Wall Street’s main indexes opened lower on Friday as investor sentiment remained damp due to the hawkish interest-rate outlook by Federal Reserve Chair Jerome Powell in his two-day congressional testimony. The Dow Jones Industrial Average fell 111.05 points, or 0.33 percent, at the open to 33,835.66. The S&P 500 opened lower by 27.72 points, or…
American Tech Sector Continues to Bleed as Layoffs Jump 200 Percent in May
June 23, 2023
admin
AmazonBusiness & MarketsCompanieseconomyFacebooklayoff workersMarketsmetaTechTech Newstech sectorUSUS News
0 Comment
The technology sector in the United States continued to lay off more workers in May, with job cuts nearly tripling from April, according to latest data. In May, the tech sector laid off 19,072 employees, which is an almost 200 percent jump from the 6,469 layoffs announced in April, technology magazine IEEE Spectrum reported, based…
Food and Beverage Sector Faces Highest Risks of Insolvency: Warns CreditWatch
June 23, 2023
admin
AustraliaAustralia cost of living crisisAustralian food industryBusiness & MarketsCompanieseconomyinflationinsolvencyrecessionskill shortageWorld
0 Comment
One of Australia’s top commercial credit reporting bureaus warns that the country’s food and beverage sector is set to see more businesses fail in the new financial year as households tighten their budgets and operating expenses stay high amid mounting cost of living pressures. CreditorWatch’s latest business risk index points to grim business conditions, with…
Euro Slides on Weak Business Data; Hawkish Central Banks Boost Dollar
SINGAPORE—The euro fell after the bloc’s business growth virtually stalled this month, as the dollar drew support from a bout of risk aversion on Friday and hawkish comments from global central banks, including the Federal Reserve. The dollar index, which measures the currency against six others, was up 0.56 percent at 102.95, reversing three straight…
Oil Resumes Slide on Demand Worries After Latest Rate Hikes
June 23, 2023
admin
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
0 Comment
LONDON—Oil dropped for a second day on Friday and was heading for a weekly decline, as a UK interest rate hike added to concern over economic growth that outweighed lower U.S. crude stocks and other signs of tighter supplies. Both crude benchmarks had dropped about $3 on Thursday after the Bank of England raised interest…
Stock Market Today: Asian Shares Sink as Central Banks Crank Interest Rates Still Higher
June 23, 2023
admin
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
0 Comment
BANGKOK—Asian shares sank sharply Friday after several central banks around the world cranked interest rates higher in their fight against inflation. Hong Kong and Tokyo shed nearly 2 percent and most other regional markets declined. U.S. futures and oil prices also were lower. Japan reported its inflation rate was higher than expected, adding to expectations…
Australian Government to Reveal Reserve Bank Governor’s Position in July
The Australian government will announce the position of the Reserve Bank governor within weeks, which may bring a fresh pair of eyes to the monetary authorities’ struggle against inflation. This comes as the incumbent governor Philip Lowe will finish his seven-year term in September. Despite helping the Australian economy navigate the COVID-19 pandemic, Lowe has…
Fed’s Powell Warns US Budget on ‘Unsustainable Path’ in Senate Testimony
The U.S. budget is on an unsustainable path, and it is crucial for policymakers to deal with it sooner rather than later, Federal Reserve Chair Jerome Powell told Senate lawmakers. Powell appeared before the Senate Banking Committee for his semi-annual monetary policy report, and several Republican senators pressed the Fed Chair on the federal budget…
Fed’s Powell Warns US Budget on ‘Unsustainable Path’
The U.S. budget is on an unsustainable path, and it is crucial for policymakers to deal with it sooner rather than later, Federal Reserve Chair Jerome Powell told Senate lawmakers. Powell appeared before the Senate Banking Committee for his semi-annual monetary policy report, and several Republican senators pressed the Fed Chair on the federal budget…
Weekly US Applications for Unemployment Aid Remain Relatively Elevated
The number of Americans applying for unemployment benefits remained relatively elevated last week, potentially another signal that Federal Reserve rate hikes are beginning to cool a surprisingly resilient labor market. U.S. applications for jobless claims were 264,000 for the week ending June 17, the same as the previous week’s revised number, the Labor Department reported…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`