The number of job openings in the United States declined to 10.8 million in January, according to the Bureau of Labor Statistics Job Openings and Labor Turnover Summary (JOLTS) released on Wednesday.[0] Hires and separations from payrolls remained relatively unchanged at 6.4 million and 5.9 million, respectively.[1] Within separations, quits dropped to 3.9 million from […]
Continue reading The crypto industry’s recent meltdown has taken its toll on Silvergate Bank, with the company announcing plans to wind down operations and liquidate the bank on Wednesday. Silvergate said in a statement that the best path forward was an orderly wind down of bank operations and a voluntary liquidation of the bank.[0] The bank’s liquidation […]
Continue reading With inflation rates in 2021 and 2022 reaching the highest it has been in years, the Federal Reserve is committed to bringing the annual rate of inflation back to 2%. In a hearing with the Senate Banking Committee earlier this week, Federal Reserve Chairman Jerome Powell addressed the potential effects of increased energy production on […]
Continue reading China’s consumer inflation eased in February to a 12-month low, while its factory-gate prices showed an annual fall for a fifth month, official data showed on Thursday.[0] The consumer price index rose 1% last month from a year earlier, the National Bureau of Statistics said Thursday, the lowest level since February 2022, and well below […]
Continue reading On Wednesday, Jerome Powell, the Chair of the Federal Reserve, gave testimony to the House Financial Services Committee concerning lingering anxieties around inflation and recession.[0] He acknowledged that recent data has come in “stronger than expected,” which implies the ultimate level of rates “is likely to be higher than previously anticipated.”[1] This suggests that the […]
Continue reading In the wake of Russia’s invasion of Ukraine in February 2022, the United States and its allies imposed a range of economic sanctions on the country in an effort to limit its access to international finance, curb its oil exports, and blunt its military edge.[0] One year later, the efficacy of these sanctions is still […]
Continue reading In the wake of reports of the Federal Reserve’s Preferred gauge noting a rise in inflation in January, President Joe Biden says the US has made progress on inflation.[0] The president remarked that inflation for the year has decreased since the summer, and unemployment is still at an all-time low of 50 years.[1] Despite these […]
Continue reading On Thursday morning, police sources reported that Thomas H. Lee, a billionaire financier and investor, had died of a self-inflicted gunshot wound in his Manhattan office.[0] A pioneer in the private equity world and the founder and chairman of Lee Equity, Lee had served as chairman and CEO of Thomas H. Lee Partners, according to […]
Continue reading The United States, in coordination with its G7 partners, has taken a number of economic measures against Russia in response to the country’s continued aggression against Ukraine. On Friday, the US imposed a new series of sanctions against Russian banks, key industries, and individuals, as well as third-country persons believed to be helping Russia’s sanctions […]
Continue reading British supermarkets have been dealing with shortages in their fruit and vegetable aisles since the weekend due to a variety of factors, including transport problems and adverse weather.[0] The UK’s largest supermarkets, Tesco, Aldi, Asda and Morrisons, have imposed limits on certain products, such as tomatoes, peppers, cucumbers, lettuce, salad bags, broccoli, cauliflower and raspberries.[1] […]
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