costly - Shore News Network

GOP Faces Stiff Financial Battle In Key Senate Race After Costly Primary

The Daily CallerMarch 21, 20240

GOP Faces Stiff Financial Battle In Key Senate Race After Costly Primary Robert Schmad on March 20, 2024 Cleveland businessman Bernie Moreno won the Ohio Republican Senate primary in a strong showing Tuesday, and now faces an incumbent Democratic senator with a formidable campaign war chest. Incumbent Democratic Sen. Sherrod Brown enters the general election with $13.5 million in cash on hand as of Feb. 28, Federal Election Commission (FEC) filings show. Moreno, the newly-minted GOP nominee, meanwhile, had $2.4 million in his campaign account as of Feb. 28. The figures preview what is sure to be an expensive contest

Biden EPA Adjusting Costly Green Power Plants Scheme To Hedge Against Legal Challenges

The Daily CallerMarch 1, 20240

Biden EPA Adjusting Costly Green Power Plants Scheme To Hedge Against Legal Challenges Nick Pope on February 29, 2024 However, the EPA’s attempts to make America’s power plants go green will still be exorbitantly expensive and a detriment to the reliability of America’s power grid, experts told the DCNF. The EPA’s approach may allow it to withstand some legal challenges, but the delays to its timeline may render the regulation more easy to repeal in the future, especially if former President Donald Trump returns to the White House in January 2025, according to Bloomberg. “I can confidently say that this

M&T Bank’s profit plunges on FDIC fee-related expense, costly deposits

ReutersJanuary 18, 20240

(Reuters) – M&T Bank’s fourth-quarter profit plummeted 37% on Thursday, due to higher deposit costs and a special assessment fee the lender has to pay to refill a government deposit insurance fund The Federal Deposit Insurance Corp’s (FDIC) fund lost nearly $16 billion after the collapse of Silicon Valley Bank and Signature Bank, and the banking regulator is charging the industry a fee to recoup the loss. M&T booked an expense of $197 million tied to the special assessment fee. The FDIC fee has featured prominently in bank earnings this quarter, with JPMorgan Chase, Wells Fargo and others also accounting

Charles Schwab profit drops as costly deposits squeeze interest revenue

ReutersJanuary 17, 20240

(Reuters) – Charles Schwab’s fourth-quarter profit fell 47% as bigger interest payments on its client deposits and debt dented gains from a jump in asset management fees, the brokerage reported on Wednesday. The U.S. Federal Reserve’s aggressive rate hikes have been a drag on financial firms like Schwab, which primarily rely on clients’ deposits and uninvested cash balances to buy bonds and give loans. Schwab, like major banks, has been dangling higher interest rates to avoid depositors from seeking better returns elsewhere. It paid an average rate of 1.37% on deposits, compared to 0.46% a year earlier. To supplement its

Bucco: Governor Murphy’s Electric Vehicle Mandate Goes “Too Far, Too Fast, and is Too Costly”

Press ReleaseAugust 19, 20230

Sen. Anthony Bucco said Gov. Murphy’s rule to ban vehicle manufacturers from selling gas-powered cars in the State by 2035 is going too far, too fast, and will be too expensive for lower- and middle-class families.

Bill Seeks to Rid New Jersey Drivers of Costly Vehicle Paperwork Violations

Charlie DwyerJuly 19, 20230

Almost anyone who drives in New Jersey had a moment where they had documentation problems during a traffic stop with police. Not being able to find your valid insurance or registration card during a traffic stop can lead to a costly ticket that pads government coffers. How many times have you sifted through a pile of expired registrations only to find you didn’t bring the latest year’s document into your car? Now, a law being pushed in Trenton seeks to end the practice of police issuing documentation fines to drivers during traffic stops by extending registration terms for more than

BPU pulls radical and costly Plan Ban non-electric home fuel sources in New Jersey

Conservative TimesJuly 12, 20230

Trenton, NJ – In a surprising turn of events, the New Jersey Board of Public Utilities (BPU) has decided to remove the approval of a proposed “building decarbonization” plan from its agenda. This decision comes after legislators, the Division of Rate Counsel, and other stakeholders raised serious concerns about the rushed nature of the implementation and the potential overreach of the agency’s authority. Senate Republican Leader Anthony M. Bucco voiced his objections to the plan, highlighting the significant financial burden it could impose on New Jersey’s residents and businesses. “The BPU thought it could rush the approval of a major

‘Egregiously Wrong’: Federal Court Strikes Down Costly Biden Admin Regs Hampering Lobster Fishermen

The Daily CallerJune 17, 20230

‘Egregiously Wrong’: Federal Court Strikes Down Costly Biden Admin Regs Hampering Lobster Fishermen Nick Pope on June 16, 2023 The U.S. Court of Appeals for the D.C. Circuit ruled Friday that the National Marine Fisheries Service (NMFS) had no legal basis to rely on pessimistic statistical models to justify imposing costly federal regulations onto lobster fisheries and lobstermen. The court held in its decision that the NMFS “was egregiously wrong” in its interpretation of the Endangered Species Act (ESA) which would have enabled the agency to impose costly regulations on lobstermen in order to protect endangered whales. The challenged regulations

Children’s Hospital Recommends Costly ‘Fertility Preservation’ For Kids Undergoing Gender Transitions

The Daily CallerMay 22, 20230

Children’s Hospital Recommends Costly ‘Fertility Preservation’ For Kids Undergoing Gender Transitions Laurel Duggan on May 21, 2023 Seattle Children’s Hospital promotes expensive fertility preservation methods for children undergoing cross-sex treatments at its facilities, according to documents reviewed by the Daily Caller News Foundation. Puberty blockers and cross-sex hormones, which Seattle Children’s offers to children as young as 13 and a half years old, can severely and permanently limit patients’ fertility, a fact the institution admits in multiple documents. The hospital offers and promotes fertility preservation options, including for prepubescent children, according to its website, which can cost well over $10,000.

Mexico asks Texas to halt costly cargo inspections; will file USMCA complaint

ReutersMay 15, 20230

MEXICO CITY (Reuters) – Mexico’s economy ministry is urging the U.S. state of Texas to remove inspections of cargo crossing the border, which it said in a statement on Monday is causing millions of dollars in losses for U.S. and Mexican firms. The Mexican government will file a complaint with the trade facilitation committee under the United States-Mexico-Canada (USMCA) free trade agreement, which came into effect in 2020. Earlier this month, Texas started inspecting commercial vehicles crossing into the state from Mexico at a bridge connecting the Texas city of Brownsville with the Mexican city of Matamoros. Texas Governor Greg

Biden’s EPA Has An Ultimatum For US Coal And Gas Plants: Use Costly, Unproven Tech Or Shut Down

The Daily CallerApril 26, 20230

Biden’s EPA Has An Ultimatum For US Coal And Gas Plants: Use Costly, Unproven Tech Or Shut Down John Hugh DeMastri on April 25, 2023 An unreleased rule from President Joe Biden’s Environmental Protection Agency (EPA) is widely expected to push fossil fuel-fired power plants to implement carbon capture, an “expensive and difficult” technology that will likely force many coal plants to shut down, industry experts told the Daily Caller News Foundation. Carbon capture processes typically take carbon dioxide from power facilities, compress it, and then ship it off to deep underground storage sites or for commercial use, according to the International

Senate Democrats Urge Postal Service To Embrace Costly Electric Vehicles

The Daily CallerNovember 22, 20220

Senate Democrats Urge Postal Service To Embrace Costly Electric Vehicles Jack McEvoy on November 21, 2022 Democratic Sen. Ed Markey of Massachusetts and nine other Democratic senators on Monday called on the Postal Service to set a long-term goal of making nearly 100% of its delivery vehicles electric to reduce the production of “dangerous” carbon emissions. However, the service previously found that it would cost over $2 billion more to buy electric vehicles (EVs) instead of upgrading its fleet with new gasoline-powered trucks. The ten Senate Democrats told the Postal Service to use funding included in the Democrats’ climate spending

JON SANDERS: Biden’s Costly Regulatory State Would Make King George Proud

The Daily CallerNovember 20, 20220

JON SANDERS: Biden’s Costly Regulatory State Would Make King George Proud Jon Sanders on November 19, 2022 When British subjects in the American colonies had had enough of King George III’s “long train of abuses and usurpations” against them, they drafted a Declaration of Independence from Great Britain. It remains one of the greatest documents for human liberty ever created. They put forth before the world a defense of American independence not only with flawless reasoning and moral clarity, but also with a litany of practical examples of how the king had abused and usurped their rights under God and

Russia may build alumina plant to cut costly dependence on China

ReutersOctober 6, 20220

MOSCOW (Reuters) – Russia is considering building a plant to make alumina, used in aluminium production, to reduce its reliance on imports from China, which has risen since the start of the Russia-Ukraine conflict, a document seen by Reuters showed. One of the world’s largest aluminium producers, Russia secures 65% of its need for the intermediate product alumina through imports, mostly from China, a draft of the plan for development of Russia’s metals industry until 2030 said. Russia’s increased dependence on China’s alumina has driven up the production costs of aluminium and follows disruption of supplies from Ukraine and Australia

Costly energy imports push euro zone into trade deficit in June

ReutersAugust 16, 20220

BRUSSELS – Euro zone countries swung into a trade deficit in June from a surplus 12 months earlier because of soaring prices of imported gas and oil, Eurostat data showed on Tuesday. Eurostat said the trade gap of the 19 countries sharing the euro with the rest of the world, unadjusted for seasonal swings, was 24.6 billion euros in June, compared to a 17.2 billion surplus in June 2021. Seasonally adjusted, the deficit was even bigger at 30.8 billion widening from 27.2 billion in May. Eurostat did not give a breakdown for the euro zone, but for the whole European

‘Other Priorities’: Senate Democrats Stuff Defense Bill With Costly Aircraft

The Daily CallerJuly 29, 20220

‘Other Priorities’: Senate Democrats Stuff Defense Bill With Costly Aircraft Micaela Burrow on July 29, 2022 Democratic Senators allocated funding for six more of the U.S.’ most expensive weapon systems than the Pentagon said it requires in the latest 2023 defense bill approved Thursday. The Department of Defense (DOD) initially requested 61 F-35 fighter aircraft in its 2023 defense budget for all services, down from the 85 enacted in the 2022 bill, but the Senate Appropriations Subcommittee on Defense, chaired by Democratic Sen. Jon Tester of Montana, bumped that number up to 67. The allocations come amid criticisms that the

Boeing says ‘lessons learned’ from costly Air Force One deal

ReutersJuly 17, 20220

By David Shepardson LONDON – Boeing’s defense chief said on Sunday it had learned lessons from a contract to supply the U.S. presidency with new Air Force One aircraft, which has cost the planemaker almost $1 billion in charges and is up to three years behind schedule. Ted Colbert did not give details of learnings, but said they had contributed to a new schedule for the two planes that has seen deliveries pushed back to 2026 and 2027. “The lessons learned are important to us and we’re applying them going forward,” Colbert told reporters at a briefing ahead of the

Analysis-Euro’s 20-year low leaves ECB facing costly choices

ReutersJuly 7, 20220

By Balazs Koranyi and Francesco Canepa FRANKFURT – The euro’s tumble towards parity against the dollar has pushed the European Central Bank back against a wall, leaving its policymakers with only painful and economically costly choices. Letting the currency fall would push up already record high inflation, raising the risk of price growth becoming entrenched at a rate well above the ECB’s target of 2%. But fighting back against 20-year lows for the euro would require more rapid interest rate hikes, which could add to the misery for an economy already facing a possible recession, looming gas shortages and sky-high

‘Unprecedented Level Of Federal Overreach’: 16 Governors Urge Biden To Rescind Costly Wall Street Climate Rules

The Daily CallerMay 31, 20220

‘Unprecedented Level Of Federal Overreach’: 16 Governors Urge Biden To Rescind Costly Wall Street Climate Rules Thomas Catenacci on May 31, 2022 A coalition of 16 Republican governors sent a letter Tuesday to President Joe Biden, urging him to rescind a proposal introducing a series of climate requirements for companies. The recent Securities and Exchange Commission (SEC) proposal, which forces publicly-traded companies to share so-called climate change risks and greenhouse gas emissions, would harm businesses and investors by adding high compliance costs, the governors argued in the letter addressed to both Biden and SEC Chairman Gary Gensler. The climate disclosure

Analysis-Test, test, test? Scientists question costly mass COVID checks

ReutersMay 10, 20220

By Nikolaj Skydsgaard and Jennifer Rigby COPENHAGEN/LONDON – For many people worldwide, having cotton swabs thrust up their nose or down their throat to test for COVID-19 has become a routine and familiar annoyance. But two years into the pandemic, health officials in some countries are questioning the merits of repeated, mass testing when it comes to containing infections, particularly considering the billions it costs. Chief among them is Denmark, which championed one of the world’s most prolific COVID testing regimes early on. Lawmakers are now demanding a close study of whether that policy was effective. “We’ve tested so much

U.S. companies load up on costly inventories as new supply snarls loom in China

ReutersApril 14, 20220

By Timothy Aeppel (Reuters) – Through most of the pandemic, Kent International, Inc couldn’t import enough Chinese-made bicycles to supply Walmart Inc and its other big U.S. retail customers. But in recent months, the New Jersey-based wholesaler and manufacturer built a nice buffer — about a 10-week supply at its three warehouses in California, South Carolina and New Jersey, compared to the pre-COVID normal of four to six weeks of stock. And the company is glad to have it, now that a new wave of shutdowns in China to combat rising COVID cases is roiling global supply chains. “The supply

Analysis-Global banks face costly, arduous process to exit Russia

ReutersMarch 4, 20220

By Matt Scuffham and Megan Davies NEW YORK – Global banks face an arduous and costly process if they decide to close businesses in Russia, banking sources and experts say, complicating decisions over whether they should withdraw. Sanctions placed on Russia following its week-old invasion of Ukraine and retaliation from Moscow have raised questions over how much longer banks can continue. One banking source raised particular concerns about how banks navigate an order on rouble lending and the implications for foreign companies in Russia. Banks are also weighing the risk to their reputations in staying there. While banks have not