LONDON—Global shares and commodities slipped on Monday after data showed the Chinese economy is growing a lot more slowly than expected, while the dollar eased as traders ramped up their bets for an imminent end to U.S. rate rises. China reported economic growth of 0.8 percent in the second quarter, above the 0.5 percent forecasted,…
Global Shares, Dollar Sag After China Data; Traders Bet on Fed Sea Change
July 17, 2023
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United Airlines Agrees to Give Union Pilots Big Pay Raises
United Airlines and the union representing its pilots said Saturday they reached agreement on a contract that will raise pilot pay by up to 40 percent over four years. The union valued the agreement at about $10 billion. It followed more than four years of tumultuous bargaining that included picketing and talk of a strike…
Investors Exit Downgraded Target Stock
Mega retailer Target has not recovered from consumer boycotts triggered after the company promoted Pride merchandise, with share prices and market cap declining significantly along with financial and popularity metrics. American consumers started boycotting Target in May, after the retail chain rolled out its transgender collection, which included some items that targeted children, including books,…
Hollywood Strikes Could Open Up Opportunities for More Conservative Content to Thrive
July 15, 2023
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Now that Hollywood’s actors have joined its writers on the picket line, new content creation from studios and streamers has effectively been cut-off for the time being. There will be no red carpet walking or promotional events for actors to attend, which seems especially out of the ordinary during the summer blockbuster season. To belabor…
ANALYSIS: The Key to ESG: Controlling the Shareholder Vote
July 15, 2023
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During the discussion in which BlackRock CEO Larry Fink told his audience that his firm was “forcing behaviors” on companies whose shares it held, he also divulged a key lever of the progressive movement to control corporations: proxy voting. Fink told attendees at a 2017 New York Times conference that as an index fund manager,…
Rocket Engine Explodes Mid-Test in Japan’s Latest Space Mishap
An engine being designed for Japan’s Epsilon S space rocket exploded during testing, in the latest mishap for the nation’s space program. The Japan Aerospace Exploration Agency (JAXA), has been making efforts to launch advanced rockets, to compete with Elon Musk’s SpaceX. JAXA had previously aborted the inaugural launch of its Mitsubishi-built, next-generation H3 liquid fuel…
Hybrid Work Trend May Crash Commercial Real Estate Values By 2030, Says McKinsey
July 15, 2023
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A trend towards hybrid and remote work since the pandemic may cut $800 billion from office property values by the end of the decade, according to a recent study by consulting firm McKinsey. McKinsey said that employees continued to spend far less time working at the office compared to the pre-pandemic era, The survey, published on July…
Worst Case Scenario: Hybrid Work Trends May Result in Office Space Demand Falling 38 Percent by 2030, Says McKinsey
July 15, 2023
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A trend towards hybrid and remote work since the pandemic may cut $800 billion from office property values by the end of the decade, according to a recent study by consulting firm McKinsey. McKinsey said that employees continued to spend far less time working at the office compared to the pre-pandemic era, The survey, published on July…
American Airlines and JetBlue Will End Their Partnership Next Week After Losing Antitrust Case
NEW YORK—American Airlines and JetBlue Airways will end their partnership in the Northeast next week, after a judge ruled that the deal violates antitrust law. JetBlue said Friday that it will end codesharing—the practice of selling seats on each other’s flights—and reciprocal frequent-flyer benefits on July 21. Customers who already bought a ticket through the…
Microsoft’s Contract With Government Agencies Under Fire Following Chinese Cyber Attacks
July 14, 2023
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After Chinese hackers were able to hack into U.S. government email accounts last week, Microsoft’s security systems are now under fire from Congress. A cyber gang based in China was accused of stealing emails from senior U.S. officials in a major security breach through a weakness in Microsoft MSFT.O software. The attacks were allegedly able…
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