SYDNEY/LONDON—Shares rose and the dollar firmed on Monday as investors bet the Federal Reserve would pause its rate hikes this month after a mostly encouraging U.S. jobs report, while oil prices jumped after Saudi Arabia pledged big output cuts. The benchmark European STOXX index climbed 0.18 percent in early trading, led by gains in the…
Shares Stroll Higher on June Hike Hiatus Hopes
June 5, 2023
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Airlines Say Ready to Avoid Repeat of Summer Travel Chaos
ISTANBUL—Airlines said on Sunday they are ready to avoid a repeat of last year’s travel chaos, but warned that some flights could still be disrupted by controller strikes and hit out at schemes that force them to pay compensation for unavoidable delays. “I am reasonably confident that we’ll be able to get through this peak…
US Opens Probe Into Freightliner Trucks Automatically Braking Without Obstacle in Road
DETROIT—The U.S. government’s highway safety agency is investigating complaints that the automatic emergency braking on big Freightliner semis can stop the trucks unexpectedly for no apparent reason. It’s at least the third recent investigation by the National Highway Traffic Safety Administration (NHTSA) into glitches with the technology, which has the potential to save lives because…
Nvidia to Build Israeli Supercomputer as AI Demand Soars
JERUSALEM—Nvidia Corp. said it was building Israel’s most powerful artificial intelligence (AI) supercomputer to meet soaring customer demand for AI applications. Nvidia, the world’s most valuable listed chip company, said on May 29 the cloud-based system would cost hundreds of millions of dollars and be partly operational by the end of 2023. Gilad Shainer, a…
Ford Motor Co. Sues Blue Cross Blue Shield in Antitrust Case Over ‘Astronomical’ Profit
Ford Motor Co. is suing Blue Cross Blue Shield Association in U.S. court, accusing it of a price-fixing conspiracy that caused the automaker to pay inflated costs for health insurance products for its employees. The lawsuit Ford filed in Detroit federal court on May 31 accused the insurer and its regional Michigan branch of unlawfully…
Environmentalist Group Calls on Banks to Set ‘Deforestation’ Targets
June 4, 2023
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AustraliaAustralian Conservation FoundationBusiness & MarketsCampbell NewmanCompanieseconomic policiesEnvironmentenvironmental activismenvironmental activistsenvironmentalismInternationalQueenslandScienceWorld
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The Australian Conservation Foundation (ACF) says banks should consider attaching “deforestation” conditions on loans in a proposal most likely to impact farmers. The ACF claimed that over 200,000 hectares of koala-inhabited habitat in Queensland, Australia, were destroyed in the past 10 years and that over 364,000 hectares of native vegetation were cleared from 2018 to…
Woke, Crony Capitalism Takes Hold Down Under
June 4, 2023
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AustraliaBusiness & Marketscancel cultureCompaniescrony capitalismeconomic policiesFeatured TopicsIndigenous Voice to ParliamentInternationalOpinionUSViewpointswoke capitalismWorld
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Commentary The corporate campaign backing a change to Australia’s Constitution is the latest installment in large business bludgeoning not just customers, but everyone, over woke causes. It’s a form of crony capitalism verging on fascism. It’s bad for the country, and it is bad for the government. Large companies are primed for it by the…
Ex-Target Executive Reveals the ‘One Item’ That Sparked Boycott Calls
A former Target executive claimed that there was one item that sparked widespread boycott calls against the big box chain. Former Target Vice Chairman Gerald Storch said in a Sunday interview with Fox News that a number of retailers, including Target, have sold pro-LGBT merchandise over the past several years and claimed that “everybody carries that…
Fox News Feels the Pain One Month After Tucker Carlson’s Exit
June 4, 2023
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2024 electionBusiness & MarketsCompaniesDonald TrumpFox NewsMedia & Big TechPoliticsRepublican CandidatesRepublicansTucker CarlsonUSUS News
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Fox News has seen its primetime ratings decline year-over-year in May since Tucker Carlson’s sudden departure about six weeks ago, according to an analysis. Nielsen ratings show that the network has seen a 37-percent year-over-year decline to 1.42 million during the primetime hours of 8 p.m. and 11 p.m., according to reports from Mediaite and…
NBC’s Chuck Todd Will Step Down as Host of ‘Meet the Press’
NBC News’ Chuck Todd announced he is stepping down as the host of Sunday’s “Meet the Press,” he announced on June 4. Todd has spent the past nine years as the moderator of the Sunday show, frequently interviewing politicians about various issues. His tenure will end at the end of the summer, Todd said. Replacing…
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