Restaurant management software provider, Toast, delivered a bittersweet announcement on Thursday, declaring that it will be parting ways with 550 employees, equating to approximately 10% of its workforce. However, the company managed to surpass Wall Street’s expectations with its fourth-quarter earnings report. The tech industry has witnessed numerous companies implementing layoffs in 2024, primarily attributing
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In a significant development, Special Counsel Jack Smith has requested the Supreme Court to reject former President Donald Trump’s emergency application that sought to further delay his criminal trial. The trial, which arises from Trump’s efforts to overturn the 2020 election, is a matter of utmost importance. Smith filed his response to Trump’s request well
The issue of “shrinkflation” has garnered significant attention in recent months, prompting President Joe Biden to address the matter directly on Super Bowl Sunday. Shrinkflation refers to the practice of reducing the size or quantity of consumer products while maintaining or even increasing their prices. This deceptive tactic has left many Americans feeling disgruntled and
In a surprising turn of events, Wish, the once-valued $14 billion e-commerce platform, has recently announced its acquisition by Singapore’s Qoo10 for a mere $173 million in cash. This staggering decrease in value highlights the challenges faced by e-commerce companies in maintaining sustainable growth. Founded in 2010 and based in San Francisco, Wish gained popularity
The upcoming release of the consumer price index (CPI) has the potential to sway the stock market, and investors are closely watching the outcome. JPMorgan’s traders suggest that the January CPI will continue the trend of easing inflation. Economists anticipate a 0.2% increase last month, and a 2.9% rise from the year-ago period. Core CPI,
Mitch Landrieu, the campaign national co-chair for President Joe Biden, responded to worries raised by Special Counsel Robert Hur regarding Biden’s alleged mental deterioration. In an interview on NBC’s “Meet the Press,” Landrieu dismissed comparisons between Biden and former President Donald Trump’s investigations into mishandling of classified documents, stating that they are not even remotely
The direct-to-consumer (DTC) boom, once hailed as the future of retail, is now facing its own reckoning. In the past decade, DTC companies such as Allbirds, Warby Parker, Rent the Runway, and ThredUp emerged as disruptors, leveraging social media ads and online shopping to gain traction. With the support of billions in venture capital funding,
Pinterest, the popular visual discovery platform, experienced a significant drop in its stock shares following the release of a weaker-than-expected forecast and disappointing revenue. Despite a rebound after announcing a new partnership with Google, the company is facing challenges in monetizing its platform and expanding its international sales. In its latest earnings report, Pinterest reported
Credit card debt in America has reached an alarming new high, soaring to $1.08 trillion, according to a report by the Federal Reserve Bank of New York. This represents a significant 10% increase from the previous year. In addition, the average balance per consumer has hit a historic record of $6,360. The surge in credit
The online advertising market is experiencing a rebound, but the spoils are not being evenly shared. The latest earnings reports from social media giants Meta (formerly Facebook) and Snap reveal a stark contrast in their advertising growth. Meta’s ad business, which includes Facebook and Instagram, experienced a remarkable 24% growth from the previous year, positioning