Topline Economists at Goldman Sachs hiked their inflation projections this weekend and warned clients that recent strong price spikes seem similar to those that preceded record inflation decades ago, joining other experts in forecasting inflation will last longer than previously expected. Key Facts In a note to clients Sunday night, Goldman economists said they expect…
Posts published by “Jonathan Ponciano”
Topline Singapore-based Vauld on Monday became the latest cryptocurrency platform to pause customer withdrawals as a result of the nascent market's steep decline over the past month, telling customers it will also explore restructuring options as analysts warn the market downtrend will likely continue until broader recession fears subside. Key Facts In a blog post…
Topline Shares of Amazon collapsed Friday after the ecommerce monolith reported worse-than-expected earnings spurred by high inflation and lingering supply chain constraints, pushing the stock down more than 30% below its record high and extending a slate of massive losses among formerly high-flying technology firms. Key Facts Amazon stock tumbled as much as 12.5% Friday…
Topline Tesla shares collapsed Tuesday as investors continued to digest the implications of Twitter’s acceptance of CEO Elon Musk’s $44 billion bid for the social media giant, tacking onto already-staggering losses spurred by the Federal Reserve's looming interest rate hikes. Key Facts Tesla shares fell 12% Tuesday to $876, pushing the stock down more than…
Topline Tesla shares collapsed Tuesday as investors continued to digest the implications of Twitter’s acceptance of CEO Elon Musk’s $44 billion bid for the social media giant, tacking onto already-staggering losses spurred by the Federal Reserve's looming interest rate hikes. Key Facts Tesla shares fell as much as 11% Tuesday to $890, pushing the stock…
Topline Tesla billionaire Elon Musk railed against regulators Monday morning after a court filing unearthed dozens of text messages between him and a Saudi investor discussing a deal to take the electric-carmaker private—fanning the flames of a four-year-old spat that forced Musk to step down as Tesla chairman and pay $40 million in penalties for…
Updated Nov 5, 2021, 11:05am EDT Topline The U.S. added back a better-than-expected 531,000 jobs in October—marking the long-struggling labor market's best monthly showing since July in a sign that the recent pandemic-sparked lull in employment could finally be on the mend. Key Facts October’s new job gains were greater than the 450,000 new jobs…
Topline House Speaker Nancy Pelosi (D-Calif.) on Wednesday announced Democratic leaders will introduce an amendment to include four weeks of paid family and medical leave in a newly proposed social spending bill, doubling down on a key policy item that failed to make into a downsized package given opposition to heightened spending from two Democratic…
Updated Sep 17, 2021, 02:45pm EDT Topline The United States could cut off billions of dollars in funding to crucial government programs and ultimately face a recession if Congress doesn't raise or suspend the debt limit by next month, the White House warned state and local officials on Friday, lending urgency to an issue that's…
Topline Former Google CEO Eric Schmidt on Sunday urged lawmakers to ramp up funding for research and development in the artificial intelligence space in order to prevent China from becoming the biggest player in the global AI market–a development Schmidt warned would spark national security and privacy concerns that could ultimately constitute a national emergency.…