Volkswagen is cancelling a no-layoffs pledge and won't rule out closing plants in Germany

Volkswagen has warned that due to challenges facing the auto industry, it may be forced to close plants in Germany and abandon a long-standing job protection agreement that has been in place since 1994, which would have prevented layoffs through 2029. "The European automotive industry is in a very

US production has fallen for the first time in seven months

Economic activity in the manufacturing sector continued its decline in August, marking the fifth consecutive month of contraction and the 21st time in the past 22 months, according to the latest Manufacturing ISM® Report On Business®. Timothy R. Fiore, Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey

The Bureau of Labor Statistics’ preliminary annual benchmark review of employment data suggests that there were 818,000 fewer jobs in March of this year than were initially reported

The Bureau of Labor Statistics' preliminary annual benchmark review indicates that there were 818,000 fewer jobs in March 2024 than initially reported. Each year, the BLS revises data from its monthly payroll survey, adjusting the March employment levels to align with figures from the Quarterly Census of Employment

The median American home is 128 square feet smaller and $125,000 more expensive than it was five years ago

The typical American home is now 128 square feet smaller and $125,000 more expensive than it was five years ago, according to a recent analysis by USA Today Homefront. The research team used data from Realtor.com to analyze changes in listing prices and home sizes across 150 of

Kamala Harris is more trusted than Donald Trump on the US economy

A new poll reveals that more Americans trust Kamala Harris to handle the US economy than Donald Trump, a shift in voter sentiment after President Joe Biden withdrew from the 2024 race. Conducted by the Financial Times and the University of Michigan Ross School of Business, the survey marks the

Brazil Supreme Court orders X/Twitter to be fully suspended in the country immediately

Brazil's highest court has ordered the immediate suspension of X (formerly Twitter) in the country after its owner, Elon Musk, refused to appoint a legal representative for the platform in Brazil. This move escalates a long-standing conflict between Musk and Supreme Court Justice Alexandre de Moraes, who is

Nearly half of Gen Z relies on family financial help, as they face higher daily expenses and lower wages adjusted for inflation compared to their parents

Nearly half of Gen Z relies on family financial help, as they face higher daily expenses and lower wages adjusted for inflation compared to their parents, per Bank of America. The rising cost of living is impacting Generation Z, with nearly half of young adults relying on financial help from

Goldman Sachs, $GS, to lay off over 1,300, up to 4% of workforce

Goldman Sachs (GS.N) is set to lay off over 1,300 employees from its global workforce as part of its annual review process aimed at trimming low performers, according to a report from the Wall Street Journal, which cited sources familiar with the situation. The bank is expected to

The number of 401(k) millionaires has hit an all-time high

The number of 401(k) plan participants with account balances exceeding $1 million reached a record high by the end of June, according to new data from Fidelity Investments. Approximately 497,000 individuals became so-called 401(k) "millionaires" in the second quarter, reflecting a 2.5% increase from

Workers won't accept less than $81,000 for a new job right now,

Workers are increasingly concerned about job security as executives signal plans to replace them with AI, according to a survey by the Federal Reserve Bank of New York. However, despite this growing anxiety, job seekers are not lowering their salary expectations for new roles. The NY Fed survey, conducted every

A record number of buyers backed out of purchase deals in July due to high costs and economic worries

US homebuyers are increasingly backing out of deals as elevated prices continue, causing the supply of available homes to rise. In July, active home listings saw a record 13.7% year-over-year increase, according to a report from Redfin. This spike is largely attributed to a record-breaking 59,000 canceled home-purchase

4.4% of Americas expect to lose their jobs in the near future

Workers are increasingly concerned about job security as executives signal plans to replace them with AI, according to a survey by the Federal Reserve Bank of New York. However, despite this growing anxiety, job seekers are not lowering their salary expectations for new roles. The NY Fed survey, conducted every

Housing supply is surging as a record number of buyers get cold feet amid sky-high prices

US homebuyers are increasingly backing out of deals as elevated prices continue, causing the supply of available homes to rise. In July, active home listings saw a record 13.7% year-over-year increase, according to a report from Redfin. This spike is largely attributed to a record-breaking 59,000 canceled home-purchase

Housing supply is surging as a record number of buyers get cold feet amid sky-high prices

US homebuyers are increasingly backing out of deals as elevated prices continue, causing the supply of available homes to rise. In July, active home listings saw a record 13.7% year-over-year increase, according to a report from Redfin. This spike is largely attributed to a record-breaking 59,000 canceled home-purchase

A shortage of young men in the workforce could weigh on housing, Social Security, and growth for years to come

Experts warn that a long-standing trend of men dropping out of the workforce is dragging on the economy, and it could take years to reverse. This issue is particularly concerning because men have been leaving the labor force for decades. Carol Graham, a senior fellow in economic studies at the

Traders see the US Fed delivering 25 bps cut in Sept, 100 bps by year-end

Federal Reserve officials received confirmation on Friday that inflation continues to cool, setting the stage for a potential interest rate cut next month as they shift focus toward stabilizing the labor market. The personal consumption expenditures (PCE) price index showed a 2.5% increase in July compared to the previous

X will close its San Francisco headquarters on September 13

In a brief note to staff on Thursday, the company formerly known as Twitter announced that its longtime office and global headquarters in San Francisco will close in two weeks, on Sept. 13, according to one person familiar with the announcement. Employees in San Francisco will be moved to offices

Ford Motor, $F, has said it will change its diversity, equity & inclusion program, including ending participation in an LGBTQ advocacy group's ranking system

“We are mindful that our employees and customers hold a wide range of beliefs, and the external and legal environment related to political and social issues continues to evolve,” Farley’s memo to employees read. “Ford does not utilize hiring quotas or tie compensation to the achievement of specific diversity

Lowe’s, $LOW, is scaling back its diversity, equity and inclusion programs

Home improvement giant Lowe’s is scaling back its diversity, equity, and inclusion (DEI) policies, joining a number of companies that have adjusted their programs following the U.S. Supreme Court's decision to strike down affirmative action in college admissions or after facing conservative criticism online. In an

Allstate is set to increase home insurance rates in California by an average of 34.1%

Allstate Corp. is set to raise home insurance rates for California customers by an average of 34.1%, marking the largest premium increase by a major insurer in three years as the state grapples with a growing property insurance crisis. The rate hike, which will take effect in November, will

OpenSea has received a Wells notice from the SEC threatening to sue because they believe NFTs on are securities

"OpenSea has received a Wells notice from the SEC, threatening legal action because they believe NFTs on our platform are securities," said OpenSea co-founder and CEO Devin Finzer. A Wells notice is a formal statement indicating the SEC’s staff plans to recommend an enforcement action. The SEC

Telegram CEO Pavel Durov has been reportedly released from the French police

French authorities charged Telegram CEO Pavel Durov late on Wednesday with preliminary charges related to alleged criminal activity on his messaging platform. After being questioned for four days, Durov was released but is prohibited from leaving France while the investigation continues. Durov, who co-founded Telegram, was detained on Saturday at

Trump says he vows to bring energy prices down 50%

Republican presidential candidate Donald Trump said his top priority if reelected to the White House will be to “drill, baby, drill” to lower the cost of energy. Republican presidential candidate Donald Trump has stated that if he is reelected, his top priority will be to "drill, baby, drill"

Nearly half of real estate investors (42%) have lost $200,000 or more on a single investment. with 45% admitting a bad investment has almost ruined them financially, & 40% wishing they never started investing in residential real estate in the first place

According to new research from Clever Real Estate, a real estate firm based in St. Louis, nearly all residential real estate investors (90%) have experienced financial losses on their investments. Nearly half (42%) report losing more money than they have gained from real estate investing. Furthermore, almost half of the

In New York, rent has shot up 33% from pre-pandemic levels, and nationwide that figure is about 30%

In New York, rent has shot up 33% from pre-pandemic levels, and nationwide that figure is about 30%. Rent prices have surged in recent years, outpacing wage growth in many areas. Although wages grew faster than rents nationally last year — and in nearly half of major U.S. metro areas