It’s the inflation you’re not supposed to see. From toilet paper to yogurt and coffee to corn chips, manufacturers are quietly shrinking package sizes without lowering prices. It’s dubbed “shrinkflation,” and it’s accelerating worldwide. In the U.S., a small box of Kleenex now has 60 tissues; a few months ago, …
Read More »Biden responds to Elon Musk’s economic doubts: “Lots of luck on his trip to the moon”
President Biden on Friday responded to Elon Musk‘s recent doubts about the U.S. economy, saying he wished the Tesla CEO “lots of luck on his trip to the moon.” According to Reuters, Musk said in an email to Tesla executives Thursday he has a “super bad feeling” about the economy …
Read More »More than 7,000 flights canceled worldwide over Memorial Day weekend
The Memorial Day holiday weekend is proving a messy one for many airlines, with carriers canceling thousands of flights worldwide, including hundreds in the U.S. on Monday. On Monday, 1,634 flights had been canceled as of 11:52 p.m. ET, according to flight tracking website FlightAware. That followed roughly 1,640 cancellations on …
Read More »MasterCard, Starbucks and PayPal to cover abortion travel for workers
MasterCard, PayPal and Starbucks are among the companies on a growing list to say they’ll help pay for employees to travel for abortions if the procedure is not available where they live. “We will continue to offer employees access to the same health care that is available today wherever they live,” a …
Read More »Lisa Cook confirmed as first Black woman to Federal Reserve Board post in Senate party
Washington — The Senate confirmed economist Lisa Cook on Tuesday to serve on the Federal Reserve’s board of governors, making her the first Black woman to do so in the institution’s 108-year history. Her approval was on a narrow, party-line vote of 51-50, with Vice President Kamala Harris casting the …
Read More »American families need to earn $35.80 an hour just to make ends meet. Few earn that.
Decades of stagnant wages, rising costs and frequent economic crises in the U.S. have put millions of Americans close to the financial edge. Just to make ends meet, a family with one adult and two children needs to earn an average of $35.80 an hour — a level of income …
Read More »George Floyd’s lawyer: Wells Fargo is “killing Black homeowners opportunities”
Wells Fargo & Co. is again facing scrutiny and lawsuits over loan practices involving Black borrowers. Wells Fargo — the largest mortgage lender among U.S. banks — is currently looking at a possible class-action lawsuit as well as criticism from Capitol Hill over claims it denied Black people a shot …
Read More »Etsy sellers strike, halting sales for one week to protest hike in commission fees
Some vendors on Etsy say they are halting sales of their items on the site for a week to protest a hike in the fees the crafts ecommerce marketplace charges them. Starting Monday, Etsy sellers must pay a 6.5% commission on each transaction, up from the 5% in place since …
Read More »Low pay, grueling work fuels trucker shortage
President Joe Biden wants to recruit more veterans and women to the trucking industry amid a national shortage of drivers that is making it harder to get products onto store shelves. In unveiling a plan on Monday to beat the bushes for more truck drivers, Mr. Biden and U.S. Transportation …
Read More »Airborne Gummies recalled because caps may fly off bottles
Nearly 4 million bottles of Airborne Gummies sold nationwide are being recalled because the cap may fly off and injure people when opened for the first time. The recall involves about 3.7 million units of the fruit-flavored supplements sold in bottles, according to a notice from the manufacturer, Reckitt, posted on Wednesday …
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