Billionaires have seen their wealth skyrocket over the past two years, adding roughly $2.7 billion per day to their fortunes while ordinary people struggle to afford basic necessities. As the world’s corporate and political elite convened in Davos, Switzerland for the first winter World Economic Forum in three years, an analysis published Monday by Oxfam International […]
“Today’s record corporate profits mirror what we have been hearing on earnings call after earnings call: Corporations are gleefully reporting that their strategy to burden families with unnecessary price hikes is working.” Economic justice advocates on Wednesday responded to new U.S. government figures showing nonfinancial corporate profits soared to record levels during the third quarter of […]
“It is unacceptable that certain companies and industries are engaged in extreme price hikes under the cover of inflation,” said Rep. Raja Krishnamoorthi. A report released Friday by a panel of the U.S. House Committee on Oversight and Reform highlighted how “certain corporations are using the cover of inflation to raise prices excessively, resulting in record […]
“This goes beyond run-of-the-mill executive greed, and it’s a stark example of rewarding failure,” said one critic. The top executives of utility giants in the United States are enjoying rising annual compensation as their customers in households across the country struggle to afford their high energy bills, with costs continuing to rise ahead of the winter […]