Author: Press Room

Twitter’s former head of ad sales, Robin Wheeler, took a dig at Elon Musk over his “Titter” sign. Wheeler was a top lieutenant under Musk when he first bought the social media company. The Chief Twit said on Sunday that he’d painted over the “w” on Twitter’s sign at its headquarters. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Twitter’s former head of ad sales, Robin Wheeler, slammed Elon Musk on Twitter after the billionaire changed the company headquarter’s sign to say “Titter.””Who hurt…

Apple and Goldman Sachs are seeking to lure US depositors to a new savings account by offering to pay interest at more than 10 times the national average rate. The California tech giant and Wall Street bank on Monday launched a new savings account yielding 4.15 per cent a year, having first announced the product in October. This is well ahead of the average US savings account rate of 0.37 per cent, according to data from the Federal Deposit Insurance Corporation. It also outstrips competitors such as American Express which is offering 3.75 per cent and Goldman’s standalone savings account…

Sen. John Fetterman has returned to the Senate after receiving treatment for clinical depression at Walter Reed National Military Medical Center. The Pennsylvania Democrat began inpatient treatment in February and was discharged at the end of March. “It’s great to be back,” he told reporters as he arrived at the Capitol Monday afternoon. He did not answer questions. “I want everyone to know that depression is treatable, and treatment works,” Fetterman said in a statement after his release. “This isn’t about politics — right now there are people who are suffering with depression in red counties and blue counties. If…

It will be a busy week of first-quarter earnings reports and with several of the latest indicators on the U.S. economy and housing market on deck. Abbott Laboratories, ASML Holding, IBM, Las Vegas Sands, Morgan Stanley, and Tesla will report on Wednesday. American Express, AT&T, Taiwan Semiconductor Manufacturing, and Union Pacific release results on Thursday, then Freeport-McMoRan, Procter & Gamble, and Schlumberger close the week on Friday. Economic-data highlights will include the Conference Board’s Leading Economic Index for March on Thursday and both of S&P Global’s Manufacturing and Services Purchasing Managers’ Indexes for April on Friday. There will also be…

Former IMF chief economist Olivier Blanchard, one of the first economists to warn about high inflation in the waning days of the pandemic, now says inflation can come down on its own because the shocks that kept inflation percolation in the 1970s seem absent today. During the 1970s when inflation went higher, it set of a chain of events that led to ever-higher prices. Perhaps the clearest example is that many unions won concessions from management to have inflation factored into their annual pay gains. While this was good for the workers, it laid the groundwork for businesses to charge…

© Reuters. FILE PHOTO: Signage is seen at the JPMorgan Chase & Co. New York Head Quarters in Manhattan, New York City, U.S., June 30, 2022. REUTERS/Andrew Kelly By Niket Nishant and Nupur Anand (Reuters) -JPMorgan Chase & Co beat Wall Street’s estimates for quarterly profit and raised its outlook for interest income on Friday, emerging as one of the biggest winners of a flight to safety during last month’s banking crisis. The largest U.S. lender gained $50 billion in deposits at the end of March, even as the rest of the industry saw a 3% decline in the first…

LA PAZ (Reuters) – Bolivia’s government has called on the armed forces to tighten border controls to curb the smuggling of state-subsidized fuels, a move it believes will save state coffers some $250 million per year. Keeping fuel prices steady, currently 3.74 bolivianos ($0.5452) per liter for gasoline and 3.72 bolivianos per liter for diesel, cost Bolivia $1.7 billion last year alone, according to data from state oil firm YPFB. The proliferation of subsidized fuel on the black market and its use in illegal mining and drug trafficking, “is bleeding Bolivia’s economy,” the nation’s hydrocarbons minister Franklin Molina said at…

(Reuters) – The governing council of the Bank of Canada discussed raising interest rates at its policy meeting earlier this week before deciding to leave them on hold, the central bank’s governor, Tiff Macklem, said on Friday. Asked whether any council members were in favor of hiking rates at the meeting, Macklem said: “When I say that we’ve discussed whether we’ve done enough, that does imply that one of the things we discussed is whether we need to raise rates.” Macklem spoke to reporters from Washington where he was attending the annual International Monetary Fund meetings. On Wednesday, the Canadian…

OBSERVATIONS FROM THE FINTECH SNARK TANK Should TikTok be banned in the US because it’s a national security risk? Or should it be banned as retribution for Chinese actions against US businesses? That’s for someone else to decide. If TikTok is banned—for whatever reason—it will leave many Gen Zers wondering, “Now where do we go for financial advice?” Gen Zers and Millennials Get Financial Advice on TikTok How many young consumers turn to “finfluencers” on TikTok for financial advice? The answer depends on what survey you’re looking at. A Vericast survey revealed that 34% of Gen Zers obtain financial advice…

What do Mike Trout and Microsoft MSFT have in common? Both are members of a 30-30 Club. In baseball, this club contains those stars who have smashed 30 home runs and stolen 30 bases in the same season. I have a 30-30 club for corporations. To makes it, a company must have a 30% return on stockholders’ equity (high profitability) and a 30% average earnings growth rate over the past five years. It must also have a market value of $2 billion or more. This year only 38 corporations made my 30-30 club, down from 47 a year ago. All…