Economy

Over 1,100 New York Times staffers walk out after union talks fail

Photo by Jakub Porzycki/NurPhoto via Getty Images More than 1,100 members of the New York Times union walked out on the job Thursday morning after more than a year and a half of stalled contract negotiations with The Times’ management. Why it matters: The walkout represents a breaking point between the two parties, which have …

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Kentucky unemployment benefits cut in half starting in January, other changes | News

LOUISVILLE, Ky. (WDRB) — An overhaul of Kentucky’s unemployment system goes into effect next month, with benefits being cut nearly in half. But opinion is divided on whether the result will be positive. Since its creation in 1938, Kentucky unemployment insurance was available for up to 26 weeks — or half a year. “This is …

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Rent the Runway surge, GameStop gains, Jobless claims and more: Thursday’s 5 things to watch

Crossmark Global CIO gives his take on Blackstone limiting redemptions and on what investors should watch on ‘Making Money.’ Here are the key events taking place on Thursday that could impact trading. CLEAN THE RUNWAY: Shares surged 25% in extended trading. The world’s first and largest shared designer closet topped Wall Street revenue estimates and …

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55% of US adults report experiencing financial hardship because of rising prices

Baird investment strategy analyst Ross Mayfield says markets are trying to find ‘a place that makes sense’ heading into a ‘slow’ 2023. According to a recent Gallup poll, many US adults indicated their households have experienced financial hardship because of rising prices. The poll, released Tuesday, found the proportion of Americans who said inflation was …

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US unemployment rate set to surpass 5.5%, economists predict

The Federal Reserve’s efforts to stamp out high inflation will push the US unemployment rate up to at least 5.5 per cent as the world’s largest economy tips into a recession next year, according to a majority of leading academic economists polled by the Financial Times. The latest survey, conducted by the Initiative on Global …

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Which Billionaire Owns The Most Land In The US? Hint, It’s Not Bill Gates

Earlier this year, in May, claims were made that Microsoft Corp co-founder Bill Gates owned the majority of America’s farmland. While that is false, with the billionaire amassing nearly 270,000 acres of farmland across the country, compared to 900 million total farm acres, a different billionaire privately owns 2.2 million acres, making him the largest …

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The fate of Sam Bankman-Fried’s investments

Illustration: Maura Losch/Axios Sam Bankman-Fried was a prolific investor in the two years prior to FTX’s collapse, pumping trillions of dollars into startups and venture capital funds. Why it matters: Many of those recipients are wondering what happens next, and if the money could be clawed back. The big picture: Bankman-Fried’s investment portfolio is complex, …

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