Economy

Laid-Off Workers Hired Quickly by Other Companies: This Labor Market Is Astonishingly Strong, Fuel for Fed Inflation Worries

It’s already playing a key role in every one of Powell’s press conferences. By Wolf Richter for WOLF STREET. Just about every day, there are stories of layoffs, but mostly small-scale layoffs, in the hundreds, 300 people here, 500 people there – of the 153 million employed people. Occasionally, there were layoffs of 1,000 or …

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JPMorgan plans to hire 2,000 tech workers by year’s end: report

Check out what’s clicking on FoxBusiness.com JPMorgan Chase & Co. is reportedly planning to add another 2,000 tech engineers to its payroll by the end of 2023 despite widespread concerns over the cooling global economy. Lori Beer, the megabank’s global chief information officer, told Reuters this week the firm is recruiting to fill a few …

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Citing Arizona’s economy, budget surplus, Ducey speeds up flat tax schedule

PHOENIX — The next phase of Arizona’s 2.5% flat tax package will be kicking in a year earlier than expected, Gov. Doug Ducey announced on Thursday. Ducey said the state’s economy has been growing so much that he has directed the Arizona Department of Revenue to put the flat tax into effect in 2023, rather …

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Inside Sam Bankman-Fried’s Crypto Empire — The Information

FTX, the second-biggest crypto exchange in the world by trading volume, has recently been dubbed a “central bank” of crypto as the firm—under the helm of co-founder and CEO Sam Bankman-Fried—emerged as a lender of last resort to struggling businesses amid the market meltdown. That level of influence has been possible in part because the …

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Hurricane Ian victims in Florida qualify for tax relief, IRS says

Resilinc Founder & CEO Bindiya Vakil joined ‘Kennedy’ to weigh in on supply chain issues and power outages in Florida as a result of Hurricane Ian. The Internal Revenue Service announced Thursday that victims of Hurricane Ian in Florida qualify for tax relief. Those impacted by Ian have until Feb. 15, 2023 to file various …

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Hurricane Ian disaster recovery ‘going to fuel the economy’ in Florida, retail expert says

JLL Senior Vice President and Florida retail lead Justin Greider says there’s going to be ‘a lot of money spent’ recovering and rebuilding from this storm. As insurance companies predict $40 billion worth of losses from Hurricane Ian, JLL Senior Vice President and Florida retail lead Justin Greider argued a “positive” of disaster recovery is …

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America’s oldest cheese shop files for Chapter 11 bankruptcy

Nothing gouda can stay: This nation’s premiere fromage purveyor has been rendered insolvent. Alleva Dairy, the Little Italy deli that claims to be the country’s oldest, has filed for Chapter 11 bankruptcy. Despite the enormous setback, the cheddar seller plans to keep on slinging brie even as it teeters on the brink. “After months of …

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California inflation relief payments: Here’s who doesn’t qualify

Inflation relief checks on the way Some people could get the Middle Class Tax Refund as early as Oct. 7. LOS ANGELES – About 23 million California residents will receive inflation relief checks of up to $1,050 in the coming weeks, but not everyone will be getting some extra money in their bank accounts. The …

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