‘Dog Biting Dog’: China’s Online Fight Could Further Empower Beijing

Internet companies are using the threat of government action as a cudgel against rivals. That could make the Communist Party the ultimate arbiter over the industry.

By Li Yuan

Kevin McCarthy’s Hot Take On Joe Biden’s Speech To Congress Goes Awry

House Minority Leader Kevin McCarthy (R-Calif.) drew scorn on Twitter Wednesday night for the dismissive way in which he responded to President Joe Biden’s first speech to a joint session of Congress.

Biden highlighted his administration’s accomplishments and laid out his future goals to transform the American economy in the 65-minute address. He also said he was open to working with Republicans.

But McCarthy, a Donald Trump sycophant, just tweeted in summary:

Later on Fox News, McCarthy repeated the now-debunked claim that Biden’s climate plan seeks to limit the amount of red meat that Americans can eat.

The California Republican told prime-time personality Sean Hannity: “It just continues, he wants control of your life. He’s going to control how much meat you can eat. Can you imagine that?”

Watch the video here:

Critics called out McCarthy for his tweet and the tossing of literal red meat to the GOP base:

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Gold Dips Ahead Of US GDP Data

Gold prices were subdued on Thursday as U.S. Treasury yields rose and the dollar firmed up ahead of U.S. GDP and jobless claims data due later in the day.

Spot gold dipped 0.4 percent to $1,774.34 per ounce, while U.S. gold futures were marginally lower at $1,772.95.

Fed Chair Jerome Powell’s dovish comments on Wednesday were largely anticipated, with investors fearing that strong U.S. economic data would force the force the Fed to taper its debt purchases sooner than expected.

U.S. Treasury yields advanced 1.8 basis points to 1.6486 and the dollar came off nine-week lows as attention shifts to the preliminary reading on first quarter GDP as well as reports on weekly jobless claims and pending home sales due later in the day.

As America emerges from the worst of the pandemic, fueled by massive government aid to households and businesses, economists predict that the world’s largest economy grew at an annualized rate of 6.1 percent in the first three months of the year — faster the than the 4.3 percent recorded at the end of 2020.

Gold gains marginally; silver jumps ₹ 1,776

Gold went higher by ₹ 61 to ₹ 46,472 per 10 gram in the national capital on Thursday, according to HDFC Securities.

The precious metal had closed at ₹ 46,411 per 10 gram in the previous trade.

Silver also moved up by ₹ 1,776 to ₹ 68,785 per kg, from ₹ 67,009 per kg in the previous trade.

In the international market, gold was quoting marginally lower at $ 1,777 per ounce, while silver was flat at $ 26.29 per ounce.

HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Gold prices traded marginally down with spot gold prices at COMEX (New York-based commodities exchange) trading at $ 1,777 per ounce on Thursday."

Shanghai bourse strengthens corporate bond disclosure

SHANGHAI, April 29 (Reuters) – Shanghai stock exchange on Thursday published rules to strengthen corporate bond disclosure as part of efforts to reduce financial risks.

Accurate, adequate and timely disclosure helps investors better evaluate bonds, which facilitates efficient allocation of capital, the exchange said in a statement on its website.

Abiomed Inc. Q4 Earnings Climb

Abiomed Inc. (ABMD) announced a profit for its fourth quarter that climbed from the same period last year.

The company’s bottom line totaled $56.86 million, or $1.24 per share. This compares with $31.80 million, or $0.70 per share, in last year’s fourth quarter.

Analysts had expected the company to earn $1.10 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 16.7% to $241.25 million from $206.66 million last year.

Abiomed Inc. earnings at a glance:

-Earnings (Q4): $56.86 Mln. vs. $31.80 Mln. last year.
-EPS (Q4): $1.24 vs. $0.70 last year.
-Analysts Estimate: $1.10
-Revenue (Q4): $241.25 Mln vs. $206.66 Mln last year.

Kamala Harris to visit Milwaukee on Tuesday: reports

Fox News Flash top headlines for April 28

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Kamala Harris has another trip away from Washington planned for next week – but it’s not a visit to the U.S.-Mexico border region.

The vice president on Tuesday will travel to Milwaukee, according to reports.

Harris is expected to promote the president’s American Jobs Plan and other agenda items, WKOW-TV of Madison, Wis., reported.

The trip will come just after the completion of President Biden and Harris’ first 100 days in office, according to FOX 6 of Milwaukee.

Harris’ other recent travel destinations have included Connecticut, New Hampshire, Illinois, North Carolina and California.

On Wednesday night, the vice president received a new assignment from Biden: to help advance the American Jobs Plan, a $2 trillion proposal to upgrade the nation’s infrastructure.

The assignment came just over a month since Biden tasked Harris with managing the administration’s response to the migrant crisis at the U.S.-Mexico border – an assignment for which Harris has taken much criticism from Republicans because of overcrowding in migrant shelters, crime in border towns and other issues.