U.S. corporate bankruptcies have reached their highest level since 2010. Many American companies have been stumbling in the wake of the pandemic due to increasing interest rates, supply-chain issues, and rising costs. Several of the firms have filed for bankruptcy after access to low interest loans and access to easy money began to wane. “For…
US Corporate Bankruptcies at Highest Level in 13 Years
May 10, 2023
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T-Mobile Closes San Francisco Flagship Store as Crime Spins Out of Control
May 10, 2023
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Business & MarketsCaliforniaCompaniesCrime & Public SafetyCrime and IncidentsDemocratseconomyJudiciaryNorthern CaliforniaPolicies & ImpactsPoliticsRegional & State NewsSan FranciscoShopliftingState Newst-mobileUSUS News
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T-Mobile became San Francisco’s latest retailer to flee the city’s downtown area in recent months, citing a drop in foot traffic and a rise in crime. The phone company’s two-story flagship store in San Francisco’s neighborhood of Union Square was permanently closed last month as havoc continues in the once-prominent business district. A note was left…
US Annual Inflation Rate Dips Below 5 Percent for First Time in 2 Years
The U.S. annual inflation rate slowed to 4.9 percent in April, down from 5 percent in March, according to the Bureau of Labor Statistics (BLS). This is slightly lower than the consensus estimate of 5 percent. This represented the 10th consecutive monthly drop in the annual inflation rate. The consumer price index (CPI) rose 0.4 percent…
McCarthy Criticizes Biden’s Possible Use of 14th Amendment to Override Debt Limit
May 10, 2023
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14th amendmentBusiness & Marketscongresseconomic policieseconomyJoe BidenKevin McCarthyPoliticsRepublicansUSUS News
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House Speaker Kevin McCarthy (R-Calif.) on Tuesday criticized President Joe Biden’s veiled threat to invoke the 14th Amendment as a way to override the debt ceiling and avert a possible default, with the two politicians fresh off a meeting with no breakthrough on the debt limit standoff. Biden on Tuesday confirmed that he’s looking at…
Musk Warns WhatsApp ‘Cannot Be Trusted,’ Says Twitter Will Soon Allow Voice Calls, Encrypted Messaging
May 10, 2023
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Business & MarketsCompaniesElon MuskMedia & Big TechSocial MediaTechTech NewsTwitterUSUS NewsWhatsapp
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Twitter will soon allow users to make video and voice calls and send encrypted messages, CEO Elon Musk has said. Musk took to the platform on May 9 to announce a string of new features that will be coming to Twitter soon. “With latest version of app [sic], you can DM [direct message] reply to any…
Qantas Appeals to High Court Over Illegal Staff Cut During COVID-19 Pandemic
Australia’s flag carrier Qantas has appealed to the country’s highest court to overturn a ruling that the company illegally laid off nearly 1,700 workers during the COVID-19 pandemic. This comes after the airline lost its appeal against a Federal Court decision in May 2022. In 2020, Qantas announced that it would outsource ground handling operations…
Australian PM Rejects Inflation Concerns as New Budget Announced
Australian Prime Minister Anthony Albanese has assured the public that the latest round of government relief for low-income Australians would not fuel inflation amid warnings from the opposition. In an interview with ABC Radio on May 10, the prime minister reiterated the government’s views that the $14.6 billion living cost package outlined in the 2023-2024…
New Tax on Farmers Will Send Food Cost Soaring, Sector Warns
May 9, 2023
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AustraliaAustralia budget 2023Australian farmersBusiness & MarketsDavid Littleproudeconomypersonal financeWorld
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Farmers are warning the federal Labor government that its decision to ignore the sector and increase taxes on producers will force up the price of food, pushing the cost of living even higher. This comes as the federal government announced in the budget that it will introduce a new 10 percent levy on all domestic agricultural,…
New Tax on Australian Farmers Will Send Food Costs Soaring, Sector Warns
May 9, 2023
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AustraliaAustralia budget 2023Australian farmersBusiness & MarketsDavid Littleproudeconomypersonal financeWorld
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Farmers are warning the federal Labor government that its decision to ignore the sector’s suggestions and increase taxes on domestic producers will force up the price of food, pushing the cost of living for Australians even higher. This comes as the federal government announced in its budget released Tuesday that proposes introducing a new 10…
Economic Self-Sabotage Continues With Crazed Net-Zero Pursuit
Commentary The burgeoning cost of Australia’s pursuit of net-zero CO2 emissions by 2050 has just increased even further with the announcement of yet another bureaucracy. To be known as the “Net Zero Authority,” it will be lavished with taxpayer funds to pursue a hugely questionable policy and seek to mitigate its devastating impact. Officially, the…
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