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Economy
The world may be careening toward a 1970s-style energy crisis — or worse
Unlike those infamous episodes, this one is not contained to oil."Now we have an oil crisis, a gas crisis and an electricity crisis at the same time," Fatih Birol, head of the International Energy Agency watchdog group, told Der Spiegel…
GM’s chief economist says U.S. inflation problems will improve
General Motors' chief economist said Thursday that she believes the country's inflation problems are only temporary and mostly the result of supply-chain bottlenecks — not last year's stimulus checks — and that they will likely ease up…
G-7’s infrastructure plan offers an alternative to China’s Belt and Road Initiative in a
The Group of 7 has announced a new infrastructure funding program that could rival China's Belt and Road Initiative. One expert says the G-7's plan offers hope to developing countries but it remains to be seen whether it can match the…
Inflation is so high, even Snoop Dogg’s blunt roller got a raise
On Tuesday, the rapper tweeted that even his professional blunt roller got a raise."Inflation," Snoop Dogg tweeted in response to a post by UberFacts, which said his full-time blunt roller makes between $40,000 to $50,000 a year. "Their…
Mitch McConnell says the labor shortage will be solved when people run out of stimulus
For over a year, lawmakers and businesses have been bemoaning how they can't find workers.Senate Minority…
New Latino media startup launches with historic $80M raise
Latina activists and entrepreneurs Jess Morales Rocketto and Stephanie Valencia have raised $80 million to launch a new Hispanic media company called the Latino Media Network.Why it matters: It's one of the largest capital raises for a…
Opinion | That Was the Stagflation That Was
On Wednesday the five-year breakeven inflation rate fell to 2.48 percent. If that doesn’t mean anything to you — which is completely forgivable if you aren’t a professional economy-watcher — try this: The wholesale price of gasoline has…
Substack lays off 13 employees, roughly 14% of company
Substack is laying off 13 people, around 14% of the company, according to a note sent to employees Wednesday by the company’s co-founder and CEO Chris Best obtained by Axios.Why it matters: The company is trying to reach profitability…
Most Americans expect inflation to get worse, Post-Schar School poll finds
Placeholder while article actions loadMost Americans expect inflation to get worse in the next year and are adjusting their spending habits in response to rising prices, according to a poll conducted by The Washington Post and George…
Oil prices will surge to $100 this year, Goldman Sachs warns
In a Monday evening report to clients, the Wall Street bank backed up its bullish call by citing "robust fundamentals" in the oil market, a "surprisingly large" supply deficit and diminishing firepower from OPEC and its allies. Goldman…