WASHINGTON—Prices for online goods in the United States fell at a nearly 2 percent annual pace in November, the fastest decline since the onset of the COVID-19 pandemic and a sign that one important aspect of overall inflation continues to slow. The month-to-month decline in the Adobe Digital Price Index, a measure of online shopping…
US Online Goods Prices Fall in Positive Sign for Fed: Adobe
December 8, 2022
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AdobeBusiness & MarketsCompanieseconomic policieseconomyGold and CommoditiesgoodsinflationMarketsonlinerecessionUSUS News
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Stocks Open Higher on Wall Street but Remain Lower for Week
NEW YORK—Stocks are opening modestly higher on Wall Street, but remain lower for the week after five straight losses. The S&P 500 was up 0.2 percent in the early going Thursday and the tech-heavy Nasdaq was down 0.1 percent. The Dow Jones Industrial Average was up 0.5 percent. Energy companies were doing better than the…
Texas Issues Subpoena to BlackRock for Pushing ESG Agenda
December 8, 2022
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BlackRockBusiness & MarketsCompanieseconomic policieseconomyenvironmental social and governance (ESG) policiesESG investingstakeholder capitalismtexas subpoenaUS
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The Texas legislature has subpoenaed investment firm BlackRock, together with its subsidiaries and affiliate entities in the state, for documents related to the institution’s promotion of environmental, social, and governance (ESG) policies. The subpoena was issued by the Texas Senate Committee on State Affairs last month and asks the sergeant-at-arms for the committee or any…
Dollar Edges Up, Investors Weigh Outlooks for Rates and Economy
LONDON—The dollar edged up on Thursday, supported by a push higher in U.S. Treasury yields, as investors weighed the outlook for Federal Reserve policy against the chances that high interest rates could lead to a recession. Next week brings a raft of major central bank decisions, including those from the Federal Reserve, the European Central…
Oil Rebounds From 2022 Lows on China Demand Hopes, Tanker Delays
December 8, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil rebounded on Thursday after four sessions of decline, boosted by hopes that easing anti-COVID measures in China will revive demand and by signs that some tankers carrying Russian oil have been delayed after a G7 price cap came into effect. China on Wednesday announced the most sweeping changes to its resolute anti-COVID regime since…
World Shares Mixed Ahead of US Jobless, Inflation Data
December 8, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BANGKOK—Shares were mixed in Europe and Asia ahead of the release Thursday and Friday of U.S. jobless and inflation data. U.S. futures turned higher and oil prices rebounded. Investors are watching for data that may yield more insights into inflation’s path ahead and how the Fed will continue fighting high prices. The U.S. will release…
NYC Bill Seeks to Make It Harder for Businesses to Fire Workers
December 8, 2022
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BusinessBusiness & Marketseconomic policieseconomyLocal NewsNew YorkNY NewsPolicies & ImpactsrecessionRegional-Local NewsUSUS News
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A New York City Democratic councilwoman has proposed a new law that would make it harder for all city employers to fire workers, requiring that they have a good reason to do so. City Council Member Tiffany Cabán introduced the bill, which she said will “establish protections against unfair and arbitrary firings for every worker in NYC”…
Nigeria Limits Weekly, Daily ATM Cash Withdrawals to Push Digital Currency Use
Nigeria is set to begin limiting cash withdrawals from ATMs to just $45 a day as the country moves toward its goal of becoming a cashless economy and embraces digital currency, including its own “eNaira” cash. In a letter (pdf) to all banks and other financial institutions sent on Dec. 6, Nigeria’s Central Bank said they must…
McDonald’s Franchisee Hit With Fine for Over 100 Child Labor Violations, Including Exceeding Time Restrictions
December 7, 2022
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Business & Marketschild laborCompanieseconomic policieseconomyEducation & Family NewsLocal NewsMcdonald'sRegional-Local NewsSocial IssuesUSUS News
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A McDonald’s franchisee in Pennsylvania was hit with a large fine for over a hundred child labor violations. Santonastasso Enterprises LLC, which operates out of the Pittsburgh area, was accused by the Department of Labor (DOL) for the alleged violations at their 13 locations on Dec. 5. The department DOL identified John and Kathleen Santonastasso as…
Bank of Canada Hints at End of Rate Hikes While Delivering Another Half-Point Increase
News Analysis OTTAWA—While the Bank of Canada likely raised interest rates more than consensus expectations, it clearly signalled that the Dec. 7 increase of 50 basis points—half a percentage point—may be the last of its current rate-hiking cycle, according to analysts. The central bank’s policy interest rate is now 4.25 percent, but language about future…
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