U.S. main stock indexes opened higher on Monday as beaten-down megacap growth stocks gained, while Meta Platforms climbed on reports of fresh layoffs. The Dow Jones Industrial Average .DJI rose 18.12 points, or 0.05 percent, at the open to 33,887.39. The S&P 500 .SPX opened higher by 6.16 points, or 0.15 percent, at 4,096.62, while…
Yen Slides, Dollar Index Near 5-week High as CPI Looms
TOKYO/LONDON—The dollar edged toward a five-week high versus major peers on Monday as the Japanese yen slid and investors increased bets on the Federal Reserve keeping monetary policy tight for longer. The major event this week will be the release of U.S. consumer price data on Tuesday, which will drive expectations for the Fed’s policy….
Oil Falls on Demand Fears as Fed ‘Make or Break Moment’ Approaches
February 13, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices slumped by about 1 percent on Monday as investors focused on short-term demand concerns ahead of key U.S. inflation data. Brent crude futures fell $1.14, or 1.3 percent, to $85.25 a barrel by 1005 GMT after a 2.2 percent gain on Friday. U.S. West Texas Intermediate crude was down $1.11, or 1.3 percent,…
Shares Steady, Dollar Gains Ahead of US Inflation Data
February 13, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON/SYDNEY—Global shares steadied, while the dollar rose on Monday, ahead of U.S. inflation data that could define the outlook for global interest rates, while news that the U.S. air force had shot down another airborne object created some geopolitical uncertainty. Officials declined to say whether this object, which was spotted along the Canadian border and…
‘Populist Rhetoric’: Major Coal Miner Lambasts Government for Limiting Exports
February 12, 2023
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AustraliaAustralian coalBusiness & Marketscoaleconomic policiesenergyGold and CommoditiesInternationalMarketsMatt KeanNew South WalesWhitehaven CoalWorld
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Dreams of creating an “Elysian fields of a renewable economy” have created a potential energy shortfall in New South Wales (NSW) which has forced the government to limit how much coal miners can send overseas, says leading miner Whitehaven Coal. The government is set to impose a quota on mining firms to reserve 10 percent of…
Republican Senators Oppose New Environmental Regulation on Heavy-Duty Trucks
February 11, 2023
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Business & MarketsCompaniescongresseconomic policiesemissionsEPAPoliticsregulationRepublicanstrucksUS
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Thirty-four Republican senators have introduced a resolution to overturn a rule on cutting emissions for heavy-duty trucks. The rule was created by the Environmental Protection Agency (EPA) in December. The EPA’s rule forces heavy-duty truck makers to reduce their trucks’ emissions, and it is more stringent by 80 percent compared to current standards. Under the…
IMF Calls for Stronger Climate Change Propaganda to Boost Flagging Public Support
The International Monetary Fund has called for stronger climate change propaganda, after noting a lack of public interest for their costly solutions. The United Nations-run financial agency has been attempting to drum up support through various polls to propagate climate change ideology and convince people around the world to get on board. Although a majority…
Kraken Settles With SEC for $30 Million and Will Close US Crypto Staking Operations
February 10, 2023
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Business & MarketsCompaniescrypto exchangecryptocurrencyeconomic policieseconomyInvestmentJudiciaryKrakenMarketspersonal financePolicies & ImpactsSECUS
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The Securities and Exchange Commission (SEC) settled a case with the cryptocurrency exchange Kraken, as it cracked down on one of its U.S. operations. Kraken agreed to shut down its cryptocurrency staking service and paid a $30 million fine to settle charges that it failed to register the offer or sale of the program, the SEC…
German Finance Minister Warns Against ‘Dangerous’ Trade Dependence on China
February 10, 2023
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Business & MarketsChinaChristian Lindnereconomic policieseconomyEuropeGerman economygerman trade dependence on chinagermany china tradeWorld
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Germany’s trade dependence on China has grown to “dangerous” levels, according to the country’s finance minister, with Berlin’s trade deficit with Beijing more than doubling last year, a development some experts warn can result in serious geopolitical implications. “Dangerous development: The German trade deficit with #China more than doubled in 2022. We should learn from…
IRS Still Hasn’t Issued ‘Additional Clarification’ After Telling Millions to Delay Filing: ‘Not Acceptable’
The federal watchdog for the Internal Revenue Service (IRS) faulted the federal agency for not giving guidance on how to handle state stimulus payments, which led to the IRS issuing an alert to taxpayers to delay filing a week ago. Since issuing its alert on Feb. 3, the IRS has not yet provided “additional clarification”…
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