Author: IA PressRoom

© Reuters. FILE PHOTO: People walk on a street in New York, U.S., November 14, 2022. REUTERS/Eduardo Munoz/ Rising U.S. labor costs are doing little to drive up inflation, researchers from the Federal Reserve Bank of San Francisco said on Tuesday, a finding that may undercut the argument that wage gains are key to elevated price pressures. The analysis by Adam Shapiro in the latest edition of the FRBSF Economic Letter showed that labor costs as measured by the employment cost index contributes nothing to goods or housing services inflation, and accounts for only a very small portion of non-housing…

© Reuters. FILE PHOTO: Signage is seen at the headquarters of the Federal Communications Commission in Washington, D.C., U.S., August 29, 2020. REUTERS/Andrew Kelly/ By David Shepardson WASHINGTON (Reuters) -More than 8.3 million U.S. homes and businesses lack access to high-speed broadband internet, the Federal Communications Commission said Tuesday in unveiling its revised national broadband access map. The FCC said it has increased its estimates of homes and businesses without access by nearly 330,000 locations. The data is crucial for funding decisions. Congress in 2021 approved $42.45 billion in grants for states and territories to expand broadband infrastructure to areas…

Web3 can be very daunting for beginners.There are so many strange concepts, and so much jargon.Non-crypto natives need to wrap their heads around the concept of blockchains, wallets, gas fees, the difference between cryptocurrencies and crypto tokens (of the ERC-20 and BEP-20 ilk), as well as familiarise themselves with decentralized finance protocols and other decentralized applications, such as metaverses and play-to-earn (P2E) games.Investing in the crypto space is also very difficult, thanks to the asset class’s high level of price volatility compared to traditional financial markets, as well as the prevalence of scams and pitfalls.Thankfully, a brand new web3 platform…

For millions of Americans with federal student loan debt, the payment holiday is about to end.Legislation to raise the debt ceiling and cut spending includes a provision that would require borrowers to begin repaying their loans again by the end of the summer after a yearslong pause imposed during the coronavirus pandemic.President Biden had already warned that the pause would end around the same time, but the legislation, if it passes in the coming days, would prevent him from issuing another last-minute extension, as he has already done several times.The end of the pause would affect millions of Americans who…

thamerpic/iStock Editorial via Getty Images Glencore (OTCPK:GLCNF) (OTCPK:GLNCY) plans to spend $1.5B on an expansion project at its Antapaccay copper mine in Peru, up from $590M announced previously, Reuters reported Tuesday, in a bid to unlock the stalled plan key to maintaining copper output. Antapaccay general manager Carlos Cotera told Reuters the Glencore (OTCPK:GLCNF) (OTCPK:GLNCY) unit was pushing forward the “Coroccohuayco” project, which aims to extend the mine’s lifespan until “at least” 2045-50. Cotera said annual production at Antapaccay has fallen steadily as the quality of ore grades declined, from 221K metric tons in 2016 to ~150K tons now, making…

Some retail stores will face a reckoning as pandemic spending wanes, consultant Steve Dennis said. Stores like Bed Bath & Beyond are an “unremarkable middle,” Dennis said on the Remarkable Retail podcast. Dollar General, T.J. Maxx, and other value-focused chains are likely to take their places in malls. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Expect more store closures and bankruptcies like what happened to Bed Bath & Beyond this year.That’s a prediction from Steve Dennis, a retail consultant, former Sears executive, and…

Lisbon, Portugal, cityscape in the Alfama District. Portugal experienced rapid growth in its GDP per … [+] capita from the 1980s to a peak in the late 2000s, when the Global Financial Crisis broke this streak.getty Unless you’ve been living under a rock, you should be well aware that the global economy has been going through some turbulent times since the outbreak and worldwide spread of the pandemic in 2020. Amid the economic disruption, however, several countries managed to display remarkable growth in their GDP per capita from 2020 to 2021. Using data from The World Bank, we analyzed various…

© Reuters. U.S. Representative Ralph Norman (R-SC) holds up his wallet as he joins Senator Rick Scott (R-FL) and House Freedom Caucus Chairman U.S. Representative Scott Perry (R-PA) for a news conference on the national debt ceiling at the U.S. Capitol in Washington WASHINGTON (Reuters) – Representative Ralph Norman, a hardline conservative Republican, said he will vote against the debt ceiling bill when it comes before the U.S. House Rules Committee later on Tuesday, if it is not amended.

© Reuters. FILE PHOTO: Bottles of prescription painkiller OxyContin pills, made by Purdue Pharma LP sit on a counter at a local pharmacy in Provo, Utah, U.S., April 25, 2017. REUTERS/George Frey/File Photo By Dietrich Knauth NEW YORK (Reuters) – Bankrupt OxyContin maker Purdue Pharma can shield its owners, members of the wealthy Sackler family, from opioid lawsuits in exchange for a $6 billion contribution to the company’s broader bankruptcy settlement, a U.S. appeals court ruled on Tuesday. The New York-based 2nd U.S. Circuit Court of Appeals said that U.S. bankruptcy law allows legal protections for non-bankrupt parties, like the…

Source: AdobeBinance, the world’s largest crypto exchange, is in the midst of discussing a proposal to let some of its institutional clients keep their trading collateral at a bank, instead of with the crypto platform, according to Bloomberg News. Binance has spoken to some of its professional customers about “a setup that would allow them to use bank deposits as collateral for margin trading in spot and derivatives, according to four people familiar with the matter,” Bloomberg reported on Tuesday. Two of the people Bloomberg spoke with have mentioned Swiss-based FlowBank and Lichtenstein-based Bank Frick as potential intermediaries. “Under one version of the…