Preparing for a recession

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A 'Now Hiring' sign posted in the window of a restaurant looking to hire workers on May 05, 2023 in Miami, Florida.
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Employers are concerned, but that that doesn’t always mean layoffs. Here’s what’s happening in the labor market
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Macy’s and Costco sound a warning about the economy
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Reddit sparks outrage after a popular app developer said it wants him to pay $20 million a year for data access
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US mortgage rates climb to their highest level since November
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JPMorgan is closing 25% of First Republic’s branches
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Auto safety regulators propose requiring automatic braking in cars
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National Eating Disorders Association takes its AI chatbot offline after complaints of ‘harmful’ advice
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Dollar General shareholders vote to review safety policies after 49 deaths in a decade
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Job site ZipRecruiter cutting 20% of its staff
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Gas prices nearly triple in Nigeria as new leader triggers panic-buying by halting subsidies
The Fed can’t figure out what’s happening with the job market
Diddy is suing the co-owner of his tequila for racial discrimination
Florida’s homeowner insurance rates are four times the national average. That’s not getting better anytime soon
Jamie Dimon denies knowledge of JPMorgan concerns over Epstein in lawsuit deposition
Pride Month was once an easy win for brands. Now, the stakes are much higher
Inflation in Europe drops to lowest level since Russia invaded Ukraine
Right-wing media figures are waging an anti-LGBTQ war on businesses over Pride Month
The global economy has likely been spared a US debt default. It still faces a mountain of risks
China’s small and medium-sized factories post surprise growth, easing market anxiety
Chinese star banker Bao Fan detained by country’s top anti-graft body, state media says
The average wedding just hit $29,000
Elon Musk is once again the world’s richest man
OPEC has not invited Reuters, Bloomberg to report on weekend policy meets

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What to Watch

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Why Americans don’t take all their vacation days and how not to get hacked
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Are airline seats too small?
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Eurozone inflation falls to its lowest since the war in Ukraine began
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Does this look appetizing? If you go to Mars, it may be your meal

In Case You Missed It

Debt ceiling

The US Capitol building is seen from the base of the Washington Monument as the sun rises in Washington, DC, on May 28, 2023. President Joe Biden and Republican leader Kevin McCarthy announced a deal on May 27, 2023, to raise the debt ceiling, dragging the United States back from the precipice of default with only a few days to spare.
Samuel Corum/AFP/Getty Images
The debt ceiling drama may feel like it’s over, but it may have only just begun
31 billionaires are worth more than the US Treasury has in cash
How crypto is dealing with the debt ceiling turmoil
Corporate America celebrates debt ceiling deal and urges Congress to quickly pass legislation
From your 401(k) to bonds, here’s how to protect your financial well-being as debt default worries grow
These companies are winners in the debt ceiling deal

inflation

A shopper browses fruit and vegetables for sale at an indoor market in Sheffield, UK, on Friday, May 19, 2023. The Office for National Statistics are due to release the latest UK CPI Inflation data on Wednesday. Photographer: Dominic Lipinski/Bloomberg via Getty Images
Dominic Lipinski/Bloomberg/Getty Images
Britain is getting so desperate to tame inflation it’s talking about food price caps
Will the debt ceiling debate finish the Fed’s inflation fight?
Why retail theft is soaring: inflation, the economy – and opportunity
Check the price tag before grabbing a bottle of ketchup for your barbecue
Former Fed Chair Bernanke argues economy must slow further to bring down inflation
Americans’ outlook on retirement darkens to an 11-year low
UK inflation surprises for all the wrong reasons

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Success

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Return-to-office mandates won’t magically improve young employees’ career development
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How top execs get a bigger tax break on retirement savings than the rest of us
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US employees are more satisfied than ever, new survey finds
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6 money tips for new grads

Tech

boonchai wedmakawand/Moment RF/Getty Images
National Eating Disorders Association takes its AI chatbot offline after complaints of ‘harmful’ advice
Ilnur Khisamutdinov/Alamy Stock Photo
Job site ZipRecruiter cutting 20% of its staff
Mike Blake/Reuters/FILE
Chinese star banker Bao Fan detained by country’s top anti-graft body, state media says
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Meta threatens to pull news content in California if bill to pay publishers passes

Media

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Right-wing media figures are waging an anti-LGBTQ war on businesses over Pride Month
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Experts are warning AI could lead to human extinction. Are we taking it seriously enough?
Disney
Disney’s ‘The Little Mermaid’ rakes in $117 million at the US box office on opening weekend
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Justice Department opens criminal hacking probe into leaked Tucker Carlson videos

Underscored

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5 financial misconceptions debunked
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Discover reveals its 5% cash back categories for the third quarter of 2023
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Earn 10 times the national savings average with this Citi high-yield savings account
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How to protect your finances against a future U.S. default or government shutdown