Jackyenjoy photography | Moment | Getty Images The start of 2024 has not been kind to workers in industries that started the year with layoffs. Google cut several hundred jobs in its central engineering, hardware and assistant teams. Amazon is shedding hundreds of positions in its Prime Video, MGM Studios, Twitch livestreaming and Audible divisions. … Read more
Extreme Photographer | E+ | Getty Images As inflation continues to decline across the US economy, some consumer categories have fallen into outright deflation. In other words: Americans are seeing a decline in the prices of some items. Economists said these declines were largely in physical goods rather than services. Demand for goods surged at … Read more
People carry shopping bags when they visit a department store during the New York holiday season. Eduardo Munoz | Reuters According to the CNBC/NRF Retail Monitor for December, retailers posted solid gains last month to close out the holiday season. But the data also show that the true state of consumer spending is now being … Read more
US President Joe Biden during his visit to Flex LTD in West Columbia, South Carolina, June 6. Jonathan Ernst | Reuters The White House took aim at former President Donald Trump after the Republican presidential candidate said he hoped the economy would collapse this year rather than during his theoretical second term. “It is the … Read more
US President Joe Biden greets South African President Cyril Ramaphosa in the Oval Office of the White House in Washington, September 16, 2022. Evelyn Hockstein | Reuters Accusing Israel of genocide in South Africa has further strained already shaky relations with the US and could have serious diplomatic consequences. The International Court of Justice, the … Read more
The sharp drop in mortgage interest rates in December could have kicked off this year’s spring housing market. Rates are about a full percentage point lower than in October, and consumers expect them to fall even more. Optimism about mortgage rates rose sharply in December, according to Fannie Mae’s monthly consumer survey. For the first … Read more
After the closing bell at the New York Stock Exchange on December 13, 2023, the screen will show the Dow Jones Industrial Average. Brendan McDermid | Reuters The global economy is moving into a new ‘super cycle’, with artificial intelligence and decarbonisation as driving factors, says Peter Oppenheimer, head of macro research in Europe at … Read more