Inflation hits Christmas meals by costing 16.4% more this year
According to Datasembly, the average holiday dinner grocery basket will cost individuals 16.4% more than last year.
canada
Eight in 10 Canadians say inflation is impacting their holiday spending decisions
Bank of Montreal has found that 77% of Canadians say inflation is impacting their holiday spending decisions.
finance
Goldman Sachs plans to fire up to 4,000 workers, accounting for 8% of its workforce
As Goldman Sachs seeks to boost the bank’s profitability, the company is looking at laying off up to 4,000 workers.
recession
JPMorgan Chase CEO Jamie Dimon predicts a recession in 2023
On Tuesday, JPMorgan’s CEO Jamie Dimon once again warned that a recession will likely hit the U.S. in 2023.
Big Tech
Facebook Parent Meta announces layoffs of 11,000 workers
On Wednesday, November 9, Meta Platforms announced that it would be cutting more than 11,00 workers from the company.
England
Bank of England says the UK will face its longest recession in history
On Thursday, November 3, 2022, the Bank of England said that the U.K is now facing its most prolonged recession in history since record-keeping began.
inflation
One of the world’s largest hedge funds just warned of potential “societal collapse” and “hyperinflation”
One of the world’s largest and most influential hedge funds has just warned the world could be on track to “societal collapse” and “hyperinflation”
JOE BIDEN
Biden Administration announces plan to release more oil from the Strategic Petroleum Reserve this winter, as reserve hits the lowest level since 1984
On October 18, 2022, the White House announced that Biden has directed the Department of Energy to sell off more oil from the U.S. Strategic Petroleum Reserve (SPR).
Economy
U.S. mortgage rate hits the highest level since 2006
The U.S. mortgage rate has continued to rise for seven straight weeks, hitting its highest level in 16 years.
debt
U.S. household debt jumps past $16 trillion, with $2 trillion added since the end of 2019
Since the end of 2019, just prior to the pandemic, household debt has risen by nearly $2 trillion passing $16 trillion in the second quarter of 2022.
