Category: #BusinessNews
Mortgage demand rises for the first time in six weeks despite sharply higher interest rates
Mortgage application volume increased last week for the first time in six weeks, according to the Mortgage Bankers Association, despite a rise in interest Source:…
Germany seizes Russian oil firm Rosneft’s refineries
Rosneft’s German subsidiaries are placed under trusteeship ‘to counter the threat to the security of energy supply’. Source: https://www.aljazeera.com/news/2022/9/16/germany-seizes-russian-oil-firm-rosnefts-refineries Droolin’ Dog sniffed out this story…
South Korea Hits Google, Meta With Record-Setting Fines Over Privacy Violations
Google and Meta have yet another privacy regulator breathing down their necks and scrutinizing their advertisement business. Read more… Source: https://gizmodo.com/google-meta-hit-with-record-setting-fines-over-privacy-1849534472 Droolin’ Dog sniffed out…
Private equity still investing billions in dirty energy despite pledge to clean up
Carlyle, Warburg Pincus and KKR are the worst offenders according to a new scorecard of private equity climate risks Private equity firms pumping billions of…
Vietnam’s ‘unjust’ energy transition
The country is silencing those pushing the government to move faster towards clean energy. That’s a recipe for disaster. Source: https://www.aljazeera.com/opinions/2022/9/8/vietnams-unjust-energy-transition Droolin’ Dog sniffed out…
Price controls are back
The inflation, energy and security shocks walloping the world economy are driving a kind of government intervention in markets last seen in the 1970s. Why…
Gas prices soar and pound and euro fall as Russia shuts Nord Stream pipeline
European countries scramble to store as much gas as possible before winter as they brace for shortages Gas prices surged on Monday and the pound…
Why weed companies can’t make any money
It’s not easy selling weed. The legal marijuana business is booming — revenues are projected to hit $32 billion this year, more than double what…
Trader Joe’s broke labor laws in effort to stop stores unionizing, workers say
Situation is notable as the company has cultivated a liberal brand ethos and anti-union moves are likely to dent that public image Workers at Trader…
The Newest Drought Victim in Texas: Cotton
As droughts continue to sweep across the United States, Texas is in a precarious position. The state’s incredibly dry conditions are taking a toll on…
A US Freight Rail Crisis Threatens More Supply-Chain Chaos
Federal regulators and the White House have been scrambling to prevent poor service and a possible strike from jamming up a vital but often overlooked…
Abbott to restart production of Similac baby formula at its Michigan plant
Abbott Laboratories said Friday it is restarting production of its Similac baby formula and expects to begin shipments to retail stores in about six weeks….
Warren ‘very worried’ the Fed will cause a recession
Sen. Elizabeth Warren expressed clear concern Sunday about the Federal Reserve’s push to counter inflation on CNN’s “State of the Union.” “What’s worse than high…
Moderna sues Pfizer and BioNTech over coronavirus vaccine
Company is suing pharmaceutical rival and its German partner for patent infringement Moderna is suing its US pharmaceutical rival Pfizer and its German partner BioNTech…
Argentina hikes rate to 69.5% as inflation surges to 30-year high
Consumer prices soared 71 percent in July compared to a year ago, the government said on Thursday. Source: https://www.aljazeera.com/economy/2022/8/11/argentina-hikes-rate-to-69-5-as-inflation-surges-to-30-year-high Droolin’ Dog sniffed out this story…
Consumer prices rose by 8.5% year over year in July as the summer of inflation wears on
Inflation reached 8.5% in July, compared with a 40-year high of 9.1% in June, providing a measure of relief to consumers as gas prices fall. Source:…
Amazon is buying iRobot, the creator of the Roomba robot vacuum
Amazon just took a big step toward cornering the market for household robots. The company has reached a deal to acquire iRobot, the creator of…
Twitter Obliterates Elon Musk’s Excuses for Trying to Kill $44 Billion Deal in Blistering Court Filing
Back in April, Elon Musk made a $44 billion offer to buy Twitter before he decided in July that he wanted to cancel the deal….
U.S. employers added 528,000 jobs; unemployment falls to 3.5%
America’s hiring boom continued last month as employers added a surprising 528,000 jobs despite raging inflation and rising anxiety about a recession. July’s hiring was…
Uber bookings hit all-time high in last three months as workers returned to offices
Passengers took 1.87bn trips during the spring and early summer, company says, a 24% increase compared with same time last year Uber’s bookings hit an…
Twitter investor sues Elon Musk in a bid to force through $44 billion takeover
It’s not only Twitter that’s trying to force Elon Musk to buy the company for $44 billion. An investor filed a proposed class action lawsuit…
Home prices cooled at a record pace in June, according to housing data firm
Rising mortgage rates and inflation in the wider economy caused housing demand to drop sharply in June, forcing home prices to cool down. Source: https://www.nbcnews.com/business/real-estate/home-prices-cooled-record-june-according-housing-data-firm-rcna40903…
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