Economy Nears Collapse
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FirstFT: Police storm Columbia University campus and remove pro-Palestinian protesters
Also in today’s newsletter, Fed decision day and Berkshire after BuffettFinancial Times - World -
India's economy: The good, bad and ugly in six charts
India has one of the world's fastest growing economies but the benefits are yet to fully reach the poorest.BBC News - Top stories - India -
Japan is haunted by a return to emerging-economy status
The battering sustained by the yen since January is causing alarm in some quartersFinancial Times - World - Japan -
North Carolina Triad Tries to Reinvent Its Economy
North Carolina’s Triad was built on tobacco, textiles and furniture. Now it’s trying to forge a new economy from more highly skilled manufacturing.The New York Times - Business -
Highway collapse in China leaves at least 24 dead
A section of a highway collapsed early Wednesday in southern China, sending cars tumbling and leaving at least 24 people dead, according to state media.NBC News - Top stories - China -
At least 48 dead after highway collapse in China
A long section of a highway collapsed Wednesday in southern China, killing at least 48 people and injuring dozens more.CBS News - World - China -
At least 24 dead after highway collapse in China
State media reported that a long section of a highway collapsed Wednesday in southern China, killing dozens.CBS News - Top stories - China -
Death toll rises to 48 in China highway collapse
The death toll climbed to 48 on Thursday as search efforts continued in southeastern China after a highway section collapsed in a mountainous area.NBC News - Top stories - China -
China’s Politburo pledges more support for economy facing ‘many challenges’
Promise of measures to shore up growth comes as high-tech output drives expansion in factory activityFinancial Times - World - China -
Why Small-Business Owners Are Optimistic About 2024 Revenue--but Not the Economy
A new survey unpacks the reasons behind entrepreneurs' rosy outlook and reveals why they're less bullish on the economy overall.Inc. - Business -
Fed chair Jerome Powell: No sign of stagflation in U.S. economy
Federal Reserve Chair Jerome Powell said Wednesday there was no sign of stagflation in the economy, even as inflation remains stubbornly high and some signs of slowing growth have started to emerge.NBC News - Top stories - Federal Reserve -
Back on Campaign Trail for a Day, Trump Attacks Manhattan Trial and Biden Economy
The former president is using his brief spell out of the courtroom for rallies in Wisconsin and Michigan.The Wall Street Journal - World - Joe Biden -
Jay Powell’s dilemma: the US economy is too strong to cut rates
Sticky inflation means the Federal Reserve less likely to reduce borrowing costs before November electionFinancial Times - Business -
Hong Kong's Economy Slowed in First Quarter, But Beat Expectations
Hong Kong’s economy lost steam at the start of the year, as consumer and government spending weakened, but export strength helped growth beat consensus views that had tipped a much sharper slowdown.The Wall Street Journal - World - Hong Kong -
Jay Powell’s dilemma: the US economy is too strong to cut rates
Sticky inflation means the Federal Reserve less likely to reduce borrowing costs before November electionFinancial Times - World -
Russia’s new economy may end up prolonging its war
Fears of a hard landing may force the country to persist in militarisationFinancial Times - Business - Russia -
PG&E Nears Deal With KKR for Stake in Power Business Spinoff
The California utility is seeking regulatory approval to sell KKR part of a new company that would house most of its power generation business.The Wall Street Journal - World -
PG&E Nears Deal With KKR for Stake in Power Business Spinoff
The California utility is seeking regulatory approval to sell KKR part of a new company that would house most of its power generation business.The Wall Street Journal - Business -
Ahead of the Paris Olympics, police clear a migrant camp near City Hall
Paris police have evicted migrants from a makeshift tent camp next to City Hall, the latest clear-out that aid groups allege is a campaign of ’’social cleansing″ ahead of the Summer OlympicsABC News - World -
Treasury yields end at lowest levels in at least a week after Fed’s Powell sees unlikely chance of a rate hike
Yields on U.S. government debt finished at their lowest levels in a week or more on Wednesday, after Federal Reserve Chair Jerome Powell delivered comments seen as more dovish comments than what was implied by the central bank’s own policy statement.MarketWatch - Business -
Mellman: Election Day is nearing — How is President Biden doing?
Forecasters who suggest one candidate or the other is a certain victor have a 50/50 chance of being 100 percent right.The Hill - Politics - Joe Biden -
Arizona senate passes repeal of 1864 near-total abortion ban
Democrats pick up support of two Republicans to repeal law reinstated three weeks ago, with governor expected to ratify repeal. Arizona lawmakers have repealed the state’s 160-year-old statute banning nearly all abortions.. The 1864 law, which was ...The Guardian - World - Abortion -
Shooter threat "neutralized" near Wisconsin school, officials say
There were no reported injuries after an active shooter near a middle school outside of Madison, Wisconsin, was "neutralized," officials said. Charlie De Mar has the latest.CBS News - Top stories -
Armed Student Is Killed Near Wisconsin Middle School, Officials Say
School officials in Mount Horeb, Wis., southwest of Madison, said that no one else was harmed and that schools were placed on lockdown.The New York Times - Top stories -
US nears completion of $320mn floating pier for Gaza aid
Project aims to bypass damaged land routes into the besieged stripFinancial Times - Business -
Southeast Texas on high alert for flooding, rainfall nears historic levels
In Southeast Texas, the flood risk is dangerously high. Water levels in some areas are nearly as high as they were during Hurricane Harvey, which dropped more than 50 inches of rain in places, setting a new North American record. This morning, ...CBS News - Top stories -
U.S. trade deficit hovers near highest level in almost a year
The trade deficit was flat in March at a nearly one-year high, capping off a first quarter in which a bigger shortfall acting as a drag on the official measure of U.S. economic growth.MarketWatch - Business -
White House OMB director on foreign aid, Key Bridge collapse and more
President Biden, Vice President Kamala Harris and other White House officials have been on the campaign trail touting the administration's economic achievements. However, Americans in several battleground states say they are not satisfied with the ...CBS News - Top stories -
Ninth-inning collapse pushes Rockies into the bad kind of MLB history
The Rockies have trailed for at least part of all 29 of their games this season.Yahoo Sports - Sports - MLB -
A highway collapse in China kills 36 people and sends more than 20 cars down a steep slope
A section of a highway collapsed after heavy rains in a mountainous area in southern China, sending cars tumbling down a slope and leaving at least 36 people deadABC News - World - China -
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Expressway Collapses in Southern China Amid Heavy Rains, Killing 36
The road gave way Wednesday morning in an apparent landslide. At least 30 other people were injured, many of them seriously.The New York Times - World - China -
5th victim's body recovered in Baltimore Key Bridge collapse
The body of a fifth victim of the Baltimore Francis Scott Key Bridge collapse has been recovered.ABC News - Top stories -
Death toll jumps to at least 48 in southern China highway collapse
The death toll from a collapsed highway in southeastern China has climbed to 48 as searchers dug for a second day through a treacherous and mountainous areaABC News - World - China -
Insurer to Make $350 Million Payout in Baltimore Bridge Collapse
The check from Chubb would be the first large payout in what will likely be a yearslong wrangle over who bears the $1 billion-plus estimated cost of the bridge’s collapse.The Wall Street Journal - World -
Body recovered of fifth worker who died in Baltimore bridge collapse
Miguel Angel Luna Gonzalez was one of six construction workers killed when a container ship collided with bridge in March. The body of a fifth victim in the collapse of the Francis Scott Key Bridge in Baltimore, Maryland, has been recovered.. ...The Guardian - World -
Gazprom plunges to worst loss in decades as sales to Europe collapse
Energy giant suffers fallout from Ukraine war as Europe weans itself off Russian suppliesFinancial Times - Business -
Russia’s Gazprom plunges to worst loss in decades as gas sales to Europe collapse
Russian gas monopoly has suffered from Ukraine war as Europe has weaned itself off Russian suppliesFinancial Times - World - Russia -
CBS News poll finds economy is a top issue in major battleground states for Biden, Trump
The first CBS News battleground tracker poll of 2024 found Wisconsin, Pennsylvania and Michigan in a statistical tie between President Biden and former President Trump if people voted today.CBS News - Politics - Joe Biden -
People are spending less on fast food. That makes sense for consumers, even if it’s a red flag for companies — and the economy.
“Americans need to reprioritize their cash flow in difficult times,” according to one financial planner. “McDonald’s and Starbucks will survive.”MarketWatch - Business