Economy Archives - Page 27 of 58

Recession Fears Mount as Key Economic Gauge Drops for 6th Month Straight

Fears of a recession in the United States are fiercely mounting as one of the key economic indicators has recorded a drop for the sixth month straight. America’s recessionary signals intensified in August as a key economic gauge from the Conference Board dropped again. The Federal Reserve's aggressive rate hikes…

SEC Fines Boeing $200 Million for Misleading Investors on 737 MAX Safety Inspections

The U.S. Securities and Exchange Commission (SEC) has fined American multinational aerospace company Boeing $200 million for misleading investors. Boeing announced that it had reached a settlement with the SEC after allegations that it deceived its own investors and the public about the safety of its best-selling 737 MAX jetliner. The…

House Committee Hears Biden’s ‘Bizarre’ Take on How Prices Work: ‘White House Now Measuring Inflation in Inches’

Lawmakers have tried to dissect Democrat President Joe Biden's "bizarre" take on how prices work during a House Oversight Committee hearing. The blowback from Biden’s weekend remarks about prices rising “just an inch, hardly at all” continued during the week. During a session on Sept. 22 on corporate profiteering, the…

Russia Edges Closer to Using Bitcoin for International Trade

The Russian government has drafted new legislation that edges the embattled nation one step closer to accepting Bitcoin and other cryptocurrencies for international trade. According to a report from Russian news outlet Tass, Russia's Ministry of Finance and its central bank have agreed on a draft bill allowing crypto payments…

UK Announces Biggest Tax Cuts in 50 Years to Boost Growth amid Economic Crisis

British Prime Minister Liz Truss’s new Conservative Party government has unveiled the biggest package of tax cuts in 50 years as the country seeks to tackle the economic crisis by boosting growth. The new budget is aimed at spurring growth in the UK economy, which may already be in recession.…

Powell Vows to Crush Demand, Dent Job Market, Warns No ‘Painless’ Way to Tame Inflation

Federal Reserve Chair Jerome Powell has laid out a grim gameplan as he vows to crush demand and hurt the job market in an effort to tame inflation. Powell sent a stark message to markets following the decision to hike rates by another 75 basis points. The U.S. central bank…

British PM Truss: Tax Cuts Benefit Everyone by Making UK Economy More Competitive

British Prime Minister Liz Truss has declared that her tax-cutting plans will make the UK economy stronger. While speaking to reporters from the Empire State Building in New York on Tuesday, Truss said the tax cuts will more the country more successful and benefit the population in general. Truss confirmed…

Cargo Ship Shortage Impacting Energy Prices

A shortage of cargo ships is fueling soaring energy prices around the world, according to a new report. Europe is already suffering a widespread energy crisis and the continent prepares for a potentially cold and dark winter. The European energy crisis and the resultant higher demand for cargo ships to…

Federal Trade Commission Warns Companies Are Tricking Consumers with Sophisticated ‘Dark Patterns’

The Federal Trade Commission (FTC) has released a report warning that major companies are using sophisticated "dark patterns" in their advertising to trick consumers. On Thursday, the FTC revealed that companies are deploying the deceptive advertising tactics to entice potential customers, manipulate them into making purchases, and give up their…

Court Rules against Big Tech Companies in Free Speech Censorship Battle

A federal appeals court has ruled in favor of a Texas law that seeks to rein in the power of Big Tech companies like Facebook and Twitter to censor free speech. The decision by the 5th U.S. Circuit Court of Appeals in New Orleans (pdf), handed down on Sept. 16,…