2022-01-19@20:19:36 GMT
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    The Republican Party leads Democrats by double digits on the economy, national security, and jobs creation, a Wednesday Politico/Morning Consult poll revealed. While historic polling on Monday showed voters have swung away from Democrats by 14 points, congressional Republicans also have double-digit approval marks on key topics that galvanize voters. Republicans lead Democrats in the following...
    New York (CNN Business)From startlingly high inflation and empty grocery store shelves to elevated prices at the pump, Americans are frustrated with the state of the economy. Polls indicate voters are every bit as concerned about the economy as they are about the pandemic. And they feel the government is not doing enough to fight...
    KABUL, Afghanistan (AP) — Five months into their rule of Afghanistan, the Taliban have increased revenue, cracked down on corruption and collected a surprising $1 billion in exports, the U.N. representative for the country said Wednesday. At the same time, Deborah Lyons, head of the U.N. Assistance Mission in Afghanistan, stressed the need for...
    WASHINGTON (AP) — Treasury Secretary Janet Yellen told a gathering of America’s mayors on Wednesday that the Biden administration’s coronavirus relief bill was like a vaccine preventing catastrophic economic damage that could have returned the nation to the financial woes seen at the beginning of the pandemic. President Joe Biden’s $1.9 trillion American Rescue Plan...
    One year into his term, more than a third of the country believes President Joe Biden is flunking out, a new survey finds. According to a Politico/Morning Consult poll out Wednesday, 37 percent of respondents give the president an “F” for the first quarter of his presidency. By contrast, a meager 11 percent give...
    ANKARA, Turkey (AP) — Turkey’s government and central bank have taken unconventional steps in recent weeks to prop up a beleaguered economy crippled by skyrocketing consumer prices, instead of ending a much-criticized plan to cut interest rates. President Recep Tayyip Erdogan’s insistence on cutting rates — the opposite of what economists say to do to...
              by Eric Lendrum   A recent report claims that the world’s top 10 richest men all saw their wealth double over the course of the Coronavirus pandemic, while 99 percent of global income dropped dramatically during the same period. As reported by ABC News, a study published on Monday by the group Oxfam showed that the...
    One of President Biden's biggest cheerleaders in the media is now sounding the alarm as the commander in chief has faced months of political blunders and devastating polls.  Washington Post columnist Jennifer Rubin, declared in the headline of her column on Tuesday, "Biden needs a reset," before providing advice for the White House and Democrats. ...
    In his annual letter to business leaders, the boss of the world’s largest asset manager made it clear: “We focus on sustainability not because we are environmentalists, but because we are employers.” “Capitalism is not about politics.” His Annual letter to business leaders, The boss of BlackRock, the world’s largest asset manager, explains why the...
    But what is happening under Biden? Inflation has been surging under Biden and reached a whopping 7% in December, the highest rate in 40 years. Experts blame, at least partially, the American Rescue Plan for rising inflation. Unfortunately, experts also say inflation hardest hits those Americans Yellen claimed receive an unfair shake in the U.S....
    Although former President Donald Trump and his MAGA ally Steve Bannon have been enthusiastic supporters of Marine Le Pen — the far-right National Rally leader and White nationalist who lost to President Emmanuel Macron in France’s 2017 presidential election — many on America’s right have been quick to bash France over the years, including the...
    WASHINGTON (AP) — U.S. competition regulators have mounted an effort to tighten enforcement against illegal mergers, in line with President Joe Biden’s mandate for greater scrutiny to big business combinations. The Justice Department and the Federal Trade Commission announced Tuesday they are seeking public comment on how current merger guidelines can be updated to...
    Hong Kong (CNN Business)China is urging central banks in the West not to hike interest rates too fast to fight inflation as it goes in the other direction to battle a sharp economic slowdown. Chinese President Xi Jinping on Monday called on major world economies to spur growth by coordinating their policies as the world...
    As part of its 14th Five Year Plan, China plans to increase support for research and development into 6G or sixth generation internet. 6G is said to come after current 5G technology though no global standards or definition have been agreed upon yet.Rafael Henrique | SOPA Images | LightRocket | Getty Images China is aiming...
    Treasury Secretary Janet Yellen said Monday the United States has a lot of work to do to bridge its racial wealth divide, arguing the economy has never been fair to minorities. Her remarks came during the annual Martin Luther King Jr. Day breakfast hosted by Rev. Al Sharpton's National Action Network. RACE RELATIONS...
    Treasury Sec. Janet Yellen said that the U.S. economy has 'never worked fairly' for black Americans in remarks on Martin Luther King Day.  In recorded remarks before the National Action Network's Annual King Day Breakfast, Yellen recalled a portion of King's 'I Have a Dream' speech where he compares discrimination against black Americans to a...
    New York (CNN Business)The stock market is like that old slogan for Timex watches. It takes a licking but keeps on ticking. Sure, it's been a rocky start to the year on Wall Street following a stellar 2021. The Dow is down about 1% and the S&P 500 has fallen 2%. Trading has been volatile....
    LOS ANGELES — On an isolated farm, greenhouses stand in regimental order, sheltered by a fringe of trees. Inside are hundreds of head-high cannabis plants in precise rows, each rising from a pot nourished by coils of irrigation tubing. Lights powerful enough to turn night into day blaze overhead. In the five years since California...
    New York (CNN Business)The Federal Reserve helped save the US economy from Covid. Next up: Rescue America from its first inflation crisis in decades.While the Fed responded swiftly and forcefully to the emerging pandemic in early 2020, its initial response to inflation was slow and faltering.The Fed shrugged off inflation last year as "transitory," and...
    BANGKOK (AP) — Shares were mixed in Asia on Monday after China reported that its economy expanded at an 8.1% annual pace in 2021, though growth slowed to half that level in the last quarter. Tokyo, Shanghai and Sydney rose, while Hong Kong and Seoul declined. The weakness in China’s economy toward the end...
    BEIJING (AP) — China’s economy grew by 8.1% in 2021 after an abrupt slowdown in the second half that is prompting suggestions Beijing needs to shore up slumping growth. In the final three months of 2021, the world’s second-largest economy expanded at a 4% annual pace, government data showed Monday. That is down from the...
    Hong Kong (CNN Business)China's economy grew just 4% in the last quarter of 2021, its slowest pace in a year and a half as the country struggled with a deepening property crisis, renewed Covid outbreaks and Beijing's strict no-tolerance approach to controlling the virus.Still, that figure was higher than expected by economists.For all of 2021,...
    Volunteers wearing personal protective equipment (PPE) arrange food deliveries on Nov. 26, 2021, for a Shanghai residential area that's under restrictions to halt the spread of Covid-19.Yin Liqin | China News Service | Getty Images BEIJING — China's economy grew by 8.1% in 2021, and industrial production rose steadily through the end of the year...
    BEIJING (AP) — China’s economy grew by 8.1% in 2021 after activity slowed as Beijing moved to cut corporate debt. Copyright © 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
    SKOPJE, North Macedonia (AP) — North Macedonia’s parliament on Sunday approved a new coalition Cabinet led by the Social Democrats, with two ethnic Albanian parties as junior partners. The Cabinet won the confidence vote 62-46 in the 120-member legislature. It enjoys somewhat broader support than the previous government of Social Democrat leader Zoran Zaev. The...
    Half of Americans are “frustrated” with Joe Biden’s presidency, according to a new survey. A CBS News poll released Sunday finds that 50 percent of Americans are “frustrated” with Biden’s tenure in the Oval Office today. The survey also found that 49 percent are “disappointed” and 40 percent are “nervous” after Biden’s first...
    Hong Kong (CNN Business)The Chinese government's unwavering insistence on stamping out any trace of the coronavirus is facing its biggest test yet as authorities grapple with Omicron's quickening spread. And it could cost the world's second largest economy dearly this year. The Covid-19 variant has been cropping up across China in recent days, including in...
    For the tenth consecutive year, revenue generated by Georgia’s forest industry has taken a jump. According to a new Georgia Tech report, the total economic output of the forest industry in 2020 rose to $39.1 billion, a 7.1% increase over the previous year. That number...
    During an interview aired on Friday’s edition of PBS’ “Firing Line,” CNN host Fareed Zakaria stated that “Doctors and scientists don’t get to decide for everybody in a democracy what policy is going to be and we don’t blindly follow” and doctors and scientists only view things through the lens of minimizing the spread of...
    Facebook CEO Mark Zuckerberg is seen fencing in the "Metaverse" with an Olympic gold medal fencer during a live-streamed virtual and augmented reality conference to announce the rebrand of Facebook as Meta, in this screen grab taken from a video released October 28, 2021.Facebook | via Reuters If 2021's word of the year was "NFT,"...
    Sarah Bloom RaskinAndrew Harrer | Bloomberg | Getty Images In what likely will be just a few months' time, the Federal Reserve will look a lot different: Three new governors, a new vice chairman, a new banking chief and likely a couple new regional presidents. But while the parts of the institution's upper echelon may...
    His Fraudulency Joe Biden won the 2020 presidential election based primarily on his promise to shut down the virus and not the economy. Well, here we are, one year into this presidency, and the exact opposite has happened. As I write this, the coronavirus is surging to record levels. Meanwhile, the economy is stalling in...
    WASHINGTON D.C (CBS SF) — California will soon receive $849.4 million in federal funds to repair and improve 1,536 bridges across the state thanks to the Infrastructure Investment and Jobs Act, Rep. Mike Thompson, D-St. Helena, announced Friday. Over the next five years, California will receive $4.2 billion of the $110 billion the Biden Administration...
    New York (CNN Busineess)The stock market boom has created an insatiable appetite for exchange-traded funds, which make it easy for traders to invest in many of the world's top companies all at once. That's great news for BlackRock, the world's largest money manager.BlackRock (BLK), owner of the popular iShares family of ETFs, announced Friday that...
    In this article .STOXXA sign showing entry only for "2G," the term in Germany for people who are either vaccinated against or have recently recovered from Covid-19.Jens Schlueter | Getty ImagesThe German economy grew by 2.7% in 2021 after another year of surging Covid-19 cases, pandemic-related restrictions and supply chain pressures, preliminary data showed Friday....
              by Ailan Evans   President Joe Biden’s approval rating continues to drop as voters grow increasingly dissatisfied with his handling of key issues, according to the results of a new poll. Biden’s approval rating dropped to a new low of 33%, according to a Quinnipiac University poll released Wednesday, with 53% of Americans saying they disapprove of...
    BEIJING (AP) — China’s politically volatile global trade surplus surged to $676.4 billion in 2021, likely the highest ever recorded by any country, as exports jumped 29.9% over a year earlier despite semiconductor shortages that disrupted manufacturing. The country’s trade surplus in December swelled 20.8% over a year earlier to a monthly record of $94.4...
    UNITED NATIONS (AP) — The United Nations chief warned Thursday that millions of Afghans are on the “verge of death,” urging the international community to fund the U.N.’s $5 billion humanitarian appeal, release Afghanistan’s frozen assets and jump-start its banking system to avert economic and social collapse. Secretary-General Antonio Guterres told reporters that “freezing temperatures...
    On Wednesday’s broadcast of CNN’s “OutFront,” economist Larry Summers said that there is “a real problem” with inflation that “was a foreseeable problem a year ago,” and “we’re looking at a situation right now that is fundamentally unsustainable.” But “by continuing to believe this narrative of transitory inflation and it’s all going to be okay,...
    WASHINGTON (AP) — Lael Brainard, President Joe Biden’s nominee for the Federal Reserve’s No. 2 spot, said Thursday that combating high inflation is the central bank’s top priority and said she believed the Fed could reduce it without sacrificing economic growth. Testifying at her confirmation hearing before the Senate Banking Committee, Brainard noted that inflation...
    WASHINGTON (AP) — Prices at the wholesale level surged by a record 9.7% in December from a year earlier, with inflation evident at all levels of the U.S. economy. The Labor Department reported Thursday that its producer price index, which measures inflation before it reaches consumers, did slow on a monthly basis rising just rose...
    The number of new applications for unemployment benefits climbed 23,000 last week to 230,000, more than anticipated. The new numbers were reported on Thursday morning by the Labor Department. Weekly jobless claims are seen as a proxy for layoffs. Over the course of the past several weeks, new claims have trended downward as...
    NEW DELHI (AP) — India and Britain are launching talks on pursuing a free trade deal that is expected to boost bilateral trade by billions of dollars in one of the most ambitious negotiations to take place after Brexit. Britain’s International Trade Secretary Anne-Marie Trevelyan is in New Delhi and will meet with Piyush...
    I keep hearing about bipartisanship. Oh, what is this fey, bashful woodland creature of which you speak, Republicans? It sounds simply enchanting—and, yes, I would love to believe it exists. But it just doesn’t. I’m quite certain I saw Mitch McConnell beating it to death with a shovel in a roadside ditch after he hit it...
    To justify obstructing one of his party's top legislative priorities, Democratic Sen. Joe Manchin of West Virginia has repeatedly claimed that the Build Back Better Act would exacerbate rising inflation. But a new report published Wednesday by the congressional Joint Economic Committee (JEC) argues that Democrats' 10-year, $1.75 trillion reconciliation package would actually relieve inflationary...
    Only four percent say the economy has recovered under Joe Biden’s leadership, a YouGov poll released Wednesday revealed. While Biden promised in 2020 he would improve the economy and shut down the virus, few believe Biden has improved the economy from Donald Trump’s tenure. When respondents were asked, “How long do you think it will...
    WASHINGTON (AP) — Lael Brainard pledged in written remarks Wednesday to help the Federal Reserve fight a spike in inflation while still supporting the economic recovery — a tricky balancing act she would face if confirmed as the Fed’s No. 2 official. Brainard, a member of the central bank’s Board of Governors, was nominated for...