LONDON—Global stocks rose and the dollar eased on Tuesday, after a deal backed by the U.S. regulator for First Citizens BancShares to buy up Silicon Valley Bank soothed some of the recent concern about the health of the banking sector. U.S. banking regulators said on Monday they planned to tell Congress that the overall financial…
Stocks Rise After Bank Sale Fuels Investor Risk Appetite
March 28, 2023
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Hundreds of Businesses, Non-Profits Call on Congress to Expedite Federal Infrastructure Permits
March 28, 2023
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The U.S. Chamber of Commerce, along with 350 business organizations, have called on Congress to modernize America’s permitting processes to make way for building the infrastructure of the future. In a letter addressed to congressional leaders, the group expressed their frustration with the outdated, inefficient, and unpredictable permitting process that has hindered the development of…
Dispute That Led to Mexico Seizing American-Owned Port ‘Not Unprecedented’: Expert
March 28, 2023
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The Mexican military has vacated a port in Mexico owned by Vulcan Materials Company of Birmingham, Alabama, according to a U.S. senator. “I am happy to hear that Mexican governmental forces have now heeded our request to withdraw from Vulcan’s port facility, following a nearly two-week unlawful takeover,” Sen. Katie Britt (R-Ala.) said in a…
Climate Safeguard Mechanism Will ‘Stifle’ Gas Industry, Warned Shadow Foreign Affairs Minister
Australian businesses, and especially the gas industry, will suffer under the climate safeguard mechanism, Shadow Foreign Affairs Minister Simon Birmingham has warned. The safeguard mechanism, which was initiated by the centre-right Coalition but is being overhauled by the centre-left Labor, requires the 215 facilities that annually produce over 100,000 tonnes of greenhouse gases to limit…
US, Japan Strike Trade Deal on Electric Vehicle Battery Minerals
March 27, 2023
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The United States and Japan on Tuesday announced a trade deal on electric vehicle battery minerals that is key to strengthening their battery supply chains and granting Japanese automakers wider access to a new $7,500 U.S. EV tax credit. The swiftly negotiated agreement prohibits the two countries from enacting bilateral export restrictions on the minerals…
Queensland to Cap Rent Increases to Once a Year
March 27, 2023
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Landlords will only be allowed to increase rents once a year under a proposal by the Queensland Labor government. Premier Annastacia Palaszczuk made the announcement prior to the second Housing Summit on March 28, which brings the state in line with Victoria and South Australia. “Today we’re taking action to give people who are renting…
Economists Expect US Recession, Inflation Above Fed Target This Year
March 27, 2023
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Economists predict that the United States will likely enter a recession by the end of this year, with high inflation extending well into 2024, according to a recent semiannual survey. The March 2023 National Association for Business Economics (NABE) Economic Policy Survey published the responses of 217 members of the organization in a March 27 report….
House Unanimously Passes Bill Stripping China of ‘Developing Nation’ Status
March 27, 2023
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The House of Representatives has passed a bipartisan bill to strip communist China of its international status as a developing nation, thereby limiting the regime’s access to certain aid from the United States and other nations. H.R. 1107, colloquially referred to as the “PRC is Not a Developing Country Act,” aims to ensure that China’s…
ANZ CEO: Banking Turmoil Has Potential to Trigger Financial Crisis
SYDNEY—Australia and New Zealand Banking Group’s CEO said on Monday the latest turmoil in the global banking system had the potential to trigger a financial crisis though it was early to predict it could bring one similar to that in 2008. Authorities around the world are on high alert for the fallout from the recent…
Wall Street Opens Higher as SVB Deal Eases Bank Crisis Worries
Wall Street’s main indexes opened higher on Monday after a buyout deal for the deposits and loans of the failed Silicon Valley Bank calmed nerves about stress in the banking sector. The Dow Jones Industrial Average rose 39.19 points, or 0.12 percent, at the open to 32,276.72. The S&P 500 opened higher by 11.94 points,…
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