Shares of Netflix (NFLX) are imploding after the company reported its first quarterly loss of subscribers in more than a decade, far underperforming expectations and worrying investors that had been betting that a handful of big tech companies would continue to grow at a rapid clip. What’s happening: Netflix’s stock dropped 30% when the market […]
Category: Business
Is the US economy already in a recession? ‘Probably’ says market expert
During an interview on “Mornings with Maria” market expert Mark Yusko argued the U.S. economy is “probably” already in a recession, and that government spending and money printing created the inflation Americans are experiencing today. MARK YUSKO: “The Fed is in a box. They are powerless against the two things that they fear most. One, […]
For the 1st time in 10 years, Netflix has lost viewers, stock tanks, says password sharing is to blame
Netflix has lost 200,000 U.S. subscribers in the first quarter of 2022, marking its first drop in customers in more than a decade, the company announced Tuesday. It attributed the losses to factors such as stronger competition, the Ukraine-Russia conflict and password sharing. In a letter to shareholders, the entertainment company said it relied on […]
Most of today’s renters believe they will never own a home as prices keep rising
Faced with a white-hot real estate market, renters are losing confidence they will ever own a home. On average only 43.3% of renters expect to own a home at some point in the future, down sharply from 51.6% in 2021, according to a Federal Reserve Bank of New York survey released on Monday. High prices […]
Judge rules against mandate; Uber, Amtrak, airlines dropping mask requirements for customers and employees
Companies have lifted COVID-19-related restrictions following a federal judge’s decision to strike down the national mask mandate. Airlines and airports eagerly dropped the mask restrictions on Monday after the Transportation Security Administration (TSA) announced it wouldn’t enforce the January 2021 order that applied to airplanes, airports, taxis and other mass transit. The Centers for Disease […]
Green-Energy Inflation is on the way
If you think inflation is bad, wait until the rest of the commodity markets really heat up. Although prices for basic materials like copper, aluminum, nickel and steel—used to build everything—have already inflated, they haven’t yet escalated as much as fuels and energy-driven commodities like food. But they will if European and U.S. policy makers […]
Biden and Psaki desperate to pin blame on inflation on Putin
President Joe Biden and the White House continued this week to spin sky-high inflation numbers as voters balk at the rising cost of living — often relying on misleading arguments to deflect responsibility for the price hikes. Democrats have blamed a range of targets for causing prices to rise — from the war in Ukraine […]
Oil and gas drilling to reopen on public lands in a first under Biden
As federal officials weigh efforts to fight the climate crisis against pressure to bring down high gasoline prices, the interior department is moving forward with the first onshore sales of public oil and natural gas drilling leases under Joe Biden. The move also calls for a sharp increase in royalty rates for companies, ostensibly to […]
The simmering tension between remote and in-office workers
In February, Mark’s employer, an energy firm based in Ohio, US, told him he had to return to the office. The software engineer’s bosses had praised his output while working from home, and he never missed a deadline. Yet, in a company with more than 1,000 employees, it was only Mark’s department that initially received […]
Elon Musk offers to buy Twitter for 43 billion, will take it private
Tesla CEO Elon Musk offered to buy Twitter in a deal worth more than $43 billion and take the social media company private. Musk’s best and final offer was to pay $54.20 per share for 100% of Twitter, and said that if his offer was not accepted he’d have to reconsider his position as a […]
Inflation hits a new 40-year high in March 8.5%
America’s inflation problem didn’t abate in March. Prices kept creeping up, hitting a fresh 40-year high, data from the Bureau of Labor Statistics showed Tuesday. The Consumer Price Index rose 8.5% for the year ended in March, not adjusted for seasonal swings. That outpaced February’s elevated reading of 7.9% and marked a level not seen […]
In economic views, Americans believe inflation outweighs jobs
This week’s positive jobs report and the stronger employment rate aren’t entirely lost on Americans — just outweighed when they rate the economy. Many do say the job market is good and that jobs have increased over the last year – but it’s still inflation driving views, and even those who say the job market […]