Tag: economic policies

Oil Stable as Market Weighs Tight Supply Against US Recession Risk

April 13, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices were stable on Thursday as the market weighed the prospect of tight supply against possible recession in the United States, the world’s largest oil consumer. Brent crude fell 7 cents, or 0.08 percent, to $87.26 a barrel by 0935 GMT. U.S. West Texas Intermediate (WTI) was unchanged at $83.26. Both benchmarks had risen…

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Republican Leader Calls for Urgent Vote on ‘Strong’ Debt Limit Bill in April

April 13, 2023
Business & Marketscongressdebt limitDemocratseconomic policieseconomyExecutive BranchPoliticsRepublicanRepublicansspendingUSUS News
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A senior House Republican leader said Wednesday that passing a “strong” debt limit bill should be the GOP’s top legislative priority and called for a vote on the measure in April, arguing that “the time for action is now.” Rep. Kevin Hern (R-Okla.), who chairs the Republican Study Committee (RSC), set the end-of-month deadline for…

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Stocks and Gold Cheer US Inflation Picture, While Dollar Slides

April 13, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global shares rose on Thursday, while the dollar held near two-month lows after U.S. inflation data suggested the Federal Reserve may soon be finished raising interest rates, which in turn kept gold above $2,000 an ounce. The euro hit a 2–1/2 month high at $1.103. Investors are positive on Europe, where blue-chip stocks hit a…

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Banking Turmoil Caused by SVB Mismanagement, Not Trump-Era Rollbacks: FDIC Official

April 12, 2023
Business & MarketsCompaniesDonald Trumpeconomic policieseconomyFDICPolicies & ImpactsSilicon Valley BankUSUS News
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Former President Donald Trump’s loosening of rules in the banking sector in 2018 “had nothing to do with” the failure of Silicon Valley Bank and Signature Bank, according to Federal Deposit Insurance Corporation (FDIC) Vice Chairman Travis Hill. Since the collapse of SVB and Signature Bank, a chorus of Democrats have asserted that the former…

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Biden EPA’s New Vehicle Emissions Standards Sparks Backlash From Auto Industry, Republicans

April 12, 2023
Business & MarketsCompaniescongressDemocratseconomic policieseconomyelectric vehicleemissionsenergyEnvironmentEPAExecutive BranchPolicies & ImpactsPoliticsRepublicansScienceScience NewsSocial IssuesTechUSUS News
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The Environmental Protection Agency’s proposed emissions standards for automobiles and trucks are raising eyebrows in the auto industry and Washington alike. “EPA’s proposed emissions plan is aggressive by any measure. By that I mean it sets automotive electrification goals in the next few years that are … very high,” John Bozzella, president and CEO of…

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Biden EPA’s New Vehicle Emissions Standards Spark Backlash From Auto Industry, Republicans

April 12, 2023
Business & MarketsCompaniescongressDemocratseconomic policieseconomyelectric vehicleemissionsenergyEnvironmentEPAExecutive BranchPolicies & ImpactsPoliticsRepublicansScienceScience NewsSocial IssuesTechUSUS News
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The Environmental Protection Agency’s proposed emissions standards for automobiles and trucks are raising eyebrows in the auto industry and Washington alike. “EPA’s proposed emissions plan is aggressive by any measure. By that I mean it sets automotive electrification goals in the next few years that are … very high,” John Bozzella, president and CEO of…

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Rep. Jordan Subpoenas FTC Over Twitter, Musk Investigation

April 12, 2023
Big Tech, Censorship, and SocialismBusiness & Marketscancel cultureCompaniescongressDemocratseconomic policieseconomyExecutive BranchFeatured TopicsFTCJordanMarketsMedia & Big TechMuskPolicies & ImpactsPoliticsRepublicansTwitterUSUS NewsWorld
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Rep. Jim Jordan (R-Ohio) on April 12 subpoenaed Chair Lina Khan of the Federal Trade Commission, stepping up the conflict between that agency and House Republicans regarding its approach to Twitter in the Elon Musk era. The Epoch Times has reviewed the subpoena. The subpoena comes after a March 10 letter to Khan from Jordan,…

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Bank of Canada Expects Canada to Avoid Recession, Some Economists Skeptical

April 12, 2023
Bank of CanadaBusiness & MarketsCanadaeconomic policiesinflationMacklemrecessionWorld
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News Analysis OTTAWA—Now is the time when the full effect of the Bank of Canada’s earliest interest rate hikes in 2022 are starting to take effect. While Canada’s central bank was caught off guard by a surprisingly strong first quarter of economic growth, it expects much weaker albeit slightly positive growth for the rest of…

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Banks Spend Billions on Climate, Racial Equity

April 12, 2023
Bank of Americabanking crisisBusiness & MarketsCitibankCompanieseconomic policiesenergyESGJPMorgan Chasepersonal financeSocial IssuesUSWells Fargo
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In this year’s annual reports to shareholders, America’s largest banks proclaimed their allegiance to climate activism, racial equity, and other progressive causes, spending billions in shareholders’ money to support this agenda. Similar in vein to BlackRock CEO Larry Fink’s annual letter, which often pushed other CEOs to get in line with initiatives like renewable energy,…

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Global Debt Projected to Reach 100 Percent of GDP: IMF

April 12, 2023
Business & Marketsdebteconomic policieseconomyFiscal MonitorIMFInternationalUSWorld
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Global public debt is expected to surge faster than prior to the coronavirus pandemic, and will keep rising over the next few years, according to a new report from the International Monetary Fund (IMF). In the organization’s latest Fiscal Monitor report, economists stated that international government debt has tumbled briefly as exorbitant pandemic-era fiscal and…

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