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The Restaurant Industry Reacts to a Messed-Up Economy Plagued by Shortages & Transportation Snags.
Restaurants ‘Have No Choice’ but To Raise Wages Even More, Strategist SaysJul 21, 2021 - 07:55:57 PDT
As restaurants struggle to fill jobs, they're raising employee wages — and prices.
Inflation took a toll on the U.K. public finances last month, driving interest payments on government debt to unprecedented levels.The Treasury paid 8.7 billion pounds ($11.8 billion) in interest in June, the most for any month since records began in 1997...
Blue Origin founder Jeff Bezos is being slammed for his “despicable” comments following his space flight Tuesday, in which he thanked Amazon employees and customers for financing his trip — including from many lawmakers who have urged the billionaire to pay his share of taxes here on Earth.
Treasury Secretary Janet Yellen will have to manage two separate sets of delicate negotiations this fall around a global corporate-tax accord, each with clashing deadlines that could threaten the ultimate success of the deal.
In January Grantham wrote an investor letter, "Waiting For the Last Dance," about an inflating bubble that "could well be the most important event of your investing lives."
The imminent return of the U.S. debt ceiling is causing angst for money-market traders once again.While the risk that Uncle Sam might default by missing a payment on a bill or two is minuscule, investors are wondering if and how the Treasury can slash its giant cash pile to the level the department has indicated would be consistent with its policies...
Jerome Powell’s term expires in February, but many expect him to keep his job. But if President Biden does seek change, Fed governor Lael Brainard is seen as the most likely candidate to succeed him.
The European Central Bank starts a potentially heated two-day meeting on Wednesday, with officials needing to decide how their newly unveiled monetary strategy affects near-term policy.After raising their inflation goal to 2% earlier this month and pledging to be “forceful or persistent” to hit it, the challenge for policy makers is to make clear what such...
Infrastructure Bill Is ‘Still Being Negotiated,’ Republicans To Block Key Senate VoteJul 21, 2021 - 06:51:22 PDT
"We're just not ready," Ohio Republican Sen. Rob Portman told CNBC of the vote to advance the infrastructure bill. "So we're going to vote no."
Gold prices eased on Wednesday as a stronger dollar and rebound in U.S. Treasury yields contended with the metal's safe-haven status.
The Federal Reserve effectively pawning about a trillion dollars of its ownership of the national debt in order to raise a trillion dollars in new money from new sources within about three months is a major new crack..
Bitcoin Climbs Back Above $30,000, Rebounding After a Sell-Off in CryptocurrenciesJul 21, 2021 - 05:49:15 PDT
The price of bitcoin rose almost 4% in the last 24 hours, to $30,798 at 5:25 a.m. ET, according to Coin Metrics data. Smaller cryptocurrencies ether and XRP also rebounded, up around 7% and 3% respectively.
What exactly is “transitory?” You and your wife may disagree on its meaning when your old friend asks if he can stay with you while he “Sorts things out.” The term is virtually worthless without some guiding context, as in “Honey, he’ll be out of here by Monday. Tuesday the latest.”
Higher rents and mortgage costs are quickly emerging as a pivotal indicator for the central bank.
The White House and U.S. congressional negotiators are scrambling to salvage a $1.2 trillion bipartisan infrastructure deal after Republicans balked at funding to enforce existing tax laws - a key way to pay for the plan - leaving both sides searching for a way forward.
The U.S. Congress will learn on Wednesday when the federal government will likely run out of money to pay its bills, setting the stage for the latest in a long series of fights over what is known as the debt ceiling.
National debt levels have climbed to nearly four times of GDP, while an increasing number of corporate bonds have defaulted in the last 18 months.
Johnson & Johnson Expects $2.5 Billion in Global Sales From COVID Vaccine This YearJul 21, 2021 - 05:27:18 PDT
its Covid-19 vaccine this year, even as concerns mount over the shot’s effectiveness against the delta variant.
U.S. Life Expectancy Dropped by 1.5 Years in 2020, Biggest Drop Since WWIIJul 21, 2021 - 05:22:40 PDT
The pandemic and drug overdoses helped drive the biggest one-year drop in average life expectancies in the U.S. last year, according new data from the CDC.