Looms

Macy’s Inc. M 5.70% became the latest retailer to lower its financial guidance for the year, citing risks of a steeper economic downturn and slowdown in consumer spending. The New York department-store chain on Tuesday said cutting its sales and earnings forecast also takes into account the markdowns and promotions the company thinks will be needed to get rid of old inventory. The revision comes despite the company posting…

Business leaders are "holding on to the remnants of the past" by failing to recognize fundamental shifts in the workforce -- leaving them with a potential talent exodus on their hands.   A survey of more than 10,500 knowledge workers found that many company executives continue to view the office as the nerve centre of work, despite a growing preference for flexible-working policies amongst employees. See also: Developers wanted: Companies are hiring, and these are skills they're looking for. The Future Forum Pulse…

Credit: CC0 Public Domain About 300 miles southwest of San Antonio, water taps have run dry in a major Mexico city. Thousands of residents wake up at dawn to check their taps and fill…

Spirit Airlines Inc. SAVE 4.06% shareholders are scheduled to decide the fate of the budget carrier Wednesday, voting whether to merge with rival Frontier Airlines ULCC 2.55% as JetBlue Airways Corp. JBLU 1.42% tries to wrest Spirit away. After being delayed four times, the vote is likely to proceed Wednesday. With a higher offer…

The first poster for Ant-Man and The Wasp: Quantumania is here, giving us our first look at a major villain involved in what is sure to be a physics-bending adventure. The image featured Paul Rudd’s Scott Lang, AKA Ant-Man; Evangeline Lilly’s Hope van Dyne, AKA The Wasp; and Kathryn Newton’s Cassie Lang, who is sporting a purple suit similar to her father’s in what will be her debut after replacing Avengers: Endgame‘s Emma Fuhrmann in the role. But most impressive of all is the reveal of Jonathan Majors’ Kang the…

Europe’s economies showed resilience in May but remain vulnerable and could suffer a steep downturn should Russia stop supplying natural gas to the region.Economic data released Wednesday showed output at factories across the eurozone jumped in May, while the U.K. economy rebounded from a contraction in April. However, the rise in eurozone factory output was almost entirely down to U.S. businesses that operate in Ireland, while U.K. growth was partly driven by the lifting of two years of restricted access to local health…

Investors expect concerns about hot inflation and strapped consumers to dominate the corporate-earnings season that kicks off this week, creating winners and losers in the battered stock market.Stocks have come under pressure this year with inflation hovering at a four-decade high and the Federal Reserve in the midst of an aggressive campaign to raise interest rates to rein it in. The S&P 500 has fallen 18% in 2022, even after rallying 3% to start July. Tightening monetary policy has slashed…

Thousands of researchers at Japanese institutes and universities may see their jobs disappear by next spring, an unintended result of labor legislation adopted a decade ago that gave researchers who have worked under fixed-term contracts for more than 10 years the right to permanent employment. Japan’s science system has many such temporary workers—but rather than fully hire them, institutions are terminating their jobs. Scientists are trying to head off the lay-offs; the union…

CLIMATEWIRE | Global clean energy spending is expected to surge 12 percent in 2022, reaching $1.4 trillion as the world pours money into renewables, electric vehicles and energy efficiency, according to a recent International Energy Agency report. The finding, from IEA’s annual review of global energy investment, is especially notable because it represents an acceleration of the energy transition at a time when world leaders are prioritizing energy security and affordability due to the fallout of the Covid-19 pandemic…

Colorado’s cannabis industry is preparing for tough times as marijuana sales drop and economic problems pile up. During the COVID-19 pandemic lockdowns, weed businesses serviced consumers eager to stock up on their favorite edibles, concentrates and pre-rolls. That high has since given way to a low for the industry, as less consumer spending means sales are falling in both the recreational and medical markets, according to Headset, which provides insights into cannabis consumer trends. In Colorado, total sales for…