Economic News
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GlobalFoundries to open 2 new chip plants in New York with $21 billion in financing from Japan
Semiconductor contract manufacturing and design company GlobalFoundries Inc. says it plans to open two chip-making factories in Malta, New York, financed by an investment of up to $21 billion from Japan
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Netflix is laying off 6% of its workforce, in biggest round of job cuts at streaming giant in years
Netflix plans to lay off about 6% of its workforce as part of wider organizational changes
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Inflation worsened last month to 3.7% in sign that prices remain elevated as midterm elections near
U.S. inflation accelerated last month as gas, clothes, and air fares got more expensive, evidence that rising prices remain an economic challenge just a few weeks before the midterm elections
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China’s trade surplus nears record as pressure mounts from trading partners
China’s trade surplus reached $938 billion for the first nine months, with expectations growing that it could surpass last year’s full-year $1.2 trillion record
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House Democrats plan a first 100-days agenda if they sweep to power in midterm elections
Democrats are preparing an ambitious 100-days agenda if they win the House majority in the midterm elections
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Kroger to lay off 3,000 corporate employees over 3 years as it leans into artificial intelligence
Grocery store chain Kroger says it will lay off 3,000 corporate employees over the next three years as it ramps up its use of artificial intelligence to streamline operations
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Republicans face midterm backlash from factory workers squeezed out of jobs by Trump's tariffs
President Donald Trump's tariffs are turning factory workers against his Republican Party over fears the import taxes could lead to fewer jobs instead of the manufacturing renaissance he promised
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IMF raises its forecast for world growth this year but warns of risks from AI boom and debt
The International Monetary Fund has slightly upgraded its outlook for the world economy for this year, but it's forecasting growth at a still sluggish 3.1%
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Big banks post strong Q3 profits, but warn higher rates and inflation could bite
Wall Street’s biggest banks have reported another strong quarter as U.S. consumers continue to pay bills and businesses invest in AI
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I thought I had these 3 retirement topics figured out. Here’s why I changed my mind
Lessons for retirees and preretirees on target-date funds, TIPS funds, and asking for help
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