Commentary This week, one of the world’s foci must be the potential U.S. government default on its debt. In most circles, this continues to progress as if we have never encountered such a situation before. But this might not be true. According to Terry Zivney and Richard Marcus of The Financial Review, “Investors in T-bills…
US Default Might Not Be as Shocking as Expected
May 25, 2023
admin
Business & MarketsBusiness ColumnistsChina Newsdebtdebt ceilingHong KongOpinionU.S. economyViewpoints
0 Comment
Energy Bills to Fall From July After Cut to Ofgem’s Price Cap
Household energy bills in the UK will fall from July after the energy regulator lowers its price cap from the current £3,280 per year to £2,074. Ofgem said the £1,206 reduction to the cap—which will come into effect on July 1—reflects recent falls in wholesale energy prices. The price cap has rocketed from £1,162 a…
Euro Slips as Germany Enters Recession, Dollar Hits 2-month Peak
LONDON—The euro dropped on Thursday as Europe’s largest economy Germany was confirmed to be in a recession, while the dollar hit a two-month peak, benefitting from safe-haven demand as worries mounted about a U.S. default. The latest concern was raised by ratings agency Fitch, who put the United States’ “AAA” debt ratings on negative watch,…
Oil Eases as Russia Downplays Additional OPEC+ Cuts
LONDON—Oil prices fell on Thursday after Russian Deputy Prime Minister Alexander Novak played down the prospect of further OPEC+ production cuts at its meeting next week. Brent crude futures was down 41 cents, or 0.5 percent, to $77.95 a barrel at 0815 GMT. U.S. West Texas Intermediate crude (WTI) fell 51 cents, or 0.7 percent,…
Stock Market Today: World Shares Decline on Worries Over US Debt; Germany Slips Into Recession
May 25, 2023
admin
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsstocks
0 Comment
World shares declined Thursday as investors watched for signs of progress on a deal to avert a default on U.S. government debt. U.S. futures were mixed and oil declined. Germany slipped into recession as its economy contracted 0.3 percent in the first quarter of the year. The data from the Federal Statistical Office showed a…
Telecoms Company Avid Sued by 49 States Over ‘Billions of Illegal Robocalls’
Attorneys general from 49 U.S. states are suing telecommunications company Avid Telecom, claiming the firm is “initiating and facilitating billions of illegal robocalls to millions of people.” The lawsuit (pdf) was filed on May 23 in the U.S. District Court for the District of Arizona, where Avid Telecom is headquartered. Defendants in the suit are listed…
EU Seeks Top Court Backing in $14 Billion Tax Fight Against Apple
LUXEMBOURG—EU competition regulators appealed to the bloc’s highest court on Tuesday to override a lower tribunal and make Apple pay a record 13 billion euros ($14.3 billion) in Irish back taxes. The case, which has far-reaching implications for corporate tax bills, is the most high-profile of EU antitrust chief Margrethe Vestager’s campaign against sweetheart deals…
Apple Inks Multi-Billion-Dollar Deal With Broadcom for US-Made Chips
Apple Inc. on Tuesday said it has entered a multi-billion-dollar deal with chipmaker Broadcom Inc. to use chips made in the United States. Under the multi-year deal, Broadcom will develop 5G radio frequency components with Apple that will be designed and built in several U.S. facilities, including Fort Collins, Colorado, where Broadcom has a major…
Peloton the Rebrand: High End Exercise Bike Maker Says It’s Now a Health Company for All
Peloton is undergoing a significant rebrand, dumping its identity as a seller of luxury exercise bikes and equipment to heath technology for all. “We’re shifting perceptions from in-home to everywhere, fitness enthusiasts to people at all levels, exclusivity to inclusivity across all Peloton members present and future,” Chief Marketing Officer Leslie Berland said in a…
Accenture Secures Up to $2.6 Billion Contract to Modernize IRS Systems
An Accenture Plc. unit said on Wednesday it had secured an up to $2.6 billion deal with the Internal Revenue Service (IRS) for modernizing the government tax agency’s systems. Accenture Federal Services said it had been awarded the contract for seven years, adding that it will have to compete for future orders to support the…
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta