Tag: economic policies

San Francisco Mulls End to Red-State Boycott That Hurt Its Finances

February 20, 2023
boycottBusiness & MarketsDemocratseconomic policieseconomyNorthern CaliforniaPolicies & ImpactsPoliticsred statesRegional & State NewsSan FranciscoSocial IssuesSouthern CaliforniaState NewsUSUS News
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The San Francisco Board of Supervisors may soon pull its boycott on conservative red states after the move backfired and hurt the city’s finances as it begins to deal with budget shortfalls. The 2016 ban on municipally funded travel and contracting failed to have any impact on those states’ policies and has caused the city’s…

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Ericsson to Cut 1,400 Jobs in Sweden

February 20, 2023
Business & MarketsCompanieseconomic policieseconomyEntertainmentericssonEuropeinflationlayoffsrecessionSwedenWorld
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STOCKHOLM—Telecoms gear maker Ericsson plans to cut about 1,400 jobs in Sweden as part of a broader plan to reduce costs globally, it said on Monday. The company had earlier announced plans to cut costs by 9 billion crowns ($880 million) by the end of 2023 as demand slows in some markets, including North America….

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Dollar Edges Lower From 6-Week Peak, Eyes on Fed

February 20, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The dollar edged lower on Monday but remained close to Friday’s six-week high, as a recent flurry of positive economic data reinforced market expectations of tighter monetary policy from the Federal Reserve. The U.S. dollar index, which measures it against six other major currencies, slipped 0.14 percent to 103.83, though is up almost 1.8 percent…

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Oil Rises on China Demand Optimism and Supply Concerns

February 20, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose on Monday, buoyed by optimism over Chinese demand, continued production curbs by major producers, and Russia’s plans to rein in supply. Brent crude rose 59 cents, or 0.7 percent, to $83.59 a barrel by 1020 GMT. U.S. West Texas Intermediate (WTI) crude for March, which expires on Tuesday, was up 58 cents,…

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Shares Edge Up as US Holiday Interrupts Interest-Rate Reality Check

February 20, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global shares edged up on Monday as a U.S. holiday made for slow trading ahead of minutes of the latest Federal Reserve meeting and a reading on core inflation that could add to the risk of interest rates heading higher for longer. The dollar, which is heading for its largest one-month rise since September in…

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Biden Admin Negotiates Deal to Give WHO Authority Over US Pandemic Policies

February 18, 2023
AMERICABusiness & MarketsCCP VirusCOVID policyeconomic policiesExecutive BranchInternationalPandemic Ties to CCPPoliticsUSVaccines & SafetyWHOWorld
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News Analysis The Biden administration is preparing to sign up the United States to a “legally binding” accord with the World Health Organization (WHO) that would give this Geneva-based UN subsidiary the authority to dictate America’s policies during a pandemic. Despite widespread criticism of the WHO’s response to the COVID pandemic, U.S. Health and Human…

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Used Car Prices Soar, Highest Jump in 14 Years

February 17, 2023
auto loanBusiness & Marketseconomic policieseconomyinflationMarketsPolicies & ImpactsrecessionUSused car prices
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Used car prices have seen the largest February increase in 14 years as inflation continues to drive consumer prices. Wholesale used-vehicle prices increased 4.1 percent from January through the first half of this month, signifying the largest February increase since 2009’s full-month 4.4 percent gain, according to the mid-month Manheim Used Vehicle Value Index from Cox Automotive….

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Recession ‘Near’ as US Leading Economic Index Drops for Tenth Straight Month

February 17, 2023
Business & Marketseconomic policieseconomyFederal ReserveinflationInvestmentMarketspersonal financePolicies & ImpactsrecessionThe Conference BoardUS
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The United States is approaching a recession, as a closely watched economic index dropped for the tenth straight month in January, for the longest slump since the Lehman Brothers collapse in 2008. The Conference Board Leading Economic Index (LEI), released on Feb. 17, declined by 0.3 percent in January, following an 0.8 percent contraction in December….

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Bank of America Strategists Expect Economic ‘Hard Landing’ to Pummel Markets

February 17, 2023
Bank of AmericaBusiness & Marketseconomic policieseconomyinflationinterest rateInvestmentMarketsPolicies & ImpactsrecessionUSUS News
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Bank of America strategists are expecting an economic “hard landing” to pummel the markets at the end of the year, due to a resilient U.S. economy. Economists are beginning to fear that a delayed recession in the second half of 2023 will be harsh on stocks, since the current state of the American economy is keeping…

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Major Banks See Federal Reserve Raising Interest Rates Beyond 5 Percent as Inflation ‘Refuses to Soften’

February 17, 2023
Bank of AmericaBusiness & MarketsDeutsche Bankeconomic policieseconomyFederal Reserve PolicyGoldman Sachshigh inflationinflationU.S. interest rate hikesUS
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Goldman Sachs, Deutsche Bank, the Bank of America (BofA), and other financial institutions are expecting the Federal Reserve to extend its interest-rate hikes as elevated inflation and strong employment maintain upward pressure on prices. BofA now expects a pause in interest rate hikes in July rather than earlier expectations of June. “Resurgent inflation and solid…

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