Business Update – 11 October 2023
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
The Great Mismatch: with millions of open positions, why does the job market feel so dire?
Despite what should be encouraging data from the Labor Department, a majority of job seekers are not finding the opportunities they want. The era of confounding economic data and indicators stretches on.
US economy will slow down, vulnerable to recession: David Kelly
J.P. Morgan Asset Management chief global strategist David Kelly discusses the multiple headwinds facing the U.S. economy.
Disney creates task force to explore AI and cut costs
Disney plans to create an internal task force to exploit artificial intelligence technology to cut costs and develop new products even as it battles labor unions who are trying to limit the use of the technology.
FBI warns of rising elder fraud crime rates as scammers steal billions
Americans over 60 are increasingly falling victim to crimes of fraud perpetrated online and over the phone at rates that add up to billions in losses each year, and federal investigators are warning that the scammers are becoming more sophisticated in the ploys they use to get their victims to hand over large sums of money.
Bank of America analysts see no housing crash like in 2008
Bank of America economists are nixing concerns about a housing crash like the one experienced in 2008. Instead, they say, the market is more reminiscent of four decades ago.
What the plastic surgery industry can tell us about the path of the economy
There are a lot of weird economic indicators out there. Everything from lipstick, to men’s underwear, to cardboard boxes have a story to tell about the economy. Anyone looking for more under-the-radar economic signals can add plastic surgery to the list.
Biden backs new offshore drilling in the Gulf of Mexico. Scaled-back plan disappoints all sides
President Joe Biden’s administration on Friday proposed up to three oil and gas lease sales in the Gulf of Mexico, but none in Alaska, as it tries to navigate between energy companies seeking greater oil and gas production and environmental activists who want Biden to shut down new offshore drilling
Tracking supply disruptions and impact of inflation on small business
The volatile and complex nature of the challenges businesses faced during the Covid-19 pandemic presented multiple dilemmas for business owners, but two challenges emerged as paramount: supply chain disruptions and inflation.
Inflation is ‘always going to be a risk’ with the U.S. economy now fundamentally changed, ADP chief economist says
Inflation is “always going to be a risk” in the U.S. due to structural changes in the labor market, according to Nela Richardson, chief economist at payroll processing firm ADP.
U.S. economy is resilient, says retail economist
The U.S. economy is continuing to grow even as labor disputes across the country and uncertainty created by Congress add to the ongoing challenges of inflation and high interest rates, NRF Chief Economist Jack Kleinhenz said.
How to create a cybersecurity awareness program
For any organization to successfully fight cyber attacks and data privacy violations there has to be a formal cybersecurity awareness program pointing out company policies for all staff. October is Cyber Security Awareness Month, and Howard Solomon, contributing reporter on cybersecurity for ITWorldCanada.com and TechNewsday.com provides some advice for creating a cybersecurity awareness program.
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