Biden Administration Shelves Plan to Ban Menthol Cigarettes
The White House is reversing course after weighing the health benefits of the ban against the political risk of angering Black voters.
(Bloomberg) -- President Joe Biden will quadruple tariffs on Chinese electric vehicles and sharply increase levies for other key industries this week, unveiling the measures at a White House event framed as a defense of American workers, people familiar with the matter said.Most Read from BloombergTrump Vows ‘Day One’ Executive Order Targeting Offshore WindPutin Names Economist as Defense Minister in Surprise ReshuffleChina to Start $138 Billion Bond Sale on Friday to Boost EconomyGlobal Chips B
(Bloomberg) -- Superpowers led by the US and European Union have funneled nearly $81 billion toward cranking out the next generation of semiconductors, escalating a global showdown with China for chip supremacy.Most Read from BloombergTrump Vows ‘Day One’ Executive Order Targeting Offshore WindPutin Names Economist as Defense Minister in Surprise ReshuffleChina to Start $138 Billion Bond Sale on Friday to Boost EconomyGlobal Chips Battle Intensifies With $81 Billion Subsidy SurgeIt’s the first w
(Bloomberg) -- Elon Musk and his social media website X Corp. were granted a reprieve in their fight against the Australian government after the presiding judge refused to extend an order mandating the removal of footage from a stabbing attack in Sydney.Most Read from BloombergTrump Vows ‘Day One’ Executive Order Targeting Offshore WindPutin Names Economist as Defense Minister in Surprise ReshuffleChina to Start $138 Billion Bond Sale on Friday to Boost EconomyGlobal Chips Battle Intensifies Wit
Two Air Force fighter jets recently squared off in a dogfight in California. It was the ultimate display of how far the Air Force has come in developing a technology with its roots in the 1950s. “Whether you want to call it a race or not, it certainly is,” said Adm. Christopher Grady, vice chairman of the Joint Chiefs of Staff.
China may be outspending the US when it comes to industrial policy in sectors like electric vehicles and semiconductors, but America is winning on innovation where it can’t on price, according to one China expert.
"The FTC should side with consumers and pump the breaks on this deal," Schumer said in a post on social media platform X, adding that the deal would give oil majors more leverage to raise gas prices. In October last year, Chevron agreed to buy Hess for $53 billion in stock to gain a bigger U.S. oil footprint and a stake in rival Exxon Mobil's massive Guyana discoveries. Schumer has previously also called for greater scrutiny of mega oil mergers as he along with 22 other Democratic senators wrote to the FTC in November last year, saying multi-billion dollar acquisitions by oil and gas giants Exxon and Chevron could lead to higher prices for consumers.
A sweeping White House move on China tariffs that is expected to be unveiled early next week "reflects lessons learned," according to a former official who was involved in the process.
Did lawmakers really pilfer Social Security's piggy bank? Here's the truth.
If financial markets are right, interest rates won't just stay high this year, but possibly forever. Yet making the right call on where rates settle is a huge challenge for policymakers and investors -- many economists reckon R-star is lower than before the great financial crisis, but disagree on how to calculate it, its current level and whether it is rising. BNY Mellon Investment Management's chief economist, Shamik Dhar, who reckons R-star has risen is "nervous that hasn't been fully priced into equity and property markets."
In the frantic weeks that followed Russia’s invasion of Ukraine, China’s most senior officials scrambled to understand the implications that the conflict posed for the Chinese economy.