The struggles continue for Hemlock Semiconductor Corp. as the company announces plans to eliminate 100 jobs. The job losses will all take place in Michigan, with the majority taking place in the first quarter of 2018. The company, which employees around 800 full-time employees and 800 full-time contracts, will notify the affected workers “in the (more…)
Kroger Co (NYSE:KR) said at its annual investor conference that it is looking at selling off its gas station convenience store business, including KwikShop, Loaf’N Jug, and Turkey Hill Minit Markets. The supermarket giant has been facing increased competition from Wal-Mart Stores Inc (NYSE:WMT), Amazon.com, Inc. (NASDAQ:AMZN), and Costco Wholesale Corporation (NASDAQ:COST) and is hoping (more…)
St. Charles Health Systems has announced layoffs, buyouts, pay cuts, and other streamlining efforts to plug a budget shortfall of up to $35.0 million. The health system blamed the shortfall on higher costs, lower revenue, and the Oregon State Legislature. These measures have resulted in 30 St. Charles Health Systems layoffs and buyouts to 75 (more…)
Donald Trump’s Long-Promised GDP Growth Rates Are Unlikely in Next Few Years, Economists Say The U.S. economy will grow by two percent in 2017 and 2018, according to a survey of nearly four dozen economists by the National Association for Business Economics (NABE), a far lower mark than the three-percent target that President Donald Trump (more…)
Slowdown in Manufacturing Industry and Housing Market Remain Significant The United States may be headed for an economic slowdown, according to the Federal Reserve Bank of Chicago’s latest report. The study shows that the American economy contracted in August.
Robert Shiller, the Nobel Prize-winning economist that teaches at Yale University, has a warning for investors: stocks today look a lot like they did at the peak before the last 13 previous price collapses. This doesn’t mean stocks are going to crash next week, but it does mean investors shouldn’t be complacent.
Employees Face Furloughs or Layoffs as Ford Idles Plants America’s second-largest automaker has been forced to cut back on production as it faces a slowdown in sales. Ford Motor Company is temporarily idling work at five of its factories—three in the United States and two in Mexico—in order to bring production in line with demand.
Retail Sales Post a Drop in August as Americans Buy Fewer Cars and Clothes August sales data disappointed as retail and food sales posted a 0.2% drop, compared to July. It turns out that even Amazon.com, Inc. couldn’t save the industry from disappointment.
Gold prices hit $1,350 an ounce on Thursday as concerns grow about the state of the U.S. economy. While some investors are pointing at escalating tensions with North Korea as the reason for the spike in gold prices, tensions in Washington over the last number of months, followed by weak economic indicators, and the weak (more…)
Privately held The LEGO Group announced plans to axe 1,400 jobs, or about eight percent of its global workforce, after revealing that sales have fallen for the first time in a decade.