Economy Archives - Page 40 of 58

Report Reveals Inflation’s Growing Impact on Dining Habits

Soaring inflation is having a direct impact on people's dining habits, a new report has revealed. The report, from marketing insights firm Acosta, shows that consumers are feeling the bite of inflation. People are responding by dining out less or choosing more affordable restaurants and meal options. In its foodservice-specific…

Gas Price Jumps 33 Cents in 2 Weeks, Analysts Warn of $6 per Gallon by August

As the average gas price continues to soar in the United States, analysts are now warning that Americans could be paying $6 per gallon by August. According to the Lundberg Survey, the average price of regular-grade gasoline spiked 33 cents over the past two weeks to $4.71 per gallon. On…

Apple Projects Billions in Lost Revenue over Supply Constraints from China Due to Lockdowns

Apple is projecting billions in lost revenue to the supply constraints placed on the company during strict lockdowns in China. The Chinese Communist Party’s strict COVID-19 control policies have significantly limited Apple’s consumer product output, according to one of its suppliers. In April, Apple predicted that supply constraints would cost the…

Russia Shuts Down All Gas Exports to Finland

Russia has shut down all gas exports to neighboring Finland after the Nordic country refused to pay for Russian gas supplies in roubles. The Russian government announced the cut-off on Saturday, just days after Finland announced it is applying to join the North Atlantic Treaty Organization (NATO). On Friday, the Russian…

UK Consumer Confidence Hits Lowest Level since Records Began

Confidence among UK consumers has hit the lowest level since records began nearly five decades ago, according to a new report. The worrying drop in consumer confidence was revaled by business intelligence firm Growth from Knowledge (GfK). GfK’s long-running Consumer Confidence Index decreased two points to minus 40 in May.…

Wells Fargo CEO Warns Worst Is Yet to Come for Americans: ‘No Question’

The CEO of Wells Fargo Charles Scharf has warned that there's "no question" that life is going to get far harder for many Americans before it gets better. During a Wall Street Journal event this week, Scharf warned that the U.S. economy is about to get far worse. “It’s going…

White House Makes Worrying Admission about Stock Market

White House Press Secretary Karine Jean-Pierre has admitted that President Joe Biden's administration is not monitoring the stock market on a regular basis. The news comes as the Dow Jones Industrial Average plunged 1,100 points Wednesday. Speaking to reporters on Wednesday, Jean-Pierre said that “nothing has changed on how we…

Powell: Fed to Raise Interest Rates without ‘Hesitation’ until Inflation Eases

Federal Reserve Chairman Jerome Powell has warned that the central bank will continue raising interest rates to combat elevated inflation until it comes down. Powell said the Fed is committed to fighting inflation during an interview at The Wall Street Journal’s Future of Everything Festival. “We will go until we…

Elon Musk: Twitter Deal ‘Cannot Move Forward’ until Bot Data Confirmed

Elon Musk has warned Twitter that his deal to buy the company “cannot move forward” until the data on bots and fake accounts has been confirmed. Twitter shares tumbled again on Tuesday after Musk said that his $44 billion purchase of the social media platform won't go ahead until the…

Rep. Johnson: Biden Must Stop Foreign Energy Reliance & ‘Reckless Spending’ to Reduce Inflation

Rep. Bill Johnson (R-OH) has warned Democrat President Joe Biden that his administration needs to end reliance on foreign nations for energy and reverse its course of “reckless spending” if inflation is going to go down. Johnson told NTD’s “Capitol Report” show that he doesn’t see an end in sight…