Elizabeth Warren’s proposed billionaire’s wealth tax would rake in ‘$78bn from just 100 people’ March 1, 2021 US Wealth tax bill aims to reverse economic downturn caused by Covid-19
Warren Buffett’s Berkshire Hathaway sees profit rise on stock market charge February 27, 2021 Warren Buffett’s Berkshire Hathaway said that a surge in prices of stocks like Apple had taken the investment firm to a profit of $36bn. The Nebraska-headquartered firm said that quarterly income rose 14 per cent to $5bn, while net income jumped 23 per cent to $35.8bn. The firm has been the beneficiary of a stock [...]
Biden’s $1.9 trillion Covid stimulus package passed by Congress February 27, 2021 President Joe Biden scored his first legislative win as the House of Representatives passed his $1.9 trillion coronavirus relief package early on Saturday morning, though Democrats faced challenges to their hopes of using the bill to raise the minimum wage. Democrats who control the chamber passed the sweeping measure by a mostly party-line vote of [...]
US governors urge Biden to pressure semiconductor firms on global shortage of automotive chips February 26, 2021 A bipartisan group of eight governors from U.S. automotive states urged President Joe Biden today to do more to press semiconductor firms to address a global shortage of automotive chips that has cut some vehicle production. Governors of Michigan, Indiana, Ohio, Kentucky, Kansas, South Carolina, Alabama and Missouri co-wrote a letter to Biden asking him [...]
US to maintain Trump decree aimed at limiting China tech deals February 26, 2021 The Biden administration plans to maintain new rules that were introduced by former President Trump take effect despite US business objections, according to the Wall Street Journal this evening. The rules focus on technology mergers and acquisitions. The rule, initially proposed in November, will allow the US Commerce Department to ban technology-related business deals that it [...]
PM says remote working won’t be the new normal February 26, 2021 PM Boris Johnson said Britain is not facing a new age of remote working. In a video message today Johnson said British people would be “consumed again” by wanting to meet people in person once the economy reopens, and that this would have clear benefits for business. He added people will be commuting to city [...]
US distances itself from Saudi Arabia as White House mulls arms restrictions, Khashoggi sanctions February 26, 2021 The Biden administration is recalibrating its relationship with Saudi Arabia, one of the United States’ closest allies in the Middle East. A State Department official reportedly told congress earlier today that it will be announcing new sanctions on Saudi Arabia in response to the killing of Saudi journalist Jamal Khashoggi. The Biden administration also declassified [...]
Alexei Navalny: Destination unknown as Putin makes opponent disappear February 25, 2021 Russian opposition politician Alexei Navalny has been moved to an undisclosed detention centre outside Moscow, his lawyer and a member of a rights organisation said this evening. One of his lawyers, Vadim Kobzev, said on Twitter that Navalny was transferred to a prison camp but it was not clear which one or where. Navalny, a [...]
United States may boycott 2022 Winter Olympics in Beijing February 25, 2021 The White House has not made a final decision on whether the US will participate in the Winter Olympics in Beijing, a decision that could see the United States boycott the games in 2022. “There hasn’t been a final decision made on that and of course we would look for guidance from the U.S. Olympic [...]
Cathie Wood: Low rates and quantitative easing drive interest in Bitcoin February 25, 2021 Cathie Wood, the well-known U.S. investor and founder of Ark Investment Management, said today that Bitcoin is in its “early days” given its diverse use cases. However, Wood emphasised Bitcoin’s potential as a hedge in a global economy of low rates and quantitative easing. “The dollar is down which is normally a positive cue for [...]