DIRS.INFO The most relevant business & tech news

☆ Factbox: US government shutdown: what does it mean?
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +5 min

The 2018-2019 shutdown furloughed roughly 800,000 of the federal government's 2.2 million employees. It is not clear whether the United States' 63 national parks would remain open. In the 2018-19 shutdown the Trump administration kept them open with public restrooms and information desks closed and waste disposal halted. Some states, such as New York and Utah, paid for their sites to stay open and staffed during the 2018-2019 shutdown. Unlike a government shutdown, a U.S. debt default would likely have severe consequences, roiling global financial markets and plunging the country into recession.

Persons: Julia Nikhinson, Goldman Sachs, Obama, Trump, Moira Warburton, Andy Sullivan, Grant McCool Organizations: U.S . Capitol Police, REUTERS, Congressional Research Service, Lawmakers, Services, Congressional, White House, Department of Homeland Security, Coast Guard, Justice, Transportation, Administration, Internal Revenue Service, Pentagon, Congress, U.S . Treasury, Thomson Locations: Washington , U.S, United States, New York, Utah, U.S, Washington

☆ Pension plans are pretty rare. Here's who still has them and how they work
▼ + stars: | 2023-09-07 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +8 min

But not all unionized workers have equal access to their employer’s DB plan. One sticking point in the UAW negotiations is to restore access to company pension plans that had been closed to anyone hired after the union accepted deep concessions in its 2007 contract. Why employers moved away from traditional pensionsMany employers started making the shift to 401(k) plans and other DC plans in the 1980s. The PBGC protects pension benefits and continues to pay retirees should their employer or its DB plan become insolvent. Retirement readiness at risk for millionsSimply having access to a workplace retirement plan isn’t enough to guarantee a secure retirement.

Persons: “ We’ve, ”, Karen Friedman, That’s, —, Craig Copeland, Copeland, won’t, “, Friedman, nonparticipants, — CNN’s Chris Isidore Organizations: New, New York CNN, United Auto Workers, Big Three, Pension, Center, Bureau of Labor Statistics, DB, UAW, General Motors, Chrysler, Congressional Research Service, Research Institute, ”, federal, Guaranty Corp, Workers, Social Security, Vanguard, Security Locations: New York

☆ Russia and Ukraine are fighting the kind of drone war the US military has been worrying about, and it's scrambling to prepare for a future that's already here
▼ + stars: | 2023-08-31 | by ( Christopher Woody | Jake Epstein | ) www.businessinsider.com time to read: +14 min

The scale of the drone war in Ukraine is one of the most striking features of the conflict. "ISIS figured out how to arm their drones and attack us either with 'kamikaze' explosive-laden drones or drones that dropped" modified munitions, Townsend said. Soldiers with the 5th Battalion, 4th Air Defense Artillery Regiment train on an Avenger air-defense system in in July. In 2018, the Army reactivated the 5th Battalion, 4th Air Defense Artillery Regiment, returning a short-range-air-defense capability to Europe. AdvertisementAdvertisement"The war is showing how much [drones are] here and are affecting the war every day.

Persons: Ukraine isn't, Mara Karlin, wasn't, Karlin, that's, John Moore, Stephen Townsend, Townsend, Frank McKenzie, MAHMOUD TAHA, I've, Syria —, Richard Clarke, Clarke, Tom Karako, " McKenzie, McKenzie, Maj, Sean Gainey, Gainey, FADEL SENNA, Douglas Bush, Bush, they've, Col, Michael Parent, Narciso Contreras, Parent Organizations: Pentagon, Service, Defense Writers, US Marine, US Army, US Africa Command, ISIS, Getty, Army, US Special, Command, Aspen Security Conference, Missile Defense, Center for Strategic, International Studies, Patriot, —, US Air Force, Congressional Research Service, 5th Battalion, 4th Air Defense Artillery Regiment, Spc, Yesenia, Asymmetric Warfare Group, Battalion, Stryker, Washington DC, Marine Corps, US Army Yuma, US, Anadolu Agency, Pacific . The Defense Department Locations: Ukraine, Wall, Silicon, Armenia, Azerbaijan, Afghanistan, Iraq, Mosul, Syria, Homs, Europe, Washington, Russian, Kyiv, Russia, Lviv Oblast, China, Pacific

☆ David Breg — Deputy Research Director, WSJ Pro at The Wall Street Journal
▼ + stars: | 2023-08-27 | by ( David Breg | ) www.wsj.com time to read: 1 min

David BregDavid Breg is deputy research director at WSJ Pro, The Wall Street Journal’s professional arm, where he writes and edits cybersecurity research and analysis for executives and businesspeople. He also appears frequently at WSJ Pro events as a moderator. Dave has prior experience managing the research unit at public relations firm Burson-Marsteller and policy knowledge from serving as an analyst at the Congressional Research Service.

Persons: David Breg David Breg, Dave, Burson Organizations: WSJ Pro, Congressional Research Service

☆ Are U.S. seniors among the developed world's poorest? It depends on your point of view
▼ + stars: | 2023-08-05 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Peopleimages | E+ | Getty ImagesIs old-age income poverty too high? Consider this thought exercise: What is a tolerable poverty rate among American seniors? This ranks the U.S. behind 30 other countries in the 38-member bloc, which collectively has an average poverty rate of 13.1%. That old-age income poverty rate has declined by over two-thirds in the past five decades, according to the Congressional Research Service. Researchers seem to agree that a looming Social Security funding shortfall is perhaps the most pressing issue facing U.S. seniors.

Persons: Andrew Reilly, Reilly, Mitchell, David Blanchett, —, Zhe Li, Joseph Dalaker, hurtling, Olivia Mitchell, Blanchett Organizations: Organization for Economic Co, U.S, Employment, Labour, Social Affairs, Social Security, OECD, Security, Census, Congressional Research Service, CRS, Prudential Financial, Social, Insurance Trust Fund, Olivia Mitchell University of Pennsylvania, Pension Research, Social Security Administration Locations: U.S, Mexico, that's, PGIM, American

☆ House Republicans want to give themselves $8,000+ pay rises, while furiously opposing other government spending
▼ + stars: | 2023-07-14 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

House Republicans want to give themselves pay rises of at least $8,000, Roll Call reported. The push came after they negotiated cuts to three federal programs for low-income people. Spending plans approved by the Republican-controlled House Appropriations Committee last month include lawmakers getting a 4.6% pay increase in 2024, Roll Call reported, citing the Congressional Research Service. The report comes after GOP leaders negotiated a debt-ceiling agreement with President Joe Biden that curtails federal programs for people on low incomes, imposing new work requirements to get help. "House Republicans are moving to give themselves a raise while taking an ax to education, health, and other essential programs that help grow the economy by growing the middle class."

Persons: Mark Amodei, Amodei, Joe Biden, Angie Craig of, Colin Seeberger, Seeberger Organizations: Service, Republicans, Republican, Congressional Research Service, Senate, GOP, Assistance, Center for American Locations: Wall, Silicon, Nevada, Angie Craig of Minnesota

☆ Nearly 40% of US attack submarines in or awaiting repair as shipyards face worker shortages, supply chain issues
▼ + stars: | 2023-07-12 | by ( Oren Liebermann | ) edition.cnn.com time to read: +3 min

CNN —Nearly 40% of US fast attack submarines are in repair or awaiting maintenance as shipyards face a shortage of workers and and supply chain issues, according to a new report from the Congressional Research Service. Of the 49 fast attack submarines in the Navy, a total of 18 are either in depot maintenance or awaiting maintenance, known as idle. “As planned, about one third of our fast attack submarines are currently in maintenance receiving critical repairs to sustain a mission ready force. The strain on the submarine fleet will be exacerbated by the agreement between the US, UK and Australia to provide Canberra with three to five fast attack submarines in the early 2030s. The Navy has three classes of fast attack submarines in service: older Los Angeles-class attack subs, Seawolf-class subs, and the newer Virginia-class subs.

Persons: ”, Jackie Pau Organizations: CNN, Congressional Research Service, Navy, Bloomberg, “, United Locations: United States, Australia, Canberra, China, Los Angeles, Virginia

☆ Opinion | The U.S. Reassessment of Netanyahu’s Government Has Begun
▼ + stars: | 2023-07-11 | by ( Thomas L. Friedman | ) www.nytimes.com time to read: +2 min

Whenever people ask me what I do for a living, I tell them that I’m a translator from English to English. Why did President Biden tell CNN that “this is one of the most extreme” Israeli cabinets he’d ever seen? And why did the U.S. ambassador to Israel just say that America is working to prevent Israel from “going off the rails”? According to a 2020 Congressional Research Service report, Israel has received the most U.S. foreign assistance of any country in the world since World War II, at $146 billion, not adjusted for inflation. That’s quite an allowance and one that might have merited a little more respect for the U.S. president from Ben-Gvir, who in his youth was convicted of inciting racism against Arabs.

Persons: —, Biden, Benjamin Netanyahu, CNN’s Fareed Zakaria, Itamar Ben, Gvir, Israel Organizations: CNN, Biden, West Bank, U.S, Service, Ben Locations: U.S, Israel, “

☆ The US says the cluster bombs it's giving Ukraine fail less than 3% of the time. Experience suggests the real number is far higher.
▼ + stars: | 2023-07-08 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +4 min

The United States is providing Ukraine with cluster bombs it says have a failure rate of 2.35%. Cluster bombs that fail to explode can pose a risk to civilians for decades to come. He compared it to the alleged failure rate for Russian cluster munitions of 30-40%. 'Failure rates of 10% to 30%'Russia has been criticized not just for using cluster bombs but for deploying them in densely populated civilian areas. The US military has said it will select from its stockpile only cluster munitions that have been assessed to have a failure rate of 2.35%.

Persons: Colin Kahl, I'm, Kahl, Joe Biden Organizations: Service, New York Times, Congressional Research Service, CNN Locations: States, Ukraine, Wall, Silicon, Russia, Laos, Russian, United States

☆ Millions of high earners pay this investment income tax every year. Here's how to avoid it
▼ + stars: | 2023-07-05 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Higher earners are more likely to owe an extra levy on investment earnings than a decade ago. Enacted as part of the Affordable Care Act health-care expansion, the 3.8% net investment income tax applies to capital gains, interest, dividends, rents and more once your so-called modified adjusted gross income, or MAGI, exceeds certain thresholds. MAGI can be higher than adjusted gross income because it adds back the foreign earned income exclusion. While dozens of tax code provisions adjust for inflation every year, the thresholds for net investment income tax have remained the same since 2013 — MAGI above $200,000 for single filers and $250,000 for married couples filing together. An estimated 7.3 million taxpayers paid nearly $60 billion in net investment income tax in 2021, compared with 3.1 million taxpayers paying $16.5 billion in 2013, according to the Congressional Research Service.

Persons: it's, It's, Brian Schultz, Plante Moran Organizations: Affordable, Finance, Congressional Research Service Locations: Southfield , Michigan

☆ Fact Check-Did Biden break Flag Code during White House Pride event? Experts weigh in
▼ + stars: | 2023-06-20 | by ( Reuters Fact Check | ) www.reuters.com time to read: +4 min

A Reuters photo of the flag display with the Progress Pride flag hanging between two U.S. flags can be seen (here). The Progress Pride flag is a reimagined version of the traditional Pride Flag, with added stripes (white, pink, light blue, black and brown) to represent the Trans community as well as minority or marginalized communities (here), (here). Other critics were less specific, saying the Progress Pride flag was displayed as more prominent overall. Consulted by Reuters Fact Check, vexillologists (flag experts) offered different perspectives on whether the White House display was a violation of the Flag Code. The U.S. flag on top of the White House can be seen in photos from the Pride celebration (here), (here), (here).

Persons: Joe Biden, Charles Spain, observer’s, Peter Keim, ”, Keim, “, Scot Guenter, Guenter, Read Organizations: White, Congressional Research Service, Reuters, Flag Research Center, U.S, ”, FRC, Facebook, Flag Foundation, San Jose State University, American Vexillological Association, NAVA, “, U.S . Locations: U.S, ” Spain, ”, American

☆ A leaked Amazon sales playbook lays out how companies in every industry can use generative AI
▼ + stars: | 2023-05-26 | by ( Eugene Kim | ) www.businessinsider.com time to read: +2 min

It shows that Amazon expects nearly every industry and business to adopt generative AI in some form. The analysis is part of a 12-page internal document, titled "Generative AI Sales Playbook." The mainstream success of ChatGPT and other consumer apps has shown users how generative AI can improve search and productivity. Amazon's analysis shows that companies can use generative AI for even more tasks, such as drug discovery and development or misinformation governance and national security. The analysis mentions the Congressional Research Service, Hyundai, and Siemens among the companies already taking advantage of generative AI.

☆ F-16s for Ukraine: Kyiv would face big hurdles in using US-made jets
▼ + stars: | 2023-05-22 | by ( Brad Lendon | ) edition.cnn.com time to read: +9 min

CNN —Ukraine’s quest for US-made F-16 fighter jets received a big boost over the weekend when US President Joe Biden gave his backing for Kyiv’s pilots to be trained to fly them. In fact, one active duty F-16 pilot told CNN that expectations may be way too high. An F-16 Fighting Falcon fighter aircraft has its landing gear extended to land at the US military airfield at Spangdahlem, Germany. This is a multi-year process, and that’s just for the basic tactical unit of employment,” the F-16 pilot said. “To bring in Western aircraft, Ukraine might need to repave and potentially extend a number of runways, a process which Russia would likely detect.

CNN —A younger Congress may be a thing of the past. Ten years after meeting the age requirement for the Senate, age 30, baby boomers landed four seats, with millennials unable to get a single one. Millennials overtook baby boomers as America’s largest generation in 2020, according to Pew Research. Millennials and Generation Z (11-26) are winning their very first House seats faster than the previous four generations, CNN’s analysis shows. In the Senate, however, it’s taken more than 10 years for both Generation X and millennials to join Congress.

☆ The stealth F-22 Raptor's days are numbered, and the Air Force is officially looking for designs for the fighter jet's next-gen replacement
▼ + stars: | 2023-05-18 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

The Air Force is officially seeking designs for the next-gen fighter to replace the F-22 Raptor. "We will lose that edge if we don't move forward now," Frank Kendall, Air Force secretary, said. "No one does this better than the US Air Force, but we will lose that edge if we don't move forward now." There are two of these sixth-generation projects currently underway, one for the Air Force and the other for the Navy. The Air Force has pushed for the retirement of some earlier F-22s, but it has received pushback from Congress.

☆ 5 reasons G7 Summit 2023 in Hiroshima, Japan matters
▼ + stars: | 2023-05-18 | by ( Brad Lendon | ) edition.cnn.com time to read: +9 min

CNN —This year’s G7 meeting in Japan holds special significance, not only for its location. Japanese Prime Minister Fumio Kishida arrives at Hiroshima airport to attend the G7 leaders' summit in Hiroshima, Japan, on Thursday. Together with his wife Britta Ernst, German Chancellor Olaf Scholz boards an air force plane for his trip to Hiroshima and the G7 summit. The biggest challenge for the G7 leaders may be keeping that momentum going. Two of the biggest holders of that debt, Japan and Britain, will be at the table with Biden in Hiroshima.

CNN —Federal prosecutors have filed criminal charges against New York Rep. George Santos, the Republican lawmaker whose astonishing pattern of lies and fabrications stunned even hardened politicos, according to three sources familiar with the matter. Santos is expected to appear as soon as Wednesday at federal court in New York’s eastern district, where the charges have been filed under seal. Spokespeople for the Brooklyn US Attorney’s Office, the Justice Department and the FBI declined to comment. House Speaker Kevin McCarthy said he will look at the charges before determining if he thinks Santos should be removed from Congress. But as Santos’ past came under closer scrutiny, with large chunks of his official biography revealed to be conjured from nothing, he increasingly adapted the persona of a right-wing troll.

☆ House Judiciary Chair threatens to hold Google in contempt of Congress for failing to produce subpoenaed documents
▼ + stars: | 2023-05-08 | by ( Lauren Feiner | ) www.cnbc.com time to read: +4 min

House Judiciary Committee Chair Jim Jordan, R-Ohio, threatened enforcement action against Google that could include holding the company in contempt of Congress for failing to produce documents the committee subpoenaed to learn about tech company communications with the Biden administration. Jordan requested the companies comply by March 23. Congress can hold individuals in contempt for refusing to provide information requested by a committee. Alphabet didn't assert that those redactions included privileged information, according to Jordan, and the committee requires unredacted documents to be handed over. But those documents have yet to include an "appreciable volume" of several types of communications the committee assumes Google would have.

☆ The US once had a 'mini-default' on some of its debts because of a technical glitch. The minor mistake cost billions.
▼ + stars: | 2023-05-08 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +4 min

The incident caused Treasury yields to spike up by 60 basis points or 0.6 percent and cost billions long-term. The US is now flirting with a full default as Republicans in Congress demand spending cuts in exchange for paying America's debt. "Payment delays were chiefly due to back-office technical and organizational problems," according to a report by the Congressional Research Service, a nonpartisan public policy research institute of Congress. Congress has raised the debt ceiling multiple times under previous administrations without negotiations — including under President Donald Trump. President Joe Biden has refused to negotiate over the debt ceiling, while Republicans are also holding firm on their demands.

Landing of aircraft at night and in bad weather, for instance - crucial to regular offshore carrier operations - remain far from routine, several of the attaches and analysts said. "Carrier operations are a very complicated game, and China's got to figure this out all by itself. A new plane, the KJ-600, designed to perform a similar role to the E-2C/D Hawkeye launched from U.S. carriers, is still in testing, according to the Pentagon's latest annual report on China's military. Several countries operate aircraft carriers but the U.S. remains the most dominant, running 11 carrier battlegroups with global reach. A September editorial published in a magazine run by a PLA weapons manufacturer, titled "Four great advantages the PLA has in attacking Taiwan", did not mention the role of Chinese carriers.

The membership of the panel at Musk’s company, Neuralink, raises questions about potential violations of conflict-of-interest regulations aimed at protecting research integrity, a dozen animal-research and bioethics experts told Reuters. Autumn Sorrells has chaired an oversight board approving animal experiments by Elon Musk’s brain-chip startup, Neuralink, and also run the company’s animal care program. Reuters couldn’t determine the compensation terms of the Neuralink IACUC members who are also company employees. The independence of such boards, Nicolelis said, is critical to protecting the integrity of animal research that could impact humans in future clinical trials. These institutions generally prohibit people with direct financial interests from serving on IACUCs or voting on animal experiments.

☆ Factbox: U.S. debt ceiling: A 'clean' increase is not the rule
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +4 min

Republicans in the House of Representatives have passed legislation that would pair a $1.5 trillion increase in the debt ceiling with $4.8 trillion in spending cuts. Democratic President Joe Biden has insisted that Congress must pass a "clean" debt ceiling hike, without imposing other conditions. The House of Representatives automatically raised the debt ceiling 10 times between 1980 and 2010 when it passed its annual budget plan, under a rule named after Democratic leader Dick Gephardt. SUSPENDING ITCongress voted seven times between 2013 and 2019 to suspend the debt ceiling for a set amount of time, rather than raising it. That deal also reversed the usual calculus by allowing the president to raise the debt ceiling unless a majority of Congress voted against it, which they conveniently failed to do.

☆ Factbox: U.S. debt ceiling standoff: Platinum coins, the 14th Amendment could be paths out
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +5 min

14TH AMENDMENTSection Four of 14th Amendment to the U.S. Constitution, adopted after the 1861-1865 Civil War, states that the "validity of the public debt of the United States ... shall not be questioned." Some experts have suggested that Biden could invoke this amendment to raise the debt ceiling on his own if Congress does not act. BYPASS REPUBLICAN LEADERSHIPDemocrats and rank-and-file Republican allies in the House could bypass McCarthy and force a vote on a "clean" debt ceiling increase, free of spending cuts or other conditions. GET RID OF ITCongress could vote to abolish the debt ceiling entirely, which would eliminate the need to vote on the issue periodically but also erode Congress's authority on fiscal matters. Attempts to abolish the debt ceiling have gotten no traction in Congress in recent years.

April 14 (Reuters) - A federal appeals judge in Washington, D.C. is under investigation by her own court for allegedly failing to carry out her duties and refusing to respond to other judges' concerns, court officials at the U.S. Court of Appeals for the Federal Circuit said on Friday. The Federal Circuit acknowledged the probe in a Friday statement. It said court officials "all recognize and admire the lifelong contributions of the justly esteemed Judge Newman," and "are committed to fulfilling their difficult obligations in this process." Federal judges serve lifetime appointments in the United States. The average age of federal appeals court judges was about 65 in 2017, according to a report from the Congressional Research Service.

The decision propelled Israel into a national crisis with massive protests that forced Netanyahu to delay the move on Monday. "We haven't taken a hands-off approach," said a senior administration official. Dennis Ross, a veteran U.S. peace negotiator between Israelis and Arabs, said the Biden administration had expressed its misgivings about Israel’s judicial proposals but had done so privately where possible. Halie Soifer, chief executive officer of the Jewish Democratic Council of America, said the way the Biden administration has handled this crisis thus far is in keeping with Biden's commitment to the U.S.-Israel partnership. But, keeping a distance from Netanyahu, Biden has yet to invite him to visit the White House since the Israeli began his sixth term as prime minister in December.

Search resuls for: "Congressional Research Service"

25 mentions found