China is already on the verge of becoming a cashless society, but the vast majority of those electronic transactions happen on privately owned apps, outside of the immediate purview of the state. An official yuan would change that, giving Beijing an unprecedented amount of information about what people are spending […]
Month: January 2022
Child care workers are vanishing and it’s hurting the entire economy
And now it’s starting to backslide. The workforce reductions — coupled with ongoing challenges of low pay and spotty benefits for workers — have economists and policy experts sounding the alarm: If this industry falters further, it could spell trouble for the entire labor market as working parents scramble to […]
Tesla reports record profit, but warns of continued supply chain issues
The company had adjusted earnings of $2.9 billion, up sharply from $903 million a year earlier and well above $2.6 billion forecast by analysts surveyed by Refinitiv. Revenue of $17.7 billion was up 65% from a year earlier. The results took full year earnings to $7.6 billion, and revenue to […]
How Putin’s $11 billion pipeline split NATO and the EU at a time of crisis
The United States, United Kingdom, Ukraine and several European Union member states have fiercely opposed the pipeline ever since it was first announced in 2015, warning the project would boost Moscow’s influence in Europe. According to experts, that on its own is a win for Russian President Vladimir Putin. Kristine […]
SDLC Rapid Application Development Process and its Working Scenario
In several cases, developers recognized that the classic waterfall methodology of development was ineffective. One of the most common is that serious design flaws can only be discovered in the examination, and it is far too late to begin design adjustments while the changes are in progress. These sorts of […]
Thinking of buying a home in 2022? Here’s what to expect
Heading into this year, just 26% of consumers thought it was a good time to buy a home, according to Fannie Mae’s Home Purchase Sentiment Index for December. That was a sharp decrease in sentiment from one year earlier, when 52% believed it was a good time to buy. One […]
Evergrande’s debt crisis: International creditors threaten legal action over ‘opaque’ restructuring process
A group of the company’s overseas bondholders are threatening to take legal action over its “opaque” debt restructuring process, the latest sign of trouble for the embattled Chinese developer. They said in a statement Thursday they’ve had to “seriously consider enforcement actions” after Evergrande failed to engage substantially with them […]
Analysis: The Fed is in a high-stakes race to catch up to inflation
At a minimum, the Fed is playing catch-up when it comes to inflation. “The Fed is behind the curve,” Aditya Bhave, senior US and global economist at Bank of America, told CNN. “Wherever you look, you have very strong inflation. It’s a worrying picture for the Fed.” The question is […]
Prices are soaring. How high can they go?
We know the causes: worker and product shortages have resulted in pandemic-era price hikes for such goods such as used cars, as well as strong consumer demand. Now, the Federal Reserve has come down from the mountain to rein inflation in. In October, the central bank announced a tapering of […]
Rising prices: Key inflation measure hits a 39-year high
The US consumer price inflation index rose 7% over the past year before seasonal adjustments, the steepest climb in prices since June 1982, the Bureau of Labor Statistics reported Wednesday. It was also a faster rate of increase than November’s 6.8%, and higher than economists had predicted. Stripping out food […]