Economy Archives - Page 23 of 56

JPMorgan CEO Issues Dire Warning on U.S Economy: ‘Very, Very Serious’

The CEO of America's largest bank, JPMorgan Chase & Co., has issued a dire warning about where the U.S. economy is heading. During a new interview with CNBC reporter Julianna Tatelbaum in London, Jamie Dimon warned that America is on track for a "very, very serious" economic crisis. Dimon warned…

Over 50% of World’s Poorest Need Urgent Relief as Serious Debt Crisis Unfolds, UNDP Warns

Over 50 percent of the world's poorest people are in need of urgent relief amid a mounting serious debt crisis, the United Nations Development Programme (UNDP) has warned. On Tuesday, the UNDP warned that the looming debt crisis could have disastrous effects on the world’s poorest. In a new report…

Gas Prices Continue to Rise, Diesel Back Above $5 as ‘Ugly Inflation’ Returns

Gas prices are on the rise again in the United States as “ugly” inflation returns. While gas prices are rising, diesel is now back up over $5. The hikes come after months of volatility and are expected to increase further over the next few weeks, industry experts have said. In…

Top Economist Dooms Biden, Warns ‘Totally Avoidable’ Recession Ahead

Renowned economist Mohamed El-Erian has doomed Democrat President Joe Biden, warning that America is heading for a recession that was "totally avoidable." El-Erian, the chief economic adviser for multinational financial services company Allianz, hammered Biden's handling of inflation during an appearance on CBS’s “Face the Nation.” “I fear that we…

South Africa May Start Taking Land from White Farmers without Compensation

South Africa may start confiscating land from white farmers without giving them compensation, according to reports. South Africa’s National Assembly passed a bill on September 28 that would allow the government to seize land without paying the owners. The practice is known as "expropriation without compensation." “This thing is emotional.…

IMF Chief Warns World Heading Toward ‘Dangerous New Normal’

The head of the International Monetary Fund (IMF) has warned that the world is heading toward a "dangerous new normal." Kristalina Georgieva, managing director of the IMF, warns that the world is facing the risk of a recession, with the global economy experiencing a “fundamental shift." Georgieva made the comments…

Biden Releases More Oil after OPEC Slashes Output

The Biden administration has moved to release more domestic oil after the Saudi Arabia-led Organization of the Petroleum Exporting Countries (OPEC) and its allies surprised global energy markets on Wednesday by agreeing to slash crude production by 2 million barrels per day (BPD). The oil cartel thought it was necessary…

Louisiana Pulls Treasury Funds from BlackRock, Warns ESG Investing Threatens ‘Economic Freedom and Individual Liberty’

The state of Louisiana is divesting its treasury funds from Larry Fink's investment company BlackRock. Louisiana's Republican state treasurer John Schroder issued a warning that BlackRock's "woke" Environmental, Social, and Corporate Governance (ESG) investing threatens Americans' "economic freedom and individual liberty." In a letter to World Economic Forum member Fink, BlackRock's…

$453 Billion in Value Wiped from New York Offices Due to Remote Work

An estimated $453 billion in value has been wiped from offices in New York City due, in part, to the rise of remote work, a new study has found. The hit was discovered during a study by the National Bureau of Economic Research (NBER) which was conducted by researchers at…

Tesla Shares Dip as Vehicle Deliveries Fall Short in Q3

Tesla shares have fallen on news that the electric automaker failed to meet its target for vehicle deliveries in the third quarter. Deliveries of Tesla vehicles fell short despite setting a new record. Tesla revealed the figures in a report published by the company over the weekend. The electric vehicle…