Good morning and happy Sunday. That’s what you need to know in last week’s Business News and Technology News. — Charlotte Cowls
What’s wrong? (June 6-12)
It’s not your imagination
Perhaps you have that outfit, car, grocery, and Even the Chipotle burrito Does it seem to be more expensive these days?That’s true — consumer prices Increased by 5% in May From a year ago.It was a bigger jump than the economist expected, and it went on. Another surge in April (4.2%) has spurred greater concern about inflation. Some investors and politicians are worried that prices will continue to rise, and the Fed could raise interest rates and slow economic growth. Others believe that this is a temporary rise and prices will stabilize as the economy catches up a year after the stagnation caused by the pandemic. (Comparing this year’s price to the 2019 price, May’s growth rate is only 2.5%, which is not that scary.)
As employers bring workers back to the office, many are trying to understand staff vaccination policies.And according to New Guidance from the Equal Employment Opportunity Commission in the United States, The company is within the scope of the following rights Require employees to be vaccinated Against the coronavirus. You can also request employees to provide vaccination documents or other confirmations. What if an employee cannot be vaccinated because of a disability or religious belief? The worker is eligible for special accommodation unless it poses “excessive difficulty” to the business.
Ministry of Justice Regained most of the ransom The Colonial Pipeline paid Bitcoin to a Russian hacking group last month, shutting down the system and causing turmoil in the fuel industry. Good news for Colonial Pipeline, Bad news for Bitcoin, This was widely regarded by investors and consumers (and criminals) as untraceable and out of the reach of the government. It remains to be seen if the government can help JBS, the world’s largest meat processor, collect $ 11 million in ransom. Bitcoin paid hackers..
What’s next? (June 13-19)
Watch out, China
Senate Overwhelmingly passed the bill on Tuesday It will invest about $ 4.5 trillion in scientific research and technology development over the next five years to strengthen the US’s competitiveness against China. (For comparison, the Chinese government has been doing the same for years to boost the growth of its own industry and technology.) Now the bill is heading to the House of Representatives and faces harsh critics. However, it still enjoys bipartisan support. There is also support from President Biden. If it becomes a law, it could be the most important government intervention in industrial policy in decades.
Daily business briefing
Biden will sit in Switzerland this week with Russian President Vladimir Putin. Plan to confront him About hiding the perpetrators of the recent cyberattack rash on companies operating in the United States. (Mr. Putin Known for reaching out to hackers It may even encourage them as long as they promote Russia’s interests and leave Russia’s business alone. ) Until the summit, Mr. Biden Work with European Union leaders, NATO allies, and groups of seven wealthy nations Support a strong and unified stance on Russia.
From G7 to G20
The United States has a group of seven countries Agree to the world minimum tax rate of 15 percent The company has to pay wherever its headquarters is. This is a step towards cracking down on tax havens by headquartering in tax havens like the Cayman Islands. Also, technology giants such as Amazon, Facebook, and Google may be forced to pay taxes to the country based on where they sell their goods and services, regardless of their physical footprint. .. But the next step, convincing a group of 20 countries, including China and Russia, to attend next month’s Finance Ministers’ meeting would be a much more difficult proposal.
Business Week: Prices are rising in cars, groceries and even burritos
Source link Business Week: Prices are rising in cars, groceries and even burritos