This is week 55 of our listing job cuts. Today, the Dow plunged nearly 400 points. Why? According to the CNBC headline because “... economic worries return.”
Category: 26 September 2023
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BANK LOBBY SPENDING MILLIONS TO KILL MODEST REGULATORY CHANGE
In July, the Federal Deposit Insurance Corp., Office of the Comptroller of the Currency, and U.S. Federal Reserve proposed a regulation to require banks with $100 billion or more in assets—so-called “megabanks”—to set aside more capital as reserves against loan losses and to ensure general operational stability.
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FEDEX: REVENUE DOWN, PROFITS UP
In the quarter ending 31 August, FedEx took in $21.7 billion in revenue, 6 percent less than a year earlier. Even so, it reported a profit of $1.08 billion, compared to $875 million in the same quarter in 2022.
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HOME SALES, STARTS FALL IN AUGUST
Sales of existing homes slipped 0.7 percent in August from July and fell 15.3 percent from August 2022, setting their slowest pace since January, the National Association of Realtors (NAR) reported.
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CORPORATE BANKRUPTCIES COULD REACH 13-YEAR HIGH
Through August, 450 U.S. corporations have claimed bankruptcy, more than the total in either 2021 or 2022, according to a report by Guggenheim Investments.
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CREDIT CARD COMPANIES PILING UP LOSSES AT FASTEST RATE IN 30 YEARS
Aside from the early days of the Great Recession, credit card issuers are seeing their losses mount at the fastest rate since the mid-1990s, CNBC reported.
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DOLLAR CLIMBS AS INVESTORS SEE HIGHER RATES AHEAD
Last week, the dollar rose to six-month highs against the euro, pound, and yen after U.S. Federal Reserve officials said the bank expects to keep interest rates higher longer than they had earlier predicted.
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FED LETS RATES STAND WHILE DEBATING A NOVEMBER HIKE
The U.S. Federal Reserve’s Open Market Committee did not raise rates when it met last week, leaving them at 5.25 percent for deposits and 5.5 percent for loans, both at a 22-year high.
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THIS WEEK IN SURVEILLANCE
Joining sensory systems with AI is the cutting edge of where more sophisticated technology is heading.
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FROM FANTASY AND INTRIGUE TO REALITY: LEADING AUTHORS VS AI
It’s exactly what The Trends Journal explained and forecast to readers well before most people knew what ChatGPT was: the company behind it had hijacked human creative content en masse, and figured out a way to monetize it.