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Economy

“Most small businesses since 1974 are hiking prices to offset red-hot inflation”

“…The National Federation of Independent Businesses, a Tennessee-based association of small business owners, found that the net percent of owners raising average selling prices rose to 61% in January, a four-point increase from the previous month and the highest reading… Continue Reading…

Economy

“Inflation rises 7% over the past year, highest since 1982”

“…The consumer price index, a gauge that measures costs across dozens of items, increased 7%, according to the department’s Bureau of Labor Statistics. On a monthly basis, CPI increased 0.5%. Economists surveyed by Dow Jones had been expecting the measure to… Continue Reading…

Energy

“Oil and gas discoveries are at the lowest level since 1946”

“Oil and gas firms are having their worst year for new fossil fuel discoveries in decades and reserves are dwindling. The oil and gas industry is on track to discover just 4.7 billion barrels of oil equivalent (boe) by the… Continue Reading…

Economy

“American productivity fell by the largest amount since 1960”

“US labor market productivity tanked in the third quarter. Paychecks grew and the number of hours worked jumped, but workers’ output increased only at a moderate pace.Revisions to the data that were initially published a month ago show that the productivity drop was… Continue Reading…

Economy

“U.S. natural gas plummets more than 10%, following worst week since 2014”

“U.S. natural gas futures plunged more than 10% on Monday, falling to the lowest level since August on forecasts for warmer-than-expected winter temperatures. The leg lower builds on last week’s more than 24% loss, which was natural gas’ worst week since… Continue Reading…

Real Estate

“US home sales on track for the best year since 2006”

“Despite low inventory and rising prices, home sales inched higher in October, marking a second straight month of growth, according to a report from the National Association of Realtors.Sales of existing homes, which include single-family homes, townhomes, condominiums and co-ops,… Continue Reading…

Banking, Economy

“Wall Street bankers and traders are in line for the biggest bonus increases since 2009”

“ Wall Street is set to see the biggest bonus increases since the Great Recession after a busy and profitable 2021, according to a report from pay consultancy Johnson Associates. Overall bonuses for investment banking underwriters are forecast to jump… Continue Reading…

Economy

“U.S. Electricity Costs Surge Most Since 2009 as Weather Cools”

“The price of electricity in October increased 6.5% from the same month a year ago while consumer expenses paid to utilities for gas went up 28%, according to numbers released Wednesday by the U.S. Bureau of Labor Statistics. Fuel oil… Continue Reading…

Economy

“U.S. crude oil price tops $80 a barrel, the highest since 2014”

“West Texas Intermediate crude futures, the U.S. oil benchmark, crossed $80 per barrel on Friday for the first time since November 2014 as demand rebounds while supply remains tight. The U.S. oil benchmark jumped more than 2% to trade as… Continue Reading…

Business, Economy

“Natural gas drops 7%, sharpest decline since January following big run-up on supply concerns”

“Natural gas futures dipped as much as 8% on Wednesday, pulling back from a more than seven-year high above $6 per million British thermal units hit during the prior session. The contract for November delivery fell to a low of… Continue Reading…