Author: Jack Mulligan

Russia launched a significant attack on Ukraine’s energy infrastructure on Thursday, leaving over one million households without power, according to Ukrainian officials. This marks the second large-scale strike on Ukraine’s power grid in less than two weeks. The assault, involving over 200 missiles and drones, targeted multiple regions across Ukraine, with emergency power outages implemented nationwide. Areas hit include Lviv, Rivne, Volyn, and Ivano Frankivsk, as reported by The Associated Press. Zelenskyy Denounces “Insidious Escalation” Ukrainian President Volodymyr Zelenskyy condemned the strikes, noting that Kalibr cruise missiles equipped with cluster munitions were used, impacting civilian targets. Calling the attack an…

Inflation in Australia has dropped to a three-year low, with the headline consumer price index (CPI) rising just 2.1% in October. However, Reserve Bank of Australia (RBA) Governor Michele Bullock has reiterated that the central bank will not cut the cash rate until inflation consistently returns to the target range of 2–3%. Focus on Sustained Inflation Control While the headline CPI aligns with the RBA’s target range, Bullock emphasized the importance of the trimmed mean inflation rate, which excludes volatile components. This measure stood at 3.5% in October, exceeding the RBA’s target. “The word sustainability is important, because it recognizes…

Sri Lanka has initiated a debt exchange to restructure $12.6 billion of its bonds by offering longer-dated notes, marking a significant step in its recovery from a 2022 default. The program involves swapping existing bonds for new international bonds with a 27% haircut on their nominal value, as outlined in a prior agreement between the government and creditors. A creditor committee representing about 40% of the bondholders has expressed support for the offer, signaling a strong backing for the initiative. A Key Milestone in Debt Restructuring Tuesday’s announcement represents a milestone in Sri Lanka’s efforts to rebuild its financial standing…

President-elect Donald Trump’s selection of hedge fund executive Scott Bessent as Treasury Secretary has sparked optimism among business leaders and financial markets, who view the decision as a stabilizing choice amidst an unconventional cabinet lineup. While Wall Street is celebrating, skepticism remains about the potential benefits for Main Street. A Pragmatic and Safe Choice Bessent, a 62-year-old global investor with ties to legendary money managers like George Soros and Stanley Druckenmiller, survived internal debates over the appointment. Business leaders praised the move as a prudent decision. “There’s huge relief,” said Jeffrey Sonnenfeld, founder of the Yale Chief Executive Institute. “Bessent…

Over a year after its launch, Threads is finally addressing one of its users’ most requested features: the ability to set their “Following” feed as their default view. Meta CEO Mark Zuckerberg announced on Monday that the feature is now being tested, alongside options to set the “For You” or a custom feed as the default. Listening to Users: The Long-Awaited Feature The introduction of this feature follows Threads’ recent rollout of custom feeds, which allow users to curate their feeds around specific topics or user profiles. This update enables Threads to compete with Bluesky, a decentralized social network that…

Starting January 7, 2025, McDonald’s will launch McValue™, a new value platform designed to give customers more ways to enjoy their favorite meals for less. The program features popular deals like the $5 Meal Deal, exclusive app offers, local discounts, and a new customizable Buy One, Add One for $1 offer. A Tailored Approach to Value Joe Erlinger, President of McDonald’s USA, emphasized the personalized approach behind McValue. “We know there’s no one-size-fits-all when it comes to value. This new platform lets customers define value on their terms,” he said. By collaborating with franchisees across the country, McDonald’s aims to…

China is considering maintaining a 5% economic growth target for 2025, a move that reflects its ambition to navigate global economic pressures, including potential tariff hikes from the United States. This strategy, if confirmed, would signal Beijing’s commitment to economic resilience and global competitiveness amid rising trade tensions. Pushing for Ambitious Growth Amid Global Slowdown A 5% growth target for 2025 would defy market expectations of a gradual slowdown in the Chinese economy. While many analysts predicted a more conservative target due to challenges like weaker global demand and escalating U.S. tariffs, Beijing appears ready to aim high. According to…

Inflation in the U.K. rose to 2.3% in October, its highest level in six months, up from 1.7% in September, according to the Office for National Statistics. This marks a return above the Bank of England’s 2% target and reflects pressures from higher domestic energy bills and stubbornly high inflation in the services sector, which comprises around 80% of the British economy. Bank of England’s Rate Cut Path Slows The inflation spike complicates the Bank of England’s recent monetary easing strategy. Earlier this month, the Bank cut its main interest rate by 0.25% to 4.75%, marking the second reduction in…

As 2025 approaches, over 70 million Americans who rely on Social Security benefits are gearing up for important updates to their monthly payment schedules. The Social Security Administration (SSA) has released the updated payment schedule for the upcoming year, including essential details for retirees, survivors, and individuals receiving disability benefits. These changes are especially significant for Supplemental Security Income (SSI) beneficiaries and are designed to minimize disruptions caused by holidays and weekends. Key Details About 2025 Social Security Payments Social Security payments are issued based on program conditions and the type of benefit a recipient receives. Below is an overview…

A recent Jacobson Q3 2024 Insurance Labor Market Study reveals that a significant majority of insurance carriers plan to increase or maintain staff levels over the next 12 months. While job growth within the industry is ongoing, the pace remains modest. Hiring Trends and Industry Priorities For the first time in the study’s 15-year history, technology roles have been outpaced by other areas in terms of demand. Underwriting and claims positions now hold the top hiring priorities, with technology coming in third. The report highlighted that 52% of companies plan to expand their workforce, consistent with figures from January 2024,…