Recent research indicates a surge in global coal power capacity, led by China, with a net increase of 48.4 GW in 2023. China alone contributed about two-thirds of this growth, while other countries such as Indonesia, India, and Vietnam also added new coal plants. Despite efforts in some regions like the U.S. and U.K. to slow plant closures, the total retired capacity was the smallest … Continue reading China accounted for two-thirds of new global coal plant capacity in 2023

Warren, Michigan-based Universal Logistics is permanently closing two subsidiaries, resulting in the layoff of 677 employees. The closures affect Logistics Insights Corp. and Universal Dedicated of Detroit, both located in Detroit. Universal Dedicated of Detroit’s closure impacts 230 truck drivers, while Logistics Insights Corp.’s closure affects 164 warehouse workers, 212 forklift operators, 26 dockworkers, and 45 clerical employees. The reason for the closures was not … Continue reading Over 1,300 Layoffs Hit Logistics Companies Across US

Inflation data for the first quarter of 2024 indicates persistent price pressures, causing concern among investors, consumers, and policymakers. Despite being lower than the rapid pace of 2022, inflation remains stubbornly high, with future expectations increasing. The unexpected trend has led to market turbulence, with stocks experiencing significant declines, particularly on Friday. Even minor data points, such as import prices, contribute to the inflation narrative, … Continue reading Surging inflation fears sent markets tumbling and Fed officials scrambling

The cryptocurrency market experienced significant selling following an Iranian drone and missile attack on Israel. Bitcoin dropped around 8% as the attack unfolded, hitting a low of below $62,000 before rebounding to over $64,000. Other digital coins, like ether, also saw declines of up to 10%. This marked the sharpest sell-off for bitcoin in over a year, despite recent price highs driven by inflows into … Continue reading Bitcoin and other cryptocurrencies tumble amid Middle East tensions 

Gold prices increased while Asian stocks mostly declined on Monday due to escalating geopolitical tensions in the Middle East following Iran’s unprecedented attack on Israel. Major Asian indices such as Japan’s Nikkei 225 and South Korea’s Kospi experienced declines of over 1% in morning trade, while Hong Kong’s Hang Seng Index dropped by 0.8%. However, China’s Shanghai Composite Index saw a rise of 1.2%. The … Continue reading Gold prices rise, Asian markets fall after Tehran’s attack on Israel