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Consumer Credit Hits New Record Despite Unexpected Decline In Credit Card Usage

After several months of blowout consumer credit prints, including two consecutive months in which revolving (i.e., credit card) debt, rose after shrinking 10 of the previous 11 months, America's credit-funded spending spree abruptly slowed in April, when total consumer credit rose by $18.6BN, down from $25.8BN in March (since revised conveniently to $18.6BN), and missing expectations of $20.5BN.

‘People Want to Fly Again’: Airbus CEO Expects Business Travel to Recover

Airbus Chief Executive Guillaume Faury expects business air travel eventually to return to close to pre-pandemic levels and airlines are devoting the same space to business class seats as before, he said in an interview published on Sunday.

Oil To $300?

Whether you think global warming is a hoax and no technology has done more to uplift billions of people out of abject poverty than the harnessing of fossil fuels, or you think the burning of fossil fuels is irreversibly destroying the planet and urgent action to halt their use should be the top priority of humankind, or even if you think both of these things, this article is for you.

U.S. Economy Adds 559,000 Jobs in May, Unemployment Rate Drops to 5.8%

The U.S. economy added 559,000 jobs in May and the unemployment rate dropped to 5.8 percent, the Labor Department said in its monthly labor assessment Friday.

‘People Are Panicking Now’: Container Ship Charter Rates “Have Gone Out Of Control”

In a sign of just how frenzied the container market has become, a freight forwarder is reportedly paying $135,000 per day for a short-term charter of the S Santiago, a 15-year-old container ship with a capacity of 5,060 twenty-foot equivalent units (TEUs).

Inflation Nation: Labor Costs Soaring Twice as Fast as Previously Thought

Hourly compensation soared much more than expected in the first three months of the year, even as millions of Americans remained on unemployment roles or out of the workforce, data from the Bureau of Labor Statistics showed Thursday.

Emerging Analyses of Road To Net-Zero 2050 Suggest Hits to Economy, Biodiversity

New analyses show the road to net-zero emissions by 2050 comes with significant but poorly understood economic and environmental costs. While efforts to quantify these impacts are starting to take shape, concerns are mounting over how to source the building blocks for the green economy.

5 Ways to Understand Biden’s $6.4 Trillion Tax-and-Spend Agenda

President Joe Biden released three enormous spending plans within three months of taking office. These packages, each of which contain dozens of major provisions, should not be considered in isolation.

Tesla none too happy that it will have to ship its Texas-made cars out of state in order to sell them to Texans

Elon Musk dominated the news cycle in early December when he announced he was moving his Tesla company from California to Texas.

U.S. Chamber of Commerce warns worker shortage getting worse

The U.S. Chamber of Commerce is launching a new plan to address the 'crisis' shortage of workers that is says it holding back economic recovery from the pandemic.

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