U.S. House approves $1.5 trillion infrastructure bill but outlook uncertain

WASHINGTON – The U.S. House of Representatives approved a massive $1.5 trillion infrastructure package on Wednesday by a 233 to 188 vote to boost spending on roads, bridges, public transit and rail but the White House and Senate Republicans both said they oppose the measure. Representative Peter DeFazio, the Democrat who chairs the Transportation and Infrastructure Committee, said the measure “deals with the incredibly deteriorated infrastructure in this country” and addresses the threat of climate…

"U.S. House approves $1.5 trillion infrastructure bill but outlook uncertain"

Highlights: China unveils details of national security law for Hong Kong

HONG KONG – China on Tuesday unveiled details of a contentious new national security law for Hong Kong, ending weeks of uncertainty that have exacerbated concerns over Beijing’s erosion of freedoms in the global financial hub. Beijing passed the legislation on Tuesday, bypassing the city’s local parliament and setting the stage for the most radical changes to the former British colony’s way of life since it returned to Chinese rule 23 years ago. The law…

"Highlights: China unveils details of national security law for Hong Kong"

White House opposes $1.5 trillion House infrastructure measure

WASHINGTON – The White House said Monday it opposes a $1.5 trillion proposal from congressional Democrats to boost U.S. infrastructure over the next decade, criticizing how it would pay for new spending. The Democratic-controlled House of Representatives is set to begin on Tuesday debating the measure, which includes a massive boost in spending on roads, bridges, public transit, rail, ports and airports as well as water systems, schools and broadband internet. A final vote is…

"White House opposes $1.5 trillion House infrastructure measure"

UK must use coronavirus recovery funds to push urgent climate measures: advisers

LONDON – Britain must use its coronavirus recovery plan to fund climate measures such as accelerating a phase-out of new petrol and diesel cars by 2032 and making homes more energy efficient, a report by the government’s climate advisers said on Thursday. The recommendation came as the committee published its annual report on Britain’s progress in meeting climate goals, showing government policies still fall well short. Britain last year became the first G7 country to…

"UK must use coronavirus recovery funds to push urgent climate measures: advisers"

Breakingviews – VW’s Europcar takeover would be a rough round trip

LONDON ( Breakingviews) – Bidding up shares in teetering car-rental companies is meant to be the preserve of credulous day traders. Volkswagen begs to disagree. The $80 billion German automaker is mulling the purchase of fraught Europcar Mobility. Boss Herbert Diess may have in mind using Europcar’s locales to offer ride-sharing. But plummeting rentals and high debt mean bumpy economic returns lie ahead. If Diess does make an offer, it would mark a roughly 14-year…

"Breakingviews – VW’s Europcar takeover would be a rough round trip"

Breakingviews – SEC chair becomes political toy at his own expense

SAN FRANCISCO ( Breakingviews) – The head of the U.S. Securities and Exchange Commission has accidentally shot himself in the political foot. Jay Clayton’s nomination for a U.S. Attorney role is in trouble amid a fight over the office. Democrats say the ex-corporate lawyer is at risk of becoming President Donald Trump’s pawn in unwanted probes. His ties to Wall Street also hurt. The appointment risks undermining Clayton’s good work. The mild-mannered SEC chairman had…

"Breakingviews – SEC chair becomes political toy at his own expense"

Minibus drivers in South Africa strike over coronavirus funding

JOHANNESBURG – Drivers of minibus taxis in South Africa’s financial hub Gauteng went on strike on Monday to demand more financial support from government, leaving thousands of commuters stranded. Dozens of taxis blocked busy roads in Johannesburg and Pretoria, confronting police and soldiers. Many people were stuck at taxi ranks, while others walked to work or piled onto buses. Since a coronavirus shutdown began in late March, taxis have been permitted to operate at only…

"Minibus drivers in South Africa strike over coronavirus funding"

House panel debating $494 billion infrastructure measure

– A U.S. House of Representatives panel is debating on Wednesday a Democratic plan to boost infrastructure spending that aims to fix crumbling roads and highways and reduce carbon pollution. The $494 billion five-year surface transportation bill wouldprovide $319 billion to fix 47,000 structurally deficientbridges and make other repairs, $105 billion for mass transit, build electric vehicle charging stations and invest nearly $30 billion in passenger railroad Amtrak and rail infrastructure. With a presidential election…

"House panel debating $494 billion infrastructure measure"

U.S. SEC has problems with car rental firm Hertz selling new shares: CNBC

– The U.S. Securities and Exchange Commission (SEC) has told bankrupt Hertz Global Holdings Inc it has issues with the car rental firm’s plan to sell new shares, the agency’s Chairman Jay Clayton told CNBC television on Wednesday. Last week, Hertz won bankruptcy court approval to sell up to $1 billion in stock. It announced on Monday plans to sell up to $500 million in new shares, as it takes advantage of a strong rally…

"U.S. SEC has problems with car rental firm Hertz selling new shares: CNBC"

Main Street’s boldest take on Wall Street in bankruptcy stock frenzy

NEW YORK – When Bryan Quevedo received his U.S. government stimulus check last month, he invested $1,000 in the stock of bankrupt car rental company Hertz Global Holdings Inc . The 22-year-old Los Angeles delivery driver made the trade on Robinhood, an app that allows mom-and-pop investors to buy and sell shares. A marketing graduate who has struggled to find an office job amid the COVID-19 pandemic, Quevedo analyzed Hertz’s share price movements to predict…

"Main Street’s boldest take on Wall Street in bankruptcy stock frenzy"