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☆ The world's 2 biggest economies are moving in starkly different directions
▼ + stars: | 2024-01-31 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. AdvertisementMeanwhile, on Monday, a Hong Kong court ordered the liquidation of China Evergrande, the world's most indebted real estate developer. "I expect that the Chinese market will bounce around, but that the bias is towards more pain since the problems are systemic in my opinion," Laffer Jr. said. "The US on the other hand should do well for the 2024 period — strong economy, strong employment, strong earnings, strong dollar."

Persons: —, That's, Arthur Laffer Jr, Laffer, Xi Jinping, Joseph Seydl, you've, Seydl, didn't, Alfredo Montufar, Helu, China Evergrande Organizations: Service, Real, Business, International Monetary Fund, Investments, JPMorgan Private Bank, Conference Board's China Center, CSI, Bloomberg Locations: China, US, Beijing, backtrack, deleverage, Hong Kong

The order by the Hong Kong High Court also is not a remedy for the crisis of confidence haunting China’s financial markets. Markets in both Hong Kong and Shanghai fell Tuesday while share prices of property developers sank. State-owned Chinese banks and other domestic entities own most of the debt owed by Chinese property developers. David Goodman, director of the University of Sydney’s China Studies Center, said he thinks China’s property debt burdens are unlikely to precipitate a major financial crisis. “The fact of the matter is that the Chinese financial system is not as open or as marketized (as in the United States),” he said.

Persons: Brock Silvers, haven't, Silver, ”, Seng, David Goodman, —, Soo Organizations: Evergrande, Hong Kong High, Kaiyuan, ”, Sunac China Holdings, F Properties, Shanghai, Swiss Re Institute, Swiss, University of Sydney’s China Studies Center Locations: BANGKOK, Hong Kong, China, Beijing, Shanghai, Guangzhou, United States, U.S, Singapore

The court ordered new maps with contiguous districts, but also said the maps must not favor one party over another. Following Friday's map submissions, a pair of consultants hired by the Supreme Court will analyze the proposals and issue a report by Feb. 1. The consultants could choose to ignore all of the maps submitted last week and put forward their own plan. The 50-49 Republican majority map was submitted by Law Forward, the Madison-based law firm representing Democratic voters that brought the lawsuit. Republicans have indicated that they plan an appeal to the U.S. Supreme Court arguing due process violations, but it's not clear when that would occur.

Persons: Tony Evers, Evers, “, ” Evers, “ I’ve, I’d, John D, Johnson, Robin Vos, Janet Protasiewicz Organizations: Court, GOP, Gov, Democratic, Senate, Republican, ” Marquette University Law School, Law, Republicans, Senate Democrats, U.S, Supreme Locations: MADISON, Wis, Wisconsin, Madison, Evers

We need to implement food systems approaches throughout COP28," said Joao Campari, global leader of food practice at the World Wildlife Fund. Doing so could also unlock financial investment in tackling food emissions, said Saswati Bora, global director for regenerative food systems at the Nature Conservancy. TACKLING METHANEA key goal for advocates is reducing methane emissions from food sectors like livestock production and food waste. Countries should also make stronger commitments in NDCs on food waste, said Liz Goodwin, director of food loss and waste at the World Resources Institute. Food waste generates half of all global food system emissions according to a March study published in the journal Nature Food.

Persons: David Swanson, Joao Campari, NDCs, Patty Fong, Saswati Bora, Bora, John Tauzel, Tauzel, Liz Goodwin, Goodwin, Leah Douglas, Josie Kao Organizations: REUTERS, United Nations, Food, Agriculture Organization, FAO, World Wildlife Fund, Conference of, United, United Arab Emirates, Global Alliance, Nature Conservancy, COP26, Environmental Defense Fund, World Resources Institute, Thomson Locations: Corcoran , California, U.S, Dubai, COP28, United Arab, United States, India, China, Canada, NDCs

The United States will, for the first time, require oil and gas producers to detect and fix leaks of methane, a potent greenhouse gas that wafts into the atmosphere from pipelines, drill sites and storage facilities and dangerously speeds the rate of global warming. Michael S. Regan, the administrator of the Environmental Protection Agency, announced the regulation in Dubai, where diplomats from nearly 200 nations have gathered for a two-week United Nations climate summit. Methane is not as widely discussed as the carbon dioxide that results from burning fossil fuels, but it has become a rare area of progress this week at the global talks. Vice President Kamala Harris, the top-ranking American official to visit the summit, was expected on Saturday to highlight the new rule in a speech to delegates. She was also set to announce several other new climate policy initiatives from the administration.

Persons: Michael S, Regan, Kamala Harris Organizations: Environmental Protection Agency Locations: States, Dubai, Nations, Brazil, Kenya, India, United States

☆ 'Give him the benefit of the doubt': Why one gay GOP leader is holding his fire on Mike Johnson — and wants to know if he has any gay friends
▼ + stars: | 2023-11-20 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +17 min

Again, not to predetermine or predispose the speaker, I just don't know how many gay people he knows. Marjorie Taylor Greene said she voted against him in part because he voted for the "Democrat gay marriage bill." So you're out of step, you're out of line, Marjorie, if you've got a problem with gay marriage. I don't think during that time, President Obama or then-Vice President Biden were supportive of LGBT equality. I'm not surprised it tracks with where he is on gay marriage, it tracks with where he is on LGBT acceptance issues in society.

Persons: Mike Johnson's, We've, Charles Moran, —, Mike Johnson, Johnson, litigating, Moran, he's, Steve Scalise, Tom Emmer, …, Jim Jordan, I'm, Kat Cammack, Johnson's, litigate, He's, Marjorie Taylor Greene, Rick Allen, Emmer, Joe Biden, Marjorie, you've, I've, we've, Donald Trump's, Dylan Mulvaney, Bud Light, Obama, Biden, Hillary Clinton, It's, it's, Lawrence, Barack Obama, Eric Holder, That's, they're, haven't Organizations: Republican, Service, Republicans, Republican Conference, Representatives, Research, LGBT, Democrat, House Republican Conference, Senate, US Initiative, Trump, . Texas, Defense, Republican Party, Human, Education Law, HRC Locations: Roman, America, Louisiana, Georgia, ., Florida

Experts say new steps China has agreed to will eventually reduce the flow of the deadly opioid fentanyl into the U.S., but that alone will not stem the overdose crisis killing Americans at a record rate. Synthetic opioids are now the biggest killers in the deadliest drug crisis the U.S. has ever seen. More than two-thirds of those deaths — more than 200 per day — involved fentanyl or similar synthetic drugs. It's in counterfeit pills and cocaine, in some cases causing overdoses in people who have no idea that they're using fentanyl. A growing number of places are allowing drug screening kits so users can find out if their drugs include fentanyl.

Persons: Joe Biden, Xi Jinping, ”, Adam Wandt, “, Wandt, Kevin Roy, ” Roy, Rahul Gupta, it’s, Donald Trump, It's, Xi, ” Biden, Xi’s, Wang Wenbin, they're, we’re, Regina LaBelle, Biden, Andres Manuel Lopez, LaBelle, Didi Tang Organizations: John Jay College of Criminal, of National Drug Control, U.S . Centers for Disease Control, San Francisco Wednesday, Chinese Foreign Ministry, International Narcotics, U.S, Georgetown University’s O’Neill, Associated Locations: China, U.S, California, America, Mexico, U.S . China, San Francisco, United States

☆ UK PM Sunak under pressure to sack interior minister over police criticism
▼ + stars: | 2023-11-10 | by ( Andrew Macaskill | ) www.reuters.com time to read: +3 min

[1/3] Home Secretary Suella Braverman with Prime Minister Rishi Sunak as he hosts a policing roundtable at 10 Downing Street, London, Britain October 12, 2023. Braverman, the home secretary responsible for policing and national security, has a long history of making controversial statements that have alienated her more moderate colleagues. Some Conservative Party politicians called for her to be moved or distanced themselves from her comments on Friday. Since the article was published, Braverman has not apologised. Britain's finance minister, Jeremy Hunt, was the most senior member of the government to distance himself from Braverman's comments on Friday.

Persons: Suella Braverman, Rishi Sunak, James Manning, Braverman, Geoffrey Clifton, Brown, Sunak, Downing, Keir Starmer, Jeremy Hunt, Andrew MacAskill, Jan Harvey Organizations: Downing, British, Conservative Party, BBC, Labour Party, Times, Thomson Locations: London, Britain, Braverman, Israel

☆ Israel's 'containment' of Iran as a long-term strategy is unsustainable: Former WH advisor Dan Senor
▼ + stars: | 2023-11-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIsrael's 'containment' of Iran as a long-term strategy is unsustainable: Former WH advisor Dan SenorDan Senor, Foreign Policy Initiative co-founder and ‘The Genius of Israel’ co-author, joins 'Squawk Box' to discuss the latest developments in the Israel-Hamas war, U.S. response to the conflict, implications for a broader Middle East conflict, and more.

Persons: Dan Senor Dan Senor, Israel ’ Organizations: Foreign, Initiative Locations: Iran, Israel, U.S

Amid the economic turmoil of the pandemic, his government racked up Canada's highest ever deficit. Failing to curb spending now risks "the market dictating to you what you have to do with fiscal policy," said Doug Porter, chief economist at BMO Capital Markets. "I do think they have to trim the sails a bit," he added. "It's going to be easier to get inflation down if monetary and fiscal policy are rowing in the same direction," Macklem said. Fitch Ratings stripped Canada of its triple-A credit rating in June 2020, citing pandemic spending.

Persons: Justin Trudeau, Doug Porter, Chrystia Freeland, Katherine Cuplinskas, Trudeau, Macklem, Desjardins, Randall Bartlett, Simon Deeley, Robert Asselin, DBRS Morningstar, Julia Smith, Steve Scherer, Fergal Smith, Denny Thomas, Josie Kao Organizations: OTTAWA, Trudeau's Liberal, BMO Capital Markets, Finance, International Monetary Fund, of Canada's, BoC, UK, RBC Dominion Securities Inc, New, Business Council of Canada, Fitch, Moody's Investors, Canada, Thomson Locations: Canada, FES, Germany, High, Ottawa, Toronto

☆ In the ultimate irony, Russia's obsession with Ukraine may have weakened its power over its other neighbors
▼ + stars: | 2023-10-26 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +7 min

Russian President Vladimir Putin speaks during a press conference at the Commonwealth of Independent States' head of states meeting on Oct. 13, 2023, in Bishkek, Kyrgyzstan. This pool photograph distributed by Russian state owned agency Sputnik shows Russia's President Vladimir Putin and his Kyrgyz counterpart Sadyr Japarov attending a welcoming ceremony prior to their talks in Bishkek on October 12, 2023. In fact, she said, Kyiv's resistance highlighted to Russia's neighbors and partners that "Russian power is a bubble with only a nuclear button in its center." Russian President Vladimir Putin enters the hall during Russian-Uzbek talks at the Grand Kremlin Palace on Oct. 6, 2023. So it's fair to say that if you do not control Ukraine, you do not control the post-Soviet space," he told CNBC.

Persons: Vladimir Putin, —, Georgia —, It's, Emmanuel Dunand, Sadyr Japarov, Sergei Karpukhin, Vladimir Putin's, Dmitry Peskov, Peskov, Vira Konstantinova, Vladimir Milov, Putin, Milov, Milov —, — Putin, Igor Semivolos, Ilham Aliyev Organizations: Commonwealth of Independent States, Getty, Afp, Azerbaijan, Sputnik, Kyrgyz, AFP, CNBC, Russian, West, Center for Middle East Studies, Anadolu Agency Locations: Bishkek, Kyrgyzstan, Ukraine, Moscow, Soviet Union, South Caucasus, Armenia, Azerbaijan, Georgia, Belarus, Kazakhstan, Russia, Karabakh, Lachin, Nagorno, Kyiv, Transnistria, Moldova, Abkhazia, South Ossetia, USA, Turkey, Baku

They took swipes at the United States and depicted themselves as building a “fairer, multipolar world.” And they marveled at their countries’ “deepening” trust. And he gave a prominent role to President Vladimir V. Putin of Russia, underscoring how central their relationship is to Mr. Xi’s vision. Mr. Putin was treated as the guest of honor and often pictured by Mr. Xi’s side. While Mr. Putin and Mr. Xi huddled, President Biden landed in Israel on a visit aimed at preventing the war between Israel and Hamas from spreading. Though Mr. Xi did not publicly remark on the war, Mr. Putin, at a news briefing, blamed the United States for increasing tensions in the Middle East by sending warships to the region.

Persons: Xi Jinping, Vladimir V, Putin, Mr, Xi, Biden, ” Locations: China, Russia, United States, Beijing, Ukraine, Gaza, Israel, Russo

At the Belt and Road Forum in Beijing, United Nations Secretary-General Antonio Guterres called for an immediate humanitarian ceasefire. “China is endeavoring to build itself into a stronger country and rejuvenate the Chinese nation on all fronts by pursuing Chinese modernization. World leaders, representatives and delegations from more than 140 countries – including in the Middle East and the Taliban – are attending the gathering marking one decade since the launch of Xi’s flagship Belt and Road Initiative. Beijing aims to gloss over these challenges at the gathering to project its power and laud its contributions to global development as a prime example of its superior leadership. “What has been achieved in the past 10 years demonstrates that Belt and Road cooperation is on the right side of history.

Persons: Vladimir Putin, Xi Jinping, Putin, Xi, “, Joe Biden, Antonio Guterres, “ I’m, ”, ” Xi, Kassym, Joko, laud Organizations: Beijing CNN —, Wednesday, Forum, Initiative, of, Israel, United Nations, CCTV, West, International, Hosting, Beijing –, Communist Party, Beijing Locations: Beijing, China, Russia, Israel, Europe, United States, Ukraine, Russian, Zaporizhzhia

That shift in legal doctrine was profound, shaping how courts have applied antitrust law ever since. Khan’s ideas have challenged the closest thing to a sacred cow in antitrust law. The most ambitious of those never became law, but Khan’s role in the probe, which Cicilline described as “critical,” helped further raise her profile. Amazon and Meta have both pushed for Khan to recuse herself from matters involving the companies, questioning her objectivity. The US Federal Trade Commission sued Amazon.com Inc. in a long-anticipated antitrust case, accusing the e-commerce giant of monopolizing online marketplace services by degrading quality for shoppers and overcharging sellers.

Persons: Lina Khan, Khan, Stephanie Keith, ” Khan, “, Joe Biden, ”, William Kovacic, George W, Bush, Barry Lynn, Lynn, New America Foundation —, Obama, —, ” Lina Khan, Rong Xu, ” Lynn, it’s, ’ ”, Reagan, Robert Hockett, Khan’s, David Cicilline, Lina, ” Cicilline, Cicilline, Justin Tallis, Biden, Trump, Douglas Farrar, Gary Gensler, Tom Williams, Jonathan Kanter, Roe, Wade, Kevin Kiley, Meta, she’s, “ We’ve, they’re, Federal Trade Commission Lina Khan, Al Drago, Kathleen Bradish, Bradish, Christine Wilson, Wilson, Noah Phillips, Gabby Jones, NetChoice, Carl Szabo, “ It’s, ” Szabo, There’s, ” Kovacic Organizations: CNN, Federal Trade Commission, Amazon, FTC, Big, Microsoft, Meta, Bloomberg, Getty, Republican, White House, Williams College, New America Foundation, Washington Monthly, Yale Law, Washington Post, Cornell Law School, Big Tech, Rhode, Rhode Island Democratic, Apple, Facebook, Cambridge, Activision, SEC, Financial Services, General Government, Securities and Exchange Commission, Capitol, Justice Department, Epic Games, California Republican, Washington , D.C, American Antitrust Institute, GOP, US Federal Trade Commission, Amazon.com Inc Locations: Big Tech, Robbinsville , New Jersey, Washington, Larchmont , New York, Rhode Island, Washington ,, New York

Students nationally are holding people in power accountable, said Jackie Alexander, incoming president of the College Media Association and director of student media at the University of Alabama-Birmingham. With growing reports of student journalists being doxxed, ostracized on campus and otherwise harassed, the College Media Association is looking into ways to help them, Alexander said. “I've never seen a better front page,” veteran editor and Columbia Journalism School professor Bill Grueskin said on social media. “So many people think of student journalists as students first,” Martin said. “But in a lot of ways student journalists are just journalists.

Persons: Stanford, “ I've, —, “, ”, Theo Baker, Marc Tessier, Lavigne, George Polk, Polk, Pat Fitzgerald, Jackie Alexander, ” Alexander, ” Charles Whitaker, ” Whitaker, Tessier, Levigne, it's, He's, ” Baker, he's, Peter Baker, Susan Glasser, Alexander, Martin, lowkey, Joe Biden, Bill Grueskin, ” Martin, Raul Reis, ” Reis, ” There's, Whitaker, there's, aren't Organizations: Northwestern University's, Stanford University, Columbia Daily Spectator, Harvard Crimson, Harvard, Foreign, Initiative, College Media Association, University of Alabama, Medill, Daily Northwestern, Stanford, The New York Times, The, University of North, Columbia Journalism, UNC, Trump, The University of Texas, Austin Locations: New York, Birmingham, University of North Carolina, North Carolina, Chapel Hill, Manhattan, Morningside Heights, West Harlem, Texas

☆ Can U.S. drone makers compete with cheap, high-quality Chinese drones?
▼ + stars: | 2023-10-11 | by ( Brad Howard | In | ) www.cnbc.com time to read: +2 min

The U.S. domestic drone industry has found itself at a disadvantage when it comes to producing these useful remote-controlled flying machines in America. Chinese drone maker DJI remains the king of the industry, controlling more than 70% of the global drone market. DJI drones are currently used by state university researchers, police departments, firefighters and other groups across the U.S. that could be affected by potential bans on Chinese-produced drones. "It is going to be key that the U.S.-produced drones, or drones produced by trusted allies, become more affordable." Watch the video above to find out if the U.S. drone industry can compete with Chinese drone producers.

Persons: Adam Bry, Adam Welsh, Mark Montgomery Organizations: CNBC, Israel, Center, Foundation for Defense of Democracies Locations: America, China, U.S, DJI, Russia, Ukraine

☆ Germany, France Hold Unprecedented Cabinet Retreat to Oil Creaky EU Motor
▼ + stars: | 2023-10-09 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +3 min

"Macron and Scholz are simply very different personalities," Anton Hofreiter, chair of the German parliament's Committee on European Union Affairs and member of the Greens. "Ultimately the point of bilateral relations is to overcome differences- that is the core of the EU," a French cabinet member said, on condition of anonymity. The informal team-building exercise is in keeping with the German tradition of holding cabinet "Klausur" or retreats. The stakes are high, said Detlef Seif, a leading German Christian Democratic Union lawmaker on EU affairs. (Reporting by Sarah Marsh and Andreas Rinke in Berlin; Additional Reporting by Michel Rose in Paris; Editing by Ros Russell)

Persons: Sarah Marsh, Andreas Rinke BERLIN, Jacob Ross, Emmanuel Macron, Angela Merkel, Olaf Scholz, Macron, Scholz, Anton Hofreiter, Detlef Seif, Andreas Rinke, Michel Rose, Ros Russell Organizations: German, Foreign Relations, European Union Affairs, Greens, German Christian Democratic Union, EU, Reuters Locations: France, Hamburg, Europe, Ukraine, China, Brussels, Russian, Berlin, United States, Germany, German, Paris

☆ Biden launches paid program for 20,000 young people to train for green jobs
▼ + stars: | 2023-09-20 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

The White House on Wednesday announced a program that will aim to train 20,000 young people for climate-focused jobs related to clean energy, land restoration, forest management and more. In addition to training, the program also intends to be a pipeline for participants to get hired into green jobs. In 2021, he proposed spending $30 billion on a Civilian Climate Corps, which would have had over 300,000 members, as a part of the larger Build Back Better Act bill, the framework of Biden's climate agenda. The Civilian Climate Corps appeared to be a modern version of the New Deal-era Civilian Conservation Corps, a program for unmarried young men to train for jobs in public land and forest improvement. The White House didn't announce how much it was spending on the program.

Persons: Joe Biden, Lucy Evans Organizations: Interpretive, Wednesday, American, Corps, White, Civilian, Civilian Conservation Corps, Democratic Locations: Palo Alto , California

A favorable vote would ask the Mississippi River Cities and Towns Initiative to pursue a new river compact, according to a draft copy of the motion. “People are aware of how those low levels on the Mississippi River affect commerce and the communities,” she said. The Upper Mississippi River Basin Association has existed for decades to foster cooperative management of the river. Jennifer Gimbel, senior water policy scholar at Colorado State University, said the obstacles to a pipeline are high. Dorothy said a compact would be a good way to say “this is our water.”“If you want the Mississippi River water, you can move here," she said.

Persons: Colin Wellenkamp, ”, “, hasn’t, Asia “, David Strifling, Strifling, ” Wellenkamp, Melissa Scanlan, John Fleck, Jennifer Gimbel, Gimbel, Olivia Dorothy, Dorothy Organizations: LOUIS, —, Towns Initiative, Great, Marquette Law, Water, Initiative, Center for Water, University of Wisconsin -, “, Basin, University of New Mexico School of Law, Colorado State University, Associated Press, Walton Family Foundation, AP Locations: Mississippi, Cities, United States, Minnesota, Louisiana, Gulf of Mexico, Wisconsin, Iowa , Illinois , Missouri , Kentucky , Tennessee , Arkansas, Canadian, Great, Asia, Great Lakes, University of Wisconsin - Milwaukee, Upper Mississippi, “

☆ Hundreds of millions pledged for African carbon credits at inaugural climate summit
▼ + stars: | 2023-09-04 | by ( Duncan Miriri | ) www.reuters.com time to read: +5 min

Companies Climate FollowVitol SA FollowNAIROBI, Sept 4 (Reuters) - An initiative to boost Africa's carbon credit production 19-fold by 2030 drew hundreds of millions of dollars of pledges on Monday as Kenyan President William Ruto opened the continent's first climate summit. In one of the most anticipated deals, the United Arab Emirates (UAE) committed to buying $450 million of carbon credits from the Africa Carbon Markets Initiative (ACMI). "There hasn't been any success for an African country in attracting climate finance," said Bogolo Kenewendo, a United Nations climate adviser and former trade minister in Botswana. Many African campaigners have opposed the summit's approach to climate finance, and about 500 people marched in downtown Nairobi on Monday to protest. They say carbon credits are a pretext for continued pollution by wealthier countries and corporations, who should instead pay their "climate debt" through direct compensation and debt relief.

Persons: William Ruto, Ruto, Bogolo Kenewendo, Bogolo, Kevin Kariuki, Patricia Scotland, Esa Alexander, we've, Hassan Ghazali, Britain, Sultan Al Jaber, COP28, Duncan Miriri, Simon Jessop, Jefferson Kahinju, Aaron Ross, Hereward Holland, Angus MacSwan, Susan Fenton Organizations: United Arab Emirates, Africa Carbon Markets, United, African Development Bank, Reuters, International Monetary Fund, REUTERS, Climate Asset Management, HSBC Asset Management, Debt, Green, Thomson Locations: NAIROBI, UAE, Nairobi, Africa, United Nations, Botswana, Muloza, Mozambique, Blantyre, Malawi, Liberia, Tanzania, Germany, Kenya

☆ African climate summit seeks to shift focus to finance from floods, famine
▼ + stars: | 2023-08-31 | by ( Duncan Miriri | ) www.reuters.com time to read: +5 min

A report last year by the non-profit Climate Policy Initiative found Africa has received only 12% of the finance it needs to cope with climate impacts. The thousands of delegates are expected to debate solutions ahead of a U.N. climate summit next month in New York in September and the COP28 U.N. summit in the United Arab Emirates from the end of November. The summit's organisers also say they expect deals worth hundreds of millions of dollars to be concluded in Nairobi. In June, it hosted an auction where companies from Saudi Arabia bought more than 2.2 million tonnes of carbon credits. One project generating carbon credits in Kenya is BURN Manufacturing's production of clean cooking stoves to replace heavily polluting wood and charcoal-based fires.

Persons: Finbarr O'Reilly, Soipan Tuya, Amos Wemanya, Chris McKinney, Joseph Ng'ang'a, Duncan Miriri, Christophe Van Der, Aaron Ross, Barbara Lewis Organizations: REUTERS, Rights, Initiative, Kenyan Environment, United, United Arab Emirates, Kenya, Africa Carbon Markets, Thomson Locations: Haute Uele, Congo, Rights NAIROBI, Africa, Nairobi, New York, United Arab, Gabon, Saudi Arabia, Kenya, Egypt

Leading the round alongside BlackRock, the world's biggest asset manager, were Canada Pension Plan, Ontario Municipal Employees Retirement System and, as previously reported, pension investor Investment Management Corporation of Ontario. The fresh funds will help the firm expand its factory footprint, Hartman said. Separately, Northvolt has assembled its first energy storage system products in Poland and expects to start customer deliveries from later this year. "We have a business plan... we always want to make sure we have access to the markets," Hartman said. Reuters has previously reported, citing sources, that Northvolt was preparing for an initial public offering that could value the company at more than $20 billion.

Persons: Helena Soderpalm, IMCO, Northvolt, Alexander Hartman, Goldman Sachs, Baillie Gifford, Swedbank, Singapore's, Chow, Hartman, Supantha Mukherjee, Simon Jessop, Mark Potter Organizations: REUTERS, BlackRock, Reuters, Management Corporation of Ontario, Volkswagen, Chow Tai Fook Enterprises, BMW, Volvo, Thomson Locations: Vasteras, Sweden, BlackRock, Canada, STOCKHOLM, LONDON, Swedish, Europe, North America, Ontario, Hong Kong, Germany, United States, Scania, Poland, Stockholm, London

☆ One year on, Biden still needs to explain his signature clean energy legislation
▼ + stars: | 2023-08-16 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +6 min

REUTERS/Leah Acquire Licensing Rights Read moreAug 16 (Reuters) - U.S. President Joe Biden on Wednesday marks the first anniversary of signing his signature clean energy legislation called the Inflation Reduction Act by leading a campaign to better explain to Americans what, exactly, it does. Twelve months after it passed, the law commonly referred to as the IRA, like most major U.S. legislation, is drawing mixed reviews. Meanwhile, many Americans, even those who support Biden, don't know much about it, according to Reuters opinion polls. Biden has expressed regret at calling the bill the Inflation Reduction Act. "Voters hear the Inflation Reduction Act, but they do not see their grocery bills coming down.

Persons: Joe Biden, Leah, Biden, Democrat Biden, Donald Trump, Moody's, MARK Biden, Goldman Sachs, WHAT'S, Jimmy Siegel, Jarrett Renshaw, Nichola Groom, Moira Warburton, Heather Timmons, Grant McCool Organizations: Infrastructure Law, White, REUTERS, Democrat, U.S, Republican, LOVE, Wall Street, Bank of America, Democrats, Credit Suisse, University of Pennsylvania’s Wharton Business School, Reuters, Washington Post, University of Maryland, White House, Democratic, Thomson Locations: Washington , U.S, U.S, Utah

WASHINGTON, Aug 16 (Reuters) - U.S President Joe Biden on Wednesday used the first anniversary of his signature Inflation Reduction Act to pitch the landmark clean-energy law as an economic powerhouse to a public that remains largely unaware of its contents. The legislation, Biden said, has shifted production of critical components away from China and into the United States. [1/3]U.S. President Joe Biden delivers remarks during an event to celebrate the anniversary of his signing of the 2022 Inflation Reduction Act legislation, in the East Room of the White House in Washington, U.S., August 16, 2023. The bill's name, the Inflation Reduction Act, helped solve a political problem for Democrats who were concerned that voters would punish them for soaring prices in the 2022 congressional elections. "Voters hear the Inflation Reduction Act, but they do not see their grocery bills coming down.

Persons: Joe Biden, Biden, Moody's, Kevin Lamarque, MARK Biden, WHAT'S, Jimmy Siegel, Jarrett Renshaw, Nichola Groom, Moira Warburton, Heather Timmons, Grant McCool, Jonathan Oatis, Andy Sullivan Organizations: Biden, LOVE, Wall, Bank of America, White, REUTERS, Democrats, Reuters, Washington Post, University of Maryland, White House, Democratic, Thomson Locations: China, United States, U.S, Asia, Europe, Washington , U.S

☆ India is a rising force in Southeast Asia as region seeks to counter China's dominance
▼ + stars: | 2023-08-14 | by ( Sumathi Bala | ) www.cnbc.com time to read: +8 min

(Photo credit RAVEENDRAN/AFP via Getty Images) Raveendran | Afp | Getty ImagesIndia is taking major strides to expand its influence in Southeast Asia, a move that will allow countries to counter China's dominance in the region. "India certainly is becoming more ambitious in Southeast Asia. "This is particularly salient to the maritime sphere, namely the South China Sea, where overlapping sovereignty disputes threaten regional stability and openness," he added. "It continues to maintain a very independent streak in its foreign policy, which suits a large number of Southeast Asian countries." While China remained the most influential and strategic power in Southeast Asia, its standing has diminished, the Southeast Asia survey from February showed.

Persons: Pant, Subrahmanyam Jaishankar, Narendra Modi's, Satoru Nagao, Nagao, Derek Grossman, Modi, Xi Jinping, Ted Aljibe, Enrique Manalo, Rand's Grossman, Joanne Lin, Lin, ISEAS's Lin Organizations: Indian, Getty, Afp, Observer Research Foundation, CNBC, Southeast, Hudson Institute, Vietnam Air Force, Rand Corporation, TED ALJIBE, Initiative, ASEAN Studies, Yusof Ishak Institute, Observers, Pant Observer Research, China -, Wilson Center, ASEAN Wonk, U.S, ASEAN Studies Centre, Yusof, Ukraine, U.S ., New Delhi's Observer Research Foundation Locations: New Delhi, AFP, Southeast Asia, India, China, Beijing, Vietnam, Tokyo, China —, Manila, Philippine, Delhi, The Hague, Philippines, Malaysia, Brunei, ISEAS, Singapore, Asia, Europe, China - U.S, U.S, New

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