DIRS.INFO The most relevant business & tech news

☆ Ahead of Zelenskyy address, U.S. Senate backs new ambassador to Russia
▼ + stars: | 2022-12-21 | by ( ) www.cnbc.com time to read: +2 min

Ambassador to Armenia Lynne Tracy testifies before the Senate Foreign Relations Committee during her confirmation hearing to be the next ambassador to Russia in the Dirksen Senate Office Building on Capitol Hill on November 30, 2022 in Washington, DC. The U.S. Senate on Wednesday confirmed Lynne Tracy as President Joe Biden's nominee to be ambassador to Russia, hours before Ukrainian President Volodymyr Zelenskyy was to give a rare wartime address to a joint meeting of Congress. Tracy, a career diplomat and current ambassador to Armenia, will be the first woman to serve as U.S. ambassador to Russia. It was not immediately clear when she will assume the post, because Russia must agree to accept her. Washington has been sending a steady supply of weapons and economic assistance to Zelenskyy's government as Ukraine fights Russian troops.

☆ Senate Banking Chairman Brown to introduce bill closing 'shadow' banking loophole after Elon Musk says Twitter will process payments
▼ + stars: | 2022-12-06 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

Senate Banking Committee Chairman Sherrod Brown will introduce a bill Tuesday that aims to close the so-called shadow banking loophole that allows retail and tech companies to offer banking services without the same stringent oversight as other financial institutions. Twitter is one of several non-bank companies that sought to enable banking services for users through state-chartered ILCs. Jack Dorsey, Musk's predecessor at Twitter, also was involved in financial services through his separate payments company Square. Other companies that have applied for ILC charters include eCommerce marketplace Rakuten, Ford Motor Company and financial services firm Edward Jones . The Federal Deposit Insurance Corporation approved ILC deposit insurance applications for Square and Nelnet, a student financial services company, in 2020.

☆ Washington lawmakers hold on to crypto holdings despite calls for new laws in wake of FTX collapse
▼ + stars: | 2022-12-01 | by ( Brian Schwartz | ) www.cnbc.com time to read: +7 min

Another lawmaker, Republican Sen. Tommy Tuberville of Alabama, disclosed at a Senate Agriculture Committee hearing about FTX on Thursday that he, too, holds some crypto assets. Tuberville's most recent disclosure reports from this year reviewed by CNBC do not show any crypto stock purchases. Out of all ten offices contacted, only one said they sold their crypto stock holdings after FTX imploded. Rep. Marie Newman, D-Ill., who lost her bid for reelection owned crypto stock up until last week, recently sold her digital token stocks as the industry took a hit. Toomey told CNBC "HODL" when asked about whether he plans to sell his crypto stock following FTX's collapse.

☆ The U.S. Army is struggling to find the recruits its needs to win the fight over the future
▼ + stars: | 2022-10-26 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

That has also impacted the U.S. Army, which as the largest branch of the U.S. military has a current workforce of 466,400. "Wages have gone up a lot, and that's great for Americans, but it's making it harder for us in the Army to compete." The Army missed its recruitment goal for fiscal 2022 by 25% or 15,000 soldiers, the military service said earlier this month. However, changing the broader propensity of Americans to serve in the military is a challenge that is a much longer-term. The Army also needs to change how parents think about the Army and the risks it poses to children.

☆ Republican Toomey blasts Biden's 'irresponsible' use of Cold War-era defense law
▼ + stars: | 2022-09-26 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

Senator Pat Toomey speaks in the Dirksen Senate Office Building in Washington, D.C.,U.S., May 10, 2022. Tom Williams/Pool via REUTERSWASHINGTON, Sept 26 (Reuters) - Republican Senator Pat Toomey on Monday blasted President Joe Biden for what he called the increasing and "irresponsible" use of a Cold War-era defense law to boost production of baby food, solar panel components and other non-defense items. Toomey, the top Republican on the Senate Banking Committee, told Biden that using the Defense Production Act in this way disrupted supply chains and violated the intent of the law to make goods available in actual national security emergencies. The 1950 law gives the Pentagon wide powers to procure equipment necessary for national defense. Toomey asked Biden to answer a series of detailed questions about the administration's reasons for invoking the law by Oct. 11.

☆ Senior Republican chastises banks for social agenda that 'harms America'
▼ + stars: | 2022-09-22 | by ( Pete Schroeder | ) www.reuters.com time to read: +2 min

Senator Pat Toomey speaks in the Dirksen Senate Office Building in Washington, D.C.,U.S., May 10, 2022. Tom Williams/Pool via REUTERS/File Photo/File PhotoWASHINGTON, Sept 22 (Reuters) - The heads of the nation's largest banks faced pointed criticism from a top Republican Thursday, as he chastised firms for "embracing a liberal ESG agenda that harms America." Senator Pat Toomey, the senior Republican on the Senate Banking Committee, urged banks to "cease and desist" from weighing in on social and cultural issues as chief executives appeared before Congress for an oversight hearing. They were joined by the CEOs of the country's largest regional lenders, US Bancorp (USB.N), PNC Financial (PNC.N) and Truist (TFC.N). read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Pete Schroeder Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "Dirksen"

6 mentions found