Tag Archives: year

Wikimedia Commons Bank of America analysts expect US economic growth to slow to nearly zero by the second half of 2023. So while the risk of recession this year is low, BofA sees a 40% probability starting next year. And 2024 isn’t looking much better as analysts see only “a modest rebound” by then. Bank of America has sounded the alarm on the US economy, predicting growth will stall next year and that the likelihood of a recession will surge. In a note published on Friday — two days after the… Source link

Etsy’s (ETSY) stock has struggled this year so far, declining more than 66% this year to date. The entire tech sector’s been getting pummeled amid the broader bear market, but Etsy’s stock has been among the hardest hit. Snap (SNAP), Netflix (NFLX), and Shopify (SHOP) are among the other companies that have seen massive declines amid inflation, the war in Ukraine, rising gas prices, and escalating interest rates. Shares of Etsy, where crafters can sell their wares online, collapsed more than… Source link

Canadian e-commerce service Shopify (SHOP) was a certified pandemic-era darling, with its stock price soaring as high as $1,690.60 per share in November 2021. But high-flying inflation, a pullback in consumer spending online compared to during the pandemic, and increased competition are punishing the company, sending shares of Shopify plummeting 76% year-to-date to $331.42 at the start of trading Monday. Shopify’s woes aren’t unique. The company is just one of a host of big-name firms… Source link

Michael Lin began to find his engineering role repetitive and wanted to pivot to product management.Michael Lin Michael Lin joined Netflix in 2017 as a senior software engineer. At first, he enjoyed his role. After two years, Lin wanted to go into product management but found no clear pipeline to follow. He lost motivation and eventually received his preemptive severance package in May 2021. I started working at Netflix as a senior software engineer in 2017 after leaving my job at Amazon. I was… Source link

(Bloomberg) — Federal Reserve officials agreed at their gathering this month that they need to raise interest rates in half-point steps at their next two meetings, continuing an aggressive set of moves that would leave them with flexibility to shift gears later if needed. Most Read from Bloomberg While highlighting the “strong commitment and determination” of all policy makers to restore price stability, the minutes of the May 3-4 meeting, released Wednesday, showed officials attentive to… Source link

The Federal Reserve reported financial well-being last year reached the highest levels since at least 2013, underscoring the impact of economic stimulus that also led, in part, to high inflation. About 78% of the roughly 11,000 households surveyed by the Fed reported either “doing okay” financially or “living comfortably,” the highest level seen since the Fed began the survey in 2013. The report noted that household strength was particularly high among parents, due in part to the 2021… Source link

The bloodbath in the markets this past week wrecked retail stocks, as Walmart (WMT) posted its worst week ever, falling 20%. Amid the carnage, investors piled into beaten-down names like the Ark Innovation ETF (ARKK) while shunning the best performing sector of the year. The energy sector’s stunning 47% return this year stems from soaring oil and gas prices, as WTI crude oil futures (CL=F) surged 56% this year. Still, investors have yanked $705 billion from the iShares U.S. Energy ETF (XLE)… Source link

Top economists and money managers worldwide are warning that rising consumer prices and falling economic growth are combining to form a deadly recipe for the global economy—stagflation. Some 77% of investment fund managers say they see “below-trend growth and above-trend inflation,” a.k.a stagflation, as the most likely outcome for the global economy over the next year, according to a May survey from Bank of America Global Research. That’s the highest percentage seen since August… Source link

For more than a year now, the original COVID-19 vaccines have held up remarkably well — even miraculously so — against a Greek alphabet of new variants: Alpha, Beta, Gamma, Delta. But now experts say something is changing. Since the start of 2022, the initial version of Omicron, known as BA.1, has been spinning off new sublineages — BA.2, BA.2.12.1, BA.4, BA.5 — at an alarming pace. Earlier variants did this, too. But it never really mattered, because their offshoots “had no… Source link

While Google’s I/O developer conference isn’t exclusively dedicated to the digital workplace, there are enough announcements on workplace technologies to make it worthwhile taking a deeper dive, so that will be the focus of our news wrap up this week.  Google made a number announcements this year which look liked interesting additions to any organization operating in Google environments, particularly for those operating in a hybrid environment. So with no further ado, five… Source link