The latest on the Russia–Ukraine crisis, May 17. Click here for updates from May 16. Lviv Is Rocked by a Number of Loud Explosions The western Ukrainian city of Lviv has been rocked by number of very loud explosions. An Associated Press team in the city witnessed the glare of bright explosions which lit up…
Schools in Australia Threatened With Temporary Closures After Government Terminates Unvaccinated Teachers
Schools in the Australian state of Victoria are struggling with temporary closures due to staff testing positive to COVID-19 after the government terminated over 120 unvaccinated teachers in April. In one particular case, year eight students at Greater Shepparton Secondary College in the north of Victoria had to learn from home on May 16 due…
Labor Treating Medicare Like ‘Frankenstein’s Monster’: Former Howard-Era Advisor
May 16, 2022
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anthony albaneseAustraliaaustralian federal electionAustralian federal election 2022Australian Labor PartyBusiness & Economyeconomic policiesInternationalWorld
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The Labor Party is simply “throwing money” at Australia’s universal healthcare program Medicare with its near $1 billion (US$700 million) election funding pledge, which one Howard-era advisor says will do little to reform the system despite the hefty price tag. In an announcement on May 14, the centre-left Labor Party followed up its pledge to…
Australian Government Backs Queensland Universities to Supercharge Food and Beverage Manufacturing
May 16, 2022
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AustraliaBusiness & Economyfood and beverageQueensland University of TechnologytrailblazerUncategorizedUniversity of QueenslandUniversity of Southern QueenslandWorld
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The Australian government has committed $50 million (US$34.9 million) in research funding through three Queensland universities to enhance the nation’s food and beverage manufacturing potential as part of its Trailblazer program. The University of Queensland (UQ) will partner with the Queensland University of Technology (QUT) and the University of Southern Queensland (USQ), along with industry…
Stocks End Mostly Lower, Extending Losing Streak for S&P 500
NEW YORK—Stocks closed a wobbly day of trading mostly lower on Wall Street Monday, extending a losing streak for markets. The broader market is in the midst of a slump as investors try to gauge how companies and consumers are dealing with higher prices and whether central banks can help ease the problem. Major indexes…
FDA Reaches Agreement With Top Baby Formula Maker to Reopen Plant
Abbott Laboratories, the baby formula producer at the center of a nationwide shortage, said Monday that it reached an agreement with the U.S. Food and Drug Administration (FDA) to reopen its plant in Sturgis, Michigan, after it was subject to a federal investigation over alleged bacterial contamination. The company cautioned, however, that it could take…
Bernanke says the Fed’s slow response to inflation ‘was a mistake’
May 16, 2022
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Business & Economyeconomic policieseconomyFederal Reserve bankinflationU.S. InflationUncategorizedUS
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The Federal Reserve’s slow response to the global inflation crisis “was a mistake,” said Former Federal Reserve Chairman Ben Bernanke during an appearance on CNBC that aired on May 16. Bernanke said that the central bank’s slow response to inflation has allowed the crisis to escalate into one of the worst periods in financial history since the early…
McDonald’s Permanently Closes Russian Stores
McDonald’s announced on Monday that it would be permanently closing its 850 franchises in the Russian Federation, ending over three decades of engagement with the Russian market and signifying Russia’s increasing isolation from the global economic community since President Vladimir Putin’s authorization of the invasion of Ukraine. After more than thirty years of operating within…
Elon Musk Provides Update on Twitter Deal: ‘Not Out of the Question’
Elon Musk on Monday provided an update on whether he will still purchase Twitter, coming three days after he questioned the number of bot accounts on the social media platform. While speaking at the “All In” summit, Musk said that a deal for Twitter is “not out of the question” but he suggested it be at…
White House Unveils Plan to Address Housing Supply Shortages
The White House on May 16 released a new plan aimed at increasing the housing supply in America. Pillars of the plan include giving incentives to jurisdictions that allow more dense building, making it easier to build newly manufactured housing units, and exploring ways to lower the cost of items crucial for constructing homes. President…
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