By Prashant Gopal From Bloomberg News In the most competitive housing market in U.S. history, sales are beginning to stall. Home transactions fell 1.2 percent in June from May, the largest drop for the month in records going back to 2012, according to seasonally adjusted data from Redfin Corp. The inventory reached an all-time low,…
Startup Investment Poised to Break Records in 2021, Report Says
By Akash Pasricha From The Seattle Times Venture capital is continuing its surge in the Pacific Northwest, as startup investment across the United States is on track to shatter records, according to a new report released this week. The spike is driven by a rise in late-stage investment, and particularly deals that exceed $100 million,…
People Who Don’t Want Social Security
When we are talking about Social Security benefits, almost everyone wants more, not less. You can probably find 10,000 articles on the Internet if you search “maximizing your Social Security.” But I’ll give you $1,000 if you can find one story headlined “minimizing your Social Security.” Or consider this. Over the past 50 years, I…
Pfizer Agrees to Pay $345 Million to Resolve EpiPen Pricing Lawsuit
Pfizer Inc has agreed to pay $345 million to resolve claims by consumers who claim they overpaid for EpiPens due to anticompetitive and unfair practices by the drugmaker and the company that markets the emergency allergy treatment, Mylan. The proposed class action settlement was disclosed in a filing in federal court in Kansas City, Kansas….
EU Probes 3.2 Billion Euro Restructuring Aid for Airline TAP
BRUSSELS—EU competition regulators will investigate whether a 3.2–billion-euro ($3.8 billion) restructuring plan for ailing Portuguese airline TAP is proportionate and complies with EU state aid rules, the European Commission said on Friday. The overhaul plan involves around 2,000 job cuts by 2022, pay cuts of up to 25 percent, a reduced fleet, and the sale…
Chinese Regulators Send Teams to Didi for Cybersecurity Review
BEIJING—The Cyberspace Administration of China (CAC) said on Friday that officials from at least seven departments sent teams to conduct an on-site cybersecurity review of ride-hailing giant Didi Global Inc. The regulators include the CAC, Ministry of Public Security, Ministry of State Security, Ministry of Transport, Ministry of Natural Resources, State Taxation Administration, and State Administration…
Ford Recalling 775,000 SUVs for Steering Issue Linked to Six Injuries
WASHINGTON—Ford Motor Co said on Friday it was recalling about 775,000 Ford Explorer SUVs worldwide for a steering issue linked to reports of six injuries in North America. The recall covers 2013–2017 model year vehicles that may experience a seized cross-axis ball joint that could cause a fractured rear-suspension toe link, which could significantly diminish…
FAA Orders Checks on 9,300 Boeing 737 Planes for Possible Switch Failures
July 16, 2021
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WASHINGTON—The Federal Aviation Administration (FAA) on Thursday issued a directive to operators of all Boeing Co 737 series airplanes to conduct inspections to address possible failures of cabin altitude pressure switches. The directive requires operators to conduct repetitive tests of the switches and replace them if needed. The directive covers 2,502 U.S.-registered airplanes and 9,315…
Climate Change Activism Will Benefit Heavy Emissions Producers Overseas: Mining Industry
July 16, 2021
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Attempts to shut down Australia’s coal industry for the sake of climate change are premature—according to mining industry representatives—who say Asian nations will simply source coal from other countries, many of which have less stringent environmental regulations. The warning comes as the International Energy Agency (IEA) revealed global electricity demand—namely from India and China—could rise,…
US Urges 50,000 Chevy Bolt Owners to Park Outside Because of Fire Risks
WASHINGTON— U.S. auto safety regulators on Wednesday urged about 50,000 owners of General Motors electric Chevrolet Bolt vehicles that were recalled last year to park outside and away from homes and other structures after charging because of fire risks. Earlier on Wednesday, GM made the same recommendation and added owners should not leave vehicles charging…
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