Joseph Borrell, head of foreign affairs and security for the European Union, has backed the idea that the EU should seize frozen Russian assets in order to pay for the rebuilding of Ukraine. Borrell indicated he would support such measures during an interview with The Financial Times and he compared the situation to what the United…
EU Should Seize Russian Assets to Rebuild Ukraine, Top Diplomat Indicates
Australian Opposition Promises to Partner with South Australia to Tackle Ambulance Ramping
May 9, 2022
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The Australian Labor Party has promised to partner with the South Australian Labor government to expand Adelaide’s health capacity to tackle the city’s ambulance ramping crisis if elected in the upcoming May 21 federal election. Under the partnership, a $400 million (US$283 million) expansion of Flinders Medical Centre, with 160 new beds for the south…
US Corporate Earnings Forecasts Weaken As Companies Review Inflation Risks
U.S. corporate growth expectations for the second quarter of 2022 are beginning to show signs of decline as the cost of energy, goods, and interest rates continue to rise, say economists. With companies reviewing data from their first quarter earnings reports, analysts at the end of last week lowered their overall forecast for S&P 500…
Housing Bubble 2.0? Correction Fears Intensify as Price, Median Income Gap Widens
The U.S. economy is currently experiencing the hottest real estate market on record, S&P/Case-Shiller U.S. National Home Price Index data show. In February, home prices surged more than 19 percent year-over-year, with the average residential property selling close to $300,000. The last time the U.S. real estate market recorded such exceptional growth was during the…
IRS Battling Backlogs Caused by Pandemic Relief Payments, Staff Shortage
May 9, 2022
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The tax season of 2022 has been quite chaotic for the Internal Revenue Service due the “significant challenges,” including staffing shortages and backlogs of tax returns. Because of the pandemic, the IRS faced an unprecedented amount of work during the 2021 filing season. The agency started this year with a backlog of more than 8.4…
‘No New Investment in Fossil Fuel Expansion’: UN Chief
May 9, 2022
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Antonio Guterres, current head of the United Nations and former president of Socialist International, has asserted there must be “no new investment in fossil fuel expansion” and that private finance must totally divest from coal. “For too long, the financial services sector has enabled the world’s fossil fuel addiction. It is now time for financial…
Amid High Living Costs, the Party With Policies ‘Closer to Reality’ Will Win Next Ontario Election: Affordability Advocate
With rampant inflation and high fuel prices, the party with policies closest to addressing the realities of rising affordability issues will triumph in the upcoming Ontario election, says former Liberal MP Dan McTeague. McTeague, now president of Canadians for Affordable Energy, said that the pocketbook issues have become “extraordinarily important” and “extraordinarily pressing” for all…
Amid High Living Costs, the Party With Policies ‘Closer to Reality’ Will Win the Ontario Election: Affordability Advocate
With rampant inflation and high fuel prices, the party with policies closest to addressing the realities of rising affordability issues will triumph in the upcoming Ontario election, says president of Canadians for Affordable Energy Dan McTeague. McTeague, a former Liberal MP, said pocketbook issues have become “extraordinarily important” and “extraordinarily pressing” for all levels of government…
Wall Street’s Losses Worsen as Markets Tumble Worldwide
NEW YORK—Stocks racked up more losses on Wall Street Monday, leaving the S&P 500 at its lowest point in more than a year. The sell-off came as renewed worries about China’s economy piled on top of global financial markets already battered by rising interest rates. The S&P 500 gave up 3.2 percent, adding to its…
Quanta Factory Workers in Shanghai Skirmish With Local Authorities Over Pandemic Lockdown Rules
May 9, 2022
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Over a hundred workers at a plant that produces electronic equipment for Apple and Tesla in the Songjiang district of Shanghai defied CCP quarantine officials and factory guards on May 5, after suffering from weeks of severe pandemic-related lockdowns. Tensions finally reached a boiling point with workers at Quanta Shanghai Manufacturing City in Shanghai over…
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