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Showing posts from October, 2021

Japan PM's touted a 'new capitalism' aimed at narrowing income disparities. It drove Japan's stock market into an 8-day 6.8% slump.

Japan's Prime Minister and ruling Liberal Democratic Party leader Fumio Kishida speaks as he joins a live interview with news channels individually at the party headquarters on October 31, 2021 in Tokyo, Japan. Japan took to the polls today in a general election that is expected to return the ruling Liberal Democratic Party to power. Behrouz Mehri, Pool/Getty Images Japanese PM Fumio Kishida wants his country to start adopting a new form of capitalism. His newly announced plan to tax profits on investments has riled businesses, who say it will scare off investors. When he was elected leader of the ruling party, the Nikkei 225 dropped eight consecutive days. During Fumio Kishida's race for prime minister, he touted Japan's need for a new form of capitalism. He announced plans to tax profits on investments, part of his promised effort to distribute wealth more evenly in the country. When he was elected leader of the powerful Liberal Democratic Ruling party - almost

What will happen if Evergrande collapses, and how China will manage the fallout

Modern Land is yet another developer under pressure. Zhang Peng/Getty Evergrande recently paid off $83 million of interest in dollar bonds ahead of deadline. But payments like this are only a drop in the bucket of the company's enormous, $300 billion debt load. If the company fails, China's order of priority when it comes to managing defaults will be homebuyers first, creditors second, and existing shareholders last. Evergrande, China's second-biggest real-estate developer, is teetering on the brink of collapse, and Beijing appears unlikely to bail it out. The giant recently managed to avoid default when it made an unexpected and last-minute $83.5 million bond-interest payment . But it's facing several more upcoming bond payments on deadlines it's already missed, and the size of its total debt - a whopping $300 billion - still looms large. An Evergrande collapse stands to have global ripple effects. Insider's Linette Lopez recently wrote that if Ch

Cruella, Ted Lasso, and Darth Vader: Here's what your Capitol Hill representatives wore for Halloween

Sen. Chuck Hagel (R-NE) (R) dons a paper mask and a 'Joseph Biden for President' t-shirt as a Halloween costume to the joy of Democratic presidental hopeful Sen. Joseph Biden (D-CT) (L) before the start of a Senate Foreign Relations Committee hearing on Capitol Hill October 31, 2007 in Washington, DC. Photo by Chip Somodevilla/Getty Images US Rep. Grace Meng, D-N.Y., dressed up as boba with a straw and tapioca pearls. In hopes of offsetting her sugar intake, Rep. Sharice Davids, D-Kan. dressed up as a carrot. US Rep. Nikema Williams, D-Ga., personified the reptilian Pokémon Charmander. Over the weekend, members of Congress took time away from Capitol Hill to celebrate Halloween with their loved ones. However, not all federal officials chose to sport a costume. Check out which representatives and senators decided to dress up for the holiday. Rep. Grace Meng, D-N.Y. —Grace Meng (@Grace4NY) October 31, 2021 Meng dressed as bubble tea. Sens. Mitt Romney, R-Utah, and Ky

Marjorie Taylor Greene supports letter from a 'non-violent' Capitol rioter who was filmed attacking an officer and saying he punched his head five times

Rep. Marjorie Taylor Greene (R-GA) speaks at a news conference about the National Defense Authorization Bill at the US Capitol on September 22, 2021 in Washington, DC Kevin Dietsch/Getty Images Georgia Rep. Marjorie Taylor Greene retweeted the letter of a Capitol rioter who said he was "non-violent." But video footage and court documents show that he assaulted at least one Capitol officer on Jan. 6. The man also wrote that the body armor he wore on that day was a costume. Georgia Rep. Marjorie Taylor Greene retweeted a letter on Saturday from a Capitol rioter, who wrote that he was a "non-violent" participant on Jan. 6 despite footage showing him assaulting an officer that day. The letter's author, Nathaniel DeGrave, wrote that he "never assaulted anyone" and that his goal at the Capitol was to film a documentary with his camera crew, per a Twitter thread posted by criminal defense lawyer Brad Geyer. Greene's retweet of DeGrave's le

The UN says $6B from the world's billionaires could solve the current hunger crisis. Elon Musk says he will sell Tesla stock and donate proceeds if the UN can prove that.

Elon Musk's Tesla bought $1.5 billion of bitcoin in January. Picture Alliance/Getty Images David Beasley, director of the UN's World Food Programme, said billionaires need to step up and help. Beasley said $6 billion would help 42 million who are "literally going to die if we don't reach them." World's richest man Elon Musk says he would sell Tesla stock if the UN can prove how the money will solve the crisis. Billionaire Elon Musk said he would sell Tesla stock and donate the proceeds if the United Nations could prove that just a tiny percentage of his wealth could solve the world's hunger crisis. Musk was responding to comments by David Beasley, director of the UN's World Food Programme, who told CNN's Connect the World last week that a $6 billion donation from billionaires like Musk and Bezos could help 42 million people who are "literally going to die if we don't reach them." Musk is currently the world's richest