Author: natixis-ezine

Europe’s central bank to hike rates in July, 1st in 11 years

natixis-ezine

Read time : 3 mins

Level : Advanced

(AP Photo/Peter Dejong)

AMSTERDAM (AP) — The European Central Bank will raise interest rates next month for the first time in 11 years and add another hike in September, catching up with other central banks worldwide as they pivot from supporting the economy during the COVID-19 pandemic to squelching soaring inflation.

The surprise move Thursday marks a turning point after years of extremely low interest rates but faces risks from weakening prospects for economic growth. Russia’s war in Ukraine has sent shock waves through the global economy, particularly as energy prices have soared and clobbered Europe, which relies on Russian oil and natural gas.

“Russia’s unjustified aggression towards Ukraine continues to weigh on the economy in Europe and beyond,” bank President Christine Lagarde told reporters. The war is “disrupting trade, is leading to shortages of materials and is contributing to high energy and commodity prices.” Continue reading

America’s Affair With Plastic Money and How Credit Card Issuers Treat Consumers Differently

natixis-ezine

Read time : 3 mins

Level : Intermediate

By Ram Chakradhar

When it comes to credit card usage, spending habits, and saving money, men and women behave differently. The study also shows varied treatment of credit card issuers based on gender. You may be surprised to learn that men were more likely to have their credit card limit reduced than women during the pandemic.

Key Findings

Men were 1.5 times more likely to have their limits reduced than women. 82% of the men are less careful about their credit card dues than 71% of women. Men also carry over balance every month than women. When applying for a new credit card, men’s primary reason is a balance transfer, while women do it for spending rewards. Both agree that high-interest rates and annual fees are the biggest annoyance.Forbes Advisor, a financial comparison site, studied 2,005 American adults’ credit card usage, spending habits, frustration, and Covid-19 pandemic impact. The survey shows that 53% of the men saw their credit card limit reduced in the past two years compared to 37% of women. Continue reading

Red-hot summer job market awaits US teens as employers sweat

natixis-ezine

Read time : 3 mins

Level : Advanced

(AP Photo/Robert F. Bukaty)

By PAUL WISEMAN and MAE ANDERSON AP Business Writers

WASHINGTON (AP) — Mary Jane Riva, CEO of the Pizza Factory, has a cautionary message for her customers this summer: Prepare to wait longer for your Hawaiian pie or calzone.

The Pizza Factory’s 100 West Coast locations are desperately short of workers. With about 12 employees per store, they’re barely half-staffed — just when many more Americans are venturing out to restaurant chains like hers.

“The days of 15-minute orders,” Riva said, “may not be happening anymore.”

Talk to other employers in America’s vast hospitality sector — hotels, restaurants, public pools, ice cream parlors, pick-your-own strawberry farms — and you’ll hear a similar lament. They can’t fill many of their summer jobs because the number of open positions far exceeds the number of people willing and able to fill them — even at increased wages.

Some help may be coming: School’s out for summer, cutting loose millions of high school and college students for the next three months. Riva, for one, is hoping to field more job applications from students seeking summertime spending money. Continue reading

BTS visits White House to discuss combating hate crime surge

natixis-ezine

Read time : 3 mins

Level : Intermediate

(AP Photo/Susan Walsh)

By WILL WEISSERT Associated Press

WASHINGTON (AP) — K-Pop sensation BTS visited the White House on Tuesday to talk with President Joe Biden about combating the rise in hate crimes targeting Asian Americans — bringing superstar sizzle to an otherwise sad and scary topic.

Band members J-Hope, RM, Suga, Jungkook, V, Jin and Jimin joined White House press secretary Karine Jean-Pierre at her briefing with reporters on the final day of Asian American and Pacific Islander Heritage Month. Jimin said the band had been “devastated by the recent surge” of crime and intolerance against Asian Americans that has persisted since the start of the coronavirus pandemic.

“It’s not wrong to be different,” Suga said through an interpreter. “Equality begins when we open up and embrace all of our differences.” V said that “everyone has their own history.” Continue reading

Portable Device Creates Drinkable Ocean Water in Minutes

natixis-ezine

Read time : 3 mins

Level : Advanced

By Dane Dickerson

A crack team of research engineers from the Massachusetts Institute of Technology (MIT) develops a user-friendly and portable unit that removes salt and other particles from ocean water in a flash. It is roughly the size of a suitcase and incredibly easy to use.

The portable desalinization unit was born in MIT’s Research Laboratory of Electronics (RLE), the birthplace of Ion Concentration Polarization (ICP) which is the filtration process behind its compact design.

For over a decade, a team of five, including senior author Jongyoon Han, sculpted a revolutionary desalination device into existence. It is primarily envisioned to help communities without clean drinking water create their own, among other applications. Continue reading