Share to Twitter Share to Linkedin Topline The Supreme Court overturned Roe v. Wade Friday, a monumental ruling for reproductive rights that’s also expected to broadly impact the economy, as a study from the International Women’s Policy Center found state economies already lose billions due to abortion restrictions—an issue that’s likely to now grow “exponentially.” Key Facts Numerous studies have found abortion restrictions and being denied an abortion have negative economic impacts —including by reducing participation in the labor force, decreasing earnings and increasing rates of poverty and debt—and Treasury Secretary Janet Yellen warned in May overturning Roe “would set women back decades” economically. Those effects are felt at the broader societal level: Abortion restrictions cost state economies an estimated $105 billion per year and getting rid of all state-level restrictions would increase the national GDP by nearly 0.5%, the … [Read more...] about Overturning Roe V. Wade: Here’s How Abortion Bans Will Hurt State Economies And The GDP
Why boomers should join the gig economy
Roe V. Wade Overturned: The Ultimate Explainer On What It Means
Share to Twitter Share to Linkedin The Supreme Court on Friday overturned the nationwide right to abortion in its landmark Dobbs v. Jackson Women's Health Organization ruling, causing major uncertainty about the future of abortion access in the United States. Here are answers to some of the biggest questions: What did the Supreme Court’s ruling say? In a decision by Justice Samuel Alito, the court upheld a Mississippi law banning abortion after 15 weeks of pregnancy. A majority of justices also voted to strike down Roe v. Wade (1973) and Planned Parenthood v. Casey (1992), effectively ruling abortion is no longer a nationwide right and giving states the power to ban the procedure. Alito called Roe v. Wade “an abuse of judicial authority” that relied on “egregiously wrong” reasoning, and argued the right to abortion is not expressly mentioned in the Constitution and isn’t “deeply rooted in this Nation's history and tradition.” Four other conservative … [Read more...] about Roe V. Wade Overturned: The Ultimate Explainer On What It Means
Beijing offers cash subsidies to spur demand for new-energy cars
- A + A (June 26): China's capital city is offering subsidies for purchases of new-energy vehicles to replace old cars, the latest attempt by local authorities to boost consumption in a slowing economy. The financial aid provided by the city of Beijing ranges from 8,000 yuan (US$1,196) to 10,000 yuan for qualified buyers who scrap or resell cars owned for more than a year, among other conditions, the local commerce bureau said in a statement on Sunday. The capital city's move follows similar measures announced by Shanghai late last month that also involved raising a cap on car ownership and cutting a purchase tax for some passenger vehicles. Passenger vehicle sales in China slid 17% in May from a year earlier, and not a single new car was sold in Shanghai in April as the virus gripped the city. China's central government was considering extending tax exemptions on new-energy car purchases in a bid to boost an auto sector battered by strict Covid-19 lockdowns, state … [Read more...] about Beijing offers cash subsidies to spur demand for new-energy cars
Rupee settles at all-time low of 78.33 against US dollar
Representative Image The rupee on June 24 slipped 1 paisa to close at its all-time low of 78.33 (provisional) against the US dollar. At the interbank foreign exchange market, the local currency opened at 78.20 and finally settled at its all-time low of 78.33, down 1 paisa from its previous close. During the day, the local unit witnessed an intra-day high of 78.19 and a low of 78.35 against the American currency. On Thursday, the rupee had settled at 78.32 against the US dollar. The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.25 per cent to 104.17. Brent crude futures, the global oil benchmark, advanced 1.13 per cent to USD 111.29 per barrel. On the domestic equity market front, the BSE Sensex ended 462.26 points or 0.88 per cent higher at 52,727.98, while the broader NSE Nifty gained 142.60 points or 0.92 per cent to 15,699.25. Foreign institutional investors remained net sellers in the capital market on Thursday as they … [Read more...] about Rupee settles at all-time low of 78.33 against US dollar
The rich-poor divide on clean power is getting wider
Representative Image To look at the way richer countries are spending money on the energy transition, you might think we’re within reach of bringing Climate Change under control. Investment in clean energy has only accelerated in the years since COVID-19 struck. In the second half of the last decade, it grew at a 2 percent annual rate. Since 2020, that’s risen to 12 percent a year. This year, it will hit $1.4 trillion, the International Energy Agency wrote in its annual investment report on June 22, putting green power comprehensively ahead of the roughly $1 trillion that’s being spent on fossil fuels. If you assume those trends will continue, it looks even more promising. Just continuing to inflate existing spending at current growth rates would imply that advanced economies and China spend in the region of $650 billion a year on clean power over the remainder of this decade, the IEA wrote — within sight of the $850 billion-odd that’s needed to put the world on track to … [Read more...] about The rich-poor divide on clean power is getting wider
Opposition parties unite to pick Yashwant Sinha as presidential nominee
File image of former Union minister Yashwant Sinha Seventeen major Opposition parties on June 21 reached a consensus on pitching former Union minister Yashwant Sinha as their joint candidate for the presidential polls. "We have unanimously decided that Yashwant Sinha will be the common candidate of the Opposition for the presidential elections," Congress leader Jairam Ramesh, who attended the meeting of Opposition parties in New Delhi, told the media. "We are going to file the nomination for the presidential elections on 27th June at 11.30 am," added Sharad Pawar, the Nationalist Congress Party (NCP) chief, who also attended the meet. In a joint statement, the Opposition bloc also appealed to the Centre-ruling Bharatiya Janata Party (BJP) and its allies to extend support to Sinha, in order to get him elected unopposed. "Ideally, a consensus candidate of the government and the Opposition should be elected for the highest office of the Republic. However, the initiative … [Read more...] about Opposition parties unite to pick Yashwant Sinha as presidential nominee
Climate change concerns rise as heavy rain batters Assam, Meghalaya
Flood-affected people stand on a road damaged by the flood waters after heavy rains in Nagaon district, Assam, on May 19, 2022. (Photo: Anuwar Hazarika/Reuters) Large swathes of Northeast India, especially Assam and Meghalaya, are experiencing extreme weather this year, as unusually heavy rain in May and June cause heavy flooding and deadly landslides, which experts say can be linked to some extent to climate change. In Assam, at least 108 people have died so far as flood waters triggered by torrential rain inundated towns, villages, paddy fields, forests and wildlife sanctuaries. Millions have been affected or marooned across the state. Meghalaya has fared no better, with landslides and flash floods caused by heavy rain blocking roads, washing away bridges and snapping power supply. Arunachal Pradesh, Tripura and Manipur have also reported landslides and floods. IMD data show Assam received 398.7 mm of rain from May 1-31, against a normal of 286.7 mm. (Photo: AFP) … [Read more...] about Climate change concerns rise as heavy rain batters Assam, Meghalaya
India exported 1.8 million tonnes of wheat to several countries since ban: Food Secy
Representative Image | Wheat sacks are loaded onto a truck at the grain market in Punjab. Amid rising inflation, the government, on May 13, banned exports of wheat. India has exported 1.8 million tonnes of wheat to a dozen-odd countries, including Bangladesh and Afghanistan, since the country banned exports of the grain on May 13, according to Food Secretary Sudhanshu Pandey. About 33,000 tonnes of wheat as humanitarian assistance has already been supplied to Afghanistan against the commitment of 50,000 tonne, he said. Pandey, addressing a ministerial conference on ’uniting for global food security’ held at Berlin, Germany on June 24, said India has always taken the needs of the world into consideration, even while meeting the onerous obligations of feeding its population of 1.38 billion people, an official statement said. The secretary said, "It is important here to explain that the recent decision by the Government of India (GoI) to bring about regulation on wheat … [Read more...] about India exported 1.8 million tonnes of wheat to several countries since ban: Food Secy
UP Legislative Council polls: All 13 candidates declared elected
Representative image All 13 candidates who had filed papers for the polls to the Uttar Pradesh Legislative Council were declared elected unopposed on Monday. Nine of the elected candidates were from the BJP and four from the Samajwadi Party. They included Deputy CM Keshav Prasad Maurya and former state minister Swami Prasad Maurya, who had quit the BJP and joined the Samajwadi Party ahead of the UP Assembly polls. Returning Officer and Special Secretary to the Legislative Assembly, B B Dubey, gave information in this regard here. The announcement was made soon after the time for the withdrawal of nominations on 13 seats came to an end. The other BJP candidates declared elected unopposed were Chaudhary Bhupendra Singh, Dayashankar Mishra Dayalu, J P S Rathore, Jaswant Saini, Danish Azad Ansari, Banwari Lal Dohre, Mukesh Sharma and Narendra Kashyap. Close Besides Swami Prasad Maurya, Samajwadi Party’s Jasmir Ansari, Mukul Yadav and Shahnawaz Khan made … [Read more...] about UP Legislative Council polls: All 13 candidates declared elected
Electric mobility startup Matter raises USD 10 million
Representative Image Electric mobility startup Matter on June 24 said it has raised USD 10 million (nearly Rs 80 crore) in its latest round of funding from investors, including Capital 2B, a technology fund backed by Infoedge and Climate Angels Fund. The new investors now join the founders and existing investors, including Baring Private Equity Partners, the company said in a statement. The fresh capital will be deployed towards continuous technological innovations, manufacturing, and marketing, it added. These include launching a line of electric mobility and energy storage products that are designed and innovated for India and the world using a completely new ground-up approach, Matter said, adding it also intends to launch its first electric motorcycle later in the year. "Matter is gearing up for its first electric motorcycle launch this year and we aim to develop a world-class portfolio of EV and energy storage products to catalyse the clean energy transition in … [Read more...] about Electric mobility startup Matter raises USD 10 million