Personnel
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 […]
Read More
‘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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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. […]
Read More
Amazon’s Prime Day a ‘major’ cause of worker injuries, Senate probe finds
An Amazon workers pull a cart of packages for delivery on E 14th Street on July 12, 2022 in New York City. Michael M. Santiago | Getty Images Amazon Prime Day, the 48-hour discount blitz that kicks off Tuesday, is a “major” cause of worker injuries, according to the preliminary results of a Senate probe. […]
Read More
How AI and automation will reshape grocery stores and fast-food chains
AI isn’t just a hyped innovation in the tech sector; the food industry is also investing heavily in the red-hot trend. Americans heading to the grocery store or their favorite fast-food restaurant will already have noticed the introduction of the new technology in such services as self-checkout kiosks and even AI ordering in drive-thru lanes. […]
Read More
30-year-old left the U.S., relocated to Budapest, and pays $560/month for a 1-bedroom apartment
A near-death experience inspired Denae McGaha to move halfway across the world. In 2011, when McGaha was 16 years old, a deadly tornado ripped through her parents’ house in Harvest, Alabama while she, her brother, mother and father were inside. McGaha’s father, Ronnie, threw himself on top of his daughter to protect her from the […]
Read More