Tag: economic policies

Kentucky Joins Growing Movement to Blacklist ESG Banks

January 4, 2023
american banksBusiness & Marketseconomic policieseconomyenergyESGfossil fuelsInvestmentKentuckyPolicies & ImpactsRed states and blue statesRegional-Local NewsUSUS News
0 Comment

Kentucky has joined a growing list of conservative states that have begun to boycott banks they charge are discriminating against the fossil fuel industry. In compliance with a Kentucky law passed in March, State Treasurer Allison Ball yesterday released a list of banks that “are engaged in energy company boycotts.” This list included Wall Street…

Read More

Salesforce to Cut 10 Percent of Workforce in Latest Tech Layoffs

January 4, 2023
Business & MarketsCompanieseconomic policieseconomyinflationlayoffMarketsrecessionSalesforcestocksTechUSUS News
0 Comment

Salesforce Inc. plans to cut its workforce by 10 percent and close some offices, saying it needs to cut costs after rapid pandemic hiring left it with “too many people” amid an economic slowdown, sending its shares up 5 percent. The cloud-based software company said on Wednesday it expects between $1.4 billion and $2.1 billion…

Read More

The Next Push to Ban Cash Is Coming From Cashless Denmark, Which Boasted Zero Bank Robberies in 2022

January 4, 2023
bank robberyBusiness & Marketscashless societyDenmarkeconomic policieseconomyEuropeMarketspersonal financeWorld
0 Comment

The next push to ban cash may come from crime statistics, as cashless Denmark boasted zero bank robberies last year. The campaign to end paper currency is becoming a hot button issue for many, as other countries and the World Economic Form, an international nongovernmental and lobbying organization, are considering replacing it with digitized currency. However,…

Read More

Wall Street Opens Higher With Focus on Fed Minutes

January 4, 2023
Business & Marketseconomic policieseconomyinflationMarketsrecessionstocksUS
0 Comment

Wall Street’s main indexes opened higher on Wednesday on hopes of an economic recovery in China, while focus was also on minutes from the Federal Reserve’s December policy meeting for clues on the outlook for interest rate hikes. The Dow Jones Industrial Average rose 28.77 points, or 0.09 percent, at the open to 33,165.14. The…

Read More

Dollar Falls as Europe Inflation Cools and China Lifts the Aussie

January 4, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
0 Comment

LONDON—The dollar fell broadly on Wednesday, losing out to commodities currencies like the Australian dollar and against the euro, which got a lift from a raft of data that suggested European inflation may finally have peaked. The dollar was already under pressure from investors who have grown more optimistic over the prospect that China’s relaxation…

Read More

Oil Falls Again as Concerns Grow Over Global Economy, China COVID-19 Cases

January 4, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
0 Comment

LONDON—Oil fell sharply on Wednesday after slumping in the previous session, weighed down by concerns about weak demand due to the state of the global economy and China’s rising COVID-19 cases. Brent futures fell $1.88 to $80.22 a barrel, a 2.3 percent loss, by 1032 GMT. U.S. crude dropped $1.68, or 2.2 percent, to $75.25…

Read More

Stocks Creep Higher as Inflation Data Offers Hope Ahead of Fed

January 4, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
0 Comment

SINGAPORE/LONDON—European and Asian shares rose on Wednesday thanks to positive news about inflation and China’s strict anti-COVID measures, while the dollar backpedaled as investors await minutes from the Federal Reserve’s most recent meeting. The pan-European STOXX 600 was up 0.9 percent by 0835 GMT as a lower inflation reading from France boosted sentiment, adding to…

Read More

Employers of Foreign Workers to Pay Higher Visa Fees Under DHS Proposal

January 4, 2023
Business & MarketsCompaniesDHSeconomic policieseconomyExecutive BranchImmigrantsPoliticsUSUS Newsvisa
0 Comment

The Department of Homeland Security (DHS) has proposed increasing the fees paid by companies that employ immigrants in an effort to boost revenue for the United States Citizenship and Immigration Services (USCIS), from around $4.5 billion a year to roughly $6.4 billion a year. The proposed fee update (pdf) was announced by USCIS, the agency that handles…

Read More

IRS Changes for 2023 Will See Lower Taxes for Some Americans

January 3, 2023
Business & MarketsCost of Living adjustmenteconomic policieseconomyExecutive BranchinflationIRSpersonal financePolicies & ImpactsPoliticstax deductionsUSUS News
0 Comment

New changes to the Internal Revenue Service’s policies for 2023 will see lower taxes for some Americans, as the revised rules come into effect. Rising costs have prompted the tax service to implement several changes affecting millions of citizens, as more deal with higher prices. Cost of living adjustments, including retirement savings, taxes, Social Security payments, and…

Read More

Kentucky Lists BlackRock, JPMorgan Chase for Divestment Over ‘Ideological’ Energy Boycott

January 3, 2023
BlackRockBusiness & Marketscancel cultureCompanieseconomic policieseconomyenergyFeatured Topicsfossil fuelInvestmentKentuckyLocal NewsPolicies & ImpactsRegional-Local NewsUSUS News
0 Comment

The State of Kentucky on Tuesday released a list of 11 financial companies that included BlackRock and JPMorgan Chase, warning that they are at risk of divestment because of their ideologically driven boycott of the fossil fuel industry. “When companies boycott fossil fuels, they intentionally choke off the lifeblood of capital to Kentucky’s signature industries,”…

Read More