Business Archives - Page 35 of 45

Janet Yellen Admits Biden’s Spending ‘Did Feed’ Inflation

Treasury Secretary Janet Yellen has admitted that Democrat President Joe Biden’s $1.9 trillion American Rescue Plan "did" contribute to inflation. Speaking during a Wednesday interview with The Wall Street Journal's editor-in-chief Matt Murray, the former head of the Federal Reserve conceded that the White House’s enormous spending had played a…

Producer Prices Soar to Record Highs in Eurozone as Stagflation Looms

Producer price inflation in the eurozone has soared to a record high in the year through March, according to a new report. The European Union’s statistical agency is reporting that consumers should expect prices to continue rising as inflation bites. The news delivers a fresh sign that inflationary pressures continue…

Federal Reserve Meeting in Focus as Sharp Rate Hike Expected to Fight Inflation

This week's two-day Federal Reserve policy meeting is a major focus point for investors, with markets expecting the central bank to press ahead with a sharp rate hike in an effort to relieve surging inflationary pressures. The Federal Open Market Committee (FOMC) is also expected formally announce the launch of…

J&J Suspends Sales Forecast for COVID Vaccine, Cites Uncertainty in Global Demand

Pharmaceutical giant Johnson & Johnson has suspended all sales forecasts for its COVID-19 vaccine as demand for the shots is plummeting. The company cited a global supply surplus and uncertainty when it comes to future demand for the vaccine. J&J had previously predicted as much as $3.5 billion in 2022…

China’s Economy Weakens in March as ‘Zero-COVID’ Lockdowns Bite

Amid crippling "Zero-COVID" lockdowns in China, the Chinese economy showed significant signs of weakening in March. China’s economy saw a contraction in both domestic consumption and factories activities, official data shows. The figures come after Beijing’s sweeping COVID-19 lockdowns take their toll across the country. China's financial hub Shanghai has…

Elon Musk ‘Very Vulnerable to Blackmail of Chinese Communist Party,’ Ex-Trump Adviser Peter Navarro Claims

Former Trump White House trade adviser Peter Navarro has claimed that Elon Musk is "very vulnerable to the blackmail of the Chinese Communist Party." While some feel that tech mogul Musk’s recent move to buy Twitter outright is a sign that the restoration of free speech could return to the…

Elon Musk Warns Censorship on Twitter Poses ‘Civilizational Risk’

Tech entrepreneur Elon Musk has issued a warning about the threat that censorship on Twitter and other platforms poses to civilization. Musk said Thursday that the reason he’s trying to buy Twitter is not to make money but to turn it into a bastion of free speech. He said that…

Pfizer Requests US Regulators to Authorize COVID Vaccine Booster Shots for 5– to 11-Year-Old Children

Pfizer and BioNTech are putting in requests to the U.S. Food and Drug Administration (FDA) seeking emergency use authorization to give their COVID-19 booster shots to young children. The pharmaceutical giants plan to give their booster shots to children aged 5- to 11-years-old, the companies announced on April 14. The…

Putin’s Price Hike? Biden Admin Policies Behind 8.5 Percent Inflation, Experts Say

While the White House is trying to convince the American people that Russian President Vladimir Putin is responsible for the past year of soaring inflation, experts are warning that the policies of Democrats and the Biden administration are driving the skyrocketing rates. On Monday, ahead of releasing the inflation data…

East African Countries Facing Major Food Shortages Due to Drought, Ukraine Invasion

Several East African countries are now facing major food shortages due to domestic droughts and outside forces such as the Russian invasion of Ukraine. More than 29 million people are suffering from a scarcity of food supplies. The crisis has come following prolonged periods of drought in the east of…