WASHINGTON—U.S. retail sales increased solidly in March, boosted by record-high gasoline prices, but consumers are starting to feel the pinch of high inflation, with online spending posting back-to-back declines for the first time in more than a year. The report from the Commerce Department on Thursday, which also showed stronger retail sales growth in February…
Higher Gasoline Prices Flatter US Retail Sales; Consumers Remain Resilient
US Consumer Mood Brightens in Early April, Survey Shows
U.S. consumer sentiment rebounded unexpectedly in early April from a decade low with the strong job market lifting the outlook for wage growth and a fall in gasoline prices from the previous month’s record high helping to cap expectations for a further acceleration in inflation, a survey showed on Thursday. The University of Michigan’s Consumer…
Wife of Putin Ally Held in Ukraine Accuses Kyiv Authorities of Beating Her Husband
April 15, 2022
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accusedAllybeatBusiness & Economyeconomic policieseconomyEuropehusbandInternationalMarketsRussia-Ukraine WarUkraineVladimir PutinwifeWorld
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The wife of one of Russian President Vladimir Putin’s top allies in Ukraine said on Friday that he has been beaten by the Ukrainian security service while being interrogated in detention. At a news conference in Moscow, Viktor Medvedchuk’s wife Oksana Marchenko said that one of two photos released by Ukraine this week showed he…
Apple, Other Manufacturers Face Major Shipment Delays as CCP Quarantine Policies Squeeze Suppliers
Electronics giants like Apple, Dell, and Lenovo, will likely face serious shipping delays if the Chinese communist regime’s zero-tolerance COVID policies and subsequent lockdowns persist. The harsh restrictions are forcing manufacturers and suppliers to shut down, and closed loop arrangements become harder to maintain, analysts say. The CEOs of Huawei and XPeng are also warning…
GOP Lawmakers Praise Musk Offer to Take Over Twitter
Republican lawmakers on Capitol Hill praised tech billionaire Elon Musk after he made a bid on April 14 to purchase social media giant Twitter at $43 billion, a major premium per share over the company’s current trading price. Musk, who owns electric vehicle manufacturer Tesla Inc. and commercial space venture SpaceX, grounded his reasons for…
Investing in the Metaverse
Commentary Young people feel attraction to the metaverse that older folks cannot understand. Some young enthusiasts have even bought property in that entirely imaginary land—as an investment, they say. At first blush, this practice seems outlandish, but on reflection, metaverse investments are not that much different than other investments, hardly as revolutionary as the young…
What Is a Poison Pill and Why Is Twitter Taking It?
Twitter announced on Friday that its board of directors has unanimously adopted a “poison pill” defense to prevent Elon Musk from acquiring the company. If any business, person, or group acquires 15 percent or more of Twitter’s outstanding stock through a transaction not allowed by the board, according to the announcement, other stockholders will be…
Moody’s Says Russia May Have Defaulted on Obligations
Ratings agency Moody’s has warned that Russia might have defaulted on its debt since it tried to service its dollar bonds in rubles due to Western sanctions. “Russia reportedly made payments on two bonds maturing in 2022 and 2042 in rubles rather than US dollars which represents a change in payment terms relative to the…
US Pension Funds Invest Billions in Chinese Firms, Stoking National Security Concerns
April 15, 2022
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Recent actions by Republican lawmakers have called attention to the willingness of top U.S .pension funds to invest in Chinese companies that may have ties to the regime in Beijing and may play a role in enhancing the regime’s military and surveillance capabilities. Sen. Marco Rubio (R-Fla.) and two GOP colleagues, Sens. Tom Cotton (R-Ark.)…
The End of ‘Business as Usual’
Commentary The unique global geostrategic trends, gathering now for several years, seem ready to coalesce into the significant military and political implications before the end of the year. Combinations of the effects on inflation, food security, supply chain functioning, sociopolitical polarization, and global responses to the Ukraine conflict, by mid-April, seemed likely to lead to the…
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