Miners Are Razing Forests to Meet Surging Demand for Metals and Minerals, Report Says

A report by the World Resources Institute shows that rapidly expanding mining operations are causing widespread destruction of tropical primary rainforests and protected areas, raising carbon emissions and displacing Indigenous communities JAKARTA, Indonesia (AP) — Whether it’s digging for metals and minerals for cellphones and electric vehicles or coal for power generation, mining around the…

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US Officials Face Tough Choices for Subsidizing AI Chip Manufacturing

SAN FRANCISCO (Reuters) – U.S. officials have earmarked close to $30 billion in subsidies for advanced semiconductor manufacturing, aiming to bring cutting-edge artificial-intelligence chip development and manufacturing to American soil. But with money set to start flowing in the next few weeks, accomplishing that goal is far from certain, industry experts say. The Biden administration…

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China’s Manufacturing Activity Expands in March After a 5-Month Lull

Manufacturing in China expanded in March after contracting for five consecutive months BEIJING (AP) — Manufacturing in China expanded in March after contracting for five consecutive months, according to an official survey of factory managers released Sunday, suggesting a rebound in industrial activities following the Lunar New Year holiday. The official purchasing managers index, or PMI,…

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Minnesota, Utah Among States Best Prepared for Coronavirus Economic Upheaval

A new Pew report praises states that have strong rainy day funds but suggests others will have a more difficult time dealing with a coronavirus-related recession. States such as Minnesota and Utah that both conduct regular stress tests to prepare for unexpected shocks to economic growth and tax revenues and that have robust rainy day funds are among those…

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The U.S. Economy Is Still Not Ready to Give Up the Ghost

Ahead of Halloween, the economy is still showing some signs of strength. The U.S economy has proven itself resilient throughout the coronavirus pandemic, recovering from the sharpest quarterly contraction in history, but earlier this year it looked to some as if it had finally succumbed. Two quarterly contractions in gross domestic product in the first…

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Fed: Economy Growing, Labor Market in Balance

The findings from the Federal Reserve reflect an economy that is neither too hot or too cold. The U.S. economy held steady in early fall as consumers showed more price sensitivity and the labor market came into better balance with a slight increase in hiring amid lower worker turnover. The benign reading from the Federal Reserve’s “beige book” – a…

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