Flush with cash, Democrats back midterms ‘inflation act’ ad blitz

US President Joe Biden delivers remarks on the impact of Russia’s invasion of Ukraine on food supply and prices, and his Administration’s efforts to support farmers and food processors, Kankakee, Illinois, US, May 11, 2022. REUTERS/Tom Brenner Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Aug 16 (Reuters) – Buoyed by a string … Read more

David Rosenberg says recession ‘unavoidable’ for Bank of Canada

Iva Poshnjaric, BNN Bloomberg Inflation in Canada is unavoidable: David Rosenberg VIDEO SIGN OUT Canada’s inflation cooled in July, but one prominent Bay Street economist said the latest data will compel the Bank of Canada to stay the course with its rate-hiking plans. “There’s nothing here, even when you look through the various components, that’s … Read more

As inflation and supply chain concerns ease, will insurers adjust pricing?

Supply chain issues driving inflation since early in the COVID-19 pandemic remain a concern, although emerging signs suggest some trends impacting global goods pricing are starting to abate. “We’ve seen some easing of the supply chain challenges,” said Colette Taylor, chief operating officer of Sovereign Insurance. “You’re not seeing so many boats [in harbours] waiting … Read more

Biden to sign Democrats’ sweeping bill to tackle climate change, lower health-care costs

Placeholder while article actions load President Biden on Tuesday will sign into law the Inflation Reduction Act, an ambitious measure that aims to tamp down on inflation, lower prescription drug prices, tackle climate change, reduce the deficit and impose a minimum tax on profits of the largest corporations. “President Biden and Congressional Democrats have worked … Read more

Walmart sees smaller annual profit drop as discounts draw inflation-hit shoppers

Sees full year adj. EPS down 9-11% vs 11-13% before Home, electronics, apparel remain ‘problem areas’ – CFO Stock up 5% Aug 16 (Reuters) – Walmart Inc (WMT.N) said inflation-weary shoppers continued to buy groceries at its stores in the most recent quarter, though many held back from purchasing other merchandise despite steep discounts on … Read more

Inflation chipping away at your back-to-school budget? Here’s how to save – National

Balancing the budget for back-to-school shopping is more difficult for parents this year as rampant inflation threatens piggy banks nationwide. More than a third of parents (36.2 per cent) expect to pay more for back-to-school shopping compared with years previous, according to a study from the Retail Council of Canada (RCC) released in late July. … Read more