China’s central bank keeps benchmark lending rates unchanged
China’s central bank on Friday kept its benchmark interest rates unchanged as the Chinese economy recovered from the country’s COVID reopening quicker than expected. The People’s Bank of China kept the one-year loan prime rate at 3.65% and five-year LPR at 4.3%, both unchanged from last month. The hold on the benchmark loan rates for […]
FAA says contractor unintentionally caused last week’s air-traffic outage
The Federal Aviation Administration said Thursday that a contractor working for the air-safety regulator had unintentionally deleted computer files used in a pilot-alert system, leading to an outage that disrupted U.S. air traffic last week. The agency, which declined to identify the contractor, said its personnel were working to correctly synchronize two databases—a main one and […]
How the Girl Scouts will keep women rolling in dough throughout their lives
The Girl Scouts are known for being smart cookie sellers. But the organization is also working to keep its girls rolling in dough as they grow up. In fact, just in time for the new Girl Scout cookie season, Charles Schwab SCHW, -6.77% has teamed up with the Girl Scouts of the USA to “modernize and […]
Bad omen? Americans ate out less over the holiday season.
What’s one of the first things people do when they get worried about the economy? They cook more at home and eat out less. That’s what happened toward the end of 2022. Sales at bars and restaurants fell in both November and December — the first back-to-back monthly declines in almost a year. Receipts at […]
Fed’s Bullard doesn’t want to ‘stall’ on getting interest rates over 5%
The Federal Reserve should not “stall” on raising its benchmark rates until they are above 5%, said St. Louis Fed President James Bullard, on Wednesday. “I like the front-loading story,” Bullard said in an interview with the Wall Street Journal that was streamed live . The Fed should move as rapidly as it can to […]
U.S. corporate greed has gone too far, says Norway fund manager
“‘We think in particular in the U.S. the corporate greed has just gone too far.’” That’s the head of Norway’s $1.3 trillion sovereign wealth fund, speaking Wednesday in the ritzy Swiss ski community of Davos about how extravagant executive pay packages have gone too far. In his comments at this week’s World Economic Forum, Nicolai […]
The 1980s was the blueprint for the upcoming disinflation cycle and these are the stocks for it, strategists say
Stocks are setting up for a third straight losing session after data sparked fears that the economy is losing steam, while the Fed pushes on with interest rate hikes. Or as CNBC commentator Ron Insana put it:On that front, our call of the day from Jefferies tackles that idea. “Disinflation is a key assumption for […]
Afraid of a recession and not ready to retire? Do this.
With talks of company layoffs and a possible recession, it’s prudent for older Americans who aren’t quite ready to retire to have a backup plan. Retirement Tip of the Week: Look over your resume, go through your list of contacts, brush up on any skills you need for your job and pretend you’re applying for […]
New Zealand Prime Minister Jacinda Ardern steps down: ‘I no longer have enough in the tank’
““I know what this job takes, and I know that I no longer have enough in the tank to do it justice. It is that simple.”” Those are the words of New Zealand Prime Minister Jacinda Ardern, who has announced she will not seek another term and will step down from her office by Feb. […]
Citigroup’s Jane Fraser is fine with remote work — as long as employees stay productive
Shape up or ship into the office. That was essentially the message Citigroup Inc. Chief Executive Jane Fraser had Tuesday for employees who slack off while working from home. While Citigroup C, -1.75% has been an outlier among Wall Street banks, offering a more flexible hybrid work schedule than most of its peers, that flexibility […]