Investments and Business

Paramount Global has announced a 15% reduction in its U.S. workforce, in line with a global cost-cutting strategy in anticipation of its upcoming merger with Skydance Media. The company disclosed plans to achieve $500 million in cost savings, contributing to a larger $2 billion in synergies expected from its merger with Skydance. The upcoming layoffs, scheduled to begin soon and be completed by the end of the year, will primarily affect departments such as marketing, communications, finance, legal, technology and other support roles, the company noted in its recent earnings conference call. Last month, Paramount confirmed its merger with Skydance…

The CEO of Maersk, a leading global trade indicator, said the U.S. shows no signs of entering a recession, with demand for cargo remaining solid. The announcement was made Wednesday during an interview with CNBC's "Squawk Box Europe." Vincent Clerc, CEO, highlighted the resilience of the container shipping market despite the widespread economic uncertainties of recent years. He stressed that container demand consistently reflects the broader economic health. Clerc stressed that while U.S. inventory levels have risen since the start of the year, they are not alarming and do not suggest a major economic downturn is imminent. He noted fluctuations…

Related media - News 24 hours In a recent interview, JPMorgan Chase CEO Jamie Dimon reiterated his view that a U.S. recession remains a likely outcome, assigning a 35% to 40% chance for a mild economic downturn. That reflects his consistent stance since February, when he expressed skepticism about the market’s overly positive sentiment on recession risks. In his conversation with CNBC’s Leslie Picker, Dimon stressed that his assessment remains unchanged, highlighting ongoing global and domestic challenges that could impact economic stability. These include geopolitical tensions, housing market fluctuations, government deficits, and policy actions such as quantitative tightening and upcoming…

More news - News 24 hours Unemployment rates among white, black and Hispanic women rose in June, in line with broader economic trends, according to data released Friday by the Labor Department. White adult women saw a slight increase in unemployment, from 3.0% in May to 3.1% in June. Black women saw their unemployment rate increase from 5.2% to 5.7%, while Hispanic women saw an increase from 4.1% to 4.5%. Overall, the national unemployment rate rose to 4.1%, from 4.0% last month. In contrast, unemployment rates for men in all three racial groups declined. The rate for white men fell…

More news - Latest news The stock market is seeing significant fluctuations today, with several major companies experiencing notable mid-day moves. Major players making headlines include Robinhood, Nvidia, Intel, and a few other major stocks. Here’s a closer look at what’s driving these changes: Robin Hood: The trading platform's shares are on the move following recent announcements that have impacted its user engagement and financial outlook. Nvidia:The tech giant is seeing activity as investors react to the latest developments in artificial intelligence technology and demand for semiconductors. Intel:The semiconductor manufacturer is experiencing fluctuations in its stock price due to new…

More news - News 24 hours Sun Valley, Idaho — Jeff Bezos, known for his lavish acquisitions, such as a $165 million estate in Los Angeles and a $500 million yacht, is now making major inroads into artificial intelligence through his family office, Bezos Expeditions. According to exclusive data from FINTRX, a private wealth intelligence platform, every investment made by Bezos Expeditions this year has been in artificial intelligence. While exact amounts were not disclosed, Bezos Expeditions has participated in funding rounds totaling more than $1 billion. In January, Bezos invested in Perplexity AI, an AI search engine company, in…