President Joe Biden this week called for higher taxes on wealthy Americans to boost Medicare as part of his 2024 budget. Here’s what to know about the plan.
Stocks making the biggest moves midday: Stitch Fix, Tesla, WeWork, Campbell Soup and more
Stitch Fix fell on disappointing quarterly results.
Job openings declined in January but still far outnumber available workers
The Labor Department’s Job Openings and Labor Turnover Survey showed there are 10.824 million openings, down some 410,000 from December.
Watch Fed Chair Jerome Powell speak live in second day of Capitol Hill testimony
On Tuesday, Powell told the Senate Banking Committee that the central bank could raise interest rates moer aggressively if inflation data remains strong.
Private payrolls rose by 242,000 in February, better than expected, ADP says
Companies added jobs at a brisk pace in February as the labor market kept humming, payroll services firm ADP reported Wednesday.
No exit ramp for Fed’s Powell until he creates a recession, economist says
The U.S. Federal Reserve is likely to hike interest rates to at least 6.5% if the economy does not enter a mid-year recession, according to TS Lombard Chief U.S. Economist Steven Blitz.
China plans to revamp finance, tech oversight
China plans to overhaul its financial regulatory system by consolidating aspects of the central bank and securities regulator under a new entity.
BlackRock says the Federal Reserve could hike interest rates to a peak of 6%
BlackRock’s chief investment officer of global fixed income Rick Rieder wrote in response to Fed Chair Jerome Powell’s testimony before a Senate committee.
One of Europe’s biggest banks is quickly rotating job roles to help women get to the top
The finance industry needs to be faster at getting women into management positions, according to Santander Executive Chair Ana Botin.
Warren Buffett’s Berkshire Hathaway buys more Occidental Petroleum shares
Warren Buffett’s Berkshire Hathaway added to its already large Occidental Petroleum stake over the past trading sessions.