Economy Archives - Page 14 of 58

Biden’s Economy Lost 2.5 Million Jobs in January, despite Media Claims of 517,000 ‘Gain’

The United States economy suffered a whopping 2.5 million job losses in January despite efforts by the corporate media to try to spin the numbers in Democrat President Joe Biden's favor. The mainstream media praised Biden's economy while cheering employment figures showing that the U.S. saw a "gain" of 517,000…

Musk Didn’t Defraud Investors with 2018 Tesla Tweets, Jury Finds

A jury has decided that Elon Musk did not defraud investors with tweets about his electric automaker Tesla in 2018. The proposed deal Musk tweeted about quickly unraveled and raised questions about whether the billionaire had misled investors. On Friday, the nine-member jury reached its verdict after less than two…

American Firms Are Investing Billions in Chinese AI, Report Shows

American companies are heavily bankrolling the Chinese artificial intelligence (AI) sector, according to a new report. Between 2015 and 2021, U.S. firms were involved in at least 37 percent of the total investment transactions in China’s AI industry. The investments were revealed in a new report (pdf) published by the…

Job Openings Rose Unexpectedly in December, Demand for Tech Workers Fell

The jobs market increased at the end of last to beat expectations, according to the latest data from the Bureau of Labor Statistics (BLS). Job openings increased to 11 million in December, up from 10.5 million the previous month. Meanwhile, the number of quits declined slightly, to 4.1 million, down from…

Republicans Push for Stricter Controls on Exports to China

Republicans are pushing for stricter controls on exports to China, citing lax enforcement of current measures. Rep. Michael McCaul (R-TX), the new chairman of the House Foreign Affairs Committee, warns that the Chinese military could easily access sensitive technologies without better protections. On January 13, McCaul sent a letter (pdf)…

Pfizer Rakes in Biggest Profits in Company’s History Thanks to Billions from Covid Vaccine Sales

Pharmaceutical giant Pfizer has just recorded the highest revenue in the company's history thanks to the billions of dollars in profit it's raking in from COVID-19 vaccines. Covid products account for a large chunk of the vaccine maker's sales and secured Pfizer's record revenues for 2022. The record profits are…

New IRS Tax Rules Are a ‘Double Whammy’ for Families, Experts Warn

The new tax rules implemented by the Internal Revenue Service (IRS) could place a strain on some families hoping for an expanded child tax credit, experts are warning. The IRS has issued several press releases to warn about potentially lower tax refunds this filing season. However, some analysts say the…

IRS: Millions of Americans Don’t Realize They Are Eligible for Tax Credit

Millions of Americans don't realize that they are eligible for a tax credit, the Internal Revenue Service (IRS) has revealed. The IRS has issued a reminder regarding a tax credit that last year averaged over $2,000. However, roughly 20 percent of those entitled to the money didn’t claim it. “This…

House Votes to Limit Strategic Petroleum Reserve Release, against Biden Admin’s Wishes

The Republican-controlled House of Representatives has passed a bill to limit the ability of President Joe Biden's administration to release America's oil stockpile. After a lengthy debate over numerous amendments, the House passed the bill on Friday, against the Biden admin's wishes. The move to protect the Strategic Petroleum Reserve…

Google Is Curating Data for AI, Whistleblower Claims

Big Tech giant Google is curating data that artificial intelligence (AI) uses to learn, a whistleblower has claimed. The whistleblower, former Google employee Zach Vorhies, warns that Big Tech can bias the AI to censor information flowing on the Internet. Vorhies said he became concerned about how the company was…