Commentary The Federal Open Market Committee has just commenced its latest meeting to set monetary policy. Everyone, their dog, and even the fleas on those dogs expect the central bank to notably ratchet up their inflation-fighting efforts come May 4 around 2:00 p.m. ET. Specifically, this will come in the form of 1) a 50-basis…
Job Interest in Twitter Rises More Than 260 Percent After Elon Musk’s Takeover Deal
Since Twitter’s Board of Directors accepted Elon Musk’s offer to buy the social media platform, interest in employment opportunities at the tech firm has accelerated, new data shows. In the week of Apr. 24, interest in Twitter job openings on Glassdoor surged 263 percent, according to Daniel Zhao, a senior economist and data scientist at…
April Jobs Headline Is Good, But Deeper Dive Disconcerting
May 6, 2022
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AnalysisBusiness & EconomyBusiness ColumnistseconomyFederal Reserveinflationjobsjobs creationOpinionUncategorized
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April jobs printed at 428,000 new jobs, above the consensus estimate of 380,000. The unemployment rate was 3.6 percent. The Labor Participation Rate was just 62.2 percent, down 20 basis points (bps, or 1/100th of a percentage point) from last month. February and March jobs were revised downward by 39,000 net jobs. The U6, which…
Wall Street Bonuses Could Drop by 40 Percent in 2022: Analyst
May 6, 2022
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Business & EconomyCompanieseconomyEmployee BonusesExecutives Bonuseshigh inflationMarketsunderwritersUSUS NewsWall Street
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Wall Street bankers may be disappointed in 2022 as big financial firms are expected to cut bonuses by as much as 40 percent due to a fall in bank profits, according to predictions by Alan Johnson of compensation consulting firm Johnson Associates. In a May 5 report (pdf), Johnson explained that investment and commercial banking…
Shell CEO Warns About Impossibility of Tracing Refined Russian Oil
May 6, 2022
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Business & EconomycommoditiesCompaniesEuropeeuropean sanctions on russiaMarketsRussian Oil BanRussian Oil TradeShell OilWorld
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Even though the West is taking every measure to limit the use of Russian oil in their regions, it may be difficult to enforce these sanctions absolutely due to the impossibility of tracing Russian oil refined and resold by other nations, according to a major oil executive. During a first quarter webcast with reporters on…
A Recession Is on the Horizon
Commentary The recent disappointing report on the gross domestic product (GDP) may reflect statistical particulars more than the immediate onset of a recession. But the real thing nonetheless lies on the horizon, probably in the next 18–24 months. Inflationary pressures are the culprit. They make recession all but inevitable. The downturn will arrive in one…
Elon Musk Denies He Communicated With Trump Over Twitter Takeover Bid
The world’s richest person, Elon Musk, denied a report that he communicated with former President Donald Trump regarding his purchase of Twitter, with the CEO of Trump’s Truth Social platform saying media outlets misreported his statements. In response to a New York Post article published Friday, Musk wrote on Twitter that a claim that he…
Poilievre Takes Aim at ‘Woke Capitalism’ at Private Markets Conference
In a speech at an annual conference for financial markets professionals, Pierre Poilievre told attendees that private companies are less susceptible to “woke capitalism” than public entities, while criticizing those he described as “self-serving elites.” The federal Conservative leadership candidate made the comments as he delivered the opening keynote on May 5 at the Private…
Boeing Leaves Chicago as City Struggles With Crime, Other Problems
Boeing said it is moving its headquarters from Chicago though it will still maintain a “strong” presence in the city, whose reputation as a major hub that welcomes corporations and their staff stands in contrast to a recent upsurge in crime. The plane-making giant said in a May 5 statement that it will relocate its…
UK House Prices Rising Sharply but Growth Expected to Slow
House prices in the UK continued to rise sharply in April, but experts warn the boom may soon be over amid increasing pressure on household finances. The average UK house price increased by 1.1 percent or £3,078 ($3,801) last month, marking the longest run of monthly rises since 2016, according to the Halifax House Price…
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