economy and economic indicators

Amazon CEO explains thinking behind layoffs as unionized warehouse workers protest outside |  CNN Business

Amazon CEO explains thinking behind layoffs as unionized warehouse workers protest outside | CNN Business

CNN Business — Amazon CEO Andy Jassy said on Wednesday that an “uncertain” economy had prompted the e-commerce giant to press ahead with rare and wide-ranging layoffs after it carried out a major wave of job losses. hiring during much of the pandemic. “We had the target for a very uncertain economic environment, as well …

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There's a big problem with the Kroger-Albertsons supermarket merger |  CNN Business

There’s a big problem with the Kroger-Albertsons supermarket merger | CNN Business

New York CNN Business — When Christine Martinez found out last month that Kroger and Albertsons were planning to merge in a deal worth nearly $25 billion, she thought, “here we go again.” Martinez lost her job as a pharmacy technician following an earlier supermarket mega-merger: Albertsons’ $9 billion combination with Safeway in 2014. That …

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China fuels markets as protests erupt over Covid lockdowns |  CNN Business

China fuels markets as protests erupt over Covid lockdowns | CNN Business

hong kong CNN Business — China’s major stock indexes and its currency opened sharply lower on Monday as widespread protests over the country’s tough Covid-19 restrictions over the weekend rattled investor sentiment. Hong Kong Hang Seng Index (HSI) fell 4.2% in early trading. It has since pared some losses and last traded 2% lower. The …

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West struggles to set oil price cap that hurts Russia |  CNN Business

West struggles to set oil price cap that hurts Russia | CNN Business

London CNN Business — Ukraine’s allies want to put a price cap on Russian oil. But there’s a problem: they can’t agree on a figure that would put pressure on the Kremlin. The biggest Western economies agreed earlier this year to cap the price of Russia’s most valuable export and pledged to work out the …

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The chip war between the United States and China spills over into Europe |  CNN Business

The chip war between the United States and China spills over into Europe | CNN Business

hong kong CNN Business — Two European chip deals have run into trouble over their ties to China, a sign of concern spreading in the West about China’s potential control over critical infrastructure. Last week the new owner of Britain’s biggest chipmaker was ordered to reverse its takeover, just days after another chip factory sale …

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Foxconn offers to pay workers to leave world's largest iPhone factory after violent protests |  CNN Business

Foxconn offers to pay workers to leave world’s largest iPhone factory after violent protests | CNN Business

hong kong CNN Business — Foxconn has offered to pay newly hired workers 10,000 yuan ($1,400) to resign and leave the world’s largest iPhone assembly plant, in a bid to quell protests that have seen hundreds of clashes with security forces in central China compound. The Apple supplier made the offer on Wednesday following dramatic …

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Mortgage rates fall for the second week in a row |  CNN Business

Mortgage rates fall for the second week in a row | CNN Business

Mortgage rates fell again this week, after plunging nearly half a percentage point last week. The 30-year fixed-rate mortgage averaged 6.58% in the week ending Nov. 23, down from 6.61% the previous week, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen for most of 2022, boosted …

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Chicken prices are finally starting to come down.  You can thank busy roosters |  CNN Business

Chicken prices are finally starting to come down. You can thank busy roosters | CNN Business

New York CNN Business — Over the past year, while some meat prices have fallen, chicken prices have remained stubbornly high. High demand, supply issues and even breeding issues with underperforming roosters kept the pressure on. The supply shortage has even prompted some restaurants, like Wingstop, to experiment with less popular items like thighs. But …

Chicken prices are finally starting to come down. You can thank busy roosters | CNN Business Read More »

Everyone from the veterinarian to the hairdresser is raising prices.  And there's no relief in sight |  CNN Business

Everyone from the veterinarian to the hairdresser is raising prices. And there’s no relief in sight | CNN Business

Minneapolis CNN Business — When Teri Byrd opened her 4 Paws veterinary clinic in Vashon, Washington four years ago, her goal was to grow the business. And she succeeded – at first. But Covid has disrupted his business as it has for many others. After the first pandemic closures, his business was helped by federal …

Everyone from the veterinarian to the hairdresser is raising prices. And there’s no relief in sight | CNN Business Read More »