Money

U.S. stocks drop as weak data fuels recession fears

Published

8 months ago

April 5, 2023

ticker NEWS

Wall Street dropped amid concerns the Federal Reserve’s campaign to rein in decades-high inflation may cause a deep downturn

U.S. stocks dropped on Tuesday after economic data came in weaker than predicted. That raised worries that the Federal Reserve’s moves to rein in decades-high inflation may cause a deep downturn.

The Dow lost 6-tenths of one-percent. The S&P 500 fared about the same while the Nasdaq slipped half of one percent.

Job openings in February fell to their lowest level in nearly two years which raised concerns about the health of the economy, according to RiverFront Investment Group Chief Investment Officer Kevin Nicholson.

“The markets are being driven by the JOLTS report that came out this morning that showed that we were under 10 million jobs for the first time since May of 2021. And so that gave the market the impression that the, you know, the labor market was slowing and that the Fed would have to take that into consideration and probably not raise rates”

Also, factory orders fell more than anticipated, their second straight monthly decline.

Bank stocks took a hit after JPMorgan Chase CEO Jamie Dimon warned in a letter to shareholders that the U.S. banking crisis is ongoing and that its impact will be felt for years.

Other stocks making moves included Virgin Orbit Holdings, which sunk 23-percent after the satellite launch company filed for Chapter 11 bankruptcy after it failed to secure long-term funding.

Shares of AMC Entertainment also fell. Its stock plummeted 23-percent after the movie theatre chain said it agreed to settle litigation and proceed with converting its preferred stock into common shares. #trending #featured

Leaders

Diversifying and enhancing payment methods

Published

16 hours ago

December 8, 2023

ticker NEWS

American Express reveals Australian homeowner bill payment insights

In response to the growing trend of card and tap-and-go payments, organisations are adapting their systems to accommodate diverse payment options.

American Express recently conducted research shedding light on homeowner sentiments towards local councils, with a focus on Australian attitudes and behaviours related to bill payments.

Vice President and General Manager of Global merchant services at American Express, Robert Tedesco, provides his insights.

Leaders

Explosive growth and dominance of the audio industry

Published

21 hours ago

December 8, 2023

ticker NEWS

Global radio market hits staggering $143 billion valuation, cementing audio industry’s dominance

The audio industry continues to assert itself as a formidable force, with the 2023 global radio market reaching a substantial value of $143 billion.

The podcast market has surged to an impressive worth of $18.52 billion, showcasing a compound annual growth rate of 27.6%.

Tony Simmons, CEO and founder of Sonnant, discusses how the audio industry can be made even better.

Presented by VentureCrowd – To find out more about Conscious Investing, head to www.venturecrowd.com.au

Money

Nick Kyrgios shocks fans with surprise OnlyFans announcement

Published

23 hours ago

December 8, 2023

ticker NEWS

Tennis sensation Nick Kyrgios sent shockwaves through the sports and entertainment world today as he revealed a surprising career move.

The Australian athlete, known for his fiery on-court antics and charismatic personality, has announced his entry into the world of OnlyFans, a platform typically associated with adult content creators.

In an unexpected turn of events, Kyrgios took to social media to share the news with his followers. He stated, “I’ve always enjoyed pushing boundaries and breaking the mold. I’m excited to announce that I’ll be joining OnlyFans to share exclusive content and connect with my fans in a new way.”

The announcement has left fans and pundits alike wondering what kind of content Kyrgios will be sharing on the platform.

The decision has sparked a debate about the intersection of sports and social media, as well as the evolving landscape of content creation.

Some fans are eagerly anticipating behind-the-scenes glimpses of Kyrgios’s life, while others are questioning the potential impact on his professional tennis career.