Day: June 22, 2022

Inflation Complicates Biden’s Deliberations on Student Loan Forgiveness

WASHINGTON — The soaring cost of food, gasoline and other staples is further complicating a fraught debate among President Biden and his closest advisers over whether to follow through on his campaign pledge to cancel thousands of dollars of student loan debt for tens of millions of people. While Mr. Biden has signaled to Democratic …

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China Tariffs Are Important Source of Leverage, Says Biden’s Top Trade Negotiator

Lawmakers on Wednesday pressed President Biden’s top trade negotiator over the administration’s trade strategy toward China, including what, if anything, Mr. Biden planned to do about tariffs on Chinese goods that were imposed by his predecessor. The Biden administration has been under pressure to ease some or all of the tariffs as a way to …

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Judge Allows Fox News Defamation Suit to Include Fox Corporation

A judge presiding in the defamation lawsuit against Fox News by Dominion Voting Systems ruled this week that the cable channel’s parent company, Fox Corporation, can be included in the suit, broadening the possible legal exposure to the highest ranks of the Fox media empire. Dominion had argued that Fox Corporation should also be part …

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Musk says Tesla’s two newest car plants are losing billions of dollars

Tesla Inc’s new car factories in Texas and Berlin are “losing billions of dollars” as they struggle to increase production because of a shortage of batteries and China port issues, Chief Executive Elon Musk said recently. “Both Berlin and Austin factories are gigantic money furnaces right now. Okay? It’s really like a giant roaring sound, …

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Rupert Murdoch and Jerry Hall Are Said to Be Divorcing

Rupert Murdoch, the media titan, and Jerry Hall, the model and actress, are getting divorced, according to two people with knowledge of the decision. The people would speak only anonymously to discuss a personal matter. Bryce Tom, a spokesman for Mr. Murdoch, declined to comment. Representatives for Ms. Hall could not immediately be reached for …

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UK Inflation Rate Reaches 40-Year High of 9.1 Percent

The inflation rate was pushed to a fresh 40-year high, the nation’s statistics agency said on Wednesday, by rising food prices in particular. In Britain, a cost-of-living crisis has intensified as wage growth hasn’t kept up with rising prices. Pandemic-related supply chain disruptions and the war in Ukraine have caused the price of essentials such …

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The I.R.S. Backlog of Unprocessed Tax Returns Has Grown to 21 Million

WASHINGTON — The backlog of tax returns at the Internal Revenue Service has grown to more than 20 million in the last year despite efforts by the Biden administration to process filings and send out refunds more quickly, the national taxpayer advocate said in a report published on Wednesday. The report offers a critical assessment …

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