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“‘Fired even before I started’” A new hire impacted by Coinbase’s decision to rescind some job offers this week and freeze hiring said he was blindsided by the move. “I was fired even before I started with the company,” the worker, whose identity was not revealed, told Business Insider. Coinbase cited “current market conditions and ongoing…
“OnlyFans models, sex workers feel pinch of sluggish economy” The plunging economy has been hard on one particular sector — sex workers who say that decades-high inflation has forced their clients to cut back on discretionary spending. Allie Rae, a 38-year-old Massachusetts woman who left her $84,000-a-year nursing job to earn a monthly six-figure income…
“‘Lots of luck on his trip to the Moon’” President Joe Biden took a dismissive jab at Elon Musk over reports that the mogul has a “super bad feeling” about the American economy. “Lots of luck on his trip to the moon,” a sarcastic Biden said at a press conference Friday when asked about Musk’s…
“Bank of America’s Brian Moynihan downplays Jamie Dimon’s ‘hurricane’ warning” Bank of America CEO Brian Moynihan downplayed dire forecasts about the state of the US economy this week even as a fellow bank boss, JPMorgan Chase’s Jamie Dimon, warned of a looming “hurricane” for investors. Moynihan delivered his own outlook for the economy at the…
“US economy added robust 390,000 jobs in May despite inflation, recession fears” US employers added a healthy 390,000 jobs in May, extending a streak of solid hiring that has bolstered an economy under pressure from high inflation and interest rates. Last month’s gain reflects a still-healthy job market despite concerns that the economy will weaken…
“JPMorgan CEO Jamie Dimon warns an economic ‘hurricane’ is coming” JPMorgan Chase boss Jamie Dimon urged investors Wednesday to prepare themselves for turbulence in the market in the weeks ahead – warning that extraordinary financial circumstances were creating a potential “hurricane” for the economy. Dimon, the head of the largest US bank, said factors such…
“Fox anchors confront Biden adviser Gene Sperling over inflation” One of President Biden’s top economic officials grew agitated on Tuesday during a heated spat in which Fox News anchors Sandra Smith and John Roberts pressed for an explanation of why the administration has been unable to cool the inflation slamming US household budgets. The disagreement…
“Movie theaters have popcorn, candy shortages over inflation” Moviegoers flocking back to the cinema this summer after pandemic-induced lockdowns will have to contend with another potential off-screen drama — a shortage of popcorn, candy, soda, and other snacks. Inflation, a tight labor market, and supply chain disruptions are adversely impacting the availability of food and…
“Key inflation gauge slows to still-high 6.3% in April” An inflation gauge closely tracked by the Federal Reserve rose 6.3% in April from a year earlier, the first slowdown since November 2020 and a sign that high prices may finally be moderating, at least for now. The inflation figure the Commerce Department reported Friday was below the…
“Elon Musk welcomes recession: ‘Bankruptcies need to happen’” Elon Musk believes it would be beneficial for the US economy to go into a recession and that “some bankruptcies need to happen.” Tesla’s billionaire boss said that the domestic economy is in for a “rude awakening.” He also said that working from home has made Americans…