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AM Business Notebook

>>The Week Ahead In Economic Reports 

(Washington, DC)  --  This week brings a lot for investors to digest.  To kick things off, the Federal Reserve Bank of New York is set to release both one and five-year inflation expectations on Monday.  The consumer price index comes out the following day, with analysts predicting the prices of goods and services likely rose last month - a development that would point to Federal Reserve policy makers needing to do more to lower inflation.  Retail sales are due Wednesday, weekly jobless claims on Thursday and the government's index of leading economic indicators on Friday.

 

>>House Republican Blames Democrats For "Scaring" Seniors

(Washington, DC)  --  One Republican congressman is blaming Democrats for trying to "scare" seniors by suggesting his party will cut funding to Medicare and Social Security.  Appearing on ABC's This Week, Kentucky Representative James Comer doubled down on a promise that those programs were not on the table for the GOP since they are important to everyone.  The rumors surfaced as the two parties face off over the debt limit, which must be raised by June to avoid a government shutdown.  Republicans are insisting on curtailing spending before cutting a deal, while Democrats want the ceiling raised without provisions.  Comer went on to say that his party is in the midst of "robust debate" and will come forward with a plan.  He also called for the shoring up of the program since they are "running out of money."

 

>>Energy Department Grants $2-Billion EV Battery Materials Loan

(Carson City, NV)  --  A battery recycling company says it will be able to produce enough battery materials for more than a million electric vehicles a year, thanks to a two-billion dollar loan from the Energy Department.  The loan to Redwood Materials was tentatively granted late last week.  The company based in Carson City, Nevada said it plans to ultimately ramp up to producing 100 gigawatt-hours annually of ultra-thin battery-grade materials from new and recycled sources in the U.S. for the first time.

 

>>"Magic Mike" Movie Making Magic At Box Office

(Los Angeles, CA)  --  The third in a series of films starring Channing Tatum as a male stripper is this week's top movie in North America.  "Magic Mike's Last Dance" earned just over eight-million-dollars in its debut weekend at theaters across the U.S. and Canada.  A pair of James Cameron blockbusters finished second and third this week.  "Avatar -- The Way of Water" took in nearly seven-million-dollars domestically while the silver anniversary re-release of "Titanic" made six-million-dollars.  Rounding out this week's Top Five are "80 for Brady" followed by the psychological horror film "Knock at the Cabin."      

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