The latest report from the Bureau of Economic Analysis, released on Wednesday (Nov. 29), noted the U.S. economy grew 5.2% annualized, as measured in the third quarter. That’s up from 4.9% previously estimated last month. Inflation is slowing, per the data: The quarterly metric that...
The founder of online luxury fashion retailer Farfetch, José Neves, reportedly aims to take the company private. Neves, who has a 15% stake and 77% of the voting rights, is working with advisors at JPMorgan on the potential move, Reuters reported Tuesday (Nov. 28), citing a paywalled article by the Telegraph. ...
President Joe Biden has warned corporations to bring down what he says are inflated prices. “Any corporation that has not brought their prices back down, even as inflation has come down, even as the supply chains have been rebuilt, it’s time to stop the price gouging,” Biden...
Perception is reality, goes the old saying. And the perception right now is that inflation is a staple of everyday life, that no one should trust a lull, and that economic conditions are challenging. As measured by the University of Michigan, sentiment among U.S. consumers...
Initial U.S. unemployment claims last week saw the largest drop since June. That’s according to figures released Wednesday (Nov. 22) by the Labor Department, showing initial claims for the week ending Nov. 18 falling 24,000 to 209,000. Meanwhile, continuing claims, typically seen as a signifier for the number...
The holidays are upon us. The credit card debt has been racked up. The broad deluge of earnings reports has slowed to a trickle. The data and commentary show that U.S. consumers are feeling stretched and pinched into the last few weeks of the year...
The “durable” job market economists had been touting all year now seems a bit softer. New employment figures from the U.S. Labor Department released Thursday (Nov. 16) showed continuing applications for unemployment benefits rose to their highest level in nearly two years. Recurring jobless claims reached 1.87...
The head of America’s biggest bank says it’s too soon to declare victory against inflation. “I’m afraid inflation might not go away that quickly,” JPMorgan Chase CEO Jamie Dimon told Bloomberg TV on Tuesday (Nov. 14). He said the Federal Reserve was correct in its temporary pause on interest rate increases...
High interest rates are leading smaller businesses to lower their expectations. As the Wall Street Journal (WSJ) noted in a report Tuesday (Nov. 14), some business owners are holding off on expansions and equipment purchases, putting off hiring and accelerating their efforts to collect payments as interest...
