Glossier lays off a third of its corporate staff
John Sciulli/Getty Images for Nasty Gal

Glossier lays off a third of its corporate staff

Buzzy beauty startup Glossier has laid off a third of its corporate staff, founder and CEO Emily Weiss said in an email to employees. Glossier has branded itself as both a technology and beauty company — but of the more than 80 corporate employees laid off, the technology team was affected the most, Modern Retail…

‘Significant’ risk of the US economy shrinking this quarter, BofA warns
Michael Loccisano/Getty Images North America/Getty Images

‘Significant’ risk of the US economy shrinking this quarter, BofA warns

Bank of America slashed its first-quarter economic outlook for the United States on Friday because of disruptions caused by the Omicron coronavirus variant. Economists at Bank of America said in a report to clients they now expect US gross domestic product to increase at an annual rate of just 1% during the first three months…

Natural gas futures surge as powerful winter storm looms
David McNew/Getty Images

Natural gas futures surge as powerful winter storm looms

Natural gas futures are climbing sharply ahead of a blizzard that will force millions of Americans to crank up the heat. If maintained, the rally will translate to higher home heating costs in the weeks to come, adding to the inflationary pressures hitting the US economy. Natural gas futures expiring in March surged 12% on…

Remember the E-Trade baby? He’s coming back in a Super Bowl ad

Remember the E-Trade baby? He’s coming back in a Super Bowl ad

The Super Bowl already has a winner: E-Trade. The online broker, now owned by Morgan Staney, is bringing back its famous talking baby for the February 13 big game. A source close to the company confirmed that E-Trade will run a commercial during Super Bowl LVI on NBC and its streaming service Peacock that will…

Elon Musk just took the entire EV sector down with these comments
Liesa Johannssen-Koppitz/Bloomberg/Getty Images

Elon Musk just took the entire EV sector down with these comments

Six months ago, Elon Musk said he would stop attending investor conference calls unless there was “something important” that he needed to say. He should have stuck with that plan. After skipping Tesla’s third-quarter call, he returned to the call Wednesday to discuss fourth quarter’s record earnings and revenue. But his comments on this week’s…

The US is starting to make a manufacturing comeback. Here’s how to sustain it
Nic Antaya/Getty Images

The US is starting to make a manufacturing comeback. Here’s how to sustain it

The Covid-19 pandemic has laid bare the vulnerabilities in America’s domestic manufacturing base. The nation’s reliance on globally fragmented supply chains has led to shortages of everything from personal protective equipment to semiconductors to shipping containers. And these supply weaknesses have been a primary driver of elevated price increases. In fact, one-third of the price…

Consumer sentiment sinks on inflation and Omicron worries
Victor J. Blue/Bloomberg/Getty Images

Consumer sentiment sinks on inflation and Omicron worries

Worries over soaring prices and the Omicron variant of the coronavirus soured Americans’ views of the economy in January. US consumer sentiment in January fell nearly 5% to the lowest level since November 2011, the University of Michigan’s consumer sentiment survey showed Friday. Survey respondents felt worse about both the current economic conditions, as well…

Good news: Paychecks are going up. Bad news: So is inflation
Amir Hamja/Bloomberg/Getty Images

Good news: Paychecks are going up. Bad news: So is inflation

Americans’ paychecks continued to rise at the end of 2021. But along with that, so did prices. Compensation for American workers climbed 4% between December 2020 and December 2021, marking the biggest increase since the fourth quarter of 2001, according to the Bureau of Labor Statistics. Private sector workers fared even better, with their compensation…

Workers don’t know their schedules until the last minute. That’s a big problem
Elijah Nouvelage/Bloomberg/Getty Images

Workers don’t know their schedules until the last minute. That’s a big problem

Retail and restaurant work is notorious for irregular scheduling and last-minute changes — factors that can harm workers’ lives and thesc well-being of their families. Despite essential workers being hailed as heroes during the Covid-19 pandemic, and a historically tight labor market, schedule instability has improved little over the past two years, new research finds.…