BEIJING—Chinese consumers are likely to have to pay more for food staples like noodles and bread this year, as record wheat prices in the world’s top consumer of the grain get passed on to food makers, traders and analysts said. Wheat harvested in China in recent weeks is being sold at around 3,200 yuan ($477)…
Record Chinese Wheat Prices Raise Risk of Pricier Noodles
June 4, 2022
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Amazon to Pull Kindle Out of China, Other Businesses to Remain
SHANGHAI—Amazon.com said it will stop supplying retailers in China with its Kindle e-readers from Thursday and will shut its Kindle e-bookstore there next year, in the latest pullback by a U.S. tech firm from the restrictive Chinese market. Amazon announced the decision on its official WeChat account on Thursday, saying it was adjusting the strategic…
Johnny Depp Ethereum NFT Sales Soar as He Triumphs Against Amber Heard in Defamation Trial
Johnny Depp’s collection of Ethereum based NFTs saw a sharp surge in interest following the conclusion of the defamation trial against his ex-wife Amber Heard. What Happened Depp’s collection titled “Never Fear Truth” had a total trading volume of 1,500 ETH since its launch. After the jury reached its final verdict, awarding Depp $10 million in compensatory damages…
Inflation Striking Middle-Class Consumers With Higher Prices For Groceries
Middle-class consumers in the United States have begun to overtake low-income shoppers as the financial group most affected by rising grocery prices for the first time since the pandemic, according to a May 31 report by Numerator, a consumer data analytical service. The Numerator report utilized purchase data gathered by its mobile-receipt app, “Receipt Hog.” Lower-income Americans making…
US Has Over 750 Complaints of Teslas Braking for No Reason
DETROIT—More than 750 Tesla owners have complained to U.S. safety regulators that cars operating on the automaker’s partially automated driving systems have suddenly stopped on roadways for no apparent reason. The National Highway Traffic Safety Administration (NHTSA) revealed the number in a detailed information request letter to Tesla that was posted Friday on the agency’s…
Stocks Sink as Wall Street Eyes Downside of Jobs Data
NEW YORK—U.S. stocks fell broadly Friday and pulled major indexes into the red for the week as Wall Street focused on the downside of the U.S. jobs market. A report showed employers hired more workers last month than economists expected. While that’s a good sign for the economy amid worries about a possible recession, many…
Consumers Lost at Least $1 Billion in Cryptocurrency Scams in Early 2021, Says FTC
June 3, 2022
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More than 46,000 American consumers have officially reported a total loss of $1 billion in cryptocurrency to fraud from January 2021 through March 2022, according to a new June 3 report from the Federal Trade Commission. The FTC reported that the data is based on fraud reports made directly to the agency, which means that…
A ‘Goldilocks’ May Jobs Report, But …
Commentary May jobs printed at 390,000 new jobs above the consensus estimate of 325,000. The unemployment rate was 3.6 percent, unchanged from last month, but down from last May’s 5.8 percent. The labor force participation rate was 62.3 percent, up from the 61.1 percent that printed in May 2021. The Labor Participation Rate was 62.3 percent, up 10 basis…
Ukrainians Hold Out as Russia Storms Eastern City on War’s 100th Day
SIEVIERODONETSK, Ukraine—Ukraine on Friday said it recaptured a large chunk of territory in fierce fighting for Sievierodonetsk and foiled an attempt by Russian troops to advance from the devastated eastern industrial city on the 100th day of Moscow’s invasion. Ukraine’s defense minister said his soldiers were training in Europe to operate advanced missile systems pledged…
Roughly Half of Germans Restrict Spending Due to Rising Inflation: Survey
Almost 50 percent of German citizens are not in a position to afford their current lifestyles, forcing them to make changes in household expenditures, a poll conducted by public broadcaster ARD has shown. In the survey, which was conducted between May 30 and June 1 among 1,337 Germans, 47 percent indicated that they are implementing…
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