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New Delhi -- Months after admitting in a UK court that its COVID-19 vaccine, which is being sold as Covishield in India, may have a potential rare blood clot side effect known as Thrombosis with Thrombocytopenia Syndrome (TTS), pharma giant AstraZeneca has recalled the jab made in collaboration with Oxford University. The British-Swedish multinational pharmaceutical company faces lawsuits from more than 50 alleged victims and their families who claim fatalities or permanent brain injuries following vaccination during Covid pandemic. The company's COVID-19 vaccine is being sold as Vaxzevria in Europe. AstraZeneca had in February this year admitted in the court...

During an interview aired on Wednesday’s broadcast of CNN’s “OutFront,” President Joe Biden stated that while “corporate greed” has caused an increase in the amount of money people have to spend on groceries and people feel real pain from the cost of groceries and food and he’s angry people have to spend more, “if you take a look at what people have, they have the money to spend.” Host Erin Burnett said, “[T]here’s real pain. Grocery prices are up 30% — more than 30% since the beginning of the pandemic, and people are spending more on food and groceries than...

In recent years we have literally seen millions of Americans relocate from red states to blue states. In some cases, there is simply a desire to be around other like-minded people. In other cases, specific political policies that have been enacted in certain states have motivated large numbers of people to relocate. This was particularly true during the pandemic. Of course there are also many that are just trying to escape the crime, drugs, homelessness and violence that are plaguing so many major cities in blue states. For those that are trying to raise a family, finding a safe environment...

As the U.S. economy slows down, those at the bottom of the economic food chain are being hit the hardest. Homelessness is surging, the number of Americans living in poverty is rising, and more Americans are considered to be among “the working poor” than ever before. Unfortunately, we are witnessing a historic economic shift right now, and economic conditions are only going to get even more harsh during the months ahead. Needless to say, that is really bad news for all of us. According to a report from Harvard University, approximately 650,000 Americans were homeless at some point last year....

The Federal Reserve is stuck between a rock and a hard place. If the Fed pushes rates higher, interest payments on our 34 trillion dollar national debt could spin wildly out of control and bank balance sheets will be in even worse condition than they are now. First Republic just bit the dust, and literally thousands of other small and mid-size banks and in serious jeopardy. So it would be suicidal to hike rates at this point. But if the Fed were to reduce rates, that would be like injecting jet fuel into a raging fire. Our ongoing inflation crisis...

As a seasoned restaurant consultant deeply entrenched in the industry, I've got my finger on the pulse of what's happening. Running a restaurant has always been a tough gig. Everyone seems to think their family recipe will turn into a gold mine, but sadly, it's not just about the quality of Grandma's lasagna. There are myriad challenges to navigate in this business. From securing the right location and talent to nailing down a winning concept, dealing with everything from theft to insurance, not to mention the endless stream of fees, licenses, and paperwork, the restaurant industry can nickel and dime...

A vegan cafe owner in Milwaukee who recently spoke beside former President Trump at a Waukesha rally told Fox News that her remarks were a plea to the person she voted for in 2020 — President Biden — to understand the plight of struggling business owners like herself. Shana Gray said that since her appearance, it has been an "eventful" time, which host Laura Ingraham reported included messages of hate and at least one case of a person with differing political beliefs "storm[ing]" her cafe. "I just pretty much put a plea out there to the administration of which I...

Here at Jalopnik, we know there’s nothing wrong with keeping a beloved old beater running for mile after mile, and we regularly celebrate high mileage heroes. Now, it turns out the rest of America is catching onto this way of thinking as the savings of holding onto an old car for longer begin mounting up. Drivers across the country are increasingly holding onto their cars for longer than ever, with an increasing number hitting more than 100,000 miles in their cars, according to a new report from the Wall Street Journal. The trend comes as drivers realize the savings to...

On Friday’s broadcast of NewsNation’s “The Hill,” White House Senior Adviser Gene Sperling discussed the recent jobs report and stated that things are “not good enough, because people are still facing too high costs in their family and personal lives. But in terms of the job market, yes, this is steady, sustainable job growth, better than even a soft landing. It’s a very steady and strong landing.”

Price inflation is no coincidence. It is a policy. Governments, along with their so-called experts, attempt to persuade you that price inflation stems from anything other than the consistent, albeit slower, rise in aggregate prices year after year. Issuing more currency than the private sector demands, thus eroding its purchasing power and creating a constant annual transfer of wealth from real wages and deposit savings to the government. Oil prices are not a cause of inflation but a consequence. Prices increase as more units of the currency used to denominate the commodity shift to relatively scarce assets. Therefore, oil prices...

(Epic Economist)—Over the past four years, many of us have had the unpleasant surprise of learning that our go-to restaurant, coffee shop, or fast food joint was closing doors for good. Thousands of well-established companies have gone out of business since the pandemic accelerated the descent of the U.S. economy, and conditions have been particularly tough in the restaurant industry. Even during the best of times, managing a restaurant comes with plenty of uncertainty. Though a brand can be incredibly popular amongst consumers, there’s a variety of factors that can result in mass closings, and in some cases, bankruptcy. We...

The Biden administration has saddled the U.S. economy with more than $1 trillion worth of final rules and regulations thus far in 2024, according to analysis conducted by the American Action Forum (AAF).The Environmental Protection Agency’s (EPA) final emissions regulations for light- and medium-duty vehicles, which some have characterized as an electric vehicle (EV) mandate, pushed the costs of the Biden administration’s regulatory agenda over the $1 trillion threshold for 2024, alone, according to AAF’s analysis. Across all agencies and regulatory actions last week, the federal government published regulations imposing $103 billion worth of total costs and 11.6 million annual...

The April pronouncements of Federal Reserve Chairman Jerome Powell at Stanford University have sparked a crucial discourse about the ramifications of mass immigration on the American economy. Powell's observations emphasized the significant role of immigrants, particularly within lower-paying sectors of the labor market, prompting economists to hastily reconsider their projections. The forecasts presented by the Congressional Budget Office (C.B.O.) paint a stark panorama: an astounding 3.3 million individuals entered the United States in 2023 alone, with similar figures anticipated for 2024. While some champion these statistics as heralds of economic expansion, the underlying reality is bleak. The majority of this...

Americans have been sour on the economy since President Joe Biden was sworn into office. As we head into an election season that is likely to be a 2020 rematch between Biden and former President Donald Trump, voters give Republicans and Trump an edge on economic issues. An April 12-14 poll from Echelon Insights found that 57 percent of all voters somewhat or strongly disapproved of the way Biden is handling the economy, and favored Trump on making the economy work better by 48 percent to 40 percent. That's only a recent example of what surveys have routinely shown: Voters...

WASHINGTON (Reuters) - Inflation showing no recent sign of slowing or narrowing in scope leaves U.S. Federal Reserve policymakers challenged this week over how to characterize their next steps even as the countdown to a contentious U.S. presidential election continues. The Fed is seen holding its benchmark interest rate steady at 5.25%-to-5.5% at its April 30-May 1 meeting, and a key judgment in the current policy statement - that inflation "remains elevated" - may have to remain in place after the pace of price increases accelerated over the first three months of the year after steadily slowing through 2023. Details...

Biden is again on a tax-raising rampage. He proposes to increase income taxes by nearly $5 trillion for corporations. Increasing the corporate income tax rate to 28% (from 21%) will be a great driver of negative effects on the U.S. economy, reducing long-run GDP by 0.9%, the capital stock by 1.7%, wages by 0.8%, and full-time jobs by 192,000. Additionally, Biden's new tax proposals include increasing the recently enacted corporate alternative minimum tax rate from 15% to 21% and denying business deductions for employee compensation above $1 million.Biden proposes an increase of the corporate income tax that's a higher tax...

Are Democrats starting to panic a little bit? Because it feels like they are panicking a little bit, and Nancy Pelosi illustrated that on Monday. Appearing on MSNBC, the former Speaker of the House flipped out on Katy Tur, accusing her of being an "apologist for Donald Trump." I don't think I have to explain how ludicrous it is to accuse anyone on television's most far-left network of being a fan of the former president. That's where we are, though. YIKES: Crazy Nancy Pelosi SNAPS at Katy Tur for reminding her that Biden's job "gains" are really jobs recovered from...

Dallas … and the US economy … after midnight. The Dallas Fed Manufacturing Outlook survey has now been in contraction (below zero) every month since May 2022, falling modestly to -14.5 in April (worse than the -11.2 expected). New Orders also remain negative (but did improve) and prices continue to rise (though at a slower pace). Labor market measures suggested flat employment and slightly shorter workweeks (hours worked index remained negative for a seventh month in a row) this month. However, wit that said, wage pressure picked up dramatically this week to a seven-month high… Source: Bloomberg However, as always,...

Joe Biden could barely eat his dinner at the White House Correspondents’ Dinner. And we think he is calling the shots in The White House?? Oh well. Perhaps it is Treasury Secretary Janet Yellen or Klaus Schwab of the World Economic Forum. In any case, Treasury bond issuance in 2024 is expected to hit $1.9 TRILLION. Surpassing levels seen even during the 2008 financial crisis. And with inflation, the US personal saving rate is near the lowest level since Obama (2010). And with the core inflation rate still higher than anytime since 2010, households are paying more for … everything...

The U.S. economy is showing signs of stagflation as growth slumps down and prices continue to surge for average Americans, experts told the Daily Caller News Foundation. U.S. annual economic growth measured just 1.6% in the first quarter of 2024, following a report of persistently high inflation in March of 3.5% year-over-year. The combination of both low growth and high inflation, in conjunction with continuously high amounts of government spending and debt, has led to signs of stagflation in the U.S. economy, which wreaked havoc on U.S. consumers throughout the 1970’s, according to experts who spoke to the DCNF. “It’s...