Author: Press Room
How do you make money off people caught in a mental-health emergency?Loris, a startup that helps companies improve their customer-service conversations, found a way. Founded in 2018, Loris used data generated from text conversations with people in distress to make “empathetic” customer-service software. The source for the data? Crisis Text Line, a nonprofit suicide-prevention hotline and the parent company of Loris.Crisis Text Line, now in its 10th year of operations, uses artificial intelligence to respond to people experiencing emotional abuse, self-harm, and suicidal thoughts. A Politico investigation last year explained how the help line created Loris to develop and sell…
EU countries are pushing back against an influx of syrup-laced honey from China and other exporters that is flooding the bloc’s €2.3bn market and driving down prices.The drive by 20 member states, led by Slovenia, to tighten regulation against what one official dubbed “honey laundering” follows a European Commission study that found a surge in fraud. Almost half of the honeys surveyed broke EU rules, with ingredients such as sugar syrups, colourings and water, according to findings published last month.“It’s basically sugar water,” said one EU official.Because imported products are sold at a lower price than the European product, beekeepers…
The death penalty was abolished in Washington state Thursday after Democratic Gov. Jay Inslee signed a bill into law eliminating the state-sanctioned punishment. Besides the death penalty, Senate Bill 5087 also eliminated other laws, including a measure that allowed sterilization as criminal punishment. The Democratic-controlled legislature passed the bill earlier this month. “I initiated a moratorium against the death penalty in Washington State in 2014, and our rationale for that decision was affirmed by our (state) Supreme Court decision in 2018, when they invalidated the death penalty statute,” Inslee said during the bill signing Thursday. “They made clear, and we…
U.S. stocks drifted lower Friday afternoon, pointing toward a quiet end to the first full week of the quarterly earnings reporting season, as investors watch for signs of an economic slowdown.How stocks are trading All three of the main U.S. stock indexes are on track for modest weekly losses. What’s driving markets U.S…. Read the full article here
Back in January, Jeffrey Bierman surveyed the U.S. stock market landscape and called it a “slow-motion bear market,” forcing investors to face the fact that “the Fed-fueled fantasy bubble has popped.” U.S. stocks have since rebounded, but Bierman, a professional stock trader with more than three decades of experience, is convinced that stocks aren’t out of the woods yet. Bierman… Read the full article here
The numbers: The number of Americans who applied for unemployment benefits last week rose by 5,000 to 245,000, pointing to a small erosion in the robust U.S. labor market. New jobless claims increased from a revised 240,000 in the prior week, the Labor Department said Thursday. The figures are seasonally adjusted. The number of people applying… Read the full article here
© Reuters. Lam Research earnings beat by $0.47, revenue topped estimates Investing.com – Lam Research (NASDAQ: LRCX) reported third quarter EPS of $6.99, $0.47 better than the analyst estimate of $6.52. Revenue for the quarter came in at $3.87B versus the consensus estimate of $3.81B. Guidance Lam Research sees Q4 2023 EPS of $4.25-$5.75 versus the analyst consensus of $5.63. Lam Research sees Q4 2023 revenue of $2.80B-$3.40B versus the analyst consensus of $3.47B. Lam Research’s stock price closed at $491.02. It is up 3.92% in the last 3 months and up 1.99% in the last 12 months. Lam Research…
WASHINGTON (Reuters) – U.S. Vice President Kamala Harris planned to visit Miami on Friday, a White House official said, as she announces a $562 million investment in helping communities become more resilient to climate change. The trip coincides with U.S. President Joe Biden’s signing of an executive order that the White House said will direct federal agencies to put more focus on environmental polices that do harm to communities. Harris’ trip comes as South Florida struggles with gas shortages after flooding last week disrupted deliveries and prompted some panic buying at the pump. The climate investment aims to help 149…
By Andy Bruce LONDON (Reuters) – Britain’s unwanted status as the only large advanced economy still to have double-digit inflation represents just one symptom of the serious economic malaise faced by the country. Annual consumer price inflation (CPI) in Britain fell to 10.1% last month but defied forecasts for a bigger drop from February’s 10.4%, according to data published on Wednesday. The figures underscored the risk that Britain suffers high inflation for longer than other similar economies due to its reliance on for heating and electricity and the structure of state subsidies to smooth out price changes. The Bank of…
Pity the poor wizards of Wall Street who for nearly two years now have been predicting, warning, or otherwise agonizing over the prospects of the pandemic pushing the US economy into a recession. Full disclosure: I am not an economist. However, my career has been devoted to studying consumers and retailing and working to improve humans ability to forecast outcomes more accurately. Reading the business headlines hasn’t been helpful. For example, a search for “consumer sentiment recession” returns headlines like these: “Consumers Increasingly Expect Recession.” “Consumer Confidence up Slightly as Recession Looms.” “Retail spending fell in March as consumers pull…
