Ride-hailing service Uber is planning to enter the car rental market in the United States, allowing people to hire cars from owners in select cities. The Carshare rental program was announced by Uber on Thursday. The program will provide a platform where car owners can list their vehicles and rent them out to borrowers at…
US Applications for Jobless Benefits Highest Since October 2021
The number of Americans applying for unemployment benefits last week rose to its highest level since October 2021, but the labor market remains one of the healthiest parts of the U.S. economy. The Labor Department reported Thursday that U.S. applications for jobless claims were 261,000 for the week ending June 3, an increase of 28,000…
Wind Knocked out of New Zealand Flatulence Tax as Opposition Withdraws Support
June 8, 2023
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Asia & PacificAustraliaBusiness & Marketsclimate change policyEnvironmentInternationalNew ZealandSciencetaxWorldzero emissions
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The world-first flatulence tax appears to have been derailed after the main opposition party in New Zealand pulled its support for the legislation. The National Party has said it will no longer support the He Waka Eke Noa, a partnership between agriculture leaders and the government that proposes farmers individually calculate and pay for their…
Tucker Carlson’s Lawyer Responds to Fox News Contract Breach Allegations
A lawyer for Tucker Carlson issued a response after reports claimed that Fox News sent a letter accusing him of violating his contract by launching his own Twitter show this week. “Fox defends its very existence on freedom of speech grounds. Now they want to take Tucker Carlson’s right to speak freely away from him…
Britain’s Daily and Sunday Telegraph Put up for Sale After Bank Runs out of Patience
June 8, 2023
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Barclay brothersBusiness & MarketsCompaniesDaily TelegraphLloyds Banking GroupMedia & Big TechUKWorld
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A traditionally conservative newspaper group has been put up for sale after the Bank of Scotland—owned by the Lloyds Banking Group—ran out of patience with its owners over a £1 billion debt. The Daily Telegraph, its Sunday sister paper, and The Spectator magazine will now be sold to the highest bidder after the failure of…
A Century of Progressive Taxes: Targeting the Rich but Hitting the Middle Class and Poor
Economist Arthur Laffer’s newly published analysis of America’s 110-year history of income taxes is rife with paradoxes; among them, that the higher the tax rates that the U.S. government imposes on the rich, the smaller the share of taxes the rich pay compared to everyone else. Or put another way, the more the government attempted…
S&P 500, Nasdaq Open Higher as Jobless Claims Rise
The S&P 500 and Nasdaq opened slightly higher on Thursday as Treasury yields slipped after data showed weekly jobless claims rose more than expected, countering some concerns about further interest rate hikes. The Dow Jones Industrial Average fell 8.04 points, or 0.02 percent, at the open to 33,656.98. The S&P 500 opened higher by 1.17…
‘Eco-Zealots’ Drive Labour’s Energy Policy, Says Sunak
Labour’s energy policy is written by “eco-zealots” who are leading Britain into an energy surrender, Prime Minister Rishi Sunak has said. The Conservative Party leader accused his counterpart Sir Keir Starmer of allowing the Just Stop Oil group, that stages disruptive protests, to affect Labour’s policies. “Not content with disrupting our summer and cherished sporting…
Airline Profitability Strengthens This Year Despite Economic Slowdown
Global airline industry profitability surges in 2023, with net profits expected to reach $9.8 billion this year, more than double the $4.7 billion forecast in December, according to the International Air Transport Association’s (IATA) projection on June 5. Stronger profitability is attributed to factors such as increased cargo revenues, the reopening of China, and lower jet fuel…
20-Nation Eurozone Economy Falls Into Technical Recession
The 20-nation eurozone economy fell into a technical recession in the first three months of 2023, according to data from the European statistics agency Eurostat, published June 8. Eurozone gross domestic product (GDP), seasonally adjusted, dropped by 0.1 percent in the first quarter compared with the fourth quarter of 2022, according to revised data. In the fourth quarter…
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