DIRS.INFO The most relevant business & tech news

☆ Billionaire Richard Branson's Virgin Galactic lays off 185 employees as it doubles down on efforts to build new spaceships
▼ + stars: | 2023-11-09 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Virgin Galactic has laid off 185 employees, which represented about 18% of its workforce. AdvertisementAdvertisementThe ships are designed to carry six passengers on weekly spaceflights, Virgin Galactic has previously said . Virgin Galactic completed its first commercial space flight in June and carried out a total of five commercial flights this year, Space News reported. Earlier this year, Virgin Galactic was selling tickets for its commercial flights at $450,000 each, per a brochure previously listed on its website. Virgin Galactic didn't immediately respond to Insider's request for comment, made outside of normal working hours.

Persons: —, Michael Colglazier, Colglazier, Richard Branson, Virgin Galactic didn't Organizations: Virgin Galactic, Service, Galactic, CNBC, Delta, New Mexico's, Space News Locations: Phoenix , Arizona, Phoenix, New, America

Republican presidential candidate and Florida Governor Ron DeSantis speaks during a campaign event in Myrtle Beach, South Carolina, U.S., October 20, 2023. There were few details disclosed about the shipments, including where the materials originated, and which third parties Florida worked with. "We also worked with the Consul General to help get weapons and ammunition to Israel through private parties." Some 54% of Republicans said the U.S. should support Israel, versus 22% who said the U.S. should be a neutral mediator and 1% who said the U.S. should support the Palestinians. Earlier in October, DeSantis had sent two cargo planes to Israel containing medical supplies, toys, clothing and other non-combat-related items.

Persons: Ron DeSantis, Randall Hill, Joe Biden, Donald Trump, Jeremy Redfern, DeSantis, Biden, Gram Slattery, James Oliphant, Steve Holland, Humeyra Pamuk, David Shepardson, Trevor Hunnicutt, Ross Colvin, Jonathan Oatis Organizations: Florida, REUTERS, Rights, . Commerce Department, Republican, Democratic, Palestinian, Hamas, Reuters, Republicans, Thomson Locations: Myrtle Beach , South Carolina, U.S, Florida, Israel, Iran, Miami, Israeli, America, Washington

The American people must understand just how shocking and gruesome Hamas’ actions were, Biden told his aides. I think we can change the Middle East,” Biden told a group of Jewish American leaders on Wednesday. “If tomorrow Hezbollah started launching missiles into Israel, that would be seen as a real escalation,” according to a person close to the situation. In his private conversations with Netanyahu, Biden has not urged the Israeli leader to practice restraint in its counterattack against Hamas. “He has always approached Israel with moral clarity and full commitment,” a senior adviser to the president told CNN.

Persons: Joe Biden, Biden, ” Biden, “, Benjamin Netanyahu, John Kirby, it’s, ”, Netanyahu, –, Biden’s, CNN’s Matthew Chance, I’m, Jake Sullivan, Netanyahu’s, ” Sullivan, Netanyahu “, Alexandria Ocasio, ” Ocasio, Cortez Organizations: CNN, White, Jewish, Israel, National Security Council, Senate Foreign Relations, Defense Department, Biden, Democratic Party, New, New York Democrat Locations: Israel, Europe, Tehran, Gaza, United States, Ukraine, Iran, Afghanistan, “, Alexandria, Cortez, New York

☆ Moody’s: Government shutdown could hurt America’s top credit rating
▼ + stars: | 2023-09-25 | by ( Alicia Wallace | ) edition.cnn.com time to read: +3 min

Minneapolis CNN —The United States’ credit rating could come under pressure if the government shuts down, Moody’s Investors Service cautioned Monday. A shutdown would be “credit negative” for the US sovereign, according to a Moody’s note. Moody’s is the only one of the three major credit rating agencies to assign the United States an outstanding rating of AAA. Standard and Poor’s downgraded the United States in 2011, following the debt ceiling standoff then. In August, Fitch Ratings knocked America’s credit rating down to AA+ after the most recent debt ceiling debate.

Persons: “, ” Moody’s, Poor’s, Moody’s, It’s, Donald Trump’s, —, Betsy Klein, Matt Egan Organizations: Minneapolis CNN, United, Moody’s, AAA, Fitch, Congressional, US Travel Association, Federal Reserve, Labor Statistics Locations: Minneapolis, United States

☆ Republican lawmaker seeks details of Tesla relationship with Chinese battery maker CATL
▼ + stars: | 2023-09-19 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

Smith said the committee is concerned CATL "may be trying to negotiate other agreements like the agreement with Ford." Republicans in Congress have been probing Ford Motor's (F.N) planned $3.5 billion investment to build a battery plant in Michigan using technology from CATL, the world's largest battery maker. The question is what precisely constitutes a "foreign entity of concern", and so far no foreign battery supplier has been labeled as such. Tesla, CATL and Nissan did not immediately respond to requests for comment. In July, Smith and Mike Gallagher, Republican chair of the Select Committee on China, demanded Ford answer questions about the CATL deal.

Persons: Florence, Tesla, Jason Smith, Elon Musk, Smith, Ford, Musk, Mike Gallagher, Janet Yellen, David Shepardson, Stephen Coates, Himani Organizations: Fair for Trade, Services, REUTERS, Rights, Republican, Ford, Reuters, Republicans, Nissan, American, U.S . Treasury, Treasury, Thomson Locations: Beijing, China, Michigan, CATL, United States, America

☆ Virgin Galactic launches three paying customers to space
▼ + stars: | 2023-09-08 | by ( Jackie Wattles | ) edition.cnn.com time to read: +5 min

CNN —Virgin Galactic notched its third commercial spaceflight, launching three paying customers on a roughly 90-minute flight that briefly touched the edge of space. Also on board were two Virgin Galactic pilots, commander Nicola Pecile and Michael Masucci. Virgin Galactic stock has shed more than 30% of its value over the past month despite the company’s recent successes. On its first commercial launch, Virgin Galactic carried members of the Italian air force and an Italian engineer on a science research mission. All told, Virgin Galactic has sold about 800 tickets, including 600 at earlier price points up to $250,000 and, more recently, another couple hundred at $450,000 per ticket.

Persons: Virgin Galactic’s, Ken Baxter, Timothy Nash, Adrian Reynard, Nicola Pecile, Michael Masucci, Beth Moses, Virgin Galactic, Richard Branson, Michael Colglazier, Jeff Bezos, Jon Goodwin, Baxter, “ I’ve, Sir Richard, ”, Ken Baxter's Organizations: CNN, Virgin Galactic, Virgin, VSS Unity, America Locations: Vegas, British, South Africa, United Kingdom, New Mexico, Texas, Italian, Antigua

☆ US Commerce chief seeks trade, tourism boost in China talks
▼ + stars: | 2023-08-27 | by ( David Shepardson | ) www.reuters.com time to read: +5 min

[1/4] U.S. Commerce Secretary Gina Raimondo, shakes hands with Lin Feng, Director General of China Ministry of Commerce as U.S. Republicans in Congress have criticized the possibilityRaimondo will establish a working group with China during the visit to discuss U.S. semiconductor export controls. China's ambassador to the United States, Xie Feng, who met Raimondo last week, said China seeks "mutual respect, peaceful coexistence and win-win cooperation". 'MANY CHALLENGES'Raimondo, the fourth high-level U.S. official to visit China recently, is the first commerce secretary to make the trip in seven years. China and the United States agreed this month to double the number of flights permitted between them - still a fraction of the number before the pandemic.

Persons: Gina Raimondo, Lin Feng, China Nick Burns, Andy Wong, Raimondo, I'm, Mintz, " Raimondo, China Nicholas Burns, Joe Biden, Xie Feng, Wendy Cutler, Xi Jinping, Walt Disney, David Shepardson, Michael Martina, Robert Birsel, Bill Berkrot Organizations: . Commerce, China Ministry of Commerce, Beijing Capital International Airport, REUTERS Acquire, Rights, Micron Technology, U.S, Chinese Commerce Ministry, Republicans, Asia Society Policy Institute, United, Walt, Shendi Group, Reuters, Boeing, Thomson Locations: China, Beijing, Rights BEIJING, United States, Shanghai, America, U.S, Washington

☆ Trump's universal tariffs would stifle economy, fuel inflation - White House
▼ + stars: | 2023-08-23 | by ( Nandita Bose | ) www.reuters.com time to read: +2 min

A view of the White House in Washington, U.S. January 18, 2021. REUTERS/Jim Bourg/File Photo Acquire Licensing RightsWASHINGTON, Aug 23 (Reuters) - The White House said on Wednesday former President Donald Trump's proposal to impose new tariffs on all foreign imports would hurt America's working families, damage the economy and fuel inflation. Among the ideas they discussed was Trump's plan to enact a universal baseline tariff on virtually all imports to the United States if elected, the report said. "Combining a sweeping tariff tax on the middle class with more trickle-down tax welfare for rich special interests would stifle economic growth and fuel inflation," White House spokesman Andrew Bates said. Trump, Florida Governor Ron DeSantis and former UN Ambassador Nikki Haley have all called for the United States to end permanent normal trade relations with China.

Persons: Jim Bourg, Donald Trump's, America's, Trump, Andrew Bates, Bates, Biden, Xi Jinping, Ron DeSantis, Nikki Haley, Nandita Bose, Shri Navaratnam Organizations: White, REUTERS, Rights, Washington Post, U.S, Reuters, Thomson Locations: Washington , U.S, New Jersey, United States, China, Trump , Florida, Trump, Washington

☆ Virgin Galactic launches tourists to edge of space
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: 1 min

VSS Unity rocket operated by Virgin Galactic lands after the company's first commercial flight to the edge of space, at the Spaceport America facility, in Truth or Consequences, New Mexico, U.S., June 29, 2023. REUTERS/Jose Luis Gonzalez/File PhotoWASHINGTON, Aug 10 (Reuters) - Virgin Galactic on Thursday blasted three tourists to the edge of space aboard its air-launched VSS Unity spaceplane, a live stream showed, the Richard Branson-founded company's second commercial mission as it starts routine flights. The rocket-powered VSS Unity craft dropped from the carrier plane over New Mexico around 9:20 a.m. local time and blasted its four passengers, a company instructor and three tourists, to an altitude of roughly 55 miles (88.51 km). Reporting by Joey Roulette; Editing by Mark Porter and Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Persons: Jose Luis Gonzalez, Richard Branson, Joey Roulette, Mark Porter, Richard Chang Organizations: VSS Unity, Virgin Galactic, America, REUTERS, Galactic, VSS, Thomson Locations: New Mexico, U.S

☆ Virgin Galactic launches first tourist flight to space
▼ + stars: | 2023-08-10 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Virgin Galactic flew its second commercial spaceflight on Thursday, its first carrying private-paying tourists. Virgin Galactic uses a two-step system known as "air launch" to fly its passengers on a suborbital spaceflight. "We did not, in fact" see any fallout from Virgin Galactic customers, Colglazier said. The company completed its first commercial spaceflight, the Galactic 01 mission, in June carrying members of the Italian Air Force. Virgin Galactic has a backlog of about 800 passengers.

Persons: – CJ Sturckow, Kelly Latimer –, Beth Moses, Jon Goodwin, Keisha Schahaff, Anastatia Mayers, Elon Musk's, Virgin Galactic's, Michael Colglazier, Colglazier Organizations: Virgin Galactic, America, Space, Humanity, Virgin, VSS, Elon, Elon Musk's SpaceX, Italian Air Force . Virgin Galactic Locations: New Mexico, Caribbean

☆ A mother-daughter duo will join an 80-year-old Olympian on Virgin Galactic's first space tourism flight on Thursday. Here's how to watch live.
▼ + stars: | 2023-08-08 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +5 min

Virgin Galactic plans to launch its first space tourist flight on Thursday. These are the first commercial passengers to fly aboard Virgin Galactic's first private commercial spaceflight, due to take off Thursday. Keisha Schahaff won her tickets through a raffle while on a Virgin flight from Antigua to London in 2021. "The whole team just swarmed into my house saying 'You're the winner, you're going to space,'" Schahaff told the BBC. This is Virgin Galactic's second commercial flight and the first to carry paying customers.

Persons: Richard Branson's Virgin, Sir Richard, Jon Goodwin, Keisha Schahaff, Virgin Galactic's, Virgin Galactic Goodwin, Goodwin, Schahaff, Anastatia Mayers, Beth Moses, Richard Branson, Elon Musk, OceanGate Organizations: Virgin, Service, New Mexico's, Sky News, Virgin Galactic, BBC, University of Aberdeen, Italian Air Force, National Research Council of Italy, VSS Unity, Galactic's, Galactic Locations: Wall, Silicon, New, America, Munich, nought, Antigua, London, Caribbean, Scotland, New Mexico

☆ Trump blames Megan Rapinoe and wokeness for US Women’s World Cup exit
▼ + stars: | 2023-08-08 | by ( Tara Subramaniam | ) edition.cnn.com time to read: +4 min

While the soccer star was not the only US player to do so, she has a contentious history with the former president. In a speech introducing the star soccer player, the president praised Rapinoe’s role in securing equal pay for the US women’s soccer team and her advocacy for LGBTQ+ rights. “For nearly 40 years, the US Women’s National Soccer Team has epitomized what it means to be a champion. Biden and his wife have also repeatedly championed this Women’s World Cup team and were among several big names who helped announce the lineup back in June. As the World Cup got underway, the Bidens placed a billboard on the White House North Lawn cheering on the team.

Persons: Donald Trump, Megan Rapinoe, “, Joe Biden, ” Trump, Crooked Joe Biden, Megan, MAGA, ”, “ I’m, Megyn Kelly, Kelly, Rapinoe, it’s, Trump, ” Rapinoe, Colin Kaepernick’s, Sue Bird, Biden, Rapinoe’s, Jill Biden Organizations: Sydney CNN —, US women’s, U.S, Women’s Soccer Team, Fox News, CNN, WIN, ESPN, US, National Soccer Team, ”, White, Lawn Locations: Sweden, America, USA, United States

☆ Virgin Galactic banks $2 million in quarterly revenue after first commercial spaceflight
▼ + stars: | 2023-08-01 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Virgin Galactic flew two spaceflights during the second quarter: Its final test spaceflight and its first commercial spaceflight, the latter a long-awaited step to bring its service to market. It expects to fly its second commercial spaceflight on Aug. 10. Virgin Galactic stock slipped about 3% in after-hours trading from its close at $4.14 a share. Virgin Galactic had cash and securities totaling $980 million at the end of the quarter, up from about $874 million at the end of the first quarter. That increase came as Virgin Galactic brought in funds through "at the market" sales of common stock.

Persons: Michael Colglazier Organizations: Virgin Galactic, America, VSS Unity, Galactic Locations: New Mexico, U.S

Virgin Galactic leases part of the facility. The flight marked a long-delayed breakthrough for Virgin Galactic Holding Inc (SPCE.N), finally inaugurating commercial service after nearly 20 years fraught by development setbacks. Virgin Galactic said Unity topped out its flight at an altitude of nearly 52.9 miles (85.1 km). A final crewed test flight to space was conducted with little fanfare five weeks ago. An earlier prototype of the Virgin Galactic rocket plane crashed during a test flight over California's Mojave Desert in 2014, killing one pilot and seriously injuring another.

Persons: Richard Branson, Joe, Branson, Burt Rutan, Jeff Bezos's, Elon Musk's, Walter Villadei, Angelo Landolfi, Pantaleone, Colin Bennett, Michael Masucci, Nicola Pecile, Bezos, Shepard rocketship, Jose Luis Gonzalez, Steve Gorman, Will Dunham, Nick Zieminski Organizations: Virgin, REUTERS, Virgin Galactic, National Research Council, VSS Unity, America, Galactic, Virgin Galactic Holding Inc, . Virgin, Elon Musk's SpaceX, Italian Air Force, International Space, Air Force, Unity, NASA, U.S . Air Force, Thomson Locations: New Mexico, U.S, Italy, Mexico, Italian, Los Angeles

The flight marks a decisive moment for Virgin Galactic Holding Inc (SPCE.N), the space tourism venture founded by British billionaire Richard Branson in 2004, as it inaugurates commercial service following several years fraught with development setbacks. Rounding out the crew was their Virgin Galactic trainer, Colin Bennett, the company's lead "astronaut instructor," and Unity's two pilots, Michael Masucci and Nicola Pecile. A final crewed test flight to space was conducted with little fanfare five weeks ago. Virgin Galactic has said it has already booked a backlog of some 800 customers, charging from $250,000 to $450,000 per seat, and envisions eventually building a large enough fleet to accommodate 400 flights annually. An earlier prototype of the Virgin Galactic rocket plane crashed during a test flight over California's Mojave Desert in 2014, killing one pilot and seriously injuring another.

Persons: Richard Branson, Jeff Bezos's, Elon Musk's, Walter Villadei, Angelo Landolfi, Pantaleone, Colin Bennett, Michael Masucci, Nicola Pecile, Branson, Bezos, Shepard rocketship, Jose Luis Gonzalez, Steve Gorman, Will Dunham Organizations: Virgin Galactic, National Research Council, Italy, Virgin Galactic Holding Inc, Virgin, Elon Musk's SpaceX, Italian Air Force, VSS Unity, International Space, Air Force, America, Unity, NASA, U.S . Air Force, Thomson Locations: New Mexico, Italy, British, Italian, Los Angeles

☆ Live updates: Virgin Galactic completes first commercial spaceflight
▼ + stars: | 2023-06-29 | by ( Michael Sheetz | ) www.cnbc.com time to read: +1 min

People react as the passenger rocket plane operated by Virgin Galactic takes off, during the company's first commercial flight to the edge of space, at the Spaceport America facility, in Truth or Consequences, New Mexico, U.S., June 29, 2023. Space tourism company Virgin Galactic , founded by Sir Richard Branson in 2004, completed its long-awaited first commercial spaceflight, called "Galactic 01," on Thursday. The three paying passengers are members of the Italian Air Force. Virgin Galactic's start to commercial service comes after years of delays and setbacks. Virgin Galactic has a backlog of about 800 passengers.

Persons: Sir Richard Branson, Virgin Galactic's Organizations: Virgin Galactic, America, Space, Italian Air Force, Virgin, VSS Unity Locations: New Mexico, U.S

Virgin Galactic leases part of the facility. The flight marked a long-delayed breakthrough for Virgin Galactic Holding Inc (SPCE.N), finally inaugurating commercial service after nearly 20 years of fraught by development setbacks. Rounding out the crew was their Virgin Galactic trainer, Colin Bennett, the company's lead "astronaut instructor," and Unity's two pilots, Michael Masucci and Nicola Pecile. Virgin Galactic said Unity topped out its flight at an altitude of nearly 52.9 miles (85.1 km). An earlier prototype of the Virgin Galactic rocket plane crashed during a test flight over California's Mojave Desert in 2014, killing one pilot and seriously injuring another.

The flight, dubbed Galactic 01, comes two years after Branson himself rode along with five other Virgin Galactic Holdings Inc (SPCE.N) personnel for the company's first fully crewed test spaceflight of its rocket plane, VSS Unity. Back then, Virgin Galactic officials said they expected to begin regular commercial operations in 2022 following additional test flights. Virgin Galactic had projected booking its first 1,000 paying customers, charging about $250,000 per seat, by the time commercial service opened. An earlier prototype of Virgin Galactic's rocket plane crashed during a test flight over California's Mojave Desert in 2014, killing one pilot and seriously injuring another. Billionaire rival Jeff Bezos, whose astro-tourist venture Blue Origin has already flown several commercial passenger flights, has disparaged Virgin Galactic as falling short of a true spaceflight experience.

Persons: Richard Branson, Joe Skipper, Branson, Walter Villadei, Angelo Landolfi, Pantaleone, Colin Bennett, Michael Masucci, Nicola Pecile, Branson's, Jeff Bezos, Virgin, Shepard rocketship, Jose Luis Gonzalez, Steve Gorman, Will Dunham Organizations: Virgin, Unity, REUTERS, Virgin Galactic, National Research Council, Virgin Galactic Holdings Inc, VSS, Galactic, SpaceX, Origin, Italian Air Force, International Space, Air Force, . Air Force, America, Corporate, NASA, U.S . Air Force, Thomson Locations: New Mexico, U.S, Italy, Mexico, Italian, Branson, Bezos, Los Angeles

☆ Virgin Galactic launches high-stakes flight carrying passengers to the edge of space
▼ + stars: | 2023-05-25 | by ( Jackie Wattles | ) edition.cnn.com time to read: +7 min

The space plane is designed to then detach from the mothership, fire its rocket engine and swoop straight up with its two pilots at the controls. Virgin Galactic confirmed just before 12:30 p.m. The space plane then coasted back to a landing back at New Mexico’s Spaceport America. The SpaceShipOne technology was parlayed into a larger space plane design, called SpaceShipTwo, which Virgin Galactic still flies today. Virgin Orbit, a sister company to Virgin Galactic that is focused on launching satellites to space on a small rocket, filed for bankruptcy in April.

☆ Virgin Galactic completes Unity 25 spaceflight in key final test before commercial service
▼ + stars: | 2023-05-25 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +5 min

Virgin Galactic did not publicly livestream the flight unlike the previous one that carried founder Sir Richard Branson in July 2021. ET, carrying the company's VSS Unity spacecraft up to an altitude of about 40,000 feet. Virgin Galactic previously said it aims to fly its first commercial mission in "late June," assuming a successful test flight on Thursday. Virgin GalacticUnity 25 represents a crucial moment in the history of Virgin Galactic, which has suffered repeated setbacks and years of delays in developing its spaceflight system. Virgin Galactic has yet to generate meaningful revenue, and needs to be flying spaceflights regularly in order to do so.

☆ Virgin Galactic targets May 25 for first spaceflight since Richard Branson's trip
▼ + stars: | 2023-05-17 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Virgin Galactic is targeting as early as May 25 for the launch of its next spaceflight, which marks both its first in nearly two years since flying founder Sir Richard Branson and its planned last step before beginning commercial service. Called Unity 25, the mission represents the company's fifth spaceflight to date, launching out of Spaceport America in New Mexico. It is a "final assessment" flight, with six Virgin Galactic employees onboard for a short trip to the edge of space. In-house pilots Mike Masucci and CJ Sturckow will fly spacecraft VSS Unity, while Jameel Janjua and Nicola Pecile will fly carrier aircraft VMS Eve. Depending on the outcome and data gathered from Unity 25, the company aims to fly its first commercial mission in "late June."

☆ Virgin Galactic quarterly loss widens while company preps for spaceflight return
▼ + stars: | 2023-05-09 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Virgin Galactic is aiming to fly its first spaceflight in nearly two years later this month, but the company's first quarter loss widened dramatically as it funds its fleet growth. Virgin Galactic cited "increases in research and development expenses," in a press release. It paused launches for a lengthy refurbishment period of its vehicles, with Virgin Galactic aiming to fly its first commercial mission in "late June." The space tourism company reported an adjusted EBITDA loss of $140 million, compared with a $77 million loss in the same period a year ago. Shares of Virgin Galactic stock slipped more than 1% in after-hours trading, from its close at $4.09 a share.

☆ Quotes: Fed plans broad revamp of bank oversight in wake of SVB collapse
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +11 min

The assertion in the introduction that the Fed should focus on large bank capital requirements is disconnected from the report's conclusions. AMERICAN BANK ASSOCIATION PRESIDENT AND CEO ROB NICOLS"We take any bank failure seriously, and we will review the findings and proposed policy changes in these reports carefully, including where the conclusions may differ. JONATHAN MONDILLO, HEAD OF NORTH AMERICAN FIXED INCOME AT ABRDN"We're likely to see higher capital requirements. What that means for the overall markets is that the devil is in the details: how stringent those capital requirements will be. A potential First Republic Bank failure could similarly present a risk to the long-term investment strategy of high net-worth individuals."

☆ Biden slams McCarthy, tells him to 'take default off the table' in debt ceiling fight
▼ + stars: | 2023-04-19 | by ( Emma Kinery | ) www.cnbc.com time to read: +4 min

President Joe Biden on Wednesday slammed House Republicans for flirting with defaulting on the national debt, saying America is not "a deadbeat nation." Biden called the gambit by House Speaker Kevin McCarthy, R-Calif., "really dangerous." "Reagan said debt ceiling brinkmanship threatens the holders of government bonds and those who rely on Social Security and veterans' benefits. We meet our obligations, and I made it clear to Speaker McCarthy how we should proceed to settle our differences." Biden released his budget proposal last month and has asked House Republicans to do so as well.

☆ Banking crisis won’t hurt America’s credit rating unless stress intensifies, Moody’s says
▼ + stars: | 2023-03-30 | by ( Matt Egan | ) edition.cnn.com time to read: +1 min

New York CNN —The banking crisis that caused US officials to launch emergency interventions is unlikely to have significant direct costs for the federal government, according to Moody’s Investors Service. The credit ratings firm said late Wednesday that at this stage, the biggest bank failures since 2008 are not expected to meaningfully hurt America’s credit profile. “In particular, we do not expect significant direct fiscal costs” from the current banking sector stress, Moody’s wrote in a report. However, Moody’s warned that an intensification of the banking crisis could be problematic. “A scenario of severe and prolonged stress, which is not our current baseline, could weaken economic and fiscal strength,” Moody’s said.

Search resuls for: "RT America"

25 mentions found