Category: Business & Economy

UK Unemployment Rate Falls to Lowest in 48 Years but ‘Bumpier Ride’ Ahead

May 17, 2022
Boris JohnsonBusiness & EconomyCCP ViruseconomyinflationjoblessRishi SunakUKunemploymentWorld
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The UK’s unemployment rate has dropped to the lowest level in 48 years, but experts say it could well be “the calm before the storm” and the economy may face a “much bumpier ride” ahead. According to the latest data from the Office for National Statistics (ONS), the rate of unemployment dropped to 3.7 percent…

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Elon Musk: Twitter Deal ‘Cannot Move Forward’ Until Bot Data Clarified  

May 17, 2022
Business & EconomyCompaniesElon MuskInvestmentMarketsMedia & Big TechTwitterUSUS News
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Twitter shares tumbled again after Elon Musk said that his $44 billion purchase of the social media platform “cannot move forward” until there is more clarity on the website’s spam bots. “My offer was based on Twitter’s SEC filings being accurate,” Musk wrote on Twitter Tuesday. “Yesterday, Twitter’s CEO publicly refused to show proof of <5%….

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Woodside Sees Slim Risk of Big Share Selloff by BHP Investors

May 17, 2022
AustraliaBusiness & EconomycommoditiesCompaniesMarketspetroleumWorld
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MELBOURNE—Woodside Petroleum does not expect heavy selling of the company’s shares by BHP Group investors if Woodside’s acquisition of BHP’s petroleum business goes ahead in June, Chief Executive Meg O’Neill said on Tuesday. Woodside shareholders are set to vote on Thursday on a $40 billion merger to create a top 10 global independent oil and…

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Food Price Rises Caused by Ukraine War ‘Major Worry’ for World: Bank of England Governor

May 17, 2022
Andrew BaileyBank of EnglandBusiness & EconomyeconomyEuropefood pricesinflationRussia-Ukraine WarRussian Invasion of UkraineUKWorld
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The potential for further food price rises is a “major worry” for the UK and the developing world, the governor of the Bank of England, the UK’s central bank, has warned. Appearing before the Treasury Select Committee of the House of Commons on May 16, Andrew Bailey said that the Russian invasion of Ukraine has…

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Tesla Halts Orders of Cybertruck Outside North America Amid Increased Demand

May 17, 2022
Business & EconomyCompaniesCybertruckeconomyInternationalteslaUSUS NewsWorld
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Tesla is no longer taking orders for its upcoming and highly-anticipated Cybertruck pickup truck outside of North America, according to its official website. Up until recently, the Cybertruck, which will be built at Tesla’s new Gigafactory in Austin, Texas, could be ordered in Europe and Asia. However, as of this week, the electric vehicle maker is now only taking reservations…

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Sri Lanka Has Only 1 Day of Petrol Stocks Left, Says New Prime Minister

May 17, 2022
Asia & PacificBusiness & EconomyChinaChinese Regimeeconomic policieseconomyInternationalSri LankaWorld
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Sri Lanka has only enough petrol for one day and urgently needs $75 million in foreign exchange to pay for essential imports within the next couple of days, the country’s new prime minister said on Monday. “At the moment, we only have petrol stocks for a single day,” Prime Minister Ranil Wickremesinghe said in a…

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Australian Voters ‘Gearing for Change’ From Major Parties Post-COVID: Live Streamer

May 17, 2022
Australiaaustralian federal electionAustralian federal election 2022Business & EconomyCCP Viruseconomic policiesInternationalMELBOURNERukshan FernandovictoriaWorld
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Two years of government-mandated lockdowns has left a permanent mark on how suburban and regional Australians approach elections, with voters disillusioned with the major parties and keen for change, according to live streamer Rukshan Fernando. Fernando was a permanent fixture during months-long protests against COVID-19 regulations in Melbourne in 2021. His live streams of the…

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Labor Commits $1.5 Billion to Domestic Medical Manufacturing

May 17, 2022
anthony albaneseAustraliaAustralian federal election 2022Australian Labor PartyAustralian Prime Minister Scott MorrisonBusiness & Economyeconomic policieseconomyhealthcareWorld
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Australian Labor party’s leader Anthony Albanese has announced his plan to create a new $1.5 billion (US$105 billion) fund to secure Australia’s medical goods supply chains. The money would be used to boost domestic medical manufacturing capability, such as creating medical technologies, producing rapid antigen tests, and creating vaccines. The investment, which is part of Labor’s…

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New Zealand Government to Use Emission Trading Scheme to Fund EV Rollout

May 17, 2022
Asia & PacificAustraliaBusiness & Economyclimate changeeconomic policieseconomyelectric vehicleJacinda ArdernNew ZealandWorld
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New Zealand families will be encouraged to scrap their old vehicles in exchange for low-emission alternatives under the government’s Emissions Reduction Plan, with more details to be revealed when the 2022 budget is released. “This is a landmark day in our transition to a low emissions future,” Prime Minister Jacinda Ardern said. “This is a…

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California Judge Strikes Down Law Forcing Companies to Appoint Women to Corporate Boards

May 17, 2022
Business & EconomyCaliforniaCompaniesdiscriminationJudicial WatchJudiciaryLocal NewsNorthern CaliforniaPacific Legal FoundationPolicies & ImpactsRegional-Local NewsShirley WeberSouthern CaliforniaUSUS News
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A California judge struck down as unconstitutional the state’s law forcing publicly held corporations headquartered in California to meet a quota of board members who self-identify as women or face fines. Los Angeles County-based California Superior Court Judge Maureen Duffy-Lewis ruled (pdf) May 13 in Crest v. Padilla that the state law known as SB…

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