Steel, lumber, plastic and fuel. Corn, soybeans, sugar and sunflower oil. Houses, cars, diapers and toilet paper. Prices are rising almost everywhere you look. The post-pandemic recovery is in full swing and the global economy is struggling to keep up. Following a collapse at the start of the pandemic as businesses closed and millions of
Continue ReadingChina is getting pummeled by rising costs that have pushed producer price inflation to its highest level in nearly 13 years. Surging inflation in the world’s factory threatens to spill over into the rest of the globe and drive prices that were already ballooning even higher. But economists also say the pressure could begin to
Continue ReadingTesla’s best-selling Model 3 sedan lost two designations from Consumer Reports after the company made changes to the car’s automatic braking and front collision warning systems. The car also was stripped of its designation as Top Safety Pick+ from the Insurance Institute for Highway Safety. The moves came after Tesla announced that, as of May
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Minnesota Avenue, a two-way street in downtown Bend, could look a lot different in a few years.
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The Les Schwab Amphitheater is preparing for its busiest season of the year — and quite possibly its most profitable one — after the severe pause caused by COVID-19.
Continue ReadingChipotle raised its menu prices by about 3.5% to 4% to cover the cost of higher wages for employees, the company’s Chief Financial Officer John Hartung said Tuesday. “You take about a 4% price increase to cover the dollar cost of the extra labor,” he told an analyst during a conference. Chipotle announced in May
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The Oregon Legislature approved a bill Tuesday aimed at increasing Oregon’s supply of affordable housing.
Continue ReadingMove over, AMC and GameStop. Wendy’s is the latest hot stock with the WallStreetBets crowd. Shares of Wendy’s surged more than 25% in late afternoon trading Tuesday after Reddit investing communities started circulating bullish comments about the fast food chain, talking up the company’s irreverent social media feed and its “chicken tendies” that make it
Continue ReadingAmerica is not yet back to its pre-pandemic normal, but some states are already doing better economically than they were before Covid, according to the Back-to-Normal Index created by CNN and Moody’s Analytics. South Dakota, Florida, Rhode Island, Nebraska and Idaho are all thriving, operating at or above where their economies were in early March
Continue ReadingAmerica is hiring like never before. Job openings in the United States soared by nearly a million in April, setting a record for the most openings added in a month and the highest overall number since the Bureau of Labor Statistics started tracking the data in December 2000. At 9.3 million new positions, it was
Continue ReadingThe Boeing 737 Max is back in the air, and air travel is finally rebounding, helping restart orders for new planes. But Boeing is still facing a major problem that could cripple the company for years to come — US-China trade tensions. China is by far the largest and most important market for aircraft purchases.
Continue ReadingStarbucks will let customers bring their own mugs to US company-owned cafes again starting on June 22. Before the pandemic, the coffee chain encouraged customers to bring their own reusable mugs to stores. But in March of last year, Starbucks suspended the program throughout the world because of the coronavirus. Starbucks has been gradually bringing
Continue ReadingAmerica is hiring like never before. Job openings in the United States soared by nearly a million in April, setting a record for the most openings added in a month and the highest overall number since the Bureau of Labor Statistics started tracking the data in December 2000. At 9.3 million new positions, it was
Continue ReadingThe historic agreement from the world’s richest nations to impose a global minimum tax doesn’t pose much of a threat to Corporate America’s bottom line. In a win for President Joe Biden, G7 nations announced their support last weekend to impose a global minimum tax rate of at least 15%. Treasury Secretary Janet Yellen said
Continue ReadingBitcoin is plummeting yet again. The cryptocurrency has fallen roughly 8% over the past 24 hours, according to Coindesk, and was trading near $33,200 at 4:45 a.m. ET on Tuesday. Other digital currencies, including ethereum and dogecoin, also fell around 8% or more. The value of bitcoin has tanked more than 40% over the last
Continue ReadingGap is finally showing off a first look at its new Yeezy collection with Kanye West nearly a year after the retailer signed the rapper. The first item in the collaboration is a bright blue round jacket that costs $200. Pre-orders have begun on Gap’s website in the United States and will ship in the
Continue ReadingThis article is adapted from the new edition of “Hoax: Donald Trump, Fox News, and the Dangerous Distortion of Truth,” which was published in paperback on Tuesday. When Donald Trump lost the presidency last November, Fox News lost too. But unlike Trump, Fox was never in denial about its loss. The network’s executives and multi-million-dollar
Continue ReadingEl Salvador could become the first country to adopt bitcoin as a legal tender, Salvadorian President Nayib Bukele announced in a video recording shown during the Bitcoin 2021 conference held in Miami. “Next week I will send to congress a bill that will make bitcoin a legal tender,” Bukele said, according to the conference’s organizer,
Continue ReadingUS stock indices remain in record territory. But in recent weeks, they’ve been stuck in a holding pattern as investors hunt for the next big catalyst that could send shares higher. In Europe, there’s no such hesitance. What’s happening: The STOXX 600 index hit an all-time high on Monday and is pushing higher again on
Continue ReadingOmniFoods, the Hong Kong startup best known for its fake pork product “OmniPork,” is jumping on what it sees as the next phenomenon: plant-based seafood. In an announcement first shared with CNN Business, the company said Tuesday it is launching a new line of products that include alternatives to fish fillets, fish burgers and cuts
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