Wall Street experienced gains on Tuesday, with stocks climbing due to the continued decline in Treasury yields. The S&P 500 index recorded its seventh consecutive day of gains, marking its longest winning streak since November 2021 when it rose for eight consecutive sessions. The Nasdaq Composite also achieved its lengthiest string of gains since that…
In a controversial move, Starbucks has announced new pay and benefits for its employees, but the perks are only for non-unionized workers. This decision has reignited the ongoing battle between Starbucks and union organizers across the country. The National Labor Relations Board (NLRB) has previously ruled that such moves by Starbucks violate federal labor laws,…
In the realm of economics, a classic chicken-or-the-egg conundrum emerges: With interest rates at their highest in 22 years, which will wane first, the job market or consumer spending? The dynamics are intricate. When spending decreases, companies face reduced revenues, and they may resort to layoffs as profits dwindle. In contrast, staff reductions curb consumers’…
Alphabet’s Google has recently decided to discontinue a $15 billion development project in California’s Silicon Valley, throwing a wrench into the tech giant’s ambitious plans to address the affordability crisis in the region. Google and its Australian partner, Lendlease, jointly made the decision to terminate the San Francisco Bay Project, which involved developing four master-planned…
Multiple US banks faced deposit delays on Friday, stemming from an error within a payment processing network, as confirmed by the Federal Reserve. It’s important to note that this issue was attributed to human error and not a malicious attack. Banks have reassured customers that their deposits are safe, and while this rare delay affected many…
China’s treatment of maps in relation to its own territorial claims has been a well-known issue for years. The country has consistently pressed international companies to adjust their maps, ensuring they reflect its own views on territories and borders. Now, China is facing criticism and questions over why its popular apps, such as Baidu and…
Investors are closely monitoring the Federal Reserve’s monetary policy as the central bank decided to hold interest rates steady for the second consecutive time during its recent meeting. While many investors believe the Fed is done raising rates, concerns about the US economy’s health continue to linger, particularly in the small-cap stock segment. The Russell…
In a significant legal development, a Missouri jury has rendered a verdict against the National Association of Realtors (NAR), a real estate industry trade group, and several residential brokerages. The jury found them liable for nearly $1.8 billion in damages, concluding that they had conspired to artificially maintain high commissions for home sales. This lawsuit…
Oil prices faced another decline on Monday, reflecting a shifting balance of concerns in the market. While Israel’s recent military operations in Gaza stirred regional tensions, it was the overarching global economic worries that took center stage. Brent crude, the global oil benchmark, dropped by 1.6% to $89 a barrel, and West Texas Intermediate (WTI)…
In the world of finance, few things can rattle investors quite like a soaring budget deficit, especially when it comes to the United States. The latest figures from the Treasury Department for the fiscal year that ended on September 30 painted a concerning picture, showing a budget deficit of $1.7 trillion. However, when we factor…