United Airlines’ Inflation Warning – WSJ

While Federal Reserve economists have retired their line that inflation is transitory, they’ve continued to downplay the risk of a wage-price spiral. We wonder what they call the 14.5% raise that United Airlines agreed last week to give its pilots through the end of next year. Anyone who’s flown recently knows they had better check … Read more

Colombian President-Elect’s Economic Revamp Faces Cost Crunch – The Wall Street Journal

Colombian President-Elect’s Economic Revamp Faces Cost CrunchThe Wall Street Journal Colombia: President-elect looks to build governing coalitionThe Washington Post The Guardian view on Colombia’s election: a chance for a changeThe Guardian Colombia’s shift to the left: A new ‘pink tide’ in Latin America?Al Jazeera English View Full Coverage on Google News

Unemployment claims dip but red-hot US labor market might be cooling off

The numbers: New filings for US unemployment benefits fell by 2,000 last week to 229,000 but jobless claims remained near a five-month high in a sign the red-hot labor market might be cooling off slightly as the US economy slows. New filings for unemployment benefits fell by 2,000 last week to 229,000 but remained near … Read more

Recession. Millions of layoffs. Mass unemployment. Hornet’s nest stirred up by Larry Summers’s latest forecast.

Talk of recession and mass unemployment is all over the news – and former Treasury Secretary Larry Summers is the chief reason. Summers on Monday said the US needs several years of high unemployment to get the worst inflation in 40 years back under control. Put in starker terms, the US would have to endure … Read more

SpaceX Fires Employees Involved in Letter Critical of Elon Musk, Company

SpaceX fired some employees involved in a letter that criticized Chief Executive Elon Musk and the way the company applies internal rules, according to an email to staff from SpaceX’s president and people familiar with it. Gwynne Shotwell, SpaceX’s president, said the company conducted an investigation and decided to terminate a number of employees who … Read more

What to Watch as the Tightest Job Market in Decades Starts to Loosen

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Elon Musk Expected to Reiterate Desire to Own Twitter in Meeting Thursday

Elon Musk is expected to confirm his desire to own Twitter Inc. when he speaks to the social-media company’s employees on Thursday, according to a person familiar with the matter. The billionaire Tesla Inc. chief executive is slated to answer pre-submitted employee questions for roughly an hour at a virtual Twitter all-hands meeting Thursday morning … Read more

Coinbase to Lay Off 18% of Staff Amid Crypto Meltdown

Further waves of reckoning swept through the cryptocurrency industry Tuesday, with exchange company Coinbase Global Inc. saying it would cut almost a fifth of its staff and crypto lender Celsius Network LLC hiring a law firm to examine restructuring options. Coinbase, one of the signal growth companies of the crypto boom, said it was slashing … Read more

Bitcoin Price Dips Below $ 21,000 as Crypto Firms Announce Layoffs

The price of bitcoin continued to fall Tuesday as the crypto industry struggles with fallout from the extended selloff. Bitcoin traded as low as $ 20,834 earlier on Tuesday, according to CoinDesk. The original cryptocurrency has not traded under $ 20,000 since December 2020. For the day, bitcoin fell 5.4% to $ 21,991.89, its lowest … Read more

Crypto Exchange Coinbase to Lay Off 18% of Staff

Cryptocurrency exchange Coinbase Global Inc. COIN -0.37% said it is cutting almost a fifth of its staff because the company had grown too quickly and a potential recession “could lead to another crypto winter.” The company said Tuesday it will reduce its workforce by 1,100 employees, or about 18% of its staff, as part of … Read more