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Citigroup CEO Shares How Inflation Affects Consumer Behavior; Jane Fraser Says Low-Income Americans Now More Cautious With Spending

Citigroup CEO Shares How Inflation Affects Consumer Behavior; Jane Fraser Says Low-Income Americans Now More Cautious With Spending

Citigroup CEO Jane Fraser said she's seeing a "K-shaped consumer" as the U.S. inflation continues. Here's what she meant by that.


Tesla Enters 4th Week of Layoffs as Elon Musk Announces New Job Cut Round, Making More and More Employees Hopeless

Elon Musk announces new job cut round, making Tesla enter its 4th week of layoffs. More and more employees are becoming hopeless.

Xi Jinping Urges France to Resist 'New Cold War' Amid EU's Shift Towards US Alliance

Xi Jinping's visit to France amid EU tensions highlights economic cooperation, opposing a "New Cold War."

NY Liquor Stores Eye Non-Alcoholic Market Amid Pandemic Shifts, Legislators Propose Solution

New York proposes legislation to allow liquor stores to sell non-alcoholic drinks amid pandemic challenges.


Latest News

SEC
Robinhood received a warning from the Securities and Exchange Commission regarding potential legal action over its cryptocurrency operations. This signals regulatory scrutiny, focusing on alleged violations of Sections 15a and 17a of the Securities Exchange Act of 1934.
Apple Releases iPhone 12 and iPhone 12 Pro
Foxconn reports its highest-ever April revenue surge, with a nearly one-fifth increase compared to last year, driven partly by strong iPhone demand and diversification efforts.
BRITAIN-US-BLOCKCHAIN-CRYPTOCURRENCY-STABLECOINS-USDT-TETHER
A cybersecurity group led by Justine Bone, known as Crypto ISAC, will now be in motion to prevent crypto hacking and other malicious activities, providing greater confidence to investors and users.
General Motors might need to leave China as losses mount to $106 million in just three months, the third time in 15 years.
CHINA-CULTURE
A man in China ran a modus operandi using 4,600 phones to fake live-stream viewer counts, earning $415,000 in less than four months.
BRITAIN-US-BLOCKCHAIN-CRYPTOCURRENCY-STABLECOINS-USDT-TETHER
A recent study reveals that over 90% of stablecoin transaction volumes are not from consumers. An illustration picture taken in London on May 8, 2022, shows gold plated souvenir cryptocurrency Tether (USDT), Bitcoin and Etherium coins arranged beside a screen displaying a trading chart.
Bill Gates
The Bill & Melinda Gates Foundation, Novo Nordisk Foundation, and Wellcome Trust collaborated to solve global health concerns using science and technology.
Rue21 has announced that it will be shutting down all of its 540 locations in the coming weeks. Popular teens clothing retailer Rue21 is shutting all 540 of its locations in the the coming weeks as it declares bankruptcy after almost 50 years in operation.
American Businessman Accused of Hiring Hitman to Kill His Wife for Massive Insurance Money Admits Funneling Millions to Lover's Business
An American businessman is currently on trial in Jamaica for allegedly hiring a hitman to kill his wife to collect a massive life insurance payout.
gasoline
Global gasoline demand growth may half in 2024 due to a return to normal consumption after COVID-19 and a shift to electric cars in China and the US.