Corporate profits have continued to soar, driving inflation while effectively reducing workers’ wages. The findings from the Australia Institute’s Centre for Future Work found salaries have not kept up with inflation as companies mark up prices and record sky-high revenues. The evidence “couldn’t be any clearer”, the centre’s director Jim Stanford said. Corporate profits will need […]
NEW YORK (AP) — Corporate profits may have already hit bottom: After falling for much of the last year, S&P 500 companies are expected to report 0.2% profit growth for the summer. While that sounds anemic, it would be the first quarter of growth in a year, according to FactSet. For three straight quarters, profits […]
Premier Blaine Higgs is pictured at a rally during the 2018 provincial election. The federal carbon tax is making things more expensive, but only by a fraction of a percentage point, says Bank of Canada governor Tiff Macklem. While politicians, including Higgs, are blaming hikes on federal spending, and namely the added cost at the pumps, it only appears to be a small piece of the puzzle.
By Arathy Somasekhar HOUSTON (Reuters) – Crude oil prices above $90 a barrel in the United States stirred worries that inflation could rise further in an economy where the Federal Reserve has already hiked interest rates steeply to control rising prices. Higher oil prices are a burden on global economies, raising costs for transportation and manufacturing while pressuring consumer spending. President Joe Biden’s administration last week polled oil refiners about operating plans, a sign of...
Corporate scandals have been on the rise for the past decade.
MADRID (Reuters) -Spanish national consumer prices rose 2.6% in the year through August, driven by the increased cost of fuel, up from a 2.3% increase during the 12 months through July, final data from the National Statistics Institute (INE) showed on Tuesday. The reading confirmed the flash estimate released by INE two weeks ago. Analysts polled by Reuters expected an average 2.6%. The annual inflation rate increase was mainly due to higher prices of fuel and lubricants compared with the...
By Matt Egan, CNN New York (CNN) — US oil prices climbed above $90 a barrel on Thursday for the first time in 10 months, threatening to push gasoline prices even higher and heat up inflation across the economy. High oil prices have already created an unusual situation where gasoline is getting more expensive even
By Matt Egan, CNN New York (CNN) — US oil prices climbed above $90 a barrel on Thursday for the first time in 10 months, threatening to push gasoline prices even higher and heat up inflation across the economy. High oil prices have already created an unusual situation where gasoline is getting more expensive even
As many as 69 American firms defaulted on their debt during the first eight months of the year, marking a 176% jump from the same period of 2022, according to data from S&P.
Bitcoin moved above the $26,000 level on Wednesday, ahead of the upcoming inflation report in the United States. Consumer prices for August are expected to come in at 3.6%, up from 0.4% the month prior. Core inflation on the other hand is forecasted to fall to 4.3%, from 4.7% in July. Ethereum was back above […]
UAW Auto Strike Costs "Detroit 3" $250 Million In Lost Profit Every Day, Will Lead To Much More Inflation One week ago, when previewing the three events that are about to slam US GDP in the tail end of the 3rd and the 3th quarter (including the return of student loan payments, the UAW strike and the government shutdown), Goldman calculated that reduced auto production from a potential UAW strike would reduce quarterly annualized growth by 0.05-0.10% for each week it lasted, if all...
Peter Schiff: The Inflation War Is Over; Inflation Won! Via SchiffGold.com, After the August CPI data came out, Paul Krugman declared that the inflation war was over. The Biden administration and the Fed won the fight. In his podcast, Peter Schiff said he actually agrees with Krugman, at least in part. The inflation war is over. But who really won? Last week’s CPI data showed price inflation heating up again, driven by climbing oil prices. Despite CPI rising to 3.7% in August...