Republican lawmakers slam U.S. subsidy to China-linked battery company

Republican lawmakers slam U.S. subsidy to China-linked battery company

WASHINGTON, Dec 7 (Reuters) – Two senior Republican lawmakers on Wednesday sharply criticized the U.S. Energy Department’s decision to award Microvast Holdings (MVST.O) $200 million over ties to the lithium battery company with the Chinese government. In October, Texas-based Microvast won a US$20 million grant from the department to help build a new electric vehicle … Read more

US Senate confirms Chauvin prosecutor, three others to federal bench

US Senate confirms Chauvin prosecutor, three others to federal bench

(Reuters) – The U.S. Senate on Wednesday confirmed to the bench a prominent Minnesota lawyer who last year helped successfully prosecute former Minneapolis police officer Derek Chauvin for the murder of George Floyd. Jerry Blackwell was one of President Joe Biden’s four nominees for federal district courts to be confirmed on Wednesday, with senators voting … Read more

GBP/USD targets a setting above 1.2200 ahead of the US inflation expectation indicator

GBP/USD targets a setting above 1.2200 ahead of the US inflation expectation indicator

GBP/USD is looking to move activity above 1.2200 amid improving investor risk appetite. The US Dollar will see an extended decline after a policy change from the FOMC starting in Q1CY2023. Concerns about recession due to the Fed’s higher interest rate forecasts sidelined the S&P500. GBP/USD is aiming to move its bid profile above the … Read more

Dollar falls against major currencies amid economic concerns; the yuan strengthens

Dollar falls against major currencies amid economic concerns;  the yuan strengthens

NEW YORK, Dec 7 (Reuters) – The U.S. dollar weakened against major currencies on Wednesday on fears that rising interest rates could push the U.S. economy into recession, while an easing of Chinese restrictions linked to COVID boosted the yuan. Peruvian soil fell when the country’s Congress voted to oust President Pedro Castillo in an … Read more

Biden calls for keeping COVID restrictions in place for migrants at US-Mexico border

Biden calls for keeping COVID restrictions in place for migrants at US-Mexico border

WASHINGTON, Dec 7 (Reuters) – U.S. President Joe Biden’s administration said on Wednesday it would ask a federal court to keep pandemic-era restrictions in place for migrants at the U.S.-Mexico border, a reversal striking after seeking to end restrictions this spring. The administration, in a court filing, said it wants a higher court to overturn … Read more

The U.S. wireless industry, fueled by licensed spectrum, contributes $825 billion to the U.S. economy each year, says new report

The U.S. wireless industry, fueled by licensed spectrum, contributes 5 billion to the U.S. economy each year, says new report

WASHINGTON, Dec. 7, 2022 /PRNewswire/ — According to a new report from Compass Lexecon, commissioned by CTIA. The analysis also reveals that over the past decade, the wireless industry has contributed nearly $5.4 trillion to the GDP of the US economy. Related Documents “This report confirms that the wireless industry is a major driver of … Read more

US economy resilient, says White House NEC director Brian Deese

US economy resilient, says White House NEC director Brian Deese

The U.S. economy is showing “continued resilience” despite a predictable slowdown, a top White House economic adviser said on Wednesday. National Economic Council director Brian Deese said low credit card delinquency rates and mortgage problems indicate resilience in household balance sheets, while the labor market and savings rate also indicate more stable growth. He also … Read more

US blacklists companies for helping Russian military

US blacklists companies for helping Russian military

WASHINGTON, Dec 7 (Reuters) – The Biden administration on Wednesday added 24 companies and other entities to an export control list for supporting Russia’s military or defense industrial base, Pakistan’s nuclear activities or for providing Iranian electronics company. The entities, based in Latvia, Pakistan, Russia, Singapore and Switzerland, were added for national security and U.S. … Read more