New homes sales hit two-year low, while prices up nearly 20%
Sales of new US single-family homes tumbled to a two-year low in April likely as higher mortgage rates and soaring prices squeezed ...
Tag: Economy
Larry Summers slams Biden over inflation, ‘hipster antitrust’ policies
Famed economist Larry Summers is stepping up his criticism of President Biden’s attempts to fight inflation – warning this week ...
HSBC suspends exec Stuart Kirk over climate change remarks
British banking giant HSBC has suspended a top executive who argued during a recent public presentation that the financial risks ...
Americans’ savings shrunk by $9K compared to last year: report
Surging levels of inflation and the COVID-19 pandemic have eaten into Americans’ savings as the average resident has seen their ...
Dow rallies 600 points after markets fell 7 weeks in a row
Wall Street roared back from the precipice of a bear market on Monday after a sluggish two months which saw ...
How restaurants are grappling with food inflation: $34 chicken wings
Restaurant owners are debating whether to charge patrons as much as $34 for a plate of chicken wings or to ...
Stagflation in US economy ‘unavoidable,’ economist El-Erian says
The onset of debilitating stagflation within the US economy is likely “unavoidable” even if the Federal Reserve manages to avoid ...
Coinbase slows hiring as crypto market implodes
Coinbase is dialing back on its aggressive hiring plans – a change that comes as the embattled crypto trading platform ...
Musk warns China’s economy could be triple the size of US’
Billionaire Tesla boss Elon Musk made a bold prediction this week about China’s growth, indicating that it could double or ...
Walmart shares tank 9% as inflation slams profit margins
Walmart’s quarterly profits sorely missed Wall Street’s forecasts despite higher sales, as higher costs from inflation, supply-chain snags and workers’ ...
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