Boeing has officially withdrawn its pay offer to approximately 33,000 striking factory workers on the U.S. West Coast, indicating a breakdown in negotiations with the union, the International Association of Machinists and Aerospace Workers. In a statement, Stephanie Pope, head of Boeing Commercial Airplanes, expressed disappointment with the union’s lack…...

Woodside Energy, an Australian energy producer, recently announced the successful completion of its $1.2 billion acquisition of U.S. liquefied natural gas (LNG) developer Tellurian, which includes its Gulf Coast LNG export project. This move comes after Tellurian’s shareholders voted overwhelmingly in favor of the acquisition, showcasing confidence in Woodside’s strategic…...

Federal Reserve Vice Chair Philip Jefferson recently elaborated on the rationale behind the U.S. central bank’s decision to implement a half-percentage-point interest-rate cut during its September meeting. Jefferson emphasized that this strategic move was intended to sustain the strength of the labor market while continuing to address the ongoing inflation…...

On August 30, 2023, the Brazilian Supreme Court, under Justice Alexandre de Moraes, ordered the nationwide suspension of the social media platform X (formerly Twitter) in Brazil, a significant market with an estimated 20 to 40 million users. This action came after months of disputes between X and Brazilian authorities…...

In Charleston, West Virginia, recent legislative developments aim to ease the income tax burden on residents, with two significant bills moving to Governor Jim Justice’s desk. The first bill proposes a 2% reduction in the state personal income tax, while the second introduces a tax credit designed to alleviate child…...

Lambert Strether of Corrente recently shared an update after experiencing a fall, expressing gratitude for the support received from readers and reflecting on the broader issue of personal pain relative to others. While he experienced some minor injuries, he highlighted the general luck he’s had in life regarding health and…...

Warren Buffett’s Berkshire Hathaway recently made headlines by further reducing its stake in Bank of America (BofA), as revealed in a Monday filing. Since initiating this share sale in July, Berkshire has netted over $10 billion, reducing its ownership from a substantial 13.1% stake worth approximately $45 billion to 10.1%.…...

The recent rally in Chinese stocks faced a significant setback on Tuesday as investors anticipated further stimulus measures from Beijing, which ultimately did not materialize. The Hang Seng Index in Hong Kong plummeted around 9%, marking its worst performance since October 2008, following an impressive surge of roughly 20% over…...

On a recent call with U.S. Secretary of Commerce Gina Raimondo, China’s Minister of Commerce, Wang Wentao, expressed significant concerns regarding U.S. semiconductor policies and restrictions on Chinese connected vehicles. This communication highlights the ongoing economic tensions between the two countries, particularly in the technology and automotive sectors. Wang urged…...

In the evolving geopolitical landscape influenced by Russia’s actions in Ukraine, it is crucial to recognize the distinct peace terms laid out by President Vladimir Putin on June 14, 2023. These terms include a complete withdrawal of Ukrainian forces from several eastern and southern territories that Russia considers part of…...

On Tuesday, shares of Brazilian airline Azul soared over 20% on the Sao Paulo stock exchange following the announcement of a significant debt restructuring agreement with lessors. This development alleviates ongoing market concerns surrounding Azul’s financial stability, particularly the speculations that the airline was considering a Chapter 11 bankruptcy filing.…...