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U.S. consumer prices in June accelerated at the fastest annual pace since November 1981. The Bureau of Labor Statistics’ Consumer Price Index (CPI) reflected a year-over-year increase of 9.1% last month, up from the prior 40-year high of 8.6% in May. Economists were expecting June’s reading to show an 8.8% increase, according to estimates compiled by Bloomberg. On a monthly basis, the broadest measure of inflation rose at a pace of 1.3%, inching up from 1% in May and climbing at a faster tempo… Source link

Text size Google joins other tech companies that are scaling back recruitment amid rising inflation. Sean Gallup/Getty Images … Source link

Amazon (AMZN) is hosting its annual Prime Day event this week. That means you’re likely scouring the e-commerce giant’s site and app for sales on everything from diapers to doorknobs if you pay the annual fee of $14.99 a month or $139 a year to be a Prime member. But Prime Day isn’t only a major event for shoppers. It’s also an opportunity for scammers hoping to exploit the event’s massive popularity to steal Amazon customers’ data. According to Check Point Research, the… Source link

(Bloomberg) — Across China, homebuyers are refusing to pay mortgages as property developers drag on construction projects, escalating the country’s real estate crisis and risks of bad debt for banks. Most Read from Bloomberg Buyers of 35 projects across 22 cities have decided to stop paying mortgages as of July 12 due to project delays and a drop in real estate prices, Citigroup Inc. analysts led by Griffin Chan wrote in a research report distributed on Wednesday. The payment refusals… Source link

Kevin Durant is the co-star of the NBA’s hottest offseason drama. Adam Silver prefers that he wasn’t. The NBA commissioner held a news conference on Tuesday from the league’s owners meetings. He was asked directly about his thoughts on Durant’s trade request with the entirety of his four-year $194 million contract extension remaining. He’s not happy about it. “I don’t know whether he requested a trade or demanded one, frankly,” Silver said. “This needs to be a two-way street. Teams provide… Source link

Sundar Pichai, boss of Google and its parent Alphabet, told employees to “be more entrepreneurial” and work with “more hunger” in a staff-wide email that warned of consolidation, several news outlets reported. Citing the “uncertain global economic outlook,” the CEO said Google would slow its hiring pace for the second half of 2022. Google brought on a whopping 10,000 workers during the second quarter, per Pichai. The chief Googler went on to say the… Source link

Comment on this story Comment Google will slow down its pace of hiring in response to an “uncertain” global economic outlook, chief executive Sundar Pichai wrote in an email to employees that was obtained by The Washington Post. The company has already hired thousands of employees this year and will continue to hire, but it will start focusing its hiring efforts on engineering and other “technical” roles, Pichai wrote in the memo. “We need to be more entrepreneurial, working with… Source link

The departure of head coach Quin Snyder and trade of Rudy Gobert to the Minnesota Timberwolves initiated an imminent teardown and rebuild in Utah. Yet the Jazz initially signaled they weren’t ready to part with Donovan Mitchell, an All-Star in his prime on a team with no prospect of contending anytime soon. Now it appears that they’re at least open to dealing Mitchell. ESPN’s Adrian Wojnarowski reported Tuesday the Jazz “are showing a willingness to listen on possible trade… Source link

LOS ANGELES, CALIFORNIA – JUNE 09: Google CEO Sundar Pichai speaks at a panel at the CEO Summit of the Americas hosted by the U.S. Chamber of Commerce on June 09, 2022 in Los Angeles, California. The CEO Summit entered its second day of events with a formal signing for the “International Coalition to Connect Marine Protected Areas” and a speech from U.S. President Joe Biden. (Photo by Anna Moneymaker/Getty Images) Anna Moneymaker | Getty Images News | Getty Images Google parent Alphabet will… Source link

Google has told employees that it’ll be “slowing down the pace of hiring for the rest of the year,” according to an internal memo Tuesday by CEO Sundar Pichai obtained by The Verge. Pichai says the company will have to “be more entrepreneurial” and work with “greater urgency, sharper focus, and more hunger than we’ve shown on sunnier days.” You can read the full memo below. According to the memo, the company isn’t freezing hiring entirely; it’ll still hire for… Source link