Twitter stock prices nosedived after tech billionaire Elon Musk announced that he intends to break his $44 billion agreement to purchase the social media giant. A letter sent by the Telsa CEO’s legal team to Twitter on Friday, which was filed with the U.S. Securities and Exchange Commission (SEC), said that the agreement was being […]
Category: Business
Wholesale Gas & Crude prices are falling, Will we see relief at the pump?
Wholesale gas prices are falling, but experts are warning Americans about getting too excited ahead of the summer driving season. “Domestic gasoline demand dipped recently, which took some of the pressure off of pump prices. About 80% of stations are now selling regular for under $5 a gallon,” AAA spokesperson Andrew Gross said in a […]
Biden’s rush to green energy may have dire consequences
Every area of the U.S. could be in danger of experiencing power outages this summer amid a push to convert to renewable energy sources while taking traditional sources of power offline. “I think the entire country is incredibly vulnerable, because the entire country is facing a huge energy shortage and I don’t think there is […]
Experts say the US is already in a recession
Amid soaring inflation, the prospects of the year getting worse economically have been growing with experts warning that the U.S. is already in a recession. While a recession is technically a contraction of gross domestic product (GDP) across two consecutive quarters, some experts say such a definition is too simplified. A government report has shown […]
Biden’s EPA Is Attacking America’s Largest Oilfield
In case you were wondering whether the Biden administration could do anything more to cripple the U.S. fossil fuel industry, the answer is yes. The Environmental Protection Agency is considering an “ozone violation designation” for portions of the Permian Basin, the largest oil field in the United States, according to Bloomberg news. The Permian Basin […]
Major US companies pledge to cover travel costs for employees who need an abortion
After the Supreme Court ruled on Friday to overturn Roe v. Wade, corporate giants from a range of industries pledged to provide support and financial assistance for employees — and, in some cases, their dependents — seeking abortions in states that outlaw the procedure. Millions of people seeking abortions could soon be forced to travel […]
Biden asks Congress to pause gas tax
President Biden will ask Congress on Wednesday to suspend the federal gas tax until September as Americans across the country grapple with soaring prices as the pump. The president will urge members of Congress to institute a three-month federal gas tax holiday without stripping money from the Highway Trust Fund that finances highways and mass […]
US ban on imports from China’s Xinjiang region started
Tough new US regulations on the import of goods from the Xinjiang region of China have come into effect. Under the rules, firms have to prove imports from the region are not produced using forced labour. US officials have said members of the minority Uyghur community in the region, who are predominantly Muslim, have been […]
Consumers are buying less and switching to store brands
Decades-high inflation is changing US consumers’ grocery habits. Kroger, the nation’s largest grocery store chain, said Thursday that budget-constrained shoppers were buying fewer items in stores, favoring Kroger’s cheaper store brands instead of name brands, and switching from beef to pork.“Rising inflation has consumers rethinking their shopping and eating habits,” Kroger (KR) CEO Rodney McMullen […]
Most Americans believe economy is now collapsing
More than half of Americans think the U.S. has already entered a recession, new polling shows. The latest IBD/TIPP Economic Optimism Index published on Friday found that 53 percent of Americans think the economy has gone into a recession, and 25 percent say they’re unsure. Only 20 percent believe the country is not in a […]
‘Almighty Crash’ imminent says top US Stock Broker
As inflation continues, the U.S. is heading towards a massive economic crash, according to stockbroker Peter Schiff. Schiff, who is the chief economist and global strategist of Euro Pacific Capital, took to Twitter on Thursday to voice his predictions for the U.S. economy. Many people have finally [given up] on the idea of a soft […]
Gas Pains! Biden shifts blame from Putin to Oil Companies
The White House on Wednesday shifted from blaming Russian President Vladimir Putin’s invasion of Ukraine to oil companies for record-high gas prices, calling on them to “be patriots” and do more to lower prices. The remarks came after President Biden on Wednesday called on U.S. oil refiners to produce more gasoline and diesel, saying their […]