Tag: economic policies

Wall Street Opens Lower as Weak Earnings Updates Dent Sentiment

January 25, 2023
Business & MarketsCompanieseconomic policieseconomyinflationMarketsMedia & Big TechrecessionstocksUS
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Wall Street’s main indexes opened lower on Wednesday as downbeat quarterly updates from Microsoft and Boeing added to fears of a recession, with technology shares leading the declines. The Nasdaq Composite dropped 187.74 points, or 1.66 percent, to 11,146.53 at the opening bell. The Dow Jones Industrial Average fell 195.60 points, or 0.58 percent, at…

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US Business Equipment Borrowings Grow 9 Percent in December: ELFA

January 25, 2023
Business & MarketsCompanieseconomic policieseconomyELFAequipmentMarketsUSUS News
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U.S. companies borrowed 9 percent more in December to finance equipment investments compared with a year earlier, industry body Equipment Leasing and Finance Association (ELFA) said on Tuesday. The companies signed up for $12.9 billion in new loans, leases, and lines of credit last month, compared with $11.8 billion a year earlier, according to ELFA….

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California to Vote on Fast-Food Workers’ Wage Hike in 2024 After Businesses Gather Over One Million Opposing Votes

January 25, 2023
Business & MarketsCaliforniaeconomic policieseconomyfast-food workersNorthern CaliforniaPolicies & ImpactsRegional & State NewsSouthern CaliforniaState NewsUSwages
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Californian citizens are set to vote on a proposal next year that seeks to improve the working conditions and raise wages of fast-food workers across the state, a measure that has attracted strong opposition from businesses in the sector. Assembly Bill (AB) 257, also known as the FAST Recovery Act, proposed raising the minimum wages…

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Gold Slides as Dollar Steadies, Traders Eye US Data

January 25, 2023
Business & Marketseconomic policieseconomyForexglobalgoldGold and CommoditiesinflationMarketsmetalspreciousrecessionstocks
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Gold prices slipped on Wednesday from a nine-month peak hit in the previous session as the dollar steadied and investors squared positions ahead of U.S. fourth-quarter economic growth figures. Spot gold was down 0.6 percent to $1,925.02 per ounce at 1152 GMT, after hitting its highest since late April on Tuesday. U.S. gold futures dropped…

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Oil Slips as Recession Fears Offset Market Optimism for China’s Demand Recovery

January 25, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil slipped on Wednesday, adding to a decline in the previous session, as global recession worries edged out optimism for a demand recovery in China. Crude has rallied in 2023, with global benchmark Brent crude topping $89 a barrel this week for the first time since early December, on the ending of China’s COVID-19 controls…

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Global Shares Mixed, China Markets Closed for Holidays

January 25, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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TOKYO—Global shares were mixed Wednesday after Wall Street indexes finished little changed as investors awaited earnings results from major global companies. The U.S. government will release economic growth data for the fourth quarter on Thursday. Economists expect the economy expanded at an annual pace of less than 1 percent, down from 1.9 percent in the…

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Fed Needs Mortgage-Backed Securities Exit Plan ‘Earlier Than Later,’ Kansas City Fed President Says

January 25, 2023
bankBusiness & Marketseconomic policiesEsther GeorgeinflationinterestMarketsmortgagerates
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WASHINGTON—Kansas City Federal Reserve President Esther George has urged her colleagues to come to terms “earlier than later” on a plan for the U.S. central bank to exit the mortgage-backed securities (MBS) market and be more explicit on how bond purchases will figure into future monetary policy. “You can’t just wake up one day and…

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Gasoline Prices Surge as Consumer Demand Rises in January

January 24, 2023
Business & MarketsCompaniescrudeeconomic policieseconomyenergygas pricesinflationMarketsOil RefineriesUSWorld
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Rising U.S. consumer demand, combined with a rise in the price of crude oil, has led to an increase in gas prices at the pump. The national average price for a regular gallon of gas was at $3.46 on Jan. 24, according to data from the American Automobile Association (AAA). The auto association attributed much of…

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Energy Support and Debt Interest Send UK Public Borrowing to Record High

January 24, 2023
Business & Marketseconomic policieseconomyenergygovernment borrowingIain Duncan SmithinflationRishi SunakUKWorld
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The UK’s public borrowing rose to another record high last month as a result of the mounting cost of the government’s energy support schemes and soaring debt interest. According to the latest figures released by the Office for National Statistics (ONS), UK public sector borrowing reached £27.4 billion in December 2022, the highest December figure…

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Democrat Policies to Burden American Businesses With Higher Taxes This Year

January 24, 2023
Business & MarketsbusinessesDemocrat policieseconomic policieseconomyPolicies & ImpactsPoliticstaxesUS
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Businesses in the United States are set to face a bigger federal tax burden in 2023 due to Democrat policies and the phasing out of Republican tax overhauls, combined with an expected raise in corporate minimum tax for billion-dollar companies. The Inflation Reduction Act (IRA) included several changes due to which businesses will face higher…

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