Business

Chet Hanks and the Rise of a Controversial Meme
Business

Chet Hanks and the Rise of a Controversial Meme

More news - Recent news In the spring of 2021, Chet Hanks, son of Tom Hanks, sparked controversy by declaring that it would be a “white boy summer.” Initially ambiguous, the phrase has since been co-opted by white supremacist groups, according to a report by the Global Project Against Hate and Extremism. This year, the slogan has appeared in thousands of Telegram posts, used by far-right groups to recruit, organize protests, and incite violence, particularly against immigrants and LGBTQ individuals. The phrase now symbolizes an unabashed celebration of white heterosexual masculinity, often at the expense of women and people of color. Wendy Via, co-founder of the Global Project Against Hate and Extremism, noted that the meme has moved from the fringes of the Internet to mainstream pol...
Costner’s Expensive ‘Horizon’ Bites the Dust at the Box Office
Business

Costner’s Expensive ‘Horizon’ Bites the Dust at the Box Office

Related media - Breaking news "Inside Out 2," featuring Anxiety personified, maintained its position as the top film in North America for the third consecutive weekend. Meanwhile, "A Quiet Place: Day One," a suspenseful prequel, exceeded expectations with its strong ticket sales. However, Kevin Costner’s three-hour film “Horizon: An American Saga – Chapter 1” was largely ignored by moviegoers. Originally intended for streaming, this supposed start to an Old West series eventually made it to theaters, but failed to attract significant interest. Pixar’s “Inside Out 2” was projected to gross $57.4 million, reaching a three-week total of about $470 million in the U.S. and Canada, according to estimates from box office analysts on Sunday. The well-received sequel is approaching $1 billion...
USA Today Editor-in-Chief Terence Samuel Resigns
Business

USA Today Editor-in-Chief Terence Samuel Resigns

Related media - Latest news USA Today Editor-in-Chief Terence Samuel announced Monday he is stepping down after a year in office. Samuel, a veteran journalist, had joined USA Today in July of the previous year from National Public Radio, where he had been a senior executive overseeing all news programs. Neither Samuel nor USA Today gave a reason for his departure. In an email to the newsroom, Monica Richardson, a senior vice president at USA Today, said Samuel’s resignation was “effective today.” Caren Bohan, the political editor, will temporarily take over as managing editor while the publication conducts a national search for a new chief newsroom editor, Richardson wrote. In an interview on Monday, Samuel described his departure as "sudden," but did not provide further details abou...
How Taylor Swift’s Eras Tour Could Affect the European Economy
Business

How Taylor Swift’s Eras Tour Could Affect the European Economy

Related media - Breaking news It’s not just Taylor Swift fans who are keeping an eye on the dates of her Eras Tour. One of Europe’s leading economists is well aware that the singer will be spending the summer zipping around Europe’s stadiums. Philip Lane, the European Central Bank's chief economist, had the pop star in mind when he spoke at an event on Monday. He was asked about the risk that persistent inflation in the services sector could intensify, especially as Europe heads into a particularly busy summer with the Paris Olympics and the Euro 2024 soccer championship in Germany. “Well, that’s really interesting,” he said at the event. “You managed to say all that without saying Taylor Swift.” Ms. Swift will tour Europe this summer, bringing with her hundreds of thousands of Swift...
The Fed’s preferred inflation measure shows signs of cooling
Business

The Fed’s preferred inflation measure shows signs of cooling

Related media - Recent news The Federal Reserve's preferred measure of inflation continues to show signs of cooling, accompanied by moderate growth in consumer spending - welcome news for central bankers aiming to control rising prices and curb demand. The personal consumption expenditures (PCE) index rose 2.6% year-over-year in May, in line with economists’ expectations and down slightly from a 2.7% gain in April. Excluding the more volatile prices of food and fuel, the “core” inflation measure also rose 2.6% year-over-year, down from 2.8% in April. On a monthly basis, inflation remained remarkably subdued, with overall prices not showing any significant increase. The Federal Reserve is likely to scrutinize this new inflation data as it considers its next policy moves. Since 2022, ...
In the United States, hiring is on the rise, as are salaries
Business

In the United States, hiring is on the rise, as are salaries

More news - Breaking news Employers added 272,000 jobs last month, the Labor Department reported Friday, well above what economists had expected as hiring had gradually slowed. That was up from an average of 232,000 jobs in the previous 12 months, muddying the picture of an economy easing into a more sustainable pace. Most worrying for the Federal Reserve, which meets next week and again in July, is that wages rose 4.1% from a year ago, a sign that inflation may not yet be defeated. “For those who thought they were going to see a rate cut in July, that door has largely been closed,” said Beth Ann Bovino, chief U.S. economist at U.S. Bank. While wage increases are good for workers, she noted, persistent price increases are sapping their spending power. Shares fell shortly af...