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Business Briefs: Shift in job market

• The Standard and Poor’s 500-stock index hit a new record high on Thursday, March 28. The record is an indication that the market still trusts the Fed to stimulate the economy, despite turbulence in Europe and slowed growth in the United States, according to the Wall Street Journal.

• The Chinese government in Beijing banned single-person households from purchasing more than one home and increased the required down payment on second homes. The measure is an attempt by the Chinese government to reduce panic about home prices and China’s housing bubble, according to Bloomberg News.

• Chesapeake Energy Corp. named Steven C. Dixon acting chief executive while the company continues to search for a replacement for their former CEO. Negotiations with an intended candidate fell through last week, according to the Wall Street Journal.

• The Walt Disney Company’s first 24-hour kids channel aimed solely at preschoolers, Disney Junior, is expected to beat out the long reigning number one preschooler’s channel Nick Jr. This overthrow is expected despite Nick Jr. being available to 25 percent more viewers than Disney Junior, according to the Wall Street Journal.

• As the job market improves, experts are predicting that employees will begin to quit their old jobs in hopes of finding something new and better than their previous positions. This will come as a surprise to companies that have become complacent about employee retention in a tough job market, according to CNBC.

• Banks are drastically reducing the amount of branches they have open across the country. This comes with pressure on banks to reduce costs as well as an increase in the use of online banking, according to the Wall Street Journal.

• Toys “R” Us withdrew its plans to take the company public on Friday, March 29. The company cites the tough economy as well slowing sales as the reason for postponing the offering, according to CNBC.


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