Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul class="summary-list"><li>Donald Trump's election victory last week is already having an effect on global supply chains.</li><li>While many firms are waiting to see what Trump's trade policies will be, some are moving ahead.</li></ul>Last week's electoral victory of Donald Trump is having an immediate effect on global supply chains, with several companies publicly discussing production changes they've made ahead of his return to the White House.During the campaign, Trump vowed to enact sweeping trade restrictions ranging from across-the-board import duties to increasing the cost of goods from China through tariffs as high as 60% to 100%.The wide range of possible outcomes has many firms waiting to see what the actual trade policies will be before enacting a final plan. Others are already moving ahead with elements of their supply chain strategy."I don't think anybody's surprised," TD Cowen analyst Oliver Chen told Business Insider. "The probability factor was high for either side."Further softening the element of surprise is the fact that the world has already experienced Trump's approach to trade — and China in particular — in his previous administration, which led many companies to develop more flexible sourcing.Bark Box CEO Matt Meeker called the reelection of Donald Trump "a bit of Groundhog Day for us."Before Trump became the Republican nominee, many companies were already exploring alternatives to their former reliance on China by finding partners in other Asian countries, or by "near-shoring" production to the Americas.Much of the executive commentary on earnings calls during election week signaled a wait-and-see approach regarding what the Trump administration will enact. Executives have also touted the agility of their current strategies.Several companies, however, aren't waiting to make changes to their supply chains.Premier Inc., a healthcare company that provides an array of products and services, said it has brought production of essential items, like face masks and isolation gowns, closer to the US as part of a multi-year effort to lessen dependence on Southeast Asia.Last week, CEO Michael Alkire said Premier's partners are asking the company to continue looking for sourcing that will be less affected by tariffs.Fortune Brands, which owns a portfolio of home products brands like Moen plumbing fixtures and Yale locks, has been rethinking its supply chain since Trump's tariffs in 2017."We've moved away almost everywhere from single source," CEO Nick Fink said. "Your secondary source may cost you a bit more than your primary source, but if your primary source were to become more expensive because of tariffs, you can dial that down and dial up your secondary source and rebalance it to be the most efficient.""We are very well positioned to handle increased tariffs," he added. "We don't invite it because it's a lot of hard work."In consumer goods, cooler brand Yeti started production earlier this year at its second non-China drinkware factory and said it is in the process of opening a third. By the end of next year, half of its drinkware production capacity will be out of China, the company said.Outdoor equipment and lifestyle products maker Clarus said it still has some production in China — Black Diamond headlamps and footwear — and is moving production to Vietnam and other countries.If a significant tariff increase is directed at China, Black Diamond brand president Neil Fiske said the company is prepared to pull orders forward."We may end up hedging inventory a little bit to buy us consistency in our pricing as we diversify," he said.Meanwhile, Rivian founder and CEO Robert Scaringe said the EV maker has chosen suppliers that it doesn't expect to ever be exposed to large tariffs, as well as writing contracts "in such a way that we're not carrying much of the risk.""What's going to be interesting is how far this reaches into the upstream supply chain," he added, referring to raw materials like steel and lithium. "That's something that every manufacturer, certainly ourselves included, are thinking about."Not everyone is talking trade, however.US trucking and logistics company Schneider National's executive vice president, Jim Filter, said clients are not yet asking him about how to get ahead of tariffs.If they do, he said, "that would happen at a little bit faster pace than what we would normally see, as currently our customers are really operating just under normal replenishment cycle, preparing for this holiday push."

Trump's win is already scrambling supply chains

India remains highly dependent on imports for minerals critical to accelerating its <keyword id="19951336" type="General" weightage="20" keywordseo="energy-transition" source="keywords">energy transition</keyword>, with a full reliance on shipping in lithium, cobalt and nickel, according to a report released Monday. The report, published by the Institute for Energy Economics and Financial Analysis (IEEFA), said that India's demand for <keyword id="19978839" type="General" weightage="20" keywordseo="critical-minerals" source="keywords">critical minerals</keyword> is expected to more than double by 2030, while domestic mining operations may take over a decade to start producing. It stresses that India needs a carefully crafted import strategy to mitigate potential trade risks while balancing international relationships to secure these essential minerals. IEEFA's report examines five critical minerals (and their compounds) - cobalt, copper, graphite, lithium and nickel - from the perspectives of import dependency, trade dynamics, domestic availability, and global price fluctuations. The findings show that India remains largely import-dependent for these minerals and their compounds, with 100 per cent import reliance for minerals like lithium, cobalt, and nickel. "India should strive to de-risk its critical minerals sourcing by identifying new international resources and expediting <keyword id="20681115" type="General" weightage="20" keywordseo="domestic-production" source="keywords">domestic production</keyword>. A concerted effort to partner with and foster bilateral relations with <keyword id="23713985" type="General" weightage="20" keywordseo="mineral-rich-nations" source="keywords">mineral-rich nations</keyword> should be a priority for India," said the report's co-author Charith Konda, Energy Specialist, IEEFA. "The country can also explore investment opportunities in resource-rich, friendly nations, such as Australia and Chile, as well as African countries like Ghana and South Africa," he added. The report said India depends heavily on China for synthetic graphite and natural graphite and it should explore cooperation initiatives with countries like Mozambique, Madagascar, Brazil and Tanzania which are some of the highest graphite producing countries. "As part of the Global South cooperation initiatives, these countries could be favourable partners for India for <keyword id="23713984" type="General" weightage="20" keywordseo="graphite-trading" source="keywords">graphite trading</keyword>," said the report's co-author Kaira Rakheja, Energy Analyst, IEEFA. India is also highly import-dependent for copper cathodes and nickel sulphates from just two countries - Japan and Belgium. The report suggests India could look at the US, the fifth largest producer of copper in the world, to diversify its suppliers and enhance <keyword id="23714709" type="General" weightage="20" keywordseo="supply-security" source="keywords">supply security</keyword>. For minerals like lithium oxide and nickel oxide, the dependency is low on one country, but overall imports largely come from Russia and China, both countries with potential trade risks. "Developing domestic lithium refining capacity will help India integrate with the global lithium supply chain," said Rakheja. The report also notes the significant efforts that the Indian government is making to improve domestic production of critical minerals with the auctions by the Ministry of Mines and the planned Critical Minerals Mission. "The critical minerals mining block auctions can serve as an opportunity for India to focus on building refining and processing capabilities to emerge as a global value-adding hub," said Rakheja. "Government support in the form of viability gap funding and technology development will help promote such auctions and ultimately the domestic production of critical minerals. "A stable supply of critical minerals is imperative for India to achieve its <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> goals," Konda said. India has committed to achieving 500 gigawatts (GW) of non-fossil fuel-based electricity installed capacity by 2030. Currently, the country's renewable energy installed capacity stands at 201 GW, with solar energy accounting for 91 GW. According to another study, the fast-developing South Asian nation needs to install around 7,000 GW of renewable energy capacity to achieve net-zero emissions by 2070.

Energy transition: India remains highly dependent on imports of critical minerals, says report

The government on Tuesday proposed a <keyword id="20789519" type="General" weightage="20" keywordseo="transit-oriented-development" source="keywords">transit-oriented development</keyword> plan for 14 large cities with a population of over 30 lakh in its budget for 2024-25 and said it will formulate a framework for the creative redevelopment of cities. Presenting the Budget in the Lok Sabha, Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> underscored that the Union government will work with states to facilitate the development of cities as "growth hubs". "This will be achieved through economic and transit planning, and orderly development of peri-urban areas utilising <keyword id="22517779" type="General" weightage="20" keywordseo="town-planning-schemes" source="keywords">town planning schemes</keyword>", the minister said. "Transit-oriented development plans for 14 large cities with a population above 30 lakh will be formulated, along with an implementation and financing strategy," Sitharaman said in her budget speech. The minister also announced Central assistance of Rs 2.2 lakh crore for <keyword id="20957520" type="General" weightage="20" keywordseo="urban-housing" source="keywords">urban housing</keyword> over the next five years as well as an <keyword id="22517780" type="General" weightage="20" keywordseo="interest-subsidy-scheme" source="keywords">interest subsidy scheme</keyword> to facilitate loans at affordable rates for urban housing works. She said the Central government will put in place measures for an efficient and transparent <keyword id="20071228" type="General" weightage="20" keywordseo="rental-housing" source="keywords">rental housing</keyword> market with enhanced availability. The minister proposed a scheme to support the development of 100 weekly haats or street food hubs in select cities. Sitharaman added that rental housing with dormitory type accommodation for industrial workers will be facilitated in PPP (public-private partnership) mode with VGF (viability gap funding) support and commitment from anchor industries." Enabling policies and regulations for efficient and transparent rental housing markets with enhanced availability will also be put in place, she said. About <keyword id="19939560" type="General" weightage="20" keywordseo="water-supply" source="keywords">water supply</keyword> and <keyword id="20082835" type="General" weightage="20" keywordseo="sanitation" source="keywords">sanitation</keyword>, the minister announced that the Centre in partnership with state governments and multilateral development banks will promote water supply, sewage treatment and <keyword id="19973309" type="General" weightage="20" keywordseo="solid-waste-management" source="keywords">solid waste management</keyword> projects and services for 100 large cities through bankable projects. According to her, these projects will also envisage use of treated water for irrigation and filling up of tanks in nearby areas. The minister stressed that the Central government will encourage states, which continue to charge high stamp duty, to moderate the rates for all, and also consider further lowering duties for properties purchased by women. This reform will be made an essential component of urban development schemes, she added.

Budget 2024-25: Govt announces transit-oriented development plan for large cities

<keyword id="19899404" type="General" weightage="100" keywordseo="Bitcoin" source="keywords">Bitcoin</keyword>'s recent surge to record-breaking highs has left many scratching their heads in awe. Within the first two weeks of March, the cryptocurrency defied gravity, surging 30% and reaching an all-time high of $73,000 or ₹60.5 Lakhs on March 13. The surge was thanks to two major factors as per experts: US SEC’s approval of spot Bitcoin ETFs and the upcoming <keyword id="8466625" type="General" weightage="20" keywordseo="Bitcoin-halving" source="Orion">Bitcoin halving</keyword>. By April 19 or 20, the Bitcoin <keyword id="20204648" type="General" weightage="20" keywordseo="halving" source="keywords">halving</keyword> is expected to occur in order to reinforce this inherent scarcity. Here’s what the latter means for investors. Read Also: <a href="https://www.businessinsider.in/cryptocurrency/article/bitcoins-bizarre-hike-renewed-enthusiasm-last-quarter-what-does-the-future-hold-for-investors/articleshow/109306609.cms" data-type="tilCustomLink">Bitcoin’s bizarre hike renewed enthusiasm last quarter! What does the future hold for investors?</a> What sets Bitcoin apart from traditional assets like stocks and bonds is its decentralized nature and finite supply. Scheduled to occur approximately every four years, Bitcoin halving involves reducing the reward miners receive for validating transactions by half — a mechanism that is hard-coded into Bitcoin's protocol. And this has inevitably led to a rally in prices in the past. “Historically, Bitcoin had a bull run after every halving. Though the correlation between Bitcoin halving and price is not always immediate as seen in the last three halvings, this year we’re already seeing a run-up in prices. After the first halving, in Nov 2012, the price jumped from $12 to $1207 within a year. From $647 around the second halving in 2016, Bitcoin surged to $20,000 by Dec 2017. In the third halving of May 2020, we saw the price go from $8500 to $11,950 in 100 days and $65,000 by Nov 2021,” explains Balaji Srihari, Business Head at CoinSwitch. <div type="image" title="Bitcoin Halvings" msid="109310509" hostid="261" sizebytes="104185" caption="&amp;lt;p&amp;gt;Source: CoinSwitch Research&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="So, what is Bitcoin halving?" comment="subhead" text="So, what is Bitcoin halving?">So, what is Bitcoin halving?</cmsannotation> Launched in 2009 by the enigmatic Satoshi Nakamoto, the virtual asset is often referred to as "digital gold" with an ability to retain value in a world fraught with economic uncertainty. Bitcoin’s appeal lies in its scarcity and the belief that it offers a hedge against inflation and manipulation from any authority in power. As governments across the world conducted unprecedented quantitative easing post-pandemic, it only helped reassure this belief among many ‘unconventional’ investors. While the supply of most other currencies has been dramatically going up in the global economy over the last few decades, the halving events in Bitcoin’s protocol are designed to curtail its supply until the complete stop to its supply eventually. How exactly does it happen? Imagine you have a magical machine that can create gold coins, but there's a rule: every four years, this machine automatically reduces the number of gold coins it produces by half. This means that if it originally produced 10 coins per hour, after four years, it will only produce 5 coins per hour. Now, replace the gold coins with Bitcoin, and you've got the basic idea of Bitcoin halving! In the Bitcoin network, there are miners — computers that validate and secure transactions by solving complex mathematical problems. As a reward for their efforts, miners receive new Bitcoins. But, just like our magical machine, there's a rule built into the Bitcoin protocol that every four years, the number of new Bitcoins created as a reward for mining is cut in half. This is what is known in the industry as "Bitcoin halving." <cmsannotation type="cmsannotation" annotationid="So, why does Bitcoin halving matter?" comment="subhead" text="So, why does Bitcoin halving matter?">So, why does Bitcoin halving matter?</cmsannotation> Going back to the basics of economics, it's all about supply and demand. When the supply of new Bitcoins is reduced (halved), but demand for Bitcoin remains constant or increases, basic economic principles suggest that the price of Bitcoin may rise. This is because there are fewer new Bitcoins entering the market, making existing Bitcoins more valuable. Bitcoin halving events are significant because they affect the rate at which new Bitcoins are created, ultimately influencing the supply side of the Bitcoin market. This event is programmed into the Bitcoin protocol and occurs roughly every four years until the maximum supply of 21 million Bitcoins is reached by the year 2140. But, while the event makes Bitcoins scarcer and potentially more valuable, it is an expected event, a part of a four-year cycle. So, with this added layer of predictability, will it have any significant impact post-halving? Yes, say industry experts. “The indicators this time around, are all pointing to another upward rally. This year, Bitcoin also has other tailwinds. After gaining approval in January 2024, Bitcoin ETFs in the US such as the one offered by Blackrock and Fidelity have been buying up over 10,000 BTC per day creating a massive demand-supply gap,” Srihari told Business Insider India. Rajagopal Menon, VP at WazirX, says, “If historical patterns were to be followed, the prices of BTC might not undergo a significant surge before two months post-halving. However, Bitcoin has already defied that by reaching its all-time high before halving, for the first time ever. The next financial year will be quite promising for crypto with Bitcoin halving ensuring a surge in prices, with demand-supply dynamics being a key lever. India will witness a greater adoption rate for virtual digital assets with increased liquidity in the market.” “The 2024 halving is distinct due to the introduction of spot Bitcoin ETFs in the US, changing investment flows, and an evolving market structure… This synergy between ETF adoption and evolving market structures lays a robust foundation for Bitcoin's continued rise. While Bitcoin has always held the spotlight as the most popular crypto, the event will have broader implications for the entire ecosystem,” writes Sumit Gupta, Co-founder of CoinDCX in an <a href="https://economictimes.indiatimes.com/markets/stocks/news/why-is-bitcoin-halving-2024-different-from-previous-ones-what-investors-must-know/articleshow/109264343.cms">Economic Times column</a>. <cmsannotation type="cmsannotation" annotationid="Scepticism continues" comment="subhead" text="Scepticism continues">Scepticism continues</cmsannotation> Bitcoin's journey from fringe fascination to mainstream asset hasn't been without its challenges. Sceptics argue that its volatile nature makes it unsuitable for serious investors, while regulatory concerns loom large over its future. And past performance is not indicative of future results, the historical correlation between Bitcoin halving events and price appreciation has not gone unnoticed by investors. As April’s halving event approaches, speculation is rife about its potential impact on Bitcoin's price trajectory and is likely to have already been factored in. The past rallies post-halving also coincided with larger macroeconomic trends like the European debt crisis in 2012, the crypto world seeing the initial coin offering (ICO) boom in 2016, and the COVID-19 pandemic and unprecedented quantitative easing that followed in 2020. All these events contributed to heightened interest in Bitcoin during respective years. While Bitcoin's price may experience short-term volatility around the time of the halving, its long-term trajectory is influenced by a multitude of factors, including market sentiment, adoption trends, regulatory developments, geopolitical conflicts, and macroeconomic conditions. In a recent survey conducted by the Deutsche Bank, more than half (52%) of the 3,600 respondents expressed belief that cryptocurrencies will become an “important asset class and method of payment transactions” in the future. This is a significant change compared to the September 2023 survey when less than 40% of the respondents expressed a similar belief. However, 33% of the respondents expect Bitcoin to fall to $20,000 — less than one-third of the current levels — while only 10% believe that the prices will cross $75,000 by the end of this year. In conclusion, Bitcoin's recent ascent to all-time highs underscores its growing relevance in today's financial landscape but it remains a risky asset class. As cryptocurrency continues to capture the imagination of investors worldwide, it's essential to approach it with a blend of optimism and caution. Understanding and considering the implications of crucial events like the upcoming halving is important while making any investment decisions. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

Fervent Bitcoin trading approaches fresh supply crunch; Here’s what this week’s ‘halving’ event implies

<ul class="summary-list"><li>San Antonio's basic-income pilot helped low-income families afford housing and other necessities.</li><li>Participants received a total of $5,108 in no-strings payments over 25 months. </li></ul>When Monique Gonzalez received her money from the San Antonio <a target="_blank" href="https://www.businessinsider.com/universal-basic-income-emergency-cash-rent-homes-government-housing-aid-2024-1">guaranteed basic-income</a> pilot, she bought school supplies, shoes, and Christmas gifts for her children.<a target="_blank" href="https://www.businessinsider.com/san-antonio-ubi-guaranteed-basic-income-pay-housing-expenses-work-2024-3">The mother of six</a> said the program allowed her to afford things her family had "put on the back burner" because they didn't have the money. Gonzalez told UpTogether — a national nonprofit that has sponsored a series of GBI programs — that basic income was what she needed to invest in her children's future.San Antonio is one of several cities nationwide piloting guaranteed basic-income programs. For the most part, the programs offer no-strings-attached cash payments to low-income individuals over a set time period. Participants in cities such as <a target="_blank" href="https://www.businessinsider.com/ubi-cash-payments-reduced-homelessness-increased-employment-denver-2023-10">Denver</a>, <a target="_blank" href="https://www.businessinsider.com/austin-guarunteed-basic-income-gbi-ubi-housing-security-homeless-2024-1">Austin</a>, <a target="_blank" href="https://www.businessinsider.com/boston-guaranteed-basic-income-gbi-ubi-buy-home-pay-debt-2024-2#:~:text=A%20Boston%20guaranteed%20income%20program%20gave%20%24583%20a%20month%20for,part%20to%20the%20monthly%20payments.">Boston</a>, <a target="_blank" href="https://www.businessinsider.com/minneapolis-guaranteed-basic-income-program-results-study-gbi-ubi-2024-1">Minneapolis</a>, and <a target="_blank" href="https://www.businessinsider.com/universal-basic-income-works-red-state-blue-state-2023-10">Durham, North Carolina,</a> have reported using the money to secure housing, afford transportation, buy groceries, pay off credit-card debt, and drop second jobs. Some programs, like the one in Denver, <a target="_blank" href="https://www.businessinsider.com/denver-basic-income-project-ubi-extended-homelessness-poverty-2024-1">have been so successful</a> that their funding was extended.UpTogether oversaw San Antonio's pilot, investing $5,108 in each of the 1,000 individuals participating over a 25-month period. Program participants received an initial $1,908 payment in December 2020, followed by eight quarterly payments of $400 between April 2021 and January 2023. Participants had household incomes that fell below 150% of the federal poverty line — which is $46,800 for a family of four — and many were facing financial hardship because of the pandemic.<a target="_blank" href="https://www.businessinsider.com/basic-income-funding-comes-from-philanthropy-federal-budget-housing-taxes2024-4#:~:text=Guaranteed%20basic%2Dincome%20pilots%20across,incentivizes%20reliance%20on%20government%20aid.">Funding for the program</a> came from the city, foundations, and private funders.UpTogether is running an additional income pilot that will end in December 2024. Twenty-five UpTogether participants, including Gonzalez, are receiving $500 a month for 18 months."We have more opportunities to be happy, content, and healthy," Gonzalez said."This helped to eliminate a lot of the stressors we have."Shafeka Hashash, associate director of Guaranteed Income at the Economic Security Project, <a target="_blank" href="https://www.businessinsider.com/basic-income-gbi-ubi-low-income-americans-afford-housing-food-2024-5">told Business Insider in May</a> that pilot programs across the US show guaranteed income is an effective poverty solution.GBI has been piloted over 100 times since 2019. In contrast to traditional social services like <a target="_blank" href="https://www.businessinsider.com/snap-benefits-eating-less-skipping-meals-pandemic-funding-cut-2023-9">SNAP</a> and <a target="_blank" href="https://www.businessinsider.com/universal-basic-income-emergency-cash-rent-homes-government-housing-aid-2024-1">rental assistance</a>, basic income allows participants to choose to spend money where they need it most. And, Hashash said trusting families with no-strings cash assistance has far-reaching impacts."When you don't have this group of mothers whose babies are born into economic backslide, you inherently have a stronger community," she said. "When families receive a guaranteed income that improves their children's stability in the school system, you inherently have a stronger community."<h2 id="733c142b-735b-46b6-9f57-fd997497594c">San Antonio participants felt happier and more supported by basic income</h2>Program leaders in San Antonio <a target="_blank" href="https://www.uptogether.org/wp-content/uploads/2024/01/UTSA_UpTogether_Methodist-Healthcare-Ministries-Social-Determinants-of-Health-Study-2-1.pdf">surveyed participants</a> throughout their time in the program. Of the 182 participants who responded to a question asking them whether the cash payments had an overall positive impact on their lives, 161 answered affirmatively. Many said the money was critical for their daily survival and allowed them to cover expenses they otherwise couldn't afford.Ingrid Sullivan, a participant with four children and three grandchildren, told UpTogether that basic income allowed her to <a target="_blank" href="https://www.businessinsider.com/guaranteed-basic-income-san-antonio-texas-woman-afford-food-housing-2024-4">secure housing and reliable transportation</a>. She said the program allowed her to gain financial security with dignity and help pay for her family's needs."I felt supported for the first time ever," Sullivan said. "I didn't know what it felt like before this."San Antonio participants also told UpTogether that the GBI payments significantly improved their mental health. Many survey respondents said they experienced chronic stress about money. With some of that financial worry alleviated, participants reported being able to spend more time with their families or in their communities and said they generally enjoyed life more.For participants with families, many said their extra income went to enrolling their children in after-school and extracurricular activities and supporting their educations."I was able to do more at times because I was able to get my bills met," one survey respondent said. "In turn, I had extra money to be able to spend on my children to take them out or get them what they needed or wanted."The San Antonio pilot also provided program leaders with feedback. In the survey, some participants said future income programs should provide payments monthly instead of quarterly and provide more opportunities for in-person connection with other participants and the community.<h2 id="e68f8f4d-2fb8-4f82-bf96-2ebae7ac8622">Texas is a national leader for income programs, but GBI continues to face opposition</h2>Texas has been a major state for GBI pilots. Austin and <a target="_blank" href="https://www.businessinsider.com/universal-basic-income-texas-houston-harris-county-covid-relief-2023-12">Harris County</a> — which includes Houston — have also launched pilot programs that distribute cash payments monthly.In May 2022, the <a target="_blank" href="https://www.businessinsider.com/austin-guarunteed-basic-income-gbi-ubi-housing-security-homeless-2024-1">Austin Guaranteed Income Pilot</a> began distributing $1,000 a month for one year to 135 low-income households using funding from the city and philanthropic donations. Austin was the first Texas city to launch a taxpayer-funded guaranteed-income program.A report from the <a target="_blank" href="https://www.urban.org/sites/default/files/2024-01/Austin_Guaranteed_Income_Pilot_Participant_Outcomes_at_12_Months.pdf">Urban Institute</a>, a think tank based in Washington, DC, found that Austin GBI participants spent more than half of the money on housing, allowing some to purchase their first homes or more easily afford rent. After the yearlong program, participants also reported being more food secure: From a survey of 51 responses, the number of those unable to afford a balanced meal fell by 17 percent.<a target="_blank" href="https://www.businessinsider.com/austin-basic-income-gbi-ubi-housing-homeless-parenting-rent-texas-2024-2">Stephanie Hendon</a> was living in a shelter with her four kids while working long hours, but within a year of the program, she was able to rent a three-bedroom apartment, purchase a new car, buy clothes for her children, and get a new job. She said she's become more financially savvy and believes she's on the right path to financial stability while also being able to spend more time with her kids.However, the program wasn't a major success for every participant. <a target="_blank" href="https://www.businessinsider.com/austin-basic-income-gbi-ubi-housing-homeless-texas-2024-2">Jessica Nairns</a> said the program helped her advance her career and buy essentials, though she was still unhoused a few months after the program. She said she's grateful for the temporary assistance she received, though she couldn't invest money for the long term or find more secure housing.<a target="_blank" href="https://www.businessinsider.com/universal-basic-income-texas-houston-harris-county-covid-relief-2023-12">Harris County</a>, where about 16% of residents live below the poverty line, will provide participants in its pilot program — which is set to start payments in April — with $500 a month for up to 18 months. Officials are pulling from over $20 million of federal COVID-19 relief to fund the Uplift Harris project, which has been met with some <a target="_blank" href="https://www.businessinsider.com/guaranteed-basic-income-ban-ubi-arizona-texas-houston-homelessness-poverty-2024-2">Republican opposition</a>.Uplift Harris participants were set to receive their first payments on April 24, but the program is<a target="_blank" href="https://www.businessinsider.com/guaranteed-basic-income-houston-residents-afford-rent-groceries-housing-2024-4"> under a temporary block</a> after a lawsuit filed by state Attorney General Ken Paxton called the program "<a target="_blank" href="https://www.businessinsider.com/texas-paul-bettencourt-guaranteed-basic-income-ubi-uplift-harris-houston-2024-1">unconstitutional</a>." The block will remain while the Texas Supreme Court decides if the program can proceed.South Dakota lawmakers recently introduced a bill to <a target="_blank" href="https://www.businessinsider.com/guaranteed-basic-income-program-ban-south-dakota-affordable-housing-groceries-2024-2">preemptively ban</a> all state and local income programs, which a bill sponsor called a "socialist idea" and "one-way ticket to government dependency." A similar ban has been proposed <a target="_blank" href="https://www.businessinsider.com/iowa-republicans-block-guaranteed-basic-income-socialism-steroids-ubi-poverty-2024-1">in Iowa</a>.<a target="_blank" href="https://www.businessinsider.com/phoenix-arizona-guaranteed-basic-income-program-ubi-republican-ban-2024-2">In Arizona</a>, GOP leaders are trying to pass another statewide ban. The Republican-led state House approved the GBI ban, and it will soon be taken up by the state Senate. Republicans say they are worried income programs will raise taxes and make people overly dependent on government assistance."Is money a birthright now? Do we just get born and get money from the government? Because I think the Founding Fathers would say that is very contrary to our capitalist system and encouraging people to work," John Gillette, a Republican state representative from Arizona, <a target="_blank" href="https://www.businessinsider.com/guaranteed-basic-income-ban-ubi-arizona-texas-houston-homelessness-poverty-2024-2">told Business Insider</a>.Despite legislative resistance, GBI programs continue to be launched in new cities — one focused on new moms in <a target="_blank" href="https://www.pbs.org/newshour/health/a-new-anti-poverty-program-in-flint-michigan-gives-cash-to-new-moms">Flint, Michigan</a> began enrolling participants on January 10. Chicago also announced in April that <a target="_blank" href="https://www.wbez.org/stories/chicago-relaunching-a-guaranteed-basic-income-program/3aea8543-52a6-4ab6-a684-dc2968b42536">it will relaunch</a> its basic income program.Even so, program leaders in San Antonio said GBI cash payments are only a step toward combating poverty.Basic income helped participants in Texas and other states to meet their basic needs, the UpTogether survey report said, but they often can't fix long-term financial challenges. For participants to thrive over time, people also need access to educational opportunities, stable employment, and healthcare.And, as more cities experiment with GBI, Hashash said the programs provide insight into long-term policy. <a target="_blank" href="https://www.businessinsider.com/basic-income-gbi-ubi-low-income-americans-afford-housing-food-2024-5">States like New Mexico and California</a> are already expanding the scope of basic income to the state level. She said flexible funding programs like the <a target="_blank" href="https://www.businessinsider.com/biden-to-sign-19-trillion-american-rescue-plan-on-thursday-2021-3">American Rescue Plan Act</a> have let states continue testing basic income, and the model has "spread like wildfire.""It opened the door for states to be able to demonstrate guaranteed income's effectiveness, and for the federal government to take notice," Hashash said.Have you benefited from a guaranteed basic-income program in San Antonio or elsewhere? Are you willing to share how you're spending your money? Reach out to these reporters at <a target="_blank" href="mailto:allisonkelly@insider.com">allisonkelly@insider.com</a> and <a target="_blank" href="mailto:nsheidlower@insider.com">nsheidlower@insider.com</a>.

San Antonio experimented with giving people $5,108, no strings attached. They spent it on housing and school supplies for their kids. 

<ul class="summary-list"><li>No matter what grade your child is in, the proper school supplies can be hard to find.</li><li>Buying school supplies in bulk can save money and prevent future stressful shopping trips.</li><li>When shopping, check the school list for specific needs and shop with a friend to share costs.</li></ul>No matter how peaceful and organized I try to make mornings, there's a scenario that unfolds about once a week in my home during the school year. My fourth grader will realize — usually moments before the bus comes — that she's lost some critical school supplies like a pencil, notebook, or folder. I go to retrieve the needed item, only to find that my kindergartener has used up every last pencil, folder, or piece of paper in the house. Cue frustration and tears — theirs and mine. That's why, this year, I'm buying school supplies in bulk. "Having a stock of supplies at home can prevent last-minute, stressful shopping trips when something runs out," said Derek Sell, a dad of two and the founder of <a href="https://lifeandmyfinances.com/" target="_blank" rel="noopener">Life and My Finances</a>. "Buying in bulk can be a great way to save money and time. It often results in a lower cost per unit, which can add up to significant savings over time."Here are the items that I'll be buying in bulk to save money, time, and a bit of sanity this school year. <h2>Pens and pencils</h2>When I was growing up, my dad always bemoaned the fact that there was never a writing utensil available when he needed one. Now that I'm the parent, I understand his frustration!Pens and pencils will never go to waste, so they're the perfect item to buy in bulk. Give each child <a href="https://www.insider.com/guides/home/pen-organizer-review">a few pens and pencils</a>, then tuck the rest away safely for when you need them. <h2> Notebooks and paper</h2>My kids use a massive amount of paper and are notorious for leaving their notebooks behind at friends' homes, on the bus, or goodness knows where else. Worse yet, they've learned to sneak <a href="https://www.insider.com/guides/home/useful-desk-accessories">into my office supplies</a> when their own paper runs out. This year, I'm buying spiral notebooks, printer paper, and lined loose-leaf paper that I'll keep out of sight and out of mind until they need it. <h2> Folders</h2>Folders are essential for protecting papers during the back and forth to school. I also use them to keep us organized at home. We use a <a href="https://www.insider.com/guides/parenting/back-to-school-supplies-for-organization">folder for ongoing homework assignments</a>, another for storing art, and another for school notifications. I'll often grab a folder or two to organize work projects. <h2> Erasers and pencil sharpeners</h2>These small items are constantly being lost. My child loves to delay homework to search for a sharpener, so having extra supplies on hand will keep everyone on track. <h2> Hand sanitizer</h2>Even as the pandemic wanes, we're all a bit more germ-conscious these days. I've attached hand sanitizer to my daughter's backpacks. Having extra at home — either as a large refill container or travel-size items — means they'll never run out. <h2> Craft supplies</h2>What parent hasn't had the experience of searching for glue, markers, or poster board for a child's project, only to find out that the glue is gone and the markers have dried out? Stocking up on these items ahead of time can help you avoid a late-night run to the store when a project deadline is looming. <h2> Office essentials</h2>Older students often need the same items you might have in your office: permanent markers, highlighters, Post-it notes, tape, and scissors. Back-to-school season is the perfect time to stock up on these items. Sami Cone, a Nashville mom of two teens, even thinks about the tape and scissors <a href="https://www.insider.com/make-your-holiday-celebrations-eco-friendly-decorations-gift-wrap-2022-11">she'll need for holiday wrapping</a> and factors those into her back-to-school shopping. "It's never cheaper than it is this time of year," she said. <h2>Tips for buying in bulk</h2><ul><li>Check your school-supply list. Some schools ask for specific supplies — and request that you leave others at home. Check your student's supply list to avoid spending money on items they won't use. When in doubt, email the teacher, said Kellie Kopach, a teacher and mom.</li><li>Think about future years, too. Students will need essentials like pencils, pens, and paper each year. Luckily, most school supplies don't expire. "If your student doesn't use all of the bulk quantity of supplies in one school year, odds are, they will need and use the same basic supplies the following school year," Kopach said. </li><li>Have a storage plan. School supplies are generally fairly small so they won't take up much space. Still, <a href="https://www.insider.com/guides/parenting/honey-can-do-organizer-review">it's important to have a storage plan</a>. Cone keeps her bulk school supplies in a plastic tote in her garage. Mine are going on shelves in the laundry room — well out of the reach of little hands.</li><li>Shop with a friend. Join forces with friends, relatives, or neighbors with school-age kids to spread the costs and save even more on bulk school supplies. </li><li>Get kids involved. Sometimes it's easier to shop alone, but getting kids involved "instills the importance of preparedness for the school year and responsibility in general," Kopach said.</li></ul>

7 back-to-school supplies you should be ordering in bulk

<ul class="summary-list"><li>The Biden administration is taking action to keep supply chains strong after their pandemic woes.</li><li>That includes forming a council on supply chain resilience, and pouring money into domestic drug production.</li></ul>During the pandemic, Americans became intimately — and frustratingly — acquainted with <a target="_blank" href="https://www.businessinsider.com/supply-chain-crisis-when-it-will-be-over-end-2021-11">supply chains</a>. All of a sudden, shelves were empty, and consumers were acutely feeling an "<a target="_blank" href="https://www.businessinsider.com/why-store-shelves-are-empty-supply-chain-crisis-shortages-2021-10">everything shortage</a>."And those shortages added to the <a target="_blank" href="https://www.businessinsider.com/inflation-outlook-supply-chain-improving-shipping-rates-inventories-economic-data-2022-6">soaring inflation</a> that has plagued the economy. Now, the Biden administration wants to ensure that all of that won't happen again.To help keep supply chains strong, the White House is <a target="_blank" href="https://www.whitehouse.gov/briefing-room/statements-releases/2023/11/27/fact-sheet-president-biden-announces-new-actions-to-strengthen-americas-supply-chains-lower-costs-for-families-and-secure-key-sectors/">forming</a> a new Council on Supply Chain Resilience and pouring money into alleviating drug shortages. Biden is planning to invoke the Defense Production Act for $35 million in investments towards materials for producing sterile injectable medicines domestically, an action that comes on the heels of <a target="_blank" href="https://www.pbs.org/newshour/show/whats-causing-the-unusually-high-number-of-drug-shortages-in-the-u-s">widespread drug shortages</a>.Antibiotics and vaccinations for COVID-19 and other diseases, "are the kinds of things that we need a supply of here in the United States as well as with the partners and allies we trust," Joelle Gamble, the deputy director of the White House National Economic Council, told Business Insider."The goal of these changes is to make sure that Americans have a reliable and affordable supply of critical drugs, and what we call countermeasures — so things like respirators and vaccines, because those are so important, as we learned during the pandemic, to have readily accessible," Gamble said.Other new supply chain actions include creating a new data-driven Supply Chain Center with the Department of Commerce, which will analyze potential supply chain risks, and $275 million from the Department of Energy in grants towards clean energy supply chains.Supply chain woes have healed and then some since they first took hold of the economy in 2020. The Federal Reserve Bank of New York's <a target="_blank" href="https://www.businessinsider.com/personal-finance/global-supply-chain-pressure-index#supply-chain-pressure-and-inflation">global supply chain pressure index</a>, which evaluates how well the global supply chain is doing compared to its average performance across several metrics showing how efficiently worldwide shipping and logistics are operating, tracked a big spike in supply constraints starting in 2020 and peaking in late 2021. Now, though, the supply chain is performing better than pre-pandemic levels.That's good news for consumers, and for prices. Supply chain woes during the pandemic not only meant that it was frustrating for Americans to get the things they needed, Gamble said, but also <a target="_blank" href="https://www.businessinsider.com/inflation-forecast-cooldown-from-supply-chain-healing-dollar-strength-jpmorgan-outlook-10">contributed to rising prices</a>."A significant share of inflation we saw during the pandemic was due to supply chains essentially being messed up," Gamble said. As supply chains have healed, inflation has also tumbled — although costs remain high on many items, especially as some firms <a target="_blank" href="https://www.businessinsider.com/why-prices-inflation-soaring-corporate-greed-profits-margins-wages-jobs-2023-4">realize that consumers will continue to stomach higher prices</a>.But unsnarling supply chains does help keep prices in check, and it also means that Americans can get the drugs, food, and goods they need or want. While everyone may have become much more familiar with the supply chain during 2020, as they watched their new pandemic sweatpants languish on <a target="_blank" href="https://www.businessinsider.com/pictures-of-record-cargo-ship-port-congestion-off-california-coast-2021-9">bottlenecked boats</a>, the hope is that that's a thing of the past."Honestly, I think if we're successful, Americans won't have to think about supply chains," Gamble said, "because that means that they're more resilient, they're more stable."

The Biden administration wants to make supply chains so strong that you don't have to think about them

<ul class="summary-list"><li>There may be a shortage of hair loss treatment minoxidil, also known as Rogaine, in the US right now.</li><li>Other medications and supplements may be used to prevent hair thinning.</li></ul>The US may be experiencing a shortage of popular hair loss treatment minoxidil, also known as Rogaine, <a target="_blank" href="https://jddonline.com/articles/the-potential-impact-of-off-label-medication-use-on-patient-access-a-cross-sectional-survey-of-minoxidil-availability-S1545961624P8027X/">according to new research</a>.That means people who are dependent on the oral version of the medication might start to lose the hair they've regrown, research author Adam Friedman, professor and chair of dermatology at George Washington University,<a target="_blank" href="https://www.nbcnews.com/health/health-news/minoxidil-shortage-hair-loss-alopecia-rcna122397"> told NBC News</a>.While minoxidil is widely considered to be the <a target="_blank" href="https://www.insider.com/guides/health/treatments/best-hair-growth-products">best product for hair growth</a>, there are other options out there, from prescription medications to essential oils.Trying new alternatives, especially natural products, can involve some trial and error, according to Dr. Brendan Camp, a dermatologist practicing in New York.Still, if you're affected by the Rogaine shortage, it could be worth trying to switch medications or opting for a high-quality supplement instead. Here are five options to try.<h2>Finasteride</h2><div type="image" title="A bottle of Propecia" height="2355" width="3000" msid="105078183" hostid="261" sizebytes="293136"></div>Aside from minoxidil, Camp said that <a target="_blank" href="https://www.insider.com/best-hair-loss-treatment-no-surgery-minoxidil-finasteride-doctors-2023-7#finasteride-2">finasteride</a>, also known by its brand name Propecia, is the other leading prescription medication to treat thinning hair.He noted that it's meant for male patients, as it can cause birth defects in pre-menopausal women.<h2>Rosemary oil</h2><div type="image" title="rosemary oil" height="686" width="1000" msid="105078184" hostid="261" sizebytes="36166"></div><a target="_blank" href="https://www.insider.com/rosemary-oil-for-hair-growth-strength-2023-8">Rosemary oil </a>is immensely popular on social media as a hair growth supplement.A <a target="_blank" href="https://pubmed.ncbi.nlm.nih.gov/25842469/">small 2015 study</a> involving 100 men found it to be effective in stimulating hair growth in the follicle. According to the study, massaging it into the scalp weekly could help regrow hair over 3-6 months.While the study only involved men, some women have also reported successfully <a target="_blank" href="https://www.insider.com/how-rosemary-oil-helped-me-with-hair-loss-2023-9">using rosemary oil to treat hair loss</a>.<h2>Saw palmetto</h2><div type="image" title="Saw palmetto " height="1409" width="2127" msid="105078185" hostid="261" sizebytes="249168"></div>Camp said that <a target="_blank" href="https://www.insider.com/hair-loss-supplements-nutrafol-viviscal-saw-palmetto-biotin-2023-10">saw palmetto</a>, an extract from <a target="_blank" href="https://www.webmd.com/vitamins/ai/ingredientmono-971/saw-palmetto">a tree of the same name</a>, is "thought to block the activity of an enzyme that converts testosterone to DHT, the hormone that causes hair loss."It's considered one of the <a target="_blank" href="https://www.insider.com/guides/health/hair-growth-oils">best oils for treating thinning hair</a>, though more high-quality studies are needed to compare its effectiveness to the leading hair growth medications.Camp cautioned, however, that because supplements and oils are not FDA-regulated, "the purity may vary from product to product."<h2>Spironolactone</h2><div type="image" title="A pill that says &quot;spironolactone&quot;" height="3320" width="5264" msid="105078186" hostid="261" sizebytes="160976"></div>For female patients experiencing hair loss, Camp said that spironolactone — a blood pressure medication commonly prescribed to treat<a target="_blank" href="https://www.insider.com/unexpected-side-effects-of-spironolactone-for-acne-2023-2"> hormonal acne</a> — can also help with thinning hair.Camp said that androgens are hormones that contribute to hair loss. Spironolactone works by interfering with androgen signaling, thereby reducing hair loss.Men can take spironolactone, but may have some undesirable side effects including gynecomastia, or breast tissue growth, and <a target="_blank" href="https://www.webmd.com/erectile-dysfunction/medicine-ed">erectile dysfunction</a>. For this reason, many men don't take spironolactone.<h2>Microneedling</h2><div type="image" title="microneedling .JPG" height="620" width="827" msid="105078187" hostid="261" sizebytes="18184"></div>Some TikTokers <a target="_blank" href="https://www.tiktok.com/discover/microneedling-hair-loss">swear by microneedling,</a> which you can try at home, to prevent hair loss.Camp said that "<a target="_blank" href="https://www.insider.com/how-to-use-derma-rollers-safely-2023-8">at-home microneedling kits</a> may stimulate blood circulation on the scalp," which can improve oxygenation on the scalp skin.It may also protect hair follicles from oxidative stress caused by free radicals, which can damage cells and contribute to premature aging, according to Camp. So microneedling can potentially preserve hair follicles and reduce hair loss.

Minoxidil may be in short supply. Here are 5 other hair loss treatments you can use instead.

<ul class="summary-list"><li>YouTuber Danny Duncan said he traveled from LA to Florida to help those affected by Hurricane Ian. </li><li>Duncan, who is from Englewood, Florida, filmed himself delivering water bottles to local people. </li></ul>YouTuber Danny Duncan traveled from LA to his hometown in Englewood, Florida, to help families affected by Hurricane Ian, according to his latest <a href="https://www.youtube.com/watch?v=BHFcF0zcCgA">video</a>. Duncan, who has 6.8 million YouTube subscribers, said he was in LA, which is roughly <a href="https://www.google.com/search?q=how+far+is+los+angeles+from+englewood+florida&amp;ei=netDY46oL8bBgQbu_KeICA&amp;ved=0ahUKEwjO6uCPstX6AhXGYMAKHW7-CYEQ4dUDCA8&amp;uact=5&amp;oq=how+far+is+los+angeles+from+englewood+florida&amp;gs_lcp=Cgdnd3Mtd2l6EAMyBwgAEB4QogQyBQgAEKIEMgUIABCiBDoKCAAQRxDWBBCwAzoGCAAQBxAeOgYIABAIEB46BQgAEIYDOggIABAIEAcQHjoECCEQCkoECEEYAEoECEYYAFDYF1jTL2C0MGgEcAF4AIABWIgBqgeSAQIxNJgBAKABAcgBAsABAQ&amp;sclient=gws-wiz">2,600 miles</a> from Englewood, when the storm hit. When none of his contacts in Florida were responding to his text messages to say how they were, he, along with a few friends, decided to "book the quickest flight we could," and "do whatever we can to help," he said. Duncan said his flight landed in Atlanta, Georgia, and that he planned to drive "about 10 hours" to reach Englewood, which is roughly <a href="https://www.google.com/search?q=how+far+is+atlanta+georgia+from+englewood+florida&amp;ei=IupDY5nOM6HB8gK3oJygDg&amp;ved=0ahUKEwiZ54jbsNX6AhWhoFwKHTcQB-QQ4dUDCA8&amp;uact=5&amp;oq=how+far+is+atlanta+georgia+from+englewood+florida&amp;gs_lcp=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&amp;sclient=gws-wiz">535 miles</a> from Atlanta. Hurricane Ian, classed a Category 4 storm before it was eventually downgraded to a tropical storm, brought with it winds of 155mph and water up to 12 feet high in some areas of Florida when it first made landfall in the state on September 28, <a href="https://www.insider.com/track-hurricane-ian-live-updates-2022-9">Insider previously reported</a>. <a href="https://eu.usatoday.com/story/news/nation/2022/09/30/englewood-florida-treasure-coast-destruction-post-hurricane-ian/8135284001/">According to USA Today</a>, the storm had devastating effects in low-lying Englewood, with homes flooded and collapsed trees on the streets. <div type="image" title="A screenshot of flooding from Duncan's video." height="1452" width="2854" msid="94766185" hostid="261" sizebytes="216506"></div>Duncan filmed an aerial view of Englewood from inside a helicopter in his video, where roofs and walls appeared to be destroyed and large sections of land were flooded. "I don't know what I can do to help besides put it out to millions of people that could potentially then help. I mean, I feel like I can't really do shit myself but I'm going to try. Obviously, it feels like, overwhelming," Duncan said. The YouTuber and his group of friends then filmed themselves loading a truck with bottles of water and delivering them to families who were clearing away the rubble around their homes. Duncan said he also was planning to deliver a generator to a family who needed it to power a ventilator. "We're actually going to drop the generator off to a veteran who doesn't have power and needs a breathing machine," he said, before the video cut to a clip of him dropping the generator off at a woman's house. "Thank you so much, I cannot thank you enough, that's awesome. He can breathe tonight," the woman said in the video. In the comments section underneath his video, Duncan shared a link to his <a href="https://www.dannyduncan69.com/collections/new-trending/products/i-heart-hot-moms-flame-white-tee">website</a>, where he sells his line of merchandise. Duncan said that "all proceeds" from <a href="https://www.dannyduncan69.com/collections/new-trending/products/i-heart-hot-moms-flame-grey-hoodie">two</a> <a href="https://www.dannyduncan69.com/collections/new-trending/products/i-heart-hot-moms-flame-white-tee">of</a> his products would go toward supporting families in Englewood. Duncan rose to fame on YouTube in 2014 when he began posting skateboarding and sports content. He is most known for his comedic giveaway-style videos where he has surprised friends and family members with <a href="https://www.youtube.com/watch?v=BP4N9yfk2OU">new</a> <a href="https://www.youtube.com/watch?v=U8AoY1YOfkw">cars</a> and <a href="https://www.youtube.com/watch?v=fS6urhWnnoE">houses.</a><a href="https://www.insider.com/culture">For more stories like this, check out coverage from Insider's Digital Culture team here.</a>

A YouTuber filmed himself traveling 2,600 miles to his Florida hometown to deliver essential supplies to families after Hurricane Ian

World Menstrual Hygiene Day: Menstrual supplies are essential items — and not just because of coronavirus

<ul class="summary-list"><li>Olive oil is the latest commodity to see prices spike to record highs. </li><li>The average price in August was 130% higher than a year earlier, surpassing levels not seen since 1996. </li></ul>Olive oil is the latest commodity to see prices jump to new highs thanks to severe weather conditions. <a href="https://apps.fas.usda.gov/psdonline/circulars/oilseeds.pdf" target="_blank" rel="noopener">According to the United States Department of Agriculture</a>, global olive oil prices spiked to $8,900 a ton in September as extremely dry weather in the Mediterranean raised the risk of supply disruptions."The average price in August was 130 percent higher than the year before, with prices quickly surpassing the previous record of $6,242/ton set in 1996 with no sign of easing," the USDA said. "While prices have moderated consumption somewhat, consumer and cultural preferences for olive oil make it difficult to substitute despite plentiful supplies of other vegetable oils," it added. The spike in the price of the beloved cooking oil and salad-dressing essential follows similar cost jumps in several other food commodities - including <a href="https://markets.businessinsider.com/news/commodities/foodflation-cocoa-surges-12-year-high-orange-juice-hit-record-2023-7" target="_blank" rel="noopener">cocoa, orange juice, wheat, and soybeans</a>.The cost surge in these commodities threaten to set back the Federal Reserve's efforts to tame US inflation. The annual pace of consumer-price increases came in at 3.7% in August, well below last year's highs above 9%, after the central bank lifted benchmark interest rates by more than 500 basis points since early 2022. "While the intense price hike in the market will assist in further tempering demand this season, carrying to the next year will be scarce, especially in the EU (the largest olive oil producer, consumer, and exporter). This will keep prices elevated into 2023/24, especially if the next harvest is similarly impacted by poor conditions," the USDA said.

The price of olive oil surges more than 100% to all-time highs as a Mediterranean drought threatens supplies

<ul class="summary-list"><li>Saudi Arabia may wage a "market share war" against the US and flood oil markets with supply, energy expert Paul Sankey said.</li><li>That would mark a reversal from Riyadh's strategy of curbing production to boost oil prices.</li></ul>Saudi Arabia is struggling to boost oil prices with production cuts and may soon make a dramatic reversal aimed at the US, according to energy expert Paul Sankey. In an interview with Business Insider, he said Saudi Arabia may pivot to ramping up production to <a href="https://markets.businessinsider.com/news/commodities/oil-market-opec-us-production-saudi-arabia-supply-flood-2023-12">flush the market</a> with a flood of supply in the first half of 2024. And that's not to target emerging producers like Guyana or Brazil."You've got to attack the guy that's making the marginal decision to drill or not — and that guy is Mr. Permian Basin," Sankey said, referring to the US shale epicenter.He later added, "I think to be specific, it's a market share war."Saudi Arabia is currently producing about 2.5 million barrels a day below maximum capacity. If the country follows through with additional supplies that sink crude prices, the goal would be to essentially "bankrupt" the US industry by making it unprofitable to drill oil, Sankey explained. It's a tactic Riyadh used in 2014 and 2020 to regain control over oil prices.And right now, the set-up is similar to both earlier episodes, the market veteran said. There's a lack of support from the rest of OPEC as countries like the UAE keep producing more oil while Iran is eating into Saudi's share of Chinese crude oil imports. And then there's weakening demand, like what happened during Covid."In all three instances you've had the biggest problem, arguably, which is that the US is just making highs and new highs and even further highs in terms of its own production," Sankey said.US crude <a href="https://markets.businessinsider.com/news/commodities/us-oil-production-record-high-brent-crude-price-wti-geopolitics-2023-10">production has exploded</a> this year and recently hit a record high of 13.2 million barrels a day, according to the Energy Information Administration. Meanwhile, global energy markets have become skeptical that OPEC+ is serious about its latest pledges to curb production. After the cartel's meeting last week, when members vowed to extend cuts, oil prices fell.Its weakening hold over oil markets was on display again this week. On Monday, <a href="https://www.bloomberg.com/news/videos/2023-12-04/opec-cuts-will-be-delivered-saudi-energy-minister-says-video" target="_blank" rel="noopener">the Saudi energy minister told Bloomberg TV</a> that production cuts could go past the first quarter. On Tuesday, the Kremlin also talked tough. But oil prices dropped further.Sankey declined to comment on whether he has heard about plans to increase production from Saudi officials. But the time to act may come soon."I think what will happen is they'll wait through winter to see what's going on and maintain, as they've said, into Q1, their cuts," he said. "And then if things start to weaken from there, they're going to have to decide what they're going to do."

You Searched For "Essential supplies" and got 12 results

Trump's win is already scrambling supply chains

Dominick Reuter

Energy transition: India remains highly dependent on imports of critical minerals, says report

PTI

Budget 2024-25: Govt announces transit-oriented development plan for large cities

PTI

Fervent Bitcoin trading approaches fresh supply crunch; Here’s what this week’s ‘halving’ event implies

Deekshith Pinto

San Antonio experimented with giving people $5,108, no strings attached. They spent it on housing and school supplies for their kids.

Allie Kelly,Noah Sheidlower

7 back-to-school supplies you should be ordering in bulk

Kelly Burch

The Biden administration wants to make supply chains so strong that you don't have to think about them

Juliana Kaplan

Minoxidil may be in short supply. Here are 5 other hair loss treatments you can use instead.

Julia Pugachevsky

A YouTuber filmed himself traveling 2,600 miles to his Florida hometown to deliver essential supplies to families after Hurricane Ian

Charissa Cheong

World Menstrual Hygiene Day: Menstrual supplies are essential items — and not just because of coronavirus

Prerna Sindwani

The price of olive oil surges more than 100% to all-time highs as a Mediterranean drought threatens supplies

Zahra Tayeb

Saudi Arabia may wage oil 'market share war' against the US, reversing output cuts and unleashing a flood of supply, energy expert says

Aruni Soni

Popular Keywords

Buying Guides