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IRA spurs renewable buildout, but Biden climate goals remain elusive
Category: Business News
A year after its adoption, the Inflation Reduction Act has bolstered the adoption of carbon-free power, but the country does not yet appear to be on track to meet President Biden’s climate goals. The IRA provided significant tax credits for low-carbon and carbon-free energy sources including wind, solar, nuclear, carbon capture technology and biofuels, as well as for […]
Source: The Hill
Published: May 1, 2024
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Norway central bank raises rate to 4.0%, eyes September hike
Category: Business News
Norway’s central bank raised its benchmark interest rate by 25 basis points to 4.0% on Thursday to try to curb inflation, as widely forecast, and said it would likely hike again in September. Thursday’s hike had been expected by all 31 economists polled by Reuters, and a majority of poll participants predicted the rate would hit […]
Source: Reuters.com
Published: May 1, 2024
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Statement from President Joe Biden on EU Adoption of Adequacy Decision for U.S.-EU Data Flows
Category: Business News
“I welcome the European Commission’s adequacy decision for the EU-U.S. Data Privacy Framework—which will allow personal data to be transferred from Europe to U.S. companies safely and securely. Today’s announcement represents the culmination of years of close cooperation between the United States and the European Union, and affirms the strength of our transatlantic relationship founded […]
Source: The White House
Published: October 7, 2023
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Norway Retail Sales Surprise With Biggest Jump in 6 Months
Category: Business News
Norwegian retail sales rose more than expected in May, jumping the most in six months, led by hardware stores and petrol stations, in another sign that consumers show resilience to rising costs. Seasonally adjusted retail sales, excluding motor vehicles, rose 1.2% from April, compared with a median forecast of 0.2% gain in a Bloomberg survey […]
Source: Bloomberg
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Exxon CEO Tells Europe to Follow US Approach to Climate Action
Category: Business News
European leaders looking to tackle climate change should look to US policy and “let the market work” to avoid driving companies away with prescriptive regulations, Exxon Mobil Corp. Chief Executive Officer Darren Woods said. “I think it’s a huge mistake to be picking winners and losers and focusing on specific technologies,” Woods told the CEO Norway’s […]
Source: Bloomberg
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