The top Democrat on the House of Representatives Appropriations Committee said on Friday that Republicans in Congress were protecting Elon Musk’s Chinese investments by scrapping provisions restricting US investments. Representative Rosa DeLauro said in a letter that Musk, CEO of electric car maker Tesla, may have upended the government funding process to remove a provision…
US stock futures pointed to another rough day on Wall Street Friday after the House of Representatives voted against a Trump-backed spending bill, further increasing the odds of a US government shutdown this weekend. Investors also digested key inflation data that showed a deceleration in price increases during the month of November after the Federal…
Investors this morning will closely be monitoring a key inflation report set to shape future monetary policy. The Federal Reserve’s preferred inflation gauge, the core Personal Consumption Expenditures (PCE) index, which strips out volatile food and energy costs, is expected to have risen 0.2% month over month in November after prices rose 0.3% in October,…
Top Republican members of the House of Representatives say lawmakers have begun discussions about Russia’s war in Ukraine in an effort to carry out President-elect Donald Trump’s campaign pledge to quickly end the conflict there. Lawmakers told VOA’s Ukrainian Service that they are optimistic that Trump can achieve his goal. Republican Representative Mike Waltz, who…
A look at the day ahead in U.S. and global markets from Mike Dolan The dollar continues to feed on a mix of post-election tariff and tax cut speculation, China’s struggle with deflation and Germany’s simmering political crisis – with the euro plumbing its lowest levels in almost five months. Even with bond markets effectively…
The US is upping the ante in its information war with China, with the House of Representatives backing a bill to spend US$1.6 billion within five years to promote anti-China propaganda, according to observers. The “Countering the PRC Malign Influence Fund Authorisation Act of 2023” was passed 351-36 earlier this month and will require Senate…
Hong Kong is facing more political and economic pressure in the wake of intensifying tensions between China and the United States. Shortly after an unjustified business alert by Washington over the perceived threats arising from the city’s national security laws, the government’s overseas trade offices in the US are also bracing for possible restrictions under…