Commentary Allow me to explain why we have not seen a recession yet, despite the collapse in base money supply. We are witnessing the stealth nationalization of the economy. What does this mean? The entire burden of the monetary collapse and rate hikes is falling on the shoulders of families and small businesses, while large…
Drop in German Business Morale Points to Longer Recession
June 26, 2023
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BusinessBusiness & Marketseconomic policieseconomyEuropeGermanyinflationMarketsrecessionsentimentWorld
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BERLIN—German business morale worsened for the second consecutive month in June, a survey showed on Monday, indicating that Europe’s largest economy faces an uphill battle to shake off recession. The Ifo institute said its business climate index fell to 88.5 this month from 91.5 in May. A Reuters poll of analysts had predicted a smaller…
Dollar Surges to 15-month High Against Russia’s Rouble on Aborted Mutiny
LONDON/SINGAPORE—The U.S. dollar rose to a 15-month high against the rouble on Monday after dramatic weekend events in Russia, which saw an aborted mutiny by armed mercenaries. The dollar index also found some safe-haven support on lingering worries that the protracted monetary tightening cycles from major central banks would further hurt the global economic outlook….
Oil Markets Shrug Off Russian Political Turmoil
LONDON—Oil prices fell on Monday after a revolt by Russian mercenaries over the weekend, though the political instability did not appear to pose an immediate threat to oil supply from one of the world’s largest producers. Brent crude futures were down 8 cents, or 0.1 percent, at $73.77 a barrel by 0900 GMT. U.S. West…
Stock Market Today: Global Shares Decline After Armed Rebellion Quelled in Russia
June 26, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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TOKYO—Global shares mostly fell Monday after a short-lived armed rebellion in Russia added to uncertainties over the war in Ukraine. France’s CAC 40 dipped 0.4 percent in early trading to 7,135.23. Germany’s DAX slipped 0.2 percent to 15,797.27. Britain’s FTSE 100 fell 0.8 percent to 7,403.10. The futures for the Dow Jones Industrial Average and…
Australians to Receive First Round of Living Cost Relief in July
A significant number of Australian households will receive some cost-of-living relief within weeks as federal government policies start to take effect. Starting from July 1, hundreds of thousands of aged care employees across the country will see their minimum wage increase by 15 percent. The huge pay rise will apply to those directly working in…
Tainted PwC Partners and Staff to Be Publicly Named
All PwC partners and staff found to have done wrong will be named once an investigation into the tax advice scandal is over, an inquiry has been told. The revelation came as PwC’s acting chief executive Kristin Stubbins said offloading the firm’s government consultancy business and appointing a new CEO showed its commitment to accountability. PwC…
Twitter Faces Millions in Fines After New ‘Disinformation’ Laws Released in Australia
June 25, 2023
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AustraliaBusiness & MarketsCompaniesDavid ColemandisinformationElon MuskInternationalMedia & Big TechMichelle RowlandmisinformationSocial MediaTechTech NewsTwitterUSUS NewsWorld
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Elon Musk’s Twitter and other social media giants face the prospect of billions in fines after the Australian government released new laws targeting “misinformation and disinformation.” Following a months-long process, Communications Minister Michelle Rowland released the draft legislation that will grant the country’s media regulatory body, the Australian Communications and Media Authority (ACMA), greater powers…
Musk’s Twitter Faces Millions in Fines After New ‘Disinformation’ Laws Released in Australia
June 25, 2023
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AustraliaBusiness & MarketsCompaniesDavid ColemandisinformationElon MuskInternationalMedia & Big TechMichelle RowlandmisinformationSocial MediaTechTech NewsTwitterUSUS NewsWorld
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Elon Musk’s Twitter and other social media giants face the prospect of billions in fines after the Australian government released new laws targeting “misinformation and disinformation.” Following a months-long process, Communications Minister Michelle Rowland released the draft legislation that will grant the country’s media regulatory body, the Australian Communications and Media Authority (ACMA), greater powers…
Ford Explorer Recall Prompts Transportation Department Investigation
SAN FRANCISCO—The National Highway Traffic Safety Administration (NHTSA) is investigating a Ford Motor Co. recall of more than a quarter-million Explorer SUVs in the United States after receiving complaints about repairs intended to prevent the vehicles from unexpectedly rolling away even while placed in park. The problem, ascribed to fractures of a rear axle mounting…
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