After two years of remote working, Apple, Inc. employees have shown reluctance to return to the office, even as the tech giant advocates a hybrid work policy. It now appears that Apple’s return-to-office move could hurt the company more than earlier thought. What Happened Apple’s director of machine learning, Ian Goodfellow, has departed in protest of its return-to-work policy,…
Apple Machine Learning Director Said to Quit Over Tech Giant’s Return-to-Work Policy
Federal Reserve Rejects Notion It’s Behind the Curve, ‘Confident’ Inflation Will Fall to 2 Percent Target
The Federal Reserve can deploy 50-basis-point interest rate hikes for the next two to three meetings, says Atlanta Fed Bank President Raphael Bostic. Bostic, who was one of the first central bank officials to retire the term “transitory” last year, told Bloomberg that the institution does not need to be more aggressive than it already…
Bitcoin Tumbles to Lowest Value Since July 2021
The cryptocurrency bitcoin fell to its lowest value since July 2021 during May 9 trading amidst a fall in stock indexes as central banks around the world raised key interest rates. After opening at about $34,000, bitcoin was trading at $32,152 as of 16:38 UTC (12:38 p.m. Eastern time). Compared to the 2022 peak of…
US Gas Prices Jump Again to Near Record Highs
May 9, 2022
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American Automobile AssociationBusiness & Economyeconomygas pricesGasBuddyhigher oil pricesMarketsUSUS News
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Gas prices in America are once again moving along an upward trajectory, with Monday’s prices coming close to the record high seen in March. The average price of regular unleaded gas was $4.328 per gallon as of May 9, according to the American Automobile Association (AAA). The highest recorded average price was $4.331 per gallon…
Biden Administration Announces Discounted High-Speed Internet Program
May 9, 2022
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Bipartisan infrastructure lawBusiness & EconomyCompanieseconomic policieseconomyExecutive BranchinternetJoe BidenPoliticsTechTech NewsUSUS News
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The Biden administration announced Monday it’s launching a nationwide program for high-speed Internet at a discounted cost. The Affordable Connectivity Program (ACP) comes as part of the Bipartisan Infrastructure Law President Joe Biden signed last year, with $14.2 billion of the bill’s $1.2 trillion set aside for the program. The plan will “ensure the most…
P&O Ferries Ship Pride of Kent Under 4th Inspection After 3 Failings
A P&O Ferries vessel is under Port State Control (PSC) inspection for the fourth time on Monday after it failed three previous inspections. The UK’s Maritime and Coastguard Agency (MCA) said a team of surveyors was “carrying out a reinspection of Pride of Kent at the request of P&O Ferries.” The vessel has been moored at the…
Passengers Forced to Wait Outside UK Airport for Hours as Staff Shortage Persists
Thousands of passengers have been forced to wait for hours outside Birmingham Airport as the aviation sector across Europe continues to suffer from staff shortages. Frustrated passengers took to social media to slam the “absolute chaos,” with one person saying it took her “two hours to get through check-in and security,” and others threatening legal…
Inflation Is Killing the Working Class
Commentary Inflation “is destroying working folks’ pocketbooks and devaluing the wages they earn and the root cause … is way too much government spending, too many social programs … and vastly too much money creation by the Federal Reserve,” Larry Kudlow, former director of the U.S. National Economic Council, said on Feb. 14. During the…
Lockheed Martin to Double Javelin Missile Production to 4,000 per Year
American aerospace and defense giant Lockheed Martin Corp. has said it plans to nearly double its production of Javelin missiles in the next couple of years to help beef up U.S. supplies and aid to Ukraine. Lockheed Martin CEO James Taiclet announced the move in an interview on CBS’s “Face the Nation” on May 8. He said…
90 Percent of Nations Planning Central Bank Digital Currencies: Report
Nearly 90 percent of national central banks are planning to launch their own central bank digital currencies (CBDC) to the general public, according to a new report (pdf) from the Bank of International Settlements (BIS). BIS surveyed 81 central banks in fall 2021 regarding their engagement in CBDC work as well as their motivations and their intentions regarding CBDC…
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