Economy Archives - Page 53 of 58

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…

CNN Shuts Down Offices over Rising COVID Cases, Memo Reveals

As COVID-19 cases have recently increased across America, CNN has closed its offices over the weekend, according to the cable "news" station. In a Saturday announcement, the network revealed that only employees who must work onsite will be allowed in its U.S. offices. CNN President Jeff Zucker in a memo…

YouTube TV Slashes Fees after Losing Disney-Owned Channels in Failed Negotiations

Google’s YouTube TV has slashed its subscription fees after losing over a dozen Disney-owned channels, including ABC and ESPN. YouTube lost the channels after the two companies failed to strike a deal in last-minute contract renewal negotiations. The two firms said in separate statements Friday that the negotiations fell through…

Retail Sales Plummet as Inflation Bites, Stores Run Low on Goods

Retail sales are plummeting in the run-up to Christmas as stores struggle with supply chain issues and shoppers feel the bite of skyrocketing inflation. The slow-down was revealed in a recent report from the U.S. Census Bureau, which is part of the U.S. Department of Commerce. The report shows a…

Melania Trump Launches New Blockchain Venture, Company Releases First NFT

Former First Lady Melania Trump has launched her first venture into the non-fungible token (NFT) realm. To coincide with the launch, Melania is releasing her first NFT and launching a new platform that will roll out the token regularly. Some of the proceeds will be going to help children in…

Melania Trump Launches New NFT Business Venture: It ‘Will Support My Ongoing Commitment to Children’

Former First Lady Melania Trump has just launched a new business venture that she says will support her Be Best initiative to help children. The new venture is a non-fungible token (NFT) that will use Solana blockchain technology. “Melania’s Vision” is the first NFT released on her new NFT platform.…

Dogecoin Soars after Elon Musk Announces Tesla to Accept DOGE for Merch

Tesla CEO Elon Musk tweeted Tuesday that his electric car company will now accept Dogecoin for purchases of merchandise. Almost immediately after his announcement, the price of DOGE soared by 25 percent. Data from Cointelegraph Markets Pro and TradingView showed DOGE/USD skyrocketing to become the only major cryptocurrency to deliver gains on the day.…

Wholesale Prices Soar to Record Highs, Adding to Broader Inflation Woes

In November, wholesale prices skyrocketed at their fastest annual pace on record. The rise is the lastest inflation-related datapoint adding to broader concerns about the persistence of elevated prices as higher input costs for producers tend to trickle down to consumers. The Labor Department said in a Dec. 14 statement…