Tag Archives: Hits

With inflation surging and pandemic-related stimulus rolling off the books, U.S. savers are under pressure. In April, the U.S. personal savings rate fell to 4.4%, the lowest since September 2008, according to data from the Commerce Department published Friday. “In a typical cycle, a sharp drop in the saving rate would be a warning sign about the sustainability of spending,” Wells Fargo economists led by Tim Quinlan wrote in a note published earlier this week. “Because balance sheets are in such… Source link

(Bloomberg) — Snap Inc. plunged 43%, posting its biggest-ever one-day drop and dragging down social media peers, after the company cut its revenue and profit forecasts, blaming the weaker economic outlook for a sudden slowdown of its advertising business. Most Read from Bloomberg “We continue to face rising inflation and interest rates, supply chain shortages and labor disruptions, platform policy changes, the impact of the war in Ukraine, and more,” Chief Executive Officer Evan Spiegel… Source link

China has slammed Australia for opposing its security pact with Solomon Islands, calling it a colonialist myth-driven violation of sovereignty and saying Canberra had no right to lay down any “red line”. This came as Australian Prime Minister Scott Morrison said a Chinese military base in the South Pacific nation would be a “red line” for his government, days after Beijing and Honiara confirmed the signing of the deal without revealing details. Talk of China building a naval base on Solomon… Source link

(Bloomberg) — It’s been a painful week for traders of China’s stocks, bonds and currency as growing fears about the fallout from the nation’s Covid Zero strategy send markets tumbling. Most Read from Bloomberg The Hang Seng China Enterprises Index of big mainland companies listed in Hong Kong is among the worst-performing stock benchmarks globally this week. The offshore yuan extended declines, hitting the weakest level in a year. High-yield dollar bonds are headed for the longest… Source link

Michigan state Sen. Mallory McMorrow pushed back in a viral speech against the growing trend of Republicans labeling their Democratic opponents as groomers and pedophiles. McMorrow responded Tuesday morning to accusations made in a fundraising email by Republican state Sen. Lana Theis that her Democratic colleague wanted to “groom and sexualize kindergarteners.” “I didn’t expect to wake up yesterday to the news that the senator from the 22nd District had, overnight, accused me by name… Source link

It should tell you something that a Spencer Dinwiddie buzzer-beating 3-pointer to beat his old Brooklyn Nets team may have only been the third-wildest shot in the game’s final 30 seconds. Before Dinwiddie ended the game, the Nets and Dallas Mavericks had fought to a 108-108 tie going into the final half-minute. With the ball, the Mavericks turned to Luka Doncic, who pushed the ball into the paint then hit a Dirk Nowitzki-esque fadeaway to silence the Barclays Center crowd. That crowd became… Source link

Putin’s regime continues to tighten its grip on how information on the war in Ukraine is shared in Russia, and in the wake of that, tech giants in the country — which, like Facebook, Google and Twitter, are also major players in the media sphere — are starting to restructure their media assets. Yesterday Russian press reported that Yandex — a local giant often called the “Russian Google” — is in negotiations to sell its media division, with Russian social networking giant… Source link

Putin’s regime continues to tighten its grip on how information on the war in Ukraine is shared in Russia, and in the wake of that, tech giants in the country — which, like Facebook, Google and Twitter, are also major players in the media sphere — are starting to restructure their media assets. Yesterday Russian press reported that Yandex — a local giant often called the “Russian Google” — is in negotiations to sell its media division, with Russian social networking giant VK named as… Source link

Putin’s regime continues to tighten its grip on how information on the war in Ukraine is shared in Russia, and in the wake of that, tech giants in the country — which, like Facebook, Google and Twitter, are also major players in the media sphere — are starting to restructure their media assets. Yesterday Russian press reported that Yandex — a local giant often called the “Russian Google” — is in negotiations to sell its media division, with Russian social networking giant VK named as… Source link

Wall Street’s main benchmarks were little changed at the start of overnight trading Monday after stocks closed mostly lower to start the week. Investors continued to monitor the Russia-Ukraine war and braced for a key monetary policy decision due out of the Federal Reserve Wednesday that could place short-term interest rates above near-zero levels for the first time since 2018. Contracts on the S&P 500, Dow Jones Industrial Average and Nasdaq Composite ticked up slightly at the open after… Source link