Tesla Inc. Chief Executive Officer Elon Musk said on Tuesday the automaker would probably pick a location for a new factory by the end of this year. When the Wall Street Journal’s Thorold Barker asked Musk at an event if India was interesting, he said, “Absolutely.” Tesla is “serious” about its plans to establish a…
Australia Has 41,000 Modern Slaves: Report
Australia currently has around 41,000 modern slaves, which is twice the figure recorded five years ago, a human rights report has shown. Walk Free, an international human rights group based in Perth has released the 2023 Global Slavery Index, raising the alarm about the state of modern slavery worldwide. Modern slavery refers to situations in…
Dollar Steady as Debt Ceiling Worries Weigh; Pound Swings After Inflation Data
SINGAPORE/LONDON—The dollar on Wednesday held just shy of a two-month high as U.S. debt ceiling negotiations dragged on, while the pound firmed and then softened after stronger-than-expected British inflation data. Also in focus was the New Zealand dollar, which dived 1.8 percent after the country’s central bank flagged an end to rate hikes. The dollar…
Oil Prices up After Bullish Saudi Comments
LONDON—Oil prices rose on Wednesday following a warning from the Saudi energy minister to speculators raised the prospect of further OPEC+ output cuts. Brent crude futures rose $1.09, or 1.42 percent, to $77.93 a barrel by 1048 GMT, while U.S. West Texas Intermediate crude (WTI) gained $1.14, or 1.56 percent, to $74.05 a barrel. Saudi…
Stocks Slide on US Debt Ceiling and Inflation Woes
LONDON—Stocks lurched downwards on Wednesday as U.S. debt ceiling negotiations dragged on without resolution, stoking a general malaise in markets that saw safe haven assets like the dollar and gold hold near recent highs. The New Zealand dollar meanwhile tumbled after the central bank caught markets off-guard by flagging that its tightening cycle is over….
COVID-19 the Scapegoat for Andrew’s $171 Billion Debt
May 24, 2023
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AustraliaBusiness & MarketsCCP Virusdaniel andrewseconomic policiesInternationalOpinionstate debtvictoriaViewpointsWorld
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Commentary Victorians will be paying for the financial mismanagement of the Daniel Andrews government for at least the next decade. This week’s state budget revealed the massive cost of the government’s failings for families, workers, and businesses. Worse, the government had revealed no credible plan to bring the vast debt under control. Victoria’s net debt…
Meta Sells Giphy for $53 Million to Shutterstock After UK Blocked GIF Platform Purchase
WASHINGTON—Shutterstock said Tuesday it’s buying Giphy from Meta Platforms for $53 million, the final step to unwind the deal blocked by British regulators, who prevented the Facebook owner from purchasing the GIF-sharing platform over competition concerns. The stock image service said it’s paying cash for Giphy, which has 1.7 billion daily users and partners including…
Elon Musk Signals Twitter’s Headquarters May Not Stay in San Francisco
May 24, 2023
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Business & MarketsCaliforniaCompaniesheadquartersMuskNorthern CaliforniaRegional & State NewsState NewsTechTech NewsTwitterUSUS News
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SAN FRANCISCO—Twitter might not keep its headquarters in San Francisco forever, its owner Elon Musk signaled Tuesday. Speaking virtually at the Wall Street Journal’s CEO Council Summit in London, Musk gave a noncommittal answer to an interviewer’s question about whether the company will stay in the California city. San Francisco officials announced last week they…
Target Removes Controversial Kids LGBT Products From All Stores After Boycott Threats
Target has removed a range of controversial LGBT-themed children’s products from all of its U.S. stores and online after calls to boycott the retailer spread on social media. The retail giant cited employee safety concerns and angry backlash in some stores as motivating the move. It comes after calls spread on social media to boycott…
The Victorian State Budget Targeting Big Business, Housing Investors and Private Schools
May 24, 2023
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AustraliaBusiness & Marketsbusiness and private schoolseconomic policieshuge debtinflationInvestmentpersonal financevictorian state budgetWorld
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The Victorian state government will target big business, housing investors and private schools as the main drive to collect tax revenues as outlined in its new budget report released on May 23. But despite the targeted taxes, Treasurer Tim Pallas has denied the state budget is steeped in class warfare. “Nobody’s engaging in a terminology…
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