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U.S. Government Shutdown Triggers Flight Cancellations and Travel Disruptions
2 months ago•Source: Yahoo Finance
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3.235 min•1 year ago
"Spain Joins Portugal in Scrapping 'Golden Visas' for Wealthy Foreign Investors"
Spain plans to eliminate its "golden visa" program, which grants residency to wealthy non-EU citizens who invest in real estate, citing concerns about affordable housing. The move follows similar actions by Portugal, Ireland, and Australia in recent years. Critics argue that the program has had minimal impact on the housing market and is part of a broader trend of tightening such policies globally. The decision reflects a shift away from prioritizing wealth in immigration policies, with some experts emphasizing the importance of entrepreneurial spirit over financial means.
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"Biden Unveils Populist 2025 Budget Proposal Amid Partisan Divide"
The New York Times•1 year ago
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"Biden's Bold Housing Initiatives: Tax Credits, Relief, and Reform"
CBS News•1 year ago
More Politics And Economy Stories
"Biden's Plan: $10,000 Tax Credit for Homebuyers"
Originally Published 1 year ago — by Fox Business
During his State of the Union address, President Joe Biden proposed a $10,000 tax credit for first-time homebuyers, distributed as $400 monthly payments over two years, aiming to alleviate rising housing costs and help working families achieve homeownership. Additionally, he called for changes to lower closing costs, including the elimination of title insurance, which has sparked debate within the industry.
"UK Government's Pre-Election Budget 2024: Tax Cuts and Economic Strategy"
Originally Published 1 year ago — by CNBC
UK Finance Minister Jeremy Hunt delivers the Spring Budget amid a challenging General Election, with expectations of tax cuts to woo voters despite a stagnant economy and fragile public finances. Speculation about a "British ISA" and concerns about the impact of tax cuts in the context of past and future tax increases. The government faces limited fiscal headroom, and the ruling Conservative Party trails significantly behind the Labour Party in national polls. Hunt is expected to announce a 2 pence cut to National Insurance, but economists doubt the effectiveness of modest tax cuts in closing the poll gap.
China Cancels Premier's Annual News Conference in Surprise Decision
Originally Published 1 year ago — by NBC News
China surprised the world by scrapping the tradition of the premier's news conference at the National People’s Congress, raising concerns about the country's economic uncertainty and global tensions. The move comes amid worries about China's economic slowdown, real estate crisis, unemployment, and declining exports. As the legislative session opens, all eyes are on China's plans for fiscal stimulus and efforts to restore confidence in the economy, which some economists believe could take three to five years.
"Sen. Casey and Biden Take Aim at Shrinkflation in Household Products and Food Packaging"
Originally Published 1 year ago — by USA TODAY
Senator Bob Casey, D-Pa., has introduced the Shrinkflation Prevention Act of 2024 to combat the practice of shrinkflation, where companies reduce the size of consumer goods while maintaining the same price. The bill gives the Federal Trade Commission and state attorneys general the authority to crack down on such practices and requires companies to provide warnings on packages when they reduce the size or weight of a product but charge the same price. Critics argue that the bill goes too far by telling companies how to package their products, while supporters emphasize the need to hold corporations accountable for deceptive practices.
Jillian Michaels Blasts Bill Maher Over Inflation: "Go Buy Some F-----g Eggs!"
Originally Published 1 year ago — by Fox News
Fitness guru Jillian Michaels criticized Bill Maher for downplaying inflation, citing the soaring prices of essentials like eggs, houses, and cars. Maher argued that while Americans feel the pinch, the economic numbers have improved since the peak of inflation in 2022, attributing the problem to the COVID stimulus plan. Despite concerns about the economy, Maher likened America to a "stupid but strong" teenage boy driving over the speed limit, suggesting that the country is currently "having a good time" despite potential risks.
"Turkish Central Bank Governor's Turbulent Tenure: A Story of Resignation and Controversy"
Originally Published 1 year ago — by Middle East Eye
Hafize Gaye Erkan, Turkey's first woman central bank governor, was appointed with high expectations but was dismissed less than nine months later amidst allegations of internal strife, long absences, and accusations of misconduct. Despite her strong educational and professional background, including a role at an American bank, her tenure was marred by controversies, including her father's alleged interference at the bank and her own comments in the media. Her dismissal, orchestrated by Finance Minister Mehmet Simsek, aimed to restore the central bank's credibility and signal his authority over the economy, despite initial hopes for Erkan's appointment to improve Turkey's financial credibility and investor trust.
"India's Economic Outlook and Political Reactions: A Recap of Budget 2024"
Originally Published 1 year ago — by Hindustan Times
India's Finance Minister, Nirmala Sitharaman, outlined the government's priorities for the future, emphasizing the goal of making India the world's third largest economy in Prime Minister Narendra Modi's third term. She discussed the challenges and transformations in the economy, including the impact of the pandemic, rural-urban shifts, and the need for better data to inform policymaking. Sitharaman also addressed issues such as unemployment, structural reforms, corporate tax reductions, and plans to deepen the debt market, highlighting the government's efforts to reboot the economy and foster sustained growth.
"Assessing the Impact of India's Pre-Election Budget 2024 on Economy and Politics"
Originally Published 1 year ago — by BBC.com
India's interim budget for 2024 focuses on continued infrastructure funding, with over $130 billion allocated for physical assets like roads and ports, but shuns big spending on social schemes and tax relief measures for the middle class. The government aims to build 20 million affordable houses in the next five years and keep GDP growth at about 7%, while curbing the fiscal deficit. Critics, including former central bank governor Raghuram Rajan, express concerns over inadequate spending on health and education, unemployment, and uneven consumption growth.
Warren Urges Fed Chair to Cut Rates and Ease Housing Pressure
Originally Published 1 year ago — by CNBC
Senator Elizabeth Warren and three other Democratic lawmakers are urging Federal Reserve Chairman Jerome Powell to consider lowering interest rates at the upcoming Fed meeting to alleviate the pressure on the housing market, citing the significant increase in home purchasing costs for consumers. The Fed has indicated the possibility of three rate cuts in 2024 as inflation cools, which has already boosted consumer attitudes on the economy. Expensive housing costs have been a concern for President Joe Biden's reelection campaign, and the recent surge in mortgage demand signals a potential return of homebuyers to the market.
"Nunavut Granted Control Over Mineral-Rich Arctic Region in Historic Land Transfer Deal with Canada"
Originally Published 2 years ago — by Reuters
Canada has granted the Arctic territory of Nunavut control over its mineral reserves, including gold, diamonds, iron, cobalt, and rare earth metals, through a devolution agreement signed by Prime Minister Justin Trudeau and Nunavut Premier P.J. Akeeagok. This move aims to boost exploration and development in the region, which is strategically important due to climate change making resources more accessible. However, challenges such as harsh weather, lack of infrastructure, high operating costs, and environmental concerns remain.