Tag: economic policies

Wall Street Opens Lower on Slowdown Worries After Jobless Claims Data

April 6, 2023
Business & Marketseconomic policieseconomyinflationMarketsrecessionstocksUS
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Wall Street’s main indexes opened lower on Thursday as a stronger-than-expected weekly jobless claims report pointed to growing signs that rapid interest rate hikes by the Federal Reserve was slowing down economic growth. The Dow Jones Industrial Average fell 61.76 points, or 0.18 percent, at the open to 33,420.96. The S&P 500 opened lower by…

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Government Should Seize Property to Build Wind and Solar Farms: JP Morgan Chief

April 6, 2023
Business & Marketsclimate changeCompaniesDimoneconomic policieseconomygreen energyJP MorganPoliticsUSUS News
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JP Morgan Chase & Co. CEO claimed that governments may need to seize private property for the creation of more green and conventional energy production sites, according to a letter to shareholders published this week. JP Morgan CEO and former head of the Federal Reserve Bank of New York Jamie Dimon wrote an extensive letter…

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Investors Should Be Worried About Debt Ceiling Deadlock: House Speaker

April 6, 2023
Business & Marketsdebt ceilingeconomic policieseconomyJoe BidenKevin McCarthyPoliticsUSUS News
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House Speaker Rep. Kevin McCarthy (R-Calif.) said Wednesday that investors should be worried about the deadlock in Washington over raising the debt ceiling as the United States inches closer to a possible debt default, which both Democrats and Republicans have warned would be terrible for the economy. McCarthy told Bloomberg TV in an interview Wednesday…

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Venture Capital Funding for Start-Ups Plummets, Fewest Deals in Five Years

April 6, 2023
Business & MarketsCompaniescryptocurrencyeconomic policieseconomyinflationInvestmentMarketsSilicon Valley BankstartupsstocksUSUS Newsventure capital
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Venture capital funding for start-ups plummeted by more than half in the first quarter of 2023 compared with the year before. The period saw a massive slowdown in the tech industry, as the number of new funding agreements fell to less than 3,000, a 55 percent decline and the lowest level in more than five years. American-based…

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Dollar Bobs Near 2-month Low Ahead of Pivotal US Jobs Data

April 6, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The dollar seesawed around two-month lows on Thursday, as traders weighed up how pivotal U.S. jobs data coming out on a stock trading holiday might impact Federal Reserve policy, and unleash a potentially volatile market reaction. The closely watched U.S. non-farm payrolls report on Friday, when many markets around the world are closed, will follow…

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Oil Heads for 3rd Weekly Gain After Shock OPEC+ Cuts

April 6, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil remained on track for weekly gains on Thursday, with further production cuts targeted by OPEC+ and a drop in U.S. oil inventories overshadowing fears over global economic growth. Brent and U.S. crude have both gained more than 6 percent this week, heading for a third weekly gain after the Organization of the Petroleum Exporting…

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Hawaii Considers Tourism Fee for State Parks, Trails

April 6, 2023
Business & Marketseconomic policiesFeeHawaiiPolicies & ImpactsRegional & State NewsState NewstourismUSUS News
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Hawaii lawmakers are weighing up a tourism fee for state parks and trails to fund the protection of its unique natural environment. Under the legislation, SB304 SD2, relating to “visitor impact fees,” the state could establish a program within the Department of Land and Natural Resources, to collect a fee from visitors aged 15 or over if…

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World Stocks Dither, Bond Yields Fall as Recession Worries Weigh

April 6, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON/TOKYO—Global stocks drifted on Thursday, following skittish trade in the Asian session, as traders awaited crucial U.S. jobs data that may add to mounting evidence of a U.S. slowdown and the likelihood of a global recession. The broad MSCI index of world stocks dipped 0.1 percent, putting it on track for its first weekly decline…

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Signature Bank Executives Allegedly Sold $100 Million in Stock During Crypto Surge: WSJ

April 6, 2023
Business & MarketsCompanieseconomic policieseconomyinsider salesInvestmentJudiciaryMarketsSignature BankUS
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Executives and directors at the recently failed Signature Bank allegedly sold more than $100 million in stock during the crypto boom. Senior bank insiders have been accused of participating in this scheme for three years leading up to the bank’s collapse in early March, according an analysis by The Wall Street Journal. Signature Bank collapsed on…

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Treasury Department and IRS Issue Guidance for Bonus Tax Credit for Fossil Fuel Communities

April 5, 2023
BrightBusiness & MarketscoalcongressDemocratseconomic policieseconomyenergyExecutive Branchgreen energyInflation Reduction Actpersonal financePolicies & ImpactsPoliticsRegional & State NewsRegional NewstaxUSWealth Management
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The Biden administration issued final guidance on the bonus tax credit for American communities dependent on fossil fuels. The new rules, issued by the Department of the Treasury and the Internal Revenue Service on April 4, will allow “green” energy companies to secure additional tax credits when investing in local communities economically tied to oil and coal extraction….

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