With commuting costs on the minds of many, one New York-based investment bank is rethinking its office structure to help its New Jersey workers. During a congressional hearing, the top executive of Citigroup mentioned that the bank is considering opening additional facilities in New Jersey so workers can avoid commuting expenses. A bill proposed at the state level would incentivize New York businesses to open new offices in the Garden State for their New Jersey-based employees.
The state is awarding $200,000 in grants to 12 researchers at Rutgers University and Tel Aviv University. The schools collaborate on projects, and the grants will support a variety of research topics, including gene editing, Parkinson’s disease and quantum computing.
After announcing new interest rate hikes, Federal Reserve chairman Jerome Powell indicated it will be hard for the economy to avoid a recession. The Conference Board, a nonprofit business group, is forecasting a short recession by the end of the year.
Some of the nation’s biggest retailers are already announcing their holiday hiring plans. Target said on Thursday it plans to hire up to 100,000 seasonal workers, the same as last year. Walmart will hire 40,000 U.S. workers, most of them seasonal. That’s a more cautious approach than last year, when Walmart hired 150,000 workers.
