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labor costs News

AI as a Cost-Cutting Tool: Barkin Predicts Shift in Business Strategies Amid Economic Pressures

Olivia Carter 15 Aug, 2025

Federal Reserve Bank of Richmond President Thomas Barkin discusses how companies might turn to AI to cut labor costs amid economic pressures, noting cautious hiring due to tariffs ...

Business

Experts Warn: Trump's Push for US-Made iPhones Could Skyrocket Prices to $3,000

Sarah Mitchell 16 May, 2025

Experts predict that relocating iPhone manufacturing to the US could triple prices to $3,000 due to higher labor costs. Apple's strategic shift to India aims to diversify its suppl...