After Chinese hackers were able to hack into U.S. government email accounts last week, Microsoft’s security systems are now under fire from Congress. A cyber gang based in China was accused of stealing emails from senior U.S. officials in a major security breach through a weakness in Microsoft MSFT.O software. The attacks were allegedly able…
Microsoft’s Contract With Government Agencies Under Fire Following Chinese Cyber Attacks
July 14, 2023
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2024 Social Security Payment Estimates to Rise Unexpectedly, Group Says
The next cost-of-living adjustment (COLA) increase for Social Security recipients might be better than what was previously predicted, according to a nonpartisan seniors group. The Senior Citizen’s League advocacy group said that the COLA increase for 2024 might be around 3 percent, which is far lower than 2023’s 8.7 percent increase, according to a press release…
Strong Big Bank Earnings Lift Wall Street at Open
Wall Street’s main indexes opened higher on Friday after three of the country’s top lenders including JPMorgan Chase and Wells Fargo commenced second-quarter earnings for big U.S. banks on a strong note. The Dow Jones Industrial Average rose 30.19 points, or 0.09 percent, at the open to 34,425.33. The S&P 500 opened higher by 4.57…
IN DEPTH: America Needs to Rebuild Its Manufacturing Power to Outplay the CCP: China Scholar
July 14, 2023
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To cut dependency on the Chinese economy, the United States needs to base its policies on “two pillars”: economic containment of communist China and rebuilding the industrial power in the United States, said Jonathan Ward, a China scholar and founder of the Atlas Organization. American policy toward communist China was guided for decades by the…
Private-Equity Firms Are Buying Out Medical Practices and Raising Prices for Americans: Study
July 14, 2023
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Private-equity firms have been buying up individual physician practices at a rapidly increasing rate over the past decade and raising prices for millions of Americans, according to a study released this week. The rise in acquisitions by investor groups of market share in the health care industry are leading to higher treatment costs, the study showed. When private…
Small-Business Optimism Rises, but Inflation Concerns Remain Persistent
July 14, 2023
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American small-business confidence slightly climbed to a seven-month high last month, but concerns about inflation remain persistent, according to a recent report. Pessimism over the U.S. economy diminished sharply, while sales expectations improved, but a persistently tight labor market is continuing to concern analysts about future inflation rates. The National Federation of Independent Business (NFIB)…
Dollar Near 15-month Low as Easing US Inflation Fuels Rate Peak Bets
LONDON/SINGAPORE—The dollar hovered near a 15-month low on Friday and was set for its biggest weekly decline since November after softening U.S. inflation data fuelled investors’ bets that the Federal Reserve was close to the end of its rate hike cycle. U.S. producer prices barely rose in June and the annual increase in producer inflation…
Brent Oil Hovers Above $81 After Supply Disruptions
LONDON—Global benchmark Brent crude hovered above $81 a barrel on Friday, with bullish sentiment over U.S. demand bolstered by supply disruption in Libya and Nigeria. Both the Brent and U.S. West Texas Intermediate (WTI) contracts had risen for three straight sessions and in early Asian trade on Friday, poised to register a third straight week…
World Stocks Hit New 2023 Highs After Rally on Inflation Data
July 14, 2023
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LONDON—World stocks extended their gains on Friday, on track for their biggest weekly rise this year, while the dollar held near 15-month lows as investors bet that the U.S. Federal Reserve was nearing the end of its rate-hiking cycle. Data on Wednesday showed U.S. consumer prices growing at their slowest pace in more than two…
Home Prices Hit Record High As Housing Supply Shortage Worsens
July 14, 2023
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Home prices hit a record high again in May, amid a worsening supply shortage in the housing market. The sharp jump in mortgage interest rates in last year caused an overheated housing market to slow down, but the slump did not last long. The cost for a home, which has been rising since the start…
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