Economy

Biden energy policies promoting more 'inefficient technologies': Flynn

Biden energy policies promoting more ‘inefficient technologies’: Flynn

NEWYou can now listen to Fox News articles! Fox Business contributor Phil Flynn said that this is the first time we’re going to more inefficient technologies to replace technologies that don’t work,” arguing that this is “bad economics” on Friday’s “Hannity.” Phil Flynn: Listen, this is the first time in the history of the world …

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California's unemployment department faces another wave of fraud

California’s unemployment department faces another wave of fraud

California’s embattled Employment Development Department says they have seen yet another wave of fraud attempts. This time, again, hitting infection claims.The department said that the latest fraud involved the use of paper and fax claims. EDD said 47,000 claims are potentially fraudulent, with a dollar amount they said could be as high as $560 million. …

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Andrew Woods

Buckle up, turbulence ahead for the Las Vegas economy – The Nevada Independent

Over two years into the pandemic and its recovery, we now face an entirely new set of facts in the macroeconomy as we face a cooling economy and possibly another recession. Previously, loose monetary and expansionary fiscal policies saved the day for many people. The support for government programs to aid unemployed workers and small …

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UK imposes windfall tax on oil and gas company profits as inflation bites

UK imposes windfall tax on oil and gas company profits as inflation bites

Placeholder while article actions load Britain’s Conservative government announced Thursday a 25 percent windfall tax on the profits of oil and gas firms that would be used to support $19 billion in for low-income households struggling with a sharp spike in the cost of living. Chancellor Rishi Sunak said that the levy would be placed …

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Big Lots Stock Plummets After Surprise Q1 Loss As Inflation Bites

Big Lots Stock Plummets After Surprise Q1 Loss As Inflation Bites

Updated at 9:50 am EST Big Lots (BIG) – Get Big Lots, Inc. Report shares plunged lower Friday after the discount retailer posted a surprise first quarter loss amid what it called “significant” cost and margin pressures brought by the fastest US inflation in more than forty years. Big Lots said it lost $11.1 million, …

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Fed Study Reveals How Long US Consumers Expect Roaring Inflation to Persist

Fed Study Reveals How Long US Consumers Expect Roaring Inflation to Persist

A New York Fed research paper said American consumers expect no relief from high prices in the near-term, believing the current bout of roaring inflation will keep percolating for the next twelve months before finally losing steam over a three-year horizon. A new analysis from the New York Fed found that US consumers polled about …

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The Rise of Zombie Firms Risks Another Disastrous Crisis

The Rise of Zombie Firms Risks Another Disastrous Crisis

Such sweeping problems as soaring inflation, poor-quality jobs, or low growth may not seem related to the management style of The Office’s Michael Scott Paper Company or pyramid schemes like Elizabeth Holmes’s Theranos. Yet there may be more to this connection than meets the eye. The recovery after the COVID-19 crisis pointed to several weak …

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North Carolina business owners alarmed about inflation: This is 'uncharted territory'

North Carolina business owners alarmed about inflation: This is ‘uncharted territory’

NEWYou can now listen to Fox News articles! A North Carolina small business owner warns the current state of the US economy is “uncharted territory” as inflation and demand drive costs of consumer goods to new levels. “Fox & Friends Weekend” co-host Rachel Campos-Duffy spoke with diners at Wayside Family Restaurant in Concord, North Carolina, …

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