LONDON (AP) — The British pound stabilized as British authorities sought to assuage investor concerns after the biggest tax cut in 50 years sent the currency to a record low. Some companies are predicting a devastating combination of currency depreciation and rising interest rates. The turmoil is already having a real-world impact, with UK mortgage lenders pulling hundreds of offers out of the market. This is due to expectations that the Bank of England will raise interest rates significantly to offset the inflationary impact of the recent depreciation of the pound. The Wine and Spirits Trade Association says a crash in the pound will raise prices for consumers and threaten the jobs of hundreds of British workers in bottling plants.
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Meta Disables Russian Propaganda Network Targeting Europe
MENLO PARK (AP) — Facebook says it has identified and stopped a chaotic network of fake accounts spreading propaganda about Russian aggression across Western Europe. Facebook’s parent company Meta says the network has created over 60 of his websites. The website mimics legitimate news outlets and parrots Russian issues about Ukraine. Over 1,600 fake Facebook accounts were used to spread propaganda to audiences in Germany, Italy, France, the UK, and Ukraine. Meta says it is the largest and most complex network linked to Russia identified by the California-based company since the Ukrainian invasion began. The Russian Embassy in Washington, DC did not respond to a request for comment.
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State gets final OK to build highway EV charging network
WASHINGTON (AP) — All 50 states have received final approval to begin construction of their first national network of electric vehicle charging stations, one approximately every 50 miles along interstate highways. This is part of the Biden administration’s plan to promote the adoption of zero-emission vehicles. The Department of Transportation on Tuesday approved plans for the final set of 17 states to install or upgrade fast chargers along 75,000 miles of highway from coast to coast. By the end of the year, drivers in states like California, Colorado, Florida and Pennsylvania could see shiny upgrades to existing highway EV stations.
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Walmart to cover fertility treatments under insurance plans
NEW YORK (AP) — Walmart is partnering with an infertility startup to offer benefits under an insurance plan that helps employees expand their families. The nation’s largest retailer and private employer on Tuesday partnered with New York-based Kindbody to offer benefits such as in vitro fertilization and fertility testing, regardless of gender, sexual orientation, gender identity or marital status. announced that it will provide Walmart employees have access to over 30 fertility clinics and IVF labs across the United States. Kindbody’s clinics are also available to allow eligible workers access to Walmart’s surrogacy and adoption benefits.
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US consumers gain confidence as gas prices continue to fall
WASHINGTON (AP) — US consumers gained confidence for the second month in a row as gasoline prices continued to fall. The Conference Board announced Tuesday that the consumer confidence index rose to 108 in September from his 103.6 in August. Consecutive monthly increases follow three consecutive monthly declines as American households were hit hard by higher prices, especially at gas pumps. The Business Research Group’s current situation index, which measures consumers’ assessment of current business and labor market conditions, also rose again from 145.3 in August to 149.6 in September.
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Fed Chairman Powell Calls for Broader Regulation of Stablecoins
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell has said greater regulation will be needed as stablecoins become more widely used by consumers. Powell made a virtual remark at a conference on digital finance in Paris on Tuesday. Powell said the Fed has yet to decide whether to go ahead with the digital dollar. According to Powell, the Fed’s sharp interest rate hikes this year have led to the collapse of some stablecoins and a significant decline in the value of cryptocurrencies. Stablecoins are digital tokens that are pegged to the value of traditional financial instruments (often dollars).
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JetBlue CEO First Witness in US Lawsuit Against Two Airlines
BOSTON (AP) — A federal lawsuit seeking to end a partnership between American Airlines and JetBlue Airways in the Northeast is on trial. The government says the deal is effectively a merger that will cost consumers $700 million a year with higher fares. , said it is now able to open new routes suitable for travelers. They say the deal will boost competition by helping American and JetBlue compete with Delta and United, especially in the New York area.
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Musk’s Lawyers and Twitter Discuss Information Exchange
DOVER, Delaware (AP) — A Delaware judge has ruled out lawyers exchanging information in a Twitter lawsuit seeking to force billionaire Elon Musk to buy the social media giant for $44 billion. I’m listening. Tuesday’s hearing comes three weeks before his scheduled trial in the dispute. Musk agreed to buy his Twitter private in April, offering him $54.20 per share, easing the company’s content crackdown and rooting out fake accounts. swore He later said he wanted to reverse the deal, claiming Twitter failed to provide enough information about the number of fake accounts on its platform.
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The S&P 500 fell 7.75 points (0.2%) to 3,647.29. The Dow Jones Industrial Average fell 125.82 points (0.4%) to 29,134.99. The Nasdaq rose 26.58 points, or 0.2%, to 10,829.50. The Russell 2000 Index for small businesses rose 6.63 points, or 0.4%, to 1,662.51.
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