US

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...
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Antony Blinken: Moscow Must Stop Aggressive Actions Against Ukraine
6May By Alan LorenzNo Comments
US, News, Russia, Ukraine

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...
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UN Human Rights Chief Welcomes Verdict in George Floyd Trial
21Apr By Alan LorenzNo Comments
US, News

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...
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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...
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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...
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US Service Sector Leaps Forward
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...
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New York Parliament Gives Green Light for Legalization of Cannabis
31Mar By Alan LorenzNo Comments
US, News

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,...
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End in Sight for Tax Havens: US Now Before Minimum Tax for Multinationals
29Mar By Alan LorenzNo Comments
US, News

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...
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8 Dead in Shootings at Asian Massage Parlors in Atlanta
17Mar By Alan LorenzNo Comments
US, News

8 Dead in Shootings at Asian Massage Parlors in Atlanta

At least 8 people were killed in the United States in three shootings in Asian wellness centres and massage parlours in and around Atlanta.   Most of the victims are said to be women of Asian descent. Police have arrested a 21-year-old suspect who holds them responsible for all three shootings. It is not yet clear what his motive would be. At around 5:00 pm local time, the first shooting occurred in Acworth, about 30 miles north of Atlanta. In an Asian massage salon, 5 people were shot. Two of them died on the spot, and two others died later in a hospital. An hour later, Atlanta police received a call for a robbery at a Buckhead ward wellness centre. Officers found the bodies of three women there. Shortly afterwards, in a wellness centre on the other side of the street, they disco...
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The Stock Exchanges in New York Opened With Pluses on Wednesday
10Mar By Alan LorenzNo Comments
Business, News, US

The Stock Exchanges in New York Opened With Pluses on Wednesday

The stock exchanges in New York opened with pluses on Wednesday. The lower than expected inflation figure for February, in particular, provided some relief.   Investors seem a bit more reassured when it turned out that there was no inflation spike as the economy continues to gain momentum. Investors' gaze is further focused on the House of Representatives, which will later vote on the $ 1.9 trillion crisis support package. US inflation rose 1.7 percent year-on-year last month. This means that currency depreciation is at its highest level in a year, driven by higher energy prices. Shortly after opening, the Nasdaq rose more than 1 percent to 13,210 points after gaining 4 percent a day earlier. The Dow Jones index gained 0.9 percent to 32,092 points, and the broad S&P 500 rose 0....
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