Gina ewing testified that the Biden Administration has driven a historic recovery over the last three years and address the need for Regulatory Framework stable corns and Digital Assets. Intelligence and the financials actor. This is about two hours. Committee on banking an the committee will come to order. Secretary ellen who has been taxable in the schedule and we had to change the time from yesterday to today and then she has to leave at 11 30. We will risk back that. I will enforce the five minute rule on myself and everyone else. Thank you for understanding, all of you. For a long time, its clear what gets rewarded and wall street. Bigger risks mean bigger profits. Your profits mean more stock options. Bigger profits mean fatter bonuses. Then we end up with a wall street culture that glorifies seen just how much they can get away with. Executives know that when big bets pay off, they get to cash out and when is bets failed, they dont clean up the mess. Workers and taxpayers and ou
American Steel Company and said it is vital that the company remain owned and operated in the us. This is a big deal and notjust politically. Nippon steel is set to pay 14. 9 billion to acquire the us giant. But politically, this is territory President Biden knows well. He has cast himself as the champion of the Working Class and has called himself the most pro Union President in history. He made headlines for walking the picket line with striking Auto Union Workers last fall. Unionised steelworkers could land the president supporting his election bid. The four north americas largest industrial union. For his part, former President Donald Trump pledged to block the deal if he retakes the white house. The president of the United Steel Workers International welcomed the call from biden on thursday, agreeing that Foreign Ownership would leave the us vulnerable when it comes to prioritising its own defence and infrastructure. It is bound to be a topic of conversation between key allies whe
Good morning. This is bloomberg daybreak europe. Im lizzie burden in london. And these are the stories that set your agenda. Surprise cut. Chinas central bank unexpectedly cuts its key lending rate by the most since 2020, as Industrial Production, retail sales and fixed assets data all miss estimates. Asia markets are mixed. Donald trump is indicted in atlanta over alleged efforts to undo his 2020 election defeat in georgia, adding a fourth criminal case against the former president. Plus, what Warren Buffett is buying and selling. Well bring you the latest 13 f filings as hedge funds look to gain from the hype over artificial intelligence. Well, good morning. Welcome to tuesday. And it might be august, but its a busy one. Youve got traders betting that the fed is going to keep rates higher for longer. So treasury yields have been steadying in early trading in asia. But you did see the ten year yield climb to its highest since november yesterday. The two year yield, which of course is
I have known Benjamin Netanyahu for a very long time and while we have disagreed on many occasions, i will always respect his extraordinary bravery for israel on the battlefield of the younger man and i believe in his heart he has his highest priority as the security of israel. However, i also believe Prime Minister netanyahu has lost his way. Senior israeli figures including the ambassador to the us, michael herzog, and mr netanyahus chief political rival, benny gantz criticised mr schumer s intervention, calling it unhelpful, counterproductive and unacceptable. Mr schumer s comments come as the Biden Administration continues to pressure mr netanyahu not to launch a Ground Offensive on gazas southernmost city, rafah, something the white house says is a red line. But talking to troops on thursday, mr netanyahu sounded undaunted. Translation their International Translation their L International pressures preventing us from Entering Rafah in completing the work. As a minister on israel,
Im elizabeth howell, a professor in the department of history. Im here as guest lecture today in labor history. Id like to welcome to my world and to talk a little bit about 1970s in many ways, the 1970s is our probably the most contested historical turf right now. As we talked about before, historians their minds, they find new evidence they find new arguments and new takes on the decades they study and the 1970s is really no different. I think originally the culture we tend to think of them as of the rebellion light decade in which would focus disco and focus the conservative backlash. But in fact theyre one of the most important decades for the american working class and in labor htory. So today, title the times they are changing apologies to bob dylan is really aut how this decade was a of fundamental in the workplace in the workforce and in work organizations. It also was a change in the context in which all of those three things operated. So focusing on worker militancy, the dive