Economy

German gas prices could triple as Russia reduces supply, expert says | Germany

German consumers could face a tripling of gas prices in the coming months after Russia’s throttling of deliveries to Europe, a senior energy official has said. Moscow reduced the flow of gas through the Nord Stream 1 pipeline by 40% last week, citing technical reasons that Berlin dismisses as a pretext, prompting a four- to …

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What Did Elon Musk Say About Tesla's Future?  CEO Spills Fears

What Did Elon Musk Say About Tesla’s Future? CEO Spills Fears

CEO Elon Musk’s outlook on the future of Tesla appears to be bleak. FREDERIC J. BROWN | Getty Images In a new interview with a Tesla owner’s group, Musk revealed that bankruptcy may be a possibility for the electric car company. Tesla has faced multiple problems lately with supply chain disruptions affecting the production of …

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Fed chair contradicts Biden, says inflation was 'certainly' high before Russia's Ukraine invasion.  protect yourself

Fed chair contradicts Biden, says inflation was ‘certainly’ high before Russia’s Ukraine invasion. protect yourself

Not ‘Putin’s price hike’: Fed chair contradicts Biden, says inflation was ‘certainly’ high before Russia’s Ukraine invasion. protect yourself Inflation is still white-hot: US consumer price index rose 8.6% in May from a year ago, marking the biggest jump since December 1981. Who’s responsible for the spiking price levels? President Joe Biden points to Russia’s …

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Missouri wants woman to repay $8,000 in pandemic unemployment funds

Missouri wants woman to repay $8,000 in pandemic unemployment funds

ST. LOUIS — The State of Missouri asked a St. Louis woman to repay pandemic unemployment funds that she received from the state. Lacheka Harris is an unemployed, disabled, mother of two. She said she can not afford to repay. Harris as many Missourians received state and federal pandemic unemployment funds to help get them …

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US to proceed with production of biofuels despite global food crisis | Biofuels

The US will press ahead with biofuels production, the deputy secretary for agriculture has said, despite increasing concerns about a global food crisis, and calls from campaigners to prioritize grain for human consumption over its use as a fuel. Jewel Bronaugh, the deputy secretary of agriculture, said US farmers could continue to produce biofuels without …

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Celsius Enlists Advisers for Potential Bankruptcy, According to WSJ Report

Celsius Enlists Advisers for Potential Bankruptcy, According to WSJ Report

Celsius has hired restructuring consultants from advisory firm Alvarez & Marsal, according to the WSJ The last public communication from the Celsius team came via blog post on June 19, one week after it announced the halt Celsius has hired restructuring consultants in preparation for a potential bankruptcy filing, the Wall Street Journal reported Friday, …

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On The Money — Employers respond to Roe

On The Money — Employers respond to Roe

Companies are responding to Friday’s stunning Supreme Court decision by implementing measures to help employees get access to legal abortion services. We’ll also look at how the decision could impact data privacy protections. Plus: We’ll dive into new home sales data and examine another massive crypto theft. Welcome to On The Money, your nightly guide …

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Best and Worst Spots in the US Housing Market, According to Lennar

Best and Worst Spots in the US Housing Market, According to Lennar

Elijah Stein Textsize Jersey and Florida are hot. Austin and Seattle are not. On Tuesday, home builder Lennar ‘s co-CEO Richard Beckwitt on an earnings call provided a tour of US housing markets. “So far in June, new orders, traffic, sales incentives, and cancellations have worsened in many of our markets due to a rapid …

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Waves Founder Holding $500M Debt To Avoid USDN Depeg

Waves Founder Holding $500M Debt To Avoid USDN Depeg

Sasha Ivanov is searching for exit liquidity as his debt accrues interest USDN lenders will face withdrawal limits until the debt is liquidated With crypto crashing, many decentralized lending platforms are one major liquidation away from facing insolvency. Sasha Ivanov, the founder of the Waves blockchain ecosystem and its Neutrino (USDN) stablecoin, has dealt with …

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