The Global Economic News

Pay is back on the rise for job switchers, even in low-hire job market Kerry Hannon Senior Columnist Sun, September 13, 2026 at 8:45 AM PDT 5 min read ADP Changing jobs is looking lucrative again. Base pay for job changers in the private sector increased 4.7% in August, compared to 3% for job stayers, according to the latest report from payroll provider ADP. When you consider gross pay, which includes tips, commissions, and bonuses, wages for job stayers rose 4.4% year over year, while gross pay for job changers increased substantially more: 7.3%. In another recent report, the job-jumping news was just as promising. The median pay increase for workers switching jobs rose to 5% last month from 4.4% in July, according to new data from the Atlanta Fed. For those who stay put, the average pay increase was 3.6%, the same as in July. "There is an opportunity to boost wages by changing jobs, even in this low-hire, low-fire jobs market," ADP chief economist Nela Richardson said. ...

Alibaba and Amazon Face the Same AI Spending Question: How Quickly Does Capacity Become Cash? Habib Ur Rehman Sun, September 13, 2026 at 7:08 AM PDT 3 min read BABA AMZN September's debate over Chinese and American AI spending puts Alibaba Group Holding Limited (NYSE: BABA ) and Amazon.com, Inc. (NASDAQ: AMZN ) on opposite sides of the same investment question. Both report strong demand for computing services. Shareholders still need that demand to justify the infrastructure bill. September 7 coverage of Jefferies' analysis highlighted differences in spending intensity. The companies' own results suggest a more useful test than choosing a winner from headline capital expenditures: distinguish operating progress from cash committed ahead of future growth. Alibaba and Amazon Face the Same AI Spending Question: How Quickly Does Capacity Become Cash? Growth is arriving alongside the spending Alibaba's August 20 report showed June-quarter AI Cloud and Compute Services reven...

Before President Donald Trump reels off angry Truth Social posts if the Federal Reserve hikes rates this week, he should look in the mirror: His policies are a big reason the central bank has to consider a rate increase. In March, one month after the beginning of the Iran war, with oil near $100 a barrel, the average Fed official was still forecasting a rate cut this year and another one next year. It was a sign of the Fed's continued willingness to "look through" policies of the Trump administration that resulted in higher prices and to treat them as "one-offs." Six months later, the Fed stands on the verge of what markets expect to be the first rate hike since 2023. And futures markets predict this is will not be a one-off increase. At least three hikes are priced in through March of next year. It's a stark turnaround, but not one based on bad forecasting. No president has publicly harangued and harassed the Fed more to lower interest rates. So it's i...

Hi, this is Evelyn, writing to you from Beijing. Welcome to the latest edition of The China Connection a snapshot of what I'm seeing and hearing from local businesses. I'm joined this week by my Singapore-based colleague Anniek Bao, as we look at Beijing's growing oversight of tech outflows. What's the actual impact on companies? Forget chips and rare earths. Starting Tuesday, China is formally restricting its citizens from leaving the country if they violate tech export controls. It reflects how Chinese businesses today have more advanced technological know-how than the past and have been ramping up overseas expansion. The new rules build on measures strengthening oversight of overseas investment that took effect July 1. All companies going global need to think about whether they are compliant, especially if executives are handling negotiations abroad, said Shuai Peng, CEO of Lex Magister, a platform connecting Chinese businesses and lawyers internationally. While ...

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LightPath’s (LPTH) Defense Pivot Just Showed Up In The Numbers Maham Fatima Sun, September 13, 2026 at 6:14 AM PDT 4 min read LPTH On September 10, LightPath Technologies (NASDAQ: LPTH ) reported fiscal fourth-quarter and full-year results that turned a multiyear strategic bet into a financial statement. Revenue nearly doubled for the year, margins expanded, and the company walked away from its last manufacturing ties to China. For a small-cap optics supplier that spent years explaining a strategy, this was the quarter the strategy started explaining itself. LightPath's (LPTH) Defense Pivot Just Showed Up In The Numbers A Backlog That Keeps Outrunning Itself Annual revenue climbed 92.7% to $71.7 million from $37.2 million, and the fourth quarter alone hit a record $21.2 million, up 73.8% year over year. That growth is not just volume. Full-year gross margin expanded to 36% from 27.2%, and the fourth quarter came in even higher at 39.4%, because assemblies, modules and cameras now ...

Bank of America is seeing a far more subdued few months for its Wall Street advisory and trading businesses after a blockbuster second quarter, CEO Brian Moynihan told analysts Monday. Investment banking fees will likely decline by more than 10% in the third quarter from the year-earlier period, while trading revenue will be roughly flat, Moynihan said at a conference . That compares to a second quarter in which the bank posted a 50% jump in investment banking fees and a 33% jump in trading revenue. "What we're seeing is the market generally in investment banking is down 10%," Moynihan said, citing Dealogic data. "We're not as well positioned in some of the businesses that have more activity, so we'll be down probably a bit more than that." Bank of America shares were down 5% in afternoon trading Monday following Moynihan's comments. The muted outlook from the country's second-largest bank by assets could be an early signal that Wall Street'...

To play this video you need to enable JavaScript in your browser. This video can not be played Figure caption, AI "more powerful by the day", Anthropic co-founder tells BBC By Kali Hays , Technology reporter and Faisal Islam , Economics editor Published 1 hour ago An artificial intelligence "kill switch" which can be checked by a third-party may need to be mandatory for companies, a co-founder of one of the world's largest AI firms has said. Jack Clark, one of seven founders of Anthropic, said a way of shutting off AI software completely if it gets too dangerous was the kind of thing society "might want to eventually pass rules around". Clark said "most labs have different ways of being able to pull the plug", including Anthropic, but said policymakers may need to enforce having one. Clark's comments come as a growing number of executives and staff of AI firms, as well as AI experts, have publicly said AI could kill all humans. Anthropic...

A highly anticipated Fed meeting, war worries, and an unblinking stock market: What to watch this week Jake Conley Breaking Business News Reporter Sun, September 13, 2026 at 3:00 AM PDT 8 min read CL=F ^GSPC ^DJI ^IXIC If last week was the setup (consumer and wholesale inflation data, surging oil prices), then this week is the main event, with all eyes squarely on Washington, D.C., where the Federal Reserve on Wednesday will announce its latest rate decision. With a relatively quiet calendar otherwise, the hike vs. hold debate and its impact on markets will define the week. The rising yields and oil prices weighed on the stock market, which welcomed the higher-than-expected inflation report on Friday that signaled a coming Fed hike. For the week, the S&P 500 ( ^GSPC ) rose 0.8%, and the Dow ( ^DJI ) and Nasdaq ( ^IXIC ) rose 0.9%. Wednesday will set the tone for the entire week, with the Fed's decision due out at 2 p.m. ET, followed by a press conference from Chairman Kevin Wa...

President Donald Trump on Monday pushed back against growing calls for greater regulation of artificial intelligence , and lashed out at Anthropic CEO Dario Amodei over his urgent plea for an AI slowdown. "The only control or 'guardrails' that AI needs is a STRONG AND SMART (High IQ!) PRESIDENT, and the U.S.A. has that, in spades!" Trump wrote in a Truth Social post . "The Trump Administration has stopped AI 'people' from doing bad, or potentially bad, 'things,' like Dario (Anthropic!), who is now pretending to be a 'perfect little angel' - and we will continue to do so!" Trump wrote. In a follow-up post later Monday morning, Trump claimed, "The only reason the AI/Data Center outburst is happening is because the United States is leading, by a lot, every other country." "Don't kill the Golden Goose!" he wrote. The president's latest defense of largely unfettered AI growth came amid a sudden crescendo of lea...

U.S. oil prices are again above $100 per barrel , sending gasoline prices to multi-month highs. But traders on prediction market platforms expect the amount Americans are spending at the pump will hit fresh highs this year. Gas prices peaked at $4.56 per gallon on May 21, according to AAA's national average . Now, traders on Kalshi think there's a 71% chance that the average will surpass $4.60 in 2026. Speculators on Kalshi also place 57% odds that prices will top $4.80 a gallon, and just over a 40% chance that they cross $5.00. U.S. gas prices last hit a record high of just over $5 per gallon in June 2022. On Kalshi, contracts in the market ask traders if gas prices will cross various price points. Contracts are resolved using AAA's data. Tensions between the U.S. and Iran have escalated in recent weeks, putting in doubt the status of the Strait of Hormuz, a critical passageway for the global supply of oil, and pushing the commodity's price higher. On Monday, West ...

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Stocks making the biggest moves premarket: INTC, MRVL, CRWD Skip Navigation Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu Check out the companies making the biggest moves premarket: Chip stocks Major chip stocks fell in premarket trading after leaders within the artificial intelligence space, including Anthropic CEO Dario Amodei, called for a slowdown in the development of AI capabilities. Intel slid nearly 6%, Marvell Technology fell over 7.4% and Advanced Micro Devices slipped over 5%. Energy stocks The State Street Energy Select Sector SPDR ETF (XLE) climbed more than 1.2% ahead of the open as oil prices rose to start the week, with tensions in the Middle East rising. Diamondback Energy , APA , Marathon Petroleum and EOG Resources advanced 2% each to lead the gains. Cybersecurity stocks The group rose broadly as worries around AI safety increased following the warnings from CEOs Elon Musk, Dario Amodei and Sam Altman that t...

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AI warnings by Anthropic CEO Dario Amodei and OpenAI CEO Sam Altman could hammer this momentum stock Brian Sozzi Executive Editor Mon, September 14, 2026 at 5:14 AM PDT 3 min read CRWV Dire warnings on AI from the CEOs of Anthropic ( ANTH.PVT ) and OpenAI ( OPAI.PVT ) could weigh especially heavily on the business of CoreWeave if the tech is reined in. "The most exposed name in our coverage is CoreWeave," Bernstein analyst Madison Rezaei wrote in a note on Monday. "We estimate that 25% of their existing active U.S. power, with an additional ~74% of their contracted power, is situated in Tier 3 and Tier 4 markets. The backlog is primarily comprised of take-or-pay contracts, so we do not anticipate a threat there, but could see a pullback in demand for the contracted, not-yet-sold rural power if training development slows." CoreWeave shares fell nearly 7% in premarket trading, one of the worst slides in the AI stock patch on the fresh CEO warnings. Within the course ...

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BEIJING China on Monday pushed back on calls by U.S. AI executives for companies to slow down the development of the cutting-edge technology. "Fear mongering, confrontation, competition will just disrupt [the] process of global AI governance," Guo Jiakun, a spokesperson for China's Foreign Ministry, said on Monday, per an English translation published by Reuters. He was responding to a question about U.S. CEOs, including Anthropic's Dario Amodei, OpenAI's Sam Altman and Elon Musk, calling for the industry to slow down because of the dangers rapid advances in the technology pose. China's Minister of State Security, Chen Yixin, published an article on Sunday calling for the acceleration of construction of an AI security risk prevention and control system. The field of AI has become "the main battleground for global technological competition and a new arena for strategic rivalry among major powers," the minister said, adding there was a need for "...