Category Archives: Syndicated
Microsoft, Amazon and other tech companies have laid off more than 60,000 employees in the last year
(CNBC) The job cuts in tech land are piling up, as companies that led the 10-year bull market adapt to a new reality. Microsoft said Wednesday that it’s letting go of 10,000 employees, which will reduce the company’s headcount by less […]
Read the memos Amazon execs sent to employees about job cuts
(CNBC) Amazon on Wednesday commenced the latest wave of job cuts in its corporate workforce in what’s poised to be the largest round of layoffs in the company’s history. Employees were notified of the cuts in emails sent by Doug […]
Davos elites see a major risk ahead for markets with looming U.S. debt standoff
(CNBC) The finance and tech CEOs gathering at the World Economic Forum this week expressed measured optimism about the economy in 2023 — but at least one major risk looms for markets, they said. The resilient U.S. economy, a mild […]
China’s recovery may mean the Fed will have to hike rates longer
(CNBC) As the end of China’s stringent Covid restrictions quickens the country’s economic recovery, concerns about pent-up Chinese demand — and the inflation that may follow — could mean bad news for the U.S. Federal Reserve. Economic data indicates that […]
FTX says $415 million of crypto was hacked
(CNBC) Bankrupt crypto firm FTX said on Tuesday that $415 million worth of crypto was hacked from the exchange’s accounts, representing a sizable portion of the identified assets the company is trying to recover. In a presentation titled “Maximizing FTX […]
Bitcoin has now recovered all its losses since FTX collapsed
(CNBC) Bitcoin has held steady above $21,000 for the last two days, bringing it back above the price it was when Sam Bankman-Fried’s crypto exchange, FTX began its slide toward bankruptcy. Since Monday, bitcoin has largely held steady above $21,000, […]
Stock futures fall as earnings season continues
(CNBC) U.S. stock futures were lower on Tuesday night. Futures tied to the Dow Jones Industrial Average fell by 77 points, or 0.23%. S&P 500 and Nasdaq 100 futures dipped 0.23% and 0.26%, respectively. Shares of United Airlines rose more […]
Goldman Sachs posts its worst earnings miss in a decade as revenue falls while expenses rise
(CNBC) Goldman Sachs on Tuesday posted its largest earnings miss in a decade as revenue fell and expenses and loan loss provisions came in higher than expected. Goldman said quarterly profit plunged 66% from a year earlier to $1.33 billion, […]
$1.4 trillion wipeout hits crypto industry at World Economic Forum.
(CNBC) Over the past few years at the World Economic Forum in Davos, Switzerland, the number of cryptocurrency industry attendees has boomed. But after a near $1.4 trillion wipeout in 2022, the crypto industry is being a bit more reserved […]
Carvana adopts ‘poison pill’ and sells $4 billion of auto loans
(CNBC) Carvana has adopted a “poison pill” to limit shareholders from raising their stakes and has reached an agreement to sell up to $4 billion of auto loans, the struggling used car retailer said on Tuesday. The company’s shares gained […]
Stock futures tick lower as investors look to corporate earnings
(CNBC) Stock futures were down slightly Monday night as investors attempted to keep building on early 2023 momentum and looked ahead to more corporate earnings. Futures tied to the Dow Jones Industrial Average lost 14 points, or just under the […]
House Republicans move to regulate crypto industry with a new subcommittee
(CNBC) Republican lawmakers announced late Thursday the launch of a new subcommittee that will oversee the crypto and fintech industries, the first of its kind in the U.S., after a tumultuous period for digital currencies. French Hill of Arkansas will […]