SINGAPORE/LONDON—The yen was under pressure against most other major currencies on Wednesday, even as Japanese authorities said they could intervene to prop it up, while the Aussie dollar dropped after data showed inflation eased in May. Market expectations that the Bank of Japan (BOJ) will keep interest rates ultra-low, while other central banks tighten monetary…
European Shares Climb, Yen Stumbles and Euro Shines
June 28, 2023
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LONDON/SYDNEY—European shares climbed on Wednesday as surprisingly upbeat U.S. economic news eased global growth concerns, while the embattled yen hit a 15-year low against the euro and Japan hinted at intervention to prevent further losses. Treasury yields inched higher on the strength of U.S. data, combined with hawkish commentary emerging from Portugal at a gathering…
New York Drivers to Be Charged to Enter Lower Manhattan in 2024
June 28, 2023
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Business & Marketsdriverseconomic policiesHochulManhattanNew YorkNY NewsNY Politicspersonal financeRegional & State NewsState NewsUSUS News
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Drivers in New York City will soon be charged to enter Manhattan, marking a win for environmental activists who say the move will help reduce congestion and improve air quality, but raising concerns over the impact on business owners, including taxi drivers. Announcing the news in a June 27 press release, Gov. Kathy Hochul, a Democrat,…
AI Is a High and Important Priority: Australian Financial Market Regulator
June 28, 2023
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AI regulationsartificial intelligenceartificial intelligence (AI)AustraliaBusiness & Marketsfinancial marketsTechWorld
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Australia’s corporate regulator has placed at the top of its agenda the regulation of artificial intelligence development in the financial markets amid the “new and different ” risks attached to the quickly evolving technology, partly driven by the fear of being “left behind”. In a recent speech at a financial markets forum, Australian Securities and…
New Zealand PM Meets CCP Leader Xi Jinping and WEF Founder Klaus Schwab
June 28, 2023
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Asia & PacificAustraliaBusiness & MarketsChina NewsChina-Australia Relationschina-new zealandChris HipkinsChristopher LuxonInternationalInternational RelationsWorldXi Jinping
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New Zealand Prime Minister Chris Hipkins met Chinese leader Xi Jinping in Beijing on Tuesday evening as he tries to bring the message that New Zealand is “open for business” during his five-day China trip. Hipkins said they covered various topics during their approximately 30-minute meeting, including economic, social, and cultural connections. The prime minister…
Petrol, Diesel Drivers Could Be Charged Special Fee to Enter Australia’s Capital
June 28, 2023
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AustraliaAustralian Capital TerritoryBusiness & MarketsCANBERRAclimate changeeconomic policiesenergyInternationalUltra Low Emission Zone (ULEZ)World
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Authorities in Canberra have not ruled out charging petrol and diesel car drivers a special fee to enter the nation’s capital as part of an ongoing push towards lower emissions. The Labor-Greens government is facing criticism over its decision to embrace the C40’s “Green and Healthy Streets Accelerator” concept, which calls on governments to only operate…
Tesla Charging Technology Put on Fast Track to Become US Standard
Tesla’s electric-vehicle charging technology is being put on a fast track to become a North American standard, giving a further boost to the automaker’s plan to expand access to its once-exclusive chargers. Tesla’s charging technology has been gathering momentum for weeks. Volvo Car on Tuesday joined General Motors, Ford and Rivian in embracing Tesla’s charging…
Biden Launches New Economic Tour to Reassure Americans That ‘Bidenomics’ Is Working
June 28, 2023
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President Joe Biden launched this week his second “Investing in America” tour around the country, aiming to explain how his economic plan has spurred investments and jobs as the economy remains the most pressing issue for Americans. The administration kicked off the week with the announcement of over $40 billion in infrastructure investment to provide…
Western Australia Grabbing Farmer’s Properties, Thwarting Food Production
June 28, 2023
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AustraliaBusiness & Marketseconomyfood securityKlaus SchwabOpinionViewpointswefWestern AustraliaWorld
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Commentary The Aboriginal Cultural Heritage Act comes into effect on July 1 in Western Australia (WA). Premier Roger Cook has ruled out any delay in what has been broadly regarded as a piece of legislation that puts the state “to a grinding halt and strangles much-needed industry, housing construction, and agricultural output.” The legislation was…
Is Western Australia’s Heritage Law Going to Thwart Food Production
June 28, 2023
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AustraliaBusiness & Marketseconomyfood securityKlaus SchwabOpinionViewpointswefWestern AustraliaWorld
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Commentary The Aboriginal Cultural Heritage Act comes into effect on July 1 in Western Australia (WA). Premier Roger Cook has ruled out any delay in what has been broadly regarded as a piece of legislation that puts the state “to a grinding halt and strangles much-needed industry, housing construction, and agricultural output.” The legislation was…
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