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Business News

Location American Business News for 4 November 2022
How to change your Netflix subscription plan, if you want to try the new $7 Basic with Ads monthly price It's easy to change your Netflix plan if you feel that your current plan doesn't match your viewing habits or budget anymore. Here's how to do it.
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Elon Musk says Twitter has seen 'massive drop' in revenue, blames 'activist groups' "Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers," Musk said.
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GM, Audi, Pfizer Pull Ads From Twitter After Musk Sale--Here Are The Other Companies Rethinking Their Ties Elon Musk's promise to keep Twitter from becoming a "free-for-all hellscape" isn't convincing some big advertisers.
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Read the first memo from Elon Musk's Twitter to employees confirming plans for layoffs and ordering the temporary closure of all offices The company was acquired by Elon Musk last week and the billionaire is set to lay off more than 3,700 staff on Friday.
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Alation, which has built an ecosystem around data intelligence, today announced it has raised $123 million in a series E financing round.
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Should You Pay for a Credit Repair Service?

Money Crashers - 4 Nov 2022 22:22
A bad credit score hurts you in many ways. Credit repair companies offer to help you fix your score for a fee. But are they worth it? We take a closer look. The post Should You Pay for a Credit Repair Service? appeared f...
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Elon Musk Says Twitter Has Had Massive Revenue Drop

Wall Street Journal - 4 Nov 2022 17:19
Elon Musk Says Twitter Has Had Massive Revenue Drop Elon Musk tweeted that Twitter has had a massive drop in revenue due to activist groups pressuring advertisers, as the social-media company started sweeping layoffs just over a week after the billionaire took it over.
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U.S. Added 261,000 Jobs in October

Wall Street Journal - 4 Nov 2022 14:55
U.S. Added 261,000 Jobs in October U.S. employers added 261,000 jobs in October, reflecting continued resilience in the labor market. The jobless rate rose to 3.7%.
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"The dynamics of a once-hot housing market have faded considerably," Freddie Mac said even as it reported mortgage rates have dipped below 7%.
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Some Dodge and Chrysler drivers have been told not to drive their cars after faulty airbags caused three deaths in 7 months Stellantis issued the 'Do Not Drive' notice due to faults with Takata airbags, which can rupture when exposed to heat and humidity over a long-time.
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Harvard economist Kenneth Rogoff says beating US inflation might require a 6% interest rate - and a severe recession is looming A long and painful economic downturn is a real risk as the Fed continues to hike rates and overseas headwinds mount, Rogoff said.
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Companies are suspending ads on Twitter after Elon Musk's takeover. Here's the full list of brands pressing pause on advertising. Companies including GM, Volkswagen, Audi, and Pfizer have reportedly paused ads on the platform, per The Wall Street Journal.
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Chicago investment exec A. Steven Crown was the buyer who paid $17.4M in March for Walton Street condo The purchase was one of the city's highest-priced condo purchases on record
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Iron-ore prices have slumped to a three-year low as China's sharp homebuilding slowdown and zero-Covid strategy sap demand for the steelmaking commodity.
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Chip Makers Cut Costs as Demand Slump Supplants Pandemic's Chip Shortage After sharp growth from Covid, semiconductor executives are now enacting hiring pauses.
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IRS prepares for an increase in crypto cases in the upcoming tax season The criminal investigation division of the IRS says it is preparing hundreds of crypto-related cases for the upcoming tax season.
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Bitcoin bulls face $21K sellers as BTC price wipes out Fed FOMC losses $21,000 is looking tricky as sell orders mount, while buy walls dry up, taking potential support with them.
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France's EDF Warns of Lower Output Across Nuclear Fleet

Wall Street Journal - 4 Nov 2022 12:57
France's EDF Warns of Lower Output Across Nuclear Fleet The energy company's announcement deals a setback to France's efforts to ride out Europe's energy crisis amid a spell of unseasonably warm weather.
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The Fed could let the slowdown last up to 3 years to bring inflation down, top Morgan Stanley economist says The US central bank appears to be shifting to more gradual interest rate hikes as it tries to tame soaring inflation.
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The social media giant says staff will be told on Friday whether they are to be laid off.
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Atlassian's free users are also converting to paid customers more slowly.
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US Lawmakers Accuse Gary Gensler of 'Hypocritical Mismanagement of SEC' -- Say the Chairman 'Refuses to Practice What He Preaches' Four congressmen have accused the U.S. Securities and Exchange Commission (SEC) under Chairman Gary Gensler of “regulatory hypocrisy and inconsistency.” They added: “While the SEC is failing to comply with federal ...
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