Ebay layoffs: 500 jobs cut
Ebay On Tuesday it announced plans to cut 500 jobs, or about 4% of its workforce, according to a filing with the SEC. Shares of eBay rose slightly in full trading Tuesday. In a memo to employees, CEO Jamie Iannone…
Category Business
Unemployment is one of the biggest drivers of terrorism
high unemployment and lack of opportunities for young people can be a massive drag on the economy, but also one of the biggest recruitment drivers for extremist groups and terrorists, a new report has found. Even before COVID-19, global youth…
US stocks tick up after Powell comments
US equities rose on Tuesday after Federal Reserve chairman Jay Powell’s remarks for the first time since January’s blockbuster jobs data sent a chill through markets. In a question-and-answer session with the Economic Club of Washington, Powell warned that the…
Berkshire stock is trading at a level where Buffett tends to increase buyback
Shares of Warren Buffett’s Berkshire Hathaway are currently being sold at a significant discount to the conglomerate’s intrinsic value, which could prompt the “Oracle of Omaha” to buy back shares, according to UBS. “BRK shares are trading at a discount…
Zoom lays off 1,300 workers after tripling headcount: ‘We didn’t take as much time as we should have to thoroughly analyze our teams’
Zoom Video Communications Inc. laid off 15% of its employees as the ubiquitous service during the pandemic adapted to slower growth. The company will cut about 1,300 jobs as part of the restructuring, CEO Eric Yuan said Tuesday in a…
Adani exposure watch: Indian bank edition
Indian banks’ exposure to the Adani Group is “manageable”, according to CreditSights. Or, by the end of 2022, at least. The Reserve Bank of India has reportedly asked the country’s lenders to submit information about their exposure to the Adani…
Loan calculator shows how quickly you can get out of debt
America’s credit card debt rose last year as consumers tried to stay afloat amid high inflation and rising interest rates. Total credit card debt in the US will rise to $930 billion by the end of 2022, according to TransUnion’s…
JP Morgan: Clean energy is a massive investment opportunity. We’re on track to finance $1 trillion for green by 2030
The International Energy Agency (IEA) recently observed that “the energy world is at the beginning of a new industrial era – the era of manufacturing clean energy technologies.” Capitalizing on this opportunity, while also improving energy security and meeting today’s…
BP: Looney leans in to a longer runoff for oil
BP’s Bernard Looney claims he is “leaning” on a renewables strategy. Lean too far, and people can end up staggering. Energy prices rose last year. But shares of the former UK-listed oil major are far behind US rivals ExxonMobil and…
Bed Bath & Beyond to raise $1 billion to avoid bankruptcy
A Bed Bath & Beyond store in the Brooklyn borough of New York, USA, on February 6, 2023. Bed Bath & Beyond Inc. said it will close another 87 stores in addition to the 150 closures announced in August. Stephanie…