Business

Google offers concessions to avoid U.S. antitrust lawsuit, WSJ reports

Alphabet Inc’s (GOOGL.O) Google has offered concessions to avoid a potential U.S. antitrust lawsuit alleging that the company abuses its clout in the advertising technology business, the Wall Street Journal reported on Friday, citing people familiar with the matter. Google has proposed spinning off parts of its business that auctions and places ads on websites […]

Business

Recession? What recession? Just don’t quit before lunch!

Jay Baker is not worried about a recession. He worries about whether his new workers will keep leaving before the end of their first shift. The chief executive of Jamestown Plastics Inc, which operates a 100-worker plastics factory in western New York state, said before the pandemic he could usually get all the extra hands […]

Business

Investors anxious about a recession look to U.S. companies for guidance

As U.S. companies open their books on the second quarter in the coming weeks, investors increasingly worried about a recession will be anxious to hear what executives say about how demand is holding up in the face of higher costs. Concerns over a possible recession have already driven a sharp selloff in stocks that resulted […]

Business

Elon Musk plans to ‘significantly’ increase childcare benefits at his firms

Billionaire entrepreneur Elon Musk said on Friday he planned to “significantly” increase childcare benefits at his companies, including Tesla Inc (TSLA.O), and that the details likely would be announced next month. His comments came a day after Musk tweeted that he will do his best to help what he called “the underpopulation crisis,” following a […]

Business

Strong U.S. jobs report does little to ease nerves on Wall Street

A better-than-expected U.S. jobs report eased some worries about an imminent recession but also bolstered the case for the Federal Reserve to continue aggressively hiking rates, threatening more turbulence for asset prices this year. Hopes that a weakening economy could push the Fed to slow or stop its rate hikes earlier than previously expected have […]

Business

U.S. dollar flat in choppy trading after payrolls beat expectations

The U.S. dollar was little changed against a basket of currencies on Friday ahead of the weekend following a choppy session that saw the greenback posting both gains and losses after data showed the world’s largest economy created more jobs than expected in June. The report cemented expectations of another 75 basis-point hike at the […]

Business

U.S. consumer credit growth slows considerably in May

U.S. consumer credit rose at its slowest pace in four months in May as Americans pulled back on credit card usage, a trend that if sustained, could hamper consumer spending amid growing recession fears. Total consumer credit increased by $22.35 billion, the smallest since January, after rising by a downwardly revised $36.76 billion in April, […]