In a surprising move just prior to releasing their first-quarter earnings report, Google announced that it would be letting go of about 200 employees from its “Core” teams. This reorganization will involve transferring some roles to India and Mexico, a decision that has raised eyebrows within the tech industry. The Core unit is crucial for
Art
The Federal Reserve has once again decided not to cut interest rates as it grapples with the challenge of rising inflation. The central bank opted to keep its benchmark short-term borrowing rate steady in a targeted range between 5.25% – 5%. This decision comes after the Fed last hiked rates in July 2023, marking its
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Hotel giant Marriott International (NASDAQ:MAR) has recently increased its annual adjusted profit forecast following a mixed performance in the first quarter. Despite weakening trends in North America, Marriott is relying on the surge in international travel demand to drive its full-year profit. The company anticipates a significant boost in revenue per available room (RevPAR) from
In a groundbreaking move, Microsoft has partnered with Brookfield Asset Management in a deal worth more than $10 billion to develop renewable energy capacity to meet the increasing demand for artificial intelligence and data centers. The agreement, announced recently, outlines that Brookfield will be providing 10.5 gigawatts of renewable energy to Microsoft between 2026 and
Bond investors are beginning to show a selective interest in adding longer-dated maturities to their portfolios. This shift in strategy is driven by the belief that the Federal Reserve will choose to delay cutting interest rates and reduce them at a slower pace compared to previous easing cycles. The decision to keep rates unchanged at
Recently, Johnson & Johnson announced a settlement of $6.5 billion to resolve almost all of the lawsuits filed against the company in the U.S. concerning ovarian cancer caused by its talc-based products. This settlement has been a long time coming, as the legal battles have been ongoing for decades, causing financial and public relations difficulties
The impact of higher-for-longer U.S. interest rates was felt across Asian stock markets on Wednesday, with Japanese and Australian stocks leading the losses. This negative sentiment was fueled by fears of prolonged U.S. interest rate hikes, as investors awaited the conclusion of a Federal Reserve meeting later in the day. Japanese Stock Market Performance Japan’s
Australia’s major banks are anticipated to report weaker first-half profits as operating costs remain high and competition for mortgage and deposit sales intensifies. This has led to a reduction in margins, putting a strain on overall profitability. Although historically, rising interest rates have been beneficial for the Big Four banks, the current scenario has forced
Following the news of CEO Elon Musk’s decision to cut jobs in Tesla’s Supercharger team, the company’s shares plummeted nearly 6% on Tuesday, closing at $183.28. This drop marked a 26% decrease for the year, signaling investor concerns about the company’s future direction and financial stability. According to reports, Musk informed managers at Tesla about
Amazon.com recently reported quarterly results that surpassed Wall Street’s expectations. The company’s focus on artificial intelligence has been a significant factor in driving growth in its cloud-computing division. Despite the impressive performance, Amazon’s current-quarter revenue forecast fell short of expectations, causing a slight dip in the stock price during the regular session. Chief Financial Officer
“Roundball Rock,” composed by John Tesh, is considered one of the greatest theme songs for TV sports, particularly for National Basketball Association games on NBC. The nostalgic association that NBA fans have with this tune is unparalleled, as it brings back memories of an era defined by Michael Jordan’s dominance, the Chicago Bulls’ success, and
Amazon surprised investors by beating both top and bottom-line expectations in their recent earnings report. Earnings per share came in at 98 cents, surpassing analysts’ forecasts of 83 cents. Revenue also exceeded expectations at $143.31 billion. Despite this positive outcome, the company’s second-quarter revenue forecast fell short of estimates. On the other hand, Starbucks disappointed
The Federal Trade Commission has taken a bold step in challenging hundreds of alleged “junk” patents held by pharmaceutical companies for 20 brand-name drugs. These companies, including Novo Nordisk, AstraZeneca, Boehringer Ingelheim, and others, have been warned about improperly listed drug patents, particularly for medications related to Type 2 diabetes, asthma, and COPD. The practice