Business

Another cold reminder that inflation is staying hotter than hoped caused Wall Street to slide on Friday, and stocks ended their worst week since early December. The S&P 500 fell 1.1% to cap its third straight weekly loss. The Dow Jones Industrial Average fell as much as 510 points before shedding 336 points, or 1%, while the Nasdaq Composite lost…

“Although some optimism appears to have crept into the housing sector, it represents a rise from a very low level of activity and risks falling again if interest rates reverse,” Fannie Mae economists wrote in their latest report. In early 2023, a combination of factors came together to make the slumping real estate market feel a little warmer. For starters,…

Faced with falling profits and high debt burdens, companies are reducing dividend payments to shareholders to improve the health of their balance sheets. Intel, the world’s largest maker of computer processors, this week cut its dividend payment to its lowest level in 16 years in a bid to save money and get its business back on track. Hanesbrands Inc., a…

Netflix is ​​slashing its prices in several of its smaller markets in the latest turnaround in the video-streaming service’s efforts to keep its recently revived subscriber growth afloat amid stiffer competition and inflationary pressures that are urging more households to rein in their discretionary spending. The lower prices that began Roll out early this week affect more than 30 of…

Tracking steps and sleep is so old fashioned. The latest wellness tracking trend? Blood sugar (also known as blood sugar). Videos talking about using continuous glucose meters (aka CGMs) are all over TikTok, and glucometer ads are likely following you online. Long the domain of diabetics (including Nick Jonas, who appeared in a Super Bowl commercial for Dexcom’s CGM), more…

Publisher Penguin Random House announced Friday that it will publish “classic” unabridged versions of Roald Dahl’s children’s novels after receiving criticism for cuts and rewrites intended to make the books suitable for modern readers. Along with the new editions, the company said 17 of Dahl’s books will be released later this year in their original form as “The Roald Dahl…

Forget the robots taking over our jobs. You could be right next to us on the unemployment line. Google’s latest round of layoffs, which affected 12,000 employees at the company, didn’t stop with human workers. The belt tightening also resulted in over 100 robot workers being shut down. Wired reports. The Everyday Robots division, which was one of the divisions…

The US on Friday announced a new round of sanctions against Russian firms, banks, manufacturers and people, targeting companies that helped Russia evade sanctions at the start of the year-long war against Ukraine. Russia’s metals and mining sector is among the targets of one of the “most significant US Treasury Department sanctions actions to date,” according to the agency. The…

Welcome to This Week in the Metaverse, where wealth summarizes the most interesting news in the world of NFTs, culture and the metaverse. E-mail [email protected] with tips. BlackRock, the world’s largest asset manager, lets investors dive into the world of Metaverse investing with its new ETF. The new iShares Future Metaverse Tech and Communications ETF, which launched this week, brings…

The US Federal Reserve’s favorite indicator of inflation ticked higher in January, a sign that price pressures in the US economy are lingering and could prompt the Fed to hike interest rates well into this year. The Commerce Department’s Friday report showed consumer prices rose 0.6% from December to January, a sharp rise from a 0.2% rise from November to…