As if we needed to say it, a potential rail workers’ strike would not be ideal for the American supply chain. The walkout “could exacerbate the congestion that has plagued American ports” and “would bring fresh pressure to...more
So . . . . That was a day on Wall Street, amirite? – NYTimes and WSJ and Bloomberg and MarketWatch For those who somehow missed it, you can thank the slightly-worse-than-expected CPI figures for that market freefall...more
Peloton founder John Foley is heading out the door along with other senior leaders “in a management shake-up as the maker of connected exercise equipment races to turn itself around.” Foley had stayed on at the company as...more
As expected, the ECB hiked interest rates ¾ of a percentage point on Thursday, the latest bold move by a central bank to tackle the persistently high inflation that’s dragging down economic growth around the world...more
Fed Vice Chair Lael Brainard affirmed this week that the Fed’s in no hurry to dial back its rate hikes, suggesting that the central bank “would need to see ‘several months’ of low monthly inflation data to be convinced that...more
Vaping powerhouse Juul has reached a sweeping deal to resolve a multi-state inquiry over its “sales and marketing practices that they claim fueled the teenage vaping crisis.” Under the tentative agreement, Juul would pay...more
Disney is reportedly mulling over a “broader membership plan, which could offer discounts, special experiences and other perks to its legion of super fans.” The Prime-style program would tout increased value on the company’s...more
New figures showed that job openings increased in July, “a sign that the U.S. labor market remains vibrant even as the Federal Reserve tries to cool the economy by raising interest rates.” The job openings and labor turnover...more
California lawmakers have passed a bill that, if signed into law by Governor Gavin Newsome, could “transform the way the service sector is regulated by creating a counsel to set wages and improve working conditions for...more
Today’s the day, and you KNOW that Wall Street will be watching. In a few hours, Fed Chair Powell will take the stage at the Kansas Fed’s annual Jackson Hole conference and provide “an update on the economic outlook that...more
In a complaint that has not gone unnoticed by Elon Musk and his legal team, Twitter’s former head of security, Peiter Zatko, “accused the company of making false and misleading statements about its security practices and...more
U.S. home sales fell in July for the sixth month in a row “as higher mortgage rates continue to push would-be buyers to the sidelines.” Sales of existing homes were down almost 6 percent in July from a month earlier and fell...more
The Fed’s July Open Market Committee meeting minutes dropped on Wednesday, and they showed a central bank pleased that early efforts to tame inflation were “beginning to have an effect” but very committed to additional rate...more
Yesterday President Biden signed into law the massive Inflation Reduction Act, a wide-ranging reconciliation measure “meant to reduce health costs, reduce greenhouse gas emissions and raise taxes on corporations and wealthy...more
After pushing Disney to go all in on streaming in 2020, activist investing firm Third Point has amassed another sizeable stake in Big Mouse and is lobbying for additional changes aimed at making the sprawling company more...more
As the crypto annus horribilis marches on, the largest cryptocurrency exchange in the U.S.—Coinbase—finds itself dragged down by as well. On Tuesday, the company reported a 63% decline in revenue and “swing to a net loss of...more
Walmart is joining the recently expanded ranks of companies cutting positions in an effort to fight falling profits. The massive retailer will terminate about 200 corporate workers as part of a restructuring effort largely...more
The International Monetary Fund is out with a new warning that “the world could soon be on the brink of a global recession”—the result of the economies in the U.S., China, and Europe slowing “more sharply than anticipated” as...more
Amazon announced this week that it is acquiring One Medical, “a network of primary care clinics,” as part of its plans “to become a player in the health care industry.” The $3.9 billion deal still requires “approval from One...more
The European Central Bank is raising interest rates today for the first time in more than a decade “as it ramps up its fight against record high inflation across the countries that use the euro.” Like central bankers...more
New CPI figures showed U.S. inflation topping the already high expectations for June. Prices were up 9.1% from a year earlier, all but confirming another big rate hike from the Fed as it struggles to “wrestle under control”...more
The other shoe dropped for Elon on Tuesday, with Twitter suing the Tesla CEO in Chancery Court in Delaware to force him to “complete is $44 billion acquisition” of the social media company. That court will now “determine...more
All the hits—and let’s be honest . . . mostly inflation and its staying power—from Treasury Secretary Yellen’s trip to the Hill on Tuesday, including admissions that her and Chair Powell’s frequent use of the term...more
Jobs Report Friday. Here’s what we’re watching for in the numbers, including speculation about some easing in the historically tight labor marke...more
The Federal Reserve made good on Wednesday of months of rate-hike foreshadowing, announcing a half-percentage-point increase in interest rates and detailing a plan to shrink the central bank’s “massive bond holdings.” In...more