Tag: BUSINESS

ECB and Bank of England hike interest rates again in fight with inflation

London CNN — Europe’s two largest central banks raised interest rates sharply on Thursday, opting for bigger increases than the US Federal Reserve as inflation in the region remains near historically high levels. The European Central Bank (ECB) and the Bank of England lifted rates by another half a percentage point. Benchmark interest rates for …

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A first generation iPhone going up for auction hopes to fetch $50,000

New York CNN — An unopened first-generation iPhone from 2007 is hitting the auction block Thursday – with an estimated value of $50,000. Originally on sale for $599, the first iPhone offered early Apple adopters a 3.5-inch screen with a 2-megapixel camera, plus 4 GB and 8 GB storage options, internet capabilities and iTunes. It …

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Bizzarrini Is Back With a V12-Powered Hypercar Called Giotto

A glimpse of the future. Image: Bizzarrini The world might be on fire and we might need to make dramatic changes to our lifestyles to prevent catastrophe, but that news has not reached Italy yet. While the rest of the planet’s automakers reluctantly switch to electric or hybrid power, and global powers look to outlaw …

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Meta stock soars 20% after Zuckerberg hints at more layoffs

Meta CEO Mark Zuckerberg said the social-media giant will make 2023 the “year of efficiency” — and signaled that more layoffs could be in the offing as Wall Street reacted positively to news that the company would initiate $40 billion worth of share buybacks. Share of Meta surged by nearly 20% in pre-market trading on …

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Meta, Shell, Apple, Alphabet, Amazon, and More Stock Market Movers

Text size Meta Platforms, the parent company of Facebook, announced a new buyback plan of $40 billion. Justin Sullivan/Getty Images Stock futures were mostly higher Thursday, adding to the previous session’s gains after the Federal Reserve boosted interest rates by a quarter of a percentage point and Fed Chairman Jerome Powell said the central bank’s …

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ChatGPT creator launches subscription service for viral AI chatbot

CNN — OpenAI, the company behind ChatGPT, announced on Wednesday it is piloting a $20 monthly subscription plan that offers users priority access to the AI ​​chatbot even during peak times. The paid plan, called ChatGPT Plus, comes two months after the tool was released publicly and quickly went viral, thanks to its ability to …

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As the Fed raises rates by a quarter point, here’s where financial advisers are telling their clients to invest — and store — their money and colleges used pandemic-era relief funds to cancel nearly $1.5 billion in student debt

Hi MarketWatchers. Don’t miss these top stories. As the Fed raises rates by a quarter point, here’s where financial advisers are telling their clients to invest — and store — their money The Fed’s 25-basis-point move is its eighth consecutive straight interest-rate hike. Read More Colleges used pandemic-era relief funds to cancel nearly $1.5 billion …

As the Fed raises rates by a quarter point, here’s where financial advisers are telling their clients to invest — and store — their money and colleges used pandemic-era relief funds to cancel nearly $1.5 billion in student debt Read More »

Job openings unexpectedly jump to 11 million in December

Minneapolis CNN — Despite the looming threat of recession and the cacophony of mass layoff announcements, US businesses still need workers — 11.01 million of them. The number of available jobs unexpectedly rose in December, climbing from a revised 10.44 million openings in November and exceeding economists’ expectations of 10.25 million, according to Bureau of …

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