Thursday’s inflation report could challenge the market outlook for big Fed rate cuts

Thursday’s inflation report could challenge the market outlook for big Fed rate cuts

Consumers shop at a retail chain store in Rosemead, California, on Dec. 12, 2023. Frederic J. Brown | AFP | Getty Images Economists expect that inflation nudged higher in December, a trend that could call into question the market’s eager anticipation that the Federal Reserve will slash interest rates this year. The consumer price index,…

Amazon lays off more than 500 employees in its Twitch unit

Amazon lays off more than 500 employees in its Twitch unit

The layoffs represent the third round of cuts at Twitch in less than a year. Last March, Twitch let go of roughly 400 staffers, and it cut some employees in its customer experience division last October. The unit has also seen turnover in its highest ranks. Longtime CEO Emmett Shear stepped down last March, turning…

Spot ETFs offer an easier and cheaper way to invest in bitcoin

Spot ETFs offer an easier and cheaper way to invest in bitcoin

Omar Marques | Lightrocket | Getty Images It’s cheaper than ever to buy bitcoin. After 10 years of rejections, the U.S. Securities and Exchange Commission on Wednesday approved 11 applications for bitcoin exchange-traded funds submitted by some of the biggest asset managers in the world, including BlackRock and Fidelity. In many cases, investors will pay…

Amazon cuts hundreds of jobs in Prime Video and MGM Studios: Read the memo to employees

Amazon cuts hundreds of jobs in Prime Video and MGM Studios: Read the memo to employees

Amazon continues to trim its headcount after a year of mass layoffs. Beginning at the end of 2022 and continuing through 2023, Amazon initiated the largest layoffs in its history, cutting more than 27,000 jobs across almost every area of the company. Team, We’ve taken significant steps towards our long-term vision of making Prime Video…

Citigroup at risk of quarterly loss after charges come in far higher than initially disclosed

Citigroup at risk of quarterly loss after charges come in far higher than initially disclosed

Jane Fraser CEO, Citi, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, May 1, 2023. Mike Blake | Reuters Citigroup warned investors late Wednesday that charges tied to the decline of the Argentine peso as well as the bank’s reorganization came in far higher than disclosed by the company’s CFO just…

Rams’ Matthew Stafford prepares to be Ford Field tough: ‘I’m the bad guy coming to town’

Rams’ Matthew Stafford prepares to be Ford Field tough: ‘I’m the bad guy coming to town’

Team events. Wardrobe changes for photo shoots. Media days. Those were the few times Rams quarterback Matthew Stafford can recall being in the visitors’ locker room at Ford Field in Detroit, where he spent his first 12 NFL seasons playing for the Lions. But Sunday, before an NFC wild-card game, the visitors’ locker room is…