Category: Economy
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And Interest Rates Continue to Rise in the U.S. But Until When?
This is undoubtedly the most aggressive interest rate hike campaign by the Federal Reserve (Fed), the North American Central Bank, in 40 years. On Wednesday (3), the institution raised its main short-term interest rate by a quarter of a percentage point, moving to a range of 5.00% to 5.25%, but signaled that it may now…
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The Two Largest Economies in Latin America Surprise with Growth Greater than Expected
Brazil and Mexico surprised investors with stronger-than-expected growth, according to data released on Friday (28), indicating that the largest economies in Latin America are holding up amid high interest rates and accelerating inflation. The economic activity of Brazil (GDP) rose 3.3% in February, according to the country’s central bank, about three times the increase of…
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Train Connecting Orlando and Miami to Start Operating This Summer
Brightline, the company that will operate a train line between Orlando and South Florida, is preparing to launch the service this summer. The company states that its trains can reach speeds of 130 mph – making it the fastest in the Southeast region. So, how long can travelers expect to take to get to Miami…
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Apple Wants to Be Your New Bank
Last week, Apple launched yet another service instead of new hardware. Users of the Apple Card can now open a savings account that offers a high-yield APY of 4.15% — a rate that is more than 10 times the national average. There are no fees, no minimum deposits, and no minimum balance requirements; users can…
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More Companies Are Laying Off Workers. A Sign of Economic Cooling?
BuzzFeed, Lyft, Whole Foods, and Deloitte recently announced layoffs that affected thousands of American workers, joining a growing list of companies reducing their workforce amid economic concerns.
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Increase in Thefts Leads Stores to Place Merchandise Behind Glass
A Target in San Francisco has placed absolutely all of its products behind locked glass amid a theft crisis that has been harming retailers in the city.
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Reverse ATMs Dispense Cash and Skip Cards
As stores, restaurants, and various other types of businesses try to become completely cash-free, a new type of ATM is increasingly being installed in businesses across the country. The “reverse ATMs” dispense cards with stored value. The businesses that are avoiding cash—a trend accelerated by the pandemic—are led by amusement parks, casinos, and sports stadiums,…
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Bed Bath Beyond Declares Bankruptcy
The traditional home goods retailer Bed Bath & Beyond and baby goods store Buy Buy Baby announced on Sunday (23) that it was filing for bankruptcy protection, the result of a long period of declining sales and the company’s inability to keep up with the rise of online shopping. The 52-year-old retailer said it would…
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The Cost of Spreading Fake News: Fox News Faces a Loss of Over $787 Million
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Fox News will pay over $787 million to Dominion Voting Systems after the two companies reached a last-minute settlement on Tuesday (18) in the defamation case brought by the company that produces and sells hardware and software for electronic voting against the news network. The Dominion accused Fox News of destroying its reputation by knowingly…
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Tax Credit for Electric Car Purchases Becomes More Restrictive
New rules for obtaining tax credits for the purchase of electric cars will come into effect on Tuesday, the 18th. American brands, such as Tesla and General Motors, will be the biggest beneficiaries.