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...We had a sharp decline in real wages, which was followed by strong growth in nominal wages as employees are trying to catch up on their lost income....
...The market reaction came after the Federal Open Market Committee voted unanimously to leave rates unchanged at a 23-year high of 5.25 per cent to 5.5 per cent....
...The Biden administration also intends to deny companies tax deductions on employees who are paid more than $1mn....
...Students at Munich’s technical university are able to take part in programmes at UnternehmerTUM as part of their degrees, where they are able to receive the same amount of credits as for an academic course...
...The board and federal judges issued injunctions in a handful of cases, ordering Starbucks to reinstate 34 fired employees, while dozens of cases are awaiting decisions. Starbucks has denied wrongdoing....
...The German insurance association recently warned of a “massive increase in payment defaults” after credit insurers paid out more than €1.2bn in 2023, up 44 per cent on 2022....
...said in a joint submission to the Federal Reserve, the Federal Deposit Insurance Corporate and the Office of the Comptroller of the Currency who are designing the rules....
...In the pre-2008 world of “reserve scarcity”, the Fed influenced credit conditions by tweaking the (low) supply of reserves in the overnight federal funds market....
...The federal structures are far too complex for that.”...
...Members of the United Steelworkers union have also voiced dismay....
...Switzerland’s largest trade unions and banking employee association have demanded that UBS and Credit Suisse pause all job cuts until the end of the year....
...Labour experts say there are signs of a historic switch in the relationship between companies and their employees, with the docility that had taken over Japanese labour unions during the past three decades...
...Your credit card bills are higher. That’s the brake pedal. It’s meant to slow spending....
...He founded a private bank in Russia right after the fall of the Soviet Union....
...and development, and hire new employees....
...Several lenders have upset employees by demanding they return to the office more days a week....
...Separately, the Swiss Bank Employees Association has called on Credit Suisse’s management team to set up a task force to manage the risk of mass job cuts....
...Monetary policy: John Williams, head of the Federal Reserve’s New York branch, will deliver remarks about the economic outlook at the Long Island Association....
...One part of the UK’s rail disputes has ended, after RMT union members accepted a pay offer from infrastructure owner Network Rail....
...It also played a key role advising on the $3.25bn sale of Credit Suisse to UBS....
...This has been driven in part by the Federal Reserve’s aggressive programme of interest rate rises to try to curb inflation in the US....
...To counter the IRA, the European Union has proposed a green industrial plan that would allow member countries to match subsidies for projects at risk of leaving the bloc....
..., credit unions, and other eligible depository institutions pledging U.S....
...in the Unite union at Heathrow airport begin a 48-hour strike in an ongoing dispute about pay....
...Recall that Congress has the Article I power “to borrow money on the credit of the United States.”...
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