First-time claims for U.S. unemployment benefits unexpectedly inched higher in the week ended July 9th, according to a report released by the Labor Department on Thursday. The report showed initial jobless claims crept up to 244,000, an increase of 9,000 from the previous week’s unrevised level of 235,000. The uptick surprised economists, who had expected jobless claims to come in […]

Inflation has started to cripple the U.S. economy. Consumer prices, as measured by the consumer price index, were 9.1% higher this June compared to the same time last year. This rate of inflation is a four-decade high. The prices of many essential items have risen by double digits. The items that increased the most in price include such everyday necessities […]

The Philippines’ central bank raised its key interest rate in a surprise move on Thursday to curtail broadening inflationary pressures, as policymakers assessed that the strong rebound in the domestic economy this year can tolerate further tightening of monetary policy. The Monetary Board, led by Governor Felipe Medalla, decided to raise its benchmark overnight reverse repurchase facility rate by 75 […]

Due to global risk aversion on the back of geo-political tensions and aggressive policy tightening by the Fed, the dollar has appreciated against most currencies, including the rupee. A depreciating rupee, which briefly hit 80 to the dollar on Tuesday, may boost India’s exports but price-inelastic imports of crude oil and gold would mean limited relief on the trade deficit, […]

With the Federal Reserve’s next monetary policy decision looming toward the end of the month, the central bank released its latest Beige Book on Wednesday. The Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, noted U.S. economic activity has expanded at a modest pace since mid-May. However, the Fed said several […]

Screenwriter Lee Goldberg is suing two production companies in a dispute over the late James Caan’s last film, the crime drama Fast Charlie. Fast Charlie is director Phillip Noyce’s take on Victor Gischler’s Edgar Award-nominated novel Gun Monkeys. It centers on Charlie Swift (Pierce Brosnan), who has worked for aging mob boss Stan (Caan) for 20 years, skillfully operating as […]

Chipmaker Microsoft Corp. (MSFT) on Tuesday announced a new portal Viva Engage, coming to the Teams communication app, which would let co-workers share video stories documenting their activities. The portal is expected to make the Teams app livelier. The chat app had over 270 million active users in January. The app is the main component of Microsoft Office, which contributes […]

Private equity firm RedBird Capital Partners and private markets investment outfit StepStone Group have acquired a majority stake in Talent Systems, a key player in the casting business. Based in LA, Talent Systems has casting software and operates a talent marketplace for the entertainment industry. It was formed by Co-CEOs Rafi Gordon and Alex Amin. As of 2021, it had […]