Lionel Messi was the world’s highest-paid athlete over the last year, according to the annual Forbes list released on Wednesday that had the Paris Saint-Germain forward ahead of the NBA’s LeBron James and Manchester United’s Cristiano Ronaldo. Messi earned $130 million, a figure which includes $55 million of endorsements, during the 12-month period ended May…
The Fed and the Sound of Inevitability
May 12, 2022
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Commentary “You hear that Mr. Anderson? That is the sound of inevitability.” – Agent Smith (The Matrix) In the movie Matrix, the hero, Neo or Mr. Anderson, is eventually able to escape from the chokehold of Agent Smith and avoid a collision with an approaching metro train (the “sound of inevitability”). The Federal Reserve, with…
Jerome Powell Confirmed by Senate for a Second Term as Fed Chair
May 12, 2022
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Business & Economycongresseconomic policieseconomyFederal Reserve Chairmaninflationjerome powellMarketsPoliticssenate confirmationUncategorizedUSUS News
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The U.S Senate reconfirmed Jerome H. Powell as the Federal Reserve chairman for a second four-year term on May 12, highlighting its confidence in the central bank’s recent policy decisions at a time of 40-year high inflation and a shaken post-pandemic economy. The Senate approved Powell by an 80–19 vote, with several Republicans and Democrats…
Excess Gas Drives Down Prices in UK, Even as Prices Across Europe Rise
An unprecedented supply glut of liquefied natural gas (LNG) has driven down wholesale gas prices in the United Kingdom to low levels, while across the English Channel, Europe struggles with high gas prices. Britain’s terminals are receiving LNG cargoes intended to be transported to Europe through subsea pipelines. However, “the rate of LNG imports has…
De Beers Unable to Raise Supplies While Diamond Prices Keep Rising
As some rough diamond markets see a rise in prices following Russia’s invasion of Ukraine, De Beers, one of the world’s leading diamond retailers, is finding it difficult to plug the supply gap the way it typically used to do in the past. The price of a small rough diamond has jumped by around 20…
Jobless Claims Climb Higher In Possible Sign of Labor Market Softening
New weekly filings for unemployment insurance—a proxy for layoffs—have risen above analysts’ expectations to a three-month high, prompting some economists to question whether the tight labor market is heading for a softer patch. First-time filings for unemployment insurance rose by 1,000 to 203,000 for the week ending on May 7, the Labor Department said in…
What’s Behind the US Baby Formula Shortage?
The baby formula shortage is intensifying in the United States, according to new Datasembly numbers. The retail information provider reported that out-of-stock (OOS) rates continue to climb nationwide, rising to 43 percent in the week ending May 8. This is up from the 30 to 40 percent readings in April. “Unfortunately, baby formula out-of-stock levels…
US Baby Formula Shortage Intensifies as Parents, Washington Scramble for Solution
The baby formula shortage is intensifying in the United States, according to new Datasembly numbers. The retail information provider reported that out-of-stock (OOS) rates continue to climb nationwide, rising to 43 percent in the week ending May 8. This is up from the 30 to 40 percent readings in April. “Unfortunately, baby formula out-of-stock levels…
Two Twitter Executives Flee Company Ahead of Elon Musk’s Takeover
Twitter confirmed it is pausing most hiring as two executives have left the company ahead of Elon Musk’s announced takeover. “We can confirm that Kayvon Beykpour and Bruce Falck are leaving Twitter. Jay Sullivan is the new GM of Bluebird and interim GM of Goldbird. Effective this week, we are pausing most hiring and backfills,…
Two Twitter Executives Leave Company Ahead of Elon Musk’s Takeover
Twitter confirmed it is pausing most hiring as two executives have left the company ahead of Elon Musk’s announced takeover. “We can confirm that Kayvon Beykpour and Bruce Falck are leaving Twitter. Jay Sullivan is the new GM of Bluebird and interim GM of Goldbird. Effective this week, we are pausing most hiring and backfills,…
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