Tag Archives: cuts

Morgan Stanley’s Adam Jonas is the latest analyst to raise some concerns with Tesla (TSLA). In a note to clients, Jonas wondered, “Could Tesla lose money (sometime) this year?” In cutting his price target to $320 from $345 (still one of the more bullish targets on the Street), Jonas noted concerns such as continued lag in EV demand despite price cuts, fleet operators like Hertz dumping EVs, and “strong hybrid momentum” peeling away potential EV buyers who are on the fence. Jonas said… Source link

[unable to retrieve full-text content]Stock market today: Stocks rebound as Powell sticks to script on rate cuts  Yahoo Finance Source link

Federal Reserve Chair Jerome Powell plans to tell House lawmakers Wednesday that interest rate cuts are likely “at some point” in 2024, but that the central bank will proceed cautiously as it evaluates whether inflation is cooling appropriately. “If the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year,” Powell said in a copy of his prepared remarks to the House Financial Services Committee. The group at the Fed… Source link

Angle down icon An icon in the shape of an angle pointing down. Google laid off the YouTube Music team on Friday. The Alphabet Workers Union said members were paid as little as $19 an hour. Getty Images The entire YouTube Music team is out of a job after going on strike last year. Some of the workers were lobbying for support for their union at an Austin City Council meeting. A Google spokesperson said the move was a regular contract termination. The entire YouTube Music team… Source link

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A union representing contractors for YouTube Music claims that Google cut the workers’ contract after they went on a prolonged strike.  The Alphabet Workers Union-CWA, which represents the contractors, said the team consisted of moderators employed by Google contractor Cognizant in Austin, Texas, that was responsible for approving music content for YouTube Music. In a statement emailed to The Verge, Google spokesperson Courtenay Mencini maintained the decision to cut the team did not lie… Source link

The Federal Reserve maintained its benchmark interest rate on Wednesday in a range of 5.25%-5.50%, the highest since 2001, and cautioned it won’t begin lowering interest rates until it sees further progress on inflation returning to its 2% target. “The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2%,” the Fed said in its policy statement. Fed chair Jerome Powell at his Wednesday… Source link

Google has laid off over a thousand employees across various departments since January 10th. CEO Sundar Pichai’s message is to brace for more cuts. “We have ambitious goals and will be investing in our big priorities this year,” Pichai told all Google employees on Wednesday in an internal memo that was shared with me. “The reality is that to create the capacity for this investment, we have to make tough choices.” So far, those “tough choices” have included layoffs and… Source link

Spot bitcoin ETF Franklin Templeton Digital Holdings Trust (EZBC) has cut its fee, making it (as of late Friday morning) the lowest among all current issuers. The asset management firm will also waive fees until the fund reaches $10 billion in assets under management. The newly approved spot bitcoin ETFs collectively saw more than $4 billion in volume on the first day of trading. Sandy Kaul, Franklin Templeton’s Head of Digital Asset and Investor Advisory Services, joins Yahoo Finance Live to… Source link

Tech giants Amazon and Google unleash hundreds of employee layoffs in various divisions. CRN breaks down each layoff announcement and the biggest takeaways. Amazon and Google are laying off a few thousand employees, combined, across various business groups as the two IT giants confirmed several different employee cuts this week as 2024 kicks off. … Source link