Economy Archives - Page 16 of 58

Recession Fears Increase, despite Major Banks Beating Earnings Forecasts

Recession fears are beginning to mount in the United States, despite most major American banks beating their earnings forecasts. JPMorgan Chase, Bank of America, Citigroup, and asset management giant BlackRock all reported positive forecasts on Friday. However, the positive news still left many investors disappointed. As higher interest rates boosted…

Australia and Papua New Guinea Agree to Bilateral Security Treaty to Secure Region

Australia and its closest geographical neighbor Papua New Guinea (PNG) have agreed to a historic Bilateral Security Treaty (BST). The move entwines both countries to each other and helps better secure the region. The union comes amid increasing aggression from China in recent years. Australian Prime Minister Anthony Albanese and…

Republican Rep Ken Buck Takes Aim at Big Tech’s Censorship, Anti-Competitive Practices

Republican Rep. Ken Buck (R-CO) has called out Big Tech for abuses of power, specifically censorship and anti-competitive practices. Buck took aim at Silicon Valley during an address this week, singling out Google as the “greatest threat to speech in the market.” The congressman has put forth a bill in…

All U.S Flights Grounded over FAA Computer Glitch, White House Investigating

The White House says it is investigating the Federal Aviation Administration (FAA) computer glitch that has caused all flights across the country to be grounded. Operations in the United States are now finally starting to resume after all flights were grounded. “Normal air traffic operations are resuming gradually across the…

American Airlines to Drop Services in 3 Cities amid Reduced Demand and Pilot Shortage

American Airlines is dropping service in three cities starting this Spring because of reduced demand and an ongoing pilot shortage. “In response to the regional pilot shortage affecting the airline industry and soft demand, American Airlines has made the difficult decision to end service in Columbus, Georgia (CSG), Del Rio,…

Is the Fed Trying to Wean Markets Off Monetary Policy?

Is the Fed trying to wean the markets off monetary policy? Such was an interesting premise from former British diplomat Alastair Crooke via the Strategic Culture Foundation, to wit: “The Fed however, may be attempting to implement a contrarian, controlled demolition of the U.S. bubble-economy through interest rate increases. The rate…

Biden Admin Admits Keystone Cancelation Cost Tens of Thousands of U.S Jobs

The Biden administration has admitted that the cancelation of the Keystone XL Pipeline has cost tens of thousands of jobs in the United States. The Biden admin released a congressionally required report on the impact on jobs of the president’s decision to cancel the Keystone XL Pipeline. The report reveals…

Bed Bath & Beyond Shares Plummet as Company Says ‘Substantial Doubt’ It Can Continue

American retail chain Bed Bath & Beyond has seen its share prices plummet this week after the company revealed it has “substantial doubt” that it will be able to continue. Shares of Bed Bath & Beyond dropped drastically on Thursday after the company warned it is considering bankruptcy. In a…

FTX’s Sam Bankman-Fried Pleads Not Guilty in Federal Fraud Case

Sam Bankman-Fried, the founder and former CEO of bankrupt cryptocurrency exchange FTX, pleaded not guilty to the charges against him in a federal court Tuesday. Bankman-Fried has been hit with federal charges of fraud, conspiracy, campaign finance law violations, and money laundering. 30-year-old Bankman-Fried entered his plea via his lawyer…

Democrats Push for Referendum on Puerto Rico Statehood

Congressional Democrats are pushing for a referendum to vote on giving the unincorporated U.S. territory of Puerto Rico statehood. Led by Rep. Raúl Grijalva (D-AZ), the U.S. House of Representatives passed the “Puerto Rico Status Act” in mid-December. While mostly symbolic, the bill could be brought up again in the new…