NEW YORK—Stocks slipped Friday, giving back some of their gains from earlier in the week as worries brewed about the global economy and prospects for profits at big internet companies. The S&P 500 lost 0.9 percent to break a three-day rally that had carried Wall Street to its highest level in six weeks. The Nasdaq…
Snap’s Report Incinerates $80 Billion in Ad Industry Market Cap
Facebook-owner Meta Platforms, Google-owner Alphabet, and other companies that sell online ads lost about $80 billion in combined stock market value on Thursday after Snap posted poor quarterly results and warned of an uncertain outlook. Slammed by a weakening economy, increased competition from TikTok, and recent privacy changes on iPhones, the Snapchat owner missed second-quarter…
Republicans Must Probe Hunter Biden Laptop If They Win Midterms: Rep. Matt Gaetz
Rep. Matt Gaetz (R-Fla.) said that Republican lawmakers must focus on investigating the laptop of Hunter Biden, President Joe Biden’s son, if the GOP wins control of the House in the November 2022 midterms. “Joe Biden and Hunter Biden have not lived one day under Republican oversight. If we get control of the House of…
Hunter Biden Is ‘Central Point for the Biden Crime Family’: Rep. Matt Gaetz
Rep. Matt Gaetz (R-Fla.) said that Hunter Biden, President Joe Biden’s son, is the “central point for the Biden crime family” and that Americans are “witnessing a crime spree in progress.” Gaetz is the House lawmaker who in March this year entered into congressional record “content from, files from, and copies from Hunter Biden’s laptop.” The…
American Express 2Q Profits Fall 14 Percent Despite Higher Cardmember Spending
NEW YORK—American Express’ profits fell 14 percent in the second quarter, the company said Friday, as higher expenses more than offset record spending on its network by its cardmembers. AmEx had profit of $1.96 billion, or $2.57 a share, down from $2.28 billion, or $2.80 a share, in the same period a year earlier. That…
EU Drug Regulator Recommends Clearing Bavarian Nordic Vaccine for Monkeypox
LONDON—The European Medicines Agency said Friday that the smallpox vaccine made by Bavarian Nordic should also be authorized against monkeypox. The European Union drug regulator said its recommendation was based on animal studies that suggest the vaccine protects non-human primates from monkeypox. It is up to the EU’s executive arm, the European Commission, to formally…
Japanese Government Approves State Funeral Date for Slain Former Prime Minister Abe
TOKYO—The Japanese government said on Friday it would hold a state funeral for former Prime Minister Shinzo Abe on Sept. 27. Abe, prime minister for more than eight years over two terms and hugely influential in the ruling Liberal Democratic Party (LDP) even after leaving office, was gunned down two weeks ago at a campaign…
Drastic Drop Unlikely for US Housing Market, Economist Says
As the U.S. real estate market slowly cools and sales volumes decrease significantly, whether housing prices will plummet has become a major concern for many. But one economist has predicted there will not be an abrupt collapse as experienced after the previous U.S housing bubble. Due to the FED’s interest rate hike and rising mortgage…
Atlanta Prosecutors Plan to Retry Man Who Shot Wife in SUV
ATLANTA—Prosecutors said Friday that they plan to retry a well-connected Atlanta man whose murder conviction in the shooting death of his business executive wife was recently overturned. Claud “Tex” McIver, 79, was convicted in 2018 on charges of felony murder, aggravated assault, influencing a witness, and possession of a firearm during the commission of a…
About 45 Percent of Small US Businesses Are Freezing Hiring Amid Soaring Inflation, Labor Costs
July 23, 2022
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About 45 percent of small business owners in the United States are freezing the hiring of new workers because of high labor costs and skyrocketing inflation, according to the Alignable July Hiring Report. A competing survey came up with similar results, interviewing 4,739 small business owners, conducted from late June through mid-July. This is despite 51…
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