US Cotton Mills Face Closure as Export Markets Remain Farmers' Last Hope
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The U.S. textile industry is experiencing a significant downturn, with several mills closing in recent months. This decline is attributed to the de minimis trade loophole, which allows tax-free imports under $800. The National Council of Textile Organizations (NCTO) has identified this policy as a contributing factor to the loss of eight plants, including the closure of 1888 Mills in Georgia and a Hanesbrands hosiery plant in Arkansas .
The U.S. Department of Agriculture (USDA) forecasts a decrease in U.S. cotton mill use in 2023/24 to 1.75 million bales, down from 2.05 million bales in the previous season. This decline is attributed to economic uncertainties and constrained mill use. The NCTO and industry leaders are calling for policy changes to protect domestic manufacturing and jobs ....
#newstr #UsCottonMills #TextileIndustry #CottonFibers #Yarn #Fabric #ExportMarkets #Farmers
The Changing Face of Triton Buyers: Family Buyers Taking a Larger Share of Sales and the 2025 Ram 1500 Hurricane 6-Cylinder's Official EPA Fuel Economy Ratings Are In
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#6ed78abe ver:0.07
Mitsubishi Motors Australia Limited (MMAL) expects family buyers to account for up to 42% of all new generation Triton sales, followed by trade buyers at 34%. Large fleet buyers are anticipated to make up 15% of sales, while double income/no kids buyers will account for 9%. MMAL CEO Shaun Westcott believes the changing face of Triton buyers reflects the growing preference for versatile vehicles that can fulfill multiple roles .
The trend of family buyers taking a larger share of Triton sales has steadily progressed over the past decade. Mitsubishi Australia's senior manager of product strategy Owen Thomson said the utility aspect and dual-purpose nature of dual-cab utilities are appealing to more people. Mitsubishi believes the engineering available in dual-cab utilities now meets the nee...
#newstr #Triton #Mitsubishi #Ram1500 #Hurricane #Epa #FuelEconomy #HemiV8 #Twinturbo #Hybrid
Young Americans Experience Decline in Happiness, Loneliness and Economic Challenges Impacting Well-being
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#c456655c ver:0.47
The US economy is showing signs of improvement, with the GDP growing by 3.3% in the fourth quarter of 2023 and the unemployment rate below 4%. However, despite these positive indicators, many Americans are still facing financial challenges .
According to Northwestern Mutual’s 2024 Planning & Progress Study, Americans have a more optimistic view of the direction of the US economy than they did a year ago, but their feelings of financial insecurity have hit a record high. Just over half (54%) of US adults think that the US will enter a recession this year, a drop from the two-thirds (67%) who predicted a recession last year. At the same time, one-third (33%) of adults said that they do not feel financially secure, representing a jump from 27% who said the same last year and is the highest l...
#newstr #UsEconomy #AmericanStruggle #Inflation #HousingAffordability #DebtLevels #HardshipWithdrawals #FinancialInsecurity #WorldHappinessReport #YouthPoll #Happiness #Work
Top Stories on HERE.news in this hour...https://imagedelivery.net/665GHToRzycMVwZ9VsJNfA/f2c81a5d-a232-4684-98de-983f917b1e00/screenshot
Protests against Economic Hardship and Police Brutality Continue in Nigeria, Bangladesh, the US, Ghana, and Iran
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Protests against the soaring prices of food items and the high cost of living in Nigeria have continued in Lagos, despite warnings issued by the Lagos State Police Commissioner. On Monday, members of the 'Take It Back Movement,' a human rights group, along with other civil society organizations such as the Joint Action Front and the Coalition for Revolution, took to the streets of Lagos to express their grievances about the current economic situation. The protesters were seen carrying placards with various inscriptions at Ojuelegba under the bridge. Police officers and officers of the Lagos Neighbourhood Safety Corps were present to accompany the protesters. The Lagos State Police Commissioner had warned residents against disrupting economic activities during the planned protest, emphasizi...
#newstr #Protests #EconomicHardship #PoliceBrutality #HumanRights #Nigeria #Bangladesh #Us #Ghana #Iran
Rwandan asylum seekers in the UK claim their country is 'not safe'
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#b9229d82 ver:0.07
Pakistan has begun mass deportations of Afghans and other undocumented foreigners, with the aim of protecting public welfare and national security. The government crackdown on illegal foreigners includes the establishment of deportation centers and intensified security measures . The decision to deport 1.7 million Afghans and other undocumented foreigners is likely driven by domestic politics and worsening relations with Taliban-led Afghanistan. This mass expulsion could lead to a humanitarian crisis in Afghanistan, which is already facing multiple challenges . Pakistan has been a top destination for Afghans fleeing conflict for decades, but they have faced discrimination and accusations of stealing jobs and participating in terrorism. The decision to deport them comes as Pakistan faces ...
#newstr #Pakistan #Afghanistan #Deportation #Uk #Rwanda #AsylumSeekers #HumanRightsAbuses #Discrimination
Chevron Manager Jailed in Venezuela as Government Crackdown on Critics Continues
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#fe1960d2 ver:0.19
Venezuela's opposition, led by María Corina Machado, is facing limited options as Nicolás Maduro's regime moves away from the political deal reached last October . The opposition has three options: ignore the alleged disqualification of Machado and proceed, which would give Maduro an easy excuse to claim victory; select a candidate other than Machado, which would give Maduro an advantage; or have Machado choose a proxy candidate, similar to Juan Domingo Perón in Argentina in 1973 . Recent events have shown that Maduro's regime is cracking down on the opposition, disqualifying influential leaders and intensifying the crackdown on civil society . The regime's change of heart after the primaries resulted in Machado's victory, making a divided opposition impossible for the government's dream s...
#newstr #Venezuela #Chevron #GovernmentCrackdown #HumanRights #Arrest #Dissent #Elections #OilIndustry
UN Human Rights Chief Expresses Horror at Moscow Attack
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#d9ee7f5c ver:0.06
In addition to the Finnish leaders, UN human rights chief Volker Turk has expressed horror at the deadly terrorist attack in Moscow. He called for the perpetrators to be held accountable and emphasized the importance of justice in such cases. Turk's statement adds to the growing international condemnation of the attack. ...
#newstr #Moscow #TerroristAttack #InternationalCondemnation #Justice
India's GDP (PPP) Gains Outpace Germany and Britain: Report
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#820763b7 ver:0.26
India's economy continues to outperform countries like Germany and Britain in terms of GDP (PPP) gains, according to a report by the Delhi-based nonprofit Social Policy Research Foundation (SPRF) . As of 2024, India's GDP (PPP) is 3.6 times that of the UK, 2.1 times that of Japan, and 2.5 times that of Germany . The report highlights that India's share of GDP (PPP) as a percentage of the global GDP at PPP has been increasing, while that of the US, Japan, Russia, and other countries has decreased . This indicates India's growing economic significance on the global stage .
India's strong economic performance is further supported by recent data. The Indian economy grew by 8.4% in the third quarter of 2023-24, driven by double-digit growth in the manufacturing sector and a good growth rate in...
#newstr #India #Gdp #Ppp #Economy #Growth
Addressing the Impact of Minimum Wage Increase in Mauritius, Thailand, and Nigeria
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#0100e67b ver:0.05
In January 2024, workers in both the private and public sectors in Mauritius will see an increase in their salaries. The minimum guaranteed income for workers will be Rs 18,500, representing a monthly increase of Rs 6,925. Economists and unions have welcomed this decision, stating that it compensates for the loss of purchasing power among Mauritians. However, some experts have raised concerns about the potential negative consequences of this wage increase, including its impact on business competitiveness and household and corporate debt. They also warn of possible currency depreciation and inflationary pressures. Despite these concerns, traders anticipate an increase in consumption and hope to benefit from it. Some experts also believe that this decision could create excessive dependence o...
#newstr #MinimumWage #Mauritius #Thailand #Nigeria #AfricanCountries #Workers #Inflation
US Senate Passes $1.2 Trillion Spending Package, Sending it to President Biden for Signature
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The US Senate has passed a $1.2 trillion spending package in a bipartisan vote, sending it to President Joe Biden for his signature. The vote concludes the government funding process for fiscal year 2024, which began on October 1, 2023, making lawmakers six months behind schedule. The package includes funding for federal departments and smaller entities, as well as earmarks for community project funding. The Senate rejected amendments proposed by GOP lawmakers. The U.S. House of Representatives had also approved the package. President Biden is expected to sign the bill later on Saturday. The bill funds 70% of the government, including Defense, Homeland Security, Labor, Health and Human Services, Education, and State departments. The rest of the funding was approved in early March. Working ...
#newstr #UsSenate #GovernmentSpending #JoeBiden #FiscalYear2024 #BipartisanVote
Iraqi Central Bank Sells Over $750 Million in Hard Currency in Past Week; Foreign Exchange Sales Increase by 90%
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#178231ef ver:0.08
As the year 2023 draws to a close, the forex market is set to be influenced by various factors. One of the key factors is the policies of central banks, which have a significant impact on currency values. The decisions made by central banks, such as the Federal Reserve in the United States, can affect the strength or weakness of the US dollar. Additionally, geopolitical tensions in the Middle East are also expected to play a role in shaping the forex market. Conflicts and uncertainties in the region can lead to fluctuations in currency values. Another important factor to consider is the diverging economic growth trajectories of different countries. For example, the US and the UK may have contrasting economic performances, which can impact their respective currencies. Traders and investors ...
#newstr #CentralBankOfIraq #ForexMarket #ForeignExchangeSales
Former President Trump Promises to Topple Cuban Regime if Re-Elected
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#012d026f ver:0.6
Large crowds have gathered in cities across Cuba to protest against the worsening food and fuel shortages, as well as frequent electricity blackouts. The Cuban exile community in the US, including Janisset Rivero from the Center for a Free Cuba, is closely monitoring the situation. Rivero, who migrated to Miami in the 1990s but still has family in Cuba, describes the conditions there as dire, with a lack of transportation, food, electricity, and water. Eduardo Gamarra, a professor of international affairs, notes that the Cuban economy is in a dire state, and the recent protests are surprising given the significant number of Cubans who have already left the island and sought refuge in the US. Over 2.7 million Cubans and Cuban Americans now reside in the US. The Cuban government often blames...
#newstr #Cuba #Protests #FoodShortages #FuelShortages #ElectricityShortages #CubanExileCommunity #UsInvolvement #RegimeChange #PoliticalPersecution #FailuresOfSocialistSystem #DonaldTrump #JoeBiden #UsSanctions #Embargo
Trump's Criminal Trials Divert Attention from the Future of American Democracy, Says Salon Article
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#edf78ee9 ver:0.27
Former President Donald Trump's ongoing criminal trials are seen as a distraction from the more significant issue of the future of American democracy, according to an article by Gregg Barak in Salon. The article argues that Trump's ability to evade accountability for multiple felony charges, including attempts to overturn the 2020 election, should not overshadow the dangers he poses to the country. Trump's promise to release or pardon his convicted political supporters from the January 6, 2021, Capitol attack is seen as a further threat to constitutional order. The author calls on the mainstream media to stop normalizing Trump and his lawlessness and emphasizes the need to focus on the preservation of American democracy .
The Salon article provides historical context on fearmongering and ...
#newstr #DonaldTrump #CriminalTrials #AmericanDemocracy #RepublicanParty #Fascism
Sensex Surges Over 700 Points Following US Federal Reserve's Decision
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Indian stock indices showed strength on Thursday following a global surge in stock markets, prompted by the US Federal Reserve’s decision to maintain its projection of three rate cuts this year during its latest monetary policy review meeting. The Sensex jumped 743.95 points or 1.03% to 72,845.64 in early trade. NTPC and IndusInd Bank were the top gainers, up by 3%. The positive impact on India's stock market is attributed to the anticipation of a rate cut, which has been awaited for nearly a year. Foreign Institutional Investors (FIIs) have been selling Indian stocks, but Domestic Institutional Investors (DIIs) have been buying, resulting in a favorable trend for the DIIs. Asian shares bounced and gold prices and Japan's Nikkei jumped to record highs in response to the Fed's indication th...
#newstr #IndianStockMarket #Sensex #UsFederalReserve #RateCuts #NiftyItIndex #BankingStocks #ItStocks #Fiis #Diis #GlobalStockMarkets #EconomicGrowth #Inflation #InterestRates
Comparing Homelessness Challenges in the UK and US
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#0f917dd5 ver:0.14
A recent article from eachother.org.uk examines the government's plan to eradicate homelessness by 2025 in the UK. The government has released two reports, the Flow of rough sleeping research report and the Homelessness and Rough Sleeping Systems-wide evaluation feasibility reports, outlining their strategy. However, the article highlights that the reports acknowledge the challenges in achieving this goal, as housing spots are not guaranteed and there are delays in housing responses from councils and charities. This raises concerns about the feasibility of the government's plan to stop homelessness by 2025 .
The article also discusses the criticism faced by the government's plan. Campaigners and charity sector members have raised concerns about the lack of support for asylum seekers and i...
#newstr #Homelessness #Uk #Us #GovernmentEfforts #Challenges #Criticisms #Initiatives #Support #Resources #StateGovernments #LocalGovernments #Funding #California #Florida #IncomeInequality #UniversalHealthcare #PandemicAidPrograms #ImmigrationInflux
Biden Administration Urges Supreme Court to Reject Musk Appeal in SEC Dispute
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#47f2faeb ver:0.17
The Biden administration has urged the U.S. Supreme Court to reject Elon Musk's appeal in his dispute with the Securities and Exchange Commission (SEC). Musk, the CEO of Tesla, has been in a legal battle with the SEC over his tweets about taking Tesla private. The administration's stance aligns with the SEC's position that Musk's tweets violated securities laws. In other news, Vice President Kamala Harris is set to visit the site of the Parkland shooting in Florida to push for new gun laws. The visit comes as the number of measles cases in the United States has reached 62, surpassing last year's total. The U.S. Congress has also passed a $1.2 trillion budget bill to keep the government funded and avoid a partial shutdown. Additionally, the FBI is investigating a mid-air emergency on an Ala...
#newstr #ElonMusk #SecDispute #ParklandShooting #GunLaws #MeaslesCases #GovernmentFunding #FbiInvestigation #JanetYellen #ImfLending #HomeFlippers
The Potential Negative Impact of Trump's Proposed Tariffs on the U.S. Economy
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#c67064d4 ver:0.09
Former President Donald Trump is considering imposing more tariffs, including a 100% tariff on cars made outside the US, if reelected. Trump's previous trade wars have already cost Americans $230 billion, with over half of the duties collected during the Biden administration. Tariffs are a form of tax paid by American importers, not foreign countries. Despite the significant cost, Trump's tariffs were politically successful, as they influenced voters in regions heavily impacted by import tariffs to support Trump and elect Republicans to Congress. However, these tariffs resulted in higher prices for US consumers and job losses in the manufacturing sector. The tariffs were intended to pressure China to address unfair trade practices, but a phase two agreement was never reached between the US...
#newstr #Trump #Tariffs #UsEconomy #China #TradeWar #Inflation #GlobalEconomy
Employment trends in the Inland Empire: Recovery from COVID-19 recession
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#146367af ver:0.05
In the Inland Empire, located in the eastern edge of Los Angeles, the warehousing industry has experienced a significant downturn after years of relentless growth. The COVID-19 pandemic initially had a positive impact on the industry, with the Inland Empire recovering all lost jobs by the summer of 2021. However, in the last year, warehousing and storage jobs in the region have shrunk for the first time in over two decades. Truck transportation and wholesale trade employment have also declined. Industrial building vacancies are up and rents are down. Logistics businesses across the country are cutting back due to declines in freight volume. United Parcel Service (UPS) announced plans to shed 12,000 jobs worldwide, with California likely to be affected. The Inland Empire's overall job growt...
#newstr #Employment #InlandEmpire #Economy #UnemploymentRate #Recession
The Biden Administration's Emphasis on Industrial Policy and the Reindustrialization of the US
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#fbff3507 ver:0.08
India's economic growth cannot be built on Western models, particularly in the agriculture sector. Outdated models dominate policymaking, and it is crucial to question assumptions. The Lewis Model, which suggests moving people out of agriculture into manufacturing and services, is criticized for its lack of relevance in the era of automation and AI. The article presents different structural paths for farmers, such as the Lewis Path, Lewis Trap, Farmer Developing Path, and Farmer Excluding Path, and highlights how India has been on negative structural paths since 1993. The challenges in the manufacturing and service sectors in absorbing agricultural labor are also examined. The article calls for a shift in public policy to focus on retaining agricultural labor, making small farms more produ...
#newstr #India #Agriculture #Manufacturing #Germany #Philippines #IndustrialPolicy #GreenIndustrialPolicies #Reindustrialization #UsEconomy #Investment