Stocks Get Fifth Quarterly Gain, Biden, Trade Competition
Biz / Tech
NEW YORK (AP) – Wall Street closed its fifth consecutive quarterly gain, continuing its comeback after a sharp drop in early 2020 at the start of the coronavirus pandemic. The S&P edged up 0.1% today, taking its advance over the past three months to 8.2% and 14.4% for the first half. Optimism about the outlook for the economy as coronavirus restrictions continue to lift sent the market to a series of records, including the third in a row for the S&P. Trade was relatively subdued as investors waited for the government’s monthly employment report, due on Friday.
WASHINGTON (AP) – The Biden administration is preparing an executive order to improve opportunities for consumers and small businesses by strengthening oversight of sectors of the economy dominated by a few select companies. The order is not yet finalized. The order would direct federal agencies to enforce existing rules to help competition. In some cases, this could mean dismantling regulations that preserve the power of big business. Two clear goals would be to end non-compete agreements that limit the amount of money a worker can make by changing employers and tackling a meat processing sector largely controlled by the Big Four. companies.
WASHINGTON (AP) – A program that allowed wealthy foreign investors to gain residency in the United States may come to an end. The program has long been the subject of complaints that it was about wholesaling US citizenship. Congressional authorization for a key component of the immigrant investor program was set to expire on Wednesday with weak prospects for renewal following the failure of a Senate bill that would have addressed long-standing concerns about inadequate regulation. The bipartisan bill would have created new regulations on part of the program that allows money from foreign investors to be pooled into funds to finance large projects in the United States, often top real estate. range.
NEW YORK (AP) – For the first time in 2020, the newspaper industry made more money from circulation than advertising. This comes from the Pew Research Center, which is revealing news media trends through a series of reports this summer. The change in revenue is not really good news: the money earned from print or digital subscriptions is about the same as in 2006. Yet, over the same period, advertising revenue has fallen by 49 , $ 3 billion to $ 8.8 billion last year. Pew also said employment in newspaper newsrooms was less than half of what it was in 2006, and the median salary of editors and journalists has fallen over the past eight years.
NEW YORK (AP) – Amazon says its carbon footprint increased 19% last year as it rushed to deliver a wave of online orders during the pandemic. The online shopping giant said activities related to its business emitted the equivalent of burning 140 million barrels of oil last year. The company said that although its carbon footprint increased, the amount of carbon emitted for every dollar spent on the site fell 16% by 2020.