The Euro and the U.S. Dollar reached parity for the first time in 20 years, brought on by economic pressures rooted in fears of a recession and the energy crisis linked to the war in Ukraine. Doubts have risen around the European Central Bank’s ability to take aggressive enough action to check inflation without plunging the bloc deeper into economic turmoil. While the news focused attention on the central bank’s ability to face a weakened currency, European consumers are likely to experience higher costs for imported goods while American travelers may seize the opportunity to vacation in Europe at a lower price. Conversely, the strong dollar may help contain prices for expensive commodities and ease inflationary pressure in the U.S. later in the year.

The U.S. Food and Drug Administration is set to authorize the Novavax coronavirus vaccine, opening the door to a shot using the protein-based method typical of some traditional vaccines. The news follows the Biden administration’s announcement that it will purchase 3.2 billion doses of the vaccine in line with the president’s renewed approach to tackling COVID-19 through increased booster access and extensions of public health emergency measures. The vaccine’s trials have shown its efficacy as a booster and the company hopes Americans initially hesitant to get vaccinated will take its shot.

A new survey found that an estimated 20 million Americans expressed regret over quitting their jobs within the first five months of the year. The number of Americans who quit their job this year is roughly double that of a decade ago, and while the reasons for regretting the decision to quit varied, roughly half of those looking for jobs said they expect labor market conditions to worsen. The survey also noted that roughly 40% of employed job seekers received pay raises this year, but inflation has largely dulled the effect of those increases.

Files leaked by former Uber lobbyist Mark MacGann disclosed a web of alleged steps the rideshare company took to aggressively expand around the world. The leak revealed that Uber used technology to evade law enforcement, drew attention to the “silver linings” of violence between drivers and taxicab operators and sought out favors from government officials. French President Emmanuel Macron was highlighted as a “true ally” of the company with the leaks potentially leading to the president being subjected to a parliamentary inquiry. MacGann argued his intention behind the leak was to “make amends,” and said he hopes Uber will treat its drivers better as the company has recently challenged court rulings in favor of worker’s rights.

A new survey from the National Federation of Independent Business revealed that U.S. small business confidence dropped to its lowest point in over nine years, due mostly to concerns over inflation and hiring as business owners’ expectations have declined every month since the start of the year. Notably, survey respondents overwhelmingly reported that few or no qualified applicants applied for the position owners sought to fill. Despite the historic low confidence measures, the report included some positive news as hiring efforts have continued, a sign that customer demand is still strong, and the amount of owners raising average selling prices has decreased.

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