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Apple to Take Actions Against Employees Who Don’t Work 3 Days Per Week From Office
iPhone maker Apple has become the latest tech giant to try and take down the “remote work” culture. According to Platformer’s editor Zoe Schiffer, Apple has started tracking employee attendance to see which workers are complying with the company’s “work from home” policy. Those...
Rivian Relocating Staff Illinois Factory in Attempt to Ramp Up EV Production
Electronic cars company Rivian will try to ram up its production by having more hands on deck at its Normal, Illinois plant. According to The Wall Street Journal, Rivian has been recently making moves to get a large chunk of its engineering team relocated...
Natural Gas Futures Up Amid Colder Weather Forecasts
U.S. natural gas futures were up by around 3% on Friday, thereby rebounding from a one-month low during the previous session. This comes after forecasts confirmed that weather is due to remain colder than has been expected historically for the next two weeks.
Front-month gas...
Banks’ Borrowing From Fed Remains High Despite Reduction
U.S. banks reduced their borrowing from the Federal Reserve marginally last week, with central bank data on Thursday showing a combined $163.9 billion in outstanding borrowings for the week of March 22, when the Fed implemented its latest 25-basis point hike.
While down from the...
Oil Declines As Investors Weigh Fed Decision; Mixed Supply And Demand
Oil fell on Thursday as investors weighed the latest Federal Reserve interest rate decision as well as a mixed outlook on oil supply and demand. West Texas Intermediate futures were trading between $70 and $71 per barrel; a similar level to Fed Chair Jerome...
Amazon Doubles Down On Layoffs, Will Trim Its Workforce by Another 9,000 Employees
Amazon continues to trim its workforce as the company looks to cut costs and run a more efficient organization. The company’s CEO Andy Jassy sent out a memo to the staff on Monday informing them that 9,000 employees will be laid off in the...