People walk past a billboard advertisement for YouTube on September 27, 2019 in Berlin, Germany. Sean Gallup | Getty Images The Department of Justice warned the Supreme Court against an overly-broad interpretation of a law shielding social media companies from liability for what users post on their platforms, a position …
Read More »Monthly Archives: December 2022
credit card debt, ruined retirement plans
Teresa Harding Source: Teresa Harding It took three months for Teresa Harding to open her termination letter. “I couldn’t look at it,” Harding, 47, said. For seven years, she’d worked at a pain management center in Lexington, Kentucky. “I enjoyed my co-workers and our patients. “It was a fun, exciting …
Read More »Blackstone chief defends real estate fund amid rush for withdrawals
Investors nervous about Blackstone’s real estate investment trust should view it as a long-term vehicle that’s well-positioned for the future, the firm’s president said Thursday. Blackstone has taken heat over the past week for limiting withdrawals from the $69 billion private REIT, the Blackstone Real Estate Income Trust (BREIT). That …
Read More »FTX spokesman Kevin O’Leary says he lost $15 million crypto payday
Investor, “Shark Tank” judge and CNBC contributor Kevin O’Leary said Thursday he’s lost all of the $15 million FTX paid him to act as a paid spokesman for the now collapsed crypto exchange that some have called fraudulent. O’Leary and other celebrities, such as Tom Brady and Larry David, were …
Read More »Latinas lose $1.2 million over their careers due to the pay gap
This year, Latina Equal Pay Day falls on Dec. 8, marking the symbolic date to which Latinas have to work — almost two years — to catch up to what their white male co-workers earned in 2021 alone. The pay disparity is grim. In 2021, Latinas working full time were …
Read More »401(k) hardship withdrawals hit all-time high, Vanguard says
Thomas Barwick | Stone | Getty Images The share of retirement savers who withdrew money from a 401(k) plan to cover a financial hardship hit a record high in October, according to data from Vanguard Group. That dynamic — when coupled with other factors like fast-rising credit card balances and …
Read More »Ciena, GameStop, Rent The Runway and others
Check out the companies making headlines before the bell: Ciena (CIEN) – The networking equipment maker’s stock surged 19.1% after a substantial top and bottom line beat in its latest quarter. Ciena earned an adjusted 61 cents per share for its latest quarter, compared with a consensus estimate of 8 …
Read More »Amid inflation and market volatility, just 12% of adults feel wealthy
Inflation, geopolitical uncertainty and fears of a recession have undermined financial confidence across the board, according to a new report by Edelman Financial Engines. Less than one-quarter, or 23%, of more than 2,000 adults polled earlier this fall said they felt “very comfortable” about their finances. Fewer — just 12% …
Read More »Retail investors say stock market will bottom in 2023: Finimize survey
A graph displaying the Apple stock price on a smartphone app. Jaap Arriens | Nurphoto | Getty Images LONDON — Retail investors haven’t been frightened away by the comedown in stocks this year. In 2023, most individual investors plan to invest the same amount or more despite the cost-of-living crisis, …
Read More »Tech layoffs in Southeast Asia grow as unprofitable startups extend runways
Shopee reportedly conducted three rounds of layoffs this year as its parent Sea Limited struggles towards profitability. Lauryn Ishak | Bloomberg | Getty Images More tech startups in Southeast Asia laid off workers this year, as macro headwinds widened losses and venture capitalists pushed startups to extend their runways. Last …
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