When Amazon announced it was laying off another 9,000 employees today, AWS employees were not exempt with Amazon CEO (and former AWS CEO) Andy Jassy announcing the cloud division would be included into today’s round. TechCrunch is hearing that around 10% of today’s total came from AWS. The company would not confirm those numbers, instead … Read more
As promised, President Joe Biden vetoed an attempt by House and Senate Republicans to strike down the Department of Labor’s (DOL’s) ESG rule Monday. “I just signed this veto because the legislation passed by the Congress would put at risk the retirement savings of individuals across the country,” Biden said in a video posted on … Read more
Listening to Janet Yellen, you might be led to believe that the US banking system is, in her words, “sound,” and that your deposits “remain safe.” She’s the Treasury secretary, after all. She must have some clue, right? Nope. Top financial CEOs tell me she’s mostly MIA as our banking system shows serious signs of … Read more
Costco Shares Interesting Membership News
(Bloomberg) — Bank failures, market turmoil and ongoing economic uncertainty as central banks battle high inflation have increased the chances of a “Minsky moment,” according to JPMorgan Chase & Co.’s Marko Kolanovic. Most Read from Bloomberg The term, named for the late American economist Hyman Minsky, refers to the end of an economic boom that … Read more
First Republic Bank (FRC) was easily the S&P 500’s biggest loser on the stock market today. Microsoft (MSFT), Paycom Software (PAYC), Intel (INTC) and Illumina (ILMN) fell modestly, but rounded out Monday’s five biggest S&P 500 decliners. X The S&P 500 index rose 0.9% on Monday, back above its 200-day moving average. FRC Stock Crashes … Read more
(Bloomberg) — The speed with which four banks collapsed — and one continues to struggle — has left investors reeling. While the failures came in the span of just 11 days, the scenarios that brought them down were each unique. Most Read from Bloomberg Here’s how the companies’ turmoil played out, and how regulators responded, … Read more
Stock in electric truck start-up Rivian Automotive is trading terribly, off more than 80% from its IPO price of $78 a share and more than 90% from all time highs. Shares also trade far worse than stock of other EV start-ups. It might be time for Rivian (ticker: RIVN) management to do something about that—like … Read more
Warren Buffett Offers Safety During New Bank Scare
