Economy Archives - Page 32 of 58

Inflation Sees Food Prices Soar to Record High in Germany

Inflation in Germany has seen food prices soar to the highest level on record in July, according to the country’s statistical agency. The food inflation comes despite the overall pace of price growth easing slightly. On Wednesday, Destatis, Germany’s Federal Statistical Office, said that food prices jumped by 14.8 percent…

Number of Homes for Sale Across US Soars

The number of homes listed for sale across the United States has soared to a record high in July, according to reports. A new report published by Realtor.com on Tuesday signals that higher mortgage rates and soaring prices are decreasing consumer demand for housing. The growing number of homes for…

China Locks Down World’s Largest Wholesale Port, Threatening Global Supply Chain Disruption

The Chinese Communist Party (CCP) has locked down the port of Yiwu City in East China, the world's largest wholesale hub, according to reports. China placed Yiwu, a city of 1.85 million people, under lockdown in response to a new outbreak of COVID-19. Meanwhile, the CCP has also placed the…

Fuel Price Hike Triggers Large Protests at Gas Stations in Bangladesh

The government in Bangladesh has just hiked fuel prices by a record 51.2 percent, triggering widespread protests at gas stations across the South Asian country. Protests erupted following the decision, with thousands of people thronging gas stations before the increase went into effect. The price of gasoline increased to 130…

The Story Behind Federal Government’s July Jobs Report

Democrat President Joe Biden is celebrating the better-than-expected July jobs report, calling it “the result of my economic plan to build the economy from the bottom up and middle out.” The White House had initially anticipated a lower figure ahead of the report's Friday release. However, the Biden administration…

Twitter Announces Security Flaw, 5.4 Million Accounts Exposed

Social media giant Twitter has announced a widespread security flaw that has exposed 5.4 million users' accounts. On August 5, Twitter announced that it found a security flaw in its system that enabled a threat actor to learn whether a phone number or an email address was associated with an…

White House: Americans Who Think We’re in a Recession Are Actually Just Confused

Americans who believe that the United States is in a recession are just confused, according to White House economic adviser Jared Bernstein. Bernstein claims that Americans who think the country has fallen into a recession are basically confused about the source of their economic pain. The top economic adviser to…

Fed’s Neel Kashkari Claims Inflation May Still Be Transitory

Minneapolis Federal Bank President Neel Kashkari has claimed that inflation may still be transitory. The next Federal Open Market Committee (FOMC) policy meeting is more than a month away. However, U.S. central bank officials are providing insights into the Federal Reserve’s plans, inflation, and the broader economy. On Wednesday,…

Pilot Complaints of Fatigue Increase Tenfold as Airlines Push to Recoup Lost Revenue, Expert Warns

The number of airline pilots complaining of fatigue increased tenfold in June, an industry expert has warned. According to Allied Pilots Association Communications Chair Dennis Tajer, the increasing complaints come as airlines across the United States work to make up for lost revenue during the COVID-19 pandemic. Allied Pilots Association…

Gas Price Falls for 7th Straight Week but It May Exceed $5 Again Soon, Experts Warn

Gas prices have fallen again for a seventh consecutive week, providing Americans with some welcome relief at the pump. However, experts are now warning that prices could rise above $5 again this summer amid fears of a recession. On Monday , the national average for a gallon of gas fell…