Cheniere Energy approves Corpus Christi LNG expansion project
The company has also given Bechtel Energy full notice to proceed with construction of CCL Midscale Trains 8 & 9.
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Reuters
28 minutes ago
- Reuters
US factory orders rebound in May on strong aircraft demand
WASHINGTON, July 3 (Reuters) - New orders for U.S.-manufactured goods surged in May on strong demand for aircraft and business spending on equipment appeared to be strong halfway through the second quarter. Factory orders increased 8.2% after a downwardly revised 3.9% drop in April, the Commerce Department's Census Bureau said on Thursday. Economists polled by Reuters had forecast factory orders rebounding 8.2% after a previously reported 3.7% decline in April. They increased 3.2% on a year-on-year basis in May. Manufacturing, which accounts for 10.2% of the economy, remains constrained by President Donald Trump's aggressive tariffs on imported goods. An Institute for Supply Management survey on Tuesday showed anxiety over trade policy among manufacturers in June, with manufacturers variously describing the business environment as "hellacious" and "too volatile" for long-term procurement decisions. Trump sees the tariffs as a tool to raise revenue to offset his promised tax cuts and to revive a long-declining industrial base, a feat that economists argued was impossible in the short term because of labor shortages and other structural issues. Commercial aircraft orders soared 230.8%. That reflected at least 150 aircraft from Qatar Airways placed with Boeing (BA.N), opens new tab during Trump's visit to the Gulf Arab country in May. Orders for motor vehicles, parts and trailers rose 0.8%. Orders for computers and electronic products increased 1.5%, while those for electrical equipment, appliances and components rose 0.7%. Machinery orders gained 0.4%. The government also reported that orders for non-defense capital goods excluding aircraft, which are seen as a measure of business spending plans on equipment, rebounded 1.7% in May as estimated last month. Shipments of these so-called core capital goods rose 0.4%, revised down from the 0.5% reported last month. Non-defense capital goods orders jumped 49.5%. They were previously reported to have accelerated 49.4%. Shipments of these goods dipped 0.1% instead of being unchanged as previously reported.
The Independent
32 minutes ago
- The Independent
Condé Nast raises eyebrows with barebones post for Anna Wintour's Vogue job on LinkedIn: ‘Hiring a head of editorial'
It's now been a week since legendary American Vogue editor-in-chief Anna Wintour shockingly announced that she was stepping down and seeking a replacement to fill her Manolo Blahnik snakeskin boots. While Wintour has noted that she will remain as Chief Content Officer for Condé Nast and Global Editorial Director of Vogue, speculation has run wild over who will take over her day-to-day duties at the U.S. publication. Remarkably, as the names of potential successors continue to be debated, the company has also publicly announced the listing for a new Head of Editorial Content at American Vogue on the job-hunting social media site LinkedIn. 'Condé Nast is hiring a Head of Editorial Content for U.S Vogue,' the bare-bones LinkedIn post, which was first listed earlier this week, reads. 'If you are interested, please reach out by email with your resume to condenast@ Though it is now a generally accepted practice for media companies to post their openings – even for top editorial positions – on LinkedIn, the fact that Condé Nast is doing that to find a replacement for Wintour seems noteworthy, at least on the surface. It may also suggest that the fashion giant may not have actually whittled down the list of candidates to fill that position and is now casting a wider net. At the same time, the company hasn't made an official job listing on LinkedIn; instead, it has merely noted that the position is open and provided an email address to express interest. Still, Conde's method for looking to replace the driving force behind the Met Gala has led to eyebrows being raised. 'Applying for Anna Wintour's old job through LinkedIn is so based,' one LinkedIn user noted, while another snarked: 'crying this was posted on LinkedIn.' Meanwhile, despite the LinkedIn listing, a bevy of names at both Conde Nast and abroad have been tossed around as the next face of the magazine that Wintour turned into a fashion powerhouse. According to The Hollywood Reporter, the betting favorite to land the job is Architectural Design editor Amy Astley. 'Simply put, she's been killing it at AD, showcasing the homes of Hollywood A-listers, a list that recently includes Kendall Jenner, Michael Shannon and Lenny Kravitz,' THR noted, adding: 'The job feels like Astley's if she wants it.' Others who have been floated as taking the mantle are Vogue fashion director Tonne Goodman, British Vogue head of editorial content Chioma Nnadi, The Cut's editor-in-chief Lindsay Peoples Wagner, and Instagram director of fashion partnerships Eva Chen. The stunning revelation from Wintour, meanwhile, left many of her employees in a state of shock last week. After the 75-year-old – who was the inspiration for the diabolical lead character of The Devil Wears Prada – shared the news in a staff meeting, one employee told The Daily Mail: It was like finding out that God is stepping down from being God.
Daily Mail
43 minutes ago
- Daily Mail
Wall Street CEOs finally say the quiet part out loud as they admit apocalyptic reality for American workers: 'Literally half'
The dam is breaking. In a terrifying admission that signals a seismic change in corporate America, the CEO of one of the biggest carmakers in the US has broken cover to admit the devastating effects AI will have on the workforce. While some execs have attempted vague assurances for American workers, Ford Motor CEO Jim Farley has predicted the rise of AI will take a sledgehammer to jobs. 'Artificial intelligence is going to replace literally half of all white-collar workers in the U.S.,' Farley told author Walter Isaacson at the Aspen Ideas Festival last week. 'AI will leave a lot of white-collar people behind.' Bosses have been cautious about publicly admitting the reality of how many jobs could be cut from their companies as a result of AI. That tide appears to be turning however, and Farley's comments are among the most transparent. It comes after Amazon's CEO announced brutal workforce cuts late last month as the company continues to implement AI in its operations. While AI's impact will not be uniform, it is likely to affect administrative tasks. Andy Jassy said he plans to reduce the company's corporate workforce over the next few years as the tech will make certain roles redundant. Jassy told employees in a note seen by the Wall Street Journal that AI was a once-in-a-lifetime technological advancement and it has already transformed how Amazon operates. The sentiment was echoed by the CEO of Anthropic, who recently warned AI could wipe out half of all entry-level white-collar jobs. Dario Amodei called on other business leaders to stop 'sugarcoating' the truth and to prepare for the fact that US unemployment could rise to between 10 and 20 percent. Some have taken up the call, including Micha Kaufman, CEO of the freelance marketplace Fiverr, who told staff that they will have to accept that AI will change their jobs and the business itself. 'This is a wake-up call,' he wrote in a memo. 'It does not matter if you are a programmer, designer, product manager, data scientist, lawyer, customer support rep, salesperson, or a finance person — AI is coming for you.' Shopify recently announced that it would not be making any new hires unless managers first proved that the job could not be done by AI. Marianne Lake, head of JPMorgan Chase's consumer and community business arm, told investors in May that she expected to shed 10 percent of her staff in the next few years and replace them with AI tools. Amazon boss Andy Jassy warned that AI will lead to job cuts Even major tech companies have begun brutal job cuts as they race to invest in AI development. Microsoft confirmed on Wednesday that it would be slashing around 9,000 jobs as it continues to plough money into AI. 'We continue to implement organizational changes necessary to best position the company and teams for success in a dynamic marketplace,' Microsoft said in a statement. Last month Procter & Gamble, which makes diapers, laundry detergent, and other household items, announced it would cut 7,000 jobs, or about 15 percent of non-manufacturing roles. In a change of fortunes, blue collar jobs appear to be more protected while college graduates with white-collar jobs in tech, finance, law, and consulting are taking the hit. Entry-level jobs are vanishing the fastest — stoking fears of recession and a generation of disillusioned graduates left stranded with CVs no one wants. College grads are now much more likely to be unemployed than others, official data shows.
