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WEBTesla Reportedly Opts Out of Performance-Based Stock Incentives for Employees Amid Cost-Cutting Measures. Business Times is a digital global news publication that provides comprehensive coverage and analysis of the most important business, economic, financial, political and technological issues from China and around the world.
US Labor Market Holds Steady, But Strikes and Storm Loom as …
WEB1 day ago · Nonfarm payrolls are expected to increase by 140,000 in September, according to a survey by Reuters. This is slightly below August's gain of 142,000, as the labor market continues to cool in response to the Fed's earlier rate hikes. The unemployment rate is projected to hold steady at 4.2%, up from 3.4% in April, in part due to a surge in ...
Massive Ship Backlog Grows as U.S. Dockworkers Strike Threatens …
WEB1 day ago · The longest dockworker strike in nearly 50 years has entered its third day, triggering a rapidly growing backlog of ships and raising concerns about potential shortages of goods ranging from bananas to auto parts. The International Longshoremen's Association (ILA) launched a historic strike on Tuesday after labor talks broke down with the United …
Trump’s Desperate 'Criminal Efforts' to Overturn 2020 Election …
WEB1 day ago · Special Counsel Jack Smith has provided new, detailed allegations in a court filing on Wednesday, accusing former President Donald Trump of undertaking increasingly desperate efforts to overturn the results of the 2020 presidential election. The filing, made in response to the Supreme Court's July ruling on presidential immunity, outlines how ...
Chinese Stock Rally Triggers $7 Billion Loss for U.S. Short Sellers
WEB2 days ago · The recent rally in Chinese stocks, driven by Beijing's aggressive stimulus measures, has inflicted significant losses on traders who bet against U.S.-listed Chinese companies. According to a report by S3 Partners, short sellers have faced a staggering $6.9 billion in mark-to-market losses as Chinese equities have surged in recent weeks.
Fed Chair Powell Signals More Rate Cuts but Warns Against …
WEB3 days ago · Despite some positive signs, Powell's remarks made it clear that the Fed is prepared to act more aggressively if the economic outlook deteriorates. During the Q&A, Powell stated that while the base case for policy is a slower pace of rate cuts, the central bank will respond quickly if necessary. "We will do what it takes in terms of the speed ...
Boeing Strike Enters Third Week, No Contract in Sight as Workers …
WEB6 days ago · The machinists' union members will start receiving strike pay in the third week of the strike, with union members receiving $250 per week until a new contract is reached. Much of that strike pay comes from the IAM Grand Lodge, with an additional $50 provided by District 751. As federal mediation continues, Boeing workers have garnered support ...
U.S. Economy Surges at 3% Growth in Second Quarter Amid …
WEBSep 26, 2024 · The U.S. economy grew at an annualized rate of 3% in the second quarter of 2024, continuing its steady expansion in the face of high interest rates, according to the latest figures from the Bureau of Economic Analysis. The third estimate of second-quarter gross domestic product (GDP), released on Thursday, confirmed the earlier reading, …
Fed Cuts Interest Rates by Half Point Amid Growing Concerns …
WEBSep 19, 2024 · On Wednesday, the central bank slashed the federal funds rate by 50 basis points, bringing it to a range of 4.75% to 5%. This aggressive move marks the beginning of what could be a series of rate cuts aimed at stabilizing the economy amid growing concerns about slowing job growth and softening inflation. The rate cut, which impacts short-term ...
U.S. Imposes 100% Tariffs on Chinese Electric Vehicles Starting …
WEBSep 14, 2024 · The Biden administration on Friday confirmed substantial tariff increases on a range of Chinese imports, including a 100% duty on electric vehicles (EVs), in a strategic move to bolster domestic industries against China's state-supported production surge. The U.S. Trade Representative (USTR) announced that many of these tariffs will take effect …