Federal Treasurer Josh Frydenberg says Australian businesses are keenly aware of the need to diversify trade away from China amid increasing strategic competition with the Chinese Communist Party (CCP). Frydenberg’s comments follow a speech he delivered last week, calling on Australian businesses to adopt a “China-plus” strategy, which would build on the strengths of existing…
Businesses ‘Waking up to the Fact’ They Must Diversify From China: Australian Treasurer
September 13, 2021
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Asia & PacificAustraliaaustralia-chinaBusiness & EconomyChinaChina-Australia RelationsEconomiesInternationalInternational Relationsjosh frydenbergWorld
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Major Supermarket Chain Warns Inflation Is About to Impact More Americans
An executive of Kroger, one of the largest supermarket chains in the United States, warned grocery prices are about to become even higher this year as inflation sets in. Inflation is running hotter than previously anticipated, and prices are slated to rise an additional 2 to 3 percent over the second half of 2021, Kroger…
Trading Tantrum? Fed Officials’ Personal Dealings Stir Controversy, Call for Change
September 11, 2021
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Business & EconomychangecontroversyDealingsEconomieseconomyEric RosengrenFedMarket WatchofficialsRobert KaplanUSUS News
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Media reports this week that two of the Federal Reserve’s 12 regional bank presidents were active traders has some of the central bank’s most vocal critics questioning the rules that allowed them to engage in the transactions in the first place. Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren made frequent or…
Small US Employers Frustrated by Biden’s COVID-19 Vaccine Mandate
September 11, 2021
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AMERICAbidenBusiness & EconomyCCP VirusCompaniesCOVID-19EconomieseconomyEmployersExecutive BranchmandatesPoliticsUSUS NewsVaccineVaccines & Safety
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Small employers like Bob Roth on Friday voiced frustration with U.S. President Joe Biden’s mandate that workers either get vaccinated or tested regularly to combat the spread of COVID-19. The co-owner of RoMan Manufacturing, a producer of transformers and glass-molding equipment in Grand Rapids, Michigan, supports vaccination but worries about increased costs, such as for…
Small Employers Frustrated by Biden’s COVID-19 Vaccine Mandate
September 11, 2021
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AMERICAbidenBusiness & EconomyCCP VirusCompaniesCOVID-19EconomieseconomyEmployersExecutive BranchmandatesPoliticsUSUS NewsVaccineVaccines & Safety
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Small employers like Bob Roth on Friday voiced frustration with President Joe Biden’s mandate that workers either get vaccinated or tested regularly to combat the spread of COVID-19. The co-owner of RoMan Manufacturing, a producer of transformers and glass-molding equipment in Grand Rapids, Michigan, supports vaccination but worries about increased costs, such as for testing…
US Democrats Propose Dramatic Expansion of EV Tax Credits That Favors Big Three
September 11, 2021
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Business & EconomyCompaniesCreditsDemocratsEconomieseconomyEVexpansionFordGMPoliticstaxTechUSUS Features
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WASHINGTON—U.S. Democratic lawmakers on Friday proposed an expansion of tax credits for electric vehicles that includes significantly higher subsidies for union-made zero emission models assembled in the United States. The proposal, a key part of President Joe Biden’s goal to ensure EVs comprise at least 50 percent of U.S. vehicle sales by 2030 and boost…
Democrats Propose Dramatic Expansion of EV Tax Credits That Favors Big Three
September 11, 2021
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Business & EconomyCompaniesCreditsDemocratsEconomieseconomyEVexpansionFordGMPoliticstaxTechUSUS Features
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WASHINGTON—Democratic lawmakers on Friday proposed an expansion of tax credits for electric vehicles that includes significantly higher subsidies for union-made zero emission models assembled in the United States. The proposal, a key part of President Joe Biden’s goal to ensure EVs comprise at least 50 percent of U.S. vehicle sales by 2030 and boost U.S….
Investors Eye Wobbling Energy Sector as Gauge for Delta Fears
September 11, 2021
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Business & EconomyCompaniesDeltaEconomieseconomyenergyInvestmentinvestorsLocal NewsMarketsNew YorkRegional-Local NewssectorUSUS News
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NEW YORK—Energy stocks are becoming a popular bellwether for concerns over how deeply the Delta variant of the coronavirus is expected to impact the U.S. economy, as the so-called reopening trade that boosted some parts of the market earlier this year continues to stumble. The S&P 500 energy sector is down 12.3 percent for the…
GM CFO Sees ‘More Stable’ Chip Supplies in 2022, Reaffirms 2021 Outlook
DETROIT—General Motors Co. Chief Financial Officer Paul Jacobson reaffirmed the automaker’s 2021 profit outlook and said the company expects a “more stable year” in 2022 for semiconductor supplies. Jacobson said during a conference call with investors that GM still expects to deliver pre-tax profits for 2021 in the range of $11.5 billion to $13.5 billion…
Producer Prices See Biggest Annual Surge on Record, Stoking Broader Inflation Concerns
Producer prices rose at their highest annual pace on record in August and slightly above expectations, with the newest inflation-related datapoint likely to reinforce broader concerns about rising prices as higher production costs tend to trickle down to consumers. The Labor Department said in a Sept. 10 statement that, for the 12 months ending in…
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