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WSJ What’s News

Why Does a Miami Investor Want to Buy Russia’s Nord Stream 2 Gas Pipeline?

WSJ What’s News

The Wall Street Journal

News, Daily News

4.14.2K Ratings

🗓️ 22 November 2024

⏱️ 13 minutes

🧾️ Download transcript

Summary

P.M. Edition for Nov. 22. The Wall Street Journal’s Chris Matthews on the American businessman asking the U.S. for permission to bid on the natural gas pipeline, which runs from Russia to Germany. And Journal agriculture business reporter Patrick Thomas discusses how farms are preparing for a possible labor crunch if the Trump Administration follows through on its planned deportation of undocumented migrants. Plus, WSJ economics reporter Harriet Torry explains how Republicans feeling happy about Donald Trump’s election helped raise U.S. consumer sentiment higher. Tracie Hunte hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

SAP Business AI is AI that solves actual business problems, like predicting what your customers want before they know they want it, or making sure there are no weak links in your supply chain.

0:10.3

Revolutionary technology, real world's results. That's SAP Business AI.

0:18.1

Republicans feeling good about the economy or driving up U.S. consumer sentiment.

0:22.8

And the American farming industry is preparing for the impact of the Trump administration's planned immigration crackdown.

0:29.8

The industry would tell you that any time that there is a shortage of labor, prices will inevitably go up for consumers.

0:36.6

Plus, why a Miami businessman is planning to buy a sabotage Russian natural gas pipeline.

0:43.3

It's Friday, November 22nd.

0:45.3

I'm Tracy Hunt for the Wall Street Journal.

0:47.3

This is the PM edition of What's News, the top headlines and business stories that move the world today.

0:59.5

Republicans are feeling a lot perkier about the economy now that Donald Trump is on his way to the White House. Democrats, less so. According to data released today by the University of Michigan,

1:05.6

the index of consumer sentiment in Republican households climbed more than 15 points in November. In

1:12.1

Democratic households, the same index fell by more than 10 points. This release is the first that

1:18.0

includes surveys conducted after Election Day. WSJ economics reporter Harriet Tori joins us now.

1:24.9

So Harriet, obviously Republicans are happy that their candidate won the presidential

1:29.4

election, but why would that translate to consumers feeling more positively about current economic

1:35.2

conditions? That's something that economists have been asking themselves for a long time.

1:39.6

There is this general sense that if your party won the White House, you will tend to feel a little bit better

1:45.1

about the way things are in the country and the trajectory of the economy. And we really see that

1:50.4

in this University of Michigan survey for consumer expectations. So we have seen these big swings

1:56.8

in how people feel about the economy and feel about how their personal prospects are looking in the

2:01.4

months and years ahead. Even though sentiment for Republicans was up, it still remained higher

2:06.6

among Democrats and Republicans. What would account for that? Around half of the surveys were done

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