Top headlines for July 27, 2022: Deadly earthquake rocks the Philippines – A large 7.1 magnitude earthquake hit a northern Filipino island on Wednesday sending tremors throughout the capital city. Four people were initially reported dead with another 60 people injured. Nearly 200 buildings were damaged and 58 landslides have been reported in the earthquake’s…

As record heat hits parts of the United States, Reuters reported a June heat wave killed so many cattle that some cows had to be disposed at a Kansas landfill. The cows were flattened by loader machines and mixed with trash. “After you run them over they’ll go flat, but they’re gonna sponge back up,”…

Two major social media platforms appeared to be struggling from a revenue standpoint, as Snapchat reported its weakest sales growth ever and Twitter reported a loss of $270 million in quarterly reports. The losses can be partially explained by uncertainty about the U.S. economy, with social media platforms taking a big hit in ad revenue.…

Wedding season is in full swing and this year especially, there’s a good chance you’ve received at least one save-the-date in the mail. Whether you are involved in the planning or simply attending a loved one’s nuptials, it’s going to cost you more than previous years. Weddings are a $58 billion per year industry, and…

The electric vehicle (EV) industry continued to grow this week, with new competition from Ford and Chevy entering the market and existing powerhouse Tesla growing its revenue. Chevy has unveiled a new electric SUV arriving in 2024. It will be able to go 320 miles on a full charge. “What’s significant is that Chevrolet is…

Government data shows the U.S. economy shrank the first six months of 2022. With slowing growth, a bear market and ever-tightening Federal Reserve monetary policies, recession warning signs are flashing in many areas of the economy. Current conditions have experts debating whether the U.S. is heading toward a recession or is already in one. At…

As COVID-19 continues to challenge economies around the globe, China’s economy has cooled while India could become the world’s fastest growing economy. China released data showing the country’s economy slowed sharply in the second quarter, largely due to a zero-COVID policy and lockdowns. China’s gross domestic product grew 0.4% from April to June 2022. It had grown almost 5% in…

Gas prices in the U.S. have been dropping for almost a month after the nationwide average reached $5 per gallon. But the cost of filling up at the pump remains a driving force behind record-high inflation, leading to speculation the Federal Reserve may raise interest rates by a full percentage point. President Biden’s poll numbers…

Inflation continues to grow at record levels. The newest data from the Labor Department shows the Consumer Price Index (CPI) at 9.1% for June, another 40-year high. What’s behind the continuing surge in inflation? Rising costs for essentials like food and rent are playing a key part. So is the summer travel boom. It’s so…

The U.S. hasn’t seen inflation this high since 1981, raising the possibility the Federal Reserve may do something it hasn’t done since then to tame it: That is to raise its benchmark interest rate by a full percentage point at one time. The possibility is being penciled in after June’s 9.1% consumer price report. Atlanta…