Two-thirds of private- and public-sector economists at the World Economic Forum at Davos, Switzerland, this month expect a recession this year, a survey conducted earlier this month by PwC Global found.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
This is our 25th week reporting the long trend-line of layoffs that signal a further economic downturn in a country near you. Inflation and interest rate hikes are causing companies in many sectors to lay off employees. An average of 1,600 tech workers have been laid off every single day of 2023 so far. The Great Resignation is not yet over.
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TOP TREND 2023, OFFICE BUILDING BUST: NEW YORK CITY’S WORKFORCE SHARPLY SHRINKING
New York City’s economy added just 13,500 jobs in December, leaving payrolls about 12 percent smaller than before the COVID era. That translates to 300,000 fewer jobs in town. The city’s unemployment rate is now 6 percent, almost double the national rate, The New York Post reported. Black and brown communities have lost the most jobs and......
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DEATH OF JOURNALISM: NEWS COMPANIES CUT BUDGETS
With digital ad revenues projected to fall by more than 10 percent this quarter, news organizations are cutting staff to balance their budgets.
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HOMES SELL AT SLOWEST PACE SINCE 2014
The number of existing U.S. homes sold in 2022 was 17.8 percent smaller than in 2021, marking the industry’s worst sales year since 2014, according to the National Association of Realtors (NAR).
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M&A PROFITS TANK FOR MAJOR BANKS
Fees for structuring mergers and acquisitions and underwriting stock issues were down 49 percent at Morgan Stanley last year and 48 percent at Goldman Sachs, the companies reported, as deals dried up amid rising interest rates, continuing inflation, and a gloomy economic outlook.
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RADIOACTIVE, RADIO SILENCE IN THE WEST: CHINA URGES JAPAN TO HOLD OFF ON FUKUSHIMA DUMP INTO SEA
China said Japan is acting recklessly after its decision to release cooling water laced with toxic tritium from storage tanks at the disabled Fukushima Nuclear Power Plant—and said an outside body should have input because it affects the entire ocean.
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TOP TREND 2023, AI WE OWN YOU: 90 PERCENT OF ONLINE CONTENT WILL LIKELY BE GENERATED BY ARTIFICIAL INTELLIGENCE BY 2025
A top Artificial-Intelligence researcher said last week that about 90 percent of the online content consumed by the public will likely be produced by AI by 2025 due to breakthroughs in the technology.
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GET FAT, GET SICK: FAST FOOD CONSUMPTION CAN BRING ON NON-ALCOHOLIC FATTY LIVER DISEASE
Individuals who routinely eat fast food are at higher risk of developing non-alcoholic fatty liver disease, which can be fatal, according to a new study conducted by the University of Southern California.
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SPOTLIGHT: NEW WORLD DISORDER, TOP TREND OF 2020 KEEPS SPREADING
For the second time in two weeks, well over 100,000 people took to the streets across Israel to lash out at what they see as a historic crackdown on individual liberties by Prime Minister Benjamin Netanyahu’s hardline government.