NEW YORK—Stocks slid Tuesday as the U.S. government crept closer to the edge of a potentially disastrous default on its debt. The S&P 500 fell 1.1 percent after House Speaker Kevin McCarthy said, “We’re not there yet” on a deal to prevent the U.S. government from running out of cash. That followed a meeting late…
Growing Number Calls for Boycott Target Over LGBT Clothes for Kids
Calls to boycott Target have spread on social media after the retailer released another line of LGBT clothing for kids, including for newborn children. According to Target’s website, it recently released its so-called “Pride Collection” for 2023, including onesies for infants that feature pro-LGBT content coming in sizes of zero to three months. One onesie…
Growing Number Calls for Boycott Target Over LGBT Clothes for Children
Calls to boycott Target have spread on social media after the retailer released another line of LGBT clothing for kids, including for newborn children. According to Target’s website, it recently released its so-called “Pride Collection” for 2023, including onesies for infants that feature pro-LGBT content coming in sizes of zero to three months. One onesie…
Corporate Bankruptcies Are Soaring; 2023 Filings Highest Since 2010
The most recent data from S&P Global show that corporate bankruptcies are picking up again. More than 230 companies have filed for bankruptcy through the end of April, more than double the comparable figure a year ago. UBS also found in a recent study that bankruptcies worth $10 million or more had jumped to an…
UK Government Borrowing Surges Aim High Inflation
The UK’s public sector net borrowing rose to £25.6 billion last month, the second-highest April borrowing on record. It’s 14 percent higher than the Office for Budget Responsibility’s (OBR) estimate (£22.4 billion) and over 85 percent higher than borrowing in the same month last year (£13.7 billion). The figure is also the sixth highest since monthly records…
Trump Targets Fox’s Laura Ingraham Over ‘Hit Piece’ on His Poll Numbers
May 23, 2023
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2024 electionBusiness & MarketsCompaniesDonald TrumpFox NewsLaura IngrahamMedia & Big TechPoliticsRepublican CandidatesUSUS News
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Former President Donald Trump accused Fox News host Laura Ingraham of running a “hit piece” on him by focusing on his poll numbers compared with prospective 2024 presidential candidate Florida Gov. Ron DeSantis. Trump was critical of Ingraham, who has been mostly supportive of him, after her 10 p.m. Monday show. The criticism is part…
State Treasurers Demand Answers on How Asset Managers Vote Their Pension Shares
May 23, 2023
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Business & MarketsESGInvestmentpersonal financestate financial officersstate pension fundsstate treasurers
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Amid claims of “a historic breach of fiduciary duty,” by some of Wall Street’s top firms, state treasurers issued a letter last week to 20 of America’s largest asset managers, demanding an accounting of how they have voted the state employees’ corporate shares that they control. In a May 15 Wall Street Journal op-ed, the…
Interest Grows in Orange County Foreign Trade Zone
May 23, 2023
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Business & Marketsforeign trade zonemanufacturingNew YorkOrange County NYRegional & State NewsState Newssteven grossUS
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A growing number of companies are showing interest in the foreign trade zone since Orange County rekindled marketing efforts months ago, according to economic development director Steven Gross. One timber production company in Broome County just made an application to join the zone. Another food manufacturing company in Port Jervis is considering making its space…
Senators Take Aim at Official Research That Supports Australia Not Going Nuclear
Official research from Australia’s CSIRO used to support the claim that nuclear is “the most expensive” form of energy has been criticised by Coalition senators. It comes after federal Labor Energy Minister Chris Bowen posted a video on social media lambasting nuclear as a viable option for Australia’s energy needs, citing the CSIRO’s 2019-20 GenCost report….
Are Investors Underestimating Probability of Even Higher Rates?
Commentary Most investors and Wall Street research analysts believe the Federal Reserve will pause its hikes, keeping the benchmark interest rate unchanged, in June and that a rate cut is likely later in the year. Just take one look at the yield curve. It is still inverted with the one-month rate higher than the six-month…
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