Gautam Adani fails to calm investors as market wipeout hits $100 billion

New Delhi/London CNN — Shares in Gautam Adani’s businesses plunged further on Thursday after an attempt by the Indian billionaire to reassure panicking investors failed to halt a stock market meltdown that has wiped $100 billion off the value of his conglomerate. “For me, the interest of my investors is paramount and everything is secondary,” … Read more

Bed Bath and Beyond is closing 87 more stores, including 1 in Utah

Bed Bath & Beyond announced Wednesday it is closing 87 more stores nationwide, including one in Utah. (Andrew Kelly, Reuters) Estimated reading time: 6-7 minutes NEW YORK — Bed Bath and Beyond is closing another 87 stores, including one in Utah, as the struggling retailer barrels toward bankruptcy. These closures are in addition to the … Read more

80% of workers who quit in ‘great resignation’ regret it: new survey

The “Great Regret” is the latest workplace trend to sweep the nation, with the majority of professionals who quit their jobs last year wishing they could get a do-over, according to a new survey. 2022 was another record year for quitting — 4.1 million workers left their jobs in December, bringing the grand total for … Read more

Venture capital for Black entrepreneurs plummeted 45% in 2022

Bea Dixon, the CEO and co-founder of The Honey Pot Company Courtesy: Honey Pot Company In 2016, Beatrice Dixon had finally secured a deal with Target to carry her line of feminine care products. But she had one problem: She was still making them in the kitchen of her Atlanta home, and she needed to … Read more

Tech stocks extend post-Fed rally, Dow futures lag

US stocks were mixed Thursday, highlighted by a vault upward by tech stocks following the Federal Reserve’s latest interest rate hike and ahead of another batch of earnings from the tech industry’s biggest players. The technology-heavy Nasdaq Composite (^IXIC) soared by almost 3% in midday trading. The S&P 500 (^GSPC) added 1.3%, while the Dow … Read more

Ferrari Couldn’t Be Stopped Last Year

Image: Ferrari Ferrari can do no wrong, Tesla’s suppliers are peeved at its price shenanigans and electric semis have a big problem. All that and more in this Thursday edition of The Morning Shift for February 2, 2023. 1st Gear: Never Bet Against the Horse It must be a ball running Ferrari, the one manufacturer … Read more

US weekly jobless claims drop to nine-month low; productivity gains speed

Weekly jobless claims drop 3,000 to 183,000 Continuing claims decrease 11,000 to 1.655 million Productivity accelerates at a 3.0% rate in the fourth quarter Unit labor costs grow at 1.1% pace WASHINGTON, Feb 2 (Reuters) – The number of Americans filing new claims for unemployment benefits dropped to a nine-month low last week as the … Read more