The Australian centre-left federal government has backed a minimum wage increase for the country’s workers arguing that pay rates “should not go backwards.” The submission from the government comes in a bid to help Australians cope with rising cost of living pressures including inflation rates of 5.1 percent, with the Reserve Bank of Australia estimating…
Australia’s Labor Government Backs Minimum Wage Increase to Combat Cost of Living
June 3, 2022
admin
anthony albaneseAustraliaBusiness & Economyeconomic policieseconomyInternationalminimum wageTony BurkeWorld
0 Comment
Here’s What Analysts Had to Say About HP Post Q2 Results
Analysts remained cautious about HP Inc. post Q2 results. Barclays analyst Tim Long maintained HP with an Underweight and raised the price target from $29 to $32. HP beat 2Q, driven by commercial and premium PC growth (primarily higher ASPs), while the Print segment was largely in-line. HP modestly raised the FY22 EPS guidance midpoint. Long remains wary of PC growth,…
US Firms Show First Hints of Impact of Fed’s Policy Tightening, Survey Shows
The economy in the majority of regions in the United States expanded at a modest or moderate growth pace in April through late May and there were some tentative signs that the Federal Reserve’s actions to cool demand were beginning to be felt, a Fed report showed on Wednesday. The latest temperature check on the…
Japan’s Toshiba Receives 8 Proposals to Go Private
TOKYO—Toshiba Corp., the troubled Japanese conglomerate exploring strategic options, said it has received eight initial proposals to take it private as well as two proposals for capital alliances that would see it remain listed. The news comes amid recent signs that Toshiba, which has long been at loggerheads with its large activist shareholder base, is…
Biden Administration Considering Proposal to Tax Oil, Gas Windfall Profits
June 2, 2022
admin
Biden administration energy policiesBusiness & Economycommoditieseconomic policieseconomygasoline taxMarketsPolicies & ImpactsPoliticsUS
0 Comment
The Biden administration is considering a proposal to tax oil and gas windfall profits to provide a gas subsidy for American consumers struggling with high energy prices, said Bharat Ramamurti, deputy director of the National Economic Council at a panel sponsored by the Roosevelt Institute think tank on June 2. The news follows a similar move…
South Australian Budget to Deliver Cost of Living Relief
June 2, 2022
admin
AustraliaBusiness & Economycost of livingDavid SpeirseconomySouth Australiastate budgetStephen MullighanWorld
0 Comment
The South Australian (SA) Labor government’s first State Budget will deliver cost of living relief to residents most in need as rising day-to-day expenses and high inflation continue to exert pressure. However, the Opposition argues that the Budget doesn’t include enough relief for households. Delivered on Thursday, the 2022-23 Budget will benefit pensioners and other…
ADP Reports Underwhelming Job Figures
ADP on Thursday released its monthly nonfarm payroll report, which indicated a month of underwhelming job creation in May that fell short of expectations but continued a pattern of diminishing returns in the labor market for the past several months. In its most recent monthly employment report, ADP relayed a net gain of 128,000 nonfarm…
US Productivity Plunges to Its Slowest Rate Since 1947 as Labor Costs Soar
United States labor productivity tumbled in the first quarter, to its slowest rate since 1947, while unit labor costs soared, according to a U.S. Bureau of Labor Statistics report released June 2. A surge in unit labor costs and hourly compensation in first quarter 2022 was reflected in a steep drop in productivity. Wages continued to…
GOP Lawmakers Question Biden’s Depletion of Oil Reserves As China ‘Rapidly Strengthens Energy Ties’ With Russia
June 2, 2022
admin
Business & EconomyChinaExecutive BranchInternationalNational SecurityPoliticsRussiaUnited StatesUSUS-China relationsWorld
0 Comment
Republicans on the House Committee on Energy and Commerce have raised concerns about how the Biden administration’s oil reserve releases may impact U.S. national security. Rep. Cathy McMorris Rodgers (R-Wa.), the leading Republican lawmaker on the House Committee on Energy and Commerce, and Rep. Fred Upton (R.-Mich.), the top Republican on the Subcommittee on Energy, said…
FDA Being Audited for Handling of Baby Formula Investigation
A federal watchdog on June 2 announced an investigation into the U.S. Food and Drug Administration (FDA) over its response to problems at a baby formula factory. “We will determine whether FDA followed the inspections and recall process for infant formula in accordance with Federal requirements,” the U.S. Department of Health and Human Services Office…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`