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[1/3] The logo of the International Atomic Energy Agency (IAEA) is seen at the organisation's headquarters in Vienna, Austria, June 5, 2023. Iran's stock of uranium enriched to up to 60% grew by 6.7 kg (14.8 pounds) to 128.3 kg (282.9 pounds) since the last report on Sept. 4, one of the two reports to member states seen by Reuters said. Iran has enough uranium enriched to lower levels for more bombs, but it denies seeking such weapons. Since then the IAEA has narrowed the list of sites to two but little other progress has been made. "The (IAEA) Director General (Grossi) continues to strongly condemn Iran's sudden withdrawal of the designations of several experienced Agency inspectors," it added.
Persons: Leonhard Foeger, Rafael Grossi, John Irish, Toby Chopra, Jonathan Oatis Organizations: International Atomic Energy Agency, REUTERS, Companies Iran, IAEA, International Atomic Energy, Reuters, Governors, Iran's, Thomson Locations: Vienna, Austria, Iran, VIENNA, United States, Gaza, Paris
A graphic shows all demonstrations in the ACLED data clustered by whether they were pro-Palestinian, pro-Israel or neutral. Pro-Palestinian make up 3,761 demonstrations; pro-Israel, 529 demonstrations; and neutral, 95 demonstrations. Note: Analysis includes peaceful protests, protests with intervention, protests with excessive force used against protesters and violent demonstrations as categorised by ACLED. In Berlin, ACLED reported hundreds of demonstrators were arrested during multiple protests during October, as pro-Palestinian protestors clashed with police. There are many pro-Israel demonstrations as well as pro-Palestinian demonstrations.
Persons: Israel —, ACLED, Gazans Organizations: Israel, Al, Arabi, Palestinian, Palestine, , U.S Locations: Israel, Gaza, London, Berlin, Paris, Ankara, Istanbul, Washington, Israel’s, Palestinian, Ahli, Gaza City, East, North Africa, West, Yemen, Iran, Turkey, Morocco, Europe, United States
Traders work on the floor of the New York Stock exchange during morning trading on November 10, 2023 in New York City. U.S. stock futures inched down Sunday night after Moody's Investors Service lowered its U.S. credit rating outlook to negative from stable. Moody's on Friday underscored the U.S.' "very large" fiscal deficits and partisan gridlock in Washington as contributing factors for the downgrade. The ratings agency reaffirmed America's credit rating at AAA, the highest level. The S&P 500 rose 1.3% the previous week, while the Dow and Nasdaq gained about 0.7% and 2.4%, respectively.
Persons: Moody's, Fitch, Jay Hatfield, That's, Lisa Cook Organizations: New York Stock, Moody's Investors Service, Dow Jones Industrial, Nasdaq, AAA, U.S, Infrastructure Capital Management, Federal Reserve Bank of New, Dow Locations: New York City . U.S, Washington, Hatfield
The White House sought to pin blame for the outlook change, which cited the high deficit and rising interest rates, on Republicans. "Moody's decision to change the U.S. outlook is yet another consequence of congressional Republican extremism and dysfunction," White House spokesperson Karine Jean-Pierre said. House Republicans hope to vote on Tuesday on a stopgap measure, which could extend discretionary funding for federal agencies into mid-January. Representative Chip Roy, a prominent member of the hardline House Freedom Caucus, said he could accept a stopgap measure that also contains aid to Israel in its war with Hamas. McCarthy opted for the bipartisan route after hardliners blocked a Republican stopgap measure with features intended to appease the party's far right.
Persons: Mike Johnson, Sarah Silbiger, Moody's, Andy Harris, Karine Jean, Pierre, Joe Biden, Tom Cole, Cole, Johnson, Chip Roy, Roy, Biden, Johnson's, Kevin McCarthy, McCarthy, David Morgan, Scott Malone, Daniel Wallis Organizations: U.S, Capitol, REUTERS, Rights, . House, Republicans, AAA, Republican, White, Democratic, Caucus, Texas Republican, Social Security, Thomson Locations: Washington , U.S, U.S, Mexico, Washington, Israel, Ukraine
The White House is seen at dusk on September 30, 2023 in Washington, DC. Moody's Investors Service on Friday lowered its ratings outlook on the United States' government to negative from stable, pointing to rising risks to the nation's fiscal strength. The ratings agency has affirmed the long-term issuer and senior unsecured ratings of the U.S. at Aaa. Moody's move to cut its outlook arrives as Congress faces the looming threat of a government shutdown once more. "Moody's decision to change the U.S. outlook is yet another consequence of Congressional Republican extremism and dysfunction," White House press secretary Karine Jean-Pierre said in a statement.
Persons: Moody's, Wally Adeyemo, Mike Johnson, Karine Jean, Pierre, Fitch Organizations: Moody's, Aaa, United States, Republican, White, Democratic, AAA Locations: Washington ,, United States, Washington, United, American, Jan, U.S
New York CNN —Hollywood actors have reached a tentative agreement with the major film and television studios to end their historic strike, the actors union announced Wednesday. While the writers’ strike was resolved in September, production has remained shuttered as the actors continued to strike and negotiate their contract. But the actors’ contract negotiations didn’t last long, breaking down on Oct. 11 before returning later in the month. By the end of October, it appeared the actors’ strike was approaching its final scene. But Hollywood actors have not appeared on their shows to promote their movies during the actors strike.
Persons: Fran Drescher, , ” Drescher, , , we’ve, AMPTP, Angeles Mayor Karen Bass, ” Bass, George Clooney, Tyler Perry, AFTRA, “ We’re, WGA’s, Jimmy Kimmel, Jimmy Fallon, Stephen Colbert, John Oliver, Seth Meyers – Organizations: New, New York CNN, Hollywood, Alliance, Television Producers, SAG, Writers Guild of America, didn’t, CNN, Angeles Mayor, Writers Guild, WGA Locations: New York, Los Angeles,
High bond yields challenge “Pax Americana”
  + stars: | 2023-11-06 | by ( Hugo Dixon | ) www.reuters.com   time to read: +7 min
There are also many reasons why “Pax Americana” – the period of U.S. dominance since World War Two - is under stress. The combination of high bond yields with a large fiscal deficit and rising sovereign debt is making it harder for politicians to govern the country. If anything, they may have a tougher job to make their fiscal maths add up than the United States because their growth prospects are not as rosy. What’s more, the near-record yield gap with the United States is bringing its own headaches by putting downward pressure on the yuan. These are consolations for the United States as it grapples with the geopolitical consequences of high interest rates.
Persons: Joe Biden, Kevin Lamarque, Joe Biden’s, doesn’t, Liz Truss, haven’t, Paul Tucker, , Fitch, Peter Thal Larsen, Thomas Shum Organizations: Air Force, Joint Base Andrews, REUTERS, Reuters, Federal Reserve, International Monetary Fund, Bank of England, AAA, AA, United, Bank for International, Initiative, Thomson Locations: Lewiston , Maine, Joint Base Andrews , Maryland, U.S, Israel, Ukraine, China, United States, Europe, Asia, Russia, Britain, Washington, Republic
But the actors' talks were tepid, with days off between sessions and no reports of progress. WHAT HAPPENS NEXT IN THE ACTORS STRIKE? Their 42-day work stoppage began and ended all within the span of the much longer writers strike. Other segments of the actors union have gone on strike too, including several long standoffs over the TV commercials contract. That segment of the union could strike again soon if a new contract deal isn't reached.
Persons: , Fran Drescher, I’ve, Ted Sarandos, ” Sarandos, ” Duncan Crabtree, Crabtree, , ” Drescher, that’s, AFTRA, Ronald Reagan, Tony Curtis, Janet Leigh, Jamie Lee Curtis, Bob Hope, , Powers Boothe, isn't, Martin Scorsese, Leonardo DiCaprio hasn't Organizations: ANGELES, Screen, American Federation of Television, Radio Artists, SAG, Associated Press, Netflix, Actors, U.S, Union, The Television Academy Locations: Ireland, Crabtree, hollywood
Israeli assets and the shekel remain under pressure and oil and gold prices are marginally higher than last week. World Markets Impact From MidEast Attacks WanesBlackRock chart on its Geopolitical Risk IndicatorNOWHERE TO RUN TO... Last updated shortly before the weekend events in Israel, BlackRock's Geopolitical Risk Indicator - which attempts to capture market attention to political risks - had indeed crept up to six month highs. Releasing its World Economic Outlook on Tuesday, the International Monetary Fund warned that more volatile commodity prices were a possible reflection of both greater climate and geopolitical risk. And yet hand wringing about geopolitical risk in different corners of the globe can also deflect from rising political risks in core economies - not the least in the United States.
Persons: Brendan McDermid, Vincent Mortier, Anna Rosenberg, Kristina Hooper reckons, Hooper, that's, It's, Amundi's Rosenberg, Pierre, Olivier Gourinchas, Gourinchas, Josie Kao Organizations: New York Stock Exchange, REUTERS, West Bank, International Monetary Fund, IMF, Treasury, Reuters, Thomson Locations: New York City, U.S, Israel, Gaza, Iran, United States, Saudi Arabia, Russia, China, Taiwan, Ukraine
Next EU chief will need cash more than trade wars
  + stars: | 2023-10-10 | by ( Rebecca Christie | ) www.reuters.com   time to read: +8 min
What she sidestepped was how to find more cash and convince member states to pay up. Von der Leyen, or her successor, will have to figure out how to pay for enlargement. Von der Leyen tapped into trade frustrations with her pledge to investigate and possibly punish Chinese subsidies for car and battery makers. During her first term, von der Leyen succeeded in connecting the EU with bond investors via the 800 billion euro NextGenerationEU borrowing programme. A second term will require even more finesse to convince EU member states to raise money not just from markets, but from themselves.
Persons: Ursula von der, European Union won’t, der, von der Leyen’s, Greens –, der Leyen, Emmanuel Macron, Thierry Breton, Norway’s Jens Stoltenberg, Von der, Carlo Bastasin, Von der Leyen, von der Leyen, sceptics, Ursula von der Leyen, Charles Michel’s, Jens Stoltenberg’s, Francesco Guerrera, Streisand Neto, Thomas Shum Organizations: Reuters, European Union, Bank, EU, European Commission, Socialists, Greens, NATO, Reuters Graphics Reuters, Brookings, handouts, Organisation for Economic Co, Transport, Environment, Thomson Locations: BRUSSELS, Ukraine, Moldova, Western, Brussels, Germany, Bosnia, Herzegovina, Montenegro, Serbia, Albania, North Macedonia, Kosovo, Turkey, Georgia, Spain, Poland, United States, China, Ireland, Netherlands, EU, EU’s, Hungary
"I'm very, very lucky because I wouldn't have had the courage to go and do that acquisition, but I give all the credit in the world to Dave Clark," Petersen said. "There's a perfect complement of skill sets," Petersen told Forbes in June 2022. Petersen told Clark he should engage with Shopify's team, according to a person with direct knowledge of the negotiations. Clark, Petersen and Wagers met in Texas in mid-August to fine-tune the forecasts. Flexport told CNBC that an employee's politics are not relevant in personnel decisions.
Persons: Dave Clark, Ryan Petersen, he'd, Petersen, Clark, excoriated Clark, we've, Clark wasn't, Jeff Bezos, It's, Flexport, Clark overspent, Flexport's, He'd, Sanne Manders, Dave, Shopify, Tobias Lutke, Lutke, Shopify's, glanced, didn't, Fund's Trae Stephens, Michael Ronen, SoftBank, Andreessen Horowitz, Bob Swan, Samyukta Lakshmi, Kenny, Stuart Leung, pare, Leung, , Lindsey Wasson, Clark's, Stephens, Peter Thiel, Trump's, Petersen's, Sen, Joe Manchin, Chris Ferro, Ferro, Parisa Sadrzadeh, couldn't, Amazon, Sadrzadeh, Burak Yolga, Yolga, Nelly Organizations: North, Amazon, Twitter, CNBC, UPS, FedEx, Milken Institute Global Conference, Bloomberg, Getty, Forbes, Deliverr, Shopify's, Anduril Industries, Intel, Intel Corp, U.S ., Clark, Republican, Founders Fund, Democratic, Street Journal, Flexport Locations: Phoenix, Silicon, Clark, Beverly Hills , California, U.S, Flexport, Deliverr, Miami, Flexport's Bellevue , Washington, Bengaluru, India, Flexport's, Asia, U.S . West Coast, Texas, Ohio, Arizona, Thiel's, West Virginia, Seattle, integrations
Newt Gingrich recently told Politico of the difference between the '90s-era House GOP and today's slim majority. The ex-speaker said he could "afford to have five or six people be idiots" in the face of a shutdown. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementAfter the 1994 elections, House Republicans secured a 230-seat majority, and they won 226 seats after the 1996 elections. During the Clinton administration, Gingrich told Politico that he could "afford to have five or six people be idiots."
Persons: Newt Gingrich, Kevin McCarthy, , Dianne Feinstein, Kevin McCarthy of, shutdowns, Bill Clinton, Gingrich, Clinton, Darrell Issa of Organizations: Politico, GOP, Service, Senate, California, House, Republicans, Ukraine, Russia, Capitol Hill, Republican Locations: Kevin McCarthy of California, Georgia, Darrell Issa of California
Over the past two decades, China has occupied a number of obscure reefs and atolls far from its shoreline across the South China Sea, building up military installations, including runways and ports. Video Ad Feedback Why it matters who owns the seas (April 2021) 03:48 - Source: CNNWhy does the South China Sea matter? The South China Sea is home to hundreds of largely uninhabited islands and coral atolls and diverse wildlife at risk from climate change and marine pollution. The US is not a claimant to the South China Sea, but says the waters are crucial to its national interest of guaranteeing freedom of the seas worldwide. Marcos has strengthened US relations that had frayed under his predecessor, with the two allies touting potential future joint patrols in the South China Sea.
Persons: It’s, China’s, Defense Lindsey Ford, , Stringer, Ferdinand “ Bongbong ” Marcos Jr, Jay Batongbacal, , Marcos Jr, Rodrigo Duterte, Marcos, Gregory Poling Organizations: Hong Kong CNN —, Navy, CNN, US Energy Information Agency, Communist Party, United, US Navy, Defense, Asia, Washington -, Strategic, International Studies, Ford, Spratly Islands, University of the, Philippine Coast Guard, China’s Ministry of Foreign Affairs, Transparency, Philippines Mutual Defense Locations: Hong Kong, South China, China, Beijing, Philippines, United States, South, The Philippines, Malaysia, Vietnam, Brunei, Taiwan, The Hague, Manila, Scarborough, Spratly, People’s Republic of China, Washington, Philippine, University of the Philippines, Asia
HANGZHOU, China (AP) — A month before the Asian Games, China released a new national map, doubling down on its claims to almost the entire South China Sea and disputed border territories with India. At the games themselves, however, outward aggression has taken a backseat to unctuous charm as China sought to win the hearts of more than 40 Asian nations and regions by dazzling them with technology and slathering them with praise. “The Asian Games embodies the Asian people’s shared desire for peace, unity and inclusiveness,” Xi told them, according to his prepared remarks. Signs around Hangzhou billed the city as a “paradise on earth” while China adopted the motto “heart to heart” for the Asian Games, which feature some 12,000 competitors - more than the summer Olympics - from across Asia and the Middle East. “This will undoubtedly open new prospects for cultural exchanges, cultural integration and people-to-people bonds in Asia,” the Chinese Communist Party’s official People’s Daily wrote Monday in an effusive editorial about the Hangzhou games.
Persons: Xi Jinping, ” Xi, “ Xi, , Xi, Wang Wenbin, Organizations: Games, South China, Asian Games, Communist, Daily, Foreign Ministry, U.S Locations: HANGZHOU, China, India, Taiwan, Beijing, Hangzhou, South, Indonesia, Vietnam, Malaysia, Brunei, Philippines, Taipei, Asia, Fujian Province, Philippine, South China, Washington, , Pacific
Hollywood’s brief thaw belies a long winter
  + stars: | 2023-09-25 | by ( Jennifer Saba | ) www.reuters.com   time to read: +4 min
The union representing movie and TV writers tentatively agreed to a new contract on Sunday, setting the stage to end a five-month impasse. Content production is back on the budget line for streaming services. They too want to share in the spoils of a successful movie or TV series on streaming services. Charter now doesn’t have to carry eight Disney networks including FXX and Disney Junior, while Disney also is giving Charter’s customers access to its ad-supported streaming services for no additional charge. The brief thaw belies a long winter.
Persons: Fran Drescher, Duncan Crabtree, Walt Disney, Bob Iger, Ted Sarandos, David Zaslav, Donna Langley, , Lauren Silva Laughlin, Aditya Sriwatsav Organizations: SAG, Writers Guild of America, Hollywood, Netflix, Reuters, Guild of America, Walt, Warner Bros Discovery, NBC Universal, Charter Communications, Disney, Disney Junior, WWE, Paramount Global, Paramount, Alliance, Producers, WGA, Thomson Locations: Los Angeles , California, U.S
Saudi Arabia's crown prince is shaking up his economy in a move escalating its UAE rivalry. In March, Saudi Arabia unveiled Riyadh Air , a new airline serving as an alternative to the UAE's Emirates and Etihad Airways. If you want to do business with Saudi Arabia or Saudi state-owned entities, you've got to base your regional HQ in Saudi Arabia." "Saudi Arabia sees the separation project in Yemen as a way to let the Houthis control the north and therefore have a more-threatening border at the south of Saudi Arabia." Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERSHow far the rivalry between the two nations goes largely depends on Saudi Arabia's actions.
Persons: Saudi Arabia's, Mohammed bin Salman, Sheikh Mohamed bin Zayed Al Nahyan, MBZ, Obama, You've, Kristian Ulrichsen, Rice, Sheikh Mohamed, Prince Mohammed, Sheikh Mohamed —, , Leon Neal, Shaybah, Ulrichsen, Sheikh Zayed, Sultan Al Nahyan, Abu, Prince Mohammed bin Salman, Neom, Abishur Prakash, Jorg Greuel, Abdullah Alaoudh, Prakash, you've, Saudi Crown Prince Mohammed, Ludovic Marin, Mohammed's, Jamal Khashoggi, Biden, Baker Institute's Ulrichsen, Alaoudh, wouldn't Organizations: United Arab Emirates, UAE, Service, Baker Institute, Saudi, UAE —, Qatar, Dubai, United, Freedom Initiative, UAE's Emirates, Etihad Airways, Saudi Public Investment Fund, Newcastle United FC, English Premier League, Manchester City, Saudi Crown, Getty, Ritz Carlton, Saudi Royal Court, REUTERS, Saudi Aramco, United Nations Locations: Saudi, Wall, Silicon, Saudi Arabia, East, Washington, London, UAE, Persian, Al Ain, British, Qatar, Abu Dhabi, United Arab, Riyadh, Manchester City . Saudi Arabia, New Delhi, Istanbul, Yemen, Iran, Saudi Arabia's, Bandar, Ukraine
LOS ANGELES (AP) — Public support for striking Hollywood actors and writers is broad, but not necessarily deep enough for most people to change their viewing habits, a new poll finds. Half of Americans (50%) approve of writers and actors striking, while 40% are neutral on the topic, and 9% disapprove. About six in 10 Americans have heard “a lot” or “some” about the labor strikes of writers and actors against Hollywood studios. Overall sympathy toward the writers and actors runs much more strongly among Democrats (70%), than Independents (47%) and Republicans (39%). Alternatively, only 10% say it would be good for studios to use AI to help write movies and TV shows.
Persons: , , James Denton, ___, ___ Sanders Organizations: ANGELES, , Associated Press, NORC, for Public Affairs Research, Hollywood, Republicans, Guild of America, American Federation of Radio, Television Artists Locations: James Denton of Louisville , Kentucky, Denton, U.S, Washington ,
After all, the United States does not do deals with its well-meaning friends to free hostages or wrongly detained Americans. There is no perfect deal to free imprisoned Americans and the agreement with Iran is especially divisive. In this way dealing with US enemies can be a sign of political strength rather than weakness. Criticism from the likes of former President Donald Trump and Pence is politicized in the context of their presidential campaigns – and ignores their own deals to free Americans. Moscow is subsequently currently driving a relentless bargain over the fate of imprisoned Americans Paul Whelan and Wall Street Journal reporter Evan Gershkovich.
Persons: Joe Biden’s, Mike Pence, Donald Trump, Pence, , Trump, Wang, Kim Jong, Trump’s, Biden, Mike McCaul, Viktor Bout, Brittney Griner, Paul Whelan, Evan Gershkovich, , Barack Obama, Ronald Reagan, foments, Neda Sharghi, Emad Sharghi, , Paul Whelan’s, Morad, Namazi – Organizations: CNN, Washington, Biden, Trump, Texas, House Foreign Affairs, Wall Street, White, GOP, US Treasury Department Locations: Iran, United States, Russia, Venezuela, Qatar, China, North Korea, Tehran, Moscow
Greece and Turkey both plan to roll out new stealth jets by the end of the decade. Greece is acquiring F-35s from the US, while Turkey is building the domestically designed TF Kaan. The TF KAAN at its presentation ceremony in Ankara on May 1. AdvertisementAdvertisementBohl said several factors could hinder timely production of the TF Kaan, including fiscal considerations, national spending priorities, and Ankara's foreign partnerships. Stealth jets over the AegeanAn F-16 with Greece's Zeus solo display team at an airshow in Pireus in November 2016.
Persons: Dhruv Gopinath, Pratt, Whitney, Ryan Bohl, RANE, Yavuz Ozden, Bohl, George Tzogopoulos, Tzogopoulos, Greece's, George Panagakis, Cuneyt Organizations: NATO, Service, US Air Force, Souda Air Base, Tech, Turkish Aerospace Industries, GE, East, TF, Hellenic Air Force, Turkish, BAE Systems, Stealth, Pacific Press, Getty, NATO Air Policing, Anadolu Agency, Ankara Locations: Greece, Turkey, Wall, Silicon, Dhruv Gopinath Athens, Ankara, North Africa, Turkish, Crete, Azerbaijan, Pakistan, Pireus, Athens, Malbork, Poland
Where in the World Are People Back in the Office?
  + stars: | 2023-09-04 | by ( ) www.nytimes.com   time to read: +2 min
In London, a politician wrote not-so-subtle notes to remote workers last year, hoping to persuade them to spend more time in the office: “Sorry you were out when I visited,” Jacob Rees-Mogg, then a government minister, recalled writing in messages left on the desks of Cabinet Office staff members who were working from home. When the coronavirus pandemic took hold in 2020, many industries across the world shifted to remote or hybrid work. It was an immense experiment that yielded different results for different cities — with long-term standoffs between executives and workers in some cases, and a sweeping return to the office in others. Whether a person is more likely to do work at a cubicle in a big office tower or on the living room couch now depends on where in the world those cubicles and couches are. Many Asian countries have lower levels of remote work than countries in Europe and North America.
Persons: ” Jacob Rees, Mogg, Jem Kim, videoconference, Autónomo, México Organizations: Sequoia, Stanford, Instituto, Ifo Institute Locations: London, Seoul, San Mateo, Calif, Europe, North America, Britain, Canada, United States
But the US itself poses the biggest threat to the buck's dominance, according to Benn Steil. Debt-ceiling standoffs and “growing weaponization” could undermine the currency, he said. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. "The biggest threat to the dollar's dominance comes not from competitive alternatives, but from the US government itself," Steil, who's the director of international economics for the Council on Foreign Relations, wrote. "Just as the overuse of antibiotics fuels antimicrobial resistance, excessive use of sanctions prompts targeted countries, as well as potential targets, to reduce their engagement with the US financial system," Steil wrote.
Persons: Benn Steil ., Benn Steil, Biden, Fitch, heightening, Vladimir Putin, that's, Elon Musk, Steil Organizations: Service, Project Syndicate, Council, Foreign Relations, International Monetary Fund, European Union Locations: China, Russia, Wall, Silicon, US, Ukraine
And with China's post-COVID recovery running into the ground and suffering a deepening real estate bust, western investment curbs throw more sand in the wheels. A question now is whether a retreat of western money from emerging markets at least partly explains both their recent underperformance and that of western government bonds, in which emerging central banks and sovereign funds are heavily invested. The picture has not been much better in aggregate emerging bond indices, even if they have done marginally better than developed world counterparts, and worries over emerging high-yield and property linked bonds are rising. Have global investors high-tailed it from emerging markets already? If western money grows more wary and is increasingly warned off China and other selective emerging investments, will there be a mutual pullback of official emerging money from western bond markets?
Persons: Aly, Joe Biden, Morgan, Biden, crumb, Mike Dolan, Richard Chang Organizations: REUTERS, U.S, U.S ., Bank of, Institute for International Finance, Treasury, Reuters, Twitter, Thomson Locations: Shanghai, Shenzhen, China, Ukraine, Washington, Russia, United States, Beijing, Moscow, Taiwan, Brazil, India, South Africa, Hong Kong, Saudi Arabia, South Korea
CNN —The US economy is resilient, but policymakers need to take the long view on the country’s fiscal challenges, three former Treasury secretaries told CNN’s Fareed Zakaria on Sunday. “But it’s in some ways a very important wake-up call.”The downgrade came after a last-minute bipartisan deal in June that suspended the US debt ceiling until early 2025. I strongly disagree with Fitch’s decision, and I believe it is entirely unwarranted,” Treasury Secretary Janet Yellen said Wednesday. Meanwhile, the Biden administration is preparing new rules that could restrict investment in certain sectors in China, according to reports. When asked about US-imposed tariffs on China, Paulson said “we are working to close markets at the same time that China is doing business with more and more of the world.”“China is a major, major competitor,” he added.
Persons: CNN’s Fareed Zakaria, ” “, , Henry Paulson, George W, Bush, Janet Yellen, Paulson, , ” Timothy Geithner, Geithner, , ” Robert Rubin, Bill Clinton, Zakaria, Biden, , Jennifer Hansler, Gan, Juliana Liu Organizations: CNN, Fitch, AAA, Treasury Department, Capitol, Poor’s Locations: United States, China
When Nikola Swann heard that Fitch Ratings had removed the United States from its list of risk-free borrowers this week, he felt a sense of satisfaction. More than a decade ago, Swann played a key role in a similar decision: He was Standard & Poor’s primary analyst for its sovereign credit rating on the United States when the agency became the first ever to downgrade the nation’s long-term credit rating amid a debt ceiling standoff in 2011. Bloomberg called the reasons for the downgrade “fundamentally political” in 2011, while others argued that it appropriately reflected a worsening debt crisis. Both a decade ago and this week, partisan politics were cited as one reason for the downgrade. S&P cited “the gulf between the political parties.” Fitch, which made the call two months after the United States narrowly avoided defaulting on its debt, cited “the repeated debt-limit political standoffs and last-minute resolutions.”
Persons: Nikola Swann, Fitch, , Swann, ” Fitch Organizations: Treasury Department, Bloomberg, & $ Locations: United States
Fitch told the U.S. Treasury about its ultimate decision about 24 hours ahead of the announcement. Fitch's recent talks with the Treasury did not include the actual downgrade decision, Francis said, because it had not yet been made by the agency's ratings committee. On Monday, Fitch's credit committee met, made a decision, and Treasury officials received the Fitch press release of the downgrade. "The timing of the committee was pure coincidence," Francis told Reuters on Friday, noting the date was set weeks ago. Debt ceiling votes have been "acrimonious for decades," one U.S. official complained, referring to a long history of standoffs.
Persons: Dylan Martinez WASHINGTON, Biden, Donald Trump, Harvard's Larry Summers, Jamie Dimon, Fitch, Joe Biden, Richard Francis, Fitch's, Francis, Mark Sobel, Sobel, Alexander Hamilton, David Lawder, Davide Barbuscia, Heather Timmons, Alistair Bell Organizations: Fitch, REUTERS, White House, Reuters, U.S . Treasury, Republicans, Congress, U.S, AAA, Treasury, Social Security, Capitol, Trump, longtime Treasury, Thomson Locations: Canary Wharf, London, Britain, U.S
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