Business

Covid Made Labor Force Shrink by 500,000, Reason for Labor Shortage

Covid Made Labor Force Shrink by 500,000, Reason for Labor Shortage

A new paper finds that Covid-related illnesses made the labor force shrink by 500,000 people. Many older workers who were out with with Covid chose to retire. Covid-related absences also meant thousands in lost wages for workers, especially without sick leave. Loading Something is loading. After over a year of employers complaining that they just …

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SEC to address growing crypto issuer filings with specialized offices

SEC to address growing crypto issuer filings with specialized offices

In light of the influx of filings from cryptocurrency issuers in the United States, the Securities and Exchange Commission (SEC) decided to set up two new offices this fall to provide specialized support to the seven offices currently responsible for reviewing issuer filings. Under the Division of Corporation Finance’s Disclosure Review Program (DRP), the SEC …

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Donald Trump's Truth Social Merger Deal Under Threat After SPAC Extension Fails, Report Says

Donald Trump’s Truth Social Merger Deal Under Threat After SPAC Extension Fails, Report Says

The special purpose acquisition company (SPAC) that agreed to merge with Donald Trump’s post-Twitter social-media company has been unable to secure a one-year extension needed to complete the deal, according to a report. Citing unnamed parties familiar with the embattled merger, Reuters says Digital World Acquisition Corp. failed to secure enough shareholder support to approve …

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The SEC says most cryptocurrencies are unregistered securities — Quartz

The SEC says most cryptocurrencies are unregistered securities — Quartz

There’s a legal test US regulators use to determine what qualifies as an investment contract, and therefore should be regulated by the US Securities and Exchange Commission. And the head of the SEC says most cryptocurrencies pass it. “Of the nearly 10,000 tokens in the crypto market, I believe the vast majority are securities,” SEC …

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Juul settles massive nationwide probe into youth vaping for $438.5M

Juul settles massive nationwide probe into youth vaping for $438.5M

Enlarge / A young man wears a shirt that reads DITCHJUUL while James Monsees, co-founder and chief product officer at JUUL Labs Inc., testifies before the House Economic and Consumer Policy Subcommittee, which is examining JUUL’s role in the youth nicotine epidemic, on July 25 , 2019, in Washington, DC. Disgraced e-cigarette-maker Juul has agreed …

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S&P 500: Apple's New iPhone Gets The Worst Reception Since iPhone 6S

S&P 500: Apple’s New iPhone Gets The Worst Reception Since iPhone 6S

Apple is the most important stock in the S&P 500 — and the iPhone is the company’s key product. So it’s wise for investors to pay attention to a new release — it’s just that they’re not impressed anymore. X The market’s reception of Apple’s (AAPL) new iPhone 14 due today is already lukewarm. Wall …

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The US is on track for a soft landing, Goldman Sachs chief economist says

The US is on track for a soft landing, Goldman Sachs chief economist says

It’s too soon to declare victory, but Federal Reserve Chair Jerome Powell is on track to navigate the US economy to a soft landing. That’s the view of Jan Hatzius, the chief economist of Goldman Sachs, in a new note to clients. “Since the FOMC started hiking the funds rate early this year, we have …

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ECB makes hawkish shift as inflation surge shreds faith in models

ECB makes hawkish shift as inflation surge shreds faith in models

The European Central Bank’s sense of urgency in tackling inflation has overtaken concerns over the damage an aggressive rate increase that would inflict to the eurozone economy ahead of a policy meeting this week. Several ECB rate-setters have said they are focusing more on current record levels of inflation to decide policy, moving away from …

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Laxman Narasimhan

A Wharton MBA, Born In India, Will Now Lead One Of The World’s Iconic Brands

Laxman Narasimhan will become Starbuck’s next chief executive officer on Oct. 1, 2022 It is a job that Laxman Narasimhan could never have imagined for himself when growing up in Pune, India. But starting this October, Narasimhan will succeed one of the world’s most famous entrepreneurs, Howard Schultz, to become the new chief executive of …

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NYC sues Starbucks over 'wrongful termination' of worker at unionized store

NYC sues Starbucks over ‘wrongful termination’ of worker at unionized store

New York City is suing Starbucks over the “wrongful termination” of a barista who worked at an Astoria store that had just voted to unionize, the Department of Consumer and Worker Protection said Friday. Austin Locke, who had worked for Starbucks for the past six years, was canned on July 5 — a month after …

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