A few months ago, we looked at the hardships facing the European olive oil industry as unpredictable weather led to poor harvests and diminishing supplies over the last year. Not only have olive oil prices risen across the globe as a result, but this production crisis has also given fraudsters a golden opportunity to exploit the lack of supply. For instance, this week authorities in Italy and Spain seized more than 68,000 gallons of olive oil that was deemed “unfit Continue reading
The annual sales bonanza known as Black Friday now lasts for much longer than 24 hours, beginning in the days before Thanksgiving and continuing on through Cyber Monday. And while a record number of American consumers turned out at stores to check out this year’s bargains, they didn’t exactly spend a lot of money. According to data from the National Retail Federation, an estimated 200.4 million people shopped over the five days after Thanksgiving, amounting to more than 60 percent Continue reading
After travel rates plummeted during the pandemic, Americans have been steadily hitting the road and boarding planes every year since. Thanksgiving is usually the busiest time for travel, and 2023 will be no different. From the Wednesday before Turkey Day to the end of the weekend, AAA estimates that there will be more than 55.4 million people traveling in the U.S. The vast majority will travel by car, with 49 million Americans expected to head out on the highway next Continue reading
For six weeks, members of the United Auto Workers have been on strike against General Motors, Ford, and Stellantis, parent company of the car brands Chrysler, Jeep, and Ram. Demanding significant wage increases and improved job security, the union employed a bold strategy of slowly expanding its labor action to more plants as time progressed. After starting at three factories owned by each of Detroit’s Big Three automakers, the UAW gradually added more locations to the strike, confounding management and Continue reading
Last week, we looked at how rising sugar costs will contribute to higher candy prices this Halloween. Of course, sweets aren’t the only product affected by global supply issues. Due to poor weather conditions in Europe, olive oil prices have more than doubled over the past year. The situation is worst in Spain, the world’s largest producer of olive oil and victim of a drought that has devastated recent harvests. Bad weather across the continent has also led to Continue reading