industrial news

The United States creates 390,000 jobs in May and shows that the economy is still at cruising speed

Numbers: The United States added 390,000 stronger-than-expected new jobs in May, signaling that the job market and the economy in general are still strong despite some fraying around the edges. Economists polled by The Wall Street Journal had forecast a smaller increase of 328,000 new jobs after reports leading to the government jobs survey hinted …

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Melvin Capital will close its funds and return money to investors

Melvin Capital plans to close its funds and return the money to its investors, capping a stunning reversal for a company who lost big on soaring meme stocks last year and betting on growth stocks this year. In a letter to investors that was reviewed by The Wall Street Journal, Gabe Plotkin, Melvin’s founder, wrote …

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