News On Business – Consumers around the world are feeling the pinch of inflation. And it’s not just at the grocery store. Prices are rising across the board. A key factor driving this rampant inflation is the cost of energy, which affects all industries and translates into even higher prices for the average consumer.
A global rise in wholesale electricity and gas prices means households across Europe will face higher energy bills this year and beyond. At worst, many of the most vulnerable regions face fuel poverty, according to consumer groups. Prices started rising above historical levels last September and have continued to rise this year.
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The pandemic has affected many industries, including entertainment. But when theaters, concert halls and museums closed, the streaming wars raged. In addition to Netflix, Disney, Amazon Prime and Apple TV sign up thousands of new subscribers daily. However, in the waning days of the pandemic, the question arose as to whether they could sustain them. For Netflix, the king of streaming, the news hasn’t been good in 2022, as Gizmodo explains:
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The world’s most popular streaming service announced in its Q1 earnings that it lost 200,000 subscribers, where it had originally expected to gain 2.5 million. She predicted doom and gloom for the next quarter as well, with a predicted loss of two million more. The company began laying off employees and closing production to prevent further slumps.
In this Business English News lesson, we look at business English vocabulary related to the economy, especially the relationship between inflation and interest rates.
Government spending throughout 2021 was beneficial for the business sector. Jobs returned, production rose, and many countries ended the year on a positive note. But growth—and years of low interest rates—raised the specter of inflation, or rising prices. All eyes are now on central banks, particularly in the United States, to see how they will respond. As the NY Times reports:
Federal Reserve policymakers have shifted into anti-inflation mode, saying they will scale back their pandemic-era stimulus more quickly at a time of rising prices and strong economic growth. The move caps a challenging year with a policy shift that could bring higher interest rates in 2022.
Unit 26: Negative Messages
You’ve probably heard stories of young investors lured by the promise of quick profits in the world of “crypto,” or cryptocurrency. And while it’s Bitcoin that gets the lion’s share of attention, there are more than 10,000 digital currencies in use today. There are big names like Ethereum, Binance and Ripple. And then there are currencies like Dogecoin and Loser Coin that started as a joke. If you’re confused by the hype, you’re not alone. So what is cryptocurrency? According to Investopedia:
A cryptocurrency is a digital or virtual currency that is secured by cryptography, making it nearly impossible to counterfeit or double spend. A characteristic of cryptocurrencies is that they are generally not issued by any central authority, making them theoretically immune to government interference or manipulation.
In this Business English News lesson, we look at English vocabulary related to how the pandemic is changing the workplace.
It’s clear that the COVID-19 pandemic has spurred incredible changes in how we work. At the end of 2020, a whopping 42% of the US workforce continued to work remotely. This meant rapid upskilling and massive investment in technology and infrastructure.
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According to Candace Helton, COO at Ringspo, “It’s worth noting that 70% of companies were working on digital transformation before the pandemic hit.” However, the pandemic has raised its hands, and the resulting shift in work culture around the world will drive even more businesses to embrace remote capabilities as the new normal.
In this new normal, relationships are different. There are no corner offices, no staff rooms and no cubicles in a virtual workplace. There are fewer physical reinforcements of the hierarchy. And it’s oddly humanizing to see a CEO deal with the same distractions like kids and barking dogs that we all experience when working from home.
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Business News: Another Interest Rate Hike Coming
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