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US senators discuss infrastructure plan that avoids tax hikes

WASHINGTON (REUTERS) – A bipartisan group of 10 senators is trying to craft a plan to revitalise US roads and bridges without tax hikes, lawmakers said on Wednesday (June 9), though some of US President Joe Biden’s fellow Democrats fretted that such an approach on infrastructure legislation would fail. Revamping America’s infrastructure is a high priority for Biden, but his sweeping US$1.7 trillion proposal has run into trouble in a Congress that his party only narrowly controls, making Republican support pivotal. Republican Senator Mitt Romney told reporters that members of the group have reached “tentative conclusions” on their plan but did not provide details. The proposal is expected to total nearly US$900 billion. “We’re not raising taxes,” Romney told reporters. “We’re going to be talking to other members to see if we can get enough support for this to have the necessary votes to be successful.” A Democratic member of the group, Senator Jon Tester, said he would be willing to look at funding an infrastructure plan without raising taxes though he was not committed to that approach. “I would consider it, sure,” Tester said. “I think there’s plenty of pots of money out there – hopefully

Yiren Digital Reports First Quarter 2021 Financial Results

BEIJING, June 9, 2021 /PRNewswire/ — Yiren Digital Ltd. (NYSE: YRD) (“Yiren Digital” or the “Company”), a leading digital personal financial management platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2021. First Quarter 2021 Operational HighlightsWealth Management Cumulative number of investors served reached 2,462,195 as of March 31, 2021, representing an increase of 2.8% from 2,395,034 as of December 31, 2020 and compared to 2,218,181 as of March 31, 2020. Number of active investors[1] was 307,107 as of March 31, 2021, representing an increase of 32.1% from 232,458 as of December 31, 2020, and compared to 92,060 as of March 31, 2020. Total client assets[2]was RMB10,678.9 million (US$1,629.9 million) as of March 31, 2021, representing an increase of 24.9% from RMB8,550.7 million as of December 31, 2020, and compared to RMB1,731.0 million as of March 31, 2020. Sales volume of investment products amounted to RMB5,823.1 million (US$888.8 million) in the first quarter of 2021, representing a decrease of 14.8% from RMB6,836.9 million in the fourth quarter of 2020 and compared to RMB2,163.3 million in the same period of 2020. Consumer CreditTotal loans facilitated under loan facilitation model in the first quarter of

Marqeta closes up 13%, topping $16 billion market cap in Wall Street debut

Shares of payment processing company Marqeta closed up 13% after its market debut Wednesday on the Nasdaq. Shares closed at $30.52, giving the company a market cap of just over $16 billion.Marqeta priced just over 45 million shares at $27 apiece on Tuesday, above its initial $20 to $24 target range. The company raised $1.2 billion at an implied $15.2 billion valuation, up from its last private market valuation last year of about $4.3 billion.Marqeta has become one of the hottest businesses in digital commerce. It’s a two-time CNBC Disruptor 50 company and ranked No. 7 on this year’s list.Founded in 2010 and based in Oakland, California, Marqeta sells payment technology that’s designed to detect potential fraud and ensure that money is properly routed. The company issues customized physical cards that look like credit and debit cards, which contractors from DoorDash or Instacart use to make point-of-sale purchases from restaurants or supermarkets.In its IPO prospectus, Marqeta disclosed annualized revenue growth in the first quarter of 123% to $108 million, while its net loss narrowed to $12.8 million from $14.5 million a year earlier. In 2020, annual revenue more than doubled to $290.3 million.The company says the total addressable global market for

IBM tells U.S. employees they will return to the office in September

In this articleIBMA sign marks the entrance to IBM Corporate Headquarters in Armonk, New York.Stan Honda | AFP | Getty ImagesIBM’s U.S. employees will go back to the office the week of Sept. 7, according to a memo sent to staff this week from Chief Human Resources Officer Nickle LaMoreaux.In the memo, which was viewed by CNBC, LaMoreaux said IBM is working on protocols for fully vaccinated employees to work in the office without masks. In addition, LaMoreaux said IBM is working on health and safety protocols for business travel and meetings with clients from outside the company.The memo didn’t specify whether or not employees will have the option to continue remote work either full or part time, but did say IBM has “long-established practices and policies supporting work life balance which will continue as we return to the office.”The return to work plan only applies to IBM’s employees in the U.S., where Covid-19 cases have dramatically fallen in recent months amid a massive vaccination drive across the country. IBM operates in 175 countries.Also on Wednesday, Facebook clarified its post-pandemic work plans. CEO Mark Zuckerberg said most employees would be allowed to work remotely if their jobs didn’t require them

Shots fired at US military base in Texas, no one hurt

SAN ANTONIO, TEXAS (REUTERS) – Military investigators said on Wednesday (June 9) they believed two gunshots were fired at a base in San Antonio, Texas, but no injuries were reported. “We do have some solid reports that two gunshots were fired into the installation,” Lieutenant-Colonel Brian Loveless told reporters at Joint Base San Antonio. The base issued an “active shooter warning” and ordered all personnel to implement lockdown procedures following the initial reports, according to a message on the facility’s official Twitter account. San Antonio Police had no comment and referred queries to Joint Base spokesmen, who could not be reached immediately. In 2016, two airmen were killed at the base in what military officials said was a “workplace violence incident.” The joint base, formed through a consolidation of two Air Force bases and the Army’s Fort Sam Houston in 2010, provides basic and advanced training to military personnel.

Meet David Drebin, the New York and Miami-based artist who sells his $100,000 work to the rich and famous

David Drebin Candy Cheng

U.S. and Europe Look for Tariff Cease-Fire as Biden Heads Overseas

The Biden administration is trying to ease trade tension with allies, in part to help counter China.WASHINGTON — The United States and the European Union are working toward an agreement that would settle long-running disputes over aircraft subsidies and metals tariffs that set off a trade war during the Trump administration as President Biden looks to re-engage with traditional American allies.The two sides are hoping to reach an agreement by mid-July with a goal of lifting tariffs that both governments have placed on each other’s goods by Dec. 1, according to a joint statement that is being drafted before the U.S.-E.U. summit that Mr. Biden will attend in Brussels next week.Resolving trade tensions with Europe and other allies is a key goal of the Biden administration, which is trying to repair relationships that fractured under President Donald J. Trump, whose provocative approach to trade policy included punishing tariffs. Mr. Biden and other administration officials have said they want to rebuild those relationships, in part so that the United States can work with allies to counter China and Russia.The joint statement suggested an eagerness on both sides of the Atlantic to end a trade fight that has resulted in tariffs on

What's in a slap? France ponders meaning of assault on Macron

PARIS (AFP) – French President Emmanuel Macron has vowed to continue greeting crowds during his travels despite being slapped in the face, sparking debate on Wednesday (June 9) about whether such walkabouts are wise in a fraught political climate and what the assault symbolised for the country. Macron shrugged off being struck across the face on Tuesday in the village of Tain l’Hermitage, calling it an “isolated event”, and he defiantly fist-bumped onlookers later the same day in the nearby town of Valence. On Wednesday, he returned to work in the safety of the Elysee Palace in central Paris as politicians and experts sought to interpret an incident that has been condemned across the political spectrum. Economy Minister Bruno Le Maire saw the slap as a symptom of “the long deterioration of public debate” while other commentators flagged the danger of new violent protests emerging. Macron remains a highly divisive figure whose presidency was rocked by anti-government “yellow vest” protests in 2018-2019, driven in part by the former investment banker’s abrasive personality. Veteran political commentator Pascal Perrineau saw “a sign of the return of extremely hot anger” which had been “frozen” by the Covid-19 pandemic of the

GameStop has had a wild ride in 2021, but the stock is still up 1,600% heading into its latest quarterly financial report

AaronP/Bauer-Griffin/Getty

French President Macron Confronts Antisemitism in Address to AJC Global Forum

PARIS, June 9, 2021 /PRNewswire/ — French President Emmanuel Macron, in an historic address to the American Jewish Committee (AJC) Virtual Global Forum, reaffirmed his commitments to combat antisemitism, strengthen France’s relations with Israel and the United States, and ensure that Iran’s ballistic missile and regional activities are addressed in any agreement. It was Macron’s first address to an American Jewish organization since his election as president four years ago.”Antisemitism is, as it always has been, an unacceptable, unjustifiable menace, in the face of which we must relentlessly mobilize all our energies,” said Macron. “I want to remind you of my unwavering commitment, and that of the French government, to protect all of the population and fight against all forms of violence and discrimination.”Combating antisemitism “begins with the ability to name this evil that eats away at our society,” said Macron, noting that France adopted the International Holocaust Remembrance Alliance (IHRA) working definition of antisemitism in December 2019.But he emphasized that a definition “is not enough,” and outlined several actions his administration has taken to implement a national plan to combat antisemitism.”Education is at the heart of the fight against antisemitism,” Macron said. “Holocaust education, as well as education about the