David Gura
Stories
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Technology
Robinhood cuts nearly a quarter of its staff as the pandemic darling loses its shine
Robinhood – the company that became a household name during the pandemic – is cutting staff, citing a deteriorating economy and worsening market.
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Business
GDP report will give clues as to whether the U.S. is in a recession
The federal government is releasing its latest update on the U.S. economy. But numbers showing negative growth in the second quarter of the year will add to fears that a recession is underway.
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Business
U.S. economy just had a 2nd quarter of negative growth. Is it in a recession?
GDP shrank for a 2nd quarter in a row. While two consecutive quarters of negative growth is often considered a recession, it's not an official definition. Parts of the economy are clearly struggling.
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Business
The Fed hopes another aggressive rate hike will help to tame high inflation
The Federal Reserve is expected to hike its benchmark interest rate by an additional three-quarters of a percentage point on Wednesday, as it continues to fight high inflation.
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Business
Amid the hype, they bought crypto near its peak. Now, they cope with painful losses
Many first-time investors bought Bitcoin and other cryptocurrencies as they neared all-time highs, and crypto companies spent millions on marketing. Today, they are coping with painful losses.
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Business
Goldman Sachs CEO sees recession risk as more likely than his own economists
Landing a job at Goldman Sachs is a golden ticket. It's harder to get hired by Goldman than to get into Harvard. CEO David Solomon says 3,500 workers start this week. He wants them all in the office.
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Law & Courts
A centuries-old court in Delaware will decide if Elon Musk has to buy Twitter
In a lawsuit, Twitter has asked the Delaware Court of Chancery to order the Tesla CEO to follow through with a $44 billion takeover bid for the social media company.
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Business
From blockbuster to bust: Behind the precipitous drop in IPOs
Private companies are sitting on the sidelines in 2022 after a record setting year of initial public offerings fueled by cheap borrowing.
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Business
It's been a vicious 6 months for stocks. Here's what the grim markets are signaling
All that whipsawing on Wall Street reflects real nervousness among investors. They're worried the Fed may tip the U.S. economy into a recession. First it was risky names, now it's most stocks.
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Business
Crypto billionaire says Fed is driving current downturn
FTX CEO Sam Bankman-Fried says that, until investors get used to higher interest rates, risk assets, including cryptocurrency, won't recover.