Taiwan Is Pushing Biden for a Tax Deal That Could Infuriate China
President Joe Biden wants to bring the world’s most sophisticated chipmakers to the US. Taiwan says he should offer them a better tax deal –- one that could infuriate China.
Bloomberg Business
Wild Stock Market Reversals Put Dip-Buyers on Pace for Historic Year
In the 2023 stock market, when one group of companies falls out of favor, another has usually been ready to take its place. The latest winner is firms with the riskiest credit, poised for their best week since January versus their sturdier-balance-sheet counterparts.
US Air Force Plans to End Lockheed Hypersonic Weapon Program
The Air Force won’t pursue a hypersonic weapons program under development by Lockheed Martin Corp. as officials signal more support for a different initiative by rival Raytheon Corp.
House Republicans Question US Spending on Ukraine Assistance
Congressional Republicans said billions of dollars in US assistance for Ukraine risks being misspent and could be better used for domestic priorities, a fresh sign of the party’s growing ambivalence regarding American support for the war.
Trump Fights Order for Testimony of Former White House Officials
Former President Donald Trump is appealing an order rejecting his efforts to block grand jury testimony from several former White House advisers in an investigation into efforts to undermine the 2020 presidential election.
Stocks Rise as Risk-On Rally Lifts Banks, Tech: Markets Wrap
US stocks advanced as risk appetite continued to recover from turmoil in the banking sector, led by gains in technology and financial shares.
Scotiabank Economist Excoriates Trudeau, Freeland Over $32 Billion Spending Boost
Prime Minister Justin Trudeau’s plan to add billions of dollars in new annual spending has some economists worried that Canada is at risk of racking up unsustainable debt — especially if economic growth comes in worse than expected.
Nasdaq 100 Enters Bull Market as Bank Jitters Ease, Tech Rallies
The Nasdaq 100 Index surged into a new bull market Wednesday for the first time in nearly three years as traders pile into technology stocks and angst around the recent bank turbulence eases.
Intel Rallies After Saying New Server Chips Will Come Sooner Than Expected
Intel Corp., the biggest maker of computer processors, surged 7.6% after announcing that new products for the lucrative server market will come sooner than expected.
FDIC Faces $23 Billion in Costs From Bank Failures. It Wants Big Lenders to Pay
The Federal Deposit Insurance Corp., facing almost $23 billion in costs from recent bank failures, is considering steering a larger-than-usual portion of that burden to the nation’s biggest banks, according to people with knowledge of the matter.
