Author: Press Room

The former Amazon CEO joined over 200 guests at a White House state dinner on Wednesday.President Joe Biden hosted the dinner in honor of the prime minister of Japan, Fumio Kishida. Apple CEO Tim Cook and JP Morgan’s Jamie Dimon also attended the dinner. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Jeff Bezos, the founder and former CEO of Amazon, and his fiancée, Lauren Sánchez, a former news anchor and a philanthropist, were among about 200 guests at a White House state dinner on Wednesday.The couple went public…

We previously covered Netflix, Inc. (NASDAQ:NFLX) in January 2024, discussing why its streaming prospects might remain robust as the macroeconomic outlook lifted, significantly aided by the robust labor market as discretionary spending grew. Combined with the excellent FQ4’23 performance and impressive FQ1’24 guidance, the stock had also pulled forward part of its upside potential, with interested investors better off waiting for more attractive entry points despite the streaming company’s (prospective) long-term success. By now, NFLX has already drastically pulled back by -12.7% from its recent peak, as the market overreacts to the new subscriber reporting standard and the overall tech…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Huge bets by Chinese speculators on rising gold prices have helped super-charge the precious metal’s rally to an all-time high this month, in a sign that Asian traders are beginning to eclipse their western counterparts in their influence on the bullion market.Long gold positions held by futures traders on the Shanghai Futures Exchange (SHFE) climbed to 295,233 contracts, equivalent to 295 tonnes of gold. That marks a rise of almost 50 per cent since late September before geopolitical tensions flared up in…

Millions of salaried workers will soon qualify for overtime pay under a final rule released by the US Department of Labor on Tuesday. The new rule raises the salary threshold under which salaried employees are eligible for overtime in two stages. The threshold will increase to the equivalent of an annual salary of $43,888, or $844 a week, starting July 1, and then to $58,656, or $1,128 a week, on January 1, 2025. About 4 million more workers will qualify for overtime when the rule is fully implemented in January, the agency estimates. In its first year, the rule is…

In a recent transaction, Kathy L. Hibbs, the Chief Administrative Officer of 23andMe Holding Co. (NASDAQ:ME), sold shares of the company’s stock, according to a new SEC filing. The transaction involved the sale of 38,548 shares at a weighted average price of $0.4642, totaling approximately $17,893. This sale was executed automatically under a Rule 10b5-1 trading plan previously adopted on March 9, 2023.On the same day, Hibbs also acquired 38,548 shares through stock option exercises at a price of $0.42 per share, amounting to a total of $16,190. The exercise of these options was part of an arrangement where the…

Investing.com– Most Asian currencies moved little on Tuesday, while the dollar steadied as markets awaited key U.S. inflation data for more cues on when the Federal Reserve could begin cutting interest rates. The was the worst performer among its regional peers, retreating sharply from an over one-month high after comments from top Bank of Japan officials somewhat cooled bets on an immediate rate hike from the central bank.Yen sinks as BOJ’s Ueda tempers optimism over economyThe yen weakened about 0.3% against the dollar, retreating from an over one-month high hit on Monday.A reversal in the currency came largely after BOJ Governor…

The migration from high-tax states to lower-tax states that accelerated during the pandemic continues today. To fight the tax loss from the population shift, a number of high-tax states aggressively seek to identify people who moved out of their borders and continue imposing income and estate taxes on them. The states generally impose income, estate, and sales taxes based on your residence or domicile, and your status under the law isn’t as simple as many people expect. That’s why aggressive high-tax states claim that people who think they’ve moved to another state haven’t changed their residence or domicile for tax…

The unemployment rate decreased marginally in March to 3.8%, the Bureau of Labor Statistics noted in its Employment Situation Report. Last month, the unemployment rate sat at 3.9%. The rate dropped, in part, due to the additional 303,000 jobs added in March. The unemployment rate hasn’t shifted much over the last few months. It’s been ebbing and flowing between 3.7% and 3.9% since August 2023.Currently, there are 6.4 million unemployed people in the U.S. The number of long-term unemployed people — those who have been jobless for at least 27 weeks — reached 1.2 million this month, barely changing since…

Many borrowers currently struggling with student loan payments would benefit from enrolling in an income-driven repayment plan, according to a recent Student Debt Crisis Center (SDCC) survey. Roughly three out of four borrowers who make $75,000 or less annually and would benefit from the SAVE plan are not currently enrolled in the plan, the survey said. Moreover, 38% of these borrowers are at risk of defaulting on their student loan payments six months from now and could be missing an opportunity to find debt relief in existing programs. President Joe Biden’s Saving on Valuable Education (SAVE) plan could lower borrowers’ monthly payments…

A growing number of consumers who use buy now, pay later (BNPL) services and are attracted to their ease of access, but they are at risk of becoming overextended, according to a recent survey.  Over a third (34%) of respondents said they liked BNPL services because they allowed them to pay for purchases over time without paying interest, while 22% liked the option because it was easier to access than credit cards, according to the Achieve survey. Additionally, 76% said BNPL helped them improve their overall financial situation.BNPL providers partner with retailers to allow shoppers to split the cost of their…