Personnel
Stellantis laying off 2,450 plant workers due to discontinuation of Ram ‘Classic’ pickup truck
The 2019 Ram 1500 Rebel pickup truck is displayed at the North American International Auto Show in Detroit, January 15, 2018. Brendan McDermid | Reuters DETROIT – Automaker Stellantis plans to indefinitely lay off up to 2,450 U.S. factory workers later this year as it discontinues production of an older version of its Ram 1500 […]
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10-year Treasury yield dips as traders weigh state of U.S. economy after latest data
U.S. Treasury yields were lower Friday as investors continued to assess the state of the U.S. economy after labor data buoyed sentiment. The yield on the 10-year Treasury was around 6 basis points lower at 3.938% at 8:57 a.m. ET, nonetheless holding near the level it was at last week before a weak U.S. jobs report helped trigger […]
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JPMorgan Chase is giving its employees an AI assistant powered by ChatGPT maker OpenAI
Key Points JPMorgan Chase has rolled out a generative AI assistant to tens of thousands of its employees, the initial phase of a broader plan to inject the technology throughout the bank. The program, called LLM Suite, is already helping more than 60,000 employees with tasks like writing emails and reports. The software is expected […]
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JPMorgan raises 2024 recession odds to 35%
JPMorgan upped the likelihood it sees for the U.S. economy entering a recession this year, the latest sign of concern around the country’s financial health following the market turbulence this week. The bank raised its probability for a U.S. or global recession to 35% by year end, chief global economist Bruce Kasman told clients in […]
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‘Never quit your job,’ says early retiree and self-made multimillionaire: Do this instead
Earlier this year, Sam Dogen quit his job. For most people, that wouldn’t be much of a story, but for the millionaire founder of Financial Samurai, a couple of details stand out. For one, it was his first gig since 2012. Dogen, 47, has lived as a retired, stay-at-home dad since 2012, boosting his annual […]
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Fed holds rates steady and notes progress on inflation
WASHINGTON – Federal Reserve officials on Wednesday held short-term interest rates steady but indicated that inflation is getting closer to target, which could open the door for future interest rate cuts. Central bankers made no obvious indications, though, that a reduction is imminent, choosing to maintain language that indicates ongoing concerns about economic conditions, albeit […]
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Private payroll growth slowed to 122,000 in July, less than expected, ADP says
A “Now Hiring” sign is seen at a FedEx location on Broadway on June 07, 2024 in New York City. Michael M. Santiago | Getty Images Private job growth slowed further in July while the pace of wage gains hit a three-year low, payrolls processing firm ADP reported Wednesday. Companies added just 122,000 jobs on […]
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Stellantis to offer broad buyouts to U.S. salaried workers, warns of possible layoffs
CEO of auto giant Stellantis Carlos Tavares speaks to journalists during a joint media event by Stellantis and Leapmotor in Hangzhou, in eastern China’s Zhejiang province on May 14, 2024. – | Afp | Getty Images DETROIT – Automaker Stellantis plans to once again reduce its U.S. employee headcount through a broad voluntary buyout, as […]
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Family offices are giving top staff equity and profit shares in battle for talent
Thomas Barwick | Digitalvision | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox. Family offices are increasingly offering lucrative shares of equity and deal profits to staff […]
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Thousands of Disneyland workers vote to authorize a strike
People walk toward an entrance to Disneyland on April 24, 2023 in Anaheim, California. Mario Tama | Getty Images Four unions representing more than 14,000 workers at Disney’s theme parks and resort properties in Southern California announced late Friday that members have voted to authorize a strike, citing alleged unfair labor practices during contract negotiations. […]
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