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WASHINGTON, May 28 (Reuters) - U.S. President Joe Biden on Sunday finalized a budget agreement with House Speaker Kevin McCarthy to suspend the $31.4 trillion debt ceiling until Jan. 1, 2025, and said the deal was ready to move to Congress for a vote. The deal, if approved, will prevent the U.S. government from defaulting on its debt and comes after weeks of heated negotiations between Biden and House Republicans. "I strongly urge both chambers to pass that agreement," Biden said, adding that he expected McCarthy to have the necessary votes for the deal to pass. The deal has drawn fire from hardline Republicans and progressive Democrats, but Biden and McCarthy are banking on getting enough votes from both sides. McCarthy dismissed threats of opposition within his own party, saying "over 95%" of House Republicans were "overwhelmingly excited" about the deal.

☆ Traders turn optimistic on debt ceiling deal — and one strategist says it's a 'market opportunity'
▼ + stars: | 2023-05-29 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +4 min

Speaker McCarthy discussed the latest development of the debt ceiling negotiations with the White House. (Photo by Win McNamee/Getty Images) Win Mcnamee | Getty Images News | Getty ImagesAnalysts are broadly optimistic that the deal to raise the U.S. debt ceiling will pass a divided Congress. The compromise also sees the debt ceiling suspended until Jan. 1, 2025, pushing it past the 2024 presidential election. watch nowDavid Roche, president and global strategist for Independent Strategy saw this as a "Democratic win." He expects the deal will pass the House with Democratic support, although, like Pavlick, he said right-wing Republicans will likely vote against it.

WASHINGTON, May 28 (Reuters) - U.S. President Joe Biden said on Sunday he had finalized a budget agreement with U.S. House Speaker Kevin McCarthy to suspend the $31.4 trillion debt ceiling and that the deal was ready to move to Congress for a vote. "I strongly urge both chambers to pass that agreement," Biden said, adding that he expected McCarthy to have the necessary votes for the deal to pass. The deal has drawn fire from hardline Republicans and progressive Democrats, but Biden and McCarthy believe they have enough votes from moderates on both sides. [1/2] U.S. President Joe Biden speaks on his deal with House Speaker Kevin McCarthy (R-CA) to raise the United States' debt ceiling at the White House in Washington, U.S., May 28, 2023. But McCarthy dismissed threats of opposition within his own party, saying "over 95%" of House Republicans were "overwhelmingly excited" about the deal.

Hours later, the Democratic president said he was confident the legislation would pass both chambers of Congress to avoid a U.S. government default. Biden and McCarthy were due to speak later on Sunday to finalize the agreement, which has drawn fire from hardline Republicans and progressive Democrats. House Republicans expected on Sunday to unveil legislation to pass the deal. But McCarthy dismissed threats of opposition within his own party, saying "over 95%" of House Republicans were "overwhelmingly excited" about the deal. The deal would also impose a 1% across-the-board spending cut should Congress fail to enact 12 appropriations bills by Oct. 1.

WASHINGTON, May 27 (Reuters) - U.S. President Joe Biden and top congressional Republican Kevin McCarthy reached a tentative deal to suspend the federal government's $31.4 trillion debt ceiling on Saturday evening, ending a months-long stalemate. Biden and McCarthy held a 90-minute phone call earlier on Saturday evening to discuss the deal, McCarthy briefed his members later in the evening, and the White House and the House leader spoke afterward. [1/6] General view of the U.S. Capitol after U.S. House Speaker Kevin McCarthy (R-CA) reached a tentative deal with President Joe Biden to raise the United States' debt ceiling and avoid a catastrophic default, in Washington, U.S. May 27, 2023. The long standoff on raising the debt ceiling spooked financial markets, weighing on stocks and forcing the United States to pay record-high interest rates in some bond sales. The work to raise the debt ceiling is far from done.

☆ The U.S. isn't the only country with a debt ceiling. Here's how Denmark avoids the drama
▼ + stars: | 2023-05-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

U.S. President Joe Biden hosts debt limit talks with U.S. House Speaker Kevin McCarthy (R-CA) in the Oval Office at the White House in Washington, U.S., May 22, 2023. Yet in Denmark — the only other democracy with a similar type of nominal debt ceiling — barely anybody knows it exists. Separation of church and state While the U.S. debt ceiling restricts government borrowing to a particular figure, most other economies set debt limits as a percentage of GDP. The Danish debt ceiling, or "gældsloft," was implemented as a constitutional requirement in 1993 after a restructure of the country's government, and set at 950 billion Danish kroner ($137.5 billion). Denmark is the only other country in the world with a debt ceiling comparable to that of the U.S., but it never causes the same political crises that Washington frequently faces.

☆ Biden and McCarthy to meet on the debt ceiling with only 10 days until U.S. risks default
▼ + stars: | 2023-05-22 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +3 min

Biden joined Irish Taoiseach Leo Varadkar, Speaker of the House Kevin McCarthy (R-CA) and other members of Congress for the traditional St. Patrick's Day Friends of Ireland Luncheon. Biden and McCarthy are set to meet at 5:30 p.m. WASHINGTON — White House negotiators and representatives of House Speaker Kevin McCarthy resumed debt ceiling talks Monday morning, as President Joe Biden prepared to meet with McCarthy face to face with only 10 days to go until the U.S. risks default. Biden is hoping to reach a debt limit deal that would push the next deadline out past the 2024 presidential election. But House Republicans, who so far have endorsed only a one-year hike, say that if Biden wants more time, then he will need to agree to even more cuts.

☆ CNBC Daily Open: Investors are playing a waiting game
▼ + stars: | 2023-05-16 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. President Joe Biden, likewise, expressed optimism that a deal with Republicans to raise or suspend the debt ceiling could be reached. The S&P 500 added 0.3%, the Dow Jones Industrial Average gained 0.14% to snap a five-day losing streak and the Nasdaq Composite rose 0.66%. Biden will meet congressional leaders today to continue talks about the debt ceiling. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: Markets are playing a waiting game
▼ + stars: | 2023-05-16 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. President Joe Biden, likewise, expressed optimism that a deal with Republicans to raise or suspend the debt ceiling could be reached. Biden will meet congressional leaders today to continue talks about the debt ceiling. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ Americans in most states will no longer receive Covid exposure notifications on phones
▼ + stars: | 2023-05-12 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

Americans in most states will no longer receive Covid exposure notifications on their smartphones now that the U.S. public health emergency has ended. On Thursday, the organization said "the majority of states" stopped using the exposure notification system after the Biden administration ended the public health emergency on May 11. There is no clear tally of how many Americans activated the exposure notification feature on their phones or downloaded apps over the past three years. Despite these benefits, some Americans have been skeptical of the Covid exposure notification tools. State decisions to end Covid exposure notifications are part of a broader shift in how the country responds to the pandemic.

☆ The $31 trillion debt-ceiling fiasco could punish markets and it's complicating an already complex economic outlook
▼ + stars: | 2023-05-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

In any case, one outcome that many hold with a high degree of certainty is that financial markets are going to feel pain if the "x-date" bell tolls. This $31 trillion debt ceiling argument "comes at the worst possible time," according to Chicago Fed President Austan Goolsbee. "Many past instances of debt limit standoffs have been resolved without significant market fallout," the strategists wrote in a recent note. That's according to LPL chief global strategist Quincy Krosby — she says it boils down to these three reasons. With recession risks climbing, Bank of America analysts slashed their 2023 outlook for oil prices.

☆ Employee Monitoring and Surveillance
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +50 min

Ensuring Employee Safety and Systems SecurityEmployers may use electronic workplace monitoring and surveillance to protect their:Worksites. Potential Liability for Electronic Workplace Monitoring and SurveillanceEmployers that engage in electronic workplace monitoring and surveillance must comply with various federal and state laws, including:The Wiretap Act. Best Practices for Electronic Workplace Monitoring and SurveillanceTo avoid violating relevant state and federal laws, before conducting workplace monitoring and surveillance, employers should:Consider the purpose and appropriate scope of their monitoring and surveillance activities and what methods will help them achieve their objectives. Determine the Purpose of Workplace Monitoring and SurveillanceBefore conducting any workplace monitoring or surveillance, best practice is for employers to identify the purpose and goals of these activities to:Ensure that there is a legitimate business purpose for the planned monitoring and surveillance activities. Determine the scope of monitoring and surveillance necessary to accomplish the business purpose, and conduct only the minimum monitoring and surveillance necessary to meet that business need.

CNN —Canada has told its citizens in Sudan that evacuations are “not possible at this time” due to the closure of airspace amid fierce fighting between rival forces. Earlier on Saturday, Saudi Arabia said it had evacuated Canadian nationals from Sudan to Saudi Arabia. However, the Saudi Ministry of Foreign Affairs did not provide the number of Canadians it had helped to evacuate. There are 1,596 Canadians signed up to the Registration of Canadians Abroad Service in Sudan but this number provides only an estimate of Canadians in Sudan as registration is voluntary. Canadian citizens can register through the Registration of Canadians Abroad service on the Travel.gc.ca site.

☆ How to put your best travel foot forward for Earth Day 2023
▼ + stars: | 2023-04-22 | by ( Forrest Brown | ) edition.cnn.com time to read: +20 min

But you don’t have to totally cut out travel or stay super close to home to be a good planetary citizen. You need a city that’s dedicated to getting it right to best enjoy an urban biking vacation. Here, we've curated 30 of our favorite corners, including the Thu Bon River, which flows through central Vietnam. A maze of rivers and caves, the UNESCO World Centre is defined by its craggy limestone facades and jade green water. Bruno De Hogues/Photodisc/Getty Images Phong Nha-Ke Bang National Park: A UNESCO World Heritage, Phong Nha-Ke Bang National Park is heaven for spelunkers.

☆ U.S. House Republicans tangle over debt limit, spending cut plans
▼ + stars: | 2023-04-18 | by ( Richard Cowan | ) www.reuters.com time to read: +4 min

Sometime this summer, the Treasury Department will be unable to manage its debt under the current $31.4 trillion limit on borrowing, according to the Biden administration and the non-partisan Congressional Budget Office. "Don't bother with partisan wish lists and unrealistic proposals that will never solve this debt default crisis," Senate Majority Leader Chuck Schumer, a Democrat, warned House Republicans in a speech to the Senate. But Mace said McCarthy showed rank-and-file Republicans a series of options, projected onto a screen, that included the possibilities of a $1 trillion or $2 trillion debt limit increase with various time frames attached. Perry said referring to a debt limit hike. Hern did not respond directly when asked whether House Republicans would pare back funding for some federal law enforcement, such as the FBI, as former President Donald Trump has urged.

☆ House Republicans chart new strategy to pressure Biden, Democrats
▼ + stars: | 2023-04-16 | by ( David Morgan | ) www.reuters.com time to read: +6 min

Any proposal Republicans introduce would need to be negotiated with Biden's Democrats, who control the Senate, before it could become law. The White House, which is leading the Democrats' approach to the debt ceiling, has dismissed the Republican proposals as unrealistic. That would set the stage for another debt ceiling debate in the closing months of the 2024 presidential campaign. Biden and McCarthy met at the White House in February to discuss the standoff, but they have not held further talks as the administration has called on House Republicans to release a budget proposal. Some Republicans also favor the clean debt ceiling increase that Biden has demanded.

☆ U.S. House Republicans chart new strategy to pressure Biden, Democrats
▼ + stars: | 2023-04-16 | by ( David Morgan | ) www.reuters.com time to read: +6 min

☆ Wall Street sees a semiconductor industry bottom coming. Here's how we're playing the stocks
▼ + stars: | 2023-04-12 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

NVDA AMD YTD mountain Nvidia vs. AMD year to date So, the question now is: Can the rally in semis continue? To help us read the tea leaves, here's a look at what Wall Street analysts are saying about the underlying fundamentals of the industry. Evercore said a "fundamental bottom" for the semiconductor industry currently playing out in March and April "has only strengthened" recently. Analysts there believe the inventory correction that's plagued the industry in recent quarters will be largely complete by the second quarter. Bottom line While there's some variation on timing, Wall Street clearly believes a bottom is in the process of playing out in the semiconductor industry.

☆ China warns US House Speaker not to meet Taiwan president
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Leah Millis/File PhotoBEIJING, April 4 (Reuters) - China warned U.S. House Speaker Kevin McCarthy on Tuesday not to "repeat disastrous past mistakes" and meet Taiwan President Tsai Ing-wen, saying it would not help regional peace and stability, but only unite the Chinese people behind a common enemy. China, which claims Taiwan as its own territory, staged war games around the island last August after then-Speaker Nancy Pelosi, a Democrat, visited the capital, Taipei. The U.S. says such stopovers are common practice and there is no need for China to overreact. In a statement on Tuesday, Taiwan's foreign ministry said China had no right to complain, as the People's Republic of China has never ruled the island. "Even if the authoritarian government continues with its expansion and intensifies coercion, Taiwan will not back down."

☆ America's Parking Addiction Hurts the Economy, Drives up Housing Costs
▼ + stars: | 2023-04-04 | by ( Jeral Poskey | ) www.businessinsider.com time to read: +10 min

A society committed to housing and feeding its people will ensure plenty of land is dedicated to homes and farms. According to the builder WGI, the average parking stall in the US costs $27,900 to build, more than the cost of many new compact cars. The money and resources dedicated to parking could be used for other purposes, but breaking our country's reliance on parking has been difficult. Parking accounted for about 27% of per-unit costs, regardless of whether the resident owned a car or not. Better transportation, better land use, better citiesEfforts are underway to finally rid America of its unhealthy devotion to parking.

☆ US approves California plan requiring half of heavy duty trucks be EV by 2035
▼ + stars: | 2023-03-31 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

California Governor Gavin Newsom said as a result of the plan, "half of all heavy duty trucks sold in CA will be electric by 2035." The California Air Resources Board (CARB) had sought waivers from the Clean Air Act to set heavy-duty vehicle and engine emission standards. CARB has noted heavy-duty vehicles greater than 14,000 pounds comprised 3% of vehicles on California roads, but account for more than 50% of nitrogen oxides and fine particle diesel pollution. In December, the EPA finalized new emissions standards to drastically cut smog- and soot-forming emissions from heavy-duty trucks. Transportation is the largest source of U.S. greenhouse gas emissions, making up 29% of emissions, and heavy-duty vehicles are the second-largest contributor, at 23%.

☆ U.S. approves California plan to require half of heavy duty trucks be EVs by 2035
▼ + stars: | 2023-03-31 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

California Governor Gavin Newsom said on Twitter that, as a result of the plan, "half of all heavy duty trucks sold in CA will be electric by 2035." The California Air Resource Board had sought waivers from the Clean Air Act to set heavy-duty vehicle and engine emission standards. Separately, California in August moved to require all new light-duty cars and trucks sold in the state by 2035 to be either electric or plug-in electric hybrids. In December, the EPA finalized new emissions standards to drastically cut smog- and soot-forming emissions from heavy-duty trucks. Transportation is the largest source of U.S. greenhouse gas emissions, making up 29% of emissions, and heavy-duty vehicles are the second-largest contributor, at 23%.

☆ U.S. House speaker McCarthy says lawmakers to move forward with TikTok bill
▼ + stars: | 2023-03-26 | by ( ) www.cnbc.com time to read: +3 min

U.S. Speaker of the House Kevin McCarthy (R-CA), joined by fellow Republican lawmakers, holds a press conference at the U.S. Capitol on March 24, 2023 in Washington, DC. U.S. House of Representatives Speaker Kevin McCarthy said on Sunday lawmakers will move forward with legislation to address national security worries about TikTok, alleging China's government had access to the short video app's user data. "The House will be moving forward with legislation to protect Americans from the technological tentacles of the Chinese Communist Party," McCarthy said on Twitter. McCarthy, a Republican, said in a tweet on Sunday, "It's very concerning that the CEO of TikTok can't be honest and admit what we already know to be true — China has access to TikTok user data." Former U.S. President Donald Trump lost a series of court rulings in 2020 when he sought to ban TikTok and another Chinese-owned app, WeChat, a unit of Tencent.

☆ McCarthy expects US House will pass legislation to address TikTok
▼ + stars: | 2023-03-24 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Evelyn HocksteinWASHINGTON, March 24 (Reuters) - U.S. House Speaker Kevin McCarthy thinks lawmakers will pass bipartisan legislation to address national security worries about Chinese-owned short video app TikTok, he said on Friday, and called the testimony of the company's CEO "very concerning." There are growing calls to ban TikTok or to pass bipartisan legislation to give the Biden administration legal authority to seek a ban. Former U.S. President Donald Trump lost a series of court rulings in 2020 when he sought to ban TikTok and another Chinese-owned app, WeChat, a unit of Tencent (0700.HK). At Thursday's House hearing, Representative Neal Dunn asked Chew if ByteDance has spied on Americans at Beijing's request. "There are real national security concerns with respect to TikTok," said House Democratic Leader Hakeem Jeffries on Friday, citing privacy and consumer protection issues.

☆ Reaction to Biden's 2024 budget proposal
▼ + stars: | 2023-03-09 | by ( Katharine Jackson | ) www.reuters.com time to read: +3 min

REUTERS/Leah MillisWASHINGTON, March 9 (Reuters) - U.S. President Joe Biden on Thursday delivered a budget proposal that includes a robust spending agenda, higher taxes on the wealthy and plans to reduce the deficit, a document that forms the blueprint for his expected 2024 re-election bid. Here is reaction to Biden's budget proposal to Congress for the 2024 fiscal year:HOUSE BUDGET COMMITTEE CHAIR JODEY ARRINGTON, A REPUBLICAN FROM TEXAS:"His policies have led to 40-year record inflation, soaring interest rates, and the prospect of a sustained economic recession. Unfortunately, Biden’s latest budget is more of the same bloated bureaucracy at the expense of working families, while sticking our grandchildren with the bill." HOUSE DEMOCRATIC LEADER HAKEEM JEFFRIES, ON TWITTER:"The Biden budget plan protects Social Security, strengthens Medicare and invests in our children. SENATOR CHUCK GRASSLEY:"Even with near-record revenues, President Biden wants to raise taxes on every segment of America.

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