Senator Joe Manchin (D-W.Va.) said his fellow Democrat, President Joe Biden, has staked out a “hypocritical” position in recent debates over how to raise the U.S. debt limit. Biden has repeatedly called for a so-called “clean bill” to raise the debt limit without any additional conditions on matters such as spending reforms. In an interview…
Manchin Says Biden ‘Hypocritical’ on Debt-Limit Demands
May 11, 2023
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14th amendmentBusiness & Marketsdebt limiteconomic policieseconomyExecutive BranchHeritage FoundationPoliticspresident joe bidenSenator Joe ManchinUS
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Yellen Says Congress Risks Creating a Self-Made Crisis With ‘Unthinkable’ Debt Default
May 11, 2023
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Business & Marketscongressdebt ceilingdefaultDemocratseconomic policieseconomyExecutive BranchJanet YellenMarketsPolicies & ImpactsPoliticsrecessionRepublicansUS
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Treasury Secretary Janet Yellen accused the Republican-controlled House of creating a self-made crisis over its stance on the debt ceiling. Yellen, who was attending a Group of Seven (G7) conference in Niigata, Japan, called on Congress to raise the $31.4 trillion federal debt limit to avert a U.S. government default that would trigger a global…
Disney to Combine Hulu, Disney+ Content Into ‘One-App Experience’: Bob Iger
Disney plans to combine content from Hulu with Disney+ to form a single streaming app available across the United States by the end of the year, Disney CEO Bob Iger said on May 10. Iger announced the plans during Disney’s second-quarter earnings call, describing it as a “significant step toward creating a growth business,” and…
Buyer of Failed Silicon Valley Bank Reports $9.5 Billion Profit Following Acquisition
First Citizens Bank, which bought the failed lender Silicon Valley Bank (SVB) in March, has reported a profit of more than $9 billion due to the takeover. First Citizens made a preliminary gain of $9.82 billion on the acquisition, according to the bank’s May 10 earnings release (pdf) detailing its first-quarter performance. As a result…
Jobs Growth Is Strong Until Recession Begins
May 11, 2023
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Business & MarketsBusiness ColumnistsChina NewsHong Kongjobsnonfarm payrollsOpinionrecessionViewpoints
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Commentary The latest released U.S. nonfarm payrolls continue on the upside to the surprise of the market, with a month-on-month (MoM) increase of 253,000 jobs beating expectations of 180,000 and the previous month’s 165,000. Despite the trend has been declining from 400,000 at the beginning of the year to over 200,000, which is not low…
More Ohio Families Turn to Food Banks Amid Cost-of-Living Crisis
May 11, 2023
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Business & Marketscost-of-living crisiseconomyfood banksinflationOhiopersonal financeRegional & State NewsSocial IssuesState NewsUSUS News
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Food banks across Ohio have seen a surge in demand, with some running at double capacity amid increasing food insecurity prompted in part by an end to COVID-19 pandemic-era aid, according to experts. The Mid-Ohio Food Collective, a food bank providing a free “grocery store experience” as well as nutritious meals to thousands of people is just…
Biden EPA Announces Toughest-Ever Rules for Power Plant Emissions
May 11, 2023
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Business & Marketscarbon capturecoaleconomic policieseconomyemissionsenergyEnvironmentEPAExecutive BranchPolicies & ImpactsPoliticsScienceSocial IssuesUSUS FeaturesUS News
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After weeks of buildup, the Environmental Protection Agency (EPA) unveiled its strictest-ever rules for power produced using natural gas, coal, and oil that could spur the use of carbon capture technologies. The standards released on May 11 would impact new and old power infrastructure, including new natural gas turbines and the country’s existing coal fleet….
IN-DEPTH: Biden EPA Proposes Stringent Rules for Carbon Emissions from Coal, Oil, Natural Gas Power, Boosting Carbon Capture
May 11, 2023
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Business & Marketscarbon capturecoaleconomic policieseconomyemissionsenergyEnvironmentEPAExecutive BranchPolicies & ImpactsPoliticsScienceSocial IssuesUSUS FeaturesUS News
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After weeks of buildup, the Environmental Protection Agency (EPA) finally unveiled a new suite of carbon emissions proposals for power produced using natural gas, coal, and oil that could spur the use of carbon capture technologies. The standards released on May 11 would impact new and old power infrastructure, including new natural gas turbines and…
Greens, Coalition Team up to Block Labor’s Affordable Housing Fund
May 11, 2023
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AustraliaBusiness & Marketseconomic policiesGlobal Real Estatehousing fundJacqui Lambiemax-chandler matherreal estateWorld
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The Australian Labor government’s high-profile affordable housing fund has failed to pass the Parliament’s upper house. On May 10, Labor attempted to bring a vote in the Senate for the Housing Australia Future Fund; however, the motion was shot down by the Greens and Liberal-National Coalition. As a result, debate on the housing fund will…
Microsoft Signs Power Purchase Deal With Nuclear Fusion Company Helion
Private U.S. nuclear fusion company Helion Energy will provide Microsoft with electricity in about five years, the companies said on Wednesday, in the first such deal for the power source that fuels the sun but has been elusive on Earth. Government labs and more than 30 companies are racing to generate power from fusion, which…
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