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Real-time News
A senior Iranian official said the United States cannot reopen the Strait of Hormuz with "unrealistic plans".On May 7th, the Ministry of Ecology and Environment held a symposium in Beijing on a diversified investment mechanism for scientific and technological innovation in the field of ecological environment. The meeting emphasized that establishing a diversified investment mechanism for scientific and technological innovation in the field of ecological environment is crucial for long-term development and overall stability. It stressed the need to fully leverage the governments guiding role, attracting social capital participation through major projects to create a diversified investment pattern. It also emphasized the importance of focusing on full-chain, full-cycle R&D investment, building a comprehensive funding support system around basic research, technology development, and industrialization demonstration. Furthermore, it called for deepening the synergy between fiscal and financial institutions, innovating financial services such as investment, loans, guarantees, bonds, and leasing to provide diversified financing support. The meeting stressed the need to strengthen the leading role of enterprises in scientific and technological innovation, increasing support for enterprises participating in major national science and technology projects, and promoting collaborative innovation among industry, academia, and research institutions. Finally, it emphasized the need to strengthen financial risk prevention, establishing a full-process performance tracking mechanism to ensure the safe and efficient use of funds.Porsche will reduce the number of its departments from eight to seven.On May 7th, a think tank comprised of current and former central bank policymakers stated that if the Federal Reserve hopes to withstand ongoing political attacks and maintain its independence, it needs to improve its monetary policy implementation and communication with investors and the public. This report, led by former New York Fed President Dudley, from the Group of Thirty (G-30), discussed some of the reform recommendations put forward by Warsh, a nominee for Fed Chair and also a G-30 member, and made eight recommendations, including: publishing a clear roadmap outlining when and how the Fed will use its balance sheet, the associated costs and benefits, and the risks and potential benefits of balance sheet reduction. Recommendations also include publishing more detailed staff forecasts and limiting forward guidance to periods when interest rates are near zero. The group also urged the Fed to more clearly define the responsibilities between the central bank and the U.S. Treasury, particularly regarding balance sheet policy and financial stability tools. The report also recommended external review of the Feds policy framework and operations. The report also refuted Warshs suggestion to limit Fed policymakers communication through speeches and other channels. The group clearly stated that the Fed Chair has no right to make this change unilaterally, and that current external communication is an important tool for transparency.SpaceX is preparing for large-scale spending ahead of its IPO.
