Author: Press Room

Washington CNN  —  The Biden administration managed to rack up a long list of major legislative wins in its first two years despite facing one of the most closely-divided Congresses in history.From bipartisan action on infrastructure, gun safety and same-sex marriage to party-line bills tackling climate change and expanding health care coverage, it’s a record President Joe Biden and Democrats on the ballot were all eager to tout on the campaign trail during the midterms. But far from the spotlight is a woman who helped make all that happen: Louisa Terrell. As the director of the White House Office of…

A government shutdown deadline is approaching on November 17 after a shutdown in September was … [+] avoided. AFP PHOTO/Mandel NGAN (Photo by Mandel NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images)AFP via Getty Images As in September 2023, another government shutdown deadline approaches on November 17. It’s likely, though not certain, that a continuing resolution, or other budgetary measures, will be passed to avoid a shutdown. However, a broader budget debate may drag on over the coming weeks and possibly into 2024 when automatic budget cuts could take effect. This ongoing topic could weigh on both stock…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Novo Nordisk expects demand for its weight loss drugs to continue to outstrip supply despite expanding manufacturing capacity, as new trial data bolsters its case that treating obesity has broader health benefits.Sales of the Danish pharmaceutical group’s obesity and diabetes drugs soared 36 per cent to almost $22bn in the first nine months of the year, as patients flocked to the treatments that offer more significant weight loss than previous medicines.Novo Nordisk’s chief executive Lars Fruergaard Jørgensen said the company was focused…

© Reuters. FILE PHOTO: Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. REUTERS/Issei Kato/File Photo By Leika Kihara TOKYO (Reuters) – The Bank of Japan may be underestimating the risk of being too late in addressing mounting inflationary pressures from rising service prices and wages, the central bank’s former top economist said. The bank on Tuesday raised its inflation forecasts to well above its 2% target for this year and next but said the revisions were largely due to transitory factors, such as more companies passing on higher raw material…

© Reuters. Edison International (NYSE:), an electric power provider based in Rosemead, and Energy Recovery Inc. (NASDAQ:), a San Leandro-based firm known for manufacturing energy recovery devices, both reported their third quarter earnings on Wednesday. Energy Recovery Inc. disclosed a Q3 profit of $9.7 million, equivalent to 17 cents per share in USD. After adjusting for stock option expenses, the earnings per share (EPS) were 20 cents. The company’s revenue for the quarter was reported at $37 million. On the other hand, Edison International revealed a Q3 profit of $212 million with a net income of 40 cents per share.…

Warning: AUOTY is at high risk of cutting its dividend

© Reuters. Investing.com – The U.S. dollar fell sharply in early European trade Thursday after comments from Fed Chair Jerome Powell pointed to a likely peak in U.S. interest rates.  At 04:10 ET (08:10 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.4% lower at 106.290, extending overnight losses. Have Fed rates peaked? The U.S. left rates unchanged on Wednesday, as expected, and while Chair left the door open for another rate hike he struck a less hawkish tone than markets were expecting, by acknowledging that monetary conditions had tightened substantially in…

A Democratic pro-Israel group on Thursday is beginning to air television ads that criticize Representative Rashida Tlaib of Michigan, in the first attempt to hit back on the airwaves at the growing caucus of Israel skeptics within the Democratic Party.The ad from the group, Democratic Majority for Israel, comes as President Biden and other Democrats face a backlash from the left for their stalwart support of Israel as it bombs and invades the Gaza Strip in retaliation for the Oct. 7 Hamas attack.Ms. Tlaib, the only Palestinian American in Congress and one of two Muslim women in the House, has…

The UAW wants to unionize more US automakers after reaching tentative agreements with the Big Three. While Elon Musk has spoken out against unions, a major Tesla factory reportedly has a UAW organizing committee that’s speaking with workers. Some Tesla workers say they wouldn’t join a unionized company and predicted the UAW would struggle to find footing at Tesla. 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 The United Auto Workers might have set its sights on Tesla, but some workers at the EV…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Shell reported adjusted earnings of $6.2bn in the third quarter and increased share buybacks as robust oil prices and higher refining margins helped drive profits.The earnings, which were in line with market estimates, were down about a third from $9.5bn reported last year at the height of the energy crisis, but beat the $4.1bn in the same period of 2021.Shell left its quarterly dividend unchanged after but announced $3.5bn in share buybacks for the next three months, up from $3bn in the…