A worker sorts ordered goods into an automated shelving system during operations on Cyber Monday at Amazon's fulfillment center in Robbinsville, New Jersey, November 29, 2021.

Mike Segar | Reuters

Layoffs and hiring slowdowns have been the top talking points from tech leaders on earnings calls over the past few weeks.

Then there was last week's job report.

More than a half million jobs were added in July, well beyond the expectation of 258,000. Wage growth was up 0.5% for the month (5.2% year-over-year), and the unemployment rate is now 3.5%, tied for the lowest since 1969.

In such a tight labor market, when companies are still struggling to find the talent they need, why are tech companies like Amazon, Oracle, and Microsoft shedding workers?

For starters, economists point out that what's happening in one sector isn't representative of the entire economy. Just as the early days of the pandemic lockdown impacted industries differently (airlines and hotels were slammed, while e-commerce and streaming platforms boomed) so too will this next phase of the economic cycle.

Throughout the pandemic, tech companies added workers at a rapid clip. Now, with worries of a looming recession and sky high inflation dampening consumer spending, many of these same companies are looking to cut costs and shore up capital. Amazon almost doubled in size over the past few years as it needed to staff up its warehouses to meet customer demand. Now it's cutting workers, announcing last month that it reduced its headcount by 99,000 people to 1.52 million.

Shopify began adding workers in 2020 in response to the tremendous growth in the number of stores and restaurants that went digital during the Covid-19 lockdown. In July, the company announced it's laying off about 1,000 people, or 10% of its global workforce. CEO Tobi Lutke, in a memo to employees, acknowledged that he miscalculated how long the pandemic-fueled e-commerce boom would last.

Changing demographics are also at play in the current labor picture. George Washington University management professor Christopher Kayes points out that constricted immigration policies have led to fewer workers, as have the significant number of people retiring, and retiring earlier since the pandemic. Working mothers still on the sidelines because of struggles with childcare are also a factor. It all adds up to fewer workers available for the increased number of jobs that have been created as the economy grew.

"When you combine the growth in jobs with a smaller labor pool and workers who are just more selective about the jobs they're taking, you're going to have this mismatch," Kayes says.

Dannie Combs, chief information security officer at Donnelley Financial Solutions, says he's never seen an environment like this. He works primarily in Austin, Texas "and there's not a recession here that I can see. There are thousands of jobs available." At the same time, he recognizes that inflation is an undeniable factor for the company, and that he's had to be "creative in our compensation packages and our offers in terms of location and flexibility."

Sanjay Macwan, chief information officer and chief information security officer at Vonage, says the digital transformation that has exploded over the past few years has naturally required and attracted huge numbers of skilled tech workers so there's room to reduce headcount.

At the same time, industries like retail, airlines, and hospitality that ramped down quickly and drastically during the pandemic are now struggling to add those workers back onto their payrolls. "There's a lot of friction in those industries," he adds. "Workers can get harassed and abused by customers, so they leave and go elsewhere and that makes the hiring even more difficult."

Even amid layoffs and labor tumult, both Combs and Macwan are bullish on tech long-term. Says Combs: "In segments like technology, I still believe there are endless opportunities."

Read more from the original source:
Tech companies shed workers even as the talent shortage rages on - CNBC

Authorities search New Jersey residence of Hadi Matar

Fairview police closed Morningside Avenue in the borough on Friday, Aug. 12, 2022 as authorities search the home of Hadi Matar, who was arrested following an attack on Salman Rushdie in Chautauqua, N.Y.

Anne-Marie Caruso, NorthJersey.com

Silvana Fardos, mother of the accused attacker of author Salman Rushdie, darted out of her two-story tan brick home in Fairview on Tuesday afternoon and ducked into a maroon sedan, a hat and medical mask covering her face. Reporters who had camped out on the quiet street shouted questions, but Fardos replied that she had nothing left to say" and drove away.

Four days before, a man authorities say is her son, Hadi Matar, stunned the world when he rushed onto a stage in western New York and stabbed the renowned author repeatedly in the neck, stomach and right eye. Rushdie, 75, remains hospitalized with serious injuries.

Matar, 24, who lives with his mother in Fairview, hadnt been born when the former Supreme Leader of Iran, Ayatollah Khomeini, called for Rushdies death over passages in his novel, The Satanic Verses, that some Muslims viewed as blasphemous. But on Friday, authorities said he charged the stage in a frenzy, stabbing Rushdie around 10 times until attendees were able to pull him away.

What we know:Iran denies involvement, justifies attack on Rushdie

Since the brazen and bloody attack, a picture has started to emerge of a young man who in recent years had seemed isolated and depressed to those around him, including his mother. He also had grown fixated on religion and admired Khomeini and Irans Revolutionary Guard, posting images of Iranian figures on his social media.

In a weekend interview with the Daily Mail, Fardos said she was shell-shocked by the news of her sons arrest, which she learned about when her daughter, 14, called her saying the FBI was at their home. Still, his withdrawn behavior prior to the attack had seemed to trouble her.

New Jersey:Suspect in Salman Rushdie attack from Bergen County

Fardos told the tabloid that Matar had been moody and introverted and isolated himself in the basement of their home on Morningside Street. He sleeps during the day and wakes and eats during the night," she said. "He lives in the basement. He cooks his own food.

Matar was born and raised in California and moved to New Jersey in recent years, law enforcement authorities said. His parents divorced in 2004, and his father returned to his native Lebanon. Matar changed after traveling to Lebanon for a month in 2018 to visit his father, Fardos told the Daily Mail.

She hoped the trip would motivate him to finish school and get a job but instead he seemed more withdrawn and more religious upon his return and didnt say anything to me or his sisters for months. He criticized her for not giving him a strict Muslim upbringing, she told the paper.

Fardos shed more light on that trip in an interview with a Lebanese television station late Tuesday. In Lebanon, Matar's father refused to see him, Fardos told Al-Jadeed TV in Arabic, alleging that her son was treated poorly by his father.

She said her son grew up enjoying festivities for Christmas and Halloween and read both the Bible and the Quran, although he identified as Muslim. She said she "raised an angel" and that he was a good boy, but that he had changed after a trip to see his father and returned deeply depressed.

At the State of Fitness Boxing Club in North Bergen, where Matar was a member, staff and gym users described him as quiet and a loner.

Several of our members and coaches made efforts to get to know him and pull him into the fellowship of our tight-knit club, as we do with all our members, owner Desmond Boyle said in a statement posted online. It was, however, obvious that he wanted to keep to himself in a quiet and sad manner.

Health news:NJ adds monkeypox vaccine sites for people at high risk of the disease

Police officials have not explained the suspect's motives. They are looking into his social media accounts, which showed images of Khomeini and appeared sympathetic to Iran's Islamic Revolutionary Guard Corps that Khomeini founded, according to reports.

Khomeini issued a fatwa, or religious edict,calling on Muslims to kill Rushdie for blasphemy, in 1989.

Irans government has long since distanced itself from Khomeinis decree, but anti-Rushdie sentiment lingered. In 2012, a semi-official Iranian religious foundation raised the bounty for Rushdie from $2.8 million to $3.3 million, USA TODAY reported.

On Saturday, Matar pleaded not guilty in Chautauqua County Court to attempted murder and assault charges in connection with the attack at The Chautauqua Institute, a nonprofit education and retreat center. He is being held without bail in the Chautauqua County Jail.

Suspect in Rushdie attack pleads not guilty

The man accused of a stabbing attack on "Satanic Verses" author Salman Rushdie has entered a not-guilty plea to charges of attempted murder and assault. (Aug.13) (AP video: Carolyn Thompson)

AP

In her interview on Lebanese television, Fardos was asked if she wanted to see her son. She said she did not. I always talked to him about the future," she said. "Now there is no future.

Go here to see the original:
Mother of NJ man charged in Salman Rushdie attack sheds light on life - NorthJersey.com

NEWYou can now listen to Fox News articles!

Sheryl Crow opened up about what it was like filming her documentary, "Sheryl," and having to relive her darkest moments.

The documentary chronicles Crows rise to fame, starting from when she was a young girl, the challenges she faced early on in her career and all the highs and lows she has experienced both in her personal life and in her career.

During an appearance on "The Today Show," Crow revealed what experiences were the most difficult for her to revisit while filming the documentary.

"There was a lot of stuff I had never talked about in there," Crow said. "There have been some deaths along the way that have really affected me, certainly John OBrians death from Leaving Las Vegas. My battle with the real low lows and having to go get help, its all in there. Actually, to be honest, it was really liberating finally just talking about it."

Sheryl Crow says her documentary features a lot of experiences she had never spoken about publicly, and called the process of filming liberating. (Getty Images)

SHERYL CROW FELT IT WAS NECESSARY TO TELL HER BEHIND-THE-SCENES STORY IN NEW DOCUMENTARY

Despite feeling liberated in finally telling her story, Crow admitted to feeling terrified during the process, and even more so now that the documentary is out there and people are coming up to her saying they watched it. She noted, "It was king of terrifying laying it all out" and knowing people know "all the good stuff and all of the heavy stuff."

Crow explained many of her popular songs give off the impression that her music is always upbeat and happy, leading them to think her life has always been the same. She believes, however, that the songs about her struggles tell the real story of her life and are the ones audiences can relate to, leaving them feeling something after hearing them.

"People think you have All I Wanna Do and Everyday is a Winding Road and youre upbeat and youre happy all the time, and Soak Up the Sun, but ultimately, its your deep cuts that tell the story," Crow explained.

Crow believes that while her upbeat songs are more popular, it is her slower songs which tell a darker story that resonate more with fans and better tell the story of her life. (Photo by Jim Spellman/Getty Images)

Crow's documentary includes her battle with breast cancer, her relationship with Lance Armstrong during his scandal, as well as her other high-profile relationships, her struggles with depression and her time on tour with Michael Jackson.

CLICK HERE TO SIGN UP FOR THE ENTERTAINMENT NEWSLETTER

While there is some focus on the tougher moments in her life, the documentary also includes some happier moments in her life, and even features her sons. Crow has two sons, Wyatt Steven Crow, 15, and Levi James Crow, 12, who she adopted in 2007 and 2010, respectively.

Crow explained she is usually very strict with her children and their exposure to the public, explaining she doesnt allow them to have a presence on social media, but that they are in the documentary and even inspired her to write her new song "Forever," which is featured at the end of the film.

Crow usually keeps her sons out of the public eye, but the both appeared in her documentary, and even inspired Crow to write a song played at the end of the film. (Photo by Taylor Hill/Getty Images)

"They are living through a pandemic, they are worried about their planet, theyre worried about going to school and not being safe with guns and all, and I didnt have that stress," Crow explained. "The song really is to remind us all that every moment is a gift and we have to stay in that moment. Dont be distracted by a phone in between you and your loved ones and make the most of every moment. I wrote it for them."

CLICK HERE TO GET THE FOX NEWS APP

The documentary, "Sheryl," is available to stream on Showtime.

Lori Bashian is an entertainment production assistant for Fox News Digital.

Follow this link:
Sheryl Crow's eponymous documentary sheds light on battle with the real low lows: 'It was really liberating' - Fox News

Tiger Woods remained loyal to the PGA Tour by declining the LIV Golfs offer. Moreover, the star has been acting as a leader to make sure the existing PGA Tour golfers get the proper guidance. Around the 2nd round of the FedEx Playoffs, 22 PGA Tour players including Tiger Woods held a meeting to discuss and set 2 appeals to the Tour commissioner, Jay Monohan.

The meeting was held to discuss the further actions that can be taken by the PGA Tour against the LIV Golf stars. The 15-time Major Champion will not be a part of the BMW Championship in Delaware. However, he made sure to attend the meeting, flying all the way from his Florida home.

ADVERTISEMENT

Article continues below this ad

Moreover, Tiger took the initiative to set the mindset of the young PGA Tour stars. He later received appreciation for his leadership in the meeting from his fellow PGA Tour golfers.

In the meeting, two appeals were set by the golfers to give to the PGA Tour commissioner, Jay Monahan. Firstly, to play against each other more often. And the second was to not compete against the LIV Golf stars in any PGA Tour events apart from the Majors.

Woods, who has been part of the PGA Tour for nearly 25 years, was reportedly very much vocal in the meeting. He allegedly declined an offer of $700 million from Saudi funded Tour. So it is quite apparent that the 46-year-old does share a great bond with his Tour.

ADVERTISEMENT

Article continues below this ad

Tiger has managed to win 82 PGA Tour wins including his 15 Major titles. This single-handedly depicts his talent, dedication, and contribution to the Tour as well as the sport of golf. One of the PGA Tour pros from the meeting reportedly said, Look at all these build-outs, Tiger Woods built this. And he wants to make sure the place he built continues to be the strongest place in the PGA Tour.

Later on, Woods good friend and fellow PGA star Rory McIlroy too had some wise words for the Hall of Famer. McIlroy added, He is the hero that weve all looked up to. His voice carries further than anyone elses in the game of golf.

The 46-year-old is widely respected among the upcoming stars of the PGA Tour. Moreover, Woods considers most of the golfers as his friends rather than his juniors. This display of leadership and unity is what makes the legacy of Tiger Woods much greater than it already is.

ADVERTISEMENT

Article continues below this ad

What are your thoughts on Tiger Woods legacy? Let us know in the comments section below!

Watch this story:Meet Tiger Woods family

Read more:
Tiger Woods Built This: PGA Tour Pro Sheds Light on the Idea Behind the PGA Tours Exclusive Meeting - EssentiallySports

Get the Absco Sheds App that contains videos and instructions to help you get your shed setup right!

Absco Sheds is a wholly owned Australian company manufacturing a large range of steel products including Garden Sheds and Outdoor Structures. Absco Sheds specialize in kit form sheds, aviaries, garages, carports and patio covers for your backyard and outdoor areas. Proudly Australian made from high tensile, chromium free steel to ensure long-lasting strength. Absco sheds come in a variety of sizes, styles and finishes guaranteeing a comfortable fit into your backyard and lifestyle and come with a lifetime warranty.

Absco Sheds feature the unique patented SNAPTiTE technology; this revolutionary assembly system reduces the need for fasteners by 75% and reduces your own assembly time by up to 80%. This not only makes the shed faster and easier to assemble but also improves the strength and rigidity of the shed. Most Absco Sheds are approved to Australian Standards AS11790.2.02 non-cyclonic wind conditions (N2). Installing a Cyclone Kit will upgrade your shed to C1 wind conditions. Please check the wind rating carefully and confirm the requirements with your local council before purchasing.

See the article here:
Absco Sheds Garden Sheds & Outdoor Structures

ALBANY - A Denver-based maker of pre-fabricated sheds, garages and other structures has opened an outlet in Albany.

Tuff Shed plans a grand opening Friday and Saturday, July 8 and 9 to mark its new sales and design center at 2002 Central Avenue. It is one of three factory-direct Tuff Shed retail locations in New York.

We brought a Tuff Shed sales location to Albany to provide the best in customer service, quality and value in sheds, studios, and garages on the market, District Manager Tim Williams said in a prepared statement. We build onsite and everything is customizable to fit our customers budgets and backyards, something this market has been waiting for.

Tuff Shed has 54 production facilities across the country, and a total of 161 brick-and-mortar retail storefronts. They are also an "installation partner" for The Home Depot stores.

After working with customers to design and accessorize buildings, the company pre-fabricates key building components that are delivered to their final site.

The company started in 1981 in Rexburg, Idaho and later moved to Denver. In 2018, it acquired competitor Sheds USA.

Go here to see the original:
A new seller of pre-fabricated sheds, garages and other structures has come to Albany - Times Union

Update: NIO stock price reversed the previous days gains to hit fresh three-week lows at $20.26 before recovering slightly to settle at $20.83. Despite the rebound, the shares of the Chinese Electric Vehicle (EV) makers lost 6.09% on the day. NIO stock price failed to benefit from the recent recovery seen in the broader Wall Street indices, as investors assess the latest positions churning by several institutional investors, which have recently bought and sold shares of NIO. Besides, the FOMC June meetings minutes came in hawkish, as it revealed central bankers growing anxiety over inflation and plans to adopt a restrictive policy stance in order to control inflation.

NYSE:NIO started the session well lower as the Chinese EV maker was down by as much as 5% during early morning trading. On Tuesday, shares of Nio managed to rise by 3.84% and closed the trading day at $22.18. It was a remarkable reversal for the stock which rallied alongside the broader markets into the closing bell. The Dow Jones was the lone losing index with a dip of 129 basis points, the S&P 500 inched higher by 0.16%, and the NASDAQ posted a 1.75% gain on the strength of mega-cap tech stocks.

Stay up to speed with hot stocks' news!

What had Nios stock trading lower out of the start? There are reports that cases of the novel coronavirus are once again surging in areas of China. Specifically, the Anhui Province which is where Nios main production facilities are in the city of Hefei. Nio has already had to deal with production shutdowns due to outbreaks in Shanghai, so another closure to its facilities could mean another potential weak quarter for deliveries. Still, investor concerns were short-lived as the stock managed to erase those losses by the closing bell.

Nio hit another milestone earlier this week as the company announced via its WeChat account that it has completed its 10 millionth battery swap. Its a notable milestone, especially on the heels of a short report from Grizzly Research that alleged that Nio is inflating its battery swap subscription figures which has a direct impact on its revenues and net income. Still, perhaps this is Nios way of silencing the short sellers, as the company continues to hit major milestones for its innovative technology.

Previous updates

Update: NIO stock settled at $20.83, down 6.13% on Wednesday, despite US indexes managing to post modest gains for a second consecutive day. The Dow Jones Industrial Average added 70 points, while the S&P 500 summed 0.36%. The Nasdaq Composite gained 39 points or 0.35%. The US Federal Reserve saved the day, as the FOMC Minutes were as hawkish as expected, but policymakers refrained from hinting at a 100 bps hike and from talking about a potential recession. However, the document showed thatofficials agreed high inflation warranted restrictive interest rates, and are open to be even more restrictive if inflation persists. Also, the majority of participants saw a downside risk to growth, while judging there was a significant risk higher inflation could become entrenched.

Update: Nio shares have shed 6.5% to trade at $20.73 one hour into Wednesday's session. This pessimism is odd, seeing as how the Nasdaq is primarily flat and new vehicle sales figures out of China leave little more to be desired. Figures from June 20 through June 26 show a Chinese vehicle market in rampage mode. Overall, the week saw industry-wide sales 33% higher than the same period one year ago. Electric vehices grew at a much higher pace however. Nio reported sales of 12,961 in June, which amounts to a 60% growth rate YoY. The only negative aspect was that Nio remains behind competitors Li Auto (LI) and Xpeng (XPEV), whichsold noticeably more units in June and grew sales at 69% and 133% YoY, respectively.

Like this article? Help us with some feedback by answering this survey:

Follow this link:
NIO Stock News: Nio sheds over 6% despite the rebound - FXStreet

WASHINGTON TWP., BERKS COUNTY - Fireworks may have played a part in an early Tuesday fire that burned several sheds, a camper and an old saw mill, officials said.

Eastern Berks Fire Department and neighboring stations were dispatched at 1:56 a.m. to a report of sheds on fire in the 300 block of Lenape Road, according to Eastern Berks spokesman Paul Bartlett.

Eastern Berks Deputy Chief Chris Schaeffer arrived at the scene and reported multiple sheds on fire and called for two more tankers, Bartlett said.

Firefighters arrived and knocked down the blaze in about two hours. A tanker fill site was established by Engine 19 at the Eastern Berks station in Bechtelsville. Fire police controlled traffic around the scene.

Eastern Berks Fire Chief Mike Mutter said the homeowner said he was setting off fireworks earlier in the evening.

But Mutter also said questionable electrical hook ups were found to each of the buildings involved with the fire.

So its hard to tell what the cause and origin was completely, due to the severity of the damage, a statement said. Either way, it was something of the homeowners doing and only affected his property.

Other fire departments responding were Boyertown, Hereford, Earl, Topton, Pennsburg, Gilbertsville and New Hanover, along with Bally Medics.

See the original post:
Fire burns sheds, mill in Berks; fireworks may have played part - 69News WFMZ-TV

NXP Semiconductors N.V. (NASDAQ:NXPI) shareholders have seen the share price descend 20% over the month. But don't let that distract from the very nice return generated over three years. In fact, the company's share price bested the return of its market index in that time, posting a gain of 52%.

Although NXP Semiconductors has shed US$2.2b from its market cap this week, let's take a look at its longer term fundamental trends and see if they've driven returns.

View our latest analysis for NXP Semiconductors

To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.

During three years of share price growth, NXP Semiconductors achieved compound earnings per share growth of 6.6% per year. In comparison, the 15% per year gain in the share price outpaces the EPS growth. This indicates that the market is feeling more optimistic on the stock, after the last few years of progress. It is quite common to see investors become enamoured with a business, after a few years of solid progress.

The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).

We know that NXP Semiconductors has improved its bottom line lately, but is it going to grow revenue? This free report showing analyst revenue forecasts should help you figure out if the EPS growth can be sustained.

When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. We note that for NXP Semiconductors the TSR over the last 3 years was 58%, which is better than the share price return mentioned above. And there's no prize for guessing that the dividend payments largely explain the divergence!

While the broader market lost about 17% in the twelve months, NXP Semiconductors shareholders did even worse, losing 27% (even including dividends). However, it could simply be that the share price has been impacted by broader market jitters. It might be worth keeping an eye on the fundamentals, in case there's a good opportunity. Longer term investors wouldn't be so upset, since they would have made 7%, each year, over five years. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Take risks, for example - NXP Semiconductors has 3 warning signs we think you should be aware of.

For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Read the rest here:
NXP Semiconductors (NASDAQ:NXPI) sheds 5.4% this week, as yearly returns fall more in line with earnings growth - Simply Wall St

The report on Global Sheds (Building) Market from 2022 to 2028 includes an introduction of global market dynamics. MarketandResearch.biz mission aims to provide clients with a realistic assessment of the company and assist them in creating strategic plans. To explore this data and make an accurate judgment on the overall market condition, situation analysis and other approaches are used to promote the installation of an optimal planning process for any company and provide information on the potential state and pattern of the Sheds (Building) industry.

The Sheds (Building) market is divided on the basis of product type:

DOWNLOAD FREE SAMPLE REPORT: https://www.marketandresearch.biz/sample-request/197217

This is done by thoroughly examining their numerous products, industrial capacity, sales estimates, specializations, financial outlook, and pricing methods.

The market is segmented into

Firms and other clients wishing to join global or regional markets can rely on the research for the most up-to-date economic data and valuable insights.

The important actors in the Sheds (Building) report are listed below:

This study also assesses each regional locations brand recognition in revenue generation, environmental influences, purchasing power habits, pricing tactics, and supply situations.

This report is separated into several vital regions, including

ACCESS FULL REPORT: https://www.marketandresearch.biz/report/197217/global-sheds-building-market-growth-2021-2026

The following are the reasons why this research study was chosen:

Customization of the Report:

This report can be customized to meet the clients requirements. Please connect with our sales team (sales@marketandresearch.biz), who will ensure that you get a report that suits your needs. You can also get in touch with our executives on 1-201-465-4211 to share your research requirements.

Contact UsMark StoneHead of Business DevelopmentPhone: 1-201-465-4211Email: sales@marketandresearch.biz

Read the rest here:
Global Sheds (Building) Market 2022 Industry Insights and Major Players are Palram Applications, Grosfillex, Keter Plastic, Kybotech Designer Women -...