Comment on this story Comment July inflationed 8.5 percent Over the past year, easing slightly from June, due partly to falling gas and energy prices, raising new hopes that inflation will continue to simmer down. Inflation in July was also flat from the month before, as a major dropoff in gasoline prices helped offset increases …
Utility companies are the latest industry to face supply shortages. Florida’s Emergency Management Director is warning new supply chain issues could lead to delays in power restoration after a major storm. The warning comes as the coast prepares for the peak of an above average hurricane season. Basic essentials to restore power, including transformers, are …
Supply shortages could mean delays in power restoration after storms Read More »
Electric automaker Lucid Group’s stock (LCID) is crashing this morning after the company slashed its 2022 production guidance and confirmed that it burned through another $800 million during the last quarter. Yesterday, Lucid reported its Q2 2022 earnings and confirmed small progress in delivering its Air electric sedan. In Q2, the automaker delivered 679 vehicles …
Lucid (LCID) crashes as it slashes 2022 production guidance and burns through $800M Read More »
Russian President Vladimir Putin attends a meeting with parliamentary leaders in Moscow, Russia July 7, 2022. Alexey Nikolskyi | Sputnik | Reuters Russia is facing “economic oblivion” in the long-term because of international sanctions and the flight of businesses, several economists have said. The International Monetary Fund last week upgraded Russia’s gross domestic product estimate …
Russia faces ‘economic oblivion’ despite short-term resilience Read More »
It’s over. An era of ever-rising house prices stimulated by cheap money is coming to an end. Central banks created a colossal real estate boom and soon they will have to cope with the consequences of the bubble being pricked. In China it is already happening. Banks in the world’s second biggest economy are under …
Era of soaring house prices is ending as central banks raise rates | Larry Elliott Read More »
The value of the US dollar against other major currencies has reached its highest level since the early 2000s. Even as recession fears mount and the economy shows signs of slowing, the dollar continues to surge. The dollar, which has been on a steep upward climb for about a year now, equaled the value of …
Why is the value of the US dollar so strong right now? Read More »
by: Alix Martichoux, Nexstar Media Wire Posted: Jul 28, 2022 / 06:42 AM PDT Updated: Jul 28, 2022 / 06:37 PM PDT For all the Californians paying out the nose for housing, gas, food and more, a small bit of relief is on the way. Legislators announced a round of “inflation relief” payments – also …
How much will you get? Inflation relief checks coming soon Read More »
AH Beard, a 123-year-old luxury mattress manufacturer based in Australia, started eyeing China around 2010. At the time, the family-owned company faced looming competition from low-cost, foreign-made mattresses in its home market. China, with its 1.4 billion consumers and a growing middle class with a taste for premium brands, seemed like a good place to …
They Flocked to China for Boom Times. Now They’re Thinking Twice. Read More »
Data: Pew Research Center analysis of the Current Population Survey; Chart: Baidi Wang/Axios Most people who switched employers between April 2021 and March 2022 saw an increase in their real earnings — despite surging inflation, according to a new Pew Research Center report. Why it matters: Amid proof that the “great resignation” is paying off, …
Why don’t Americans trust the government and other institutions? Maybe it’s because the government and other institutions aren’t trustworthy. There’s certainly plenty of evidence for both the lack of trust and the lack of trustworthiness. And if the trend continues, it bodes poorly for America. The news is bad on the lack of trust. A …
Team Biden denies we’re in a recession — Americans don’t trust government Read More »
