Financial reporting organizations in China are tracking a mounting debt crisis that stems from excessive borrowing by local governments, often used to pay existing debts. This matter has not been monitored by China’s central government because local governments are not required to report monies raised through local government financing vehicles (LGFV). China’s Ministry of Finance…
China is Mired in a Debt Crisis Fueled by Borrowing at Local Government Levels
Boosting Domestic Oil Production to Counter Russia a ‘Misdiagnosis’: Psaki
February 28, 2022
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Business & Economyeconomic policieseconomyExecutive BranchJen PsakiKeystone PipelineMarketsPolicies & ImpactsPoliticsRussia Ukraine invasionRussian oilSen. Tom CottonUSUS News
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White House press secretary Jen Psaki dismissed Senator Tom Cotton’s (R-Ark.) calls for boosting domestic oil production as a response to Russia’s invasion of Ukraine, calling it a “misdiagnosis” in an interview with ABC News. A video clip featuring Cotton was played during the program, in which the lawmaker argued for cracking down on the…
New York Mayor to Scrap Private Business Vaccine Mandate, School Mask Rules
New York’s private business COVID-19 vaccine and school masking mandates will be lifted soon, the city’s mayor has said. However, Mayor Eric Adams, a Democrat, still isn’t rescinding the mandate that forces workers to get vaccinated, as New York continues to be the most reluctant locale in the nation in rolling back rules imposed during…
New York City Mayor to Scrap Private Business Vaccine Mandate, School Mask Rules
New York City’s private business COVID-19 vaccine mandate and school masking requirement will be lifted soon, the city’s mayor said Feb. 27. But Mayor Eric Adams, a Democrat, is still not rescinding the mandate that forces workers to get vaccinated, as New York continues to be the most reluctant locale in the nation in rolling…
UK Ports Should Refuse Access to Russian Boats, Says Transport Secretary
UK ports should refuse access to Russian boats, Transport Secretary Grant Shapps has said. With a Russian-owned ship due to dock in Orkney on Tuesday, the UK Government had been urged to ban the country’s vessels in response to Vladimir Putin’s invasion of Ukraine. Shapps has now written to all UK ports telling them not…
UK Home Secretary Rejects Call for Visa Waiver for Fleeing Ukrainians
Home Secretary Priti Patel ruled out a visa waiver for Ukrainians fleeing the conflict with Russia because of fears that Moscow’s troops and extremists could seek to come to the UK. Patel, who has come under intense political pressure from MPs across the Commons to do more to allow Ukrainian refugees to reach the UK,…
Freedom Convoy Protester Arrested a Week After End of Demonstrations
A week after the protest in downtown Ottawa was cleared by law enforcement, the Ottawa Police Service (OPS) announced on Feb. 27 the arrest of a participant located one hour east of the Canadian capital. The OPS said Steeve Charland, 48, of Grenville, Quebec, was arrested by the Ontario Provincial Police (OPP) in the Vankleek…
Half of Biden’s 500 Million Free COVID-19 Tests Unclaimed: Officials
About half of the 500 million free COVID-19 tests that President Joe Biden recently made available have not been claimed, according to the White House. Biden administration officials told The Associated Press that Americans have placed 68 million orders for packages of tests, which contain four COVID-19 tests each. That leaves about 68 percent of the…
UPS, FedEx Halting Shipments to Russia and Ukraine Until Further Notice Amid Moscow-Led Invasion
Two of the world’s largest logistics companies, UPS and FedEx, have announced that they are pausing delivery service to Russia and Ukraine amid the Moscow-led invasion. Both of the U.S.-based shipping companies had earlier said that they were cutting off shipments to and from Ukraine until further notice. In a service update on UPS’s website,…
Russia, Ukraine Hold Ceasefire Talks Amid War; Putin Orders Russian Nuclear Forces on High Alert
Ceasefire talks begin between Russia and Ukraine, as Russia takes two small cities in the southeast, but runs into stiff resistance in other places. Just before ceasefire talks were to begin, Russian President Vladimir Putin placed Russia’s nuclear deterrent forces on high alert. Is this just a pressure tactic or a cause for real concern?…
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