U.S. industrial production unexpectedly slipped in May, after two months of gains. Factories in the mid-Atlantic region saw a decline in activity for the first time since 2021 in June, according to the Federal Reserve Bank of Philadelphia. Production fell 0.2 percent last month, as manufacturing struggled under the weight of higher interest rates, after…
US Industrial Production Unexpectedly Falls in May After 2 Months of Gains
June 21, 2023
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Nearly 80 Percent of Australians Want PwC Banned From Government Contracts: Survey
A majority of Australians want consulting firm PricewaterhouseCoopers (PwC) to be banned from government contracts following the revelations the company used confidential government information to create products that allegedly allowed clients to not pay tax. According to research released on June 20 by the Australia Institute, 79 percent or four in five Australians want the consulting…
Queensland Opens Needle-Free Vaccine Skin Patches Factory
June 20, 2023
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Australia has opened the doors to a vaccine skin patch manufacturing facility in hopes to reduce the complexities and costs associated with existing vaccines and be better position the country for future pandemics. Situated in Brisbane’s riverside suburb of Hamilton, biotechnology company Vaxxas expects to manufacture and distribute the first commercially available vaccine patches within…
Stock Market Today: Wall Street Falls and Takes a Step Back After Its Big Rally
NEW YORK—Stocks pulled back Tuesday in their first trading after a five-week rally carried Wall Street to its highest level since the spring of last year. The S&P 500 fell 20.88 points, or 0.5 percent, to 4,388.71. The Dow Jones Industrial Average dropped 245.25, or 0.7 percent, to 34,053.87, and the Nasdaq composite lost 22.28,…
Supreme Court to Decide If US Is Immune From Lawsuits
The U.S. Supreme Court has agreed to hear a case that will decide whether the United States government can be sued for monetary damages. The high court agreed on June 20 to review an appeals court ruling that Reginald Kirtz could sue the U.S. Department of Agriculture (USDA) for wrongly stating on his credit report…
Protesters Again Target Major Coal Ports in Australia
The Port of Newcastle and the Port of Melbourne have again been targeted by climate protesters just hours after a teenager scaled a coal loader and glued herself to a railing. It’s the third day of action by climate activists targeting major east coast coal ports. A young woman named Niamh abseiled off Shepherd’s bridge on…
Closing Prices for Crude Oil, Gold, and Other Commodities (June 20)
June 20, 2023
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Benchmark U.S. crude oil for July delivery fell $1.28 to $70.50 a barrel Tuesday. Brent crude for August delivery fell 19 cents to $75.90 a barrel. Wholesale gasoline for July delivery fell 7 cents $2.61 a gallon. July heating oil fell 7 cents to $2.48 a gallon. July natural gas fell 14 cents to $2.49…
How Major US Stock Indexes Fared June 20
Stocks closed lower in Wall Street’s first trading after a five-week rally carried it to its highest level since the spring of last year. The S&P 500, the Dow Jones Industrial Average and the Nasdaq composite fell. The U.S. stock market took a step back after rising on hopes the economy can avoid a recession…
Chinese Automakers Start EV Price War in Australia
Two Chinese car manufacturers have sparked an electric vehicle (EV) price war in Australia with their plans to roll out “the most affordable” electric car on the market this week. On June 19, MG Motor, which Chinese automaker SAIC Motor owns, announced the release of an entry-level model for its MG4 electric SUV at $38,990 (US$26,500),…
Democrat Attorneys General Respond to Target Boycott Over ‘Pride Month’ Items
Democrat prosecutors sent a letter to Target Corp. after it removed some of its “Pride Month” merchandise last month in the midst of boycotts. A coalition of 15 Democrat attorneys general sent a letter to Target CEO Brian Cornell, saying that the decision to pull LGBT products—including clothing for small children—is a setback for the…
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