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☆ Roger Ferguson on new CEO survey: Recession concerns have 'faded drastically'
▼ + stars: | 2024-05-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRoger Ferguson on new CEO survey: Recession concerns have 'faded drastically'Roger Ferguson, The Business Council vice chairman, The Conference Board trustee and former Federal Reserve vice chairman, joins 'Squawk Box' to discuss the results of the 'Conference Board Measure of CEO Confidence' survey, the increase in cautious optimism among CEOs, top concerns facing executives, the Fed's inflation fight, and more.

Persons: Roger Ferguson Organizations: The Business, Federal Reserve

☆ Larry Hogan has raked in $157,000 for giving speeches in the last 2 years — including after he launched his Senate bid
▼ + stars: | 2024-04-15 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

Read previewLarry Hogan has made $157,000 from paid speeches since the end of his term as Governor of Maryland, according to financial disclosure documents filed on Sunday. Terry McAuliffe at the Self Storage Association's National Spring Conference — came after he launched his GOP Senate campaign on February 9. This story is available exclusively to Business Insider subscribers. AdvertisementRicci told Business Insider on Monday that Hogan does not plan to give any more paid speeches while campaigning for Maryland's US Senate seat. Related storyIndeed, plenty of figures in both parties have given — and faced scrutiny — for paid speeches in the past, the most famous case being Hillary Clinton.

Persons: —, Larry Hogan, Terry McAuliffe, Spring Conference —, Governor Hogan, Hogan, Michael Ricci, Ricci, Jordan Libowitz, Hillary Clinton, Mike Rogers, Tom Suozzi Organizations: Service, Virginia Gov, Spring Conference, GOP Senate, Business, Maryland's, Citizens, Responsibility, Washington, GOP Michigan, Democratic, American, Casualty Insurance, National, Housing, LG Ad, Business Council of Canada, Republican, Senate, Senate Republicans Locations: Maryland

☆ CEOs are feeling more confident about economy — and concerned about the election
▼ + stars: | 2024-02-08 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —US business leaders are feeling more bullish about the direction of the economy — even as their worries about the upcoming presidential election mount. The survey found 36% of CEOs expect economic conditions to improve in the short term, up significantly from 19% last quarter. In another sign that recession fears are ebbing, just 27% of the CEOs expect economic conditions to worsen over the next six months. However, business leaders are growing concerned about how the political situation could impact their businesses. About one-third (32%) of the CEOs report economic conditions to be better than six months ago, up from just 18% at the end of last year.

Persons: That’s, ” Roger Ferguson Organizations: New, New York CNN, The Conference, Conference Board, Business, Conference Locations: New York

☆ CEOs are finally starting to feel the general momentum in the economy, says Roger Ferguson
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCEOs are finally starting to feel the general momentum in the economy, says Roger FergusonRoger Ferguson, The Business Council vice chairman, The Conference Board trustee and former Fed Vice Chairman, joins 'Squawk Box' to discuss the latest results from the CEO confidence survey, why company executives are more optimistic on the state of the economy, and more.

Persons: Roger Ferguson Roger Ferguson Organizations: The Business, Fed

☆ US CEOs say they are feeling optimistic about the economy for the first time in 2 years
▼ + stars: | 2024-02-08 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

American CEOs are finally feeling more upbeat about the US economy, with the mood turning more positive for the first time in two years. Notably, the latest survey marks the first time the gauge has returned a positive reading since the first quarter of 2022. More CEOs also say they expect to expand their workforce in the next 12 months. Additionally, the percentage of leaders holding a bleak outlook for the economy dropped from 47% to just 27%. A resolution to the current military conflicts, AI advancements, and potential rate cuts were listed as the biggest potential positive developments for global business in 2024.

Persons: Roger W, Ferguson, Jr, Major Organizations: Business, Conference, Federal Reserve Locations: Israel, Ukraine, Russia, China

While over the years the pipeline's start date has been moved further back, supply has kept coming. Light synthetic crude from the oil sands, another key Canadian grade, is trading close to its deepest discount since 2020. With Canada exporting around 3.8 million bpd via pipelines, each additional dollar the discount widens amounts to millions in lost revenues for oil companies, analysts say. Conventional oil and gas producers will drill 8% more wells in 2024 to take advantage of greater access to pipelines including Trans Mountain. Rail exports hit 145,000 bpd in September, nearly doubling from May, according to latest data from the Canada Energy Regulator.

Persons: TMX, linefill, WCS, Martin King, It's, Heather Exner, Kevin Birn, Enbridge, James Davis ,, Jesse Jones, Jones, We're, John Zahary, Kent MacDougall, Nia Williams, Stephanie Kelly, Marguerita Choy, Denny Thomas, Simon Webb Organizations: Producers, Canadian, Canada, RBN Energy, Business Council of Canada, U.S ., P, ., Inc, Rail, Canada Energy Regulator, TMX, Altex Energy, Thomson Locations: Asia, British Columbia, Alberta, Canada, U.S . Canada

About 1 in 5 American workers, nearly 30 million people, are bound by noncompete agreements, according to the Federal Trade Commission. Horror stories about companies using noncompete agreements to trap workers in middling jobs or punish them for taking their skills elsewhere for better pay prompted New York legislators to pass a bill last June that would ban noncompete agreements. "But the fact that I had to spend a year fighting off my former employer was just wrong.”A handful of states, including California, already ban noncompete agreements. Other states, including Minnesota and Oklahoma, have laws that void noncompete agreements if a person is laid off. Advocates for the bill argue that striking noncompete agreements will actually be good for innovation.

Persons: Kathy Hochul hasn't, Richard Tatum, “, Tatum, Joe Biden, she’s, ”, Paul Zuber, Sean Ryan, ” Ryan, ” ___, Khan, Maysoon Organizations: Federal Trade Commission, New, Public Policy Institute, Business Council, New York City, Hochul, Democrat, Associated Press, America Statehouse News Initiative, America, Twitter Locations: ALBANY, N.Y, New York, California, Minnesota, Oklahoma, Florida, Texas, Silicon Valley

Experts say Trudeau's carbon pricing scheme, known as the carbon tax, works well and cannot be easily replaced. Even the left-leaning New Democrats, who support Trudeau's government in parliament and have previously defended the carbon tax, are calling for the exemption. Analysts said the carbon tax carve-out is another example of inconsistent policy. CARBON TAX REBATEThe carbon tax is intended to discourage use of fossil fuels and accelerate a switch to clean energy, but the recent carve-out underlines how fragile climate policy is in the face of pressing political calculations. In September, Bank of Canada governor Tiff Macklem said the carbon tax contributes about 0.15 percentage points to the inflation rate, which was 3.8% that month.

Persons: Justin Trudeau, Jessica Lee, Richard Brooks, Brooke, Brooks, Chris Severson, Baker, Pierre Poilievre, clobber Trudeau, Shachi Kurl, Angus Reid, Kurl, Jonathan Wilkinson, Wilkinson, Macklem, Trudeau, Robert Asselin, Asselin, Nia Williams, Steve Scherer, Josie Kao Organizations: Canada's, Ontario Chamber, Economic Summit, REUTERS, Rights Ottawa, Canadian, Provincial, New Democrats, Pembina Institute, Liberal, Conservative, Angus Reid Institute, Atlantic, Natural Resources, Reuters, Bank of Canada, Business Council of Canada, The Business Council, Thomson Locations: Toronto , Ontario, Canada, Ottawa

☆ Australia's Albanese to highlight trade on China visit as ties warm
▼ + stars: | 2023-11-03 | by ( Kirsty Needham | ) www.reuters.com time to read: +4 min

A quarter of Australia's export earnings come from China, more than the next three trade partners, the United States, South Korea and Japan combined, Albanese said on Tuesday. "Trade as an anchor provides stability and certainty to allow greater engagement while we navigate uncertain currents and obstacles that lie beneath," said Australia China Business Council president David Olsson. Chairman of the Business Council of Australia's global engagement committee, Warwick Smith, said Albanese would highlight the complementary nature of bilateral trade in a speech on Sunday to 500 business people. DIFFICULT TOPICSChina has lauded the visit's timing, on the 50th anniversary of the first to China by an Australian leader, then Prime Minister Gough Whitlam. Although the Albanese government has put dialogue at the centre of its approach to China, most policy remains the same, he said.

Persons: Anthony Albanese, Albanese, Xi Jinping, Richard Marles, David Olsson, Li Qiang, Fortescue, " Olsson, Warwick Smith, Gough Whitlam, Penny Wong, Xiao Qian, Richard Maude, Thomas, Maude, Kirsty Needham, Robert Birsel Organizations: SYDNEY, Australia China Business, Fortescue Metals, Rio Tinto, BHP, Business Council, Asia Society Australia, America, Thomson Locations: China, Shanghai, South, Beijing, Australia, United States, Canberra, Britain, Washington, South Korea, Japan, Rio, CIIE, Philippines, Taiwan

Amid the economic turmoil of the pandemic, his government racked up Canada's highest ever deficit. Failing to curb spending now risks "the market dictating to you what you have to do with fiscal policy," said Doug Porter, chief economist at BMO Capital Markets. "I do think they have to trim the sails a bit," he added. "It's going to be easier to get inflation down if monetary and fiscal policy are rowing in the same direction," Macklem said. Fitch Ratings stripped Canada of its triple-A credit rating in June 2020, citing pandemic spending.

Persons: Justin Trudeau, Doug Porter, Chrystia Freeland, Katherine Cuplinskas, Trudeau, Macklem, Desjardins, Randall Bartlett, Simon Deeley, Robert Asselin, DBRS Morningstar, Julia Smith, Steve Scherer, Fergal Smith, Denny Thomas, Josie Kao Organizations: OTTAWA, Trudeau's Liberal, BMO Capital Markets, Finance, International Monetary Fund, of Canada's, BoC, UK, RBC Dominion Securities Inc, New, Business Council of Canada, Fitch, Moody's Investors, Canada, Thomson Locations: Canada, FES, Germany, High, Ottawa, Toronto

☆ Australian Voice referendum: Australians vote No in referendum that promised change but couldn't deliver
▼ + stars: | 2023-10-14 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +7 min

“It is as Australians together that we must take our country beyond this debate without forgetting why we had it in the first place. “This is a referendum we should never had had because it was built on a lie that Aboriginal people do not have a voice,” he told the Australian Broadcasting Corporation. Yes campaigner Marilyn Trad told CNN that volunteers making calls to prospective voters had to break the news to some – this week – that there was indeed a referendum. The result means no constitutional change, but the referendum will have lasting consequences for the entire nation, according to experts. “So that power, to change, to modernize, to update the constitution has been put in the hands of the Australian people.

Persons: Anthony Albanese, ”, Warren Mundine, –, Martin Ollman, MC Hammer, John Farnham, “, Marilyn Trad, Kevin Argus, Argus, Mick Tsikas, Australia’s, Pat Dodson, ” “ We’ve, ” Maree Teesson, Teesson, Paula Gerber Organizations: Australia CNN —, Nations, Australian Electoral Commission, CNN, Sky News, SBS, Torres Straight Islanders, Torres Strait, ”, First Nations, Australian Broadcasting Corporation, Constitutional, Royal Melbourne Institute of Technology, RMIT, House, National Press Club, Aboriginal, Matilda Center for Research, Mental Health, University of Sydney, Law, Monash University Locations: Brisbane, Australia, Canberra, Old

U.S. Secretary of State Antony Blinken delivers remarks on PEPFAR at World AIDS Day event hosted by the Business Council for International Understanding in Washington, U.S. December 2, 2022. A deadline to renew long-term funding for the U.S. President’s Emergency Plan for AIDS Relief (PEPFAR) passed on Saturday, despite a stop gap deal reached to avoid a government-wide shutdown. Smith insisted that PEPFAR should not be reauthorized unless it barred nongovernmental organizations that used any funding to promote or provide abortion services. Advocates say PEPFAR does not fund or provide abortion services and that none of its money goes directly or indirectly to fund abortion services. The State Department says more than $100 billion has been spent on the global HIV/AIDS response through the program, which has saved 25 million lives.

Persons: Antony Blinken, PEPFAR, Jonathan Ernst, Matthew Miller, Miller, Biden, George W, Bush, Chris Smith, Smith, Simon Lewis, Patricia Zengerle, Alistair Bell Organizations: Business Council, International, REUTERS, United, U.S, State, President’s, AIDS Relief, PEPFAR, Republican, The State Department, Thomson Locations: Washington , U.S, United States, Congress, U.S, Washington, Africa, PEPFAR

In the past, he would have swiftly chopped 10% of the workers that run his bag-making machines, or about 15 people. Faced with the tightest job market in decades, many have become less trigger-happy with layoffs, even in the face of a cooling economy. But, so far, the economy has continued to grow, albeit more slowly, and the job market has powered onward. Reuters Graphics'HOLD ONTO YOUR LABOR FORCE'At least one major company has adopted a formal strategy of hoarding workers. "I don't think it's the case that many businesses are holding onto workers who are idle," she said.

Persons: Kevin Kelly, Nathan Frandino, Kelly, Alan H, Shaw, they're, Dana Peterson, Peterson, Arnold Kamler, Julia Pollak, Thomas Simons, We're, Timothy Aeppel, Dan Burns, Paul Simao Organizations: Emerald Packaging, REUTERS, Packaging, Employers, Federal Reserve, Labor, Reuters Graphics, Norfolk, Reuters, U.S, Survey, Labor Department, Conference Board, Business Council, Kent International, Jefferies, Thomson Locations: California, Union City , California, U.S, San Francisco, Norfolk Southern, downturns, Atlanta, New York, South Carolina, rehire, Los Angeles

☆ Canada's Trudeau sets sights on fourth election fight with Cabinet refresh
▼ + stars: | 2023-07-30 | by ( Steve Scherer | ) www.reuters.com time to read: +4 min

With a string of recent polls showing the left-leaning Liberals trailing their right-of-center Conservative rivals after almost eight years in power, Trudeau changed or shifted three-quarters of his cabinet. But with the influential Finance Minister Chrystia Freeland, who is also deputy prime minister, keeping her job, some analysts are questioning the real impact of the changes. But the deal is not binding and Trudeau needs his campaign team ready to go at any time. No Canadian prime minister since Wilfrid Laurier in 1908 has won four consecutive elections. "Any advantage the Conservatives have on this may well evaporate if we see inflation and interest rates 'normalize' by the next election."

Persons: Justin Trudeau, Liberal leader's, Trudeau, Pierre Poilievre, Justin, flation, Frank Graves, it's, Chrystia Freeland, Robert Asselin, Wilfrid Laurier, Shachi Kurl, Angus Reid, Steve Scherer, David Ljunggren, Marguerita Choy Organizations: OTTAWA, Canadian, Liberal, Liberals, Conservative, Abacus, Conservatives, EKOS Research, Business Council of Canada, New Democrats, Angus Reid Institute, Thomson

☆ Australian journalist nears 1,000 days in detention in China on state secrets charge
▼ + stars: | 2023-05-09 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

read moreHer arrest by state security in September 2020 came as China widened blocks on Australian exports amid a diplomatic dispute, but the barriers are falling now, with a visit by Australian Trade Minister Don Farrell planned. China has previously said Australia should respect China's judicial sovereignty, adding that her legal rights were being upheld. Foreign Minister Penny Wong said Cheng had shown "great resilience and courage", and the Australian government was concerned by the delay. Born in China, Cheng moved with her scientist parents to Australia as a 10-year-old. "No light has been shed on the allegations" against Cheng after three years, said former trade minister Simon Birmingham, whom she interviewed on his visits to China.

Biden will be in the capital Ottawa on Thursday and Friday to address Parliament and meet with Prime Minister Justin Trudeau. Despite the unity over Ukraine, the U.S. is less happy with Canada over its defense spending, which has long failed to meet the 2% target of GDP set by NATO members. But Canada's defense spending is around 1.3% of GDP, well below the NATO target of 2%. David Cohen, the U.S. ambassador to Canada, told CTV that defense spending would be "a topic of ongoing conversation ... because we do need more dollars for defense." Trudeau is likely make a commitment of sorts on Haiti but less than Washington is pressing for, said a source briefed on the summit.

☆ Roger Ferguson: CEOs are less pessimistic but not optimistic about economy
▼ + stars: | 2023-02-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRoger Ferguson: CEOs are less pessimistic but not optimistic about economyRoger Ferguson, vice chairman of the Business Council and trustee of the Conference Board and former Federal Reserve vice chairman, joins CNBC's 'Squawk Box' to discuss the results from a CEO sentiment survey, where cost pressures are loosening and more.

☆ What the Federal Reserve's 25 basis point interest rate hike means for investors
▼ + stars: | 2023-02-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat the Federal Reserve's 25 basis point interest rate hike means for investorsRoger Ferguson, vice chairman of the Business Council and trustee of the Conference Board and former Federal Reserve vice chairman, joins CNBC's 'Squawk Box' to discuss his take on the message from the Federal Reserve, what investors may have braced for but didn't hear from Fed chair Powell and more.

☆ Roger Ferguson: Fed more likely to move at 25 bps for the next 2-3 meetings
▼ + stars: | 2023-01-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRoger Ferguson: Fed more likely to move at 25 bps for the next 2-3 meetingsRoger Ferguson, vice chairman of the Business Council and trustee of the Conference Board and former Federal Reserve vice chairman, joins CNBC's 'Squawk Box' to discuss his thoughts towards the economy, what the terminal federal funds rate may be, and more.

SYDNEY, Dec 19 (Reuters) - Australian Foreign Minister Penny Wong will visit China this week, Prime Minister Anthony Albanese said on Monday, signalling an improvement in diplomatic relations between Beijing and Canberra. Wong will meet Chinese Foreign Minister Wang Yi and hold the sixth Australia–China Foreign and Strategic Dialogue, coinciding with the 50th anniversary of diplomatic relations between the two countries on Wednesday. It will be the first visit to China by an Australian minister since 2019, and the first formal talks in Beijing between the two nations' top diplomats since 2018. The significance of it is that it's a meeting not in a conference, but a physical meeting in Beijing. read moreAustralian diplomats have previously said Canberra's moves to improve ties with Beijing would not bring a shift in defence policy.

☆ The Fed clearly thinks it still has work to do against inflation, says Roger Ferguson
▼ + stars: | 2022-12-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed clearly thinks it still has work to do against inflation, says Roger FergusonRoger Ferguson, vice chairman of the Business Council and trustee of the Conference Board and former Federal Reserve vice chairman, and The Wall Street Journal's Greg Ip join CNBC's 'Squawk Box' to discuss the market's reaction to recent comments from Federal Reserve Chair Jerome Powell.

☆ Fed Chair Powell indicated rates will stay higher for longer than expected, says Roger Ferguson
▼ + stars: | 2022-11-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell indicated rates will stay higher for longer than expected, says Roger FergusonRoger Ferguson, vice chairman of the Business Council and trustee of the Conference Board and former Federal Reserve vice chairman, joins CNBC's 'Squawk Box' to react to the Fed's decision to hike interest rates by another 75 basis points.

☆ Canada to set up tax credits for clean tech, launch growth fund
▼ + stars: | 2022-11-03 | by ( Rachel Parsons | ) www.reuters.com time to read: +2 min

OTTAWA, Nov 3 (Reuters) - Canada will introduce refundable tax credits for clean technologies worth up to 30% of investment costs, in a bid to close competitive gaps with the United States in scaling up green technologies, the government said on Thursday. The clean-tech tax credits will be offered for investors in net-zero technologies, battery storage and clean hydrogen, according to the so-called fall economic statement (FES) presented to the House of Commons by Finance Minister Chrystia Freeland. The tax will generate an estimated C$2.1 billion over five years and will come into force on Jan 1, 2024. "In terms of trying to foster business investments, I don't think it's well targeted," said Robert Asselin, senior vice president of policy at the Business Council of Canada. In next year's budget, Canada will introduce new measures to increase advanced manufacturing competitivness, the document said.

Inflation has edged down over the last three months to 6.9% in September from 8.1% in June. The fiscal update showed "significantly weaker growth" next year that previous forecast, but the baseline numbers did not foresee a recession. It also cut its deficit forecast for this fiscal year by almost a third to C$36.4 billion from the C$52.8 billion deficit forecast in April. The update also included a tax on corporate stock buybacks similar to a measure introduced by United States. The fiscal update document forecast Canada's debt-to-GDP ratio would be 42.3% in 2022/23, versus 45.1% forecast in April, falling to 37.3% in 2027/28.

Canada now expects to welcome 465,000 new permanent residents in 2023, up 4% from a previous target, and 485,000 in 2024, up 7.5%. "This year's immigration levels plan will help businesses find the workers they need," said Fraser in a statement. He added the new targets would also allow Canada to fulfil commitments to help those fleeing violence and war in their home countries. A record number of Canadians are now retiring, hastening a mass exodus of Canada's most highly skilled workers and leaving businesses scrambling. In a statement on Tuesday, the Business Council of Canada called for "bolder targets" in economic immigration.

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