Business News

1709650462 At just 19 years old she overcame her fear and

At just 19 years old, she overcame her fear and started her own business

Shana Dubé can finally make a living from her art after starting her business at just 19 years old.

“Shana Illustrious” offers phone cases, notebooks, bags and lots of accessories with her drawings on the cover.

“Ever since I was young, I've made little resolutions and one year I wrote that I wanted makeup cases with my drawings on them. “It started that way, but my mom is an entrepreneur and I made rings when I was young, so I’ve always had that passion,” she says.

Art helps him control his fear.

“I have performance anxiety. I had the grades needed to become a doctor and realized that wasn't what I wanted to do. I always leaned a little more towards art, but the hardest part was coming to grips with it,” she explains.

At just 19 years old, she overcame her fear and started her own business

Mental health is at the heart of the approach

The young entrepreneur wanted to share her story to help as many people as possible. For example, on some of its products we can read phrases “I need you tomorrow” to comfort customers who are going through a more difficult time.

“I've been through a lot of things with anxiety and hospitalizations, so it's just that when you only see the negative, there are people who need you. I want people to look at the case and remember that they are not alone when they go through difficult things,” she says.

In addition, she believes that this is one of the points that differentiates her from the competition.

“Yes, there is competition, but I don’t like to think of it as competition because we don’t convey the same values.”

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Bitcoin BTC price expects record this week

Bitcoin (BTC) price expects record this week

Bitcoin (BTC) is set to hit an all-time high high before the end of the week, says Markus Thielen, head of research at 10x. “It is always important to track price movements over the weekend, even if it was attempted [liquidate] There are no sellers due to the leveraged long positions,” Thielen said in a note titled “Everyone will be surprised by Bitcoin’s price action this week.” The cryptocurrency hit a record in euro terms on Monday and was at press time on Tuesday trading at around $66,839, less than 3% below its all-time high in dollar terms of $69,000 reached in November 2021. The broader CoinDesk 20 Index (CD20) was 4.7% higher. Another rally could be on the way, according to Laurent Kssis, a crypto ETP specialist at CEC Capital. Buying pressure appears to be strong among retail investors as they view recent Bitcoin exchange-traded funds (ETF) spot inflows as an important moment of momentum. “The inflows are still very supportive and not quite over yet, which could and could continue to push the price higher in the cryptocurrency markets,” he said.

Deutsche Börse, the operator of Germany's largest stock exchange, has started a crypto spot trading platform for institutional clients, the company said in a statement on Tuesday. DBDX offers a fully regulated ecosystem for trading, settlement and custody of crypto assets, the company said. Trading on DBDX is initially based on a request for quotation (RFQ), followed by multilateral trading. Deutsche Börse will operate the trading venue and Crypto Finance will provide settlement and custody services.

Baanx, a cryptocurrency payments specialist authorized by the UK Financial Conduct Authority (FCA), has done so behaved $20 million in Series A funding round, the company announced on Tuesday. The investment, which included Ledger, the Tezos Foundation, Chiron and the British Business Bank, brings the crypto payments provider's total funding to over $30 million. London-based Baanx, which operates the Ledger card product, recently signed a three-year partnership with Mastercard for the UK and Europe. Big legacy payments companies like Mastercard and Visa are quietly exploring things like Ethereum payments, stablecoins and the Web3 world of non-custodial wallets – areas where Baanx offers seamless connectivity.

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1709646330 More and more repairs Your devices are no longer as

More and more repairs: Your devices are no longer as reliable as they used to be

Due to the lack of reliability of their household appliances, which break down just a few years after purchase, Quebec residents have no choice but to turn to repairers more often, although the costs can be high.

This was the case for Simon St-Pierre, who had to have his refrigerator repaired less than three years after purchasing it. Without warning, the device's compressor gave up the ghost. Not too practical with two small children.

“It's annoying. It should last longer, he says. This is the first time it's happened to me.

“It was explained to me [que] Today's refrigerators have smaller compressors than before. Because they exert more force, it breaks more.”

Appliance repairs have been very busy in recent years.

Since the introduction of electronic parts, household appliances have broken more easily. Photo provided by Daniel Gagné

When he realized that his refrigerator was no longer doing its job, he quickly switched to solution mode. At the end of the race he had to pay a bill of more than $400.

“If you pay more than $2,000 for a product, you shouldn't have to spend $400 a few years later,” he adds. There is no brand that is better than the other. The phenomenon is widespread. It’s a little disappointing.”

Another consumer also had a disturbing experience when his refrigerator decided to quit in January.

  • Listen to the interview with Marie-Ève ​​​​Bergeron, project manager at Protégez-Vous, on Mario Dumont's show about QUB :

On January 13, the brick company gave Vincent Duquette and his wife a repair date in 30 days.

“We panic a little, me and my partner. We're wondering how we're going to survive without a fridge for a month. Then I get an email telling me it won't be until March 8th! Luckily my parents had a small fridge in their garage and they lent it to us while we waited,” he says.

Lack of reliability

Although they cannot provide precise statistics, the four repair companies contacted by Le Journal agree. The unreliability of household appliances is one of the reasons for the increase in the number of calls.

Appliance repairs have been very busy in recent years.

Daniel Gagné believes that household appliances break down much more quickly than before. Photo provided by Daniel Gagné

“When I started 31 years ago, the first repairs only came after 17 years,” says Daniel Gagné, lead technician at Electro Clinic. We’re talking more than three or four years.”

“Over the years, companies have added parts and electronics to the devices. It’s more fragile than before.”

At Patrick Réhel, a repairer with 35 years of experience, the number of calls has increased by 15% in recent years.

“All brands fail in the first five years,” he says. The quality is no longer the same. It’s not as good as it used to be.”

“For example, a hose that was once made of rubber is now made of plastic. It breaks with the snap of a finger.”

The downside of technology

The presence of electronic components makes the appliances even more sensitive, said Sylvain Lebel, president of the Corporation of Household Appliance Technicians of Quebec (CTEQ).

“For this reason, it will break more often,” he points out. Current fluctuations are catastrophic for household appliances.”

“If a customer tells us about outages or recurring outages in their industry, that doesn’t bode well for their equipment.”

Appliance repairs have been very busy in recent years.

Sylvain Lebel, president of the Corporation of Household Appliance Technicians of Quebec, believes that electronics have changed the situation in terms of appliance reliability in recent years. Photo provided by Sylvain Lebel

He also sees customers who don't properly maintain their devices or use them appropriately.

“It’s also about certain manufacturers programming the lifespan of their devices,” mentions Lebel. There’s no point in doing that.”

“You can't screw up your product like that, especially if a customer is paying for an overpriced cooktop. Companies will not risk damaging their reputation.”

Repair or throw away?

Devices older than ten years are more difficult to repair due to the scarcity of available parts.

“I just told a customer that there’s nothing you can do with his refrigerator,” says Patrick Réhel. He had to spend $1,500 to extend the lifespan and he told me that was the price of a new unit.”

When repair costs exceed $1,500, technicians often advise customers to purchase a new unit. Then they are faced with a heartbreaking decision.

“There are many devices that we can no longer repair because the parts are no longer available from our suppliers,” says Asma Makhlouf, who works for Service 2000. “This forces our customers to buy new devices more often.”

–In collaboration with David Descôteaux

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Tesla factory in Germany halts production after suspected arson

Tesla factory in Germany halts production after suspected arson

March 5, 2024, 11:21 GMT

Updated 1 hour ago

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Firefighters were at the Tesla factory on Tuesday morning to check safety

Tesla halted production at its car factory in the German capital Berlin on Tuesday morning after a suspected arson attack was carried out nearby.

A utility pole near the plant caught fire, causing power outages at the plant and surrounding towns.

Environmental activists protesting the expansion of the site denied responsibility for the fire.

Tesla said workers had been sent home but that the building was in a “safe condition.”

The fire did not reach the electric car maker's factory itself, but burned a power pole and high-voltage cables.

“The constitutional state will react to such an act of sabotage with the utmost severity,” said Brandenburg’s Interior Minister Michael Stübgen.

However, he warned against “hasty speculation” about who was responsible for the alleged arson.

Around 100 environmental activists are currently camping in the forest near the factory and protesting against the expansion.

Robin Wood, one of the environmental groups in the forest, told the BBC it had “nothing to do with the fire”.

Tesla wants to double the size of its factory – the only one in Europe – but demonstrators are against it because it would require felling surrounding trees.

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Protesters have set up treehouses in the forest near the factory

The Tesla factory currently produces around 500,000 cars a year – the company owned by Elon Musk wants to double this number.

“We cannot currently say when production can be expected to resume,” Tesla said in a statement to AFP news agency.

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The FTQ and the Solidarity Fund are forcing the Finance

The FTQ and the Solidarity Fund are forcing the Finance Minister to bend

Big victory for the FTQ and the FTQ Solidarity Fund. They managed to push back the Legault government and its Finance Minister Eric Girard on their decision to prevent taxpayers with “high incomes” of $112,655 and above from benefiting from the attractive tax credits when investing in labor from this year 2024' Medium.

In fact, Finance Minister Eric Girard's office has just announced that the government is postponing for three years the entry into force of this new tax regime, which was intended to prevent “rich” taxpayers in Quebec from taking advantage of the tax relief benefits given to shareholders starting this year of the FTQ Fund and the Fondaction de la CSN.

While Quebec wanted to cut its credit by 15%, Ottawa had to follow suit and also cut its credit by 15%. These cuts will ultimately not take effect until 2027, giving “high-income” taxpayers three more years to invest up to $5,000 per year in employee funds and benefit from the 30% tax credits (up to $1,500). dollars/year).

  • Listen to the economy part with Michel Girard above QUB :

What a beautiful coincidence

You should know that on January 24, the two most senior leaders of the FTQ trade union center, President Magali Picard and Secretary General Denis Bolduc, registered as lobbyists to meet François Legault, Eric Girard and the members of their respective companies. With what lobbying mandate? “Removal of the taxable income cap ($112,656) for eligibility for the 15% provincial tax credit for employee funds,” says the Carrefour Lobby Québec website.

Why did the Legault government want to prohibit high-income taxpayers in Quebec from benefiting from 30% tax credits on RRSP contributions from the Fonds FTQ and Fondaction CSN?

“This change, effective from tax year 2024, will provide access to the tax credit to approximately 60,000 savers whose taxable income is less than or equal to the threshold for the final taxable income bracket,” we explained in Treasury Secretary Eric Girard's March 2023 budget.

Since there are annual caps on share subscriptions in the two workers' funds, the Legault government assumed that by preventing the “rich” from investing in them with the intention of benefiting from tax credits, enough space would be freed up for 60,000 new savers with modest incomes Provide the opportunity to invest in employee funds.

According to the latest tax statistics (year 2020) published by the Quebec Ministry of Finance, this year around 86,200 taxpayers with incomes of $100,000 or more had invested part of their savings in employee funds, i.e. about $355 million. I calculated that they had shared $53.2 million in provincial tax credits and of course the same amount in federal tax credits, for a total of $106 million in savings. Taxes on their contributions to employee funds.

  • Listen to the economy part with Michel Girard above QUB :

Why is Quebec moving backwards?

The senior leaders of the FTQ and the FTQ Solidarity Fund made an offer that François Legault and his financier Eric Girard could not refuse!

What offer? The FTQ Solidarity Fund will invest heavily in housing if the government postpones for several years the entry into force of the regulation that prohibits high-income taxpayers from redeeming tax credits from employees' funds.

Deal done! As evidence: “In order to allow employee funds to attract more capital to increase their investments, especially in housing, the entry into force of this regulation is postponed for three years,” says the press release from the office of Minister Eric Girard.

And Janie C. Béïque, President and CEO of the Fonds de solidarité FTQ, added regarding the three-year postponement of the rule prohibiting the rich from investing in the fund: “The fund will thus be able to transfer its shares to the benefit of to increase socio-economic development, particularly by investing millions of dollars more this year in the construction of new housing in Quebec. »

In fact, we are talking about an investment by the Fonds de solidarité FTQ of at least $100 million in the construction of new housing.

This shows that the contribution of the “rich” to workers’ funds makes it possible to invest meaningfully in Quebec’s economy.

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China sets economic growth target of around 5.com2F8b2F572F54d08e7aa36bbb8a5ab85c109f642F35cd885ae86e4e0499b235af665eb712

China sets economic growth target of around 5%

BEIJING (AP) — China is targeting 5% economic growth this year, Premier Li Qiang said Tuesday, acknowledging that will be a challenging target in difficult times.

In his address to the annual session of the National People's Congress, Li outlined plans to increase spending on developing advanced technology, strengthening China's military and supporting the economy, among many other longstanding goals. However, there was no major stimulus package to boost markets and reassure worried investors.

Presenting an annual report on the past year and future plans, Li said the government will continue “proactive fiscal policy and prudent monetary policy,” suggesting that the leadership's approach to the economy will not change significantly.

He unveiled a plan to boost growth by issuing long-term bonds over the next few years, starting with 1 trillion yuan (about $139 billion) this year. The money would be spent on implementing “major national strategies” and strengthening security “in key areas.”

Li said the government is planning a “new development model” for the housing market, including building state-subsidized housing, to mitigate a prolonged real estate downturn that has taken a toll on the economy. This appeared to confirm reports that authorities are looking to use public funds to buy up some of China's legions of unoccupied apartments and convert them into affordable housing.

“The foundation for China's sustainable economic recovery is not yet stable because effective demand is insufficient, there is excess capacity in some industries, weak social expectations and there are still many risks and hidden dangers,” Li told delegates at the annual meeting of the Congress, China's ceremonial legislature, in Beijing's majestic Great Hall of the People, next to Tiananmen Square.

The government released a budget proposal that included 1.67 trillion yuan ($231 billion) in defense spending – a 7.2% increase, in line with the pace of increases in 2023 and reflecting a continued focus on security and the economy.

China's economy grew at a pace of 5.2% last year, but that was on top of the annual growth rate of just 3% in 2022, when millions of people were in lockdown for weeks and some businesses were forced to close as the country endured the worst of the disruption suffered through the COVID-19 pandemic. It will be harder to achieve the same growth rate this year as the economy starts from a higher base.

Initial reactions were skeptical, with Oxford Economics' Louise Loo saying she expected “potential growth probably closer to 4%.”

While 5% is a relatively ambitious target even for China and would be extremely robust for the US and other advanced economies, it is well below the double-digit growth seen as the country's economy transformed into a manufacturing hub.

“It will not be easy to achieve this year's goals,” Li said, referring not only to economic growth and other goals including increasing incomes, creating 12 million jobs and increasing the economy's energy efficiency to the climate goals.

China has set a target of reducing its energy consumption by 2.5% after failing to meet its target of a 2% reduction by 2023.

Xi Jinping, China's most powerful leader in decades, is at the helm of the party and has installed loyalists like Li in top positions to strengthen their influence over the economy and society. Xi, 70, is in his third five-year term as party general secretary and could hold the post for life.

The National Congress sessions last about a week and are China's biggest political events of the year. The Congress merely endorses policies already set by political leaders, but provides a platform to showcase the party's achievements and garner support for its goals.

World leaders have stressed the need to increase consumer spending to stimulate the economy. But the consumption-led recovery the company had banked on after anti-pandemic controls ended in late 2022 has faded and most forecasts expect growth to slow this year.

Falling property prices and job concerns have left many families either reluctant or unable to spend more. China's real estate market is in crisis after many developers failed to pay off their debts following a crackdown on excessive borrowing.

Li said the government would mitigate such risks and support local governments whose finances have been strained by high spending on anti-virus measures and lower tax revenues due to the decline in land rights sales.

China should not lose sight of “worst-case scenarios,” Li said.

But he reiterated calls for greater confidence despite China's challenges, citing the country's huge market of around 1.4 billion people, its advanced manufacturing capabilities and its huge workforce.

“The underlying trend of economic recovery and long-term growth remains unchanged and will not change,” he said. “That’s why we need to be more confident and self-assured.”

Among the dozens of projects Li listed in his roughly 30-page report in Chinese – including 55 pages in English – China is planning a “worry-free consumption” program this year to encourage people to spend more. Households are encouraged to trade in old cars and appliances and buy new ones.

Li also said the government would focus on employment, an urgent concern for the many people whose jobs have become more precarious during the pandemic and for many young Chinese who are struggling to find work after leaving school. The plans include unemployment insurance and other social support, as well as loans and grants for companies that can create many jobs.

The government also plans to provide support to local governments facing “economic difficulties” and indicated that Beijing would limit the damage caused by soaring debts of cash-strapped cities and regions.

___

Associated Press writer Huizhong Wu and researchers Yu Bing and Chen Wanqing contributed to the report.

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1709637869 New beginning in the management of Ivanhoe Cambridge

New beginning in the management of Ivanhoé Cambridge

The wave of resignations at the top of Ivanhoé Cambridge, the real estate subsidiary of the Caisse de dépôt etplacement du Québec (CDPQ), continues. This time it concerns Christian Daumann, as the head of his office in Berlin found out The newspaper.

For five days, since March 1, the former Ivanhoé Cambridge strongman in Germany has been acting as CEO of the German operations of QSix, a major real estate company based in London with offices in Amsterdam and Berlin. In a press release, QSix praises his extensive experience, his contact book and his enviable political connections.

Christian Daumann was commissioned by the Caisse's real estate subsidiary in September 2019 with, among other things, the task of opening an official branch of Ivanhoé Cambridge in Berlin. Under his leadership, Ivanhoé's portfolio in that country tripled and accounted for more than 10% of its European portfolio ($20 billion).

Ivanhoe is silent

The circumstances of his departure last November and the treatment Mr. Daumann has received since then are now jealously kept secret by Ivanhoé's Montreal management as the latter endures one of the worst crises in its history.

Resignations follow one another at Ivanhoé Cambridge, the real estate subsidiary of the Caisse de dépôt etplacement du Québec.  After announcing the departures of its CEO Nathalie Palladitcheff and its number one in Europe and Asia-Pacific Karim Habra, Ivanhoé confirmed to us yesterday the departure of Christian Daumann, head of its activities in Germany.

Christian Daumann, former Vice President Investments at Ivanhoé Cambridge in Germany. Photo: Ivanhoe Cambridge Photo Ivanhoe Cambridge

On Monday, Ivanhoé Cambridge refused to grant us an interview on the subject. However, his management confirmed via email Mr. Daumann's departure and his intention to continue his activities in that country.

“There are currently three Ivanhoé Cambridge employees based in Germany and we would like to reiterate that this country remains an important location for us,” the company responded.

Resignations follow one another at Ivanhoé Cambridge, the real estate subsidiary of the Caisse de dépôt etplacement du Québec.  After announcing the departures of its CEO Nathalie Palladitcheff and its number one in Europe and Asia-Pacific Karim Habra, Ivanhoé confirmed to us yesterday the departure of Christian Daumann, head of its activities in Germany.

Nathalie Palladitcheff, CEO of Ivanhoé Cambridge ARCHIVE PHOTO, QMI AGENCE

On the other hand, CDPQ's real estate department has not given an answer about the future of its Berlin office (will it remain open?). Nor with regard to the intention to find a successor to head the Berlin office.

The same veil was served to us in response to the following questions: Did Mr. Daumann leave of his own accord? Did he receive a severance package? If yes, how much please? The only answer was a six-word sentence: “We have nothing to add.”

Third start

Confirmation of this departure comes at a time when anxiety is at its peak among the 490 Ivanhoé Cambridge employees still working in Montreal and elsewhere around the world. The announced integration of the organization into the Caisse de dépôt gives rise to fears of the worst.

Resignations follow one another at Ivanhoé Cambridge, the real estate subsidiary of the Caisse de dépôt etplacement du Québec.  After announcing the departures of its CEO Nathalie Palladitcheff and its number one in Europe and Asia-Pacific Karim Habra, Ivanhoé confirmed to us yesterday the departure of Christian Daumann, head of its activities in Germany.

The CEO of the Caisse de dépôt etplacement du Québec, Charles Emond. Archive photo, Francis Halin

Two weeks ago, while presenting the 2023 financial results, Caisse de dépôt president Charles Emond warned that there would be significant layoffs in the coming months.

After announcing the repatriation of its activities within the CDPQ, the parent company, President and CEO Nathalie Palladitcheff, announced her resignation in January. The latter will leave her position at the end of April without severance pay, according to a press release. Ms Palladitcheff has so far refused to talk about her professional future.

Resignations follow one another at Ivanhoé Cambridge, the real estate subsidiary of the Caisse de dépôt etplacement du Québec.  After announcing the departures of its CEO Nathalie Palladitcheff and its number one in Europe and Asia-Pacific Karim Habra, Ivanhoé confirmed to us yesterday the departure of Christian Daumann, head of its activities in Germany.

Karim Habra, former Head of Europe and Co-Head of Asia Pacific, Ivanhoé Cambridge Photo: Ivanhoe Cambridge Photo Ivanhoe Cambridge

Last week we also announced the resignation of Karim Habra, Ivanhoé Cambridge's head of Europe and Asia Pacific. Based in Paris, he was responsible for 76 employees in Paris, London, Berlin, Sydney, Singapore, Shanghai and Mumbai.

Ivanhoé claims his departure was voluntary and no severance payment was officially paid to him. Just like Mr. Daumann, whom he himself had appointed to manage the company's activities in Germany, Mr. Habra has not yet been replaced.

Real estate assets of the Caisse de dépôt etplacement du Québec

  • CDPQ's total assets*: $434 billion
  • Ivanhoé Cambridge Real Estate Assets: 77 billion dollars

*Total value, including Ivanhoé Cambridge portfolio, as of December 31, 2023.

Source: CDPQ and Ivanhoe Cambridge

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Biden will create a joint FTC DOJ task force to crack

Biden will create a joint FTC-DOJ task force to crack down on “unfair and illegal pricing.”

Federal Trade Commission Chairwoman Lina Khan testifies before a House Judiciary Committee hearing on oversight of the Federal Trade Commission on Capitol Hill on July 13, 2023 in Washington, DC.

Kevin Worm | Portal

“We are pleased to co-chair the President’s new Strike Force on Unfair and Illegal Pricing, building on the FTC’s extensive work to promote competition and combat unlawful business practices that drive up costs for Americans.” FTC Chairwoman Lina Khan told reporters on a call Monday.

Jonathan Kanter, assistant attorney general for antitrust, will co-chair the task force with Khan.

“Here at the Department of Justice, we are taking on some of the most powerful corporations in the world so we can improve the lives of American families,” Kanter said on the call.

Jonathan Kanter, Assistant Attorney General for the Justice Department's Antitrust Division, arrives at the federal courthouse in Washington, DC on September 12, 2023.

Kevin Dietsch | Getty Images

On Tuesday afternoon, Biden will convene the sixth formal meeting of the White House Competition Council, a group of senior officials across the government tasked with rooting out anticompetitive practices across a wide range of industries.

“Over the last year, supply chains have returned to normal and inflation has fallen,” Lael Brainard, director of the National Economic Council, said on the call. “Some companies are not passing these savings on to consumers…President Biden is fed up with corporate practices that unfairly increase costs for consumers, and he is taking action.”

Before the council meeting, the Consumer Financial Protection Bureau will publish a final rule to reduce late fees on credit cards. The Department of Agriculture will also publish final protections for farmers from potentially discriminatory processing practices.

The announcements and meeting are part of Biden's ongoing crusade against companies' pricing practices, which he believes are unfair. The White House believes they directly contribute to the public perception that the economy is doing poorly, even though data objectively points to a strong U.S. economy.

“The Competition Council and its members have worked to reduce the cost of everything from hearing aids to asthma inhalers to epi-pens to air travel,” Brainard said.

Federal Reserve Vice Chair Lael Brainard speaks during an interview in Washington, DC, Monday, November 14, 2022.

Andrew Harrer | Bloomberg | Getty Images

However, the question remains as to exactly what measures regulators can take to crack down on companies that exercise their pricing power more aggressively than others.

“Across these agencies, there are dozens of laws that can come into play in certain situations when high prices harm consumers,” a senior administration official said on Monday’s conference call. “And it depends on how and when.”

Biden has pointed to “price gouging” and “shrinkflation” as two examples of corporate pricing strategies that keep profits high even as wholesale and transportation costs fall.

But two months into the election year, the narrative of a strong economy may finally be gaining traction among voters who have not yet given Biden credit for the economy's soft landing. Instead, they blamed him for the increased cost of living following the pandemic.

Four new surveys released over the weekend pointed to signs of growing economic optimism among respondents.

Still, the polls showed Biden trailing his likely opponent in November, twice-impeached former President Donald Trump, in a hypothetical head-to-head contest.

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