Economy Archives - Page 50 of 56

Twitter Permanently Suspends Marjorie Taylor Greene’s Account

Twitter has suspended the personal account of Rep. Marjorie Taylor Greene (R-GA) after claimings she was posting "medical misinformation" relating to the COVID-19 pandemic. “We permanently suspended Marjorie Taylor Greene for repeated violations of our COVID-19 misinformation policy,” a Twitter spokesperson said in a Sunday statement to news outlets. The…

IKEA Raises Prices by 9% Across Global Markets as Supply Chain Issues Persist

Swedish home furniture giant IKEA has announced that it is raising prices by an average of 9 percent across its global markets. The company insists it has been forced into the price hike after being hit with supply chain issues that are currently wreaking havoc across the world, prompting businesses…

Elon Musk Dumps Another $1 Billion in Tesla Shares, Exercises Options to Buy Stock

Elon Musk has just sold about $1.02 billion worth of his holdings in Tesla, according to reports. The latest sell-off edges the tech entrepreneur closer to his sales target of 10 percent that he had promised Twitter followers last month. Meanwhile, Musk has bought millions of shares via options at…

Larry Summers Warns of Recession, Slams Student Loan Debt Relief

President Obama's former U.S. Treasury Secretary Larry Summers has warned that America is fast heading toward recession under Joe Biden. Summers issued the warning while blasting the Democrats' push for student loan debt relief. He described the debt forgiveness as a "regressive" policy that mostly benefits high-income households. In a…

Thousands of Flights Canceled Amid COVID-19 Omicron Surge

Airlines on Sunday have canceled more than 2,100 flights worldwide after U.S. air carriers canceled about 1,000 on Christmas Day. At least 2,162 cancelations were reported around the world, with 669 coming in the United States, according to flight-tracking website FlightAware.com on Sunday morning. Some 5,900 flights were also delayed.…

Tik Tok Sued by Content Moderator for Psychological Trauma after Reviewing Graphic Videos

A former Tik Tok content moderator has sued the Chinese Communist Party-linked social media app for psychological trauma after reviewing graphic videos on the platform. Former content moderator Candie Frazier has filed a lawsuit in a California court, alleging that Tik Tok and its parent company ByteDance failed to provide…

Another 205,000 U.S Workers File for Unemployment Benefits

Another 205,000 American workers have filed for unemployment benefits in the past week, according to reports. The latest weekly figures match the prior week’s jobless claims number and are roughly in line with pre-pandemic levels. The data suggests that the recent rise in COVID-19 infections was not driving a fresh…

Biden Warns of ‘Rate Hikes’ & ‘More Pain’ If ‘We Don’t Pass Build Back Better’

Democrat President Joe Biden has warned Americans they could be facing "interest rate hikes" and "more pain" unless Congress passes his massive "Build Back Better" spending plan. Biden issued the warning during an interview aired on Wednesday’s edition of ABC’s “World News Tonight.” Speaking with host David Muir, Biden stated…

Procter & Gamble Recalls 32 Aerosol Hair Products over Cancer-Causing Chemical

Procter and Gamble (P&G) has released a voluntary recall list of dozens of hair products due to the aerosol sprays containing a "cancer-causing" chemical. The products were recalled on December 17, after benzene, a human carcinogen chemical linked to leukemia, was detected in them. It is the second massive recall…

Social Media App Parler Plans to Expand Into NFTs

Free-speech focused social media platform Parler has announced that it will expand its business into non-fungible tokens (NFT). In a statement Monday, Parler revealed a move that underpins the rapid growth of the digital asset in recent months. An NFT is a digital asset usually bought with cryptocurrencies or in…