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Wednesday, Oct 05, 2022
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‘There’s no executioner’: The plot to replace World Bank boss stalls
David Malpass’ missteps on climate change haven’t brought the swift end to his career his foes had hoped for.
U.S. bank regulators consider new rules for regional banks in times of crisis, Wall Street Journal reports
A group of bank regulators appointed by U.S President Joe Biden is considering new rules which will require big regional banks to add financial cushions that can be used in times of crisis, the Wall Street Journal reported on Sunday.
Joe Biden Mocked for Tweeting About EVs With Pic of Gas Car
US president Joe Biden confused a gas-guzzling Corvette sports car for an electric vehicle in a recent tweet.
North Korea declares itself a nuclear weapons state
North Korea has passed a law declaring itself to be a nuclear weapons state, according to state news agency KCNA.
Electric cars rekindle transatlantic trade war
Europe is incensed over a generous subsidy encouraging US consumers to ‘Buy American’ when it comes to greener cars.
Russians set up method to convert wire currency into Chinese yuan, sparking fears of alliance
Russian state-controlled bank VTB announced that it has set up a system to send money transfers to China in yuan without using the SWIFT messaging system, bypassing international sanctions and sparking more fears of increased cooperation...
First Solar pledges big U.S. factory expansion thanks to climate law
First Solar Inc will spend $1.2 billion to expand its solar panel manufacturing operations in the United States, creating hundreds of jobs including with a new factory in the Southeast, the company said on Tuesday.
Interest In Nuclear Power On Rise As Cost Of Importing Energy Increases
Investment in nuclear power declined after Japan's 2011 Fukushima disaster, the world's worst nuclear accident since Chernobyl in 1986, as fears over its safety increased and governments ran scared.
Biden Signs Order On $52 Billion Semiconductor Chips Law Implementation
The "Chips and Science" law also includes an investment tax credit for chip plants estimated to be worth $24 billion.
California To Ban Sale Of New Petrol-Powered Cars By 2035
Move comes on the heels of a climate law signed last week by US President Joe Biden, which sets aside hundreds of millions of dollars in incentives for clean energy programs.
Dangerous heat predicted to hit 3 times more often in future
What’s considered officially “dangerous heat” in coming decades will likely hit much of the world at least three times more often as climate change worsens, according to a new study.
Twitter's Ex Security Chief Claims Company Lied About Bots And Security
CNN quotes the disclosure by Peiter Zatko as accusing Twitter of "negligence, willful ignorance, and threats to national security and democracy."
America used to regulate business. Now government subsidises it
What’s to blame? The change in the balance of power between large corporations and the government
China cuts off vital US contacts over Pelosi Taiwan visit
China cut off contacts with the United States on vital issues Friday — including military matters and crucial climate cooperation — as concerns rose that the Communist government’s hostile reaction to House Speaker Nancy Pelosi’s Taiwan ...
Nuclear is bouncing back
The case for nuclear power generation has been boosted by the race to reduce carbon emissions. As Myles McCormick reports from the US, although older reactors struggle to compete with more efficient gas and renewable producers, support f...
U.S. GDP figures worse than these 7 major countries
The United States saw worse economic growth than seven other major economies in the second quarter of 2022, according to an analysis of government statistics.
Define ‘recession’: Biden’s administration refuses to see economic reality
Instead of addressing the most pressing problem of regular Americans, the president and his staff play word games
US plunges into recession
The US economy has shrunk for two consecutive quarters, meeting one of the criteria for a recession, official figures released on Thursday suggest.
Saudi Arabia, Greece to sign energy deal, Crown Prince MBS says
Saudi’s Mohammed bin Salman is visiting Greece and France on a his first EU visit since the 2018 murder of journalist Jamal Khashoggi.
Warning: Biden says US 'not going to be in a recession'
Markets should be on alert as President Joe Biden said he does not expect the United States to enter a recession. In translation from Biden's language to the language of reality it means that there is a very certain probability that the ...
Gas prices have now dropped for 30 days in a row - and a gallon at the pump costs 44 cents less than last month
Prices at the pump are 9% cheaper than a month ago as growing recession concerns have sent US crude oil below $100 per barrel.
Log4j software flaw 'endemic,' new cyber safety panel says
A computer vulnerability discovered last year in a ubiquitous piece of software is an “endemic” problem that will pose security risks for potentially a decade or more, according to a new cybersecurity panel created by President Joe Biden.
US inflation surges again in June, raising risks for economy
U.S. inflation surged to a new four-decade high in June because of rising prices for gas, food and rent, squeezing household budgets and pressuring the Federal Reserve to raise interest rates aggressively -- trends that raise the risk of...
U.S. annual consumer inflation posts largest increase since 1981
U.S. annual consumer prices jumped 9.1% in June, the largest increase in more than four decades, leaving Americans to dig deeper to pay for gasoline, food, healthcare and rents, and the Federal Reserve most certain to hike interest rates...
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