Federal Reserve Plans to Cut 10% of Workforce
The Federal Reserve announced plans to reduce its workforce by 10% over the next couple of years, including offering a voluntary deferred resignation program to some older employees, according to a memo
US Import Prices Rise Amid Capital Goods Costs
In April, U.S. import prices rose unexpectedly by 0.1%, according to data released by the Labor Department’s Bureau of Labor Statistics on Friday. The increase was driven by a surge in the
OpenAI Launches Codex: The AI-Powered Coding Agent
OpenAI announced the launch of Codex, its most capable AI coding agent yet, on Friday. Powered by the codex-1 model, which is optimized for software engineering tasks, Codex promises to generate cleaner,
Wall Street Rises on U.S.-China Trade Truce
Wall Street’s main indexes rose on Friday for their fifth consecutive day of gains, buoyed by the U.S.-China tariff truce announced earlier in the week. Despite this positive news, economic survey data
CEO Departure Marks Challenges for Novo Nordisk
Novo Nordisk CEO Lars Fruergaard Jørgensen will step down as part of an accelerated leadership transition, marking a significant shift in the company’s leadership. Former CEO Lars Rebien Sørensen, who currently serves
Walmart Faces Tariff Pressures Despite Q1 Revenue Growth
Walmart (WMT) reported mixed results for its first-quarter earnings, navigating the challenges posed by President Trump’s tariffs. While the retailer saw a 2.5% increase in revenue to $165.6 billion, it fell short
Fed May Reconsider Approach to Inflation and Jobs: Powell
The U.S. Federal Reserve is considering revising key elements of its monetary policy framework, especially regarding jobs and inflation, as it faces the possibility of more frequent and persistent supply shocks. This
UK Economy Surprises with 0.7% Growth, But Challenges Ahead
Britain’s economy grew more strongly than expected in early 2025, giving a boost to the government and finance minister Rachel Reeves. However, she faces tougher challenges ahead due to her tax hike
Alibaba Shares Rise 18% on Strong Sales and Dividend News
Alibaba Group Holding saw its share price rise by 18% last month, buoyed by a 7% increase in quarterly sales and a meaningful surge in net income. The company also announced a
Jamie Dimon Warns Recession Possible Despite Tariff Rollback
Wall Street titan Jamie Dimon expressed caution Thursday about the state of the U.S. economy, stating that a recession remains a serious possibility despite the recent rollback of tariffs on China. In