Congress is flirting with a shutdown that would cost the US economy $1.8 billion for each week the government is closed, according to estimates by S&P Global Ratings. “The shutdown, if it’s brief, wouldn’t be a disaster, but would still reduce some of the economic gains the US has felt from the reopening,” Beth Ann…… MORE
Saudi Arabia, Russia and other leading oil producers have decided to stick with plans to increase supply in January despite a recent plunge in prices driven by fears of a new glut. The agreement was reached Thursday at a meeting of the Organization of the Petroleum Exporting Countries (OPEC) and key allies, known as OPEC+.…… MORE
Kellogg reached a tentative agreement late Wednesday night with the union that has been striking at its cereal factories for two months, signaling the end of one of the nation’s highest profile labor disputes. “We are pleased to announce that Kellogg Company and the union have reached a tentative agreement for a new five-year labor…… MORE
The US jobs recovery has picked up steam again in the final months of the year, bringing some good news in the face of persistently rising prices and a new Covid variant. Economists polled by Refinitiv expect another sizable jobs gain in Friday’s November employment report — 550,000 positions. If that holds true, it would…… MORE
SPACs started out the year with a bang that soon became a fizzle. But don’t count the Wall Street fad out just yet. What’s happening: Grab is set to start trading Thursday on the Nasdaq after raising $4.5 billion, giving the Singaporean startup a market value of nearly $40 billion. The deal, which involved merging…… MORE
It may be harder to find deals in the grocery store these days. Flashfood wants to help fix that, while also preventing food waste. Here’s how it works: The Flashfood app shows which grocers in your area have partnered with the startup. Once you click into the store, you can see which foods are nearing…… MORE
The Southeast Asian unicorn Grab had a rough first day on Wall Street. The Singaporean startup closed down nearly 21% Thursday as it began trading on New York’s Nasdaq. Grab went public by merging with a special-purpose acquisition company, or SPAC. The deal — in which Grab raised $4.5 billion, and was valued at nearly…… MORE
Meghan, Duchess of Sussex, has won the latest round of a prolonged privacy battle with the publisher of the Mail on Sunday. A UK court on Thursday dismissed an appeal brought by Associated Newspapers Limited (ANL) against a previous judgment that the duchess had a reasonable expectation of privacy regarding a letter she sent to…… MORE
A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. One of President Biden’s many fights right now is a fight against perceptions: Of economic peril, a never-ending pandemic, and his own political weakness. In recent speeches, he is issuing rebuttals and trying to change…… MORE
India has formally repealed three contentious farm laws that sparked more than a year of protests, nearly two weeks after Prime Minister Narendra Modi was pushed into a rare policy reversal that saw the legislation withdrawn. The country’s President Ram Nath Kovind signed a bill repealing the laws late Wednesday, after it was passed by…… MORE
