In today’s news updates we provide links on China’s economic clout, Senate deal on Swaps and South Africa’s massive HIV Prevention and Treatment Campaign.
Johannesburg — President Zuma today launched an ambitious campaign that could alter the face of the AIDS epidemic, in South Africa and globally. The campaign aims to test 15 million people for HIV by the year 2011, up from 2.5 million in 2009 – a six-fold increase in just two years. Through the campaign, 1.5 million people will receive antiretroviral treatment by June 2011, up from about 1 million in 2009.
Beijing – China has earned a new degree of recognition for its growing influence on the global economy, after members of the World Bank decided Sunday to increase Beijing’s voting power behind only the United States and Japan in the international lending body.
NEW YORK (Dow Jones)–Financial shares were showing little reaction in premarket trading Monday to news that key Senate Democrats have reached a tentative deal on sweeping new rules for the derivatives market that is expected to force major Wall Street banks to spin off their swaps desks.
Under the deal, between Senate Banking Chairman Christopher Dodd, (D., Conn.) and Agriculture Chairwoman Blanche Lincoln (D., Ark.), the derivatives portion of the bill will include a controversial provision that would force banks to spin off their swaps desks to be eligible for federal financial assistance from the Federal Reserve and Federal Deposit Insurance Corp.
Just released by the New York Times. Click on the below link for the full story.
WASHINGTON — After a half-day of animated debate, the Senate Finance Committee on Tuesday rejected efforts by liberal Democrats to add a government-run health insurance plan to major health care legislation, dealing the first official setback to an idea that many Democrats, including President Obama, say they support.
All of the other versions of the health care legislation advancing in Congress — a bill approved by the Senate health committee and a trio of bills in the House — include some version of the government-run plan, or public option.
But the Finance Committee chairman, Senator Max Baucus, Democrat of Montana, long ago removed it from his proposal because of stiff opposition from Republicans who call the public plan a step toward “socialized medicine.”
The committee on Tuesday afternoon voted, 15 to 8, to reject an amendment proposed by Senator John D. Rockefeller IV, Democrat of West Virginia, to add a public option called the Community Choice Health Plan, an outcome that underscored the lack of support for a government plan among many Democrats.