Category: Economy
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Number of Foreign Tourists in Brazil Grows 108% in 2023
Brazil welcomed 2.97 million international tourists in the first five months of 2023. This number is 108% higher than that recorded from January to May last year. According to the Ministry of Tourism, in May alone, more than 292,300 people visited the country, representing a 44.5% increase compared to the same month in 2022. The…
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Bank of America Accused of Opening Fake Accounts and Charging Illegal Fees to Customers
Federal regulators announced on Tuesday (10) that they discovered Bank of America harmed customers by doubling fees, withholding credit card rewards, and opening fake accounts, in violation of several consumer financial protection laws. As a result, the Consumer Financial Protection Bureau (CFPB) ordered Bank of America (BAC) to pay over $100 million to customers and…
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Public Transport Will Be Free in These American Cities
More major cities in the United States are allowing public transport passengers to board for free. Kansas City; Raleigh; Richmond; Olympia; Tucson; Alexandria, Virginia; and other cities are testing the elimination of fares in their public transport systems. Denver is canceling fares in its system this summer. Boston is testing three public bus routes with…
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Tomorrow Is Prime Day: How Amazon Transformed a Slow Sales Season into the Biggest Day of the Year for Businesses
Tomorrow Is Prime Day: How Amazon Transformed a Slow Sales Season into the Biggest Day of the Year for Businesses
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How Much Do You Need to Feel Rich in the U.S.?
How much do you need to feel financially secure? And to feel rich? More than 2,500 American adults said they would need to earn an average of $233,000 per year to feel financially secure and $483,000 annually to feel rich or achieve financial freedom, according to a new survey by Bankrate. For comparison, the average…
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Minimum Wage Increases in Several States
Many low-income workers have just received a pay raise, as more than a dozen states and cities have increased their minimum wages. The Oregon minimum wage has increased by 70 cents per hour to $14.20, effective July 1, while Nevada raised its minimum wage by 75 cents to $11.25. Washington, DC, increased its minimum wage…
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Global Economy on Precarious Ground Amid High Interest Rates
Global growth has sharply slowed, and the risk of financial stress in emerging market and developing economies (EMDEs) is intensifying amid high global interest rates, according to the latest Global Economic Prospects report from the World Bank. Global growth is expected to slow from 3.1% in 2022 to 2.1% in 2023. In EMDEs excluding China,…
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Supreme Court Rejects Biden’s Student Debt Forgiveness Plan
The Supreme Court of the United States decided on Friday (30) that the Biden administration exceeded its authority with its plan to eliminate over $400 billion in student debt, frustrating the hopes of tens of millions of borrowers and imposing new restrictions on presidential power. It was a setback for President Biden, who had promised…
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Is De-dollarization Really Happening?
Calls to stop relying on the US dollar for international trade are growing. More and more countries – from Brazil to Southeast Asian nations – are asking for trade to be conducted in currencies other than the US dollar. The US dollar has been the king of global trade for decades – not only because…
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What’s Behind the Delays and Cancellations of Domestic Airlines?
Thousands of passengers were stranded this week due to bad weather that canceled hundreds of flights in the United States.