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Debt ceiling dispute heats up

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U.S. Treasury warns government will likely default on some bills as early as June

U.S. lawmakers are staring down a June 1 deadline of potentially defaulting on bills if Congress does not act to address the debt limit before then.

Congressional leaders are being summoned to the White House to try and come to an agreement over the debt ceiling dispute.

The move comes after the Treasury warned that the government would be likely to default on some bills as early as June if Congress does not raise the debt ceiling.

The Biden administration called on Congress to suspend the debt limit.

But Republicans say President Joe Biden and the Democrats are playing Russian roulette with America’s economy after a two-year spending binge that brought 40-year high inflation and pushed the nation’s debt to over $31 trillion.

Next week leaders from both parties of the House and Senate will meet at the White House for sit-down discussions.

Veronica Dudo is the U.S. Correspondent for Ticker News covering America’s biggest headlines. As an Emmy® Award nominated global journalist, Veronica has traveled across the country and around the world reporting on historical events that connect all citizens. Lauded as an award-winning international journalist, Veronica has executed stellar news coverage for NBC News, CBS News, The Hill, ME-TV Network and AOL. Her stories have highlighted a plethora of topics ranging from breaking news and politics to economic affairs across the USA, European Union, and Asia; cultural affairs; globalization; governance; education; and sustainability.

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Eisman identifies infrastructure as key investment opportunity

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Famed investor Steve Eisman, has shifted his focus to infrastructure, citing three main reasons.

 

The pandemic-induced shift towards onshore investment, the rise of AI necessitating data centre expansion, and the global push towards greener energy.

Eisman believes these trends offer a decade-long opportunity for investors, with Australia presenting ample opportunities for market participation.

Notable companies to consider for exposure include BlueScope and James Hardie Industries for building materials, Macquarie Technology and Goodman Group for data centres, and Worley, AGL Energy, and Origin Energy for electricity grid upgrades and green infrastructure.

However, Eisman cautions investors to approach utility investments carefully, considering their capital expenditure budgets in renewable energy and grid upgrades.

 

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Civil War cinema brings in the box office dollars

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Alex Garland’s film “Civil War” has made a significant impact at the box office, surpassing expectations with a $25.7 million opening weekend in North America.

Starring Kirsten Dunst, Wagner Moura, and Cailee Spaeny, the film explores a near-future scenario where California and Texas unite against a president’s authoritarian regime. Despite fictional elements, “Civil War” has sparked widespread discussion, with its themes resonating in today’s political climate. The film’s performance, coupled with positive reviews, suggests a promising trajectory in the coming weeks, bolstered by a relatively quiet release schedule.

You can catch the trailer here

 

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Oil likely to see hike following Iran’s Israel attack

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Global oil markets are poised for potential disruption as tensions escalate in the Middle East following Iran’s recent attack on Israel.

The attack, which targeted key infrastructure, has raised concerns about the stability of oil supplies in the region.

Experts predict that the incident could lead to a spike in oil prices as investors react to the heightened geopolitical risk. #ticker today #featured

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