By Nathalie Voit The U.S. officially surpassed China as the top global bitcoin mining destination. The news comes as major mining companies based in China and Singapore have shifted operations to the U.S. following a crackdown on cryptocurrency by the Chinese government over the summer. The U.S.’s newfound status as the world’s premier bitcoin mining [...]
By Nathalie Voit Major chip manufacturing companies both abroad and at home expect the semiconductor shortage to persist well into 2022 or beyond. An array of industries, from automakers to consumer electronics firms, are dealing with a global chip shortage that executives say could persist through at least 2022. The worldwide chip shortage, prompted by [...]
By Nathalie Voit According to a special report released by the Energy Information Administration (EIA), U.S. retail prices for energy are expected to climb to multi-year highs. The agency predicts rising commodity prices to affect residential prices for all four major heating inputs for U.S. households: natural gas, propane, heating oil, and electricity. The pandemic-induced increase in [...]
By Nathalie Voit Despite rising inflation, American consumers are spending more than ever. Sales at retail stores swelled in September, increasing 0.7% on an adjusted basis from the previous month, according to data released Oct. 15 from the Commerce Department. Retail sales received a boost from price hikes and strong demand, even as the delta [...]
By Nathalie Voit Consumer prices in September soared past economists' expectations, prompting worries that rapid price increases will continue. According to data from the Bureau of Labor Statistics (BLS), the all-items Consumer Price Index (CPI) increased 5.4% in September from one year earlier, rendering it the worst inflationary spike since the summer of 2008. The index [...]
By Nathalie Voit In a testament to his conservative convictions, an investment professional with over twenty-five years' experience created an exchange-traded fund (ETF) that invests exclusively in 'woke-free' companies in the S&P 500. The fund, named the American Conservative Values ETF (ACVF), actively boycotts 27 companies (or roughly 27% of the S&P 500 market cap) for their 'hostility' [...]
By Nathalie Voit U.S. household growth sank to its lowest numbers in decades, according to a Pew Research Center analysis of 2020 census data. The 2020 census recorded 126.8 million occupied U.S. households, a 9% growth increase from the 116.7 million households recorded in the 2010 census. The single-digit growth rate of the [...]
By Nathalie Voit The International Monetary Fund (IMF) revised its 2021 global growth forecast downward amid persistent inflation, widespread supply-demand mismatches, and deteriorating pandemic dynamics. The group slashed growth prospects for the global economic recovery from 6.0% in its July report to 5.9%. In its latest World Economic Outlook report, released Oct. 12, the IMF cited [...]
By Nathalie Voit Southwest Airlines, one of the four major commercial airline carriers in the country, will comply with President Joe Biden’s executive order requiring employees to be vaccinated against Covid-19 amid a tumultuous weekend of cancellations, the airline announced on Oct. 12. The federal executive order, signed into law on Sept. 9, requires all federal contractors [...]
By Nathalie Voit Elon Musk revealed Tesla's plans to move its corporate headquarters from Palo Alto to Austin at its annual shareholder meeting on Oct. 7. Musk himself already moved to the Austin area from Los Angeles last year to oversee the construction of a new car plant known as "Gigafactory Austin" in Travis County. [...]
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