![]() The Labor Department said Thursday that jobless claims in the U.S. applications for unemployment benefits down again last week and remaining at historically low levels. The labor market continues to defy the Federal Reserve’s attempts at loosening it, with U.S. US jobless claims inch down as labor market remains tight Like his predecessors, Narasimhan said Starbucks believes the company functions better without a union. Narasimhan led the company’s virtual annual meeting Thursday, the day after a strike by union supporters at more than 100 U.S. He said in a letter to Starbucks’ employees Thursday that he also expects the company’s leadership team to be engaged in stores. ![]() Narasimhan took the reins as CEO earlier this week. Laxman Narasimhan says it will help him stay close to the company’s culture. ![]() Starbucks’ new CEO says he plans to work a half-day shift once a month in one of the company’s stores. New Starbucks CEO plans to work in stores monthly Strength for technology stocks helped the Nasdaq composite hold up better than the rest of the market. The Dow saw an early gain of 481 points disappear, and it likewise dipped to a brief loss before closing with a modest gain. It had been on track for a much healthier gain of 1.8% in the morning. The S&P 500 added 0.3% Thursday for its third gain in four days. NEW YORK (AP) - Stocks rose, but only after another dizzying day for Wall Street where a big show of strength from the morning vanished and worries rose about the banking industry. Stocks tick higher after another dizzying day on Wall Street Attorneys copied in on the letters sent to the former CEOs haven’t responded to requests from The Associated Press for comment. Separate letters were sent Thursday to former Silicon Valley Bank CEO Gregory Becker and former Signature Bank CEO Joseph DePaolo. The banking committee is examining the events leading up to the closures of the two banks, with the first congressional hearing set for Tuesday. WASHINGTON (AP) - Leaders of the Senate’s banking committee are telling former chief executive officers at the failed Silicon Valley Bank and Signature Bank they “must answer” for their banks’ “downfall.” The senators say in a letter to each CEO he’s expected to appear before the panel. Lawmakers tell ex-CEOs ‘you must answer’ for bank failures Some economists worry, though, that the slowdown might prove so severe as to send the economy sliding into a painful recession. That, in turn, would make it harder for companies to raise prices, thereby reducing inflationary pressures. Fewer loans would mean less spending by consumers and businesses. banks is raising the likelihood that lending standards will become sharply more restrictive. ![]() The upheaval in the financial system that’s followed the collapse of two major U.S. economy and defeat the worst bout of inflation in four decades: a cutback in bank lending. WASHINGTON (AP) - The Federal Reserve is getting some unwanted help in its drive to slow the U.S. ![]() Chew, a 40-year-old Singapore native, made a rare public appearance to counter the volley of allegations that TikTok has been facing.įed’s unwanted ally in bid to tame inflation: Credit crunch TikTok and its parent company ByteDance have been swept up in a wider geopolitical battle between Beijing and Washington over trade and technology. officials concerned about data security and user safety. Shou Zi Chew’s testimony Thursday came at a crucial time for the company, which has 150 million American users but is under increasing pressure from U.S. congressional committee to make the case for why the hugely popular video-sharing app shouldn’t be banned. WASHINGTON (AP) - The CEO of TikTok has been grilled by a U.S. TikTok ban CEO congressional hearing ByteDance China ![]()
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