US Labor Market Holds Steady, But Strikes and Storm Loom as …
WEB3 days ago · Nonfarm payrolls are expected to increase by 140,000 in September, according to a survey by Reuters. This is slightly below August's gain of 142,000, as the labor market continues to cool in response to the Fed's earlier rate hikes. The unemployment rate is projected to hold steady at 4.2%, up from 3.4% in …
Massive Ship Backlog Grows as U.S. Dockworkers Strike Threatens …
WEB3 days ago · The longest dockworker strike in nearly 50 years has entered its third day, triggering a rapidly growing backlog of ships and raising concerns about potential shortages of goods ranging from bananas to auto parts. The International Longshoremen's Association (ILA) launched a historic strike on Tuesday after labor talks broke down with the United States Maritime Alliance (USMX), leaving 45,000 ...
Business Times - Business & Financial News, China & International ...
WEBTesla Reportedly Opts Out of Performance-Based Stock Incentives for Employees Amid Cost-Cutting Measures. Business Times is a digital global news publication that provides comprehensive coverage and analysis of the most important business, economic, financial, political and technological issues from China and around the world.
Port Strike Halts U.S. Shipping, Threatens $5 Billion Daily Hit to ...
WEB4 days ago · The recent strike by the International Longshoremen's Association (ILA) has disrupted half of the U.S.'s ocean shipping network, stalling goods ranging from food to automobiles and sparking concerns about significant economic ramifications. President Joe Biden's administration has put pressure on port employers to raise their offer to dockworkers, following the collapse of negotiations for a ...
Fed Chair Powell Signals More Rate Cuts but Warns Against …
WEB5 days ago · Despite some positive signs, Powell's remarks made it clear that the Fed is prepared to act more aggressively if the economic outlook deteriorates. During the Q&A, Powell stated that while the base case for policy is a slower pace of rate cuts, the central bank will respond quickly if necessary. "We will do what it takes in terms of the speed ...
With $1.5 Billion Loan, Michigan’s Palisades Aims for Historic …
WEB5 days ago · The Palisades nuclear plant in Michigan has taken a significant step toward becoming the first nuclear reactor in U.S. history to restart operations after a shutdown. On Monday, the Department of Energy (DOE) announced that Palisades has secured a $1.5 billion federal loan to support the ambitious revival, which is being driven by Holtec International, the plant's owner.
James Comer Subpoenas DHS Chief Mayorkas Amid Allegations of …
WEB5 days ago · Comer's inquiry is fueled by claims from a whistleblower that a non-classified group chat among DHS personnel includes information pertinent to the investigation of Walz's ties to China. In a letter accompanying the subpoena, Comer stated, "The Committee has learned that further relevant information regarding Governor Walz has been memorialized ...
Dollar Gains Ground as Powell Signals Caution on Rate Cuts, Yen ...
WEB5 days ago · The U.S. dollar strengthened broadly on Tuesday as Federal Reserve Chair Jerome Powell tempered expectations of aggressive interest rate cuts, pushing back against the speculation that has gripped financial markets in recent weeks. The dollar index rose by 0.4%, reaching 101.11, while Powell's remarks reshaped the outlook for future monetary policy as traders recalibrated their expectations ...
Fed Cuts Interest Rates by Half Point Amid Growing Concerns …
WEBSep 19, 2024 · On Wednesday, the central bank slashed the federal funds rate by 50 basis points, bringing it to a range of 4.75% to 5%. This aggressive move marks the beginning of what could be a series of rate cuts aimed at stabilizing the economy amid growing concerns about slowing job growth and softening inflation. The rate cut, which impacts short-term ...
Dollar Falters Ahead of Fed Rate Cut, Eyes on Potential 50 Basis …
WEBSep 17, 2024 · The U.S. dollar has been under increasing pressure as markets anticipate a significant shift in monetary policy from the Federal Reserve. As the Fed's decision on a potential rate cut looms, the dollar traded near its lowest levels of the year on Tuesday, with investors betting heavily on an aggressive easing cycle that could begin with a substantial 50 basis point reduction.