government
Washington (AFP) - The US House of Representatives voted Friday to reauthorize an electronic urveillance program targeting foreigners, a practice officials say is critical to national security but criticized by opponents over concerns for American citizens' privacy. The Republican-controlled House voted to reauthorize a section of the Foreign Intelligence Surveillance Act, widely known as FISA, by a bipartisan vote of 273-147. A part of the program known as Section 702 allows US intelligence agencies to conduct warrantless electronic surveillance of foreigners outside the United States. While...
AFP
New York (AFP) - Boeing's CEO received $33 million in compensation for 2023 but declined a potential $2.8 million bonus following the near-catastrophic Alaska Airlines incident in January, the company said Friday in a securities filing. David Calhoun, who is set to exit as chief executive at the end of 2024, received a base salary of $1.4 million, plus more than $30 million coming in stock awards. The announcement, which came in Boeing's annual proxy statement, comes as the company faces intense scrutiny over the January 5 incident, in which a 737 MAX 9 was forced to make an emergency landing ...
AFP
New York (AFP) - Disney's leadership prevailed Wednesday in a high-profile and costly proxy contest against activist investors who had sought to shake up the company's board over concerns about successorship planning. The entertainment giant said its full slate of 12 company nominees had been reelected by a "substantial margin," turning back efforts by Trian Fund Management and Blackwells Capital. "I want to thank our shareholders for their trust and confidence in our Board and management," longtime Chief Executive Bob Iger said in a press release. "With the distracting proxy contest now behin...
AFP
New York (AFP) - Disney shareholders will deliver a verdict later Wednesday in the company's long-running struggle over leadership at one of the spring's most costly and closely-watched annual meetings. At issue is an effort by billionaire investor Nelson Peltz of Trian Capital, who has blasted the Disney board over botched leadership planning after the entertainment giant reinstated long-running chief Bob Iger as CEO and ousted Iger's successor. Peltz has nominated himself and former Disney chief financial officer Jay Rasulo to the board -- an outcome that the company has fought vigorously. I...
AFP
Washington (AFP) - The US government could go into partial shutdown this weekend, raising the specter of mass employee furloughs and the suspension of many federal services if the situation goes unresolved. A best-case scenario would see lawmakers secure a last-minute deal before the shutdown deadline of midnight Friday –- or organize a vote early next week to keep any closure short and with minimal impact. Here is what could happen if Congress fails to do so: Who would be impacted?Congress has already passed six of twelve funding bills, with the outstanding six covering agencies including the...
AFP
Chandler (United States) (AFP) - US President Joe Biden unveiled almost $20 billion in grants and loans Wednesday for Intel's domestic chip-making plants -- his administration's biggest investment yet in the sector as he takes on China's chip dominance and sells his economic achievements over election rival Donald Trump. Biden's decision to make the announcement during a trip to Arizona underscores his strategy of highlighting legislative achievements in key battleground states ahead of November's presidential rematch against Republican Trump. "Unlike my predecessor, I was determined to turn t...
AFP
Washington (AFP) - The US has seen GDP growth blow past predictions, hiring numbers surge unexpectedly and consumers still spending even as interest rates climbed -- deftly averting a dreaded recession in 2023. While interest rates have hit the highest level in more than two decades, a situation ordinarily accompanied by higher unemployment and a consumption pullback, it has not been the case this time. What accounts for the surprise? 'Value of talent'Low unemployment, wage growth and hiring have underpinned consumers' willingness to spend. The situation stems from turmoil businesses experienc...
AFP
Washington (AFP) - Like many Americans struggling to lose weight, Marissa Montanino felt compelled to try Ozempic or one of the other new so-called "wonder drugs" described as revolutionary in the fight against obesity. "I would work out sometimes three times a day, I was doing hours worth of classes. I was eating really, really clean… and nothing was changing" the 36-year-old esthetician told AFP in a recent interview. "I heard about Ozempic for a while and then you start to see other people doing it like celebrities and then dropping weight super fast," she said. Fearing gastrointestinal iss...
AFP
Washington (AFP) - The use of stop-gap funding measures to keep the US government open amid frequent political squabbles over how to tackle rising national debt carries long-term risks for the world's largest economy. While the ongoing stasis in Congress has yet to do any serious damage to the buoyant US economy, the regular budget stand-offs -- and the failure to tackle the country's growing debt burden -- are already having an impact. Two out of the three major American ratings agencies have now cut their credit rating for US government debt, while Moody's, the sole holdout, recently downgra...
AFP
Washington (AFP) - He calls himself "Joe from Scranton," the offspring of a family from a blue-collar city who wants to preserve the dignity of all working people. But President Joe Biden will have his work cut out for him if he is to win over some of the working-class voters who cast ballots for Donald Trump in the last election. White working-class voters -- those without higher education -- accounted for at least 42 percent of the total electorate in 2020, according to Pew Research. This group "is the pivotal vote" in the November 2024 presidential election, says Jefferson Cowie, a Vanderbi...
AFP
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