New federal inflation data shows consumer prices soared over the last year, affecting everything from gas to food. Inflation rose 7% since December 2020 — the fastest in nearly 40 years. Many shoppers are also noticing empty shelves at their grocery stores, due to severe weather and rising COVID-19 cases. Scott MacFarlane reports from Bethesda, Maryland.
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting
WASHINGTON (Reuters) -The U.S. government said on Friday it would suspend 44 China-bound flights from the United States by four Chinese carriers in response to the Chinese government's decision to suspend some U.S. carrier flights over COVID-19 concerns. The suspensions will begin on Jan. 30 with Xiamen Airlines’ scheduled Los Angeles-to-Xiamen flight and run through March 29, the Transportation Department said. The decision will cut some flights by Xiamen, Air China, China Southern Airlines and China Eastern Airlines.
PARIS (Reuters) -Qatar Airways took a spiralling $4 million-a-day dispute with Europe's Airbus to social media on Friday, publishing a video https://www.youtube.com/watch?v=mKN0SpWeILo&feature=youtu.be of the scarred exterior of grounded A350 jets that the airline said underscored "serious and legitimate safety concerns." The two companies have been locked for months in a dispute over deterioration to paint and anti-lightning protection on the long-haul jets, which Airbus has acknowledged needs attention while insisting it does not put safety at risk. Qatar Airways hit back with the first official images of jets grounded by its national regulator in a bid to keep the spotlight on technical matters after Airbus accused the state-owned airline of engineering the dispute to obtain compensation.
(Bloomberg) -- Farm equipment giant John Deere boasted record profits in 2021 as the global pandemic made consumers and countries more reliant than ever on a functioning agricultural sector. Also last year, unionized workers demanded a piece of the company’s growing pie, and after a strike forced John Deere to provide better compensation to the men and women who make its products.Most Read from BloombergEarly Omicron Breakthroughs Show mRNA Vaccines’ WeaknessJeremy Grantham Doubles Down on Crash
PARIS (Reuters) -Airbus on Thursday raised the stakes in a dispute with major customer Qatar Airways over grounded and undelivered A350 jets by announcing it had revoked a separate contract for 50 smaller A321neo jets the airline plans to use for new routes. The move widens a dispute that moved closer towards a rare courtroom clash on Thursday, with a procedural hearing over Qatar's claim for more than $600 million in compensation over A350 flaws pencilled in for the week of April 26 in London. Airbus revealed it was walking away from the contract for A321neos in skeletal arguments presented during a scheduling session over the A350 dispute at a division of Britain's High Court on Thursday, people familiar with the matter said.
- Business Insider
The workers alleged their manager was unfairly fired. Noah's NY Bagels told KCRA it was looking into the matter.
- Miami Herald
Venezuela has doubled its oil production in recent months thanks to Iran and other players that are helping it evade U.S. sanctions, but the country’s industry is now running near the top of its capacity and it is unlikely it could go much higher than current output levels, according to industry analysts.
- Lexington Herald-Leader
OpEd: I’m beginning to think that maybe it’s not the workers who are at fault here.
- Detroit Free Press
A new study shows that wages are not keeping pace with the escalating prices of new and used cars.
Speaking in a virtual panel of the World Economic Forum, Tai cautioned against a backward-looking "return to normalcy" after two years of COVID-19-induced disruptions. "I think that it is time for us to acknowledge that our goal really shouldn't be to try to go back to the way the world was, say in 2019, but to take lessons, very hard earned lessons, very painful lessons that we have experienced over the past two years and take this opportunity to build toward something that is different and better," Tai said. Key to this will be to strengthen and diversify supply chains, she said.
(Bloomberg) -- Canada is now one of the top buyers of U.S. corn as cattle ranchers scour for grain to feed their animals.Dry conditions zapped as much as 40% of western Canada’s grain output last year, sending prices for barley and other crops to all-time highs and leaving a dearth of feed for the nation’s cattle industry. The squeeze has prompted Canada to make a rare commitment to bring in about 3.2 million metric of tons of corn from its southern neighbor, according to U.S. Department of Agri
(Bloomberg) -- Intel Corp. will announce Friday the next step in Chief Executive Officer Pat Gelsinger’s plan to build up semiconductor production in the U.S., seeking to restore the chipmaker’s edge in manufacturing technology.Most Read from BloombergCrypto Crash Erases More Than $1 Trillion in Market ValueTech Leads Stocks to Worst Week Since March 2020: Markets WrapBitcoin Chart Hints at Possible Floor for SlideJeremy Grantham Doubles Down on Crash Call, Says Selloff Has StartedAmerican Airli
Both Morgan Stanley and Bank of America analysts are getting even more bullish on the outlook for crude.
(Bloomberg) -- Wholesale U.S. prices for fertilizer are dropping, and that could signal easing food-cost pressures and relief for farmers getting set for spring planting.Most Read from BloombergCrypto Crash Erases More Than $1 Trillion in Market ValueTech Leads Stocks to Worst Week Since March 2020: Markets WrapBitcoin Chart Hints at Possible Floor for SlideJeremy Grantham Doubles Down on Crash Call, Says Selloff Has StartedAmerican Airlines Sues The Points Guy Over Its Rewards Management AppCor
"I didn't get a pay raise, promotion, or even a pat on the back."View Entire Post ›
- American City Business Journals
The space company has 4,000 employees nationwide but none in Colorado right now. The brewery is considering expansion in Texas instead of locally.
- Biloxi Sun Herald
Federal officials said the former employee was repeatedly referred to as “Black boy,” “the Black boy” or “little Black guy.”
Oil has been rallying to start the year, with no shortage of bullish factors working to lift prices to their highest levels in more than seven years, raising expectations that the per-barrel cost of the commodity will soon reach $100.
- South China Morning Post
Hong Kong's banking talent shortage worsened by zero-Covid rules must be urgently addressed, industry association says
Hong Kong's banks face a severe talent shortage, as stringent quarantine and travel rules in a relentless pursuit of the city's zero-Covid policy have deterred visitors and cut off the supply of skilled labour for boosting the local workforce. The shortage has worsened over the course of the last year, as the government's zero-Covid rules - from 21-day quarantines to school breaks and lockdowns - have begun to grind on many expatriate staff after two years, according to the Hong Kong Association
Dealers who don't end bad practices like overcharging on reservation fees, adding massive "market adjustment" prices or using sales brokers will risk losing their Chevy Corvette Z06 allotments.
"I refused to come in on my scheduled days off. They said my work ethic was lacking."View Entire Post ›