News
New Jersey’s Department of Labor & Workforce Development said Tuesday that Uber Technologies Inc. UBER, -3.63% and a subsidiary submitted a $100 million payment to the agency’s Unemployment Trust Fund after an audit determined that the companies wrongfully classified nearly 300,000 drivers as independent contractors. In doing so, Uber and the Rasier LLC subsidiary “[deprived] […]
The U.S. dollar soared versus major rivals Tuesday after the August consumer price index came in hotter than expected, stoking expectations the Federal Reserve will continue aggressively tightening monetary policy in its effort to rein in price pressures. The ICE U.S. Dollar Index DXY, +1.44% a measure of the currency against a basket of six […]
AUDUSD, “Australian Dollar vs US Dollar” On H4, the quotes are under the 200-day Moving Average, which means the prevalence of the downtrend. A test of 4/8 is expected, followed by a breakaway and falling to the support level of 5/8. The scenario can be cancelled by breaking through 5/8, which might lead to a trend […]
Paramount Global PARA, -7.15% is mulling ending its Showtime streaming service, and folding its content into its Paramount+ service, according to a report in The Wall Street Journal. Citing people familiar with the situation, the WSJ report said the discussions surrounding the move, which would help streamline Paramount’s offerings, are still early. The report of […]
Oil futures settled lower on Tuesday, with Federal Reserve policy expectations “dominating the price action,” said Tyler Richey, co-editor of Sevens Report Research. The “hot” CPI print brought a 100-basis-point rate hike into play at the September meeting, he said. A more aggressive Fed in the months ahead, “will choke off growth and ultimately weigh […]
The Biden administration on Tuesday said it’s working with shippers, truckers and air-freight companies in the event of a freight-rail strike that could begin later this week. The White House is “working with other modes of transportation…to see how they can step in and keep goods moving” if rail workers strike at the end of […]