Economy Archives - Page 54 of 59

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…

As the Economy Slides, Chinese Communist Party Seeks ‘Stability’

The Central Economic Work Conference, the Chinese Communist Party’s annual event where top officials discuss economic priorities for the next year, concluded on Dec. 10. The meeting was highly anticipated as China faces significant economic headwinds going into 2022. The phrase “stability” emerged as the key theme of this meeting,…

Elon Musk ‘Thinking of Quitting’ His Jobs

The world's richest man, Elon Musk, says he’s considering "quitting" his jobs "and becoming an influencer." “Thinking of quitting my jobs & becoming an influencer full-time wdyt,” Musk, the chief executive officer (CEO) of Tesla Inc. and SpaceX, said in the Twitter post, without elaborating. It was not immediately clear…

Lindsey Graham Slams Biden’s ‘Madness’: ‘Build Back Better Is a Death Blow to Our Economy’

Republican Sen. Lindsey Graham (R-SC) said he was vindicated when he saw a CBO score of Democrat President Joe Biden’s latest spending boondoggle. The score shows Biden's plan would add another $3 trillion to the deficit over 10 years if the spending was permanent. He held a press conference to…

Business Travelers Fearful as Omicron Disrupts Flights in Europe’s Biggest Airport

London’s Heathrow Airport said that renewed travel restrictions made on the discovery of the Omicron COVID-19 variant is stoking fears among passengers, especially business travelers, who worry they won’t be able to get back home. According to the latest figures published Friday, the demand for air travel, which had started…

Former Ambassador Calls on Advertisers to Boycott China Olympics: ‘Don’t Just Listen to Dollars’

A former U.S ambassador has called on top American advertisers to boycott the Winter Olympic games in Beijing over the Chinese Communist Party's many human rights abuses. Olympic sponsors should “listen to their hearts”—not dollars—and stand up to boycott the upcoming Beijing Winter Olympics, said Sam Brownback, former U.S. Ambassador-at-Large…

USPS Preparing to Ship 12 Billion Items This Holiday Season

The U.S. Postal Service (USPS) has revealed in its latest forecasts that it is preparing to process, ship, and deliver billions of items this Christmas. According to the independent government agency, 12 billion letters, cards, and packages will be sent across the country this holiday season, with more than two-thirds…

Communist China Cuts Banks’ Reserve Requirements in Effort to Stimulate Slowing Economy

The Chinese Communist Party’s central bank has announced it will cut the amount of cash that banks must hold in reserve, according to reports. The move will unlock $188 billion in long-term liquidity to shore up slowing economic growth. The People’s Bank of China (PBOC) said on its website on Dec.…