Author: admin

Meta’s Ad Revenue Slowdown Fuels First-Ever Quarterly Revenue Decline

Meta (Facebook) reported its first-ever quarterly revenue decline on Wednesday, as ad revenue growth slowed. The company’s revenue for the quarter was $27.9 billion, down 1% from the same period a year ago. Net income was $6.7 billion, down 36% from the same period a year ago. Meta’s ad revenue grew 15% in the quarter,… Read more »

US Inflation Cools in October, but Fed Likely to Keep Raising Rates

US inflation slowed in October, but remained high, putting pressure on the Federal Reserve to continue raising interest rates. The Consumer Price Index (CPI), which measures the prices of a basket of goods and services, rose 7.7% in October from a year ago. This was down from 8.2% in September, but still well above the… Read more »

Bitcoin and Ethereum Prices Plunge as Crypto Market Remains Volatile

The cryptocurrency market remains volatile, with Bitcoin and Ethereum prices falling sharply in recent weeks. Bitcoin, the world’s largest cryptocurrency, has fallen by over 50% since its all-time high of nearly $69,000 in November 2021. Ethereum, the second-largest cryptocurrency, has fallen by over 60% since its all-time high of over $4,800 in November 2021. The… Read more »

Big Banks Post Strong Profits in Q3, Fueled by Rising Rates and Loan Growth

JPMorgan Chase, Wells Fargo, and Citigroup reported strong third-quarter profits on Wednesday, driven by higher interest rates and loan growth. JPMorgan Chase’s net income rose 35% from a year ago to $13.15 billion, beating analyst expectations. Wells Fargo’s net income jumped 29% to $6.21 billion, also beating expectations. Citigroup’s net income climbed 25% to $4.8… Read more »