International trade

ECB and Bank of England raise interest rates again to fight inflation

London CNN — Europe’s two largest central banks have hiked interest rates sharply on Thursday, opting for bigger increases than the US Federal Reserve as inflation in the region remains near historically high levels. The European Central Bank (ECB) and the Bank of England raised their rates an additional half point. Benchmark interest rates for …

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Biden proposes ‘junk fee’ bill to cut hidden fees for credit cards and concert tickets

CNN — President Joe Biden on Wednesday announced further progress on his administration’s “competition agenda,” specifically targeting unwanted fees while calling on Congress to pass legislation targeting hidden fees in multiple sectors. These costs can “drain hundreds of dollars a year from the pockets of hard-working American families, especially people who are already struggling to …

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Job postings unexpectedly jump to 11 million in December

Minneapolis CNN — Despite the looming threat of recession and the cacophony of mass layoff announcements, American businesses still need workers – 11.01 million of them. The number of job vacancies rose unexpectedly in December, rising from a revised 10.44 million openings in November and beating economists’ expectations of 10.25 million, according to Bureau of …

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GM shares rise after record profits and new stake in lithium company

New York CNN — General Motors reported much stronger-than-expected fourth-quarter earnings, lifting annual results to record highs for the second year in a row. The largest U.S. automaker also announced on Tuesday that it is buying a $650 million stake in Lithium Americas, which will give it access to the raw material needed to build …

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Mustang Mach-E: Ford lowers the price of its competitor Tesla

CNN — Ford is increasing production of its popular Mustang Mach-E electric SUV and lowering its target price weeks after Tesla cut prices for its vehicles. The move represents a substantial step back from price increases Ford announced last summer on 2023 models – but buyers may still be paying a bit more than before …

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Prosecutors say Sam Bankman-Fried’s contact with former FTX general counsel is ‘suggestive’ of witness tampering

CNN — Federal prosecutors say FTX founder Sam Bankman-Fried contacted the crypto trading platform’s former general counsel earlier this month in a move they say may constitute tampering of witnesses. A Bankman-Fried spokesperson declined to comment. Prosecutors from the U.S. Attorney’s Office for the Southern District of New York asked the judge to change Bankman-Fried’s …

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Some car insurers refuse to cover certain Hyundai and Kia models

CNN — Progressive and State Farm, two of the largest U.S. auto insurers, are refusing to underwrite policies in certain cities for certain older Hyundai and Kia models that have been deemed too easy to steal, the companies say. Several reports indicate that companies have stopped offering insurance on these vehicles in cities like Denver, …

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Elon Musk meets Speaker of the House Kevin McCarthy and Hakeem Jeffries

CNN — Elon Musk, CEO of Twitter and Tesla, with House Speaker Kevin McCarthy and Democratic Leader Hakeem Jeffries at the US Capitol in Washington on Thursday evening. McCarthy, leaving the meeting with Musk in his office, declined to comment other than to say, “He came for my birthday.” The California Republican turned 58 on …

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BuzzFeed says it will use AI to help create content, stock jumps 150%

New York CNN — BuzzFeed said Thursday it will work with ChatGPT creator OpenAI to use artificial intelligence to help create content for its audience, marking a milestone in how media companies implement the new technology. in their activities. Jonah Peretti, the company’s co-founder and chief executive, told employees in a memo that they can …

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