Author: theparknews

(Bloomberg) — New York Federal Reserve President John Williams said progress in containing inflation and a cooling labor market would make it appropriate for the central bank to cut interest rates.Most read articles on BloombergWilliams said “significant progress” has been made toward achieving the Fed’s twin goals of price stability and maximum employment, and that the risks to achieving both have moved to “balance.””With the economy in balance and inflation on track toward 2 percent, it would be appropriate to lessen the tightness of our policy stance by lowering the target range for the federal funds rate,” Williams said in…

ParticipantsHock Tan; President, Chief Executive Officer, Director; Broadcom IncKirsten Spears; Chief Financial Officer, Chief Accounting Officer; Broadcom IncVivek Arya; Analyst; BofA Global Research (US)William Stein; Analyst; Truist SecuritiesRoss Seymore; Analyst; Deutsche Bank Securities Inc.Stacy Rasgon; Analyst; Bernstein Institutional Services LLCBen Reitzes; Analyst; Melius Research LLCKarl Ackerman; Analyst; BNP Paribas Securities Corp.Timothy Arcuri; Analyst; UBS Securities LLCHarsh Kumar; Analyst; Piper Sandler & Co.CJ Muse; Analyst; Cantor Fitzgerald & Co.Chris Caso; Analyst; Wolfe Research, LLCChristopher Rolland; Analyst; Susquehanna Financial Group, LLLPAaron Rakers; Analyst; Wells Fargo Securities, LLCJoe Moore; Analyst; Morgan Stanley & Co. LLCHarlan Sur; Analyst; J.P. Morgan Securities LLCEdward Snyder; Analyst;…

(Bloomberg) — European luxury brands have lost nearly $250 billion in market value in recent months, but their stock-market clout could weaken further as China’s economic downturn worsens.Most read articles on BloombergShares in companies that make luxury clothing, handbags and jewelry, once seen as Europe’s answer to the U.S.’s “Magnificent Seven” tech giants, have slumped as spending slumps. More ominously, there are signs that wealthy Chinese who once flocked to the luxury boutiques of Paris, Milan and Hong Kong are losing their appetite for expensive goods amid an economic downturn that may never return.”This year will be more volatile and…

CALIFORNIA — There’s a lot happening in California business news this week, including a battle between a restaurateur and a landlord trying to evict her, soaring home insurance costs and an alarming case of a new credit card skimmer that has appeared at a California gas station.This week, a chef featured in Netflix’s “You Are What You Eat: A Twin Experiment” was assaulted by a man walking his dog in San Francisco. Financial experts say California’s unemployment rate is no longer the highest in the country, but the state’s economy remains sluggish in the wake of the coronavirus pandemic.Check out…

Even billionaire philanthropist and entrepreneur Bill Gates has questions that keep him up at night: Will there be another pandemic? Will global tensions reach a boiling point and spark a world war? What will push us to that point?While Gates, a father of three, is staunchly optimistic about things like AI and the eradication of deadly diseases like polio, he remains concerned about widespread war and new pandemics.He said there was currently “great unrest” in the world that could lead to a “major war”.But even if that conflict is averted, “certainly, it’s likely that we’ll see another pandemic within the…

(Bloomberg) — For the first time in two decades, China no longer appears to be the driving force behind global oil demand, a development that is unchartered territory for many of the traders and executives gathered at the Organization of the Asia-Pacific Petroleum Exporting Countries oil meeting in Singapore this week.Most read articles on BloombergChina’s economic performance is dire, with a struggling real estate market and weak consumer confidence as it struggles to recover from the pandemic-induced slowdown. This, combined with structural changes brought about by an aging population, the energy transition and a growth model less dependent on large…

(Bloomberg) — Tupperware Brands Inc. is preparing to file for bankruptcy as soon as this week after a years-long turnaround effort amid sagging demand, people familiar with the matter said.Most read articles on BloombergThe household goods brand, a food storage icon for nearly a century, plans to seek court protection after hiring legal and financial advisers following a default on its debt, said the people, who asked not to be identified discussing confidential information.Following the news, the company’s shares fell by more than 50% as of 3:53 p.m. New York time.The bankruptcy proceedings began after protracted negotiations between Tupperware and…

A joint venture between China’s SAIC Motor and JSW Group has announced that it will launch a new luxury car brand and launch two models in early 2025.The joint venture, called JSW MG Motor India, has unveiled a new premium brand called MG Select.MG Select targets the growing ‘affordable luxury car’ segment in India and in phase 1, it will see the establishment of ‘new-age’ luxury car experience centres in 12 key cities across the country, JSW MG Motor India said in a statement.MG Select will offer a range of vehicles, with a focus on NEVs, including plug-in, hybrid and…

While investors eagerly await a possible interest rate cut from the Federal Reserve at its September FOMC meeting next week, uncertainty is likely to continue in the market.Katy Kaminski, Chief Research Strategist and Portfolio Manager at AlphaSimplex, joins us to discuss the market outlook in light of the expected shift in fiscal policy.Kaminsky noted that the discussion of rate cuts has been hovering between 25 and 50 basis points, and stressed that “the jury is still out,” but regardless of the size of the cut, “the Fed is changing course” which will impact multiple aspects of the economy and “present…

Q: How will workplaces navigate these intensely divisive political times? It might be wise to pay attention to “what do we want to create?” It might be better to focus on how we speak to each other rather than what we say. Focus on process rather than content. In such situations, lobbying your coworkers to subscribe to your political stance may not be considered a win. The workplace is not going to be open for an exhaustive discussion of your personal politics. Few workplaces exist for that reason. People are confused about that, especially these days. The pandemic has blurred…