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A recession is coming in the U.S., and ‘a few rate cuts’ won’t prevent it, says strategist
An Aldi supermarket in Alhambra, California, US, on Thursday, June 27, 2024. Eric Thayer | Bloomberg | Getty Images Contrary to what many believe, investment research firm BCA Research sees that the economy is on the cusp of a recession, and the predicted upcoming U.S. Federal Reserve rate cuts will not be sufficient to steer […]
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Recent volatility spike was a ‘huge overreaction,’ but expect more ahead, UBS strategist says
August has been a choppy month for markets, with uncertainty over the health of the global economy sparking a jump in volatility. At the start of the month, a weaker-than-expected jobs report in the U.S. raised concerns about a potential recession and caused U.S. stocks to slide. Meanwhile, a more hawkish tone from the Bank […]
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Michelle Obama: Trump used ‘misogynistic, racist lies’ to ‘try to make people fear us’
Former First Lady Michelle Obama directly challenged former President Donald Trump over his decade-long effort to vilify the Obamas in her speech at the Democratic National Convention in Chicago on Tuesday. “Donald Trump did everything in his power to try to make people fear us,” Obama said. “Doubling down on ugly, misogynistic, racist lies as […]
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GM lays off more than 1,000 salaried software and services employees
A General Motors sign is seen during an event on January 25, 2022 in Lansing, Michigan. – General Motors will create 4,000 new jobs and retaining 1,000, and significantly increasing battery cell and electric truck manufacturing capacity. Jeff Kowalsky | AFP | Getty Images DETROIT – General Motors is laying off more than 1,000 salaried […]
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UAW president slams Stellantis CEO over job cuts, alleged price gouging
UAW President Shawn Fain chairs the 2023 Special Elections Collective Bargaining Convention in Detroit, Michigan, U.S., March 27, 2023. Rebecca Cook | Reuters DETROIT – United Auto Workers President Shawn Fain ratcheted up criticism of Stellantis CEO Carlos Tavares in a video Friday afternoon, accusing the chief executive of price gouging consumers and failing to […]
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Alaska Airlines flight attendants reject new contract, union says there’s ‘more work to do’
An Alaska Airlines Boeing 737-900ER aircraft on the tarmac at Seattle-Tacoma International Airport (SEA) in Seattle, Washington, US, on Monday, Jan. 22, 2024. David Ryder | Bloomberg | Getty Images Alaska Airlines flight attendants rejected a new labor deal that would have come with immediate raises averaging more than 24%, their union said Wednesday, setting […]
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Wednesday’s big CPI inflation report could mark a change in thinking for the Fed
Product prices as seen at Walmart. Courtesy: Walmart The news Tuesday was good for inflation, and investors hope it will get even better Wednesday when the Labor Department releases the July consumer price index report. With the score being one down, one to go on confirming that the early-year jump in prices either was a […]
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UAW hits Musk, Trump with federal labor charges over union busting comments
This combination of pictures shows Elon Musk, left, and Donald Trump, right. Afp | Getty Images The United Auto Workers on Tuesday filed federal labor charges with the National Labor Relations Board against former President Donald Trump and billionaire Elon Musk for publicly applauding the practice of firing employees who threaten to strike. “I look […]
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Australia’s second-quarter wages rise at slowest pace in a year
Shoppers walk around Pitt Street Mall on June 07, 2022 in Sydney, Australia. Brendon Thorne | Getty Images Australian wages rose at their slowest pace in a year in the June quarter, falling short of expectations, while softer gains in the private sector suggest the labor market was easing. Figures from the Australian Bureau of Statistics on Tuesday showed its wage price index […]
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Harris matches Trump proposal to ban taxes on tips at Las Vegas rally
U.S. Vice President Kamala Harris (L) and Former President Donald Trump Reuters Vice President Kamala Harris pledged to eliminate taxes on tips in the service and hospitality sectors if she wins the presidency, echoing the same proposal former President Donald Trump announced months earlier. Both candidates promised tax-free tips at separate rallies in Las Vegas, […]
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