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☆ Factbox-Thailand's Polarising Ex-PM Thaksin Shinawatra
▼ + stars: | 2024-02-17 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +4 min

(Reuters) - Thailand's billionaire former Prime Minister Thaksin Shinawatra was released from detention on Sunday, enjoying freedom in his country for the first time since fleeing into exile nearly 16 years ago to avoid jail. - Thaksin ran several failed businesses with his wife before getting his break in the 1980s leasing computers to the police. In 2010, a court seized $1.4 billion worth of Shinawatra assets, concluding Thaksin had concealed his Shin Corp shareholdings and tailored policy to benefit his business. - Thaksin's sister, Yingluck Shinawatra, was also prime minister and suffered an almost identical fate as him. - Thaksin's youngest daughter, Paetongtarn Shinawatra, 37, is Pheu Thai party leader and eligible to become prime minister.

Persons: Thaksin Shinawatra, Chiang Mai, Thaksin, Yingluck Shinawatra, Paetongtarn Shinawatra, Srettha Thavisin, Martin Petty, Raju Gopalakrishnan Organizations: Reuters, Eastern Kentucky University, Kentucky Fried, Thailand's, Shin Corporation, Shin Corp, English Premier League football, Fulham, Manchester City, Forbes, Thai Rak, Thai Rak Thai, People Power Party, Srettha Locations: Thai, Chiang, Kentucky, Singapore, Thailand, Liverpool, Dubai, Britain, Montenegro, Thai Rak Thai, Thai Rak, Bangkok

☆ A US productivity boom may explain how inflation slowed amid a strong economy
▼ + stars: | 2024-02-17 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

If productivity is strong, that means the US economy is doing more with less, or being more productive. Productivity is measured by dividing all the goods and services produced in the economy by every hour people worked. “But the economy did well, so that translated into higher productivity, supporting higher wage growth and fending off inflation from accelerating.”Last year’s productivity boom could also be a combination of all of the above. Still, it may be too soon to know if last year’s productivity burst was truly a transformative shift in the US economy. “Sometimes at the very end of an economic cycle, productivity can be boosted by cost-saving measures,” Goodwin of New York Life Investments said.

Persons: ” Lauren Goodwin, Mark Zandi, John Min, Austan Goolsbee, It’s, ” Min, ” Goodwin, ” Organizations: DC CNN, Labor Department, New York Life Investments, CNN, Microsoft, Meta, Citigroup, Monex, Federal Reserve, Chicago Fed, Bloomberg Locations: Washington

☆ Chinese consumers are about to return from the holidays. That doesn't mean the economy will pick up.
▼ + stars: | 2024-02-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

AdvertisementChina's economy and markets were weak coming into 2024, but investor sentiment could worsen after the ongoing Chinese New Year break. "Service consumption growth will likely slow sharply after the Chinese New Year holiday on fading pent-up demand and weakening consumer confidence," the economists wrote. Authorities have pulled more than a dozen moves since January to try to stabilize the stock market rout and support downbeat property market demand amid its real-estate crisis. After all, there were suggestions earlier that authorities are considering a stabilization fund to rescue the flailing stock market. AdvertisementMainland stock markets are closed this week for public holidays.

Persons: —, Rich Lesser, Lesser, Hang, Xi Jinping Organizations: Beijing, Service, Chinese Ministry of Commerce, Nomura, Boston Consulting, Hang Seng China Enterprises, Authorities Locations: China, Beijing, Hong Kong

☆ Your next Tesla could be made by China
▼ + stars: | 2024-02-14 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Elon Musk invited the suppliers to Mexico as part of plans for cheaper Teslas, Bloomberg reported. That move could be stoking concerns among US officials and EV makers over China's influence. China has a "highly organized, highly efficient supply chain," Venkatesh Prasad, chief innovation officer at the Center for Automotive Research, told Bloomberg. AdvertisementTesla, which also makes cars in the US, and other US-based EV makers may also be feeling the heat from competitors. Mary Lovely, a senior fellow at the Peterson Institute for International Economics, told Bloomberg.

Persons: Elon Musk, —, Tesla's, Venkatesh Prasad, Tesla, stoke, Katherine Tai, Tai, Biden, EVs, China's, Tesla's Musk, Mary Lovely Organizations: Bloomberg, Service, Center for Automotive Research, Business, Trump, Chinese Communist Party, US Trade Rep, Nikkei, EV, Peterson Institute for International Economics Locations: Mexico, Monterrey, Shanghai, Mexican, Nuevo Leon, Austin, China, Beijing, Washington, DC, United States

The bill would bar counties from usurping state law on agricultural operations, including revoking such county regulations that were previously adopted. “This bill is of specific interest to many Hardy County residents because it contains language that would explicitly address a situation specific to Hardy County,” county planner Melissa Scott wrote in an email to The Associated Press. It’s unknown whether Allegheny Wood Products, which has eight sawmills in the state, wants to resume its efforts to obtain an air permit. Also under the bill, county commissions also would be barred from adopting ordinances that regulate buildings on agricultural land or operations. "What activities are considered ‘related to agricultural operations’?

Persons: ”, John Rosato, comas, Melissa Scott, didn’t, Steven Schetrom, “, Jim Justice, Scott Organizations: Allegheny Wood Products, Environmental, Air Quality, U.S . Centers for Disease Control, Associated Press, AP, Republican Gov, Virginians Locations: CHARLESTON, W.Va, West Virginia, Allegheny, Hardy County, Baker, ”, Hardy, Virginia, Washington ,

☆ Trump says a Taylor Swift endorsement of Biden would be disloyal because he 'made her so much money'
▼ + stars: | 2024-02-11 | by ( Katie Balevic | Lauren Edmonds | ) www.businessinsider.com time to read: +2 min

Read previewFormer President Donald Trump took aim at Taylor Swift on Super Bowl Sunday in an apparent attempt to bolster his odds of regaining the presidency in November. They've accused her of being a Pentagon asset and part of a complex scheme to endorse Biden during the halftime of the Super Bowl, which they say is rigged. The former president took to his social media platform, Truth Social, on Sunday to say it would be a betrayal for Swift to endorse Biden. Advertisement"I signed and was responsible for the Music Modernization Act for Taylor Swift and all other Musical Artists. A spokesperson for Swift did not immediately respond to a request for comment from Business Insider on Sunday.

Persons: —, Donald Trump, Taylor Swift, Swift, They've, Biden, Trump, Joe Biden didn't, Taylor, Crooked Joe Biden, Swift's, Young Biden Organizations: Service, Super, Sunday, Republicans, Pentagon, Business, Biden, Trump

☆ Inside Project Espresso, Amazon's secretive and painful reset of its big healthcare bet
▼ + stars: | 2024-02-09 | by ( Eugene Kim | ) www.businessinsider.com time to read: +9 min

It already shut down the Amazon Care telehealth service in 2022, while disbanding Haven , a joint healthcare venture, in 2021. She said Amazon's healthcare business continues to grow and receive positive customer feedback. Less focus on senior healthcareAnother idea One Medical recently explored was to put less focus on the senior healthcare business. Still, for some One Medical employees, Amazon’s scrutiny is leading to growing frustration. “As Trent Green communicated to employees, One Medical employees will not return to physical offices at this time.

Persons: Big, Samantha Kruse, ” Kruse, Andy Jassy Chelsea Jia Feng, Neil Lindsay, ” Amazon’s Kruse, Amazon's Kruse, Lindsay, ”, Amir Dan Rubin, Kruse, Amazon’s, “, Trent Green Organizations: Business, Amazon, Care, Amazon Health Services, Amazon's Pharmacy, Amazon Health, Iora Health, Iora, “ Locations: New York, Minneapolis, St, Petersburg , Florida, Francisco

☆ Putin likely chose Tucker Carlson because of his ignorance of Russia, and it showed
▼ + stars: | 2024-02-09 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

Putin likely chose Carlson because of his ignorance of Russia and its history. Putin steamrolled Carlson with two hours of dubious history that he used to justify war on Ukraine. AdvertisementTucker Carlson claimed to be venturing into territory no other Western journalist had dared in interviewing Russian president Vladimir Putin. But when the interview was released on Thursday, another likely reason Putin chose the former Fox News host for the two-hour interview became clear. In response to earlier allegations that he's a pawn of Putin , Carlson told Axios in 2022: "I could care less."

Persons: Tucker Carlson, Russia's Vladimir Putin, Putin, Carlson, Putin steamrolled Carlson, —, Vladimir Putin, MAGA, Big Vlad, showboat, Ian Garner, Rurik of, he's, Axios, I've, I'm Organizations: Fox News, Service, UN Human Rights, Ukraine, CIA, NATO Locations: Russia, Ukraine, Rurik of Novgorod, United States

☆ Investors are hoping the power of Xi's personal attention will rescue China's floundering markets
▼ + stars: | 2024-02-07 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Markets have rallied on the news as it's stoking hopes that China will roll out a forceful rescue plan. China and Hong Kong's stock markets have lost nearly $7 trillion from their peaks in 2021. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The plan is to brief the country's top leaders about the state of the markets, Bloomberg reported, citing unnamed people with knowledge of the matter. But some analysts see these moves as less powerful than Xi's personal participation in stabilizing the markets — even though it's unclear if any new support measures will result from the meeting, Bloomberg reported.

Persons: Xi Jinping, it's stoking, —, Hang Seng, Xi, Li Weiqing, Li Organizations: Bloomberg, Markets, Service, China Securities Regulatory Commission, Hang, CSI, ING, Investment Management, Business Locations: China, Hong, Hong Kong, Beijing, Singapore

☆ The job market for startups and Big Tech is in a weird spot
▼ + stars: | 2024-02-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The big storyCareer makersInflection AI, Maven, Forage, The GrandWhich startup would you recommend a friend or family member should work at? That was the prompt for Business Insider's VC and startups team as it compiled a list of early-stage companies to bet your career on . The list doesn't have specific parameters, Leena Rao, the deputy editor of BI's VC and startups team, told me. With so much money pouring into AI startups, founders' attention will naturally be drawn to the tech when thinking about their next project. Meanwhile, the volatility among startups comes at a time of broader instability for the tech industry.

Persons: —, Elon Musk, Taylor Swift, Leena Rao, Maven, Alyssa Powell, Ben Bergman, there's, Moody's, Paul Tudor Jones, We've, Jenny Chang, Rodriguez, OpenAI, Samantha Stokes, Andrea Chronopoulos, Bob Iger, Lachlan Murdoch, David Zaslav, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, Business Insider's, Big Tech, Meta, Flagstar Bank, Facebook, YouTube, Google, BI, ESPN, Warner Bros, Fox, Walt Disney Company Locations: NYCB, New York, London

As some Guardian Angels began leaving Sliwa's side to attend to an off-screen disturbance, the camera panned to show them confronting an unidentified man, pushing him to the sidewalk and placing him in a headlock. The spokesperson did not respond to questions about whether any members of the Guardian Angels were under investigation for their role in the altercation. The incident came after a brawl in Times Square between police and a group of migrants generated waves of backlash against the city's asylum seekers. The Guardian Angels have been a fixture in New York since 1979 when Sliwa founded them to patrol the streets and subways during the city's high-crime days. City Councilmember Erik Bottcher, who represents the area around Times Square, said the group should not be detaining people without legal authority.

Persons: Curtis Sliwa, Sean Hannity, ” Sliwa, Hannity, Sliwa, ”, wouldn’t, Erik Bottcher, ” Bottcher, “, Jordan Neely, Daniel Penny Organizations: —, Guardian Angels, Fox News, Times, Yorker, New York Police Department, Police, Associated Press, U.S . Marine Locations: New York City, Bronx, New York, U.S

☆ The 'zombie economy' is haunting the stock market and stoking uncertainty, strategist says
▼ + stars: | 2024-02-07 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

The "zombie economy" is haunting the stock market and stoking uncertainty, Canaccord Genuity's chief market strategist told Bloomberg. AdvertisementThe stock market has been jittery lately. One strategist says they've created a "zombie economy" that's contributed to volatility as interest rates have risen. "We kind of still have the zombie economy," Tony Dwyer, the chief market strategist at Canaccord Genuity, told Bloomberg on Wednesday. It's that uncertainty that is bleeding into the stock market.

Persons: Canaccord, —, they've, that's, Tony Dwyer, Genuity, It's, That's, Dwyer, haven't, Jerome Powell Organizations: Bloomberg, Service Locations: New York

☆ NYCB's slide sparks fears of more banking and commercial real estate turmoil
▼ + stars: | 2024-02-07 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

The regional bank reported disappointing earnings, stoking fears of commercial real estate trouble. AdvertisementA smaller lender is facing a firesale of its stock fueled by concerns about its stability, echoing the regional-banking problems last year that stoked fears of a full-blown financial crisis and commercial real estate meltdown. AdvertisementThe increases hit the value of their fixed-income and commercial real estate portfolios. In particular, commercial real estate is under pressure from ongoing remote working, tighter credit availability as lenders have pulled back, and higher debt costs, all of which have weighed on asset values. Treasury Secretary Janet Yellen told lawmakers this week she expects the commercial real estate pressures to "put a loss of stress" on property owners, although she expected it to be manageable, Bloomberg reported.

Persons: stoking, —, stoked, NYCB, Banks, Moody's, Wall, Thomas Cangemi, pare, Janet Yellen Organizations: Community Bancorp, Service, New York Community Bancorp, Flagstar Bank, Signature Bank, Valley Bank, Silvergate, Bloomberg, Federal

☆ Factbox-Candidates for Indonesia's Presidential Election
▼ + stars: | 2024-02-06 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +4 min

(Reuters) - Indonesia holds a presidential election on Feb. 14, with three contenders vying to succeed incumbent Joko Widodo, or Jokowi, as leader of the world's third-largest democracy and its most populous Muslim-majority nation. He is not a member of a political party but is backed by three parties, including a secular party in the ruling coalition and the conservative Islamic Prosperous Justice Party (PKS). He is the nephew of the late Abdurrahman Wahid, or Gus Dur, a well-respected former president and religious leader. After losing the 2019 election, he was appointed defence minister by Jokowi, a move analysts say helped heal divisions. Prabowo chairs the Great Indonesia Movement (Gerindra) party, which endorsed him as its presidential candidate last year.

Persons: Joko Widodo, ANIES BASWEDAN, Jokowi, Anies, Basuki Tjahaja, Muhaimin Iskandar, Imin, Abdurrahman Wahid, Gus Dur, Ganjar, Mahfud, Mohammad Mahfud Mahmodin, Suharto, Prabowo, Gibran Rakabuming Raka, Gibran, Ananda Teresia, Stanley Widianto, Kanupriya Kapoor, Martin Petty Organizations: Reuters, Fulbright, Islamic Prosperous Justice Party, National Awakening Party, Ulama, Indonesian Democratic Party of Struggle, Israel, Islamic, NU, Mahfud, Great Indonesia Movement, Constitutional Locations: Indonesia, Jakarta, Chinese, East Java, Central Java, Surakarta

UNITED NATIONS (AP) — Russia accused the United States on Monday of aggression against Iraq and Syria aimed at preserving its global dominance and salvaging the Biden administration’s “image” ahead of U.S. elections. Many council members expressed fears of a growing Mideast conflict and urged de-escalation and stepped-up peace efforts. Wood stressed that the United States doesn’t want more conflict in a region where it is “actively working to contain and deescalate the conflict in Gaza." "And we are not seeking a direct conflict with Iran,” Wood said “But we will continue to defend our personnel against unacceptable attacks. Ambassador Zhang Jun, a Russian ally, echoed her concerns about escalating tensions and actions, and pointed a finger at the United States.

Persons: Russia’s U.N, Vassily Nebenzia, ”, Robert Wood, Wood, ” Wood, “, Iran’s U.N, Amir Saeid Iravani, ” Iravani, ” U.N, Rosemary DiCarlo, Antonio Guterres, U.N, Zhang Jun, ” Zhang, Algeria’s U.N, Amar Bendjama, ” Bendjama Organizations: UNITED NATIONS, —, Biden, Security, U.S, . Army Locations: — Russia, United States, Iraq, Syria, U.S, Iranian, Russia, Syria’s, Israel, Lebanon, Sea, Yemen, Syrian Arab Republic, Russian, Iran, Jordanian, Monday’s, Gaza

“It’s a very difficult time in college basketball, because it’s free agency. “So, I think the NCAA enforcement staff just should be disbanded. That’s why I say — so I‘m not knocking the enforcement staff — they’re going to get taken to court every time they try to make a rule. The final ruling from the NCAA’s outside enforcement arm on the FBI case came down in November 2022 and exonerated Pitino. You’ve got to really innovate, get creative and understand these rules right now — or lack of rules.”___AP college basketball: https://apnews.com/hub/ap-top-25-college-basketball-poll and https://apnews.com/hub/college-basketball

Persons: Rick Pitino, “, John's, It’s, …, Pitino, stoking, ” Pitino, can’t, — they’re, You’ve, ” Organizations: Hall of Fame, NCAA, University of Tennessee, UConn, Madison, Garden, Huskies, Kentucky, Louisville, FBI, Iona Locations: Tennessee, Virginia, Louisville

He fought hard in state after state, even as the front-runner amassed a delegate advantage that would be virtually impossible to overcome. Haley decided to skip Nevada’s presidential caucuses next Thursday in favor of a state primary election two days earlier that does not award delegates. Trump could embarrass Haley in her home state of South Carolina later in the month, where the former president has a loyal following. In New Hampshire's recent primary, for example, Trump won a decisive victory against Haley backed by his popularity among traditional Republican voters. The Haley campaign has already rolled out leadership teams and “Women for Nikki” chapters in all 15 Super Tuesday states.

Persons: Bernie Sanders, Hillary Clinton, Nikki Haley, she's, Donald Trump, Haley, Joe Biden, David Urban, Biden, ” Urban, she’s, ”, Sanders, Trump, “, “ Nikki Haley, “ birdbrain, HALEY, Nachama Soloveichik, She's, Soloveichik, Eric Levine, Betsy Ankney, Susie Wiles, Ken Griffin, Paul Singer, ” She's, “ He’s, He’s, Ronna McDaniel, Hopper, Trumper, ” Hopper, isn't, Nikki ”, Koch, Emily Seidel, Michael Palmer, Seidel, Palmer, Haley's, Republican pollster Neil Newhouse, ” ___ Organizations: COLUMBIA, Democratic, GOP, Republican, Trump, Washington Post, Monmouth University, Biden, New York, South, AP VoteCast, Capitol, Haley, Prosperity, AFP, ” ___ Peoples Locations: Iowa, New Hampshire, Vermont, South Carolina, New, York, Florida, South Carolina’s, Michigan, South Carolina , Michigan, Tennessee , North Carolina , Arkansas, Virginia, California, New York

Roughly 40,000 American troops are stationed across the Middle East, mostly in countries with close ties to the United States. There were more than 160,000 American troops in Iraq alone in 2007, during the war that followed the U.S. invasion. Image Al Asad Air Base in western Iraq in 2019. Credit... Nasser Nasser/Associated PressWhy are so many troops there? A military coalition led by the United States, including forces in Syria and Iraq, defeated it. President Biden has retaliated with attacks on Iran-aligned militants, hitting groups in Iraq, Syria and Yemen.

Persons: Jan, Al, Nasser Nasser, Biden, Israel —, Al Tanf, ” Gen, Hossein Organizations: U.S, Al Asad, Al Asad Air Base, Hezbollah, Army, Air Force, Washington, Operations, Navy’s, U.S . Central Command, Associated, Islamic, U.S ., Pentagon, ”, Iran’s Revolutionary Guards Corps Locations: Jordan, Iraq, United States, State, U.S, Al Asad Air, Iraq’s, Syria, Lebanon, Iran, Azraq, Kuwait, Bahrain, Qatar, Gaza, Afghanistan, Ukraine, Russia, China, American, Islamic State, Mosul, Raqqa, Israel, Yemen

☆ Iran Tries to Avoid War With U.S. After Stoking Mideast Conflicts
▼ + stars: | 2024-02-01 | by ( Farnaz Fassihi | ) www.nytimes.com time to read: +1 min

Iran’s Supreme National Security Council held an emergency meeting this week, deeply worried that the United States would retaliate after an Iran-aligned militia in Iraq killed three American soldiers and wounded more than 40 others in Jordan. The council, including the president, foreign minister, chiefs of the armed forces and two aides to the country’s supreme leader, debated how to respond to a range of possibilities, from a U.S. attack on Iran, itself, to strikes against the proxy militias that Iran backs in the region, according to three Iranians with knowledge of the council’s deliberations who were not authorized to speak publicly. They relayed the plans developed at the Monday meeting to the supreme leader, Ayatollah Ali Khamenei, the people familiar with the discussion said, and he responded with clear orders: avoid a direct war with the United States and distance Iran from the actions of proxies who had killed Americans — but prepare to hit back if the United States struck Iran.

Persons: Ayatollah Ali Khamenei Organizations: Iran’s, National Security Council Locations: United States, Iran, Iraq, Jordan, U.S

☆ Top Putin ally says a 'destructive civil confrontation' could happen in the US over Texas border standoff
▼ + stars: | 2024-01-28 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

Dmitry Medvedev taunted the Biden administration over the escalating Texas border standoff. He predicted a "destructive civil confrontation" and suggested Texas could become a separate country. The border standoff has catapulted debates about how to handle migration into the spotlight. AdvertisementA former Russian president and ally of Vladimir Putin taunted the Biden administration over the Texas border crisis and suggested a "destructive civil confrontation" in the US could be coming. The border standoff has catapulted debates about how to handle migration into the spotlight, with Republicans criticizing the Biden administration for high numbers of migrants.

Persons: Dmitry Medvedev, Biden, —, Vladimir Putin, Greg Abbott, Medvedev, Marjorie Taylor Greene, Abbott, Texit, Putin, Donald Trump Organizations: Service, Texas Gov, Georgia, Border Patrol, Texas National Guard, Newsweek, Texas People's, The Washington Post, Republican Locations: Texas, Russian, Republic of Texas, Russia, Ukraine, jabbed, Texas People's Republic

☆ Stock futures fall ahead of big tech earnings and Fed meeting decision: Live updates
▼ + stars: | 2024-01-28 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

The Dow Jones and S&P both hit all time highs with the Dow Jones closing over 38,000 points for the first time ever as stocks continue to rise. U.S. stock futures fell across the board Sunday night as Wall Street looked toward several mega-cap tech earnings reports and the Federal Reserve's rate policy decision. Futures tied to the Dow Jones Industrial Average declined 86 points, or 0.2%. This week marks the busiest week of the earnings season, with 19% of the S&P 500 reporting earnings. Traders in the fed funds futures market assigned an almost 97% probability the Fed will not cut rates at the upcoming meeting, according to the CME Group.

Persons: Dow Jones, Tesla, Sonu Varghese Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Intel, Microsoft, Apple, Dow, Boeing, Merck, Federal, Traders, CME, Carson Group Locations: New York City, . U.S

☆ Australia marks national day that stokes patriotism and anger
▼ + stars: | 2024-01-26 | by ( Angus Watson | ) edition.cnn.com time to read: +9 min

Sydney CNN —“Australia Day is Dead!” Indigenous activist Gwenda Stanley chants into the loudspeaker, as a crowd of thousands breaks into applause. This is not a day to celebrate.”Nearby, Kevin Shaw-Taylor agrees January 26 is “absolutely not” an appropriate day for national celebrations. On the other side of the city, the Australia Day party was in full swing. A yacht sails in Sydney Harbor to mark Australia Day on January 16, 2024. Instead of guilt on Australia Day, a vast number of Australians “associate it with summer fun,” says Bongiorno, from the ANU.

Persons: Gwenda Stanley, It’s, Lynda, June Coe, Jenny Evans, ”, Grace, Elise, Kevin Shaw, Taylor, Arthur Phillip, Dan Himbrechts, EFE, Frank Bongiorno, –, Asanka Ratnayake, Chelsea Watego, “, Peter Dutton, ” Dutton, Dutton, Brad Banducci, Banducci, ” Banducci, Captain Cook, Queen Victoria, Queen, Diego Fedele, “ I’m, UQ’s, we’ve, we’re Organizations: Sydney CNN —, Indigenous, “, CNN, Australia, First Nations, Sydney, British Royal Navy, Australian National University, ANU, Aboriginal, Torres Strait Islanders, Voters, Nations, Curumba, Sea, Indigenous Voice, Coalition, Woolworths, Sovereign Movement, Blak Locations: Sydney, “ Australia, Belmore, Sydney’s, Australia, Sydney Harbor, Melbourne, Queensland, Queen Victoria

☆ Dollar treads water ahead of U.S. GDP; ECB meeting in spotlight
▼ + stars: | 2024-01-25 | by ( ) www.cnbc.com time to read: +4 min

Traders have been consolidating positions ahead of the Federal Reserve's policy meeting next week. The report is, however, likely to show that the U.S. avoided a recession in 2023 and is expected to show moderating inflation in the last quarter, stoking expectations of rate cuts sometime in the first half of 2024. Other U.S. data this week includes the Fed's favourite gauge of inflation - the personal consumption expenditure (PCE) data - on Friday. The move from the central bank comes after a Bloomberg report earlier this week of a rescue package worth $278 billion to help stabilise the battered stock markets. The Australian dollar and the New Zealand dollar struggled to sustain a China-inspired rally earlier this week.

Persons: Kieran Williams, Jerome Powell, Kazuo Ueda Organizations: Central Bank, Traders, U.S, Asia FX, InTouch, ECB, Wednesday, Bloomberg, Australian, New Zealand, Aussie, Bank of, Bank of Japan Locations: Asia, U.S, China

☆ Australia's Labor Government Defends Shift in Personal Tax Policy
▼ + stars: | 2024-01-24 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

The government has reached a "different view" about the already-legislated tax cuts, Treasurer Jim Chalmers said, as the conservative opposition coalition criticised the government for breaking an election pledge of retaining the tax cuts. Chalmers said the tax policy shift would help build trust as it was designed to provide more cost-of-living relief for more people without stoking inflation. Under the new policy, people earning up to A$140,000 ($92,050) will enjoy lower taxes from July 1, Australian media reported. A 37% tax band would be retained for some high earners, with the savings redirected to those on low incomes. That has dented Albanese's ratings since his 2022 election win.

Persons: Renju Jose SYDNEY, Jim Chalmers, Chalmers, Anthony Albanese, Albanese, reneging, James Paterson, Renju Jose, Richard Chang Organizations: Labor, Channel, National Press, Labor Party, Home Affairs, Sky News Locations: Sydney

☆ Oil prices dip on weak demand, strong dollar
▼ + stars: | 2024-01-24 | by ( ) www.cnbc.com time to read: +3 min

File: A Repsol Oil Operations oil drilling rig pounds into the desert searching through thousands of feet for and oil reserve in El-Sharara, Libya. Oil prices edged lower on Wednesday, weighed down by concerns over tepid demand and a stronger dollar even though escalating geopolitical tensions limited the losses. Gasoline inventories, however, increased by 7.2 million barrels, stoking concerns over fuel demand in the world's top oil consumer. A stronger U.S. dollar also weighed on oil prices as demand from buyers in other currencies ebbs as they have to pay more for dollar-denominated oil. Elsewhere, U.S.'s third-largest oil-producing state of North Dakota brought some oil output back online after weather-related disruption, the state's pipeline authority said.

Persons: Vikas Dwivedi Organizations: Operations, Brent, . West Texas, American Petroleum Institute, The Energy Information Administration, U.S . Department of Energy, Federal Reserve, Macquarie, U.S, Houthi, Sharara, Jan Locations: El, Sharara, Libya, Russia, Ukraine, Yemen, Britain, U.S, Iran, Red, Iraq, Iraqi, North Dakota

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