Chinese Exports From Xinjiang Surge Despite Forced Labor Import Ban
The Chinese government recently revealed export data which showed that despite a tough new US law designed to bar the import of goods produced with forced labor from Uyghur Muslims…
Facebook Parent Meta Focusing On Making Paid Features For Its Apps
According to a report in the Verge, Facebook is setting up a division devoted to identify and build, “possible paid features” for Facebook, Instagram, and Whatsapp. Reporting on leaked internal…
Larry Summers Says Unemployment Will Need To Hit 6% To Get Inflation To Target Rate
During an interview on Friday’s episode of Bloomberg’s “Wall Street Week,” economist, Harvard Professor, Treasury Secretary under President Bill Clinton, and Director of the National Economic Council under President Barack…
Bed Bath & Beyond’s Turnaround Plan Judged Insufficient
This week Bed Bath & Beyond laid out to investors its turnaround strategy, however experts say it is likely too little too late, and will not save the company. Macco…
G7 Imposes Russian Oil Price Caps
G7 finance ministers and central bank leaders voted unanimously to impose price caps on Russian oil at a virtual meeting on Friday. The price ceiling is ostensibly being imposed to…
As Europe Fills Storage, The EU Still Requires Consumption Cuts To Get Through Winter
According to present trends, the European Union is on course to meet or exceed gas storage reserve levels in preparation for the winter. However analysts are warning, meeting gas storage…
Nvidia Allowed To Export AI Chips To China Temporarily
Nvidia stock was hard hit by news the US government has imposed new restrictions on exports of its cutting edge chips to customers in China. Shares dropped 11% to $133.46…
August Jobs Report Comes In Just Right
The August jobs report showed that the economy added 315,000 jobs in August, and unemployment rose to 3.7%. Although the labor market is still strong, job growth has cooled off…
Amazon Sued By HVAC Company Over $1 Million In Unpaid Invoices
Amazon is being sued by a Chicago-based commercial refrigeration and HVAC company, which accuses the e-retailer of failing to pay its invoices to the tune of over $1 million, accrued…
Gazprom Announces Complete Shutdown Of Nord Stream 1 Pipeline Due To Turbine Oil Leak
On Friday, Russian State Energy company Gazprom announced it is suspending all natural gas flows through the Nord Stream 1 pipeline indefinitely, due to technical malfunctions. It had previously shut…
