Economy

Layoffs: Companies copy others 'in almost blind imitation', says professor

Layoffs: Companies copy others ‘in almost blind imitation’, says professor

Evercore ISI Managing Director Mark Mahaney reveals which stocks could outperform if the US economy is hit by a recession on “Varney & Co.” The number of companies implementing layoffs is growing, with most citing tough economic conditions and recession fears as the driver. Even with high borrowing rates and persistent inflation, Jeffrey Pfeffer, a …

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Republican Congressman Madison Cawthorn waves to supporters during her Primary Election Day watch party in Hendersonville on May 17, 2022.

Rep. Madison Cawthorn fined for improperly promoting cryptocurrency

ASHEVILLE, NC — Rep. Madison Cawthorn violated congressional ethics rules by improperly promoting a cryptocurrency in which he had a financial interest, according to a report released Dec. 6. The House Ethics Committee, following a seven-month investigation, found that the Western North Carolina congressman “improperly promoted a cryptocurrency in which he had an interest financial …

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US proposes green steel club that would levy tariffs on outliers

US proposes green steel club that would levy tariffs on outliers

WASHINGTON — The Biden administration on Wednesday sent a proposal to the European Union suggesting the creation of an international consortium that would promote trade in metals produced with lower carbon emissions, while imposing tariffs on steel and aluminum from China and elsewhere, according to a copy viewed by The New York Times. The document, …

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City faces another post-Brexit blow as EU moves to restrict some trade

The City of London is facing another blow to its post-Brexit dominance after the EU moved to require businesses to settle more transactions reducing financial risk within the bloc. The plan focuses on transactions in securities called derivatives and on financial market clearing houses, the intermediaries that enable the transfer of funds to sellers and …

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Economist: No recession in 2022, nor in 2023 |  WRAL Tech Wire

Economist: No recession in 2022, nor in 2023 | WRAL Tech Wire

CHARLOTTE- No recession happened in 2022, despite many predictions that the economy would fall into an economic recession – and the same could happen in 2023. That’s according to an economist at the University of North Carolina at Charlotte who spoke about the economic environment in the United States and North Carolina during the North …

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Top Wall Street CEOs amplify recession warnings as bets on dismal 2023 swell

Bank of America CEO Brian Moynihan discusses the pace of the economy as the Fed battles to rein in inflation on “Cavuto: Coast to Coast.” A chorus of Wall Street CEOs is sounding the alarm about the state of the US economy rose stronger this week as leaders stepped up warnings of a possible recession …

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Can you still retire with $1 million?  That's what today's millionaires want to know.

Can you still retire with $1 million? That’s what today’s millionaires want to know.

OK, so a million dollars isn’t what it used to be. That’s the worry of a surprising number of American millionaires. At least that’s what fund management giant Natixis, which owns bond boutique Loomis Sayles, among other companies, reports. Natixis surveyed around 1,600 people with at least $1 million in “investable assets”. And just over …

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Economists: A housing recession in the United States has already arrived

Economists: A housing recession in the United States has already arrived

It’s been a year of watershed moments in real estate, and not a good one. The housing market index, a closely watched industry measure that gauges the outlook for home sales, fell to 33 in November on a hundred-point scale, its lowest level in a decade, except of the first dystopian month of the pandemic. …

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Reaction to China's easing of COVID restrictions in major policy shift

Reaction to China’s easing of COVID restrictions in major policy shift

Dec 7 (Reuters) – China on Wednesday announced the most sweeping changes to its strict zero COVID policy since the pandemic began three years ago, easing rules that had curbed the spread of the virus but had hobbled the world’s second-largest economy worldwide and sparked protests. The easing of rules, which include allowing infected people …

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Fed Chairman Powell has a problem communicating with the market

Fed Chairman Powell has a problem communicating with the market

No matter what Federal Reserve Chairman Jerome Powell says to market participants these days, it seems they only hear the good stuff. Two recent examples: first in July, when Powell hinted that smaller interest rate hikes might be on the way. The second was last week, when the central bank leader appeared to confirm that …

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