Tag: Economy

Cisco Expects Revenue Growth as Supply Chain Pressures Ease

Cisco Systems Inc. gave a positive forecast for first-quarter sales as a COVID-19 recovery in China eases supply chain shortages and helps it meet demand for networking hardware, sending the company’s shares 5 percent higher in extended trading. The results announced on Wednesday suggest networking equipment makers have started overcoming the component crunch that had…


Coca-Cola and McDonald’s Left Russia—Their Brands Stayed Behind

NEW YORK/MOSCOW—Western companies with iconic brands like Coca-Cola that exit Russia face years of battling knockoffs and unauthorized imports clamoring to fill the void they leave behind, a risky bid as courts show little sympathy for firms that depart. Companies pulled back from Russia this spring after Moscow sent thousands of troops into Ukraine, in…


Australia’s Unemployment Rate Drops to 48-year Low

Australia’s unemployment rate fell again in July, hitting 3.4 percent–the lowest level in 48 years. While the unemployment rate for men slipped by 0.2 percent to 3.4 percent, women’s remained unchanged at 3.4 percent compared to June. In addition, data from the Australian Bureau of Statistics (ABS) indicated that the number of unemployed people in…


China’s Electricity Crisis Worsens as More Factories Suspend Operations During a Lingering Heatwave

China’s power crisis has worsened as more factories shutter while an extreme heatwave spreads across southwestern China, according to a report from Nikkei Asia on Aug. 17. The municipal authorities in Chongqing ordered all factories, including foreign-owned factories, to suspend operations through Aug. 24, in order to conserve power as the heatwave causes a surge…


Remote Work Spurs Digital Nomad Gold Rush

News Analysis Lockdowns and closures related to COVID-19 have unmoored millions of American employees from the office, perhaps permanently, swelling the ranks of so-called “digital nomads” who work and travel simultaneously. The growth of this nebulous population has, in turn, fueled a niche industry catering to the needs and desires of highly mobile employees. The…


Home Sales Drop 6 Percent in July as ‘Housing Recession’ Hits, Says NAR

Existing U.S. home sales have dropped 5.9 percent in July, the sixth consecutive month of decline, according to the National Association of Realtors (NAR), which admitted a “housing recession.” At a seasonally adjusted annual rate of 4.81 million, home sales are down 25.9 percent since January and 20.2 percent from a year ago. “The ongoing…


US Circuit Court Ruling Clears Biden Administration’s Executive Order Pausing New Oil and Gas Leases

The 5th Circuit Court of Appeals in New Orleans, on Aug. 17, cleared the way for the Biden administration’s pause on new oil, gas leasing on federal lands and waters, issued in 2021. A lower U.S. district court in Louisiana previously ordered that the administration to cease its moratorium on new oil and gas leasing on…


First Half of Potential $1,652 Direct Payment to Be Sent in Just 2 Weeks

Millions of Supplementary Security Income (SSI) recipients will get two payments in September due to timing. The first SSI payment totaling as much as $841 will be sent out starting on Sept. 1, while the second will arrive by the end of that month, according to the Social Security Administration. The payment is due to…


1st Half of Potential $1,652 Direct Payment to Be Sent in Just 2 Weeks

Millions of Supplementary Security Income (SSI) recipients will get two payments in September due to timing. The first SSI payment totaling as much as $841 will be sent out starting on Sept. 1, while the second will arrive by the end of that month, according to the Social Security Administration. The payment is due to…


A ‘Safe Space’ From Cancel Culture in Corporate America and Governmental Overreach

Over the past decade, the rise of “cancel culture” and “woke” ideology has drifted out of the college campus and into mainstream society, becoming what some critics have described as a “cancer” in the American workplace and in the halls of government. Thousands of individuals, including some CEOs, have faced discrimination for their beliefs or…