Companies will commit to improving Black representation within their workforces once a failure to do so hurts their stock, according to BET founder Robert Johnson. "Tie all of those factors to achieving opportunities in employment at all levels for Black Americans, I think then you'll see results," he told CNBC on Monday. "They respond to […]
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U.S. Weekly Jobless Claims Climb To Highest In Over Four Months
First-time claims for U.S. unemployment benefits climbed by much more than expected in the week ended January 9th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims rose to 965,000, an increase of 181,000 from the previous week’s revised level of 784,000. Economists had expected jobless claims […]
Michelin scrapping 2,300 jobs over next three years
Car design, production will change drastically in next two decades: Magna CEO Magna CEO Swamy Kotagiri on the latest tech trends in the auto industry. French tire maker Michelin said on Wednesday it would cut up to 2,300 jobs over three years as part of a new simplification and competitiveness plan in France, adding this […]
Republican senators spar over whether second $1,200 stimulus checks are necessary
Direct payments of $600 per person are reportedly part of a new coronavirus aid package. Certain senators are pushing for those payments to be $1,200 instead, much like the first round. On Friday, two Republican senators squared off in a debate: Are those checks necessary or not? Millions of Americans are poised to receive second […]
These are the world's most expensive cities for expats
Hong Kong has once again ranked as the most expensive city in the world for expats. The financial hub retained its pricey status in ECA International's cost of living report 2020, released Tuesday, even as the coronavirus pandemic and political tensions weighed on the city's rental costs. Tokyo (2nd), New York (3rd) and Geneva (4th) […]
Cities Losing the Most Jobs in Every State
While some of the jobs lost in the early months of the COVID-19 pandemic have since returned, it appears the job market is in decline again. More than 850,000 Americans filed for initial jobless assistance during the week ending Dec. 5. And nearly 5.8 million Americans received unemployment benefits after their initial claim in the […]
Asia Stocks Head For Mixed Start; Treasuries Rise: Markets Wrap
Asian stocks looked set for a mixed start to Friday trading as investors weighed prospects for a stimulus deal in Washington against disappointing U.S. jobs data. Treasuries gained and U.S. shares ended a volatile session modestly lower. Futures were little changed in Japan, while those in Hong Kong edged higher and Australian equities saw a […]
1.4 million American workers apply for unemployment benefits, as relief bill negotiations drag on
Initial claims for unemployment benefits hit 1.4 million last week, according to the Labor Department. That's the highest level since mid-September. The dynamic points to rising layoffs, according to economists, while Congress continues talks on a Covid relief bill. Meanwhile, coronavirus cases are surging, job growth is slowing and there are millions more unemployed workers […]
As pandemic relief talks continue, the fate of stimulus checks and unemployment benefits remain uncertain
Washington's political leaders have renewed talks on a new coronavirus stimulus bill. As they face a looming government funding deadline, the fate of two initiatives to get more money to Americans,such as stimulus checks and increased unemployment benefits, are still uncertain. "What was a concern in August is now an emergency in December," one analyst […]
U.S. Jobless Claims Drop More Than Expected To 709,000
A report released by the Labor Department on Thursday showed a bigger than expected decrease in first-time claims for U.S. unemployment benefits in the week ended November 7th. The Labor Department said initial jobless claims fell to 709,000, a decrease of 48,000 from the previous week’s revised level of 757,000. Economists had expected jobless claims […]