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Category: Economy

Subway commuters in Buenos Aires see fares spike by 360% as part of austerity campaign in Argentina

Subway commuters in Buenos Aires see fares spike by 360% as part of austerity campaign in Argentina

Commuters in Buenos Aires on Friday were hit by an abrupt 360% increase in subway fares, one of the most dramatic price hikes in libertarian President Javier Milei ‘s harsh budget austerity campaign in Argentina.

US inflation eased last month in the first slowdown of 2024

US inflation eased last month in the first slowdown of 2024

Led by lower food and auto prices, inflation in the United States cooled slightly last month after three elevated readings, likely offering a tentative sigh of relief for officials at the Federal Reserve as well as President Joe Biden’s re-election team.

Senators urge $32 billion in emergency spending on AI after finishing yearlong review

Senators urge $32 billion in emergency spending on AI after finishing yearlong review

A bipartisan group of four senators led by Majority Leader Chuck Schumer is recommending that Congress spend at least $32 billion over the next three years to develop artificial intelligence and place safeguards around it, writing in a new report released Wednesday that the U.S. needs to “harness the opportunities and address the risks” of the quickly developing technology.

US job openings fall to 8.5 million in March, the lowest level in more than 3 years

US job openings fall to 8.5 million in March, the lowest level in more than 3 years

U.S. jobs openings slid in March to the lowest level in more than three years, but stayed at historically high levels in a sign that the job market remains resilient in the face of higher interest rates.

Consumer groups push Congress to uphold automatic refunds for airline passengers

Consumer groups push Congress to uphold automatic refunds for airline passengers

Consumer groups are pushing Congress to uphold automatic refunds for airline passengers whose flights are canceled or delayed for several hours.

Norfolk Southern reaches $600 million settlement to settle East Palestine derailment suit

Norfolk Southern reaches $600 million settlement to settle East Palestine derailment suit

Norfolk Southern has reached a $600 million settlement that, if approved by a court, will resolve all lawsuits covering thousands of residents within 20 miles of the 2023 East Palestine, Ohio, derailment that spilled more than a million pounds of hazardous chemicals into the soil, water and air.

New taxes on Miami Beach, Surfside, Bal Harbour would fund homeless services

New taxes on Miami Beach, Surfside, Bal Harbour would fund homeless services

The Miami-Dade County Homeless Trust wants to collect new taxes on restaurants in Miami Beach, Surfside and Bal Harbour to fund homelessness efforts and domestic violence centers — but some elected officials are speaking out against the idea.

How the big real estate settlement will change homebuying and selling

How the big real estate settlement will change homebuying and selling

The powerful National Association of Realtors last week agreed to settle a big lawsuit and change the way real estate agents get paid

Wealth disparities by race grew during the pandemic, despite income gains, report shows

Wealth disparities by race grew during the pandemic, despite income gains, report shows

A strong performance in financial markets, particularly an outsize gain for the stock market in 2021, helped entrench existing trends of wealth inequality during the pandemic, new data released this week show.

China’s plans for 2024 prioritize technology, offer scant comfort for businesses and investors

China’s plans for 2024 prioritize technology, offer scant comfort for businesses and investors

China’s blueprint for its economy in 2024 is replete with goals and promises, but it’s also notable for not spelling out specific moves to attain long-promised reforms that foreign businesses and investors have been hoping for.

Trinidad government hires two firms to recover sunken oil barge

Trinidad government hires two firms to recover sunken oil barge

HOUSTON, Feb 20 (Reuters) – Trinidad and Tobago has hired two remediation and salvage firms to help clean up an ongoing oil spill off Tobago and salvage the leaking barge, the country’s Ministry of Energy said on Tuesday.

Why is inflation cooling — and why isn’t it coming down more

Why is inflation cooling — and why isn’t it coming down more

Ahead of May’s closely watched Consumer Price Index, set to be released Tuesday morning, economists are expecting yet another month of smaller price increases.

Why do businesses keep raising their prices?

Why do businesses keep raising their prices?

What’s behind inflation? Some economists cite pandemic-era supply chain bottlenecks, the war in Ukraine and US economic policies; others corporate greed. But a new survey suggests the strength of customer demand has outsized influence on prices.

OpenAI CEO calls for global cooperation to regulate AI

OpenAI CEO calls for global cooperation to regulate AI

Sam Altman, the CEO of ChatGPT maker OpenAI, used a high-profile trip to South Korea on Friday to call for coordinated international regulation of generative artificial intelligence, the technology that underpins his famous chatbot.

Americans’ wealth rises by $3 trillion but remains below early 2022 peak

Americans’ wealth rises by $3 trillion but remains below early 2022 peak

Elevated by a strong stock market, Americans’ household wealth rose to nearly $149 trillion in the first quarter of 2023, new federal data shows. But that’s still several trillion dollars shy of its recent peak.

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