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Monthly Archives: October 2023

Most workers want 4-day workweeks. These job perks may be easier to get

No-mad | Istock | Getty Images The United Auto Workers union has brought new attention to the idea of a 32-hour workweek as part of its strike demands. Turns out, most workers would embrace a shorter workweek. A recent Bankrate survey found 81% of full-time workers want a four-day workweek. …

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Shein to sell co-branded Forever 21 clothes online

Shoppers walks past advertisements on the opening day of fast fashion e-commerce giant Shein, which is hosting a brick-and-mortar pop up inside Forever 21 at the Ontario Mills Mall in Ontario Thursday, Oct. 19, 2023.  Allen J. Schaben | Los Angeles Times | Getty Images Shein is deepening its relationship …

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Key Fed inflation gauge rose 0.3% as expected in September; spending tops estimate

Inflation accelerated in September but consumer spending was even stronger than expected, according to a Commerce Department report Friday. The core personal consumption expenditures price index, which the Federal Reserve uses as a key measure of inflation, increased 0.3% for the month, in line with the Dow Jones estimate and …

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Global bond rout looks ‘tremendously dangerous’ for stocks, hedge fund manager warns

An intensifying bond rout is piling pressure on the global economy and creating a “tremendously dangerous” outlook for equities, the chief investment officer of Livermore Partners hedge fund said Friday. A new era of higher interest rates has caused bond yields to surge, hampering returns for investors and flipping on …

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Apple App Store billing policy can lead to overdraft fees, budget woes

Igor Golovniov | SOPA Images | LightRocket via Getty Images For many purchases, once you swipe your debit or credit card or click “buy now,” that transaction swiftly shows up as pending on your account. But that’s not always the case if you’re shopping in Apple’s App Store.  Apple is …

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Saudi Arabia reinforces deadline for companies to move regional HQs

The Saudi National Bank headquarters and other buildings in Riyadh. Bloomberg | Bloomberg | Getty Images RIYADH — Saudi Arabia is holding on to its ultimatum that foreign companies will need to base their regional headquarters in the kingdom or be barred from lucrative government contracts. The deadline: Jan. 1, …

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revenue barely grew despite growing phone, car sales

Visitors line up in front of the Huawei flagship store on Nanjing East Road, one of the city’s main commercial and tourist area, in Shanghai, China, on Sept. 30, 2023. Bloomberg | Bloomberg | Getty Images BEIJING — Chinese tech giant Huawei reported revenue figures Friday that showed only a …

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Tencent-backed J&T Express fell in Hong Kong IPO debut

Courier handing over package asking female customer to do electronic signature, delivering, receiving, efficiency 10’000 Hours | Digitalvision | Getty Images Shares of Indonesia’s J&T Express fell 1.33% when it went public on Friday. The logistics service provider traded at 11.84 Hong Kong dollars ($1.51) on Friday morning, after opening …

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Chinese smartphone company Xiaomi releases HyperOS as it plans car

The Xiaomi HyperOS logo is displayed on a smartphone. Sopa Images | Lightrocket | Getty Images BEIJING — Chinese smartphone and appliance maker Xiaomi announced late Thursday a new operating system — as it seeks to develop its ecosystem with the imminent release of its own car. Xiaomi shares rose …

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Sam Bankman-Fried defense team fails to land a blow as he takes stand

Courtroom sketch showing Sam Bankman Fried questioned by his attorney Mark Cohen. Judge Lewis Kaplan on the bench Artist: Elizabeth Williams Sam Bankman-Fried took the stand in a New York courtroom on Thursday, as he and his defense team auditioned their best legal material for U.S. District Judge Lewis Kaplan. …

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