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☆ Rishi Sunak’s plans to delay climate targets attacked, as UK government pushes anti-green drive
▼ + stars: | 2023-09-20 | by ( Rob Picheta | ) edition.cnn.com time to read: +7 min

In an attack on his own Conservative predecessors as prime minister, Sunak said: “You don’t reach net zero simply by wishing it. The Climate Change Committee, the government’s independent adviser on climate change, published a report in June that criticized the UK’s net zero plans and said there was not enough urgency to reach the country’s goals. Britain is legally required to have reached net zero – meaning the country would remove from the atmosphere at least as much planet-warming pollution as it emits – by 2050. Johnson’s comments led a chorus of concerns from within Sunak’s Conservative party at the plans, which were apparently hurriedly brought forward after Tuesday’s leaks to the media. British businesses also criticized Sunak’s plans on Wednesday.

Persons: Rishi Sunak, Sunak, ” Boris Johnson, ” Johnson, ”, Dan Kitwood, pushback Sunak, “ We’ve, ” Sunak, “, … I’ve, Alok Sharma, ” Sharma, Chris Skidmore, Rob Picheta, Mike Childs, Sunak’s, Lisa Brankin, Ed Matthew, ” “ Organizations: London CNN, United, Conservative, Labour, “, Sunak’s Conservative, BBC, PA Media, London's Labour, CNN, Ambition, UN, Ford, European Union Locations: Britain, United Kingdom, Glasgow, Sunak’s, London, Uxbridge, South Ruislip, New York, United States, China

I've had an emergency fund since I was in college, and it's saved me multiple times. At the time, my emergency fund wasn't much more than $300 itself, but that was enough to get me through. I still wanted to do what I could to support the household, however, and my emergency fund allowed me to help with those costs. Having an emergency fund in place allowed me to have a financial foundation to make everything else work. Having the emergency fund allowed me to make tough life choices without the fear of financial repercussions.

Persons: I've, it's Organizations: Service Locations: Wall, Silicon

LONDON (AP) — Prime Minister Rishi Sunak announced Wednesday that he’s delaying by five years a ban on new gas and diesel cars that had been due to take effect in 2030, watering down climate goals that he said imposed “unacceptable costs” on ordinary people. U.K. greenhouse gas emissions have fallen by 46% from 1990 levels, mainly because of the almost complete removal of coal from electricity generation. The government had pledged to reduce emissions by 68% of 1990 levels by 2030 and to reach net zero by 2050. Automakers, who have invested heavily in the switch to electric vehicles, expressed frustration at the government’s change of plan. Ford U.K. head Lisa Brankin said the company had invested 430 million pounds ($530 million) to build electric cars in Britain.

Persons: Rishi Sunak, Sunak, ”, Boris Johnson, backtrack, Prince William —, Will McCallum, Lisa Brankin, Richard Burge, Tara, Hargreaves Lansdown, Clee, Sadiq Khan, Alok Sharma, Peter Cox Organizations: —, Conservative Party, Former, United Nations General Assembly, Greenpeace, Ford, London Chamber of Commerce and Industry, Britain’s Conservatives, Labour, London’s Labour, BBC, Global Systems Institute, University of Exeter Locations: New York, Britain, London Uxbridge, Glasgow

Investors put a nearly 50-50 chance on the BoE keeping rates on hold on Thursday after 14 back-to-back increases stretching back to December 2021. Investors had been overwhelmingly expecting the BoE to raise interest rates for the 15th time in a row on Thursday, taking Bank Rate to 5.5% from 5.25%. "The inflation figures may not sway the Bank of England away from raising interest rates tomorrow," Yael Selfin, chief economist at KPMG UK, said. Britain's inflation rate remains high - topped only by Austria and Iceland among Western European countries in August. But core inflation - which strips out volatile food and energy prices - fell by more than the headline rate to 6.2% from 6.9% in July.

Persons: Hunt, BoE, Yael Selfin, Price, Rishi Sunak, Jeremy Hunt, William James, Hugh Lawson Organizations: Reuters, Bank of England, Sterling, U.S, Investors, National Statistics, KPMG, Labour Party, Thomson Locations: July's, British, Austria, Iceland, Western, Britain

☆ London stocks open higher on surprise CPI data
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. The exporter-heavy FTSE 100 (.FTSE) rose 0.6% by 0705 GMT, while the sterling weakened 0.4% against the U.S. dollar, hitting its lowest levels since May. Britain's annual consumer price inflation (CPI) unexpectedly fell to 6.7% last month from 6.8% in July, data showed, while economists polled by Reuters had forecast CPI would rise to 7.0%. M&G (MNG.L) gained 3.3% after the insurer posted a better- than-expected 31% rise in its first-half operating profit. Mid-cap stocks (.FTMC) soared 1.4%, boosted by a 3.8% rise in Dunelm Group Plc (DNLM.L) after the homeware retailer said it expected higher sales volumes to drive earnings in 2024.

Persons: Toby Melville, BoE, Siddarth, Rashmi Organizations: London Stock Exchange Group, City of, REUTERS, Bank of England, U.S ., Reuters, Dunelm, Thomson Locations: City, City of London, Britain, Bengaluru

☆ Acting president of Temple University in Philadelphia dies unexpectedly at 72
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

Sept 19 (Reuters) - The acting president of Temple University in Philadelphia, JoAnne Epps, fell ill on Tuesday while attending a memorial service on campus and died a short time later, the school said in a statement. Epps appeared to have "suffered a sudden episode" and was "promptly attended to by emergency medical" personnel at the scene, Dr. Daniel del Portal, chief clinical officer for the Temple University Health System, told an afternoon news conference. She was then taken to Temple Hospital, "where resuscitation efforts continued but were unfortunately unsuccessful," del Portal said. "Temple has been a part of my life for as long as I can remember," Epps said in a statement when she was appointed acting president in April. Reporting by Steve Gorman in Los Angeles and Kanishka Singh in Washington; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

Persons: JoAnne Epps, Epps, Charles Blockson, Daniel del, Jason Wingard, Steve Gorman, Kanishka Singh, Michael Perry Organizations: Temple University, Local, Temple University Health System, Temple Hospital, university's, Thomson Locations: Philadelphia, Los Angeles, Washington

LONDON (AP) — Prime Minister Rishi Sunak is preparing to water down some of Britain's environmental commitments on Wednesday, saying the country must fight climate change without penalizing workers and consumers. “For too many years, politicians in governments of all stripes have not been honest about costs and trade-offs," Sunak said. U.K. greenhouse gas emissions have fallen by 46% from 1990 levels, mainly because of the almost complete removal of coal from electricity generation. The government had pledged to reduce emissions by 68% of 1990 levels by 2030 and to reach net zero greenhouse gas emissions by 2050. Automakers, who have invested heavily in the switch to electric vehicles, expressed frustration at the government's apparent change of plan.

Persons: Rishi Sunak, Sunak, backtrack, Prince William —, Doug Parr, ”, Parr, Mike Hawes, Lisa Brankin, Tara, Hargreaves Lansdown, ” Copp, Sadiq Khan, “ We’re, Suella Braverman, Alok Sharma Organizations: —, Conservative Party, United Nations General Assembly, Greenpeace, Society of Motor Manufacturers, Traders, Ford, ” Britain's, Labour, London’s Labour, BBC Locations: Britain, New York, London Uxbridge, Glasgow

☆ People on the internet are split over Tokyo's standing sleeping pods: 'Why did Japan make this?'
▼ + stars: | 2023-09-19 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

A cafe in Tokyo offered standing sleeping pods for customers. The experience prompted mixed reviews from YouTubers and TikTok users using the pods. AdvertisementAdvertisementHis video has since received over 4 million views and depicts Colquhuon trying to get comfortable in a forest-themed sleeping pod. Another user, @JapanOnTikTok, shared his experience using the cafe's space-themed standing sleeping pod in a video published on August 23. AdvertisementAdvertisementThe cafe's promotion ended on Sunday, but the standing sleeping pods are set to be sold by their manufacturer, Giraffenap.

Persons: TikTok, YouTuber Connor Colquhoun, Colquhoun, SoraNews24, Insider's David McElhinney, Giraffenap Organizations: Service, New Locations: Tokyo, Japan, Wall, Silicon, New York

[1/2] Britain's Prime Minister Rishi Sunak speaks at a press conference on public sector pay at Downing Street in London, Britain on July 13, 2023. In a highly unusual late-night statement after reports that he was planning to row back on some of the government’s key green policies, Sunak said he would set out an "important long-term decision" about the country's plans to reach net zero. With a general election looming next year, Sunak sees scaling back some green policies as a way to win over swing voters "ahead of a general election expected next year." It would be a striking reversal for Britain which until recently was a self-proclaimed leader in climate policy. Sunak said successive governments "have not been honest about costs and trade offs" of going green policies.

Persons: Rishi Sunak, HENRY NICHOLLS, Sunak, Boris Johnson's, Michael Gove, Elizabeth Piper, William James, Farouq Suleiman, Andrew MacAskill, Paul Sandle, Timothy Gardner, Matthew Lewis Organizations: Britain's, Downing, British, BBC, Labour Party, Conservatives, Labour, Conservative, Thomson Locations: London, Britain

Student loan repayments restart in October after a three-year suspension during the COVID-19 pandemic. In isolation, none would likely shift policymakers' sense of the short-term risks or change their focus on quelling still-elevated inflation. By Goldman's estimate the economy would still be growing at a 1.3% annual rate at that point. But the amounts they see sliced from GDP are more than the 1% growth rate Fed officials expected the economy to muster as of June, and beyond many private forecasts as well. Some economists say the resumption of student loan repayments for tens of millions of borrowers may already be reshaping behavior.

Persons: Goldman Sachs, Vincent Reinhart, Reinhart, Michael Pearce, Ian Shepherdson, Kieran Clancy, They've, Howard Schneider, Dan Burns, Andrea Ricci Organizations: . Federal Reserve, United Auto Workers, Federal, Republicans, Reuters Graphics Reuters, Mellon, Reuters, Oxford Economics, Congressional, U.S . Department, Education, Thomson

☆ These 5 strategies can help you avoid surprise medical bills
▼ + stars: | 2023-09-18 | by ( Sponsor Post | Created Unitedhealthcare S Surest With Insider Studios | ) www.businessinsider.com time to read: +6 min

Other recent regulations require hospitals to post prices online, and while these efforts offer important protections for people, there are various other ways to help avoid an unexpected medical bill. To help avoid that, confirm with your health plan that any services or tests are covered under your benefits. Negotiate surprise billsIn the event of a surprise bill, there are several steps to pursue. No one wants a surprise medical bill. Learn more about how to avoid surprise medical bills at surest.com.

Persons: Donna O'Shea, — Organizations: Population Health, Insider Studios Locations: surest.com

☆ Bullock takes over at Australia central bank with soft landing in sight
▼ + stars: | 2023-09-17 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

[1/3] Incoming RBA Governor Michele Bullock delivers the Sir Leslie Melville Public Lecture at the Australian National University in Canberra, Australia, August 29, 2023 in this handout image. The Reserve Bank of Australia (RBA) has been on hold for three months after raising interest rates aggressively for more than a year. The tightening has slowed Australia's growth, but analysts think the economy could still achieve a soft landing. If Australia avoids recession and delivers a soft landing, history may judge outgoing Governor Philip Lowe more kindly. In the search to replace Bullock as deputy, Chalmers has indicated the government is looking at candidates inside and outside the central bank.

Persons: Michele Bullock, Leslie Melville, Tracey Nearmy, Bullock, it's, Cherelle Murphy, Philip Lowe, Lowe, Jim Chalmers, Chalmers, Stephen Halmarick, Stella Qiu, William Mallard Organizations: Australian National University, ANU, REUTERS, Rights, Reserve Bank of Australia, EY Oceania, Commonwealth Bank of Australia, Thomson Locations: Canberra, Australia, Handout, New Zealand, Germany, Europe's, COVID

☆ Stocks churn with the S&P 500 sitting at the same level it was two years ago
▼ + stars: | 2023-09-16 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The S & P 500 has held on to most of its first-half gains and has made a series of higher lows since mid-August. And while 2% is the central-banker ideal, equity markets historically are comfortable with inflation under 4% or so. The equal-weight S & P 500 is about where it was last Thanksgiving and small-cap indexes have been sideways and stuck for a year-and-a-half. Kolovos has been anticipating a "long and winding road to 4800" for the S & P 500, provided it doesn't crack support near 4300 before then. .SPX YTD mountain S & P 500 YTD Such a scenario would then certainly give rise to a vexing "Now what?"

Persons: –, Ron Adler, Morgan, Wall, It's, we've, Ned Davis, Worth, John Kolovos, Kolovos Organizations: Wall, PPI, ECB, Citi, Federal Reserve, Atlanta Fed, Ned Davis Research, Dow Jones Industrial, Nvidia Locations: China, Rosh, Yom Kippur

☆ 'Blatantly protectionist': China sharply rebukes EU probe on Chinese EV subsidies
▼ + stars: | 2023-09-14 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

Vcg | Visual China Group | Getty ImagesChina has accused the European Union of "blatant protectionism" after its executive arm unexpectedly launched an "anti-subsidy" investigation into China's electric vehicle makers. The Chinese Commerce Ministry urged dialogue to safeguard the interests of Chinese companies and commit to global efforts to address climate change and achieve carbon neutrality. If the EU finds harm from Chinese subsidies, Brussels is likely to impose tariffs on Chinese EVs despite the risk of political and economic backlash from Beijing. "If the EU finds harm from Chinese subsidies, Brussels is likely to impose tariffs on Chinese EVs despite the risk of political and economic backlash from Beijing." EU members are demanding the regional bloc shield European carmakers from Chinese EVs that they say are heavily subsidized by the Chinese government.

Persons: Ursula von der Leyen Organizations: Visual China, Getty, European Union, Chinese Commerce Ministry, CNBC, EU, Beijing . Eurasia, of, Eurasia Group Locations: Jinhua, Zhejiang Province, China, EU, Brussels, Beijing, U.S, Europe, Strasbourg

☆ Citadel's Ken Griffin says he's anxious about the market, seeing rally in the 7th or 8th inning
▼ + stars: | 2023-09-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Ken Griffin , founder and CEO of Citadel, said Thursday he's uncertain that the stock-market rally can keep chugging along as the economy starts to feel the pain from rate hikes. "I'm a bit anxious that this rally can continue," Griffin said on CNBC's " Squawk on the Street. " He thinks that the market might have a hard time maintaining its solid 2023 gains as the negative effects of rate hikes starts to emerge. Griffin believes that there's a small chance of one more rate increase later this year. "We're now at the point where we're gonna see the impact of these hikes really start to play out we're seeing the job market starting to weaken."

Persons: Ken Griffin, Griffin, he's, We're Organizations: Citadel, Big Tech, Nvidia, Federal

☆ Earth's mysterious core may be encased by an ancient ocean floor that has mountains 5 times taller than Everest
▼ + stars: | 2023-09-14 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +6 min

They believe an ancient ocean floor may be wrapped around our planet's mysterious core. The research suggests that Earth's core could be encased in an ancient ocean floor that features giant mountains five times the size of Mount Everest. Scientists have found looking at data from earthquakes that there may be a layer of ancient ocean floor coating the Earth's core. For them, the answer was clear: the layer was likely bits of ancient ocean floor, gobbled up over the ages from the surface as tectonic plates stretched and squished together. Due to its composition, the ocean floor is a perfect candidate for this layer, Hansen said.

Persons: Samantha Hansen, Lindsey Kenyon, Hansen, It's Organizations: Service, Everest, University of Alabama Locations: Antarctica, Hawaii

☆ Crunch time after string of aggressive central bank rate hikes
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +5 min

Major central banks have confounded economists with a string of interest rate rises that, so far, have moderated inflation without causing global recession. So far, nine developed economies have raised rates by a combined 3,915 bps in this cycle. Reuters Graphics2) NEW ZEALANDThe Reserve Bank of New Zealand lifted its cash rate to a 14-year high of 5.5% in May and has kept it there since. Reuters Graphics7) AUSTRALIAThe Reserve Bank of Australia kept rates steady at 4.1% for a third consecutive meeting in September, the last under former Governor Philip Lowe. Reuters Graphics10) JAPANThe Bank of Japan, the world's most dovish major central bank, meets next week.

Persons: BoE, Macklem, Philip Lowe, Lowe's, Michele Bullock, Naomi Rovnick, Harry Robertson, Samuel Indyk, Nell Mackenzie, Alun John, Yoruk Bahceli, Chiara Elisei, Vincent Flasseur, Sumanta Sen, Pasit, Dhara Ranasinghe, Sharon Singleton Organizations: European Central Bank, U.S . Federal Reserve, UNITED, Reuters, Federal Reserve, Reserve Bank of, BRITAIN, of England, CANADA Bank of Canada, Bank of Canada, ECB, Norges Bank, SWEDEN Traders, Swiss, Bank of Japan, Thomson Locations: U.S, Japan, Reserve Bank of New Zealand, NORWAY, Reserve Bank of Australia, SWEDEN, Swedish, SWITZERLAND Swiss, JAPAN

WARSAW, Poland (AP) —Poland's President Andrzej Duda said Thursday he was awaiting the results of an investigation into allegations that Polish consulates sold temporary work visas to migrants for thousands of dollars, just weeks before the strongly anti-migration ruling party seeks re-election for a third term. Media reports allege Poland’s consular sections issued some 250,000 visas to migrants from Asia and Africa since 2021 in return for bribes. Prosecutors and the state Anti-Corruption Office said Thursday that seven people — none of them state officials — had been detained on suspicion of corruption in the process of issuing a few hundred temporary work visas. According to Onet.pl, a news website, Wawrzyk personally insisted that temporary work visas be issued to groups of people from India, who posed as crews working for the Indian movie industry, popularly known as Bollywood. The allegations could seriously hit the conservative ruling party ahead of next month's parliamentary elections.

Persons: —, Andrzej Duda, Duda, “, ”, Piotr Wawrzyk, Donald Tusk, Poland's, Wawrzyk, Jaroslaw Kaczynski, Mateusz Morawiecki, Onet.pl Organizations: Media, Prosecutors, Law, Justice Locations: WARSAW, Poland, Asia, Africa, India, Belarus, East, Ukraine

☆ China's central bank set to boost liquidity but keep policy rate steady
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Sept 14 (Reuters) - China's central bank is expected to boost liquidity while keeping the borrowing cost steady when rolling over its medium-term policy loans on Friday, a Reuters survey showed, after a string of data showed some signs of economic stabilisation. China has already lowered the medium-term policy rate twice since June to stimulate credit demand and support a faltering economic recovery. New bank lending in China beat expectations by nearly quadrupling in August from July's level, as the central bank sought to shore up economic growth amid soft demand at home and abroad. To revive broad credit demand and rescue the troubled property sector, China unexpectedly cut the MLF rate last month. For this reason alone, it seems unlikely that the PBOC will embrace large-scale rate cuts."

Persons: Frances Cheung, Julian Evans, Pritchard, Shri Navaratnam Organizations: People's Bank of China, OCBC Bank, U.S, Capital Economics, Shanghai, Thomson Locations: SHANGHAI, China, United States, OCBC Bank .

☆ China auto industry body 'firmly opposes' EU probe on Chinese EV subsidies, urges objectivity
▼ + stars: | 2023-09-14 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

Employees work on the assembly line of C11 electric SUV at a factory of Chinese EV startup Leapmotor on April 26, 2023 in Jinhua, Zhejiang Province of China. Vcg | Visual China Group | Getty ImagesThe European Union should "objectively" consider China's electric vehicle industry and its highly competitive industrial supply chain, the head of a China automobile industry body on Thursday. This comes a day after the European Commission, the executive arm of the European Union, unexpectedly launched an "anti-subsidy" investigation into China's EV makers. "The EU should view the development of China's electric vehicle industry objectively, rather than arbitrarily employing unilateral economic and trade tools to restrict the development or increase operating costs of China's electric vehicle products in Europe," he added. He added that Chinese cars exported to Europe are generally retailing at nearly double the prices in mainland Chinese markets.

Persons: Cui Dongshu, Cui, Ursula von der Leyen Organizations: Visual China, Getty, European Commission, European Union, China's, China Passenger Car Association, CNBC, of Locations: Jinhua, Zhejiang Province, China, Europe, Strasbourg, EU, U.S, Beijing

Output had risen 0.5% in June, and the economy grew 0.2% over the three months to the end of July. The data underlined signs that Britain's economy is weakening, perhaps by more than the Bank of England had expected ahead of its September interest rate meeting. "Either way, it does suggest that higher interest rates and sticky inflation are having a more significant effect on the economy." Unusually wet weather in July hurt output at retailers and in the construction sector, which fell 0.5%, the ONS said. Wednesday's data does not include recent, substantial upward revisions to the performance of Britain's economy up to the end of 2021.

Persons: Toby Melville, Sterling, BoE, Neil Birrell, Samuel Tombs, Andy Bruce, David Milliken, William James, Alison Williams Organizations: St Thomas ' Hospital, REUTERS, LONDON, National Statistics, Bank of England, Premier Miton, ONS, Thomson Locations: St, London, Britain, England

☆ It’s a Spider, Not a Doctor, Captain or Vulcan
▼ + stars: | 2023-09-13 | by ( Christine Hauser | More About Christine Hauser | ) www.nytimes.com time to read: +1 min

Star Trek fans and spider enthusiasts have unexpectedly converged on a new frontier. Scientists in Brazil announced that they had identified three new species of spiders and subsequently named them Kirk, McCoy and Spock after some of the main characters of “Star Trek.”The trio of spiders are part of the Roddenberryus genus, a taxonomic classification named for Gene Roddenberry, who created the 1960s science fiction television series that spawned decades of films, sequels, comics and a community of devoted Trekkies. Mr. Roddenberry, who died in 1991, “inspired generations of kids to pursue scientific careers,” wrote Alexander Sánchez-Ruiz, a zoologist, and Alexandre Bragio Bonaldo in their article in European Journal of Taxonomy, published on Sept. 6, explaining how a science fiction franchise became the basis for the spiders’ names. The nomenclature was not entirely frivolous. Dr. Bonaldo, a researcher at the Paraense Emílio Goeldi Museum in Brazil, said in an interview that the spiders’ wide, fused heads and thoraxes, known as the cephalothorax, and long abdomen of the spiders “make them ideal candidates for names inspired by the Star Trek universe.”

Persons: Kirk, McCoy, Spock, Gene Roddenberry, Roddenberry, “, ”, Alexander Sánchez, Ruiz, Alexandre Bragio Bonaldo, Bonaldo Organizations: Scientists, “, Goeldi, Star Locations: Brazil

Reuters Graphics Reuters GraphicsMonth-to-month inflation numbers "will inevitably hop around," wrote Pantheon Macroeconomics Chief Economist Ian Shepherdson, who sees underlying consumer inflation nevertheless slowing to a "benign" level of below 3% by early next year. Since their meeting in July, only two Fed policymakers have said they felt rates do not need to rise further, while others noted their outlook for slowing inflation was built around a slightly higher federal funds rate. Overall bank credit has been falling on a year-over-year basis since mid-July, evidence of financial firms tightening access either through higher rates or stricter standards. By and large Fed officials feel the economy can grow about 1.8% a year with inflation at the 2% target and assuming "appropriate monetary policy." The outlook has diminished prospects for a U.S. recession, but may well keep Fed concerns about high - or higher - inflation alive.

Persons: Jessica Rinaldi, Ian Shepherdson, Jerome Powell, Powell, Torsten Slok, Goldman Sachs, Steven Blitz, Howard Schneider, Dan Burns, Andrea Ricci Organizations: REUTERS, Rights, Federal Reserve, Reuters Graphics Reuters, Investors, Apollo Global Management, Lombard Chief U.S, Fed, Thomson Locations: Flushing , New York, U.S

☆ Is the Electoral College Becoming Fairer?
▼ + stars: | 2023-09-12 | by ( David Leonhardt | More About David Leonhardt | ) www.nytimes.com time to read: +2 min

Many political analysts (including me) assumed that Trump’s presidency would aggravate racial gaps in voting, given Trump’s embrace of white nationalism. White voters have moved toward the Democratic Party, while Asian, Black and Hispanic voters have moved to the right. Voters of color still lean clearly Democratic, and white voters clearly Republican, but the shifts are big enough to matter. White voters have helped Democrats win recent elections in the Midwest and Georgia, while voters of color have helped Republicans keep their hold on Florida and Texas. The most progressive segment of the American public, by contrast, is disproportionately white, the Pew Research Center has documented.

Persons: Trump, Covid, Republicans ’, lockdowns Organizations: Democratic Party, Republican, Midwest and, —, Republican Party, Republicans, Equis, Pew Research Center Locations: Midwest, Midwest and Georgia, Florida, Texas, U.S

☆ Top fund managers flee emerging markets in fear of a potential global crisis, new survey shows
▼ + stars: | 2023-09-12 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Top investors are dumping emerging market equities and buying U.S. stocks at a record pace due to concerns about a potential global crisis, according to Bank of America investment strategist Michael Hartnett. The BofA Global Fund Manager Survey showed that September saw a record jump in investor allocation to the U.S., and out of emerging market securities. The shift in asset allocation stemmed from a significant decline in China growth expectations. Bank of America's survey showed none of the respondents now expect a stronger economy in China, versus 78% when polled in February. Bank of America's survey showed investors see China real estate as the No.1 source of the next global credit event.

Persons: Michael Hartnett, Hartnett Organizations: Bank of America, Global, Survey, Bank of, People's Bank of Locations: U.S, China, Beijing, People's Bank of China

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