Economy

The Dollar Won’t Be Weakening. Why That Spells More Pain for Companies.

The Dollar Won’t Be Weakening. Why That Spells More Pain for Companies.

Investors need only take a vacation this summer to understand the market exuberance back home. In Europe, there is drought, wildfires and the cost of energy has soared. In China, residents and tourists are being caught up in shutdowns from a zero-tolerance policy toward fresh Covid-19 outbreaks. The knock-on effect is stark. China’s economy is …

The Dollar Won’t Be Weakening. Why That Spells More Pain for Companies. Read More »

97% of corporate execs think US economy is in recession or headed for one, survey shows

97% of corporate execs think US economy is in recession or headed for one, survey shows

National Association of Home Builders CEO Jerry Howard pointed to the NAHB/Wells Fargo Housing Market Index declining for eight consecutive months, as well as the fact that it reached below the ‘neutral’ level, as indicating sentiment is ‘sinking.’ The vast majority of corporate executives are bracing for a recession — or think the US economy …

97% of corporate execs think US economy is in recession or headed for one, survey shows Read More »

Starbucks ordered to reinstate US workers fired amid union campaign | Starbucks

A US judge has ordered Starbucks to reinstate seven employees at a cafe in Memphis, Tennessee who were allegedly fired for supporting a union campaign, as the coffee chain struggles to halt pending nationwide union elections. Sheryl Lipman, the district judge in the city, said the US National Labor Relations Board had provided enough evidence …

Starbucks ordered to reinstate US workers fired amid union campaign | Starbucks Read More »

The remote work revolution already is reshaping America

The remote work revolution already is reshaping America

Updated August 19, 2022 at 12:38 pm EDT|Published August 19, 2022 at 6:00 am EDT Residents of the 100 Van Ness apartments in San Francisco work in the common space of the building, the largest office-to-housing conversion in the city. Office building vacancies have increased as more companies allow their employees to work from home …

The remote work revolution already is reshaping America Read More »

Macron calls Putin over fears Russia is weaponising captured nuclear plant | Ukraine

France’s president, Emmanuel Macron, has said Russia may plan to decouple the Zaporizhzhia nuclear plant from the Ukrainian power grid, backing up warnings from the Ukraine’s own nuclear power firm. Macron spoke to the Russian president, Vladimir Putin, on Friday, and said the call was necessary because of the urgent nuclear threat to Europe. Putin …

Macron calls Putin over fears Russia is weaponising captured nuclear plant | Ukraine Read More »

Higher-income earners visit food banks and shop at Walmart as food inflation rises

Higher-income earners visit food banks and shop at Walmart as food inflation rises

Missouri Rep. Jason Smith speaks on how he believes everyday Americans view the Inflation Reduction Act on ‘The Evening Edit.’ Historically high inflation continues to affect Americans of all backgrounds including high-income individuals and families who have been driven to Walmart, food banks, and thrift stores as a result of the skyrocketing cost of groceries …

Higher-income earners visit food banks and shop at Walmart as food inflation rises Read More »

Jobless claims drop slightly, with 250,000 Americans filing for unemployment benefits

Half of US companies preparing to cut jobs, survey shows

Mainstay Capital Management founder and CEO David Kudla discusses his expectations for the July employment report and weighs in on markets on ‘Mornings with Maria.’ Companies across the country are planning to scale back their headcounts after a year of frenzied hiring. That’s according to a new survey published on Thursday by consultant PwC, which …

Half of US companies preparing to cut jobs, survey shows Read More »

FedEx Ground contractors demand inflation help to prevent delivery collapse: ‘Enormous financial stress’

FedEx Ground contractors demand inflation help to prevent delivery collapse: ‘Enormous financial stress’

Route Consultant founder and president Spencer Patton explains how FedEx Ground’s delivery network is at risk of collapse due to inflationary pressures. As FedEx Ground delivery drivers pay the price for soaring inflation and high diesel fuel prices, FedEx’s largest contractor sounded the alarm that at least one-third of the route system is on the …

FedEx Ground contractors demand inflation help to prevent delivery collapse: ‘Enormous financial stress’ Read More »

Hiltzik: The flaws in Medicare drug price negotiation

Hiltzik: The flaws in Medicare drug price negotiation

Among the healthcare provisions of the Inflation Reduction Act just signed by President Biden, one shiny object stands out. It’s the provision allowing Medicare to negotiate pharmaceutical prices directly with drug companies for the first time. Journalists and some consumer advocates are over the moon about this provision, which has been on Democratic policymakers’ wish …

Hiltzik: The flaws in Medicare drug price negotiation Read More »