Washington is gearing up for a battle over raising taxes as President Biden looks for a way to pay for his agenda while Republicans are planning to dig in their heels ahead of the 2022 elections. Biden last week signed a $1.9 trillion coronavirus relief package that was mostly deficit-financed. The White House and congressional Democrats are now turning their attention to another economic recovery package, possibly focused on infrastructure, jobs and climate change. A key question will include if and how to pay for such a proposal.
In his annual letter to shareholders of Berkshire Hathaway (BRKB), investing guru Warren Buffett disclosed that the company took an $11 billion writedown last year on its 2016 purchase of Precision Castparts, describing it as "a mistake." The 90-year-old billionaire, Berkshire's chairman since 1970, said in the company's annual letter to shareholders that the "ugly" writedown had a simple explanation.
Die Rezession wegen Corona ist nach der neuesten Prognose der EU-Kommission noch tiefer als befürchtet - selbst wenn es ab jetzt wieder aufwärts geht.
Gefälschte Treuhandkonten gibt es bei Wirecard wohl nicht erst seit dem vergangenen Jahr. Auch vermeintliche Unterlagen des ehemaligen Treuhänder Citadelle sind offenbar nicht echt.
Banks have pulled back from a popular credit card promotion on concerns that borrowers struggling during the coronavirus crisis may leave them with defaulting loans.
The messaging service Viber, the fifth biggest with more than a billion users around the world, is severing all ties to Facebook as part of a growing boycott of the company by commercial partners.
Das geht aus einem vom Wirtschaftsministerium als Verschlusssache eingestuften Dokument hervor. Die Türkei war damit das zweite Jahr in Folge die Nummer eins unter den Empfängerländern deutscher Kriegswaffen. Insgesamt wurden im vergangenen Jahr Waffen mit einem Wert von 823,6 Millionen Euro exportiert.
Die deutsche Wirtschaft ist im ersten Halbjahr 2020 in noch nie da gewesenem Maße geschrumpft: Die wirtschaftliche Gesamtleistung im zu Ende gehenden zweiten Quartal dürfte real um nahezu 14 Prozent geringer sein als im Schlussquartal 2019.
Die Verhandlungen über die künftige Beziehung geraten ins Stocken: Der Premier will nicht länger im Binnenmarkt bleiben, aber auch keine Zugeständnisse machen.
With more than 10 million men out of work and millions more working from home, perhaps indefinitely, this is not the best time to be selling men's dress clothes.
Die deutschen Exporte sind wegen der Corona-Rezession bei vielen wichtigen Handelspartnern so drastisch eingebrochen wie noch nie. Der Wert der Warenausfuhren sank gegenüber dem Vorjahresmonat um 31,1 Prozent auf 75,7 Milliarden Euro, wie das Statistische Bundesamt in Wiesbaden mitteilte.
Volkswagen accidentally posts new company name
Volkswagen on Monday appeared to accidentally announce a rebranding with the new name “Voltswagen,” before quickly removing the press release from its website. On Monday morning, the German automaker posted a statement on its website announcing the “rebranding,” in an apparent shift towards its investment in electric vehicles, before taking it down, USA Today reported. In the release, the automaker said the rebranding is “more than a name change."
White House downplays surprising February jobs gain
Top White House officials took little solace in the better-than-expected February jobs report, insisting Friday that the U.S. was far from a full and equitable recovery from the coronavirus pandemic. The February jobs report released Friday showed the U.S. gaining 379,000 jobs last month, nearly double the consensus estimates of economists. The unemployment rate also dropped 0.1 percentage points to 6.2 percent, its lowest level since March 2020, as businesses prepared for a post-pandemic world.
CDC signs off on Johnson & Johnson vaccine
The Centers for Disease Control and Prevention (CDC) on Sunday formally accepted the recommendation from its advisory panel that Johnson & Johnson's COVID-19 vaccine can be given to people ages 18 and older in the United States. The announcement by CDC Director Rochelle Walensky will allow vaccinations to begin as soon as the doses are received. Walensky called the decision "another milestone toward an end to the pandemic."
News outlets diverge over airing Trump's speech
CNN and MSNBC did not air former President Trump's speech at the Conservative Political Action Conference (CPAC) on Sunday while Fox News and other conservative outlets such as Newsmax and OANN carried his remarks live. Fox News began airing Trump's speech after the former president took to to the stage at 5 p.m. ET on Sunday. CNN continued on with coverage of the coronavirus pandemic and MSNBC continued to air its "PoliticsNation" program, though it aired a short clip from the speech.
Federal Reserve suffers widespread disruption
The Federal Reserve suffered a widespread disruption in multiple payment services Wednesday, including a system that banks and businesses rely on to zip trillions of dollars around the financial system each day. After experiencing problems for several hours, the crucial payment system, known as Fedwire, resumed normal operations shortly before 3 p.m. ET, according to the Fed's website.