Economy Archives - Page 29 of 58

Fed May Require 7.5 Percent Unemployment to Lower Inflation

The U.S. Federal Reserve may require the American unemployment rate to rise to almost double its current level in order to control high inflation, a new report has suggested. According to a team of researchers from the International Monetary Fund (IMF), huge job losses may be necessary to bring inflation…

How to Invest Money during a Recession

With the United States currently being gripped by a recession, many are wondering how they can still invest their money amid the economic downturn. The American economy fell into a technical recession following back-to-back quarters of negative GDP growth in the first half of 2022. The negative growth has come…

Bed Bath & Beyond CFO Hit with Investor Lawsuit before Suicide

The CFO and executive VP of retailer Bed Bath & Beyond (BBBY), Gustavo Arnal, was hit with a huge lawsuit from investors shortly before he committed suicide last week. Arnal died on September 2 by jumping to his death from his TriBeCa apartment known as the “Jenga Building” in lower…

CERN May Be Forced to Shut Down Large Hadron Collider Due to European Energy Crisis

The European Organization for Nuclear Research (CERN) maybe be forced to shut down its famous Large Hadron Collider (LHC) in Switzerland due to the growing energy crisis in Europe. CERN is already planning to shut down some of its particle accelerators amid the energy crisis in France. CERN, located near…

East Timor Uses China as Bargaining Chip during Energy Negotiations with Australia

East Timor is using China as a bargaining chip in negotiations with Australia's government over the construction of a gas pipeline from the resource-heavy Timor Sea. The Southeast Asian nation's President Jose Ramas-Horta said his country would be happy to enlist China’s help to facilitate the development of the pipeline.…

Judge Backs Biden, Rules in Favor of Wyoming Oil Lease Pause

A federal judge has sided with Democrat President Joe Biden's administration and ruled in favor of the government halting oil and gas leases in the state of Wyoming. On Jan. 27, 2021, President Joe Biden issued an executive order instructing the Department of the Interior (DOI) to temporarily pause all…

Shortage of Fracking Equipment Is Slowing US Shale Oil Output amid Energy Crisis

Fracking companies are reporting that shortages in hydrofracking equipment are causing shale oil output to slow down. Demand for fracking equipment has been quickly outpacing supply as the world battles a global energy crisis. The lack of gear is now hampering the expansion of U.S. oil and gas production. Halliburton…

Just 1% of Americans Describe Biden’s Economy as ‘Excellent’ Ahead of Midterms, Poll Shows

Just 1 percent of American voters describe the economy under Democrat President Joe Biden as “excellent,” a new poll has revealed. While 1% of registered U.S. voters said the economy is "excellent," the figure dropped to zero when the survey took into account the opinion of all adult Americans. The…

Exxon Takes Legal Action over Putin Blocking Exit from Russia

ExxonMobil is taking legal action against Russia after President Vladimir Putin blocked the Texas-based fossil fuel company from leaving the country. Exxon has taken preliminary steps to sue the Russian government after Putin intervened to block the corporation’s exit from his country. The Wall Street Journal reported on Tuesday that…

Russia Halts Gas Flows to Europe, Germany Claims ‘No Cause for Alarm’ Yet

Russia has halted gas supplies to Europe via a key European supply route citing maintenance issues, according to reports. Some European countries have warned that the move by the Russian government is retaliation for backing Ukraine in the war. The news of the supply suspension has also sent prices on…