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Cinema Chain AMC Continues to Occupy Minds on Wall Street

3Jun

By Alan LorenzNo Comments

Business, News, US

Cinema Chain AMC Continues to Occupy Minds on Wall Street

Cinema chain AMC Entertainment was also in the spotlight with investors on Wall Street on Thursday. The company, which saw its stock market value double a day earlier, filed an application with the US stock watchdog SEC to sell almost 12 million shares in the future. The stock plunged more than 16 percent, where it seemed before the market that it would continue its rise. The leading Dow-Jones index lost 0.5 percent to 34,413 points in early trading. The broad S&P fell 0.6 percent to 4,182 points. The Nasdaq also stepped back. The tech gauge fell 0.9 percent to 13,554 points.

Biden Wants US Federal Budget of $ 6 Trillion

27May

By Alan LorenzNo Comments

Business, News, US

Biden Wants US Federal Budget of $ 6 Trillion

US President Joe Biden will propose a $ 6 trillion budget. The New York Times reports this based on documents that the newspaper has seen. It is said to be the highest federal expenditure since World War II. Biden will announce his budget plans for the fiscal year 2022 starting in October on Friday. Earlier, he had already developed great ambitions for investment in infrastructure, worth $ 2 trillion, and a stronger social safety net, involving $ 1.8 trillion. In addition to roads and bridges, it also concerns expenditure on childcare and education, for example. According to The New York Times, total federal spending will reach $ 8.2 trillion by 2031. The White House wants to pay for the expenditure through higher taxes on the wealthiest Americans and large companies, among oth...

The Tech Companies Went Down Again on Wall Street

11May

By Alan LorenzNo Comments

Business, News, US

The Tech Companies Went Down Again on Wall Street

The tech companies went down again on a red-coloured Wall Street on Tuesday amid investor concerns about rising inflation and higher interest rates. The energy sector on the stock exchanges in New York was also under pressure from falling oil prices. If inflation soars, it could mean that the Federal Reserve will increase interest rates faster, which would be particularly unfavourable for tech stocks. Big names like Amazon, Apple, Google, mother Alphabet and Facebook lost up to 2.3 percent. Tesla went down 4.5 percent. Oil and gas producers ExxonMobil and Chevron fell to 1.9 percent. ConocoPhillips lost 2.6 percent. The shareholders of the American oil company vote on a climate resolution. In addition, steel group US Steel fell 2 percent due to fears of higher raw material price...

Antony Blinken: Moscow Must Stop Aggressive Actions Against Ukraine

6May

By Alan LorenzNo Comments

News, Russia, Ukraine, US

Antony Blinken: Moscow Must Stop Aggressive Actions Against Ukraine

US Foreign Minister Antony Blinken calls on Russia to stop its "reckless and aggressive actions" against Ukraine. He did this during a meeting with Ukrainian President Volodimir Zelenski in Kyiv. Blinken's visit comes just after Russia gathered more than 100,000 soldiers at the border with Ukraine last month. That was the largest mobilization of Russian forces since Moscow annexed Ukrainian Crimea in 2014 and war broke out in Eastern Ukraine. Kyiv said the military was threatened with "the destruction of the Ukrainian state," while Moscow said the military exercises at the border were not a cause for concern. Now that those exercises are over, the soldiers are leaving. Zelenski does not think that is going fast enough. "There may still be a threat," he said. "Nobody wants these s...

UN Human Rights Chief Welcomes Verdict in George Floyd Trial

21Apr

By Alan LorenzNo Comments

News, US

UN Human Rights Chief Welcomes Verdict in George Floyd Trial

UN human rights chief Michelle Bachelet welcomes the conviction of a white ex-cop in the trial surrounding the death of black detainee George Floyd. Had the jury come to a different decision, she said it would have been an example of ludicrous injustice. The civilian jury decided on Tuesday that Derek Chauvin is responsible for the death of Floyd. The latter last year so violently arrested Chauvin in the American city of Minneapolis that Floyd died. "As the jury acknowledged, the evidence, in this case, was crystal clear," said Bachelet. She insists that Floyd is not the only victim. For the many other victims of African descent and their families in the US and around the world, the fight for justice continues. Winning is far from over. " "The deep-seated legacy of discriminato...

Biden Receives South Korean President in the US in May

16Apr

By Alan LorenzNo Comments

News, South Korea, US

Biden Receives South Korean President in the US in May

US President Joe Biden will receive his South Korean colleague Moon Jae-in in Washington in the second half of May. According to a White House spokesman, an exact date has not yet been set. The visit serves, among other things, to underline the relationship between the two countries. US Secretary of State Antony Blinken of Foreign Affairs and his colleague Lloyd Austin of Defense visited the South Korean capital Seoul last month. Austin then emphasized that the US alliance with South Korea "had never been more important because of the unprecedented challenges posed by North Korea and China." As the first foreign head of government since taking office on Jan. 20, Biden will receive Japanese Prime Minister Yoshihide Suga at the White House on Friday. The visit underscores "friends...

New York Stock Markets Mostly Higher After Fed Minutes

8Apr

By Alan LorenzNo Comments

Business, News, US

New York Stock Markets Mostly Higher After Fed Minutes

The stock exchanges in New York mainly opened higher on Thursday after reassuring words from central banks. Minutes from the Federal Reserve and the European Central Bank (ECB) show that they see little as yet in a premature winding down of their stimulus measures for the economy. According to the Fed, it may still take some time before the conditions are met, such as reducing the extensive buy-back program. Policymakers at the ECB also emphasized in their interest rate decision in March that the buy-back program to combat the corona pandemic will continue as long as necessary. Before the opening bell, investors were still faced with disappointing figures about the US labour market. Last week, the number of claims for unemployment benefits rose to 744,000, while economists on av...

5Apr

By Alan LorenzNo Comments

Business, News, US

US Service Sector Leaps Forward

Activity in the US service sector has never been higher, according to market researcher ISM. ISM's index came in at 63.7, with anything above 50 indicating growth. Since the measurements began in 1997, the market researcher's indicator has never before indicated such optimism. With more and more Americans vaccinated, parts of the long-suffering economy such as shops and hospitality can open up in more parts of the country. In addition to lifting corona measures, the services sector is also benefiting from government stimulus measures. Many Americans received emergency aid from the government that took them back to the stores to buy things. Corona support measures also make it easier for companies to look to the future. ISM's figures on the services sector follow strong statisti...

New York Parliament Gives Green Light for Legalization of Cannabis

31Mar

By Alan LorenzNo Comments

News, US

New York Parliament Gives Green Light for Legalization of Cannabis

The New York State Parliament has agreed to legalize possession of cannabis for personal use. This has foremost consequences for people who have been convicted in the past of crimes related to the possession of the soft drug. They can now be removed from their criminal records. The proposal received widespread support in both houses of the state parliament. Governor Andrew Cuomo has yet to sign the bill but has already made it clear that he will. New York thus follows the lead of the fourteen other states and several US territories that had already legalized cannabis. Proponents speak of a historic decision. Democratic MP Crystal Peoples-Stokes likened the legalization of cannabis to lifting the alcohol ban in 1933, reports The New York Post. Governor Cuomo said that minorities,...

End in Sight for Tax Havens: US Now Before Minimum Tax for Multinationals

29Mar

By Alan LorenzNo Comments

News, US

End in Sight for Tax Havens: US Now Before Minimum Tax for Multinationals

A global minimum tax for multinationals is getting closer: new US Treasury Secretary Janet Yellen favours it because the Biden government needs money. The previous US administration opposed elements of a plan to introduce an international corporate tax floor. The OECD, the club of rich industrial nations, is trying to agree on this with some 140 countries. The US has changed its mind under Joe Biden. His finance minister, Janet Yellen, is now openly advocating a global minimum rate. She sees it as a means to stop the "devastating downward spiral" in tax rates. A deal would amount to a kind of Paris Climate Agreement, but for taxes, described the American economist and Nobel Prize winner Joseph Stiglitz. He is firmly in favour of a minimum tax for international companies. "Endin...