Author: Press Room
Very few events bring aides on President Biden’s re-election campaign more joy than when former President Donald J. Trump threatens to repeal popular Democratic policies.So when Mr. Trump, the Republican presidential front-runner, wrote on social media over the holiday weekend that he was “seriously looking at alternatives” to the 13-year-old Affordable Care Act, and that his fellow Republicans should “never give up” seeking its repeal, Mr. Biden’s campaign was happy to cede its programming decisions to Mr. Trump.The president’s campaign altered its previous plans and instead will spend much of this week amplifying Mr. Trump’s threat, which was less a…
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Holiday Spending at Weakest in 5 Years as Shoppers Focus on Deals, Not Splurging Black Friday events appeared to draw lackluster crowds this year, with shoppers laser-focused on discounts and bargains after holding back spending ahead of what is expected to be the weakest holiday season in five years. The National Retail Federation expects overall sales to increase by 3% to 4% in November and December, the slowest pace in five years, compared to the 5.4% increase last year and the 12.7% spike in 2021 following the depths of the pandemic. [New York Post] The economy, inflation and rising card…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Amazon’s planned $1.45bn acquisition of iRobot has drawn a formal objection from the EU’s antitrust regulator, which said the deal could allow the tech giant to use its dominance to punish rivals of the Roomba maker.The EU, which has been conducting a in-depth probe of the acquisition announced last year, said in a statement of objections on Monday that the proposed deal “may restrict competition in the market for robot vacuum cleaners”.The procedural step does not amount to a full veto of…
© Reuters. R1T is seen outside startup Rivian Automotive’s electric vehicle factory in Normal, Illinois, U.S. April 11, 2022. Picture taken April 11, 2022. REUTERS/Kamil Krzaczynski/File Photo (Reuters) – Rivian (NASDAQ:) Automotive on Monday announced the launch of leasing for its R1T electric pickup truck for customers in select U.S. states. The option, which has been made available in states including California, New York, Florida and Texas, comes days ahead of the launch of Tesla (NASDAQ:)’s Cybertruck which competes with the R1T. The $7,500 federal tax credit for electric vehicle purchases also applies to customers who prefer to lease, boosting…
© Reuters. FILE PHOTO: The headquarters of investment firm PIMCO is shown in this photo taken in Newport Beach, California January 26, 2012. REUTERS/Lori Shepler/File Photo By Matt Tracy and Davide Barbuscia (Reuters) – U.S. bond giant Pacific Investment Management Company (PIMCO) said on Monday it expects the next few years to provide the best opportunities for private credit investors since the global financial crisis. As banks become more cautious on lending due to lower liquidity and regulatory scrutiny, this has created a “void in lending markets” allowing private capital to step in, it said. Private investors could demand wider…
© Reuters. OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo By Alex Lawler LONDON (Reuters) – Saudi Arabia, Russia and other members of OPEC are scheduled to meet online on Thursday and could make further changes to an agreement that already limits supply into 2024, according to analysts and OPEC+ sources, to support the market. The Organization of the Petroleum Exporting Countries and allies led by Russia, known as OPEC+, delayed the meeting from Nov. 26. OPEC+ sources said this was because of a disagreement over output levels for African producers, although sources have…
JFU, ZEPP, SGN, and VISL are among technology movers
© Reuters. Standard Chartered (OTC:) has announced its participation in China’s digital yuan trials, marking a significant step for the international bank in the realm of digital currencies. As one of the first foreign financial institutions to engage in this initiative, the bank has launched digital yuan exchange services and is actively involved as a business pilot participant. The involvement of Standard Chartered in the digital yuan, also known as e-CNY, extends to its application in trade financing and supply chain financing across multiple regions. The bank’s direction has been shaped by earlier contributions to the “Multilateral Central Bank Digital…
White House press secretary Karine Jean-Pierre said Monday that the three college students of Palestinian descent who were shot near the University of Vermont over the weekend “should be back in school with their classmates, not in a hospital room.” The statement came soon after suspect Jason Eaton, 48, appeared virtually in Chittenden County Superior Court and entered a not guilty plea to all three counts of attempted second-degree murder. “The president and the first lady were horrified to learn about the three college students of Palestinian descent, two of whom are American citizens, who were shot Saturday in Burlington, Vermont. The…