In the past few weeks, a number of high-profile US tech companies have announced layoffs. Meta is laying off 11,000 workers and Amazon 10,000. The ongoing purge at Twitter could see its employee base of 7,500 shrink by about 75%. About 42,000 workers in US tech companies lost their jobs in November alone, according to … Read more
Nobody is quite sure who wrote it, when it was written or if it’s even true. But a screenshot of four paragraphs detailing a China reopening plan was enough for traders to scoop up stocks for two days running. The unverified post, which contained black characters on a white background with no identifying marks, first … Read more
Jurrien Timmer, the director of global macro in Fidelity‘s Global Asset Allocation Division, has raised questions on why the U.S. Federal Reserve is committing to an extreme policy when inflation will no longer pose danger. What Happened: Timmer pointed out that the Treasury Inflation-Protected Security market and the Federal Reserve’s expected terminal rate were moving in the same … Read more
The pressure on asset quality of loans to micro small and medium enterprises (MSMEs) is set to increase, leading to a rise in non-performing assets (NPAs) in this segment in the next six months, according to a survey by the Federation of Indian Chambers of Commerce & Industry and the Indian Banks’ Association. Some of … Read more
Britain’s rate of inflation has surged to a new 40-year high as the Consumer Prices Index (CPI) rose to 10.1 per cent on Wednesday, with increasing food costs the biggest driver of the latest hike. According to the Office for National Statistics (ONS), annual inflation for essential food items is now running at 12.7 per … Read more
The U.S. Senate narrowly passed President Joe Biden’s Inflation Reduction Act on Sunday, aiming to cut government deficits and consumer medical bills while boosting climate-change spending, increasing corporate income taxes and creating a new 1% levy on stock buybacks. The measure passed on a party-line 51-50 vote, with all Democrats and Democratic-leaning independents in the … Read more
Key reasons for this dilemma and my take on them. Checkout if it makes sense to you.
Leading food company Britannia Industries on Monday said it has judiciously increased prices in the January-March quarter on account of cost inflation and would further take such calibrated price hikes to retain its profitability. The Wadia group firm has “continued to take price increases judiciously and remained aggressive on the cost front,” said Britannia … Read more
Warren Buffett and Charlie Munger spoke during Berkshire Hathaway’s annual meeting on Saturday. The billionaire investors flagged widespread “gambling” on stocks, and slammed bitcoin as worthless. Buffett and Munger also discussed inflation, Robinhood, the pandemic, and the risks of speaking up. Something is loading. Warren Buffett and Charlie Munger called out the feverish speculation in … Read more