China is experiencing an exodus of foreign investment and talent. Xi Jinping is worried.
The signs of historically weak overseas investment in China are everywhere. And not just in the traditional sense of FDI — or foreign direct investment — inflows, though those are at record lows. Demand for Chinese goods is weak. Foreign companies continue to shift parts of their supply chains elsewhere. Even student exchanges and tourist […]
Ford reinstates 2023 guidance, says UAW deal to cost $8.8 billion
NEW YORK – Ford Motor on Thursday reinstated 2023 guidance after pulling its forecast last month due to the impacts of labor strikes and negotiations with the United Auto Workers union. The guidance calls for $10 billion to $10.5 billion in adjusted earnings before interest and taxes, or EBIT, and adjusted free cash flow of […]
Here was Linda Yaccarino’s response after Elon Musk’s obscene suggestion to fleeing advertisers
Linda Yaccarino hasn’t reached boiling point yet. Yaccarino, the chief executive of X, reportedly sat stone-faced as her boss Elon Musk insulted rather than courted high-profile advertisers that have left the platform. A chronology of Musk’s remarks are here. Musk said he sometimes says things he regrets and also that users will be angry if […]
Major League Pickleball asks players to take 40% pay cut
Thomas Wilson of the LA Mad Drops hits a volley shot during the MLP Mesa Premier League Championships at Legacy Sports USA on January 29, 2023 in Mesa, Arizona. Bruce Yeung | Getty Images Pickleball’s rapid growth may be coming back down to reality. Major League Pickleball is requesting that players consent to compensation reductions […]
China’s manufacturing PMI edges lower, signaling continued weakness
An official gauge of China’s manufacturing activity indicated contraction for a second consecutive month in November, signaling continued weakness in the economy despite Beijing’s recent efforts to juice up growth amid a protracted housing slump. China’s official manufacturing purchasing managers’ index slipped to 49.4 in November from 49.5 in October, the National Bureau of Statistics […]
UAW launches union campaigns at Tesla, 12 other automakers in the U.S.
United Auto Workers President Shawn Fain, middle, visits striking UAW Local 551 workers outside a Ford assembly center on South Burley Avenue on Saturday, Oct. 7, 2023, in Chicago. John J. Kim | Tribune News Service | Getty Images The United Auto Workers union is launching an unprecedented campaign to organize 13 non-union automakers in […]
Iger explains Marvels flop, too many Disney sequels
NYT Columnist Andrew Ross Sorkin and C.E.O. of The Walt Disney Company Bob Iger speak during the New York Times annual DealBook summit on November 29, 2023 in New York City. Michael M. Santiago | Getty Images One year after returning to the helm of Disney, Bob Iger said Wednesday his top priority at the […]
$88 for a Christmas tree? 5 ways to save money on your holiday tree.
Perhaps you’re not in the market for a Christmas tree as big as the 80-foot Norway spruce at New York City’s Rockefeller Center, which will be lit on Wednesday in a ceremony carried live on NBC and Peacock CMCSA, -0.57% starting at 8 p.m. Eastern. But if you’re shopping for a Christmas tree — a […]
Foot Locker (FL) earnings Q3 2023
Shares of Foot Locker rose Wednesday in premarket trading after the company posted surprise earnings and sales beats and said it saw strong results over the Thanksgiving weekend. The sneaker and sportswear retailer narrowed its full-year forecast, reflecting slightly better sales trends. It said it now expects sales to drop by 8% to 8.5% for […]
Wall Street strategists actually called 2023 correctly — apart from these seven stocks
As Wall Street strategists roll out their 2024 forecasts, they’ve been getting plenty of side-eye for largely steering their clients wrong on where stocks would end up in 2023. But Jim Bianco, president and macro strategist at Bianco Research, has crept to their defense, arguing that they weren’t 100% off base. “So, yes, strategists were wrong […]
