Key takeaways: The decision to phase out nuclear power began in the Cold War as a fight against atomic weapons. Germany has turned to coal,…
Posts published in “Financial”
The U.S. Postal Service has proposed a 4.8% increase in the price of first-class mail stamps, from 63 cents to 66 cents, to offset inflation. If approved, this would be the fifth price increase since 2019. Postal experts have criticized the proposal, noting that customers are paying more while getting less for their money. The Postal Regulatory Commission will review the proposal and make a decision in the coming weeks.
Tupperware, the iconic food storage brand, is facing financial difficulties and may have to close up shop. The company has hired advisers to help turn around the company, and is now working to restructure its debt and find a way to stay in business. Tupperware is urging its customers to continue to support the brand as it works to remain viable.
Tupperware, the iconic kitchenware brand, is warning of potential bankruptcy as it struggles to stay afloat amid the pandemic. The company is exploring potential layoffs, as well as reviewing its real estate portfolio for potential money-saving efforts. Shares of the direct marketing company plunged 50% after the securities filing, and Tupperware is now in a race against time to secure additional financing and avoid bankruptcy.
Average hourly wages rose 0.3% from February to March, and 4.2% year-over-year, while the leisure and hospitality sector added the most jobs in March. Despite the Federal Reserve's nine interest rate hikes, the US economy remains on solid footing, with job growth in service-providing businesses and a slight decline in manufacturing employment.
The Internal Revenue Service (IRS) has released its plan to spend $80 billion in funding over the next decade, with Commissioner Danny Werfel reassuring taxpayers that they don't need to worry about an increase in audits. The money is meant to support the agency in cracking down on tax cheats and providing better service to taxpayers, with the IRS expected to collect more than $100 billion in new revenue over a 10-year period. The agency plans to use the money to improve customer service, update outdated technology, and hire additional staff to help with enforcement and compliance.
On Thursday, protesters in Paris took their fight against France's plan to raise the retirement age to BlackRock, the world's largest money manager. Approximately 100 people, including representatives of several labor unions, stormed the Centorial office block near the Opéra Garnier opera house, chanting anti-reform slogans and holding red flares and smoke bombs. The protesters were voicing their opposition to the government's pension reforms, which would raise the retirement age and delay pension payments. The protests against the reforms have been ongoing for weeks, and it appears the protesters are determined to make their voices heard.
Johnson & Johnson has announced a settlement of nearly $9 billion to cover thousands of lawsuits alleging that its baby powder containing talc caused cancer. The settlement, which is more than quadruple the amount previously set aside, is one of the largest product-liability settlements in U.S. history and will be payable over the next 25 years. The company has been adamant that its products are safe, but has decided to settle the cases in order to avoid the costs and risks associated with a prolonged legal battle.