Young Nova Scotians facing ‘tough decisions’ as cost of living skyrockets – Halifax

The rising cost of living has been top of mind for many in Nova Scotia as the price of basic needs like housing, groceries and gas continue to increase while wages fail to keep up. The economic crunch is being especially felt by youth and young adults, who have had less time to settle into … Read more

Deere, Foot Locker, Palo Alto Networks and more

The Deer & Co. John Deere 8R fully autonomous tractor is displayed ahead of the Consumer Electronics Show (CES) on January 4, 2022 in Las Vegas, Nevada. Patrick T. Fallon | AFP | Getty Images Check out the companies making headlines in midday trading. Deere — The stock plummeted 14.1% after Deere reported a miss … Read more

Boeing docks Starliner capsule to ISS for the first time | Space News

Boeing’s astronaut capsule reaches International Space Station in uncrewed test do-over after several failed attempts. With only a test dummy aboard, Boeing’s astronaut capsule pulled up and parked at the International Space Station (ISS) for the first time, a huge achievement for the company after years of false starts. With Starliner’s arrival late on Friday, … Read more

Inflation is high, pervasive and frequently felt. That’s a dangerous mix

Shoppers buying groceries at the Urban Fresh Produce stand at Toronto’s St. Lawrence Market on May 18.Fred Lum/The Globe and Mail Two months ago, Jackie Chen caused a stir in Carbonear, a town of about 5,000 in Newfoundland: He announced that Don’s Restaurant wasn’t bringing back its buffet. At $16.99 before tax, the buffet was … Read more

Opinion: Waves of sanctions were supposed to crush the Russian economy, but it is still showing signs of resilience

Valves near a drilling rig at a gas processing facility on the Arctic Yamal peninsula, Russia, on May 21, 2019.MAXIM SHEMETOV/Reuters Near the start of the war, as the sanctions piled up, the Russian economy was thought to be doomed, possibly forcing President Vladimir Putin to sue for early peace. Almost three months later, there … Read more

Musk denies sexual misconduct allegation by flight attendant | Business and Economy News

A report by Business Insider said SpaceX paid the flight attendant $250,000 in severance in 2018 in exchange for her agreeing not to file a lawsuit over her claim. Tesla and SpaceX CEO Elon Musk has denied a claim of sexual misconduct by a flight attendant contracted by SpaceX who worked on his private jet … Read more

Oil Prices May Not Drop, Even If There Is A Recession

As a growing number of economists and Wall Street bankers warn that a recession is coming later this year or next year, another camp of analysts says that a recession—even if it did occur—may not be as severe a hit to global oil demand and prices as the COVID-inflicted crash or the 2008 recession. The … Read more

Global oil crisis and inflation hurt consumers: World Energy Council

The current oil crisis isn’t like previous ones — and consumers will have to bear the brunt of it even as they grapple with rising inflation, Angela Wilkinson from the World Energy Council told CNBC. “I think this is a first global energy shock, this isn’t the same as the 1970s crisis, oil shock crisis. … Read more

US stocks suffer biggest daily drop in almost two years | Financial Markets News

Shares of retailers from Walmart Inc to Macy’s Inc were caught in the downdraft. By Stephen Kirkland and Vildana HajricBloomberg Published On 18 May 202218 May 2022 US stocks posted the biggest daily drop in almost two years as investors assess the impact of higher prices on earnings and prospects for monetary policy tightening on … Read more

What China’s Dramatic Drop In Energy Demand Means For Its Economy

The fallout of China’s zero COVID policy is spreading as economic downturns and social unrest intensifies across the nation. The Chinese government’s head-scratcher of a decision to eradicate COVID completely – a feat which experts agree is impossible as the virus is already widespread, ultra-contagious, and continuing to mutate. In what is by all accounts … Read more