Big Oil called out in Congress for avoiding climate action

Climate scientists accused four of the world's largest oil companies Tuesday of lying about the harms linked to their industry and trying to delay the switch to cleaner fuel. American multinationals ExxonMobil and Chevron, as well as Britain's BP and Shell, are being investigated by Congress for their roles in spreading misinformation about climate change to protect their profits.

SEE THE PRICE BIG OIL MAY HAVE TO PAY IN THE FUTURE

US trade deficit approached $1 trillion milestone in 2021

The U.S. trade deficit approached $1 trillion in 2021 as Americans imported more goods and services despite the ongoing supply chain snarls created by the COVID-19 pandemic. The latest statistics show the goods and services deficit leapt 27% to reach $859.1 billion, up from $678.7 billion in 2020. Imports of consumer goods increased by $5.2 billion versus only $1.2 billion in exports.

SEE HOW WIDE THE TRADE GAP WITH CHINA HAS GROWN

iPhone Price Index provides surprising economic insight

There are countless formulas used to quantify economic data, but a new measure of the cost of living is shedding light on consumer spending. The iPhone Price Index (iPI) compares the affordability of iPhones across countries in terms of the hours it takes to work at minimum wage to own an iPhone. The results are astonishing.

SEE HOW THE US STACKS UP AGAINST THE WORLD IN iPI