A new digital platform dedicated to promoting clean, safe, and traditional content has launched in Australia. Literally translated to “a clean world,” social media platform Gan Jing World aims to be a clean digital “ecosystem” where users can browse through content that is a “diversified, well-balanced Internet space free from violent, erotic, criminal, and harmful content.” The…
Digital Platform Focused on Clean, Traditional Content Launches in Australia
Purdue Pharma Can Protect Sackler Owners in Opioid Bankruptcy, Court Rules
NEW YORK—Bankrupt OxyContin maker Purdue Pharma can shield its owners, members of the wealthy Sackler family, from opioid lawsuits in exchange for a $6 billion contribution to the company’s broader bankruptcy settlement, a U.S. appeals court ruled on Tuesday. The New York-based 2nd U.S. Circuit Court of Appeals said that U.S. bankruptcy law allows legal…
What’s Next After House Passes Debt Ceiling Deal
May 31, 2023
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Business & Marketscongressdebt ceilingDemocratseconomic policiesExecutive BranchKevin McCarthyPolicies & ImpactsPoliticsRepublicansUS
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The U.S. House of Representatives passed bipartisan legislation to suspend the nation’s debt limit through Jan. 1, 2025, despite vocal opposition on both sides of the aisle. The Fiscal Responsibility Act, a fiscal package put together by President Joe Biden, House Speaker Kevin McCarthy (R-Calif.), and their teams of negotiators, overwhelmingly cleared the lower chamber…
Some Amazon Employees Walk out in Seattle to Protest Climate, Office Policies
SEATTLE—Some Amazon.com Inc employees staged a walkout on Wednesday in protest of the e-commerce giant’s changes to its climate policy, layoffs and a return-to-office mandate. More than 100 people gathered in the afternoon by the Spheres, the glass-dome monument at the heart of Amazon’s Seattle headquarters, according to a Reuters witness. “Emissions climbing. Time to…
‘Strive Harder’: Amazon Workers Protest Company’s Climate Impact, Return-to-Office Mandate
SEATTLE (AP) — Telling executives to “strive harder,” hundreds of corporate Amazon workers protested what they decried as the company’s lack of progress on climate goals and an inequitable return-to-office mandate during a lunchtime demonstration at its Seattle headquarters Wednesday. The protest came a week after Amazon’s annual shareholder meeting and a month after a…
Stock Market Today: Wall Street Slips as Stocks Slump Worldwide
NEW YORK—Wall Street slipped as stocks slumped worldwide Wednesday on worries about the strength of the global economy and inflation. The S&P 500 fell 25.69, or 0.6 percent, to 4,179.83. The Dow Jones Industrial Average dropped 134.51, or 0.4 percent, to 32,908.27, and the Nasdaq composite lost 82.14, or 0.6 percent, to 12,935.29. Stock markets…
Real-World Nuclear Fusion: Startup Secures Over $7 Million for Energy Machine
May 31, 2023
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Business & MarketsCompaniesenergyEuropefusion energy breakthroughnuclear fusionScienceScience NewsWorld
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A German Startup has secured millions in funding to develop a fusion energy machine that could potentially generate energy free of carbon emissions. The Munich-based startup Proxima Fusion designs fusion power plants based on the stellarator concept, with the first plant planned for sometime within the 2030s, the company said in a May 30 press release (pdf)….
Renewable Energy Pipeline Puts Targets in Jeopardy
The renewable energy pipeline is drying up after a robust start to 2023 as “headwinds” increase, the industry warns. Data released by the Clean Energy Council for the first three months of the year shows eight projects commenced construction in the quarter. Worth a total of $1.3 billion (US$845 million) in value—almost double the final three…
Corporate Profits Aren’t Fueling Inflation: Australian Treasury
The Australian Treasury Department has refuted the idea that corporate profits are worsening inflation. However, it said the mining sector played a small role in consumer price growth. During a recent Senate estimates hearing, Treasury official Sarah Hunter said the department had analysed the impact of corporate profits on inflation. “And that’s where looking at…
Closing Prices for Crude Oil, Gold, and Other Commodities (May 31)
May 31, 2023
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for July delivery fell $1.37 to $68.09 a barrel Wednesday. Brent crude for July delivery fell 88 cents to $72.66 a barrel. Wholesale gasoline for June delivery fell 4 cents to $2.56 a gallon. June heating oil fell 2 cents to $2.26 a gallon. July natural gas fell 6 cents to…
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