Multifamily projects lead to bigger-than-expected surge in residential construction
The pickup points to signs of budding optimism that the worst of the housing rout may be near.
Bloomberg News
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Fed’s battle plan for inflation shredded by financial turmoil
The worry is the collapse of SVB and Signature Bank are just the start of a longer list of casualties from the Fed’s shift to the highest rates since policymakers began slashing borrowing costs in 2007.
Mark Zuckerberg was warned about social media addiction, filing shows
Employees at Facebook parent Meta Platforms and TikTok developer ByteDance were aware of the harmful effects of their platforms on young children and teenagers but disregarded the information or in some cases sought to undermine it, court filings show.
Does daylight saving time result in lower energy bills?
The notion of keeping the lights off for longer has always been linked with daylight saving time. But more recently, research has emerged to challenge the DST premise.
Companies eye cutting benefits for working parents amid recession fears
Adoption and fertility-assistance programs were the perks companies said they were most likely to eliminate, while parental leave and child-care benefits were also on the chopping block.
‘Excuseflation’ helping prices—and corporate profits—remain high
A growing body of analysts and researchers see a pattern of companies using unusual disruptions as an excuse to raise prices for their goods and services, thereby allowing them to expand profit margins.
Three years after COVID arrived, restaurants still desperate for workers
Americans have been rushing back to restaurants after staying away during the pandemic. To catch that demand, chains are opening thousands of new locations. It has the makings of a boom, except for one glaring problem: there aren’t enough workers.
Millions more U.S. workers possibly self-employed than thought
The survey adds to evidence that informal work has been increasingly prevalent in the U.S. economy, a trend further exacerbated by the pandemic, social media and remote work.
Microsoft’s latest AI assistant aimed at marketers, customer reps, work apps
Microsoft, having brought artificial intelligence to its battle with Google over search, is now turning to the latest AI technology to catch up with rivals in the corporate applications market such as Oracle, Salesforce and SAP.
Fed says more rate hikes needed to curb inflation
U.S. central bankers are waging their most aggressive action against high inflation in a generation.
iPhone maker plans $700M India plant in shift from China
The investment is one of Foxconn’s biggest single outlays to date in India and underscores how China’s at risk of losing its status as the world’s largest producer of consumer electronics.
Carvana debt comes due with business ‘firmly in retreat’
The quarterly loss reported after the close Thursday caps a disastrous year in which Carvana’s stock plummeted 98%, erasing almost $37 billion of market capitalization. Carvana spent $2.2 billion last year to acquire Carmel-based KAR Auction Services Inc.’s physical auto auction business, ADESA.
World’s top PC maker warns of job cuts as slump persists
Lenovo Group Ltd.’s profit fell for the first time in almost three years on waning demand for personal computers following a pandemic-era work-from-home boom.
U.S. economy keeps charging ahead, adding pressure on Fed to hike
The U.S. economy showed remarkable resilience at the start of the year, highlighting robust demand that’s keeping inflation elevated and heaping pressure on the Federal Reserve to stomp the brakes even harder.
Worker burnout even worse than at peak of pandemic
The pain is particularly acute outside the U.S., where the burnout rate has been rising enough to offset slight improvements seen by American workers.
Tesla to open up a portion of its charging network to all EVs
The aim is to give EV owners more freedom to travel, and it will include at least 3,500 of Tesla’s Supercharger stations—which tend to be near highways—as well as its slower Level 2 “destination chargers” at locations such as hotels and restaurants.
Subway sandwich chain exploring sale after record-setting year
Subway, one of the most recognizable names in the industry, has more than 20,000 U.S. locations, making it the largest by store count in the country, dwarfing even McDonald’s.
Democrats seek tighter limit on stock buybacks in chip subsidies
The members of Congress want companies that accept money authorized by the Chips and Science Act to be restricted from engaging in stock buybacks for at least 10 years.
Apple avoids job cuts because it didn’t overhire like Google and Amazon
Many tech companies admit that they hired too much during the pandemic, betting that lifestyle changes—including remote work, e-commerce spending and video-game habits—would bring a bigger windfall. Now they’re dealing with the aftermath.
Bed Bath & Beyond plans share sale in bid to avoid bankruptcy
The retailer, which has been preparing for a Chapter 11 filing after lenders declared it in default last month, priced new convertible preferred securities and warrants, it said in a statement Tuesday, in a deal that will ultimately raise more than $1 billion.