Mexico has become the largest trading partner of the United States, surpassing China and Canada, according to the latest statistics released on July 12. The trade volume between the United States and Mexico reached $263 billion in the first four months of this year, said Luis Torres, a senior business economist at the Federal Reserve…
Mexico Replaces China as America’s Top Trade Partner, While China’s Foreign Trade Continues to Decline
July 14, 2023
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Asia & PacificBusiness & MarketsChinaChina Business & EconomyChina NewsChinese RegimeeconomyMexicotrade partnerUS-Canada-Mexico Trade AgreementWorldWTO
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Twitter Seeks Termination of FTC Order Over Data Practices
Twitter asked a U.S. court on Thursday to terminate a consent order with the Federal Trade Commission that governed the social media company’s data privacy protections, arguing that the regulatory agency has made “unceasing demands.” In a filing with U.S. District Court in San Francisco, Twitter accused the FTC of bias and overreach, saying it…
Office Space: More Trouble
Commentary Commercial real estate faces increasing headwinds. Delinquency rates, especially for office buildings, have spiked and show signs of climbing still higher. Both developers and lenders are set to lose. The pain is passing through to those who hold bonds backed by commercial mortgages, the so-called commercial mortgage bond securities (CMBS). There is little sign…
Strong Big Bank Earnings Lift Wall Street at Open
Wall Street’s main indexes opened higher on Friday after three of the country’s top lenders including JPMorgan Chase and Wells Fargo commenced second-quarter earnings for big U.S. banks on a strong note. The Dow Jones Industrial Average rose 30.19 points, or 0.09 percent, at the open to 34,425.33. The S&P 500 opened higher by 4.57…
IN DEPTH: America Needs to Rebuild Its Manufacturing Power to Outplay the CCP: China Scholar
July 14, 2023
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Business & MarketsChinese economyde-riskingdecouplingeconomic policieseconomyPolicies & ImpactsreindustrializationUSUS Features
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To cut dependency on the Chinese economy, the United States needs to base its policies on “two pillars”: economic containment of communist China and rebuilding the industrial power in the United States, said Jonathan Ward, a China scholar and founder of the Atlas Organization. American policy toward communist China was guided for decades by the…
Twitter to Offer Ad Revenue Share to Select Content Creators
Twitter said on Thursday that select content creators on the social media platform will be eligible to get a part of the advertising revenue the company earns. The content creators will get a share of revenue from ads displayed in their replies, Twitter said, adding that to be eligible the creators should be verified users…
Private-Equity Firms Are Buying Out Medical Practices and Raising Prices for Americans: Study
July 14, 2023
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American Medical AssociationantitrustBusiness & MarketsCompanieseconomic policieseconomyhealthcareInvestmentMarketsPolicies & ImpactsPrivate Equityprivate medical practiceSocial IssuesUSUS News
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Private-equity firms have been buying up individual physician practices at a rapidly increasing rate over the past decade and raising prices for millions of Americans, according to a study released this week. The rise in acquisitions by investor groups of market share in the health care industry are leading to higher treatment costs, the study showed. When private…
Small-Business Optimism Rises, but Inflation Concerns Remain Persistent
July 14, 2023
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Business & MarketsCompanieseconomic policieseconomyinflationInvestmentlabor marketMarketsPolicies & Impactssmall business optimismSmall BusinessesUSUS News
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American small-business confidence slightly climbed to a seven-month high last month, but concerns about inflation remain persistent, according to a recent report. Pessimism over the U.S. economy diminished sharply, while sales expectations improved, but a persistently tight labor market is continuing to concern analysts about future inflation rates. The National Federation of Independent Business (NFIB)…
Dollar Near 15-month Low as Easing US Inflation Fuels Rate Peak Bets
LONDON/SINGAPORE—The dollar hovered near a 15-month low on Friday and was set for its biggest weekly decline since November after softening U.S. inflation data fuelled investors’ bets that the Federal Reserve was close to the end of its rate hike cycle. U.S. producer prices barely rose in June and the annual increase in producer inflation…
Sam Bankman-Fried Attorneys Ask Judge to Remove Security Measures for ‘Close Friends’ Visiting
Lawyers for Sam Bankman-Fried on July 13 asked the judge overseeing his criminal prosecution to allow “close friends and colleagues” of the former FTX founder’s parents to visit him at his home without a security guard having to be present or conduct security checks. Mr. Bankman-Fried was extradited to the United States from the Bahamas in…
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