The Bank of England (BoE) has raised interest rates from 4.25 percent to 4.5 percent marking their highest level in almost 15 years. It’s the bank’s 12th consecutive rate hike and a peak since October 2008. Governor Andrew Bailey said the BoE is now forecasting “modest but positive growth” instead of a “shallow but long recession”…
Supreme Court Upholds Restrictive California Pork Production Law
The Supreme Court narrowly upheld a voter-approved animal welfare law in California on May 11 that bans the sale of pork from hogs unless the animals were raised in a space that exceeds industry norms. The court split 5–4 in its ruling, which affirmed a decision by the U.S. Court of Appeals for the 9th Circuit….
Yellen Calls for a Different System to End ‘Tremendously Damaging’ Debt-Ceiling Standoffs
Treasury Secretary Janet Yellen on Thursday called for a different system of managing the country’s finances in order to prevent future debt-ceiling standoffs that she said were “tremendously damaging,” while reiterating her view that, in the near term, the only way to avoid the looming debt default is for Congress to lift the borrowing cap….
Wind Power Is UK’s Biggest Electricity Source for 1st Time
Wind turbines have generated more electricity than gas for the first time in the UK, figures show. Research from Imperial College London reveals almost a third, or 32.4 percent, of the country’s electricity was generated by on and offshore wind farms in the first quarter of the year. Gas-fired powered stations delivered 31.7 percent. The…
Is Inflation the New Normal?
Commentary Today finally ends the federal state of emergency for COVID. Along with that ends the terrible travel restrictions that have stopped the unvaccinated from visiting the land of the free. It seems incredible that we could ever become used to this. But it happened. And it went on for three years. This should serve…
Fox News Exec Reveals One Reason Why Tucker Carlson May Have Left
A Fox News executive revealed what may have been a key reason for Tucker Carlson’s sudden departure last month: ad sales. In an interview this week with Variety magazine, Fox News Vice President for Advertising Sales Jeff Collins said that big-name corporate advertisers have returned to Fox News’ 8 p.m. ET timeslot after Carlson departed….
Pacific Western Shares Slide as Bank Reports Deposits Fall, Pledges More Assets as Collateral
Shares of Pacific Western Bank fell again on May 10 after the lender confirmed it continued to see deposit outflows of nearly 10 percent in the first week of the month. The California-based lender disclosed in a securities filing that its deposits fell around 9.5 percent during the week of May 5, with the majority of withdrawals taking…
Gen Z Workers Are Saving More for Retirement: Study
Gen Z workers are participating in workplace retirement plans at higher rates than previous generations were at the same stage of their lives, according to a new study by the investment firm Vanguard. In 2021, 62 percent of workers between the ages of 18 and 24 participated in their company’s 401(k) plan, up from 30…
Elon Musk Invites Don Lemon to Create Show on Twitter
May 11, 2023
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Business & MarketsCNNCompaniesDon LemonElon MuskFox NewsMedia & Big TechTucker CarlsonTwitterUSUS News
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In the wake of Tucker Carlson’s viral announcement saying he’ll be bringing his top-rated show to Twitter, the social media’s CEO, Elon Musk, called on former CNN host Don Lemon to consider doing the same. Musk, an industrialist who purchased the social media platform last year, commented Wednesday on Lemon’s weeks-old cryptic Twitter statement in…
Musk Launches Twitter’s New Encrypted Messaging, but With Big Caveat: ‘Don’t Trust It Yet’
May 11, 2023
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Business & MarketsCompaniesElon Muskencrypted messagingMedia & Big TechSocial MediaTechTech NewsTwitterUSUS News
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Elon Musk on Thursday announced the official launch of Twitter’s new encrypted direct messaging (DM) function, urging users to give it a try, but warning that the encryption feature in the early version should not be trusted. “Early version of encrypted direct messages just launched,” Musk stated in a Thursday tweet. “Try it, but don’t…
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