Economy

How is the red-hot inflation hurting the common man?

 How is the red-hot inflation hurting the common man?

Inflation hits the common man hard. People are getting poorer dealing with this fastest inflation.

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China’s CATL to give TSLA a run for money with long-range EV battery

China’s CATL to give TSLA a run for money with long-range EV battery

(CATL), the biggest electric-car battery maker in the world has developed a new EV battery with a range of 1,000 km on a single charge.

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Strong US dollar spurs global currency war to curb inflation

Strong US dollar spurs global currency war to curb inflation

Global race to boost individual currencies to combat inflation will unleash a mayhem in world economy.

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Powell hints at possible recession as soft landing is 'challenging'

Powell hints at possible recession as soft landing is 'challenging'

Highlights,:,Fed Reserve chair Jerome Powell said a recession is a probability as a soft landing is difficult.,The Central Bank chair said steep rate hikes are justified to rein in inflation.,Similar rate hikes of up to 75 basis points likely in July.,In ...

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Tesla cars to become costlier in US as inflation stings

Tesla cars to become costlier in US as inflation stings

Leading electric vehicle manufacturer Tesla Inc. (Nasdaq: TSLA) has once again increased prices for all its car models in the US as a fallout of the ongoing global supply-chain woes and surging raw material costs. Tesla raised the price of its Mod...

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Toymaker Lego to invest US$1 bn on new US factory

Toymaker Lego to invest US$1 bn on new US factory

The world’s largest toymaker Lego announced on Wednesday about investing US$1 billion in a new factory in the US to address a growing demand for its brick in the region. The new factory, which will come up in Chesterfield County, Va., outsid...

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US retail sales drop 0.3%, first time in 5 months as auto sales dip

US retail sales drop 0.3%, first time in 5 months as auto sales dip

Highlights: US retail sales dipped 0.3% in May as auto purchases fell sharply. Despite a drop in auto sales, spending in gas stations surged, pointing toward a rising fuel cost. Restaurant sales, the Commerce Department’s only services c...

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US home equity touches record level at US$27.8 trillion in Q1

US home equity touches record level at US$27.8 trillion in Q1

US homeowners have currently more equity, which has touched the highest level ever. A Federal Reserve data reveals that US home equity grew almost 20% in the first quarter of 2022 to US$27.8 shattering the previous record. Data showed that tappabl...

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Why sending parcels may cost Aussies more?

Why sending parcels may cost Aussies more?

Highlights Postal service providers, including Australia Post, have announced massive bumps to their surcharge fees. High fuel and transportation costs emanating from Russia-Ukraine war have made things tougher for postal service providers. Th...

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Fed door open to 0.75% hike after inflation data, market moves

Fed door open to 0.75% hike after inflation data, market moves

  • June 14, 2022 02:31 AM PDT
  • Reuters

Highlights: Eroding inflation data has opened the door to a three-quarter-percentage point interest rate increase. Fed officials had earlier said they were considering a second straight half-point rate increase at the June 14-15 policy meeting....

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US luxury-home sales plunge the most since Covid-19 outbreak

US luxury-home sales plunge the most since Covid-19 outbreak

Highlights: The sale of luxury homes in the US fell the most since the pandemic broke out. Wealthy buyers recoil due to inflation, economic uncertainty, and a bearish stock market. Nassau County on New York’s Long Island saw the biggest ...

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