Biggest Pay Raises Went to Black Workers, Young People and Low-Wage Earners
Synopsis by WSJ Jan 23 23
Median weekly earnings rose 7.4% last year, outpacing inflation; some groups notched ...Read full article 
WSJ: Biggest Pay Raises Went to Black Workers, Young People and Low-Wage Earners
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| Last Updated | Jan 23 23 |
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JPMorgan warns of need for ‘reality check’ on phasing out fossil fuels: US bank says higher interest rates, inflation and global conflict have dented outlook for ...
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Quick Glance: JPMorgan warns of Need for 'Reality Check' on Phasing out Fossil Fuels
- JPMorgan warns of setbacks in transitioning to renewable energy due to higher interest rates, inflation, and global conflicts.
- Investment in renewable energy currently offers subpar returns, potentially leading to social unrest.
- JPMorgan forecasts increasing demand for oil and gas until 2030, highlighting challenges in transitioning to renewable energy.
- Wood Mackenzie warns of the impact of higher interest rates on transitioning to a global net-zero economy, especially for renewables and nuclear power.
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Social Security cost of living boost in 2025? Early estimate calls for 2.6% increase
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Stock market today: Stocks slide for the 5th straight session: The S&P 500 hit its worst losing streak since last October as investors recalibrate amid forecasts ...
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How much money do you need to retire? Most Americans calculate $1.8 million, survey says.
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Billionaire In-N-Out heiress Lynsi Snyder claims she went 'toe-to-toe' to keep prices down as Calif. fast food industry, prices slammed by minimum wage hike
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Why is the economy so strong? New hires are spending more and upgrading their lifestyles
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America’s interest rates are unlikely to fall this year: That will squeeze financial markets and the world economy
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Senate passes reauthorization of key US surveillance program after midnight deadline
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US 'not involved in any offensive operation' after Israel carries retaliatory attacks against Iran
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Quick Glance: Record: Germans Hold 7716 Billion Euros in Wealth
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- Stocks and investment funds saw significant gains in the last quarter.
- Cash and bank deposits remain the largest component of wealth.
- Household net wealth increases by 244 billion euros to 5560 billion euros.
Bag of Rice Still Selling for Up to N84,000 in Lagos: To verify if a bag of rice indeed sells for N60,000, FIJ took to two food markets in Lagos to ask the ...
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Escalating Middle East tensions a fresh jolt to world markets: Reports of an Israeli attack on Iranian soil that possibly drags the Middle East into a deeper ...
reuters.com/markets/global-markets-middle-east-graphic-2024-04-19/
Quick Glance: Escalating Middle East Tensions Shake World Markets
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- Stocks fell, oil briefly rose over $3 per barrel, and safe-haven government bonds rallied.
- The heightened tensions bring fresh uncertainty and fuel concerns that high oil prices and potential supply disruptions will keep inflation high.
- Energy stocks benefit from higher oil prices, while demand for safe-havens like US or German bonds rises amid renewed inflation risks from rising oil.
College is hard enough — try doing it while raising kids: More than 5 million college students are also parents. But many colleges do little to support them ...
npr.org/2024/04/18/1243709966/college-student-parents-child-care-costs
Average mortgage holder spending record $2,800 on monthly payments: The median monthly mortgage payment jumped 11% in the past year due to surging interest rates ...
businessinsider.com/mortgage-payments-housing-market-interest-rates-house-prices-sales-2024-4
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- The rise in mortgage rates impacts monthly costs, limiting purchasing power.
- Uncertainty surrounding rate trends poses a decision dilemma for potential homebuyers.
- Experts anticipate a moderate easing of mortgage rates later in the year.
Petrol and diesel back to nearly €2 a litre as drivers hit by biggest price rise this year
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Should you wait for interest rate cuts to buy a house?: Once interest rates fall, property prices would likely go up, but buyers could borrow more money ...
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Heineken Ireland is latest to hike price of pint from June: Heineken Ireland has announced that the price of its draught products will increase from June 4.
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Philippines says decision to strengthen ties with Japan, US a 'sovereign choice': The Philippines' decision to ramp up ties with Japan and the United States is a ...
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US deficit poses ‘significant risks’ to global economy, warns IMF: Fund also cites concerns over fiscal ‘imbalances’ in UK, China and Italy
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Quick Glance: IMF Warns of Fiscal Deficits in US and China
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- Concerns were also raised about Chinese government debt, with the country projected to have a deficit of 7.6 per cent in 2025, more than double the average for other emerging markets.
- In addition to the US and China, the fund named two more countries that “critically need to take policy action to address fundamental imbalances between spending and revenues”.
- The IMF noted that “large and sudden increases” in US borrowing costs typically lead to surges in government bond yields globally and exchange rate turbulence in emerging markets and developing economies.
Afghanistan: The latest on the Taliban takeover: Since the Taliban took power on August 15, 2021, living conditions for girls and women have deteriorated ...
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US to grow at double the rate of G7 peers this year, says IMF: Fund also upgrades inflation forecasts as strong demand and tight labour market delay possible Fed ...
ft.com/content/3b819571-662d-4185-9ca5-c7e682b55700
Quick Glance: IMF upgrades global growth forecast despite risks
- The International Monetary Fund slightly raised its global growth forecast on Tuesday, noting that the economy had proven 'surprisingly resilient' despite inflationary pressures and monetary policy shifts.
- IMF's chief economist, Pierre-Olivier Gourinchas, indicated that the global economy is heading for a 'soft landing,' with risks to the outlook now broadly balanced.
- While advanced economies are expected to lead the growth, dim prospects in China and other major emerging markets could impact global trade partners, according to the report.
- Despite Tuesday's brighter outlook, global growth remains low compared to historical standards, partly due to weak productivity growth and increasing geopolitical fragmentation.
UK inflation falls as crumpet and meat prices drop: New official figures show that inflation, the rate at which prices rise over time, fell again in March.
bbc.com/news/business-68833077
Quick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
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Quick Glance: Brazil Moves to Relax Fiscal Targets Set a Year Ago
- The leftist administration of Luiz Inácio Lula da Silva wants more flexibility on budget surplus goals
- Brazilian President Luiz Inácio Lula da Silva’s government is seeking to loosen its own budget targets as investor concerns rise about the risk of fiscal slippage in Latin America’s largest economy
- Ministers intend to balance the budget next year, replacing the previous goal for income to exceed outgoings by 0.5 per cent of gross domestic product
- Analysts warn that the current deficit targets are unrealistic and likely to be tweaked, prompting investors to express concerns about Brazil’s economic approach under Lula
Donald Trump: How he becomes the star of a political thriller: A criminal trial that would make screenwriters green with envy begins in New York ...
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Quick Glance: Twelve Jurors Seated in Trump's Hush Money Trial
- A jury of 12 individuals was empaneled on Thursday in the landmark hush money trial of former President Donald Trump, bringing the proceedings closer to opening arguments and the commencement of weeks filled with compelling testimonies.
- The upcoming trial is anticipated to present unfavorable testimonies regarding Trump's personal life pre-presidency, including accusations of manipulating business records to suppress narratives in the final days of the 2016 election surrounding his intimate relationships.
- Central to the trial is a payment of $130,000 made by Cohen just before the 2016 election to adult film actress Stormy Daniels, aimed at preventing her allegations of a sexual encounter with Trump from being publicized in the campaign's final stretch.
- The selection of the jury holds paramount significance in any criminal proceeding, particularly so when the accused is a former president and the presumed Republican candidate. Potential jurors have undergone extensive scrutiny concerning their online presence, personal backgrounds, and political stances as legal representatives and the judge meticulously scrutinize for partialities that could compromise their impartiality.
Child sexual abuse content growing online with AI-made images, report says: More children and families extorted with AI-made photos and videos ...
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Rock icon slams Taylor Swift: ‘Not important’: Fan footage has shown the carefree moment Travis Kelce lifts Taylor Swift over his head during a Dom Dolla set at ...
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Quick Glance: Rock Icon Criticizes Taylor Swift: 'Not Important'
- Outspoken rock legend Courtney Love criticized Lana Del Rey, Madonna, and Taylor Swift in a new interview, stating that the latter is 'not important.'
- Love expressed negative views on Taylor Swift, calling her 'not important' and uninteresting as an artist, despite potentially being a safe space for girls.
- She also mentioned her ongoing feud with Madonna, dating back to their awkward encounter on MTV in 1995.
- Furthermore, Love harshly criticized Lana Del Rey, suggesting she delay the release of her upcoming album 'Lasso' until 2031 due to perceived overexposure.
'Rust' armorer Hannah Gutierrez-Reed sentencing: Watch live: A movie weapons supervisor has been sentenced to 18 months in prison for the fatal shooting of a ...
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Quick Glance: 'Rust' Armorer Sentenced to 18 Months in Fatal Shooting
- Former 'Rust' movie armorer, Hannah Gutierrez-Reed, was sentenced to 18 months in prison by the New Mexico District Court Judge.
- The incident that shocked the film industry is believed to mark the first instance in recent history of a member of a film crew or cast being fatally injured by a live round mistakenly loaded into a firearm.
- Baldwin's trial is scheduled for July 10 following his indictment for involuntary manslaughter in January.
- Initially, Hutchins' death led to a halt in the use of real firearms and blank ammunition by US film and television productions, but many have resumed usage due to the authenticity they provide.
After 100 Years, Lake Tahoe Is Seeing An Old Friend: The Sandhill Crane: Sandhill cranes are returning to the Lake Tahoe basin after a century long hiatus in ...
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America’s interest rates are unlikely to fall this year: That will squeeze financial markets and the world economy
economist.com/leaders/2024/04/17/americas-interest-rates-are-unlikely-to-fall-this-year
Trial kicks off with a setback for ex-President Trump: For the first time in US history, a criminal trial against an ex-president has begun ...
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Is it the right time to buy gold or wait as prices continue to soar: Is it the right time to buy gold as prices spiral?
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Business defaults soar as Australian house prices outpace the globe: Australian house prices are out-performing most of the world, even after inflation ...
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How California fast food restaurants raised menu prices in response to $20 minimum wage
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International Monetary Fund: Germany in last place among industrialized nations (again)
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Xi Jinping says China’s exports are helping ease global inflation: Chinese president warns German Chancellor Olaf Scholz against ‘rise of protectionism’
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Ringgit opens higher despite greenback strength: KUALA LUMPUR: The ringgit opened higher against the US dollar today although the greenback’s appeal as a ...
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Is It Time To Buy Gold Stocks And ETFs As Gold Futures Hit A High? Here's What Charts Show
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Joe Biden’s approval rating on the economy is rising among US voters: FT-Michigan Ross poll finds president’s gains could be derailed by persistent fears over ...
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Librarians fear new penalties, even prison, as activists challenge books: Across the country, book bans and attempted bans have soared to the highest levels in ...
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Boomers Bought Up the Big Homes. Now They’re Not Budging.: Many empty-nesters are staying put rather than downsizing, keeping housing inventory tight in a market ...
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Why child care costs are soaring: Wages in the industry have risen fast in the last few years — but they're still pretty low.
axios.com/2024/04/16/child-care-costs
Biden's new take on inflation: Trump would be worse: Biden's team knows there's not a lot it can do to lower it before the Nov. 5 election.
axios.com/2024/04/13/biden-trump-inflation-worse-tariffs
Quick Glance: Biden's New Perspective on Inflation: Trump Would Be Worse
- The White House warns that inflation would worsen if Trump is re-elected as a strategy to sway voters.
- March's inflation increase surpassed expectations, undermining Biden's claim of lowering prices.
- Rising oil prices due to geopolitical tensions could lead to higher gas prices, a concern for the White House.
- Biden emphasizes fighting inflation as top priority while experts debate the impact of his economic stimulus packages.
Concern for Bank of England as real earnings growth at highest rate since 2021: While the wage figures are good news for households on the face of it ...
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Quick Glance: Rising Real Earnings Growth Raises Concerns at Bank of England
- An unexpectedly weaker decline in the pace of wage increases has led to real earnings growth reaching its highest level in nearly two and a half years when considering inflation, according to the latest official data.
- Recent official figures indicate that average regular pay without bonuses was at 6% in the three months to February compared to the previous year.
- The broader ONS statistics revealed an increase in the UK's unemployment rate from 3.9% to 4.2%, with caution due to ongoing efforts to enhance the reliability of employment data.
- The forthcoming inflation data expected on Wednesday is likely to demonstrate further progress towards the Bank's objectives and the potential for a decrease from the current 5.25% interest rate.
Caitlin Clark Takes Down Michael Che Over His Women's Sports Digs On 'Weekend Update'
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US and India stoke hopes of global growth in 2024 : FT-Brookings Tiger index shows ‘positive omens’ for modest pick-up compared with last year
ft.com/content/7d1199bb-8283-49c3-801e-249938bcbae8
The shadow of war darkens on the global economy: Short-term performance has been surprisingly good but policymakers are walking on eggshells
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Basic tax-free allowance: 244,000 pensioners do not have to pay taxes: The basic tax-free allowance was increased at the turn of the year to compensate for ...
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What the key interest rates mean for savers: Inflation is falling - the ECB is heading for a possible first interest rate cut. Consumers could already be feeling ...
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Letitia James Celebrates Two Wins in One Week: James reached an agreement with Stephen Affatato and his company, Affa Organics, after he destroyed parts of the ...
newsweek.com/letitia-james-celebrates-2-wins-one-week-1889853
Impending escalation: Israel's military on full alert due to possible Iranian retaliation
spiegel.de/ausland/israels-militaer-wegen-moeglichen-vergeltungsschlags-irans-in-voller-alarmbereitschaft-a-d7788dbd-3ba5-438f-892c-e1bba7e879e4
California restaurant will up wages to compete with $20 fast-food pay: "Why wash dishes for $15 or $17 if I can go get $20 flipping burgers at McDonald's ...
businessinsider.com/california-fast-food-20-minimum-wage-restaurant-raise-pay-compete-2024-4
Quick Glance: California eateries adjust wages to meet competition with $20 fast-food pay
- A restaurant owner in California plans to raise wages to compete with the $20 per hour pay for fast-food workers.
- Legislation is expected to drive up wages in various sectors as they strive to attract and retain employees.
- The increased minimum wages worsen the existing challenges faced by independent restaurants in California.
- Implementing price changes, cost-cutting strategies, and reduced operating hours could be potential measures to streamline operations.
March's inflation data had good and bad news about food: It's getting increasingly cheaper to eat at home.
axios.com/2024/04/10/march-cpi-food-inflation
Here are the tax brackets to file your 2023 taxes: The tax brackets for Americans will shift upward for tax year 2023, following a series of rule adjustments to ...
thehill.com/business/4595268-here-are-the-tax-brackets-to-file-your-2023-taxes/
Muslims as an electoral potential in the USA: Islam has been part of the nation since the USA was founded, and more and more immigrants from the Middle East and ...
nzz.ch/meinung/die-praesidentenmacher-muslimische-und-arabischstaemmige-amerikaner-ld.1824550
Gold is back — and it has a message for us: The precious metal’s surge may herald a whole new world
ft.com/content/bdcb7d8a-e958-4910-9d1b-a6a519812503
The Forever Stamp is forever rising in price. How does the U.S. cost compare globally?
npr.org/2024/04/12/1244273973/forever-stamp-cost-price-going-up-usps-postage
You might get more money in your Social Security check than expected next year: Here's why
foxbusiness.com/personal-finance/your-social-security-cola-increase-could-be-bigger-expected-next-year
Manuel Rocha, a former US ambassador, sentenced to 15 years for serving as secret agent for Cuba
apnews.com/article/manuel-rocha-spy-cuba-guilty-plea-8fd30500f4588129a195daaf2d720c13
Quick Glance: Former US Ambassador Sentenced for Spying for Cuba
- Former US ambassador Manuel Rocha was sentenced to 15 years in prison after admitting to working as a secret agent for Cuba for decades.
- Rocha accepted the penalty and paid a $500,000 fine after pleading guilty to acting on behalf of a foreign government.
- The swift criminal case avoided a trial that would have revealed the extent of Rocha's assistance to Cuba while working for the US State Department for twenty years.
- The sophistication of Cuban intelligence services was highlighted as Rocha's double-crossing went undetected for years, demonstrating his secret meetings with Cuban operatives and provision of false information to US officials.
Wall St Week Ahead Surging US energy shares reflect robust growth, inflation worries
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'Golden Bachelor' couple Gerry Turner and Theresa Nist announce they are divorcing
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Did your car insurance rate go up a lot even though you don’t drive much?: Drivers nationwide are facing the biggest car insurance rate increases since 1976.
cnn.com/2024/04/12/business/car-insurance-rate-go-up/
Why the US dollar is setting off alarm bells around the world: Suddenly, tension and uncertainty have gripped financial markets, making them highly volatile.
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BREAKING: The Republican-controlled US House of Representatives voted to reauthorize a controversial surveillance program ...
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More Malaysians seeking jobs in Singapore amid weakening ringgit, inflation: Recruiters
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Multinational giants urged to front supermarket inquiry for ‘playing hardball’: Australian retailers have turned their sights on global suppliers such as Nestle ...
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Wall Street traders keep underestimating America’s economic strength: It's the exact opposite of what happened in the 2010s
axios.com/2024/04/14/stock-market-bonds-interest-rates-us-economy
Coping with higher prices on smaller portions and chicken nuggets: The past few years have been tough financially for many of us, and it’s potentially changing ...
smh.com.au/business/the-economy/coping-with-higher-prices-on-smaller-portions-and-chicken-nuggets-20240411-p5fj5t.html
The New Magic Number for Retirement Is $1.46 Million. Here’s What It Tells Us.: There is no single formula for how much you need to save in your 401(k).
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Why is beer so expensive?: Inflation for most goods and services has been falling since late 2022, but the price of beer has risen at its fastest rate in decades ...
smh.com.au/politics/federal/why-is-beer-so-expensive-20240411-p5fj5n.html
UK facing food shortages and price rises after extreme weather: Heavy rain likely to cause low yields in Britain and other parts of Europe ...
theguardian.com/environment/2024/apr/16/uk-facing-food-shortages-and-price-rises-after-extreme-weather
Auto insurance premiums are skyrocketing. What's to blame?: Inflation accelerated more than expected in March, and an unsuspecting culprit may be to blame: auto ...
foxbusiness.com/economy/auto-insurance-premiums-are-skyrocketing-whats-blame
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