Category: Companies

New York Radio Broadcaster Laying Off 8 Percent of Employees

March 7, 2023
Business & MarketsCompanieseconomyNew YorkrecessionRegional & State NewsSiriusXM stationstaff layoffsState Newstech industryUS
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Satellite radio firm SiriusXM has announced a reduction in its employee count, in line with the overall trend among tech companies firing workers in the past few months. “After a review of our business, we have made the decision to reduce the size of our workforce by 475 roles, or 8 percent,” CEO Jennifer Witz…

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‘Pro-American, Optimistic, Pro-Business’: JP Morgan CEO on His Love for Florida and Texas

March 7, 2023
Business & MarketsCompanieseconomyFloridaJamie Dimonred statesRegional & State NewsState NewsTexasUS
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Jamie Dimon, CEO of JP Morgan Chase, expressed his choice of Florida and Texas for their pro-business approach, suggesting that other states have much to learn from these red states. “We’ve loved Florida. We’re growing in Florida left and right, you know, small businesses, large companies … I’ve forgot how many total employees we have…

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Wall Street Slips at Open as Investors Await Powell’s Testimony

March 7, 2023
Business & MarketsCompanieseconomic policieseconomyinflationMarketsrecessionstocksUS
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Wall Street’s main indexes opened marginally lower on Tuesday in cautious trading ahead of Federal Reserve Chair Jerome Powell’s testimony before Congress that could shed more light on the central bank’s interest rate hike plans. The Dow Jones Industrial Average fell 3.13 points, or 0.01 percent, at the open to 33,428.31. The S&P 500 opened…

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United Airlines Planes Strike Each Other on Runway at Boston’s Logan Airport, FAA Investigating

March 7, 2023
aircraftAirportBusiness & MarketsCaliforniaCompaniesFAARegional & State NewsSouthern CaliforniaState NewsUnited AirlinesUS
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The Federal Aviation Administration (FAA) is investigating the collision of two United Airlines planes on the runway at Boston’s Logan International Airport that occurred on March 6, the agency has said. According to the FDA, the two planes struck one another at the airport, but no injuries were reported. “As a tow tug was pushing it back…

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Bank of America CEO Sees US Technical Recession in 3rd Quarter

March 7, 2023
BofABusiness & MarketsCompanieseconomic policieseconomyinflationMarketsMoynihanrecessionUS
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SYDNEY—Bank of America Chief Executive Officer Brian Moynihan said on Tuesday the U.S. economy would reach a technical recession starting in the third quarter. Moynihan told The Financial Review’s Business Summit in Sydney a U.S. recession would not be deep and the bank forecast interest rates would start falling in the second quarter of 2024….

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Global Shares Mixed as Investors Watch Fed Moves, Inflation

March 7, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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TOKYO—Global shares were mixed in muted trading Tuesday as investors tried to digest a slew of economic data and awaited moves by the U.S. Federal Reserve. France’s CAC 40 fell 0.1 percent in early trading to 7,363.24. Germany’s DAX added nearly 0.1 percent to 15,659.63. Britain’s FTSE 100 edged up less than 0.1 percent to…

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USDA Proposes New Rule for ‘Product of USA’ Food Labels in Bid to Increase Transparency

March 7, 2023
Business & MarketsCompanieseconomic policieseconomyFood labelsgrocerymeatPolicies & Impactsproduct of USAtransparencyUSUS NewsUSDA
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The U.S. Department of Agriculture (USDA) is considering a new rule regarding requirements on “Product of USA” labels in an effort to increase consumer understanding of what the claim actually means. The proposed rule was announced on March 6 and would allow the voluntary label “Product of USA or “Made in the USA” claim to be used on meat,…

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USDA Proposes New Rule for ‘Product of USA’ Food Labels

March 7, 2023
Business & MarketsCompanieseconomic policieseconomyFood labelsgrocerymeatPolicies & Impactsproduct of USAtransparencyUSUS NewsUSDA
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The U.S. Department of Agriculture (USDA) is considering a new rule regarding requirements on “Product of USA” labels in an effort to increase consumer understanding of what the claim actually means. The proposed rule was announced on March 6 and would allow the voluntary label “Product of USA or “Made in the USA” claim to be used on meat,…

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Railroad Offers Temporary Help to Residents Impacted by Ohio Toxic Train Derailment

March 7, 2023
Business & MarketsCompaniesEast Palestine Train DerailmentEPANorfolk SouthernOhioPennsylvaniaRegional & State NewsRiver Valley OrganizingState NewsUSUS News
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As cleanup continues more than a month after one of its freight trains derailed in East Palestine, Norfolk Southern Railway said it will pay for residents who live within a mile of the accident site to temporarily relocate. “As soil work continues at Norfolk Southern’s derailment site, some residents close to the derailment site may…

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Tesla Cuts US Model S and Model X Prices Between 4 Percent and 9 Percent

March 7, 2023
Business & MarketsCompaniescutsElon Muskpricetesla
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Tesla Inc. has cut prices on its two most expensive electric vehicles in the United States, according to the company’s website, days after Chief Executive Elon Musk said recent price cuts on other models had stoked demand. The price cuts, Tesla’s fifth adjustment since the start of the year, ranged from 4 percent on the…

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