McDonald’s franchise owners are expressing concern and frustration over a new grading system the fast food giant is planning to roll out early next year, with some saying it is poor timing due to unprecedented pressures in the workforce. The company plans to enact the system, called Operations PACE, which stands for Performance and Customer […]
SILVER SPRING, Md. (AP) — Cryptocurrency trading platform Coinbase has lost half its value in the past week, including its biggest one-day drop ever on Wednesday as the famously volatile crypto market weathers yet another slump. Coinbase reported a $430 million net loss in the first quarter, or $1.98 per share, on declining sales and […]
The numbers: The US posted a budget surplus of $308 billion in April — the largest on record — owing to a large increase in federal taxes and lower spending after the end of government stimulus. Based on current trends, the government could register a budget deficit of under $1 trillion in fiscal 2022 for […]
Seniors and other people who rely on Social Security benefits could next year see their biggest cost-of-living adjustment since 1981, with an advocacy group for older Americans forecasting an 8.6% hike. The typical monthly Social Security check is about $1,658, which means beneficiaries could see an increase of $142.60 per month in early 2023, bringing […]
Elon Musk.REUTERS/Andrew Kelly Elon Musk said China will produce “some very strong companies,” praising the country’s workforce. By contrast, he said, “in America people are trying to avoid going to work at all.” Musk famously slept on the factory floor during the Model 3’s “production hell” back in 2018. Tesla and SpaceX CEO Elon Musk […]
Inflation remained elevated in April but eased off its 40-year high, signaling that a stomach-churning surge in consumer prices since last summer may have peaked. The consumer price index increased 8.3% annually, down from 8.5% in March, as a drop in gasoline prices offset a continuing run-up in food, rent and other costs, the Labor […]
Russian gas, a key source of energy for Germany and many other EU economies, had continued to flow uninterrupted through pipelines across Ukraine since President Vladimir Putin ordered troops to invade in February. But in a statement late Tuesday, the Ukrainian gas transmission system operator (GTSOU) said it had decided to suspend operations at a […]
Louis Alvarez | digitalvision | Getty Images Inflation is hovering near 40-year highs. The Consumer Price Index, a key inflation metric, increased 8.3% in April from a year ago, the largest jump since the summer of 1982, the US Department of Labor said Wednesday. While a slight reduction from the 8.5% rate in March, the […]
Bitcoin (BTC) sank below $30,000 on Wednesday, minutes after data showed US inflation was higher than expected in April. BTC dropped over 6% from intraday highs, and fell as low as $29,100. Other major cryptocurrencies also turned negative for the day after the reading. Ethereum is now down nearly 7%, while Binance Coin and Ripple […]
Inflation is showing no signs of slowing down, making it harder for workers to make ends meet. The Consumer Price Index increased 8.3% from a year ago, higher than the 8.1% estimate, according to the US Bureau of Statistics. Although it was down slightly from the March peak, inflation is still growing at the fastest […]