The current stand-off over the US debt ceiling, a limit on federal borrowing, is an example of an outdated and counterproductive policy that no longer serves its intended purpose. With federal debt standing at over $31 trillion, it is clear that the debt limit is not regulating deficits. Both political parties have abused the debt…
During the first quarter, banks have made it harder for businesses and households to obtain loans, as reported by the Federal Reserve’s quarterly survey of senior loan officers. This trend is expected to continue throughout 2023, as lending standards are expected to tighten further. This survey is closely monitored, as it indicates the potential risks…
The Biden administration’s Federal Housing Finance Agency has introduced controversial new mortgage rules that could result in borrowers with good credit scores paying higher fees than those with lower scores. Peter Schiff, CEO and Chief Global Strategist at Euro Pacific Capital, has criticized the new rule, arguing that it encourages risky borrowing and may ultimately…
The ongoing legal battle between Subway and Nilima Amin over the ingredients in Subway’s tuna products has taken a new turn. Amin, who filed a class action lawsuit against the fast-food giant in January 2021, is now seeking to withdraw her case due to her pregnancy and health concerns. However, Subway is not letting her…
Recreational vaping will be banned in Australia, as part of a major crackdown amid what experts say is an “epidemic”. Minimum quality standards will also be introduced, and the sale of vapes restricted to pharmacies. Nicotine vapes already require a prescription in Australia, but the industry is poorly regulated and a black market is thriving….
An emergency radio service for Sudan is to be launched on BBC News Arabic on Tuesday, by the World Service. The pop-up radio service will be broadcast twice daily for three months, providing news and information for people in the war-torn African nation. It will include eyewitness accounts and news on diplomatic efforts, the BBC…
Tributes have been paid to the singer-songwriter Gordon Lightfoot who has died at the age of 84. The Canadian musician became famous in the 60s and 70s with hits like Early Morning Rain and If You Could Read My Mind. His songs were covered by artists including Elvis Presley, Barbra Streisand and Johnny Cash. Canadian…
What is the biggest thing that mankind has ever built? All the obvious answers to this pub-quiz question are wrong. It is not the Great Wall of China, nor the Three Gorges Dam, nor the Large Hadron Collider. It is also not Terminal 3 at Beijing Capital International Airport. In fact, the feat belongs to…
North Asia’s export powerhouses continued to stutter in April amid sluggish global trade and a patchy economic recovery in China, according to new data that amplified concerns about the risk of a global recession. Factories in South Korea and Taiwan saw activity contract last month, according to surveys published Tuesday by S&P Global. Manufacturing purchasing…
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