Category: Business

Meta Shares Soar as Zuckerberg Declares ‘Year of Efficiency’

(Bloomberg) — Meta Platforms Inc.’s shares soared 19% in early trading after Chief Executive Officer Mark Zuckerberg announced plans to make the social media giant leaner, more efficient and more decisive. Most Read from Bloomberg If the gains hold, Meta will record the biggest intraday jump since at least April and more than double its …

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Bitcoin bulls must reclaim these 2 levels as ‘death cross’ still looms

Bitcoin (BTC) faces a sink-or-swim resistance test to confirm its “macro breakout,” a new analysis says. In a tweet on Feb. 2, on-chain monitoring resource Material Indicators flagged key levels to flip to support after BTC/USD spiked above $24,000. Bitcoin price gears up for trend line showdown In what was ultimately a boon for Bitcoin …

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Ark’s Cathie Wood Says Bitcoin Is Going To $1M, Jim Cramer Says Yeah, And I ‘Walked On Water’ In The Sea Of Galilee

Ark Invest founder and CEO Cathy Wood is doubling down on her prediction that Bitcoin BTC/USD will reach $500,000 and Jim Cramer can’t help but laugh. Wood Sees Exponential Rise: In Ark Invest’s Big Ideas release for 2023, Wood noted that “the price of one bitcoin could exceed $1 million in the next decade.” She …

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The Federal Reserve raises interest rates 0.25 percentage points

The Federal Reserve is raising its benchmark interest rate a quarter of a percentage point, officials with the central bank said on Wednesday, its eighth consecutive hike as policy makers try to subdue inflation. The latest increase in the federal funds rate — what banks charge each other for short-term loans — is smaller than …

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Bitcoin spikes above $24K as Fed chair Powell talks of ‘disinflation’

The price of Bitcoin (BTC) broke through the $24,000 ceiling and the total crypto market cap jumped nearly 4% after United States Federal Reserve Chair Jerome Powell indicated that inflation had begun slowing down in the world’s largest economy. “We can now say, I think for the first time, that the disinflationary process has started …

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Honda to start producing new hydrogen fuel cell system co-developed with GM

TOKYO, Feb 2 (Reuters) – Japan’s Honda Motor Co ( 7267.T ) said it will start producing a new hydrogen fuel cell system jointly developed with General Motors Co ( GM.N ) this year and gradually step up sales this decade, in a bid to expand its hydrogen business. Honda will target annual sales of …

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Analysts name 4 alternatives to Alibaba in China’s tech sector

China’s stocks bounced back in recent months on the back of the country’s reopening — and that’s gotten investors excited about tech. No Chinese tech stock has generated as much excitement as Alibaba, one of the most recognizable names in the Chinese internet sector. The stock is a hot favorite among Wall Street analysts, with …

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Payments firm PayPal to lay off 7% of its workforce to cut costs

Alexandria Real Estate founder Joel Marcus provides insight into the commercial real estate market. PayPal Holdings Inc said on Tuesday it is planning to cut 7% of its workforce, or about 2,000 employees, the latest in a list of fintech firms to be hit by the economic slowdown. The payments firm also joins Big Tech …

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Inflation still outstripping wages in most US cities

MoffettNathanson senior managing director provides insight on the state of the economy on “Making Money.” Wages and benefits for workers in most major US cities grew at a slower pace in the final three months of 2022, with inflation still outstripping pay for many workers. The employment cost index – a quarterly measurement of labor …

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States Americans are moving to — and the states they are ditching

The pandemic sparked a restlessness in American life, with many families opting to move in search of more space or a lower cost of living. That trend continued in 2022, with hundreds of thousands of people uprooting their lives and moving to new states. But some regions are benefitting from an influx of new residents …

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