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Business News

Location American Business News for 15 June 2022
India has massively stepped up its purchases of Russian oil, helping the country's export revenues climb sharply in 2022 despite sanctions.
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Caterpillar Relocation Extends U.S. Manufacturing's Southern Shift State lawmakers have pushed tax policies to lure makers of electric vehicles, electronics and more.
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Craft cannabis growers want judge to reverse order that has put the industry on hold in Illinois amid lawsuit Craft cannabis growers hope a judge on Wednesday will reverse his order that shut down the entire industry, arguing that they were unfairly shut out of the process.
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Bank of America: 90% of US Adults Surveyed Plan to Buy Crypto in 6 Months A new Bank of America survey shows that out of more than 1,000 U.S. adults, 90% plan to buy crypto in the next six months. Moreover, nearly 40% of respondents revealed that they use cryptocurrency as a means of payment. ...
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The RAC calls for more government action to ease inflation and pressure on motorists.
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After Terra and Celsius, Crypto Market Now Might Be Hit With Three Arrows The major crypto hedge fund Three Arrows Capital (3AC) is rumored to be insolvent, with reports suggesting the firm has already faced massive liquidations and on-chain data indicating large sales of ethereum (ETH) staked...
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Biden officials thought the impact of the Russia sanctions would be minimal in the US if they didn't affect food and energy, Bloomberg reported.
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Massachusetts Court Blocks Gig-Worker Ballot Measure

Wall Street Journal - 15 Jun 2022 03:39
Massachusetts Court Blocks Gig-Worker Ballot Measure A judge said the measure went too far in limiting gig companies' liability. The decision is a setback for companies like Uber and Lyft that rely on such workers.
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Foxconn starts building a plant for electric-vehicle batteries in Taiwan Known as a major iPhone assembler, Foxconn aims to expand into the EV industry, build a battery supply chain in Taiwan
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How Much Can the Fed Do?

The New York Times - 15 Jun 2022 16:17
How Much Can the Fed Do? The Fed will conclude its two-day policy meeting today and announce what it will do with the short-term interest rate it sets.
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Constructive Communication Between the U.S. and China Gets Harder Later this month, the United States and China may face another threat in their already fraught relations.
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Weaknesses in the Social Safety Net Disrupt the U.S. Work Force "Does worker organizing not work because there's all this monopoly power?" said Julie Su, deputy secretary of labor. "Why don't we question whether the monopoly power is the problem."
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Ukrainian Troops Are Pushing Back The Russians In The South While Kyiv has its sights set on Kherson, any effort to liberate the city ultimately could fail for a want of manpower. Manpower that the battle for Donbas is consuming at an alarming rate.
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Oil futures fall Wednesday, losing ground as traders await a decision by the Federal Reserve amid jitters over the economic outlook.
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Nearly 70,000 Issued Binance Refugee Crypto Card for Ukrainians Thousands of Ukrainians have ordered a crypto card issued by the world’s leading digital asset exchange, Binance, for its users from the war-torn country. The card allows people displaced by the ongoing conflict with R...
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NFT Market Sees Mixed Results: Floor Prices Fall in 24H, Overall Sales Increase in a Week The market for non-fungible tokens (NFTs) is seeing a very mixed picture amid the broader crypto market downturn - a small relief rally in the floor prices was recorded in the past day by a couple of major collections wi...
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Wemix launches blockchain gaming ecosystem Wemix3.0

Venture Beat - 15 Jun 2022 15:30
Blockchain gaming platform Wemix today announced the launch of Wemix3.0, a platform-driven, service-oriented ecosystem for blockchain gaming.
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Life Turns Sour For Oxford Street's Mysterious American Candy Stores Westminster Council is calling time on the "eyesores of Oxford Street", investigating 30 American candy stores among claims that many are nothing more than a real estate tax dodge.
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Disney Should Make its Cricket Streaming Loss Count

Wall Street Journal - 15 Jun 2022 15:03
Opportunity to reset company's ambitious streaming subscriber target now could prove valuable later.
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Bank of Canada's Official: Crypto Needs Regulation Before It Becomes 'a Lot Larger' Bank of Canada’s senior deputy governor says the central bank does not want to wait until crypto “gets a lot larger” before it brings regulatory controls in place. “This is an area that is still small, but it’s...
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The announcement comes as the country faces its worst economic crisis in more than 70 years.
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China's central bank left its key policy interest rates unchanged Wednesday after lowering benchmark lending rates in May to support the cooling economy.
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