Fed Saw Smaller Hikes Ahead to Assess Prior Moves, Minutes Show

“While the FOMC minutes continue to emphasize the need to contain inflation, there is also an emerging concern that the Fed could tighten more than necessary,” said Christopher Low, chief economist at FHN Financial. “There is an inkling of improvement on the supply side of the economy, there is a bit of hope in some … Read more

US Retail Sales Little Changed Last Month as Fuel, Autos Drop

Grocery store sales were up 0.2%, likely reflecting rising food prices rather than a significant uptick in purchasing activity. Data out last week showed the cost of groceries has surged 13.1% in the last year, the most since 1979. Sales at restaurants and bars, the only services’ component in the report, climbed 0.1%, the weakest … Read more

Glazer Family Open to Selling a Stake in Manchester United FC, Sources Say

The owners have held some preliminary discussions about the possibility of bringing in a new investor, the people said, asking not to be identified because the information is confidential. The American Glazer family is not yet ready to cede control of Manchester United, which could be valued at about £5 billion ($6 billion), the people … Read more

Knife crime: Former gang member says elderly should be chaperoned around London

17 August 2022, 15:29 | Updated: 17 August 2022, 15:36 This former gang member lifts the lid on the horrific world of gang initiation – warning that ordinary Brits can fall victim to robberies and even stabbings. London is on high alert after a number of stabbings were carried out in the capital over a … Read more

China Stock Investors Fixated on Covid Curbs Shrug Off Stimulus

“The biggest near-term risk to Chinese growth is its dynamic Covid-zero policy, which is offsetting the positive effects of Beijing’s cautious policy easing,” said Jessica Tea, senior investment specialist for Greater China equities at BNP Paribas Asset Management. “China would need to see further fiscal stimulus in order to help stabilize its GDP growth, and … Read more

Amazon Accuses FTC of Harassing Bezos in ‘Burdensome’ Probe

In a filing made public on Monday, Amazon claimed that FTC staff have made “unduly burdensome” demands as the agency investigates whether the company’s subscription services, including Amazon Prime, violate consumer protection laws. The online retailer is seeking to quash or limit the FTC’s most recent civil investigative demands, which are similar to subpoenas.

More Than 75% of US Businesses Prefer to Hire Freelancers in Uncertain Economy

About 78% of business leaders said they are more likely to hire freelancers rather than full-time employees while economic conditions remain uncertain, according to a survey by freelance marketplace Fiverr International Ltd. With economic uncertainty growing, 85% of US companies plan to implement a hiring freeze during the current downturn, and 78% plan to lay … Read more