as being in favor of free trade. This year’s expo brought Australian Prime Minister Anthony Albanese, currently paying an official visit to China which is largely focused on restoring trade links blocked for years due to economic and political tensions. Despite that, Li said China would continue to “actively pursue the accession to the CPTPP and the Digital Economy Partnership Agreement and negotiate for the conclusion of more high standard free trade agreements.”

Persons: Li Qiang, Li, Xi Jinping, ” Li, Anthony Albanese, Albanese, ” Albanese, Yang Hengjun, “ Organizations: 6th China, Sunday, Trans, Pacific Partnership, Digital Locations: TAIPEI, Taiwan, Shanghai, China, Beijing, Australia, Australian

RICHMOND, Va. (AP) — In a closing message to voters in this year's closely watched Virginia legislative elections, Republican Gov. Virginia is one of four states — the others are Louisiana, Mississippi and New Jersey — with legislative elections this year. The legislative candidates are running this year under maps redrawn during the last redistricting. He said he was “cautiously confident” about the possibility of a GOP trifecta — both legislative chambers as well as the governorship. Biden, who has not announced any plans to campaign in Virginia before Tuesday, recently sent a fundraising email on behalf of Virginia candidates and issued nearly two dozen endorsements.

Persons: Glenn Youngkin, Youngkin, “, we'll, ” Youngkin, Youngkin's, Virginia's, It's, Roe, Wade, there's, ” Sen, Monty Mason, Danny Diggs, Democrat Joe Biden, Diggs, Virginia doesn't, —, “ We're, ” Kay James, Rich Anderson, “ MAGA, “ MAGA Republicans ”, Donald Trump's “, Biden, ”, Heather Williams Organizations: Republican Gov, Republican, Democratic, Virginians, General Assembly, Supreme, Youngkin's PAC, GOP, Democrat, Republican Party of Virginia, Democrats, U.S . House, “ MAGA Republicans, Biden's, Republicans, Democratic Legislative Locations: RICHMOND, Va, Virginia, Louisiana , Mississippi, New Jersey, Southern, U.S, Richmond, Tidewater, Washington, Yorktown, Commonwealth

☆ Yellen supports 'significant' capital increase for IDB's private sector arm
▼ + stars: | 2023-11-03 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

Yellen, who hosted a breakfast for leaders from the Americas Partnership for Economic Prosperity before a White House summit, said Treasury strongly supported efforts by IDB President Ilan Goldfajn to reform the regional development bank's private sector arm, IDB Invest, and backed a capital increase for it. "My team at Treasury is working closely with President (Ilan) Goldfajn and IDB Group shareholders to define the policy reforms and financial scenarios that would enable a significant capital increase for IDB Invest," she said. Yellen told an IDB conference on Thursday that additional capital would help increase IDB Invest's impact and ability to better mobilize private capital to the region, as APEP partners work to shift supply chains away from China and expand "nearshoring" options closer to home. Yellen also said on Thursday that the "originate-to-share" approach adopted by IDB Invest CEO James Scriven was pioneering a new way for multilateral development banks (MDBs) to leverage private sector capital, an innovation being closely watched by others. The move by IDB follows efforts by China to increase its influence in Latin America, through increased direct lending to Latin American governments and boosting trade ties to resource-rich South American countries.

Persons: Janet Yellen, Ilan Goldfajn, Ilan, Goldfajn, Yellen, James Scriven, Andrea Shalal, Christina Fincher, Paul Simao Organizations: . Treasury, Inter, American Development Bank, Americas, Economic Prosperity, Treasury, IDB Invest, IDB Group, IDB, Thomson Locations: United States, America, Caribbean, Washington, U.S, Latin America, China, Mexico

WASHINGTON (AP) — President Joe Biden is gathering leaders from countries across the Americas on Friday in the U.S. capital to discuss the tightening of supply chains and addressing migration issues. Kirby said the summit would also involve the “shared migration challenge” and the building of “meaningful economic opportunity” among the countries in the region. Political Cartoons View All 1233 ImagesBy contrast, the U.S. imported $562.9 billion worth of goods and services from China last year. Treasury Secretary Janet Yellen outlined the Biden administration's goals in a Thursday speech at the Inter-American Development Bank. The Inter-American Development Bank, which is the biggest multilateral lender to Latin America, would support new projects through grants, lending and new programs.

Persons: Joe Biden, John Kirby, Kirby, Biden, Janet Yellen, Yellen Organizations: WASHINGTON, Economic Prosperity, ’, White, National Security, Western, U.S . Trade, Biden, Inter, American Development Bank, The Locations: Americas, U.S, Los Angeles, United States, China, Canada, Mexico, The U.S, America, Caribbean, South America

☆ This city never slept. Now with China tightening its grip, is the party over?
▼ + stars: | 2023-11-03 | by ( Chris Lau | ) edition.cnn.com time to read: +16 min

China’s message at the time was that even if change was coming to Hong Kong, its spirit of “anything goes” would be staying put. People gather outside a restaurant on a near-empty street in the Soho area of Hong Kong. Officials say they were “fluorescent.”A Hong Kong government spokesman told CNN this week that the activities were “well-received by local residents and tourists”. Under Hong Kong’s pandemic restrictions, live music was all but banned in small venues for more than 650 days. Months before the virus emerged, China had been tightening its grip on Hong Kong in response to pro-democracy protests that had spread throughout the city.

Persons: Hong Kong, Boy George, Grace Jones, Pete Tong, Paul Oakenfold, China’s, Deng Xiaoping, China –, Deng, Deng’s, –, Noemi Cassanelli, Hong, John Lee, “, ”, Gary Ng, Covid, Benson Wong, Wong, Lan Kwai Fong, Cassanelli, Hong Kongers, Kongers, Ng, Yan Wai, ” Yan, hasn’t, Billy H.C, Kwok, Richard Feldman, Feldman, Becky Lam, ” Lam, “ They’ll, ” Feldman, Kwai Fong, Marco Chan, Chan, ” Allan Zeman, Allan Zeman, Lan, CNN “ They’ll, they’ll, Lam, Hong Kong’s Organizations: Hong Kong CNN, East, West, Britain, Occupy Central, National Security, Michelin, CNN, Hong, Tai Hang, National, Hong Kong Wine, HKSAR, Immigration Department, Chinese University of Hong, Soho Association, Netflix, “, Lan Kwai Fong Group, Hong Kong, Shady Locations: China, Hong Kong, Asia, Hong, Soho, Japan, Singapore, Tai, Thailand, Lan Kwai, expats, Britain, Canada, Australia, Natixis, Chinese University of Hong Kong, Lan, revelers, California, Central, Shenzhen, Hong Kong’s Central, Bangkok, Shanghai, Taipei, Petticoat

☆ Bank of England leaves interest rates at 15-year high, says policy to stay tight for 'extended period'
▼ + stars: | 2023-11-02 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

LONDON — The Bank of England on Thursday left interest rates unchanged, but said monetary policy will likely need to stay tight for an "extended period of time." The Monetary Policy Committee voted 6-3 in favor of keeping the main Bank rate at 5.25%, with three members preferring another 25-basis point hike to 5.5%. "The MPC's latest projections indicate that monetary policy is likely to need to be restrictive for an extended period of time. Further tightening in monetary policy would be required if there were evidence of more persistent inflationary pressures," the MPC said in its Thursday statement. It added that monetary policy will need to be "sufficiently restrictive for sufficiently long" to return inflation to the 2% target sustainably.

Persons: Jeremy Hunt, Jerome Powell Organizations: Bank of England, LONDON, Bank, MPC, U.S . Federal Reserve, Federal, Treasury, Bank of Locations: British, Europe

☆ An ideal scenario for the stock market is taking shape as the economy looks set to keep growing without lifting inflation
▼ + stars: | 2023-11-02 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The economy can still grow without driving inflation, and that would be an ideal scenario for the stock market. AdvertisementAdvertisementThe latest economic data suggests a type of Goldilocks scenario is about to play out in both the economy and stock market. AdvertisementAdvertisement"We think the economy started a productivity growth boom in early 2016 that was interrupted by the pandemic. This year, our growth is being driven by productivity... productivity driven growth brings inflation down, it's good for earnings, but it does drive yields up. For evidence of a surge in productivity growth, he pointed to the fact that job hirings have slowed this year compared to last year, but GDP growth has surged.

Persons: Ed Yardeni, —, Yardeni, Wharton, Jeremy Siegel, Siegel Organizations: Service

WASHINGTON (AP) — Treasury Secretary Janet Yellen wants Latin America to trade more with the United States as part of an initiative that so far has failed to disrupt China’s dominance in global manufacturing. The Inter-American Development Bank, which is the biggest multilateral lender to Latin America, would support new projects through grants, lending and new programs. But if you’re not involved, this opens the door for anybody” to invest in Latin America. Latin America will be a region of increased focus in the next year, as Brazil takes the presidency of the Group of 20 international forum. A Treasury official told the AP that Yellen will be traveling frequently to South America and Latin America over the next year, due to Brazil's G-20 presidency.

Persons: Janet Yellen, Yellen, ” Yellen, Ilan Goldfajn, you’re, ” Organizations: WASHINGTON, —, Inter, American Development Bank, Partnership, Economic Prosperity, ’, White, “, Boston University Global Development, El, Associated Press, Treasury Department, Treasury, AP Locations: America, United States, U.S, Caribbean, Peru, Chile, Ecuador, Uruguay, Dominican Republic, Costa Rica, China, South America, American, Honduras, Taiwan, El Salvador, Nicaragua, Panama, Brazil, Latin America

☆ Yellen: Indo-Pacific allies should not have to choose between US, China
▼ + stars: | 2023-11-02 | by ( David Lawder | ) www.reuters.com time to read: +5 min

Janet Yellen, United States Secretary of Treasury, participates in global infrastructure and investment forum in New York, Thursday, Sept. 21, 2023. Yellen said the U.S. instead was pursuing the "de-risking and diversifying" of its economic ties to China, by investing in manufacturing at home and by strengthening linkages with allies and partners around the world, including Indo-Pacific countries. TRADE, INVESTMENT LINKSYellen said the Biden administration was committed to expanding trade and investment with Indo-Pacific countries, emphasizing the region's strategic importance ahead of the APEC gathering. The Indo-Pacific is a dynamic and rapidly growing region. "And achieving resilience through partnering with Indo-Pacific countries means gains for Indo-Pacific economies as well," Yellen said.

Persons: Janet Yellen, Seth Wenig, Yellen, White, Joe Biden, Xi Jinping, Biden, Donald Trump, David Lawder, Diane Craft Organizations: Treasury, Rights, . Treasury, Asia Pacific Economic Cooperation, Asia Society, APEC, Prosperity, Thomson Locations: United States, New York, U.S, China, San Francisco, IPEF, Vietnam

WASHINGTON (AP) — Before House Speaker Mike Johnson was elected to public office, he was the dean of a small Baptist law school that didn't exist. “The law school deal was really an anomaly. As dean of the proposed law school, Johnson embarked on a major fundraising campaign and described a big-dollar event in Houston with former Arkansas Gov. Bobby Jindal and Pressler, according to an account Johnson wrote in a 2011 alumni magazine. Meanwhile, the historic former federal courthouse in Shreveport that was selected as the law school’s campus required at least $20 million in renovations.

Persons: Mike Johnson, Johnson, Kevin McCarthy, It's, “, ”, Gene Mills, Johnson's, ” J, Michael Johnson, Southern Baptist Convention luminary, Tony Perkins, Jerry Falwell, “ I’m, Joe Aguillard, Mike Huckabee, Bobby Jindal, Aguillard, “ Mike, Gilbert Little, ” Johnson, Perkins, Little, Barack, Kelly, Kelly Johnson, Louis “ Woody ” Jenkins, Jenkins, Democrat Mary Landrieu, Moon Griffin, Eugene Mills, Mills, ” Mills, Johnson’s, George W, Bush’s, it’s, Lamar White Jr, Lamar, Richard Lardner, Trenton Daniel Organizations: WASHINGTON, Paul Pressler School of Law, Louisiana College, Louisiana Christian University, Republican House, Southern Baptist Convention, Family Research, Southern Poverty Law, Liberty University, Daily, ”, Arkansas Gov, Louisiana Gov, Freedom Guard, Southern Baptist Conference, Shreveport Times, ABC News, Louisiana State University, Democrat, Louisiana Family, Alliance Defense Fund, Alliance Defending, ADF, CNN, Democratic, Civil, Associated Press Locations: Louisiana, Washington, Alexandria , Louisiana, Houston, Pressler, Africa, Shreveport, Shreveport , Louisiana, everyone’s, America, New Orleans, Texas, Orleans Parish, Trump’s, Baton Rouge, New York

☆ Bank of Canada says high rates, slow growth will impact govt spending
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +2 min

OTTAWA, Oct 30 (Reuters) - The Bank of Canada on Monday said higher interest rates and low growth will impact the federal government's budget spending and although the country's fiscal position is sustainable, expenditure should be contained to protect social programs. "Lower growth and higher interest rates will certainly impact on the government's budget," Governor Tiff Macklem told lawmakers in the House of Commons. "I don't think fiscal policy in Canada is in a situation where it's unsustainable. The bank said price risks were on the rise and inflation could exceed its 2% target for another two years. The bank increased rates 10 times between March 2022 and this July to tame inflation, which peaked at a four-decade high of 8.1% last year.

Persons: Macklem, Chrystia Freeland, Ismail Shakil, Steve Scherer, Jonathan Oatis, Marguerita Choy Organizations: OTTAWA, Bank of Canada, Finance, Thomson Locations: Canada, FES, Ottawa

☆ Opinion | Joe Biden Knows What It Actually Means to Be President
▼ + stars: | 2023-10-29 | by ( David French | ) www.nytimes.com time to read: +2 min

There’s a gathering sense that President Biden’s response to the war in Gaza may cost him the 2024 election. On Friday my colleagues in the newsroom reported on a growing backlash against Biden coming from young and left-leaning voters. I don’t think so, and to understand why, it’s important to understand the core responsibilities of an American president. It was delivered most memorably by then-Vice President Biden, of all people, at the 2012 Democratic National Convention. Now fast-forward to August 2024, when Biden will speak on his own behalf in Chicago at the next Democratic convention.

Persons: Biden’s, Biden, Mitt Romney, Barack Obama’s, Obama, Osama, Romney, Laden, Will, Donald Trump Organizations: Gallup, Convention, General Motors, Democratic Locations: Gaza, Israel, Chicago, Europe, China, Taiwan

☆ Israel, It’s Time to Consider a Cease-fire - The New York Times
▼ + stars: | 2023-10-29 | by ( Thomas L. Friedman | ) www.nytimes.com time to read: +12 min

I am watching the Israel-Hamas war in Gaza today and thinking about one of the world leaders I’ve most admired: Manmohan Singh. The cost of occupying Gaza could overstretch the Israeli military and economy for years to come. Israel should keep the door open for a humanitarian cease-fire and prisoner exchange that will also allow Israel to pause and reflect on exactly where it is going with its rushed Gaza military operation — and the price it could pay over the long haul. Israel built an impressive society and economy, even if flawed, and Hamas took nearly all of its resources and built attack tunnels. Follow The New York Times Opinion section on Facebook, Twitter (@NYTopinion) and Instagram.

Persons: I’ve, Manmohan Singh, Singh, Shivshankar Menon, “, ” Menon, ”, Menon, Israel’s, It’s, Israel —, —, Israel, Benjamin Netanyahu’s, Yoav Gallant, Netanyahu, ’ ’, Gaza —, Shin Bet, excusing, don’t Organizations: Pakistan Army, Abraham Accords, Economist, Hamas, United, West Bank, Shin Bet, European Union, Democratic Party, U.S . House, Bank, Gaza, New York, Facebook, Twitter Locations: Israel, Gaza, Pakistani, India, Mumbai, Pakistan, Abraham, United States, Mexico, European, U.S, Washington

☆ Opinion: My country abolished the death penalty. So can yours
▼ + stars: | 2023-10-29 | by ( Opinion Elbegdorj Tsakhia | ) edition.cnn.com time to read: +7 min

He is commissioner of the International Committee against Death Penalty (ICDP). When I entered office in 2009, I quickly came to realize that use of the death penalty in Mongolia had been arbitrary, secretive and cruel. By the end of 2022, more than two-thirds of the world’s nations had done away with the practice, according to the Washington, DC-based Death Penalty Information Center. Research from Amnesty International found no evidence that the death penalty deterred crime more than life imprisonment. When I became Mongolia’s president, five crimes were eligible for the death penalty: two forms of terrorist attacks, sabotage, rape and aggravated murder.

Persons: Tsakhia, Read, Tharman Shanmugaratnam, it’s, who’s, Elbegdorj, –, Lui Tuck Yew, Tharman Organizations: International, CNN, International Covenant, Civil, Political, Amnesty, Central African, Research, Amnesty International Locations: Mongolia, Singapore, Washington, DC, Kazakhstan, Papua New Guinea, Sierra Leone, Central African Republic, Iran, Saudi Arabia, China, Thailand, Malaysia, United States

☆ Vietnam's real estate woes: how much worse can they get?
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +4 min

HANOI, Oct 26 (Reuters) - A rough year for Vietnam's real estate sector has seen developers miss interest payments on debt, amid a credit crunch spurred by ill-timed government measures, although spillover risk has been limited. Shares of the largest listed developer, Vinhomes (VHM.HM), part of the country's biggest conglomerate, Vingroup (VIC.HM), have fallen 13% this year. In September, the Asian Development Bank warned of potential spillover into banking from irregularities in corporate bonds and real estate markets, although troubled bonds made up just a small portion of total bank credit. While ill-timed government measures, companies' high debt and oversupply are responsible for the sectors' woes in both countries, conditions are different in Vietnam. Vietnam has a less acute situation of oversupply and speculation than China, he added, while real estate's contribution to its economy is also smaller.

Persons: Ho, Van Thinh Phat, Jean Xavier of S, Truong, Truong My Lan, Van Thinh, P's Xavier Jean, Francesco Guarascio @fraguarascio, Phuong Nguyen, Anne Marie Roantree, Clarence Fernandez Organizations: Dragon, Hung Thinh Corp, Moody's, Asian Development Bank, P Global, P, Southeast Asia Bank, Maritime Bank, Asia Commercial Bank, Vietnam Prosperity Bank, VP Bank, Bank, Van Thinh Phat Holdings Group, Thomson Locations: HANOI, Ho Chi Minh City, Vietnam, Phu, Hanoi, Southeast, Asia, Truong My, VIETNAM, CHINA, China

☆ US drops digital trade demands at WTO to allow room for stronger tech regulation
▼ + stars: | 2023-10-25 | by ( David Lawder | ) www.reuters.com time to read: +4 min

U.S. Trade Representative Katherine Tai speaks during the Axios BFD event in New York City, U.S., October 12, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsWASHINGTON, Oct 25 (Reuters) - U.S. Trade Representative Katherine Tai has dropped longstanding U.S. digital trade demands in World Trade Organization talks in order to give Congress room to regulate big tech firms, her office said on Wednesday. USTR spokesman Sam Michel said many countries were examining their approaches to data and source code, and how trade rules can affect them. "We need to make clear that digital rules favoring Big Tech monopolies are a non-starter for the U.S. in any trade agreement, including IPEF,” she said. "These digital trade rules prevent countries around the world from using regulation to lock out American companies and their workers from their markets," said John Murphy, the Chamber's senior vice president for international policy.

Persons: Katherine Tai, Brendan McDermid, Trump, Biden, Ron Wyden, ", Wyden, Sam Michel, Michel, Elizabeth Warren of Massachusetts, Tai, ”, USTR, John Murphy, David Lawder, Diane Craft Organizations: Trade, REUTERS, Rights, . Trade, Trade Organization, U.S, Reuters, Prosperity, WIN, Oregon Democrat, Senate Finance Committee, Congress, Intel, Democratic, Big Tech, . Chamber, Commerce, Thomson Locations: New York City, U.S, Geneva, CHINA, China, Australia, Japan, Korea, Oregon, United States, Mexico, Canada

☆ Who's flipped on Trump: A full list of aides, employees, and yes-men who appear to have suddenly had a change of heart in the face of legal issues
▼ + stars: | 2023-10-25 | by ( Sebastian Cahill | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +2 min

Former President Donald Trump is facing multiple legal challenges. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The civil fraud trial, brought by New York Attorney General Letitia James, accuses Trump of falsely inflating his net worth. Another judge previously ruled that Trump committed fraud, but the current trial is meant to determine if his actions were intentional. The conspiratorial thinking may be exacerbated by multiple one-time allies turning on the former President, often when facing legal trouble of their own.

Persons: Donald Trump, —, you've, Stormy Daniels, Trump, Letitia James, Trump's, Mike Pence, Chris Christie, MAGA expats who've Organizations: Service, New York, Prosperity Action, for Growth, Republican, Trump Locations: Georgia, New York

☆ Biden Keeps Australia’s Dinner Low-Key at a Moment of Global Turmoil
▼ + stars: | 2023-10-25 | by ( Katie Rogers | More About Katie Rogers | ) www.nytimes.com time to read: +1 min

How do you throw a state dinner on the South Lawn when the world is burning? By their fourth time around, the Bidens know how to do this. And then you serve up some root vegetables and ice cream. And this state dinner, held in honor of Anthony Albanese, the Australian prime minister, was an opportunity to express a show of nuclear-powered military force to a planet that feels that it is about to spiral away from its axis. “We must continue to advance freedom, security and prosperity for all,’’ President Biden said somberly at the dinner, “and continue to build a future worthy of our highest hopes, even when it’s difficult — especially when it’s difficult.’’

Persons: Anthony Albanese, ’ ’, Biden, somberly, “

☆ Biden officials set $3 bln bank deposit, procurement goals to boost minority firms
▼ + stars: | 2023-10-25 | by ( David Lawder | ) www.reuters.com time to read: +3 min

U.S. Vice President Kamala Harris delivers remarks during the Congressional Black Caucus Foundation Phoenix Awards Dinner at the Walter E. Washington Convention Center in Washington, U.S., September 23, 2023. REUTERS/Elizabeth Frantz/File Photo Acquire Licensing RightsWASHINGTON, Oct 25 (Reuters) - The Biden administration on Wednesday urged big companies to deposit another $2 billion into U.S. community lenders to boost loans to minority and underserved businesses, and asked them to devote 15% of their procurement budgets to such firms. Alphabet Inc's Google (GOOGL.O) will commit to spending at least $1 billion annually with "diverse-owned suppliers" in the United States, the Treasury said. The Treasury had previously invested nearly $9 billion into Community Development Financial Institutions (CDFIs) and minority-owned banking firms to make more capital available to minority firms. "In order for these minority owned banks and CDFIs to lend that money, they need deposits," Deputy Treasury Secretary Wally Adeyemo told reporters.

Persons: Kamala Harris, Walter E, Elizabeth Frantz, Biden, Harris, Wally Adeyemo, David Lawder, Sonali Paul Organizations: Congressional Black Caucus Foundation, Washington Convention Center, REUTERS, Rights, Wednesday, Micron Technology, Air Products, Xcel Energy, Treasury Department, Treasury, Freedman's Bank, Community Development Financial, Management, Internal Revenue Service, Thomson Locations: Washington , U.S, United States

☆ How to play Alphabet's stock after its worst slide in more than a year, according to Wall Street
▼ + stars: | 2023-10-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Alphabet's latest quarterly results left some analysts questioning whether investors should be buying the dominant search engine right now, or opting instead for some of its tech peers. "If you own the stock, the bad news is probably out of the way," said Bernstein analyst Mark Shmulik. We take up our ad revenue estimates, pull cloud and margins down, and we end up right back where we started." Profit margins contracted and the company also said it expects capital spending to increase in the fourth quarter and in 2024. Alphabet sank 9.8% in midday trading Wednesday, on pace for its worst one-day decline since March 2020.

Persons: Bernstein, Mark Shmulik, Wells, Ken Gawrelski, Lloyd Walmsley, Gawrelski, Bank of America's Justin Post, James Lee, — CNBC's Michael Bloom Organizations: Google, Microsoft, UBS, Bank of America's

☆ Here's what all the major analysts are saying about Alphabet before earnings
▼ + stars: | 2023-10-24 | by ( Hakyung Kim | ) www.cnbc.com time to read: +6 min

Wall Street is optimistic ahead of Google 's quarterly earnings announcement Tuesday as the tech giant's advertising revenue growth shows signs of recovery. Analyst Ronald Josey estimates search revenue growth gained 11.3% year-over-year, versus the consensus projection of 9.6%. Bank of America sees search growth accelerating Bank of America also maintained its buy rating and $146 price target. We expect disruption with the format change, which will likely drive headwinds to medium-term search growth. Competitors are likely to bid aggressively for Google's search distribution partnerships, driving profitability lower.

Persons: Doug Anmuth, he's, Ronald Josey, Max, Jefferies, Brent Thill, Michael Bloom Organizations: Google, YouTube, Deutsche, JPMorgan, Citi, 3Q, Bank of America, of America, 2H, 12.1x Locations: Monday's, Wells

☆ Germany's economy ministry plans 50 bln euros boost for industry
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

German Economy and Climate Minister Robert Habeck holds a press conference about the autumn economic forecasts, in Berlin, Germany, October 11, 2023. REUTERS/Liesa Johannssen/File Photo Acquire Licensing RightsBERLIN, Oct 24 (Reuters) - Germany's economy ministry is planning 50 billion euros ($53 billion) in tax breaks over the next four years to help industry and businesses cope with high energy prices, according to a new industrial strategy to be presented Tuesday. The move is part of government efforts to support domestic industry in the face of high energy costs and the draw of incentive programmes in countries such as the United States. He also urged a quick agreement on discounted electricity prices for some parts of industry through state subsidies, a proposal that has been rejected by Chancellor Olaf Scholz. The government last year introduced electricity and gas price caps to shield industry and households from rising energy prices, but energy-intensive companies in Germany say electricity prices are still too high.

Persons: Robert Habeck, Liesa, Chancellor Olaf Scholz, Christian Kraemer, Miranda Murray, Rachel More, Mark Potter Organizations: Climate, REUTERS, Rights, Reuters, Thomson Locations: Berlin, Germany, United States, Russia, Ukraine

The cost to Israel's economy of its war with Hamas militants will be unlike anything it has experienced in decades. "This is not a hit for contractors or industrialists alone," said Raul Sarugo, president of the Israel Builders' Association. Israel was blindsided on Oct. 7 by Hamas gunmen from Gaza who rampaged through border towns in the deadliest attack on civilians in its history. The conflict has also halted the movement of thousands of Palestinian labourers from Gaza to Israel and curtailed the flow from the occupied West Bank. The Economy Ministry created a war room and put out a call for help.

Persons: Raul Sarugo, Israel, Netanel Shraga, Barak Klein, ThetaRay, Erel Margalit, Dror Bin, We've, Bin, Leo Leiderman, Amir Yaron, Yaron, Steven Scheer, Ari Rabinovich, Toby Chopra Organizations: Hamas, Israel Builders ' Association, West Bank, Columbia, HIGH, TECH, Factories, Israel Innovation Authority, Ministry, Bank Hapoalim, Israeli Finance Ministry, Reuters, of Israel, Thomson Locations: Israel, Gaza, Israel's, Iran, Lebanese

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