Usa Financial News

President Joe Biden on Thursday sought to sell voters on an American “comeback story" as he highlighted longterm investments in the economy in upstate New York to celebrate Micron Technology's plans to build a campus of computer chip factories made possible in part with government support. Staring down a rematch with Republican Donald Trump, Biden was asking voters to buy into his vision of the future, at a moment when voters are most worried about enduring pressures from high inflation. The initial phase of New York project would open the first plant in 2028 and the second plant in 2029, with more time expected for the next two factories to be completed.

Native American tribes and environmentalists want a U.S. appeals court to weigh in on their request to halt construction along part of a $10 billion energy transmission line

Stocks that are trading heavily or have substantial price changes on Thursday: Meta Platforms, O’Reilly Automotive fall; Chipotle, TransUnion rise

Spicy, steaming, slurpy, ramen might be everyone’s favorite Japanese food

TikTok is gearing up for a legal fight against a U.S. law that would force the social media platform to break ties with its China-based parent company or face a ban

Shares in U.K.-based mining giant Anglo American have surged after it received a 31 billion-pound ($39 billion) takeover bid from rival BHP Billiton

Adani Green Energy, which is looking to develop a 25 gigawatt portfolio by 2025, is in advanced talks with Rabobank, MUFG, SMBC and DBS for a $400 million loan, according to people familiar with the development. The loan is likely to be priced at a secured overnight financing rate (SOFR) plus 250 basis points with a five-year tenor, they said. A basis point is a hundredth of a percentage point. The renewable energy arm of Adani Group will use the funds for capital expenditure, said one of the persons, who did not wish to be identified.

REC Ltd on Thursday said it has secured a green loan for JPY 60.536 billion (about Rs 3,200 crore) to finance eligible clean energy projects. The green facility benefits from an 80% guarantee by Italian export credit agency, SACE (Italy). In January, the company had issued its first yen-denominated 61.1 billion green bonds under its $10-billion global medium term notes programme.

TikTok ban bill, setting a firm deadline for ByteDance, the parent company of the popular video-sharing app, to sell its U.S. operations. The bill, passed by the U.S. Senate, imposes a deadline of January 24, 2025, for ByteDance to complete the sale process or face potential repercussions.

Interest rates could remain higher than expected in 2024 and 2025 as global commodity prices level off, the World Bank said in a report released Thursday. The report also noted that a significant flare-up in the Middle East could further stoke global inflation. «A key force for disinflation-falling commodity prices has essentially hit a wall. That means interest rates could remain higher than currently expected this year and next. The world is at a vulnerable moment: a major energy shock could undermine much of the progress in reducing inflation over the past two years,» said Indermit Gill, chief economist, World Bank. The World Bank's index of commodity prices has remained unchanged since mid-2023. The new Commodity Outlook projects prices are expected to decline 3% in 2024 and 4% in the following year.

major railroads promised to join after last year's disastrous Norfolk Southern derailment in Ohio. “Rail workers deserve to know they’re safe when they’re on the job — and if they experience anything that compromises their safety, they should be able to report it without worrying if their job is in jeopardy," said Transportation Secretary Pete Buttigieg.

According to global ratings firm S&P Global Ratings, a new bill focused on stablecoins introduced to the United States Senate has the potential to incentivize U.S. banks to enter the stablecoin market.

scoring 900 runs last season, then I don't think there would be any point in scoring those runs. It is my dream to be able to represent my country at a world stage in a tournament like that," Shubman Gill said while speaking to news agency ANI. "My captaincy experience has gone well.

Gold prices today: The yellow metal trimmed gains on Thursday, April 25, as US Treasury yields rose after gross domestic product (GDP) data showed signs of persistent core inflation, which in turn, lowered expectations of the Federal Reserve cutting interest rates anytime soon. Spot gold firmed 0.3 per cent at $2,321.70 per ounce after rising as much as 0.8 per cent earlier in the session. Prices were down over $100 from an all-time high of $2,431.29 scaled on April 12, fueled by geopolitical turmoil.

Apple is currently in the works for launching a special event that is tentatively related to a product as the event invitation is titled 'Let Loose'. This features a motion graphic of a hand holding a pencil-like item which suggests that the product in question may be related to iPads, according to USA Today. The illustration of the hand holding the pencil includes different versions of the event invite on different Apple platforms, including YouTube, application, and site.

Kenneth Rogoff, former chief economist of the IMF, is Maurits C. Boas Chair of International Economics at Harvard University. Speaking to Srijana Mitra Das, he discusses the record rise in military expenditure worldwide: Q. Recent reports find global defence spending now amounts to $2443 billion — which economic areas does this impact most? A. While military spending does spin off some technology, by and large, it is not good for growth or consumption because it’s destructive. The United States and Europe are facing pressures today because of Ukraine, the Middle East and potentially Taiwan — but the defence budgets of the West are tuned to a different era. We had a peace dividend after the Berlin Wall fell in 1989 — now, things are going into reverse. This raises the pressure on debt and inflation.

Hotstar, the streaming platform owned by Disney Star, will stream the upcoming ICC Men's T20 World Cup 2024 for free on mobile while charging on Connected TV (CTV), continuing its previous hybrid monetisation model for live sports, said people familiar with the development. In its marketing pitch to sponsors, the streaming behemoth stated that the month-long T20 competition, which will take place in the West Indies and the United States from June 1 to 29, has the potential to reach over 450 million viewers. Between March and August, it has offered brands an additional 150 million incremental reach with entertainment shows like Showtime Part 1 and 2, Kaphal, Special Ops 2A, Pratipashchandra, and Abhimanyu.

regulatory clarity on cryptocurrency trading in India and proposing that the government drafts legislation for monitoring digital assets as global financial hubs such as the US, UK and Hong Kong embrace crypto assets as legitimate trading instruments. “As more than 80% of G20 members and financial hubs are offering regulatory clarity on crypto assets, there’s an urgent need for a globally coordinated, clear policy framework on digital assets to mitigate risks and foster innovation,” the Bharat Web3 Association (BWA) said in a press note on Thursday.

Japanese automaker Honda is putting $15 billion into their Ontario operations with a new electric vehicle manufacturing plant in Alliston, Ont. with a joint $5 billion coming from the federal and Ontario governments.

Shares of Meta Platforms sank nearly 15 per cent on Thursday, sparking a selloff in big tech stocks after the social media giant signaled its costly bet on AI would take years to pay off.

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