US senator plans bill to clamp down on blank check deals
Democratic U.S. Senator Elizabeth Warren is planning a bill to bound on the special purpose acquisition company, industry. This plan is after a proliferation of bad deals that have often resulted in huge losses for investors. Warren’s forthcoming SPAC Accountability Act of 2022 would increase the legal liability. Which too for a range of parties […]
US FAA shifts gears on certifying future flying taxi pilots
The Federal Aviation Administration said that it had shifted course on its approach to approving pilots of future electric vertical takeoff and landing aircraft but does not expect it would delay certification or operational approvals. The eVTOL aircraft have been touted as air taxis that could be the future of urban air mobility. The low-altitude […]
Google to invest $9.5 BLN in US offices
Alphabet Inc’s Google said that it plans to invest about $9.5 billion across its U.S. offices and data centers this year, up from $7 billion last year. Google said that the investment will create at least 12,000 full-time jobs in 2022 and focus on data centers in several states including Nevada, Nebraska and Virginia. The company […]
China, US working hard on solution to audit dispute
Chinese regulators and their U.S. counterparts are working hard to solve an audit dispute affecting U.S.-listed Chinese firms. They want to achieve effective and sustainable cooperation as soon as possible. The official China Securities Journal reported that the China Securities Regulatory Commission (CSRC) heard opinions from some U.S.-listed Chinese companies during an online meeting. They […]
Dollar edges up as jolt from Fed minutes wanes
The U.S. dollar edged up after a flurry of economic data. This includes weekly labor market numbers, in a more muted move a day after a spike higher. This is after following the release of minutes from the Federal Reserve’s meeting. The dollar sharply pared losses of as much as 0.44% after the minutes showed […]
After robust US retail sales data, Dollar is at 16 months high
The dollar rose to a 16-month high. This is after data showed U.S. consumers looked past rising prices. And they drove retail sales higher than expected last month. The euro slumped amid growth concerns and there is a surge in COVID-19 cases in Europe. U.S. retail sales rose 1.7% in October. This had topped consensus […]
US drops tariff threat in digital tax transition deal
The United States withdrew its threat of tariffs against five European countries over their digital services taxes. This is as a part of a deal to manage the transition to a new global tax regime for large highly profitable corporations. Austria, Britain, France, Italy, Spain will get to keep their digital taxes in place until […]
Yellen calls for strong action to boost data integrity at IMF
U.S. Treasury Secretary Janet Yellen called for strong action by international financial institutions. This is to protect data integrity and to prevent misconduct in the wake of a World Bank data-rigging scandal. Yellen, in a statement to the steering committee of the International Monetary Fund, also called for moves by international financial institutions. This is to enhance […]
US treasury will hold IMF chief
The second-ranking U.S. Treasury official told senators that the agency would hold International Monetary Fund Managing Director Kristalina Georgieva accountable for changes needed to safeguard IMF integrity in the wake of a World Bank data-rigging scandal. Deputy U.S. Treasury Secretary Wally Adeyemo told a U.S. Senate Banking Committee hearing that they did not find that it was appropriate […]
China’s belt and road plans losing momentum
China’s vast Belt and Road Initiative is in danger of losing momentum. Because, opposition in targeted countries rises and debts mount paved the way for rival schemes. President Xi Jinping launched BRI in 2013, in order to harness China’s strengths in financing and infrastructure construction. This is for building a broad community of shared interests […]