Business News

Buy now, pay later (BNPL) services have surged in popularity since 2019, with 17% of Americans reporting BNPL borrowing in the preceding year (source: 2022 Consumer Financial Protection Bureau survey). These platforms aim to ease larger purchases by splitting them into interest-free installments. However, consumer advocates, including Consumer Reports, have raised concerns. Their analysis reveals …

Ranking Buy Now, Pay Later Apps: Klarna to Sezzle Read More »

Son’s troubles with the $100 billion Vision Fund and WeWork losses were briefly overlooked. Son admitted his poor judgment in supporting WeWork, which resulted in significant losses. WeWork’s founder, Neumann, followed a similar path to Theranos’ Elizabeth Holmes, and Son played a pivotal role in keeping WeWork afloat. Since the release of the TV show …

SoftBank vs. S&P: Billions Vanish in Overlooked Battle Read More »

Sam Altman’s Tools for Humanity raises $115M for Worldcoin, aiming to create universal economic access. The project offers free crypto tokens in exchange for iris scans. Series C funding of the initiative was led by Blockchain Capital, with participation from a16z crypto, Bain Capital Crypto, and Distributed Global. Over 1.7 million users have signed up, …

Sam Altman’s Worldcoin Raises $115m in Funding Read More »

The global economy faces challenges, potentially leading to collapse. Analysts say collapse is inevitable, but timing is uncertain. AI systems like Google’s Bard gain popularity for financial forecasts. On May 27, Bard couldn’t confirm if the global economy will collapse in 2023. However, factors like high inflation, Ukraine’s war, and rising interest rates increase the …

Global Economic Collapse 2023: Insights from Google Bard Read More »

Nvidia wowed the market with better-than-expected Q1 earnings and impressive guidance for Q2. The stock soared by nearly 25%, gaining nearly $200 billion in market value. Despite a decline in overall revenue, Nvidia’s data center segment stole the show, with a record-breaking $4.28 billion in revenue, up 14% YoY and 18% QoQ. The demand for …

Top AI Stocks: Is Nvidia the Best Choice? Read More »

JPMorgan Chase & Co (JPM.N) is set to cut 500 employees across departments, impacting key sectors such as consumer and commercial banking, asset management, and technology. The bank, being the largest in the US, currently has over 13,000 job openings. JPMorgan declined to comment. Additionally, the lender recently acquired First Republic Bank and is laying …

JPMorgan to Slash 500 Jobs in Current Week Read More »

U.S. prices rose in April, indicating high inflationary pressures. The index monitored by the Federal Reserve showed a 0.4% increase from March, higher than the previous month’s 0.1% rise. Year over year, prices rose to 4.4% in April. Despite rising prices, consumer spending remained strong, with a 0.8% jump in April, driven by a 6.2% …

Fed’s Tracked Inflation Measure Surged in April Read More »

JPMorgan develops ChatGPT-like software, IndexGPT, for AI-driven investment selection. The New York-based bank applied for a trademark and plans to use cloud computing and AI for personalized security analysis and selection. OpenAI’s success with ChatGPT has sparked an industry-wide AI revolution, triggering an arms race among tech giants and chipmakers. Read more at CNBC

Germany falls into recession as energy price shock hampers consumer spending. The largest European economy saw a 0.3% drop in output in Q1 2023, following a 0.5% contraction at the end of 2022. The Federal Statistical Office revised its GDP estimate downward, citing the persistence of high price increases. Household consumption expenditure was particularly affected, …

Germany Enters Recession as Consumer Spending Declines Read More »