AWS takes a hit in latest round of Amazon layoffs

AWS takes a hit in latest round of Amazon layoffs

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

What Biden’s ESG Bill Veto Means For Your Retirement

What Biden's ESG Bill Veto Means For Your Retirement

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

JPMorgan’s Kolanovic Sees Increasing Chances of ‘Minsky Moment’

JPMorgan’s Kolanovic Sees Increasing Chances of ‘Minsky Moment’

(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

S&P 500: Crashing Bank Stock, Dow Giant Lead Losers

S&P 500: Crashing Bank Stock, Dow Giant Lead Losers

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