Month: June 2022
Obama boasted about opposing federal gas tax holiday before 2008 election — Biden now wants one
U.S. President Joe Biden stands with former President Barack Obama during an event on the Affordable Care Act, the former president’s top legislative accomplishment, in the East Room at the White House in Washington, U.S., April 5, 2022. Leah Millis | Reuters Former President Barack Obama called opposing a federal gas tax holiday “one of […]
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Morgan Stanley’s Jonas cuts Tesla price target, warns cars deliveries may fall short
Morgan Stanley’s widely followed Adam Jonas slashed his price target on Tesla as he lowered an estimate for second quarter deliveries. “We mark to market our 2Q forecasts for lower volume (latest data, China) with most of the shortfall made up for in 2H volume and higher pricing,” Jonas said in a Wednesday afternoon note. […]
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Jan. 6 Capitol riot probe aims to hold final hearings on pro-Trump mob in July as new evidence comes in
A man breaks a window as a mob of supporters of U.S. President Donald Trump storm the U.S. Capitol Building in Washington, January 6, 2021. Leah Millis | Reuters The House select committee investigating the Jan. 6 Capitol riot will schedule its final two public hearings in July, rather than in June as originally expected, […]
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Forest Service says it failed to account for climate change when it accidentally caused historic New Mexico fire
Fire official Ralph Lucas points to a forest burned by the Hermits Peak Calf Canyon near Holman, New Mexico, U.S., May 24, 2022. Picture taken May 24, 2022. Andrew Hay | Reuters The U.S. Forest Service failed to account for the effects of climate change when it conducted a controlled burn in April that prompted […]
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Biden calls on Congress to suspend the gas tax — Here’s what that means for prices at the pump
President Joe Biden called on Congress Wednesday to temporarily suspend the federal gas tax, as he tries to quell the rapid surge in prices at the pump. While experts say a suspension could provide some immediate relief, it could also keep demand elevated, thereby exacerbating tight supply. Consumers are getting hit with higher prices everywhere, […]
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Tim Cook gives clearest hint yet that Apple’s building a headset
Apple CEO Tim Cook poses for a portrait next to a line of new MacBook Airs as he enters the Steve Jobs Theater during the Apple Worldwide Developers Conference (WWDC) at the Apple Park campus in Cupertino, California on June 6, 2022 . Chris Tuite | AFP | Getty Images Apple CEO Tim Cook recently […]
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Franchise Group considers lowering Kohl’s bid closer to $50 a share from about $60, source says
People walk near a Kohl’s department store entranceway on June 07, 2022 in Doral, Florida. Kohl’s announced that it has entered into exclusive negotiations with Franchise Group, which is proposing to buy the retailer for $60 per share. Joe Raedle | Getty Images The retail holding company Franchise Group is weighing lowering its bid for […]
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Watch: President Biden calls for federal gas tax holiday
[The stream has ended.] President Joe Biden on Wednesday called on Congress to create a three-month federal holiday for gas and diesel fuel taxes. Biden also asked individual states to suspend their own levies on gas and diesel. The move comes a week after the average price of a gallon of gasoline in the United […]
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Consumer watchdog eyes crackdown on credit card late fees as inflation threatens to increase them
Rohit Chopra, director of the Consumer Financial Protection Bureau, testifies during a Senate Banking, Housing and Urban Affairs Committee hearing on April 26, 2022. Tom Williams | Cq-roll Call, Inc. | Getty Images The Consumer Financial Protection Bureau signaled a crackdown on late fees charged by credit card companies on Wednesday, as inflation threatens to […]
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These stocks are insulated from a recession, Morgan Stanley says
Some companies should still be able to grow earnings even if the U.S. economy falls into a recession, according to Morgan Stanley. Mike Wilson, the firm’s chief equity strategist, said in a note to clients Tuesday that the market has not priced in a recession and that analyst estimates for corporate earnings will need to […]
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