WASHINGTON—Treasury Secretary Janet Yellen said regulators may need to tighten banking rules after the collapse of Silicon Valley Bank and Signature Bank, arguing that the recent turmoil is a sign that efforts to strengthen the financial system are incomplete. Speaking at an economic conference on Thursday, Ms Yellen questioned whether the regulatory system she helped … Read more
Wall Street’s average bonus fell 26% last year, the biggest percentage drop since the financial crisis, as a trading slump slashed bankers’ pay. Financial employees received average bonus checks of $176,000 last year, up from a record high of $240,000 a year earlier, the New York state comptroller’s office said in a report Thursday. The … Read more
Lawmakers continue to hammer banking regulators over SVB’s collapse. Russia detains an American journalist from the Wall Street Journal. It’s the opening day of Major League Baseball. The pressure is on Steve Cohen’s Mets. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, United States, March 29, 2023. Brendan … Read more
waltz disney Co. SAY 2.16% laid off more than 300 employees in Beijing who worked on its streaming services, according to people familiar with the situation, as part of an effort to cut costs and restructure the entertainment company. The layoffs in China come as Disney this week began making the first wave of job … Read more
A view of a Canadian sportswear retailer’s Lululemon logo seen in one of their stores. Alex Tai | light flare | Getty Images Check out the companies making headlines on Wednesday at noon. Lululemon – Shares of the activewear company soared more than 13% after the company reported strong holiday quarter earnings and revenue that … Read more
Micron Technology Inc. reported its biggest ever quarterly loss from an inventory write-down of more than $1.4 billion on Tuesday, but shares held steady as executives suggested the memory market could reach a low. “We now believe that customer inventory has declined in several end markets, and we see a gradual improvement in the balance … Read more
Mickey Mouse has left the Metaverse. waltz disney Co. SAY 1.64% eliminated its next-gen customer experiences and storytelling unit, the small division that was developing metaverse strategies, according to people familiar with the situation, as part of a broader restructuring that is expected to reduce the number of employees of about 7,000 in the business … Read more
Lyft Inc., LYFT -2.74% struggling with competition and a falling stock price, is bringing in a board member as chief executive, and its two co-founders will step back from managing the company, the ride-hailing company announced Monday. David Risher, who has held senior positions at Amazon.com Inc. and Microsoft Corp. before launching a children’s reading … Read more
The concern around TikTok in Washington is drawing new attention to how Chinese apps have become part of the fabric of young Americans’ lives and what makes them so popular. Four of the top five most popular apps in the US in March were forged in China. Algorithms are often cited as their secret sauce. … Read more
I am try to get outside advice on the possibility of retiring in the next 5 For 7 years. I amI have to work until I’m 59.5 to be able to start using the retirement funds. We have about $1.4 million in 401(k) and Roth accounts, $30,000 in stock, a rental house we owe $245,000 … Read more
