AWS faces cost-sensitive customers at Reinvent as economic anxiety mounts

Amazon Web Services has been the biggest growth engine for its parent company for much of the past decade, acquiring business from some of the largest technology providers in the world. But as companies face the most terrifying economic environment since the 2008 financial crisis, the massive checks they write to AWS for their tech … Read more

The Fed’s path to a “Goldilocks” economy has only gotten more complicated

On December 2, 2022 in New York City, a “help wanted” sign hangs in a window of a Manhattan store. Spencer Plat | Getty Images As for the jobs reports, November was not exactly what the Federal Reserve was looking for. A higher-than-expected payroll and a high wage reading that was twice what Wall Street … Read more

35% of millionaires say they won’t have enough to retire, report finds

A cool $1 million isn’t what it used to be. There are more millionaires in the US and worldwide than ever before, with nearly 24.5 million millionaires nationwide as of 2022, according to the latest Global Wealth Report from the Credit Suisse Research Institute. Still, having seven figures in the bank offers less security than … Read more

G-7 outlines how it’s going to work

Russian President Vladimir Putin Contributor | Getty Images News | Getty Images The European Union agreed on Friday to limit the Russian marine oil price to $60 a barrel, after several days of intense negotiations over an appropriate level. The announcement comes after the G-7 group of advanced economies agreed in September to impose a … Read more

The US wants the EU to be tough on China. But Europe cannot afford it

US President Joe Biden and Emmanuel Macron, the President of France, met at the White House. Bloomberg | Bloomberg | Getty Images The United States has stepped up its heavy rhetoric against China and wants Europe to follow suit. But the block can’t quite afford to do the same. The US administration has been particularly … Read more

Payrolls and wages are exceeding expectations and flying in the face of Fed rate hikes

An employee works at the BMW plant in Greer, South Carolina, October 19, 2022. Bob Strong | Reuters Job growth was much better than expected in November, despite aggressive efforts by the Federal Reserve to slow down the labor market and tackle inflation. Nonfarm payrolls rose by 263,000 this month while the unemployment rate stood … Read more

5 things you need to know before the stock market opens on Friday, December 2

A GE AC4400CW diesel-electric locomotive in Union Pacific livery, is seen ahead of a potential strike if a deal is not reached with railroad workers unions, as a Metrolink commuter train (right) arrives at Union Station in Los Angeles, California, September 15, 2022. Bing Guan | Reuters Here are the most important news items investors … Read more

Oil production cuts on the table awaiting Russian sanctions

OPEC+, a group of 23 oil-producing countries led by Saudi Arabia and Russia, will meet on Sunday to decide on the next phase of production policy. Bloomberg | Bloomberg | Getty Images OPEC and non-OPEC oil producers could impose deeper oil production restrictions on Sunday, energy analysts said, as the influential energy alliance weighs the … Read more

South Korea Inflation, US Jobs Report, China Covid Zero

South Korea’s November inflation beat expectations South Korea’s annual inflation rate for November came in at 5%, lower than the 5.1% estimates requested by a Reuters poll. The latest reading marks a slight easing of 5.7% in October and after a record high of 6.3% in July. – Jihy Lee “No one wants to be … Read more

Powell Inflation notes a “green light” to stay in stocks

CNBC’s Jim Cramer said Thursday that Federal Reserve Chairman Jerome Powell reaffirmed with his comments about inflation the day before that inventors should not leave the market over fears of a recession. “Unless the super-aggressive Fed heads who want to raise short rates to 5% to 7% are silenced, we should be ready with a … Read more