DIRS.INFO The most relevant business & tech news

☆ Actors delay potential strike against studios and streaming services, extending contract negotiations
▼ + stars: | 2023-06-30 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN —A union representing about 160,000 actors has put plans to go on strike against major studios and streaming services on hold. But that doesn’t mean that a strike will now be avoided, said Jonathan Handel, an entertainment lawyer and writer and author of a book on the 2007-08 writers strike, “Hollywood on Strike! Production of many movies and television shows have already been shut down by the current writers strike. An actors strike would bring most remaining productions to a halt, other than on some independent films not associated with studios. The actors union has not been on strike against television shows and movie productions since 1980.

Persons: “, ”, Fran Drescher, Drescher, Jonathan Handel, Blockbuster hadn’t, David Mumpower, Meryl Streep, Glenn Close, Jennifer Lawrence, Bob Odenkirk, Mark Ruffalo, Quinta Brunson, Rami Malek, you’ve, Charlize Theron, Joaquin Phoenix, Jamie Lee Curtis, Cobie Smulders, Pedro Pascal, Tom Nunan Organizations: New, New York CNN, American Federation of Television, Radio Artists, SAG, ”, Writers Guild of America, WGA, Hollywood, Guild of America, Blockbuster, Disney, Alliance, Motion Pictures, Television Producers, Apple, CBS, NBC Universal, Netflix, Paramount Global, Sony, CNN, Warner Bros ., AMPTP, UCLA School of Theater, Film, Television Locations: New York

☆ Actors poised to join writers on strike against studios and picket lines
▼ + stars: | 2023-06-30 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

Industry experts like Jonathan Handel, an entertainment lawyer and writer and author of a book on the 2007-08 writers strike, “Hollywood on Strike! Production of many movies and television shows have already been shutdown by the current writers strike. An actors strike would bring most remaining productions to a halt, other than on some independent films not associated with studios. There has been no visible progress in ending the writers strike since it started. This would be the first actors strike against television shows and movie productions since 1980.

Persons: Jonathan Handel, ”, Handel, Blockbuster hadn’t, David Mumpower, Fran Drescher, Meryl Streep, Glenn Close, Jennifer Lawrence, Bob Odenkirk, Mark Ruffalo, Quinta Brunson, Rami Malek, you’ve, Charlize Theron, Joaquin Phoenix, Jamie Lee Curtis, Cobie Smulders, Pedro Pascal, Interestingl, Drescher, “, “ It’s, Tom Nunan Organizations: New, New York CNN, Screen, American Federation of Television, Radio Artists, Writers Guild of America, Blockbuster, Disney, Alliance, Motion Pictures, Television Producers, Apple, CBS, NBC Universal, Netflix, Paramount Global, Sony, CNN, Warner Bros ., SAG, UCLA School of Theater, Film, Television Locations: New York

TORONTO/HONG KONG, June 29 (Reuters) - The Alberta government has ended a partnership with a Chinese private equity fund that targeted $10 billion to invest in the natural resources sector, a spokesperson for the Alberta entity told Reuters. The Alberta Industrial Heartland, a not for profit organization of the province of Alberta, and the Hong Kong-based private equity firm Can-China Global Resource Fund (CCGRF) had announced their partnership in 2016 to encourage investments across North America. "This partnership no longer exists," Karlee Conway Director Communications of the Alberta Industrial Heartland in an email response to Reuters. The lead investor of the fund was China's Export-Import Bank, Vancouver-based mining firm Hunter Dickinson and Swiss commodity trader Mercuria. This month, Canada froze ties with the China-led Asian Infrastructure Investment Bank (AIIB) as it launched a probe into allegations that the institution was dominated by the Chinese Communist Party.

Persons: Karlee, Hunter Dickinson, Meng Wanzhou, Divya Rajagopal, Xie Yu, Denny Thomas, Nick Zieminski Organizations: Reuters, The, The Alberta Industrial Heartland, China Global Resource Fund, Karlee Conway, Communications, Alberta Industrial Heartland, China's, Import Bank, MEC Advisory Ltd, EXIM Bank, CQ Energy, Ottawa, Huawei, Canadian, Exim Bank, Asian Infrastructure Investment Bank, Chinese Communist Party, Thomson Locations: TORONTO, HONG KONG, Alberta, The Alberta, Hong Kong, China, North America, Vancouver, Swiss, Canada, Calgary, Beijing, United States

☆ Fund manager makes bold call that oil prices will double, picks stocks to cash in
▼ + stars: | 2023-06-28 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Bill Smead, chief investment officer at Smead Capital Management, has a bold market call: that oil prices could soar more than 100% in the next few years. The group expects global oil demand to hit 110 million barrels a day in about 20 years , pushing the world's energy demand up by 23%. Others have also taken a bullish stance on oil prices over recent weeks. Nevertheless, it said: "We believe that, at some point in the coming weeks, market fundamentals will drive the oil market. Nuttall likes Cenovus Energy and MEG Energy .

Persons: Bill Smead, Smead, CNBC's, Brent, Eric Nuttall, Nuttall, Warren Buffett, – CNBC's Ying Shan Lee Organizations: Smead Capital Management, OPEC, Ninepoint Partners, Saudi, Rystad Energy, Energy, Fund, Occidental Petroleum, Devon Energy, Cenovus, MEG Energy Locations: United States, Saudi Arabia, Europe

☆ Angela Bassett and Mel Brooks Are Among Those to Receive Honorary Oscars
▼ + stars: | 2023-06-27 | by ( Kyle Buchanan | ) www.nytimes.com time to read: +1 min

Just a few months after Angela Bassett came close to clinching a supporting-actress Oscar for “Black Panther: Wakanda Forever,” she’ll become one of four Hollywood figures to receive an honorary Oscar at this year’s Governors Awards, the Academy of Motion Picture Arts and Sciences has announced. Also getting honorary Oscars will be the director Mel Brooks and the editor Carol Littleton, while the Sundance Institute’s Michelle Satter will be presented with the Jean Hersholt Humanitarian Award. The awards “honor four trailblazers who have transformed the film industry and inspired generations of filmmakers and movie fans,” the academy president Janet Yang said in a statement. Bassett, 64, was first nominated for playing Tina Turner in the biopic “What’s Love Got to Do With It,” and also starred in films like “How Stella Got Her Groove Back,” “Malcolm X” and “Boyz N the Hood.” Her awards-season run for Wakanda Forever” earlier this year netted her a Golden Globe, and though she lost the Oscar to “Everything Everywhere All at Once” supporting actress Jamie Lee Curtis, Bassett is still one of only four Black actresses to have received more than one Oscar nomination for acting.

Persons: Angela Bassett, Oscar, “, she’ll, Mel Brooks, Carol Littleton, Michelle Satter, Jean Hersholt, ”, Janet Yang, Bassett, Tina Turner, Stella, ” “ Malcolm X ”, Jamie Lee Curtis Organizations: Academy of Motion Picture Arts, Sciences, Sundance, Globe

☆ ‘The Bear’ Season 2 Puts a Little Optimism on the Menu
▼ + stars: | 2023-06-23 | by ( Tejal Rao | ) www.nytimes.com time to read: +1 min

There were flashbacks, in the first season of “The Bear,” of a toxic chef who trashed cooks on the line, telling them they’d be better off dead. But here the show seems keen to remind us that fine dining can work differently, and that wonderful people are still scattered throughout it. “The Bear” always blurred the lines between family and workplace in ways that felt both tender and menacing, and the most nightmarish kitchen scene takes place not in a professional kitchen, but at a Berzatto family Christmas at home a few years back, when Carmy’s brother Michael was still alive. Jamie Lee Curtis is devastating as their alcoholic mother who can’t get through cooking and serving a beautiful holiday dinner — an elaborate Feast of the Seven Fishes — without wringing guilt and shame from her children. Her inability to host offers a glimpse at what shaped the siblings and warped their relationships to cooking, but it’s also a razor-edged contrast to the cooks’ growing sense of hospitality as instinctual and deeply fulfilling.

Persons: Michael, Jamie Lee Curtis, can’t, it’s

The Defense... Read moreSEOUL, June 16 (Reuters) - South Korea has recovered from the sea part of a rocket used in North Korea's failed attempt to launch its first military satellite last month, the Joint Chiefs of Staff said on Friday. The announcement came about two weeks after North Korea unsuccessfully tried to launch its first spy satellite, with the booster and payload plunging into the sea. South Korea began retrieving debris shortly after the launch, and had already recovered smaller parts. Lee Choon-geun, a honorary research fellow at South Korea's Science and Technology Policy Institute, said the newly retrieved object appeared to be a fuel tank. On Friday, the U.S. guided-missile submarine USS Michigan arrived in South Korea for the first time since 2017 for joint special warfare exercises aimed at improving responses to North Korean threats, the South Korean navy said.

Persons: North Korea's, Lee Jong, Lee Choon, Chang Young, Chang, Soo, hyang Choi, Hyonhee Shin, Ed Davies, Gerry Doyle Organizations: South Korean, The Defense, Joint Chiefs, Staff, North, Korea's Defence, South Korea's Science, Technology Policy Institute, Korea Aerospace University, North Korean, Thomson Locations: Korea, South Korea, SEOUL, North, North Korea, United States, Seoul, Washington, Pyongyang, U.S, Michigan

☆ How audio startup PodCo is cashing in on Disney and Nickelodeon nostalgia with podcasts hosted by the stars of shows like 'Wizards of Waverly Place'
▼ + stars: | 2023-06-15 | by ( Reed Alexander | ) www.businessinsider.com time to read: +10 min

PodCo produces podcasts themed around Nickelodeon and Disney Channel shows from the past two decades. Since their debut, several PodCo shows have ranked among the top 10 television and film podcasts on platforms like Spotify and Apple Podcasts, according to Chartable. Along with the hosts, other big-name alums have made appearances on PodCo shows, which are also recorded on video and viewable on YouTube. So when he heard Carlson Romano and Rooney's idea, he leapt at the chance to bring the show back in a new form. Some have written to him personally to say the "Ned's" podcast is leaving them feeling less isolated in their own lives, he added.

Persons: Stevens, Christy Carlson Romano, Brendan Rooney, Kim, Ned Bigby, Harper Finkle, PodCo, Rooney, Krystal Eve, Carlson Romano, Ren Stevens, Jenna Fischer, Angela Kinsey, Selena Gomez, Jennifer Stone, David DeLuise, Stone, Lee Citron, Stone —, California —, —, it's, wouldn't, Alyson Stoner, Zack, Cody, Devon Werkheiser, Werkheiser, Scott Simock, PodCo's, Reed Alexander Organizations: Nickelodeon, Disney Channel, Wizards, Marine Corps, Columbia University, American Film Institute, Apple, PodCo, Edison Research, Triton, Intelligence, Disney, Paramount, Netflix, YouTube, Social, Spotify Locations: Waverly, Hollywood, NBC's, California, TikTok, Texas

☆ Check out the 15-slide pitch deck former Bose engineers and the founders of STAT Health used to raise $5 million for a tiny in-ear wearable to prevent fainting
▼ + stars: | 2023-06-13 | by ( Leena Rao | ) www.businessinsider.com time to read: +3 min

STAT Health sells an in-ear wearable that patients can use 24/7 to track blood flow. So when Lee's elderly father began having repeated fainting sessions, Lee turned to in-ear technology to help solve the problem. His brainchild is STAT Health, an 24/7 in-ear wearable that measures blood flow to the head to better understand symptoms such as dizziness, brain fog, headaches, fainting, and fatigue that occur while standing. STAT Health's in-ear wearable. The wearable was clinically tested at Johns Hopkins University and was shown to predict fainting in users minutes before it happens.

Persons: Long, Daniel Lee, Lee, Paul Jin Organizations: Health, J2 Ventures, BonAngels Venture Partners, STAT Health, Johns Hopkins University Locations: Bose

Rey Steve Mabiala and his wife, Liz Gouari, taking refuge at the Roberval emergency center after being ordered to evacuate Chibougamau, Quebec, as a fire approached. Of the more than 400 fires now burning in Canada, more than one-third are in Quebec, which has already registered its worst wildfire season on record. Credit... Carlos Osorio/Reuters“We are facing some unprecedented events, including droughts, accelerated fires and heat waves, and there will be more over time, especially forest fires,” Ms. Mohsin said. But perhaps most surprised were newcomers to Chibougamau, like Mr. Mabiala, from the Republic of Congo, who came to work in logging. “They were asking, “Oh, is there such a thing in Canada?’ ’’ Ms. Cabrera said.

Persons: Rey Steve Mabiala, Liz Gouari, Gouari, Mabiala, Prince Edward Island, ” Mr, “ It’s, ”, Josée Poitras, Tanzina Mohsin, Carlos Osorio, Ms, Mohsin, Poitras, “ I’ve, I’ve, Francis Côté, “, Chibougamau, Renaud Philippe, Côté, Guy Boisvert, Winters, Boisvert, Shirley, Jonathan Mattson, Mr, Mattson, Ruth Cabrera, Anna Huerte, —, Cabrera, Huerte Organizations: Wildfire, University of Toronto, ., Reuters, The New York Times, “, Credit Locations: Chibougamau, Quebec, Africa, Canada, North America, Republic of Congo, Prince, Nunavut, Fort Nelson, British Columbia, Toronto, Val, Montreal, Roberval, East Coast, United States, Philippines

☆ The stock market is headed for a critical week as investors brace for new inflation data and a key Fed meeting
▼ + stars: | 2023-06-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Next week is critical for the stock market as investors brace for CPI data and a Federal Reserve meeting. Fundstrat's Tom Lee said a low inflation reading could boost stocks as it would bolster a Fed pause in interest rate hikes. That would be a positive surprise because it would bolster the Fed's potential decision to pause interest rate hikes this month and in July. "If this plays out, the Fed's pause will morph into a data dependent mode, where the bar is raised for further [interest rate] hikes," Lee said. "We expect investors to see this as a green light for risky assets, which means equity investors will not be fighting the Fed."

Persons: Fundstrat's Tom Lee, Lee, —, Tom Lee Organizations: Federal Reserve, Service, Federal, CPI

☆ Roger Craig, Teacher of an Era-Defining Pitch, Is Dead at 93
▼ + stars: | 2023-06-04 | by ( Richard Goldstein | ) www.nytimes.com time to read: +2 min

After pitching in the Dodgers’ minor league system and serving in the Army, Craig made his debut with Brooklyn in July 1955. He pitched for the Dodgers again in the 1956 World Series, taking the loss in Game 3 of the seven-game series win for the Yankees. in shutouts, with four, as the Dodgers won their first pennant in Los Angeles. Craig pitched mostly in relief before he was chosen by the Mets as their No. The Mets traded Craig to the Cardinals before the 1964 season, and he won Game 4 of the World Series in relief as St. Louis beat the Yankees in seven games.

Persons: Mike Scioscia, Roger Lee Craig, John, Mamie Craig, Craig, Connie Mack, Hobie Landrith, Elio Chacon, Louis Organizations: Dodgers, Angels, Associated Press, North Carolina State University, Dodgers ’, Army, Brooklyn, Yankees, Philadelphia Phillies, Chicago White Sox, Mets, Houston, Cardinals, Cincinnati Reds, Phillies Locations: Durham, N.C, North, Los Angeles

☆ An Asiana Airlines passenger says he thought he was going to die when his flight's emergency door was opened mid-flight
▼ + stars: | 2023-05-30 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +2 min

A man who sat next to the person accused of opening a door on an Asiana Airlines flight feared for his life. Lee Yoon-Joon told South Korea's Yonhap News Agency that he wondered whether he would die. Lee Yoon-Joon spoke out about last week's in-flight incident to South Korea's Yonhap News Agency, saying that he "thought, am I going to die?" An Asiana Airlines representative told CNN that the flight was about 700 feet above the ground when the emergency exit door was opened, causing panic to ensue. An arrest warrant was issued by a South Korean court for the man suspected of opening up the door, according to Reuters.

☆ Robin Wagner, Visionary Set Designer of Broadway Hits, Dies at 89
▼ + stars: | 2023-05-30 | by ( Richard Sandomir | ) www.nytimes.com time to read: +1 min

Robin Wagner, the inventive Tony Award-winning set designer of more than 50 Broadway shows, including the 1978 musical “On the Twentieth Century,” in which a locomotive appeared to be racing toward the audience with the actress Imogene Coca strapped to the front of it, died on Monday at his home in New York City. His daughter Christie Wagner Lee confirmed the death but said she did not yet know the specific cause. She did not say in what borough he lived. Mr. Wagner designed sets on Broadway, Off Broadway and for regional theater, for operas and ballets, and, in 1975, for the Rolling Stones’ Tour of the Americas. His stage for those concerts was shaped like a six-pointed lotus flower that was raked upward to the back in a delicate curve.

Persons: Robin Wagner, Coca, Christie Wagner Lee, Wagner, Clive Barnes, ”, Christ, ” “ Young, Tony Kushner’s Organizations: Broadway, Americas, The New York Times Locations: New York City, The, America

☆ North Korea launches rocket likely connected to military spy satellite, South Korea says
▼ + stars: | 2023-05-30 | by ( ) www.cnbc.com time to read: +4 min

North Korea launched a purported rocket Wednesday, a day after the country announced a plan to put its first military spy satellite into orbit, South Korea's military said. It wasn't immediately clear whether a North Korean spy satellite would significantly bolster its defenses. Since the beginning of 2022, North Korea has conducted more than 100 missile tests, many of them involving nuclear-capable weapons targeting the U.S. mainland, South Korea and Japan. North Korea says its testing activities are self-defense measures meant to respond to expanded military drills between Washington and Seoul that it views as invasion rehearsals. U.S. and South Korean officials say their drills are defensive and they've bolstered them to cope with growing nuclear threats by North Korea.

Persons: Kim Jong Un, Kim Ju, Kim Il, Ri, Lee Choon Geun, Kim Organizations: North, Korean Central News Agency, Chiefs, Staff, North Korean, South Korea's Science, Technology Policy, U.S Locations: Pyongyang, North Korea, South Korea's, Seoul, Korea, United States, Korean, South Korea, Washington, Japan

Mr. Vines, who now works out of a storefront in Fountain, N.C., grew up on a plantation in nearby Greene County during the Jim Crow era, working alongside his mother in the fields for meager wages. When he got older, he toured for a bit as a jazz musician. But the quest to recreate that one sound proved to be the animating force of his life. “These guitars here got a character and a sound of their own,” Mr. Vines said in a video accompanying his exhibition. “You’re going to get something really special and unique, like the opposite of a guitar you just buy off the rack.”

☆ Inside PodCo, the startup cashing in on Nickelodeon and Disney nostalgia, drawing hundreds of thousands of listeners, and scoring brand deals with stars of shows like 'Wizards of Waverly Place'
▼ + stars: | 2023-05-18 | by ( Reed Alexander | ) www.businessinsider.com time to read: +10 min

"Even Stevens" star Christy Carlson Romano and her husband, Brendan Rooney, founded the startup. Since their debut, several PodCo shows have ranked among the top 10 television and film podcasts on platforms like Apple Podcasts, according to Chartable. Along with the hosts, other big-name alums have made appearances on PodCo shows, which are also recorded on video and viewable on YouTube. So when he heard Carlson Romano and Rooney's idea, he leapt at the chance to bring the show back in a new form. Some have written into him personally to say the "Ned's" podcast is leaving them feeling less isolated in their own lives, he added.

☆ Fact Check-Image of Ron DeSantis in burger restaurant captured in May 2020
▼ + stars: | 2023-05-15 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

An image of Florida governor Ron DeSantis sitting across from former vice president Mike Pence in a burger restaurant was captured in May 2020 when COVID-19 restrictions and social distancing measures in restaurants were still in place. Some shared the image of Pence sitting across from DeSantis with the false claim that it was captured ahead of former president Donald Trump’s rally in Iowa on May 14 (here). IOWA — Just ahead of Trump’s rally, Florida Governor Ron DeSantis and Mike Pence sit down to eat in the same state” (here). DeSantis lifted all remaining COVID-19 restrictions on restaurants in September 2020, months after the image of DeSantis and Pence was captured (here). The image of Pence and DeSantis dates to May 2020.

☆ South Korea lifts power prices by 5.3% in delayed move
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +2 min

It is the second increase in power prices this year after a sharper 9.5% hike that took effect at the beginning of the year. The price adjustment had been due on April 1 but was delayed after a public outcry about the increased cost of living. Korea Electric Power Corp (KEPCO), the state-run electricity powerhouse, suffered an operating loss of 6.2 trillion won ($4.69 billion) for the first quarter after a huge 32.6 trillion won loss for the whole of last year. The ministry also announced a 5.3% increase in city gas prices for households. With parliamentary elections some 11 months away, the latest opinion poll by Gallup Korea showed last Friday the disapproval rating on President Yoon stood at 59%, far outpacing the approval rating of 35%.

☆ Taiwan's wind industry braves cross-strait risks in clean energy boom
▼ + stars: | 2023-05-10 | by ( Sarah Wu | ) www.reuters.com time to read: +8 min

With large swathes of Taiwan's territorial waters restricted due to defense, shipping and other uses, offshore wind developers will soon run out of space. It's a question of whether you want to pay the price," insurance broker Clive Lin told offshore wind developers in a packed lecture hall in Taipei. Political risk insurance is typically not covered in mainstream insurance policies, so developers have to buy it additionally. The risk of a military confrontation and its impact on Taiwan's wind farms are hard to quantify, analysts say. "In a kinetic conflict invasion, Taiwan's going to have so many other problems, offshore wind is going to be way down on the list," Cancian said.

☆ Jamie Lee Curtis and Lindsay Lohan Talk ‘Freaky Friday’ at 20
▼ + stars: | 2023-05-10 | by ( Nadine Zylberberg | ) www.nytimes.com time to read: +2 min

LINDSAY LOHAN When you get to work with such great actors, it really affects your performance. LOHAN As an 11-year-old, “The Parent Trap” [1998] felt so big to me. I put [the colorist] Tracy Cunningham through hell because I took my nice red hair and just bleached it. CURTIS We met in an office, did the read-through, and it was game on in a big way. If you look at “The Parent Trap,” she has a facility as an actor that is really impressive.

☆ US Women's Open: Nine-year-old Brazilian Bella Simoes becomes youngest ever to attempt qualification
▼ + stars: | 2023-05-10 | by ( Jack Bantock | ) edition.cnn.com time to read: +7 min

At nine years old, the Brazilian is the youngest player ever to attempt qualification to the tournament, set to tee off at California’s acclaimed Pebble Beach course for the first time in its 78-year history in July. Follow along @FSGA ➡️ https://t.co/622czXdhXk pic.twitter.com/4aYolLLL21 — U.S. Women's Open (USGA) (@uswomensopen) May 9, 2023Yet that should come as no surprise given Simões’ already-impressive résumé. Aged 14 in 2004, she bested many of the world's top men's players' and major winners at the Sony Open (pictured) despite narrowly missing the cut. The Brazilian shot 23-over par, as two players – Lindy Duncan and Brooke Matthews – secured automatic qualification with scores of 10-under and 8-under respectively. Kimberly Williams, a 60-year-old pro from Bethesda, Maryland, was the oldest player to attempt qualification this year, according to the USGA.

☆ Warren Buffett's Berkshire Hathaway just hosted its legendary annual investor weekend. Here's what to know.
▼ + stars: | 2023-05-08 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Before we get to the news, we've got a dispatch from Theron — our in-house Warren Buffett expert — on the legendary conference. That's how Todd Finkle, the author of a new biography on Buffett, described the investor's yearly bash. There were also investment panels, cocktail parties, steak dinners, fun runs, and shopping events during the weekend. The stock market could become "untouchable" if the bank crisis keeps spiraling. Four of the world's top investors agree on the biggest risks that will cause the next recession.

☆ One firm lists 3 reasons why it thinks the Fed will deliver its final rate hike today, and what that means for the stock market
▼ + stars: | 2023-05-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The Fed is poised to hike interest rates today for the last time in the current cycle, according to Fundstrat. That's because inflation has declined, the labor market is softening, and financial stability risks have increased. Stocks have historically performed well after the Fed implemented its last interest rate hike. "The constellation of data is already pointing to a softening of labor market demand, jobs itself and eventually wages. And if inflation continues to decline, that should give the Fed ample breathing room to pause further interest rate hikes.

☆ The Fed is about to end rate hikes with inflation set to plunge as high-income earners file for unemployment benefits at a record pace
▼ + stars: | 2023-04-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The Federal Reserve is about to end its interest rate hikes as wage growth is set to weaken, according to Fundstrat. The research firm expects a 25-basis-point rate hike in May and then a pause with inflation set to plunge. Fundstrat observed that Americans making more than $200,000 have filed for unemployment benefits at a record pace. The surge in unemployment claims for high-income earners comes after a slew of layoffs at mega-cap tech companies in recent months, including Meta, Amazon, and Alphabet, among others. Also supporting the Fed's potential decision to pause interest rate hikes after the May FOMC meeting is the turmoil seen in regional banks, which has led to tightening lending standards across the banking industry.

Search resuls for: "Lee C"

25 mentions found