House Republicans adopted legislation to finance the Department of Defense until fiscal year 2024 late Thursday night, a victory for GOP leaders when they decided to remove Ukraine funds from the plan after two failed procedural votes. Approving the plan will not help Congress avoid a government shutdown before the September 30 deadline, but House … Read more
China Eastern Airlines announced on Thursday that it will purchase another 100 C919 planes in a transaction worth $10 billion at list prices, the largest order for the jet ever placed by the Commercial Aircraft Corporation of China (COMAC). The state-owned carrier stated that it secured a “substantial discount” for the agreement and that the … Read more
According to reports, Rep. Matt Gaetz, R-Fla., got into a furious discussion with House Speaker Kevin McCarthy in a closed-door meeting Thursday, as tensions on Capitol Hill rise amid an impending government shutdown. Gaetz told The Hill that he questioned McCarthy whether he was paying people “to create false negative sentiment” about him online. His … Read more
The Chinese government has issued a navigation alert due to scheduled military drills in sections of the South China Sea. The Guangdong Maritime Safety Administration stated that the warning would be in effect on September 28 from 6am (22:00 GMT) to 11:30am (03:30 GMT) and from 6pm (10:00 GMT) to 9:30pm (13:30 GMT). “Military exercises … Read more
Finance Minister Shunichi Suzuki said on Thursday that Japan will not rule out any solutions to cope with excessive currency volatility, reinforcing a caution against speculative swings on the yen, which is wallowing near 11-month lows against the dollar. When asked if the government planned to conduct rate checks, which is normally a precursor to … Read more
On Wednesday, oil prices surged over $1 as markets focused on supply constraints heading into winter and a “soft landing” for the US economy. By 0340 GMT, Brent crude prices had risen 86 cents, or 0.9%, to $94.82 per barrel, while West Texas Intermediate crude futures had risen 86 cents, or 0.9%, to $91.25. According … Read more
House Republicans cleared four full-year budget measures on Tuesday, giving Speaker Kevin McCarthy (R-Calif.) a little victory but accomplishing little to stave a government shutdown at the end of the month. The chamber voted 216-212 to begin debating funding bills for the Departments of Defense, Homeland Security, State, and Foreign Operations, as well as Agriculture, … Read more
California Governor Gavin Newsom signed a first-in-the-nation state excise tax on firearms and ammunition purchases into law on Tuesday, with the goal of earning $160 million per year to reduce gun violence in schools and elsewhere. The California excise tax, which is set to take effect in July 2024, will essentially add an 11% levy … Read more
Tuesday’s Asian trade was subdued due to concerns over a probable US government shutdown and the Chinese economy. In early trade, Japan’s benchmark Nikkei 225 index fell 0.8%. The S&P/ASX 200 in Australia fell 0.5%, while the Kospi in South Korea fell 1.2%. The Hang Seng in Hong Kong fell 0.6%, while the Shanghai Composite … Read more
According to a person familiar with the discussions, Senate Republican and Democratic negotiators are close to reaching an agreement on a short-term budget bill to keep the government operating after Oct. 1. The measure would extend financing for four to six weeks, according to the individual, who did not want to be identified because they … Read more
