After a Covid outbreak at a Foxconn factory in Zhengzhou, China, some workers chose to go home. Pictured here are the shuttle buses on Oct. 30, 2022. Vcg | Visual China Group | Getty Images BEIJING — China’s decision to maintain Covid controls is pushing companies to look to factories outside the country, according to
Month: November 2022
The Federal Reserve raised the target federal funds rate by 0.75 percentage point for the fourth time in a row on Wednesday, marking an unprecedented pace of rate hikes. The U.S. central bank has raised the benchmark short-term borrowing rate a total of six times this year, including 75 basis point increases in June, July and
Share to Facebook Share to Twitter Share to Linkedin Economists increasingly fear the Fed is now pushing the U.S.—and world–into a deeper than needed recession, risking millions of jobs and market stability. During Volcker’s reign, unemployment stayed above 10% for nine straight months and the mortgage rate hit nearly 17%. Some months after Jerome Powell
Wednesday’s announcement by the Federal Reserve of another ¾ point interest rate increase continues the central bank’s grim war with inflation. Higher rates are doing damage across the economy, which has never stabilized after the COVID-19 shock. But commercial real estate, vital to cities’ economic and fiscal well-being, hasn’t taken a big hit—yet. Ever-higher interest
The Federal Reserve has decided to raise the target range for the federal funds rate to 3.75% – 4%, continuing its aggressive campaign against persistent inflation. Policymakers suggested that there was more to come, but also outlined a possible rationale for slowing rate increases soon. That’s the sixth consecutive rate hike this year, pushing rates
In this article BA Follow your favorite stocksCREATE FREE ACCOUNT An aerial view of the engines and fuselage of an unpainted Boeing 737 MAX airplane parked in storage at King County International Airport-Boeing Field in Seattle, Washington, June 1, 2022. Lindsey Wasson | Reuters Boeing is planning to ramp up production and deliveries of new
In this article CVS Follow your favorite stocksCREATE FREE ACCOUNT Rafael Henrique | Lightrocket | Getty Images CVS Health reported third quarter earnings Wednesday morning that beat Wall Street’s expectations. Here’s how the pharmacy giant performed compared to Wall analysts’ estimates, according to Refinitiv: Earnings per share $2.09 vs. $1.99, expected. Revenue $81.16 billion vs.
The Federal Reserve on Wednesday approved a fourth consecutive three-quarter point interest rate increase and signaled a potential change in how it will approach monetary policy to bring down inflation. In a well-telegraphed move that markets had been expecting for weeks, the central bank raised its short-term borrowing rate by 0.75 percentage point to a
Jayk7 | Moment | Getty Images As we head into the fourth quarter, investors lack much to be excited about. Through Sept. 30, the S&P 500 Total Return Index declined by 23.87%, almost ensuring equity investors won’t enjoy anything close to the 31.4%, 18.4% and 28.7% returns the index delivered in 2019, 2020, and 2021,
Martin Barraud | Caiaimage | Getty Images After another 0.75 percentage interest rate hike from the Federal Reserve, financial experts have tips for investors amid volatility in the stock and bond markets. Continuing to fight inflation, the central bank on Wednesday announced its fourth consecutive three-quarters of a percentage point interest rate increase. The
Last month, the United Kingdom saw the near-collapse of 90% of its pensions holding £1.5 trillion in assets. Now comes news that the German pension system will collapse without reform. Suddenly, the world is awakening to the fact that pensions globally are struggling. The myriad reasons pensions fail are poorly understood—in part because failures are
A row of Renaissance Revival townhouses stretching from one to 25 East 92nd Street was the stylish new address in 1890 Manhattan. Number 17 was purchased by Bruno Richter for $34,000 (just over $1 million in 2022 dollars.) Born in Germany in 1849, Richter was the head of the neckwear manufacturing firm H. Richter &
A security guard stands next to a Bed Bath & Beyond sign at the entrance to a New York City store location. Scott Mlyn | CNBC Bed Bath & Beyond’s chief customer officer, Rafeh Masood, has resigned, marking the latest leadership change at the embattled retailer. Masood also held the role of chief technology officer.
In this article PARA Follow your favorite stocksCREATE FREE ACCOUNT Tom Cruise in “Top Gun: Maverick” Source: Paramount Paramount Global on Wednesday reported $6.92 billion in revenue for its third quarter, an increase of 5% year-over-year. Yet the company’s results missed expectations as it suffered from cord cutting and a drop in advertising revenue. Here’s
In this article PARA GOOS-CA EL CVS Follow your favorite stocksCREATE FREE ACCOUNT Check out the companies making headlines before the bell: CVS (CVS) – CVS gained 1.9% in the premarket after reporting better-than-expected revenue and profit for its latest quarter. The company also raised its adjusted full-year guidance. The outlook excludes charges related to
In 2018, I started experimenting with side hustles to pay off my $40,000 of debt in credit cards and student loans. Today, I’ve accomplished that goal — and more. In 2021, I built enough income streams to quit my $98,500-per-year engineering job and work on my businesses full-time. At 28 years old, I am my
Bargain hunting is certainly not new. But with the Covid pandemic came a surge in “thrifting,” or buying and selling pre-owned goods. At first, some families under financial pressure looked to secondhand shopping as a way to save. Then it became mainstream. More from Personal Finance:66% of workers are worse off financially than a year
Taxes can take a big bite out of your retirement income. The more retirement income you have, the more you will be taxed. This results in more of you hard earned money being used to pay taxes. Keep reading as I share how various types of retirement income are taxed. The good news is that
The bold, hype-laden pronouncements around AI and machine learning were hard to miss five or six years ago. Headlines about robo-accountants stealing jobs, algorithms that will cure disease and autonomous vehicles were everywhere. Then, reality quickly caught up with the hype, those promises eventually proved overly ambitious and many people lost the plot. Then, a
Vineyard properties have become a status symbol for luxury buyers in countries worldwide. But they also draw those interested in pursuing a serious pastime, producing and enjoying their own wine or seeking an investment opportunity. In Italy, the island of Sardinia is known for several varieties, including the white full-bodied wines produced around Olbia in