Deal in principle reached to avoid new US government shutdownWASHINGTON, D.C.: US lawmakers have reached an agreement in principle to avoid a new government shutdown at the end of the week, senators announced Monday, including $1.375 billion for a wall on the southern US border. “We’ve reached an agreement in principle between us on the Homeland Security and the other six bills,” Senator Richard Shelby, a key Republican negotiator, told reporters. Senior congressional aides told AFP the agreement included $1.375 billion in funding for a wall on the US-Mexico border — a key campaign promise of President Donald Trump, who had demanded $5.7 billion for his pet project. The agreed figure would fund approximately 55 miles (89 kilometers), all to be located in the Rio Grande Valley area of south Texas, the aides said. The deal still faces White House approval.The Democrats and Trump have been clashing for weeks over funding a barrier on the border. The gridlock … [Read more...] about Deal in principle reached to avoid new US government shutdown
Us government shutdown
As the longest government shutdown in US history rumbles on – sparked by Donald Trump’s insistence to build a border wall that Democrats in Congress have refused to grant funding for – Wall Street and Silicon Valley have been left in serious IPO limbo. Staff at the Securities and Exchange Commission (SEC) have not worked since 27 December, meaning that long-awaited public listings are facing serious delays. These include some big names, such as Uber, Airbnb, and team collaboration tool Slack. For companies that filed initial paperwork with the SEC at the end of 2018, we can only assume that the regulator’s sign-off won’t be coming until after the shutdown ends. As Trump continues his very public standoff with House of Representatives speaker Nancy Pelosi, that doesn’t look likely anytime soon. But for the UK, which was voted Forbes’ best country for business in 2018, and particularly for the City of London, with its well-deserved status of one … [Read more...] about The US government shutdown drags on, but London never closes for business
As many as 800,000 public sector workers missed their first payday of the year on Friday as the US government’s partial shutdown continued for a third week. Many workers have been working without the guarantee of pay since the shutdown began on December 22, including airport staff, prison guards and other vital public service personnel. The shutdown is set to become the longest in US history as president Donald Trump refuses to accept the current federal budget because it does not accommodate the $5.7bn he requires to build a border wall. The wall was a key promise of his 2016 election campaign that saw him voted in as president. Democrats, who now run the Senate, have refused to give in to Trump’s demand, claiming it would be a waste of money. So far talks have yet to provide any kind of resolution and Trump has threatened he could use his emergency powers to force the issue through. It has left around a quarter of the federal government without pay this month, which … [Read more...] about US government shutdown hits 800,000 federal workers as they miss first payday of the year
By: Simon Wilson 12/01/2019 Donald Trump’s tangle with Congress over his promised border wall has led to US government agencies closing up shop. But does that matter much for America’s economy? Simon Wilson reports.What has happened? Since 22 December, the US federal government has been in partial shutdown after Congress refused to agree to $5.6bn in funding for President Trump’s long-promised wall along the Mexican border – a barrier regarded by Democrats as not merely a crazy waste of money, but also immoral. As MoneyWeek went to press, the Trump-imposed shutdown had lasted 19 days – the second-longest in US history. And if it continues until this weekend (and there’s every sign that it will), it will be the longest shutdown ever, surpassing the 21-day shutdown under Bill Clinton in December 1995 and January 1996. What’s a “partial” shutdown? In this case, only around a quarter of federal agencies are affected, … [Read more...] about What’s behind the US government shutdown?
Good morning, Europe. Here are some of the key stories we're following today: Romania in the spotlight: Brussels chiefs are in Romania on Friday to mark the country taking on the rotating presidency of the EU Council. It comes after tension between Brussels and Bucharest over anti-corruption legislation and judicial reforms. Brexit vote looms: MPs continue a five-day debate that will culminate next Tuesday with a vote on Theresa's May Brexit deal. Shutdown continues: US President Donald Trump has threatened to use emergency powers to bypass Congress and get billions of dollars to pay for a border wall on the US-Mexico border. The issue is fuelling a partial government shutdown that has been going on for three weeks. Follow our live updates, below: … [Read more...] about Live updates: Romania in spotlight; Brexit; and US government shutdown