Rising gas prices push inflation to 40-year high
June 10, 2022
Inflation in May jumped 8.6 percent year-over-year, according to data from the Bureau of Labor Statistics. Rising gas and food prices were major, but not the sole, contributors to the increase as air travel, auto, clothing, household furnishings and medical care also cost more.
Recent News
Samsung Electronics Workers Stage Historic Strike
In an unprecedented move, workers at Samsung Electronics went on strike for the first time ever. The one-day strike was organized by the National Samsung Electronics Union (NSEU), the largest of Samsung’s unions, and took place outside Samsung’s Seoul office building. The strike stems from a deadlock in negotiations over pay bonuses and time off. Most of the striking workers hail from Samsung’s chip division, underscoring the specific challenges the company faces in this intensifying AI sector.
Nvidia’s Stock Soars Tenfold Following 10-For-1 Split
Shares of Nvidia, the hottest stock on the S&P 500, surged tenfold on Friday following the company’s highly anticipated 10-for-1 stock split. Announced in May during Nvidia’s latest earnings call, the stock split went into effect after the market closed.
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H Mart Celebrates Grand Opening of First Utah Location
Utah has welcomed its very first H Mart, the renowned Korean American grocery store chain, known for its wide array of Asian and international products. This milestone marks the opening of H Mart’s newest location in West Jordan, situated at 1442 West 9000 South, the site of a former K-Mart.