An ongoing meltdown in US stock prices, driven by pessimism about the economic outlook, is boosting the risk of a recession that arrives sooner than most professional forecasters anticipate, traders and investors say. Falling equity prices have already contributed to the disappearance of $ 5 to $ 8 trillion in household wealth this year, and … Read more
The technology industry has been cutting back as it struggles to deal with rising inflation and a deteriorating global economic environment. Justin Sullivan / Getty Images Text size Nvidia (ticker: NVDA ) is slowing the pace of hiring, the company confirmed on Sunday. The chip maker joins several other major technology companies that have decided … Read more
Text size Uber shares are attractive after a 44% decline this year, an analyst says. Justin Sullivan / Getty Images Internet stocks have tumbled worse than the general market as investors have worried about the potential for a broad-based economic slowdown. But RBC Capital Markets says the selloff is now providing buying opportunities. The First … Read more
After a bubbly year for initial public offerings, 2022 looks like a bust. Shares of many companies that came public last year are down 80% or more from their peaks. “This is the IPO market’s worst selloff in a decade,” says Matt Kennedy, a senior strategist at Renaissance Capital. He cites excessive valuations for 2021’s … Read more
If there is one person who was not shocked by the massive misses in big retailers’ results this past week, it’s our longtime (but no way old) pal, Stephanie Pomboy, who heads the MacroMavens institutional economic advisory. Even though she has been coping with a (thankfully) mild case of Covid-19, she’s still as sharp, and … Read more
The Central Consumer Protection Authority on Friday said it has issued notices to Ola and Uber for violation of consumer rights and unfair trade practices. The Authority has raised concerns including lack of consumer grievance redressal mechanisms and unreasonable levy of cancellation charges among others. It added, that a “significant number of complaints have been … Read more
How Workers Gained Leverage, And Why They Won’t Lose It SoonBarron’s
Companies which saw substantial growth during the Covid-19 pandemic are starting to take a more cautious approach toward hiring and spending. From Peloton Interactive Inc. spirit Meta Platforms Inc. thaw Twitter Inc Uber Technologies Inc. and others, corporate belt tightening comes as the Federal Reserve is raising interest rates, global stock markets have fallen and … Read more
T o anyone dreaming of quitting the sweaty commute and daily grind for a life of holidays, sports, and never working again, Liam Griffin says: do not do it. His family sold Addison Lee for £ 300 million in 2013, with Griffin staying on at the cab firm until he fell out with his private … Read more
Shares of Uber Technologies Inc. UBER, -4.65% slipped 4.65% to $ 22.57 Wednesday, on what proved to be an all-around rough trading session for the stock market, with the NASDAQ Composite Index COMP, -3.18% falling 3.18% to 11,364.24 and Dow Jones Industrial Average DJIA, -1.02% falling 1.02% to 31,834.11. Uber Technologies Inc. closed $ 29.79 … Read more