Tuesday, July 1, 2025

FINANCE

China Hopes Alibaba Processors Will Help Make it a ‘Tech Superpower’

(Headline USA) To help make China a self-reliant “technology superpower,” the ruling Communist Party is pushing the world's biggest e-commerce company to take on the tricky, expensive business of designing its own processor chips---a business unlike anything Alibaba Group has done before. Its 3-year-old chip unit, T-Head, unveiled its third...

United Pilots on Vax ‘Leave’ Say They Could Have Prevented Disruptions

Contrary to previous assertions that an outbreak of omicron led to flight cancellations, recently fired pilots who refused to receive the vaccine said they would have been able to prevent the disruptions after normal flight crews called in sick over the Christmas holiday. Sunday saw a total of 5,936 delays...

Flight Cancellations Snarl Holiday Plans for Thousands

(Headline USA) Airlines continued to cancel hundreds of flights Saturday because of staffing issues that they claimed were tied to COVID-19, disrupting holiday celebrations during one of the busiest travel times of the year. FlightAware, a flight-tracking website, noted nearly 1,000 canceled flights entering, leaving or inside the U.S. Saturday,...

Buttigieg Shovels $241M at US Ports to Ease Dire Supply-Chain Crisis

(Headline USA) Transportation Secretary Pete Buttigieg is funneling more than $241 million in grants, subsidized by the US taxpayer, in a last-ditch effort to ameliorate the Biden administration's self-inflicted supply-chain crisis. The root cause of the crisis is a lack of workers, many of whom have been disincentivized to perform...

Solar Panel Tariffs Will Test Biden’s Loyalty to Chinese & American Manufacturers

The Biden administration will soon have to decide whether to appease China and climate change activists or to protect American manufacturing jobs. Early next year, import tariffs on solar panels will expire. Climate change activists want the Biden administration to let the tariffs lapse so that China can sell cheap solar...

Woke EPA Raises Vehicle Mileage Standards to 40 MPG, Driving Up Car Costs

(Headline USA) In a major setback for the auto industry, already kneecapped by crippling inflation, the Biden administration is raising vehicle mileage standards, reversing a Trump-era rollback that loosened fuel efficiency standards. A final rule issued Monday would raise mileage standards starting in the 2023 model year, reaching a projected...

Effort to Curb China’s Uyghur Slavery Finds Rare Bipartisan Support

(Headline USA) Senators gave final congressional approval last week to a bill barring imports from China’s Xinjiang region unless businesses can prove they were produced without forced labor, overcoming initial hesitation from the White House and what supporters said was opposition from corporations. The measure is the latest in a...

Bidenflation Costs Families Around $3,500 This Year

(The Center Square) A new report estimated the annual cost of elevated inflation this year will be around $3,500 per household. The Wharton School of the University of Pennsylvania, one of the nation’s leading business schools, released the report, which estimated much higher costs for American families because of inflation...

Biden Admin Using Phony Data to Cover Up Worsening Calif. Port Crisis

Despite claims by the Biden administration that the log jam at Port of Long Beach is getting better, new data suggest that, in fact, it’s getting worse, with longer wait times and less cargo being transferred onshore. The administration is using one set of numbers, while geo-data tracking software says...

Sen. Kennedy Warns Against Proposed SBA Direct Lending Program

(William Patrick, The Center Square) U.S. Sen. John Kennedy is trying to stop an effort to allow the U.S. Small Business Administration (SBA) from making direct government loans through its 7(a) lending program. The 7(a) program provides up to $5 million for eligible borrowers to spend on real estate, short-...

Fed Aims to Rein in Biden Inflation by Inflicting More Pain for Consumers

(Headline USA) For months, Federal Reserve Chair Jerome Powell responded to surging inflation by counseling patience and stressing that the Fed wanted to see unemployment return to near-pre-pandemic levels before it would raise interest rates. That proved to be a serious miscalculation as Democrats incentivized joblessness through overly generous welfare...

Christmas Catalogs Keep Coming, Despite Major Postage Hikes

(Associated Press) A big postal rate increase over the summer hasn’t stopped catalog retailers from stuffing mailboxes this holiday season. The U.S. Postal Service says more than 300 million catalogs flooded into people’s mailboxes last month, and the overall number of catalogs has grown 12% over last year, officials said. The...
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