Treasury Secretary Janet Yellen said that the trillions of dollars in President Joe Biden’s new spending proposals would be good for the United States even if it pushes inflation higher and leads the Fed to raise interest rates. “If we ended up with a slightly higher interest rate environment it would actually be a plus…
France Fines Google $268 Million for Unfair Online Ads Treatment
PARIS—France’s anti-competition watchdog decided Monday to fine Google 220 million euros ($268 million) for abusing its “dominant position” in the online advertising business, an unprecedented move, the body said. Practices used by Google “are particularly serious because they penalize Google’s competitors” in certain markets and publishers of mobile sites and applications, the statement by the…
Seafarers Worldwide Marooned by Perfect Storm of COVID-19 Restrictions
In the wake of the pandemic, over 200,000 seafarers worldwide remain trapped on ships or are waiting for work. Many have been barred from entering ports due to virus restrictions, causing major disruption to international shipping lanes and the wellbeing of sea workers. A crew change or changeover occurs at a port of call where…
‘People Want to Fly Again’: Airbus CEO Expects Business Travel to Recover
VIENNA—Airbus Chief Executive Guillaume Faury expects business air travel eventually to return to close to pre-pandemic levels and airlines are devoting the same space to business class seats as before, he said in an interview published on Sunday. Air travel remains in crisis despite accelerating vaccine rollouts in developed countries. With video calls having replaced…
El Salvador’s President Says Will Send Bill to Make Bitcoin Legal Tender
SAN SALVADOR—El Salvador’s President Nayib Bukele said on Saturday that he will send a bill to Congress next week to make bitcoin legal tender in the Central American nation, touting its potential to help Salvadorans living abroad send remittances home. “In the short term this will generate jobs and help provide financial inclusion to thousands…
Are Tesla’s Sudden China Woes a Harbinger of Things to Come?
News Analysis To see the impact China’s fickle market can do to a company’s value, look no further than Tesla. On April 20, the Chinese Communist Party (CCP)’s media and regulators began a series of public rebukes against the California-based electric carmaker. The criticisms were broad, ranging from Tesla’s car safety, to data gathering practices,…
US Expansion of Chinese Company Blacklist Aims to ‘Purge the Red Assets’: Expert
June 6, 2021
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The United States is gearing up to uproot “red assets,” said an analyst after Washington moved to ban Americans from investing in dozens of Chinese military firms. Two days earlier, President Joe Biden signed an executive order blacklisting 59 Chinese defense and surveillance technology firms. The ban expands on a Trump-era order, which covered a…
Royal Caribbean Backs Down, Won’t Force Passengers on US Cruises to Be Vaccinated
June 5, 2021
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Royal Caribbean has decided not to require passengers on U.S. cruises to be vaccinated against the virus that causes COVID-19. An ongoing battle with Florida Gov. Ron DeSantis has apparently concluded as the company announced Friday that passengers do not need a COVID-19 vaccine. “Guests are strongly recommended to set sail fully vaccinated, if they…
Royal Caribbean Won’t Force Passengers on US Cruises to Be Vaccinated
June 5, 2021
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AMERICABusinessCCP VirusCompaniesFloridaPoliticsRepublicansRoyal CaribbeanUSUS NewsVaccines & Safety
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Royal Caribbean has decided not to require passengers on U.S. cruises to be vaccinated against the virus that causes COVID-19. An ongoing battle with Florida Gov. Ron DeSantis has apparently concluded as the company announced Friday that passengers do not need a COVID-19 vaccine. “Guests are strongly recommended to set sail fully vaccinated, if they…
Biden’s Infrastructure Plan Would Be a Drag on Economic Growth: Tax Foundation
June 5, 2021
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The combined tax and spend features of the Biden administration’s proposed infrastructure package—the American Jobs Plan (AJP)—would lead to weaker economic growth and fewer jobs, a tax policy think tank estimates. The Washington-based Tax Foundation, a nonpartisan group that often subjects high tax policies to critical scrutiny, said in a new analysis that the AJP would shave…
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