Showing posts with the label Five Things You Need to Know.
Source: bloomberg.com Five Things You Need to Know to Start Your Day Alex Millson 5-6 minutes Canada dumps Huawei. Apple previews new mixed-reality headset. US dollar posts biggest drop since 2020. Here’s what you need to know today. Security Threat Canada has joined its closest intelligence allies in banning Huawei and ZTE gear from fifth-generation wireless networks, citing a threat to national security. Firms that already have the Chinese equipment installed will have to remove it by the end of 2027. The ban will almost certainly stoke tensions between the two countries. Meanwhile, China’s top diplomat has again warned the US over its support for Taiwan, saying that if the White House goes “further and further down the wrong road, it will certainly lead to a dangerous situation .” And “the Quad” — an informal group that brings together the US, Japan, India and Australia in an effort to counter China’s
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Source: bloomberg.com Lorcan Roche Kelly 7-9 minutes Manchin says no, virus curbs, and traders think the Fed won’t reach tightening target. Build back busted Senator Joe Manchin effectively killed President Joe Biden’s economic agenda yesterday, with his rejection of the roughly $2 trillion package meaning it has no hope of passing a Senate vote. In a sharply critical statement the White House called Manchin’s decision a “ sudden and inexplicable reversal .” Biden and top Democrats must now regroup to see if a scaled-back version remains possible with little more than 10 months before midterm elections that will decide control of Congress. Goldman Sachs Group Inc. cut its forecast for U.S. economic growth for next year after Manchin’s move. Omicron There is mixed news on the virus, with European countries weighing more curbs as cases surge due to the spread