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Rising Inflation Puts Pressure On Corporate Profits, Despite Hopes Of Recovery

Corporate profit expectations on Wall Street may be inflated. S&P 500 companies may be on the verge of a turnaround after a year of decline. Experts predict a 0.2% increase in profits for the summer, marking the first growth in a year. The previous three quarters witnessed falling profits due to rising costs and a…

ByFinance Capitol StaffOctober 3, 20230Comments

Business

Amazon Is Being Sued By The FTC And 17 US States

The Federal Trade Commission and 17 US states sued Amazon on Tuesday, alleging that the company illegally stifled competition, thus protecting a monopoly in online retail, reports The New York Times. Amazon would allegedly squeeze merchants and favor its own services, which would produce artificially higher prices, as merchants would be blocked from selling their…

ByFinance Capitol StaffSeptember 28, 20230Comments

Financial Updates

Amazon Invests $4 Billion In AI Startup Anthropic

Amazon is investing up to $4 billion in AI startup Anthropic and taking a minority stake in the company as a part of a plan to keep Alexa at peace with new AI technology, reports the Associated Press. Both companies said the deal is part of a much larger collaboration to develop foundation models, which…

ByFinance CapitolSeptember 26, 20230Comments

Financial Updates

Microsoft Is Closer To Acquire Activision Blizzard Thanks To British Regulators

Microsoft’s restructured $69 billion deal to buy video game maker Activision Blizzard is now closer to going through as British competition regulators gave their preliminary approval. If the deal goes through, it will be one of the largest tech transactions in history, reports the Associated Press. The Competition and Markets Authority said the restructured proposal…

ByFinance Capitol StaffSeptember 21, 20230Comments

Business

Tesla Is In Early Talks With Saudi Arabia For An EV Factory In The Kingdom

Electric automaker Tesla is in early talks with Saudi Arabia to possibly build an EV factory in the country, the Wall Street Journal reports, citing sources familiar with the discussion. According to the report, the manufacturing facility could help the kingdom to diversify its economy away from oil. The talks are at a very early…

ByFinance Capitol StaffSeptember 19, 20230Comments

Economy

2023 Sets New High For Billion-Dollar Weather Disasters In The US

This year, the US set a new record for the number of weather disasters that have cost $1 billion or more, reports the Associated Press. This year already broke the 2020 record and there are still four months left. The National Oceanic and Atmospheric Administration announced that this year there have been 23 weather disasters…

ByFinance Capitol StaffSeptember 12, 20230Comments

Economy

U.S. Job Growth Moderates As Economy Adapts To Rate Hikes

The U.S. added 187,000 jobs in August, reflecting a slow yet resilient economy despite the Federal Reserve's high interest rates, according to a report by the Associated Press. While this marks an improvement from July's revised gain of 157,000 jobs, it signals a deceleration in hiring compared to last year's gains. Although the unemployment rate…

ByFinance Capitol StaffSeptember 5, 20230Comments

uncategorized

How Can Generative AI Improve Your Sales?

It’s been a while since generative AI was available for the public, and paradigms have shifted rapidly. The impact that AI has had is real and implementing it on business strategies will become critical in the future. According to an article published in Forbes, companies using AI in sales have reported a 50% increase in…

ByFinance Capitol StaffAugust 29, 20230Comments

Business

UPS Workers Reached New Agreement After Negotiations

The Teamsters, representing 340,000 UPS workers, announced on Tuesday the successful ratification of the tentative contract agreement reached last month, reports the Associated Press. An overwhelming 86% of the votes cast by members favored the ratification of the national contract. While more than 40 supplemental agreements were also ratified, an exception was the one covering…

ByFinance Capitol StaffAugust 24, 20230Comments

Politics

Biden Celebrates The Anniversary Of The Inflation Reduction Act As He Tries To Promote “Bidenomics”

President Joe Biden celebrated the one-year anniversary of the Inflation Reduction Act at a White House event on Wednesday. The president stood alongside people who have been aided by the law, the Associated Press reports. Biden proclaimed that his administration is “turning things around” for people in the U.S., investing in more clean energy jobs…

ByFinance Capitol StaffAugust 22, 20230Comments

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