Microsoft Is Joining The Tech Firing Spree
Microsoft Corp. announced it was cutting 10,000 jobs, making it the latest tech giant to do so amid worries about the state of the world economy.
Go Deeper (2 min read)Bed Bath & Beyond, A Distressed Retailer
Founded in 1971, Bed Bath & Beyond is an omni-channel retailer of domestic merchandising and home furnishing through a network of physical stores and various websites.
Go Deeper (4 min read)Hedge Funds, What To Expect For 2023?
Due to the sharp interest rate increases that have caused substantial losses for mainstream investors and equity experts, hedge funds that trade bonds and currencies are on course to enjoy their greatest year since the global financial crisis.
Go Deeper (3 min read)ChatGPT, The New Web3?
OpenAI, the research facility behind the popular ChatGPT chatbot, is in discussions to sell its current stock in a tender offer that would value the company at around $29 billion?
Go Deeper (3 min read)2023, Time For A Recession?
Even though this recession may be one of the most expected in history, it could still be painful.
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China's Factory Activity Slows Down
According to the National Bureau of Statistics, October saw a decline in factory activity in China as a result of recurrent Covid outbreaks. According to the report, the official purchasing managers' index for manufacturing decreased from 50.1 in September to 49.2 last month.
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Apple Is Moving Out Of China
Apple is speeding up plans to move a portion of its production outside of China, which has long had a dominant position in the supply chain that helped create the most valuable corporation in the world.
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Inflation Is Easing
The consumer price index, which tracks how much people pay for goods and services, increased 7.1% in November from a year earlier, according to the Labor Department on Tuesday. This is a considerable decrease from the 7.7% rise seen in October.
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Preparing For A Recession
David Solomon, the chief executive of Goldman Sachs Group, said that the company would have to cut back on spending and hiring as it cope with a slowing economy.
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In November, Chinese exports decreased at their fastest rate in more than two years. It is the largest drop in outbound shipments from China since February 2020, when a statewide lockdown brought about a halt to economic activity led to a 8.7% drop year over year.
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The Charles Schwab Corporation
Located in the United States, The Charles Schwab Corporation is a global provider of financial services. Both retail and institutional clients can take advantage of its banking, commercial banking, investment, consultancy and wealth management advisory services.
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