Economy

Inflation slows and markets soar, driven by tech stocks: How we make sense of this big week

Inflation slows and markets soar, driven by tech stocks: How we make sense of this big week

Markets closed higher for the week after a stellar rally on Thursday that saw big tech stocks soar amid weaker-than-expected consumer price index (CPI) data for October. The S&P 500 closed more than 5% higher for the week, its best week since June. Bond yields and the U.S. dollar fell as investors hoped CPI news …

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This midterm election result is 'generally good for the markets': what investors can expect

This midterm election result is ‘generally good for the markets’: what investors can expect

Election workers open ballots at the Maricopa County Tabulation and Election Center in Phoenix on November 11, 2022. Justin Sullivan | Getty Images It may take until December to find out which political parties control both houses of Congress after Tuesday’s midterm elections. But that doesn’t mean your personal investment strategy should also stay up …

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Exclusive: Tesla plans to export Chinese-made electric vehicles to US sources

Exclusive: Tesla plans to export Chinese-made electric vehicles to US sources

SHANGHAI, Nov 11 (Reuters) – Tesla (TSLA.O) is considering exporting Chinese-made electric cars to the United States, two people with knowledge of the planning told Reuters, a reversal that would reflect the growing cost advantage automaker at its Shanghai plant and slowing demand from Chinese consumers. Tesla has been investigating whether parts made by its …

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Billionaire Who Tried to Buy Congressional Seat in Oregon Goes Bankrupt as His Crypto Companies Crash

Billionaire Who Tried to Buy Congressional Seat in Oregon Goes Bankrupt as His Crypto Companies Crash

Six months ago, billionaire Sam Bankman-Fried spent millions to install his favorite candidate in the new seat of the US Congress in Oregon. Now the crypto companies that made him rich are bankrupt. Bankman-Fried, a resident of the Bahamas, upended the political order in Oregon last spring by spending $11.4 million to support political newcomer …

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You've been fired - now what?  Here are 3 steps to follow if you lose your job

You’ve been fired – now what? Here are 3 steps to follow if you lose your job

Srdjanpav | E+ | Getty Images The layoffs at tech giants Twitter and Meta this week affected thousands of people – and they’re just the latest examples of a downsizing trend that was already happening in the industry. The news has shed light on employee rights in mass termination situations. Although downsizing laws vary by …

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Big tech is bleeding thousands of jobs - but here's why the economy will 'very easily absorb' layoffs and mark a 'turning point' in the sector

Big tech is bleeding thousands of jobs – but here’s why the economy will ‘very easily absorb’ layoffs and mark a ‘turning point’ in the sector

Big tech is bleeding thousands of jobs – but here’s why the economy will ‘very easily absorb’ layoffs and mark a ‘turning point’ in the sector Meta is laying off 13% of its staff, joining other tech giants that have cut staff or suspended hiring amid weak growth this year. But while news of massive …

Big tech is bleeding thousands of jobs – but here’s why the economy will ‘very easily absorb’ layoffs and mark a ‘turning point’ in the sector Read More »

What's Next For Crypto As FTX Collapse Triggers 'Lehman Moment'?  |  CNN Business

What’s Next For Crypto As FTX Collapse Triggers ‘Lehman Moment’? | CNN Business

London CNN Business — The Staggering Fall of FTX Exchange, One of the Biggest and Most Reputable Players in the Digital Asset Market, Raises Alarm among people who own cryptocurrencies as investors run for cover. There are still many unanswered questions. But two big issues loom: how far will the damage extend? And can the …

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No easy fix for China as economy slows more than expected

No easy fix for China as economy slows more than expected

‘How America Works’ host Mike Rowe reacts to Biden by saying he will shut down America’s coal plants in favor of solar and wind systems on ‘Varney & Co.’ A series of surprisingly weak Chinese economic data this month prompted policymakers to deliver more stimulus, but it also shows the limited effect more monetary easing …

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