global economy

Shares of Starbucks surged more than 9% on Thursday after the company announced better-than-expected Q4 earnings. Despite facing some challenges in recent years, Starbucks has proven to be nearly recession-proof, with its coffee-loving customers remaining loyal even during tough times. The company reported $9.38 billion in revenue for the quarter, surpassing Wall Street’s predictions, and […]

The FTC has released new documents as part of its antitrust probe into Amazon. The documents reveal that Amazon intentionally packed search results pages with irrelevant ads. Amazon also pressured third-party sellers to offer products at lower prices on its platform. The documents also mention a secret algorithm called “Project Nessie” that Amazon used to

When Algorithms Collide: Washington, DC Sues Landlords, RealPage in Alleged Rent-Fixing Scheme Antitrust issues related to the use of algorithms are beginning to shake up the real estate industry. Washington, DC Attorney General Brian Schwalb has filed a lawsuit against property management software maker RealPage and 14 commercial landlords, accusing them of colluding to raise

Key Points: The U.S. House of Representatives has elected a new speaker, Mike Johnson, a Republican from Louisiana. While this may seem like good news, Johnson comes with some controversial baggage. He is known for being a creationist and for his involvement in efforts to overturn the 2020 presidential election. Despite this, Johnson has promised

The Guardian newspaper has submitted a complaint to Microsoft regarding an inappropriate AI-generated poll featured next to one of their articles. The poll asked readers to vote on what they believed caused the death of a 21-year-old woman who was found dead with severe head wounds at a school in Australia. The Guardian’s parent company,

In a not-so-happy turn of events for Wall Street bankers, it looks like their year-end holiday bonuses will be less than stellar this year. The year has been marked by slower deal flow, especially in the equity capital markets (ECM), leaving bankers with lower-than-expected compensation packages. Bonus Points For ECM bankers, 2023 has been a

Key Points: Who isn’t playing the China card in Europe? The answer is Norsk Hydro, a major aluminum producer. While the price of aluminum has seen some improvement in recent months, it is still far below its peak in early 2022. In the midst of this, Hydro faced additional challenges when it closed a smelter

Key Points: Tight Housing Market Puts Pressure on Homebuilders Millennials are finding it increasingly difficult to break into the housing market due to high prices that reflect a nationwide housing shortage. However, homebuilders are also facing their own set of challenges as they struggle to build homes amidst rising costs and inflation. According to a