Wednesday, 7 April 2021

Daily Investor Update: U.S. Senate readying legislation on semiconductors, Biden says

U.S. Senate readying legislation on semiconductors, Biden says

U.S. Senate leaders are preparing to introduce legislation on semiconductors, U.S. President Joe Biden said on Wednesday as the nation wrestles with an ongoing shortage of the critical technology used in a range of devices from cars to computers.

Biden will press U.S. companies to pay 'acceptable' level of tax

U.S. President Joe Biden will sharpen arguments for his $2 trillion-plus new spending proposal in a speech on Wednesday, challenging those who oppose his plan and the taxes that would be raised to pay for it.

Biden willing to listen to alternatives to his plan to raise corporate taxes

U.S. President Joe Biden said on Wednesday that he is willing to listen to lawmakers opposed to his proposal to increase the corporate tax rate to 28 percent, but reiterated his pledge not to raise taxes on any American making less than $400,000.

Instacart, DoorDash plan to launch credit cards: WSJ

U.S. grocery delivery app Instacart Inc and food delivery firm DoorDash Inc are planning to launch their own credit cards, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

Oil up on global economic recovery, but high U.S. gasoline stocks weigh

NEW YORK (Reuters) -Global benchmark Brent crude inched higher on Wednesday on improving global economic outlook, but U.S. crude fell on rising gasoline inventories amid fears that new coronavirus outbreaks will weaken a global recovery in fuel demand.

Wall Street inches up, Treasury yields pare losses after Fed minutes

U.S. stocks inched higher and Treasury yields regained some ground following release of the Federal Reserve's minutes, in which the central bank said that while showing signs of progress, the economic recovery remains far from complete.

Facebook does not plan to notify half-billion users affected by data leak

Facebook Inc did not notify the more than 530 million users whose details were obtained through the misuse of a feature before 2019 and recently made public in a database, and does not currently have plans to do so, a company spokesman said on Wednesday.

S&P edges up in wake of Fed minutes

The S&P 500 and Nasdaq slightly added to gains while the Dow pared declines on Wednesday the Federal Reserve released minutes from last month's meeting that reinforced the U.S. central bank's position that it will be patient before raising rates.

Commerce chief Raimondo says there is room for compromise on Biden tax proposal

U.S. Commerce Secretary Gina Raimondo said on Wednesday there is room for compromise on the White House's proposal to raise corporate tax rates to 28% to help pay for the more than $2 trillion infrastructure proposal.

Uber dangles higher pay to lure U.S. drivers back, but warns it will not last

(Reuters) -Uber Technologies Inc said U.S. drivers on their ride-hail platforms should take advantage of pay hikes as trip demand temporarily outstrips driver supply, but warned the windfall will not last.

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