GM Investing $920 Million in Ohio Truck Plant
General Motors announced this week it will invest some $920 million in an expansion of operations at its Ohio diesel engine plant for production of future internal combustion engine heavy-duty truck powertrain products.
That brings announced...
Unemployment Applications Remain Elevated
During a string of 10 interest rate increases over 15 months, Federal Reserve Chair Jereme Powell indicated the hikes were necessary to have an impact on the job market and cool the economy.
The number...
CPI Down ‘Sharply’ to Lowest Since March 2021
The Consumer Price Index (CPI) rose 0.1% in May, matching Comerica’s forecast. CPI was up 4.0% from a year ago, down sharply from April’s 4.9% to the lowest since March 2021.
Core CPI, excluding...
Powell: More Rate Hikes Likely Later This Year
With inflation still hanging around at double the target rate – it’s at just over 4%, while officials at the Federal Reserve have set a 2% target – Fed Chairman Jerome Powell testified to...
CHEP President Talks Supply Chain, Other Business Issues in CEO Thought Leadership Series
The president of CHEP North America, Laura Nador, offered her perspective on a variety of business issues in the latest episode of CEO Thought Leadership Series on LinkedIn Live.
Mild Recession Expected as Economy Continues to Struggle
Economists are expecting a recession to hit later this year, but if and when it does, many of them expect it to be a mild one.
Recent Bank Failures Could Have Impact on Smaller Businesses, Experts Say
Recent bank failures like Silicon Valley Bank and Signature Bank should give small-business owners pause to wonder what effect will be felt by their businesses, experts say.
Zoom, Teams Still Driving a Shift in How Companies Communicate
The pandemic forced a change in how companies communicate with their staffs, and with the popularity of Zoom and Teams, that may not change any time soon.
Report Highlights Trends, Insights on West Michigan’s Development Sector
The Right Place recently issued a report highlighting development and economic trends in West Michigan.
New Community Transformation Fund Invests in Grain Technology to Provide Inclusive Access to Credit
GRAND RAPIDS, Mich. – New Community Transformation Fund, a Grand Rapids-based venture fund aimed at boosting businesses owned by people of color in West Michigan, has made a $500,000 investment in Grain Technology, Inc.,...
Uncle Peter’s Pasties Now Featured at Bridge Street Market in Grand Rapids
CLARKSTON, Mich. – Uncle Peter’s Pasties announced its pasties are now being offered at Bridge Street Market in Grand Rapids, a Meijer Brand store.
The company delivered its first shipment of pasties to the store...
GM Investing $632 Million in Fort Wayne Assembly for Future Truck Production
FORT WAYNE, Ind. — General Motors Co. announced plans to invest $632 million in Fort Wayne Assembly to prepare the plant for production of the next-generation internal combustion engine (ICE) full-size light-duty trucks. This investment will enable...
First-Time Unemployment Claims Hold Steady
While claims for unemployment assistance remained static last week, the four-week moving average saw a bit of a rise.
According to stastistics released Thursday by the Labor Department, first-time claims for unemployment assistance remained the...
Retail Sales Defied Inflation Rate to Rise 0.3% in May
The inflation rate in the U.S., which at a little more than 4% is twice as high as the government’s target rate, doesn’t seem to be stopping shoppers from making purchases.
According to a report...
Cost of Travel Drops as Airfares Decline 13% in May
Americans restricted from a lot of travel during the pandemic and now eager to get somewhere are benefitting from a fall in travel prices.
Bloomberg reported that figures released by the Bureau of Labor Statistics...
Cadillac V-Series.R and Corvette E-Ray Race into Forza Motorsport
DETROIT – During today’s Xbox Games Showcase, Turn 10 Studios unveiled gameplay showing the 2023 No. 01 Cadillac Racing V-Series.R race car and 2024 Chevrolet Corvette E-Ray, featured on the cover of the new “Forza...
Federal Reserve Pauses Interest Rate Hikes After 10 Straight Increases
After raising key interest rates 10 times in 15 months, the Federal Reserve announced Wednesday it is pausing rate hikes, at least for now.
GM Joins Ford in Connecting to Tesla Charging Network
DETROIT – General Motors Co. announced a collaboration with Tesla to integrate the North American Charging Standard connector design into its EVs beginning in 2025.
The collaboration will expand access to charging for GM EV drivers...
Unemployment Claims Climb to Highest Level Since October 2021
Just days after the U.S. economy added a robust – and better-than-exected – 339,000 jobs, applications for umemployment assistance rose to their highest levels in more than 18 months.
According to statistics released by the...
Consumer Confidence Takes a Dip in May
Consumers weren’t quite as optimistic in May as they were in April, if the latest Consumer Confidence Index is any indication.
Pessimism over the labor market – despite strong job numbers – and continuing anxiety...
