Economic Report Us Employment Costs Jump Again and Offer Little Comfort to Fed in Inflation Fight
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Surging shipping costs could complicate Fed’s inflation fight
While supply shortages have eased greatly in the past few years, they have not entirely gone away.MarketWatch - Business - Inflation -
Tariffs Push Up Costs. But Not Always Inflation
Biden’s decision to raise tariffs on roughly $18 billion of goods from China has revived a long-running debate in economics over who ultimately pays such tariffs.The Wall Street Journal - World -
Why the post-Fed stock-market rally is raising fresh inflation questions
The issue is whether Fed Chair Jerome Powell’s post-meeting remarks on May 1 — in which he said the central bank’s next move is “unlikely” to be a rate hike — are now easing financial conditions by so much that this ends up stalling progress on ...MarketWatch - Business -
Fed’s Bostic expects inflation to keep coming down — but slowly
The U.S. economy is slowing down, albeit at a glacial pace, and this should help inflation continue to gradually cool, Atlanta Federal Reserve Bank President Raphael Bostic said Monday.MarketWatch - Business -
Putin visits China’s ‘Little Moscow’ as allies seek to cement economic ties – live
Leader visits city known for historically large Russian population on second day of visit. Putin and Xi announce plans to strengthen military ties in BeijingWhile Putin’s visit to China continues, back in Russia his deputy foreign minister has ...The Guardian - World - China -
Canada Goose jumps 16% after the company reports growth surge in China
Shares of Canada Goose soared 16% on Thursday after the apparel company reported better-than-expected revenue and earnings for its fiscal fourth quarter.CNBC - Business - China -
Beyond tariffs, US economic strength is key to containing China
By leveraging its economic strength and showing unwavering determination, the U.S. can reestablish its prestige, deterring and inhibiting the CCP from challenging Taiwan or the global order.The Hill - Politics - China -
GOP lawmaker on Feds, UFOs: 'Give us the information. Let us decide'
Rep. Tim Burchett (R-Tenn.) is calling on federal government leaders to declassify all documents related to unidentified aerial phenomena (UAP), arguing federal agencies must be transparent if they are going to be funding millions of dollars. ...The Hill - Politics -
The Papers: Alcohol abuse 'costs £27bn' and 'King's fighting spirit'
The public cost of alcohol abuse and the King's plans to travel for D-Day tributes lead the papers.BBC News - Top stories -
UK set for slower inflation than Eurozone and US
Drop in household energy bills set to push price growth close to Bank of England targetFinancial Times - Business - United Kingdom -
Brazil counts cost of worst-ever floods with little hope of waters receding soon
Death toll in southern state of Rio Grande do Sul increasing daily as authorities plan four ‘tent cities’ for 77,000 displaced people. Three weeks after one of Brazil’s worst-ever floods hit its southernmost state, killing 155 people and forcing ...The Guardian - World - Brazil -
Glynn's Take: RBA Gov. Bullock Alone in Fight to Tame Inflation
Reserve Bank of Australia Gov. Michele Bullock will have realized this week that she is now on her own when it comes to getting inflation down.The Wall Street Journal - World -
Fed’s Barkin says consumers are driving inflation. Here’s what they’re willing to pay more for.
The service sector “has changed their view” and believes consumers will accept higher prices and are going to raise them until households balk.MarketWatch - Business -
Treasury yields climb for third straight day after flurry of Fedspeak
Treasury yields ticked higher on Monday, rising for a third straight day as several senior Federal Reserve officials warned that the central bank likely faces a slower path toward reaching its inflation target.MarketWatch - Business -
Mexico presidential candidates offer little detail to address country's violence in final debate
Yahoo News - World -
New York crypto personality used 'Seinfeld' joke in fraud, feds reveal
A New York man pleaded guilty to swindling people out of more that $1 million in a scheme that referenced the "Seinfeld" character George Costanza.CNBC - Business - New York -
70 years after Brown, we’re fighting the same battles over again
This is a good time to remind ourselves how much Brown changed this country, and how much we don’t want to backslide.The Hill - Politics -
Economic damage from climate change six times worse than thought – report
A 1C increase in global temperature leads to a 12% decline in world gross domestic product, researchers have found. The economic damage wrought by climate change is six times worse than previously thought, with global heating set to shrink wealth ...The Guardian - World - Climate -
These home remodeling projects offer the highest return on investment in history, report finds
Not all home renovations deliver the same return on investment, but some can pay off twofold, according to a recent report.CNBC - Business -
US offers condolences, criticism in aftermath of Iranian president’s death
The White House on Monday offered its condolences over the death of Iranian President Ebrahim Raisi in a helicopter crash, while simultaneously criticizing his human rights record and rejecting the suggestion that U.S. sanctions on Iran played a ...The Hill - Politics - Iran -
The Dow crossed 40000 for the first time, a milestone that appeared implausible a little more than two years ago when the Fed began raising interest rates to cool an overheated economy.
The Dow crossed 40000 for the first time, a milestone that appeared implausible a little more than two years ago when the Fed began raising interest rates to cool an overheated economy.The Wall Street Journal - World -
‘Reverse Yankee’ deals boom as Europe’s low borrowing costs lure US groups
American companies issue €30bn in euro-denominated bonds as investor demand for European corporate debt growsFinancial Times - Business -
Free the fridges! Make dishwashers great again! US conservatives have odd priorities | Emma Beddington
The latest victims of the culture wars? Woke white goods. Because, apparently, energy efficiency and lower electricity bills are unAmerican. If you’ve ever wished your dishwasher used more water, or found your fridge too cheap to run, help is at ...The Guardian - World -
Weather tracker: Tornado and hail risk as US storm season ramps up again
Low pressure also expected to raise temperatures in eastern Canada and north-east US, while temperatures plummet in west. After a lull in recent weeks, storm season in the US has begun to ramp up again, with 100mph winds and tennis ball-sized hail ...The Guardian - World -
Sunak says infected blood inquiry report marks a ‘day of shame for British state’ and offers ‘unequivocal apology’ – UK politics live
PM gives statement following report that found ‘subtle, pervasive and chilling’ cover-up by NHS and government. GB News has described the Ofcom ruling against it today (see 10.51am and 11.01am) as an “alarming development” that should “terrify” ...The Guardian - World - United Kingdom -
Max Verstappen clinched Imola, but it was too close for comfort
Lando Norris pushed Imola winner Verstappen to the very end, setting up a thrilling finish.ESPN - Sports -
Employers Come Under Fire Over Harassment of Teen Workers
Regulators have stepped up their pursuit of companies they say didn’t do enough to protect teenage employeesThe Wall Street Journal - Business -
WikiLeaks founder facing pivotal moment in long fight to stay out of US court
WikiLeaks founder Julian Assange faces what could be his final court hearing in England over whether he should be extradited to the United States to face spying chargesABC News - World -
Julian Assange faces judgement day in years-long fight to stay out of US court
WikiLeaks founder Julian Assange will face a British High Court on Monday to ultimately decide whether the accused classified information leaker will be extradited to the U.S. after more than a decade of legal battles. Assange has been in British ...The Hill - Politics -
Ryanair Announces Buyback as Profits Jump
The low-cost carrier will buy back $761 million worth of shares after its core earnings for the fiscal year rose 34%, and said it expected passenger numbers to increase depending on how well Boeing handles its delivery delays.The Wall Street Journal - World -
Introducing The Economics Show with Soumaya Keynes
On the first episode: has the US finally borrowed too much?Financial Times - World -
Is There an Alternative to the Little Black Dress?
Plenty of other garments can be used as the basis for simple, chic looks for a variety of occasions, our critic writes.The New York Times - Lifestyle -
Couples using project-management software to maintain relationships, New York Times reports
Corporate tools like Slack are apparently being used to maintain relationships, according to a new report from The New York Times, but not everyone is so fond of this kind of relationship organization. Erin Griffith, the reporter who looked into ...CBS News - Top stories - New York -
BMW, VW used parts made with Chinese forced labor, says Senate report
A Senate inquiry found BMW, Jaguar Land Rover and VW have bought parts made by a Chinese company sanctioned under a 2021 law for using forced labor.CBS News - Politics -
'Digital parents' comfort neglected Chinese youth through viral videos
Yahoo News - World -
An Economic Peace Plan for Gaza Is Bound to Fail
Unless it follows an unconditional surrender.The Wall Street Journal - World -
Vietnam to Prioritize Economic Growth as Challenges Mount
Yahoo News - World -
Chile Economy Posts Fastest Growth Since 2021 as Consumption Powers Recovery
Yahoo News - World -
The Cost of Competing With China
The Biden administration is betting that new China tariffs will be politically popular, even if they could slow the transition from fossil fuels.The New York Times - Top stories - China -
The Fed's Miracle Is Finally Back on the Table
Inflation is lower after months of hot readings, and investors love it.Inc. - Business