UK rail strike brings nation’s commuters to a standstill - June 21, 2022

Large infrastructure projects in the U.S. have run into delays linked to labor shortages within the construction industry, complicating the path forward for some projects. Experts said cost increases associated with labor shortages may extend the timeline for a number of projects, adding to the list of woes for construction companies already grappling with increased material costs with inflation increasing the costs for some projects by as much as 69%. Analysts warned that high labor costs could lead to a loss in value for the Biden administration’s infrastructure plan, which has promised to address challenges ranging from mass transit to climate change and broadband access. Google warned small businesses that utilizing its G Suite services they will need to start paying after years of free use, prompting some business owners to feel the tech giant has “strong-armed” them. Google, who later backed off of threats to force private users to pay for the services, said it will suspend business accounts that do not start paying by Aug. 1. Some small business owners, already struggling with a tightening labor market, said the cost is less of an issue than the way the company has approached the change which has been characterized as “ham-handed.” Investment Bank Nomura predicted the Federal Reserve’s interest rate hikes will cause an economic recession as the central bank said it plans to raise interest rates into 2023. The investment bank lowered its GDP forecast for 2022 to 1.8% from its earlier 2.5% projection, while Bank of America global strategists said the odds of a downturn in 2023 are now at 40%. Despite financial institutions’ and economists’ forecasts, some experts have argued the likelihood of a global recession is low and can be avoided with solutions such as an increased labor pool. Thousands of UK rail workers entered into the first day of a strike after Prime Minister Boris Johnson rejected workers’ pay demands. The strike comes as a last resort after union and train companies failed to agree on pay in