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Economy, Energy

Attack On Energy Sector: “Biden administration pauses new liquified natural gas development”

“…LNG is an important fuel source, particularly in Europe. Much of the gas comes from the Texas oil fields. It’s piped to terminals along the Gulf Coast, where it’s liquified and loaded into large ships. Late last week, however, the Biden… Continue Reading…

Economy

“Cargo theft spiked over 57% in 2023 vs. 2022, new data shows”

“…Nearly $130 million worth of goods was stolen in 2023, but since reporting cargo theft is not mandatory, the amount is likely higher than this, according to CargoNet… Cargo theft refers to goods being stolen at any point in the… Continue Reading…

Business

“Tencent loses over $43 billion in market value after China proposes new online gaming rules”

“Tencent lost about $43.5 billion in market value on Friday after China surprised financial markets with a fresh set of rules aimed at curbing excessive gaming and spending. The draft guidelines from China’s National Press and Publication Administration sank the Hong Kong-listed… Continue Reading…

Economy

“New Orleans braces for drinking water emergency from drought-stricken Mississippi River”

“Officials in Louisiana are in a race against time as salt water from the Gulf of Mexico threatens drinking water supplies in New Orleans and its surrounding areas because of unusually low levels in the drought-addled Mississippi River. New Orleans… Continue Reading…

Business

“New billionaire heirs overtake self-made ones as $5.2 trillion wealth transfer begins

“Billionaires minted in the latest year accumulated more wealth through inheritance than entrepreneurship for the first time since UBS started tracking the fortunes of the world’s richest almost a decade ago… “This is a theme we expect to see more of over the next… Continue Reading…

Economy

“73% of millennials are living paycheck to paycheck, new report finds”

“…Nearly three-quarters, or 73%, of adults ages 27 to 42 are living paycheck to paycheck, LendingClub found… As of March, 66% of Gen Zers were living paycheck to paycheck — up from 58% a year ago, according to LendingClub…” https://www.cnbc.com/2023/04/28/73percent-of-millennials-are-living-paycheck-to-paycheck-new-report-finds.html

Economy

“Consumer spending fell in October, according to new CNBC/NRF Retail Monitor tracking card transactions”

“… …” https://www.cnbc.com/2023/11/13/consumer-spending-fell-in-october-according-to-new-cnbc/nrf-retail-monitor-tracking-card-transactions.html This article is badly written. Anyway this is not good. Usually retail goes up during this time of the year.

Economy

“Burp tax causes pre-poll [anger] with New Zealand farmers”

“New Zealand has a plan to tax farmers for their livestock’s burps and farts — and it’s causing a stink ahead of Saturday’s general elections. The economy is driven by agriculture with around 10 million cattle and 25 million sheep… Continue Reading…

Banking

“Some banks see new cracks forming in a resilient US consumer”

“…Executives from Wells Fargo (WFC), Fifth Third Bancorp (FITB) and Capital One (COF) all said this past week that they are noticing a divergence between the two ends of their customer base, with lower income consumers feeling more pain on… Continue Reading…

Banking, Economy

“6 new nations are set to join BRICS. As the G7’s political counterweight grows, is the dollar at risk to a new rival?”

“On the final day of the annual BRICS summit in Johannesburg on Thursday, leaders of the group announced Saudi Arabia, Iran, Egypt, Argentina, Ethiopia, and the United Arab Emirates (UAE) will join their ranks starting Jan. 1… But Gregory Daco,… Continue Reading…