LONDON/SYDNEY—Global shares fell on Wednesday as fresh signs of China’s faltering economic recovery emerged, with traders awaiting U.S. Federal Reserve minutes and a key U.S. jobs report later in the week for clues to the central bank’s rate outlook. In quiet trade following the Independence Day holiday on Wall Street on Tuesday, European stocks slipped…
Shares Slip on China Growth Jitters as Fed Minutes Loom
July 5, 2023
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Biden Announces 2 Republican Nominees for FTC Positions
July 5, 2023
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President Joe Biden has announced plans to nominate Virginia Solicitor General Andrew Ferguson and Utah Solicitor General Melissa Holyoak to serve as Republican commissioners of the Federal Trade Commission (FTC). The White House announced the GOP nominations—part of a longstanding practice to include bipartisan membership—in a July 3 press release. Senate lawmakers will need to vote to confirm…
Online Marketplace for Companies Supporting Conservative Values to Go Public
A “parallel” online marketplace aiming to provide a solution for Americans who want to shop with businesses aligning with conservative values is looking to go public. Colombier Acquisition Corps, a publicly traded acquisition company, has announced plans to merge with online marketplace PublicSq, according to a June 30 press release. “We have witnessed the pronounced…
Yen Firms Amid Intervention Chatter, Trading Subdued on US Holiday
LONDON/SINGAPORE—The dollar fell slightly against the yen on Tuesday as markets remained on high alert for signs of Japanese intervention, but the broader market was placid with U.S. traders off for a public holiday. The greenback was down 0.18 percent at 1104 GMT to 144.44 yen, after rising 0.27 percent on Monday. However, the yen…
Oil Rises as Market Weighs Supply Cuts Against Gloomy Economic Outlook
LONDON—Oil prices ticked higher on Tuesday as markets weighed supply cuts for August by top exporters Saudi Arabia and Russia against a weak global economic outlook. Brent crude futures were up 85 cents, or 1.1 percent, to $75.50 a barrel at 0950 GMT. U.S. West Texas Intermediate crude was at $70.61 a barrel, up 82…
Stocks Drift as Investors Balance Peak Rate Hopes With Oil Price Rise
July 4, 2023
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LONDON/HONG KONG—Global stocks held steady on Tuesday, as investors balanced the inflationary force of rising oil prices with hopes that central banks would not over-tighten monetary policy into a potential recession. MSCI’s broadest index of world stocks, which rose almost 6 percent last month as the U.S. Federal Reserve paused its cycle of aggressive rate…
Reserve Bank of Australia Pauses Interest Rate Hike in July
July 4, 2023
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Australians have narrowly avoided a new round of interest rate hikes after the Reserve Bank of Australia (RBA) decided to keep the official cash rate unchanged in July. In its latest board meeting, the RBA announced that it would maintain the current official cash rate of 4.1 percent throughout July. The central bank said the…
New Guidelines Set to Boost Melbourne’s Night-Time Economy
The Andrews Labor government has lifted its freeze on late-night liquor licences in the inner-city municipalities of Melbourne, Port Phillip, Yarra and Stonnington to support Melbourne’s night-time economy. Anthony Carbines, the acting Minister for Casino, Gaming and Liquor Regulation, made the announcement on July 4, saying that it is in line with the government’s election…
Bidenomics: Big Government, Industrial Policy and Centralized Control
July 4, 2023
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With an eye toward the upcoming presidential elections, the White House has launched a new public relations campaign called “Bidenomics,” to define President Joe Biden’s economic agenda. “I don’t know what the hell that is, but it’s working,” Biden stated at a June 17 union rally in Philadelphia, begging the question: what is Bidenomics, and…
ANALYSIS: Bidenomics: Big Government, Industrial Policy and Centralized Control
July 4, 2023
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Biden InflationBidenomicsBusiness & MarketsDemocratseconomic policieseconomyenergyExecutive Branchindustrial policyinflationPoliticsReaganomicsUS
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With an eye toward the upcoming presidential elections, the White House has launched a new public relations campaign called “Bidenomics,” to define President Joe Biden’s economic agenda. “I don’t know what the hell that is, but it’s working,” Biden stated at a June 17 union rally in Philadelphia, begging the question: what is Bidenomics, and…
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