№289 · BUSINESS & FINANCE
August 2023 Sees Unemployment Spike But Economic Indicators Remain Mixed
The U.S. job market experienced a setback in August 2023 as unemployment figures spiked.
Sara Montes de Oca · 1061 DAYS AGO
Markets, earnings, deals, and the macro shifts that move them. Reported for readers who already know the basics.
The U.S. job market experienced a setback in August 2023 as unemployment figures spiked.
Sara Montes de Oca · 1061 DAYS AGO
In a groundbreaking move, the Morongo Casino Resort and Spa in Cabazon, CA, has unveiled a state-of-the-art mobile app for its casino....
TechEchelon Staff · 1063 DAYS AGO
Earlier, Arm, the chip designer under the SoftBank umbrella of Japan, announced its intention to list on the Nasdaq. It comes seven years after its $32 billion acquisition and privatization.
Jay Goldberg · 1064 DAYS AGO
Even though Powell recognized advancements in addressing inflation, he emphasized that it's still higher than the desired threshold. He signaled that the Federal Reserve won't rush into any decisions, but he didn't indicate a willingness to relax their stance in the immediate future.
Sara Montes de Oca · 1068 DAYS AGO
The company's top executive, Mike Sievert, clarified in the email, which was also documented in a filing with the Securities and Exchange Commission, that the reductions would mostly affect corporate, tech, and back-office positions. He emphasized that roles in retail and customer interactions would remain untouched.
TechEchelon Staff · 1068 DAYS AGO
For the fiscal year ending March 2023, the company reported revenues of $2.68 billion and a net income of $524 million. This marks a slight decrease from its 2022 revenues of $2.7 billion.
Jay Goldberg · 1071 DAYS AGO
Among the 584 items to be auctioned are iconic blue bird logo signs, office furniture, and an array of musical instruments.
TechEchelon Staff · 1083 DAYS AGO
Despite predictions that the unemployment rate would remain at 3.6%, it dipped to 3.5%, which is marginally higher than the lowest level since late 1969.
TechEchelon Staff · 1089 DAYS AGO
The "initial phase of operations" in Austin is scheduled to commence this fall with a full deployment of autonomous vehicles. However, Waymo plans to delay providing services to the general public until a few months after this initial rollout.
Sara Montes de Oca · 1090 DAYS AGO
The credit rating of the U.S. has been reduced to AA+ from AAA by Fitch Ratings, prompted by the growing U.S. debt and a perceived weakening of governance. Furthermore, Fitch anticipates the U.S. may face a recession later this year.
Sara Montes de Oca · 1091 DAYS AGO
Wu, who played a significant role in Xpeng's autonomous driving efforts, has decided to leave the company for personal and familial reasons, as stated by Xpeng. In his stead, Liyun Li, the senior director of Xpeng's autonomous driving team, will assume his role.
TechEchelon Staff · 1091 DAYS AGO
The Commerce Department reported that the personal consumption expenditures (PCE) price index, excluding food and energy, saw a modest rise of 0.2% compared to the previous month, which matched the Dow Jones projection.
Jay Goldberg · 1096 DAYS AGO
This move elevates the overnight federal funds rate to a band of 5.25%-5.5%, as part of the Fed's ongoing initiative to combat skyrocketing prices, despite recent signs of receding inflation.
Sara Montes de Oca · 1098 DAYS AGO
On Tuesday, the tech giant reported adjusted earnings per share at $1.44, surpassing the anticipated $1.34 according to a Refinitiv analyst survey. Additionally, the company posted revenue of $74.6 billion for the second quarter, outperforming the estimated consensus of $72.82 billion.
TechEchelon Staff · 1098 DAYS AGO
Musk envisions X to be similar to China's WeChat, a versatile app that people use for entertainment, e-commerce, social media, and messaging.
Jay Goldberg · 1099 DAYS AGO
In its current iteration as Grapevine Technologies, the company is already valued at $10 million.
Sara Montes de Oca · 1104 DAYS AGO
The software's robust features allow companies to invite employees, customers, or suppliers to collaborate and address their most challenging problems. It provides a platform to collect targeted ideas through submission forms that can be embedded directly into a company's intranet or website.
Jay Goldberg · 1104 DAYS AGO
Musk hinted at potential production hiccups in the third quarter, noting "we've got summer shutdowns" for several "factory upgrades." However, he affirmed the company's goal to hit 1.8 million vehicle deliveries for the year.
TechEchelon Staff · 1104 DAYS AGO
Written for readers who already know the basics — markets, AI, and the policy decisions that shape both.