On Monday, Treasury Secretary Janet Yellen issued a warning about the potential contagion effects of the decelerating Chinese economy. However, she maintained that a recession in the United States is unlikely to occur this year. The release of new data on Monday revealed that China’s gross domestic product (GDP) experienced a modest growth of only 6.3% in the second quarter (April to June). This sluggish … Continue reading Yellen warns of ‘negative spillover’ from China’s economic slowdown

Ford announced on Monday that it is reducing the prices of its F-150 Lightning electric pickup trucks by several thousand dollars across the entire lineup. This decision comes as a result of increased manufacturing capacity, declining costs of battery raw materials, and internal initiatives aimed at expanding production at the Detroit-based automaker, the Associated Press reported. The price reductions for the F-150 Lightning models, with … Continue reading F-150 Lightning electric pickup will cost less than $50,000 as Ford slashes prices across line

On Monday, Microsoft and British regulators requested additional time from a court as the tech giant took advantage of a rare second opportunity to address objections to its $69 billion acquisition bid for video game maker Activision Blizzard. Legal representatives from Microsoft and the Competition and Markets Authority (CMA) presented their arguments to a judge, seeking a postponement of the scheduled hearing following the CMA’s … Continue reading Microsoft and UK regulators want more time to work on $69 billion Activision deal

Following the breakdown of contract talks between UPS and the union representing 340,000 of its workers, UPS has announced that it will begin training nonunion employees in the U.S. as a contingency plan in the event of a strike. The union has vowed to strike if no agreement is reached by the end of the month. UPS clarified that the training is a temporary measure … Continue reading UPS to train nonunion employees as talks stall with union for 340,000 workers

JPMorgan Chase executives expressed concerns on Friday about the potential impact of stricter regulations following a series of bank failures this year. They warned that such regulations could lead to increased costs for consumers and businesses and might even force banks to exit certain business areas altogether, CNBC has reported. During a discussion with Wells Fargo analyst Mike Mayo about the proposed changes outlined by … Continue reading Dimon says private equity giants are ‘dancing in the streets’ over tougher bank rules