WASHINGTON (AP) — The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated. The move comes amid a fraught time for the central bank, with hiring sluggish and yet inflation stuck above the Fed’s 2%…… MORE
AP Business Writer (AP) — In long-awaited cuts just months after completing its $8 billion merger with Skydance, Paramount has begun layoffs set to impact about 2,000 employees. Paramount initiated roughly 1,000 of those layoffs company-wide on Wednesday, according to a source familiar with the matter, who spoke on the condition of anonymity because they…… MORE
Starbucks reported better-than-expected revenue in its fiscal fourth quarter as its U.S. sales improved. The Seattle-based company said its net revenue rose 5% to $9.6 billion in the July-September period. That was better than Wall Street was expecting, according to analysts polled by FactSet. Starbucks’ global same-store sales rose 1% compared to the same period…… MORE
Nvidia has become the first $5 trillion company, just three months after the Silicon Valley chipmaker was first to break through the $4 trillion barrier. The ravenous appetite for Nvidia’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023. On Wednesday the shares closed at $207.04 with…… MORE
SAN FRANCISCO (AP) — Google’s corporate parent on Wednesday announced its first-ever quarter with more than $100 billion in revenue. The milestone illustrates the unwavering power of its internet empire amid legal and competitive threats. The news of Alphabet Inc.’s faster earnings growth comes on the heels of a court ruling in the U.S. Justice…… MORE