Dallas may have a tighter budget next fiscal year due to a huge increase in the living wage as well as higher fuel costs.
Ultrawealthy Americans are flocking to get ‘golden visas’ in Europe amid political turmoil. Here are the top 2 places they’re going.
A new report by Get Golden Visa predicts a “golden visa frenzy” after Roe v Wade decision as Americans look to work remotely abroad and escape inflation. The data doesn't lie.
- Motley Fool
Meanwhile, the Federal Reserve is implementing a series of interest rate hikes in an effort to slow inflation and bring living costs down to more manageable levels. If consumers start cutting back, less money will be going into the economy.
- Raleigh News and Observer
The city has earned a top 10 spot several straight years.
More than half of consumers say they have changed their eating and drinking habits to manage the rising cost of living, according to a new survey by global intelligence company Morning Consult. Consumers will usually cut their restaurant spending in response to high inflation, but as financial pressures deepen, they change their supermarket habits too, said Darren Seifer, food and beverage industry analyst with The NPD Group. In tough economic times, consumers start cutting back — switching to store brands or generic products that are cheaper than big-name brands, buying smaller sizes, and buying chicken instead of beef, Seifer said.
Indian startups are cutting costs after investors like Sequoia and Matrix Partners India warned them against unsustainable cash burn.
Rising prices and the Fed’s efforts to combat them have put the economy in a tight spot. A recession looms if the global economy doesn’t catch some breaks in the form of unclogging supply chains, extra production of oil and gas, or a deal to let Ukraine export more wheat. The causes of today’s rising prices aren’t necessarily avoidable, but it is possible, even easy, to imagine the US economy being in a better position to deal with this pressure.
- Business Insider
A key economic bellwether just fell into a bear market - and it's happened before every recession in the last 30 years
The price heading for its worst quarterly performance since March 2020, when the coronavirus pandemic hit, adding to the mounting fears of recession.
(Bloomberg) -- Former Treasury Secretary Lawrence Summers said that it will be important for policy makers to allow any coming US recession to do the job of quelling inflation, and to avoid mistakes made in the 1970s, when surging prices became entrenched.Most Read from BloombergSupreme Court Overturns Roe, Transforming Abortion-Rights FightProtest Latest: NY, DC Marches Grow as Justice’s Home TargetedJustice Kavanaugh Says States May Not Bar Travel to Obtain an AbortionStocks Roar Back With Bes
There have been a slew of high profile layoff announcements in recent weeks as CEO's prepare for what they expect to be a tough economic road ahead. While the electric vehicle maker will increase its hourly worker headcount -- those Model 3s aren't going to build themselves after all -- the layoffs will affect about 3.5% of the company's workforce. This round of layoffs comes just weeks after the company laid off 150 employees, including executive-level employees at its Drama Series, Spectacle and Event TV, and Comedy Series Divisions.
- The Telegraph
Nuclear submarine supplier to be sold to US buyer after diplomatic row Russian default expected within days Retail sales volumes down 0.5pc in May FTSE 100 rises strongly Ambrose Evans-Pritchard: The pro-Brussels establishment is painting Brexit as an economic disaster to reverse it Sign up here for our daily business briefing newsletter
Retail sales fell 0.5% in May as households cut spending in supermarkets due to the rising cost of living.
Crude prices were trading down after two days of Congressional testimony from the chair of the Federal Reserve.
Fears are growing that the economy has or will start shrinking, but you can still take steps to help get you through tough financial times.
- The Telegraph
The pandemic property boom across the developed world is coming to an abrupt halt as climbing mortgage rates bring an end to record prices.
‘The whole market is in danger of collapsing’: Germany warns of a ‘Lehman moment’ if Russia cuts off natural gas to Europe
Russia’s fiddling with gas flows to Europe could create an economic spillover effect, warns Germany’s top economy minister.
- LA Times
Sri Lanka's debt-laden economy collapses as the island nation runs out of money to pay for food and fuel. What happened?
- Detroit Free Press
The funding will bolster Ford's promise to investment more than $1 billion in Michigan and create more than 3,000 jobs, a company representative said.
Biden's gas tax holiday might save you $6 a month, fueling calls for inflation stimulus checks instead
Experts say halting the federal gas tax of 18.4 cents per gallon may be insufficient or even harmful.
- Business Insider
Investors should watch the Nasdaq 100 and Chinese stock markets to know if the Fed will pull off a soft landing for the economy, says Fundstrat's Tom Lee
"These two markets bear watching. After all, a recession would be a massive headwind for QQQ and China equities," Fundstrat's Tom Lee said.
Latin America's leaders have pulled no punches in the battle against inflation. The region has some of the highest interest rates in the world, with Mexico's central bank making a record rate hike this week. The resource-rich region's struggle to tamp down prices, despite the aggressive tightening of monetary policy, sends a warning globally about how tough inflation busting will be.