As the world’s attention shifts heavily to Beijing’s role in the world in the aftermath of the shootdown of its spy balloon over U.S. territory on Feb. 4, a special hearing of the House Financial Services Committee will address subversion and aggression emanating from communist-ruled China and consider legislative proposals to counter these threats. A…
House Financial Services Committee to Hold Hearing on Chinese Regime’s Economic and Geopolitical Threat
February 7, 2023
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Tech Layoffs Reflect Growing Frustration With Social Media, Industry Analysts Say
News Analysis The massive layoffs that have rocked the tech sector in recent days have become the subject of widespread speculation in the mainstream media, with some industry and media sources attributing the firings and announced staff cuts to adverse economic factors, such as inflation and interest rate hikes. But the real reasons go much…
Southwest Airlines Discloses Impact of Late 2022 Meltdown, Outlook for 2023
Southwest Airlines suffered a fourth-quarter loss of $200 million because of an operational meltdown in late December. But the Dallas-based company still ended 2022 with a net income, according to the company’s Jan. 26 news release. Even so, the company projects the first quarter of 2023 will result in a net loss, “based on current…
German Business Morale Brightens Further in January: Ifo
BERLIN—German business morale brightened in January as Europe’s largest economy started the new year with easing inflation and an improved outlook, a survey said on Wednesday. The Ifo institute said its business climate index rose to 90.2, in line with consensus according to a Reuters poll of analysts and up from a reading of 88.6…
Dogma Trumps Democracy for America’s Climate Change Advocates
January 14, 2023
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Commentary Federal Reserve Chair Jerome Powell dismissed the notion that the Federal Reserve should take a hand in making climate policy. “Without explicit congressional legislation, it would be inappropriate for us to use our monetary policy or supervisory tools to promote a greener economy or to achieve other climate-based goals,” he said at a forum…
Goldman Sachs Platform Solutions Business Lost $3 Billion in Nearly Three Years
NEW YORK—Goldman Sachs Group Inc. lost $3.03 billion in nearly three years on its platform solutions business that houses transaction banking, credit card and financial technology businesses. This is the first time that Goldman has given a detailed look into the financials for the consumer and fintech arms that were intended to diversify the Wall…
The Fall of Hong Kong Under the National Security Law
Commentary At one point in time, Hong Kong was undeniably one of the world’s greatest cities. Low tax rates, proximity to other Asian countries, good for weekend getaways, and high life expectancy rate, to name a few attributes. Above all, Hong Kong boasted itself as one of the “freest cities” on earth—a great international financial…
Massive Government Spending Will Exacerbate 2023 Economic Downturn: Analyst
News Analysis As a raft of banks forecast economic pain in 2023, one economic historian warns that the U.S. government’s gargantuan spending programs will push the economy well past its breaking point. Experts are debating whether the United States is likely to experience a recession. Even the more optimistic forecasts posit that, if a full-blown…
Talents Shortage Remains the Top Challenge For Australian Businesses: KPMG Survey
Recruiting, retaining, and upskilling staff remains the top challenge concerning Australian business leaders in 2023, according to the latest annual report by KPMG Australia, which surveyed 473 senior executives. The fifth edition of Keeping us up at Night, released in the first week of the new year, shows that 77 percent of business leaders nominated…
9 Lessons to Learn From Being in the Entrepreneurial Trenches
By Kyle Hermans Once upon a time, my wife Jenna and I and our three kids under ten moved from San Francisco to Los Angeles, had another baby, and bought our first house together. This , we thought, is the perfect time to quit our jobs and start a business! [eyeroll] The idea of our…
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