Stocks are not enjoying what Powell and Yellen are saying

Now that the Federal Reserve has announced the end of its pandemic-era stimulus program, the next question is how long it will take for it to be fully rolled out. This can happen sooner than most people expect. Jerome Powell, Federal Reserve Chairman, testified before the Senate: “At this point, the economy is very strong … Read more

The Christmas Price Index increased 5.7% from 2019

The index measures the cost of buying gifts from the classic holiday song, “12 Days of Christmas” — a holiday twist on the Bureau of Labor Statistics (BLS) Consumer Price Index. After a lackluster economic year in 2020, the cost of buying those twelve gifts is up 5.7% from 2019, to $41,1205.58. The Bureau of … Read more

Australia’s Westpac to likely pay $81 million for allegedly charging dead people, among other breaches

Australia’s No. 3 lender has admitted to six civil criminal cases brought by the country’s securities regulator, including allegations against banks, pensions, wealth management and now-dispossessed public insurance units. The Australian Securities and Investments Commission alleges that Westpac has been charged A$10 million ($7.2 million) in counseling fees for more than 11,000 deceased and distributing … Read more

Oil will spike to $150 in 2023, JPMorgan predicts

In a new report on Monday, JP Morgan (JPM) Customers have warned that Brent crude will hit $125 a barrel next year and $150 in 2023, in large part because OPEC doesn’t have as much firepower to respond to higher prices as many assume. “They don’t have the barrels. It’s a mirage,” Christian Malik, head … Read more

Lululemon claims Peloton is a ‘copycat’

The Canadian sportswear maker is suing Peloton in federal court in Los Angeles, seeking triple damages for its competitor’s alleged “willful” infringement of six design patents. Lululemon filed her lawsuit five days after Peloton filed her case in Manhattan federal court, seeking to declare Lululemon’s allegations groundless. Peloton and its attorney did not immediately respond … Read more

Amazon warehouse workers in Alabama will get another chance to unionize

The decision of the regional director of the National Labor Relations Board was announced on Monday. It follows an earlier recommendation from an NLRB hearing officer that there was enough misconduct by Amazon during the election to warrant a new vote. “Today’s decision confirms what we have been saying all along — that Amazon’s intimidation … Read more

‘Omicron’ cryptocurrency soars on new variant

The price of the digital token not yet disclosed, which Twitter (TWTR) Crypto tracker CoinGecko said the feed had just over 1,000 followers and rose nearly tenfold from Friday to Monday morning when it reached $688, before dropping 75%. The Omicron token, which its website describes as a “Treasury-backed decentralized currency protocol,” was trading at … Read more

How one local reporter’s instincts focused attention on the Ahmaud Arbery case

“Every national and global news story begins locally, sometimes with a single reporter determined to follow through and get to the truth,” CNN media correspondent Brian Stelter told Trusted Sources Sunday. This is what happened in the case of Ahmed Arbery. Hobbs was among the first to capture the story of a black man who … Read more