Author: IA PressRoom

Texas Gov. Greg Abbott revealed agenda items for the state legislature’s first special session late Monday evening – a list that includes cutting property taxes and providing funds to secure the U.S.-Mexico border wall.On Twitter, Abbott said he would be “signing laws that advance our state and the future of all Texans.”The agenda items included formally ending COVID restrictions and mandates; providing more than $5.1 billion for border security and the Texas National Guard; protecting female collegiate athletes and women’s participation in sports; and, barring children from having life-altering gender mutilation.Abbott also plans to label Mexican drug cartels as foreign…

Rivian (NASDAQ: RIVN) stock price has drifted upwards in the past few weeks as the recent sell-off eases. Shares of the electric vehicle manufacturing company have risen to $15, higher than the year-to-date low of $11.8. Why I’m buying RIVN shares Rivian share price has been a huge disappointment to initial buyers since it has crashed by more than 90% from their all-time high. As a result, the company’s market cap has plunged to about $14.2 billion. At its peak, the company was valued at over $100 billion. There are several reasons for this plunge. First, the entire EV sector…

Ted Cruz was one of many politicians who condemned Uganda’s new anti-gay bill, calling it “horrific.” The new legislation means gay people in Uganda could be sentenced to death for their sexuality. But Cruz previously objected to pro-LGBTQ bills, like the 2015 ruling to legalize gay marriages. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Sen. Ted Cruz has joined the ranks of public figures condemning Uganda’s new anti-gay legislation, calling it “horrific” and “wrong.”The Texas Republican took to Twitter to condemn the law,…

This article is an on-site version of our Unhedged newsletter. Sign up here to get the newsletter sent straight to your inbox every weekdayGood morning. We have the makings of a US debt ceiling deal, though negotiations will continue as the pact is pushed past the outer wings of both parties in Congress. Even assuming default is avoided, however, it is not perfectly clear how markets will, or should, react. An initial relief rally in equity prices and long bonds would make sense. But as the debt ceiling intermezzo fades, the main themes of the market opera — inflation, interest…

© Reuters. FILE PHOTO: President Joe Biden shakes hands with House Speaker Kevin McCarthy of Calif., after the State of the Union address to a joint session of Congress at the Capitol, Tuesday, Feb. 7, 2023, in Washington. Jacquelyn Martin/Pool via REUTERS A look at the day ahead in European and global markets from Vidya Ranganathan U.S. and UK markets return from their long weekend on Tuesday with a touch of ambivalence, happy that the weekend resulted in a U.S. debt ceiling agreement and yet anxious about how the deal will fare in congress. More detail and clarity are expected…

© Reuters Investing.com — Cathie Wood, manager of the ARK Innovation exchange-traded fund (NYSE:), said on late-Monday that recent stock market darling Nvidia Corporation (NASDAQ:) was priced “ahead of the curve,” and that Tesla Inc (NASDAQ:) was positioned to benefit from recent breakthroughs in artificial intelligence. In a series of tweets, Wood balked at Nvidia’s target of a 25 times sales jump for 2023, and that other players would likely benefit more from a coming AI boom. Specifically, electric carmaker Tesla is the “most obvious” beneficiary of recent AI advancements, Wood said, citing the firm’s push towards autonomous driving technology.…

This article is an on-site version of our FirstFT newsletter. Sign up to our Asia, Europe/Africa or Americas edition to get it sent straight to your inbox every weekday morningRising interest rates have set back European bank mergers and acquisitions by at least two years, dealmakers warn, as a punitive feature of accounting rules means a long-awaited consolidation in the sector faces even higher hurdles.Dealmakers had bet higher rates would provide more cash for acquisitions as banks benefited from better margins and a boost to their share prices as profitability improved.Many had also hoped UBS’s state-sponsored rescue of Credit Suisse…

The Turkish lira is in trouble as concerns about the country’s economy continue. The USD/TRY exchange rate jumped to a record high of 20.16 after Erdogan won the election, setting the stage for status quo in fiscal and monetary policy. Similarly, the GBP/TRY and EUR/TRY continued surging as well. Turkish lira crash to continues The Turkish lira has been one of the worst-performing currencies in the emerging markets. It has crashed by almost 24% in the past 12 months and by 330% in the past five years. In all, the currency has lost almost 900,000% of its value since 1990. …

© Reuters. FILE PHOTO: An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China October 25, 2022. REUTERS/Aly Song By Jason Xue and Tom Westbrook SHANGHAI/SINGAPORE (Reuters) – The last great hope for China’s faltering post-pandemic rally is fading as the nation’s legion of small-time investors turns bearish on equities to double down instead on safer assets amid a stuttering economic recovery. Brokers and money managers had expected billions of yuan in excess savings would find their way to the stockmarket this year as the economy gathered…

© Reuters. Investing.com– Oil prices reversed early gains to trade lower on Tuesday as fears of more interest rate hikes by the Federal Reserve and and slowing economic growth largely offset optimism over raising the U.S. debt ceiling. Anticipation of more economic cues from major oil importer China also kept traders on edge, ahead of key and sector data for May due on Wednesday. fell 0.6% to $76.62 a barrel, while fell 0.4% to $72.39 a barrel by 23:41 ET (03:41 GMT). Both contracts had initially risen as much as 0.9%. Crude markets settled slightly higher after a choppy session…