Additional spending cuts in the order of 120 Billion Dollars in the new fiscal year. Speaking at a Congressional Black Caucus awards dinner, the us president warned them against the consequences of triggering a shutdown. Lets be clear, the government shuts down, that means members of congress and the us military or going to have to continue to work did not get paid. A Government Cut down damages everything. Funding the government is why the most basic responsibilities of congress and it is time for republicans to start doing the job america elected them to do. Lets get this done. That impasse over the Us Government budget comes at a time when the us economy is facing a significant number of challenges. The us auto industry, which is a key economic sector, is facing an expanding strike which could have an impact on growth. And while the Federal Reserve decided to leave rates unchanged when it met last week, it has signalled that it will raise rates again before the end of 2023. Earlier
the move comes after months of renewed scrutiny on the aerospace giant, after a door plug blew off a boeing jet mid flight injanuary. that followed two fatal crashes in 2018 and 2019, which killed 346 people. since then, congress, the department ofjustice, regulators, airlines and customers have demanded boeing raise its standards on safety and quality control. the change will allow boeing to have greater oversight and influence over spirit aerosystems, which has been criticised for its own share of quality control problems. that includes ill fitting panels and improperly drilled holes. the all stock deal was valued at $4.7 billion, or $8.3 billion, including spirit s debt. now it goes to spirit s shareholders and to regulators for approval. the european commission is going after facebook owner meta, saying its pay or consent advertising model is in breach of eu laws. under the tech giant s new service in the eu, users must either consent to receiving personalised ads or pa
hello and welcome to asia business report. i m monica miller. it s the start of a brand new week, and the economies of china and australia are in focus this week. beijing is due to release its latest manufacturing purchasing managers index for this month in a few hours. we saw a contraction over the last three months as china s post covid rebound lost steam. officials are also due to announce new measures to boost domestic consumption later on monday. on tuesday, australia s central bank will unveil its latest rates decision. the central bank had earlier hinted it could hike the cost of borrowing again as inflation continues to hover around 6 %. and on friday, it will give its update on its forecasts for price and growth for the australian economy. this is part of the monetary policy statement, released four times a year by the rba. earlier, i spoke with markets