Economy Holding Up Better Than Expected in Late 2022, But Still Clearly Slowing
The advance estimate for real GDP in the third quarter of 2022 was 2.6% in seasonally-adjusted annualized terms, better than expected—an upside surprise followed by better-than-expected data for October...
Amazon to Staff: Layoffs Will Extend Into New Year
Mass layoffs started at Amazon last week, and they apparently aren’t going to end any time soon.
Company CEO Andy Jassy said in a note to employees that the layoffs...
Retail Sales Increase ‘Well Above’ Market Expectations
Retail sales rose by 1.3% in October, well above market consensus for a 0.9% increase. Core (control) retail sales, which excludes volatile retail sub-sectors such as sales at gasoline...
Stellantis Acquires Autonomous Driving Software Startup
AMSTERDAM – Stellantis N.V. and aiMotive, a leading developer of advanced artificial intelligence and autonomous driving software, today announced that they have entered into an agreement for Stellantis to acquire...
BrightDrop Set to be One of the Fastest Companies in History to Reach $1...
PALO ALTO, Calif. – BrightDrop shared today with investors that it is on track to reach $1 billion in revenue in 2023, making it one of the fastest companies to...
Higher Rates Not Discouraging Consumers From Applying For Credit Cards
Inflation is still at a 40-year high and, in response, the Federal Reserve has raised interests rates five times this year, with more in the near future.
But none of...
‘Cyber Maturity’ a Key to Surviving Ransomware, Phishing Attacks
Knowing what information needs to be protected and putting in the proper safeguards can help fend off cybersecurity attacks.
GM Invests $45 Million to Expand Capacity for EV Drive Unit Castings
GM's $45 million investment in an Indiana factory designed to support demand for full-size EV pickups.
Bavarian Inn Lodge Plans $80 Million Indoor Water Park Expansion
Officials at the Bavarian Inn Lodge will break ground on an $80 million expansion project that will expand its water park amenities.
GM Expects North American EV Portfolio to be Profitable in 2025
NEW YORK – General Motors Co. (NYSE: GM) expects its rapidly growing portfolio of electric vehicles will be solidly profitable in 2025 in North America as the company scales EV...
Amazon Planning on Thousands of Cuts
Amazon plans to carry out massive layoffs, cutting roughly 10,000 jobs, as soon as this week, according to a report in The Washington Post.
If the e-commerce giant follows through...
Financial Markets Pare Back Fed Rate Hike Expectations
Consumer credit rose $25 billion in September, much lower than the $33 billion consensus estimate. Revolving credit, comprised mainly of credit card balances, rose 8.7% on the month, while...
Ford Announces Strategic Partnership With Manufacture 2030 to Enhance Supply Chain Sustainability
DEARBORN, Mich., Nov. 15, 2022 — Ford Motor Company and Manufacture 2030 announced today a strategic partnership to help Ford’s suppliers meet their carbon reduction targets toward Ford’s goal of...
Study Anticipates 15% U.S. Retail Sales Growth on Black Friday
According to Mastercard SpendingPulse, U.S. retail sales excluding automotive is expected to grow +15% on Black Friday compared to last year. Mastercard SpendingPulse measures in-store and online retail sales across...
SBA Calls on Americans to ‘Shop Small’ on Small Business Saturday Across America
WASHINGTON D.C. (Globe Newswire) — Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration called on Americans to “Shop Small” throughout this holiday season and on Small...
Companies Honored as National Best and Brightest in Wellness Winners
Dozens of companies were honored by the National Association for Business Resources as the Best and Brightest Companies in Wellness.
U.S. Inflation Eases in October for the Fourth Straight Month
Figures released by the government this week showed inflation in October eased to 8% from a year ago, the fourth straight monthly slowdown.
First-Time Unemployment Claims Dropped Last Week
First-time claims for unemployment benefits dropped by 4,000 last week.
Speaker To Capstone Audience: Equity Needle ‘Isn’t Moving Fast Enough’ for Women
Michelle Li, an award-winning reporter from St. Louis, served as the featured speaker at Inforum Michgan's annual Capstone event.
DTE Energy Foundation Unveils New Float, ‘Best for the World,’ to Debut in Thanksgiving...
The DTE Energy Foundation and The Parade Company revealed a new float set to make it's debut next week in the annual Thanksgiving Day parade in downtown Detroit.