Economy
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P.F. Chang’s 34-year-old CEO on what he learned from billionaire John Paulson
Damola Adamolekun is far from your typical CEO. As head of the Asian fusion restaurant chain P.F. Chang’s, the 34-year-old Adamolekun is one of the youngest chief executives in the corporate world. He’s also one of a small number of Black CEOs in the country. The son of a neurologist and pharmacist, Adamolekun was born…
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More baby boomers are becoming homeless: ‘It takes just one crisis’ to push someone onto the streets
People aged 65 and older are the fastest-growing group of people who are homeless and their ranks will peak by 2030. This daunting forecast comes amid escalating rents nationally, stubborn inflation and a potential recession that compounds woes for baby boomers who have minimal savings for retirement. It also comes as traditional workplace pensions are…
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A family earning $75,000 can afford 23% of homes for sale. Five years ago, they could afford 50% of listings.
[]American households earning the median wage are seeing the pool of homes they can afford shrink, according to a new report by the National Association of Realtors and Realtor.com, published on Wednesday. []A family earning an annual income of $75,000 per year or less — about 51% of households — can afford to buy a home…
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Salesforce is trying a ‘cute gimmick’ to get workers back to the office, but it may fall flat
Salesforce is trying a new tactic in the battle to get employees back to the office: appealing to their charitable side. Salesforce CRM, +2.76% will donate $10 to charity for every day that employees go to the office from June 12 to June 23, Fortune reported this week. The company says it hopes to raise…
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Here’s one way women can feel more empowered when thinking about their finances
Sometimes it seems as if the deck is stacked against you. For women, high inflation and soaring housing costs in many parts of the U.S. can be compounded by a perception that they are unable to work toward financial independence. Alessandra Malito shares the results of a survey that found that women shy away from,…
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Two-year Treasury yields end at 3-month highs as investors eye approaching Fed decision
[]U.S. bond yields advanced on Friday, with the yield on the 2-year Treasury rising to its highest level since March 9. []Investor have been focused on what could be next for interest rates ahead of the Federal Reserve’s June 13-14 policy meeting. What happened The yield on the 2-year Treasury TMUBMUSD02Y, 4.606% advanced 8.7 basis…
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Meet Turkey’s new central bank governor as ex-First Republic exec takes on soaring inflation, tumbling lira
The Turkish government has appointed its first first female central bank governor, Hafize Gaye Erkan, a former Goldman Sachs banker who is charged trying to rebuild financial stability and credibility for the country. Erkan replaces Şahap Kavcıoğlu, who held the position for just over three years and will now head up the country’s Banking Regulation…
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Gold posts a weekly gain ahead of next week’s U.S. inflation data, Fed decision
Gold prices settled lower on Friday, but held onto a modest gain for the week — their second in a row — on the back of overall weakness in the U.S. dollar. Traders looked to U.S. inflation data and the outcome of the Federal Reserve’s monetary policy meeting, both due next week, as the catalysts…
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Apple’s iPhone sales were weaker than usual this May, analyst says
Spring is rarely an exciting time for iPhone sales, as consumers await the fall launch of new models, but this May’s sales were likely below typical patterns, according to an analyst. KeyBanc Capital Markets analyst John Vihn wrote Thursday that his checks with wireless carriers found “muted” sales of Apple Inc.’s AAPL, +0.22% iPhones during…
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Want to fight your office’s return-to-work mandate? The law isn’t on your side.
The push and pull continues between management and staff about returning to the office. And in some cases it’s becoming more acrimonious. But if push comes to shove — specifically, a company shove back to the office — workers likely do not have many ways to challenge the directive in court, employment lawyers say. “With…