Portugal became the latest country to formally position itself as a haven for remote workers, introducing a “digital nomad” visa that will become available at the end of the month. Portugal’s tourism numbers have increased since 2020 but still remain low compared to pre-pandemic levels. Croatia, Iceland and Greece are among those already offering this style of visa in Europe and some countries in Southeast Asia have also launched similar incentives. The offers come as more U.S. companies push employees back into the office despite resistance from workers. The New Zealand government confirmed p ..read more

The majority of CEOs are preparing for a recession according to a new survey with 91% of CEOs reporting they think a recession will happen in the next year. While most CEOs reported optimism in their companies’ ability to handle the economic downturn, a number of businesses announced layoffs and rollbacks of ESG programs to soften expected financial losses. KPMG CEO Paul Knopp noted a recession will not hit all industries evenly, with companies in the tech and mortgage industries likely to suffer the most. The report warned that companies attempting to recover from the COVID-19 pandemic also r ..read more

The number of Americans seeking unemployment dropped to a five-month low despite the Federal Reserve’s efforts to cool the U.S. job market. The dip marked the first time claims fell below 200,000 since May. With unemployment rates dropping, analysts predicted the Fed will not slow down the pace of its rate hikes with some saying the central bank will continue its policies “until something breaks.” Economists noted that the drop could be linked to employers “hoarding” labor after struggling to hire in the fallout of the COVID-19 pandemic. Toyota Motor Corp. reinforced its dedication to its elec ..read more

Lumber prices fell to their lowest level in more than two years, pointing to an anticipated downturn in construction as two-by-fours return to prices last seen before the pandemic. Wood prices exploded in the summer of 2020 as home sales and remodels surged, but have since declined by more than 70% from their peak. The shift to working from home drove more than 60% of the increase in house and rent prices during the pandemic, according to new research from the Federal Reserve. The increase in prices is likely to stick even as more corporations issue return-to-office mandates. More brands are t ..read more

U.S. manufacturing is experiencing a major rebound following a shift away from services during the pandemic and a robust federal stimulus, which funneled resources back into domestic production. The rebound echoes the stretch of automation seen in the 1970s but across a different cross-section of the U.S., with factories for pharmaceuticals, craft beer and ice cream sprouting up in the Mountain West. While manufacturing jobs rebounded, other sectors such as small businesses continue to struggle to find talent. Far-right leader Giorgia Meloni is poised to become Italy’s first female prime minis ..read more

A federal appeals court granted a request from the U.S. Justice Department to allow its investigators to use roughly 100 documents with classified markings seized from former President Donald Trump’s Mar-a-Lago home in its ongoing criminal investigation and national security review. New York’s attorney general filed a lawsuit accusing Trump, his business and three of his children of lying to lenders and insurers by fraudulently overvaluing his assets by billions of dollars. As Trump weighs the possibility of reelection, a new poll indicates more than 6 in 10 Americans do not want him to run in ..read more

Two more pharmaceutical companies are facing a shortage of generic extended-release Adderall widely used to treat attention-deficit hyperactivity disorder. Lannett Co. and Par Pharmaceuticals warned of the limited supply just weeks after CVS and Walgreens told patients they might have to wait more than a week to get their medication which is supposed to be taken every day. Recent reports suggest the number of Adderall prescriptions rose from 3 million a month in September 2019 to 3.5 million in December 2020. Epinephrine, used in emergencies to treat severe allergic reactions, and methyldopa ..read more

Democrats remain unexpectedly competitive in the battle for Congress ahead of November’s midterm election, a new poll found. Overall, 46% of registered voters say they back the Democratic candidate for Congress, compared with 44% for Republicans. Democratic strength has been bolstered by President Joe Biden’s success at breaking through legislative gridlock in Washington. Biden’s approval rating jumped 9 percentage points in another poll released Thursday, pushing his approval rating to now sit at 45%. Voters’ renewed affinity for Democrats is being driven by the passage of the Inflation Reduc ..read more

Scientists formed a coalition to study the roots of long COVID with the goal of hastening research on the condition and moving quickly to begin clinical trials for potential treatments. The $15 million project, funded by scientific investment fund Balvi, has the ultimate goal of discovering a treatment for the condition, which affects roughly one in five American adults who had COVID according to the CDC. Many are unable to work as a result. Some experts expressed hope that such studies could provide insight into post-viral illnesses more broadly. Apple CEO Tim Cook confirmed iPhones will not ..read more

U.S. health officials plan to recommend that people get COVID-19 boosters once a year in a cadence similar to annual flu shots. The announcement marks a shift from their current practice of issuing new advice every several months. The Department of Health and Human Services hosted a stakeholder meeting last week on the commercialization process for vaccines as the U.S. government transitions away from the current federally-managed COVID-19 system. Coronavirus scenarios from multiple research teams foresee stable or declining hospitalizations in early fall with the possibility of a late-fall su ..read more