Commentary This morning’s release of April’s Consumer Price Index (CPI) data showing inflation had fallen from 5.0 percent in March to 4.9 percent annually was received as a disappointing reminder that inflation, while down from highs in the summer of 2022, is far from behind us. Yet there is increasing evidence to support the suspicion…
Forget the CPI: Real Inflation Is Much Higher
May 10, 2023
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A Missed Opportunity for Labor to Do the Hard Yards
Commentary Budgets set priorities. Be it a household, or business enterprise a budget will not only tell you about the source of anticipated income but also where the expenditure and investment for futureproofing is directed. Budgets provide a window into the thinking and aspirations of those involved. Government budgets are no different except for one…
Paramount Media Networks Announces Layoffs as MTV News Shuts Down
May 10, 2023
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Business & MarketsCompaniesEntertainmentEntertainment NewsEntertainment Studios Networkslayoff staffMedia & Big TechMTVParamount GlobalUSUS News
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MTV News will be shutting down as Paramount Media Networks announces layoffs, Showtime/MTV Entertainment Studios and Paramount Media Networks President Chris McCarthy announced on Tuesday. The layoffs come after months of internal deliberations about integration amid Showtime’s rebranding into Paramount+ With Showtime and will affect 25 percent of employees across the network media groups, with MTV News getting…
Seven Retailers Facing Fiscal Challenges
In 2022, retail sales were hammered by persistent high inflation and weak consumer demand—and 2023 isn’t much better. Economists from S&P Global Market anticipate only 0.5 percent sales growth, but that equals a 0.1 percent decline when accounting for inflation. Some retailers feel the pinch more than others and have begun closing stores. Even worse,…
Elon Musk Responds to Tucker Carlson Rumors
Twitter CEO Elon Musk on Tuesday responded to claims that he came to a deal with Tucker Carlson as the former Fox News host released a viral video saying he will be bringing his top-rated show to Twitter. Like any other user on the platform, according to Musk, Carlson will be subject to the same rules…
China Increases Its Use of Exit Bans
Commentary Xi Jinping has two big problems as a student of economics. One, he and his government seem to have no idea of what motivates people to invest and take economic risks. Two, Beijing seems unable to resist any exercise of power. Both these problems show clearly in Beijing’s heightened use of exit bans against…
Increasing Competition in Canada: Simply Changing the Law Misses the Point, Says Economist
News Analysis Canada is abound with industries dominated by a handful of players, resulting in higher prices for consumers, less innovation, and weaker economic growth. Ottawa aims to increase competition by revising its outdated legal framework, but a veteran economist says it’s government actions that have been undercutting competition and continue to do so. “It’s…
Tesla Breaks Ground on Texas Lithium Refinery
Tesla Inc. on May 8 broke ground on its new lithium refinery in Corpus Christi, Texas, which CEO Elon Musk said should produce enough battery-grade metal to build 1 million electric vehicles by 2025. The move would make Tesla the only major car manufacturer in North America that will refine its own lithium. The facility…
EPA Proposals Could Lead to Multibillion-Dollar Economic Losses for US: Study
The U.S. Environmental Protection Agency’s (EPA) proposed regulations on air quality could end up costing the American economy billions of dollars and hundreds of thousands of jobs, said a report prepared by Oxford Economics for the National Association of Manufacturers (NAM). In January, the EPA proposed new standards seeking to lower fine particulate matter known…
California Police Department to Replace Vehicle Fleet With Teslas
May 10, 2023
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Business & MarketsCaliforniaCompanieseconomic policieseconomyenergypolice vehiclesPolicies & ImpactsRegional & State NewsSouth PasadenaSouthern CaliforniaState NewsteslaUS
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The South Pasadena Police Department announced its transition to an all-electric vehicle fleet by acquiring Tesla vehicles. The southern Californian police department said it would lease 20 electric 10 Model Ys and 10 Model 3s, for patrols, detective work, and other duties, for 60 months, which will cost the city nearly $2 million in funds. The…
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