Wall Street’s main indexes opened lower on Wednesday as Federal Reserve Chair Jerome Powell remained firm in bringing inflation back to 2 percent target, spurring worries of more monetary tightening. The Dow Jones Industrial Average fell 63.31 points, or 0.19 percent, at the open to 33,990.56. The S&P 500 opened lower by 8.70 points, or…
Stocks Uneasy in Case Powell Embraces His Inner Hawk
June 21, 2023
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SYDNEY/LONDON—Stocks slipped on Wednesday on negative news including a lack of new stimulus from Beijing, bearish British inflation data, and a further slump in European real estate, as markets await direction from Federal Reserve Chair Jerome Powell. The world’s most powerful central banker faces lawmakers in two days of testimony and is sure to be…
Elon Musk Hints at ‘Significant Investment’ in India After Meeting Modi
Tesla CEO Elon Musk has signaled interest in making a “significant investment” in the world’s most populous country, India, after meeting with Indian Prime Minister Narendra Modi in New York on Tuesday. Musk told reporters that he had an “excellent conversation” with Modi and suggested that he would bring his electric vehicle manufacturing business to…
US Industrial Production Unexpectedly Falls in May After 2 Months of Gains
June 21, 2023
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Business & MarketsCompanieseconomic policieseconomyIndustrial ProductioninflationInvestmentmanufacturing outputMarketsU.S. factoriesUSUS News
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U.S. industrial production unexpectedly slipped in May, after two months of gains. Factories in the mid-Atlantic region saw a decline in activity for the first time since 2021 in June, according to the Federal Reserve Bank of Philadelphia. Production fell 0.2 percent last month, as manufacturing struggled under the weight of higher interest rates, after…
Nearly 80 Percent of Australians Want PwC Banned From Government Contracts: Survey
A majority of Australians want consulting firm PricewaterhouseCoopers (PwC) to be banned from government contracts following the revelations the company used confidential government information to create products that allegedly allowed clients to not pay tax. According to research released on June 20 by the Australia Institute, 79 percent or four in five Australians want the consulting…
Democrat Attorneys General Respond to Target Boycott Over ‘Pride Month’ Items
Democrat prosecutors sent a letter to Target Corp. after it removed some of its “Pride Month” merchandise last month in the midst of boycotts. A coalition of 15 Democrat attorneys general sent a letter to Target CEO Brian Cornell, saying that the decision to pull LGBT products—including clothing for small children—is a setback for the…
Google Hit With Lawsuit Over Monopoly Allegations
Google and its parent company Alphabet have been sued by the publisher of USA Today over allegations that the tech giant abused its dominant position in the advertising technology market. Gannett Co., which owns over 500 digital news and media brands, said in a complaint filed Tuesday that Google’s monopolistic control of how publishers sell…
Planned Parenthood CEO Wants Insurance Firms to Fund and Promote Elective Abortions
June 20, 2023
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The CEO of the United States’ largest abortion provider is pushing for insurance companies to fund and become advocates for elective abortions. Alexis McGill Johnson, the CEO of Planned Parenthood Federation of America, wants insurance firms to include abortion without deductibles in their health plans, she said in a recent interview with MedCity News at the…
Russian Hacking Group Claims Execution of Reddit Attack, Threatens Leaking Censorship Data
Social media site Reddit reported a hacking incident for which the ALPHV Russian ransomware group has now claimed to be the perpetrator. The group threatens to leak censorship and other sensitive, stolen information in relation to Reddit if the company does not pay $4.5 million. Reddit had reported the data breach on February after an…
Johnsonville Recalls Over 42,000 Pounds of Sausages Over Possible Contamination
Sausage maker Johnsonville is issuing a voluntary recall of more than 42,000 pounds of its ready-to-eat “Beddar With Chedder” sausages because of possible contamination with extraneous materials. The pork sausage links may include very thin strands of black, plastic fibers, according to the US Department of Agriculture’s Food Safety and Inspection Service (FSIS). The affected pork…
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