President Joe Biden and Treasury Secretary Janet Yellen on Friday sought to fend off claims that the enhanced unemployment boost was creating a disincentive for people to take jobs, after a wave of criticism to that effect following Friday’s disappointing employment report that showed a sharp slowdown in hiring despite job openings at near-record levels….
Biden Fends Off Criticism That Federal Unemployment Boost Keeps Workers From Taking Jobs
Ready to Exit China? Tesla Pays Off $614 Million Loan for Its Shanghai Factory
May 7, 2021
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all electric vehiclesBusinessChinaChina Business & EconomyChinese RegimeCompaniesElon Musknew energy vehiclestesla
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News Analysis Tesla has recently repaid in full the $614 million loan for the construction of its Gigafactory 3, a super factory located in Shanghai. After the news broke out, the rumor that Tesla may be preparing to leave the Chinese market spread fast on social media. The construction of the Shanghai plant began at…
Pfizer/BioNTech Ask US Regulators for Full Approval of COVID-19 Vaccine
Pfizer and BioNTech are asking drug regulators in the United States for full approval for their COVID-19 vaccines. The two companies announced on Friday that they initiated a rolling submission for a biologics license application by submitting nonclinical and clinical data, including the most recent analyses from a Phase 3 clinical trial, to the Food and…
Results Tally up Billions in Profit From Texas Freeze for Gas and Power Sellers
Natural gas suppliers, pipeline companies, and banks that trade commodities have emerged as the biggest market winners from February’s U.S. winter blast that roiled gas and power markets, according to more than two dozen interviews and quarterly earnings reports. The deep freeze caught Texas’s utilities off-guard, killed more than 100 people and left 4.5 million…
Britain Set for Best Growth Since Second World War: Bank of England
The Bank of England has forecast the economy will grow this year at its fastest pace since the Second World War as Britain stages a vaccine-fuelled recovery. The Bank predicts gross domestic product (GDP)—a measure of the size of the economy—will rebound by 7.25 percent in 2021 up from its previous prediction of 5 percent…
West Must Be ‘Very Careful’ About Chinese Investment, Blinken Says
May 6, 2021
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Anthony BlinkenBusinessChinaChina Business & EconomyChina-US NewsChineseChinese RegimeEconomieseconomyExecutive BranchInvestmentPoliticsUSUS News
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LONDON—Antony Blinken, U.S. Secretary of State, said the West has to be very careful about the exact nature of Chinese investment in Western economies and give careful consideration to investments in strategic assets. China’s spectacular economic and military rise over the past 40 years is among the most significant geopolitical events of recent history, alongside the…
US Commerce Department Presses Taiwan for More Chips to Automakers
May 6, 2021
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Asia & PacificautomakersBusinessCompaniesEconomieseconomyMarketsMore ChipsTaiwanU.S. Commerce Dept.USWorld
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WASHINGTON—The U.S. Commerce Department is pressing Taiwan Semiconductor Manufacturing Co Ltd and other Taiwanese firms to prioritize the needs of U.S. automakers to ease chip shortages in the near term, Commerce Secretary Gina Raimondo said. Raimondo told a Council of the Americas event on Tuesday that longer term, increased investment was needed to produce more…
Peloton Recalls Treadmills, Halts Sales, After a Child Dies
NEW YORK—Peloton is recalling about 125,000 of its treadmills less than a month after denying they were dangerous and saying it would not pull them from the market, even though they were linked to the death of a child and injuries of 29 others. The company said Wednesday that it will now offer full refunds…
Don’t Most People Already Know?
Dear Dave, You talk a lot about budgeting, and how important it is in getting control of your money. But don’t most people already have a good idea of what they’re spending, and how much they have in the bank, without going through all the time and trouble of developing an actual budget? Carter Dear…
Rising Food Prices and Operating Costs Are Plenty for Farmers’ Plate
Canada’s agriculture sector is grappling with soaring demand, rising costs, and a worker shortage while also facing pressure to reduce its carbon footprint.
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