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Tag: cuts

Inflation, incomes rose in January as Fed weighs rate cuts

Inflation and personal incomes rose in January, according to federal data released Thursday, another sign of economic strength that could delay a long-anticipated interest rate cut. The personal consumption expenditure (PCE) price index, the Federal Reserve’s preferred measure of inflation, rose 0.3% in January and has risen 2.4% over the past 12 months. Despite the […]

Sony cuts 900 jobs from PlayStation division in latest tech culling

Gaming company Sony announced Tuesday it would cut 900 jobs from its PlayStation division, becoming the latest tech giant to lay off some of its employees. Sony Interactive Entertainment (SIE) President and CEO Jim Ryan announced the dismissal A Tuesday email to PlayStation employees said the cuts amounted to 8% across the company’s locations around […]

The Fed holds firm: No rate cuts despite economic woes

Wall Street investors and economic analysts have been reacting enthusiastically to every possible signal that the Federal Reserve will soon declare defeat for inflation and stop tightening the money supply. Although Joe Biden and his allies constantly insist that the economy is in very good shape as it stands, the Biden administration wants to cut […]

Comptroller Tom DiNapoli cuts NY pension investment in more oil, gas stocks – Newsday

ALBANY — State Comptroller Thomas DiNapoli will cut the state pension fund’s direct investments in eight more oil and gas companies, including ExxonMobil, as part of a plan to fight global warming through Wall Street. DiNapoli argues that investing in oil and gas companies, even blue-chip stocks like ExxonMobil, poses long-term risks for investors. Because […]

Jobless Claims Plunge To 201,000, Creating Further Doubts About Rate Cuts

So much for the idea that January’s surge in employment was an anomaly in a cooling labor market. The number of people who applied for unemployment benefits for the first time in mid-February was 201,000, down from 213,000 the previous week. Economists had expected a slight increase to 216,000. Filing for unemployment insurance is a […]

Trump tax cuts on the line in 2024 election

Trump’s 2017 tax cuts are being contested in this year’s election, with Republicans hoping for an overwhelming majority in Congress and the White House to approve an extension of the former president’s signature law. Democrats opposed the law when Trump was in office, but have supported extending certain tax breaks, including lower rates for people […]

Ford cuts prices of electric Mustang Mach-E by up to $8,100

FOX Business’ Jeff Flock reports from the Celebrity Ford dealership in Toms River, where electric F-150s aren’t zipping away fast enough. Ford Motor Co. said Tuesday it has cut the price of its Mustang Mach-E electric SUV by up to $8,100 after sales plummeted in January. The lowest-priced Mach-E version of the 2023 model year […]

Bayer cuts dividend by 95% amid wave of litigation involving Roundup weed killer

Bayer announces plans to cut dividend by a staggering 95% over the next three years as it seeks to recoup debts from its acquisition of Monsanto that put the German company at the center of multiple lawsuits over its Roundup herbicide did. According to the company, the dividend cut was expected bloombergsaid the cuts highlight […]