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Top US banks at risk of rating downgrade
9Aug By Shoah - The Palestinian HolocaustNo Comments
USA

Top US banks at risk of rating downgrade

A potential cut even threatens financial giants such as JPMorgan, according to an agency analyst © Getty Images / LewisTsePuiLung The US banking sector could be hit with a spate of rating cuts including for the likes of JPMorgan Chase and Bank of America due to the industry’s deteriorating health, Fitch analyst Chris Wolfe told CNBC on Tuesday.  According to Wolfe, Fitch cut its assessment of the industry’s “operating environment” back in June amid pressure on the country’s credit rating, regulatory gaps exposed by regional bank failures, and uncertainty around interest rates. That move went largely unnoticed, Wolfe claims, because it did not lead to downgrades on banks. However, another one-notch downgrade of the industry’s score, from AA- to A+, ...
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Trump must turn himself in at Georgia jail
9Aug By Shoah - The Palestinian HolocaustNo Comments
USA

Trump must turn himself in at Georgia jail

Local law enforcement said the accused could show up for booking “at any time” FILE PHOTO: Former President Donald Trump speaks to supporters during a visit to the Iowa State Fair in Des Moines, Iowa, August 12, 2023. ©  AP / Charlie Neibergall Former US President Donald Trump and 18 co-defendants accused of racketeering are set to be booked on their charges at a county jail in Georgia, a departure from the courthouse processing seen in his three other criminal cases. The Fulton County Sheriff’s Office announced the decision on Tuesday, saying that Trump and the other defendants could appear at the local jail to turn themselves in “at any time,” though noted the plan is still subject to change due to the “unprecedented nature” of the case. ...
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US city sends weapons seized from criminals to Ukraine
9Aug By Shoah - The Palestinian HolocaustNo Comments
Ukraine, USA

US city sends weapons seized from criminals to Ukraine

Among the firearms donated by Miami were handguns and automatic rifles for police officers ©  Ukraine's National Police / Telegram Miami police have delivered a package of small arms to Ukraine consisting of weapons that were either seized from criminals or bought back from the city’s residents, Ukrainian law enforcement officials have announced. The handover ceremony took place in the Ukrainian city of Irpen in Kiev Region on Tuesday, and was attended by Gennady Fedoryuk, deputy head of the National Police, and Miami Police Chief Manuel Morales. “Weapons seized from criminals on the streets could be used as instruments of crime. At the same time, these weapons transferred to our units will become another tool for maintaining order and security,” Fedoryuk sa...
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Russia may bring back capital controls
9Aug By Shoah - The Palestinian HolocaustNo Comments
Russia

Russia may bring back capital controls

Authorities are discussing the measure in response to the ruble’s fall, the media outlet has reported © Sputnik / Sergey Pyatkov The Russian authorities are considering partial capital control measures to stem the ruble’s slide, Bloomberg has reported citing four unnamed sources familiar with the discussions. The proposal to mandate sales of export revenues was reportedly debated between the government and exporters on Monday with no breakthrough reached. Another meeting was set to take place later this week.  On Monday, the ruble sank to a 16-month low against major currencies, reaching 101 versus the US dollar, and 111 against the euro. The Russian currency strengthened after the central bank hiked the key interest rate to 12% from 8.5% on Tuesday, but lat...
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Trump must turn himself in at Georgia jail
9Aug By Shoah - The Palestinian HolocaustNo Comments
USA

Trump must turn himself in at Georgia jail

Local law enforcement said the accused could show up for booking “at any time” FILE PHOTO: Former President Donald Trump speaks to supporters during a visit to the Iowa State Fair in Des Moines, Iowa, August 12, 2023. ©  AP / Charlie Neibergall Former US President Donald Trump and 18 co-defendants accused of racketeering are set to be booked on their charges at a county jail in Georgia, a departure from the courthouse processing seen in his three other criminal cases. The Fulton County Sheriff’s Office announced the decision on Tuesday, saying that Trump and the other defendants could appear at the local jail to turn themselves in “at any time,” though noted the plan is still subject to change due to the “unprecedented nature” of the case. ...
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The Deadly Intersection of Labor Exploitation and Climate Change
9Aug By Shoah - The Palestinian HolocaustNo Comments
Environment

The Deadly Intersection of Labor Exploitation and Climate Change

BY SONALI KOLHATKAR Photo by Chris Gallagher As temperatures soar in the United States this summer, some among us are lucky enough to be able to remain in air-conditioned interior spaces, ordering food, groceries, clothing, and other products to be delivered to us. The rest, toiling in the extreme heat to pull products off hot warehouse shelves and drop them off curbside in scorching delivery trucks, are risking health and even life. July 2023 marked the planet’s hottest month on record. In San Bernardino, California, where retail giant Amazon has a massive warehouse and fulfillment center, daily temperatures reached triple digits for the majority of days in July and have been dangerously hot all summer. Workers with the Inland Empire Amazon Workers U...
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RFK Jr. , the Foe of Covid Lockdowns, Wants to Lock Out “Economic Migrants”
8Aug By Shoah - The Palestinian HolocaustNo Comments
Politics, USA

RFK Jr. , the Foe of Covid Lockdowns, Wants to Lock Out “Economic Migrants”

BY ED RAMPELL RJK Jr., Youtube screengrab. Robert F. Kennedy Jr., son/nephew of a political dynasty and current candidate for president running in the Democratic Party primaries, is widely portrayed by the press as a kooky conspiracy theorist. But he has scored as high as 20% in the polls. Is Bobby Jr. being accurately represented or a serious competitor to Joe Biden for the Democrats’ nomination, who is being maligned and misrepresented? To find out for myself, I attended a press conference/campaign rally for the presidential contender on August 3 at the Saban Theatre in Beverly Hills. High Profile Political Journeys The almost two-hour event focused on one topic: The so-called border crisis, which, if he’s elected president, Kennedy Jr. promised “will be one of my highes...
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‘Project 2025’ Will Goose Up Global Heat
8Aug By Shoah - The Palestinian HolocaustNo Comments
Environment

‘Project 2025’ Will Goose Up Global Heat

BY ROBERT HUNZIKER Image by Roxanne Desgagnés. The Far-Right takeover of the Republican Party has readied a battle plan for 2025 that will crucify commitments to fight global heat, namely: Project 2025 / Presidential Transition Project, a 920-page formal proposal to take over and reconstruct government via abandonment and/or defunding of federal agencies that protect the nation’s health and environment. Project 2025’s call to arms: “The long march of cultural Marxism through our institutions has come to pass. The federal government is a behemoth, weaponized against American citizens and conservative values, with freedom and liberty under siege as never before.” (Source: The 2025 Presidential Transition Project, A Note on “Project 2025” Mandate for Leadership: The Co...
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Teamsters Were Ready to Strike, UPS Couldn’t Have That
8Aug By Shoah - The Palestinian HolocaustNo Comments
USA

Teamsters Were Ready to Strike, UPS Couldn’t Have That

BY EVE OTTENBERG Photograph Source: Justin Henry – CC BY 2.0 It’s not over till it’s over, but right now the odds are that 340,000 Teamsters will not walk out on their UPS boss. The original strike deadline, August 1, evidently scared, well, everyone at the top into some uncharacteristically sober thinking. So on July 25, UPS reached a tentative contract. According to AP on that date, the agreement was announced “the first day that UPS and the Teamsters returned to the table after contentious negotiations broke down earlier this month.” At issue was life-saving air-conditioning in UPS delivery trucks, some of which the union appears to have won. But pay for part-timers, a huge segment of UPS union employees, is still a bone of contention. Naturally, union leadership is e...
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The Cheapest Tax Ever: Taxing Share Buybacks
8Aug By Shoah - The Palestinian HolocaustNo Comments
USA

The Cheapest Tax Ever: Taxing Share Buybacks

BY DEAN BAKER Photograph Source: Jonathan Cutrer – CC BY 2.0 I just saw a piece touting the tax on share buybacks as the basis of the investment boom we are seeing in factory construction. I’m a bit skeptical on that one, I think the incentives provided by the CHIPS Act and the Inflation Reduction Act (IRA) are a far bigger deal, but if taxing buybacks gave a little extra kick, I’m fine with that. But there is another aspect to the tax on buybacks that deserves far more attention than it is getting. The tax on buybacks is likely going to be the most administratively efficient tax we have ever seen. If we think about other taxes, like the individual or corporate income tax, property taxes, or even payroll taxes, the government has to do lots of footwork to determine ho...
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