Wedding giant The Knot Worldwide cuts 4% of workforce in restructuring
Wedding-planning giant Knot Worldwide cut about 4% of its global workforce this week as part of an internal restructuring, according to information obtained by The Washington Post. About 100 employees in The Knot’s sales and marketing departments have been laid off, according to a person familiar with the matter. The company began notifying affected employees […]
Brazil cuts ties with Nicaragua as it rethinks links with leftist authoritarians | Brazil
Brazil and Nicaragua have expelled each other’s ambassadors in a tit-for-tat diplomatic spat, and Brazilian President Luiz Inacio Lula da Silva appears to be reconsidering his approach to the authoritarian leftist ruler once seen as an ally. The pair’s ouster this week comes amid rising tensions between Lula and another supposedly progressive leader, Venezuelan President […]
Goldman Sachs CEO David Solomon predicts Federal reserve won’t make emergency rate cuts
Goldman Sachs CEO David Solomon said the Federal Reserve will not make an emergency interest rate cut before the central bank’s September meeting, despite Monday’s Wall Street sell-off over growing recession risks. “I don’t think we’ll see anything by September.” Solomon said in an interview on Bloomberg’s “The David Rubenstein Show: Peer-to-Peer Conversations.” Goldman Sachs […]
Scandal-plagued Illinois mayor boots residents from public meeting as town cuts off government credit card
Residents of Dolton, Illinois, demanded an explanation from embattled Mayor Tiffany Henyard while attending a contentious board meeting Monday night. Residents expressed dissatisfaction with the way the village is being run and also questioned government spending during the meeting, which was filled with interruptions, disruptions, shouting and walkouts. Dolton police and Cook County sheriff’s deputies […]
Axios cuts roughly 50 positions amid ‘changing’ media landscape: ‘Painful but necessary’
News site Axios is cutting about 50 jobs in light of uncertainty in the media industry, Axios co-founder and CEO Jim VandeHei said on Tuesday. In a memo to employees, Axios’ CEO said the company needed to make “difficult changes” to adapt to a changing environment. “We are making difficult changes to quickly adapt to […]
Where Tim Walz stood on tax cuts in Congress
Minnesota Governor Tim Walz (Democrat) has a mixed record on taxes, having voted for tax increases that angered Republicans while also breaking with Democrats to extend Republican tax cuts. As a member of the House of Representatives in 2012, Walz was one of 19 House members who voted for a Republican bill to extend George […]
UK news outlet cuts live feed after reporter is surrounded by masked men shouting ‘Free Palestine’
Britain-based Sky News halted its live coverage after a group of masked men disrupted the broadcast, shouting foul language and “Free Palestine”. Sky News reporter Becky Johnson reports on the unrest in Birmingham, England, where a crowd of Muslim men gathered on Monday to “protect the city” from the “far right.” Riots have broken out […]
Warren Buffett’s Berkshire cuts Apple stake by half, boosts cash stockpile to $277B
Neuberger Berman Senior Research Analyst Dan Flax predicts earnings for big tech companies and which stocks are well-positioned. Warren Buffett’s Berkshire Hathaway The company plans to sell about half of its Apple shares, increasing its cash holdings to about $277 billion, according to figures released on Saturday. Berkshire’s quarterly report It suggests that the 93-year-old […]
Intel’s massive job cuts come after it received $8.5 billion in taxpayer money
Evolution VC Partners founder Greg Smith analyzes Varney & Co.’s ‘massive’ stock market sell-off Months after the federal government gave Intel $8.5 billion in subsidies to bring chip manufacturing back to the U.S., the company announced it would cut 15% of its workforce, or about 17,000 jobs. The technology company announced the job cuts as […]
Panicked Democrats Demand Rate Cuts Now
Democrats on Friday called on the central bank to cut interest rates now as unemployment continues to soar. The unemployment rate jumped to 4.3% and payrolls added 114,000 jobs in July, well below the 180,000 that economists had expected. John Carney, economics editor at Breitbart News, noted that a significant increase in the unemployment rate […]