BANGKOK—Shares were mostly higher Monday in Europe and Asia after strong data on the U.S. economy sent Wall Street to its best close in six weeks. Germany’s DAX gained 0.4 percent to 15,644.08 and the CAC 40 in Paris was up 0.7 percent at 7,397.31. London’s FTSE 100 edged 0.1 percent lower to 7,941.38. The…
World Stocks Gain After Wall Street Has Best Day in 6 Weeks
March 6, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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When the CCP Opens Its Economy, It’s Never Out of Friendliness
March 5, 2023
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AustraliaBusiness & MarketsCCPChinaChina Business & EconomyChina-Australia RelationsChinese economyCompanieseconomyInternationalInternational RelationsOpinionUS-China relationsViewpointsWorldXi Jinping
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Commentary The prospect of a return to the previous era of trade between Australia and China has been the subject of considerable speculation in recent weeks following meetings between officials from both nations. The prospective thaw in relations saw corporate executives, including university vice-chancellors, flocking back to China with excited alacrity, eager to recreate the…
Taiwan’s TSMC to Recruit 6,000 Engineers in 2023
TAIPEI—Taiwan Semiconductor Manufacturing Co. Ltd (TSMC), the world’s largest contract chipmaker, will recruit more than 6,000 new staff in 2023, the company said in a statement on Saturday. The hiring drive comes despite a global downturn in the chip industry. According to TSMC, the company will seek young engineers with associates, bachelor’s, masters’s or doctorate…
Buffett On Buybacks
March 4, 2023
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BerkshireBuffettBusiness & MarketsBusiness ColumnistsBuybacksCompanieseconomic policiesHathawayMarketsstocks
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Commentary Warren Buffett defended stock buybacks in Berkshire Hathaway Inc.’s 2022 Annual Report (pdf), pushing back on those railing against the practice he believes benefits all shareholders. “When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued…
Tesla Recalls 3,470 Model Y Vehicles Over Loose Bolts
WASHINGTON—Tesla Inc. said it is recalling 3,470 2022 through 2023 Model Y vehicles in the United States because bolts securing the second-row seatback frames may not have been securely tightened, according to a filing made public Saturday. The National Highway Traffic Safety Administration (NHTSA) said a loose seat frame bolt may reduce seat belt system…
Amazon Pauses Headquarter Construction in Virginia After Revenue Losses
Amazon has decided to pause construction activities at its second headquarters in Arlington, Virginia, following a poor 2022 financial performance that saw the company register over $2 billion in losses. The Seattle-based e-commerce giant is developing its Arlington base, HQ2, in two phases—the Met Park and PenPlace. The company has decided to pause construction in…
Walgreens Won’t Sell Abortion Pills in 20 States
March 4, 2023
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abortionBusiness & MarketsCompaniespillsRegional & State NewsSocial IssuesState NewsUSUS NewsWalgreens
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Walgreens confirmed on March 2 that it will not distribute abortion pills in numerous states—including to some states where abortion is legal—after Republican attorneys general (AG) in 21 states told the company that it risked breaking federal law should it do so, Politico first reported. Walgreens, the second-largest pharmacy chain in the United States, made…
US Court Won’t Require FAA to Make Airplane Seat Size, Spacing Rules
Airline passengers who have long felt squished in cramped seats suffered a setback on Friday as a U.S. appeals court refused to order the Federal Aviation Administration (FAA) to adopt minimum requirements for seat size and spacing. The D.C. Circuit Court of Appeals said an advocacy group, FlyersRights.org, had no right to force the FAA…
Ford to Raise Production as US Auto Sales Start to Recover
DEARBORN, Mich.—Ford will increase production of six models this year, half of them electric, as the company and the auto industry start to rebound from sluggish U.S. sales in 2022. The automaker announced Friday that it plans to build more of the Mustang Mach-E, the Bronco Sport SUV and Maverick small pickup, the F-150 Lightning…
Boeing Denies CEO Calhoun $7 Million Bonus Due to 777X Delays
WASHINGTON—Boeing Co. Chief Executive Dave Calhoun will not receive a $7 million bonus due to the company’s failure to enter the 777X into service by the end of 2023, Boeing said Friday. Boeing offered the performance-based incentive to Calhoun when he replaced former CEO Dennis Muilenburg in January 2020 and required that Calhoun achieve seven…
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