News Archives - Page 28 of 44

Recession Barometer Copper Plummets in Ominous Sign for World Economy

The price of copper, widely considered a barometer to predict a global recession, has plummeted in an ominous sign for the world economy. Copper prices fell below $7,000 per ton during July 15 trading at the London Metal Exchange. The drop is the first time since November 2020 and indicates…

Defaults to Soar amid ‘Extremely High’ Recession Risk and Rising Borrowing Costs

Credit defaults in the United States are expected to soar as borrowing costs continue to rise amid an "extremely high" risk of recession, a group of finance industry leaders is warning. An association of fund managers issued a dire prediction about the growing risk of credit defaults. The International Association…

Twitter Back Online for Many Users after Suffering Global Outage

Twitter is now coming back online for many users after an hour-long global outage on Thursday. The incident kept thousands of users from accessing the social media platform around the world. The outage affected nearly 2,000 users as of 9 a.m. ET, down from the peak of 50,000 incidents an…

Elon Musk Increasing Childcare Benefits at His Companies to Tackle ‘Underpopulation Crisis’

Tech entrepreneur Elon Musk has announced that he is significantly increasing childcare benefits at his companies as part of his plan to help tackle the “underpopulation crisis.” In a statement on Twitter, Musk said he believes the issue poses a threat to civilization. Musk runs Tesla and SpaceX alongside smaller…

Truth Social CEO Devin Nunes: Musk Figured Out Twitter Is ‘Just a Global PR Wire’

Truth Social CEO Devin Nunes has weighed in on the Twitter buyout deal falling through, noting that Elon Musk realized that the social media giant is "just a global PR wire." Many have been disheartened after Musk walked away from a $44 billion deal to buy Twitter. Musk said that…

Air Transport Association Chief Warns Flights to Get More Expensive: ‘Without a Doubt’

The cost is air travel is going to continue increasing with flight prices expected to soar, the International Air Transport Association (IATA) chief has warned. IATA director-general Willie Walsh warns that flight prices will keep rising due to skyrocketing fuel prices. Walsh, who previously served as CEO of Aer Lingus…

Face-Recognition Technology Puts SoftBank Between China and US

A SoftBank-owned company is thriving by offering face-recognition technology that is fuelled by a blacklisted Chinese firm. The company is offering the tech to the likes of Mastercard and Visa and gives an opportunity for the Japanese conglomerate, fraught with geopolitical and privacy risks. Japan Computer Vision Corp. (JCV), owned…

Economist Who Correctly Predicted Inflation Is Now Predicting More to Come

The economist who correctly predicted today's inflation is now warning that there's more to come. Hundreds of economists employed by the Federal Reserve were apparently blindsided by the current wave of inflation. Meanwhile, there were economists who got their predictions right. Not only have they got the overall inflation number…

Working from Home to Be a Legal Right in the Netherlands

Lawmakers in the Netherlands have moved to make working from home a legal right, according to reports. The move would make the European country one of the first in the world to enshrine remote work flexibility in the law. The Dutch Parliament approved the measure earlier this week, Bloomberg is…

US Sanctions Network for Selling Iranian Oil to China

The United States government has sanctioned an international network of companies accused of violating oil sanctions placed on Iran. The network allegedly sold Iranian oil to China and other countries in east Asia. In a press release, the Treasury Department said it imposed sanctions on the companies. They are accused…