Economy Archives - Page 48 of 59

Russia Claims Country Will Survive ‘Emotional’ Market Reaction to Ukraine Invasion

Russia has insisted that it will survive the “emotional” financial market reaction to Moscow’s invasion of Ukraine. Kremlin spokesman Dmitry Peskov responded as Western countries, including the United States, have begun sanctioning Russian entities while promising tougher punitive measures. Peskov said Thursday, just hours after launching the invasion, that Russia…

Russia’s Ex-President: Gas Prices to More Than Double after Nord Stream 2 Freeze

Russia's former President Dmitry Medvedev has warned that gas prices will more than double after Germany announced a freeze on the Nord Stream 2 pipeline. Medvedev said Tuesday that he expects Europeans will soon face a mammoth rise in natural gas prices in response. Germany announced the freeze over Moscow’s…

Billionaire Carl Icahn Doubles Down on Campaign against McDonald’s over Pig Policy

Billionaire Carl Icahn has ramped up his campaign against McDonald’s over the fast-food giant's pig sourcing policy, which the activist investor says is obscene. McDonald’s sources pigs from suppliers who continue to keep pregnant sows in gestation crates. Icahn has nominated Maisie Ganzler, chief strategy, and brand officer at Bon…

Renault Production May Be Impacted by Supply Chain Issues in Russia

French automaker Renault has warned that its production may be severely impacted due to supply chain issues in Russia. The company is concerned about the stability of its supply chains in Russia amid rising tensions between the country and Ukraine. Should a conflict break out, it will have repercussions for…

Biden’s $15 Minimum Wage for Federal Contractors Partly Blocked by 10th Circuit

Democrat President Joe Biden's order to force a $15 per hour minimum wage for federal contract workers has been partly blocked by the U.S. Court of Appeals for the 10th Circuit. The court partially stayed the enforcement of Biden’s executive order that requires that all federal contractors be paid a…

Joe Manchin Forces Biden Admin to Admit ‘Inflation Is a Burden on a Lot of People’

Democrat Senator Joe Manchin has finally got President Joe Biden's administration to admit that inflation has become "a burden for a lot of people." After coming under pressure from Sen. Manchin (D-WV), the White House now acknowledges that inflation is a real problem. Manchin is urging the Biden admin to…

GOP Boycotts Biden’s Federal Reserve Nominees, Fate Now Unclear

Senate Republicans have boycotted a vote on Democrat President Joe Biden’s nominees to fill vacant seats on the Federal Reserve Board. The GOP's opposition is coalescing around Sarah Bloom Raskin, the White House’s pick for the Fed’s vice chair for bank supervision. Bloom Raskin is also the wife of former…

Federal Judge Blocks Biden’s Key Executive Order on Climate Change

A federal judge has blocked a key executive order on climate change that was signed by Democrat President Joe Biden on his first day in office last year. U.S. District Judge James Cain blocked Biden’s January 2021 climate initiative that would factor in an alleged “social cost” for emissions of…

Ex-Obama Economist: Biden Is Wrong on Inflation

A former top economic adviser in Barack Obama's administration has warned that Democrat President Joe Biden is "wrong" about inflation. During an appearance on MSNBC, Steve Rattner, who served as counselor to the Treasury Secretary under Obama, blasted Biden for "being wrong" about "what’s causing inflation." “Well, first of all,…

Cost of Buying a Home Soars as Supply Hits Record Low Levels

The cost of buying a home in America has soared to new highs as the supply levels have hit new lows. The number of mortgage applications from prospective homebuyers has dropped significantly for the week ending Feb. 4. The number of refinancing applications has also dropped off following the rise…