Recession signal

In another monumental 6-3 ruling, the U.S. Supreme Court on Friday eliminated the federal right to an abortion, striking down the protection granted by the Roe v. Wade decision in 1973 and now leaving rights and regulations to states. advertisement advertisement The consequences of the decision in Dobbs v. Jackson Women’s Health Organization will be severe, and in some cases, immediate: Many states have “trigger bans,” allowing abortion prohibitions to go into law right away. Other states intended to put into place bans after the decision was published, which was all but certain following a leak of the draft in May. But the consequences of the broad decision could be even more far-reaching than women’s rights to abortions, namely placing in danger the legal rights to contraception, same-sex marriage, and even private sexual relationships. The basis of the decision, in the opinion written by Justice Samuel Alito, was that the right to abortion … [Read more...] about This line in the Supreme Court abortion ruling signals gay marriage and contraception could be next

Share to Twitter Share to Linkedin The Oklahoma mogul spoke to Forbes about how he's protecting his investments ahead of the “near certainty” of a recession. With the S&P 500 entering a bear market last week , many of America’s billionaires are convinced that a recession is in the offing . George Kaiser , one of the wealthiest people in Oklahoma with an estimated $9.5 billion fortune, is one of them. Kaiser, 79, told Forbes that a “recession seems a near certainty” and that he expects the economy to tip into a downturn in the first two quarters of 2023, with a prolonged dip in the stock market. The timing of the market bottoming out—the point at which the stock market hits a low and begins rising again—is still far off, according to Kaiser. “Historic analogies would suggest a 35% total drop from the peak, but that history is largely irrelevant since so many of the factors are unique,” he said. Kaiser, who has appeared on the Forbes … [Read more...] about Oil And Banking Billionaire George Kaiser Says Market Bottom Is Still Far Off

(Representative image: Reuters) Dear Reader, A whiff of change wafted through the markets this week. The focus shifted from worrying over inflation to concerns about growth. The advance Purchasing Managers Indices (PMIs) for the current month for the US and the Eurozone showed slowing growth, but while they indicated inflation was cooling in the US, it continued to rise relentlessly in the Eurozone. They also reflected stalling demand and falling business confidence. The New York Fed’s economic model predicted an 80 percent chance of a hard landing for the US. UK consumer confidence hit a record low. In China, housing starts and property transactions reached extreme lows. The worries over an imminent recession in the US, the UK and the Eurozone sent commodity prices sharply lower. Copper prices have moved down dramatically. My colleague Ravi Ananthanarayanan wrote about the dark clouds hovering over steel . Crude oil prices too fell. That dissipated some of the … [Read more...] about MC Pro Weekender | A new narrative

Nilekani, in his Chairman’s address, stressed on the company’s One Infosys Approach, saying it helped the company deliver its fastest growth in a decade. Challenges such as slowing growth, supply chain disruptions, soaring inflation, rapidly rising interest rates, and fears of a recession present an opportunity to transition to new ways to gain market share, Infosys Chairman Nandan Nilekani said on June 25. Addressing shareholders at the company’s 41st Annual General Meeting, Nilekani said, corporate leaders are having to deal with challenges in a post-pandemic world, and along with the above challenges, there is potential to help them. The AGM’s agenda — along with approving of financial statements — also included the reappointment of CEO Salil Parekh and the approval of his new compensation. Salil Parekh’s proposed compensation, for his second term till March 2027, is Rs 79.75 crore annually, up 88 percent from FY22. Shareholders approved his salary hike, making him one of … [Read more...] about Challenges present opportunity for Infosys to gain market share: Nandan Nilekani

Wall Street's main indexes rose over 1% on Friday as signs of slowing economic growth and falling commodity prices tempered expectations over how high the Federal Reserve will raise interest rates to rein in inflation. Global financial markets have been roiled this month on worries that rapid rate hikes by major central banks could cause a recession, with the benchmark S&P 500 (.SPX) confirming a bear market last week as it recorded a 20% drop from its January closing peak. The three main indexes on Friday looked set to notch their first weekly gain in four, boosted by megacap growth stocks and defensive sectors such as healthcare and utilities seen as safer bets during times of economic uncertainty. "Conversations about the U.S. economy likely slowing which could lessen the hawkishness of the Fed, combined with lower commodity prices and bond yields - these are reasons investors are mentioning to justify why we could experience a near-term bounce," said Sam Stovall, … [Read more...] about Wall Street rallies as traders dial back rate-hike bets

Wall Street, New York City (File image: Reuters) Wall Street's main indices soared on Friday in a broad rally as signs of slowing economic growth and a recent pullback in commodity prices tempered expectations for the Federal Reserve's rate-hike plans. The S&P 500 rose over 3% for its biggest one-day percentage rise since May 2020. All 11 of the benchmark index's sectors ended at least 1.5% higher. Stocks rebounded this week as financial markets have been roiled over worries that rapid rate hikes by the Fed to rein in 40-year-high inflation could cause a recession. Still, investors have been gauging when the market might hit its bottom after the benchmark S&P 500 earlier this month recorded a 20% drop from its January closing peak, confirming the common definition of a bear market. "Some of the moves, the sellers just get exhausted so you don’t have as much capital moving out," said Shawn Cruz, head trading strategist at TD Ameritrade. "This might be a … [Read more...] about Wall Street mints big gains to end a strong week

Representative image Some corporate leaders are grasping at whatever they can to get back to the way things were. But they might find themselves fighting a culture shift beyond their control. As long as work has existed, employers have tried to size up their employees’ commitment to their jobs. Are you on the fast track? The mommy track? The leadership track? Now, if some corporate leaders have their way, there will be a new test for workplace devotion — and anyone who opts for remote work gets a failing grade. But can C.E.O.s really claw their way back to 2019? This past week, Elon Musk issued an ultimatum to Tesla and SpaceX employees requiring them to return to the office for at least 40 hours per week — or lose their jobs. Mr. Musk, who is known for having camped out for weeks at Tesla factories, thinks remote work is an affront to productivity and personal commitment. Last month, he praised Chinese workers for “burning the 3 a.m. oil,” comparing them with … [Read more...] about The Office Monsters Are Trying to Claw Their Way Back to 2019

Lawmakers were instructed not to exit the Arizona state capitol as protestors gathering outside the building created a “hostage” situation late Friday night into early Saturday morning. “Violent anti-abortion protestors attempts of an insurrection at the Arizona State Senate were thwarted Friday night, thanks to the swift action from local and state law enforcement,” the Arizona State Senate said in a press release . “Protesters threatened to break the AZ Senate entryway glass,” Arizona State Senator Wendy Rogers tweeted . Police used tear gas to disperse the protestors and regain control of the building, according to Fox News . “We are currently there being held hostage inside the Senate building due to members of the public trying to breach our security,” State Senator Kelly Townsend wrote on Twitter. (RELATED: Rep. Ocasio-Cortez Attempts To Incite People Into ‘The Streets’ Outside Supreme Court) State Senator Warren Peterson said several of his fellow … [Read more...] about Pro-Abortion Protest Turns Violent: Lawmakers ‘Held Hostage’ In Arizona Capitol

Share to Twitter Share to Linkedin Earlier this week, Ars Electronica announced the winners of this year’s “Golden Nicas” in the Prix Ars Electronica media art awards. In the category “Interactive Art +”, the winners were Jung Hsu and Natalia Rivera of Berlin University of the Arts, who designed a solution to make socially distanced protests more impactful. It’s called Bi0film.net and it’s inspired by the way that bacteria form networks and communicate with each other. Hsu and Rivera noticed how social distancing measures during the COVID-19 pandemic had affected the way that people were able to practice acts of civil resistance, when banding together in a large crowd was no longer possible. In the description of their award-winning project ​​”Bi0film.net: Resist like bacteria” , they write, “bacteria, which were here long before us, have developed amazing technologies of distributed communication and self-organized collaboration.” One example … [Read more...] about Bacterial Communication Inspires Artists To Design A Decentralized Wifi Network For Protestors

Share to Twitter Share to Linkedin According to a news release by REUTERS and social media posts by the Parco Archeologico Pompei , the preserved remains of a land tortoise with still its egg inside the body cavity have been unearthed by archaeologists in Pompeii, the Roman city buried by the eruption of Mount Vesuvius almost 2,000 years ago. The 14-centimeter long (5.5-inch long) Hermann's tortoise ( Testudo hermanni ) and her egg were discovered during recent archaeological excavations hidden under the clay floor of a building. "It had dug itself a burrow where it could lay its egg, but failed to do, which may have caused its death," said Valeria Amoretti, who works as an anthropologist at the site. The discovery allows archaeologists to reconstruct the last years of Pompeii, devastated by an earthquake in the year 62 and finally destroyed and buried by pyroclastic flows during the eruption of Mount Vesuvius in 79. The building - … [Read more...] about Remains Of Land Tortoise Shed Light On The Last Years Of Pompeii