The fast food industry has been wringing its hands over the devastating impact on its business from California’s new minimum wage law on its workers. Their raw numbers certainly bear this out. A full-page ad recently placed in USA Today by the California Business and Industry Alliance claimed that about 10,000 fast food jobs had … Read more
A new wave of political pressure greeted Fed Chairman Jerome Powell as he and his colleagues gathered in Washington this week to discuss the direction of interest rates and a cooler-than-expected inflation reading on Wednesday. reinforced that consideration. From the left, the immediate reaction from Senator Martin Heinrich, the chairman of the Joint Economic Committee … Read more
GameStop Analyst Cuts Price Target After ‘Rambling By Roaring Kitty Presentation’: Does the video game company have ‘enough runway to appease its cult-like shareholders’? Video game retailer shares GameStop Corporation (NYSE:GME) have traded higher in recent weeks on optimism from the return of Noisy kitten (does it have Keith Gill) and some stock offerings that … Read more
It’s time to take a breather and look for a new beginning. That seems to be the motto for Paramount Global and its investors. With news Tuesday that Shari Redstone has ended months of talks to acquire Paramount from a consortium led by Skydance Media and RedBird Capital without a deal, Wall Street analysts are … Read more
Eight former SpaceX engineers filed a lawsuit against Elon Musk on Wednesday alleging sexual harassment and retaliation. Musk, who founded SpaceX in 2002, “knowingly and intentionally created an unwelcome hostile work environment based on his workplace intrusion behavior of sexually explicit photos, memes, and comments demeaning women and/or the LGBTQ+ community “, say the employees. … Read more
Stellantis CEO Carlos Tavares holds a press conference after meeting with unions, in Turin, Italy, March 31, 2022. Massimo Pinca | Reuters DETROIT – From the beginning of a union to create Stellantis in 2021, CEO Carlos Tavares has been on a cost-cutting mission. This is starting to pay dividends for the company and investors. … Read more
The Federal Reserve on Wednesday kept the key interest rate unchanged and signaled that only one cut is expected before the end of the year. With markets hoping for a more accommodative central bank, Federal Open Market Committee policymakers took two rate cuts off the table after their two-day meeting from three indicated in March. … Read more
The European Union said on Wednesday it would impose additional tariffs of up to 38 percent on electric vehicles imported from China into the bloc, in what EU leaders called an effort to protect the region’s manufacturers from unfair competition. The move, a month after President Biden quadrupled US tariffs on Chinese electric vehicles to … Read more
Elon Musk had a sexual relationship with a SpaceX employee who started at the company as an intern and then was hired not long after she graduated from college before ending things, according to a report. Musk, who has a fortune estimated by the Bloomberg Billionaires Index at $198 billion as of Wednesday, also pursued … Read more
American households hoping that interest rates will soon fall will have to wait a little longer. The Federal Reserve is expected to keep the key interest rate unchanged on Wednesday, at least until there are clearer signs that inflation is rising more slowly. But forecasters will be listening to Jerome H. Powell, the Fed chairman, … Read more