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July 4, 2022

Economy

Raising interest rates is the wrong solution to the inflation problem, analyst says

CNBC
CNBC – For more and to sign up click here Raising interest rates to tame demand — and therefore inflation — is not the right solution, as high prices have been driven mainly by supply chain shocks, one analyst said.  Global manufacturers and suppliers have been unable to produce and......

Stock futures inch higher after another losing week on Wall Street

CNBC
CNBC – For more and to sign up click here Traders on the floor of the NYSE, July 1, 2022. Source: NYSE Stock futures inched higher in overnight trading after the major averages finished another losing week. Stock futures tied to the Dow Jones Industrial Average rose 18 points or......

Eye Opener: Fourth of July travel back in full swing, creating chaos at airports

CBS News
CBS News – For more and to sign up click here Eye Opener: Fourth of July travel back in full swing, creating chaos at airports – CBS News Watch CBS News Fourth of July travel returned in full swing with thousands of flight delays and cancellations. Also, the Jan. 6......

Turkey’s annual inflation soars to almost 79%, hitting highest level in 24 years

CNBC
CNBC – For more and to sign up click here Shoppers stroll the aisles of a bazaar in Konya, Turkey. The country is experiencing brutal inflation, with food and non-alcoholic beverage prices rising 70.3% year over year for March. Diego Cupolo | Nurphoto | Getty Images Inflation in Turkey rose......

Thailand ends almost all travel restrictions — but one key rule remains

CNBC
CNBC – For more and to sign up click here Travelers wondering what it’s like to visit Thailand now may be interested to know the country is “allowing almost everything” again. That’s according to the Tourism Authority of Thailand (TAT), the governmental entity responsible for promoting tourism to the country.......

The G-7 is considering a price cap on Russian oil. But energy analysts think it’s impossible

CNBC
CNBC – For more and to sign up click here The G7 has floated the idea of an oil price cap, but experts are doubtful about how effective this would be. Picture Alliance | Picture Alliance | Getty Images The world’s seven-largest industrialized economies have floated the idea of a......

Argentine president scrambles to replace economy chief after Guzman exit

Reuters
BUENOS AIRES, July 3 (Reuters) – Argentine President Alberto Fernandez held meetings and telephone calls on Sunday morning as he scrambled to find a new economy minister, official sources said, after the exit of ally Martin Guzman. “No news,” a government spokesperson told Reuters on Sunday morning. Guzman, 39, submitted......

Economy passengers could soon lie down on airplanes—meet the airline that’s doing it first

CNBC
CNBC – For more and to sign up click here Economy flights practically guarantee a stiff neck, a child kicking the back of your seat and competition with your seatmate to claim the middle seat’s armrests. One airline wants to cure to these traveling ailments: Air New Zealand recently announced......

Argentina government crises build as Economy Minister Guzman resigns

Reuters
Argentina’s Economy Minister Martin Guzman poses for a picture before an interview with Reuters at the Economy Ministry, in Buenos Aires, Argentina December 10, 2020. REUTERS/Agustin Marcarian Register now for FREE unlimited access to Reuters.com Register BUENOS AIRES, July 2 (Reuters) – Argentina’s economy minister Martin Guzman resigned on Saturday,......

FTX signs a deal giving it the option to buy crypto lender BlockFi

CNBC
CNBC – For more and to sign up click here Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, at the Bitcoin 2021 conference in Miami, Florida, on June 5, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images FTX has signed a deal giving it the option to buy crypto lending......

Stocks suffered their worst first half of the year since 1970. What’s next?

CBS News
CBS News – For more and to sign up click here Americans with stock portfolios or retirement investment plans would likely prefer to forget the last six months. The S&P 500, Wall Street’s broad benchmark for many stock funds, lost 20% through the end of June after starting the year......

There’s a massive pile-up of car, furniture exports bound for U.S. and it’s spreading across European ports

CNBC
CNBC – For more and to sign up click here Labor slowdowns and strikes at the German and Netherland ports are creating a massive pile-up of export containers bound for the U.S. that will take months to clear out. According to the bills of lading found through ImportGenius, some of......

5 ways to stay on top of the stocks you own — and ones you’re looking to buy

CNBC
CNBC – For more and to sign up click here Traders work on the floor of the New York Stock Exchangeafter New York City Mayor Eric Adams rang the Opening Bell at the New York Stock Exchangeon February 28, 2022 in New York, New York. Stocks plunged over 400 points......

Atlanta Fed GDP tracker shows the U.S. economy is likely in a recession

CNBC
CNBC – For more and to sign up click here Federal Reserve Chair Jerome Powell reacts as he testifies before a Senate Banking, Housing, and Urban Affairs Committee hearing on the “Semiannual Monetary Policy Report to the Congress”, on Capitol Hill in Washington, D.C., U.S., June 22, 2022.  Elizabeth Frantz......

Ohio Governor DeWine says Intel delay on $20 billion chip plant is about ‘leverage’

CNBC
CNBC – For more and to sign up click here Ohio Gov. Mike DeWine still has high hopes for Intel, even after the company announced that its plan for a massive semiconductor plant east of Columbus could see its scope scaled back or construction delayed. “I truly believe that this......

Stocks making the biggest moves premarket: Kohl’s, Micron, Apple and more

CNBC
CNBC – For more and to sign up click here Check out the companies making headlines before the bell: Kohl’s (KSS) – Kohl’s tumbled 17.9% in premarket trading after the retailer confirmed an earlier CNBC report that it ended talks to be bought by Vitamin Shoppe parent Franchise Group (FRG).......

Forget the Eiffel Tower. Here’s where the French travel in France

CNBC
CNBC – For more and to sign up click here International travelers may prioritize visits to the Eiffel Tower and the Louvre when they visit France.     But French residents have other ideas. Border restrictions during the pandemic largely gave locals the chance to explore their country without foreign tourists,......

Natural gas drops 16%, posts worst month in more than three years

CNBC
CNBC – For more and to sign up click here A liquid natural gas (LNG) tank. Artinun Prekmoung / Eyeem | Eyeem | Getty Images U.S. natural gas futures plunged below $6 per million British thermal units on Thursday, after an inventory report showed a larger-than-expected storage build, sparking fears......

The market’s worst first half in 50 years has all come down to one thing

CNBC
CNBC – For more and to sign up click here Traders on the floor of the NYSE, June 29, 2022. Source: NYSE A multitude of factors conspired to generate the stock market’s worst first-half since 1970, but they all emanated from one word: Inflation. The cost of living started the......

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