America’s employers added 428,000 jobs in April, extending a streak of solid hiring that has defied punishing inflation, chronic supply shortages, the Russian war against Ukraine and much higher borrowing costs. Friday’s jobs report from the Labor Department showed that last month’s hiring kept the unemployment rate at 3.6%, just… Read More
Stocks plummet amid economic anxiety
Stocks are slumping on Wall Street, erasing a rally from a day earlier, as markets assess the looming fallout from the Federal Reserve’s stepped-up fight against inflation. On Wednesday, the Fed raised its benchmark interest rate by half a percentage point as part of an effort to slow consumer borrowing… Read More
Fed raises key rate by 0.5% to fight inflation
The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark interest rate by a half-percentage point Wednesday — its most aggressive move since 2000 — and signaling further large rate hikes to come. The increase in the Fed’s key short-term rate raised it… Read More
Ka-ching! Nancy Pelosi just tried to cash in. Big.
House Speaker Nancy Pelosi, D-Calif., has a knack for cashing in at Congress. Critics have speculated that Pelosi and her husband have regularly engaged in insider trading by using her insider knowledge for huge investment profits — while avoiding potential losses. Sponsored: These 3 breakfast items do WHAT to the… Read More
Report: Hungary won’t support banning Russian oil
Hungary’s foreign minister says the country won’t support a European Union proposal for banning oil imports from Russia in a move that could derail the bloc’s efforts to apply united pressure against Moscow over its war in Ukraine. In a video on social media, Hungarian Foreign Minister Peter Szijjarto said… Read More
Biden’s money message for his critics
President Joe Biden on Wednesday highlighted new figures showing the government’s red ink will grow less than expected this year and the national debt will shrink this quarter as he tried to counter criticism of his economic leadership amid growing dismay over inflation going into midterm elections that will decide… Read More
Elon Musk asked to testify about Twitter
A British parliamentary committee scrutinizing draft online safety legislation has invited Elon Musk to discuss his plans to buy Twitter and the changes he’s proposing for the social media platform. Parliament’s digital committee asked the Tesla CEO on Wednesday to give evidence about his proposals “in more depth.” Should seniors… Read More
Biden suddenly cares about ‘fiscal responsibility’
Despite rampant inflation that has been increased by rampant government spending, President Joe Biden plans to highlight deficit reduction in remarks Wednesday at the White House. He will note that the government will pay down the national debt this quarter for the first time in six years. Biden plans to… Read More
Billionaires battle: Bezos hits Musk
Elon Musk’s purchase of Twitter did more than just shake up the world of social media. It also reignited a long-simmering feud between billionaires as Amazon.com founder Jeff Bezos asked a question suggesting Musk might be compromised by China. Bezos shared a tweet from New York Times reporter Mike Forsythe,… Read More
New pipeline may ease supply of Russian gas
Mountainous and remote, the Greek-Bulgaria border once formed the southern corner of the Iron Curtain. Today, it’s where the European Union is redrawing the region’s energy map to ease its heavy reliance on Russian natural gas. A new pipeline — built during the COVID-19 pandemic, tested and due to start… Read More
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