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Business News

Location American Business News for 2 February 2023
Chinese Economist Urges Government to Reconsider Crypto Ban -- Warns of Missed Tech Opportunities An economics professor and former adviser to the People’s Bank of China has urged the Chinese government to reconsider its ban on cryptocurrencies. He warned that banning crypto activities could result in missed opport...
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Harley-Davidson Earnings Boosted by Higher Shipments

Wall Street Journal - 2 Feb 2023 14:55
Harley-Davidson Earnings Boosted by Higher Shipments The motorcycle company said global shipments rose 18% from a year before, sending total revenue up 12%.
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Why New Retirees Might Want to Travel Right Away

Wall Street Journal - 2 Feb 2023 17:00
We traveled immediately after retiring. Our adventure gave us some much-needed breathing room.
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GM salaried workers should expect smaller bonuses: How formula works GM revealed to its white-collar workforce the formula for the 2022 bonus payouts and while it is not as high as 2021, many say it is still good.      
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Comcast has sold part of its stake in Buzzfeed, which has seen its shares surge in recent days amid enthusiasm for the publisher's AI efforts.
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Meta's layoffs were expensive — it may have spent more than $88,000 per employee to cut 11,000 from the ranks Meta's severance and personnel costs, following layoffs announced in November, totaled nearly $1 billion, the company reported Wednesday.
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Meta is slashing its costs by another $4 billion, and investors are thrilled Meta said it will slash expenses, with Mark Zuckerberg saying 2023 will be the "year of efficiency." Investors loved to hear it. The stock rose 19%.
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India's Largest Retail Chain to Accept Payments in CBDC India's largest retailer Reliance Retail has announced plans to accept payments in the digital rupee in a move that could boost the nation's adoption of CBDCs....
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Bank of England raises UK interest rates to 4%

The Guardian - 2 Feb 2023 14:01
Bank of England raises UK interest rates to 4% More pressure on mortgage payers and businesses after hike of 0.5 points lifts rates to 14-year high The Bank of England has raised interest rates by 0.5 percentage points to 4%, piling more pressure on mortgage payers a...
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Amazon Poised to Post Slowest Sales Growth in Decades

Wall Street Journal - 2 Feb 2023 12:30
Amazon Poised to Post Slowest Sales Growth in Decades The company's e-commerce services and cloud-computing business are feeling the sting from recession concerns.
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Apple Sales Are Expected to Show First Decline in Nearly Four Years The iPhone maker contended with manufacturing disruptions in China during the December quarter.
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Pathaan Day 8 collection: SRK starrer set to breach ₹350-crore mark in India This second Wednesday earning will help the movie earn a total of ₹350 crore in total. Notably no movie release has been slated in the next two weeks, thereby facilitating a further good run of Pathaan.
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I'm a cart girl on a golf course. I wear pigtails and red nail polish to get higher tips from men — even if it grosses me out sometimes. "On one hand, it makes me feel powerful to wrap men around my fingers," says cart girl Zalaiya Nefwani. "On the other, it makes me uncomfortable."
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London Crowned World's Leading Cryptocurrency Hub, According to Study According to research from Recap, a cryptocurrency tax software company, London has become the world’s leading hub for cryptocurrencies. The researchers analyzed eight indicators, including the number of cryptocurrency...
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Why $112 Million-Rated Moisés Caicedo Shouldn't Leave Brighton This Year There is a strong case for the highly valued Ecuadorian talent to remain part of the Brighton and Hove Albion project beyond this summer.
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BonqDAO protocol suffers $120M loss after oracle hack

Coin Telegraph - 2 Feb 2023 02:33
BonqDAO protocol suffers $120M loss after oracle hack An oracle hack allowed the exploiter to manipulate the price of the AllianceBlock token, leading to an estimated $120 million loss, according to Peckshield.
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Meta CEO Mark Zuckerberg makes a U-turn on metaverse spending as Reality Labs is hit with a new 'efficiency' mantra Meta founder and CEO Mark Zuckerberg wants to be leaner as his metaverse division Reality Labs lost more than $13 billion in 2022.
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Beleaguered retailer Bed Bath & Beyond Inc. has missed interest payments on its bonds, the Wall Street Journal reported late Wednesday, as the possibility of bankruptcy looms over the company.
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Amazon's Anti-Union Consultant Broke The Law, Judge Rules

The Huffington Post - 2 Feb 2023 02:18
Amazon's Anti-Union Consultant Broke The Law, Judge Rules The online retail giant paid Katie Lev's firm hundreds of thousands of dollars in an effort to defeat an organizing campaign in New York.
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5 ways to stay on top of a topsy-turvy stock market and come out ahead.
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Bed Bath & Beyond Misses Interest Payments as It Weighs Chapter 11 The home-goods retailer in January warned of a potential bankruptcy filing and said it is running low on funds.
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Debt Ceiling Showdown: McCarthy And Biden Had 'Very Good Discussion,' Speaker Says--But No Deal Yet The White House released a statement not quite as upbeat about the meeting, saying the president looks forward to further discussions.
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