Month: May 2022
Apple is no longer the world’s most valuable company
Tim Cook, CEO of Apple Inc. Adam Jeffery | CNBC Oil giant Saudi Aramco on Wednesday surpassed Apple as the world’s most valuable firm. Aramco’s market valuation was just under $2.43 trillion on Wednesday, according to FactSet, which converted its market cap to dollars. Apple, which fell over 5% during trading in the U.S. on […]
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Hotter-than-expected CPI report shows broader-based inflation that will be ‘very hard to kill’
Consumer inflation rose at a hotter-than-expected 8.3% pace in April, fueled by worrisome gains across the services sector. Source
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Disney shares rise after company beats estimates on streaming subscribers
In this photo illustration a close-up of a hand holding a TV remote control seen displayed in front of the Disney+ logo. Thiago Prudencio | SOPA Images | LightRocket | Getty Images Disney reported earnings after the bell. Here are the results. Earnings per share: $1.08 adj. Revenue: $19.25 billion Disney+ total subscriptions: 137.7 million […]
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Cushman & Wakefield appeals subpoenas order in Trump Organization probe by New York attorney general
The entrance to Trump Tower on 5th Avenue is pictured in the Manhattan borough of New York City, May 19, 2021. Shannon Stapleton | Reuters Commercial real-estate services giant Cushman & Wakefield on Wednesday appealed a judge’s order that it comply with subpoenas issued by the New York attorney general’s office seeking documents related to […]
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Google teases smart glasses prototype that translates languages in real time
Google AR glasses prototype Google Google CEO Sundar Pichai on Wednesday teased a pair of smart glasses capable of translating languages in real-time. Pichai showed a video demo of the glasses during Google’s I/O developer summit. While they’re still just a prototype, Google suggested the glasses can show live language translations to the person wearing […]
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Dallas Federal Reserve names Lorie Logan new president to succeed Robert Kaplan
The Dallas Federal Reserve has named a new president to succeed its former one, who left the post last year following a controversy over stock trading. Lorie K. Logan will serve as head of the central bank branch, according to an announcement Wednesday. Central bank watchers know Logan’s name well, as she currently serves as […]
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Google announces its first smartwatch, a new budget phone and more
Google announced several new gadgets during its I/O developer conference on Wednesday, including its long-awaited Pixel Watch, a new budget Pixel 6a phone and headphones. It also teased its flagship Pixel 7 phone, which is coming this fall, and said it’s working on a new tablet. Hardware isn’t a key part of Google’s business, but […]
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Piper Sandler sees much more pain ahead, stocks not bottoming until 2023
The worst of the sell-off is still to come, according to Piper Sandler. Source
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McDonald’s franchisees are worried the company’s new grading system will alienate workers
McDonald’s franchise owners are expressing concern and frustration over a new grading system the fast food giant is planning to roll out early next year, with some saying it is poor timing due to unprecedented pressures in the workforce. The company plans to enact the system, called Operations PACE, which stands for Performance and Customer […]
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How fast does inflation cut buying power? Here’s a simple guide
Luis Alvarez | Digitalvision | Getty Images Inflation is hovering near 40-year highs. The Consumer Price Index, a key inflation metric, increased 8.3% in April from a year ago, the largest jump since the summer of 1982, the U.S. Department of Labor said Wednesday. While a slight reduction from the 8.5% rate in March, the […]
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