U.S. economic activity slowed from late October through the middle of November, while businesses reported inflation largely moderating and easier hiring for jobs, the Federal Reserve said in a report on Wednesday, underscoring waning economic momentum into the tail end of the year.
OECD Sees a Deepening Slowdown in Advanced Economies
The latest forecast from the OECD shows the slowdown for the world’s advanced economies deepening in 2024 with global gross domestic product expected to expand only 2.7% next year after an already weak 2.9% in 2023. OECD Chief Economist Clare Lombardelli explains the results.
Reddit Tops the List of Potential 2024 IPO Candidates
Reddit Inc. is reportedly exploring an initial public offering for the social media company as soon as the first quarter of 2024, while Kim Kardashian’s Skims is also weighing options, including an IPO. Dasha Afanasieva reports on Bloomberg Television.
Black Friday shoppers spent a record $9.8 billion online in the US, Adobe Analytics reported, offering a positive sign for retailers facing lackluster sales forecasts for the holiday season. Demand for electronics, smartwatches, TVs and audio equipment helped boost the day’s online sales by 7.5% compared with last year. Bloomberg's Charlie Wells reports.