Janet Yellen: US Treasury is in danger of running out of cash in October September 9, 2021 Janet Yellen has warned the US Treasury is in danger of running out of cash in October unless Congress raises the debt ceiling, as the government walks on a tight rope to avoid a possible US default. In a letter to House Speaker Nancy Pelosi and other lawmakers yesterday, the Treasury secretary said a “specific [...]
Afghanistan: G7 leaders prepare for emergency meeting as evacuation deadline looms August 24, 2021 G7 leaders are under pressure to present a united front at an emergency meeting this afternoon on the crisis in Afghanistan. Leaders of the UK, US, Canada, France, Italy, Germany and Japan are to discuss how to coordinate their response to the crisis. The online talks chaired by UK Prime Minister Boris Johnson will also [...]
City Moves: Who’s switching jobs in the Square Mile this week? July 21, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Ex-UBS and Canary Wharf Group chiefs join construction-tech firm British construction technology company Modulous has bolstered its London workforce with former Canary Wharf and UBS leads this week. Former director of the Canary Wharf Group Chris [...]
US, UK and allies accuse China of global ‘cyber sabotage’ including Microsoft hacks July 19, 2021 The United States government and a coalition of allies, including the UK and the EU, have accused China of a orchestrating a global cyber hacking campaign that included the major Microsoft attack earlier this year. A senior administration official speaking on behalf of the US government accused China’s Ministry of State Security of working with [...]
Biden fundraiser Jane Hartley tapped as new US ambassador to the UK July 17, 2021 Joe Biden is set to pick Jane Hartley, a prolific Democrat fundraiser and former US ambassador to France, as the new envoy to the UK, according to diplomatic sources. It comes after weeks of deliberation over who would occupy the role – with billionaire former mayor of New York Michael Bloomberg, former secretary of state [...]
Biden infrastructure plan receives backing as Democrats support $3.5 trillion investment July 14, 2021 Leading Senate Democrats have provided Joe Biden’s new infrastructure plan with a big boost after they agreed on a $3.5 trillion investment plan that they aim to include in the budget resolution that is debated soon. Senate Majority Leader Chuck Schumer told reporters that “we have come to an agreement.” It came after two hours [...]
Biden to sign executive order cracking down on Big Tech July 9, 2021 US President Joe Biden will today sign an executive order aimed at clamping down on anti-competitive behaviour in Big Tech and across a host of other sectors. In a sweeping set of reforms, the president will call on more than a dozen agencies to undertake 72 initiatives aimed at promoting competition across the US economy. [...]
US lobby groups gear up to fight Biden corporate tax hikes July 6, 2021 US business lobbying groups are preparing to stop new corporate tax hikes in a spending bill linked to the bipartisan $1.2tr (£870bn) infrastructure deal. As reported by Reuters, the US Chamber of Commerce, the National Association of Manufacturers, the National Retail Federation and other wealthy lobby groups plan to sway a handful of Democrats against [...]
Biden turns on the investment taps with $1.2 trillion bill agreement June 25, 2021 The US Senate has finally agreed on a $1.2 trillion infrastructure bill, which was watered down some $1.1 trillion from Biden’s original pitch. The deal, worth an eyewatering £860bn, accompanies an eight-year plan to fund roads, bridges, the power grid, public transport and the internet. However, left-wing Democrats have called the deal ‘paltry’ after Biden [...]
Biden–Putin summit: Leaders agree to resume talks after ‘constructive’ discussions June 16, 2021 US president Joe Biden and Russian president Vladimir Putin today discussed in detail steps they will take on arms control at a “positive” summit in Geneva. Putin at a press conference described the talks, lasting less than four hours, as “extremely constructive” without any hostility. Biden echoed similar remarks at a separate press conference, saying they [...]