Here's what we are reading this morning:
US economy will soon start losing 175,000 jobs a month, Bank of America warns | CNN Business: As pressure from the Fed’s war on inflation builds, nonfarm payrolls will begin shrinking early next year, translating to a loss of about 175,000 jobs a month during the first quarter, the bank said. Charts published by Bank of America suggest job losses will continue through much of 2023.
VPX Seeks Chapter 11 Protection as It Transitions to New Distribution Network: All business operations will continue, with improved product delivery and service to retailers through VPX/Bang Energy’s newly constituted legacy distribution network consisting of more than 269 best-in-class distributors. VPX’s Chapter 11 efforts are being supported by $100 million of additional financing from VPX’s esteemed syndicate lenders to help ensure operations continue uninterrupted during the restructuring process.
PC Shipments Plunge Nearly 20%, Steepest Drop in More Than 20 Years - WSJ: Demand for personal computers fell by the fastest pace in over two decades as back-to-school promotions failed to reignite sales.