After Tucker Carlson’s sudden exit from Fox News, the network suffered a loss in ratings on Monday night. The network’s 8 p.m. hour had a noticeably smaller audience on Monday night, according to the Hollywood Reporter. The debut of a replacement program, “Fox News Tonight” that was hosted by Brian Kilmeade, pulled in 2.6 million viewers,…
Money Supply Shrinks at Fastest Pace Since Great Depression
The Federal Reserve recorded its fourth consecutive monthly contraction in the money supply as the central bank continued to remove money from the financial system. In March, the M2—a measurement of money in circulation that includes cash, checking deposits, and a wide range of other deposits—declined 4.05 percent, down from negative 2.3 percent in February….
Disney Sues Gov. DeSantis for ‘Government Retaliation’
On Wednesday, Walt Disney Parks and Resorts sued Republican Florida Gov. Ron DeSantis and his hand-picked oversight board. According to the complaint (pdf), filed in the United State District Court for the Northwestern District of Florida, the theme park giant is accusing the potential 2024 presidential candidate of engaging in “a targeted campaign of government…
Green Energy Transition Will Keep Inflation High, Norway’s Oil Fund Chief Warns
Climate change will keep inflation stubbornly high and result in low investment returns for an extended period, said Nicolai Tangen, the head of Norway’s $1.3 trillion oil fund. Tangen told the Financial Times on April 25 that “inflation is going to be tough to get down,” alluding to a multitude of factors, such as rising…
IN-DEPTH: Manchin Vows to Stop Biden’s ‘Radical Climate Agenda’
Sen. Joe Manchin (D-W.Va.) on Tuesday accused the Biden administration of ignoring domestic energy security provisions in the Inflation Reduction Act (IRA) and pledged to do everything in his power to push back against the administration’s “radical climate agenda.” “The Biden administration is breaking its word to the American public by ignoring the text of…
IN-DEPTH: Job Creation, Budget Accounting Questioned in Massive Subsidies Given to VW
News Analysis One of Ottawa’s biggest selling points for its record subsidy to Volkswagen—which could top $13 billion—is the potential creation of tens of thousands of jobs. But leading public policy expert Jack Mintz is highly skeptical and also questions how the feds project to cover the cost of the new gigafactory in under five…
Tucker Carlson Issues First Public Comments Since Fox News Exit
Former Fox News host Tucker Carlson issued his first public comments since it was announced that he would be departing the network earlier this week, appearing outside his home in Florida with his wife. “Retirement is going great so far,” he joked to the Daily Mail, which published photos of him and his wife outside…
Wall Street Opens Higher on Upbeat Microsoft, Boeing Results
Wall Street’s main indexes opened higher on Wednesday as strong results from Microsoft and positive cash-flow forecast from Boeing offset concerns over rising interest rates and their effect on the U.S. economy. The Dow Jones Industrial Average rose 65.51 points, or 0.20 percent, at the open to 33,596.34. The S&P 500 opened higher by 16.15…
US Regulators Say They Already Have Power to Crack Down on AI Misuse, Warn Firms to Comply With Laws
A number of federal government agencies said on April 25 that they have the power to prevent unlawful “bias in algorithms and technologies” marketed as artificial intelligence (AI). In a joint statement, four federal agencies —The Civil Rights Division of the United States Department of Justice, the Consumer Financial Protection Bureau (CFPB), the Federal Trade…
Swedish Crown Softens After Market Sees Riksbank Dovishness, Euro Rebounds
LONDON—The Swedish crown weakened sharply on Wednesday after the country’s central bank was less hawkish than expected, while the euro rebounded from losses a day earlier when jitters about the U.S. banking sector helped the safe-haven dollar. The euro rose as much as 1.05 percent against the crown to 11.426, set for its biggest one-day…
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