Author: Press Room
Amazon employees have lost more than 30% on stock awards they got last year. Internal guidelines instruct managers how to handle tricky compensation questions from employees. Even CEO Andy Jassy saw his 2022 realized compensation drop 25% because of the stock price decline. Amazon wants its managers to stress the “long-term” value of stock and “ownership” of work during annual employee compensation reviews that started earlier this month. Managers should not disclose individual performance ratings or other people’s pay with employees either.Those are among the many talking points shared in internal guidelines that list potential questions and answers for Amazon…
European stocks slipped on Wednesday ahead of the latest eurozone inflation figures and a fresh batch of US corporate earnings, with investors on the lookout for signs of slowing growth and the impact of higher interest rates. The region-wide Stoxx 600 fell 0.2 per cent, though Germany’s Dax rose 0.4 per cent and France’s CAC 40 was steady.Figures due out later in the day are expected to show consumer prices in the euro area up 6.9 per cent in the year to March, in line with price increases in February. Core inflation, which excludes energy and food costs to give…
President Joe Biden and first lady Jill Biden earned $579,514 in 2022, slightly lower than their previous year’s earnings, according to new tax returns released Tuesday by the White House. The release comes on the deadline for Americans to file their taxes with the Internal Revenue Service. The White House also released tax returns showing Vice President Kamala Harris and second gentleman Doug Emhoff made $456,918 last year, a significant decline in their income from 2021, when they sold a residence. The president and first lady paid $169,820 in combined federal, Delaware, and Virginia income taxes last year. Of that,…
Elon Musk has laid out his plans for an artificial-intelligence company, seeking to rival Microsoft and Google-parent Alphabet. Shareholders of Tesla might not like his direction of thinking. “I’m going to start something which I call ‘Truth GPT’ or a maximum truth-seeking AI that tries to understand the nature of the universe,” Mr. Musk said in an interview on Fox News Channel’s Tucker Carlson Tonight late on Monday. Musk was recently reported to be starting his own AI-focused company by the Financial Times. The billionaire was named as a director in a business-incorporation document filed in March for a new…
ServisFirst Bancshares Inc. SFBS, -3.12%, a bank based in Birmingham, Ala., that operates in the southeast U.S., reported a year-over-year drop in deposits for its first quarter but a sharp increase in new accounts. Total deposits fell 6% year over year, while non-interest demand deposits, a smaller part of the bank’s overall deposits, fell 41%. However, new accounts opened jumped 23%, a figure executives attributed to “our financial stability, our commitment to customer service, and our team of responsive bankers.” The bank said it reported net income of $57.9 million, or $1.06 a share, compared with $57.6 million, or $1.06…
The numbers: Construction of new homes fell 0.8% in March to a rate of 1.42 million due to slower work on apartment buildings, leaving prospective buyers with limited options. Economists polled by the Wall Street Journal had forecast a 1.4 million rate of new housing starts. That’s the number of homes that would be built over an entire year if construction took place at the same rate in every month as it did in March. Offsetting the decline in apartment projects, construction of single-family homes rose 2.7%. The small rebound in new construction this year is supported by strong demand…
China’s economic recovery has given off mixed signals and confounded investors since authorities scrapped so-called zero-COVID measures in December. But one thing was crystal clear in Tuesday’s official data: Domestic consumption is roaring.Explosive growth in the retail sector last month helped drive expansion in the country’s overall economy, according to data released by the National Bureau of Statistics. Retail sales — a gauge of domestic consumption — jumped 10.6% in March as compared with the same period last year. This was the biggest gain in 20 months and well above economists’ consensus projection. “It is much better than expected,” said…
© Reuters. Nissan seeks tech growth independent of Renault By Michael Elkins An exclusive story by Reuters on Friday reports, citing seven people with knowledge of the matter, that Nissan (OTC:) is developing growth plans in areas such as software and electric vehicles (EVs) independent of Renault SA (OTC:) (EPA:) as the automakers work to finalize terms of the limited alliance. According to the report, Nissan is seeking a partner outside the auto industry to develop software that connects vehicles to cloud-based services, two people involved in discussions said, without elaborating on candidates. That would address a relative weakness for…
By Ambar Warrick Investing.com — Oil prices moved little in Asian trade on Wednesday as anticipation of a slew of indicators on U.S. monetary policy and the economy kept sentiment tepid, although signs of shrinking U.S. inventories pointed to tighter supplies. Data from the showed that U.S. crude inventories shrank by a slightly bigger-than-expected 2.68 million barrels in the week to April 14. The figure heralds a similar trend in due later in the day, and signals tightening supplies as fuel demand picks up due to improving weather. Oil markets were also cheered by stronger-than-expected , which furthered the notion…
By Ambar Warrick Investing.com — Most Asian currencies retreated on Wednesday, while the dollar firmed slightly as uncertainty over rising U.S. interest rates battered risk-heavy assets, with focus now turning to a slew of economic indicators due this week. The fell 0.2%, coming under renewed pressure from the dollar this week as new Bank of Japan Governor Kazuo Ueda reiterated that the central bank will maintain its ultra-loose monetary policy. Worsening local economic conditions also weighed on the yen, with focus turning to key due on Friday. Optimism over a Chinese economic recovery offered little support to regional currencies, as…
