WBZ-TV political analyst Jon Keller talks to Katie Lannan and Matt Murphy from State House News Service.
The layoffs at Tesla show that white-collar workers are screwed, predicts hedge funder famous from ‘The Big Short’
There’s a surplus of white-collar workers in America and more layoffs are coming, warns Michael Burry of Scion Asset Management.
If you’re a California taxpayer being hurt by inflation, you may be getting some financial relief. The state is sending 23 million residents “inflation relief” checks of up to $1,050 this fall to help ease the financial burden that the highest inflation in 40 years has placed on Americans. “California’s budget addresses the state’s most pressing needs,” California Gov. Gavin Newsom said in a joint statement with state lawmakers on Sunday, “and prioritizes getting dollars back into the pockets of millions of Californians who are grappling with global inflation and rising prices of everything from gas to groceries.”
23 million Californians will receive ‘inflation relief’ checks of up to $1,050. Here are 10 other states also offering cash payments.
'The thing all these states have in common is they have surpluses and they are using part of the surplus to send checks.'
A California budget plan calling for as much as $1,050 deposited into the bank accounts or distributed via debit card to California taxpayers is in the works. However, Californians may not see the...
- The Telegraph
Camelot loses legal battle to keep hold of National Lottery A defence spending cut – disguised by Boris Johnson's fiscal sleight of hand FTSE 100 falls 0.8pc as recession fears return Ben Marlow: Heathrow risks killing off the golden age of air travel Sign up here for our daily business briefing newsletter
- Business Insider
Cathie Wood and Jeremy Siegel both say that we're already in a recession while inflation shows signs of easing
"I think we're actually in a mild recession," Siegel told CNBC, saying the economy likely contracted in the first half of the year.
- Associated Press
An overwhelming and growing majority of Americans say the U.S. is heading in the wrong direction, including nearly 8 in 10 Democrats, according to a new poll that finds deep pessimism about the economy plaguing President Joe Biden. Eighty-five percent of U.S. adults say the country is on the wrong track, and 79% describe the economy as poor, according to a new survey from The Associated Press-NORC Center for Public Affairs Research. The findings suggest Biden faces fundamental challenges as he tries to motivate voters to cast ballots for Democrats in November’s midterm elections.
- Yahoo News
On more than 30 separate occasions, the United States government has imposed sanctions on Russia for invading Ukraine. Its economy has not yet given way under the strain, but the question remains how long ordinary Russians will be willing to withstand the resulting economic privation.
- Yahoo Finance
Cash on household and corporate balance sheets is higher than ever. That could make the Federal Reserve's inflation-fighting job even tougher, says Apollo Global Management's chief economist.
- Yahoo Finance Canada
A majority of Canadians believe Prime Minister Justin Trudeau and Finance Minister Chrystia Freeland have "no solid plan" to tackle inflation and rein prices in, a new Yahoo/Maru Public Opinion poll has found.
The U.S. economy contracted slightly more than previously estimated in the first quarter as the trade deficit widened to a record high and a resurgence in COVID-19 infections curbed spending on services like recreation. The Commerce Department's third estimate of gross domestic product on Wednesday also showed some underlying softness in the economy, with consumer spending revised lower and inventories higher than reported last month. This is a potential red flag for domestic demand and the economic outlook amid recession jitters as the Federal Reserve aggressively tightens monetary policy to tame inflation.
There can be no return to the highly-leveraged, fractionally-reserved cryptocurrency system whose illusory riches are now giving way to real losses, says our columnist.
- Business Insider
'Big Short' investor Michael Burry predicts inflation will slow later this year — and the Fed will reverse course and cut interest rates
Burry expects retailers to slash prices to get rid of their bulging inventories, slowing inflation and spurring the Fed to scrap further rate hikes.
Floridians facing economic pressure from inflation will get a second crack to save on “freedom” starting Friday.
- Fox Business
FOX Business host Larry Kudlow told 'Mornings with Maria' that the United States is "probably on the front-end of a recession" following the GDP release Wednesday.
Fed Chairman Jerome Powell on Wednesday said there was no guarantee the Fed could engineer a soft landing for the U.S. economy.
Wheat, copper, and oil futures are all down. Strategists blame the declines on waning demand, which reflects recession worries.
The case involves 2,233 Whatsminer machines that were improperly imported, according to the government.
(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Most Read from BloombergTrump’s Final Scene Didn’t Go According to ScriptTesla Cuts 200 Autopilot Workers as California Site ClosesStocks Finish Almost Flat in Teeter-Totter Session: Markets WrapRussia Slips Into Historic Default as Sanctions Muddy Next StepsVenice Plans to Start Weeding Out Cheap TouristsThe price of basic goods in UK stores is rising at the fastest pace in almost 14 y
- USA TODAY
About 23 million California residents will soon receive checks up to $1,050 to help with gas and goods under a budget deal reached by state officials.