Hello. Today we look at Biden’s record of fiscal support for the US economy, San Francisco’s cooling housing market, and the effectiveness of US unemployment benefits during the pandemic.

While it’s been a bumpy road getting there, President Joe Biden on Friday is expected to win passage for one more big

The US will consume less gasoline this year than previously thought, although total demand will still top 2021 levels, according to the latest government forecast.

Gasoline consumption for 2022 is now forecast at 8.83 million barrels per day, down from a previous forecast of 8.84 million, according to the Energy Information Administration’s

The world’s biggest container lines are on course to post profits in 2022 that will top last year’s record by 73%, according to a new forecast, buoyed by logistics and labor strains that are squeezing capacity amid sustained US demand for imports.

Global sales of green bonds, the largest category of sustainable debt by amount issued, plunged to a 19-month low in July amid a typical summer lull and as opportunistic borrowers preferred traditional bond offerings that are faster to complete.

Sales of green bonds fell to about $24 billion last month from over $45 billion the previous month, data compiled by Bloomberg show. That’s the lowest since December 2020, when companies and governments issued about $7.7 billion of green debt.

Corn supplies in the next few months will help slow Kenya’s inflation, according to the chairman of one of the nation’s top edible-oil producers. That will be good news for the incoming president.

Inflation will likely slow by December because new supplies of the grain -- used to make ugali, a stiff porridge and staple food consumed by most Kenyans -- will damp price gains, Vimal Shah, chairman of

A US agency dealing with national security said Far East Cable Co. violated American export-control rules by signing contracts with Chinese networking giant ZTE Corp. and Iranian businesses to sell US-origin equipment to Iran. 

From September 2014 to January 2016, Far East Cable “served as a cutout” between ZTE -- which was under investigation by the US for export-rule violations at the time -- and Iranian telecommunications companies, the Department of Commerce’s Bureau of Industry and Security said in a

Gozycki, who’s based in Washington, is set to join Capitol Meridian as a partner, said one of the people, all of whom asked not to be identified because the appointment isn’t yet public. He joined Carlyle in 2007 and worked on growth, middle-market and large-cap technology investments, his LinkedIn

Cryptocurrency investment is “highly hazardous” but meltdowns in the sector haven’t created financial-stability risks for Singapore, regulators in the city-state said after another digital-asset firm ran into trouble.

The Monetary Authority of Singapore has rescinded its in-principle approval for crypto lender Hodlnaut to obtain a license to provide digital payment token services under the Payment Services Act, an MAS spokesperson said in an emailed statement Tuesday. That came after Hodlnaut told MAS of its intention to withdraw its application amid

The company, which sells Corona and Modelo beer in the US, was responding to concerns that it could be barred from using water in the country’s arid north. President Andres Manuel Lopez Obrador and the Mexican government “have expressed full support for our existing brewery operating plans in Mexico,” the company said in an emailed statement. Those plans include construction of a plant in Veracruz state, along the Gulf coast.  

The selloff in Novavax Inc. shares deepened on Tuesday, to erase $17 billion in market value from last year’s record high, after the Covid-19 vaccine maker slashed its revenue guidance.

Novavax fell as much as 32% on Tuesday, the most intraday since February 2019 after

The pharmacy chain, which has seen its stock decline by about 38% over the past year, plans to host a virtual event catering to retail investors on Aug. 24, according to a

Don’t be carried away by the recent bear-market rally. We have entered an environment which is the exact opposite of a rising tide lifting all boats. That will be a boon for good stock pickers. 

Many people are breathing a sigh of relief. After a miserable first half of the year, the bloodletting appeared to be over in July, which turned out to be a stellar month for stocks and other risk assets. The Nasdaq 100 is about to enter a new bull market, within a whisker of rising 20% from its lows.

Merger and acquisition activity has held up well this year, despite a less favorable funding environment, Sienna Mori wrote in a note, while pointing out that global volumes have come off 2021’s record highs. Even in a traditionally quieter summer period, $22.1 billion worth of takeovers were announced on Monday alone, data compiled by Bloomberg show.

Bitcoin resumed its slump on Tuesday, erasing all of the prior session’s gains and ending a four-day winning streak as volatility continues to whipsaw the crypto world.

The largest cryptocurrency by market value was down 4% to $23,119 at 1:21 p.m. in New York, the biggest one-day drop since June 26. Other cryptocurrencies didn’t fare much better, as Ether -- Ethereum’s native token -- sank below $1,700 on losses of around 5.7%, Cardano and Solana both took similar losses. 

The Philadelphia semiconductor index sank nearly 6% on Tuesday with all 30 members in the red. The decline was the worst in three weeks as investors fled the sector on

Over-50s leading a "great resignation" have shrunk the UK labour market and driven up inflation, the boss of John Lewis has said.

An exodus of around a million people from the workforce since the pandemic has led to an increase in inflation and wage growth, chairwoman Dame Sharon White told BBC Radio 4's Today programme.

When crypto lenders Voyager and Celsius went bankrupt last month, they turned their customers into creditors. Those users cannot touch their coins and don’t know when they will get repaid, how much they might recoup or what form payouts could take.

President Joe Biden signed into law a broad competition bill Tuesday that includes about $52 billion to boost domestic semiconductor research and development, calling it a “once-in-a-generation investment in America itself.”

“We need to make these chips here in America to bring down everyday costs and create jobs,” said Biden at a signing ceremony for the CHIPS and Science Act on the White House South Lawn, joined by executives from US semiconductor firms and congressional leaders.

Toronto-based Fairfax would pay C$20.73 a share in cash for the company, which owns fast-casual and fast-food brands such as East Side Mario’s, Kelseys and Swiss Chalet. The price is a 53% premium to Monday’s close, Recipe Unlimited said in a

UK households received yet another warning that they should brace for energy bills to exceed £4,000 this winter as high gas prices threaten to exacerbate a cost-of-living crisis.

The default price cap is set to rise to £4,266 ($5,163) in the first quarter of 2023, according to analysis from

Gilts sales by the Bank of England will add to the largest pile of long-dated bonds investors have had to absorb in over a decade, pressuring a market already on edge over the prospect of looser fiscal policy.

The BOE is set to sell around 10 billion pounds ($12.1 billion) of government bonds per quarter as it ramps up efforts to shrink its balance sheet. That will take net supply of long-maturity bonds to an estimated 46.9 billion pounds this fiscal year, the most in data going back to 2009, according to RBC Capital Markets.

Franklin Templeton’s Jenny Johnson is confronting the kind of problem her grandfather encountered decades ago.

With companies now taking longer to go public, Johnson wants to bring more private investment opportunities to everyday customers. The chief executive officer of the $1.4 trillion money-management giant sees the “democratization of private assets” as analogous to her grandfather offering mutual funds to retail investors at a time when it was hard to diversify.