LONDON—Global shares were steady on Friday as investors scrutinized inflation data from both sides of the Atlantic to cap a rollercoaster quarter for markets that upended bets on interest rates peaking. Oil was poised for its first monthly gain this year, as a big drawdown in U.S. oil stocks outweighed concerns that fuel demand will…
Stocks Show Resilience to Wall of Rates and Inflation Worries
June 30, 2023
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DeSantis Signs Bill That Could See Radioactive Mining Byproduct Used in Roads
Gov. Ron DeSantis on Thursday signed a bill that allows the Florida Department of Transportation to conduct a feasibility study to determine if the radioactive byproduct of phosphate mining can be used as a construction aggregate material for roads. The new law adds phosphogypsum to the list of “recyclable materials” that can be used as road construction…
Expiry Dates, Restrictions Benefits of Central Bank Digital Currencies, Economist Tells WEF
Expiry dates and restrictions on “less desirable” purchases are some of the key advantages behind central bank digital currencies (CBDCs), according to an economist at a World Economic Forum (WEF) event. The WEF hosted the 14th annual Meeting of the New Champions in Tianjin, China, also known as Summer Davos. During one of the 30-minute…
CBDCs With Expiration Dates, Restrictions Could Target Social Policies, Economist Tells WEF
Expiry dates and restrictions on “less desirable” purchases are some of the key advantages behind central bank digital currencies (CBDCs), according to an economist at a World Economic Forum (WEF) event. The WEF hosted the 14th annual Meeting of the New Champions in Tianjin, China, also known as Summer Davos. During one of the 30-minute…
IRS Sends Special Notice to Taxpayers in Eight States
The Internal Revenue Service (IRS) has sent out a special mailing to taxpayers in disaster-affected areas, letting them know they have more time to pay their taxes. The IRS said in a statement Thursday that the special mailing was being sent out to California and seven other states as a follow-up clarification after an earlier…
IRS Sends Taxpayers In Disaster Areas Special Notice About Taxes Owed
The Internal Revenue Service (IRS) has sent out a special mailing to taxpayers in disaster-affected areas, letting them know they have more time to pay their taxes. The IRS said in a statement Thursday that the special mailing was being sent out to California and seven other states as a follow-up clarification after an earlier…
Bed Bath & Beyond Lives On!(line). Overstock.com Buys Rights to Bankrupt Retailer and Changes Name
NEW YORK—Bed & Bath & Beyond will live on, online at least, after Overstock.com acquired the bankrupt retail chain’s intellectual property assets for $21.5 million. The online retailer Overstock.com is dumping its name online and will become Bed & Bath & Beyond, which declared bankruptcy earlier this year. Overstock.com’s CEO Jonathan Johnson told The Associated…
Johnson & Johnson’s $8.9 Billion Talc Settlement Faces US Bankruptcy Test
Johnson & Johnson’s proposed $8.9 billion settlement of thousands of lawsuits alleging that its talc products cause cancer faces a crucial hurdle this week as a U.S. bankruptcy judge in New Jersey considers whether or not a J&J subsidiary may resolve them by filing for bankruptcy a second time. J&J subsidiary LTL Management’s first attempt…
China’s Industrial Profits Tumble, Deepening Economic Gloom
BEIJING—Annual profits at China’s industrial firms extended a double-digit decline in the first five months as softening demand squeezed margins, reinforcing hopes of more policy support to bolster a stuttering post-COVID economic recovery. The 18.8 percent year-on-year slump in profits came on top of the 20.6 percent contraction in January-April, and added to evidence of…
Warren Buffett’s Firm Buys More Occidental Petroleum and Now Owns More Than 25 Percent of the Oil Producer
OMAHA, Neb.—Billionaire Warren Buffett’s company keeps buying shares of Occidental Petroleum, and Berkshire Hathaway now controls more than 25 percent of the oil producer. A new filing with the Securities and Exchange Commission shows that Berkshire bought another 2.1 million Occidental shares this week worth about $123 million. The latest purchases give Berkshire more than…
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