Friday’s “anemic” jobs report (just 49,000 jobs added in January, and precious few of those in the private sector) “underscored the pandemic’s brutal damage to the job market” and likely made President Biden’s sale of his...more
The European Union has unveiled a new antitrust probe and accompanying charges against Amazon over alleged the “use of non-public business data from independent sellers on its marketplace that could benefit the company’s own...more
ConocoPhillips is doubling down on its commitment to the Midland basin by buying Concho Resources Inc. in “an all-stock transaction valued at $9.7 billion,” even “as the American shale-drilling industry is facing a downturn...more
New Disney CEO Bob Chapek made one of his biggest moves yet since taking the reins, announcing a realignment “of its business divisions on Monday that placed the focus squarely on Disney+ and its other streaming services as...more
Last Friday’s US Jobs Report saw unemployment fall to 8.4%, but the end of federal aid programs and a solid-but-not-gangbusters 1.4 million jobs gained in August leads many to fear a much worse employment picture ahead....more
New figures from the Congressional Budget Office predict that U.S. government debt will, thanks to the pandemic recession, just about eclipse the size of the nation’s GDP—a level not reached since just after World War II....more
Amazon a juggernaut? Quarterly sales and profit prove how indispensable tech giants have become to our society. In the midst of a pandemic, Big Tech mostly shows gains....more
Volatility’s the name of the game these days on Wall Street. So what was down on Monday was up (a bit, at least) yesterday, although the basics of the situation haven’t improved at all....more
It’s been a week or so, and we’re running out of ways to say that this is bad. But it certainly is. Your bear market stats for the day: the biggest daily drop by percentage for both the S&P 500 and the Dow Jones Industrial...more