Author: Press Room
NEW YORK, NEW YORK – MAY 12: A worker stacks groceries at a store in Brooklyn on May 12, 2026, in New York City. Newly released data from the Labor Department’s consumer price index showed that inflation rose 3.8% from April 2025. The rise in fuel, food, and other essentials for millions of Americans comes as a 10-week war with Iran continues to be a drag on both the domestic and international economy. (Photo by Spencer Platt/Getty Images)Getty ImagesInflation rose to 3.8% year over year in April, driven largely by a surge in energy prices tied to the U.S.–Israeli conflict…
Every single day that the Strait of Hormuz is closed, the damage that is being done to the global economy is getting even worse. But the full consequences of the global oil crisis that we are facing will not be felt for a while because nations all over the globe are still running through their strategic oil reserves. And the full consequences of the global fertilizer crisis that we are facing will not be felt until harvest season. So don’t judge the severity of this emergency by what we are experiencing at this moment, because the truth is that what…
A real estate executive delivering a commencement address at the University of Central Florida was met with a chorus of boos and jeers after declaring that AI represents the next Industrial Revolution. The New York Post reports that Gloria Caulfield, vice president of strategic alliances at Orlando-based Tavistock Development Company, sparked controversy during her speech to communication and media graduates at UCF’s Addition Financial Arena on Friday night. Her remarks about AI drew an immediate and vocal negative response from the audience. “The rise of artificial intelligence is the next Industrial Revolution,” Caulfield stated, which prompted loud boos from graduates and…
That Was a Very Bad Inflation Report We better hope that April showers bring May flowers because last month we got drenched in inflation—and we could use a bloom of good news as we head into the summer months. Tuesday’s consumer price index (CPI) report was bad enough on the surface. Prices rose 0.6 percent in April, following March’s blistering 0.9 percent increase. Compared with a year ago, consumer prices were up 3.8 percent, a sharp acceleration from the 3.3 percent annual pace recorded in March. The usual excuses were available. Energy prices did a lot of the damage. The…
World Health Organization Director-General Tedros Adhanom Ghebreyesus has warned that “we might see more cases” of the deadly Andes strain of hantavirus emerge in the coming days, after an 11th case was recorded.The virus has killed three people who left Argentina on a cruise ship last month, and infected eight others. The most recent case was confirmed by the Spanish Health Ministry on Tuesday, and involves a passenger who had been quarantined in a military hospital in Madrid after traveling on the ship.“At the moment, there is no sign that we are seeing the start of a larger outbreak, but…
The overwhelming majority of the German public is dissatisfied with the performance of Chancellor Friedrich Merz’s coalition government on immigration. A survey from INSA on behalf of Berlin’s BILD newspaper this week found that 78 per cent of voters do not think that the government has sufficiently addressed the immigration issue. In contrast, just 11 per cent of voters agreed with Chancellor Merz’s declaration that “large parts” of the migrant crisis have been solved. Perhaps more crucially, even supporters of the Merz’s Christian Democratic Union (CDU) and its regional sister party, the Christian Social Union in Bavaria (CSU), remain pessimistic over…
Prices for goods and services produced by U.S. companies soared in April, far exceeding economists’ estimates and marking the worst monthly inflation in more than four years. The Producer Price Index for final demand rose 1.4 percent compared with the previous month, the Bureau of Labor Statistics said Wednesday. Compared with a year ago, producer prices are up six percent, the biggest increase since December 2022. The surge was driven by a war-fueled spike in energy prices that is beginning to ripple through broader segments of the economy, including freight transportation and manufacturing supply chains. Energy costs alone rose 7.8…
NEW YORK (AP) — Harvey Weinstein’s defense urged jurors Tuesday to put an end to a #MeToo-era rape case that has gone to trial three times, arguing that the former Hollywood honcho should be acquitted. “It’s just not true,” lawyer Marc Agnifilo said as closing arguments began in the retrial of an allegation that Weinstein raped hairstylist and actor Jessica Mann in a New York hotel in 2013. “She has taken on a false narrative about all of this.” Prosecutors will get their turn later Tuesday to make their case to the jury, which will have to sift through the…
Acting Attorney General Todd Blanche will attend Wednesday’s Republican Study Committee lunch, according to three people granted anonymity to describe plans for the private meeting. He will join Pentagon policy chief Elbridge Colby and Sen. Jim Banks (R-Ind.) as guests of the group of conservative House Republicans. Read the full article here
Madrid has joined a chorus in Europe calling for a standalone force amid the growing rift with the US Spain has become the latest European nation to call for the EU to build its own army as opposed to relying on the NATO framework, citing a growing rift with the US. The idea itself, however, has split European NATO members, with many still viewing the US-led military bloc as a preferable defense mechanism.Whatever the outcome of those debates, most NATO nations are engaged in an accelerated militarization campaign costing hundreds of billions of dollars in the long run, citing an…