Maye Musk, the mother of Elon Musk, criticized a recent New York Times article targeting her son after it claimed that Musk grew up detached from apartheid-era atrocities in South Africa. Published Thursday, the NY Times alleged that Musk had “white privilege,” grew up in South Africa’s white communities, and was sheltered from the segregation…
Elon Musk’s Mother Criticizes NYT Article on Son’s ‘White Privilege’ Growing Up in South Africa
Weekly Jobless Claims Rise as Labor Output Hits Worst Decline in Production Rates Since 1947
U.S. labor output steeply declined in the first quarter of 2022, with its fastest drop in productivity in 75 years, while growth in unit labor costs accelerated, according to a May 5 report from the U.S. Bureau of Labor Statistics The government report indicated that rising wage pressures would continue to keep inflation elevated for the time…
Fuel Prices in US Rising Faster Than Crude Amid Increased Exports to Europe
The price of fuel across the United States surged faster than crude oil prices in the last month, leaving Americans still paying more at the pump. The skyrocketing price of fuel comes as the United States has shipped more refined products like gasoline, diesel, and fuel oil, abroad to supply European markets following Russian President Vladimir Putin’s…
US Economy Adds Better-Than-Expected 428,000 Jobs in April
The U.S. economy added 428,000 jobs in April, topping the market forecast of 391,000, according to the Bureau of Labor Statistics (BLS). The unemployment rate was unchanged at 3.6 percent. Average hourly earnings rose at an annualized rate of 5.5 percent. On a month-over-month basis, average hourly earnings edged up 0.3 percent, or 10 cents,…
How Major US Stock Indexes Fared Thursday
Stocks closed sharply lower on Wall Street as worries grow in markets that the higher interest rates the Federal Reserve is using in its fight against inflation will slow the economy. The S&P 500 pulled back sharply, erasing a rally from a day earlier and marking its biggest loss in almost two years. The Dow…
Groups Funded by George Soros, Unions, European Governments Irked by Twitter Takeover
May 6, 2022
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Business & Economycancel cultureCompaniesElon MuskFeatured TopicsMedia & Big TechSocial MediaTechTwitterUSUS News
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Elon Musk, the world’s wealthiest man, has become the target of left-wing organizations following his announcement of plans to buy out Twitter in order to foster free speech on the platform. Tesla CEO on May 3 called for an investigation into the groups that have urged businesses in a letter to boycott Twitter if Musk…
EU’s Proposal Banning Russian Oil Is ‘Nuclear Bomb’ for Hungary Economy, PM Says
The European Commission’s current proposal banning Russian oil imports is under threat after Hungary warned it cannot accept the ban, stating that it would amount to a “nuclear bomb” for its economy. Hungary’s Prime Minister Viktor Orban made the comments regarding the “unacceptable” proposal during an interview with public broadcaster Kossuth Radio on Friday. Orban said the…
Germany Seen Tipping Into Recession as Factory Output Suffers Sharp Drop: Economists
May 6, 2022
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Business & EconomyeconomyEuropeGermanyindustrial outputInternationalInvestmentMarketsrecessionRussia-Ukraine WarWorld
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Germany may be tipping into a recession amid a sharp drop in industrial production as many German firms faced difficulties completing orders due to supply chain snarls caused by ongoing pandemic restrictions and the Ukraine war. Data released on May 6 by Germany’s Federal Statistics Office showed that industrial output fell 3.9 percent month-over-month in…
Virgin Atlantic Flight Turns Back Mid-Air After It Emerged Pilot Was Still in Training
A Virgin Atlantic flight headed to New York was forced to turn back to London after it emerged one of the pilots hadn’t completed the airline’s final internal flying test. The Airbus A330—which can carry nearly 300 passengers—was ordered to return to London’s Heathrow Airport on Monday about 40 minutes into the flight bound for…
Shopify’s Revenue Growth Slowest in Seven Years, Shares Plunge
Canada’s Shopify Inc. reported its slowest quarterly revenue growth since going public in 2015 and delivered a big miss on profit, sending the company’s U.S.-listed shares tumbling 17 percent on Thursday. Easing global e-commerce growth from the frenetic pace seen during the peak of the pandemic has hit Shopify, which provides merchants tools and service…
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