In Brief
PHILADELPHIA — A contract shows the World Meeting of Families will reimburse Philadelphia for the $12 million it's spending on preparations for Pope Francis' visit.
Mayor Michael Nutter released the contract Monday.
The nonprofit has already paid $230,000 in fees to use locations like the Benjamin Franklin Parkway, which will be closed for a papal Mass that hundreds of thousands are expected to attend. The contract shows the group must also pay a $2.5 million security deposit.
A breakdown of city expenses shows nearly $5 million for police and nearly $4 million for the fire department, including emergency medical services. The city's Office of Emergency Management and Streets Department are each charging more than $800,000.
SEATTLE — When Chinese President Xi Jinping addresses a meeting of some of the top names in Chinese and American business today, they may be most interested what he says about progress toward a treaty between the nations that would provide a framework for broader investment in each other's economy.Apple Chief Executive Tim Cook, Microsoft's Satya Nadella, Amazon's Jeff Bezos, investor Warren Buffett and Jack Ma of Chinese e-commerce giant Alibaba are among the 30 top executives attending a closed-door discussion being moderated by former U.S. Treasury Secretary Henry Paulson, who has advocated for such a treaty. All of the American CEOs participating signed a letter to Xi and U.S. President Barack Obama urging them to support an agreement.Bilateral investment treaties provide the rules of the road for companies doing business in other countries, and can help ensure that the rights of foreign investors are protected and that foreign companies operate on a level playing field with domestic ones. An agreement with China would open up more of that nation's massive market to American companies.
