Demand for copper is surging. The red metal, considered a barometer for economic health, is a vital component for the construction and defense industries as well as a key component in electric cars, wind turbines and the power grid. But mining companies are having a hard time keeping up. Existing mines and projects under construction … Read more
Pixelseffect | E+ | Getty Images The pace of hiring remains strong for lower-earning Americans, holding steady above its pre-pandemic baseline even as the demand for higher-income workers has waned slightly, according to new data from Vanguard. The hires rate for the bottom third of workers by income (who earn less than $55,000 a year) … Read more
A Chinese worker looks on as a cargo ship is loaded at a port in Qingdao, eastern China’s Shandong province. AFP Contributor | AFP | Getty Images A perfect storm in global trade is creating a shipping container capacity crunch, fueling a sudden and surprise spike in ocean freight rates. The beginning of peak shipping … Read more
The rollout of the Biden administration’s CHIPS Act award money has so far focused on providing major awards for major companies, with just four leading-edge semiconductor manufacturers receiving the lion’s share of the $33 billion that has been allocated to this point. Now, with $6 billion remaining, the focus is shifting to sending smaller awards … Read more
People walk past a homeless man outside the New York Stock Exchange (NYSE) at Wall Street on January 18, 2023 in New York City. Angela Weiss | AFP | Getty Images More than half of Americans think the United States is in an economic recession, although gross domestic product has been increasing for the past … Read more
The Marriner S. Eccles Federal Reserve building during a renovation in Washington, DC, US, on Tuesday, Oct. 24, 2023. Valerie Plesch | Bloomberg | Getty Images Federal Reserve officials appear to have “no idea” what is happening when it comes to the inflation picture in the U.S., according to Julian Howard, lead investment director of … Read more
U.S. President Joe Biden delivers remarks on lowering costs for American families during a visit to Goffstown, New Hampshire, on March 11, 2024. Kevin Lamarque | Reuters President Joe Biden took a victory lap after Target announced it was lowering prices on groceries and other items — and hopes voters will give him the credit. … Read more
An exterior view of a Wendy’s fast-food restaurant in Bloomsburg, Pennsylvania, on May 19, 2024. Paul Weaver | SOPA Images | Getty Images Wendy’s will offer a $3 breakfast combination meal starting Monday, as restaurant chains look for new ways to drive sales while consumers pull back on dining out. The deal will include a … Read more
U.S. President Joe Biden departs the White House in Washington, U.S., for a campaign fundraiser in California, May 9, 2024. Craig Hudson | Reuters President Joe Biden has had it out for corporate America for much of his term. Over the past three years, he has worked to dethrone the interests of big businesses and … Read more
Aj_watt | E+ | Getty Images A recent Social Security report showed a strong economy has helped the program. Still, Social Security’s trust funds may be depleted in the next decade, if no changes happen sooner. Many Americans have a misplaced worry that benefits will disappear. “The biggest myth about Social Security is that when … Read more
