Tag: economic policies

FTC Is Latest Federal Agency to Pursue Race-Based Agenda

November 20, 2022
Business & Marketscancel cultureclimate changeeconomic policieseconomyEnvironmentFeatured TopicsFTCPolicies & Impactsracial equityScienceUSUS News
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The Biden administration, as it has done with other federal agencies, has redirected the Federal Trade Commission (FTC) from its core mission of “protecting consumers and promoting competition” to fighting racial inequity and climate change. Created to be an enforcement arm of U.S. anti-trust laws, the FTC has written a new mandate for itself to…

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Trump-Era Treasury Secretary Calls G7 Russian Oil Price Cap ‘Ridiculous’

November 19, 2022
Business & Marketseconomic policieseconomyenergyEuropeGold and CommoditiesMarketsNational SecurityPolicies & ImpactsRussiaRussia-Ukraine Warrussian oil price capUKUkraineUSWorld
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Former U.S. Treasury Secretary Steven Mnuchin has called the Group of Seven’s plan to place a price cap on Russian oil “ridiculous.” The veteran cabinet member from the Trump administration was speaking with CNBC’s Hadley Gamble on a panel at the Milken Institute’s Middle East and Africa Summit. In addition to being a former Goldman Sachs…

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Alameda: The Firm at the Heart of FTX’s ‘Catastrophic Collapse’

November 19, 2022
AlamedaBusiness & MarketsCompaniescryptocurrencyeconomic policiesFTXInvestmentMarketsSam Bankman-FriedUSUS News
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In late 2017, MIT alumnus Sam Bankman-Fried left the quantitative trading firm Jane Street to start his own cryptocurrency trading firm, Alameda Research. Founded prior to FTX, Alameda got its start by taking advantage of bitcoin price differentials between Japanese and U.S. exchanges, namely by buying bitcoin for a low price in the United States and selling for…

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Report Questions Biden’s Push to Install E-Car Chargers at Gas Stations

November 19, 2022
bidenBusiness & MarketsDemocratseconomic policieseconomyelectric vehicleenergyExecutive Branchgas stationsPolicies & ImpactsPoliticsRegional-Local NewsRepublicanRepublicansTechUSUS News
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A well-known independent newsletter on fuel prices and gas stations has expressed skepticism about the addition of many more electric vehicle (EV) charging stations to U.S. gas stations, in line with Biden administration priorities when it comes to the country’s transportation infrastructure. The Nov. 17 edition of the Lundberg Letter called the advocacy of much…

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Twitter Will Need to Add Moderators in Europe, Top EU Official Demands

November 18, 2022
Business & MarketsCompaniescontent moderationeconomic policieseconomyEuropeEuropean Unionfree speechMarketsMedia & Big TechTwitterUSWorld
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Twitter has been ordered to increase the number of Twitter moderators in the European Union (EU) if it wants to operate there, said a top EU regulator. The EU’s Digital Services Act (DSA) and the Digital Markets Act (DMA), which came into force on Nov. 16, will put larger Internet platforms under the bloc’s online content censorship rules. European…

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Australian Economy Dodges Near Crisis After Major Industrial Action Averted

November 18, 2022
AustraliaBusiness & MarketsCompanieseconomic policiesInternationalSvitzerTony BurkeWorld
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The Australian economy managed to dodge a bullet after the industrial relations umpire stepped in to order the country’s largest tugboat operator to suspend a planned lockout of workers. On Nov. 17, the Fair Work Commission ruled that Svitzer’s plan to lock out half its workforce indefinitely would cause severe damage to the economy and…

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Fed’s Bullard Says Rates as High as 7 Percent May Be Necessary to Reduce Inflation

November 18, 2022
Business & Marketseconomic policieseconomyFederal Reserveinflationinterest ratesJames BullardMarketsPolicies & ImpactsUS
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The Federal Reserve may have to raise rates as high as 7 percent in order to have an impact on inflation, said James Bullard, president of the Federal Reserve Bank of St. Louis. Even if one allows for a “generous” assessment regarding the recent progress the Fed has made to fight inflation, it must continue…

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Dollar Heads for Weekly Gain as Fed Pushes Back on Pivot

November 18, 2022
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The dollar eased on Friday, but was still headed for its largest weekly gain in a month, after Federal Reserve officials reiterated their commitment to raising U.S. interest rates more than markets currently anticipate. It fell against the pound, which edged higher after a volatile session on Thursday following Britain’s budget for tax rises and…

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Oil Heads for 2nd Weekly Decline as Demand Concerns Weigh

November 18, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil gave up early gains on Friday and was on track for a second weekly decline, pressured by concern about weakening demand in China and further interest rate rises by the U.S. Federal Reserve. China has seen a rise in COVID-19 cases, while hopes for the moderation of aggressive U.S. rate hikes have been dented…

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UK Chancellor Defends Decision to Raise Taxes for UK’s ‘Squeezed Middle’

November 18, 2022
autumn statementBusiness & Marketseconomic policieseconomyinflationJeremy Huntpersonal financeraising taxesRishi SunakUKWorld
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The UK’s Chancellor of the Exchequer, Jeremy Hunt, has defended his decision to raise £25 billion ($30 billion) by raising taxes amid claims by some economists that it would hurt middle-income earners, the so-called “squeezed middle.” Hunt was criticised by former Business Secretary Jacob Rees-Mogg, who said he had taken the “easy option” and should have…

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