Co-founder of Oak Capital says it's time for the Fed to consider raising interest rates
Howard Marks, co-founder of Oaktree Capital Management, said it was time for the Fed to consider raising interest rates before it was too late. "there are bubbles everywhere," Marks said in an interview on Thursday. "I'm not talking about today, but let's not miss the opportunity to raise interest rates." Marks said the Fed should not hold back for fear of another "undersize panic". He points out that pension funds and many other institutional investors rely on a return of 7 per cent a year, but that may not be true when the federal funds rate is 00:00
The White House explained why Tesla was not invited: who told you not to have a trade union?
Jen Psaki, the White House press secretary, responded to a tweet by Tesla CEO Elon Musk on Thursday after Mr Musk said it seemed "strange" that Tesla was not invited to an event in the White House related to the Biden administration's initiatives on electric cars. At her daily news conference, Psaki was asked to explain why Tesla was not invited to the event, despite the company's leading position in the electric car industry. "of course, we welcome all who recognize the future of electric cars," Psaki said.
The labor shortage worsens, and nearly half of America's small businesses are unable to recruit enough workers to set a record
The National Independent Business Federation (NFIB) said on Thursday that nearly half of small business owners in the US reported job vacancies in July, a record high, more than double the historical average. The association said in its monthly employment report that after adjusting for seasonal factors, 49% of small business owners reported job vacancies in July, up from 46% in June, and 27 percentage points higher than the average of 22% over the past 48 years. The report also showed that 93% of employers said they received few or no “qualified” applications for the positions they were trying to fill in July. Small businesses in the US are continuing to meet this summer
Virgin Galactic Space Tour resumes ticket sales and increases ticket price to $450,000
Virgin Galactic, a space travel company owned by British billionaire Richard Branson, released second-quarter results after the market on Thursday and announced that it will resume ticket sales. Ticket prices have risen sharply from 250,000 US dollars per seat until now to 450,000 US dollars per seat. “We have a range of purposeful products to suit the different ways people want to share the private astronaut flight experience,” the company's CEO Michael Colglazier said during the earnings call. The company also announced that its next space flight test will take place in late September at New Mexico's Spaceport Ame (Spaceport Ame)
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