Exclusive-Harris to release new economic proposals this week on US wealth creation, sources say
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U.S. Vice President Kamala Harris plans to announce new economic policies aimed at wealth creation for Americans this week, potentially in Pittsburgh on September 25, 2024; the proposals come as undecided voters seek economic clarity ahead of the November presidential election; Harris' previous campaign included significant pay hikes for public school teachers and measures to address pay gaps; her current economic agenda focuses on housing costs, taxes, and small business expenses; recent polls show Harris gaining trust on economic issues, with 44% of voters backing her compared to 42% for Trump; the Federal Reserve's recent interest rate cut may help lower consumer costs; some advisors suggest focusing on existing economic messages rather than new proposals; many of Harris' plans require congressional approval, contingent on Democratic control of both houses.

#KamalaHarris #EconomicPolicy #WealthCreation #2024Election #Pittsburgh #VoterTrust #Polls #BidenAdministration #RepublicanProposals #Inflation

https://kdal610.com/2024/09/22/exclusive-harris-to-release-new-economic-proposals-this-week-on-us-wealth-creation-sources-say/ 

 Morning Bid: With US economy humming, a quarter point will do
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The US economy is performing well, with American shoppers in good shape, WalMart increasing forecasts, and jobless claims decreasing. The Atlanta Fed's 'GDPNow' estimate for Q3 growth has cooled to 2.4% from 2.9%. The debate over whether the Federal Reserve's first rate cut will be a quarter or half point seems to have settled, with futures pricing in only 30 basis points of cuts for next month. Most Fed officials are prepared for easing to start next month. Wall Street is responding positively, with the S&P500 set to record its best week of the year. Japanese and European stocks are also performing well. Sterling is strong after British retail sales rebounded. Applied Materials forecasts higher revenue due to increased demand for chip-making equipment. Key developments for US markets today include housing starts and permits data, the University of Michigan household survey, and a speech by Chicago Federal Reserve President Austan Goolsbee.

#UsEconomy #FederalReserve #RateCuts #StockMarket #RetailSales

https://kdal610.com/2024/08/16/morning-bid-with-us-economy-humming-a-quarter-point-will-do/ 

 Fed to cut rates twice this year, with first move in September, economists say: Reuters poll
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The Federal Reserve will cut interest rates twice this year, in September and December, according to economists in a Reuters poll. The majority of economists believe that resilient U.S. consumer demand justifies a cautious approach despite easing inflation. Strong retail sales in June and a consensus view that the jobless rate won't rise much argue for patience. All 100 economists in the poll expect the Fed to keep rates unchanged on July 31. Over 80% of economists forecast a 25-basis-point cut in September, pushing the federal funds rate to the 5.00%-5.25% range. The outlook will depend on key data releases this week, including GDP and PCE price index data for June. Median forecasts in the survey suggest that the Fed will cut rates once in each quarter through 2025, taking the federal funds rate to the 3.75%-4.00% range by the end of 2025.

#FederalReserve #InterestRates #Economists #ReutersPoll

https://kdal610.com/2024/07/23/fed-to-cut-rates-twice-this-year-with-first-move-in-september-economists-say-reuters-poll/ 

 Nippon Steel hires Mike Pompeo to advise on US Steel deal, Kyodo reports
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Nippon Steel Corp. has hired former U.S. Secretary of State Mike Pompeo as an adviser on its efforts to acquire US Steel; Pompeo is a well-respected figure among both Democrats and Republicans; Both steelmakers have received all regulatory approvals outside of the United States for their proposed $14.9 billion merger; They face political opposition and regulatory scrutiny from within the U.S.; Nippon Steel also faces objections from the United Steelworkers (USW) union over fears of job losses; Both Donald Trump and Joe Biden have said they would block the deal.

#NipponSteel #MikePompeo #UsSteel #Merger #RegulatoryApprovals #PoliticalOpposition #RegulatoryScrutiny #UnitedSteelworkers #JobLosses #DonaldTrump #JoeBiden

https://kdal610.com/2024/07/20/nippon-steel-hires-mike-pompeo-to-advise-on-us-steel-deal-kyodo-reports/ 

 Fed’s Goolsbee: This is what the path to 2% inflation looks like
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Chicago Federal Reserve Bank President Austan Goolsbee stated that the U.S. economy is on track to achieve 2% inflation after a bump earlier this year. Goolsbee expressed confidence in the economy and suggested that interest rates may soon be cut. He described the recent government report showing a dip in consumer prices in June as 'excellent' news and stated that it indicated stronger-than-expected inflation readings in January were just a 'bump in the road.' Goolsbee also noted the easing in shelter inflation, which he found 'profoundly encouraging.' He did not disclose whether he would push for a rate cut at the next Fed policy meeting on July 30-31. However, he mentioned that keeping the policy rate steady effectively tightens the economy and that the current level of restrictiveness is as high as it has been in decades. Goolsbee emphasized that the economy is not overheating and that the labor market is cooling but still strong. He also stated that financial conditions are pretty restrictive and expressed his dislike for tying policy decisions. Goolsbee emphasized the need to decide when to cut rates rather than trying to figure out a rate path for the next seven months.

#FederalReserve #AustanGoolsbee #Inflation #InterestRates #Economy

https://kdal610.com/2024/07/11/feds-goolsbee-this-is-what-the-path-to-2-inflation-looks-like/ 

 Who’s who in Alec Baldwin’s ‘Rust’ shooting trial
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Nineteen months after charges were first filed against actor Alec Baldwin over the death of “Rust” cinematographer Halyna Hutchins the case reaches a climax this week when the actor faces a criminal manslaughter trial in Santa Fe, New Mexico. Key individuals involved in the case include: Halyna Hutchins, the Ukrainian director of photography who was shot and killed on set; Alec Baldwin, who is facing trial for criminal manslaughter; Hannah Gutierrez, the weapons handler who was convicted of involuntary manslaughter for loading the live round that killed Hutchins; Dave Halls, the first assistant director who took a plea deal from prosecutors; Kari Morrissey and Erlinda Johnson, the lead special prosecutors; Bryce Ziegler, the FBI firearms specialist who performed a test on Baldwin's gun; Lucien Haag, an independent firearms expert who examined Baldwin's gun; and Bryan Carpenter, the state's movie set firearms safety expert. Baldwin's defense team will try to challenge the findings of the firearms specialists and prosecutors in order to sow doubt among the jury.

#AlecBaldwin #Rust #ShootingTrial #HalynaHutchins #CriminalManslaughter #SantaFe #HannahGutierrez #DaveHalls #KariMorrissey #ErlindaJohnson #BryceZiegler #LucienHaag #BryanCarpenter

https://kdal610.com/2024/07/09/whos-who-in-alec-baldwins-rust-shooting-trial/ 

 Cathay Pacific to buy back remaining 50% of HK government’s preference shares
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Cathay Pacific Airways will buy back the remaining 50% of preference shares issued to the Hong Kong SAR Government on July 31, 2024. The company will also pay any remaining unpaid preference share dividends up to July 31, bringing the total dividends paid to the Hong Kong SAR Government to HK$2.44 billion. The stake being bought back by Cathay Pacific is valued at HK$9.75 billion ($1.25 billion).

#CathayPacific #HongKong #PreferenceShares #Buyback #Dividends

https://kdal610.com/2024/07/05/cathay-pacific-to-buy-back-remaining-50-of-hk-governments-preference-shares/ 

 You.com startup is raising $50 million as it targets AI-assistant market, says source
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The startup behind You.com is raising $50 million in fresh capital to target the AI-assistant market. The funding would value the company, SuSea Inc, between $700 million and $900 million. You.com's AI-infused search engine gained interest after ChatGPT, but its web traffic and app downloads have decreased. The company has transformed You.com into an AI assistant focused on productivity and internet search. You.com charges $15 per month for its premium consumer subscription. Its annual recurring revenue has grown five times since January. Venture capital firm Georgian is leading the fundraising.

#Youcom #Startup #Aiassistant #Funding #AiinfusedSearchEngine

https://kdal610.com/2024/06/17/you-com-startup-is-raising-50-million-as-it-targets-ai-assistant-market-says-source/ 

 Wall Street futures inch up on rate-cut bets
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U.S. stock index futures edged higher on Wednesday as investors strengthened bets on an earlier start to rate cuts by the Federal Reserve this year than previously expected. Markets are now pricing in about 44 basis points of easing this year. Additionally, expectations for a September rate reduction now stand around 65%, versus below 50% last week, according to the CME’s FedWatch tool. Rate-sensitive megacap stocks rose in premarket trading, with Nvidia, Microsoft, and Amazon.com up between 0.4% and 1.6%. Among individual movers, budget retailer Dollar Tree rose 2.2% after a report that the company plans to explore options that include a potential sale or spin-off of Family Dollar. Intel gained 1.0% after buyout firm Apollo Global Management agreed to purchase a 49% equity interest for $11 billion in a joint venture related to the chipmaker’s Ireland manufacturing unit. CrowdStrike Holdings jumped 7.4% after forecasting second-quarter revenue above estimates when markets closed on Tuesday, helped by strong demand for its cybersecurity offerings.

#WallStreet #RateCuts #FederalReserve #EconomicData #StockIndexFutures #InterestRates #Nvidia #Microsoft #Amazoncom #DollarTree #Intel #ApolloGlobalManagement #CrowdstrikeHoldings

https://kdal610.com/2024/06/05/wall-street-futures-inch-up-on-rate-cut-bets/ 

 Colombia paramilitary leader Salvatore Mancuso released by Bogota court
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Former paramilitary leader Salvatore Mancuso has been granted conditional release by a court in Colombia. Mancuso, a former top commander of the paramilitary United Self-Defense Forces of Colombia (AUC), was sent back to Colombia from the United States in February after serving a drug trafficking sentence there. He had been held in preventive detention in La Picota prison since his return. The AUC was the main paramilitary organization during Colombia's six-decade internal conflict, which resulted in over 260,000 deaths and millions displaced. Mancuso is accused of war crimes and human rights violations in Colombia.

#Colombia #Paramilitary #SalvatoreMancuso #BogotaCourt #UnitedSelfdefenseForcesOfColombia #Auc #WarCrimes #HumanRightsViolations

https://kdal610.com/2024/05/11/colombia-paramilitary-leader-salvatore-mancuso-released-by-bogota-court/ 

 More Chinese jump through hoops, crawl under nets to foster ties with pets
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Dog trail races are growing popular in China as the pace of pet ownership and active lifestyle pursuits picks up. China's outdoor sports market is expected to reach a value of 241 billion yuan ($33 billion) by 2025, while the pet consumption market grew 3.2% in 2023 to 279.3 billion yuan. Chinese pet owners are looking for opportunities to keep spending on their pets, considering them as their own children. Nearly 80% of Chinese pet owners maintained or increased spending on pets after the COVID-19 pandemic. LetsDog, which hosts monthly dog races, has seen increasing popularity and is organizing more niche races for popular dog breeds. The pet market is currently booming in China.



https://kdal610.com/2024/05/08/more-chinese-jump-through-hoops-crawl-under-nets-to-foster-ties-with-pets/ 

 Oil eases as US demand concerns outweigh fears over Middle East conflicts
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Oil prices eased in early trade on Thursday as concerns about a potential slowdown in the U.S. economy amid prospects for delayed interest rate cuts outweighed worries over the risk of expanding conflict in the Middle East. Brent crude futures dipped 9 cents, or 0.1%, to $86.95 a barrel at 0024 GMT, and U.S. West Texas Intermediate crude futures slipped 7 cents, or 0.1%, to $82.74 a barrel. Israeli warplanes pounded the northern Gaza strip for a second day on Wednesday in a fierce assault that has shattered weeks of comparative calm. U.S. business activity cooled in April to a four-month low, with S&P Global saying on Tuesday its flash Composite PMI Output Index, which tracks the manufacturing and services sectors, fell to 50.9 this month from 52.1 in March. Energy Information Administration (EIA) data on Wednesday indicated U.S. crude oil inventories unexpectedly fell last week as exports jumped, while gasoline stockpiles decreased less than forecast. Crude stocks slumped by 6.4 million barrels to 453.6 million barrels in the week ended on April 19, the EIA said, compared with expectations in a Reuters poll for an 825,000-barrel rise.



https://kdal610.com/2024/04/24/oil-eases-as-us-demand-concerns-outweigh-fears-over-middle-east-conflicts/ 

 Spain sees US-style economic boost from immigrant workers
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Spain is experiencing an economic boost from immigrant workers, particularly in the tech and restaurant sectors. Immigrants, mainly from Latin America, have come to Spain to fill post-pandemic labor shortages. Immigration accounted for 64% of new jobs created and half of Spain's economic growth in 2023. The proportion of resident foreigners in Spain is now 18.1%, above the EU average of 13.3%. Migrant job growth has been in technology or science, which more than doubled from 2018 to 2023, and in hospitality, which rose by 30% during the same period. Spain's ease of integration and shared language and culture with Latin America have contributed to the success of immigrant workers. The country has facilitated the migration wave through visas for highly qualified professionals and by recognizing the equivalence of some Latin American qualifications. However, there are concerns about driving down wages and poor working conditions for both immigrants and unemployed Spaniards.



https://kdal610.com/2024/04/24/spain-sees-us-style-economic-boost-from-immigrant-workers/ 

 Israel still imposing ‘unlawful’ restrictions on Gaza aid, UN rights office says
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Israel is still imposing "unlawful" restrictions on humanitarian relief for Gaza, according to the UN human rights office. Despite claims from Israel and others that restrictions have eased, the UN says that Israel continues to impose unlawful restrictions on the entry and distribution of humanitarian assistance, as well as carrying out widespread destruction of civilian infrastructure. The amount of aid entering Gaza is disputed, with Israel and Washington claiming that aid flows have increased, but UN agencies stating that it is still far below the minimum levels required to meet basic needs. Israel denies hindering humanitarian relief to Gaza.



https://kdal610.com/2024/04/16/israel-still-imposing-unlawful-restrictions-on-gaza-aid-un-rights-office-says/ 

 Israel still imposing ‘unlawful’ restrictions on Gaza aid, UN rights office says
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Israel is still imposing "unlawful" restrictions on humanitarian relief for Gaza, according to the UN human rights office. Despite claims from Israel and others that restrictions have eased, the UN says that Israel continues to impose unlawful restrictions on the entry and distribution of humanitarian assistance, as well as carrying out widespread destruction of civilian infrastructure. The amount of aid entering Gaza is disputed, with Israel and Washington claiming that aid flows have increased, but UN agencies stating that it is still far below the minimum levels required to meet basic needs. Israel denies hindering humanitarian relief to Gaza.



https://kdal610.com/2024/04/16/israel-still-imposing-unlawful-restrictions-on-gaza-aid-un-rights-office-says/ 

 Shell, Friends of the Earth each say European climate ruling backs their view in Dutch case
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Shell argues that a recent European climate ruling against the Swiss government supports their appeal against a Dutch climate ruling, stating that states, not courts, should set rules on emissions reductions. Friends of the Earth Netherlands, on the other hand, argues the opposite. Shell's lawyer claims that the European Court of Human Rights ruling in the Swiss case does not change the Dutch one, but confirms that emissions are a matter of state responsibility. Friends of the Earth Netherlands argues that the European ruling supports their side, stating that climate change is a human rights issue and that courts have a role in ensuring companies respect human rights. In 2021, a Dutch court ordered Shell to reduce its carbon emissions by 45% by 2030, including emissions caused by the buyers and users of its products worldwide.

#Shell #FriendsOfTheEarth #EuropeanClimateRuling #DutchCase #EmissionsReductions #ClimateChange #HumanRights

https://kdal610.com/2024/04/12/shell-friends-of-the-earth-each-say-european-climate-ruling-backs-their-view-in-dutch-case/