Author: Press Room

FIRST ON FOX: An internal memorandum circulated among lawmakers by Senate Commerce Committee Republicans highlights how the Biden administration is tying billions of dollars in taxpayer funds to “woke initiatives.” The memo, first obtained by Fox News Digital, was sent late Monday evening and spearheaded by Commerce Committee Ranking Member Ted Cruz, R-Texas, who is planning to author legislation that would prohibit the Department of Transportation (DOT) from tying federal funds to left-wing priorities. It particularly targets DOT’s management of three grant programs that serve as key vehicles to fund various types of surface transportation projects nationwide.”Billions upon billions of taxpayer…

Sam Altman’s ouster has been so unpopular that most OpenAI workers have threatened to quit. The discord reveals a rare level of loyalty to a CEO, leadership experts told Business Insider.OpenAI’s small size makes it more likely workers would push back against change at the top. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Well, that didn’t go as planned.The chaotic ouster of Sam Altman from OpenAI offers lessons around corporate stewardship and about seizing opportunity. It also provides a glimpse at a rare specimen:…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Shares in German weapons manufacturer Rheinmetall rose 4.8 per cent after the company predicted a doubling of revenues by 2026 and a jump in profitability.Rheinmetall, whose shares are now up almost 40 per cent this year — making it the best performer on the DAX — said at an investor day presentation that revenues would reach between €13bn and €14bn in 2026, with an operating margin of more than 15 per cent.Its forecast for this year is that revenues will be between…

WASHINGTON – Renowned economist Mohamed El-Erian has raised concerns about the Federal Reserve’s communication practices, noting that the central bank’s shift towards greater transparency and detailed communications has inadvertently increased market instability and volatility. This observation comes as the Fed has intensified its public engagement, with 11 officials delivering a total of 20 speeches in a single week, culminating in heightened market reactions particularly during Federal Open Market Committee (FOMC) press conferences chaired by Jerome Powell. The Federal Reserve, under the leadership of Ben Bernanke and continuing with Jerome Powell, has moved away from the traditionally vague ‘Fedspeak’ made famous…

© Reuters Investing.com — Medtronic (NYSE:) has raised its annual revenue and earnings outlook following “broad-based, diversified” growth across several of the medical device manufacturer’s businesses in its fiscal second quarter. This is a breaking story. Please check back later for updates.

© Reuters. FILE PHOTO: An oil pump of IPC Petroleum France is seen during sunset outside Soudron, near Reims, France, February 6, 2023. REUTERS/Pascal Rossignol/File Photo By Nerijus Adomaitis OSLO (Reuters) -The global oil market will see a slight surplus of supply in 2024 even if the OPEC+ nations extend their cuts into next year, the head of the International Energy Agency’s (IEA) oil markets and industry division told Reuters on Tuesday. At the moment, however, the oil market is in a deficit and stocks are declining “at a fast rate”, Toril Bosoni said on the sidelines of a conference…

Scott Olson Stock index future were little changed Tuesday following a rally that pushed the S&P 500 (SP500) out of correction territory. S&P futures (SPX), Nasdaq 100 futures (NDX:IND) and Dow futures (INDU) were close to the flatline. On Monday the benchmark S&P gained 0.7%, fully recouping the 10% decline that meets the standard definition of a correction in just 16 trading days. That is the fastest rebound since the 1970s, according to data from Dow Jones. The recent “moves for the S&P now leave the index at its highest level since early August, having now advanced by +10.4% since…

© Reuters. Investing.com – The U.S. dollar retreated once more in early European trade Tuesday, falling to a more than 2-month low ahead of the release of the minutes from the Federal Reserve’s last meeting. At 04:10 ET (09:10 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, fell 0.2% to 103.135, dropping to levels last seen in late August. Dollar retreats ahead of Fed minutes The has fallen in seven of the last eight sessions as a string of soft labor market and inflation readings have seen traders speculate that the Federal Reserve…

Do abortion and democracy matter to voters?If you look at the results of New York Times/Siena College polling, the answer often seems to be “not really.”Around 40 percent of voters agreed that Donald J. Trump was “bad” for democracy in our latest poll. Only around a quarter said that issues like democracy and abortion were more important to their vote than the economy.But in election after election, the final vote tallies seem to tell a very different story. Last fall, Democrats excelled when abortion and democracy were at stake, even though our pre-election polls offered little indication that these issues…

Here’s a ray of sunshine amidst so much economic gloom. On Sunday, Javier Milei was elected president of Argentina on a stunning free market platform, by the biggest margin since the country returned to democracy in 1983. His most electrifying plank was replacing the peso with the U.S. dollar. That’s right: The greenback will be legal tender, and the peso will be headed for the scrap heap of history. This segment of What’s Ahead explores the enormous and profoundly positive significance of this move for Argentina and, indeed, the world. It also demolishes the biggest argument against dollarization. Follow me…