Small businesses feel good about the future, according to the Q3 MetLife and U.S. Chamber Small Business Index. Why it matters: Main Street employers remain resilient in the face of high inflation and the worker shortage. By the numbers: 66% of small businesses report that their business is in good […]
Economy
Consumers may be dumping their economic fears into Fido’s bowl. Food giant General Mills (GIS) — which counts pet brand Blue Buffalo among its stable cereal and snack brands — saw noticeable sluggishness in demand for pet food in its most recent quarter. Reported net sales for Blue Buffalo were […]
CPAs who are also top executives at their companies are feeling a little more upbeat about the U.S. economy as recession fears fade, according to a new survey. The third-quarter AICPA & CIMA Economic Outlook Survey polled a group of 401 CEOs, CFOs, controllers and other CPAs and found that […]
The ongoing double strike in Hollywood hit a stalemate last week after the Writers Guild of America (WGA) slammed the studios’ counterproposal, lamenting it didn’t come close to satisfying the writers’ demands. The negotiation failure set a sour tone throughout Hollywood as the writers’ strike prepares to enter its fifth […]
This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with: The economic story of the summer has been about resilient growth in the US. But for months now, survey-based readings on the manufacturing and services sectors have suggested […]
If your savings are languishing in a low-yield account, it’s time to change that. /Getty Images In today’s inflationary environment, it often seems like consumers are losing money left and right. They’re paying more for everything from groceries to gas, accruing more credit card interest and watching their investment returns […]
India’s Taj Mahal At Sunrise. Wolfgang Kaehler | Lightrocket | Getty Images India is poised to become the world’s second-largest economy by 2075, leapfrogging not just Japan and Germany, but the U.S., too, says Goldman Sachs. Currently, India is the world’s fifth-largest economy, behind Germany, Japan, China and the U.S. […]
The Federal Reserve said Wednesday it was keeping its key interest rate at about 5% — the first time it has kept the rate steady in more than a year. The reason for the hold: Inflation appears to be finally easing, and the Fed wants to assess whether it has […]
The May jobs report released Friday showed the US economy remains strong with more than 300,000 jobs created last month, while the unemployment rate rose to 3.7%. The US economy added 339,000 nonfarm payroll jobs last month, data from the Bureau of Labor Statistics showed Friday. This marks the 14th-straight […]
On Thursday, revisions to first quarter economic data showed the economy grew faster than initially expected despite inflation coming in higher than first noted. In the labor market, revisions resulting in part from fraudulent data in Massachusetts show jobless claims aren’t piling up as previously anticipated. Together, the data points add […]
NEW YORK — Wall Street tumbled Tuesday to its worst day in a month on worries about the strength of corporate profits and the economy following some mixed reports. The S&P 500 fell 1.6% to break out of a weekslong lull. The Dow Jones Industrial Average dropped nearly 345 points, […]
U.S. economic activity grew at a slower pace than expected in the first quarter of 2023, flashing further signs that the economy is slowing down as recession fears swirl and the Federal Reserve considers more interest rate increases. The Bureau of Economic Analysis’ advance estimate of first quarter U.S. gross […]
Federal Reserve Chair Jerome Powell said Tuesday the “disinflationary process” in the U.S. economy has begun, and said additional rate hikes will likely be necessary to bring inflation back to its 2% target. Speaking in an interview with David Rubenstein at the Economic Club of Washington, D.C., Powell reiterated his […]
By most measures, the new year is off to a good start. However, economists and business leaders alike predict there are rougher times ahead for the market and the economy. Year to date, the S&P 500 and Dow Jones Industrial Average have advanced about 4% and more than 2%, respectively, […]
Secretary of Labor Marty Walsh speaks during a news conference at the White House in Washington, April 2, 2021. Erin Scott | Reuters There has been a lot of talk about looming layoffs, and by some recent surveying, as many as half of large employers are thinking about labor cost […]
Hong Kong CNN Business — When Xi Jinping came to power a decade ago, China had just overtaken Japan to become the world’s second largest economy. It has grown at a phenomenal pace since then. With an average annual growth rate of 6.7% since 2012, China has seen one of […]
If there needs to be a U.S. recession to bring down inflation to appropriate levels, the Fed would be cool with that, says one Wall Street pro. “Unfortunately, yes [the Fed would be OK with a recession]. I’m going to say yes,” BMO senior economist Jennifer Lee said on Yahoo […]
Job growth slowed for a second month in September as a series of supersized interest rate hikes permeated the U.S. economy, but the softer nonfarm payroll gain is still unlikely to deter policymakers from aggressive monetary action to fight inflation that remains at a decades-high. Here are highlights from the […]
US corporate profits surged to a record $495.3 billion, or at a 27.1% annualized rate, in the third quarter as consumer demand bounced back and firms reopened, Commerce Department data published Wednesday showed. The climb comes after 12% and 10.3% declines in the first and second quarters, respectively. The sharp […]
The last few days were significant for the insurance industry, not only because it supported the federal government in the fight against Covid-19 like many other sectors did, but because its contribution was directly on frontline health workers who have through their role sacrificed their lives for the rest of […]