TOKYO—Global shares mostly drifted higher Monday as investors fretted over whether the United States government will be able to reach a deal to avoid a federal default. France’s CAC 40 inched down less than 0.1 percent in early trading to 7,489.72, while Germany’s DAX slipped 0.1 percent to 16,261.45. Britain’s FTSE 100 gained 0.3 percent…
Stock Market Today: Global Shares Mostly Rise Despite Worries About US Debt Talks
May 22, 2023
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National Retail Group Says 42 Percent Increase to Workcover a ‘Bitter Pill to Swallow’
Australia’s peak retail body, the Australian Retail Association, says an increase in WorkCover premiums is the last thing businesses need amid rising inflation and a crime wave targeting small businesses. On May 19, the Victorian Labor government announced a 42 percent increase to the Workcover premium paid by the state’s businesses into joint funds used…
US Default Risk Casts Shadow Over Biden’s G7 Trip at Home
May 21, 2023
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HIROSHIMA, Japan—President Joe Biden has asked his negotiators to coordinate a call with House Speaker Kevin McCarthy for Sunday morning, U.S. time, after he concludes his G7 meetings on the last day of the summit in Japan. The White House has engaged in a heated exchange with Republicans over the debt ceiling negotiations that stalled…
US Default Risk Casts Shadow Over Biden’s G7 Trip
May 21, 2023
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HIROSHIMA, Japan—President Joe Biden has asked his negotiators to coordinate a call with House Speaker Kevin McCarthy for Sunday morning, U.S. time, after he concludes his G7 meetings on the last day of the summit in Japan. The White House has engaged in a heated exchange with Republicans over the debt ceiling negotiations that stalled…
US Default Risk Casts Shadow Over Biden’s G-7 Trip
May 21, 2023
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Asia & PacificBusiness & Marketsdebt ceilingdefaulteconomic policiesExecutive BranchG-7G7 Leaders’ SummitPoliticsUSWorld
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HIROSHIMA, Japan—President Joe Biden has asked his negotiators to coordinate a call with House Speaker Kevin McCarthy for Sunday morning, U.S. time, after he concludes his G-7 meetings on the last day of the summit in Japan. The White House has engaged in a heated exchange with Republicans over the debt ceiling negotiations that stalled…
Social Media Panic Triggers Banking Risk Management Overhaul: Survey
Two months after the collapse of Silicon Valley Bank (SVB), triggered by a social media-fuelled panic, banking executives across America are reevaluating their approach to online platforms. The crisis sparked a broad recognition of the impact of social media on the financial industry, prompting a renewed focus on risk management and mitigation. An array of…
Troubling Trend: Marijuana Use Among US Workers Jumps To Historic Highs
May 19, 2023
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American workers using marijuana on the job rose to a “historic” high last year, according to a new study. Diagnostic information service Quest Diagnostics released a report on May 18, analyzing over 6 million employee urine samples in 2022, and found that 4.3 percent of them were positive for cannabis, up from 3.9 percent in 2021….
High Interest Rates Are Not the Problem; Decades of Low Rates Were: Grant Williams
May 19, 2023
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In a viral exchange back in March, Sen. Elizabeth Warren (D-Mass.) grilled Federal Reserve Chair Jerome Powell over the unemployment caused by the Fed’s recent rate hiking cycle. “Do you call laying off two million people this year not a ‘sharp’ increase?” the senator asked. “Explain that to the two million families who are going…
What Voters Fear Most if Debt Ceiling Talks Fail and Default Comes Knocking
Even though both President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) have said in recent days they don’t believe the debt ceiling negotiations will end in a fiasco and trigger an economically damaging debt default, markets are jittery and voters nervous as they mull the implications of America failing to meet its debt obligations….
UK Unveils £1 Billion Semiconductor Strategy
The UK government has unveiled its semiconductor strategy, which it said would secure the country’s position as a “global science and technology superpower.” But the long-awaited policy paper was met with mixed reactions, with some companies calling it “flaccid” and lacking in ambition. Under the 20-year plan, the government pledged around £200 million ($248 million) by 2025 and…
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