Tag Archives: MoneyWatch

Weekly layoffs have risen modestly since hitting a 50-year low in March, indicating the white-hot job market is cooling off slightly. Workers last week filed 229,000 initial unemployment claims, the Labor Department said Thursday, a slight drop from the 231,000 filed the prior week. The four-week average for claims, which smooths …

Coinbase plans to lay off 1,100 employees or 18% of its workforce, CEO Brian Armstrong said Tuesday, marking yet another cryptocurrency exchange that has slashed jobs in recent weeks. “We appear to be entering a recession after a 10-plus year economic boom,” Armstrong said in a company blog post. “A recession …

Millions of cans of baby formula will hit U.S. store shelves in the coming weeks and help ease a nationwide baby formula shortage, according to the Food and Drug Administration. Abbott Nutrition of Illinois plans to ship 300,000 cans of specialty formula, the FDA said Tuesday. But those supplies won’t be …

More than 20 years ago, Apple introduced a rectangular device called the iPod that could store up to 1,000 songs and fit in your pocket. The gadget, deemed the “world’s coolest MP3 player” by PCMag at its debut, was soon a status symbol that changed the way people listened to …

Americans are increasingly worried about the economy, with about 6 in 10 concerned that a major recession is “right around the corner,” according to a recent survey from AllianzLife. The reasons for their anxiety are clear: Economic activity shrank in the first three months of the year, inflation is at a 40-year …

Mississippi will become the final state with a law requiring equal pay for equal work by women and men. The law will become effective on July 1.  A 1963 federal law requires equal pay for equal work, but Mississippi has the only state without its own law since Alabama enacted …

Mercurial billionaire Elon Musk now says he wants to buy Twitter outright, taking it private to restore its commitment to what he terms “free speech.” But his $43 billion offer, which fell flat with investors and raised the board’s hackles, bring up as many questions as it answers. Among them: …

Motorists are feeling less pain at the pump amid a slide in gas prices from their record highs in March. With the U.S. and other nations unleashing more oil from emergency supplies, it’s possible that the per-gallon price could continue its decline, experts say. After hitting a record $4.33 on …

The Ivies have always been hard to get into, but the pandemic has made gaining entry into the schools even tougher. With many U.S. colleges opting to make SAT or ACT scores optional over the past two years, the number of applications has jumped, leading to record low acceptance rates. …

Former U.S. Secretary of Education John King has a bold proposal for speeding the nation’s economic recovery from the coronavirus pandemic and putting millions of people on a better path to achieve financial security: Forgive all $1.7 trillion Americans still owe on their student loans. King, who served under President Barack …