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☆ What the Fed’s Interest-Rate Increase Means for Your Money
▼ + stars: | 2023-03-22 | by ( Oyin Adedoyin | ) www.wsj.com time to read: 1 min

The bar Americans have to clear to get approved for loans and credit cards will likely rise along with interest rates, partly as a result of the fallout from the collapse of Silicon Valley Bank. The Federal Reserve raised interest rates another 0.25 percentage point on Wednesday. Though that is on the smaller end of interest-rate increases over the past year, recent troubles across the banking industry, caused in part by higher rates, will lead banks to toughen lending standards, compounding the effect of the increase, financial analysts and advisers say.

☆ Factbox: Legal hurdles faced by LGBT+ people in Africa
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +3 min

Africa accounts for nearly half of the countries worldwide where homosexuality is outlawed, according to the review, which was last updated in December 2020. - Life imprisonment is the maximum penalty for same-sex relations in Sudan, Tanzania, Uganda and Zambia, while jail terms of up to 14 years are possible in Gambia, Kenya and Malawi. - Broad protection against discrimination based on sexual orientation exists in three countries: Angola, Mauritius and South Africa. - South Africa is the only African country where gay marriage is legal and where the constitution protects against discrimination based on sexual orientation. However, South Africa has high rates of rape and homophobic crime.

☆ What the Fed’s Next Interest-Rate Move Means for Your Money
▼ + stars: | 2023-03-21 | by ( Oyin Adedoyin | ) www.wsj.com time to read: 1 min

The bar Americans have to clear to get approved for loans and credit cards will likely rise along with interest rates, partly as a result of the fallout from the collapse of Silicon Valley Bank. The Federal Reserve is expected to raise rates again Wednesday, though some economists say it could hit pause this month or in coming months. Regardless, recent troubles across the banking industry, caused in part by higher rates, will lead banks to toughen lending standards, financial analysts and advisers say.

☆ Canada's B.C. province sets high emissions bar for new LNG projects
▼ + stars: | 2023-03-17 | by ( Nia Williams | ) www.reuters.com time to read: +4 min

[1/2] The entrance to Shell's LNG Canada project site is shown in Kitimat in northwestern British Columbia on April 12, 2014. While the tougher regulation will not impact the huge Shell-led (SHEL.L) LNG Canada project already under construction, a proposed export terminal adjoining the small-scale Tilbury LNG facility and the early-stage Ksi Lisims LNG project in northern B.C will fall under the new rule. The province will start exporting 14 million tonnes per annum (MTPA) when LNG Canada enters service in 2025. "That (net-zero requirement) is a very high bar and a high hurdle to pass," said Mark Zacharias, executive director of think-tank Clean Energy Canada, adding the new framework rounds out B.C. 's new regulations also include an oil and gas emissions cap and plans to accelerate the electrification of the economy.

Responding to SVB’s failure, the central bank promised to make available additional liquidity to banks and other deposit-taking institutions. By reassuring depositors, the central bank aims to prevent runs on other institutions and contagion through the financial system. And by promising to buy high-quality assets at face value, the central bank is trying to forestall a fire sale that could depress valuations and become self-reinforcing. POLICY AND SUPERVISIONThe central bank’s intervention has highlighted the complex interaction between monetary policy and bank supervision. But given the spillovers between monetary policy and supervision, the offer of additional liquidity is probably not enough to insulate monetary policy from financial stability considerations.

Companies Alphabet Inc FollowALEXANDRIA, Virginia, March 10 (Reuters) - A U.S. federal judge said on Friday that a Justice Department lawsuit against Alphabet's (GOOGL.O) Google regarding its dominance of advertising technology would remain in Virginia, rejecting Google's bid to move it to New York. "I am going to rule against you," Judge Leonie Brinkema told an attorney for Google. Google has denied any wrongdoing in running its ad tech business. Eric Mahr, an attorney for Google, argued that there was a risk of an inconsistent judgment if the case were not moved to New York. Wood also said there were "meaningful differences" between the Justice Department's case and many of the New York cases.

☆ Effort to Ban Stock Trading Among Executive Branch Officials Renewed
▼ + stars: | 2023-03-05 | by ( Andrew Ackerman | Rebecca Ballhaus | ) www.wsj.com time to read: 1 min

Sen. Josh Hawley of Missouri introduced a bill that would ban lawmakers and their spouses from owning or trading individual stocks last year but it didn’t move forward. WASHINGTON—Sen. Josh Hawley (R., Mo.) is expected to introduce legislation Monday that would ban senior executive branch officials from owning or trading individual stocks, a push to toughen restrictions on conflicts of interest in the federal government. Mr. Hawley’s bill is the latest fallout from a Wall Street Journal series that identified a sweeping pattern of financial conflicts across the executive branch, including finding that more than 2,600 officials invested in companies overseen by their agencies.

☆ Brazil’s Right Eagerly Awaits Former President Jair Bolsonaro’s Return
▼ + stars: | 2023-02-17 | by ( Luciana Magalhaes | Samantha Pearson | ) www.wsj.com time to read: 1 min

SÃO PAULO—Conservative Brazilian lawmakers welcomed former President Jair Bolsonaro ’s announcement that he plans to end his self-exile in Florida and return home, saying they hope the right-wing leader can marshal opposition to the leftist government’s plans to raise taxes, toughen gun laws and increase the state’s role in the economy. “He has the confidence of 58 million people, it’s undeniable that he’s influential and a political force,” said a prominent congressman, Deltan Dallagnol, referring to the number of votes cast for Mr. Bolsonaro in his losing reelection effort in October against Luiz Inácio Lula da Silva .

☆ Take Five: The truth about inflation
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +5 min

That puts Tuesday's U.S. inflation data on the must-watch list. 1/ INFLATION BETSurprisingly strong January U.S. jobs data forced markets to rethink the view that interest rates will peak soon. Now, Tuesday's latest inflation figure is the next big test for where the Federal Reserve takes rates in coming months. Stock markets are confident that the Fed can bring down inflation without triggering a sharp growth slowdown. January's inflation report on Wednesday could show double-digit price rises, meaning no respite yet on the interest-rate front.

☆ Republican senators seek to reverse U.S. heavy-duty truck emissions rule
▼ + stars: | 2023-02-09 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Feb 9 (Reuters) - A group of 34 Republican senators said on Thursday they would seek to overturn U.S. Environmental Protection Agency (EPA) rules that aim to drastically cut smog- and soot-forming emissions from heavy-duty trucks. Under the Congressional Review Act, a simple majority vote in both chambers of Congress can reverse recently finalized rules. The new EPA rules target heavy-duty truck and engine manufacturers by tightening yearly emissions limits and changing key provisions of existing rules to ensure emissions reductions in long-term road use. Separately, the EPA plans to propose by next month "Phase 3" greenhouse gas (GHG) standards for heavy-duty vehicles and new emissions standards for light- and medium-duty vehicles. Transportation is the largest source of U.S. GHG emissions, making up 29%, and heavy-duty vehicles are the second-largest contributor at 23%.

WASHINGTON, Feb 7 (Reuters) - President Joe Biden pledged to work with the opposition party on Tuesday in a State of the Union speech that served as an olive branch to skeptical Republicans and a blueprint for his 2024 re-election bid. The White House has said Biden will not negotiate over that necessity; Republicans want spending cuts in exchange for their support. McCarthy said earlier on Tuesday that he would not rip up Biden's speech, referencing the actions of former Speaker Nancy Pelosi after Trump's 2020 State of the Union address. He said he urged Biden not to use the phrase "extreme MAGA Republicans" in his speech, a reference to Trump's "Make America Great Again" slogan. Some House Republican lawmakers have questioned Biden's victory in the 2020 presidential race against Trump, vowing to investigate his Cabinet and family.

"To my Republican friends, if we could work together in the last Congress, there is no reason we can’t work together in this new Congress," Biden, a Democrat, will say, according to excerpts of the speech released by the White House before the speech scheduled for 9 p.m. One test of that challenge will be the White House push to raise the $31.4 trillion debt ceiling, which must be lifted in the coming months to avoid a default. The White House has said Biden will not negotiate over that necessity; Republicans want spending cuts in exchange for their support. He said he urged Biden not to use the phrase "extreme MAGA Republicans" in his speech, a reference to Trump's "Make America Great Again" slogan. Some House Republican lawmakers have questioned Biden's victory in the 2020 presidential race against Trump, vowing to investigate his Cabinet and family.

WASHINGTON, Feb 7 (Reuters) - U.S. President Joe Biden will declare U.S democracy is bruised but "unbowed and unbroken" on Tuesday in a State of the Union speech that will serve as an olive branch to skeptical Republicans and a blueprint for his 2024 re-election bid. "To my Republican friends, if we could work together in the last Congress, there is no reason we can’t work together in this new Congress," Biden, a Democrat, will say, according to excerpts of the speech released by the White House ahead of the speech scheduled for 9 p.m. Biden's public approval rating edged one percentage point higher to 41% in a Reuters/Ipsos opinion poll that closed on Sunday. McCarthy said on Tuesday that he would not rip up Biden's speech, referencing to the actions of former Speaker Nancy Pelosi after former President Donald Trump's 2020 State of the Union address. He said he urged Biden not to use the phrase "extreme MAGA Republicans" in his speech, a reference to Trump's "Make America Great Again" slogan.

Biden's public approval rating edged one percentage point higher to 41% in a Reuters/Ipsos poll that closed on Sunday. In the speech, Biden will hail the resilience and strength of the U.S. economy, which saw unemployment drop to a nearly 54-year low in January, while pledging continued efforts to lower inflation and protect Social Security and other benefits. [1/3] The U.S. Capitol building is seen on the day of U.S. President Joe Biden's State of the Union Address to a joint session of Congress on Capitol Hill in Washington, U.S., February 7, 2023. He will push Congress to require background checks for all gun sales and ban assault weapons, the White House said, although the prospects for passage remain slim. McCarthy said on Tuesday that he won't rip up Biden's speech, referencing the actions of former Speaker Nancy Pelosi after former President Trump's 2020 State of the Union address.

WASHINGTON, Feb 7 (Reuters) - U.S. President Joe Biden will face Republicans who question his legitimacy and a public concerned about the country's direction in Tuesday's State of the Union speech that is expected to serve as a blueprint for a 2024 re-election bid. Biden's public approval rating edged one percentage point higher to 41% in a Reuters/Ipsos poll that closed on Sunday. Reforms in policing will loom large in Biden's speech after the death of Tyre Nichols, a Black man fatally beaten by officers in Memphis, Tennessee last month, with his mother and stepfather to be guests of first lady Jill Biden. He will also run through a wish list of economic proposals, many of which are unlikely to be passed through Congress, the White House said. [1/3] The U.S. Capitol building is seen on the day of U.S. President Joe Biden's State of the Union Address to a joint session of Congress on Capitol Hill in Washington, U.S., February 7, 2023.

REUTERS/Elizabeth FrantzWASHINGTON, Feb 7 (Reuters) - U.S. President Joe Biden will face Republicans who question his legitimacy and a public concerned about the country's direction in Tuesday's State of the Union speech that is expected to serve as a blueprint for a 2024 re-election bid. Biden would urge lawmakers to "build on these historic bipartisan achievements" to improve the lives of Americans, Christen Linke Young, deputy assistant to Biden for health and veterans affairs, told reporters. He will also run through a wish list of economic proposals, many of which are unlikely to be passed through Congress, the White House said. They include a minimum tax for billionaires, and a quadrupling of the tax on corporate stock buybacks. Speaker Kevin McCarthy will sit behind Biden for the address for the first time.

Biden turned 80 in November and, if re-elected, would be 82 at the start of a second term, a fact that concerns many Democratic voters, recent polls show. Speaker Kevin McCarthy will sit behind Biden for the address for the first time. The two are at loggerheads over the $31.4 trillion debt ceiling, which must raised in the coming months to avoid a default. Biden will insist during his speech that raising the debt limit is not negotiable and should not be used as a "bargaining chip" by lawmakers, National Economic Council director Brian Deese said Monday. While the U.S. economy continues to outperform expectations, faith in Biden is undermined by entrenched political divisions, high prices and concerns over his age, polls show.

Feb 3 (Reuters) - School meals for millions of children in the United States would include less added sugar, more whole grains, and lower sodium content under new standards proposed by the Biden administration on Friday. The Biden administration committed to updating school meal nutrition standards as part of its strategy laid out at a conference on hunger last year. Under the proposed standards, by fall 2024, schools would need to offer whole grain products. The Obama administration hiked standards by requiring schools to serve fruits and vegetables every day and offer more whole grain foods. "These proposed evidence-based standards will make for a healthier school day," said FRAC president Luis Guardia in a statement.

GAZA, Feb 2 (Reuters) - Israeli aircraft struck in Gaza on Thursday in response to Palestinian rocket fire, days after the United States called for calm, but there was no immediate sign of a wider escalation in violence following days of tension. The Democratic Front for the Liberation of Palestine (DFLP) said it had fired some of the rockets in response to the air strikes and the "systematic aggression" against Palestinian prisoners in Israeli jails. In Gaza, activists rallied in support of women prisoners held by Israel after far-right National Security Minister Itamar Ben-Gvir, who oversees prisons, said he would push ahead with plans to toughen conditions for Palestinian prisoners. Ben-Gvir has vowed a crackdown on "benefits and indulgences" offered to Palestinian prisoners and ordered amenities including prisoner-operated bread ovens in some prisons to be curtailed. Cairo has also invited Hamas chief, Ismail Haniyeh, who currently resides between Qatar and Turkey, for separate talks next week, said a Palestinian official familiar with Egyptian mediation.

☆ Bank of England to toughen up rules for liability-driven funds
▼ + stars: | 2023-02-01 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LDI funds have been used by pension schemes to ensure they can meet payouts to pensioners in future years. Yields on the government bonds or "gilts" held by LDI funds rocketed, and the funds struggled to meet urgent collateral calls to cover the fall in bond prices. The Pensions Regulator, which regulates pension schemes, and the Financial Conduct Authority, which regulates managers of LDI funds may have additional requirements, she said. Regulators in Luxembourg and Dublin, where LDI funds are listed, will also have their own requirements. The "complete absence" of data on leverage in LDI funds will also be addressed, she added.

They were joined by the parent of a student who died in the 2018 shooting at Santa Fe, Texas, high school. Duran's sister, Irma Garcia, was one of the two teachers and 19 killed in the May 4, 2022 shooting in Uvalde. The Uvalde massacre was the deadliest school shooting in Texas history and one of the deadliest in the country. Eric Gay / APThe sorrow of the losses for the Uvalde families were visible in tears, sniffles and anger, as some of the family members made statements at the conference in Austin, which was livestreamed. It has to be the session where we do something on gun safety,” Gutierrez said.

☆ U.K. to Toughen New Social-Media Law, Threatening CEOs With Jail Time
▼ + stars: | 2023-01-17 | by ( Sam Schechner | Max Colchester | ) www.wsj.com time to read: 1 min

The U.K.’s Online Safety Bill aims to better protect adults and children from viewing certain online content. LONDON—British legislators are set to approve a draft of a extensive new social-media bill that could see the chief executives of major tech firms held criminally liable if they don’t protect children from certain content online. As the U.K. moves closer toward enacting new legislation that technology companies say is too restrictive, its Online Safety Bill aims to better protect adults and children from viewing certain online content, including fraud, revenge porn and sexual abuse.

☆ Canada Looks Poised to Pass Law on Forced Labor
▼ + stars: | 2023-01-17 | by ( Richard Vanderford | ) www.wsj.com time to read: +6 min

Canada could require that companies report on their efforts to stop goods made with forced labor from entering their supply chains, adding to momentum among Western governments to tackle the practice. Pending legislation would compel many companies to report on steps taken to prevent or reduce the use of forced labor in their supply chains by detailing, among other things, parts of the supply chains where forced labor might be occurring and the company’s due-diligence procedures. We are consuming products that contain forced labor.”With the passage of S-211, Canada would join several other Western governments in trying to stop businesses’ use of forced labor. Canada’s legislation would apply more broadly than, for example, France’s law, having an impact on some companies with as few as 250 employees. Photo: AssentCanada pledged in the United States-Mexico-Canada trade agreement, which became effective in 2020, to block the import of goods made with forced labor.

☆ Tech bosses could face jail after UK government backs down over online harm
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: +2 min

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., left, arrives at federal court in San Jose, California, US, on Tuesday, Dec. 20, 2022. Tech bosses could be jailed if their platforms repeatedly fail to protect children from online harm after Prime Minister Rishi Sunak's government agreed a deal with lawmakers to avoid the prospect of a first parliamentary defeat. The rebels had tabled an amendment proposing jail sentences of up to two years for tech bosses for failing to protect children from content such as child abuse and self-harm. After days of negotiations between the government and the lawmakers, the two sides reached an agreement with ministers promising to introduce an amendment along similar lines. A spokeswoman for the Department for Digital, Culture, Media and Sport did not immediately respond to a request for comment.

☆ Japan to tighten COVID border controls for travellers from China
▼ + stars: | 2023-01-04 | by ( Kantaro Komiya | ) www.reuters.com time to read: +2 min

TOKYO, Jan 4 (Reuters) - Japan will toughen from Sunday its COVID-19 border control measures for travellers from China, Prime Minister Fumio Kishida said, in response to a surge of infections among such visitors. Additional measures will require negative coronavirus tests before passengers board direct flights from China, Kishida said on Wednesday, stepping up measures adopted on Dec. 30. Japan will continue to ask airlines to limit additional flights from China, he told a nationally televised New Year news conference. "Necessary restrictions are still put in place as we are taking all possible measures to prevent infections," Kishida added. Most European Union nations favour pre-departure testing for travellers from China, the European Commission said on Tuesday.

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