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  Hinterhaus Productions After boosting paid parental leave during the pandemic, many companies are now cutting or reducing the popular employee benefit.   In 2022, organizations with paid maternity leave dropped to 35% from 53% in 2020, according to the Society for Human Resource Management’s employee benefits  survey . And fewer than one-third, 27%, now provide paid paternity leave, down from 44% in 2020.   “A lot of these firms are now trying to get back to pre-pandemic norms,” said Michelle Long, a policy analyst at the nonprofit Kaiser Family Foundation. More from Personal Finance: Borrowers in these states may owe taxes on student loan forgiveness Inflation fears spur shoppers to get an early jump on the year-end holidays Citi expands program to boost homeownership in diverse communities During the pandemic, many companies enhanced offerings beyond what is required by state law, but now “purse strings have tightened” as the economy has shifted, Long s...

  SHARE Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email WATCH NOW VIDEO 05:36 From soaring wages to used car prices, Jim Bianco warns inflation’s bite is deepening Washington’s efforts to curb inflation will fall short particularly this year, according to market forecaster Jim Bianco. And, he believes this week’s key inflation data will help prove it. “I don’t see anything that will reduce the inflation rate. There are some things that might reduce prescription drug prices and maybe a couple of other things,” the Bianco Research president told CNBC’s “ Fast Money ” on Monday. “But will that bring down CPI? Will that bring down core CPI to a point where we can actually start pricing that in? No, I don’t think so.” The government releases its  Consumer Price Index [CPI],  which tracks prices people pay for goods and services, for July this Wednesday. Dow Jones expects the number to come in at 8.7%, down 0.4% from ...

  Alibaba’s Hong Kong-listed stock jumped as much as 6% on Tuesday after the company said it will apply for a dual primary listing in Hong Kong. Kuang Da | Jiemian News | Visual China Group | Getty Images Alibaba ’s Hong Kong-listed stock jumped 6% on Tuesday after the Chinese tech giant said it will apply for a dual primary listing in Hong Kong, before paring some gains. The tech giant’s shares are already traded on both U.S. and Hong Kong exchanges, but the current listing in Hong Kong is a secondary one. The primary listing process in Hong Kong is expected to be completed before the end of 2022,  the company said in a press release. The Hong Kong Exchange recently changed rules, making it easier for more companies to get dual primary listings in the Chinese financial hub. Alibaba is reportedly the first large company to take advantage of this rule change,  according to Reuters . “We have received approval from the Board to apply to add Hong Kong as another primary list...

  The European Central Bank is increasing interest rates for the first time in 11 years. But in Italy, political turmoil is back. Bloomberg | Bloomberg | Getty Images The  European Central Bank  on Thursday increased interest rates for the first time in 11 years in an attempt to cool rampant inflation in the euro zone. The ECB, the central bank of the 19 nations that share the  euro  currency, surprised markets by pushing its benchmark rate up by 50 basis points, bringing its deposit rate to zero. Traders had expected a smaller hike of 25 basis points. “The Governing Council judged that it is appropriate to take a larger first step on its policy rate normalisation path than signalled at its previous meeting,” the ECB said in a statement Thursday. The Frankfurt institution had kept rates at historic lows, in negative territory since 2014, as it dealt with the region’s sovereign debt crisis and the coronavirus pandemic. The  euro  rose to a session high ...