U.S. President Donald Trump’s election win in November kicked off an unprecedented level of “money grubbing” by the Trump family that makes his first term in the White House—where he cashed in on “branded” properties—look like an exercise of modesty, WSWS reported.
Author: admin
GAZA DEATH TOLL
The death toll in Gaza reached 52,862 and 119,648 people have been wounded. There are at least 11,000 people missing.
YEMEN DEATH TOLL
The U.S. and Houthis announced a truce last week that did not involve Israel after a weekslong air campaign by Washington to “annihilate” the Houthis who have enforced a blockade in the Red Sea over Israel’s brutal genocide against Palestinians in Gaza.
GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that will profoundly affect the business community this year.
WHEN THE ECONOMY FALLS, JOBS GO WITH IT
U.S.-based employers cut 105,441 positions in April with retailers cutting 7,235 jobs, according to outplacement firm Challenger, Gray & Christmas.
BANK OF ENGLAND CUTS INTEREST RATE FOR A FOURTH TIME
On 8 May, the Bank of England (BoE) cut its policy interest rate from 4.5 percent to 4.25 percent, the fourth reduction in the rate-setting committee’s last seven meetings.
RUSSIA TRIPLES ITS BUDGET DEFICIT AS OIL PRICES TUMBLE
The Kremlin will allow Russia’s budget deficit to more than triple this year from 0.5 percent of GDP to 1.7 percent as oil prices are projected to remain in their current $60 neighborhood for weeks or months to come.
PRIVATE EQUITY READY TO FUND EUROPE’S REARMAMENT
As the U.S. has indicated it will scale back its military defense of Europe, the continent’s capitals are preparing to spend billions to expand their own defense capacities and take a larger role in supporting the Ukraine War and selling the line to the public that if Russia is not defeated they will invade Europe.
RESTAURANT HOLDING COMPANY’S EARNINGS MISS EXPECTATIONS
Restaurant Brands International, which owns Burger King, Firehouse Subs, Popeye’s, and Tim Horton’s, reported first-quarter revenue of $2.11 billion, slightly short of the $2.13 billion analysts had foreseen.
U.S. EV SALES HIT A SPEED BUMP IN APRIL
Last month, U.S. sales of electric vehicles (EVs) fell 5 percent below March’s volume while the country’s overall car market grew by 10 percent, data service Motor Intelligence reported.