US hiring strong in November as employers added 263,000 jobs

US hiring strong in November as employers added 263,000 jobs

The nation’s employers kept hiring briskly in November despite high inflation and a slow-growing economy — a sign of resilience in the face of the Federal Reserve’s aggressive interest rate hikes. The economy added 263,000 jobs, while the unemployment rate stayed 3.7%, still near a 53-year low, the Labor Department said Friday. November’s job growth … Read more

United Furniture baron David Belford, who fired all his workers, founded charity for sick kids

United Furniture baron David Belford, who fired all his workers, founded charity for sick kids

The owner of United Furniture Industries has been noted for his philanthropic efforts in past years — even as he has landed in legal scraps and contentious bankruptcy proceedings, according to news reports and court documents. David Belford — who made headlines last week for abruptly yanking jobs and health insurance for his 2,700 workers … Read more

Michael Kives could lose $300M in FTX debacle: insiders

Michael Kives could lose $300M in FTX debacle: insiders

As creditors in the FTX bankruptcy case look to claw back cash from the fallen crypto giant, an uncomfortable spotlight is focusing on a well-connected Hollywood insider with ties to the Clintons, the Kardashians and Elon Musk. Michael Kives — a former Tinseltown agent who has served as an aide to Bill and Hillary Clinton, … Read more

CNN boss Chris Licht guts HLN amid cost-cutting bloodbath

CNN boss Chris Licht guts HLN amid cost-cutting bloodbath

CNN boss Chris Licht has gutted sister network HLN, terminating all live programming as part of ongoing layoffs and budget cuts, sources told The Post. Licht slashed HLN’s “Morning Express with Robin Meade,” as well as “Weekend Express,” a source close to the situation said. Meade and HLN’s live news programming staffers will be let … Read more

Jobless claims fall by 16,000 after surging a week earlier

Jobless claims fall by 16,000 after surging a week earlier

Initial claims for state unemployment benefits dropped 16,000 to a seasonally adjusted 225,000 for the week ended Nov. 26. That unwound some of the surge in the prior week, which had boosted claims. While some of the rise reflected a surge in layoffs in the technology sector, claims also tend to be volatile at the start of the holiday season as … Read more

Mortgage rates fall for third straight week

Mortgage rates fall for third straight week

The average long-term US mortgage rate ticked down for the third week in a row and have fallen more than a half-point since hitting a 20-year high less than a month ago. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate fell to 6.49% from 6.58% last week. A year … Read more

Morgan Stanley CEO James Gorman making ‘modest’ job cuts

Morgan Stanley CEO James Gorman making 'modest' job cuts

Morgan Stanley is making modest job cuts across the globe, Chief Executive James Gorman said, as Wall Street comes under pressure with dealmaking slowing down. “Some people are going to be let go,” Gorman said at the Reuters NEXT conference, without specifying numbers. “We’re making some modest cuts all over the globe. In most businesses, that’s what you do … Read more