Pinterest, the popular visual discovery platform, experienced a significant drop in its shares during extended trading on Thursday. This decline occurred after the company revealed a weaker-than-expected forecast and reported disappointing revenue. According to LSEG (formerly known as Refinitiv), Pinterest’s revenue for the fourth quarter of the previous year was $981 million, slightly lower than
US
Credit card debt in America has reached alarming levels, soaring to a new high of $1.08 trillion, according to the Federal Reserve Bank of New York. This represents a 10% increase from the previous year, with consumers burdened by an average balance of $6,360 per person. The rise in credit card debt can be attributed
The online advertising market is experiencing a resurgence, but the benefits are not being evenly distributed among industry players. Meta, the parent company of Facebook and Instagram, posted impressive fourth-quarter earnings, propelling its stock to record highs. In contrast, smaller competitor Snap fell short of expectations, causing investors to hastily exit the stock. This article
Meta, the parent company of Facebook, is taking additional measures to combat the spread of misinformation and deepfakes ahead of upcoming elections globally. In an effort to identify images manipulated by artificial intelligence (AI), Meta is developing tools to detect AI-generated content on Facebook, Instagram, and Threads. Previously, the company only labeled AI-generated images created
Federal Reserve Chair Jerome Powell has announced that the central bank will proceed cautiously with interest rate cuts this year, signaling a considerably slower pace than what the market had expected. In an interview with “60 Minutes” after the Federal Open Market Committee meeting, Powell expressed confidence in the strength of the economy and assured
National security adviser Jake Sullivan emphasized on Sunday that the United States intends to conduct additional military action against Iran-backed groups, heightening tensions in the already volatile Middle East. Despite Sullivan insisting that the U.S. is not seeking a wider conflict in the region, his statement raises concerns about the escalation of hostilities. This aggressive
Technology companies are experiencing a profound shift in their approach to growth. The days of unfettered expansion and limitless hiring are giving way to a more measured and disciplined strategy. Meta and Amazon, two of the largest tech companies, have recently showcased their ability to do more with less, leading to increased shareholder confidence. This
Tesla, the electric vehicle manufacturer, recently agreed to pay a fee of $1.5 million to settle a civil lawsuit accusing the company of mishandling hazardous waste materials at its facilities in California. While this may seem like a significant penalty, it is relatively insignificant for Tesla, considering the company’s reported net income of $7.93 billion
The House of Representatives made a decisive move on Wednesday night by passing a $78 billion tax package. Aimed at expanding the child tax credit, this bill achieved a bipartisan majority of 357-70, signaling strong support. However, as it now heads to the Senate, its future remains uncertain. With objections from different corners of the
In a recent ruling by the Delaware Chancery Court, the $56 billion pay package awarded to Elon Musk, CEO of Tesla, has been voided. The court stated that the company’s board of directors failed to demonstrate the fairness of the compensation plan. This decision has had a negative impact on Tesla’s stock price, as it