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Showing posts with the label government

Toxic school: How the government failed Black residents in Louisiana's 'Cancer Alley'

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RESERVE, La. — The fond memories often give way to an intense sadness whenever Patrick Sanders thinks about the friends and neighbors he grew up with here on East 31st Street. So many of them have died of cancer that he said he has lost count. The disease also took the lives of his father and his sister, at the age of 44. Sanders himself is facing a recurrence of prostate cancer.  His old block in this majority-Black community backs up to a synthetic rubber plant that has for decades spewed a chemical into the air that federal regulators say is likely to cause cancer. The Environmental Protection Agency first warned of the dangers of the plant seven years ago. Yet, it has been allowed to continue to operate even though it sits about 450 feet from the Fifth Ward Elementary School. For more on this story, tune in to NBC Nightly News with Lester Holt tonight at 6:30 p.m. ET/5:30 p.m. CT or check your local listings. The Denka plant in LaPlace, La. NBC News Earlier this month, the Justice ...

China Renaissance says its missing founder Bao Fan is cooperating with a government probe

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China Renaissance said this month it was unable to contact its founder and CEO Bao Fan. This picture is from 2016. Bloomberg | Bloomberg | Getty Images BEIJING — Missing Chinese investment banker Bao Fan is cooperating with a government investigation, his firm China Renaissance said in a filing Sunday. The company's Hong Kong-listed shares have plunged 29% since the firm said on Feb. 16 it was unable to reach Bao. He is China Renaissance's controlling shareholder, chief executive officer and founder , among other roles. "The Board has become aware that Mr. Bao is currently cooperating in an investigation being carried out by certain authorities in the People's Republic of China," China Renaissance said in a filing with the Hong Kong stock exchange Sunday. In both filings this month, China Renaissance said its business continued to operate normally. Its shares hit a record low of 5 Hong Kong dollars (64 cents) on Feb. 17 but have since recovered slightly. Stoc...

Investments are set to flow back into China as tech giants avoid U.S. delisting, government pledges policy support, says investment manager

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Chinese e-commerce giant Alibaba was one of the 100 over companies that had faced the risk of delisting in the U.S. in 2024 if their audit information was not made available to PCAOB inspectors. Budrul Chukrut | Sopa Images | Lightrocket | Getty Images Investors could regain the confidence to put their money in Chinese tech stocks as these companies avoid delisting from U.S. stock exchanges and the Chinese government pledges policy support , according to one invest ment manager . Last week, U.S. accounting watchdog the Public Company Accounting Oversight Board said it gained full access to inspect and invest igate Chinese companies for the first time, after China finally granted the U.S. access in August. related investing news Is China set for a rebound in 2023? Wall Street pros weigh in — and reveal how to trade it Zavier Ong a day ago More than 100 Chinese tech companies such as Alibaba , Baidu and JD.com  had faced the risk of delisting in the U.S. in 2024 if their audit info...

Brits face sharpest fall in living standards on record as government tightens its belt

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LONDON - Prime Minister Rishi Sunak congratulates Chancellor of the Exchequer Jeremy Hunt after he delivered his autumn statement to MPs in the House of Commons, announcing a host of tax rises and spending cuts in an effort to balance the country's finances. House of Commons/PA Images via Getty Images LONDON — As the U.K. government announces a £55 billion ($65.5 billion) program of tax hikes and spending cuts, the country faces its sharpest fall in living standards since records began. Alongside its confirmation that the country has entered a recession and GDP will contract by 1.4% in 2023, the independent Office for Budget Responsibility (OBR) on Thursday estimated that real household disposable income — a measure of living standards — is projected to fall by 4.3% in 2022-23. This would be the largest single-year decline since the Office for National Statistics (ONS) began recording in 1956-57, and will be followed by the second-largest fall of 2.8% the following year.  The c...