Economy

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Biden Administration Takes a Swipe at Credit Card Industry

Commentary The Biden administration regulators see a monopoly boogeyman behind the curtain of nearly every business merger and acquisition—from airlines to cellphones to chicken producers. Now they’re trying to stop Capital One from acquiring the credit card company Discover. That’s a bizarre cease-and-desist order, because this acquisition by Capital One would INCREASE rather than inhibit […]

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California’s Average Gas Price Reaches $5 a Gallon

The state’s price has hit $4.99, 17 cents more than last year. In Los Angeles and San Francisco it’s even higher.

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Audi Issues 2nd Recall for Battery Fire Risk

The company warned its high voltage battery could experience a ‘thermal overload’ if charged to maximum capacity.

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Recession and Inflation: More Likely for Both Be Present Than Both Absence

Commentary While the Federal Reserve and Janet Yellen thought they had overcome high inflation, inflation began to bottom out but now has signs to reflate. This is exactly the story of stagflation in the 1970s, where, at that time, the Federal Reserve also thought it had overcome inflation but, in fact, had not. Inflation is […]

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Tesla Exits Australia’s Car Lobby Group Over Emissions Stand-Off

The car lobby has opposed the Labor government’s new vehicle emissions scheme as it would drive up car prices, but Tesla said the lobby has ‘misled’ consumers.

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California moves to allow illegals immigrants to ‘buy’ homes with no payment, zero-down loans

The bill allows illegal immigrants to qualify as first-time home buyers and get loans up to 20 percent of the price of a house and the loan does not accrue interest or require monthly payments.

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American Airlines Places Its Biggest Plane Order in More Than a Decade

NEW YORK—American Airlines on Monday unveiled its biggest plane order since 2011, buying 260 new jets from Airbus, Boeing, and Embraer as it looks to increase earnings by capitalizing on booming demand for premium travel. The deal includes 85 Airbus A321neo jets, 85 Boeing 737 MAX 10s, and 90 Embraer E175 aircraft. The order also […]

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Amazon to Be Added to the Dow Jones Industrial Average, Replacing Walgreens Boots Alliance

NEW YORK—Amazon.com Inc. is being added to the Dow Jones Industrial Average, joining Apple, Walt Disney, Walmart and other companies that make up the 30-stock average. The e-commerce giant will replace drugstore operator Walgreens Boots Alliance in the Dow before the open of trading on Monday, S&P Dow Jones Indices said Tuesday. The shift was […]

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NYC Sues Social Media Companies for Allegedly Fueling Youth Mental Health Crisis

New York City spends more than $100 million on youth mental health programs and services each year, according to the mayor’s office.

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Biden Admin Finalizes 2 Oregon Coast Areas for Floating Offshore Wind Farms

BOEM said it finalized the two areas after consulting with local tribes, but the tribes refute those claims, saying their concerns were ignored.

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Elon Musk Says Biden Gaslighting Americans After President Blames Trump for Border Crisis

President Biden has touted the bipartisan border security bill as a ‘win for America.’

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7 House Democrats Join Republicans Urging Biden Reverse on Natural Gas Export Pause

As European allies have turned from Russia to the United States for their natural gas, the lawmakers are questioning why the president would pause US supply.

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Energy Sector Calls on Government to Abolish Wholesale Gas Price Caps

Energy producers believed it was time for the government to lift restrictions on the market to ensure sufficient gas supply for Australia’s east coast.

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Musk Says Tesla Shareholders Will Vote on Moving Company From Delaware to Texas

Elon Musk said Tesla shareholders will vote on moving Tesla’s state of incorporation from Delaware to Texas after a Delaware judge voided his pay package.

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EBay Reaches $59 Million Settlement Over Pill Presses Sold Online Amid Opioid Epidemic

E-commerce giant eBay has agreed to pay $59 million to resolve allegations that the company violated the Controlled Substances Act (CSA) in connection with thousands of pill press machines that were sold on the platform, the Department of Justice announced on Jan. 31. The San Jose, California-headquartered company also agreed to enhance its compliance program […]

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Meta CEO Zuckerberg Apologizes to Parents at Intense Senate Hearing

Parents told lawmakers that their children had been exploited, bullied, or molested online while using one of Mr. Zuckerberg’s many platforms.