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Former Treasury Secretary Steven Mnuchin is planning an investment fund backed by Persian Gulf wealth funds, report says

Ahmaud Arbery’s Mother, Wanda Cooper-Jones, Reflects on His Death a Year Later

A year after he was murdered, Ahmaud Arbery’s mother, Wanda Cooper-Jones, continues to speak out.

Arbery, a 25-year-old Black man, was killed last February when a pair of white men chased him down and shot him as he jogged near his home in Satilla Shores, Georgia. The killers, former police officer Gregory McMichael and his son Travis McMichael, wrongly accused Arbery as the culprit behind recent break-ins in the neighborhood. The McMichaels and William Bryan, the man who filmed the shooting, were arrested and charged with murder weeks after Arbery’s death. Per NBC Nightly News, no trial date for the McMichaels or Bryan has been set.

“I cannot [move on,]” Cooper-Jones told reporter Blayne Alexander. “I try, but when I laid Ahmaud to rest last February, a part of me left also. It’s painful.”

In the months after Arbery’s death, new evidence emerged from the body cameras of police officers who arrived on the scene. “He was still lying there awake. Alive. Moving his head and his leg,” Cooper-Jones said. “It replays in my mind each and every day.”

Despite the loss of her son, Cooper-Jones told NBC that she’s looking ahead.

“I’m hoping. I pray,” she said. “Because I have another son, I have grandsons. I pray, I pray.”

U.S. manufacturers stare at steel shortages, soaring prices

Hot-rolled steel hits $1,176 a tonne, the highest in 13 years

An aerospace parts maker in California is struggling to procure cold-rolled steel, while an auto and appliance parts manufacturer in Indiana is unable to secure additional supplies of hot-rolled steel from mills.

Both companies and more are getting hit by a fresh round of disruption in the U.S. steel industry. Steel is in short supply in the United States and prices are surging. Unfilled orders for steel in the last quarter were at the highest level in five years, while inventories were near a three-and-a-half-year low, according to data from the Census Bureau.

The benchmark price for hot-rolled steel hit $1,176 a tonne this month, its highest level in at least 13 years.

Soaring prices are driving up costs and squeezing profits at steel-consuming manufacturers, provoking a new round of calls to end former President Donald Trump’s steel tariffs.

“Our members have been reporting that they have never seen such chaos in the steel market,” said Paul Nathanson, executive director at Coalition of American Metal Manufacturers and Users. The group, which represents more than 30,000 companies in the manufacturing sector and downstream supply chains, this month asked President Joe Biden to terminate Mr. Trump’s metal tariffs.

Herald morning quiz: February 24

Test your brains with the Herald’s morning quiz. Be sure to check back on nzherald.co.nz at 3pm for the afternoon quiz.

To challenge yourself with more quizzes, CLICK HERE.

Linda Thomas-Greenfield confirmed as U.S. ambassador to the United Nations

  • The Senate voted 78-20 to confirm Linda Thomas-Greenfield as the U.S. ambassador to the United Nations.
  • Thomas-Greenfield has a lengthy career serving as an international diplomat, with most of the time dedicated to U.S. efforts in Africa.
  • She had been criticized for a 2019 speech on China that she ultimately called a mistake.

The Senate on Tuesday confirmed Linda Thomas-Greenfield as the U.S. ambassador to the United Nations.

She was confirmed by a vote of 78-20.

Thomas-Greenfield has a lengthy career serving as an international diplomat, with most of the time dedicated to U.S. efforts in Africa. The Louisiana native an ambassador to Liberia and assistant secretary of State for African Affairs during the Obama administration.

During her Jan. 27 confirmation hearing, she was peppered about questions regarding her policy approach to China.

Critics, including GOP Sen. Ted Cruz of Texas, said she had gone too easy on China in a 2019 speech at an institute that had been suspected of pushing Chinese propaganda.

In response, Thomas-Greenfield called the speech a mistake and vowed to limit Beijing's influence at U.N. general assembly meetings.

Former Treasury Secretary Steven Mnuchin is planning an investment fund backed by Persian Gulf wealth funds, report says

Reuters

  • Former Treasury Secretary Steven Mnuchin plans to launch an investment fund backed by sovereign wealth funds in the Persian Gulf, the Washington Post reported. 
  • The fund will invest in areas including financial technology and entertainment.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

Former Treasury Secretary Steven Mnuchin is planning to launch an investment fund that will be backed by sovereign wealth funds in the Persian Gulf region and other investors, the Washington Post reported on Tuesday.

Citing two people familiar with the matter, the Washington Post said the fund will invest in areas including financial technology and entertainment, among other potential sectors. 

The United Arab Emirates, Kuwait, Qatar and Saudi Arabia control some of the Persian Gulf region’s largest investment funds, according to the Sovereign Wealth Fund Institute.

Mnuchin traveled to the region frequently during his time as the head of the US Treasury, usually in relation to the treasury’s mission to combat terrorism financing. 

Before his tenure in the White House, Mnuchin worked as a filmmaker and on Wall Street, including a 17 year stint at Goldman Sachs.