Economic

White-collar layoffs soar at brand companies amid economic downturn

White-collar layoffs soar at brand companies amid economic downturn

Early in the pandemic, waves of layoffs hit retail, leisure and hospitality workers — anyone whose job depended on in-person interactions. But now that the pandemic has subsided, it’s those workers who are outnumbered and it’s the highest-paid employees who find themselves at the end of the layoff announcements. Among the branded companies that recently …

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Explosion of US debt financed by Americans, not foreign countries, posing risks to economic growth

Explosion of US debt financed by Americans, not foreign countries, posing risks to economic growth

Brian Brenberg, Fox News contributor and professor of economics at King’s College, reacts to the November ADP report. The explosion of US government borrowing over the past 15 years has been fueled not by loans from China and Japan, but by the purchase of Treasury bills by US financial institutions, state governments and other national …

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A man steps into the frame asking the photographer to stop making photos as men carry a coffin during a funeral, in Port-au-Prince, Haiti, on Oct. 21, 2022. (AP Photo/Ramon Espinosa)

Canada imposes new sanctions on Haiti’s economic elite

A man walks into frame asking the photographer to stop taking photos as men carry a coffin during a funeral, in Port-au-Prince, Haiti, October 21, 2022. (AP Photo/Ramon Espinosa) Ramon Espinosa PA WASHINGTON Canada on Monday unveiled a new round of sanctions against members of Haiti’s economic elite, accusing three high-profile figures of aiding armed …

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Amazon's cloud unit faces cost-sensitive customers as economic fears rise

Amazon’s cloud unit faces cost-sensitive customers as economic fears rise

Amazon Web Services has been its parent company’s biggest growth engine for most of the past decade, taking business with some of the world’s largest technology vendors. But as companies face the most discouraging economic environment since the 2008 financial crisis, those massive checks they send to AWS for their technology infrastructure are coming under …

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What China's zero-COVID issues mean for global economic growth

What China’s zero-COVID issues mean for global economic growth

China’s strict zero COVID policy has complicated the global economic recovery. The country tried to eliminate all cases of COVID-19, but three years later frequent shutdowns and strict quarantine guidelines led to food shortages, delayed health care and mental health issues. Ongoing citizen frustrations reached a boiling point on November 24, when protests erupted after …

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Remittances are a key economic stabilizer

Remittances are a key economic stabilizer

Text size In 2022, remittances to low- and middle-income countries are expected to reach $626 billion. Marvin Recinos/AFP/Getty Images About the Author: David Malpass is President of the World Bank Group. At a time when the world faces an extremely difficult outlook, remittances are a vital lifeline for households in developing countries, especially the poorest. …

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All of these economic and market outlooks for 2023, distilled

All of these economic and market outlooks for 2023, distilled

The problem with macroeconomic forecasts is that they are extremely complicated. It’s not just about drawing lines on a chart, as the chart below from Morgan Stanley illustrates: ©Morgan Stanley Yet even taking into account these many complexities, 2022 has been a difficult year to predict. Its outlier status can be demonstrated by this 322-year-old …

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A House committee will release a first-of-its-kind documentary on economic inequality

A House committee will release a first-of-its-kind documentary on economic inequality

Comment this story Comment A bipartisan House selection committee is set to release a documentary-style film, the first of its kind, about economic inequality in America, a modern historical record of three uniquely American stories members hope burst the political and partisan bubble around the issue by Washington. Speaker Jim Himes (D-Conn.), Appointed by House …

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