Commentary At two minutes to midnight, Australians are finally being offered something that at least resembles a debate about the social and economic consequences of a net-zero emissions target. The Coalition government and advocates of a net-zero emissions by 2050 target know that the easiest way to win a debate is to simply not have…
The Mirage of a Clean Energy Jobs Boon in Australia
October 21, 2021
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AustraliaAustralian governmentBusiness & Economyclean energyclimate changeEconomiesGreen jobsnet-zero emissionsOpinionViewpointsWorld
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US Takes Aim at China’s ‘Unfair Trade Practices’ at WTO Review
October 20, 2021
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Business & EconomyChinaChina Business & EconomyEconomiesInternational RelationsLiberaliseMarketstradingUSUS NewsUS-China relations
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GENEVA—The United States said on Wednesday that China’s industrial policies “skew the playing field” against imported goods and services, as well as their foreign providers, and that Washington would pursue all means to secure reforms. In addition to industrial subsidies, other “unfair trade practices” include preferential treatment for state enterprises, data restrictions, inadequate enforcement of…
Australia Lays Bare Beijing’s Coercive Trade Policy at WTO
October 20, 2021
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Asia & PacificAustraliaaustralia-chinaAustralia-China tradeBusiness & EconomyChinaChina-Australia RelationsDan Tehaneconomic coercionEconomiesInternationalInternational RelationsWorldWTO
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Australian diplomats have issued a strongly worded statement criticising Beijing’s use of economic coercion and warning that its behaviour could undermine the global trading system. Australia’s ambassador to the World Trade Organisation (WTO), George Mina, released the statement as part of the global body’s regular Trade Policy Review process. It said that while increased engagement…
Democrats Raise Proposed IRS Bank Reporting Threshold to $10,000 From $600
WASHINGTON—Senior Democrats in Congress have agreed to raise their proposed tax reporting threshold for bank account inflows and outflows to $10,000 a year, with exemptions for wage income, from an earlier proposal of $600 that drew criticism for being too intrusive. Senate Finance Committee Chairman Ron Wyden on Tuesday said the new $10,000 Internal Revenue…
US Workers Face Job Losses as COVID-19 Vaccine Mandates Kick In
October 20, 2021
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AMERICABusiness & EconomyCCP VirusEconomieseconomySocial IssuesUSUS NewsUSAvaccinationVaccines & Safety
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Thousands of unvaccinated workers across the United States are facing potential job losses as a growing number of states, cities, and private companies start to enforce mandates for inoculation against COVID-19. In the latest high-profile example, Washington State University (WSU) fired its head football coach and four of his assistants on Monday for failing to…
Pandemic Fallout Could Slow US Online Holiday Spending Growth: Report
U.S. online holiday spending is expected to grow at its slowest pace in at least eight years, as product shortages, higher prices, and lingering pandemic-related uncertainties threaten to put a strain on the shopping season. Adobe Analytics forecast an average 10 percent growth or $207 billion in online sales in November and December, compared with…
UK May Have to Raise Taxes to Pay for Net-Zero Pledges: Treasury
The British government may have to consider raising taxes to pay for the cost of its pledge to reach “net zero” greenhouse gas emissions by 2050, according to a Treasury report published on Tuesday. In June 2019, the UK government passed legislation committing itself to achieve net-zero by 2050, in order to deliver on the…
United Airlines Posts Smaller Loss, Sees Recovery From Pandemic Gaining Traction
October 20, 2021
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Business & EconomyCompaniesEconomieseconomyIllinoisLocal NewslossMarketspandemicRecoveryRegional-Local NewsUnited AirlinesUSUS News
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CHICAGO—United Airlines Holdings on Tuesday reported a smaller quarterly loss than a year ago, but a resurgence in coronavirus cases slowed bookings and drove up cancellations, upending the carrier’s plan to return to profit. Chief Executive Scott Kirby, however, said recent headwinds the airline has faced are “turning to tailwinds.” United said it expects revenue…
US Economy Seen Slowing As Atlanta Fed Cuts 3Q GDP Estimate
News Analysis The Federal Reserve Bank of Atlanta cut its forecast for real GDP growth in the third quarter of 2021, suggesting that the United States is barely expanding and could be on the cusp of contraction. According to the Atlanta Fed’s GDPNow model, the U.S. economy is projected to grow at a seasonally adjusted…
Canada’s Inflation Rate Hits 18-Year High, Puts Focus on Central Bank Rate Policy
OTTAWA—Canada’s annual inflation rate accelerated to an 18-year-high in September, driven by high gas prices, soaring housing costs, and rising food prices, data showed on Wednesday, putting the focus on the Bank of Canada ahead of a rate decision next week. Inflation increased to 4.4 percent, beating the average analyst estimate of 4.3 percent, to…
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