Tags: Economy

North Korea claims US soldier ran across border ‘to escape discrimination’

North Korean officials have claimed that Travis King, a detained American soldier, entered the country as a result of alleged “inhuman maltreatment and racial discrimination within the US Army”. King had shown a willingness to apply for asylum in North Korea after crossing the border last month, according to North Korea’s initial official statements on…

Britons favor ‘controlled openness’ over closed door as immigration soars

Balance Europe Britons favor ‘controlled openness’ over closed door as immigration soars | View caption Hide caption High immigration rates motivated many Britons to favor leaving the European Union in 2016. But migrant numbers have risen to record heights since then, and the public seems largely unconcerned, instead happy with “controlled openness.” Anti-immigration hard-liners in…

What are greedflation and wageflation?

We’ve heard a lot about inflation in recent years, but we might not be as familiar with two terms that describe phenomena that could be partly driving it: greedflation and wageflation. “When inflation took off in 2021 in the U.S., so did corporate profits,” said The Wall Street Journal. This raised some eyebrows. But just as profit…

Is America still credit-worthy?

America just saw its credit rating drop. The Associated Press reported that Fitch Ratings downgraded the U.S. debt rating from AAA to AA. That was “a move that spurred debate in Washington about spending and tax policies.” Fitch said the government’s rising debt burden and the country’s increasingly ugly political fights — including factors like…

World’s reduced thirst for oil may be foiled by developing countries’ challenges

The International Energy Agency (IEA) predicted last month that the demand for energy is nearing its peak in 2026 for transport uses and 2028 for other uses. However, the fate of the world’s oil demands largely rests on the economies of developing countries. What are the prospects for oil demand? An IEA medium-term report released this year…

Why EPA’s science and tech office no longer has ‘science’ in its mission

Why EPA’s science and tech office no longer has ‘science’ in its mission Its mission statement used to describe an agency responsible for developing ‘sound, science-based standards.’ But the word ‘science’ has recently vanished. | View caption Hide caption The U.S. Environmental Protection Agency is emerging as one of the government entities most targeted by the…

UPS reaches tentative deal to avoid strike

UPS reached a tentative deal with its Teamsters union on Tuesday, potentially avoiding a strike that could have caused supply chain disruptions across the country.  The deal is “a win-win-win agreement on the issues that are important to Teamsters leadership, our employees, and to UPS and our customers,” UPS CEO Carol Tomé said in a press…