Economy Archives - Page 37 of 59

Consumer Confidence Hits Record Low as Americans Become Deeply Pessimistic about Economy

Americans have never been this pessimistic about the economy, with consumer confidence now hitting record lows, according to new data. As soaring inflation erodes household purchasing power and threatens a cost-of-living crisis, the University of Michigan's consumer confidence index has plunged to a record low. In May, the Michigan consumer…

45 Housing Markets Have ‘Probability of Price Decline,’ Research Firm Warns

Several housing markets across the United States have the "probability of a price decline" over the next year, a research firm is warning. According to data by researchers at CoreLogic, prices are poised to fall in 45 of the 392 U.S. housing markets that the firm analyzed. The news comes…

Who Is to Blame for Travel Chaos as Thousands of Flights Are Canceled?

Americans are suffering from travel chaos this summer as thousands of flights are being canceled across the country. Airlines are blaming staffing shortages as thousands more flights were canceled this week. The chaos comes as Americans return to traveling in droves this year. However, airlines and the federal government are…

FedEx to Start Taking Photos of Packages on Doorsteps for Proof of Delivery

Courier company FedEx will begin taking photographs of packages on doorsteps across North America to provide proof of delivery. The move makes the company the first nationwide carrier to do so in the United States and Canada. Announcing in a Wednesday press release, FedEx said the new protocol is part…

Deutsche Bank Officials Warn Growing Inflation, Rising Interest Rates Make Recession More Likely

Deutsche Bank's top U.S. economists are warning that growing inflation and rising interest rates are making a recession increasingly more likely. Speaking during a Tuesday interview with CNBC, Deutsche Bank CEO Christian Sewing noted that Western economies in Europe and the United States are facing a greater likelihood of recession…

Get Woke, Go Broke: Kellogg’s Breaking Up after Years of Falling Sales

Kellogg's, the maker of Frosted Flakes and Rice Krispies, will split into three companies focused on cereals, snacks, and plant-based foods. The Kellogg Company, one of the original perpetrators of "woke capitalism," made the surprise announcement on Tuesday following years of falling sales. The company will split into three publicly-traded…

Elon Musk: ‘Significant’ Issues Holding Back Twitter Deal

Tech entrepreneur Elon Musk says there are several "significant" unresolved matters that are holding back his bid to buy Twitter. The issues include the coming together of the debt part of the transaction, the outcome of a shareholder vote, and the number of spam users on the platform. Musk, who…

Germany’s Producer Price Soars to Record High as Inflation Raises Production Costs

Germany’s producer prices hit a record high in May as soaring energy costs and inflation continue to push production costs through the roof. The latest figures suggest households in Europe’s biggest economy should brace for even higher consumer price inflation. At least a portion of higher business costs tends to…

Ex-Obama Economic Advisor Larry Summers Warns ‘Recession Is Ahead’

Larry Summers, the former economic advisor and Treasury Secretary in Barack Obama's administration, has warned that Democrat President Joe Biden is leading America toward "a recession." Summers warns that previous periods of high inflation and unemployment, like the one we are currently in, have led to recessions within a “year…

Elon Musk Calls Out TikTok over Risk to ‘Civilization’

Tech entrepreneur Elon Musk is questioning whether the Chinese Communist Party-linked short video app TikTok is leading to the collapse of civilization. Musk mused about the platform following a new report that alleged China-owned TikTok had obtained private U.S. user data. “Is TikTok destroying civilization?” the billionaire said via Twitter.…