Author: theparknews

When Amazon (AMZN) announced an expansion that included building a new headquarters in Nashville, the move marked the single largest job security by a company in Tennessee’s history.The data shows that the rise of tech giants has also changed the economy.”Like all economists, I was skeptical before seeing the results,” said Vikram Pathania, one of Amazon’s chief economists. “We see employment growth, income growth, and a positive trend in these indicators.”Amazon’s investments contributed $4 billion to Tennessee’s gross domestic product in 2023 and supported 15,000 indirect jobs, according to data provided by the company. Additional findings show that when a…

Boeing shares (BA ) fell 2%.”Our business is in a difficult position, and the challenges we face together cannot be overstated,” CEO Kelly Ortberg said in a message to employees posted on Boeing’s website. ” he said. “Beyond navigating the current environment, rebuilding the company will require difficult decisions and structural changes that will enable us to remain competitive and serve our customers over the long term.”He added that the job cuts also include executives, managers and employees. Boeing had approximately 171,000 employees as of December 2023, according to SEC filings.”There are aircraft manufacturers that are in very deep trouble.…

WeightWatchers (WW) is trying to save struggling businesses by betting on a market that threatens their very existence.The weight-loss company, previously championed by Oprah Winfrey and others, sent its stock price soaring this week after announcing it would produce knock-offs of Novo Nordisk’s (NVO) weight-loss drugs Ozempic and Wegoby. On the news, WW International (aka Weight Watchers) shares soared nearly 40% on Wednesday and rose another 23% to close at $1.96 on Thursday. WW is up 172% from last week.WeightWatchers’ core business is diet programs, but the company is tapping into the fast-growing weight-loss drug market dominated by pharmaceutical giants…

A rough five days for markets, marked by rising tensions in the Middle East and the start and end of a port strike, capped off with a better-than-expected September jobs report, with stocks closing modestly higher this week.In the first week of October, the S&P 500 Index (^GSPC) rose 0.2%, while the Nasdaq Composite Index (^IXIC) and the Dow Jones Industrial Average (^DJI) rose about 0.1%.Over the coming week, updates on inflation and the start of third-quarter earnings reports will grab investors’ attention.October’s Consumer Price Index (CPI) report will headline the economic calendar, which will also feature updates on consumer…

OpenAI is considering moving from a nonprofit to a for-profit company, and its deep backer Microsoft (MSFT) stands to gain more if ChatGPT developers get permission to act more like a startup. You will get it.”Anything that frees up OpenAI to focus on profits is likely to benefit Microsoft’s investment in the company,” said Sarah Kreps, director of the Technology Policy Institute at Cornell University’s Brooks School of Public Policy. said.A restructured business structure would give Microsoft an opportunity to renegotiate its already generous profit caps and negate its interest in general artificial intelligence (GAI) developed by OpenAI, another person…

Two debates have taken place in recent weeks, and health care, which had previously been somewhat of a theme in the presidential campaign, has emerged as a top issue in the final campaign.It started when President Trump said last month that he had a “vision for a plan” to replace the Affordable Care Act (also known as Obamacare), and continued at Tuesday night’s vice presidential debate in New York.On stage this week, Republican Vice Presidential candidate J.D. Vance framed President Trump’s repeated repeal attempts as a victory for the American people, saying that we are back to the days when…

Longshoremen began a strike Tuesday across the eastern United States and Gulf Coast.A strike by about 45,000 workers could “hurt economic growth and push up inflation,” but only if the strike is prolonged, said Morgan Stanley economist Diego Anzoategui. he wrote in a note to clients on Wednesday.”Although rail services have already been suspended and freight rates have temporarily increased, we believe the impact on transportation should be reasonably limited unless there is a long-term suspension of operations.” Anzoategui wrote.He added that food and beverages would see the biggest price increases from the strike.Additionally, strikes can affect the measurement of…

The fallout from the U.S. longshoremen’s strike, which began on Tuesday, has brought uncertainty to the 2024 presidential campaign, created a new sense of uncertainty in the U.S. economy, and caused major battleground states from Georgia to Michigan to loom large. It can be felt directly.Much of the anxiety hinges on how much of an impact, and for how long, the withdrawal of longshoremen on the East Coast and Gulf Coast will have.”If this situation continues for more than a few days, or even a week, there will be significant cascading effects,” Flexport founder and CEO Ryan Petersen said in…

A possible strike by longshoremen next Tuesday would add uncertainty to the 2024 presidential campaign, create a new sense of uncertainty in the U.S. economy and threaten key battleground states from Georgia to Michigan. can be felt directly.Much of the uncertainty depends on how much and for how long the impacts will be felt.”If this situation continues for more than a few days, or even a week, there will be significant cascading effects,” Flexport founder and CEO Ryan Petersen said in a recent appearance on Yahoo Finance. “15% of the world’s container ships could be affected by the outage.””This is…

When it comes to finances, sports betting may be one of the gambling options you want to avoid.Sports betting can lead to poor debt management and a negative impact on credit scores, and two recent studies have found that gamblers are more likely to spend more and invest less, with the effects being felt most by those who are financially vulnerable.To make matters worse, a third study suggests that the way sports betting has evolved could make it one of the most addictive forms of gambling.Six years after gambling was legalized in the United States, it is time for policymakers…