CAPE CANAVERAL, Fla.—An auction for a ride into space next month alongside Jeff Bezos and his brother ended with a winning $28 million bid Saturday. The Amazon founder’s rocket company, Blue Origin, did not disclose the winner’s name following the live online auction. The identity will be revealed in a couple weeks—closer to the brief…
Lumber Is Wildly Expensive Now. Even Picnic Table Prices Are Through the Roof
By Andrew Khouri, Carly Olson, Andrew Mendez From Los Angeles Times The cost of a common commodity has scrambled summer plans, and it’s not gas: Soaring lumber prices are making new homes, renovations and even simple picnic tables drastically more expensive. At times, bills are coming in thousands or even hundreds of thousands of dollars…
Cruise Lines Say No Change in Sailing Plans After New COVID-19 Cases
Royal Caribbean Group and Carnival Corp will push ahead with a return to cruises this summer despite two guests onboard a test run for Royal Caribbean’s Celebrity Millennium ship testing positive for COVID-19. A year after several cruise ships were host to major coronavirus outbreaks, cruise lines have been striving to get business going. Shares…
US Inflation Expectations Build in June Survey of Economists
By Olivia Rockeman and Sarina Yoo From Bloomberg News Economists’ inflation expectations keep rising as a variety of key metrics underscore building price pressures. Forecasters raised their estimates for the consumer price index and for a key inflation gauge favored by the Federal Reserve, known as the personal consumption expenditures price index, every quarter through…
California Tells Public to Prepare for Heatwave, Power Prices Soar
June 11, 2021
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The California power grid operator told the public to prepare to conserve energy next week if needed as homes and businesses crank up their air conditioners to escape what is forecast to be a brutal heatwave. Already, power prices across the U.S. West spiked to their highest since the February freeze when natural gas pipelines…
Pennsylvania’s Energy Bills Could Rise by $1,150 Annually by Joining RGGI: Expert
June 9, 2021
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Senate Bill 119 (SBL 119), which seeks to prevent Pennsylvania’s governor from advocating for membership in the Regional Greenhouse Gas Initiative (RGGI) framework agreement, is awaiting a final vote. The Pennsylvania Senate Environmental Resources and Energy Committee (ERE) approved the bill on April 27. However, the governor will veto SBL 119 if it passes, said…
Making Canada a Destination Not a Hunting Ground for Innovation
Canada has a thriving innovation ecosystem but one with many smaller companies that are heavily dependent on foreign buyers to help them flourish and maximize the value of their intellectual property (IP), business analysts say. “We don’t have enough Canadian buyers interested in our own technology,” said Barry McKenna, author of two reports on Canadian…
Fastly Blames Global Internet Outage on Software Bug
LONDON—Fastly, the company hit by a major outage that caused many of the world’s top websites to go offline briefly this week, blamed the problem on a software bug that was triggered when a customer changed a setting. The problem at Fastly meant internet users couldn’t connect to a host of popular websites early Tuesday…
El Salvador Becomes First Country to Adopt Bitcoin as Legal Tender
SAN SALVADOR—El Salvador has become the first country in the world to formally adopt bitcoin as legal tender after Congress approved President Nayib Bukele’s proposal to embrace the cryptocurrency. With 62 out of 84 possible votes, a majority of lawmakers voted in favor of the initiative to create a law that will formally adopt bitcoin,…
What Comes After Australia’s V-Shaped Economic Recovery?
Commentary The flow of economic data has so far made June a good news month for Australia, notwithstanding the abrupt resumption of COVID-19 restrictions had on economic activity in our second-largest state. National accounts—which provide the most comprehensive reading of the economic pulse—reported that the first quarter of 2021 was the third straight quarter of…
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