US Officials up pressure on firms, foreign adversaries over cyber attacks
U.S. officials ratcheted up pressure on companies and foreign adversaries to fight cybercriminals and they also said that President Joe Biden is considering all options, including a military response, to counter the growing threat. U.S. Commerce Secretary Gina Raimondo, when asked about if military action was being considered said that the Biden administration is looking […]
US chip subsidy effort faces pushback over china issues
A series of amendments for a $190 billion U.S. Senate bill aimed at countering China’s technology challenge are in limbo after business groups protested proposals intended to ensure that none of the money finds its way to China or other U.S. rivals. U.S. business’s future operations could be disrupted because of the new regulations or […]
Fund managers see value, cyclical stocks running further despite slow US jobs recovery
Some technology stocks got a boost after a disappointing U.S. jobs report. Some portfolio managers say that blow-out earnings from several large technology companies over are not enough to keep making outsized bets on the sector. Instead, those fund managers say that they are continuing to rotate into value and cyclical stocks. But their fortune […]
US removes Xiaomi from blacklist, reversing late China Jab by Trump
A court filing showed that the US Department of Defence will remove China’s Xiaomi Corp (1810.HK) from a government blacklist. This is as per the marking a noteworthy reversal by the Biden administration of one of Donald Trump’s last jabs at Beijing before exiting office. Without further contest, the two parties would agree to resolve their ongoing litigation […]
U.S Consumer Confidence hits 14 Month High; house prices soar
As additional fiscal stimulus allowed for more services businesses to reopen, boosting demand and hiring by companies, the U.S. consumer confidence jumped to a 14-month high in this April. The upbeat survey from the Conference Board, showed a strong increase in vacation plans. This has suggested the economy continued to power ahead early in the […]
UK Economy to grow faster than US this year
Goldman Sachs said that Britain is set on a faster growth rate than the United States, this year. The clients can expect the British gross domestic product to grow by a “striking” 7.8% this year, said the bank. This can be above the expectations from US. On April 13, a Reuters poll of analysts showed that […]