LONDON—Borrowing costs in government bond markets rose and share markets stalled on Thursday after a surprise interest rate hike in Canada gave investors their second reminder of the week that the surge in global interest rates isn’t done yet. Asian markets had struggled overnight and the cautious mood continued in Europe as London’s FTSE, Germany’s…
Shares Stall as Bond Markets Reprice Rate Expectations
June 8, 2023
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Reddit to Lay Off About 5 Percent of Its Workforce
Reddit said on Tuesday it is laying off about 5 percent of its workforce, or 90 employees, joining a list of technology companies that have been cutting jobs across corporate America. Tech companies including Meta Platforms have been slashing jobs after aggressively hiring during the pandemic, as the industry braces for an economic downturn. Meta,…
New York City Goes After Hyundai, Kia After Security Flaw Leads to Wave of Social Media Fueled Theft
June 7, 2023
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Business & Marketscar theftCompaniesCrime & Public SafetyCrime and IncidentsHyundaiKiaNew YorkNY NewsRegional & State NewsState NewsUS
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New York City has filed a lawsuit against Hyundai and Kia, joining a host of other cities beset by a social media fueled wave of car thefts due to a flaw that made some car models highly susceptible to theft. Viral how-to videos on TikTok and other sites show how to start the cars using…
Over 200 Pro-LGBT Groups Demand Target Restock Pride Merch
Some 200 left-leaning groups have demanded that Target fully restock all its Pride merchandise and release a public statement pledging its allegiance to the LGBT community. The progressive coalition, which includes groups with a broader mandate like the National Association of Social Workers as well as ones more narrowly focused on LGBT interests like Grand…
Tucker Carlson’s Twitter Debut Produces Huge Numbers
Former Fox News host Tucker Carlson’s first Twitter show on Tuesday night went viral, generating more than 85 million “views” in less than 24 hours. In a 10-minute-long monologue, Tucker made reference to the destruction of a dam in Ukraine. He also claimed that legacy news outlets have ignored the “bombshell of the millennium” after…
AI Firm Cannot Go Public as ‘Strange’ Decisions May Need to Be Taken, Claims CEO
Sam Altman, the chief executive of OpenAI, claims there is no intent to take the organization public as he wants to maintain complete control in order to be able to take “strange” decisions when necessary. “When we develop superintelligence, we’re likely to make some decisions that public market investors would view very strangely,” Altman said…
Air India Plane From Delhi to San Francisco Lands in Russia After Engine Problem
June 7, 2023
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ISTANBUL/WASHINGTON—An Air India plane flying from Delhi to San Francisco was forced to divert and land at an airport in Russia’s Far East after it developed a technical issue with one of its engines, the airline said on Tuesday. The 216 passengers and 16 crew onboard were being offered support on the ground and accommodated…
BlackRock’s China Head Leaving the Company
June 7, 2023
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BlackRock, the world’s largest asset manager, announced on June 6 that Tony Tang, the head of its China business, is leaving the company. Tang played a key role in driving the expansion of BlackRock’s operations in the world’s second-largest economy. In response to a question from Reuters, BlackRock confirmed Tang’s departure, stating that he “has…
BBC Is Biased ‘On Occasion,’ Says UK Culture Secretary
The UK Culture Secretary Lucy Frazer has told a group of MPs that the BBC is biased on occasion, but refused to give any specific examples. In her first appearance before the Culture, Media, and Sport Committee since she took up the post in February, Frazer said that she was a supporter of the BBC…
CNN CEO Chris Licht Is Out Just Weeks After Trump Town Hall
Chris Licht, who was named as CNN’s chairman and CEO about a year ago, will depart the corporate news network, said the chief executive of CNN’s parent company. David Zaslav, the head of Warner Bros. Discovery which owns CNN, said that he “met with Chris and he will be leaving CNN,” according to a report…
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