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.
Economy
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.
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.”
Elon Musk Calls Out TikTok over Risk to ‘Civilization’
Elon Musk is questioning whether the Chinese Communist Party-linked short video app TikTok is leading to the collapse of civilization.
Jerome Powell: Fed Is ‘Acutely Focused’ on Fighting Inflation
Federal Reserve Chairman Jerome Powell has insisted that curbing inflation and restoring stability to the U.S. dollar is one of the Fed’s highest priorities.
US Refiners Increase Heavy Crude Oil Imports as Biden Threatens Executive Action
The United States has increased imports of heavy crude oil as Democrat President Joe Biden threatens to use executive powers to force companies to help with soaring gas prices.
UK Central Bank Hikes Interest Rates to Tackle Runaway Inflation
The UK’s central bank has raised its benchmark interest rate for the fifth time in a row as the country battles to tame the nation’s cost-of-living crisis.
Chevron CEO Warns There May Never Be Another Oil Refinery Built in America Again
Chevron CEO Mike Wirth has warned that there may never be another oil refinery built in America again due to Democrat President Joe Biden’s policies.
Elon Musk’s Starship Must Complete 75 Environmental Actions to Get Permission to Launch, FAA Rules
Elon Musk’s SpaceX must complete over 75 environmental actions before its Starship is granted permission to launch, the Department of Transportation’s Federal Aviation Administration (FAA) has ruled.
Red Flag Flashes for Recession as Bellwether 2-10 Yield Curve Inverts
A red flag for recession was raised on Monday when the yield curve inverted on the bellwether 2-year/10-year U.S.