News

Janet Yellen warns Congress again of debt default

Published

1 year ago

May 16, 2023

ticker NEWS

In her second letter to Congress in two weeks, Treasury Secretary Janet Yellen warns the agency will be unlikely to meet payment obligations by June 1

The U.S. Treasury Department says it is just weeks away from running out of money to pay the nation’s bills.

In her second letter to Congress in two weeks, Treasury Secretary Janet Yellen warns the agency will be unlikely to meet payment obligations by June 1.

This would trigger the first-ever U.S. default.

The new date reflects further data on revenues and payments received since Yellen told lawmakers in May that Treasury is running out of cash.

This fresh warning comes a day before Joe Biden is expected to meet House Speaker Kevin McCarthy for talks.

Yellen says she will provide an additional update to Congress next week as more information becomes available.

Of course, Biden will travel to Japan on Wednesday for a Group of Seven leaders summit, then onto Australia for a trip that will stretch over a week.

On Monday, McCarthy said there had been no progress in marathon talks throughout the weekend.

Yellen has repeatedly warned a failure by Congress to raise the $31.4 trillion federal debt limit could spark a “constitutional crisis” and unleash an “economic and financial catastrophe”.

News

Microsoft reporting for duty with top tier title

Published

5 hours ago

May 21, 2024

ticker NEWS

Major Gamepass addition are on the way, with Call of Duty: Black Ops title.

Reports suggest this as the largest addition to the service since its launch, indicating a strategic effort to boost subscription numbers in a challenging market. The decision, likely to be officially announced during the upcoming Xbox Games Showcase on June 9, reflects a shift in the gaming landscape and Microsoft’s commitment to Game Pass. Despite potential drawbacks such as upsetting existing subscribers and sacrificing direct sales revenue. #Featured #Trending

Leaders

Can Taiwan’s new President ease tensions with China?

Published

6 hours ago

May 21, 2024

ticker NEWS

Taiwan’s newly elected President Lai Ching-te made a bold plea to China, urging the nation to halt its aggressive rhetoric and military threats towards Taiwan.

The statement comes amid escalating tensions between the two sides, raising concerns about the potential for conflict in the region.

The Taiwanese President Lai Ching-te emphasised the importance of peaceful coexistence and dialogue between the two countries, stressing the need for mutual respect and understanding.

Professor Tim Harcourt from UTS and host of the Airport Economist joins to discuss.

News

Hollywood star speaks out against ChatGPT after AI steals voice

Published

6 hours ago

May 21, 2024

ticker NEWS

In a recent interview, Hollywood star Scarlett Johansson expressed her surprise at the uncanny similarity between her voice and that of an OpenAI chatbot.

On this episode of Ahron & Mike Live – It’s AI madness! Hollywood star Scarlett Johansson speaks out against AI, Microsoft partner with Qualcomm and Google unveil Project Astra.

Ticker’s Ahron Young & Mike Loder discuss. #featured