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...Biden has promised homebuyers a tax credit worth up to $400 a month for the next two years — though such a measure would require congressional approval....
...Now our economy is the envy of the world,” Biden said in his State of the Union speech on Thursday....
...Apologies to Genesis 1:1–4, but this was the first thing that leapt to mind when FT Alphaville read an interesting report by Barclays credit strategists on the introduction of a consolidated tape for Europe...
...chain had also agreed to allow customers to tip workers with credit cards at unionised stores for the first time in a “sign of good faith.”...
...Americans are feeling better about the economy, but they just won’t give Biden credit for it, according to a new FT-Michigan Ross poll [free to read]....
...the most union-friendly US president in decades....
...Wearing a United Auto Workers baseball cap, President Joe Biden told striking autoworkers on Tuesday that “unions built the middle class”, as he became the first sitting president to join a picket line....
...He has already handily won the first nominating contests in Iowa, New Hampshire, Nevada, South Carolina, Missouri, Idaho and Michigan, knocking out all but one challenger....
...And so I think this is unions saying, hey, we’re not in the pocket. We want your promise that any kind of second term is gonna be as good as the first was, if not better. Sonja HutsonYeah....
...In October, GM announced a one-year delay in expanding production for all-electric trucks at its Orion Assembly plant in Michigan....
...Credit card debt is a priority issue for voters — 28 per cent said it was one of their biggest sources of financial stress, according to the March edition of the FT-Michigan Ross poll....
...The move was first reported by The Detroit News....
...The United Auto Workers early on Friday called a strike against all three Detroit carmakers for the first time in the union’s nearly century-long history....
...Trump also visited Michigan during the labour action — but stopped at a non-union car parts factory to deride electric vehicles....
...However, there were also signs of banks starting to stabilise the availability of credit to the economy in the first three months of this year, following a four-year tightening period, as they cut the cost...
...But for the first time in years, labour advocates see a chance to grow union membership rather than simply fight rearguard actions against decline....
...By contrast with Biden’s revenue plans, Trump is expected to propose making permanent the tax cuts introduced during his first term of office, currently set to expire in 2025....
...Reinhardt’s warning reflects widespread hope in his industry that governments could start requiring companies to buy carbon removal credits. If this happens, the EU looks the most likely first mover....
...In 2015, the US Consumer Financial Protection Bureau ordered two such companies, Westlake Services and Wilshire Consumer Credit, to pay nearly $50mn in combined restitution and fines....
...In September, the UAW went on strike against all three Detroit carmakers at once, for the first time in its 88-year history....
...If the Reagan‑Thatcher revolution was about crushing union power, the pendulum seems to be shifting in favour of labour. Unions are changing too....
...Mortgage lending fell 0.1 per cent, the first decline for nine years. Corporate lending also slowed to 0.2 per cent....
...Michigan changed its labour laws a decade ago under Republican leadership to make the state less union-friendly, but its Democratic governor undid the legislation earlier this year....
...It is the first time that the UAW has simultaneously targeted all three of the carmakers that dominate Detroit — Ford, General Motors and Stellantis — as the union seeks higher pay for workers at a time...
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