Hershey announces job cuts after high cocoa costs hurt candy sales
Hershey announced layoffs Thursday, reporting a hit to its quarterly profit as soaring cocoa prices and inflation-weary shoppers refrained from buying the company’s expensive chocolate and candy. The Pennsylvania-based company announced it will cut 5% of its workforce, resulting in up to $60 million in severance pay. It was not immediately clear how many jobs […]
Conservatives plot new Israel aid plan with spending cuts after Johnson bill goes down in flames
First appearance on Fox: House conservatives on Tuesday night rejected a “clean” bill that would have provided funding to allies in the Middle East, seeking ways to send aid to Israel while cutting spending elsewhere. . Rep. Andy Biggs (R-Ariz.) has proposed a bill that would provide $17.6 billion in military and security assistance to […]
Minneapolis Fed president anticipating two or three rate cuts in 2024
Minneapolis Fed President Kashkari said Wednesday that he expects the Fed to cut interest rates two to three times in 2024. “As I sit here today, a couple of cuts seem appropriate to me right now,” he said on CNBC’s “Squawk Box.” “But again, I’m not going to prejudge things, but this is just my […]
The Atlantic cuts ties with writer Yascha Mounk over rape accusations
The Atlantic magazine announced that it has severed ties with one of its prominent contributors after he was accused of raping another journalist nearly three years ago. Celeste Marcus, editor-in-chief of the cultural and political magazine “Liberties,” posted on her social media page “X” that German-born political scientist and author Yascha Mounk (41) was arrested […]
Trump blasts Powell as ‘political’ as Fed weighs rate cuts
Former President Trump has accused Federal Reserve Chairman Jerome Powell of being “political” and said the lifelong Republican could consider lowering interest rates to help Democrats in the 2024 election. suggested. “If we lower interest rates, we’ll probably do something to help the Democrats,” Trump said in an interview on Fox News Business Network’s “Morning […]
Biden administration demanding price cuts from grocery chains
President Biden’s administration has taken aim at grocery chains, sending out election-year proposals to lower prices on products ranging from milk to eggs to bread. “Our message is very clear, and the president will continue to lean into it. So if you’re a company that’s seeing input prices go down and you’re not passing those […]
Volvo cuts off Polestar funding despite fact it helped pioneer electric cars
Volvo said Thursday it has cut off funding for its electric vehicle subsidiary Polestar — despite the fact that it was one of the first automakers to embrace electric vehicles. Shares in the Swedish automaker soared more than 30% on Thursday as the company declared Volvo Cars was “committed to concentrating resources and developing an […]
Fed holds steady on interest rates, but outlook on when cuts will come remains cloudy
The Fed said it liked economic data but said it was too early to call for rate cuts. federal reserve system announced a widely anticipated fourth interest rate suspension. At its January meeting on Wednesday, it kept the federal funds rate unchanged at 5.25% to 5.5%, its highest level in 22 years. The central bank […]
Jeremy Hunt suggests tax cuts in budget won’t match last year’s £20bn giveaway – UK politics live | Politics
Fed Says No To Imminent Rate Cuts
Fed counterattack of The Federal Reserve System Shocked On Wednesday, the central bank announced it would not cut rates until it was confident that inflation was heading toward 2%. The Fed said in a statement at the end of its two-day monetary policy meeting: “Until there is greater confidence that inflation is on a sustained […]