At least 17 laid off at Market News International, including Beckner
Layoffs hit the editorial operation of Market News International on Monday, with the most prominent cut being longtime Federal Reserve Board reporter Steve Beckner. The cuts occurred in the Washington, Chicago and New York newsrooms, and one staffer who remained said they totaled about half the staff. The cuts come less than two weeks after […]
Coverage: Oil prices drop as inventories hit record
U.S. oil prices dropped to a two-month low Wednesday after federal data showed U.S. inventories of crude oil and refined products at a record high. Nicole Friedman of Dow Jones Newswires had the news: U.S. oil prices have hovered between $45 and $50 a barrel in recent weeks as traders weigh ample stockpiles against expectations that […]
Quartz launches index on the economy
Business and financial news site Quartz has started an index tracking the global economy. The index is designed to complement traditional economic indicators. It will use indicators that together tell the story of not just which direction the economy is headed, but how it’s getting there. Quartz Index is a collection of eight numerical indicators, […]
Coverage: Fed now backing away from future rate hikes
Technical glitch results in problems for media reporting Fed minutes
The Federal Reserve Board issued the following statement on Wednesday: A technical error occurred Wednesday during the media lock-up for the release of the minutes of the June meeting of the Federal Open Market Committee. As a result of the error in the use of the Federal Reserve equipment that cuts off and enables electronic […]
Coverage: New Panama Canal open to more global trade
A $5.4 billion expansion of the Panama Canal opened Sunday, allowing bigger ships to cross from the Atlantic Ocean to the Pacific Ocean amid hopes that global trade will expand as a result. Chris Kraul of the Los Angeles Times had the news: Whereas the original canal opened in 1914 to accommodate ships carrying as many as 5,500 […]
Coverage: British vote to leave EU sends markets into turmoil
The British people voted Thursday to leave the European Union, sending markets worldwide into turmoil. Stephen Gandel of Fortune had the outlook for the U.S. stock market: Dow Jones industrial average futures were predicting that the gauge could open down nearly 650 points when stocks start trading on Friday, after the U.K. voted to leave the […]
Coverage: Poll indicates Britain to remain in EU
Polls released showed that a majority of British residents plan to vote in favor of remaining in the European Union, sending markets higher. Riva Gold and Mike Bird of The Wall Street Journal had the news: Two weekend polls showed—by tiny margins—that British voters now favor remaining in the union, versus a departure, or Brexit. Afterward, the […]
Coverage: Fed tempers additional rate hike talk
Federal Reserve chairwoman Janet Yellen announced Wednesday that the Federal Open Market Committee won’t raise interest rates this month due to an uncertain economic future across the globe. Binyamin Appelbaum of The New York Times had the news: The Fed said on Wednesday, after a two-day meeting of its policy-making committee, that it would not raise […]
Bloomberg Intelligence seeks economics editor
Bloomberg Intelligence provides a comprehensive view of an industry and its key constituents. We offer unsurpassed depth and breadth at the economic, strategy, sector, industry, political, credit and company levels. Our team of independent experts provide valuable written analysis, industry data and interactive charting. Our work gives trading and investment professionals deep insight into where […]
