In November, wholesale prices skyrocketed at their fastest annual pace on record. The rise is the lastest inflation-related datapoint adding to broader concerns about the persistence of elevated prices as higher input costs for producers tend to trickle down to consumers. The Labor Department said in a Dec. 14 statement…
The Central Economic Work Conference, the Chinese Communist Party’s annual event where top officials discuss economic priorities for the next year, concluded on Dec. 10. The meeting was highly anticipated as China faces significant economic headwinds going into 2022. The phrase “stability” emerged as the key theme of this meeting,…
The world's richest man, Elon Musk, says he’s considering "quitting" his jobs "and becoming an influencer." “Thinking of quitting my jobs & becoming an influencer full-time wdyt,” Musk, the chief executive officer (CEO) of Tesla Inc. and SpaceX, said in the Twitter post, without elaborating. It was not immediately clear…
London’s Heathrow Airport said that renewed travel restrictions made on the discovery of the Omicron COVID-19 variant is stoking fears among passengers, especially business travelers, who worry they won’t be able to get back home. According to the latest figures published Friday, the demand for air travel, which had started…
A former U.S ambassador has called on top American advertisers to boycott the Winter Olympic games in Beijing over the Chinese Communist Party's many human rights abuses. Olympic sponsors should “listen to their hearts”—not dollars—and stand up to boycott the upcoming Beijing Winter Olympics, said Sam Brownback, former U.S. Ambassador-at-Large…
The U.S. Postal Service (USPS) has revealed in its latest forecasts that it is preparing to process, ship, and deliver billions of items this Christmas. According to the independent government agency, 12 billion letters, cards, and packages will be sent across the country this holiday season, with more than two-thirds…
The Chinese Communist Party’s central bank has announced it will cut the amount of cash that banks must hold in reserve, according to reports. The move will unlock $188 billion in long-term liquidity to shore up slowing economic growth. The People’s Bank of China (PBOC) said on its website on Dec.…
The North Carolina Senate has passed a bill that seeks to ban private funding of state and county election boards. The push for Senate Bill 724, also known as “Zuck Bucks,” came from what some have described as a record amount of private funds flooding into the 2020 election. If…
Democrat President Joe Biden's Treasury Secretary Janet Yellen has warned that policymakers must stop using the term “transitory” when describing high levels of inflation. However, "transitory inflation" is a position that many investors have been holding for several months. The Department of Labor's most recent inflation data indicates that consumer prices are…
Employers in the United States only added a paltry 210,000 jobs in November, sharply below consensus forecasts of 550,000. The number is more than half as many as in October. The underwhelming job creation numbers triggered Wall Street stock futures to shoot up, as investors bet it would ease pressure…