U.S. Treasury's Yellen says IRS needs to be 'completely redone':
reuters.com/world/us/us-treasurys-yellen-says-irs-needs-be-completely-redone-2023-01-22/
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| Last Updated | Jan 23 23 |
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U.S. Treasury’s Yellen says IRS needs to be ‘completely redone’: Yellen lobbied hard for extra funding to help the IRS deal with a backlog in working through tax ...
theglobeandmail.com/world/article-us-treasurys-yellen-says-irs-needs-to-be-completely-redone/
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U.S. Treasury’s Yellen says IRS needs to be ‘completely redone’: Yellen lobbied hard for extra funding to help the IRS deal with a backlog in working through tax ...
theglobeandmail.com/world/article-us-treasurys-yellen-says-irs-needs-to-be-completely-redone/
'Buy Bitcoin' Sign Shown Behind Janet Yellen Sells for $1 Million at Auction
bloomberg.com/news/articles/2024-04-24/-buy-bitcoin-sign-shown-behind-yellen-sells-for-1-million-at-auction
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Yellen, Asked on Yen, Says Currency Interventions Should Be Rare: US Treasury Secretary Janet Yellen said intervention in foreign-exchange markets should be rare ...
trib.al/j0zWXIr
Yellen Says US Can Bring Inflation Down Without Hurting Jobs: Treasury Secretary Janet Yellen said US inflation can come down without requiring a weakening in ...
bloomberg.com/news/articles/2024-04-25/yellen-says-us-can-bring-inflation-down-without-hurting-jobs
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George Santos ends comeback bid for Congress: Former U.S. Rep. George Santos says he's dropping his longshot bid to return to Congress ...
apnews.com/article/george-santos-congress-campaign-a4c4cc2ea7cb52a13ec9f8dfc5ede86c
Quick Glance: George Santos ends independent bid for US House seat
- Following his expulsion from Congress after a bipartisan vote on December 1, George Santos, a Republican representative from New York, is seen leaving the U.S. Capitol. On Tuesday, Santos announced his decision to withdraw his independent candidacy for New York's 1st Congressional District.
- In order to prevent a split in the Republican ticket between himself and the incumbent Republican candidate, Nick LaLota, in case he secures the Republican nomination after the New York primary on June 25, Santos opted out of an independent run, as reported by Politico.
- Nancy Goroff and John Avlon are currently competing for the Democratic nomination for the congressional seat during the New York primary.
- Despite concluding his independent candidacy, Santos hinted at a possible future congressional run. He expressed, 'The future holds countless possibilities, and I am prepared, eager, and capable to step up and fight for my country at any time.'
Congress approves bill banning TikTok unless Chinese owner ByteDance sells platform
ft.com/content/d84df824-19c0-4105-ae95-816dd0618efb
Quick Glance: TikTok Ban Threat: ByteDance Prefers Closure Over Sale, Insiders Say
- ByteDance, the owner of TikTok, would prefer to shut down its loss-making app rather than sell it if all legal options to fight legislation to ban the platform from app stores in the US are exhausted, said four sources.
- TikTok accounts for a small share of ByteDance’s total revenues and daily active users, so the parent would rather have the app shut down in the US in a worst-case scenario than sell it to a potential American buyer, they said.
- ByteDance would not agree to sell one of its most valuable assets – its “secret source” – to rivals, said the four sources, referring to the TikTok algorithm.
- After facing challenges regarding bans, the short-form video app has encountered partial and attempted prohibitions in the US and other nations.
‘Buy Bitcoin’ Sign Flashed Behind Janet Yellen Receives Bid of Almost $140,000: Here’s the latest sign that animal spirits have returned to the cryptocurrency ...
bloomberg.com/news/articles/2024-04-22/-buy-bitcoin-sign-flashed-behind-yellen-receives-high-bid-of-almost-140-000
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War in Ukraine: US to send new aid right away, Biden says: The president says weapons and equipment will be sent to Kyiv "in the next few hours" ...
bbc.com/news/world-us-canada-68885868
Quick Glance: Biden signs Comprehensive Military Aid Package for Ukraine, Israel, and Taiwan
- President Biden announces the signing of a substantial $95 billion military assistance package for Ukraine, Israel, and Taiwan, with a significant portion of the funds directed towards Ukraine.
- Despite initial resistance from Republicans in Congress, Biden has signed the aid package, highlighting the reinforcement of allies and ensuring prompt deliveries to Ukraine.
- The assistance for Ukraine includes weapons and military equipment valued at around $1 billion, encompassing artillery shells and air defense missiles.
- Military analysts do not foresee significant changes on the frontlines in eastern Ukraine, while the US support aims to aid Ukraine in operations in southern Ukraine, particularly focusing on Crimea and the Black Sea.
Congress: House passes new aid for Ukraine and votes next on Israel: The House is pushing swiftly through a series of votes in a rare weekend session toward ...
apnews.com/article/ukraine-aid-israel-tiktok-congress-a8910452e623413bf1da1e491d1d94ba
Quick Glance: Ukrainian President Thanks US for Weapon Aid
- Ukrainian President Zelenskyy thanked U.S. political leaders for approving an aid package for Ukraine, providing the country with a chance at "victory" in its defense against Russia.
- The House passed a bill granting Ukraine $60.8 billion in aid, with Zelenskyy urging swift Senate approval to ensure rapid assistance to frontline soldiers.
- Zelenskyy emphasized the critical need for long-range weapons and air defense systems to stabilize the situation and regain the initiative in Ukraine.
- He addressed rumors of a territorial deal with Russia, emphasizing the importance of a strategy based on concrete democratic measures to end the war.
Join us for a Reuters NEXT Newsmaker featuring Janet Yellen, US Secretary of the Treasury, in a conversation with Reuters Editor-in-Chief Alessandra Galloni on ...
reut.rs/44dAf4W
How investment firms shield the ultrawealthy from the IRS - ICIJ: An ICIJ investigation examining hundreds of leaked tax forms offers a glimpse into the huge ...
icij.org/inside-icij/2024/04/how-investment-firms-shield-the-ultra-wealthy-from-the-irs/
Quick Glance: How Investment Firms Shield the Ultrawealthy from Tax Authorities
- In 2015, the U.S. Department of Treasury hired economist Owen Zidar to help government officials examine the growing use of complex company structures and trusts by the ultrawealthy. These new investment schemes, often referred to as 'large partnerships,' are pervasive in private equity funds and similar investment firms.
- Following years of budget cuts, it was evident to Owen Zidar, now a professor of economics at Princeton University, that the IRS was not effectively enforcing tax laws for the ultrarich.
- With a significant infusion of funding, the IRS is now making efforts to penetrate these opaque bastions of wealth. An investigation by ICIJ sheds light on the challenges faced by the tax authority in untangling the secretive structures of the ultrawealthy.
- Partnerships play a crucial role in U.S. tax law and have become a focal point for large fortunes, contributing to a poorly understood aspect of growing economic inequality. Despite additional funding for the IRS, addressing large partnerships remains a formidable task.
How investment firms shield the ultrawealthy from the IRS - ICIJ: An ICIJ investigation examining hundreds of leaked tax forms offers a glimpse into the huge ...
icij.org/inside-icij/2024/04/how-investment-firms-shield-the-ultra-wealthy-from-the-irs/
Quick Glance: How Investment Firms Shield the Ultrawealthy from the IRS
- Investment firms create opaque structures for the ultrawealthy.
- The IRS seeks to penetrate the opaque structures of the top 1%.
- The IRS struggles with opaque regulations and lack of information.
- Experts emphasize the need for professionals and transparency in the IRS.
The Next US President Will Have Troubling New Surveillance Powers: Over the weekend, President Joe Biden signed legislation not only reauthorizing a major FISA ...
wired.com/story/section-702-reauthorization-expansion/
Bill that would potentially ban TikTok clears US Congress: The legislation would ban the social media app if it is unable to find a new owner in the next few ...
lemonde.fr/en/tiktok/article/2024/04/24/bill-that-would-potentially-ban-tiktok-clears-us-congress_6669379_70.html
Rep. Donald Payne Jr. dead at 65 after "cardiac episode": Gov. Phil Murphy said in a statement he is "deeply saddened by the passing of our friend ...
axios.com/2024/04/24/congressman-donald-payne-jr-dies
Quick Glance: Late Congressman Donald Payne Jr.
- Democratic Congressman Donald Payne Jr. from New Jersey has passed away at the age of 65
- Payne, a longstanding House member, was the son of a former congressman
- He advocated for healthcare legislation, gun violence prevention, and infrastructure investments
- Following his death, a special election will be held to fill his position in the House of Representatives
House Approves Bill Banning TikTok in the US (Again): Congress tries again with a TikTok ban, this time bundling it into a foreign aid package.
uk.pcmag.com/mobile-apps/151942/a-bill-banning-tiktok-in-the-us-just-passed-the-house
Congress Passed a Bill That Could Ban TikTok. Now Comes the Hard Part.: After President Biden signs the bill to force a sale of the video app or ban it ...
nytimes.com/2024/04/23/technology/tiktok-ban-bill-congress.html
Quick Glance: San Francisco's Real Estate Market in Turmoil
- The city of San Francisco, once seen as the shining star of the West Coast, is now on the verge of collapse, with seemingly no one raising the alarm.
- In particular, the city's housing market has been severely impacted over the past year, with prices plummeting and homeowners fleeing en masse.
- Jamie Dimon, CEO of JPMorgan Chase, did not hold back in his comparison of San Francisco's issues to those of New York City, stating that the Bay Area is 'in far worse shape.'
- San Francisco is failing in all aspects, leading to a quiet collapse of its housing market, where once luxurious properties are now being offered at significant discounts.
Tax refunds expected to be bigger this year: WASHINGTON — Refunds are looking a bit bigger for taxpayers this year.
postandcourier.com/tax-refunds-expected-to-be-bigger-this-year/article_f8d338da-fb6b-11ee-973d-d7fdea2637b0.html
Yellen Says Nothing Off Table in Response to China Overcapacity: Treasury Secretary Janet Yellen said the US wouldn’t take “anything off the table” in response ...
bloomberg.com/news/articles/2024-04-14/yellen-says-nothing-off-table-in-response-to-china-overcapacity
Paid articlePaid Yellen calls Republican delays in approving Ukraine aid inexcusable: U.S. Treasury Secretary Janet Yellen on Wednesday underscored the Biden administration's ...
reut.rs/3xGLYwS
Truth Social owner asks Congress to investigate ‘potential manipulation’ of share price
thehill.com/business/4617730-truth-social-owner-asks-congress-to-investigate-potential-manipulation-of-share-price/
Quick Glance: Trump Media Seeks Congressional Probe on 'Troubling' Market Manipulation Claims
- Trump Media & Technology Group is asking Congress to investigate suspicions of illegal activity affecting its stock price.
- In a disclosed letter, Devin Nunes, the CEO of Truth Social owner Trump Media, urged GOP Chairmen of relevant House Committees to examine the 'urgent matter' of 'potential manipulation' of the company's stock price.
- Trump Media recently reported a $58 million loss in 2023 with minimal revenue. The company's price-to-sales ratio, a common stock valuation method, is notably high compared to competitors in the social media sector.
- In the communication to Congress, Trump Media highlighted that data suggests 'just four market participants' accounted for over 60% of the exceptional trading volume in the company's stock: Citadel Securities, Virtu Americas, G1 Execution Services, and Jane Street Capital.
The US Treasury Secretary Janet Yellen said the outright seizure of Russian assets is justifiable but is only one possibility ...
reut.rs/4aNryAX
US Set to Ring Alarm Bells Over Chinese Industry on World Stage: US Treasury Secretary Janet Yellen warned China’s leaders that the nation’s manufacturing power ...
bloomberg.com/news/articles/2024-04-12/us-set-to-ring-alarm-bells-over-chinese-industry-on-world-stage
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How every senator voted on the rejection of Mayorkas impeachment charges: The US Senate on Wednesday dismissed the two impeachment articles against Homeland ...
cnn.com/2024/04/17/politics/senators-vote-mayorkas-impeachment-dg/
Republican's Stunning Condemnation of GOP Colleagues: 'Scumbags': "They're walking around with white hoods in the daytime," Tony Gonzales, a Texas Republican ...
newsweek.com/tony-gonzales-stunning-condemnation-gop-colleagues-scumbags-1892582
Quick Glance: House Republican Infighting Escalates Post Foreign Aid Vote
- After passing a comprehensive $95 billion foreign aid package, intense disputes among House Republicans have heightened within the chamber.
- Many Republican members are frustrated with colleagues who vote against laws instead of seeking compromises within the party.
- A persistent bloc of Republicans advocates for ideological purity, insisting on a firm stance in negotiations with the Democrats.
- The internal conflicts have spilled over into the campaign trail, with some Republicans advocating for measures against the hardline faction.
Warner: Military equipment will be ‘in transit’ to Ukraine by next week if Biden signs bill
thehill.com/homenews/senate/4609587-warner-military-equipment-will-be-in-transit-to-ukraine-by-next-week-if-biden-signs-bill/
Inside Lawmakers’ Secretive Push to Pass the TikTok Bill: A tiny group of lawmakers huddled in private about a year ago, aiming to keep the discussions away from ...
nytimes.com/2024/04/24/technology/tiktok-ban-congress.html
Quick Glance: ByteDance Would Consider Closing TikTok in US Over Sale, Sources Claim
- ByteDance would prefer to cease TikTok operations rather than engage in a sale if all legal avenues are exhausted to combat potential legislation banning the platform in US app stores, as per four sources.
- Despite TikTok's massive popularity with over a billion users, it remains unprofitable, contributing a small fraction to ByteDance's overall revenues and daily active user base.
- ByteDance stated on Thursday in a release on Toutiao, a media platform it possesses, that there are no intentions to sell TikTok, in response to claims from The Information about ByteDance exploring sale scenarios for TikTok's US operations excluding the recommending algorithm for user videos.
- As of December, ByteDance's valuation stood at $268 billion when it proposed a buyback of approximately $5 billion in shares from investors.
Columbia University Protests: Inside a Week of Unrest on Campus: In a Washington war room, Columbia’s president, Nemat Shafik, decided to call police officers to ...
nytimes.com/2024/04/23/nyregion/columbia-university-campus-protests.html
Oil prices on track to snap two-week losing streak: Oil prices rose on Friday, on track to end higher this week after two straight weeks of losses, after a top U ...
reuters.com/markets/commodities/oil-prices-rise-us-official-eases-market-concerns-over-economic-headwinds-2024-04-26/
Pelosi, Clyburn back Jan. 6 officer for Congress: Dunn has heavily out-raised his opponents for a district in suburban Maryland.
axios.com/2024/04/19/nancy-pelosi-jan-6-harry-dunn-congress
Putin announces plans to visit China in May: Russian President Vladimir Putin said Thursday he plans to visit China in May, in what could become the first ...
bloomberg.com/en/news/thp/2024-04-25/putin-announces-plans-to-visit-china-in-may
Paid articlePaid Pelosi, Clyburn endorse Jan. 6 Capitol Police officer for Congress: Two heavy-hitters in the House Democratic Caucus have endorsed former U.S ...
trib.al/6xnAU9z
Grand jury indicts fake electors who falsely certified Donald Trump as 2020 winner in Arizona
azcentral.com/story/news/politics/elections/2024/04/24/arizona-fake-electors-indictments/73184206007/
Quick Glance: 11 Republican 'Fake Electors' Charged in Arizona
- Eleven Republicans were charged in Arizona for falsely claiming that Donald Trump won the 2020 presidential election in Arizona against Joe Biden.
- They met in Phoenix to sign a certificate declaring Trump had won the state. The document was sent to Congress and the National Archives but ignored.
- The Arizona charges follow indictments against fake electors in Nevada, Michigan, and Georgia.
- The charges allege conspiracy, fraud, and forgery as they falsely declared Trump as the winner in Arizona despite Biden's victory by over 10,000 votes.
You Shouldn’t Be So Happy About Your Tax Refund. Here’s Why: I just wrote out a big check and got nothing in return.
bloomberg.com/news/newsletters/2024-04-18/you-shouldn-t-be-so-happy-about-your-tax-refund-here-s-why
In the Peter Navarro case, executive privilege is on trial: U.S. v. Navarro has the potential to be a landmark case of “first impressions” involving unsettled ...
thehill.com/opinion/judiciary/4611965-in-the-peter-navarro-case-executive-privilege-is-on-trial/
One Day 10 Years Ago, I Stopped Paying My Taxes. I Don’t Regret a Thing.: I ignored the IRS for an entire decade and got away with it. I think.
slate.com/human-interest/2024/04/taxes-file-pay-2024-stop-paying-irs.html
Marjorie Taylor Greene mocked by fellow lawmaker's extreme Ukraine aid bill amendments
kyivindependent.com/marjorie-taylor-greene/
Quick Glance: GOP Congresswoman Propagates Russian Narratives Against Ukraine Aid
- Republican Congresswoman Marjorie Taylor Greene introduced amendments to the latest bill on aid to Ukraine, echoing Russian propaganda narratives about "biolabs in Ukraine" and "persecution of Christians in Ukraine."
- Greene proposed halting funding for Ukraine's aid until free and fair elections are held, persecution of Christians stops, and all biolabs in Ukraine are closed.
- The allegation of secret "biolabs" in Ukraine is a long-standing Russian propaganda conspiracy theory, also picked up by Chinese disinformation networks according to the EU East Stratcom Task Force.
- House Speaker Mike Johnson announced determination to advance the foreign aid bill on April 20, despite opposition from GOP hardliners who have blocked progress for over six months.
Progressives Oppose Israel Funding Advanced by US House: "Congress is shamefully choosing a failed approach of fueling genocide rather than saving ...
commondreams.org/news/progressives-oppose-israel-aid
Live Updates: Police Arresting Pro-Palestinian Protesters at Columbia: Officers began arresting students on Thursday, a day after university officials testified ...
nyti.ms/3Q7JC09
Yellen Meets Japan, South Korea Finance Ministers to Discuss Finance Cooperation: US Treasury Secretary Janet Yellen took note of worries between her Japanese ...
bloomberg.com/news/articles/2024-04-17/us-japan-south-korea-triad-extends-to-finance-in-yellen-sitdown
LIVE: Japanese Prime Minister Fumio Kishida addresses a joint meeting of US Congress
twitter.com/i/broadcasts/1PlJQDQQBrkGE
Quick Glance: Biden criticizes Netanyahu's Gaza war approach
- President Joe Biden criticizes Netanyahu for inadequate humanitarian aid in Gaza.
- The U.S. increases pressure on Israel to achieve a ceasefire, straining the long-standing alliance.
- Disagreements over humanitarian aid and offensive plans in Rafah deepen the divide between the two countries.
- Israel slowly ramps up aid, but logistical issues and security concerns complicate deliveries.
Boeing in the spotlight as Congress calls a whistleblower to testify about defects in planes
apnews.com/article/boeing-whistleblowers-safety-senate-hearings-f8354ddddc6372e3337cd74b9ea264e3
Schumer: Mayorkas impeachment ‘awful precedent,’ ‘abuse of process’: Senate Majority Leader Chuck Schumer (D-N.Y.) on Tuesday accused House Republicans of ...
trib.al/lbetJ3Q
US to start supplying Ukraine with armament "right away" after Congress' decision – White House
pravda.com.ua/eng/news/2024/04/19/7452071/
President can commit crimes if Congress doesn't know: Trump lawyer: As the saying goes: It's not the crime; it's the cover-up. If former President Donald Trump ...
businessinsider.com/trump-lawyer-supreme-court-president-can-commit-crimes-congress-2024-4
Bloomberg New Economy: IMF Scrutinizes US Economy Instead of Going After China: As the US delegation looked to the annual springtime gathering of finance chiefs ...
bloomberg.com/news/newsletters/2024-04-20/bloomberg-new-economy-imf-scrutinizes-us-economy-instead-of-going-after-china
Harry Dunn Fought Rioters on Jan. 6. Now He Wants to Go to Congress: Harry Dunn Fought Rioters on Jan. 6. Now He Wants to Go to Congress
rollingstone.com/politics/politics-features/harry-dunn-congress-january-6-1235008259/
Supreme Court skeptical of feds’ use of obstruction statute in Jan. 6 prosecutions
politico.com/news/2024/04/16/supreme-court-obstruction-statute-jan-6-00152564
Quick Glance: Justices Question Obstruction Charge Against Jan. 6 Rioter
- The Supreme Court is considering whether Jan. 6 rioters can be charged with obstructing an official proceeding, potentially impacting Trump's election interference case.
- During Tuesday's hearing, justices expressed concerns about the Justice Department's use of the obstruction statute to prosecute those involved in the Jan. 6 Capitol attack.
- A potential consequence of a ruling in favor of Fischer could affect Trump, although this outcome is not definitive. Prosecutors in Trump's case have emphasized that even if Fischer succeeds, Trump's actions would still be governed by a more restrictive interpretation of the law.
- The provision was enacted in 2002 as part of the Sarbanes-Oxley Act, passed after the Enron accounting scandal. Both Fischer and Trump argue that the obstruction law does not apply to their alleged conduct, meaning the charges should be dropped.
Russia says US support for Ukraine will end as ‘humiliating fiasco’ like ‘Vietnam and Afghanistan’
thehill.com/policy/defense/4610062-russia-says-us-support-for-ukraine-will-end-as-humiliating-fiasco-like-vietnam-and-afghanistan/
IDF Kills 18 Children in Rafah Hours After US House Approves Billions in Military Aid
commondreams.org/news/rafah-airstrikes-us-weapons
Freedom Caucus on alert for possible moves against it by GOP leaders: The Floor Action Response Team, shorthanded as “FART,” aims to guard against an unannounced ...
politico.com/live-updates/2024/04/18/congress/hfc-on-alert-00153097
Ukraine Russia war: US House passes crucial aid deal worth $61bn: The long-stalled package could be vital for Ukraine, which is struggling to contain Russia's ...
bbc.com/news/world-us-canada-68848277
Yellen Delivers Sharp Message to China’s Leaders With a Smile: US Treasury Secretary Janet Yellen will meet China’s central bank chief and former economic czar ...
bloomberg.com/news/articles/2024-04-07/yellen-advances-us-china-ties-despite-tough-criticism-on-exports
Paid articlePaidQuick Glance: China and U.S. to Engage in Intensive Talks on Economic Balance
- US Treasury Secretary Janet Yellen announced intensive talks with China to address America's competitive disadvantages.
- Both sides will engage in intensive discussions on balanced economic growth and initiate exchanges on combating money laundering.
- Yellen emphasized the importance of addressing American concerns regarding overcapacity in Chinese production.
- The meetings will be held under existing economic and financial working group frameworks to address balanced growth and money laundering.
Bloomberg New Economy: China Heads Down Japan’s Troubled Macro-Policy Path: The argument that China is following in Japan’s three-decade old footsteps down the ...
bloomberg.com/news/newsletters/2024-04-13/bloomberg-new-economy-china-heads-down-japan-s-troubled-macro-policy-path
Full List of Republicans Retiring from House This Year: One Republican who has left Congress before the end of his term said the party had lost its way.
newsweek.com/republicans-house-retiring-not-seeking-reelection-2024-1892298
Ukraine Aid Bill Clears Critical Hurdle in the House as Democrats Supply the Votes
nytimes.com/2024/04/19/us/politics/congress-vote-ukraine-bill-house.html
'Has to come to an end': GOP lawmaker accuses Marjorie Taylor Greene of holding Congress hostage
usatoday.com/story/news/politics/2024/04/18/marjorie-taylor-greene-congress-hostage/73370258007/
IMF Steps Up Its Warning to US Over Ballooning Debt
bloomberg.com/news/articles/2024-04-16/imf-steps-up-its-warning-to-us-over-ballooning-debt
Paid articlePaid Ukrainians Wait, Nervously, to See if U.S. Will Provide Critical Aid: From the battlefield to battered cities, soldiers and civilians are counting on Congress to ...
nytimes.com/2024/04/19/world/europe/ukraine-aid-congress.html
Biden hosts Czech leader at White House to promote Ukraine aid amid holdup in Congress
apnews.com/article/biden-ukraine-czech-republic-russia-congress-b18487902f93606159ce69809dfb42b7
White House to announce new sanctions on Iran following Israel airstrike: White House will be imposing new sanctions on Iran, targeting Tehran’s missile and ...
thehill.com/homenews/administration/4598643-white-house-to-announce-new-sanctions-on-iran-following-israel-airstrike/
New bill would force IRS to explain tax return errors: A newly proposed change to the tax code would require greater specificity from the IRS when it comes to ...
thehill.com/business/4602429-new-bill-would-force-irs-to-explain-tax-return-errors/
U.S. to hit Iran with fresh sanctions after Israel attack: It's a subtle message to Israel that there's more than one way to harm Tehran.
axios.com/2024/04/16/iran-sanctions-israel-biden-yellen
Quick Glance: Yellen warns of further sanctions in response to Iran's increasing activities
- Treasury Secretary Janet Yellen warned of potential global economic damage from rising tensions in the Middle East and pledged that the U.S. and its allies won't hesitate to use their sanctions powers to address Iran's 'malign and destabilizing activity' in the region.
- The fast-rising tensions between Iran and Israel and the potential implications of escalation on the global economy are at the forefront of the spring meetings of the International Monetary Fund and World Bank.
- Yellen announced additional sanctions actions against Iran in the coming days and expressed support for liquidating roughly $300 billion in frozen Russian Central Bank assets for Ukraine's reconstruction.
- Another major focus of this year's meetings will be Chinese industrial policy, which Yellen believes poses a threat to U.S. jobs and the global economy. She plans to meet with Chinese counterparts to identify potential areas of cooperation and address concerns.
It’s Tax Day. Your Refund May Be Big This Year: According to the latest IRS statistics, the average income tax refund so far this season is $3,011 ...
time.com/6966981/tax-day-refund-irs/
Tech Leaders Once Cried for AI Regulation. Now the Message Is ‘Slow Down’: Any dreams of a sweeping AI bill out of Congress are basically a hallucination.
wired.com/story/tech-ai-regulation-bill/
Quick Glance: OpenAI and Meta Prepare New AI Models Capable of 'Reasoning'
- OpenAI and Meta are on the verge of releasing new artificial intelligence models that are said to be capable of reasoning and planning.
- These upgrades are part of a wave of new large language models being released this year.
- Reasoning and planning are key steps towards achieving 'artificial general intelligence', allowing chatbots and virtual assistants to complete sequences of related tasks.
Trump Media pens letter to Congress on impact of short sellers: The Trump Media CEO last week also penned a letter to Nasdaq blaming "naked" short selling for ...
markets.businessinsider.com/news/stocks/trump-media-spac-djt-ceo-letter-congress-naked-short-sellers-2024-4
Yellen Waves Yellow Flag as China’s EV Sector Keeps Up Expansion: China’s leading EV makers and suppliers are pressing ahead in the face of a global slowdown ...
bloomberg.com/news/newsletters/2024-04-08/yellen-waves-yellow-flag-as-china-s-ev-sector-keeps-up-expansion
Several K Street giants kick off 2024 with record revenues: Several K Street lobbying shops posted record revenues last quarter as Congress moved massive ...
thehill.com/lobbying/4621934-several-k-street-giants-kick-off-2024-with-record-revenues/
Lawmakers push Wall Street giveaway disguised as increased worker security: If members of Congress want to improve retirement security, they should expand Social ...
thehill.com/opinion/4618453-lawmakers-push-wall-street-giveaway-disguised-as-increased-worker-security/
Yellen Threatens Sanctions for China Banks That Aid Russia’s War: US Treasury Secretary Janet Yellen wrapped up four days of talks in China with a warning to the ...
bloomberg.com/news/articles/2024-04-08/yellen-threatens-sanctions-for-china-banks-that-aid-russia-s-war
Paid articlePaid UK's Cameron to meet Blinken, Trump while pressing US Congress on Ukraine aid: British Foreign Minister David Cameron will meet Secretary of State Antony Blinken ...
reut.rs/4cLrItT
Quick Glance: Cameron Warns US Politicians Against Russia Appeasement
- UK Foreign Secretary intensifies efforts to secure aid for Ukraine but faces rejection from a senior Republican.
- Cameron warns against 'appeasement' and emphasizes the need for military aid to Kyiv.
- Despite meetings with top US officials, Cameron failed to gain support from US Republicans.
- He faced limited reception on Capitol Hill and struggled to make an impact.
House Overwhelmingly Approves Billions to Support Israel: The $26 billion package mostly underwrites Israel’s war effort, but it also includes billions in ...
thedailybeast.com/house-overwhelmingly-approves-billions-to-support-israel
Paid articlePaid Possible TikTok ban revived as part of House foreign aid package : Legislation that could ban TikTok if its China-based owner doesn’t sell its stake has won a ...
apnews.com/article/congress-tiktok-ban-ukraine-israel-d88d4623d678ac8688bcd75008457899
Famed photographer quits Ford board over Liz Cheney snub: David Hume Kennerly wanted the Trump critic honored with the foundation’s top award.
politico.com/news/2024/04/10/david-hume-kennerly-liz-cheney-gerald-ford-foundation-00151480
Columbia’s President, Nemat Shafik, to Testify at Antisemitism Hearing: Columbia University’s president, Nemat Shafik, will speak to the same congressional ...
nytimes.com/2024/04/16/nyregion/columbia-university-congress-antisemitism-hearing.html
Quick Glance: Columbia Leaders Questioned on Campus Antisemitism
- Columbia University leaders faced scrutiny from lawmakers regarding their actions against campus antisemitism.
- Congress members expressed disbelief over faculty members' statements and the university's response.
- University leaders expressed concern and promised changes to facilitate reporting incidents and enforcing rules.
- The hearing sparked debates on free speech, political context, and addressing antisemitism incidents in higher education.
IRS targets 'ghost employers': The Internal Revenue Service's criminal investigators have been on the lookout for tax evasion by businesses that don't pay ...
accountingtoday.com/news/irs-targets-ghost-employers
Cordial: The Bloomberg Open, Asia Edition: Good morning. Yellen and China's He keep it polite. Beijing is said to step up support to Russia ...
bloomberg.com/news/newsletters/2024-04-07/cordial-the-bloomberg-open-asia-edition
Paid articlePaid Turner: Russian propaganda "being uttered on the House floor": Turner's comments come after McCaul said Russian propaganda has "infected a good ...
axios.com/2024/04/07/russian-propaganda-republican-party-mike-turner
Quick Glance: GOP Rep. Turner: Accusations of Russian Propaganda Spread Among Republicans
- The congressman stated that it is 'absolutely true' that Russia's anti-Ukraine messaging has 'infected' his party's base.
- Mike Turner, a Republican representative, accused some of his colleagues of spreading Russian propaganda 'on the House floor' amid Vladimir Putin's invasion of Ukraine.
- Turner's comments align with an earlier assertion by another Republican and chair of the House Foreign Affairs Committee, Michael McCaul, who mentioned that Russian propaganda has infiltrated the United States and affected a significant portion of his party's base.
- McCaul attributed the dissemination of Russian propaganda to conservative media outlets, including 'nighttime entertainment shows' that echo talking points used by Russian state media.
Zelenskyy says Ukraine can't win without US support: Ukrainian President Volodymyr Zelenskyy has said that if the US Congress fails to vote on military aid for ...
pravda.com.ua/eng/news/2024/04/16/7451441/
Quick Glance: Russia Strikes Chernihiv: 18 Dead, Ukraine Appeals for Air Defense
- At least 18 people were killed and over 60 wounded in Chernihiv due to Russian missile strikes. Ukrainian officials emphasized that the attack could have been prevented with adequate air defense systems.
- Russia launched three Iskander cruise missiles at the city, located near the Russian border and previously encircled by Russian troops.
- Ukraine currently has three Patriot air defense systems but requires 26 for full coverage. Following appeals for more systems, Germany pledged to send an additional one.
- A $60 billion aid package for Ukraine is stalled in the US Congress, allowing Russia to exploit ammunition and air defense shortages and gain ground in the east.
FTC is sued by business groups over its ban on noncompete agreements, which may delay enforcement
cnn.com/2024/04/25/success/ftc-noncompete-ban-lawsuit/
Quick Glance: US implements ban on worker 'competition agreements' with business groups filing lawsuits
- The U.S. Federal Trade Commission has approved a framework to eliminate agreements often signed by employees to refrain from joining their employers' competitors or establishing rival businesses.
- The ban on noncompete agreements is projected to boost worker earnings by up to $488 billion over the next decade and facilitate the establishment of over 8,500 new businesses annually.
- Prominent business associations have criticized the framework and declared legal actions, contending that noncompete agreements assist companies in safeguarding trade secrets and advancing competitiveness.
- Unions have endorsed the FTC's vote in favor of the ban, hailing it as a significant triumph for workers that will enhance the national economy by fostering entrepreneurship.
ABBA, Blondie, and the Notorious B.I.G. enter the National Recording Registry: Albums from ABBA, Blondie and the Notorious B.I.G. are entering the National ...
apnews.com/article/abba-biggie-blondie-national-recording-registry-4b6f237694aa1910fcc605ca46159576
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