A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business) The most powerful business lobby in the United States is not a fan of the landmark heath care and climate package President Joe Biden is expected to shortly sign into law. "Business Roundtable opposes the 'Inflation Reduction Act,' which, among other things, includes tax provisions that would undermine American economic growth and competitiveness," the group said in a statement shortly before the measure was passed by the Senate. But analyses by Wall Street institutions published over the past week found that the impact on corporate earnings would likely be limited, though some sectors could be more affected than others. Breaking it down: The two provisions in focus are a 15% minimum corporate tax and a 1% tax on … [Read more...] about New business taxes are coming. Wall Street isn’t worried
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THE DOLLAR’S DEMISE? … WSJ : Saudi Arabia Considers Accepting Yuan Instead of Dollars for Chinese Oil Sales Saudi Arabia is in active talks with Beijing to price some of its oil sales to China in yuan, people familiar with the matter said, a move that would dent the U.S. dollar’s dominance of the global petroleum market and mark another shift by the world’s top crude exporter toward Asia. The talks with China over yuan-priced oil contracts have been off and on for six years but have accelerated this year as the Saudis have grown increasingly unhappy with decades-old U.S. security commitments to defend the kingdom, the people said. The Saudis are angry over the U.S.’s lack of support for their intervention in the Yemen civil war, and over the Biden administration’s attempt to strike a deal with Iran over its nuclear program. Saudi officials have said they were shocked by the precipitous U.S. withdrawal from Afghanistan last year. EXAMINER : In blow to Biden, Saudi … [Read more...] about Editor Daily Rundown: Will Americans Face The Dollar’s Demise?
(CNN) The House of Representatives voted Friday to pass Democrats' $750 billion health care, energy and climate bill, in a significant victory for President Joe Biden and his party. The final vote was 220-207, along party lines. Four Republicans did not vote. Now that the Democratic-controlled House has approved the bill, it will next go to Biden to be signed into law. Final passage of the bill marks a milestone for Democrats and gives the party a chance to achieve long-sought policy objectives ahead of the upcoming midterm elections. It comes at a critical time as Democrats are fighting to retain control of narrow majorities in Congress. The sweeping bill -- named the Inflation Reduction Act -- would represent the largest climate investment in US history and make major changes to health policy by giving Medicare the power for the first time to negotiate the prices of certain prescription drugs and extending expiring health care subsidies for … [Read more...] about House passes Democrats’ health care and climate bill, clearing measure for Biden’s signature
BIDEN SHOULDERS THE BLAME… ‘When Will This End?’: Sen. Manchin Goes After Biden Admin Over Inflation Democratic West Virginia Sen. Joe Manchin blamed the Biden administration for record-high inflation Tuesday as the president and his staff continue to claim that it is Russian President Vladimir Putin’s fault. “Inflation is a tax and today’s historic inflation data tells another chilling story about how these taxes on Americans are completely out of control,” Manchin said in a statement. “When will this end? It is a disservice to the American people to act as if inflation is a new phenomenon,” the senator continued. “The Federal Reserve and the Administration failed to act fast enough, and today’s data is a snapshot in time of the consequences being felt across the country. Instead of acting boldly, our elected leaders and the Federal Reserve continue to respond with half-measures and rhetorical failures searching for where to lay the blame.” … AND THE BIRD POOP … … [Read more...] about Editor Daily Rundown: Vulnerable Dems Start To Sweat And Abbott Sends Illegals To Washington
- A + A TEHRAN (Aug 15): Iran has said it will inform the European Union of its official position on a draft text to revive the 2015 nuclear accord by Monday night, signalling it may be nearer to an agreement with the US over a deal that could restore its oil exports to global markets. "If the US shows a realistic approach and flexibility, we can reach the point of an agreement in the next few days," Iranian Foreign Minister Hossein Amirabdollahian said. Oil extended losses as traders weighed the prospect of more Iranian supply against concerns about Chinese demand. West Texas Intermediate dropped near US$88 (RM392.37) a barrel, falling as much as 4.3%. "We've clearly told the US we're ready to enter the phase of announcing the deal, and have a meeting of foreign ministers in Vienna on final conclusions, if our latest points are met," Amirabdollahian told reporters in a briefing in Tehran. The EU, which is acting as the main coordinator and mediator in … [Read more...] about Iran vows to give response on nuclear deal text on Monday
AFP Yangon, Myanmar ● Mon, August 15, 2022 2022-08-15 20:00 0 b2587592dd54281f57bdb7dba9112914 2 Asia and Pacific military-junta,Court,Aung-San-Suu-Kyi,corruption,human-rights,Min-Aung-Hlaing,jail Free A Myanmar junta court jailed Aung San Suu Kyi for six years for corruption on Monday, a source close to the case said, taking the ousted leader's prison time to 17 years. Suu Kyi, 77, has been detained since the generals toppled her government in a coup on February 1 last year, ending the Southeast Asian country's brief period of democracy. She has since been hit with a series of charges, including violating the official secrets act, corruption and electoral fraud. She faces decades in jail if convicted on all counts. Suu Kyi was sentenced to "six years imprisonment under four anti-corruption charges", said the source, who requested anonymity because they are not authorised to speak to the media. She appeared in good health and did not make any … [Read more...] about Myanmar junta court jails Suu Kyi for six years for corruption
Be it an app or a new employee policy, changes are rarely welcome with open arms. Still, while they may not be a fan favourite, changes are a key component of any successful business. Just like social norms, a business has to evolve if it’s to remain afloat. This statement may be most true of small businesses – companies without the backing of tech giants and investment firms. To remain relevant, they have to remain visible and this means rebranding. However, keeping up with the revolving door of business trends is no easy feat – one misstep could cost you everything. Fortunately, there are still a few sound rebranding steps out there and this article just happens to have them all! First things first – find the root of the problem Similar to sophomore mathematics, not every business obstacle can be solved on the spot. Rather, a solid business approach requires getting to the root of the problem before attempting to fix it. So, before rolling out a rebranding strategy, … [Read more...] about 4 Easy Steps for Rebranding Your Small Business