Category: Current Affairs
Biden Administration Proposes 100% Tariffs on Chinese EV Imports
Biden Administration Ramps up Tariffs The Biden administration plans to announce a 100% tariff on Chinese EV imports. This will quadruple the previous tariff rate of 25%. The hike is simply the latest product of the ongoing trade conflict between the US and China. The Biden administration believes that China’s ‘overcapacity’ to manufacture’ is hurting the profitability…
Bank of England Holds Interest Rates for Sixth Straight Month
Bank of England Holds Interest Rates The Bank of England has opted to hold interest rates for the sixth consecutive month. Interest Rates continue to remain at 5.25%. Although this may be frustrating, the BOE governor, Andrew Bailey, indicated that they will cut rates within the next two months. In 2024, inflation has decreased from…
Cash App Under Fire as it Grapples with Federal Prosecution
Former Employee Reveals Shocking Information Block, the huge FinTech founded by the co-founder of Twitter, is currently under federal prosecution. A former employee revealed over 100 pages of illegal transactions and information regarding Block’s biggest services- the Square and Cash app. The former employee revealed these documents both to the Feds directly, and in an NBC interview, which is where The Political Outlook sourced its…
Apple Announces Monstrous $110B Buyback after Sales Decline
Historic Apple Buyback Apple has just announced the biggest stock buyback in the company’s history, valued at over $110 billion. They also announced a 4% dividend increase after the buy-back. This comes after Apple’s sales dropped by almost 10%, mainly due to the decreased Chinese popularity of Apple products. The Apple buyback is an effort…
US Federal Reserve Holds Interest Rates Amid Lingering Inflation
Inflation Dogs the USA The US Federal Reserve has opted to delay interest cuts, keeping the interest rates at a 23-year-high, as a result of inflation dogging the US economy. Their interest rates are between 5.25% and 5.5%, constant for the past few months inflation has slowly increased to 3.7% (measured according to the Consumer…
Tesla and Baidu Team Up: Propelling Self-Driving Systems in China
Tesla Enters China Elon Musk and Tesla have reportedly struck a lucrative deal with China’s internet behemoth Baidu, according to Reuters. Baidu Inc., based in Beijing, is a multinational company that produces a variety of internet-related technology. It is the leading search engine in China. Tesla wishes to collaborate with Baidu for a different reason,…