Author: MNK News
Where is everybody?getty The white-collar job cuts are reshaping the labor market, as organizations adapt to economic pressures and technological advancements. Amidst a growing desire to flatten organizations, companies are cutting in the middle and eliminating white collar jobs. According to recent data from the Bureau of Labor Statistics, nearly 500,000 jobs in professional and business services were eliminated in September 2024 alone—the most significant cuts in nearly two years. This trend is part of a broader shift: the shrinking of white-collar opportunities and restructuring the future of work. Reasons Behind the White-Collar Job Cuts Professional and business services, encompassing…
By Lisa Baertlein and Abhinav Parmar (Reuters) -FedEx announced the much-anticipated spinoff of its freight trucking division on Thursday, as it restructures operations to focus on its core delivery business. Shares jumped 8% in after-hours trading, adding $5 billion to FedEx’s market capitalization. Analysts believe the spinoff could unlock up to $20 billion in shareholder value, while clearing the way for FedEx management to zero in on merging operations of its separate Express and Ground units to boost profits. They say FedEx Freight assets were not fully appreciated within FedEx and that spinning off the trucking business as a publicly-held…
Craig Wright, who for years claimed to be Bitcoin’s creator, was found guilty of contempt and sentenced to 12 months in prison. Australian computer scientist Craig Wright was sentenced to 12 months in jail, with the sentence suspended for 24 months, after a U.K. judge found him guilty of contempt of court. In March, a court ruled that Wright was not Satoshi Nakamoto, the pseudonymous creator of Bitcoin (BTC). The ruling came after Wright’s £900 billion intellectual property claim, in which he demanded copyright ownership of the Bitcoin whitepaper and key code databases. The Crypto Open Patent Alliance fought back,…
Family Feud host Steve Harvey was the victim of a bogus death pronouncement Wednesday which was automatically generated by artificial intelligence (AI) and spread virally to a waking world. A story claiming the comedy veteran had died late on Tuesday led to many social media posters mourning the 67-year-old’s passing and offering condolences to his family and loved ones. Thankfully nothing of the sort had happened to the man who also fronts the ABC daytime courtroom series Judge Steve Harvey. The Wrap reports an article titled “Steve Harvey Passed Away Today: Remembering The Legacy Of A Comedy Legend” was posted to…
Stray Kids debut their new single “Come Play,” a collaboration with both Young Miko and Tom Morello, … [+] on several U.K. charts, including one they’ve never reached before. In this image released on October 6, 2024, Changbin, Seungmin, I.N, Felix, HAN, Hyunjin, Lee Know and Bang Chan of Stray Kids arrive at the American Music Awards 50th Anniversary Special in Los Angeles, California. (Photo by Gilbert Flores/Penske Media via Getty Images)Penske Media via Getty Images Stray Kids released a new collection—this time dubbed a mixtape, not an album—just a few days ago, on December 13. Hop may impact charts…
Who’s in charge here? Tesla CEO Elon Musk wasn’t a candidate in this year’s presidential race, but he suddenly seems to be running the show in Washington, D.C. Musk has quickly emerged as the most influential adviser to incoming President Donald Trump, as well as the richest and most voluble. And he seems to be adding the US government to the list of organizations he runs, or aims to. Musk took the lead in shooting down an eleventh hour spending bill Congress planned to pass to keep the government running into 2025. Congress could still pass another spending bill, avoiding…
El Salvador’s agreement with the IMF could shutter the country’s state-backed Bitcoin wallet Chivo, but not its overall BTC support. Bitcoin-friendly nation El Salvador will sunset or sell its Chivo crypto wallet as it scales back Bitcoin (BTC) activity as part of terms to secure a $1.4 billion International Monetary Fund loan. Stacy Herbert, director of El Salvador’s national Bitcoin office, said the decision was part of its agreement with the IMF. Notably, Chivo’s fate will not impact BTC laws in the country, and Bitcoin will remain available as legal tender under the IMF deal per Reuters. El Salvador introduced…
Teamsters union members went on strike at seven Amazon facilities in four states Thursday morning, demanding better wages and benefits amidst the company’s soaring profits. The strike was timed for the height of the Christmas rush, as consumers around the country turn to the e-commerce giant to secure last minute gifts — which now may not arrive on time. CNN reports that in a significant labor action just before the Christmas gift-giving season, thousands of Amazon workers across the United States staged strikes on Thursday morning. The strikes, organized by the Teamsters union, took place at seven facilities in four states,…
Towering prospectsgetty Offices continue to be plagued by high vacancy rates (20.1% in this year’s third quarter, per Moody’s), the bedeviling result of the work-from-home mindset that the pandemic created. In 2019’s fourth quarter, it was 16.8%. Also not helping: Some places have an over-abundance of office space, which brings downward pressure on leasing profitability. But guess what? The outlook for the battered office sector is promising, and some investors are taking notice amid bargains. Just look at the performance of real estate investment trusts specializing in the office sector: Their stocks have gained 28.5% this year, according to industry…
A Texas attorney who has filed dozens of cases on behalf of anonymous accusers of sexual misconduct against Sean “Diddy” Combs—including one alleging rapper Jay-Z participated in the rape of a teenager—has now sued Jay-Z’s company Roc Nation, claiming it tried to pay former Buzbee clients to sue him and sent people posed as state officials to harass plaintiffs. December 18Texas attorney Tony Buzbee and his firm—which are representing an accuser against Jay-Z—filed a lawsuit against Roc Nation and its lawyers, claiming they hired “shadowy operatives” to seek out current and former clients and try to convince them to sue…