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Red Sea crisis could jeopardize inflation fight as shipping costs spike globally

In this article HLAG-DE MAERSK.B-DK Follow your favorite stocks CREATE FREE ACCOUNT A ship transits the Suez Canal towards the Red Sea on January 10, 2024 in Ismailia, Egypt. Sayed Hassan | Getty Images U.S. shipping costs are spiking as attacks in the Red Sea disrupt global trade, raising fears that inflation might pick up again if the disruption persists. The diversion of container ships from the Suez Canal around the Cape of Good Hope in South Africa is having a "global contagion" effect on freight rates, according to a S&P Global report published this week. Trade between Asia and Europe has faced the largest impact with the…

Innovative Digital Banking: The Rise of Black Banx

Share Tweet Share Share Email It should be said that digital banking did not end traditional banking. Instead, it revolutionised the landscape of financial services and paved the way for more technologically advanced banking platforms. At the forefront of this revolution stands Black Banx, a fintech pioneer championed by visionary entrepreneur and German billionaire Michael Gastauer. This groundbreaking company has not only embraced the digital banking wave but has also played a pivotal role in its evolution, setting new standards in the industry. The story of Black Banx’s rise in the digital banking space is a testament to how…

Here’s the inflation breakdown for December 2023 — in one chart

Consumers shop in Rosemead, California, on December 12, 2023. Frederic J. Brown | Afp | Getty Images The annual inflation rate edged higher in December following two months of declines. However, that reversal likely isn't cause for concern — and may be somewhat misleading, economists said. "We're still making progress in the inflation fight," said Sarah House, senior economist at Wells Fargo Economics. The consumer price index rose 3.4% last month relative to a year earlier, the U.S. Labor Department reported Thursday. That's a larger increase than the 3.1% in November and 3.2% in October . The index has fallen by half since…

Who is James Watt? Brewdog CEO criticised for slashing London wages

News | UK Brewdog CEO James Watt has made headlines this week after he decided to stop paying his staff the real living wage . From April, new staff will receive £11.44 per hour, while those in London will remain on £11.95 an hour, with both rates are considered below the real living wage. Watt explained that the company had to make some "hard decisions" to improve the business's profitability. He said: “Even with [a] strong performance over Christmas, as a wider business there is no hiding from the fact that in 2023, we made a trading loss, and despite many efforts in the past 12 months to reduce our spending, we still need to…

High housing costs have kept 31% of Gen Z adults living at home

These days, housing affordability is a struggle for nearly everyone. But for young adults just starting out, soaring home prices and sky-high rents have become one of the greatest obstacles to making it on their own. Nearly one third, or 31%, of Generation Z adults live at home with parents because they can’t afford to buy or rent their own space, according to a recent report by Intuit Credit Karma that polled 1,249 people ages 18 and up. ( Gen Z is generally defined as those born between 1996 and 2012, including a cohort of teens and tweens.) More from Personal Finance: Why workers’ raises are smaller in 2024 Consumers are racking…