Economy
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Tech companies scaled back DEI teams last year amid ‘worrying’ backlash, report says
The tech industry saw a rollback in wage equity last year, while also shrinking its diversity, equity and inclusion teams, a new report shows. The recruiting platform Hired said this week that wage gaps widened in 2022 for women and men of all racial and ethnic groups except white and Asian women, though there was…
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U.S. economy running close to 2% growth rate in second quarter, S&P says
This version corrects the manufacturing PMI data which fell to a six-month low of 46.3 in June from 48.4 in the prior month. The numbers: The S&P Global “flash” U.S. service sector activity index fell to a 54.1 in June from 54.9 in the prior month, a two-month low. Economists surveyed by the Wall Street…
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U.S. stocks fall to cap off worst week since March
U.S. stocks fell Friday with the S&P 500 index on track for its worst week since the collapse of Silicon Valley Bank in March, suggesting the three month rally may be coming to an end. Meanwhile, investors sought safety in bonds and the U.S. dollar as a wave of interest-rate hikes and hawkish commentary from…
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Tesla, Anheuser-Busch, Logitech shares rise, while AMC, iRobot, Virgin Galactic shares fall, and other stocks on the move
Here are some of the bigger stock movers Thursday: Stock gainers: Tesla Inc. TSLA shares climbed 1.5%, reversing an earlier intraday loss of as much as 4.3%. The initial selloff followed a downgrade to equal weight from overweight at Morgan Stanley, which cited concerns over valuation and the expectation that the electric-vehicle giant will keep…
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Hey, politicians, keep your hands off our Social Security
Here we go again. Christie’s ideas include means-testing Social Security benefits for the very wealthy, and raising the retirement age for those in their 30s or 40s. Neither idea is totally crazy. Neither even need be draconian — at least in principle. But the devil, as usual, will be in the details. We were not…
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Jobless claims hit highest level since late 2021. Are layoffs getting worse?
[]The numbers: The number of Americans who applied for unemployment benefits last week was flat at 264,000, leaving it at a nearly two-year high and possibly signaling some decay in the U.S. labor market. []New jobless claims from two weeks ago were revised slightly to 264,000 from an original 262,000, government data showed. { if…
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This Bud’s for investors. Buy the stock even if Bud Light sales never recover, says analyst.
The summer haze settling over stocks doesn’t look ready to budge Thursday, with the S&P 500 index SPX in the throes of its longest losing streak since May. On the bright side, the index is looking at a 6% gain for the June quarter, whose end is just a few days away. In other corners…
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Half-point Bank of England hike called a possibility as U.K. inflation comes in hotter than forecast
A half-point interest rate hike from the Bank of England could be on the table after U.K. consumer prices rose a hotter-than-expected 8.7% in May, disappointing economists’ expectations for an ease to 8.4%. Data from the Office for National Statistics released on Wednesday also showed core inflation, which strips out volatile food and energy prices,…
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How can you know how much to save for retirement when the goalposts keep moving? Here’s a guide.
When it comes to preparing financially for retirement, Jessica Howard is wise beyond her years. “I absolutely am planning,” said Howard, 27, a Los Angeles-based care manager who schedules medical appointments and home health care for older adults.”“I have a drive to save for retirement because…I see 12 hours a day what can happen when…
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Experts worry a perfect ‘negative equity’ storm is brewing for many car owners; here’s what you can do if you’re caught in it
When Atlanta resident Morgan Nichole Scott financed a used Infiniti QX60 in late summer 2020, car prices were starting to skyrocket. But the single, working mother of four couldn’t delay the purchase because her old car had stopped running. Fast-forward to March 2023, when used-car prices had declined from record highs. Scott visited a dealership…