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Milei's Argentina dollarization plan has Latin American precursors
Milei's Argentina dollarization plan has Latin American precursors
Argentine president-elect Javier Milei ran his campaign on promises to ditch the peso for the US dollar and do away with a central bank -- all in...
2023-11-21 09:48
World Music Day Sensation: KuCoin and French Rapper Naps Merge Crypto and Rap Culture with Viral Smash
World Music Day Sensation: KuCoin and French Rapper Naps Merge Crypto and Rap Culture with Viral Smash "C'est carré le S," Attracting 7.5 Million Views
VICTORIA, Seychelles--(BUSINESS WIRE)--Jun 21, 2023--
2023-06-21 19:54
Marketmind: 'Flash' business funk and AI buzz
Marketmind: 'Flash' business funk and AI buzz
A look at the day ahead in U.S. and global markets from Mike Dolan A combination of worrying August business
2023-08-23 18:26
Biden expected to sign budget deal to raise debt ceiling
Biden expected to sign budget deal to raise debt ceiling
President Joe Biden is expected to sign legislation on Saturday to raise the debt ceiling, just two days before the U.S. Treasury warned that the country would struggle to pay its bills. The bipartisan measure, which was approved this week by the House and Senate, eliminates the potential for an unprecedented government default. “Passing this budget agreement was critical. The stakes could not have been higher," Biden said from the Oval Office on Friday evening. “Nothing would have been more catastrophic,” he said, than defaulting on the country's debt. The agreement was hashed out by Biden and House Speaker Kevin McCarthy, giving Republicans some of their demanded federal spending cuts but holding the line on major Democratic priorities. It raises the debt limit until 2025 — after the 2024 presidential election — and gives legislators budget targets for the next two years in hopes of assuring fiscal stability as the political season heats up. “No one got everything they wanted but the American people got what they needed,” Biden said, highlighting the “compromise and consensus” in the deal. “We averted an economic crisis and an economic collapse.” Biden used the opportunity to itemize the achievements of his first term as he runs for reelection, including support for high-tech manufacturing, infrastructure investments and financial incentives for fighting climate change. He also highlighted ways he blunted Republican efforts to roll back his agenda and achieve deeper cuts. “We’re cutting spending and bringing deficits down at the same time,” Biden said. “We're protecting important priorities from Social Security to Medicare to Medicaid to veterans to our transformational investments in infrastructure and clean energy.” Even as he pledged to continue working with Republicans, Biden also drew contrasts with the opposing party, particularly when it comes to raising taxes on the wealthy, something the Democratic president has sought. It’s something he suggested may need to wait until a second term. “I’m going to be coming back,” he said. “With your help, I’m going to win.” Biden's remarks were the most detailed comments from the Democratic president on the compromise he and his staff negotiated. He largely remained quiet publicly during the high-stakes talks, a decision that frustrated some members of his party but was intended to give space for both sides to reach a deal and for lawmakers to vote it to his desk. Biden praised McCarthy and his negotiators for operating in good faith, and all congressional leaders for ensuring swift passage of the legislation. “They acted responsibly, and put the good of the country ahead of politics,” he said. Overall, the 99-page bill restricts spending for the next two years and changes some policies, including imposing new work requirements for older Americans receiving food aid and greenlighting an Appalachian natural gas pipeline that many Democrats oppose. Some environmental rules were modified to help streamline approvals for infrastructure and energy projects — a move long sought by moderates in Congress. The Congressional Budget Office estimates it could actually expand total eligibility for federal food assistance, with the elimination of work requirements for veterans, homeless people and young people leaving foster care. The legislation also bolsters funds for defense and veterans, cuts back some new money for the Internal Revenue Service and rejects Biden’s call to roll back Trump-era tax breaks on corporations and the wealthy to help cover the nation’s deficits. But the White House said the IRS' plans to step up enforcement of tax laws for high-income earners and corporations would continue. The agreement imposes an automatic overall 1% cut to spending programs if Congress fails to approve its annual spending bills — a measure designed to pressure lawmakers of both parties to reach consensus before the end of the fiscal year in September. In both chambers, more Democrats backed the legislation than Republicans, but both parties were critical to its passage. In the Senate the tally was 63-36 including 46 Democrats and independents and 17 Republicans in favor, 31 Republicans along with four Democrats and one independent who caucuses with the Democrats opposed. The vote in the House was 314-117. ___ AP Congressional Correspondent Lisa Mascaro contributed to this report. Read More Ukraine war’s heaviest fight rages in east - follow live Charity boss speaks out over ‘traumatic’ encounter with royal aide FBI offers to show GOP chairman document that purports to relate to Biden, his family Republicans schedule 1st presidential debate for Aug. 23, but there's no guarantee Trump will attend DeSantis wraps up 1st early states tour as candidate with more personal touch in South Carolina
2023-06-03 12:19
German unemployment rises less than expected in September
German unemployment rises less than expected in September
By Maria Martinez BERLIN German unemployment rose in September but less than expected, slowly showing the first cracks
2023-09-29 17:52
Indonesia Trials First High-Speed Rail in Boost to Jokowi Legacy
Indonesia Trials First High-Speed Rail in Boost to Jokowi Legacy
Indonesia is starting trial runs for its first high-speed train, which will connect the capital Jakarta to a
2023-06-22 11:23
Deutsche Bank boosts Asia bets as clients seek Wall Street alternative -CEO
Deutsche Bank boosts Asia bets as clients seek Wall Street alternative -CEO
By Selena Li HONG KONG Deutsche Bank is investing more in Asia Pacific markets to woo clients seeking
2023-11-09 16:18
Tim Scott Hires Staff for His 2024 Republican Nomination Bid
Tim Scott Hires Staff for His 2024 Republican Nomination Bid
Tim Scott is laying the groundwork for his upcoming 2024 presidential run, hiring two well-known Republican political consulting
2023-05-12 01:51
Unitedprint.com collaborates with Pexels.com
Unitedprint.com collaborates with Pexels.com
RADEBEUL, Germany--(BUSINESS WIRE)--Sep 24, 2023--
2023-09-24 16:16
Saudi Arabia says new oil cuts show teamwork with Russia is strong
Saudi Arabia says new oil cuts show teamwork with Russia is strong
By Ahmad Ghaddar, Alex Lawler and Shadia Nasralla LONDON Russia-Saudi oil cooperation is still going strong as part
2023-07-05 18:26
How much did Jack Ma's speech cost Ant Group? About $230 billion
How much did Jack Ma's speech cost Ant Group? About $230 billion
Ant Group has announced a share buyback that values it at $78.5 billion, which is about $230 billion or 75% less than the valuation it fetched nearly three years ago, before its IPO was yanked by Chinese regulators.
2023-07-10 18:27
European firms look for footing in China-U.S. spat, French execs say
European firms look for footing in China-U.S. spat, French execs say
By Mathieu Rosemain and Leigh Thomas AIX-EN-PROVENCE, France European firms are concerned they could get caught in the
2023-07-09 23:15