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Meta sues US regulator to stop privacy settlement change
Meta sues US regulator to stop privacy settlement change
Meta filed a lawsuit late Wednesday arguing that US regulators planning to change the terms of a 2020 privacy settlement are overstepping their...
2023-12-01 10:57
Senate passes debt limit bill after marathon 11 amendment votes to avoid default
Senate passes debt limit bill after marathon 11 amendment votes to avoid default
The Senate voted late on Thursday night to raise the debt limit and avoid allowing the United States to default on its debt for the first time in history after having an all-night marathon session of votes to assuage Republican concerns. The legislation passed 63 to 36 after senators held 11 votes on amendments —10 from Republicans and 1 from Democrats — to address concerns about the bill. All but five Senators in the Democratic caucus--Sens Bernie Sanders (I-VT), Elizabeth Warren (D-MA), Ed Markey (D-MA), John Fetterman (D-PA) and Jeff Merkley (D-OR)--voted for the legislation while 31 Republican Senators opposed it. “America can breathe a sigh of relief because in this process we are avoiding,” Senate Majority Leader Chuck Schumer said before the votes began on Thursday evening. The vote came after the House passed the legislation on Wednesday that was the result of bipartisan negotiations between the House and the White House. The bill will now head to President before 5 June, the date that Treasury Secretary Janet Yellen had warned that the United States would default on its debt. Republicans raised concerns about some of the restraints on defence spending, which is capped at $886bn. “Well, my message is, I'm a Reagan Republican,” Sen Lindsey Graham (R-SC) told The Independent. “And you do military budgets based on threats and you want to fight over the role of the Republican Party on national defence, I welcome the fight.” Mr Graham expressed concern that it would lead to the United States not being able to support Ukraine in its war against Russia. “And if you want to avoid conflict, you better stand up to aggression,” he said. Sen Susan Collins (R-ME) echoed those concerns in a floor speech. “It would trigger an automatic meat an indiscriminate across-the-board cut in our already inadequate defence budget and in the domestic discretionary non-defence funding,” Sen Susan Collins (R-ME) said in a floor speech. “This would happen automatically if in fact all 12 appropriations bills have not been passed.” Ms Collins said that such a problem could be remedied through a defence supplemental package, which other Senators have also discussed. “It was important for some of our members to have folks on the record, acknowledging that there clearly could be a need will be a need for additional assistance for our national security interests,” Senate Minority Whip John Thune (R-SD) told The Independent. But some Republicans said they still opposed the debt limit increase. “Trade deficit with China,” Sen Josh Hawley (R-MO) told The Independent about why he opposed the bill. “Not gonna do anything about it.” Before the votes began, the Senate went into overtime with negotiations, with Sen Kyrsten Sinema (I-AZ) serving as an intermediary between Democrats and Republicans. “The President took too long but he had his own process and we got to save the country from having to fall,” Sen Mitt Romney (R-UT) told The Independent. “Speaker McCarthy has been underestimated and he's proven that he could get something done.” Conversely, Sen Tim Kaine (D-VA) proposed an amendment to strike a provision to expedite the completion of the Mountain Valley Pipeline, a natural gas pipeline that spans from West Virginia to Virginia, that ultimately failed 30 to 69. The pipeline is a top priority for Sen Joe Manchin (D-WV). Mr Manchin celebrated the inclusion of the pipeline in the agreement. “It’s important for our country, very much important,” Mr Manchin told The Independent. The approval of the pipeline triggered Sen Ed Markey (D-MA), an outspoken advocate for combating climate change, from opposing the legislation. But Sen Brian Schatz (D-HI), another climate hawk, said he would vote for it. “The agreement is the agreement we're going to have to vote for it,” he told The Independent. Other Democrats criticised the fact the bill imposed work requirements for the Supplemental Nutrition Assistance Program, known as SNAP and formerly called food stamps, for adults between the ages of 50 and 54 who do not have children and do not have disabilities. “I did not agree to these SNAP restrictions, and I won’t give Republicans an opening to try and take food from more food insecure Americans in Farm Bill negotiations later this year,” Mr Fetterman said in a statement after the vote. “As I communicated to leadership and the White House, I would have voted to avoid default if it would have made the difference. All in all, this was a tough vote and an ugly situation manufactured by extortionists. While we avoided a catastrophe this time around, we should never put the country in this situation again.” Mr Fetterman said Mr Biden should have invoked the 14th amendment to the US Constitution to avoid a default on the nation’s debt. The vote signals the end to a drawn-out fight between the Republican-controlled House on one end and a Democratic-controlled Senate and the White House on the other. Mr Schumer said the quick passage of the legislation showed the willingness to the Senate to avoid a catastrophic default. Read More 'Shrink the room:' How Biden and McCarthy struck a debt-limit deal and staved off a catastrophe Underestimated McCarthy emerges from debt deal empowered as speaker, still threatened by far right Biden and McCarthy’s debt limit deal went through – but there are winners and losers 'Shrink the room:' How Biden and McCarthy struck a debt-limit deal and staved off a catastrophe Biden and McCarthy’s debt limit deal went through – but there are winners and losers What’s next for Biden-McCarthy debt limit deal as Senate races to beat default?
2023-06-02 11:29
Clorox cuts annual forecasts on cyber attack woes
Clorox cuts annual forecasts on cyber attack woes
Cleaning supplies company Clorox on Wednesday cut its annual profit and revenue forecasts, reeling from an August cyberattack
2023-11-02 04:17
In-car radar could save children from tragic hot car deaths
In-car radar could save children from tragic hot car deaths
New technologies hold the promise of putting a stop to a deadly trend that has come surging back as more busy parents return to their workplaces. Hot car deaths liof children have happened at least eight times so far this year, according to the auto safety group KidsandCars.org.
2023-06-29 20:26
Fed’s Jefferson Says Inflation High, But Policy ‘On Track’
Fed’s Jefferson Says Inflation High, But Policy ‘On Track’
Federal Reserve Governor Philip Jefferson said progress on inflation this year has been “mixed,” but noted that policy
2023-05-13 09:56
Potential Olympics sponsorship deal tests LVMH heir Antoine Arnault
Potential Olympics sponsorship deal tests LVMH heir Antoine Arnault
By Mimosa Spencer PARIS The final shape of LVMH's likely Olympics sponsorship rests on Antoine Arnault, one of
2023-06-15 00:58
Oatey Co. Acquires Netherlands-Based Lansas B.V., Expanding Its Footprint in European Waterworks Market
Oatey Co. Acquires Netherlands-Based Lansas B.V., Expanding Its Footprint in European Waterworks Market
CLEVELAND--(BUSINESS WIRE)--Aug 1, 2023--
2023-08-02 02:22
Summit Ridge Energy and Black Bear Energy Celebrate 17 MWs of Rooftop Community Solar Projects in Maryland
Summit Ridge Energy and Black Bear Energy Celebrate 17 MWs of Rooftop Community Solar Projects in Maryland
ARLINGTON, Va.--(BUSINESS WIRE)--Aug 30, 2023--
2023-08-31 02:17
Here Are the Options China Still Has for Stimulating Its Economy
Here Are the Options China Still Has for Stimulating Its Economy
China should ramp up government borrowing, offer more tax breaks to businesses and keep cutting interest rates to
2023-07-13 13:58
** Defiance Launches $IWMY, the Only ETF to Utilize Daily Options on the Russell 2000 for Enhanced Income. Paid Monthly1.
** Defiance Launches $IWMY, the Only ETF to Utilize Daily Options on the Russell 2000 for Enhanced Income. Paid Monthly1.
MIAMI--(BUSINESS WIRE)--Oct 31, 2023--
2023-10-31 13:17
Clean Energy’s First Renewable Natural Gas Facility Begins to Sell Environmental Credits
Clean Energy’s First Renewable Natural Gas Facility Begins to Sell Environmental Credits
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Oct 31, 2023--
2023-10-31 18:56
A 1,900% Index Surge Draws Regulator Action on Tiny India Stocks
A 1,900% Index Surge Draws Regulator Action on Tiny India Stocks
India’s markets regulator is tightening its oversight of platforms meant for tiny businesses, a segment that’s more prone
2023-09-26 14:47