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Bob Iger Announces Disney’s Restructuring Plan and Cost Savings
Bob Iger, the CEO of The Walt Disney Company, announced a massive restructuring of the world’s largest entertainment company on Wednesday.[0] The new plan includes cutting 7,000 jobs and making $5.5 billion in cost savings. The reorganization will divide the company into three core businesses: Disney Entertainment, ESPN and Disney Parks, Experiences and Products.[1] The […]
Continue reading Americans Remain Optimistic Despite Economic Woes
A new Gallup poll released Wednesday found that half of Americans have reported their financial situation is worse than it was a year ago, the highest amount since the Great Recession of 2008 and 2009.[0] Despite this, Americans remain optimistic about the coming year, with 60% expecting to be better off financially and 28% expecting […]
Continue reading Biden’s State of the Union: A Message of Unity and Left-Wing Populism
In his State of the Union address on Feb. 7, President Joe Biden sought to push his economic agenda and called for renewed bipartisanship, while also being met with loud objections from Republican lawmakers. Biden began by congratulating the new House Speaker Kevin McCarthy and stressing how in his first two years Democrats and Republicans […]
Continue reading Biden’s State of the Union Address: A Call for Bipartisanship and International Cooperation
On Tuesday night, President Joe Biden delivered his second State of the Union address, and it was marked by a distinct shift in tone from previous such speeches.[0] In what was a soft launch for his 2024 presidential bid, Biden spoke with a conciliatory tone to Republicans and called for bipartisan cooperation to address the […]
Continue reading Zoom Announces Layoffs and Executive Pay Cuts
Zoom Video Communications Inc., the San Jose-based video conferencing software company that became ubiquitous during the pandemic, has announced it will lay off 1,300 employees, or around 15% of its workforce.[0] This is the latest in a series of Big Tech layoffs, joining Microsoft, Amazon, Meta, and PayPal.[1] In a memo to employees, Zoom’s CEO, […]
Continue reading Fed Chairman Powell Comments on Disinflationary Process and Rate Increase Expectations
Today, investors are anxiously looking forward to Jerome Powell, Chairman of the Federal Reserve, speaking before the Washington Economic Club.[0] Markets are waiting for clues regarding future interest rate movements following the jobs report on Friday, which was much better than expected.[0] Powell’s hawkish comments are likely to have an impact on the market’s direction […]
Continue reading BP Reports Record Profit and Increases Dividends, Investing in Renewable Energy and Oil and Gas
BP has reported a record full-year 2022 adjusted profit of $27.6 billion and announced a 10% increase in shareholder dividends and an extension of the company’s share buyback programme.[0] As a result of Russia’s war in Ukraine, countries are looking to prioritize domestic renewable energy sources as a way to increase security of supply while […]
Continue reading Fed Looks to Raise Rates Further to Combat Inflation
The Federal Reserve Bank of Atlanta President Raphael Bostic said Monday that the strong jobs report released in January could lead to the central bank increasing its key interest rate to a higher peak than what policymakers had previously expected.[0] The news comes after the Federal Open Market Committee (FOMC) raised its policy interest rate […]
Continue reading Housing Market Heats Up Again: Experts Forecast Price Slowdown Rather Than Crash
Economists have long been forecasting that the overheated housing market would subside as home values become a casualty of their own success.[0] Since August 2021, housing prices have increased at a faster rate than incomes, making it difficult to afford a home. Additionally, mortgage rates have doubled, but recently began to decrease slightly.[0] This has […]
Continue reading President Biden’s State of the Union Address: Policy Achievements, Police Reform, and Potential 2024 Bid
President Joe Biden is set to deliver his second State of the Union address tomorrow evening, with a divided Congress and a looming 2024 election on the horizon.[0] Biden is expected to tout his administration’s achievements and the relatively good state of the US economy, while also mourn the death of Tyre Nichols in Memphis […]
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