ISM Non-Manufacturing Index Backs Off Record High in December

The ISM Non-Manufacturing Index for December pulled back to 62.0% (consensus 67.1%) from a record high 69.1% in November as the Omicron variant runs roughshod over the economy. The Prices Index increased to 82.5% from 82.3% in November. Earlier the ISM Manufacturing Prices Index fell to 68.2% from 82.4%. However, the services is 80% of the US economy, making it an inflation risk. The dividing line between expansion and contraction is 50.0%. The December reading marks the 19th straight month … Continue reading “ISM Non-Manufacturing Index Backs Off Record High in December”

Tencent’s Riot Games Pays $US100 million in Gender Discrimination Case

Game maker Riot Games, the video game maker said on Monday evening agreed to pay $US100 million to settle a gender discrimination suit with more than 2000 current and former female employees. The class-action lawsuit was filed in 2018 than in early 2020, two California employment agencies intervened to block the settlement, arguing that the women could be entitled to more than $US400 million. California had been investigating the company after claims of sexual harassment, discrimination, unequal pay and retaliation … Continue reading “Tencent’s Riot Games Pays $US100 million in Gender Discrimination Case”

Greed Outpacing Fear in Markets says Goldman’s Solomon

In what may appear as patently obvious to most Goldman Sachs CEO, David Solomon speaking at an event in Singapore said we are living in one of those “periods of time when greed has outpaced fear.” and the global economy is facing a ‘complicated time’. We are in times not too dissimilar to the 1980’s where the fictional Gordon Gekko ruled and the real Ivan Boesky would most likely be the norm in the moral hazard free 2021. Soloman says … Continue reading “Greed Outpacing Fear in Markets says Goldman’s Solomon”

Indian Job Postings Hit All Time High in September

The Indian job market continues to expand, for the third consecutive month in a row job openings are picking up. The latest Naukri JobSpeak report had 2,753 job postings an all-time high in September surpassing pre-COVID levels in September 2019 by 21 per cent. “The continuous positive growth of the IT-software/software services sector has enabled major IT hubs to outperform other cities in the annual growth charts, it said. Bengaluru (133 per cent), Hyderabad (110 per cent), Pune (95 per … Continue reading “Indian Job Postings Hit All Time High in September”