Newsletter Mar 15, 2024

Quick Six

House votes to ban TikTok in US as bill advances to Senate
Steven Mnuchin, who served as former president Donald Trump's Treasury Secretary, announced his endeavor to assemble a US-based investor consortium aimed at buying ByteDance's TikTok. This move comes in response to bipartisan legislation making its way through Congress, which could force ByteDance to divest its popular social media platform or face a ban in the US. The House passed a bipartisan bill that poses a major challenge to TikTok.
SEE MNUCHIN GROUP'S PLAN TO OPERATE TIKTOK IN US

US retail sales rebound, wholesale prices surge: Govt data
US consumer spending warmed slightly in February, according to government data released Thursday, with retail sales regaining ground after an earlier hit from cold weather. Retail sales bounced 0.6% last month to $700.7 billion, after January's decline was revised to a wider 1.1%, the Commerce Department said. The drop was the biggest in almost a year, causing some concern
WHOLESALE INFLATION ROSE TO THREATEN RECOVERY

Bernie Sanders proposes 32-hour workweek without pay loss
Senator Bernie Sanders, a prominent liberal figure in American politics, has ignited a contentious debate with his proposal to reduce the standard U.S. workweek to 32 hours without a loss of pay. The bill, titled the "Thirty-Two Hour Work Week Act," was the focus of Thursday's hearing, when Sanders called for an essential step toward enhancing the quality of life for American workers.
SEE HOW SANDERS' PLAN WOULD WORK FOR EMPLOYEES

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Markets

DJIA	38,905.66	-0.35%
S&P 500	5,150.48	-0.29%
Nasdaq Composite	16,128.53	-0.30%
Japan: Nikkei 225	38,807.38	0.29%
UK: FTSE 100	7,743.15	-0.37%
Crude Oil Futures	81.07	1.69%
Gold Futures	2,166.50	-0.66%
Yen	148.27	-0.03%
Euro	1.09	0.05%
* As of market close

Schumer calls for new elections in Israel

The leader of the US Senate called Thursday for Israel to hold new elections in the most strident criticism yet by a senior American official of Prime Minister Benjamin Netanyahu's handling of the war in Gaza. The rebuke from Chuck Schumer, the highest-ranking elected Jewish American in history, came amid increased pressure from President Joe Biden over the mounting death toll in the conflict. Schumer said Netanyahu was one of four "major obstacles" to peace, alongside Hamas, Palestinian leader Mahmoud Abbas and right-wing Israelis.

SEE REACTIONS TO SCHUMER'S DEMAND FROM A DEMOCRACY

Biden opposes US Steel sale to Nippon Steel

President Joe Biden said Thursday he is against the proposed sale of US Steel to Japan's Nippon Steel, as election year considerations appeared to outweigh the risk of angering key ally Japan. Biden's intervention in the planned $14.1 billion acquisition comes less than a month before he hosts Japan's Prime Minister Fumio Kishida for a state visit. But Biden's eye is on November's US presidential election against Donald Trump, with lawmakers from both sides having joined unions in opposing the sale of a American manufacturing icon to a foreign owner.

CAN BIDEN BLOCK THE DEAL TO SALE US STEEL TO NIPPON?

GOP group launches ad blitz against Trump

A group of Republican supporters who once backed former president Donald Trump have launched a multi-million-dollar ad campaign to convince American voters across the country to not vote for him in his third presidential run. The group, called Republican Accountability PAC, noted that while every voter who put their faith in the business mogul in 2016 and 2020 have different reasons for turning against him this time, "they all agree on one thing: he must never hold office again."

SEE WHY TRUMP IS USING GOP TO HANDLE HIS LEGAL FEES

Extra point

How much did US presidential candidates spend on advertising in 2020?

Thursday's answer: Oliver Stone directed "Born on the Fourth of July" but he was actually born on Sept. 15, 1946, the same birthday as Tommy Lee Jones, a friend and an actor in some of Stone's movies.

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