Secretary of the Treasury Janet Yellen speaks during a daily news briefing at the James Brady Press Briefing Room of the White House May 7, in Washington, DC. Alex Wong | Getty Images Treasury Secretary Janet Yellen urged congressional leaders on Thursday to step up spending, saying that the government […]
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Koch network hasn’t yet engaged much with White House after pledge to seek cooperation
Charles Koch, head of Koch Industries. Bo Rader | Wichita Eagle | Tribune News Service | Getty Images After years of working to influence the federal government, the billionaire Koch family’s influential political advocacy group and industrial conglomerate have yet to engage much with President Joe Biden’s White House. Records […]
Senate GOP unveils its $928 billion infrastructure counteroffer to Biden — here’s what’s in it
Senate Republicans unveiled their $928 billion infrastructure counteroffer to President Joe Biden on Thursday, as the sides see whether they can bridge an ideological gulf to strike a bipartisan deal. The plan includes: $506 billion for roads, bridges and major infrastructure projects, including $4 billion for electric vehicles $98 billion […]
Jobs picture shows more improvement as unemployment claims slide
The U.S. jobs market edged closer to its pre-pandemic self last week as initial jobless claims totaled just 406,000 for the week ended May 22, the Labor Department reported Thursday. While that level is still well above the pre-Covid norm, it is the closest to the previous trend since the […]
From Bronco EV to profit targets: Ford’s hits and misses during its investor day
Ford Motor Co. CEO Jim Farley walks to speak at a news conference at the Rouge Complex in Dearborn, Michigan, September 17, 2020. Rebecca Cook | Reuters Ford Motor‘s stock jumped 8.5% Wednesday during CEO Jim Farley’s first investor day as shareholders welcomed the automaker’s new “Ford+” plan aimed at […]
There’s a ‘unique’ opportunity in art, which has beat the S&P 500 over 25 years, asset manager says
Jean-Michel Basquiat’s Pyro is displayed to the press during the preview for Sotheby’s Frieze Week Contemporary Art Auctions at Sotheby’s on September 27, 2019 in London, England. Tristan Fewings | Getty Images Entertainment | LONDON — Contemporary art as an investment has outperformed the S&P 500 over the last 25 […]
Investing app Acorns to go public through a blank-check merger valued at $2.2 billion
Noah Kerner, CEO of Acorns. Adam Jeffery | CNBC Savings and investing app Acorns plans to go public by merging with a blank-check company. The fintech start-up announced a deal Thursday to combine with Pioneer Merger Corp., a publicly traded special purpose acquisition company, or SPAC. The merger values Acorns […]
The Fed keeps expanding its powers and that’s making some people nervous
Federal Reserve Board building is pictured in Washington, U.S., March 19, 2019. Leah Millis | Reuters The Federal Reserve seems to be having an identity crisis. Not that long ago, the U.S. central bank was seen solely as a watchdog of the nation’s financial system as well as the entity […]
Why a ‘crushing’ day for Big Oil represents a watershed moment in the climate battle
Members of the environmental group MilieuDefensie celebrate the verdict of the Dutch environmental organisation’s case against Royal Dutch Shell Plc, outside the Palace of Justice courthouse in The Hague, Netherlands, on Wednesday, May 26, 2021. Peter Boer | Bloomberg | Getty Images LONDON — Some of the world’s largest corporate […]
Stock futures fall slightly ahead of jobs data
Traders working at the New York Stock Exchange (NYSE), on May 19, 2021. NYSE Stock futures were slightly lower on Thursday as investors wait for new labor-market data to gauge the pace of the economic recovery. Futures on the Dow Jones Industrial Average dipped 32 points, while S&P 500 futures […]