Grocery Prices Decline In April
In April, grocery prices fell again, dropping 0.2% month over month. However despite the monthly drop, they were still up 7.1% year over year, according to the Bureau of Labor…
Evergrande’s EV Unit Shareholders Agree On Restructuring Proposal
According to a filing with the Hong Kong stock exchange Friday, China Evergrande New Energy Vehicle Group’s shareholders have accepted a proposal to offload two subsidiaries in a restructuring. The…
ByteDance Engineer Says He Was Fired For Reporting Criminal Actions
Chinese company Bytedance is facing allegations from a former head of engineering in the United States that he was fired for bringing to management’s attention that the company was illegally…
Musk Hires New CEO For Twitter
NBCUniversal executive Linda Yaccarino has been hired by Eon Musk as the new CEO of social media microblogging site Twitter. On Friday, Musk, the current CEO of Twitter, tweeted, “I…
Germany Looks To Ration Electricity As EV Charging Threatens To Strain Local Grids
On Friday, German public broadcaster BR24 reported that the German government is predicting that electricity rationing could become unavoidable as part of a new energy transition strategy. The outlet reported…
Italy Looks To Withdraw From China’s Belt And Road
On Thursday the Financial Times reported that Italy is planning to hold meetings with China regarding pulling out of China’s “Belt and Road Initiative” (BRI) infrastructure and investment program, according…
US To Transfer Funds Seized From Russian Businessman To Ukraine
The United States government has authorized the first-ever transfer of funds expropriated from a Russian citizen to the Ukrainian government. In a statement Wednesday, US Attorney General Merrick Garland announced…
Russia And China Eliminating Use Of The Dollar In Trade
According to a Reuters report on Thursday, nearly all of China’s purchases of crude oil, gas, coal, andcertain metals from Russia are now settled in Chinese yuan, according to trading…
PacWest Bancorp Stock Plummets Off News Deposit Outflows Continue To Be Brisk
In a pattern reminiscent of the fall of US lender First Republic, US PacWest Bancorp has returned to the news, after it saw its stock price plummet on revealing that…
Jobless Claims Hit Highest Level Since 2021
New claims for unemployment benefits surged last week to a 1-1/2 year high, pointing to a slowing jobs market which could be the beginning of the slowing of the economy…
