Corporate/Industrial News

FTX fiasco one of the most egregious cases of ‘gross negligence,’ says Ackman

Hedge-fund titan Bill Ackman appears to be walking back comments he made via Twitter last week about Sam Bankman-Fried that some interpreted as implicit support for the 30-something who presided over one of the most epic bankruptcies in financial markets in recent memory. Last week, Ackman tweeted that Bankman-Fried’s statements made during a widely watched …

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From CNN to Paramount, Perfect Storm in Media Propels Layoffs

An advertising slowdown, economic worries and strains of the shift to streaming have many major media companies in cost-cutting and layoff mode. News organizations, TV networks, movie and television studios, and entertainment giants laid off hundreds of workers over the past week alone, including Warner Bros. Discovery Inc.’s WBD -0.69% CNN and Paramount Global PARA …

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Here’s how to rent a sustainable Christmas tree for the greenest holiday ever and what retail and warehousing jobs falling in November reveals about the typical holiday shopper

Hi, MarketWatchers. Don’t miss these top stories. Greenest holiday ever? Here’s how to rent a sustainable Christmas tree There are ways to make ‘greener’ choices with your holiday evergreen. Read More Retail and warehousing jobs actually fell in November. It reveals a lot about the typical holiday shopper. Month to month, retail employment declined 30,000, …

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Tech Selloff Catches Up With Private Startups

Tech startups are plunging in value in private trades, mirroring the big markdowns of their publicly listed brethren over the past year. Before companies go public, their shares are often traded by employees, founders and institutions in secondary deals. The trades allow existing holders to cash out before a startup goes public, and buyers to …

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November Employment Report Shows US Economy Added 263,000 Jobs

The November payrolls gains compared with an upwardly revised 284,000 jobs in October, the Labor Department said Friday. Payrolls grew up in leisure and hospitality, healthcare and government. Retailers and transportation-and-warehousing companies cut jobs in a sign of weak holiday hiring. Average hourly earnings grew 5.1% in November from a year earlier, the department said. …

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Blackstone Limits Redemptions From Real Estate Vehicle, Stock Sinks

blackstone Inc. BX -7.09% Shares took a big hit after the investing giant’s real-estate fund aimed at wealthy individuals said it would limit redemptions. Blackstone Real Estate Income Trust Inc., more commonly known as BREIT, said Thursday in a letter posted to its website that the amount of withdrawals requested in October exceeded its monthly …

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Austan Goolsbee Named Next President of the Chicago Fed

Austan Goolsbee, who served as a top economic adviser to former President Barack Obama, will become the next president and chief executive of the Federal Reserve Bank of Chicago, the bank said Thursday. Mr. Goolsbee, 53, is a professor of economics at the University of Chicago’s Booth School of Business. He was chair of the …

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US Jobless Claims Fell Last Week, Showing Solid Labor Market

Applications for US unemployment benefits fell last week, consistent with a labor market that remains resilient despite signs of a broader economic slowdown. Initial jobless claims, a proxy for layoffs, decreased by 16,000 to a seasonally adjusted 225,000 last week, the Labor Department said Thursday. That was near the 2019 weekly average of around 218,000, …

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