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Recessions and depressions

Chance of Biden dropping out of presidental race is 40%, Stifel says

by Merchant Moller
Chance of Biden dropping out of presidental race is 40%, Stifel says

There’s a 40% chance President Joe Biden will not seek reelection, according to Stifel. Brian Gardner, the firm’s chief Washington policy strategist, is out with a research note that calls …

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Recession risk remains low despite jump in unemployment rate, experts say

by Merchant Moller
Recession risk remains low despite jump in unemployment rate, experts say

People walk past a restaurant, with a hiring sign outside, in Washington, D.C., on Oct. 5, 2023. Andrew Caballero-Reynolds | AFP | Getty Images The unemployment rate, which has remained …

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Economist Sahm, who devised recession rule, says the Fed is ‘playing with fire’

by Merchant Moller
Economist Sahm, who devised recession rule, says the Fed is ‘playing with fire’

Economist Claudia Sahm on CNBC’s The Exchange. CNBC The Federal Reserve is risking tipping the economy into contraction by not cutting interest rates now, according to the author of a …

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Lawmakers seek health care and retirement protections for Steward Health Care workers

by Margaret Jenner
Lawmakers seek health care and retirement protections for Steward Health Care workers

BOSTON — A group of Democratic members of Congress, led by Sen. Edward Markey of Massachusetts, is seeking reassurances that workers at hospitals owned by Steward Health Care will have …

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Cuban troubadour Silvio Rodríguez, icon of the revolution, dwells on island’s troubles in new album

by Jeff Dinwiddie
Cuban troubadour Silvio Rodríguez, icon of the revolution, dwells on island’s troubles in new album

HAVANA — He was the poetic voice of the Cuban Revolution, an inspiration for millions of Latin Americans living under dictatorships throughout the 1960s and 1970s who dreamt of the …

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Romance Writers of America files for bankruptcy after tumultuous split spurred by racism allegations

by Jeff Dinwiddie
Romance Writers of America files for bankruptcy after tumultuous split spurred by racism allegations

The Romance Writers of America has filed for bankruptcy protection following several years of infighting and allegations of racism that fractured the organization, causing many of its members to flee. …

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Walmart bubble due to high-income grocery spending, warns Bill Simon

by Merchant Moller
Walmart bubble due to high-income grocery spending, warns Bill Simon

Higher-income consumers may be creating a frothy situation at Walmart. Even though affluent shoppers helped drive the retailer’s latest beat on quarterly results, former Walmart U.S. CEO Bill Simon warns …

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Steward Health Care says it is selling the 30+ hospitals it operates nationwide

by Margaret Jenner
Steward Health Care says it is selling the 30+ hospitals it operates nationwide

Steward Health Care said it plans to sell off all its hospitals after announcing this week that it filed for bankruptcy protection. The Dallas-based company, which operates more than 30 …

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Hospital operator Steward Health Care files for bankruptcy protection

by Margaret Jenner
Hospital operator Steward Health Care files for bankruptcy protection

BOSTON — Hospital operator Steward Health Care filed for bankruptcy protection early Monday morning, but pledged to maintain the eight hospitals it operates in Massachusetts. In a press release, company …

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Majority of people in Singapore positive on the economy: SurveyMonkey

by Merchant Moller
Majority of people in Singapore positive on the economy: SurveyMonkey

Almost 80% of Singaporeans are optimistic about the economy, according to SurveyMonkey’s 2024 poll. Damircudic | E+ | Getty Images Majority of the residents in Singapore are bullish about where …

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