A view shows the U.S. Capitol in Washington, U.S., May 9, 2024. Kaylee Greenlee Beal | ReutersGovernment debt that has swelled nearly 50% since the early days of the Covid pandemic is generating elevated levels of worry both on Wall Street and in Washington.The federal IOU is now at $34.5 trillion,...
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Mercedes-Benz workers in Alabama vote against UAW union membership
United Auto Workers (UAW) members and supporters on a picket line outside the ZF Chassis Systems plant in Tuscaloosa, Alabama, US, on Wednesday, Sept. 20, 2023.Andi Rice | Bloomberg | Getty ImagesMercedes-Benz workers in Alabama have voted against union representation by the United Auto Workers, the National Labor Relations Board...
Buffett says Berkshire sold its entire Paramount stake: ‘We lost quite a bit of money’
OMAHA, Neb. โ Warren Buffett revealed that he dumped Berkshire Hathaway's entire Paramount stake at a loss."I was 100% responsible for the Paramount decision," Buffett said at Berkshire's annual shareholder meeting. "It was 100% my decision, and we've sold it all and we lost quite a bit of money."Berkshire owned...
China consumption slows as retail sales and investment data disappoint
Pictured here is a BYD factory producing new energy-powered trucks in Huai'an, China, on February 21, 2024.Nurphoto | Nurphoto | Getty ImagesBEIJING โ China reported data Friday that pointed to slower growth on the consumer side while industrial activity remained robust.Retail sales rose by 2.3% in April from a year...
Markets underestimate geopolitical risk as raft of elections looms, ECB’s De Guindos says
Europe's macroeconomic outlook is brighter โ but markets may be underestimating the potential for sudden destabilization due to geopolitics, the vice-president of the European Central Bank said Thursday."We are talking about the electoral cycle that is going to take place not only in the U.S., but as well in Europe....