Walmart, JPMorgan, GM CEOs talk about possible slowdown

General Motors CEO Mary Barra speaks during a visit by the US President to the General Motors Factory ZERO electric vehicle assembly plant in Detroit, Michigan on Nov. 17, 2021. Mandel Ngan | AFP | Getty Images As 2023 approaches and the prospect of a recession looms, corporate America is preparing for a slowdown in … Read more

The Fed’s path to a “Goldilocks” economy has only gotten more complicated

On December 2, 2022 in New York City, a “help wanted” sign hangs in a window of a Manhattan store. Spencer Plat | Getty Images As for the jobs reports, November was not exactly what the Federal Reserve was looking for. A higher-than-expected payroll and a high wage reading that was twice what Wall Street … Read more

5 things you need to know before the stock market opens on Friday, December 2

A GE AC4400CW diesel-electric locomotive in Union Pacific livery, is seen ahead of a potential strike if a deal is not reached with railroad workers unions, as a Metrolink commuter train (right) arrives at Union Station in Los Angeles, California, September 15, 2022. Bing Guan | Reuters Here are the most important news items investors … Read more

Review of cost savings reveals economic uncertainty

Andrew Ross Sorkin speaks with Amazon CEO Andy Jassy at the New York Times DealBook Summit in the Appel Room at the Jazz At Lincoln Center on November 30, 2022 in New York City. Michael M. Santiago | Getty Images Amazon CEO Andy Jassy is engrossed in a major overhaul of the company’s spending marked … Read more

Fed Chair Jerome Powell says smaller rate hikes could come in December

WASHINGTON — Federal Reserve Chairman Jerome Powell confirmed Wednesday that smaller rate hikes are likely ahead, even as he sees progress in the fight against inflation as largely inadequate. Echoing recent statements by other central bank officials and comments at the Fed’s November meeting, Powell said he sees the central bank in a position to … Read more

Dow loses 200 points as investors process mixed economic signals awaiting Powell’s speech

The Dow Jones Industrial Average fell Wednesday as Wall Street waded through new economic data and awaited an afternoon speech on the economy from Federal Reserve Chairman Jerome Powell. The 30-stock index lost 253 points, or 0.8%. The S&P 500 lost 0.4%, while the Nasdaq Composite was nearly flat. Investors were hit by conflicting economic … Read more

Private hiring rose just 127,000 jobs in November, well below estimate, ADP reports

Private hiring slowed sharply in November, signaling that the historically tight labor market may be losing some momentum, according to a report Wednesday from payroll processing company ADP. Companies added just 127,000 holdings this month, a sharp drop from the 239,000 the company reported for October and well below the Dow Jones estimate of 190,000. … Read more

Ukrainians suffer in cold, darkness as the president begs the UN to punish Russia

Most power restored to the capital after the worst power cuts to date US: Russia tries to freeze Ukraine into submission Kiev aims to restore nuclear power plants by the end of Thursday “We are an unbreakable people,” said President Zelensky KYIV, Nov 24 (Reuters) – Ukrainian President Volodymyr Zelenskiy demanded that the United Nations … Read more

The Mississippi-based furniture company is laying off 2,700 workers

TUPELO, Miss — A Mississippi-based company that had become one of the nation’s largest furniture companies has laid off nearly all of its workforce. About 2,700 workers, most of whom live in northeastern Mississippi, lost their jobs Monday, according to the Northeast Mississippi Daily Journal. Just days before the Thanksgiving holiday, United Furniture Industries sent … Read more

Ukrainians brace for a harsh winter as Russian attacks cripple power capacity

Ukrainians are bracing for winter with little or no heating Temperatures in several areas already below freezing Kherson residents may express interest in moving elsewhere Ukraine’s security services raid the famous Kiev monastery KYIV, Nov. 22 (Reuters) – President Volodymyr Zelenskiy appealed to Ukrainians to conserve energy amid brutal Russian attacks that have already halved … Read more