Tag: economic policies

3M to Cut 6,000 Positions Globally to Improve Cash Flow

April 25, 2023
3MBusiness & MarketsCompanieseconomic policieseconomyinflationlayoffsMarketsrecessionUSUS News
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3M Co said on Tuesday it would cut about 6,000 positions globally as the U.S. industrial conglomerate looks to focus on high-growth businesses, including automotive electrification and home improvement. The move comes as an uncertain economy along with rising interest rates and stubbornly high inflation forces corporate America to get leaner in recent months. 3M,…

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UK Targets Subscription Traps and Fake Online Reviews With New Law

April 25, 2023
Business & MarketsCompanieseconomic policiesKevin HollinrakeMedia & Big TechsubscriptionTechTech NewsUKWorld
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Digital platforms could be hit with huge fines for failing to protect consumers from subscription traps and online scams, a new UK regulator has said. The Digital Markets Unit (DMU) will be given new powers to ensure that online customers and businesses are not unfairly disadvantaged by the biggest players. Firms deemed to have “strategic…

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Dollar Higher on Earnings, Economy Worries; Euro Slips

April 25, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The dollar rose on Tuesday as worries about earnings and the outlook for the global economy deepened, which knocked the euro back from close to a 10-month high. The U.S. dollar index was last up around 0.2 percent at 101.37, having dropped over 3.3 percent since the beginning of March. News on Monday of plunging…

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Oil Edges up on China Demand Optimism, US Inventories in Focus

April 25, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil edged higher on Tuesday, on track for a third day of gains, supported by investor optimism that holiday travel in China would boost fuel demand and by expectations U.S. inventories would show a drop in crude stocks. Bookings in China for trips abroad during the upcoming May Day holiday point to a continued recovery…

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Stocks Fall, Dollar Gains Await Earnings Litmus Test

April 25, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsMedia & Big Techrecessionstocks
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LONDON—Stocks fell on Tuesday, while the dollar got a lift as investors prepared for corporate earnings and macro data this week to paint a clearer picture of the health of the global economy. Last week’s U.S. bank earnings came in stronger than expected, and this week brings results for Big Tech and a number of…

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ANALYSIS: Debt Ceiling Is High Stakes, and a GOP Opportunity

April 25, 2023
118th CongressBusiness & MarketsBusiness Columnistsdebt ceilingDemocratseconomic policieseconomyGOP - RepublicansPoliticsRepublicansU.S. politicsUS
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House Speaker Kevin McCarthy has thrown down the gauntlet at President Joe Biden and the Democrats over the debt ceiling. McCarthy has said he will extend the debt ceiling through May 2024, to $32.9 trillion, but only if the president and Congressional Democrats agree to: return roughly $50 to $60 billion of  unspent COVID-19 funding…

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White House Warns of Biden Veto if Congress Restores Solar Panel Tariffs Targeting China

April 24, 2023
2022 Midterm ElectionsbidenBusiness & MarketsChinaClimate PoliciescongressDemocratseconomic policieseconomyenergyEnvironmentExecutive BranchFinance & Business TiesGlobal ExpansionInfiltrating the WestInternational RelationsInvestmentNational SecurityPolicies & ImpactsPoliticsRepublicansScienceSOLARSpecial TopicsTech CompetitiontechnologyThreat from Communist ChinaUSUS NewsUS-China relationsvetoWorld
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President Joe Biden is set to veto a joint resolution targeting his solar panel rule, which temporarily protects some Chinese-made equipment from tariffs, the White House warned. “This rule is necessary to satisfy the demand for reliable and clean energy while ensuring Commerce is able to rigorously enforce U.S. trade laws, hold trading partners accountable,…

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IN-DEPTH: New Climate Justice Policies Will Bring ‘Energy Poverty’ to Americans, Economists Say

April 24, 2023
Business & Marketsclimate justiceeconomic policiesenergyEnergy policyenergy povertyEnvironmental Protection AgencyEVsinflation
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As President Joe Biden issues an executive order for all federal agencies to pursue what he calls “climate justice” and simultaneously advances regulations to force Americans to transition to wind and solar energy and electric vehicles (EVs), critics say that these same policies also foster child labor in Africa, feature enormous wealth transfers from the…

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ANALYSIS: New Climate Justice Policies Will Bring ‘Energy Poverty’ to Americans, Economists Say

April 24, 2023
Business & Marketsclimate justiceeconomic policiesenergyEnergy policyenergy povertyEnvironmental Protection AgencyEVsinflation
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News analysis As President Joe Biden issues an executive order for all federal agencies to pursue what he calls “climate justice” and simultaneously advances regulations to force Americans to transition to wind and solar energy and electric vehicles (EVs), critics say that these same policies also foster child labor in Africa, feature enormous wealth transfers…

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Digital Dollar Could Pose ‘Significant Risks’ to Americans’ Freedom, Fed Official Warns

April 24, 2023
Business & MarketsCBDCeconomic policieseconomyFederal ReserveMichelle BowmanPolicies & ImpactsUSUS News
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Central bank digital currencies (CBDCs) might pose “significant risks, challenges, and tradeoffs,” warned Federal Reserve governor Michelle Bowman in a recent speech. It has been about a year since President Joe Biden signed an executive order that directed the federal government to examine the technological infrastructure and capacity for establishing a CBDC. Since then, the…

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