China’s bond market seems skeptical that recent stimulus will be enough
The People’s Bank of China in Beijing. While Chinese stocks have roared on Beijing’s stimulus jolt, the country’s bond market suggests there’s lingering skepticism. Early last week, policymakers announced a string of measures including interest-rate cuts, liquidity support, and reduced bank-reserve requirements. Stocks loved it, with China’s CSI 300 index soaring by 16% for its…
Globe Life hit with EEOC finding it “created, condoned” a work environment that is abusive to women
The U.S. Equal Employment Opportunity Commission has found that Globe Life tolerated a “pervasive pattern of harassing conduct” against women at one of its top-producing sales agencies. Many of the sexual harassers were so high up in the company that “they constitute alter egos or proxies” of Globe Life and one of its major divisions,…
Stock market today: US indexes drop as investors prepare for wave of jobs data this week
US stocks edged lower on Monday as investors prepare for a wave of employment data this week. Job openings data on Tuesday, the ADP employment report on Wednesday, initial jobless claims on Thursday, and the September jobs report on Friday are on the docket this week for investors to parse through. Economists expect about 145,000…
US homes are turning over at the lowest rate in 30 years
The housing market is seeing its lowest turnover rate in decades — a sign that mortgage rates and home prices may still be too high to convince buyers to get off the sidelines, according to a new report from Redfin. The real-estate-listings site found that just 2.5% of all US homes swapped hands in 2024…
Young Chinese are looking for dupes and cheaper substitutes for everything from Hermès to travel
Chinese consumers are on a budget and they’re not just scrimping on fashion. It’s now become a trend in China to save on nearly every consumer category, from luxury goods to everyday consumables to travel, with cheaper substitutes. It’s not an entirely new movement — because who doesn’t love a good bargain? — but its…
Tesla factory boss defends knocking on workers’ doors when they’re off sick at home
Tesla CEO Elon Musk speaks at the opening of the factory in Berlin in 2022. The boss of Tesla’s German factory has defended the decision to send managers to knock on workers’ doors while off sick. Tesla Gigafactory senior director André Thierig suggested that workers at the plant on the outskirts of Berlin had been…
How Prada is beating the odds and bucking the luxury slump
Prada has done what few luxury companies have been able to do this year: grow. Its sales and stock are both up, thanks to a hot streak at Miu Miu and a winning turnaround strategy. It took something surprisingly small — something that’s been described as “teeny tiny” and “ultra-cropped” — to propel Prada to…
JD Vance has broken through during the 2024 campaign in all the wrong ways
Polls show Sen. JD Vance of Ohio is the least liked of the major presidential nominees and their respective running mates. Sen. JD Vance of Ohio would like to reintroduce himself. He’ll get that chance on Tuesday night when the Republican vice presidential nominee debates Gov. Tim Walz in front of his largest audience yet.…
Crypto Bros 2024How a tiny tribe of fanatical investors could sway the election.
In the grand scheme of the 2024 election, cryptocurrency is not a big deal. It ranks extremely low on the list of priorities for most voters, if it even registers at all. Crypto isn’t really a big deal in the broader financial system either. And yet it’s playing a big role in politics, including at…
