Simone Del Rosario
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Snap gives rare warning as social media stocks wipe out billions in one day
Snap Inc. shares sank 40% Tuesday morning after warning it would miss its own revenue and earnings targets, dragging the entire social media industry with it. The correction came just one month after the social media company had set those targets. “Since we issued guidance on April 21, 2022, the macroeconomic environment has deteriorated further… -
India tops cheapest, best summer adventure destinations
Here’s the good news: summer’s right around the corner and COVID-19 restrictions are practically a thing of the past. The bad news: now it’s inflation putting a damper on those travel plans. Never fear: we’ve got ways to beat it with the best and cheapest summer adventures in this week’s Five For Friday. #5: Vietnam… -
Experts say stagflation is upon us. Here’s what that looks like.
With persistent inflation at its highest level in 40 years and warnings of an economic slowdown, experts are sounding the alarm over an economic calamity. We’re not talking about recession but rather stagflation — a phenomenon that concerns economists and central banks alike. Definition Stagflation is an economic event where rising prices meet a slowing… -
Recession risk “very, very high” while markets continue selling off
Leading financial experts are starting to say the “R” word more frequently, warning that the risk of a recession in the next two years is increasing. In an interview with CBS Face the Nation, Goldman Sachs Senior Chairman Lloyd Blankfein categorized the risk factor as “very, very high.” A recession occurs when the country sees… -
Gas, care among 5 return-to-office costs rising amid record inflation
President Joe Biden told Americans during his March 2022 State of the Union address, “It’s time for Americans to get back to work to fill our great downtowns again with people.” Easy for him to say — he works from home. For the rest of Americans returning to office life, there’s a bit of sticker… -
Controversial stablecoin Terra, LUNA tank as Bitcoin dips below $26k
Bitcoin and other cryptocurrencies tumbled Thursday amid a massive sell-off in the space, triggered by a risk-off and collapse of stablecoins. Based on estimates from CoinMarketCap, about $200 billion in wealth was wiped from the cryptosphere in 24 hours. Bitcoin dipped below $26,000 Thursday morning before recovering some, down about 11% over the 24-hour period.… -
Will Disney CEO Bob Chapek’s Florida fumble cost him his job?
After just two years on the job, Disney CEO Bob Chapek is already in the hot seat after stumbles over Florida’s controversial Parental Rights in Education law, dubbed by critics as the “Don’t Say Gay” legislation. Now, new reports indicate entertainment insiders are questioning whether Chapek can hold onto the Disney magic and his job when his… -
Inflation finally peaked: Annual consumer prices rose 8.3% in April
The country is getting the first concrete sign that runaway inflation has peaked. The Labor Department announced Wednesday that consumer prices rose 8.3% in April from a year ago, which is still one of the highest readings in four decades but slightly below the March peak of 8.5%. Monthly growth dramatically cooled to 0.3% in… -
Gas prices reach all-time high, fueling inflation concerns
Gas prices hit a new all-time high Tuesday just two months after the last national record was set. According to AAA, the national gas average for May 10 is $4.37 per gallon, the highest ever recorded. Drivers are now paying $1.40 more per gallon than one year ago. Drivers with diesel vehicles are feeling even… -
Goodbye gains: Retail day traders wipe out all pandemic wins
While pretty much no one is a winner in this stock market, there’s potentially a biggest loser: Retail day traders. The meme-stock phenomenon is seeing serious red this year after remarkable pandemic gains. Crowd-sourced pumps in stocks like GameStop and AMC made these amateur investors rich during the pandemic, but Morgan Stanley estimates they’ve now wiped… -
Microsoft, Twitter in Lina Khan’s crosshairs in FTC’s Big Tech crackdown
The biggest tech deal in history is at risk over increased scrutiny by antitrust enforcers within the Federal Trade Commission, led by a 33-year-old legal scholar and prominent Big Tech critic. Chair Lina Khan has in her crosshairs Microsoft’s $68.7 billion acquisition of Activision Blizzard, and it’s not her only target. The agency is also… -
From TikTok to gas hacks: 5 money saving tips to fight inflation
Inflation is on a tear, markets are volatile and consumer dollars aren’t going as far as they once did. It sounds like a perfect time for some valuable penny-pinching tips in this week’s Five For Friday. #1: Cash stuffing Popular video-sharing app TikTok has turned the old-school “cash envelope system” on its head. “Cash stuffing”… -
Fed’s historic interest rate hike aims to cool inflation, could crash economy
The Federal Reserve announced Wednesday it’s hiking its benchmark interest rate by 50 basis points, the second hike in two months and the largest one-time hike since the year 2000. With inflation now running at a 40-year high after two years of pandemic-driven monetary policy, the Fed is trying to tamp down without triggering a…
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