Economic News
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Stock market today: Wall Street rises to pull S&P 500 back within 1% of its record
U.S. stocks rose to pull the S&P 500 back within 1% of its record following a rough April
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Activist investor wins 3 Norfolk Southern board seats but won’t have control to fire CEO
Norfolk Southern’s CEO will be under more pressure to improve profits after the railroad’s shareholders voted to elect three of the board members an activist investor nominated
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Despite numbers showing a healthy economy overall, lower-income spenders are showing the strain
Cracks are showing in one of the main pillars keeping the economy out of a recession: resilient spending by U.S. households
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Bank of England edges closer to rate cut, possibly in June, as it predicts below-target inflation
The Bank of England is keeping its main U.K. interest rate at a 16-year high of 5.25% though it gave a broad hint that a reduction could be on the cards as soon as June as inflation is forecast to fall below target
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US weekly jobless claims hit highest level since August of 2023, though job market is still hot
The number of Americans applying for unemployment benefits jumped to its highest level in more than eight months last week in another sign that the labor market may be softening
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Union push pits the United Farm Workers against a major California agricultural business
A battle is underway in California between a unit of the Wonderful Co. and United Farm Workers over how a group of workers organized under a recently-enacted labor law
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With inflation soaring, Argentina will start printing 10,000 peso notes
Prices in Argentina have surged so dramatically in recent months that the government has multiplied the size of its biggest bank note by five — to 10,000 pesos, worth about $10
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Steward Health Care says it is selling the 30+ hospitals it operates nationwide
Steward Health Care says it plans to sell off all its hospitals after announcing this week that it filed for bankruptcy protection
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Prada focuses generational transition on artisans, expanding production and workforce in Italy
The Prada Group is expanding its production footprint in Italy, including dozens of new jobs at its knitwear factory in Umbria, leaning into “Made in Italy” as integral to the brand’s ethos
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A timeline of the collapse at FTX
FTX, once among the largest cryptocurrency exchanges in the world, said this week that nearly all of its customers will receive the money back that they are owed, two years after its monumental collapse
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