Tag: economic policies

UK Government ‘Too Slow’ to Recover Fraud Losses Following COVID-19 Pandemic: Report

June 6, 2023
Business & MarketsCOVID-19economic policieseconomyFraudUKUK GovernmentWorld
0 Comment

MPs have said the government needs to learn how to better manage crises like the COVID-19 pandemic in order to tackle fraud and error, which cost taxpayers billions of pounds. The Committee of Public Accounts (CPA) has issued a report looking into the challenges and opportunities across Whitehall during the period that Britain opened up…

Read More

Wall Street Opens Lower as Mixed Data Fuels Fed Policy Uncertainty

June 6, 2023
Business & MarketsCompanieseconomic policieseconomyMarketsstocksUS
0 Comment

Wall Street’s main indexes opened slightly lower on Tuesday as investors assessed chances of the Federal Reserve holding interest rates at its meeting next week, with mixed data adding to uncertainty around the policy outlook. The Dow Jones Industrial Average fell 15.19 points, or 0.05 percent, at the open to 33,547.67. The S&P 500 opened…

Read More

Aussie Jumps on RBA Hike, US Dollar Steady

June 6, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
0 Comment

LONDON—The Australian dollar jumped to its highest since mid-May on Tuesday after the Reserve Bank of Australia (RBA) raised interest rates, in a decision that many analysts had said would be a close call between a hike and a pause. The U.S. dollar was steady, below last week’s 2–1/2-month highs versus major peers, after unexpectedly…

Read More

Oil Falls as Economic Fears Overshadow Saudi Output Cut

June 6, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
0 Comment

LONDON—Oil prices tumbled more than $1 a barrel on Tuesday, after a strong rally in the previous session as worries about the global economic growth outweighed Saudi Arabia’s pledge to deepen output cuts. Brent crude futures were down $1.33, or 1.73 percent, to $75.38 a barrel by 0923 GMT. U.S. West Texas Intermediate crude fell…

Read More

World Stocks Tread Water as Traders Eye Fed Pause Prospects

June 6, 2023
Business & MarketsCompaniescryptocurrencyeconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
0 Comment

LONDON—European stocks started Tuesday mixed, as soft U.S. economic data reinforced expectations the Federal Reserve may skip an interest rate hike when it meets next week. The pan-European STOXX 600 index was up 0.1 percent to 460.40 at 0830 GMT. In the previous session, the index dropped as data pointing to tepid U.S. business activity…

Read More

No End to Price Shocks: Think Tank Warns Against Closing Australia’s Largest Power Station

June 6, 2023
AustraliaBusiness & Marketseconomic policiesenergyEraring Power StationLiddell Power Stationnet zeroOrigin EnergyWorld
0 Comment

The New South Wales (NSW) Labor government must do everything it can to stop the closure of the Eraring Power Station, with one think tank warning its shutdown could trigger major energy shortages and price hikes.  Eraring’s seemingly inevitable closure will follow that of Liddell Power Station, Australia’s second-largest power plant, which supplied power to…

Read More

Lawsuit Filed Against Australia’s Environment Minister for Not Considering ‘Climate Risk’

June 5, 2023
AustraliaBusiness & Marketsclimate changeclimate riskeconomic policiesenergyInternationalTanya PlibersekWorld
0 Comment

A legal challenge has been lodged against Australia’s environment minister, Tanya Plibersek, claiming she did not adequately consider climate risks when approving two new coal mining projects. The action, filed in the Federal Court of Australia, seeks a judicial review of the minister’s decision, arguing there were legal errors because Plibersek did not consider the…

Read More

[Premiering 6/6, 7:30PM ET] David Stockman: Debt Default, the ‘Doomsday Budget Machine,’ and Failed Fiscal Restraint Explained

June 5, 2023
American Thought LeadersbidenBusiness & MarketsBusinesses in COVID-19CCP VirusCompaniesDavid Stockmandebt ceilingdebt crisisDebt Limit BillDemocratsDonald Trumpeconomic policieseconomyEpochTVExecutive BranchFederal Reservehigh inflationHouse Majority Leader Kevin McCarthyinflationinterest ratesLive VideosMarketsMedia & Big Techpersonal financePolicies & ImpactsPoliticspublic debtRepublicansUSUS NewsVideo
0 Comment

“For capitalism to work, you have to have effectively functioning, solid capital markets. And in order to do that, you need savings—real savings, not money printed by a central bank, but real savings from businesses and households,” says David Stockman, who served as budget director for President Ronald Reagan. “Back then, the public debt was 30-40…

Read More

Spotify to Lay Off 200 Workers in Podcast Division

June 5, 2023
Business & MarketsCompanieseconomic policieseconomyEuropelayoffsspotifyWorld
0 Comment

Spotify Technology SA said on Monday it would cut 200 jobs from its podcast unit in its second round of layoffs, as the company restructures the business after years of heavy investment. The move affects about 2 percent of the music-streaming giant’s workforce and aligns Spotify with the likes of Meta Platforms and Roku, which…

Read More

Wall Street Opens Muted as Investors Weigh Chances of June Rate Pause

June 5, 2023
Business & MarketsCompanieseconomic policieseconomyinflationMarketsstocksUS
0 Comment

Wall Street’s main indexes opened subdued on Monday after a solid rally last week, as investors assessed chances of the Federal Reserve pausing interest rate hikes at its upcoming policy meeting. The Dow Jones Industrial Average rose 8.37 points, or 0.02 percent, at the open to 33,771.13. The S&P 500 opened higher by 0.62 points,…

Read More