Twitter Inc. admitted overstating its audience figures by about 2 million users for about three years as it reported its Q1 results. “In March of 2019, we launched a feature that allowed people to link multiple separate accounts together in order to conveniently switch between accounts,” Twitter disclosed. “An error was made at that time, such that…
Broad-Based Euro Zone Inflation at Record High 7.5 Percent in April
FRANKFURT—Euro zone inflation inched up to a new record high as expected this month, making uncomfortable reading for European Central Bank (ECB) policymakers already worried that rapid price growth could become entrenched, creating a hard-to-break wage-price spiral. Inflation in the 19-country currency bloc rose to 7.5 percent in April from 7.4 percent in March, in…
Wall Street Closes Sharply Lower on Amazon Slump, Inflation Worries
Wall Street slid on Friday to its deepest daily losses since 2020, as Amazon slumped following a gloomy quarterly report, and as the biggest surge in monthly inflation since 2005 spooked investors already worried about rising interest rates. Amazon.com Inc. tumbled 14.05 percent in its steepest one-day drop since 2006, leaving the widely held stock…
US Consumer Spending Improved in March, but Inflation Continues to Rise
American consumer spending did better than expected in March, increasing by 1.1 percent amid strong demand for services, according to the Commerce Department on April 29. Economists are hopeful that the signs of positive consumer spending heading into the second quarter will offset fears of a recession, after the economy contracted in the first quarter. Consumers…
Key Inflation Measure Hit 40-Year-High; Consumer Spending Rises Sharply
An inflation measure closely tracked by the Federal Reserve hit a 40-year-high. The Commerce Department’s Personal Consumption Expenditures (PCE) price index increased by 6.6 percent in the 12 months from March last year, the highest annual gain since January 1982, outpacing February’s year over year gain of 6.3 percent. The PCE price index shot up 0.9…
Enviro Groups Pocket Millions from Wind Industry: Report
April 29, 2022
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AudubonBusiness & EconomyCompanieseconomyEnvironmentPolicies & Impactsright whaleScienceThe Epoch Times Featured ArticlesUSUS FeaturesUS NewswindWorld Wildlife Fund
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A new report shows that many high-profile environmental organizations take money from wind power companies, raising questions about their independence and objectivity as the Biden administration pursues large-scale offshore wind projects along the coasts of the United States. Titled “Conflicts of Interest,” the report was produced by the Save Right Whales Coalition, a group concerned about…
Amazon Shares Plunge in Biggest Drop Since 2006 After Posting $3.8 Billion Loss
Shares of Amazon.com Inc. fell 14.05 percent on Friday in its steepest one-day drop since 2006, leaving the widely held stock near two-year lows. Late on Thursday, the e-commerce giant delivered a disappointing quarter and outlook, swamped by higher costs. Amazon lost $3.8 billion in the first quarter of 2022, largely due to a slump in…
China’s Rise and Inflation’s Fall From 1982 Until COVID
April 29, 2022
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Business & EconomyBusiness ColumnistsChinaeconomyinflationOpinionShenzhenThinking About ChinaViewpoints
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Commentary My tour of China with Australian journalists in 1981 concluded with a tour of the Shenzhen Free Trade Zone—which at that stage was little more than a mass of concrete being laid by the Australian company CSR. If we saw China’s past in Shanghai, with the ludicrous decision of its economic boss—when he “followed…
Millions of Bees Used in Pollination Die in Airline Shipping
About 5 million honeybees bound for Alaska last weekend got waylaid when Delta Air Lines routed them through Atlanta, where most of the bees died after being left for hours in crates on the ground during hot weather. The bees were the first of two shipments ordered by Alaska beekeeper Sarah McElrea from a distributor…
Scary Report on the US Economy
Commentary A frightening economic report has come out of the Commerce Department: U.S. real gross domestic product (GDP) fell at a 1.4 percent annual rate during the first quarter of the year. Suddenly, the prospect of recession has become very real. A slowdown in the recovery was already evident, and recession is indeed on the…
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