A wave of heavy selling driven by investors’ concerns that the global economy could fall into recession rocked major stock indexes around the world Friday. The Dow Jones Industrial Average, the S&P 500 and the Nasdaq each lost more than 1.5% on Friday, with the Dow closing at its lowest level since late 2020. The […]
Category: Business
Beer Prices are going up; Why? Carbon Dioxide
Carbon dioxide has no taste, no odor, and no color — but it’s a vital ingredient in the beer business, from putting frothy bubbles in brews to blocking oxidization that makes beer taste stale. But brewers are now worried that a carbon dioxide shortage could force production cuts and price hikes. It’s the latest threat […]
Zuckerberg hit with legal charges over attempt to influence 2020 election
acebook CEO Mark Zuckerberg, his wife and three voting rights groups were hit Thursday with legal complaints alleging malfeasance related to activities surrounding the 2020 election. The Center for Renewing America (CRA) filed two complaints — the first against Zuckerberg and his wife Priscilla Chan and the second against the groups Center for Tech and […]
Fed raises interest rate .75%; will recession follow?
The Federal Reserve made history on Wednesday, approving a third consecutive 75-basis-point hike in an aggressive move to tackle the white-hot inflation that has been plaguing the US economy. The supersized hike, which was unfathomable by markets just months ago, takes the central bank’s benchmark lending rate to a new target range of 3%-3.25%. That’s […]
Fed Ex not the only corp to sound a warning bell
Corporate America is starting to brace for a recession. Economic bellwether FedEx (FDX) stunned Wall Street last week with a massive earnings warning and tepid outlook for the global economy. FedEx’s bad news overshadowed a more promising development on Thursday, the agreement between railroad operators and unions to avoid what could have been a crippling […]
Biden says don’t worry inflation is up just an inch
President Biden attempted to downplay the U.S. inflation crisis during a “60 Minutes” interview, claiming that the month-to-month rate has “hardly” risen – which prompted his CBS interviewer to dispute his response. CBS correspondent Scott Pelley asked: “Mr. President, as you know, last Tuesday, the annual inflation rate came in at 8.3%. The stock market […]
Is your electric bill high? Your heating bill might be next
If air-conditioning your home felt expensive this summer, get ready, because turning up the heat may cost even more this winter. The rising utility bills are being driven by the surge in the price of natural gas, which generates about 40% of the United States’ electricity. The U.S. Energy Information Administration expects this surge to […]
What happened to 2 dollar bills?
Inflation has made it hard to buy much with a buck these days. $1 pizza has disappeared. Dollar stores aren’t dollar stores anymore. So wouldn’t it make more sense to start paying with $2 bills instead? It’s considered a curiosity to some and scorned by others in the United States. The myths around the $2 […]
FedEx warns of a global recession; stock sinks
FedEx warned that a global recession could be coming, as demand for packages around the world tumbles. Shares of FedEx (FDX) plunged 21% Friday — the biggest one-day drop in its history — after the company warned late Thursday that a slowing economy will cause it to fall $500 million short of its revenue target. […]
New business mantra; “Go Woke, Go Broke”
The expression “go woke, go broke” has picked up steam in recent years as companies that embrace liberal ideology have suffered, but new ownership at CNN and Politico indicate the catchphrase can apply to news organizations, too. “CNN is learning the hard way that going hard left is bad for ratings and bad for business. […]
Soaring electricity bills are inflation flashpoint
Inflation cooled a bit last month, thanks in part to falling gasoline prices, but for many families, there’s another major strain on their household budget: soaring electricity bills. Take Bernice Brown, a retiree in Tuscaloosa, Ala.. In both July and August, her power bill topped a jaw-dropping $400. “It’s been damaging to be honest,” she […]
U.S. rail strike looms, White House scrambles to avert crisis
The Biden administration urged railroads and unions to reach a deal to avoid a railroad work stoppage, saying on Monday it would pose “an unacceptable outcome” to the U.S. economy that could cost $2 billion a day. Railroads, including Union Pacific (UNP.N), Berkshire Hathaway’s (BRKa.N) BNSF, CSX (CSX.O), and Norfolk Southern, have until a minute […]