SINGAPORE/LONDON—The yen was under pressure against most other major currencies on Wednesday, even as Japanese authorities said they could intervene to prop it up, while the Aussie dollar dropped after data showed inflation eased in May. Market expectations that the Bank of Japan (BOJ) will keep interest rates ultra-low, while other central banks tighten monetary…
European Shares Climb, Yen Stumbles and Euro Shines
June 28, 2023
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LONDON/SYDNEY—European shares climbed on Wednesday as surprisingly upbeat U.S. economic news eased global growth concerns, while the embattled yen hit a 15-year low against the euro and Japan hinted at intervention to prevent further losses. Treasury yields inched higher on the strength of U.S. data, combined with hawkish commentary emerging from Portugal at a gathering…
New York Drivers to Be Charged to Enter Lower Manhattan in 2024
June 28, 2023
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Drivers in New York City will soon be charged to enter Manhattan, marking a win for environmental activists who say the move will help reduce congestion and improve air quality, but raising concerns over the impact on business owners, including taxi drivers. Announcing the news in a June 27 press release, Gov. Kathy Hochul, a Democrat,…
Petrol, Diesel Drivers Could Be Charged Special Fee to Enter Australia’s Capital
June 28, 2023
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Authorities in Canberra have not ruled out charging petrol and diesel car drivers a special fee to enter the nation’s capital as part of an ongoing push towards lower emissions. The Labor-Greens government is facing criticism over its decision to embrace the C40’s “Green and Healthy Streets Accelerator” concept, which calls on governments to only operate…
Biden Launches New Economic Tour to Reassure Americans That ‘Bidenomics’ Is Working
June 28, 2023
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President Joe Biden launched this week his second “Investing in America” tour around the country, aiming to explain how his economic plan has spurred investments and jobs as the economy remains the most pressing issue for Americans. The administration kicked off the week with the announcement of over $40 billion in infrastructure investment to provide…
Global Mining CEO Says Chile Easier to Deal With Than the Queensland Government
June 27, 2023
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BHP CEO Mike Henry has continued pressuring the debt-heavy Queensland Labor government over its contentious decision to raise mining royalties in the coal-rich state. Henry reiterated that recent policies from the state (and federal) government would compel the global mining giant to pull investment from the region, despite major opportunities in critical mineral mining. “Capital…
Top US Lenders to Face Fed’s Annual Stress Tests This Week
June 26, 2023
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The major American banks will be facing the Federal Reserve’s annual stress tests this week, to see if they have enough capital in a potential crisis to make the grade. Despite the recent bank crisis this year, the lenders are are believed to have enough capital to weather a severe economic downturn., say analysts, but investor…
American States Considering Taxing Vehicle Owners Based on Distances Traveled
June 26, 2023
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Multiple U.S. states are weighing policies to charge vehicle owners a fee based on the miles they travel as authorities seek to replace gas taxes which have been declining for some time. For more than a century, gas taxes have been a major source of revenue for state transportation funding. This has contributed to maintaining…
US States Consider Taxing Vehicle Owners Based on Miles Traveled
June 26, 2023
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Multiple U.S. states are weighing whether to charge vehicle owners a fee based on the miles they travel as officials seek to replace gas taxes, which have been declining for some time. For more than a century, gas taxes have been a major source of revenue for state transportation funding. This has contributed to maintaining…
White House Unveils $42 Billion Investment Plan to Expand Internet Access
June 26, 2023
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The Biden administration has detailed how the government will divvy up $42 billion among the nation’s 50 states in an effort to expand high-speed broadband to every household and small business throughout the United States by 2030. In a fact sheet released on June 26, the White House said access to high-speed internet is no longer…
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