Friday, October 7

Tag: Collections: Business

Politics in Air as Biden Visits Future Intel Plant in Ohio
Politics

Politics in Air as Biden Visits Future Intel Plant in Ohio

By AAMER MADHANI, JOSH BOAK and ANDREW WELSH-HUGGINS, Associated PressNEW ALBANY, Ohio (AP) — President Joe Biden steered clear of partisan politics at Friday's groundbreaking celebration for a huge new computer chip facility in Ohio — as a tough Senate contest in that state and a Democratic candidate seeking to distance himself from Biden reflected the challenge of translating White House policy wins into political gains.Biden, a major force behind the legislation that helped lure Intel, went to suburban Columbus to take a victory lap just as voters in the state are starting to tune in to the Senate race between Democratic Rep. Tim Ryan and Republican author and venture capital executive JD Vance. They're competing in a former swing state that has trended Republican over the past decade.R...
Asian Stocks up After US Inflation Fuels Rate Hike Fears | Business News
Business

Asian Stocks up After US Inflation Fuels Rate Hike Fears | Business News

By JOE McDONALD, AP Business WriterBEIJING (AP) — Asian stock markets rose Thursday after higher U.S. inflation stoked expectations of more rate hikes that investors worry will chill economic growth.Shanghai, Tokyo, Hong Kong and Sydney advanced. Wall Street futures edged lower. Oil prices advanced.Wall Street's benchmark S&P 500 index lost 0.4% on Wednesday after data showed U.S. consumer inflation accelerated to 9.1% in June over a year earlier from May's 8.6%. That was despite three rate hikes this year by the Federal Reserve.Investors worry aggressive action by the Fed and other central banks to cool inflation that is at four-decade highs might derail global growth.Political Cartoons“Growth fears are hitting the markets harder than inflation concerns,” said Stephen Innes of SPI Ass...
Successors to Johnson Seek to Stand Out in Crowded UK Field | Business News
Business

Successors to Johnson Seek to Stand Out in Crowded UK Field | Business News

By DANICA KIRKA, Associated PressLONDON (AP) — Potential successors to British Prime Minister Boris Johnson rushed to differentiate themselves from an increasingly crowded field Sunday as the governing Conservative Party was expected to set a tight timetable for the election.Candidates released slick campaign videos on social media and appeared on Sunday morning political talk shows to make their cases to the public. Several promised tax cuts, appealing to rank-and-file Conservative party members for whom low taxes are a mantra.Johnson announced his resignation Thursday after more than 50 members of his Cabinet and lower level officials resigned from his government, many citing concerns that his ethical lapses had undermined the government’s credibility.That triggered the internal Conserva...
Add Rent to the Rising Costs Bedeviling Small Businesses | Business News
Business

Add Rent to the Rising Costs Bedeviling Small Businesses | Business News

By MAE ANDERSON, AP Business WriterNEW YORK (AP) — The rent has come due for America’s small businesses and at a very inopportune time.Landlords were lenient about rent payments during the first two years of the pandemic. Now, many are asking for back rent, and some are raising the current rent as well. Meanwhile, most of the government aid programs that helped small businesses get through the pandemic have ended while inflation has sharply pushed up the cost of supplies, shipping, and labor.Martin Garcia, owner of gift and décor store Gramercy Gift Gallery in San Antonio, Texas, survived the first part of the pandemic in part by paying his landlord whatever rent he could each month. Then in August 2021, after the federal moratorium on evictions ended, his landlord asked for the full amoun...
Japan’s Toshiba Shareholders Approve 13 Nominations to Board | Business News
Business

Japan’s Toshiba Shareholders Approve 13 Nominations to Board | Business News

By YURI KAGEYAMA, AP Business WriterTOKYO (AP) — Toshiba shareholders approved 13 nominated directors to its board Tuesday, as the Japanese technology giant struggles to restore its one-time glory and set a clear leadership direction.Chief Executive Taro Shimada, who oversaw the annual shareholders’ meeting in Tokyo, said the majority had voted to OK that plan.He promised shareholders Toshiba Corp. would forge ahead with clean energy, infrastructure projects, data services, devices and storage. He stressed the Tokyo-based company had boosted profits for the latest fiscal year, ended in April, to 194.7 billion yen ($1.4 billion), up from 114 billion yen the previous fiscal year.By 2030, Toshiba is aiming for 5 trillion yen ($37 billion) in annual sales, up from about 3 trillion yen ($22 bil...
Biden Says He’s Considering a Gasoline Tax Holiday | Business News
Business

Biden Says He’s Considering a Gasoline Tax Holiday | Business News

By AAMER MADHANI, Associated PressREHOBOTH BEACH, Del. (AP) — President Joe Biden said Monday that he's considering a federal holiday on the gasoline tax, possibly saving U.S. consumers as much as 18.4 cents a gallon.“Yes, I’m considering it,” Biden told reporters after taking a walk along the beach. “I hope to have a decision based on the data — I’m looking for by the end of the week.”The administration is increasingly looking for ways to spare the public from higher prices at the pump, which began to climb last year and surged after Russia invaded Ukraine in February. Gas prices nationwide are averaging just under $5 a gallon, according to AAA.The Biden administration has already released oil from the U.S. strategic reserve and increased ethanol blending for the summer, in additional to ...
WTO Ministers Reach Deals on Fisheries, Food, COVID Vaccines | Business News
Business

WTO Ministers Reach Deals on Fisheries, Food, COVID Vaccines | Business News

By JAMEY KEATEN, Associated PressGENEVA (AP) — After all-night talks, members of the World Trade Organization early Friday reached a string of deals and commitments aimed to limit overfishing, broaden production of COVID-19 vaccines in the developing world, improve food security and reform a 27-year-old trade body that has been back on its heels in recent years.WTO Director-General Nzogi Okonjo-Iweala, after a pair of sleepless nights in rugged negotiations, concluded the WTO’s first ministerial conference in 4-1/2 years by trumpeting a new sense of cooperation at a time when the world faces crises like Russia's war in Ukraine and a once-in-a-century pandemic that has taken millions of lives.“The package agreements you have reached will make a difference to the lives of people around the w...
FAA Says Future Planes Will Need to Reduce Carbon Emissions | Business News
Business

FAA Says Future Planes Will Need to Reduce Carbon Emissions | Business News

WASHINGTON (AP) — The Biden administration proposed Wednesday that future planes produce lower levels of greenhouse gas emissions before they can be certified by federal regulators.The Federal Aviation Administration proposal would increase fuel-efficiency standards for jets and large turboprop and propeller-driven planes that it has not yet certified, and for planes built after Jan. 1, 2028.The FAA will develop means to determine the relationship between fuel efficiency and reductions in carbon dioxide emissions.The rule, if made final, would cover large airliners under development, including Boeing's 777-X and new versions of its 787 and the Airbus A330neo, plus various business jets and other planes. The FAA said the rule would bring the United States in line with carbon dioxide emissio...
China’s Trade Rebounds in May as Anti-Virus Curbs Ease | Business News
Business

China’s Trade Rebounds in May as Anti-Virus Curbs Ease | Business News

By JOE McDONALD, AP Business WriterBEIJING (AP) — China’s trade growth rebounded in May after anti-virus restrictions that shut down Shanghai and other industrial centers began to ease.Exports surged 16.9% over a year earlier to $308.3 billion, up from April’s 3.7% growth, a customs agency statement said Thursday. Imports rose gained 4.1% to $229.5 billion, accelerating from the previous month’s 0.7%.China’s trade has been dampened by weak export demand and curbs imposed to fight outbreaks in Shanghai, site of the world’s busiest port, and other cities. Consumer demand was crushed by rules that confined millions of families to their homes.Forecasters have cut estimates for China’s economic growth to as low as 2% this year, well below the ruling Communist Party’s target of 5.5%. Some expect...
Russia Hits Kyiv With Missiles; Putin Warns West on Arms | Business News
Business

Russia Hits Kyiv With Missiles; Putin Warns West on Arms | Business News

By JOHN LEICESTER, Associated PressKYIV, Ukraine (AP) — Russia took aim Sunday at Western military supplies for Ukraine, launching airstrikes on Kyiv that it claimed destroyed tanks donated from abroad, as Vladimir Putin warned that any Western deliveries of longer-range rocket systems would prompt Moscow to hit “objects that we haven't yet struck.”The Russian leader's cryptic threat of military escalation did not specify what the new targets might be. It came days after the United States announced plans to deliver $700 million of security assistance for Ukraine that includes four precision-guided, medium-range rocket systems, as well as helicopters, Javelin anti-tank systems, radars, tactical vehicles and more.Military analysts say Russia hopes to overrun Ukraine's embattled eastern indus...