US public pension funds are splintering in their approach to China, reflecting rising investment risks and the increasingly fragile politics of the two largest global economies. Pension plan officials outline a number of positions. California’s teacher pension fund launched a search for its first dedicated Chinese equity managers in late August, while Texas’ teacher pension … Read more
BOGOTÁ, Colombia—Colombia has posted a sharp increase in coca cultivation, the United Nations said Thursday, raising concerns among U.S. anti-narcotics officials about how the country’s new government will bring drug trafficking under control. The UN Office on Drugs and Crime said the amount of land used to grow coca – the main ingredient in cocaine … Read more
A low-budget film depicting the struggles of a poor couple in rural China surprised many with a run at the Chinese box office that dwarfed some blockbusters. Now many are wondering why they can’t see it. “Return to Dust” depicts two outcasts, a woman with a physical disability and a farmer too poor to marry, … Read more
Such spending would once have been considered unconstitutional. The Constitution authorizes federal spending for the “common defense” and “general welfare”—first in the preamble and later in the clause establishing Congress’s power to tax. Before the New Deal, “general welfare” was limited to internal improvements, often associated with defense or territorial expansion. A later example is … Read more
Nineteen state attorneys general last month wrote a letter to BlackRock CEO Laurence D. Fink. They warned that BlackRock’s environmental, social and governance investment policies appear to involve “widespread violations” of the self-interest rule, a well-established legal principle. The exclusivity rule requires investment managers to act to maximize financial returns, not to advance social or … Read more
The Pentagon building in Washington, December 26, 2011. Photo: staff/Agence France-Presse/Getty Images After dismissing congressional concerns for months, Pentagon leaders recently issued guidance to troops on how to deal with inflation eating away at their paychecks. Army leaders suggested soldiers and their families consider getting food stamps or talking to an Army financial counselor. What … Read more
Walmart employees at a store in Washington, Aug. 15. Photo: Michael Reynolds/Shutterstock With another round of economically disastrous policies, the Biden administration is out with its latest defense. The White House is accusing critics of their student loan forgiveness of hypocrisy because some of them accepted Paycheck Protection Program loans that were then forgiven. The … Read more
WASHINGTON – The Federal Trade Commission has filed a lawsuit against data broker Kochava Inc. and says the Idaho company sold geolocation data from millions of mobile devices that could be used to track people to abortion clinics, addiction recovery facilities and other sensitive locations. The lawsuit filed Monday seeks to halt the company’s sale … Read more
WASHINGTON – Democrats made programs like universal pre-school and paid family a central part of their agenda, and yet none of those policies were included in the legislative package signed into law Tuesday by President Biden. The $700 billion bill, known as the Inflation Reduction Act, does not include child care subsidies, preschool, paid leave … Read more
U.S. gas prices have fallen for seven straight weeks and are nearing an average price of $4 per barrel. gallon, easing the pain of record fuel costs amid declining global oil demand. The average price of a gallon of regular unleaded gasoline fell to $4.19 on Tuesday, the 49th straight day that prices have fallen, … Read more