By Nathalie Voit According to the latest Adobe digital data, online inflation in November rose a record 3.5% year-over-year (YoY). Month-to-month (MoM), prices did dip 2% due to holiday discounts. Nonetheless, the discounts were insufficient to offset the severe surge in online consumer prices. Thursday’s figure marks the highest annual pricing growth increase since Adobe [...]
By Nathalie Voit GameStop Corp. (NYSE: GME) shares were down over 10% to $155.76 by EOD Dec. 9 after the video game retailer posted dismal financial results for its latest fiscal quarter and unveiled new details of a Securities and Exchange Commission (SEC) subpoena. The company reported a net loss of $105.4 million, or $1.39 per share, for [...]
By Nathalie Voit Tech giant Microsoft was found guilty of discriminating against non-U.S. citizens based on their citizenship status by the Justice Department in a settlement agreement reached with Microsoft on Dec. 7. The DOJ said the multinational tech corporation repeatedly asked non-U.S. citizens during the early stages of its hiring process to provide “unnecessary [...]
By Nathalie Voit A significant outage in Amazon's cloud computing network disrupted a range of online services on Dec. 8, including services on major e-commerce websites, airlines, and streaming apps. The outage, which lasted over five hours, took many users by surprise. According to Amazon, a host of U.S. companies, from auto dealers to news [...]
By Nathalie Voit A federal judge temporarily halted implementation of President Joe Biden's vaccine mandate for federal contractors on Dec. 7, noting the White House executive order most likely falls outside the president's scope. "The Court acknowledges the tragic toll that the COVID-19 pandemic has wrought throughout the nation and the globe," wrote U.S. District Judge R. [...]
By Nathalie Voit The U.S. economy added just 210,000 jobs in November, data from the U.S. Bureau of Labor Statistics (BLS) released Dec. 3 revealed. The figures were far below economist expectations, which had predicted a gain of 550,000. The disappointing November jobs report, compounded with news of the newly identified Omicron variant of COVID-19, sent [...]
By Nathalie Voit Chief executives from seven major U.S. airway carriers will be summoned to testify before Congress on Dec. 8, according to an exclusive story from Reuters. The CEOs of American Airlines, Delta Airlines, Southwest Airlines, Alaska Airlines, United Airlines, Spirit Airlines, and JetBlue Airways are set to answer questions before the Senate Commerce Committee regarding [...]
By Nathalie Voit A new report from Dutch agribusiness banking specialist Rabobank warns that food inflation will likely persist in 2022 as higher farm input expenses, shipping costs, a labor shortfall, and strong global demand for agricultural commodities stabilize prices upwardly. “Inflation in this space is almost certainly not just ‘temporary,” wrote researchers led by head of [...]
By Nathalie Voit Jobless claims for the week ending Nov. 27 totaled 222,000, a report from the Department of Labor (DOL) released Dec. 2 revealed. Initial claims for unemployment insurance were higher than the previous week when first-time filings totaled a downwardly revised 194,000. Thursday's data shows jobless claims edging toward pre-pandemic levels, a sign of continuing [...]
By Nathalie Voit U.S. consumer confidence dropped to a nine-month low in November as ongoing worries about the COVID-19 virus and high inflation continued to grip the nation. The Consumer Confidence Index fell to 109.5 in November, down from 111.6 in October, the Conference Board reported Nov. 30. Tuesday’s results were the lowest since February when the [...]
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