Ex-Morgan Stanley diversity officer says bank slashed her budget by 71%

Ex-Morgan Stanley diversity officer says bank slashed her budget by 71%
FILE PHOTO: The headquarters of Morgan Stanley is seen in New York January 9, 2013. REUTERS/Shannon Stapleton NEW YORK (Reuters) – A lawyer representing a former Morgan Stanley (MS.N) diversity officer who is suing the bank over racial discrimination said on Wednesday the bank cut her client’s budget for promoting diversity and financial education by 71% from the time she... Read More

Systemic racism slows down economic growth, Dallas Fed chief says

Systemic racism slows down economic growth, Dallas Fed chief says
FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan speaks at the Commonwealth Club in San Francisco, U.S., October 11, 2019. REUTERS/Ann Saphir WASHINGTON (Reuters) – Systemic racism and high unemployment levels among black and Hispanic Americans create a drag on the U.S. economy, Dallas Federal Reserve President Robert Kaplan said on Sunday. “A more inclusive economy where everyone has... Read More

What rebound? North Dakota in economic crunch as virus batters oil, agriculture

What rebound? North Dakota in economic crunch as virus batters oil, agriculture
NEW YORK/CHICAGO (Reuters) – When the novel coronavirus first appeared in the United States, North Dakota was in the envious position of having more money in its state coffers than it had budgeted. FILE PHOTO: Pumpjacks taken out of production temporarily stand idle at a Hess site while new wells are fracked near Williston, North Dakota November 12, 2014. REUTERS/Andrew... Read More

U.S. inflation subdued with economy in recession

U.S. inflation subdued with economy in recession
WASHINGTON (Reuters) – U.S. consumer prices fell for a third straight month in May and underlying inflation was weak as demand for goods and services remained subdued amid a recession caused by the COVID-19 pandemic. FILE PHOTO: A shopkeeper works inside his retail store as the phase one reopening of New York City continues during the outbreak of the coronavirus... Read More

Weak demand keeps U.S. inflation subdued

Weak demand keeps U.S. inflation subdued
WASHINGTON (Reuters) – U.S. consumer prices fell for a third straight month in May and underlying inflation was weak as demand for goods and services remained subdued amid a recession caused by the COVID-19 pandemic. FILE PHOTO: A shopkeeper works inside his retail store as the phase one reopening of New York City continues during the outbreak of the coronavirus... Read More

‘Am I going to get shot?’ kids ask, as brands try to explain racism and violence to children

‘Am I going to get shot?’ kids ask, as brands try to explain racism and violence to children
NEW YORK (Reuters) – For 8 minutes and 46 seconds – the length of time it took George Floyd, an unarmed black man, to die at the hands of Minneapolis police – cable TV kids channel Nickelodeon’s screen went black on Tuesday to sounds of inhaling and exhaling, as white text flashed “I can’t breathe.” FILE PHOTO: FILE PHOTO: Muppets... Read More

U.S. labor market unexpectedly improves; recovery years away

U.S. labor market unexpectedly improves; recovery years away
WASHINGTON (Reuters) – The U.S. economy unexpectedly added jobs in May after suffering record losses in the prior month, offering the clearest signal yet that the downturn triggered by the COVID-19 pandemic was probably over, though the road to recovery could be long. The Labor Department’s closely watched employment report on Friday also showed the jobless rate falling to 13.3%... Read More

U.S. labor market unexpectedly improves, but recovery expected to be a slog

U.S. labor market unexpectedly improves, but recovery expected to be a slog
WASHINGTON (Reuters) – The U.S. economy unexpectedly added jobs in May after suffering record losses in the prior month, offering the clearest signal yet that the downturn triggered by the COVID-19 pandemic was probably over, though the road to recovery could be long. FILE PHOTO: A “We’re Hiring” sign advertising jobs is seen at the entrance of a restaurant, as... Read More

Tech stocks have been a winning bet, but investors worry it will fade

Tech stocks have been a winning bet, but investors worry it will fade
NEW YORK (Reuters) – A bet on tech companies has been a solid one in the aftermath of the coronavirus-induced market crash, but some investors are questioning whether those stocks can maintain their momentum if jobs do not recover soon. Traders wearing masks work, on the first day of in person trading since the closure during the outbreak of the... Read More