Tech companies cap hiring as uncertainty loomsFor much of the past decade, tech companies have showered corporate employees with lavish compensation packages and luxe perks while hiring at a rapid clip. Now, they're pulling back, opting for caution as they prepare for a possible recession. The latest: Bloomberg reported Monday that Apple (AAPL), the most valuable US company, intends to slow hiring and spending growth next year in some divisions. Other tech firms, including Google parent ...

Tech companies cap hiring as uncertainty loomsFor much of the past decade, tech companies have showered corporate employees with lavish compensation packages and luxe perks while hiring at a rapid clip. Now, they're pulling back, opting for caution as they prepare for a possible recession. The latest: Bloomberg reported Monday that Apple (AAPL), the most valuable US company, intends to slow hiring and spending growth next year in some divisions. Other tech firms, including Google parent ...

Again, the general rule is that businesses that depend on so-called discretionary spending are in danger during economic downturns. The packed airports this summer might make this hard to believe, but jobs related to air travel, such as those in flight services and travel agencies, are at significant risk going forward. So are jobs in amusement parks, gambling, entertainment and tourism, where consumers can opt to cut back on their spending. Construction work is notorious for its boom-bust cy...

Again, the general rule is that businesses that depend on so-called discretionary spending are in danger during economic downturns. The packed airports this summer might make this hard to believe, but jobs related to air travel, such as those in flight services and travel agencies, are at significant risk going forward. So are jobs in amusement parks, gambling, entertainment and tourism, where consumers can opt to cut back on their spending. Construction work is notorious for its boom-bust cy...

Boeing suspended deliveries of the 787 after the FAA raised concerns about its proposed inspection method. The FAA had previously issued two airworthiness directives to address production issues for in-service airplanes and identified a new issue in July 2021. Boeing Chief Financial Officer Brian West said this week on an investor call that it had 120 of the 787s in inventory and was "making progress completing the necessary rework to prepare them for delivery." Boeing is "producing at very l...

Boeing suspended deliveries of the 787 after the FAA raised concerns about its proposed inspection method. The FAA had previously issued two airworthiness directives to address production issues for in-service airplanes and identified a new issue in July 2021. Boeing Chief Financial Officer Brian West said this week on an investor call that it had 120 of the 787s in inventory and was "making progress completing the necessary rework to prepare them for delivery." Boeing is "producing at very l...

In the plan, officials have proposed a voluntary target for its 27 member states to reduce their gas demand by 15% between August and March next year. The Commission also hopes to pass a new law that would give it the power to impose mandatory gas reduction targets on states during times of severe shortages. Europe has already managed to whittle down Russia's share of its gas supply from 40% last year to just 20% in June, according to economics think tank Bruegel. Germany, the bloc'...

In the plan, officials have proposed a voluntary target for its 27 member states to reduce their gas demand by 15% between August and March next year. The Commission also hopes to pass a new law that would give it the power to impose mandatory gas reduction targets on states during times of severe shortages. Europe has already managed to whittle down Russia's share of its gas supply from 40% last year to just 20% in June, according to economics think tank Bruegel. Germany, the bloc'...

Last year Toyota reported 10.5 million total car sales in 2021, outpacing Volkswagen by more than 1.5 million. Pre-pandemic in 2019 Volkswagen had edged out Toyota by 200,000 cars with 10.9 million vehicles sold. What's more, Volkswagen shares have also lagged under Diess, gaining only about 10% since he was named CEO in 2018 — far below Toyota (TM)'s 60% gains in that time. So far this year, Volkswagen (VLKAF)'s Germany-listed shares are down 28%. * As part of the management m...

Last year Toyota reported 10.5 million total car sales in 2021, outpacing Volkswagen by more than 1.5 million. Pre-pandemic in 2019 Volkswagen had edged out Toyota by 200,000 cars with 10.9 million vehicles sold. What's more, Volkswagen shares have also lagged under Diess, gaining only about 10% since he was named CEO in 2018 — far below Toyota (TM)'s 60% gains in that time. So far this year, Volkswagen (VLKAF)'s Germany-listed shares are down 28%. * As part of the management m...

"This tax will have the largest negative effects on large, growing companies that only recently met the income threshold," its analysts said. The tax on stock buybacks would have an effect on oil and gas companies as well. Moody's Investors Service noted that while its implementation "is not likely to significantly affect the volume of share repurchases, it could be a considerable source of tax revenue over the next couple of years." The Tax Foundation, in its analysis, found that the re...

"This tax will have the largest negative effects on large, growing companies that only recently met the income threshold," its analysts said. The tax on stock buybacks would have an effect on oil and gas companies as well. Moody's Investors Service noted that while its implementation "is not likely to significantly affect the volume of share repurchases, it could be a considerable source of tax revenue over the next couple of years." The Tax Foundation, in its analysis, found that the re...

SK Group had already earlier this year committed $30 billion in the United States by the end of 2025. Biden and Chey said Tuesday that the new investment was on top of that. The news came as SK Hynix, the group's chipmaking unit, warned Wednesday that it expected sales of some electronics to drop in the coming months. While the company enjoyed strong sales in the second quarter — with its revenue reaching a record high — it anticipates a slowdown in demand for memory chips in the second ...

SK Group had already earlier this year committed $30 billion in the United States by the end of 2025. Biden and Chey said Tuesday that the new investment was on top of that. The news came as SK Hynix, the group's chipmaking unit, warned Wednesday that it expected sales of some electronics to drop in the coming months. While the company enjoyed strong sales in the second quarter — with its revenue reaching a record high — it anticipates a slowdown in demand for memory chips in the second ...

Pour one out for Choco Taco. The beloved Klondike product, packaged ice cream in a taco-shaped cone, has been discontinued. "Over the past 2 years, we have experienced an unprecedented spike in demand across our portfolio and have had to make very tough decisions to ensure availability of our full portfolio nationwide," a Klondike Brand representative told CNN Business in an email, adding "we know this may be very disappointing." * You could possibly still find Choco Tacos around as sellers r...

Pour one out for Choco Taco. The beloved Klondike product, packaged ice cream in a taco-shaped cone, has been discontinued. "Over the past 2 years, we have experienced an unprecedented spike in demand across our portfolio and have had to make very tough decisions to ensure availability of our full portfolio nationwide," a Klondike Brand representative told CNN Business in an email, adding "we know this may be very disappointing." * You could possibly still find Choco Tacos around as sellers r...

NUMBER OF THE DAY: 98%Macao's casinos are hemorrhaging cash under China's strict Covid-19 lockdown orders. The former Portuguese colony-turned-gambling mecca was already hamstrung by the drop in travel during the pandemic, and now analysts are predicting things are about to go from bad to worse. Gross gambling revenue is expected to fall 98% this month compared with July 2019 — and that's assuming casinos reopen next week.RATIONING BEGINSTemperatures are scorching across Europe...

NUMBER OF THE DAY: 98%Macao's casinos are hemorrhaging cash under China's strict Covid-19 lockdown orders. The former Portuguese colony-turned-gambling mecca was already hamstrung by the drop in travel during the pandemic, and now analysts are predicting things are about to go from bad to worse. Gross gambling revenue is expected to fall 98% this month compared with July 2019 — and that's assuming casinos reopen next week.RATIONING BEGINSTemperatures are scorching across Europe...

Squeri also said the company's credit performance "remains exceptional, with delinquencies and write-offs near historical lows." That said, AmEx also built a small credit reserve in the quarter. Squeri said during a conference call with analysts that the company is keeping a close eye on labor-market data, saying that there is a correlation between "people losing their jobs and not being able to pay their bills." "So that's potentially an issue down the road," he said. * Yet AmEx is...

Squeri also said the company's credit performance "remains exceptional, with delinquencies and write-offs near historical lows." That said, AmEx also built a small credit reserve in the quarter. Squeri said during a conference call with analysts that the company is keeping a close eye on labor-market data, saying that there is a correlation between "people losing their jobs and not being able to pay their bills." "So that's potentially an issue down the road," he said. * Yet AmEx is...

Early in the pandemic, people realized they were going to be spending a lot more time at home. So they decided to upgrade. Shoppers dished out for new sofas, beds and decor, remodeled their kitchens and backyards and invested in their remote work setup. Demand was so hot that it broke global supply chains and caused lengthy delays for goods. It all meant boom times for online retailer Wayfair (W) and companies such as Williams-Sonoma (WSM), RH (RH), Bed Bath & Beyond (BBBY), Overstock (OSTBP)...

Early in the pandemic, people realized they were going to be spending a lot more time at home. So they decided to upgrade. Shoppers dished out for new sofas, beds and decor, remodeled their kitchens and backyards and invested in their remote work setup. Demand was so hot that it broke global supply chains and caused lengthy delays for goods. It all meant boom times for online retailer Wayfair (W) and companies such as Williams-Sonoma (WSM), RH (RH), Bed Bath & Beyond (BBBY), Overstock (OSTBP)...

In IT services, "you are selling bodies and you say yes to everything the customer says," said Krishnamoorthy. SaaS companies, on the other hand, have to say no to 99% of [potential] customers, he added. And India's startup ecosytem is still relatively immature when compared to Silicon Valley. Despite the massive size of some homegrown unicorns, Mathrubootham said that the country does not have a "global tech powerhouse product brand." * But he hoped that future SaaS companies can change...

In IT services, "you are selling bodies and you say yes to everything the customer says," said Krishnamoorthy. SaaS companies, on the other hand, have to say no to 99% of [potential] customers, he added. And India's startup ecosytem is still relatively immature when compared to Silicon Valley. Despite the massive size of some homegrown unicorns, Mathrubootham said that the country does not have a "global tech powerhouse product brand." * But he hoped that future SaaS companies can change...