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2023-05-25

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Grab Co-Founder Tan Hooi Ling to Exit Her Operational Roles

2023-01-24

Y. H58mmiioiinjm... 6$Summit Hotel Properties(INN)$ ,. Gkki

Shutdown? Default? Washington's Risky New Debt Ceiling Standoff

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGrab Co-Founder Tan Hooi Ling to Exit Her Operational Roles\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-25 13:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.straitstimes.com/business/grab-co-founder-tan-hooi-ling-to-exit-her-operational-roles><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SINGAPORE – Grab Holdings co-founder Tan Hooi Ling is stepping down from her operational roles by the end of the year, more than a decade after she helped start the Singapore-based ride-hailing and ...</p>\n\n<a href=\"https://www.straitstimes.com/business/grab-co-founder-tan-hooi-ling-to-exit-her-operational-roles\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GRAB":"Grab Holdings"},"source_url":"https://www.straitstimes.com/business/grab-co-founder-tan-hooi-ling-to-exit-her-operational-roles","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2338158243","content_text":"SINGAPORE – Grab Holdings co-founder Tan Hooi Ling is stepping down from her operational roles by the end of the year, more than a decade after she helped start the Singapore-based ride-hailing and food delivery company.Ms Tan, 39, will also give up her seat on the board, although she will remain an adviser to the company, according to an internal memo sent to employees on Thursday and seen by Bloomberg News.She currently leads Grab’s technology and corporate strategy teams, and previously served as operating chief until 2022.Her exit leaves chief executive officer Anthony Tan steering the company without his co-founder as it fights to reverse years of losses. Last week, its shares fell the most in more than a year after the company reported slowing spending by customers grappling with a higher rate of inflation and rising interest rates.The two Tans, who are not related, founded Grab in 2012. Ms Tan then left briefly to work at other companies in the United States before rejoining Grab in April 2015. She led various operations and technology teams, and has also served as a member of Grab’s board since its stock market debut in the US in December 2021.In the memo to staff, Mr Tan said he wholeheartedly supports his co-founder’s decision to “pursue her personal passions at this time”.A succession plan has been in place for some time, he added.Grab is battling intensifying competition in South-east Asia’s ride-hailing and delivery markets, with the contenders luring customers with promotions and lower prices. Grab has been slower to reduce expenses than regional competitors – as Singapore’s Sea and Indonesia’s GoTo Group eliminated thousands of jobs in 2022, Grab refrained from mass layoffs.The company has predicted it can reach break-even on an adjusted basis in the last quarter of this year. While it reported a narrower quarterly loss last week, its customers are spending less on the platform than analysts expected. In the first quarter, its net loss narrowed to US$244 million (S$330 million) from US$423 million a year earlier. BLOOMBERG","news_type":1},"isVote":1,"tweetType":1,"viewCount":359,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9952142376,"gmtCreate":1674564594596,"gmtModify":1676538946722,"author":{"id":"3586234262681739","authorId":"3586234262681739","name":"Pluteon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586234262681739","authorIdStr":"3586234262681739"},"themes":[],"htmlText":"Y. H58mmiioiinjm... 6<a href=\"https://ttm.financial/S/INN\">$Summit Hotel Properties(INN)$ &nbsp;</a>,.&nbsp; Gkki","listText":"Y. H58mmiioiinjm... 6<a href=\"https://ttm.financial/S/INN\">$Summit Hotel Properties(INN)$ &nbsp;</a>,.&nbsp; Gkki","text":"Y. H58mmiioiinjm... 6$Summit Hotel Properties(INN)$ ,. Gkki","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9952142376","repostId":"2305190945","repostType":2,"repost":{"id":"2305190945","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1674562048,"share":"https://ttm.financial/m/news/2305190945?lang=&edition=fundamental","pubTime":"2023-01-24 20:07","market":"us","language":"en","title":"Shutdown? Default? Washington's Risky New Debt Ceiling Standoff","url":"https://stock-news.laohu8.com/highlight/detail?id=2305190945","media":"Reuters","summary":"Partisan brinksmanship in the U.S. Congress has made government shutdowns seem a routine part of gov","content":"<html><head></head><body><p>Partisan brinksmanship in the U.S. Congress has made government shutdowns seem a routine part of governing in the past decade, but the current standoff in Washington over raising the $31.4 trillion federal debt ceiling is significantly riskier.</p><p><b>What Is a Government Shutdown?</b></p><p>Congress is supposed to pass detailed spending legislation for each fiscal year, which begins on Oct. 1, or temporary extensions to keep the government operating.</p><p>If these bills don&#39;t get passed, agencies like the Defense Department and the Internal Revenue Service don&#39;t get the money they need to operate and must shut down or scale back their work.</p><p>That has happened three times in the past 10 years. A battle over healthcare spending led to a 16-day shutdown in October 2013, while disputes over immigration led to a three-day shutdown in January 2018 and a 35-day shutdown between December 2018 and January 2019.</p><p>According to the Congressional Budget Office, the 2018-2019 shutdown reduced economic activity by about $11 billion while it was underway, but much of that lost growth was recovered when government activity resumed. Overall, the shutdown cost the economy about $3 billion, equal to 0.02% of GDP, CBO found.</p><p><b>What Is the Debt Ceiling?</b></p><p>Congress has another important fiscal function: ensuring that the government can pay its bills, including for spending that lawmakers have already agreed to.</p><p>Unlike most other countries, the United States sets a hard limit on the amount of money it can borrow. As a result, Congress must periodically raise that cap because the government typically spends more money than it collects each year, adding to the national debt.</p><p>This is never a pleasant task for lawmakers who do not want to sign off on even more borrowing but also do not want to trigger a default. Sometimes Congress raises the debt ceiling quietly, as it did in August 2019, during Republican President Donald Trump&#39;s administration, and sometimes it uses the occasion to engage in a noisy debate over fiscal policy before raising the cap at the last possible moment, as it did in 2011.</p><p>This year could see a repeat of 2011, as Republicans who control the House of Representatives say they will not raise the debt ceiling unless Democratic President Joe Biden agrees to limit spending. The White House has said the borrowing limit must be raised without conditions.</p><p><b>What Happens If the Debt Ceiling Is Not Raised?</b></p><p>Treasury Secretary Janet Yellen said on Jan. 19 that the United States has reached its current $31.4 trillion borrowing cap, but can continue paying its bills until June by shuffling money between various accounts.</p><p>At that point, when the so-called extraordinary measures are exhausted, Treasury would not have enough money coming in from tax receipts to cover bond payments, workers&#39; salaries, Social Security checks and other bills.</p><p><b>How Would That Affect the Economy?</b></p><p>Unlike a government shutdown, experts say it could be catastrophic if the U.S. government was unable to pay its bills.</p><p>Some Republicans have suggested that Treasury could choose to cover some obligations, like Pentagon salaries and debt payments, and postpone others. Yellen has said that&#39;s not possible.</p><p>A missed debt payment would likely send shockwaves through global financial markets, as investors would lose confidence in Treasury&#39;s ability to pay its bonds, which are seen as among the safest investments and serve as building blocks for the world&#39;s financial system.</p><p>Treasury was unable to make timely payments to some small investors in 1979 due to computer problems, but analysts say that did not have a broader effect on financial markets.</p><p>A 2011 budget battle that took Washington to the brink of default prompted a stock sell-off and a first-ever downgrade of the United States&#39; top-tier credit rating. Other economic indicators, like consumer confidence and small business optimism, fell during that period as well.</p><p>The U.S. economy could face a severe contraction if the 69 million people enrolled in Social Security don&#39;t get their monthly retirement and disability benefits, or hospitals and doctors don&#39;t get paid for treating patients through government programs like Medicare.</p><p>Signs of worry are already showing up in financial markets, as investors are demanding higher yields on some Treasury bills.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Shutdown? Default? Washington's Risky New Debt Ceiling Standoff</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShutdown? Default? Washington's Risky New Debt Ceiling Standoff\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2023-01-24 20:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Partisan brinksmanship in the U.S. Congress has made government shutdowns seem a routine part of governing in the past decade, but the current standoff in Washington over raising the $31.4 trillion federal debt ceiling is significantly riskier.</p><p><b>What Is a Government Shutdown?</b></p><p>Congress is supposed to pass detailed spending legislation for each fiscal year, which begins on Oct. 1, or temporary extensions to keep the government operating.</p><p>If these bills don&#39;t get passed, agencies like the Defense Department and the Internal Revenue Service don&#39;t get the money they need to operate and must shut down or scale back their work.</p><p>That has happened three times in the past 10 years. A battle over healthcare spending led to a 16-day shutdown in October 2013, while disputes over immigration led to a three-day shutdown in January 2018 and a 35-day shutdown between December 2018 and January 2019.</p><p>According to the Congressional Budget Office, the 2018-2019 shutdown reduced economic activity by about $11 billion while it was underway, but much of that lost growth was recovered when government activity resumed. Overall, the shutdown cost the economy about $3 billion, equal to 0.02% of GDP, CBO found.</p><p><b>What Is the Debt Ceiling?</b></p><p>Congress has another important fiscal function: ensuring that the government can pay its bills, including for spending that lawmakers have already agreed to.</p><p>Unlike most other countries, the United States sets a hard limit on the amount of money it can borrow. As a result, Congress must periodically raise that cap because the government typically spends more money than it collects each year, adding to the national debt.</p><p>This is never a pleasant task for lawmakers who do not want to sign off on even more borrowing but also do not want to trigger a default. Sometimes Congress raises the debt ceiling quietly, as it did in August 2019, during Republican President Donald Trump&#39;s administration, and sometimes it uses the occasion to engage in a noisy debate over fiscal policy before raising the cap at the last possible moment, as it did in 2011.</p><p>This year could see a repeat of 2011, as Republicans who control the House of Representatives say they will not raise the debt ceiling unless Democratic President Joe Biden agrees to limit spending. The White House has said the borrowing limit must be raised without conditions.</p><p><b>What Happens If the Debt Ceiling Is Not Raised?</b></p><p>Treasury Secretary Janet Yellen said on Jan. 19 that the United States has reached its current $31.4 trillion borrowing cap, but can continue paying its bills until June by shuffling money between various accounts.</p><p>At that point, when the so-called extraordinary measures are exhausted, Treasury would not have enough money coming in from tax receipts to cover bond payments, workers&#39; salaries, Social Security checks and other bills.</p><p><b>How Would That Affect the Economy?</b></p><p>Unlike a government shutdown, experts say it could be catastrophic if the U.S. government was unable to pay its bills.</p><p>Some Republicans have suggested that Treasury could choose to cover some obligations, like Pentagon salaries and debt payments, and postpone others. Yellen has said that&#39;s not possible.</p><p>A missed debt payment would likely send shockwaves through global financial markets, as investors would lose confidence in Treasury&#39;s ability to pay its bonds, which are seen as among the safest investments and serve as building blocks for the world&#39;s financial system.</p><p>Treasury was unable to make timely payments to some small investors in 1979 due to computer problems, but analysts say that did not have a broader effect on financial markets.</p><p>A 2011 budget battle that took Washington to the brink of default prompted a stock sell-off and a first-ever downgrade of the United States&#39; top-tier credit rating. Other economic indicators, like consumer confidence and small business optimism, fell during that period as well.</p><p>The U.S. economy could face a severe contraction if the 69 million people enrolled in Social Security don&#39;t get their monthly retirement and disability benefits, or hospitals and doctors don&#39;t get paid for treating patients through government programs like Medicare.</p><p>Signs of worry are already showing up in financial markets, as investors are demanding higher yields on some Treasury bills.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2305190945","content_text":"Partisan brinksmanship in the U.S. Congress has made government shutdowns seem a routine part of governing in the past decade, but the current standoff in Washington over raising the $31.4 trillion federal debt ceiling is significantly riskier.What Is a Government Shutdown?Congress is supposed to pass detailed spending legislation for each fiscal year, which begins on Oct. 1, or temporary extensions to keep the government operating.If these bills don't get passed, agencies like the Defense Department and the Internal Revenue Service don't get the money they need to operate and must shut down or scale back their work.That has happened three times in the past 10 years. A battle over healthcare spending led to a 16-day shutdown in October 2013, while disputes over immigration led to a three-day shutdown in January 2018 and a 35-day shutdown between December 2018 and January 2019.According to the Congressional Budget Office, the 2018-2019 shutdown reduced economic activity by about $11 billion while it was underway, but much of that lost growth was recovered when government activity resumed. Overall, the shutdown cost the economy about $3 billion, equal to 0.02% of GDP, CBO found.What Is the Debt Ceiling?Congress has another important fiscal function: ensuring that the government can pay its bills, including for spending that lawmakers have already agreed to.Unlike most other countries, the United States sets a hard limit on the amount of money it can borrow. As a result, Congress must periodically raise that cap because the government typically spends more money than it collects each year, adding to the national debt.This is never a pleasant task for lawmakers who do not want to sign off on even more borrowing but also do not want to trigger a default. Sometimes Congress raises the debt ceiling quietly, as it did in August 2019, during Republican President Donald Trump's administration, and sometimes it uses the occasion to engage in a noisy debate over fiscal policy before raising the cap at the last possible moment, as it did in 2011.This year could see a repeat of 2011, as Republicans who control the House of Representatives say they will not raise the debt ceiling unless Democratic President Joe Biden agrees to limit spending. The White House has said the borrowing limit must be raised without conditions.What Happens If the Debt Ceiling Is Not Raised?Treasury Secretary Janet Yellen said on Jan. 19 that the United States has reached its current $31.4 trillion borrowing cap, but can continue paying its bills until June by shuffling money between various accounts.At that point, when the so-called extraordinary measures are exhausted, Treasury would not have enough money coming in from tax receipts to cover bond payments, workers' salaries, Social Security checks and other bills.How Would That Affect the Economy?Unlike a government shutdown, experts say it could be catastrophic if the U.S. government was unable to pay its bills.Some Republicans have suggested that Treasury could choose to cover some obligations, like Pentagon salaries and debt payments, and postpone others. Yellen has said that's not possible.A missed debt payment would likely send shockwaves through global financial markets, as investors would lose confidence in Treasury's ability to pay its bonds, which are seen as among the safest investments and serve as building blocks for the world's financial system.Treasury was unable to make timely payments to some small investors in 1979 due to computer problems, but analysts say that did not have a broader effect on financial markets.A 2011 budget battle that took Washington to the brink of default prompted a stock sell-off and a first-ever downgrade of the United States' top-tier credit rating. Other economic indicators, like consumer confidence and small business optimism, fell during that period as well.The U.S. economy could face a severe contraction if the 69 million people enrolled in Social Security don't get their monthly retirement and disability benefits, or hospitals and doctors don't get paid for treating patients through government programs like Medicare.Signs of worry are already showing up in financial markets, as investors are demanding higher yields on some Treasury bills.","news_type":1},"isVote":1,"tweetType":1,"viewCount":482,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9952142376,"gmtCreate":1674564594596,"gmtModify":1676538946722,"author":{"id":"3586234262681739","authorId":"3586234262681739","name":"Pluteon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586234262681739","authorIdStr":"3586234262681739"},"themes":[],"htmlText":"Y. H58mmiioiinjm... 6<a href=\"https://ttm.financial/S/INN\">$Summit Hotel Properties(INN)$ &nbsp;</a>,.&nbsp; Gkki","listText":"Y. H58mmiioiinjm... 6<a href=\"https://ttm.financial/S/INN\">$Summit Hotel Properties(INN)$ &nbsp;</a>,.&nbsp; Gkki","text":"Y. H58mmiioiinjm... 6$Summit Hotel Properties(INN)$ ,. Gkki","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9952142376","repostId":"2305190945","repostType":2,"repost":{"id":"2305190945","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1674562048,"share":"https://ttm.financial/m/news/2305190945?lang=&edition=fundamental","pubTime":"2023-01-24 20:07","market":"us","language":"en","title":"Shutdown? Default? Washington's Risky New Debt Ceiling Standoff","url":"https://stock-news.laohu8.com/highlight/detail?id=2305190945","media":"Reuters","summary":"Partisan brinksmanship in the U.S. Congress has made government shutdowns seem a routine part of gov","content":"<html><head></head><body><p>Partisan brinksmanship in the U.S. Congress has made government shutdowns seem a routine part of governing in the past decade, but the current standoff in Washington over raising the $31.4 trillion federal debt ceiling is significantly riskier.</p><p><b>What Is a Government Shutdown?</b></p><p>Congress is supposed to pass detailed spending legislation for each fiscal year, which begins on Oct. 1, or temporary extensions to keep the government operating.</p><p>If these bills don&#39;t get passed, agencies like the Defense Department and the Internal Revenue Service don&#39;t get the money they need to operate and must shut down or scale back their work.</p><p>That has happened three times in the past 10 years. A battle over healthcare spending led to a 16-day shutdown in October 2013, while disputes over immigration led to a three-day shutdown in January 2018 and a 35-day shutdown between December 2018 and January 2019.</p><p>According to the Congressional Budget Office, the 2018-2019 shutdown reduced economic activity by about $11 billion while it was underway, but much of that lost growth was recovered when government activity resumed. Overall, the shutdown cost the economy about $3 billion, equal to 0.02% of GDP, CBO found.</p><p><b>What Is the Debt Ceiling?</b></p><p>Congress has another important fiscal function: ensuring that the government can pay its bills, including for spending that lawmakers have already agreed to.</p><p>Unlike most other countries, the United States sets a hard limit on the amount of money it can borrow. As a result, Congress must periodically raise that cap because the government typically spends more money than it collects each year, adding to the national debt.</p><p>This is never a pleasant task for lawmakers who do not want to sign off on even more borrowing but also do not want to trigger a default. Sometimes Congress raises the debt ceiling quietly, as it did in August 2019, during Republican President Donald Trump&#39;s administration, and sometimes it uses the occasion to engage in a noisy debate over fiscal policy before raising the cap at the last possible moment, as it did in 2011.</p><p>This year could see a repeat of 2011, as Republicans who control the House of Representatives say they will not raise the debt ceiling unless Democratic President Joe Biden agrees to limit spending. The White House has said the borrowing limit must be raised without conditions.</p><p><b>What Happens If the Debt Ceiling Is Not Raised?</b></p><p>Treasury Secretary Janet Yellen said on Jan. 19 that the United States has reached its current $31.4 trillion borrowing cap, but can continue paying its bills until June by shuffling money between various accounts.</p><p>At that point, when the so-called extraordinary measures are exhausted, Treasury would not have enough money coming in from tax receipts to cover bond payments, workers&#39; salaries, Social Security checks and other bills.</p><p><b>How Would That Affect the Economy?</b></p><p>Unlike a government shutdown, experts say it could be catastrophic if the U.S. government was unable to pay its bills.</p><p>Some Republicans have suggested that Treasury could choose to cover some obligations, like Pentagon salaries and debt payments, and postpone others. Yellen has said that&#39;s not possible.</p><p>A missed debt payment would likely send shockwaves through global financial markets, as investors would lose confidence in Treasury&#39;s ability to pay its bonds, which are seen as among the safest investments and serve as building blocks for the world&#39;s financial system.</p><p>Treasury was unable to make timely payments to some small investors in 1979 due to computer problems, but analysts say that did not have a broader effect on financial markets.</p><p>A 2011 budget battle that took Washington to the brink of default prompted a stock sell-off and a first-ever downgrade of the United States&#39; top-tier credit rating. Other economic indicators, like consumer confidence and small business optimism, fell during that period as well.</p><p>The U.S. economy could face a severe contraction if the 69 million people enrolled in Social Security don&#39;t get their monthly retirement and disability benefits, or hospitals and doctors don&#39;t get paid for treating patients through government programs like Medicare.</p><p>Signs of worry are already showing up in financial markets, as investors are demanding higher yields on some Treasury bills.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Shutdown? Default? Washington's Risky New Debt Ceiling Standoff</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShutdown? Default? Washington's Risky New Debt Ceiling Standoff\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2023-01-24 20:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Partisan brinksmanship in the U.S. Congress has made government shutdowns seem a routine part of governing in the past decade, but the current standoff in Washington over raising the $31.4 trillion federal debt ceiling is significantly riskier.</p><p><b>What Is a Government Shutdown?</b></p><p>Congress is supposed to pass detailed spending legislation for each fiscal year, which begins on Oct. 1, or temporary extensions to keep the government operating.</p><p>If these bills don&#39;t get passed, agencies like the Defense Department and the Internal Revenue Service don&#39;t get the money they need to operate and must shut down or scale back their work.</p><p>That has happened three times in the past 10 years. A battle over healthcare spending led to a 16-day shutdown in October 2013, while disputes over immigration led to a three-day shutdown in January 2018 and a 35-day shutdown between December 2018 and January 2019.</p><p>According to the Congressional Budget Office, the 2018-2019 shutdown reduced economic activity by about $11 billion while it was underway, but much of that lost growth was recovered when government activity resumed. Overall, the shutdown cost the economy about $3 billion, equal to 0.02% of GDP, CBO found.</p><p><b>What Is the Debt Ceiling?</b></p><p>Congress has another important fiscal function: ensuring that the government can pay its bills, including for spending that lawmakers have already agreed to.</p><p>Unlike most other countries, the United States sets a hard limit on the amount of money it can borrow. As a result, Congress must periodically raise that cap because the government typically spends more money than it collects each year, adding to the national debt.</p><p>This is never a pleasant task for lawmakers who do not want to sign off on even more borrowing but also do not want to trigger a default. Sometimes Congress raises the debt ceiling quietly, as it did in August 2019, during Republican President Donald Trump&#39;s administration, and sometimes it uses the occasion to engage in a noisy debate over fiscal policy before raising the cap at the last possible moment, as it did in 2011.</p><p>This year could see a repeat of 2011, as Republicans who control the House of Representatives say they will not raise the debt ceiling unless Democratic President Joe Biden agrees to limit spending. The White House has said the borrowing limit must be raised without conditions.</p><p><b>What Happens If the Debt Ceiling Is Not Raised?</b></p><p>Treasury Secretary Janet Yellen said on Jan. 19 that the United States has reached its current $31.4 trillion borrowing cap, but can continue paying its bills until June by shuffling money between various accounts.</p><p>At that point, when the so-called extraordinary measures are exhausted, Treasury would not have enough money coming in from tax receipts to cover bond payments, workers&#39; salaries, Social Security checks and other bills.</p><p><b>How Would That Affect the Economy?</b></p><p>Unlike a government shutdown, experts say it could be catastrophic if the U.S. government was unable to pay its bills.</p><p>Some Republicans have suggested that Treasury could choose to cover some obligations, like Pentagon salaries and debt payments, and postpone others. Yellen has said that&#39;s not possible.</p><p>A missed debt payment would likely send shockwaves through global financial markets, as investors would lose confidence in Treasury&#39;s ability to pay its bonds, which are seen as among the safest investments and serve as building blocks for the world&#39;s financial system.</p><p>Treasury was unable to make timely payments to some small investors in 1979 due to computer problems, but analysts say that did not have a broader effect on financial markets.</p><p>A 2011 budget battle that took Washington to the brink of default prompted a stock sell-off and a first-ever downgrade of the United States&#39; top-tier credit rating. Other economic indicators, like consumer confidence and small business optimism, fell during that period as well.</p><p>The U.S. economy could face a severe contraction if the 69 million people enrolled in Social Security don&#39;t get their monthly retirement and disability benefits, or hospitals and doctors don&#39;t get paid for treating patients through government programs like Medicare.</p><p>Signs of worry are already showing up in financial markets, as investors are demanding higher yields on some Treasury bills.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2305190945","content_text":"Partisan brinksmanship in the U.S. Congress has made government shutdowns seem a routine part of governing in the past decade, but the current standoff in Washington over raising the $31.4 trillion federal debt ceiling is significantly riskier.What Is a Government Shutdown?Congress is supposed to pass detailed spending legislation for each fiscal year, which begins on Oct. 1, or temporary extensions to keep the government operating.If these bills don't get passed, agencies like the Defense Department and the Internal Revenue Service don't get the money they need to operate and must shut down or scale back their work.That has happened three times in the past 10 years. A battle over healthcare spending led to a 16-day shutdown in October 2013, while disputes over immigration led to a three-day shutdown in January 2018 and a 35-day shutdown between December 2018 and January 2019.According to the Congressional Budget Office, the 2018-2019 shutdown reduced economic activity by about $11 billion while it was underway, but much of that lost growth was recovered when government activity resumed. Overall, the shutdown cost the economy about $3 billion, equal to 0.02% of GDP, CBO found.What Is the Debt Ceiling?Congress has another important fiscal function: ensuring that the government can pay its bills, including for spending that lawmakers have already agreed to.Unlike most other countries, the United States sets a hard limit on the amount of money it can borrow. As a result, Congress must periodically raise that cap because the government typically spends more money than it collects each year, adding to the national debt.This is never a pleasant task for lawmakers who do not want to sign off on even more borrowing but also do not want to trigger a default. Sometimes Congress raises the debt ceiling quietly, as it did in August 2019, during Republican President Donald Trump's administration, and sometimes it uses the occasion to engage in a noisy debate over fiscal policy before raising the cap at the last possible moment, as it did in 2011.This year could see a repeat of 2011, as Republicans who control the House of Representatives say they will not raise the debt ceiling unless Democratic President Joe Biden agrees to limit spending. The White House has said the borrowing limit must be raised without conditions.What Happens If the Debt Ceiling Is Not Raised?Treasury Secretary Janet Yellen said on Jan. 19 that the United States has reached its current $31.4 trillion borrowing cap, but can continue paying its bills until June by shuffling money between various accounts.At that point, when the so-called extraordinary measures are exhausted, Treasury would not have enough money coming in from tax receipts to cover bond payments, workers' salaries, Social Security checks and other bills.How Would That Affect the Economy?Unlike a government shutdown, experts say it could be catastrophic if the U.S. government was unable to pay its bills.Some Republicans have suggested that Treasury could choose to cover some obligations, like Pentagon salaries and debt payments, and postpone others. Yellen has said that's not possible.A missed debt payment would likely send shockwaves through global financial markets, as investors would lose confidence in Treasury's ability to pay its bonds, which are seen as among the safest investments and serve as building blocks for the world's financial system.Treasury was unable to make timely payments to some small investors in 1979 due to computer problems, but analysts say that did not have a broader effect on financial markets.A 2011 budget battle that took Washington to the brink of default prompted a stock sell-off and a first-ever downgrade of the United States' top-tier credit rating. Other economic indicators, like consumer confidence and small business optimism, fell during that period as well.The U.S. economy could face a severe contraction if the 69 million people enrolled in Social Security don't get their monthly retirement and disability benefits, or hospitals and doctors don't get paid for treating patients through government programs like Medicare.Signs of worry are already showing up in financial markets, as investors are demanding higher yields on some Treasury bills.","news_type":1},"isVote":1,"tweetType":1,"viewCount":482,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9970765924,"gmtCreate":1684993230269,"gmtModify":1684994873435,"author":{"id":"3586234262681739","authorId":"3586234262681739","name":"Pluteon","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586234262681739","authorIdStr":"3586234262681739"},"themes":[],"htmlText":"G89","listText":"G89","text":"G89","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9970765924","repostId":"2338158243","repostType":2,"repost":{"id":"2338158243","kind":"highlight","pubTimestamp":1684991945,"share":"https://ttm.financial/m/news/2338158243?lang=&edition=fundamental","pubTime":"2023-05-25 13:19","market":"sg","language":"en","title":"Grab Co-Founder Tan Hooi Ling to Exit Her Operational Roles","url":"https://stock-news.laohu8.com/highlight/detail?id=2338158243","media":"The Straits Times","summary":"SINGAPORE – Grab Holdings co-founder Tan Hooi Ling is stepping down from her operational roles by th","content":"<div>\n<p>SINGAPORE – Grab Holdings co-founder Tan Hooi Ling is stepping down from her operational roles by the end of the year, more than a decade after she helped start the Singapore-based ride-hailing and ...</p>\n\n<a href=\"https://www.straitstimes.com/business/grab-co-founder-tan-hooi-ling-to-exit-her-operational-roles\">Web Link</a>\n\n</div>\n","source":"straits_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Grab Co-Founder Tan Hooi Ling to Exit Her Operational Roles</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGrab Co-Founder Tan Hooi Ling to Exit Her Operational Roles\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-25 13:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.straitstimes.com/business/grab-co-founder-tan-hooi-ling-to-exit-her-operational-roles><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SINGAPORE – Grab Holdings co-founder Tan Hooi Ling is stepping down from her operational roles by the end of the year, more than a decade after she helped start the Singapore-based ride-hailing and ...</p>\n\n<a href=\"https://www.straitstimes.com/business/grab-co-founder-tan-hooi-ling-to-exit-her-operational-roles\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GRAB":"Grab Holdings"},"source_url":"https://www.straitstimes.com/business/grab-co-founder-tan-hooi-ling-to-exit-her-operational-roles","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2338158243","content_text":"SINGAPORE – Grab Holdings co-founder Tan Hooi Ling is stepping down from her operational roles by the end of the year, more than a decade after she helped start the Singapore-based ride-hailing and food delivery company.Ms Tan, 39, will also give up her seat on the board, although she will remain an adviser to the company, according to an internal memo sent to employees on Thursday and seen by Bloomberg News.She currently leads Grab’s technology and corporate strategy teams, and previously served as operating chief until 2022.Her exit leaves chief executive officer Anthony Tan steering the company without his co-founder as it fights to reverse years of losses. Last week, its shares fell the most in more than a year after the company reported slowing spending by customers grappling with a higher rate of inflation and rising interest rates.The two Tans, who are not related, founded Grab in 2012. Ms Tan then left briefly to work at other companies in the United States before rejoining Grab in April 2015. She led various operations and technology teams, and has also served as a member of Grab’s board since its stock market debut in the US in December 2021.In the memo to staff, Mr Tan said he wholeheartedly supports his co-founder’s decision to “pursue her personal passions at this time”.A succession plan has been in place for some time, he added.Grab is battling intensifying competition in South-east Asia’s ride-hailing and delivery markets, with the contenders luring customers with promotions and lower prices. Grab has been slower to reduce expenses than regional competitors – as Singapore’s Sea and Indonesia’s GoTo Group eliminated thousands of jobs in 2022, Grab refrained from mass layoffs.The company has predicted it can reach break-even on an adjusted basis in the last quarter of this year. While it reported a narrower quarterly loss last week, its customers are spending less on the platform than analysts expected. In the first quarter, its net loss narrowed to US$244 million (S$330 million) from US$423 million a year earlier. BLOOMBERG","news_type":1},"isVote":1,"tweetType":1,"viewCount":359,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}