Author: Press Room

By Timothy Gardner WASHINGTON (Reuters) -The Biden administration on Thursday approved exports of liquefied from the Alaska LNG project that one day could help the United States compete with Russia to ship natural gas from the Arctic to Asia. The Department of Energy approved Alaska Gasline Development Corp’s (AGDC) exports of LNG from the project to countries with which the United States does not have a free trade agreement. Backers of the roughly $39 billion project hope it will be operational by 2030 if it gets investments and all required permits. The LNG would be exported mainly to countries in…

By David Randall NEW YORK (Reuters) – Investors are awaiting earnings reports from consumer discretionary companies in coming weeks for a read on how the U.S. economy is faring amid persistently high inflation and the Federal Reserve’s most aggressive rate hiking cycle since the 1980s. Consumers have largely held strong over the last year even as interest rates raised costs for mortgage loans to credit card financing. Yet widespread layoffs in the first quarter have hit affluent technology workers while the recent regional banking crisis has pulled back available credit for households, potentially squeezing the outlook for spending on entertainment,…

Seven months after Burger King unveiled a strategy to revive its U.S. business, the chain is selling more Whoppers than ever before.Burger King U.S. President Tom Curtis told CNBC that preliminary improvements to restaurant operations and new marketing campaigns are already boosting sales and customer satisfaction, although it’s still early innings.Parent company Restaurant Brands International is scheduled to report its first-quarter earnings and sales results for its divisions, including Burger King U.S., before the bell on May 2. Last quarter, Burger King’s U.S. same-store sales rose 5% on the back of implementing early steps in the turnaround plan.The $400 million…

Inflation is gradually falling but remains high, meaning consumers’ budgets continue to be stressed by fast-rising prices.For some, that might mean making tough financial tradeoffs — an exercise that starts by coming to terms with the situation and making an honest assessment of your needs, said Lazetta Rainey Braxton, a certified financial planner and co-CEO of virtual planning firm 2050 Wealth Partners.”The best defense against inflation is being true to knowing your necessities and accepting the fact that [prices have] increased,” said Braxton, a member of CNBC’s Financial Advisor Council.More from Ask an AdvisorHere are more FA Council perspectives on…

As big V8-powered cars like the Dodge Charger and Challenger approach the end of their lives as production cars, an altogether different sort of gasoline engine has become increasingly common on American roads: the three-cylinder. To many Americans — except ardent car geeks — the number of cylinders in an engine may be of little concern. But three is an odd number in more ways than one. We’re used to small engines having four cylinders, and the idea of an engine having only three can raise concerns about whether it provides adequate power or might be noisy and rough-running. If…

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Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.Over the past year, there has been a noticeable trend in the crypto market, with numerous new projects focusing on environmental or social causes. While the crypto industry is inherently democratic, teams are recognizing the power of decentralized technology to bring people together for good causes. As a result, many projects are tailoring their solutions to address noble goals.Chimpzee is a prime example of such a project, offering an ecosystem that is not only fun and profitable but also…

11,000 companies used a man’s address to register for sales tax, BBC News reported. Dylan Davies, from Cardiff, Wales, was sent 580 letters in one day in connection with sales tax. The UK tax authority said it’s taken action to stop Davies being contacted over payments. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app A man received 580 letters in one day demanding payment for sales tax bills after thousands of Chinese companies fraudulently used his home address to register for tax, BBC News…

Elon Musk-owned Twitter purchased 10,000 GPUs, apparently to get into the generative AI boom. This move goes against Musk’s open-letter plea for companies to slow down AI development. It also backs up Reid Hoffman’s claim that some like Musk wanted the pause so they could catch up. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app It looks like LinkedIn cofounder Reid Hoffman was right: some execs want to pause AI development out of their own self-interest. Take Elon Musk as “Exhibit A.” Insider reported Tuesday that…

A court in Dubai has ordered KPMG Lower Gulf to pay more than $231mn to a group of investors who claim they lost money because of poor-quality audit work by the firm on a fund they were invested in. The judgment, issued late last month, found that the Big Four firm breached international auditing standards by approving the financial statements of an infrastructure fund managed by collapsed private equity firm Abraaj Group.The award is one of the largest ever against an accounting firm and exceeds KPMG Lower Gulf’s revenues of $210mn in its most recent financial year.An official translation of…