Category: Business & Markets

[Premiering 6/6, 7:30PM ET] David Stockman: Debt Default, the ‘Doomsday Budget Machine,’ and Failed Fiscal Restraint Explained

June 5, 2023
American Thought LeadersbidenBusiness & MarketsBusinesses in COVID-19CCP VirusCompaniesDavid Stockmandebt ceilingdebt crisisDebt Limit BillDemocratsDonald Trumpeconomic policieseconomyEpochTVExecutive BranchFederal Reservehigh inflationHouse Majority Leader Kevin McCarthyinflationinterest ratesLive VideosMarketsMedia & Big Techpersonal financePolicies & ImpactsPoliticspublic debtRepublicansUSUS NewsVideo
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“For capitalism to work, you have to have effectively functioning, solid capital markets. And in order to do that, you need savings—real savings, not money printed by a central bank, but real savings from businesses and households,” says David Stockman, who served as budget director for President Ronald Reagan. “Back then, the public debt was 30-40…

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Spotify to Lay Off 200 Workers in Podcast Division

June 5, 2023
Business & MarketsCompanieseconomic policieseconomyEuropelayoffsspotifyWorld
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Spotify Technology SA said on Monday it would cut 200 jobs from its podcast unit in its second round of layoffs, as the company restructures the business after years of heavy investment. The move affects about 2 percent of the music-streaming giant’s workforce and aligns Spotify with the likes of Meta Platforms and Roku, which…

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Commodity Weakness Destroys the Inflationists’ Narrative

June 5, 2023
Business & MarketsBusiness ColumnistscommoditiesinflationOpinionViewpoints
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Commentary Most politicians have used the “Ukraine invasion card” to justify the massive inflationary burst in 2021–23. It does not matter if inflation was already elevated prior to the war. Supply-chain disruptions, demand recovery, wage growth… Many excuses were used to justify inflation, except the only one that can make aggregate prices rise in unison,…

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What Is a Gold IRA Custodian? Everything You Should Know

June 5, 2023
Business & MarketsgoldGold and CommoditiesGold IRAIRAMarketsSponsored Content
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If you’re interested in investing in a gold-funded individual retirement account (IRA), you’ve likely stumbled upon the restrictions, fees, and requirements surrounding custodians. So, what is a gold IRA custodian, why do you need one, and how can you select a reputable option for your investment goals? Read on to learn everything you need to…

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Wall Street Opens Muted as Investors Weigh Chances of June Rate Pause

June 5, 2023
Business & MarketsCompanieseconomic policieseconomyinflationMarketsstocksUS
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Wall Street’s main indexes opened subdued on Monday after a solid rally last week, as investors assessed chances of the Federal Reserve pausing interest rate hikes at its upcoming policy meeting. The Dow Jones Industrial Average rose 8.37 points, or 0.02 percent, at the open to 33,771.13. The S&P 500 opened higher by 0.62 points,…

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Labour Leader Reassures Oil and Gas Needed for ‘Many Years to Come’

June 5, 2023
Business & MarketsenergyKeir Starmernet zerorenewablesUKWorld
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Oil and gas will be necessary for “many, many years” to come, Labour Leader Sir Keir Starmer has said following criticism from trade unions that his energy plans will hit jobs. Two major trade unions have expressed concerns after media reports suggested that Labour would promise to halt new oil and gas production in the…

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Brands Roll Out Pride Collection Nationwide Despite Consumer Backlash

June 5, 2023
Business & MarketsCompanieseconomypride merchandisePride MonthSocial IssuesUSUS News
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Many American and international brands have kicked off Pride Month promotions despite a consumer backlash against firms like Target and Anheuser-Busch for pushing transgenderism. Mega brands like Citi, Bank of America, Cisco, HP, and Pfizer have all changed their social media icons to pride-themed logos. Promotions include new LGBTQ-themed product ranges, messaging and donations to…

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Dollar Edges Up as Markets Weigh Chances of Fed Rate Hike

June 5, 2023
Business & Marketseconomic policieseconomyForexglobalMarketsstocks
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LONDON—The dollar edged up against major peers on Monday, as markets priced in around a 1-in-4 chance of the U.S. Federal Reserve raising benchmark rates this month after robust jobs data on Friday. The dollar index—which tracks the greenback against six peers—came off the boil last week, after some Fed officials voiced a preference for…

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Oil Rises on Saudi Plan to Deepen Output Cuts From July

June 5, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesMarketsOilstocks
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LONDON—Oil prices rose by more than $1 a barrel on Monday after top crude exporter Saudi Arabia pledged to cut production by a further 1 million barrels per day (bpd) from July to counter macroeconomic headwinds that have depressed markets. Brent crude futures were up $1.72, or 2.3 percent, at $77.85 a barrel by 0900…

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Shares Stroll Higher on June Hike Hiatus Hopes

June 5, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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SYDNEY/LONDON—Shares rose and the dollar firmed on Monday as investors bet the Federal Reserve would pause its rate hikes this month after a mostly encouraging U.S. jobs report, while oil prices jumped after Saudi Arabia pledged big output cuts. The benchmark European STOXX index climbed 0.18 percent in early trading, led by gains in the…

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