During her official meetings in China, U.S. Treasury Secretary Janet Yellen emphasized the importance of pursuing market-oriented reforms and addressing overcapacity concerns. Yellen’s visit to Guangzhou and Beijing highlighted the need for a healthy economic relationship that benefits both American and Chinese economies. The issue of China’s industrial overcapacity, which can have global spillover effects,
Politics
British billionaire Joe Lewis has found himself in hot water after being ordered to pay a $5 million fine and serve three years of probation for sharing illegal stock tips. U.S. District Judge Jessica Clarke in Manhattan handed down the sentence after Lewis pleaded guilty to one count of conspiracy and two counts of securities
In a recent case that has captured public attention, two Florida brothers, Michael Shvartsman and Gerald Shvartsman, pleaded guilty to insider trading charges in New York federal court. The charges were related to their purchase and sale of securities of Digital World Acquisition Corp., a shell company that eventually merged with former President Donald Trump’s
The recent phone call between President Joe Biden and Chinese President Xi Jinping was described as an opportunity for the two leaders to “check in” and manage the strained U.S.-China relationship. The White House emphasized the need for intense diplomacy to address tensions, misperceptions, and prevent unintended conflict. This call was seen as a way
The aftermath of the two-week operation by Israeli forces at Al Shifa Hospital in Gaza City has left a wasteland of destroyed buildings and the shocking sight of Palestinian bodies scattered in the dirt of the complex. The area around the Gaza Strip’s largest hospital has become a scene of devastation, with hundreds of residents
The recent collapse of Baltimore’s Francis Scott Key Bridge has had far-reaching implications that extend beyond the city and state of Maryland. This tragic event is being described as a national economic catastrophe by Maryland Governor Wes Moore. The bridge collapse has disrupted a key shipping route that serves as a primary access point for
Engineers in Maryland have embarked on the challenging task of lifting a piece of the Francis Scott Key Bridge out of the waterway in Baltimore. This marks the first step in the extensive process of reopening the city’s shipping port. Governor Wes Moore emphasized the significance of this moment, calling attention to the complexity of
Former President Donald Trump and other defendants in the Georgia election interference case are pushing for an appeal of a judge’s ruling allowing Fulton County District Attorney Fani Willis to stay on the case. The defendants had previously raised concerns about a conflict of interest due to Willis’ romantic relationship with special prosecutor Nathan Wade.
Sam Bankman-Fried, the founder of FTX, was recently sentenced to 25 years in prison for a massive fraud and conspiracy that led to the downfall of his cryptocurrency exchange and related hedge fund. This sentence came as a shock to many, as federal prosecutors had initially sought 40 to 50 years behind bars, while Bankman-Fried’s
The recent warning from Treasury Secretary Janet Yellen regarding China’s approach to the global economy has sparked concerns about the impact of the country’s surplus of clean energy products. Yellen highlighted the fact that China is utilizing its excess capacity to flood international markets with cheaper products, leading to distortions in prices and production patterns.