‘Echoes of the Cold War’ as Blinken heads to Africa, vying with Russia for influence

PRETORIA, South Africa, August 8, 2022: South Africa’s Foreign Minister Naledi Pandor (R) and Secretary of State Antony Blinken (L) attend a strategic dialogue opening session meeting at the South African Department of International Relations and Cooperation. ANDREW HARNIK/POOL/AFP via Getty Images US Secretary of State Antony Blinken arrived in South Africa on Monday to … Read more

5 things to know before the stock market opens Monday, August 8

A trader works on the floor at the New York Stock Exchange (NYSE), New York, August 3, 2022. Andrew Kelly | Reuters Here are the most important news items that investors need to start their trading day: 1. Stocks look for momentum US equities markets were on track to open higher Monday morning after three … Read more

Microsoft Xbox, Sony PlayStation, Nintendo: Video game earnings round-up

A gamer plays on Sony’s Playstation 5 console at his home in Seoul. Yelim Lee | AFP via Getty Images The giants of the video game world saw their sales slide in the second quarter, as initial tailwinds from the Covid pandemic faded. In the three months ended June, Microsoft, Sony and Nintendo each posted … Read more

Senate passes Democrats’ sweeping climate, health and tax bill, delivering win for Biden

Washington — The Senate on Sunday passed Democrats’ sweeping economic package designed to combat climate change, address health care costs and raise taxes on large corporations, marking a crucial achievement for President Biden and his party as they look to maintain their hold on Congress in the November midterm elections. The plan, called the Inflation … Read more

Senate Democrats near passage of Inflation Reduction Act in marathon session

Washington — Democrats drove their election-year economic package towards Senate approval on Sunday, debating a measure with less ambition than President Biden’s original domestic vision but that touches deep-rooted party dreams of slowing global warming, moderating pharmaceutical costs and taxing immense corporations. Debate began Saturday and by sunrise on Sunday, Democrats had swatted down a … Read more

Parliamentarian weakens Democrats’ drug plan in Inflation Reduction Act, as Senate prepares to vote

The Senate parliamentarian on Saturday dealt a blow to Democrats’ plan for curbing drug prices but left the rest of their sprawling economic bill largely intact as party leaders prepared for the first votes on a package containing many of President Joe Biden’s top domestic goals. Elizabeth MacDonough, the chamber’s nonpartisan rules arbiter, said lawmakers … Read more

Job growth was likely strong in July, but it could slow soon

An employee checks out a customer at Paulina Meat Market in the Lakeview neighborhood in Chicago, Illinois, June 28, 2022. Bianca Flowers | Reuters Employers likely added fewer jobs in July, but the monthly employment report is still expected to show a robust pace of hiring that should edge lower in coming months. Economists expect … Read more

Why China is not sanctioning Taiwan’s key chip industry Business and Economy

China has turned to the familiar playbook of trade restrictions following US House of Representatives Speaker Nancy Pelosi’s visit to Taiwan. After Pelosi proceeded with her trip to the democratically-ruled island in spite of Beijing’s warnings, Chinese authorities suspended imports of Taiwanese citrus fruits and fish, and exports of sand. State media also announced that … Read more

Why is the Myanmar crisis such a challenge for ASEAN? | ASEAN News

Foreign ministers from the Association of Southeast Asian Nations (ASEAN) are meeting in Phnom Penh, a week after Myanmar’s coup leaders executed four opponents in an act that shocked the world. ASEAN criticized the killings, but the National Unity Government (NUG) of elected politicians who were overthrown by the military and coup opponents, as well … Read more

5 things to know before the stock market opens Wednesday

Here are the most important news items that investors need to start their trading day: 1. Stocks look to shake off back-to-back losses Traders work on the floor of the New York Stock Exchange (NYSE) on July 25, 2022 in New York City. Stocks rose slightly in morning trading as investors weigh the upcoming Federal … Read more