DIRS.INFO The most relevant business & tech news

☆ Signs of a Weakening Job Market, in Five Charts
▼ + stars: | 2023-12-05 | by ( Austen Hufford | ) www.wsj.com time to read: 1 min

People waiting in line to speak with prospective employers during a career fair in Los Angeles last month. Photo: Frederic j. brown/Agence France-Presse/Getty ImagesThe hot labor market that underpinned a surprisingly strong economy this year is showing signs of cooling, an indication that growth could ease in 2024. The unemployment rate has edged higher this year, Americans are taking longer to find new jobs, and wage growth is slowing. New Labor Department data on job openings, to be released Tuesday, and Friday’s November jobs report could provide additional clues about if the historically tight labor market is starting to loosen.

Persons: Frederic Organizations: France, New Labor Department Locations: Los Angeles

☆ Tesla is selling a $55 Cybertruck decal inspired by Elon Musk's famous window smashing mishap
▼ + stars: | 2023-12-01 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Tesla is selling a $55 Cybertruck decal inspired by Elon Musk's infamous window smashing incident. "OMFG decal" references moment a Tesla engineer smashed the Cybertruck's windows with a steel ball. AdvertisementTesla is selling a Cybertruck decal inspired by the windows that famously smashed during a demonstration at the futuristic pickup's unveiling. Elon Musk was left red-faced after the Cybertruck's windows failed in a demonstration. That means it still remains unclear whether the Cybertruck's windows are actually as unbreakable as Musk initially suggested.

Persons: Tesla, Elon Musk's, —, Franz von Holzhausen, Elon Musk, Frederic J . Brown, Holzhausen, Austin — Organizations: Service, Elon Locations: Austin

☆ The Tesla Cybertruck Is Almost Here. What Will It Cost?
▼ + stars: | 2023-11-30 | by ( Rebecca Elliott | ) www.wsj.com time to read: 1 min

The launch of Tesla’s Cybertruck is one of the most anticipated electric-vehicle releases in history. Barclays analyst Dan Levy and AlixPartners’ Mark Wakefield weigh in on how Tesla’s first pickup could shake up the market. Photo: Frederic Brown/Getty ImagesAfter a two-year delay, Tesla is finally ready to start delivering its first Cybertruck pickups to customers. The big questions now for those who have endured the wait: How much will it cost and how far can it travel on a single battery charge?

Persons: Dan Levy, AlixPartners ’ Mark Wakefield, Frederic Brown, Tesla Organizations: Barclays

If there is a constant in the career of Kenny G, it’s found in his chase and appreciation for melodies. On Dec. 1, that hunt will result in “Innocence,” his latest album and a collection of lullabies — both familiar and new — arranged in an idiosyncratic Kenny G fashion. Political Cartoons View All 1274 ImagesThe title, “Innocence,” reflects the innocence of childhood, sure, but also the innocence of a lullaby — the sweet melodies we all share. Although Kenny G believes this album is “not just for kids.”On “Innocence,” next to familiar titles like “Rock-a-Bye Baby” and “Edelweiss” is a lesser-known cut from Polish composer Frédéric Chopin, “Nocturne Op. Asked if these songs will appear on his tour’s set list, Kenny G offers another joke: “I’m already accused of putting people to sleep with my music,” he says.

Persons: Kenny G, It’s, ”, “ It’s, it’s, Kenny, “ I’ve, I’ve, Frédéric Chopin, He’s, “ There’s, I’m Organizations: ANGELES, —, Associated Press

☆ New billionaire heirs overtake self-made ones as $5.2 trillion wealth transfer begins
▼ + stars: | 2023-11-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

“The great wealth transfer is gaining significant momentum as many billionaire entrepreneurs age,” Benjamin Cavalli, who oversees strategic clients in the global wealth management unit at UBS, told reporters. Their combined wealth rose 9% to $12 trillion, before taking inflation into account. Arnault is the world’s third-richest man, with a net worth of $167 billion, according to the Bloomberg Billionaires Index. Risks and opportunity for UBSThe “staggering” transfer of wealth to younger generations presents a huge opportunity for UBS, but also poses considerable risks, according to Cavalli. Heirs lean more toward impact investing — that is, socially or environmentally beneficial investing — over “classic grant-giving philanthropy,” Cavalli said.

Persons: “, ” Benjamin Cavalli, LVMH's Bernard Arnault, Helene, Frederic, Delphine, Antoine, Alexandre, Bernard Arnault, Arnault, Tesla’s Elon Musk, Jeff Bezos —, —, India’s Gautam Adani, Mukesh Ambani, Cavalli, ”, Morgan Stanley —, Stefan Wermuth, ” Cavalli, Charlie Munger, Henry E Organizations: London CNN, UBS, Bloomberg, Adani Group, Reliance Industries, Suisse, Getty, ”, Berkshire Hathaway, Huntington Library, Art Locations: Paris, Europe, France

☆ An investing legend dies
▼ + stars: | 2023-11-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

AdvertisementIn today's big story, we're looking back on the life of investing legend Charlie Munger. What's on deck:But first, remembering Charlie Munger. AdvertisementCharlie Munger, the billionaire investing legend who led Berkshire Hathaway alongside Warren Buffett, died Tuesday at age 99. Despite being overshadowed by Buffett, Munger wasn't afraid to share his opinion. Speakers include Vice President Kamala Harris, President of Taiwan Tsai Ing-wen, Elon Musk, Bob Iger, Jamie Dimon, Lina Khan, Shonda Rhimes, and other major execs.

Persons: Charlie Munger, Charlie Munger Johannes Eisele, Berkshire Hathaway, Warren Buffett, Munger, I'm, Buffett, Munger's, they'd, Charles Platiau, Frederic J . Brown, Chelsea Jia Feng, Wall, Peacock, Kamala Harris, Taiwan Tsai Ing, Elon Musk, Bob Iger, Jamie Dimon, Lina Khan, Shonda Rhimes, Costco Monica Humphries, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Getty, Berkshire, Berkshire Hathaway, SevenSix Agency, Delta Air Lines, Toyota, Gucci, Google, Wall, Rockefeller, NBC, The New York Times, Taiwan, Costco Locations: Wisconsin, What's, AFP, California, Omaha, Omaha , Nebraska, Berkshire, Charles, Kensington, Chelsea, New York City, San Diego, London, New York

☆ As global rates turn, banks in India and Indonesia set to win
▼ + stars: | 2023-11-29 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Loan growth at Asian banks is estimated to rise from 4.5% this year to 10% next year, LSEG data shows, with banks in India and Indonesia leading with 15% and 11% growth, respectively. Ng likes banks in India and Indonesia, given the better economic growth in those economies and ability of banks to sustain margins. LSEG data shows profits at banks in India and Indonesia will grow 13% and 11% respectively next year, nearly double the 6% average rise across Asia-Pacific banks. That compares to price-to-book ratio for MSCI's index for all-country Asian banks (.dMIAS0CB00PUS) of 0.9. Banks in Australia are estimated to see a drop of 5% in profit in 2024 while profits at Singapore banks will be flat.

Persons: Frederic Neumann, Neumann, Morgan, Yao Ng, abrdn, Ng, Vinay Agarwal, Agarwal, Morgan Stanley, Ankur Banerjee, Gaurav Dogra, Patturaja, Vidya Ranganathan, Simon Cameron, Moore Organizations: U.S . Federal, Fed, HSBC, ICICI, Kotak Mahindra Bank, Axis Bank, FSSA Investment Management, Indonesia's Bank Central Asia, BCA, Reuters, Thomson Locations: SINGAPORE, India, Indonesia, Thailand, Asia, Japan, J.P, Pacific, Singapore, Hong Kong, South Korea, Banks, Australia, China, Bengaluru

☆ Elon Musk says the Tesla Cybertruck will be bulletproof. That remains to be seen.
▼ + stars: | 2023-11-24 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Elon Musk says the Cybertruck will be bulletproof, boasting that Tesla shot it up with a Tommy gun. Deliveries are set to start next week, with Musk warning that Tesla faces big production challenges. AdvertisementElon Musk has long claimed the Cybertruck will be bulletproof, saying he wants the futuristic pickup to be "really tough — not fake tough." As the Cybertruck's launch date nears, though, it still remains unclear just how bulletproof it is going to be. AdvertisementThis "armor glass" won't be able to stop a bullet — but Musk's said that Tesla will offer the option to buy a "beast mode" Cybertruck with properly bulletproof windows.

Persons: Elon Musk, Tesla, —, Musk's, Musk, Frederic J . Brown, Al Capone, Critics, Tommy Organizations: Service, Auto, Business

☆ Soaring hotel prices, crackdown on illegal renting to hit Paris 2024 experience
▼ + stars: | 2023-11-20 | by ( Julien Pretot | ) www.reuters.com time to read: +3 min

REUTERS/Stephane Mahe/File Photo Acquire Licensing RightsPARIS, Nov 20 (Reuters) - Visitors heading to Paris for next year's Olympics face major accommodation problems amid soaring hotel prices and a crackdown on rentals of tourist apartments. A report by the Paris tourism office showed that hotel prices would rise by a whopping 314% between the 2023 and 2024 summers. The report also hit out at the Paris hotels for waiting too long to open their booking platforms for the July 26 - Aug. 11 Games. According to the Paris Tourism office, a hotel night in the Paris region was 169 euros in July 2023, and it is expected to soar up to 699 euros in July 2024. "At the London Games, the prices were too high and the occupation rate of hotels went 12% down.

Persons: Guy Degrenne, Stephane Mahe, Frederic Hocquard, Hocquard, Jacques Baudrier, Baudrier, Bruno Le Maire, Julien Pretot, Pritha Sarkar Organizations: Paris, Paralympic Games, ArcelorMittal, REUTERS, Rights, Reuters, Paris Tourism, London Games, French Finance, Thomson Locations: Vire, France, Paris, Nantes, Lille, Rennes

☆ NHL roundup: Down by three goals, Avs score 6 to top Stars
▼ + stars: | 2023-11-19 | by ( ) www.reuters.com time to read: +9 min

Tyler Seguin scored twice and Joe Pavelski had a goal as Dallas built a 3-0 lead, only to see Colorado six unanswered goals. Predators 4, Blackhawks 2Cole Smith scored two goals to help Nashville end a four-game losing streak with a win against visiting Chicago. The Oilers' Derek Ryan scored his first two goals this season, and James Hamblin and Evan Bouchard (200th NHL game) hit the net. Columbus' Johnny Gaudreau celebrated playing in his 700th career game by scoring a goal early in the second period. Kris Letang picked up his 700th career point by assisting on Crosby's second goal.

Persons: Mikko Rantanen, Jerome Miron, Andrew Cogliano, Valeri Nichushkin, Ross Colton, Ryan Johansen, Miles Wood, Cale Makar, Alexandar Georgiev, Tyler Seguin, Joe Pavelski, Mason Marchment, Jake Oettinger, Nichushkin, Cogliano, Josh Norris, Erik Brannstrom, Anton Forsberg, Marco Rossi, Filip Gustavsson, Cole Smith, Yakov Trenin, Gustav Nyquist, Kevin Lankinen, Philipp Kurashev, Tyler Johnson, Arvid Soderblom, Jimmy Vesey, Igor Shesterkin, Vesey, Vitek Vanecek, Artemi Panarin, Blake Wheeler, Jack Hughes, Ondrej Palat, Erik Haula, Sean Couturier, Couturier, Logan Thompson, Owen Tippett, Tyson Foerster, Sean Walker, Travis Sanheim, Carter Hart, Philadelphia Jonathan Marchessault, Shea Theodore, William Karlsson, Thompson, Luke Glendening, Steven Stamkos, Glendening, Cole Koepke, Derek Ryan, James Hamblin, Evan Bouchard, Ryan Nugent, Hopkins, Trent Frederic, David Pastrnak, Juraj Slafkovsky, Johnathan Kovacevic, Jake Allen, Oliver Wahlstrom, Brock Nelson, Hudson Fasching, Kyle Palmieri, Mathew Barzal, Ilya Sorokin, Martin Pospisil, Blake Coleman, MacKenzie Weegar, Yegor Sharangovich, Jacob Markstrom, Connor Zary, Nazem Kadri, Hendrix Lapierre, Washington's Sonny Milano, Alex Ovechkin, Charlie Lindgren, Columbus, Johnny Gaudreau, Ivan Provorov, Justin Danforth, Elvis Merzlikins, Jordan Eberle, Matty Beniers, Jamie Oleksiak, Yanni Gourde, Philipp Grubauer, J.T . Miller, Quinn Hughes, Nils Hoglander, Tyler Myers, Thatcher Demko, Seth Jarvis, Jarvis, Jaccob Slavin, Brent Burns, Sebastian Aho, Antti Raanta, Sidney Crosby, Kris Letang, Tristan Jarry, Adrian Kempe, Louis, Quinton Byfield, Blake Lizotte, Pierre, Luc Dubois, Kevin Fiala, Jake Neighbours, Jordan Binnington, Mark Scheifele, Kyle Connor, Scheifele, Connor, Josh Morrissey, Vladislav Namestnikov, Mason Appleton, Laurent Brossoit, Matias Maccelli, Matt Dumba, Karel Vejmelka Organizations: Dallas Stars, Colorado Avalanche, American Airlines Center, Avalanche, Dallas, Senators, Ottawa, NHL, Blackhawks, Nashville, Chicago, Predators, Central Division, Rangers, Devils, Flyers, Golden Knights, Philadelphia, Vegas, Oilers, Tampa Bay, Edmonton, Bruins, Canadiens, Trent, Boston, Montreal, Islanders, Flames, New York, Calgary, Capitals, Blue Jackets, Canucks, Seattle, Vancouver, Hurricanes, Penguins, Pittsburgh, Blues, Angeles, St, Los, Pacific Division, Jets, Coyotes, Winnipeg, Arizona, The Coyotes, Thomson Locations: Dallas , Texas, USA, Colorado, Rantanen, Minnesota, Stockholm, Sweden, New York, New Jersey, Newark , N.J, Vegas, Montreal, New, Washington, Columbus, Carolina, Pittsburgh, Raleigh, N.C, Los Angeles

Ustrell is one of scores of European winemakers struggling to grow enough grapes as extreme and unseasonable weather becomes more commonplace. Falling prices, rising costsAcross the border, French winemakers are grappling with the opposite problem: Too much wine. Many French winemakers have suffered as retail prices have fallen this year. Charly Triballeau/AFP/Getty ImagesFrench winemakers struggling to sell their own produce have taken out their anger on imports from Spain. The supply of French wine has exceeded waning demand in France and abroad this year.

Persons: New York CNN — Jordi Ustrell, “, Celler, Ustrell, Giogio Delgrosso, Delgrosso, Greg Jones, ”, hasn’t, pip Italy, ’, Charly Triballeau, Rouanet, Michael Baynes, they’ve, Baynes, Arnaud Finistre, John Mitra, Penelope, It’s, Penelope Mitra, Faure Haut Normand, John Mitra More, Mitra Organizations: New York CNN, CNN, International Organisation for Vine, European Union, Getty, European Commission, Vineyards, Estate, “, Burgundy Wine Company Locations: Paris, New York, Spanish, Gratallops, Italy, Spain, Australia, South Africa, Chile, United States, an Oregon, Oregon, Barcelona, Sauvignon, France’s Bordeaux, France, French, Toulouse, AFP, Aude, Bordeaux, Argentina, Burgundy

☆ The Bergdorf Blonde Moves to Park Avenue
▼ + stars: | 2023-11-18 | by ( Gabrielle Bluestone | ) www.nytimes.com time to read: +1 min

Parvin Klein, the veteran colorist who perfected an iconic shade of blonde, has painted her last highlight at the Bergdorf Goodman department store salon. But the future of Ms. Klein has a happy ending, moving operations to Julien Farel’s salon at the Regency, a few blocks away from Bergdorf. Ms. Klein, who moved to New York at age 34 in the wake of the Iranian Revolution, had no experience when she enrolled in cosmetology school. Though the name of the salon changed over the years, Ms. Klein, and her eye for color, remained a constant. You have to have love and passion, and your brush, how you’re moving your brush, and how you’re moving your comb, how you look at the hair.”

Persons: Parvin Klein, Goodman, Klein’s, Sergio Valente, Frédéric Fekkai, John Barrett, Neiman Marcus, Klein, Julien Farel’s, Bergdorf Goodman, . Valente, Ms, “ It’s Locations: Bergdorf, New York

Formula One F1 - Las Vegas Grand Prix - Las Vegas Strip Circuit, Las Vegas, Nevada, U.S. - November 15, 2023 Ferrari's Charles Leclerc talks to the media ahead of the Las Vegas Grand Prix REUTERS/Finn Blake Acquire Licensing RightsLAS VEGAS, Nov 16 (Reuters) - The first practice session of the Las Vegas Grand Prix was cancelled on Thursday just eight minutes in to repair the track after a faulty water valve cover badly damaged Carlos Sainz's Ferrari. Ferrari team principal Frederic Vasseur said two-thirds of the car would need to be changed out and called the situation "unacceptable." "These cars are generating huge amounts of suction underneath now," said Williams Racing team principal James Vowles. Mercedes team principal Toto Wolff lashed out at a reporter who asked how the cancelled practice was not a "black eye" for F1. The brief first test of the course along the transformed Strip marks F1's return to Las Vegas for the first time in nearly 40 years.

Persons: Ferrari's Charles Leclerc, Finn Blake, Carlos Sainz's Ferrari, Frederic Vasseur, Carlos, Vasseur, Esteban Ocon's, Williams, James Vowles, McLaren, Zak Brown, Mercedes, Toto Wolff, Wolff, Haas, Nico Hulkenberg, Kevin Magnussen, Max Verstappen, Logan Sargeant, Rory Carroll, Miral Organizations: Las Vegas, Las Vegas Strip, Las Vegas Grand Prix REUTERS, LAS VEGAS, Prix, Ferrari, FIA, Williams Racing, Thomson Locations: Las Vegas , Nevada, U.S, Baku, Montreal, Las Vegas, Los Angeles

[1/5] Formula One F1 - Las Vegas Grand Prix - Las Vegas Strip Circuit, Las Vegas, Nevada, U.S - November 16, 2023 Stewards use a crane to remove the Ferrari of Carlos Sainz Jr. after the cancellation of the first practice session due to a drain cover that came off the asphalt and hit the car. The survival cell, engine, battery and control electronics were all damaged beyond repair during an incident that Ferrari team principal Frederic Vasseur called "unacceptable." "I think it's tough for a team to arrive in Vegas and to have this kind of incident," he said as mechanics rebuilt Sainz's car. read moreAlpine driver Esteban Ocon's chassis also needed to be replaced due to damage but he too returned for second practice. The sessions along the transformed Strip marked F1's return to Las Vegas for the first time in nearly 40 years.

Persons: Carlos Sainz Jr, Sainz, Charles Leclerc, Ferrari, Carlos Sainz, Frederic Vasseur, Esteban Ocon's, Fernando Alonso, Aston Martin, Red Bull's Sergio Perez, Valtteri, Alfa Romeo, Red, Max Verstappen, Verstappen, I've, Mercedes, Lewis Hamilton, I'm, Vasseur, McLaren, Zak Brown, Toto Wolff, Wolff, Leclerc, Haas, Nico Hulkenberg, Kevin Magnussen, Rory Carroll, Alan Baldwin, Miral Fahmy, Toby Davis Organizations: Las Vegas, Las Vegas Strip, VEGAS, Ferrari, FIA, Aston, Alfa, Briton, Liberty, Thomson Locations: Las Vegas , Nevada, U.S, Vegas, Qatar, Las Vegas, Monaco, Baku, Los Angeles, London

☆ Tesla's New CyberBeer Apparently Tastes Like "Hot Garbage"
▼ + stars: | 2023-11-16 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Some Tesla superfans who bought it are saying the bottles are rusty and it tastes like "hot garbage." AdvertisementSome Tesla superfans aren't thrilled with Tesla's new CyberBeer — and they're taking to social media to air their grievances. "Tesla Cyberbeer is hot garbage," one person complained in a post on X on Tuesday. "Why does the Tesla CyberBeer feel like something I'm gonna get alcohol poisoning from?" And the unboxing experience was "premium" for the CyberBeer, Judkins said, noting that the two CyberSteins help make the "$150 price tag easier to swallow."

Persons: Tesla, —, aren't, Jeremy Judkins, 7FgRrmGtJm, Cybertruck, Elon Musk, Frederic J . BROWN, Elon, Lakshmi, Judkins, udkins Organizations: Service, Getty, Tesla, Elon Musk, Twitter, ust Locations: AFP, Lakshmi Varanasi, Elon

☆ What Wall Street can expect from key Biden-Xi meeting as U.S.-China relations remain tense
▼ + stars: | 2023-11-14 | by ( Pia Singh | ) www.cnbc.com time to read: +7 min

Chinese companies, meanwhile, have accelerated in global patent holdings in the cybersecurity sector, according to a recent Nikkei report. More reassurance to Chinese investors To be sure, while these stocks continue to rally, investors in the U.S. largely remain cautious about making any trades based on expectations ahead of the Biden-Xi talks. If anything, Chinese investors could leave Wednesday with more reassurance—which China's economy desperately needs as it struggles to make a post-pandemic recovery. Chinese investors "remain concerned that the deterioration in the bilateral political relationship could have a negative impact on the Chinese economy," Matthews investment strategist Andy Rothman said. Shaun Rein of China Market Research Group told CNBC last week that the meeting "might lower down the temperature," but that he does not expect "anything meaningful" to come from it.

Persons: Joe Biden, Xi Jinping, Frederic Neumann, Neumann, Biden, Xi, Brian Gardner, Gardner, Neo Wang, Wang, Tesla, BYD, Matthews, Andy Rothman, Shaun Rein, Rein, Derek Scissors, CNBC's Organizations: HSBC, Economic Cooperation, South China Morning Post, U.S . Department of Commerce, Nikkei, Micro Devices, Intel, Nvidia, AMD, Micron, MU, Microsoft, Biden, China Market Research Group, CNBC, American Enterprise Institute Locations: China, U.S, Asia, San Francisco, Washington, Beijing, Tesla's China, Europe, South Korea, Japan

☆ The Social Gospel movement is changing our politics and reshaping our perspectives
▼ + stars: | 2023-11-13 | by ( John Blake | ) edition.cnn.com time to read: +15 min

Fain’s sermonette underscores a trend that has largely gone unnoticed: The Social Gospel movement is making a comeback. Jemal Countess/Getty ImagesIt might sound like hyperbole to say that this resurgent form of the Social Gospel is changing our politics. He reached deep into the Social Gospel throughout the UAW strike, routinely deploying what one commentator called “strikingly Christian rhetoric.”Christopher H. Evans, author of “The Social Gospel in American Religion: A History,” said he heard the Social Gospel in Fain’s UAW speeches. “It (The Social Gospel) won’t have the institutional muscle it had before, but you could still have these voices and followers.”The climate in contemporary America seems ripe for the Social Gospel message. And the soaring optimism of old Social Gospel reformers may now seem as outdated as wobbly black-and-white silent films.

Persons: CNN —, Shawn Fain, Fain, ” Fain, Matthew, Jesus, ”, Moses, Paul, Stellantis, Fain’s sermonette, don’t, Frederic J . Brown, John D, Rockefeller, “, pulpits, didn’t, Charles Sheldon, Fain’s, that’s, Democratic Sen, Raphael Warnock, Cornel West, William Barber II, Liz Theoharis, Matthew Desmond, Martin Luther King, William Barber, Jemal Countess, ” Christopher H, Evans, Heath W, Carter, Luke, Sen, Warnock, Barber, Desmond, Amir Levy, it’s, ” It’s, you’re, ” Evans, Dom Helder Camara, Rebecca Cook, Reuters “ There’s, won’t, —, John Blake Organizations: CNN, Big Three, United Auto Workers, UAW, General Motors, Ford Motor Company, Chrysler, Writers Guild of America, UPS Teamsters, UPS, Getty, Democratic, US, Big Tech, Boston University, ” Mining, Library, “, Princeton Theological Seminary, Yale Divinity School‘s Center, Public Theology, Ivy League, The New York Times, Social, Reuters, Teamsters, Screen Actors Guild Locations: Jerusalem, America, Los Angeles, AFP, Washington, Kingston , Pennsylvania, Chicago, ”, American City, American, Lower Manhattan, New York City, Brazilian, Detroit

☆ The Low-Wage Pay Surge Is Over, Threatening the Consumer Boom
▼ + stars: | 2023-11-12 | by ( Amara Omeokwe | ) www.wsj.com time to read: 1 min

More workers are seeking jobs, and the economy is feeling the impact of the Federal Reserve’s fight against inflation. Photo: frederic j. brown/Agence France-Presse/Getty ImagesLow-wage workers were the labor market’s surprise winners of the past few years. As employers clamored to hire from a limited pool of workers, Americans in lower-paying industries gained leverage to obtain some of the largest pay raises and perks. More workers are seeking jobs, and the economy is feeling the impact of the Federal Reserve’s campaign to combat inflation. That has resulted in slower wage growth overall, but particularly at the lower end of the pay scale.

Persons: frederic Organizations: France, Federal

Lending data from China's central bank offers a glimpse of government priorities: as of the end of September, outstanding loans to the troubled property sector fell 0.2% year-on-year but lending to the manufacturing sector jumped 38.2%. This time, the government's focus is narrower, targeting high-tech and "advanced manufacturing", a goal laid out in 2021 in the 14th five-year plan. It grew 11.3% in the first nine months of 2023 year-on-year, compared with 6.3% for overall manufacturing investment, according to data from China's National Bureau of Statistics. For example, Guangdong province has increased lending to both high-tech and advanced manufacturing by about 45%, state media reported. During the first half of 2023, outstanding loans to the high-tech manufacturing sector in the eastern province of Shandong jumped 67%.

Persons: Jens Eskelund, Eskelund, Xi Jinping, Joe Biden, Frederic Neumann, Neumann, Tao Wang, Wang, Fu, Lu Zhengwei, Siyi Liu, Kripa Jayaram, Robert Birsel Organizations: Rights, European Chamber of Commerce, Asia Pacific Economic Cooperation, U.S, Reuters Graphics, overcapacity, HSBC, UBS, China's National Bureau of Statistics, Rystad Energy, EV, China Passenger Car Association, Bank, Industrial Bank, Thomson Locations: Suqian, Jiangsu province, China, CHINA, Rights BEIJING, Europe, Beijing, San Francisco, Xi, Asia, Guangdong province, Shandong, Dongguan, Shanghai

☆ Elon Musk started a price war that Tesla can't win
▼ + stars: | 2023-11-12 | by ( Linette Lopez | ) www.businessinsider.com time to read: +15 min

Elon Musk has started an electric-vehicle price war that Tesla can't finish. In April, Ford CEO Jim Farley said Tesla's cuts could start an unsustainable price war. If it slides back into the red because of its price cuts, expect investors to run in another direction. In China, Tesla's price cuts even sparked protests among owners who paid more for their vehicles. Waging price war during a downturn is a challenge unlike any Tesla has faced before.

Persons: Elon Musk, Tesla, Mark Schirmer, crumb, John Zhang, Musk, —, he's, hasn't, — it's, Frederic J . Brown, Ford, John Lawler, Schirmer, I've, it's, Jim Farley, Elon, Oliver Zipse, Zhang, they're, they'd, Zach Kirkhorn, Linette Lopez Organizations: Cox Automotive, —, Revenue, Wharton School, Ford, BMW, Getty, GM, Mercedes, EV, Hyundai Locations: AFP, China

☆ NHL roundup: Connor Bedard's 4 points pace Blackhawks
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +8 min

1 overall in June, producing four points as the Blackhawks stormed to a 5-3 win over the host Tampa Bay Lightning on Thursday. He became the youngest player in Blackhawks history to have a multi-goal game and at least three points. At 18 years and 115 days old, the top-line center is the third-youngest player in NHL history with a four-point game. Anthony Cirelli had a goal and an assist for the Lightning, and Nikita Kucherov and Steven Stamkos also scored. Vincent Trocheck had a goal and two assists as the Rangers improved to 8-0-1 in the past nine games.

Persons: Connor Bedard, Kim Klement Neitzel, Chicago's Connor Bedard, Bedard, Tyler Johnson, Corey Perry, Kevin Korchinski, Nick Foligno, Philipp Kurashev, Petr Mrazek, Anthony Cirelli, Nikita Kucherov, Steven Stamkos, Mikhail Sergachev, Jonas Johansson, Bryan Rust, Sidney Crosby, Lars Eller, Jake Guentzel, Magnus Hellberg, Pittsburgh's Erik Karlsson, Carl Grundstrom, Adrian Kempe, Kevin Fiala, Pheonix Copley, Oliver Bjorkstrand, Jaden Schwartz, Matt Beniers, Adam Larsson, Vince Dunn, Philipp Grubauer, Nathan MacKinnon, Valeri Nichushkin, Bowen Byram, Ivan Prosvetov, Artturi Lehkonen, Jamie Oleksiak, Alexis Lafreniere, Vincent Trocheck, Artemi Panarin, of Famer Rod Gilbert, Blake Wheeler, Charlie Coyle, David Pastrnak, Trent Frederic, James van Riemdsyk, Brad Marchand, Linus Ullmark, Brock Nelson, Simon Holmstrom, Ilya Sorokin, Cole Caufield, Mike Matheson, Nick Suzuki, Matheson, Cayden Primeau, Christian Fischer, Compher, James Reimer, Elias Pettersson, Ilya Mikheyev, Casey DeSmith, Vancouver's J.T, Miller, Brock Boeser, Andrei Kuzmenko, Phillip Di Giuseppe, Drake Batherson, Artem Zub, Anton Forsberg, Kyle Connor, Mark Scheifele, Mason Appleton, Cole Perfetti, Brenden Dillon, Dylan DeMelo, Alex Iafallo, Laurent Brossoit, Filip Forsberg, Philip Tomasino, Tyson Barrie, Oskar Sundqvist, Robert Thomas, Louis, Joel Hofer, Lawson Crouse, Karel Vejmelka, Matt Duchene, Tyler Seguin, Jake Oettinger, Mason Marchment, Craig Smith, Jason Robertson, Nils Lundkvist, Boone Jenner, Kirill Marchenko, Spencer Martin, Mackenzie Blackwood, Tomas Hertl, Fabian Zetterlund, Filip Zadina, Darnell Nurse, Ryan Nugent, Hopkins, Stuart Skinner Organizations: Chicago Blackhawks, Tampa Bay Lightning, Amalie Arena, Blackhawks, Lightning, Chicago, NHL, Penguins, Pittsburgh, Los, Avalanche, Seattle, Colorado, Rangers, New York, Minnesota, of Famer, New, Bruins, Islanders, Boston, Canadiens, Red Wings, Montreal, Detroit, Canucks, Senators, Vancouver, Ottawa, Jets, Predators, Winnipeg, Nashville, Coyotes, Arizona, Blues, Blue Jackets, Dallas, Columbus, Stars, Sharks, Oilers, Jose, Edmonton, Philadelphia Flyers, Thomson Locations: Tampa , Florida, USA, Los Angeles, Colorado, Denver, New, York, New York, Detroit, St

☆ Charlie Coyle (hat trick), Bruins pull away from Isles
▼ + stars: | 2023-11-10 | by ( Field Level Media | ) www.reuters.com time to read: +3 min

Mandatory Credit: Brian Fluharty-USA TODAY Sports Acquire Licensing RightsNovember 10 - Charlie Coyle registered his first career hat trick and added an assist as the Boston Bruins beat the visiting New York Islanders 5-2 on Thursday night. Van Riemsdyk and Coyle notched their 600th and 400th career points, respectively, during the game. Coyle's second goal of the night came at 9:26 as he strode to the net front and buried a van Riemsdyk feed. He capped the hat trick and second career four-point game on an empty-net goal with 1:21 left. After Coyle took a puck away along the right wall, a van Riemsdyk pass from behind the goal line set up Frederic for a wrist shot goal from the high slot.

Persons: Trent Frederic, Derek Forbort, Brian Fluharty, Charlie Coyle, David Pastrnak, James van Riemdsyk, Brad Marchand, Riemsdyk, Coyle, Linus Ullmark, Brock Nelson, Simon Holmstrom, Holmstrom, Ilya Sorokin, Jean, Gabriel Pageau, Pastrnak, Kevin Shattenkirk, Coyle's, strode, Frederic, Nelson, Noah Dobson's, Pavel Zacha's, Adam Pelech Organizations: Boston Bruins, Trent, New York Islanders, Boston, Islanders, Bruins, Holmstrom, Thomson Locations: Boston , Massachusetts, USA, Boston, New York

☆ ‘Orlando, My Political Biography’ Review: A Collective Approach to Joy
▼ + stars: | 2023-11-09 | by ( Manohla Dargis | More About Manohla Dargis | ) www.nytimes.com time to read: +3 min

Along the way, Preciado draws attention to the construction of identity and that of the movie itself, fusing form and subject. Preciado’s most provocative conceit is that he shares the role of Orlando with 20 other trans and nonbinary individuals of different ages, hues and shapes. Like her Orlando, his travels widely (if on a shoestring budget), undergoes metamorphoses and weaves through the centuries. By sharing the role of Orlando, Preciado shifts the story from the individual to the collective, taking it out of the private realm and into the public sphere. “I wouldn’t exactly say that either,” Orlando says with a Mona Lisa smile.

Persons: Woolf, ”, Christine Jorgensen, Orlando, Amir Baylly, Liz Christin, Dr, “, she’s, ” Orlando, Mona Lisa Organizations: Orlando Locations: Orlando

☆ Right Now Is a Bad Time to Spend Money
▼ + stars: | 2023-11-08 | by ( Oyin Adedoyin | ) www.wsj.com time to read: 1 min

The National Retail Federation forecasts holiday spending will grow to as much as $966.6 billion this year. Photo: frederic j. brown/Agence France-Presse/Getty ImagesPrices remain high for much of what we buy, even as inflation has slowed. Stingily saving money, meanwhile, is a more profitable activity than it has been in recent memory. Since the Federal Reserve raised interest rates to a two-decade high, any dollar spent today is a lost opportunity to earn as much as 5% or more in savings accounts, certificates of deposit and bonds. High rates also make it significantly more expensive for people to spend money they don’t have, with the annual interest rate on some credit cards pushing 30%.

Persons: frederic Organizations: National Retail Federation, France, Federal Reserve

☆ Right Now Is a Terrible Time to Spend Money
▼ + stars: | 2023-11-08 | by ( Oyin Adedoyin | ) www.wsj.com time to read: 1 min

Persons: frederic Organizations: National Retail Federation, France, Federal Reserve

Search resuls for: "frederic"

25 mentions found