The Dow Jones Industrial Average fell Wednesday as Wall Street waded through new economic data and awaited an afternoon speech on the economy from Federal Reserve Chair Jerome Powell. The 30-stock index lost 226 points, or 0.7%. The S&P 500 shed 0.3%, while the Nasdaq Composite climbed 0.1%. Traders were hit with conflicting economic reports … Read more
US House Minority Leader Kevin McCarthy attends a meeting with US President Joe Biden (R) and other Congressional Leaders to discuss legislative priorities through the end of 2022, at the White House on November 29, 2022 in Washington, DC. Kevin Dietsch | Getty Images WASHINGTON — President Joe Biden hosted a rare meeting of the … Read more
The National Railway Labor Conference and The Brotherhood of Maintenance of Way Employees Division of the International Brotherhood of Teamsters (BMWED) are drawing their lines in the sand after President Joe Biden called on Congress to pass legislation that would enforce the attempted rail labor agreement. In a statement, the BMWED said pressing Congress to … Read more
BEIJING — Police beat workers protesting over a pay dispute at the biggest factory for Apple’s iPhone, whose new model is delayed by controls imposed as China tries to contain a surge in COVID-19 cases. foxconn 2354, +0.20%, the biggest contract assembler of smartphones and other electronics, is struggling to fill orders for the iPhone … Read more
Shipping containers sit at a railway facility waiting to be transferred. Scott Olson | Getty Images One of the largest rail labor unions, the Brotherhood of Locomotive Engineers and Trainmen (BLET), will honor the Brotherhood of Railroad Signalmen (BRS) strike date of December 5, the first date upon which a rail union to reject the … Read more
Customers at a McDonald’s restaurant Scott Mlyn | CNBC As the restaurant industry battles inflation, the large size of chains and their access to cash gives them the upper hand, but independents have advantages of their own when managing higher costs. Feeling the pressure on their budgets, consumers have been cutting back on their restaurant … Read more
The LGBTQ social networking platform Grindr puts on a public show outside of the New York Stock Exchange (NYSE) as the company goes public following its merger with special purpose acquisition company (SPAC) Tiga Acquisition Corp. on November 18, 2022 in New York City. Spencer Platt | Getty Images Traders, bank workers and tourists weren’t … Read more
Starbucks official reusable red cup, left, and red cup from Starbucks Workers United. Source: Starbucks; Starbucks Workers United Workers at more than 100 unionized Starbucks locations plan to strike on Thursday, one of the chain’s biggest sales days of the year. To celebrate the holiday season, Starbucks every year gives away reusable red cups bearing … Read more
disney plans to institute a targeted hiring freeze as well as some job cuts, according to an internal memo sent to executives. “We are limiting headcount additions through a targeted hiring freeze,” CEO Bob Chapek said in a memo to division leads sent Friday and obtained by CNBC. “Hiring for the small subset of the … Read more
Elon Musk’s photo is seen through a Twitter logo in this illustration taken October 28, 2022. Dado Ruvic | Reuters On Friday, Twitter‘s new owner Elon Musk sent a companywide email to employees of the social media giant thanking them for working long hours since he took over on Oct. 28. Musk said he had … Read more