Economy

Lawmakers Celebrate Congress Passing CHIPS Act

Yellen Says Economy is in a ‘New Phase’ Treasury Secretary Janet Yellen said the US economy has entered a “new phase” amid concerns that we have entered a recession. During a press conference Thursday, Yellen echoed Biden’s statements that the US has entered a new phase in its economic recovery focused on achieving “steady sustainable …

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Brazil’s Petrobras opens dividend gusher in pre-election win for Bolsonaro

A general view of tanks of Brazil’s state-run Petrobras oil company following the announcement of updated fuel prices at Petrobras in Brasilia, Brazil June 17, 2022. REUTERS/Ueslei Marcelino Register now for FREE unlimited access to Reuters.com Register RIO DE JANEIRO, July 28 (Reuters) – Petrobras (PETR4.SA) has approved a record dividend payout of 87.8 billion …

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World Economic Forum calls to reduce private vehicles by eliminating ‘ownership’

Check out what’s clicking on FoxBusiness.com. The World Economic Forum is looking to reduce global reliance on critical metals as nations look to make the transition to renewable energy supplies, and one proposal is reducing ownership of private vehicles. “This transition from fossil fuels to renewables will need large supplies of critical metals such as …

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German cities impose cold showers and turn off lights amid Russian gas crisis | Germany

Cities in Germany are switching off spotlights on public monuments, turning off fountains, and imposing cold showers on municipal swimming pools and sports halls, as the country races to reduce its energy consumption in the face of a looming Russian gas crisis. Hanover in north-west Germany on Wednesday became the first large city to announce …

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Biden says inflation legislation will reduce pressure on economy : NPR

In remarks from the White House Thursday, President Biden said the Inflation Reduction Act would reduce pressure on the economy from rising inflation. Susan Walsh/AP hide caption toggle caption Susan Walsh/AP In remarks from the White House Thursday, President Biden said the Inflation Reduction Act would reduce pressure on the economy from rising inflation. Susan …

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Biden clash with China’s Xi over economy, Taiwan during call

WASHINGTON – Tenensions over Taiwan, Russia’s war in Ukraine and over the economy dominated a call between President Joe Biden and Chinese leader Xi Jinping on Thursday. The planned call between the leaders – their first in more than four months – comes as the US seeks to regain a competitive edge over China and …

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Inflation-exhausted Americans: Let’s just go out for steak

In the three months ending on May 29, sales at Longhorn Steakhouse locations open at least a year popped 10.6%. Texas Roadhouse reported that in the first three months of the year, sales at company-owned restaurants open at least a year jumped 16%. The chain is slated to release its second-quarter earnings Thursday afternoon. Demand …

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