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    Climate change is worsening the already significant threat of flooding in California’s farm country, and state officials said Thursday that as much as $30 billion may be needed over three decades to protect the region, an increase from five years ago. Every five years, flood protection plans are updated for the Central Valley, where about 1.3 million people live at risk in floodplains. State officials released a draft of the latest update that calls for investing in levees, maintenance and multi-benefit projects that recharge aquifers and support wildlife while enhancing flood protection. The investments are necessary to protect a growing region where climate change is expected to worsen the chance of heavy rains and flooding, especially for the San Joaquin river basin. “Climate change is no longer the future boogeyman that it once was. It’s here,” said Kristopher Tjernell, deputy director of integrated watershed management at the California Department of Water Resources. The cost of maintenance and new construction increased in part due to those changes and a better understanding of what is needed, according to the draft. The...
    Bloomberg News (Bloomberg) — Russia’s military pressed on with its offensive in southern and eastern Ukraine, with President Volodymyr Zelenskiy saying Moscow had launched a new campaign focused on conquering the Donbas region.  U.S. President Joe Biden will hold a call with key allies Tuesday to discuss Ukraine. The meeting comes amid efforts to coordinate supplies of heavy weapons to Kyiv to counter Russia’s assault in the east, while European governments tentatively begin reopening their diplomatic missions further west. Spanish Prime Minister Pedro Sanchez will head to Kyiv this week, local media reported, after announcing Monday that Spain would reopen its embassy. The Dutch government said some embassy staff had returned to Ukraine on April 16. (See RSAN on the Bloomberg Terminal for the Russian Sanctions Dashboard.) Key Developments Putin Calls Time on Foreign Listings in Fresh Blow to Tycoons Denmark to Hike Gas Output to Help Europe Wean Off Russia Supply Europe Expects to Pay Bulk of Ukraine’s Reconstruction Costs Putin Plans to Meet Big Business Owners and Executives Wednesday Crypto Donations Face Ban in Ireland to Avert...
    The Biden administration is asking Congress to approve another multibillion-dollar round of COVID-19 funding, even as the Centers for Disease Control and Prevention signals the country is moving into a new phase of the pandemic. At Wednesday's White House COVID task force briefing, CDC Director Rochelle Walensky told reporters that the CDC is currently reviewing its mask guidance and hinted that an update might soon be announced. Walensky specifically said the review was a product of wanting "to give people a break from things like mask-wearing when metrics are better" and comes after a number of Democratic governors and mayors have recently dropped state masking mandates. BIDEN ADMINISTRATION PLANS TO EASE MASK GUIDANCE White House senior COVID-19 adviser Jeff Zients said at that same briefing that the administration had delivered 50 million of its free, at-home testing kits, 200 million individual tests in total, since launching its elective program earlier this year. Zients added that the U.S. is moving toward treating COVID-19 as a manageable illness rather than a crisis. However, the Department of Health and Human Services recently briefed...
    Jim CramerScott Mlyn | CNBC (This article was sent first to members of the CNBC Investing Club with Jim Cramer. To get the real-time updates in your inbox, subscribe here.) After you receive this email, we will be buying 50 shares of Danaher (DHR) at roughly $302.66. Following the trade, the Charitable Trust will own 350 shares of Danaher. This buy will increase DHR's weight in the portfolio from about 2.15% to roughly 2.5%. A handful of stocks in the Charitable Trust are on the move Tuesday after management updated their outlook for the fourth quarter and beyond. Here, we break down the guidance updates and share our thoughts on the stocks.Loading chart... Danaher provided an update to its fourth-quarter 2021 outlook ahead of its presentation at the JPMorgan Healthcare Conference. Danaher now estimates fourth-quarter revenue increased in the high-teens to low-twenties percent range, with core revenue growth in the high-teens percent range. The consensus fourth-quarter revenue estimate on FactSet implied 16% revenue growth, meaning Danaher's update this morning was much better than what analysts were anticipating. As noted by CEO...
    Supreme Court majority skeptical of New York law that limits carrying handguns in public Marjorie Taylor Greene Fined Nearly $50K for Violating Mask Rules: I Will Continue My Stand (Bloomberg) -- Greta Thunberg showed up at COP at last, prompting a stampede of delegates trying to get a glimpse of her in the same room as Mark Carney. Carney was talking about offsets and Thunberg doesn’t approve. Most Read from Bloomberg Supply Chain Crisis Risks Taking the Global Economy Down With It China’s Climate Goals Hinge on a $440 Billion Nuclear Buildout Into the Metaverse: Where Crypto, Gaming and Capitalism Collide Atlanta’s Crowded Election Pits Former Mayor Versus ‘Anyone But’ Results on Key Ballot Initiatives, From Policing to the Environment Carney and the financial elite have been center-stage for most of the day, as a group of banks, investors and insurers announced that $130 trillion of assets are now pursuing net-zero emissions by 2050. Load Error But as the industry hailed its progress, anger from poorer nations with most to lose from climate change and activists continued...
    Fact check: False claim that CNN wrote about In-N-Out, white supremacy Tennis star accuses top Chinese official of abuse (Bloomberg) -- Crowds thronged to attend an event at the COP26 summit dedicated to the finance industry, as it became clear that Greta Thunberg was in the audience. The teen activist was tweeting criticism of banks and oil companies as she waited. Most Read from Bloomberg Supply Chain Crisis Risks Taking the Global Economy Down With It China’s Climate Goals Hinge on a $440 Billion Nuclear Buildout Into the Metaverse: Where Crypto, Gaming and Capitalism Collide Atlanta’s Crowded Election Pits Former Mayor Versus ‘Anyone But’ Results on Key Ballot Initiatives, From Policing to the Environment Financial firms representing $130 trillion in assets have now pledged to reach net zero emissions by 2050. Former Bank of England Governr Mark Carney, who represents the group as its co-chair, called it a “watershed” moment.   Load Error But on the sidelines, the poorest nations -- whose very existence is threatened by climate change -- stepped up their calls for more action....
    Time for parents to celebrate as CVS, Walgreens open vaccine appointments for kids 5-11, Walensky says: COVID-19 updates Election results live updates: McAuliffe concedes to Youngkin; tight NJ governors race too close to call (Bloomberg) -- The COP26 summit turned its attention to the finance industry’s contribution to the fight against climate change on Wednesday, with bankers rolling out huge numbers as evidence of their commitment to the cause.  Most Read from Bloomberg Supply Chain Crisis Risks Taking the Global Economy Down With It China’s Climate Goals Hinge on a $440 Billion Nuclear Buildout Into the Metaverse: Where Crypto, Gaming and Capitalism Collide Atlanta’s Crowded Election Pits Former Mayor Versus ‘Anyone But’ Results on Key Ballot Initiatives, From Policing to the Environment Financial firms representing $130 trillion in assets have now pledged to reach net zero emissions by 2050. Former Bank of England Governor Mark Carney, who represents the group, called it a “watershed” moment.   Load Error But on the sidelines, the poorest nations -- whose very existence is threatened by climate change -- stepped up...
    Heres what its like to live in one of Charlie Mungers windowless dorms Fired for refusing to get vaccinated? You might not be able to collect unemployment benefits (Bloomberg) -- The COP26 summit turned its attention to the finance industry’s contribution to the fight against climate change on Wednesday, with bankers rolling out huge numbers as evidence of their commitment to the cause.  Most Read from Bloomberg Supply Chain Crisis Risks Taking the Global Economy Down With It China’s Climate Goals Hinge on a $440 Billion Nuclear Buildout Into the Metaverse: Where Crypto, Gaming and Capitalism Collide Atlanta’s Crowded Election Pits Former Mayor Versus ‘Anyone But’ Ballot Initiatives to Watch, From Policing to the Environment A group of global banks making up some 40% of financial assets said their combined balance sheets now mean that over $130 trillion is committed to reaching net zero emissions by 2050. Former Bank of England Governor Mark Carney, who represents the group, said this is a “watershed” moment.   Load Error But on the sidelines, the poorest nations -- whose very...
    Texas urges Supreme Court to leave abortion law in place House is poised to hold Steve Bannon in contempt for snubbing Jan. 6 committee (Adds quotes, details) Load Error By David Ljunggren OTTAWA, Oct 21 (Reuters) - Canada will not extend existing broad-based COVID-19 support programs for companies and individuals when they expire on Saturday because the economy is recovering well, Finance Minister Chrystia Freeland said on Thursday. Instead, Ottawa will introduce more targeted and less expensive measures to help particularly hard-hit sectors such as the tourism industry. These new programs will cost a total of C$7.9 billion ($6.4 billion) between Oct. 24 and May 7, 2022, compared with the C$289 billion Canada has already spent, Freeland said. "Our economy is rebounding, and we are winning the fight against COVID," she told reporters. For the next few months, Ottawa will help hotels, restaurants and travel agencies that are still facing public health restrictions. It will also help cover the rent costs of employers who can show they have faced deep, enduring losses. A third program is for companies...
    DHS bulletin warns of online threats ahead of Justice for J6 rally Petito mystery grows after police bodycam video shows trouble on the road * Rich nations under pressure to deliver unmet $100-billion pledge * More ambitious climate plans hinge on international funding * Eyes on U.S. to boost finance at U.N. gathering next week (Adds 2019 climate finance data and U.N. climate chief comment) By Beh Lih Yi and Megan Rowling KUALA LUMPUR/BARCELONA, Sept 17 (Thomson Reuters Foundation) - F or a storm-prone developing country like the Philippines, receiving international funding to protect its people from wild weather and adopt clean energy is not only an issue of global justice - the money is essential to deliver on its climate plan. Without promised support, many vulnerable poorer nations - battered by the economic impacts of COVID-19 and surging climate disasters - say they simply cannot take more aggressive action to cut planet-heating emissions or adapt to a warmer world. The Philippines, for example, has pledged to reduce its emissions 75% below business-as-usual levels by 2030. But only about...
    NEW JERSEY -- About half a million New Jersey residents stand to lose a $300 federal unemployment benefit when it expires on Saturday.Democratic gov. Phil Murphy said Monday during a COVID-19 news conference that it would cost the state more than $1 billion a month to pick up the unemployment insurance tab from the federal government."The proper way to extend federal UI benefits is through federal action, not a patchwork of state ones," he said. "The reality is that continuing the $300 per week benefit through state resources would be cost-prohibitive."The expiration will affect about 500,000 people, according to the state Department of Labor.Federal jobless aid was first approved in 2020 when COVID-19 outbreak hit, sending jobless to record highs in New Jersey amid pandemic-related shutdowns.The state has administered $33.7 billion directly to 1.6 million residents since the start of the pandemic, the governor said. The lion's share - $25 billion - has come from the federal government.To those unemployed residents affected by the expiration of the federal benefit, Murphy pointed to the state's minimum wage, which will rise to...
    Alabama sees sharp rise in cases among school-age children; Idaho hospitals in crisis as beds fill: Live COVID-19 updates Understanding elephant trunks could be a breakthrough for robotics (Adds quotes from news conference) Load Error By Chris Mfula LUSAKA, Aug 27 (Reuters) - Zambia's newly-appointed finance minister on Friday pledged to conclude talks with the IMF on a lending programme by October, as he seeks to pull the southern African country out of its protracted debt crisis. President Hakainde Hichilema, who was elected earlier this month by a landslide, named Situmbeko Musokotwane, an experienced international economist, to a second stint as Zambia's finance minister. The appointment of Musokotwane, who held the same post from 2008 to 2011, was announced three days after Hichilema pledged at his swearing-in ceremony to bring public spending and the budget deficit under control. "Unless we do something to the budget, then the budget will be mainly for paying salaries and also servicing debt," with nothing left over to invest in developing the country, Musokotwane said in a news conference after his appointment. Musokotwane...
    Floodwaters in Waverly, Tennessee, shattered homes and families; dozens still missing House panel probing Arizona ballot review gives Cyber Ninjas Friday deadline to cooperate (Adds details, lawyer response) Load Error JOHANNESBURG, Aug 23 (Reuters) - South Africa will extradite former Mozambique finance minister Manuel Chang to his home country, its justice department said on Monday, years after he was arrested in Johannesburg over his role in Mozambique's $2 billion debt scandal. Chang, who denies wrongdoing, has been in custody since his 2018 arrest in South Africa at the request of the United States, which had charged Chang with crimes for his alleged involvement in $2 billion in borrowing that U.S. authorities said was fraudulent. Mozambique, where a criminal case against 19 others accused in the scandal opened on Monday, subsequently requested Chang's extradition, prompting a court battle over his custody that ultimately left the decision on where he should be sent in the hands of Ronald Lamola, the justice minister. "The Ministry of Justice and Correctional Services... confirms that a decision has been taken to extradite the accused...
    Ethereum (ETH / USD) fell back on Monday as some investors made a profit. The altcoin fell to $ 3,230, which was slightly below the weekend high of $ 3,340. It has a market capitalization of more than $ 377 billion USD and is the second largest cryptocurrency in the world after Bitcoin. Ethereum helped by update and DeFi Ethereum has had a strong bounce recently. The price of the coin has almost doubled in recent weeks after it fell to $ 1,700. In total, Ethereum has risen almost 90% from its lowest level in July. Looking for quick news, tips, and market analysis? Sign up for the Invezz newsletter today. There are several catalysts that have brought the price of Ethereum to recent levels. First, Bitcoin has also rallied by more than $ 16,000 in the last three weeks. In most cases, the price of Ethereum and other cryptocurrencies tends to follow that of Bitcoin. Second, Ethereum has been helped by developments in the decentralized finance (DeFi) industry. In recent weeks, the total locked value (TVL) in the...
    Attorneys for school shooter want pretrial hearings closed Overnight Health Care: How a GOP governor and a union leader changed their minds on COVID | DC to require COVID-19 vaccine or regular testing for city employees | Fauci supports vaccine mandates for teachers (Adds details on deal) Aug 10 (Reuters) - Truist Financial Corp said on Tuesday it would buy ECN Capital Corp's service finance business for $2 billion, aiming to expand its point-of-sale lending business. After the deal's expected close in the fourth quarter of 2021, ECN Capital intends to pay a special dividend of C$7.50 per common share, or about $1.5 billion, from the net proceeds to its common shareholders. ECN Capital acquired Service Finance Holdings LLC for C$410 million ($327.53 million) in cash in 2017. Truist said the acquisition would add to earnings per share from the second year after the deal close. ($1 = 1.2518 Canadian dollars) (Reporting by Mrinalika Roy in Bengaluru; Editing by Devika Syamnath)
    New York (CNN Business)Facebook's business is soaring, but the boom times may not last. Facebook (FB) on Wednesday reported revenue of nearly $29.1 billion for the three months ended June 30, a 56% jump from the same period last year when online advertising took a hit as businesses grappled with Covid-19. The company also more than doubled its quarterly profit to almost $10.4 billion, well above the $8.7 billion analysts projected. However, the outlook for the rest of 2021 is not so sunny, CFO David Wehner said in a statement. Sales growth could slow thanks to "regulatory and platform changes," Wehner said, specifically pointing to Apple's recent iOS app tracking rules. These changes, which went into effect in April, are likely to have a greater impact on Facebook's business in the third quarter than they did in the second, he said.Facebook's stock fell nearly 4% in after-hours trading following the earnings report. Read MoreHouse antitrust bills could change the internet as we know it. Heres howApple's (AAPL) iOS 14.5 software update requires that users give explicit permission for apps to...
    Idaho governor warns of mega-fires, urges public help Colombia bets on privately funded vaccinations (Adds quote from finance minister, details) Load Error By Nelson Bocanegra and Carlos Vargas BOGOTA, July 13 (Reuters) - Colombia will seek to raise at least $3.97 billion through a new tax reform measure to be proposed to Congress, Finance Minister Jose Manuel Restrepo said on Tuesday, as the government looks to shore up the country's finances amid credit rating troubles and growing debt. The 15.2 trillion peso target sum in the so-called social investment law is significantly lower than the 23.4 trillion pesos ($6.12 billion) sought by the government in April, before protests and lawmaker opposition forced that bill's withdrawal and the resignation of Restrepo's predecessor. "The first great consensus has to be concern for the vulnerable," Restrepo said during a launch event. The bill will be presented to Congress when the second legislative period of the year begins on July 20. Funds raised through the measure will be used to cover the fiscal deficit and shore up social programs as well as...
    As states cut unemployment benefits, some debate if aid discourages work CDC: Fully vaccinated students and teachers do not need to wear masks in school * G20 ministers urged to deliver after G7 disappoints Load Error * Green groups warn of COP26 failure if no fresh funds * G20 gives $297 billion to support fossil fuels since 2020 (Adds comments from UN chief, detail of Sunday climate conference) By Beh Lih Yi July 9 (Thomson Reuters Foundation) - The world's 20 largest economies faced mounting calls to boost climate finance for poorer nations as ministers met on Friday in Italy, with green groups warning a failure to deliver fresh money could throw November's key climate talks into doubt. Developed nations are under pressure ahead of the COP26 climate conference in Scotland to deliver a promised $100 billion a year for vulnerable countries to adopt clean energy and adapt to a warmer planet, up from about $80 billion in 2018. After a June summit of G7 leaders ended with a commitment to meet the $100-billion goal but lacked detail...
    Bloomberg SoftBank Nears End of $23 Billion Buyback, Imperiling Rally (Bloomberg) — Masayoshi Son has run almost all the way through $23 billion allocated to buy back SoftBank Group Corp. shares, raising concerns that his stock’s bull run will end without rapid intervention.The Tokyo-based company purchased more than $20 billion worth of its own shares over the past year through March, according to SoftBank filings, an unprecedented effort that more than doubled the value of the stock. Now, with only about 10% of the committed capital left, the program may run out as soon as next month, Bloomberg’s calculations show.Already, there are signs the buybacks are losing their power to lift SoftBank’s stock. Shares declined 5.7% in March, their worst monthly performance since the pandemic low a year earlier. They fell even as more money was spent on re-purchases, the overall markets advanced, and SoftBank’s profit for the March quarter is expected to hit a record.“Buybacks are coming to an end,” said Atul Goyal, senior analyst at Jefferies. “When that upward pressure on the stock price ends, the short bets...
    DC to pay $1.6M to settle suits after protests at Trumps inauguration Eric Adams gets support from Bronx BP Ruben Diaz Jr. for NYC mayoral run (Adds finance minister's comments to parliament) Load Error CAIRO, April 25 (Reuters) - Egypt expects its borrowing needs to rise by 7.1% to 1.068 trillion Egyptian pounds ($68.1 billion) in the financial year that will begin in July, according to a copy of the draft budget. The government projected raising 66 billion pounds of this by selling international bonds, down from 72 billion pounds this year, said the draft seen by Reuters. Finance Minister Mohamed Maait told parliament on Sunday that 2021/22 expenditure would be 2.46 trillion pounds. The budget was based on economic growth forecast at 5.4% - up from an estimated 2.8% this year - and inflation of 7%. The budget forecast an overall deficit equivalent to 6.8% of gross domestic product, down from 7.7% this year, and a primary surplus of 5.1%. "If they are able to achieve that, it would be very positive," said Allen Sandeep of Naeem...
    I Lead a Troop of Girl Scouts Living in NYC Shelters SpaceX docks at ISS on recycled rocket and capsule (Adds U.S. climate finance plan, comments from summit, updates throughout) Load Error By Megan Rowling BARCELONA, April 22 (Thomson Reuters Foundation) - The U.N. chief called for rich countries to make good on their promises of climate finance for developing nations at the G7 meeting in June, warning at a Thursday summit hosted by the U.S. president that the world is "at the verge of the abyss". Addressing the virtual summit on Earth Day, U.N. Secretary-General Antonio Guterres said "dangerous greenhouse gases are at levels not seen in 3 million years". He noted that global warming had already hit 1.2 degrees Celsius and is "racing toward the threshold of catastrophe". Climate heating - which governments agreed in 2015 to try to hold to a ceiling of 1.5C - is already causing "ever rising sea-levels, scorching temperatures, devastating tropical cyclones and epic wildfires", Guterres added. "We need a green planet - but the world is on red alert," he...
    InvestorPlace 7 Infrastructure Stocks Excited For The $2 Trillion Biden Plan Good infrastructure, including bridges, roads, airports, utilities, can increase the productive potential of an economy. President Joseph Biden has recently released details of his “Build Back Better” plan, which includes around $2 trillion of infrastructure spending stateside. Therefore, today’s article introduces seven infrastructure stocks excited for the $2 trillion Biden plan. Many analysts concur that a great deal of infrastructure across the nation has been in need of revitalization. Thus, the proposed projects will be welcome by many communities and citizens. Meanwhile, economists highlight the importance of infrastructure investment in driving economic growth, especially following the uncertainty created by the pandemic. According to recent research by Jeffrey M. Stupak of the Congressional Research Service (CRS), “Over the past several decades, government investment in infrastructure as a percentage of gross domestic product (GDP) has declined. Annual infrastructure investment by federal, state, and local governments peaked in the late 1930s, at about 4.2% of GDP, and since has fallen to about 1.6% of GDP in 2016.”InvestorPlace – Stock Market News, Stock...
    (Adds details) BERLIN, March 24 (Reuters) – Chancellor Angela Merkel’s cabinet approved a debt-financed supplementary budget of 60 billion euros ($71 billion) which will lift new borrowing to a record high of more than 240 billion euros this year, an official said on Wednesday. The revised budget plans underline Berlin’s readiness to continue massive deficit spending in the COVID-19 pandemic as Europe’s largest economy struggles to contain a third wave of coronavirus cases linked to a more infectious variant. Finance Minister Olaf Scholz also suggested a draft budget for next year with additional net new debt of 81.5 billion euros for which parliament will have to suspend a constitutional debt brake for a third year in a row, the official said. The debt plans mean that Germany’s overall pandemic-related borrowing could exceed 450 billions euros from 2020 to 2022. Scholz, who is running as the centre-left Social Democrats’ candidate to become chancellor in a federal election in September, will present the budget plans at a news conference later on Wednesday. The question how Germany should reduce its debt pile over...
    Bank of America has updated its bull and bear indicator that, as you know, we are following with great interest, because so far it has never failed, giving magnificent medium-term buying signals and warning of overheating. In this week’s update, the indicator is at 7.3 compared to 7.2 from the previous week, so it has not moved much, it has been almost in the same place for four weeks. It is still within the danger zone, although falling since it reached 7.7 several weeks ago. The bank itself says that it is from 8, but as it was seen before the February crash from 7 it already shows a very old market. And really, since it arrived in that area, there is a clear correction that has erased the losses of the year and in the case of the Nasdaq it is being really strong. Here is the updated sub-indicator families march And here is the historical graph of the indicator updated to the current date: In this article you can read about the reactions of the...
    WASHINGTON -- About 90 million stimulus payments, totaling more than $242 billion, have been sent as of Wednesday, the Treasury Department and Internal Revenue Service said.That likely covers more than half of the households eligible for this third round of payments, which were included in the $1.9 trillion Covid relief bill signed into law by President Joe Biden less than a week ago.A majority of this first batch of payments was sent via direct deposit and all of those recipients will have access to the funds Wednesday, the agencies said.The government has also mailed roughly 150,000 paper checks in the mail.Click here to access the IRS Get My Payment tool to check the status of your payment. EMBED More News Videos What to know about Joe Biden's primetime speech, the newly signed COVID bill and $1,400 stimulus checks. More batches of payments will go out in the coming weeks through direct deposit, paper checks and prepaid debit cards.No action is required for most people to receive the money. Social Security recipients and those who receive Veteran Affairs benefits should also...
    (CBS Detroit) — The third stimulus check is already starting to reach bank accounts. But the $1.9 trillion economic relief package, which President Biden signed into law last Thursday, includes a lot more than a $1,400 payment. The American Relief Plan attempts to ease the economic pain brought on by the ongoing COVID-19 pandemic. It contains programs that support struggling families, communities and small businesses, and fight the spread of COVID through testing, tracing and vaccinations. Some of these efforts may also put more money in your pocket. Exactly how much money depends on your financial situation. The programs and the rules surrounding them have changed somewhat from the last two stimulus packages. When that money arrives is more a function of how implementation plays out in the coming days and weeks. READ MORE: Third Stimulus Check: Will Your $1,400 Economic Relief Payment Arrive By This Weekend? Here’s what’s in the stimulus package. Third Round Of Stimulus Checks Given the $1,200 last spring and $600 this winter, a third payment seemed imminent if the economy continued to falter. The $1,400...