Simone Del Rosario
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‘Eggflation’ gives producers record profits while internet mocks outrageous prices
For some, there’s nothing left to do but crack up over the price of eggs (if you’re not crying in the grocery aisle). The internet is exploding with egg memes mocking how expensive this everyday diet fixture has become. The average price of a dozen eggs is now $4.25, well more than double what it… -
Mortgage rates are finally falling, but the average family still can’t afford a home
While mortgage rates have fallen considerably from November’s recent high, buying a home is still far out of reach for most Americans. In fact, for six out of the last seven months, a family earning the median income would not qualify for a median-priced home, according to the latest data from the National Association of… -
DoNotPay’s AI robot lawyer wants to argue your case in court
Imagine this: You’re in a courtroom accused of breaking the law. Your future rests on your legal defense. But you didn’t hire an attorney who spent years in school studying the law and many more practicing it. You’re trusting a robot to win your case. That could be the future, according to Joshua Browder, the… -
Color-changing BMW, flying cars top list of 5 best CES 2023 innovations
Each year tech companies big and small descend on Las Vegas for CES. The cutting-edge products they unveil on the show floor can mold the future of tech or go nowhere at all. Here are some of the most interesting innovations out of CES 2023 in this week’s Five for Friday. #5: AtmosGear Electric Skates… -
Deflation in December: Consumer prices fall for first time since 2020
For the first time since 2020, the U.S. saw deflation in consumer prices for the month. Overall consumer prices in December declined 0.1% from November, according to the latest Bureau of Labor Statistics (BLS) report. Annual consumer inflation rose 6.5% from a year ago, down from November’s 7.1% increase and significantly below June’s 9.1% peak.… -
Jerome Powell insists Fed will not become a ‘climate policymaker’
Don’t expect the Federal Reserve to wade into the climate change fray. Fed Chair Jerome Powell made clear Tuesday that the banking system does not have a significant role in the space. “We are not, and will not be, a ‘climate policymaker,’” Powell said. “We should ‘stick to our knitting’ and not wander off to… -
House Republican vote to strip IRS funding could cost country $114 billion
House Republicans voted Monday night to strip the Internal Revenue Service of $72 billion in funds secured by the 2022 Inflation Reduction Act. House Speaker Kevin McCarthy, R-Calif., characterized one of his first legislative moves as a “promise kept.” “I guess I question why they made the promise in the first place,” said Marc Goldwein,… -
Deere will allow farmers to repair own equipment after years of debate
Tractor giant Deere & Co. and the American Farm Bureau Federation reached an agreement that gives farmers the right to repair their own farm equipment or take it to an independent technician. It’s a move that should save farmers time and money and marks a significant settlement in the “right to repair.” When it comes… -
December jobs report shows signs of a slowdown but labor market remains tight
The year 2022 has turned out to be one of the best years for job growth in modern U.S. history. December’s jobs report released Friday by the Bureau of Labor Statistics (BLS) showed another month of the economy beating job growth expectations, but did signal a slowdown in that growth. The U.S. economy added 223,000… -
5 ‘outrageous’ 2023 predictions: Billionaire energy group, gold to $3,000
A new year means making resolutions that likely won’t stick, along with making fantastic predictions that will likely never come true. The latter is exactly what Denmark-based Saxo Bank does each year. We have the most outrageous predictions for 2023 in this week’s Five For Friday. #5: Country bans meat production The global agenda to… -
Amazon, Salesforce announce major layoffs, blame excessive pandemic hiring
Big Tech continues its big jobs shedding in 2023 as two major players announce deep cuts to start the year. Amazon is axing 18,000 corporate employees, nearly double previous estimates, while Salesforce announced a 10% staff reduction impacting 8,000 workers. Both companies cite the current economy and over-hiring the past few years as factors. Amazon’s… -
Fed shows resolve in interest rate hikes but market still sees pivot in 2023
Minutes from the Federal Reserve’s latest meeting show officials worried the market could undermine the Fed’s efforts to bring down prices. Despite rumblings of a Fed pivot, the minutes revealed the committee’s resolve in bringing down inflation, including officials’ consensus on keeping interest rates high through 2023. “Participants noted that, because monetary policy worked importantly… -
FTX founder Sam Bankman-Fried pleads not guilty to slew of criminal charges
Disgraced cryptocurrency exchange founder Sam Bankman-Fried pleaded not guilty to a host of criminal charges Tuesday in federal court. The former FTX CEO has been living under house arrest at his parents’ after controversially securing his $250 million bail. Bankman-Fried is charged with illegally funneling funds from FTX customer deposits to prop up his hedge…
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