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Meta (META) could be bracing for a “tornado-like quarter,” says Wedbush Managing Director Dan Ives. The social media giant, like other tech companies, is scaling back hiring plans as it braces for an economic downturn. This week Meta’s founder and CEO Mark Zuckerberg said the company would cut back its hiring target for this year by at least 30%. “If I had to bet, I’d say that this might be one of the worst downturns that we’ve seen in recent history,” Zuckerberg told employees during a weekly… Source link

Free agent forward Otto Porter Jr. has reached an agreement with the Toronto Raptors on a two-year deal with the second being a player option, league sources told Yahoo Sports. The 2022 NBA champion is leaving the Golden State Warriors after a productive first season in the Bay. He averaged 8.2 points, 5.7 rebounds and shot 46.4% from the field. The journeyman bounced around the league in recent years, adding another stop in his NBA career. Porter Jr. was the third overall pick in the 2013 NBA… Source link

The proposed settlement is designed to address app developers’ years-long allegations that Google (GOOGL (GOOGL)) imposes onerous and anticompetitive restrictions on app makers as a condition of hosting their apps on its Google Play Store. “A vast majority of U.S. developers who earned revenue through Google Play will be eligible to receive money from this fund, if they choose,” Google said in a blog post announcing the agreement, which is open to app-makers who earned $2 million or less… Source link

Expect to see some areas of the housing market cool more than others amid higher mortgage rates and a slowing economy, says one expert. “In the really overpriced markets, like Tampa, Austin, and West Palm Beach, you’re starting to see a lot of price reductions,” Ralph DiBugnara, president of Home Qualified told Yahoo Finance. “A lot of those areas were just very, very overpriced.” Those areas which saw the biggest price increases during the pandemic are now seeing some of the largest… Source link

Former Google CEO Eric Schmidt shares details about the “brutal” review process employees had to go through when pitching ideas for new products. During a Q&A session at the Collision conference in Toronto, Schmidt was asked about his approach to forecasting futures and whether he uses a bottom-up or top-down approach. Collision is a conference geared toward startups and investors, so the questions asked were all within that realm. One question prompted Schmidt to drop some interesting… Source link

Free agent guard Ricky Rubio has reached an agreement with the Cleveland Cavaliers on a three-year, $18.4 million, league sources told Yahoo Sports. Rubio is coming off a torn ACL he suffered in December. Before the injury, Rubio was having a productive season in his first season in Cleveland. He averaged 13.1 points, 6.6 assists and 4.1 rebounds in 34 games last season. The 11-year journeyman looked to finally have a place with an up-and-coming NBA team, providing a veteran presence behind… Source link

(Google; The Washington Post illustration) In post-Roe America, Google searches and location records can be evidence of a crime. Here are four ways Google should protect civil rights in its products now. July 1, 2022 at 8:00 a.m. EDT Placeholder while article actions load We the users want Google to delete our data. Our rights depend on it. This is a moment I’ve long worried would arrive. The way tens of millions of Americans use everyday Google products has suddenly become dangerous. Following… Source link

(Bloomberg) — A “recession shock” begins for markets following the worst first-half for the S&P 500 in more than 50 years, Bank of America Corp.’s Chief Investment Strategist Michael Hartnett says. Most Read from Bloomberg While expectations of aggressive rate hikes by the Federal Reserve are peaking, inflation expectations are not, and Bofa’s bull and bear indicator remains at “maximum bearish” for a third week in a row, Hartnett wrote in a note. Both stocks and bonds were rocked… Source link

The market’s challenges may persist, prompting Goldman Sachs to stay cautious on recommending stocks even though they are at far cheaper levels than six months ago. “Until the growth/inflation mix improves volatility is likely to linger as investors are shifting between inflation frustration and recession obsession,” Goldman Sachs strategist Christian Mueller-Glissmann wrote in a new note to clients, adding that Goldman is positioned “defensively” for the next three months until macroeconomic… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, July 1, 2022 Today’s newsletter is by Sam Ro, the author of TKer.co. Follow him on Twitter at @SamRo. On Thursday, we learned the Fed’s preferred inflation measure — core PCE — moderated in May, rising 4.7% over the prior moth and marking the third-straight month of moderating price pressures. And while investors will be closely… Source link