Economy Archives - Page 24 of 58

Commercial Barge Lines Struggle as Water Levels Plummet in Drought-Stricken Mississippi River

Water levels in the Mississippi River and continuing to plummet amid drought-stricken conditions, causing major problems for commercial barges that use the waterways. Jeff Worsham is a realist regarding the weather because he believes what he sees. That the regional drought is a bad one, getting worse, is beyond dispute.…

RNC Sues Google for ‘Censorship’ of Republican Emails

The Republican National Committee (RNC) has filed a lawsuit against Big Tech giant Google for the "censorship" of its campaign emails. Google has been increasingly under fire for allegations that its algorithms unfairly target conservative content. The RNC is now taking legal action against Google for allegedly routing the organization’s…

US Housing Recession Deepens as Existing Home Sales Fall to 10-Year Low

As the U.S. housing recession worsens, existing home sales have fallen to their slowest pace in 10 years, according to reports. With the exception of the first few months of the pandemic, home sales have now slowed to levels not seen since September 2012. Sales of homes are 23.8 percent…

Elon Musk Confirms Tesla to Build Lithium Refinery in Texas

Tesla CEO Elon Musk has confirmed that the electric vehicle company is pressing ahead with plans to build a lithium refinery in Texas. The move aims to boost domestic production of the key commodity used in electric vehicle batteries. Musk made the remarks during a Tesla earnings call on Wednesday.…

Jeff Bezos Issues Grim Warning on the Economy: ‘Batten Down the Hatches’

Amazon founder Jeff Bezos has issued a grim warning about where the economy is heading. Despite denials from the Biden administration, the United States economy has met the rule-of-thumb definition of a recession - two consecutive quarters of negative growth. The economy contracted at a 1.6% annualized rate in the first…

Pelosi Admits Biden’s Policies Partly Caused Inflation

House Speaker Nancy Pelosi (D-CA) has admitted that President Joe Biden's policies are partly responsible for America's red-hot inflation. On Tuesday, Pelosi admitted that part of what’s behind the sky-high inflation is Biden’s policies on job creation. Pelosi made the admission during Tuesday's broadcast of MSNBC’s “Andrea Mitchell Reports.” The…

EU Considers Paying for Elon Musk’s Starlink Internet for Ukraine

The European Union is considering plans to pay for Elon Musk's Starlink to continue providing Internet access for Ukraine, according to reports. A Lithuanian official reportedly told Politico that EU countries are now discussing covering the costs. The news comes as Elon Musk’s aerospace company SpaceX continues to pay for…

Elon Musk: Starlink Adding Donation Feature after Ukraine Funding Controversy

Tech entrepreneur Elon Musk has announced that SpaceX would be rolling out a feature to let people donate Starlink satellite internet units to places in need. The move comes after Musk said that the aerospace company could no longer continue to fund Starlink in Ukraine “indefinitely.” In a Monday post…

General Motors Secures LandMark Deal with Australian Critical Minerals Company

Automotive giant General Motors (GM) has signed a landmark deal with an Australian critical minerals company. The agreement will secure the future production and supply of critical minerals for batteries used in electric vehicles (EVs). The deal is critical to secure “all battery raw material to support GM’s goal of…

IMF: Higher Inflation Requires ‘More’ Monetary Policy Tightening in Asia

The International Monetary Fund (IMF) has warned that Asia’s central banks must tighten monetary policy further to ensure that inflation returns to target levels. The warning from the IMF comes as currencies across the region weaken. The director of the IMF’s Asia and Pacific Department, Krishna Srinivasan, said that a…