Today, the Federal Open Markets Committee (FOMC), the Federal Reserve body which determines interest rates, announced a 75 basis points interest rate hike, the sixth increase in eight months, despite warnings from economic experts that doing so would cause a recession and cost as many as 3.2 million people their jobs by the end of 2023.
As a major merger deal between grocery giants Kroger and Albertsons faces scrutiny from a key U.S. Senate subcommittee, government watchdog Accountable.US released a new analysis challenging claims from the companies that the merger will lead to lower costs.
Today the New York Times spotlighted yet more data showing price hikes on working families by big food companies and restaurants have been motivated by corporate greed and not to keep up with the cost of doing business, based on their own earnings reports.
Today, three of the nation's largest oil companies, Marathon Petroleum, BP America and Phillips 66, reported their latest quarterly profits, together bringing in a jaw-dropping $14 billion this quarter, totaling over $30 billion in profit this year as they continue to price gouge consumers.
Today, Accountable.US released the following analysis in response to President Biden's latest call to Congress to consider a windfall profits tax on the largest oil and gas companies if they fail to ramp up production.
Today, two of the nation's largest oil companies, Exxon and Chevron, reported their latest quarterly profits, together bringing in an eye-popping $31 billion this quarter, racking up nearly $73 billion in profit this year as they continue to price gouge consumers.
A new analysis from watchdog Accountable.US found that five publicly-traded companies have already announced nearly $1.5 billion in accelerated share repurchase (ASR) programs —potentially avoiding the roughly $15 million they would owe under the Inflation Reduction Act’s new 1% stock buyback tax—after spending $2.5 billion on buybacks.
The Labor Department’s latest Consumer Price Index (CPI) report makes clear that corporate greed remains a primary driver of inflation.
Today, Accountable.US released a new analysis unpacking Big Oil’s continued price gouging even after crude oil dropped below $80. Despite the price of crude oil plummeting to its lowest price since January, Big Oil companies keep gas prices artificially high for consumers charging them 13% more than when oil was previously this cheap.
A new analysis from Accountable.US has found that in the first half of 2022, just three of these “megabanks”—Bank of America, Wells Fargo, and JPMorgan Chase—have together reported over $37 billion in net income while reaping $7.8 billion in revenue from service charges on consumers’ deposit accounts, including over $1.6 billion from overdraft fees
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