US inflation reached a new 40-year high in June of 9.1%

WASHINGTON (AP) — Surging prices for gas, food and rent catapulted US inflation to a new four-decade peak in June, further pressuring households and likely sealing the case for another large interest rate hike by the Federal Reservewith higher borrowing costs to follow. Consumer prices soared 9.1% compared to a year earlier, the government said … Read more

Rail strikes and labor shortages are hurting the UK economy

London CNN Business – The United Kingdom has a jobs problem. There just aren’t enough workers to keep its economy moving forward, and many employees are growing angry about inflation taking a large bite out of their paychecks. The problem escalated Tuesday as thousands of rail workers went on strike over demands for better pay … Read more