Tag Archives: crisis

U.S. Commerce Secretary Gina Raimondo says it’s high time for lawmakers to pass legislation that helps end a crippling pandemic-fueled semiconductor shortage that has been going on for a longer than a year.  “It’s a crisis,” Raimondo said of the shortage on Yahoo Finance Live.  Findings from a new Commerce Department survey underscore the extent of that crisis.  The median inventory of semiconductor products highlighted by buyers has fallen from 40 days in 2019 to less than five days in… Source link

Restaurant operators and workers across the U.S. are struggling to rebound from the pandemic, and are battered by a lack of staff, skyrocketing prices and supply shortages. Paula Tejeda is one of them.  Even after mass vaccinations, customer traffic is “still very shaky,” Tejeda, the owner and founder of Chile Lindo, a deli and coffee shop in San Francisco, said in an interview with Yahoo Finance. “The hospitality business, which is restaurants, small coffee shops and bars, are not back…. Source link

The overdose crisis in the U.S. is continuing to worsen as a result of the coronavirus pandemic.  Drug overdose deaths increased by 30.8% for the 12-month period ending March 2021, according to the latest provisional data from the CDC’s National Center for Health Statistics, with reported numbers reaching a record high of 96,779. The CDC noted that the number is likely an undercount given incomplete data. “By the end of 2020, we knew that the number of overdoses for 2020 were going to be… Source link

With shipping delays mounting and cargo piling up at Los Angeles County ports, local officials are tightening the rules on , part of an effort to ease congestion of freighter ships anchored along Southern California’s coast. Beginning Nov. 1, carriers will be charged $100 per container, with the fee increasing $100 per container per day — but the fee will not be assessed until Nov. 15. Collected fees will be reinvested by the ports in programs to increase efficiency and address congestion,… Source link

(Bloomberg) — Oil surged past $80 a barrel as the global power crunch rattled a market in which OPEC+ has only been restoring output at a modest pace. Most Read from Bloomberg West Texas Intermediate futures climbed around 2% in Asian trading after topping the psychological price threshold on Friday for the first time since November 2014. The prices of fuels such as coal and natural gas are soaring in Europe and Asia as stockpiles run low ahead of the Northern Hemisphere winter, prompting a… Source link

Shipping containers are unloaded from ships at a container terminal at the Port of Long Beach-Port of Los Angeles complex, amid the coronavirus disease (COVID-19) pandemic, in Los Angeles, California, U.S., April 7, 2021. REUTERS/Lucy Nicholson As we head closer to the second anniversary (if that’s the right word for it) of the pandemic, it’s clear we’ve made some great progress fighting COVID-19. We have testing and vaccines that work. We know masks and social distancing are effective…. Source link

BofA warns oil could hit $100 this winter and spur crisis — protect yourself this way The worldwide energy crunch could push oil prices above $100 a barrel for the first time in years and trigger a global economic crisis, Bank of America warned on Friday. “[O]il prices could spike and lead to a second round of inflationary pressures around the world,” analysts including Francisco Blanch wrote in a note. “Put differently, we may just be one storm away from the next macro hurricane.” Of… Source link

As regulators circle cryptocurrency, acting Comptroller of the Currency Michael Hsu warned that the U.S. could be heading for a new financial crisis if oversight over the industry isn’t tightened. “If the crypto industry doesn’t evolve or is more responsible, then we will be headed” for a potential rerun of 2008, Hsu told Yahoo Finance in an exclusive interview. The official is one of several crypto skeptics within the Biden administration who have taken more of a hardline on… Source link

Petrol prices have forced the government to resort to extreme measures. Photo: Getty Energy markets have stayed in focus as the most volatile factor in markets on Tuesday in London, as the price of oil per barrel headed above $80 for the first time in around three years.  Brent Crude (BZ=F) was 1% higher, to trade at $80.34 (£58.75) at the opening bell in London. Crude (CL=F) was also up around 1% to trade at $76.27.  The fuel supply crisis has forced the UK government to draft in the army… Source link

Nearly a month after the U.S. Supreme Court designed to keep struggling tenants in their homes as COVID-19 surges anew, assistance is slowly going out to millions of people behind on their rent. More than $2.3 billion in federal emergency rental assistance went out in August to some 420,000 households, the most of any month to date since the money was made available, according to the Treasury Department. Despite the uptick in disbursements, however, millions are still living in fear of being… Source link