WASHINGTON—Borrowing by Americans fell in January for the first time in five months, as the use of credit cards fell to the lowest level in four years, offsetting gains in auto loans and student loans. The Federal Reserve reported Friday that consumer borrowing fell by $1.3 billion in January, the first setback since a $9…
Brent Cracks $70 for First Time Since Pandemic Began After Saudi Facilities Attacked
SINGAPORE—Brent crude futures jumped above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while U.S. crude touched its highest in more than two years, following reports of attacks on Saudi Arabian oil facilities. Brent crude futures for May reached $71.16 a barrel in early Asian trade and were at…
Everything’s Coming up COVID for Much Public Spending … Even as Virus Fades
March 5, 2021
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$15 an hour minimum wageBusinessCCP virus pandemicCOVID-19-related spendingEconomieseconomyUSUS News
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For some special interests, a fading coronavirus pandemic poses a problem, but not always an insurmountable one. Big Labor and its acolytes cite the virus as a compelling reason for doubling the minimum wage and forcing businesses to provide more paid sick leave, while the Biden administration is using the pandemic as part of its…
US Trade Deficit up 1.9 Percent in January on Record Goods Imports
SILVER SPRING, Md.—The level of imported goods to the U.S. in January reached unprecedented levels and pushed the trade deficit 1.9 percent higher as the coronavirus pandemic continues to distort global commerce. The gap between the goods and services the United States sold and what it bought abroad rose to $68.2 billion from $67 billion…
FTSE Russell to Drop Xiaomi, Luokung From Indexes on US Order; Scraps AMEC Inclusion
March 5, 2021
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AMECBusinessChinaChina Business & EconomyChina-US NewsCompaniesFTSE RussellindexesLuokungMarketsUSUS NewsXiaomi
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SHANGHAI—Global index publisher FTSE Russell will drop Xiaomi and another high-tech firm from global and Chinese indexes, it said on Friday, and scrap inclusion of a semiconductor firm, in line with a U.S. executive order by President Donald Trump. The changes come after the Trump administration in January placed Xiaomi and eight other companies on…
US Adds a Strong 379,000 Jobs in Hopeful Sign for Economy
WASHINGTON—U.S. employers added a robust 379,000 jobs last month, the most since October and a sign that the economy is strengthening as confirmed viral cases drop, consumers spend more, and states and cities ease business restrictions. The February gain marked a sharp pickup from the 166,000 jobs that were added in January and a loss…
Aussie CEO Defies Critical Race Theory Policies and Chinese Supply Chains on Principle
March 4, 2021
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AustraliaAustralia corporateBusinessCensorship & SocialismCompaniesInternationalKennards StoragewokenessWorld
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One Australian CEO is defying the trend of woke corporate policies which he says promote “division and exclusion” in the workplace. He wants nothing to do with the movement, which has its origin in the critical race theory and identity politics of cultural Marxism. Sam Kennard is the chief executive of Kennards Storage, one of…
US Probing Engine Fires in Nearly 1.9 Million Toyota RAV4 SUVs
DETROIT—The U.S. government is investigating complaints of engine compartment fires in nearly 1.9 million Toyota RAV4 small SUVs. The National Highway Traffic Safety Administration began investigating after getting 11 fire complaints involving the 2013 through 2018 model years. The RAV4 is the top-selling vehicle in the U.S. that isn’t a pickup truck. In documents posted…
Volkswagen’s Skoda Says to Cut 2% of Admin Jobs in 2021
PRAGUE—Volkswagen’s Skoda Auto aims to cut 2 percent of administrative jobs in the Czech Republic in 2021 by not replacing staff who leave rather than through redundancies, the country’s largest carmaker said on Thursday. Skoda, the Czech Republic’s biggest exporter, employs around 42,000 people globally. While most of these staff are employed locally, the company…
McDonald’s to Keep Dining Rooms Closed in Texas, Mississippi
McDonald’s Corp will keep dining rooms in its Texas and Mississippi restaurants closed, even as the two U.S. states lifted coronavirus curbs allowing businesses to reopen at full capacity. The fast-food chain told Reuters on Thursday it was not planning to make any changes to its COVID-19 protocols right away. The decline in the new…
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