October saw a slowdown in the growth of jobs in the U.S. economy, which confirmed long-standing predictions of a downturn and may have eased pressure on the Federal Reserve to rein in inflation. The Labour Department announced on Friday that nonfarm payrolls rose by 150,000 for the month, compared with a 170,000 increase that was anticipated by the Dow Jones consensus.
On Friday, U.S. Secretary of State Antony Blinken touched down in Israel with the goal of pressuring Israel to let more humanitarian aid into the beleaguered Gaza. Meanwhile, Israel’s military reported that its forces reinforced their blockade of Gaza City, the centre of Israel’s drive to overthrow the Hamas organization that rules the settlement.
Sam Bankman-Fried was imprisoned after becoming a billionaire. A jury found the 31-year-old former FTX CEO guilty of all seven counts of conspiracy and fraud. These charges entail a maximum sentence of 115 years in prison; the sentencing date is set for March 28, 2024. We anticipate an appeal from SBF.
Due to continued significant inflationary pressure on consumer spending at its Burger King franchise, Restaurant Brands International missed market predictions for quarterly sales on Friday, indicating that the company’s turnaround efforts were not meeting expectations.
Although Apple’s fiscal fourth-quarter profits topped analyst estimates in terms of earnings per share and sales, the company’s overall sales decreased for the fourth consecutive quarter.
The use of brominated vegetable oil, which was formerly widely used in well-known beverages like Gatorade and Mountain Dew but has been gradually phased out due to its link to possible health risks, including damage to the liver, heart, and brain, was proposed to be outlawed by the Food and Drug Administration on Thursday.
Target hopes to become a budget-friendly Thanksgiving dinner destination this year by providing a Thanksgiving feast for around $25. You can now purchase Target’s Thanksgiving feast for less than $25 online, in-store, or via Shipt for same-day delivery. Target also offers a free drive-up service.
Six Flags and Cedar Fair will combine to form a massive $8 billion entertainment park. The businesses that founded Knott’s Berry Farm and Great Adventure will soon merge (if regulators give their approval). The firms said in a joint statement that while they will continue to utilize Cedar Fair’s stock ticker, FUN, they will continue to use the brand Six Flags.
xAI, Elon Musk’s AI startup, will unveil its technologies on Saturday, he announced on Friday. “On X, the former Twitter, tomorrow, xAI will release its first AI to a select group,” Musk wrote. “It is the best that is currently available in some significant respects.”
Mint is shut down by Intuit, who directs consumers to Credit Karma. With over 3.6 million users, the fintech behemoth closed down its well-liked budgeting software, Mint, at the end of the year. Users are being redirected to Credit Karma in the interim, which provides comparable functionalities like transaction viewing, spending tracking, financial account aggregation, and more.
Disney announced on Wednesday that it will pay an anticipated $8.61 billion to acquire Comcast’s one-third share in Hulu. When the deal closes later this year, the streaming service will be fully housed within the Magic Kingdom.
Earnings for the third quarter were released by Paramount Global, exceeding analysts’ expectations because of declining losses at its Paramount+ streaming division. Excluding certain things, the owner of the networks CBS, MTV, and others made 30 cents per share in profit in the third quarter, the firm announced on Thursday.
Starbucks unveiled the most recent phase of its growth strategy on Thursday. This phase entails expanding the company’s global reach and slashing costs by $3 billion over the next three years. By 2030, the corporation claims to have expanded to 35,000 locations outside of North America.
SNDL Group (SNDL), Groupon (GRPN), Chase Bank (JPM), Microsoft (MSFT), GOOGL, Apple (AAPL), Pay Pal (PYPL), Walmart (WMT), Amazon (AMZN), Carnival Corporation (CCL), PepsiCo (PEP), Wells Fargo (WFC), Johnson & Johnson (JNJ), Philip Morris International (PM)SNAP INC (SNAP), Exxon Mobil (XOM), Chevron (CVX), EBAY
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CWEB News Summarized Breaking, Business and Financial Newsletter for November 2, 2023
