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Related storiesExactly how overloaded the Russian rail network may be isn't clear. Despite the humiliation of foreign troops occupying Russian soil, Russian forces continue to grind forward in bloody attacks at places such as Pokrovsk, in the Donetsk region. Relying on trucks would require an extraordinary number of vehicles, so it seems likely that Russian forces at Kursk will require multiple railheads that depend on a limited number of railroad bridges. However, Ukraine has captured data about the Russian railway system, which will make it easier to disrupt operations, Fraser noted. Barros believes that Ukraine could seriously disrupt Russian rail traffic and logistics if the US would lift those restrictions.
Persons: , We've, George Barros, ZwsdIWSBwg, — Rob Lee, Ben Hodges, Kyiv's, Barrow, Oleg Palchyk, Callum Fraser, Fraser, Biden, Barros, Michael Peck Organizations: Service, Business, Belarusian, Moscow Railway, Moscow Railways, Russian Railways, Study, UR, 101st Airborne Division, US Army, Interior Ministry, FSB, Kremlin, Getty, Britain's Royal United Services Institute, Ukraine, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Los Angeles, Russia, railheads, Kursk, Russian, Orel, Belarus, Smolensk, Moscow, Ukrainian, Washington, Belgorod, Europe, Ukraine, Donetsk, Bryansk, Russia's Kursk, Kharkiv, Leningrad, Oryol, Voronezh, Forbes
A South African rail agency's chief engineer claimed to have a master's degree and a doctorate. In reality, he only had a high-school education. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Daniel Mthimkhulu, 49, got away with the deception for years but is now expected to spend a decade and a half behind bars.
Persons: , hadn't, Daniel Mthimkhulu Organizations: Service, Business Locations: South Africa's
Dozens of boats zipped across Casco Bay during the Maine Lobster Boat Races on Saturday. That boat, a 32-footer with a powerful diesel engine, belonged to Jeremy Beal, 45, a large, soft-spoken man who comes from a long line of boat builders and lobstermen. “See, I grew up right in it,” he said between drags of a cigarette while leaning against the rail of his boat on the evening before the big race. For decades, Mr. Beal’s father, Wayne Beal, and an uncle, Calvin Beal, have built boats used by commercial fishers up and down the Maine coast. After years spent learning the family trade, Jeremy took over his dad’s business, Wayne Beal’s Boat Shop, in Jonesport, a seaside town more than 200 miles northeast of Portland.
Persons: Jeremy Beal, , Beal’s, Wayne Beal, Calvin Beal, Jeremy Organizations: Wayne Locations: Casco, Maine, Jonesport, Portland
Sydney Metro Expands, Opening to Celebrity-Level Fanfare
  + stars: | 2024-08-23 | by ( Yan Zhuang | ) www.nytimes.com   time to read: +2 min
This week’s issue is written by Yan Zhuang, an Australian reporter in the Seoul bureau (who is very excited about the metro). A key segment of Sydney’s new metro train line opened early on Monday with a level of fanfare usually associated with celebrity appearances or pop concerts. The new section, which connects Sydenham, an inner-west neighborhood of Sydney, to Chatswood, in the north, runs under the city’s business district and crosses under the Harbor Bridge. It is the second part of the metro project to open, after a northern section that started operating in 2019. The news media covered the opening in breathless terms.
Persons: Yan Zhuang, David Levinson, marveled, Organizations: University of Sydney, ABC, ” Broadcasting, New Locations: Australia, Australian, Seoul, Sydney, Sydenham, Chatswood, , New South Wales
As Ukrainian forces fight to isolate a large group of Russian soldiers caught between a river in Russia’s Kursk Province and the Ukrainian border, Kyiv has launched a series of strikes at airfields, ports and oil depots in Russia aimed at degrading the Kremlin’s war effort. A Ukrainian missile strike on the Russian port of Kavkaz hit a large cargo ferry laden with fuel on Thursday, triggering a towering blaze at the facility, according to Russian and Ukrainian officials as well as video posted to social media channels. Kavkaz is one of the country’s largest passenger ports and the main ferry terminal connecting Russia with Crimea. “This ferry is one of the key links in the Russian military logistics chain, primarily for supplying the occupying forces with fuel and lubricants, but it also transported weapons,” a Ukrainian Navy spokesman, Dmytro Pletenchuk, said in a statement. The attack on the transit hubs came after strikes on the only bridge linking Crimea to Russia over the Kerch Strait left it damaged, forcing Moscow to increasingly rely on large ferries capable of carrying rail cars to support its occupation forces on the peninsula, which it annexed in 2014.
Persons: , Dmytro Pletenchuk Organizations: Ukrainian Navy Locations: Russia’s Kursk Province, Ukrainian, Kyiv, Russia, Crimea, , Kerch, Moscow
A striking Teamsters union worker pickets outside Canadian National Railway's (CN) headquarters after being locked out by the company in Montreal, Quebec, Canada August 22, 2024. REUTERS/Evan BuhlerWorkers at Canadian National Railway will begin returning to work on Friday, the Teamsters union said, hours after the Canadian government moved to end an unprecedented rail stoppage. In a new statement during the early hours on Friday, the Teamsters union posted on X that it had taken down picket lines at CN. The rail companies previously said they were forced into the lockouts to avoid strikes at short notice. Paul Boucher, head of the Teamsters rail union, had accused CN and CPKC of being "willing to compromise rail safety and tear families apart to earn an extra buck".
Persons: Evan Buhler, CPKC, Steven MacKinnon, MacKinnon, Jonathan Abecassis, Justin Trudeau, Trudeau, Paul Boucher, Jagmeet Singh Organizations: REUTERS, Evan Buhler Workers, Canadian National Railway, Teamsters, Canadian Pacific, Canadian Industrial Relations, Canadian Pacific Kansas City, Canadian, Labour, CN, Canadian Broadcasting Corp, Liberal, Reliant, Canadian Manufacturers, New Democratic Party, Ottawa Locations: Montreal, Quebec, Canada, Canadian Pacific Kansas City, United States, Toronto, Vancouver
A study on long Covid fails to bring researchers closer to finding a diagnostic test. Why there’s no test yet for long CovidAn estimated 17 million people have long Covid, but identifying people with the condition still can't be achieved with one diagnostic test, researchers said this week. So “clinicians are left to continue doing what we have done in the past,” which is to rule out other potential health conditions rather than diagnosing long Covid, they said. The study is part of the National Institute of Health’s RECOVER Initiative, a billion-dollar-plus effort launched in 2021 to research causes and treatments of long Covid. The Freedom Caucus added that in the event of a stopgap bill, funding should be “extended into early 2025” to avoid passing a funding bill that “preserves Democrat spending.” Both demands would spark a standoff with Democratic lawmakers.
Persons: Donald Trump, Kamala Harris, Trump, Harris, Kevin McCarthy, Joe Biden, Oleksandr Syrskyi, Vladimir Putin, Putin, Aleksei Smirnov, Karen Bass, S. Organizations: Los Angeles, Trump, Former, Fox News, Kremlin, Los Angeles —, Lacrosse, Flag Locations: Florida, Ukraine, Kursk, Ukrainian, L.A, Paris, Los Angeles, Angeles, 4 e
Lacrosse, cricket, baseball and softball — by way of Oklahoma City — are set to make their Olympic returns to L.A. 2028. Breaking, the New York-rooted, 1980s dance form, appeared to be well-received here in Paris but wasn't invited to the L.A. party. The fledgling World Boxing hopes to be that new international body that can gain enough support from national boxing federations to fill the IBA void. Spain's Enmanuel Reyes Pla is punched by Belgium's Victor Schelstraete in the men's 92kg quarter-final boxing match during the Paris 2024 Olympic Games. The mayor pointed out that predictions of traffic armageddon in 1984, when the Olympics were last in L.A., never materialized.
Persons: Luke Hales, wasn't, Ami, Elsa, Eric Quinlan, Alison Palaia, , ” Palaia, “ We’ve, , Palaia, Roland, Spain's Enmanuel Reyes Pla, Belgium's Victor Schelstraete, Mohd Rasfan, Paris, Boris Van Der Vorst, Karen Bass, Bass, “ Angelinos, ” Bass, Vivianne Robinson, Sebastian Kahnert, I'm Organizations: PARIS, Lacrosse, Flag, Team Japan, India, Team Netherlands, Olympics, Boxing Association, Boxing, Garros, Getty, NFL, Associated Press, Santa Monica Locations: Los Angeles, Oklahoma, L.A, New York, Paris, U.S, New York City, Brisbane, Russian, AFP, Inglewood, COVID, Southern California
Los Angeles is already looking ahead. The projects are funded through a mix of federal and city dollars as well as airport fees. And there will also be the tourist dollars spent while the Games take place. The city sees the Olympics as a revenue producer, not an expense. In 2019, two years after Los Angeles was awarded the Games, Eric Garcetti, then the mayor, said he expected the city to turn a $1 billion profit.
Persons: Angeles, Eric Garcetti Locations: Paris, Los Angeles
Debby's influence remained strong on Friday, when the National Weather Service warned that rainfall could reach 15 to 25 inches in the Northeast and New England. Major flooding hit Tioga County, Pennsylvania, and neighboring Steuben County, New York. Binghamton, New York, measured 1.94 inches of rain and Avoca, Pennsylvania, saw 1.43 inches, according to the service. More than 362,000 utility customers in Ohio, New York, Pennsylvania, New Jersey and Vermont were without power early Friday evening, according to utility tracker PowerOutage.us. Authorities in Berkeley County, South Carolina, said early Friday that 2 to 3 feet of fast-moving water was rushing through streets of Moncks Corner, north of Charleston, prompting multiple rescues.
Persons: Debby, Kathy Hochul, Josh Shapiro, Hochul, Way, Marc Rice, Shane Nickerson, John F, Roy Cooper Organizations: National Weather Service, . New York Gov, Tahesha, Pennsylvania, Hershey, LaGuardia Airport, John, Kennedy International, Amtrak, Penn, York Yankees, Texas Rangers, Station, Washington , D.C, Richmond Staples, Gov, Emergency Management Locations: New England, East, Carolinas, Vermont, Canada, Northeast, South Carolina, New Jersey, Tioga County , Pennsylvania, Steuben County , New York, Tioga County, Steuben, Addison, Jasper, Steuben County, Johnson City , New York, Pennsylvania, Syracuse , New York, Binghamton , New York, Avoca , Pennsylvania, Ohio , New York , Pennsylvania, United States, New York, New, Stamford , Connecticut, Friday's, Washington ,, Richmond, Virginia, Berkeley County , South Carolina, Charleston, , South Carolina, Great, Mississippi, Minnesota
In their winning bid to host the 2028 Summer Olympics, Los Angeles leaders pledged that the city’s version of the Games would be the greenest ever — a goal they planned to achieve in large part by making access to the event “car-free.”It was a bold statement because, well, it’s Los Angeles. Could America’s capital of car culture, where traffic shapes daily life more than the weather, really pull that off? Now that the Paris Olympics have ended, the clock is ticking. Los Angeles must complete much-needed upgrades to the region’s transit system to handle an influx of athletes and visitors without bringing car traffic to a standstill. “I’m optimistic,” said Eli Lipmen, the executive director of Move L.A., an organization that advocates for the expansion of public transit in the region.
Persons: , Eli Lipmen Organizations: Los Angeles, Paris Locations: Los, Los Angeles, Angeles
A third teenager has been arrested in connection with a foiled attack on now-canceled Taylor Swift concerts in Vienna. The foiled attack was planned for Thursday or Friday, according to Austria’s interior minister, Gerhard Karner. Taylor Swift fans gather in Vienna. Authorities display a photo of a man arrested in connection with a plot to attack Taylor Swift's Eras Tour in Vienna, Austria. The U.S. State Department and the broader U.S. government have been in contact with Austrian officials about the alleged plot, State Department spokesperson Matthew Miller said.
Persons: Taylor Swift, Gerhard Karner, Karner, Ernst Happel, Thomas Kronsteiner, Karl Nehammer, , ” Nehammer, it’s, ” Swift, Sadiq Khan, We’re, ” Khan, Swift, , Southport , England Peter Powell, , Omar Haijawi, Franz Ruf, Taylor, Roland Schlager, Pirchner, Matthew Miller, “ Taylor, Pedro Gomes, TAS24, Elle, Magnus Ranstorp Organizations: Austrian, Authorities, Islamic State, Investigators, Ernst, London’s Wembley, London, Manchester Arena, Getty, Islamic, of State Security, Intelligence, Ministry of, Interior, CIA, U.S . State Department, State, ” Barracuda, Barracuda Music, Estadio da Luz, Las, Strip, Swedish Defense University, Associated Press Locations: Vienna, al Qaeda, Europe, Gelsenkirchen, Austria, Ariana Grande, Manchester, England, Southport , England, AFP, Ternitz, Austrian, Lisbon, Portugal, United Kingdom, Stockholm
Prior to the company’s demise, it had looked like Europe was poised for something of a night train revolution. Despite this demand, the hurdles for startups like Midnight Train trying to enter the market to meet it remain virtually insurmountable. Formidable obstaclesEuropean Sleeper is one of the few new night train operators to begin services, but the company has struggled to find rolling stock. “Politicians must be clear: the night train market will be effectively closed for a very long time,” he says. With the honorable exception of Nightjet, which plans to expand rapidly over the next five years, European night train services have yet to match the hype.
Persons: Adrien Aumont, Eva Plevier, Alex Halada, , ÖBB, Nick Brooks, , , Bart Biesemans, ” Brooks, Mark Smith, Robert Nemeti Organizations: CNN, Trains, Midnight Trains, Regiojet, Compagnie Internationale des, Orient Express, Getty, Austrian Federal Railways, Reuters, Barcelona, European Union, Swiss Federal Railways, Deutsche Bahn, Italian State Railways, Formidable, EU Locations: Europe, Stockholm, Denmark, Germany, Czech, Czechia, Slovakia, Ukraine, Prague, Croatia’s, Brussels, Amsterdam, Berlin, , France, Barcelona, AFP, Spanish, Paris, Milan, Venice, Florence, Rome, Hamburg, Copenhagen, Madrid, Porto, Edinburgh, Anadolu, Vienna, Austria, Italy, Hungary, Poland, Belgium, Netherlands, Sweden, Sicily, Messina, Europe’s
How Online Hatred Toward Migrants Spurs Real-World Violence Social media posts assailing immigrants have fomented a climate of fear and hatred in Britain, Portugal and other countries. It followed months of vitriol on social media that came not only from disgruntled Portuguese, but also from prominent far-right figures inside and outside the country. “It’s not up-to-date for the social media age,” Leo Varadkar, the prime minister then, said. Asked whether he believes his social media posts contribute to violence, Mr. Robinson responded: “I believe the teachings in the Koran contribute to violence. July 29 1:42 p.m.Not much info yet, but it will be a Muslim culprit followed by violence protests 1:49 p.m.
Persons: , Rita Guerra, Patience, ” Lee Marsh, , Elon Musk, X, Musk, TikTok, we’re, ” Tommy Robinson, Donald J, Trump, Joel Finkelstein, Tony Craig, “ It’s, , ” Leo Varadkar, He now, Ro, rie, Marc, iona, Robinson, e, ari, rance Organizations: YouTube, Spurs, Center for Psychological Research, Italy British, Protesters, Sunderland, PA, Agence France, Institute for Strategic, Elon, Meta, The New York Times, National, Counterterrorism, Security, Network, Research, Staffordshire University, Reuters, Ireland, unc, rit Locations: Portugal, Portuguese, Lisbon, Porto, Britain, Germany, Ireland, Europe, Southport, Liverpool, Syrian, Wales, Italy, The Netherlands, Greenwich, London, United States, Russia, Netherlands, Leeds, Chester, New Jersey, England, Algeria, Dublin, Coolock
The previously nondescript city in the eastern Chinese province of Shandong became one of China’s hottest spots for domestic tourism last year thanks to its affordable and juicy skewered meat. They’re known as “special forces travelers” because, like soldiers, they move from one checkpoint to another under incredibly tight schedules, often over weekends or short holidays. For the first half of this year, 29.22 million foreign nationals entered and exited, according to the latest figures. But the flash-mob-style approach of “special forces travelers” – switching from one community to the next – has called into question whether that type of domestic tourism is sustainable in the long term. Pan Wenbo, also from Beijing, said his favorite spots included Xi’an, home of the Terracotta Warriors, and Datong, a northern Chinese city known for ancient Buddhist architecture - both offering more affordable accommodation and food.
Persons: ” Zibo, Cici Li Yuetong, , , Li, ” Li, Pan Wenbo, Jiumei, Yang ”, Yang, Mimi Li Organizations: Hong Kong CNN, National Immigration Administration, University, Cici, Warriors, China News Service, CNN, Labor, Hong Kong Polytechnic University Locations: Hong Kong, Zibo, Shandong, Beijing, China, Datong, Gansu, Tianshui City, Gansu Province, Weibo, Hong
Check out the companies making headlines before the bell: Palantir Technologies — The data analytics company rallied 11% after raising its full-year revenue forecast. Yum China — Shares surged 8% after the Shanghai-based operator behind Pizza Hut and Taco Bell posted second-quarter earnings that beat expectations. Adjusted earnings of 55 cents per share topped the 47 cents per share anticipated by analysts surveyed by LSEG. Earnings came in at 47 cents per share, topping the 31 cents expected from analysts polled by LSEG. CSX reported earnings of 49 cents per share in the second quarter, above the 48 cents anticipated by analysts in an LSEG survey.
Persons: Taco Bell, Piper Sandler, ZoomInfo, LSEG, Lucid, — CNBC's Michelle Fox, Fred Imbert, Jesse Pound Organizations: Technologies, Taco, LSEG, Revenue, Caterpillar, Nvidia, Micro Computer, Broadcom, Intel, CSX Locations: China, Shanghai
Buzz has been in short supply in southern Sardinia for some time now — some would say ever since the decline of the region’s Bronze Age Nuragic civilization. Yet on Italy’s second largest island, where sheep vastly outnumber people, there’s unmistakable new energy in Cagliari, its small Mediterranean capital, and the surrounding countryside. “We used to think of ourselves as rustic, as isolated in this island backwater,” a local lay historian, Venturino Vargiu, told me, as we watched the city’s annual folk costume extravaganza of Sant’Efisio. “But Sardinians are starting to understand that our culture has real value for us and for outsiders.”In Cagliari, there’s a surge in pride, along with a wave of new development, mostly aimed at increasing the already growing numbers of tourists. A light-rail line will connect the Marina with Cagliari’s hinterlands, and a new port, projected for 2026, is being constructed to move cruise ships farther away, allowing the yacht set to dock (and spend money) in Cagliari’s center.
Persons: Buzz, Venturino Vargiu, , Stefano Boeri Locations: Sardinia, Cagliari, , there’s, Marina, Cagliari’s
Check out the companies making the biggest moves midday: Kenvue — The maker of Band-Aid bandages rallied 14% after beating analysts' estimates for its second quarter. Kenvue, which spun off from Johnson & Johnson last year, posted adjusted earnings of 32 cents per share, versus the 28 cents expected from analysts polled by FactSet. Palantir now anticipates revenue between $2.742 billion and $2.750 billion, up from its previous guidance of $2.68 billion to $2.69 billion. Caterpillar's adjusted earnings totaled $5.99 per share in the second quarter, beating the $5.55 per share estimate from analysts polled by FactSet. CrowdStrike — Shares rose 3% after Piper Sandler upgraded CrowdStrike to overweight from neutral, saying the dip in the cybersecurity stock following the global tech outage is a buying opportunity.
Persons: Johnson, FactSet, Taco Bell, ZoomInfo, LSEG, Lucid, BioMarin, CrowdStrike, Piper Sandler, , Sarah Min, Sean Conlon, Yun Li, Jesse Pound Organizations: Johnson, FactSet, Revenue, Caterpillar, Lumen Technologies, Molson Coors Beverage —, Technologies, LSEG, Taco, CSX —, CSX, BioMarin Pharmaceutical Locations: China, Shanghai
Palantir posted adjusted earnings of 9 cents per share on $678 million in revenue. Lucid Group — Shares surged 6% after second-quarter estimates surpassed Wall Street estimates. The electric vehicle company reported revenue of $200.6 million , while analysts polled by LSEG forecast $192 million. CSX notched earnings of 49 cents per share in the second quarter, while analysts polled by LSEG expected 48 cents a share. Simon Property Group topped second-quarter revenue estimates, but posted in-line earnings.
Persons: Palantir, LSEG, AeroSystems, CNBC's Brian Evans, Sarah Min Organizations: Palantir Technologies, Wall, LSEG, CSX Corp, CSX, Semiconductor, Nvidia, Computer, Broadcom, Arm Holdings, Intel, Boeing, Avis Budget, Technologies, ZoomInfo Technologies, Simon Property, Simon Property Group Locations: LSEG .
Behind the scenes, 5G infrastructure is powering live broadcasts worldwide and the moments spectators and athletes capture and post on social media. After the event, it became a hub for YouTubers and other content creators because of its gigabit-speed internet connectivity. In the lead-up to the Games, connectivity infrastructure was embedded in the London Underground light-rail network and the Westfield shopping center in Stratford. 5G technology wasn't adopted at a consumer level until 2019, and Japan's 5G-infrastructure rollout was delayed by the COVID-19 pandemic. In 2022, the 5G technology was fast enough that train riders could watch the opening ceremony on their personal devices.
Persons: , Rolf Werner, Werner, Sandeep Raithatha, Raithatha, That's Organizations: Service, Nokia, Virgin Media O2, 5G, Stratford Halo Virgin Media O2, Games, Stratford, Stratford . Communities, Tokyo, Olympics Locations: Paris, Europe, London, Tokyo, Westfield, Stratford ., Japan, Beijing, China
The Justice Department on Tuesday accused Norfolk Southern, one of the country’s largest freight railroad companies, of violating federal law by delaying Amtrak passenger trains along the route between New Orleans and New York. In a complaint filed in U.S. District Court for the District of Columbia, the Justice Department said Norfolk Southern failed to give Amtrak passenger trains preference over freight trains, as it is required to do under federal law. “Norfolk Southern regularly fails to do so, leading to widespread delays that harm and inconvenience train passengers, negatively affect Amtrak’s financial performance and impede passenger rail transportation,” according to the complaint. “Americans should not experience travel delays because rail carriers break the law,” Attorney General Merrick B. Garland said in a statement. “Our action today alleges that Norfolk Southern violates federal law by failing to give the legally required preference to Amtrak passenger trains over freight trains.”
Persons: General Merrick B, Garland Organizations: Department, Norfolk Southern, Amtrak, District of Columbia, Justice Department Locations: New Orleans, New York, U.S, Southern
CNN —The Justice Department said Tuesday it filed a civil lawsuit against Norfolk Southern, alleging the company knowingly created large delays for Amtrak passengers traveling between New York and New Orleans. Norfolk Southern said it has worked with Amtrak and states to expand passenger service and is committed to complying with the law. “Over the past several months with Amtrak, we have focused on the on-time performance of the Crescent passenger train. On another occasion, dispatchers made an Amtrak train wait over an hour while allowing three separate freight trains to pass, officials said. This photo taken with a drone shows the cleanup of portions of a Norfolk Southern freight train that derailed in East Palestine, Ohio, in 2023.
Persons: General Merrick Garland, , Tom Crosson, , Gene J, CNN’s Chris Isidore, Holly Yan Organizations: CNN, The Justice Department, Norfolk, Amtrak, Department, , Crescent, Norfolk Southern, Justice Department, Environmental Protection Agency, National Transportation Safety Board, NTSB Locations: New York, New Orleans, Washington ,, Norfolk Southern, East Palestine , Ohio, East Palestine
But, as events this week in Paris have once again shown, when it comes to women’s skating, Japan’s teenage girls are on fire. Fourteen-year-old Coco Yoshizawa’s late surge helped her beat compatriot Liz Akama, 15, to the gold medal at La Concorde Urban Park, Paris on Sunday. Sakura Yosozumi, then 19, and Kokona Hiraki, then 12, topped the 2021 Tokyo women’s park event. “Since there’s no age limit for skateboarding at the Olympics, any youngsters can compete,” Hiraki, the youngest Olympic medalist since 1936, told CNN in July. Lars Baron/Getty ImagesSkewing youngJapan aside, women’s skateboarding across both categories is dominated by teenage athletes.
Persons: Coco Yoshizawa’s, Liz Akama, ” Yoshizawa, Yuto Horigame, Jagger Eaton, Nyjah Huston, Horigame, Momoji Nishiya, Sakura Yosozumi, Kokona Hiraki, Brown, ” Hiraki, Julian Finney, , Junnosuke Yonesaka, Yonesaka, , ” Akama, Lars Baron, Rayssa Leal, Cui Chenxi, Zhang Haohao, , China’s, Mazel Paris Alegado, Trew, Hiraki –, , it’s Organizations: CNN, Team Japan, Concorde Urban, , Paris Olympics, Tokyo Games, Urban Sports, Olympic, Concorde, Getty, Japan, Association, Paris, Asian Games Locations: Japan, Paris, Tokyo, France, China, Philippines
Britain's Finance Minister Rachel Reeves has pledged to make the "necessary", "urgent" and "incredibly tough" choices to restore the country's economic stability. Britain's Finance Minister Rachel Reeves on Monday announced a raft of project cuts after detailing how the newly elected Labour government has inherited a projected overspend of £22 billion ($28.2 billion) from the center-right Conservatives. The finance minister also said she had canceled plans to sell NatWest shares to the public, saying the proposal put forward by her predecessor Jeremy Hunt did not "represent value for money." Britain's finance chief has previously ruled out increases to income tax, national insurance, VAT or corporation tax — the main sources of government revenues. However, Reeves must orchestrate a delicate balance act given the pledges from her party to also boost national investment and public sector pay.
Persons: Rachel Reeves, Reeves, Boris Johnson, Jeremy Hunt Organizations: Britain's, Monday, Labour, Railways Fund, Conservative, NatWest
Britain’s Labour government said it was making “difficult decisions” concerning the budget, including cutting some road and rail projects and pension benefits, after accusing its predecessor, the Conservative Party, of leaving the country’s finances in a mess. Rachel Reeves, the chancellor of the Exchequer, said on Monday that there was a hole of 22 billion pounds (about $28 billion) in the country’s coffers this year because spending needs had exceeded expected revenue. Ms. Reeves accused the Conservative Party of making spending commitments on plans such as road repairs and building new hospitals “knowing the money wasn’t there.” Some of those plans would scrapped or reviewed. “The scale of this overspend is not sustainable,” Ms. Reeves told lawmakers in Parliament. She will present a full budget to lawmakers at the end of October.
Persons: Rachel Reeves, Reeves, Ms Organizations: Labour, Conservative Party Locations: Rwanda
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