Share to Twitter Share to Linkedin Drivers across the United States are suffering unprecedented pain at the pump, with national average prices spiking above $5 per gallon . Fortunately an inflation-busting option is ready to go – modeling shows electric vehicles save drivers thousands per year compared to internal combustion engines in most states. But these consumer-protection economics hinge upon the U.S. Senate passing legislation that has languished for months after passing the House of Representatives. The existing $7,500 federal EV tax credit cap of 200,000 vehicles sold has been surpassed by GM and Tesla TSLA while Ford, Nissan, and Toyota will likely exceed it this year. Without those extremely valuable incentives, EVs and billions in annual savings will slip out of reach for many families. If the Senate passes reconciliation legislation extending the EV tax credit cap for automakers and increases the federal tax credit to $10,000, it will … [Read more...] about Americans Are Suffering Record Pain At The Pump. Will Congress Provide Electric Vehicle Relief?
Pressure points for sinus relief
- A + A (June 23): Singapore’s key inflation gauge accelerated for a third month to the fastest in almost 14 years, bolstering the case for further monetary policy tightening and stronger action to buffer consumers from the drag of rising prices. The central bank’s closely watched core inflation print, which excludes private transport and accommodation, rose by 3.6% from a year ago in May, according to a joint statement on Thursday (June 23) from the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI). That pace, the fastest since December 2008, matches the median estimate in a Bloomberg survey, and compares with 3.3% in April. The increase was due to inflation across food, services, retail goods and energy, they said in the statement. They also repeated a warning from last month that prices will pick up in the coming months before easing toward year end as external pressures recede, while flagging upside risk from geopolitical … [Read more...] about Singapore’s faster inflation adds pressure to tighten policy
Share to Twitter Share to Linkedin GOODWOOD, England – The European auto industry is on the slide, along with much of the global competition, but investors hope big spending on developing electric cars will pay off one day. Meanwhile the coronavirus-inspired demise, perhaps temporarily, of high-profile auto shows across Europe in Geneva and Paris, give gatherings like the Festival of Speed here the rare chance for the automotive industry to measure public enthusiasm for its products. The annual Festival of Speed on the south coast of England draws more than 200,000 paying visitors over a 4-day weekend, drawn by the chance to get up close and personal to racing cars and expensive Ferraris, Lamborghinis, and Rolls-Royces, the latter of which are assembled at a factory about 5 miles away on the outskirts of Chichester. There is even actual racing, although that’s against the clock and up the so-called hill-climb, which isn’t really a hill at all, just a … [Read more...] about Europeans Under Pressure As They Strut Their Stuff At The Festival Of Speed
UOB: Room for Bank Negara to hike OPR by another 50bps before end-September - A + A KUALA LUMPUR (June 22): There is growing pressure on Bank Negara Malaysia to hike rates faster in the face of an aggressive US Federal Reserve, while there is widening consensus that global food and energy prices will continue to stay elevated for longer, with any potential supply shocks seen capable of driving prices and inflation even higher. In a note on Wednesday, UOB Global Economics and Market Research cautioned that the key takeaway is that "doing nothing or acting too slow" could sow seeds of more persistent and elevated inflation in the future, with more negative effects on demand and the economy. "Rate hikes would then also need to be sharper and more abrupt in that scenario. There may also be a need to act faster now in order to have sufficient policy buffers in preparation for the next recession (when it happens). A lagged policy response by BNM relative to peers … [Read more...] about Growing pressure on Bank Negara to hike rates faster
KUALA LUMPUR: Despite opening higher at the start of the opening bell, the FBM KLCI succumbed to profit taking activities as the key index lingered mostly in the negative territory. At 5pm, the 30-stock index plunged 26.78 points, or 1.84% to 1,431.10. The index opened 3.25 points higher at 1,461.13 this morning. Market breadth turned negative as losers overpowered the gainers on a ratio of 640-to-255 stocks. Traded volumes rose to 2.72 billion shares, valued at RM1.9bil as profit taking activities took control Along with investors' profit-taking, dealers said investors were also concerned about the the risk of recession arising from global inflation. Mercury Securities expects global equities to remain volatile in the short-term amid fears of persistently high inflation forcing central banks across the world to raise rates at a more rapid pace. On Bursa Malaysia, Nestle tumbled RM2 to RM132.50, Malaysian Pacific Industries shed RM1.92 to RM26.86, Kuala Lumpur Kepong lost … [Read more...] about KLCI plunges 26.78 points on heavy selling pressure
Reuters Washington, United States ● Thu, June 23, 2022 2022-06-23 13:55 0 e16ff64e7ecc29b417414912232da0e8 2 Europe G7,China,Joe-Biden,Indonesia,Jokowi,Recep-Tayyip-Erdogan,Ukraine Free Leaders from the Group of Seven rich democracies and the NATO alliance will work to increase pressure on Russia over its war in Ukraine next week, while underscoring their continued concerns about China, senior US officials said on Wednesday. President Joe Biden leaves Saturday to meet with other G7 leaders in southern Germany before heading to Madrid for a summit where NATO is expected to announce plans to expand its forces in eastern Europe and Washington will lay out steps to strength European security. Inclusion, for the first time, of leaders from Australia, Japan, South Korea and New Zealand in the NATO summit was aimed at showing that the war in Ukraine has not detracted from Western nations' focus on China, the officials said. G7 leaders, meeting at an … [Read more...] about G7, NATO leaders to ratchet up pressure on Russia, keep eye on China
Tennis – Wimbledon Preview – All England Lawn Tennis and Croquet Club, London, Britain – June 22, 2022 General view as a worker cuts a hedge at the All England Lawn Tennis and Croquet Club REUTERS/Paul Childs Wimbledon starts on Monday without Russia’s world number one Daniil Medvedev and Belarus’s former top-ranked Victoria Azarenka but the grasscourt Grand Slam will hardly feel like an exhibition event despite no ranking points on offer. The 2022 edition of the world’s most prestigious tennis tournament will be held without points after organizers decided to ban Russian and Belarussian players from participating following Moscow’s invasion of Ukraine. The men’s ATP and women’s WTA, which do not govern the four tennis Grand Slams, called the move discriminatory while stripping Wimbledon of ranking points that determine a player’s ability to enter tournaments and receive seedings. Britain’s Andy Murray won the singles title at the All England club in 2013 and 2016. He feels … [Read more...] about No ranking points on offer but Wimbledon no exhibition
Representative Image Dollar-rupee onshore forward premiums have seen a steady fall of late and the market has seen heightened volatility. The one-year onshore forward premium narrowed to 220 paise on June 22, its lowest level since December 2011. Currently, the one-year premium is at 244 paise compared to 356 paise at the start of this year. In the last two weeks, this has dropped by as much as 60 paise. Assessing the impact of falling forward premiums on the outlook for the rupee is important, especially against the backdrop of persistent foreign outflows, a widening trade deficit and soaring price pressures. The rupee closed at a record low of 78.3862 on June 22 and is down over 5 percent against the dollar so far this year. Also read: RBI present in forex market, will not allow jerky moves in rupee, says Deputy Governor Patra First, what are forward points? Close The forward point is the interest rate differential between two countries. These … [Read more...] about Explained | Why are dollar-rupee onshore forward premiums falling? Five key questions answered
It has been almost a year since Doris Kwan last stepped into a spa centre. Before the pandemic, the housewife from Selangor would regularly go for traditional Thai massages to help alleviate muscle aches and headaches. “When I step into a spa centre, I can immediately feel my mind being put at ease,” she said. Kwan, who is in her late fifties, added that she enjoys the relaxing ambiance that is created through scent, music and water features at the venue. According to Kwan, the soothing music at spa centres transports her to a different location. “Sometimes I feel like I’m inside a forest or at a riverside. I really feel a sense of freedom from my daily stress,” she said. Kwan, who usually frequents spas with her husband, shared that going for a spa treatment allows her to have quality time with her spouse. Spas, wellness centres and massage centres are allowed to reopen after braving a long closure period. - Filepic Kwan is certainly looking forward to her next rest … [Read more...] about Time for Malaysians to feel good at spa and massage centres
Share to Twitter Share to Linkedin Topline President Joe Biden proposed Wednesday a federal gas tax holiday, as gas prices hover around record highs nationally, in a move that would instantly provide some relief to consumers—though some warn may not be the cure-all Biden seeks. Key Facts Biden called on Congress to pass a three-month federal gas tax holiday, which would suspend federal taxes on gas during the period. This would make gas 18 cents cheaper per gallon and diesel 24 cents cheaper. The proposal actually comes as prices are slightly decreasing: the national average price per gallon of gas is $4.955 Wednesday, according to the American Automobile Association, a slight drop from its peak of $5.016 last Tuesday but still a sharp increase from a year ago, when it was $3.069 average per gallon. Despite the holiday likely providing some quick relief at the pump, it may contribute to further inflation by providing an indirect … [Read more...] about What Is A Federal Gas Tax Holiday? Here’s How It Could Impact Prices At The Pump.