President Biden made a renewed push on Monday to galvanize congressional Democrats to overhaul the nation’s tax code and dramatically raise rates on corporations and ultra-wealthy Americans. The president laid out the tax hikes as part of his $5.8 trillion budget blueprint for federal spending in fiscal 2023, which begins in October. Under his proposal, […]
Before the Ukraine conflict, farmers across the world were struggling to buy enough fertilizers, some of which more than doubled in price last year. Higher natural-gas prices hampered production of the ammonia needed for nitrogen fertilizers, while power outages at Chinese fertilizer plants and Hurricane Ida in the U.S. curtailed global production. War in Ukraine […]
Crude prices posted double-digit weekly gains and closed at their highest in at least nine years after the White House said it was considering a ban on Russian oil imports, adding to the worries of a market already hyped up about sanctions on one of the world’s largest energy exporters. The escalating war in Ukraine […]
Global crude oil prices surged to more than $110 per barrel and the cost of natural gas skyrocketed to a new record in Europe on Wednesday as Russia’s escalating military campaign in Ukraine stoked fear in markets about a supply shock. Brent crude futures, the global benchmark, jumped nearly 7% to $111 per barrel at […]
Russia’s central bank has issued an appeal for calm amid fears that new financial sanctions could spark a run on its banks. It said it “has the necessary resources and tools to maintain financial stability and ensure the operational continuity of the financial sector”. The EU, the US, the UK and Canada have announced […]
Krystal Guerra’s Miami apartment has a tiny kitchen, cracked tiles, warped cabinets, no dishwasher and hardly any storage space. But Guerra was fine with the apartment’s shortcomings. It was all part of being a 32-year-old graduate student in South Florida, she reasoned, and she was happy to live there for a few more years as […]
Consumer prices rose 7.5 percent annually by the end of January, according to data released Thursday by the Labor Department, the fastest rate since February 1982. The Labor Department’s consumer price index (CPI), which tracks inflation, rose on an annual basis for the sixth consecutive month and above the 7.2 percent increase projected by a […]
The U.S. gained 467,000 jobs in January despite fears the economy lost jobs amid the omicron-driven surge of COVID-19 cases, the Labor Department reported Friday. While the unemployment rate ticked up slightly to 4 percent, January job growth far exceeded the expectations of many economists, who feared the U.S. would lose jobs last month for […]
The number and percentage of U.S. workers voluntarily leaving their jobs reached an all-time high in September, according to data released Friday by the Labor Department. Roughly 4.4 million U.S. workers quit their jobs in September and the “quits rate” rose to 3 percent, according to the latest edition of the Job Openings and Labor […]
Inflation isn’t going anywhere fast — but prices certainly are. The latest Consumer Price Index for October recorded a 6.2 percent increase, year over year, according to data released Wednesday by the Bureau of Labor Statistics. It’s the largest increase in over 30 years and far outpaced economists’ expectations of a 5.9 percent spike. October’s […]
Sen. Ted Cruz (R-Texas) reacted to news of millions of Americans losing their unemployment benefits over the weekend by suggesting out-of-work people should “get a job.” In a tweet sent late Monday night, Cruz shared with his followers a headline from the Associated Press reading “Jobless Americans have few options as benefits expire.” “Um, get […]
The U.S. economy gained 850,000 jobs in June and the unemployment rate rose to 5.9 percent, from 5.8 percent, a sign that the recovery of the world’s largest economy is building momentum after misses in April and May. Economists had expected gains of roughly 700,000 jobs and a drop of 0.1 to 0.2 percent in […]
