Tag: economic policies

Wall Street Opens Higher as BofA Gains on Earnings Beat

October 17, 2022
Business & MarketsCompanieseconomic policieseconomyinflationMarketsrecessionstocksUS
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Wall Street’s main indexes opened higher on Monday, following better-than-expected results from Bank of America that were underpinned by the Federal Reserve’s rapid rate hikes. The Dow Jones Industrial Average rose 424.8 points, or 1.43 percent, at the open to 30,059.58. The S&P 500 rose 55.6 points, or 1.55 percent, at the open to 3,638.65​,…

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Is ESG Emerging as the Next CRT in Electoral Politics?

October 17, 2022
2022 Midterm ElectionsBusiness & MarketsCRTeconomic policieseconomyelectionsESGInvestmentPoliticsUSUS News
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Environmental, social, and governance (ESG) has been one of the most popular investment trends in recent years. While it encourages businesses to be more environmentally and socially responsible, it’s frequently criticized for advancing a “woke” agenda. Republican state governors like Florida’s Ron DeSantis and Texas’s Greg Abbott are among many who speak out against ESG….

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Central Bank Digital Currencies Would Let Governments Control What People Spend Money On: IMF Official

October 17, 2022
Business & MarketsCentral Bankcryptocurrencydigital currencieseconomic policiesIMFMarketsUSUS News
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The International Monetary Fund (IMF) has said that central bank digital currencies (CBDCs) could potentially allow a government to control what people spend their hard-earned cash on. Speaking at the IMF-World Bank annual meeting on Oct. 15, Deputy Managing Director Bo Li said that a CBDC could improve “financial inclusion” through programmability. “A CBDC can…

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UK Reverses Tax Cuts, Scales Back Energy Help to Calm Markets

October 17, 2022
Business & Marketseconomic policieseconomyenergyJeremy HuntKwasi Kwartengliz trussMarketstax cutsUKWorld
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Britain’s new Chancellor of the Exchequer Jeremy Hunt has reversed the tax cuts promised by his predecessor and scaled back support for household energy bills in an attempt to restore financial stability following weeks of market turmoil. Hunt was brought in only last Friday to boost the UK government’s fiscal credibility after former Chancellor Kwasi…

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Russia’s Gazprom Says It Will Terminate Natural Gas Supplies If Price Cap Is Imposed

October 17, 2022
Business & Marketseconomic policieseconomyenergyEuropeGasGazpromInternationalRussiaRussia-Ukraine WarWorld
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The CEO of Russia’s energy giant Gazprom has warned that energy supplies will be halted if Europe imposes price caps on Russian natural gas exports. “Such a one-sided decision is of course a violation of existing contracts, which would lead to a termination of supplies,” Gazprom CEO Alexei Miller said on Russian TV on Sunday, Reuters reported. Miller’s comments…

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Sterling Edges Up on UK Fiscal Policy U-turn; Yen Struggles

October 17, 2022
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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SINGAPORE—Sterling inched cautiously higher following British Prime Minister Liz Truss’s partial reversal of her government’s economic plan, while the yen was pinned near a 32-year low as markets awaited signs of intervention from Japanese authorities. The pound gained 0.42 percent to $1.1225, after Truss said on Friday that Britain’s corporation tax will rise to 25…

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Oil Steady as Recession Fears Counter Positive Chinese Signals

October 17, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices were steady on Monday as China’s continuation of loose monetary policy was offset by fears that high inflation and energy costs could drag the global economy into recession. Brent crude futures rose 17 cents, or 0.2 percent, to $91.80 a barrel by 0915 GMT, recovering from a 6.4 percent fall last week. U.S….

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Global Shares Mostly Higher as Markets Eye China Meeting

October 17, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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TOKYO—Global shares were mostly higher Monday as investors kept their eyes on a weeklong Communist Party congress in China. France’s CAC 40 added 0.5 percent in early trading to 5,961.27. Germany’s DAX gained 0.5 percent to 12,498.72. Britain’s FTSE 100 rose 0.5 percent to 6,894.84. The future for the Dow industrials was up 0.7 percent,…

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Sri Lanka Seeks Trilateral Cooperation With India, Japan for Economic Recovery: Envoy

October 17, 2022
Asia & PacificBusiness & MarketsChinaChina Business & Economyeconomic policieseconomyIndiaInternationalInternational RelationsJapanSri LankaWorld
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Sri Lanka has sought trilateral cooperation with India and Japan in the renewable energy, petroleum, telecoms, and port sectors to hasten its economic recovery, the Sri Lankan high commissioner to India said on Monday. “President Ranil Wickremesinghe discussed trilateral cooperation with India and Japan during his visit to Tokyo,” High Commissioner Milinda Moragoda said in…

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Former Captain’s Criticism Of Funding Deal Sparks Revolt Against Coal-Mining Sponsor

October 16, 2022
AustraliaBusiness & Marketsclimate changeeconomic policiesenergyGina RinehartHancock ProspectingInternationalLang HancockNetball AustraliaSocial IssuesSportsSports NewsUSWorld
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Cash-strapped Netball Australia has delayed the rollout of new uniforms featuring the logo of mining giant Hancock Prospecting after a former captain spoke out against the company’s head, billionaire Gina Rinehart, who has been sceptical of the climate change movement. The women’s team have reportedly opted out of wearing the new jersey and wants more…

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