Tuesday, March 19

US

Reuters: US Leads Talks on Rescue of First Republic Bank
Business, News, US

Reuters: US Leads Talks on Rescue of First Republic Bank

The US government is coordinating talks about an emergency intervention to save the First Republic Bank, Reuters news agency reports based on insiders. The Ministry of Finance, the central bank and the regulator FDIC are trying to get companies from the financial sector to rescue the medium-sized bank. Attempts to save the First Republic from bankruptcy with help from the private sector have failed to produce a deal. It is still unclear whether the US government is also prepared to participate in a rescue operation. But the involvement of government agencies, according to a Reuters source, gives First Republic executives more confidence as they look for a solution. The US Treasury Department declined to comment on Reuters' questions about the news. The Federal Reserve and the...
US Inflation Cools Further in February
Business, News, US

US Inflation Cools Further in February

Americans spent 6 percent more on groceries, services or other living expenses in February. Inflation thus decreased slightly compared to the previous month. However, the inflation rate was in line with economists' average expectations. In January, consumer prices still rose by 6.4 percent annually. Excluding the volatile prices for food and fuel, prices rose on average by 5.5 percent, which was also in line with expectations. In January, this so-called core inflation was still 5.6 percent. Daily life in the United States became 0.4 percent more expensive between January and February, according to US Bureau of Labor Statistics (BLS) figures. Prices rose by 0.5 percent between January and December. Although inflation seems cooling down, it is still well above the US central ba...
US Law in the Works That could Ban TikTok
Business, China, News, Technology, US

US Law in the Works That could Ban TikTok

On Tuesday, two US senators will introduce a bill that would give the president the power to label and ban technology from abroad as a threat. Among other things, the law would allow President Joe Biden to ban the popular platform TikTok. TikTok is owned by Chinese technology company ByteDance and has come under fire since the company admitted that certain employees had access to users' data in the United States and Europe. Biden's predecessor Donald Trump tried to ban TikTok in the US in 2020, but his planned measures failed in court. The new bill was drafted jointly by a Republican and a Democratic senator. An anonymous source tells Reuters that the White House has provided input for the motion. Last week, another proposal that could lead to a ban on TikTok was rejected by ...
US State of Idaho is Considering Reintroducing Execution by Firing Squad
News, US

US State of Idaho is Considering Reintroducing Execution by Firing Squad

Idaho is considering executing death row inmates by firing squad. However, new legislation is now being reviewed due to problems with delivering the medication for lethal injection. That writes the Associated Press. In Idaho, such a firing squad was still in law until 2009, but that option was never used in reality. Nevertheless, the reintroduction of the firing squad is now being considered. The bill was introduced last week because of problems supplying the deadly drugs normally used in executions. For that reason, the execution of Gerald Pizzuto, for example, was cancelled late last year, said Republican Bruce Skaug, who supports the bill. "As it stands, they may never get those materials for the lethal injections," Skaug said. "This is a rule of law issue: our penal system m...
More Users of Twitter Alternative Mastodon After Musk Takeover
Business, News, Technology, US

More Users of Twitter Alternative Mastodon After Musk Takeover

Twitterers are switching in large numbers to the alternative social medium Mastodon. Since the takeover of Twitter by Elon Musk last Friday, Mastodon has gained many tens of thousands of new users, according to CEO Eugen Rochko. "This is quite a lot for a day, isn't it?" Rochko said via his own platform. The CEO reported nearly 71,000 new Mastodon users 48 hours after the official moment of the takeover. The platform has been around for years and is trying to provide a "cleaner" version of Twitter. Musk wants Twitter to focus more on freedom of expression, which can increase the number of hateful messages and misinformation on the platform. Twitterers complain that they have lost many followers in a short period. As a result, many Twitter users also write a message announcing...
China Want to Annex Taiwan Much Faster Than We Think, US Foreign Minister Warns
China, News, Taiwan, US

China Want to Annex Taiwan Much Faster Than We Think, US Foreign Minister Warns

Blinken made the statements Monday at a meeting at Stanford University. "China has made the fundamental decision not to accept the status quo any longer," said Blinken. "Beijing is determined to achieve reunification with Taiwan in a much shorter term." The statements of the US Secretary of State warn world leaders not to be surprised by a military escalation this time. Last year, the United States warned of a Russian invasion of Ukraine months before it took place in February. Blinken responds to Chinese leader Xi Jinping's opening speech at the Chinese Communist Party Congress on Sunday. He said that "the wheels of history" are rolling towards reunifying Taiwan and China. However, while Xi's preference is for peaceful reunification, China will "never promise to refrain from us...
Study: US Bitcoin Production as Polluting as 6 Million Cars
Business, News, Technology, US

Study: US Bitcoin Production as Polluting as 6 Million Cars

The energy needed to produce bitcoins in the United States produces as many emissions as about 6 million cars a year. That's what environmental groups say in a report. They, therefore, call on American states to ban new activities for mining digital coins so as not to further damage the climate. The mining of bitcoins by computers uses a lot of energy because of the complex calculations involved. According to environmental groups, bitcoin production in the US caused CO2 emissions of 27.4 million tons in the period between mid-2021 and 2022. That's three times the emissions of the largest coal-fired power plant in the US and nearly equal to the annual emissions of 6 million cars. According to a recent White House study, 38 percent of global bitcoin mining now occurs in the US....
Walking Around New York’s Times Square Armed is No Longer Allowed
News, US

Walking Around New York’s Times Square Armed is No Longer Allowed

Guns are no longer allowed on and around Times Square, the well-known square in New York. There and in many other places in the city of New York, and the entire state of the same name, concealed weapons are also prohibited from then on. This was reported by the local authorities on Wednesday. The legislation was passed this summer in response to the Supreme Court's decision in June, which established Americans' constitutional right to leave their homes armed. “That decision was a shot that resonated worldwide,” said Eric Adams, today's mayor of New York but previously police commissioner. As a result, the fight against gun violence is a priority for him. Governor Kathy Hochul added that the ban would extend to cafes, libraries, schools, public services, and hospitals acros...
Ford Cuts 3,000 Jobs to Cut Costs
Business, News, US

Ford Cuts 3,000 Jobs to Cut Costs

The American Ford Motor will lay off about 3000 employees and temporary workers. The company wants to cut costs and accelerate the switch to electric cars. The automaker sent an email to employees about this on Monday. It states that the employees concerned will be informed of the cutbacks from this week. A company spokesperson said that workforce reduction is primarily affecting workers in the United States. About 2,000 jobs will be lost at Ford in Dearborn, Michigan. A spokesperson for the group does not rule out the possibility of more jobs disappearing. Bloomberg news agency previously reported that Ford is considering cutting up to 8,000 jobs. Ford split its operations into two business units in March, one for electric vehicles and one for combustion engine vehicles. Sig...
North Korea Fires Missiles During South Korea US Exercise
News, North Korea, South Korea, US

North Korea Fires Missiles During South Korea US Exercise

North Korea has fired two cruise missiles that landed in the Yellow Sea, west of the Korean peninsula. According to Yonhap news agency, the South Korean Ministry of Defense reported this on Wednesday. It is North Korea's first projectile test since South Korea and the United States began joint exercises on Tuesday. The exercises, which are through Friday, are just a preparation for larger annual joint maneuvers to be held under the name Ulchi Freedom Shield. They are from August 22 to September 1. North Korea has angrily called them a dress rehearsal for the invasion of the north.