Business Update – October 12, 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Former US Federal Reserve chief wins Nobel prize

Former US Federal Reserve chief Ben Bernanke, who led the central bank during the 2008 financial crisis, is one of three recipients of this year’s Nobel prize in economics.

Bank of England strengthens emergency stimulus

The Bank of England will double the value of government bonds it can buy each day. The tactic was introduced after a recent mini budget announcement caused a meltdown in the bond market, sending pension funds into turmoil.

Online spending expected to be weak this season

Stores have been slashing prices lately to get rid of excess inventory, and the early access to sales is likely to cut into the traditionally heavy Black Friday and Cyber Monday shopping season.

Inflation reduction is the Fed’s priority

Chicago Federal Reserve President Charles Evans said the central bank is committed to fighting inflation, even if that means massive job losses. The comments come three weeks before the Fed is expected to approve its fourth consecutive 0.75 percentage point interest rate increase.

Social Security COLA is just around the corner

The Social Security cost of living announcement is expected within the coming days. After remaining largely unchanged for decades, many are anticipating the upcoming adjustment, which is expected to help with the soaring cost of living.

Elon Musk’s Twitter deal set to be a case study for generations

In a surprising twist, it looks like Elon Musk’s purchase of Twitter may go through after all. With all of the ups and downs, many experts say the ordeal will be “immortalized in case studies for future captains of industry”.

Chinese chip stocks fall after sweeping new regulations

Chinese chip stocks fell Monday after new export controls were announced aimed at limiting Beijing’s ability to produce advanced military systems. The rules expand on attempts to curb Chinese companies’ access to key tech.

6 steps to small business success this fall

After the lazy days of summer, fall is typically the time of year that business picks up. Follow these 6 tips to maximize your potential success this season.

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