economy

US senators urge White House to take action on Canada’s dairy quotas, tech laws – National

US senators urge White House to take action on Canada’s dairy quotas, tech laws – National

Two US senators are calling on the Biden administration to get tough with Canada and Mexico over what they describe as the two countries “flouting” their obligations under North America’s three-year-old trade agreement. Democrat Sen. Ron Wyden of Oregon and Republican Sen. Mike Crapo, respectively the chairman and ranking member on the Senate finance committee, …

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US durable goods beat expectations in December, gold price ticks down

(Kitco News) Gold edged down after the newly released data showed that orders for long-lasting US factory goods were up 5.6% in December versus the expected gain of just 2.5%. Meanwhile, November’s data was revised up to a drop of 1.7%. The monthly increase in durable goods orders was $15.3 billion and was largely driven …

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FTX’s Creditors Include Netflix, DoorDash, Airbnb

The FTX creditor also listed the Miami-based Basketball Properties LTD as a creditor. FTX bought the rights to the home of the Miami Heat’s home arena for $135 million in 2021. The Miami-Dade County government has since terminated that 19-year contract.Photo: Joe Raedle (Getty Images) The ongoing Chapter 11 bankruptcy of FTX is still trying …

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Opinion: ‘Don’t just sit there, do something.’ The stock market is telling you to make some hard decisions with your money now.

I have always refrained from saying what legendary investor Sir John Templeton considered the four most dangerous words in investing: This time is different.” After months of talking to and reading the words of investment experts trying to find the right way to describe and forecast the US economy and stock market for 2023, I’m …

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Pakistan’s rupee plunges as IMF says mission to visit next week | Business and Economy News

Pakistan is seeking $1.1bn from the fund, part of its $6bn bailout package, to avoid default. The Pakistani rupee has diverged to a historic low against the United States dollar after an exchange cap was lifted as the cash-strapped country seeks to unlock a vital bailout from the IMF. The Washington-based lender has yet to …

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Google makes changes to Android in India after antitrust setbacks | Business and Economy News

Implementation of these changes across the ecosystem will be a ‘complex process’, requiring ‘significant work’, it said. Google said on Wednesday it will allow device makers in India to license its individual apps for pre-installation and give an option to users to choose their default search engine, announcing sweeping changes to how it promotes its …

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Hindenburg shorts India’s Adani citing debt, accounting concerns | Business and Economy News

Hindenburg Research said it held short positions in India’s Adani Group, accusing the conglomerate of improper use of offshore tax havens and flagging concerns about high debt that eroded $11bn in investor wealth on Wednesday. The group, which is led by Gautam Adani, the world’s third richest person according to Forbes Magazine, dismissed the US …

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JPMorgan’s Kolanovic sees correction, hard landing

JPMorgan’s Marko Kolanovic is abstaining from the early 2023 rally. Instead, the Institutional Investor hall-of-famer is bracing for a 10% or more correction in the first half of this year, telling investors he’s “outright negative” on the market. “Fundamentals are deteriorating. And, the market has been moving up. So, that has to clash at some …

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Mongolia vows to clean up coal trade after fury over China deals | Energy

Last month, protestors stormed the Mongolian capital to denounce corruption in the country’s coal trade. Now the government says it has a solution to put a stop to years of shady business deals. Starting next month, Erdenes-Tavantolgoi JSC — the country’s largest state-owned coal miner — will cease signing direct sales contracts with buyers in …

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US Treasury activates another measure to avoid debt cap breach | Business and Economy News

In a letter notifying Congress of the move, Janet Yellen did not alter a projected deadline of hitting debt cap by June. US Secretary of the Treasury Janet Yellen activated another extraordinary cash management measure on Tuesday to avoid breaching the federal debt limit, suspending daily reinvestments in a large government retirement fund that holds …

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