Tag: economic policies

IN-DEPTH: Manchin Vows to Stop Biden’s ‘Radical Climate Agenda’

April 26, 2023
Business & MarketsClimate Agendaeconomic policieseconomyenergyInflation Reduction ActInvestmentJoe BidenJoe ManchinPoliticsUSUS News
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Sen. Joe Manchin (D-W.Va.) on Tuesday accused the Biden administration of ignoring domestic energy security provisions in the Inflation Reduction Act (IRA) and pledged to do everything in his power to push back against the administration’s “radical climate agenda.” “The Biden administration is breaking its word to the American public by ignoring the text of…

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IN-DEPTH: Job Creation, Budget Accounting Questioned in Massive Subsidies Given to VW

April 26, 2023
batteryBusiness & MarketsCanadaCompanieseconomic policiesst thomasVolkswagenVWWorld
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News Analysis One of Ottawa’s biggest selling points for its record subsidy to Volkswagen—which could top $13 billion—is the potential creation of tens of thousands of jobs. But leading public policy expert Jack Mintz is highly skeptical and also questions how the feds project to cover the cost of the new gigafactory in under five…

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Wall Street Opens Higher on Upbeat Microsoft, Boeing Results

April 26, 2023
Business & MarketsCompanieseconomic policieseconomyinflationMarketsMedia & Big TechrecessionstocksUS
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Wall Street’s main indexes opened higher on Wednesday as strong results from Microsoft and positive cash-flow forecast from Boeing offset concerns over rising interest rates and their effect on the U.S. economy. The Dow Jones Industrial Average rose 65.51 points, or 0.20 percent, at the open to 33,596.34. The S&P 500 opened higher by 16.15…

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US Regulators Say They Already Have Power to Crack Down on AI Misuse, Warn Firms to Comply With Laws

April 26, 2023
AIArtifical IntelligenceBusiness & MarketsChatGPTCompanieseconomic policiesPoliticsTechTech NewsUSUS News
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A number of federal government agencies said on April 25 that they have the power to prevent unlawful “bias in algorithms and technologies” marketed as artificial intelligence (AI). In a joint statement, four federal agencies —The Civil Rights Division of the United States Department of Justice, the Consumer Financial Protection Bureau (CFPB), the Federal Trade…

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Swedish Crown Softens After Market Sees Riksbank Dovishness, Euro Rebounds

April 26, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The Swedish crown weakened sharply on Wednesday after the country’s central bank was less hawkish than expected, while the euro rebounded from losses a day earlier when jitters about the U.S. banking sector helped the safe-haven dollar. The euro rose as much as 1.05 percent against the crown to 11.426, set for its biggest one-day…

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IN-DEPTH: US Debt Default Fears Spark Rising Unease Among Investors

April 26, 2023
Business & Marketscongressdebt ceilingdebt default swapeconomic policieseconomyExecutive BranchMarketsPoliticsUSUS News
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The cost of insuring exposure to United States sovereign debt rose on Wednesday to its highest level since 2011 after Treasury Secretary Janet Yellen warned that failure to lift the federal borrowing cap would trigger an economic catastrophe, suggesting investors are growing more nervous about the debt ceiling deadlock in Washington. Spreads on U.S. five-year…

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Stock Market Today: US Futures Subdued as Earnings Arrive

April 26, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsMedia & Big Techrecessionstocks
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Wall Street was slow to gain traction in premarket trading ahead of another full slate of corporate earnings and more economic data later in the week. Futures for the Dow ticked down less than 0.1 percent and the S&P 500 was essentially unchanged before the bell Wednesday. Shares of Activision Blizzard tumbled more than 11…

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LIVE 5 PM ET: NTD Business (April 25): GM ending production of Chevy bolt EV; First Republic Bank Shares Plummet nearly 50%

April 25, 2023
3MbidenBusiness & MarketsChatGPTchevy bolteconomic policieseconomyEpochTVFirst Republic BankGeneral MotorsInvestmentLive VideosMarketsNTD BusinessSilicon Valley BankUSVideo
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Shares of First Republic Bank plummeted today, after it revealed massive withdrawal of deposit in the last quarter, it’s also laying off workers. The cheapest American EV is going away. Stay tuned to find out why GM is ending the production. Manufacturing giant 3M announcing a major layoffs today—how many are they letting go, and…

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LIVE 5 PM ET: NTD Business (April 25): GM Ending Production of Chevy Bolt EV; First Republic Bank Shares Plummet Nearly 50 Percent

April 25, 2023
3MbidenBusiness & MarketsChatGPTchevy bolteconomic policieseconomyEpochTVFirst Republic BankGeneral MotorsInvestmentLive VideosMarketsNTD BusinessSilicon Valley BankUSVideo
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Shares of First Republic Bank plummeted Tuesday, after it revealed a massive withdrawal of deposits in the last quarter. It’s also laying off workers. The cheapest American EV is going away. Find out why GM is ending the production. Manufacturing giant 3M announced major layoffs Tuesday—how many are they letting go, and why? In its…

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Former Vice President Calls for Biden to Meet With House Speaker for Debt Ceiling Talks

April 25, 2023
budget proposalBusiness & Marketscongresseconomic policieseconomyExecutive BranchJoe BidenKevin McCarthyPolicies & ImpactsPoliticsU.S. Debt LimitUS
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Former Vice President Mike Pence attacked President Joe Biden for his unwillingness to negotiate with House Republicans over the lapsed debt ceiling talks. Pence called it “unconscionable” that the president would refuse to meet with Speaker Kevin McCarthy (R-Calif.) over the Federal debt. “We have an obligation to uphold the full faith and credit of American currency. The Constitution…

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