Economy & Finance

First Casualty Of Power Bill Crisis? Pennsylvania Abandons Regional Carbon-Trading Market The worsening power bill crisis across the Mid-Atlantic region, a combination of nation-killing climate change policies colliding with surging load growth from data centers, has forced Pennsylvania Governor Josh Shapiro to sign legislation allowing the state to abandon the Regional Greenhouse Gas Initiative (RGGI). […]

ChatGPT’s Use Of Song Lyrics Violates Copyright, Munich Court Finds Authored by Vince Dioquino via Decrypt.co, Judges found GEMA’s claims valid, ordering OpenAI to cease reproduction and provide damages and disclosure. The court said GPT-4 and GPT-4o “memorized” lyrics, amounting to reproduction under EU copyright rules. The decision, not yet final, could set a major

Newsom’s Former Chief Of Staff Indicted On Public Corruption Charges Authored by Travis Gillmore via The Epoch Times, California Gov. Gavin Newsom’s former chief of staff, Dana Williamson, was indicted by a federal grand jury on 23 charges related to public corruption, according to a Nov. 12 statement from the Department of Justice. U.S. Attorney

Fetterman Hospitalized After ‘Ventricular Fibrillation’ Causes Fall Sen. John Fetterman (D-PA) was hospitalized on Thursday after suffering facial injuries from a fall during a walk near his Western Pennsylvania home.  According to a spokesperson, the Democrat Senator was transported to a Pittsburgh hospital “out of an abundance of caution.” “During an early morning walk, Senator Fetterman sustained

Subprime Auto Delinquencies Worst In Over 30 Years Building on the theme of low-income consumers and young people burdened by debt and affordability woes, signs of stress are continuing to emerge across the subprime tier of the auto loan space. A new Bloomberg report on Wednesday, citing data from Fitch Ratings, showed that delinquency rates

Ugly, Tailing 30Y Auction Sends Yields Higher After yesterday’s mediocre, tailing 10Y auction, and with yields pushing higher today, prospects for the week’s final coupon auction, today’s $25BN in 30Y bonds, were not too exciting. Which is a good thing because the just concluded final refunding auction was quite disappointing.  The auction stopped at high

FBI Director Says China Agreed To Curb Fentanyl Precursors Authored by Catherine Yang via The Epoch Times, FBI Director Kash Patel said at a press briefing on Nov. 12 that during his recent trip to China, Chinese officials agreed to take significant steps to curb fentanyl precursor exports to the United States. “That was the

“Chicagoans Do Not Want Us To Bankroll The Regime”: Chicago Will No Longer Buy Treasury Bonds Authored by Jonathan Turley, “It’s a bold statement, isn’t it?” Those words of Chicago City Treasurer Melissa Conyears-Ervin hardly capture the moment. Yesterday, Conyears-Ervin declared that her office would no longer invest in U.S. Treasury bonds to protest what she called

WTI Holds Gains Despite Big Crude Build, New Record US Crude Production Oil prices are bouncing modestly off of yesterday’s ugly drop driven by OPEC+’s outlook for a sizable surplus (glut) ahead. The IEA also flagged a deteriorating outlook for a sixth consecutive month, saying in a report on Thursday that supply will exceed demand by