News Archives - Page 7 of 44

Eurozone’s Core Inflation Soars to Record High

The Eurozone's core inflation soared to a record high in January, as the bloc’s energy crisis rages on. The euro bloc is currently facing the worst energy crisis in decades after the Russia–Ukraine war caused gas and oil prices to soar. Last month, Europe’s consumer price index showed inflation in…

FOMC Members Warned of ‘Uncertainties’ in Inflation Outlooks, Raised Recession Odds, Minutes Reveal

Federal Open Market Committee (FOMC) members are quietly raising concerns about a long, drawn-out recession, recent minutes have revealed. Minutes from the latest FOMC policy meeting show that the policy-making arm of the central bank believes the odds of a recession occurring in 2023 are higher. While inflation is moderating…

Intelligence Agency: Spies Are Posing as Diplomats to Win over Journalists

Australia’s domestic spy chief Mike Burgess has warned that foreign spies are posing as diplomats or reporters to engage and influence journalists. Burgess is the head of the Australian Security Intelligence Organisation (ASIO). In his wide-ranging Annual Threat Assessment speech, Burgess also revealed his agency recently disrupted a “hive of…

Reckitt Recalls 145,000 Cans of Vegan Baby Formula over Deadly Bacteria Concerns

Reckitt is voluntarily recalling 145,000 cans of its vegan baby formula “out of an abundance of caution” over concerns it could be contaminated with deadly bacteria. The nutrition product maker says the recall is due to possible cross-contamination with the potentially deadly bacteria, Cronobacter sakazakii. In a notice on February 19,…

CEO of Norfolk Southern Visits Toxic Train Crash Site in Ohio

The CEO of Norfolk Southern rail company has finally visited the small Ohio town where a train derailed earlier this month, creating a toxic environmental disaster. Company CEO Alan Shaw vowed that Norfolk Southern “will be working tirelessly every day to get East Palestine back on its feet as soon…

Moderna Reverses Course, Says People Will Not Have to Pay for Covid Shots

Moderna has reversed course and announced that people will not have to pay for its Covid shots after the federal government stops buying the pharmaceutical company's vaccines. “Moderna remains committed to ensuring that people in the United States will have access to our COVID-19 vaccines regardless of ability to pay,”…

Used Car Prices Soar with Largest Spike in 14 Years

Used car prices have soared, recording the largest February increase in 14 years, according to reports. The spike in prices comes as inflation continues to drive consumer prices. Wholesale used-vehicle prices increased 4.1 percent from January through the first half of this month, signifying the largest February increase since 2009’s…

Poultry Supplies under Threat as Bird Flu Continues to Spread Worldwide

Poultry supplies are coming under increasing threat as bird flu continues to spread worldwide, experts are warning. Entire flocks are often culled even when only one bird tests positive because the disease is extremely deadly to poultry. Veterinarians and disease experts told Reuters in a new interview that the avian-borne virus…

CBO: America May Default by Summer If Debt Ceiling Deal Not Reached

The Congressional Budget Office (CBO) has warned that America could default on its debt sometime over the summer. CBO Director Phillip L. Swagel warned that the federal government's borrowing power will be severely blunted if President Joe Biden and House Republicans don’t agree on the debt ceiling soon. “If the…

Lael Brainard Named Biden’s Top White House Economist amid Economic Team Shakeup

Federal Reserve Vice Chair Lael Brainard will step down from her position and serve as President Joe Biden’s top economist, the White House said on Tuesday. Brainard will serve as the new head of the National Economic Council (NEC), succeeding Brian Deese, who recently announced his resignation. President Biden also…