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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AustraliaBusiness & Marketseconomic policieseconomyinflationinterest ratesphilip lowerecessionReserve Bank of AustraliaWorld
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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…
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…
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…
Federal Commissioner: Supreme Court Ruling Will Crackdown on Corporations’ Left-Wing Programs
Following last week’s landmark Supreme Court ruling targeting affirmative action at U.S. colleges, a top federal commissioner predicted that companies and corporations will see an increasing number of lawsuits over controversial left-wing diversity, equity, and inclusion (DEI) programs; as well as the equally controversial environmental, social, and corporate governance (ESG) measures. “I think this is…
Federal Commissioner: Supreme Court Ruling Will Crack Down on Corporations’ Left-Wing Programs
Following last week’s landmark Supreme Court ruling targeting affirmative action at U.S. colleges, a top federal commissioner predicted that companies and corporations will see an increasing number of lawsuits over controversial left-wing diversity, equity, and inclusion (DEI) programs; as well as the equally controversial environmental, social, and corporate governance (ESG) measures. “I think this is…
Ex-US Treasury Secretary Issues Warning on New IRS Tax Proposal
The former Treasury secretary under the Reagan administration warned that Americans should remain “skeptical” about Internal Revenue Service (IRS) proposals, including a pilot program that would allow taxpayers to file their taxes directly with the federal agency, rather than using a service like TurboTax or H&R Block. “The effort would trust bureaucrats to become America’s…
Thousands of Hotel Workers Go on Strike in Southern California Over Rising Living Expenses
July 3, 2023
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Business & MarketsCaliforniaCompanieseconomic policieseconomyhotel workersinflationLos AngelesOrange CountyRegional & State NewsSocial IssuesSouthern CaliforniaState NewsstrikeUnite Here Local 11USUS News
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Thousands of Southern California hotel workers went on strike on the Fourth of July weekend for a new contract with higher wages and benefits, according to the employees’ union. Non-managerial hotel staff, including cooks, room attendants, dishwashers, servers, bellmen, and front desk workers, were seen picketing outside major hotels in Los Angeles and Orange counties as the…
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