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San Francisco Fed President Mary Daly said Thursday that she sees the case for quickly moving to raise interest rates this year as inflation remains high. “I like to think of it as expeditiously marching towards neutral. It’s clear the economy doesn’t need the accommodation we’re providing,” Daly told Yahoo Finance in an exclusive interview Thursday. The Fed hopes that raising borrowing costs will dampen the consumption and spending that has pushed prices higher. The central banker told Yahoo… Source link

What’s a problem advertisers and Angelenos have in common? Bad traffic. Yahoo, one of the largest publishers in the US, has been a recipient of such traffic. Researchers suggest that traffic from what the industry often considers invalid was flowing to Yahoo-owned sites. In some instances, people visiting adult and piracy sites were redirected, via something called pop-unders, to Yahoo-owned properties like TechCrunch and Yahoo’s entertainment, sports, and finance sites. Though it… Source link

Inflation has touched nearly every area of the economy, including the hospitality sector. According to celebrity chef Wolfgang Puck, restaurant suppliers have raised prices “tremendously,” forcing him to rethink how to avoid passing on the cost to his customers. “We just have to engineer the menu a little different so not everything is expensive,” the restaurateur said on Influencers with Andy Serwer. Puck has noticed inflation particularly in food items like beef, fish, and vegetables. The… Source link

With several threats to the future of its business, Facebook wants to start “a new chapter.”  Investors are unsure it will succeed in its grand metaverse ambitions and employees are confused. “Simply put, the market is questioning whether this company is now Yahoo! 3.0,” an analyst said. Facebook is at a perilous time in its history as Mark Zuckerberg bets his company on… Source link

Move over Tesla Model S (TSLA) and Mercedes-Benz EQS (MGB.DE), a new top of the line electric sedan is here. BMW (BMW.DE) took the wraps off its all-new top-of-the-line 7 Series, with three new models, including an electric version for the first time. Dubbed the i7 xDrive60, the all-wheel drive EV version features two electric motors with a combined output of 536 horsepower and 549 lb-ft of torque. The car can hit 0-60 mph in 4.5 seconds, BWM says, and will have an estimated range of 300… Source link

Google has shared a screenshot of its new cookie consent popup. At first, the new popup will be available on YouTube in France. But the company says it plans to roll out the new design across Google services in Europe. This updated design comes a few months after the CNIL, France’s data watchdog, fined Google €150 million ($163 million at today’s exchange rate) for breaching French law. According to the French authority, Google failed to comply with current regulation when it… Source link

Google is introducing new options to reject tracking cookies in Europe after its existing dialog boxes were found to be in violation of EU data laws. Earlier this year, France’s data protection agency CNIL fined Google €150 million ($170 million) for deploying confusing language in cookie banners. Previously, Google allowed users to accept all tracking cookies with a single click, but forced people to click through various menus to reject them all. This asymmetry was unlawful, said… Source link

Millions of dollars in student loan debt could have been cancelled already had the student loan machinery worked properly, according to a government watchdog. A new report by the Government Accountability Office (GAO) looked into income-driven repayment (IDR) plans and found that as of June 1, 2021, around 7,700 student loans were due to be forgiven under existing rules — but the Education Department (ED) had only approved 157 loans to actually be discharged. “Until Education takes steps to… Source link

The logo of Russian internet group Yandex is pictured at the company’s headquarter in Moscow, Russia October 4, 2018. REUTERS/Shamil Zhumatov/File Photo Register now for FREE unlimited access to Reuters.com Register April 21 (Reuters) – Russian internet giant Yandex (YNDX.O) on Thursday withdrew its 2022 financial forecasts and said it was scaling back planned investments, one of several Russian companies grappling with Moscow’s increasing isolation in the wake of the conflict in Ukraine. Just… Source link

U.S. stocks advanced Thursday as investors continued to monitor a steady stream of corporate earnings results against a backdrop of elevated inflation and further Fed policy tightening. The S&P 500 rose by about 0.9% just after the opening bell. The Dow Jones Industrial Average also gained. The Nasdaq outperformed, rising by more than 1% to reverse some of Wednesday’s losses, when the tech-heavy index was weighed down by a slide in shares of Netflix. Meanwhile, Tesla (TLSA) shares jumped more… Source link