BUSINESS

BUSINESS

Stock Market Sees Biggest Drop In Two Years

The S&P 500 fell 165.17 points to 3,923.68, while the Dow slid 1,164.52 points to 31,490.07. The Nasdaq slid 566.37 points to 11,418.15. The stock market took its biggest hit in nearly two years against the backdrop of Target and other major retailers reporting less than stellar performance. Target lost a quarter of its value after reporting earnings that fell […]

BUSINESS

Netflix Turns Its Back On 150 Workers

Netflix has laid off about 150 staff, just a month after the entertainment company said it was losing subscribers for the first time in a decade. The redundancies, announced by the streaming service on Tuesday, will mainly affect its US office in California.  They account for about two percent of its North American workforce. Netflix said the job losses were […]

BUSINESS

U.K. Inflation Speeds Up At Fastest Rate In 40 Years

According to press reports, the U.K. is witnessing its fastest rise in prices in 40 years as higher energy bills take a stranglehold on millions of households. Inflation, the rate at which prices rise, leaped to nine percent in the 12 months to April, up from seven percent in March. Higher fuel and food prices, driven by the Ukraine war, […]

BUSINESS

Guyana Awash In Cash From Oil

Guyana received payments of more than US$719.5 million from the oil sector between January and March 31. According to a government statement, $638.2 million was received as profit from the sale of crude, while royalty accounts for the remaining US$81.005 million. Support The Readers Bureau Buy A T-Shirt Today (4 different colors)! click  https://www.bonfire.com/one-love-72/?fbclid=IwAR2bod-XSyrCPutOwG_SMnKiInk6Bqe2kCtjBsAFISqHluQcujrF2UUkFew Readers Bureau, Contributor Edited by Jesus […]

BUSINESS

McDonald’s Set To Exit Russia

McDonald’s is set to pull out of Russia after nearly 32 years of operation in that country. This move comes after it temporarily closed its 850 outlets in March. The fast-food giant said it made the decision because of the humanitarian crisis and unpredictable operating environment caused by the Ukraine war. The decision will directly affect some 62,000 employees, along […]

BUSINESS

The Russian Ruble Is Still Rallying

Although restrictions have been imposed on Russia and several businesses have exited the market in the country, the ruble is still holding its own against the U.S. dollar, according to press reports. Last week the currency was trading upwards, and the report noted it was up more than 11% against the U.S. dollar since the start of the year, surpassing […]

BUSINESS

S&P 500 Suffers Meltdown

Although U.S. stock prices ended higher on Friday, losses continue as investors wrestle whether or not the Feds can arrest inflation without creating great vagaries in the economy. According to Market Watch, the Dow Jones Industrial Average fell for a seventh straight week, its longest losing streak since July 2001, based on Dow Jones Market Data. The Dow Jones Industrial […]

BUSINESS

Apple Loses Its Bite

Apple Inc., the multinational technology giant, ceded its position as the world’s most valuable company amid a broad sell-off of technology stocks. Saudi Arabian oil and gas producer Aramco has reclaimed its number one position for the first time in almost two years. Investors have been selling shares in technology firms as they move into what they see as less […]

BUSINESS

Musk Sends Twitter Stock Price Fluttering

Elon Musk sent Twitter’s stock on a rollercoaster ride early Friday as he claimed that his $44 billion deal to take over the site was “temporarily on hold” — then insisted hours later that he was “still committed” to the buyout. “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of […]

BUSINESS

Oil Prices Gallop!

Oil prices run up to about 4 percent on Friday as United States gasoline prices jumped to a record high. This move comes as China seeks to ease pandemic restrictions and investors worry about whether supplies will tighten if the European Union bans Russian oil. Brent futures rose $4.10, or 3.8 percent, to settle at $111.55 a barrel. US West […]