Netflix founder Reed Hastings is giving up his CEO role
Hastings co-founded Netflix in 1997. Ted Sarandos was promoted to co-CEO alongside Hastings in July 2020.
Financial News
Apple is the only tech giant that still hasn’t announced layoffs — these charts may explain why
The tech giants went on a hiring spree over the last few years, with one exception.
Kissinger backs Ukraine’s NATO membership, says Russia needs the opportunity to rejoin international system
The former U.S. secretary of state also told the World Economic Forum that the West should continue to engage in talks with Russia.
As China reopens and data surprises, economists are starting to get less gloomy
After China’s reopening and a deluge of positive data surprises, economists are upgrading their previously gloomy outlooks for the global economy.
Op-ed: Oil CEO Sultan Al Jaber is the ideal person to lead the UN climate conference this year
Some climate activists were aghast when the UAE named the CEO of the Abu Dhabi National Oil Company (ADNOC) as president of this year’s COP 28.
Brian Moynihan says Bank of America expects ‘mild recession’ and is preparing for worse
The CEO’s statement mirrors the earnings report for JPMorgan Chase, whose economic outlook calls for “a mild recession in the central case.”
U.S. will hit its debt limit Thursday, start taking steps to avoid default, Yellen warns Congress
Treasury Secretary Janet Yellen wrote House Speaker Kevin McCarthy, “It is unlikely that cash and extraordinary measures will be exhausted before early June.”
Consumer prices fell 0.1% in December, in line with expectations from economists
The consumer price index was expected to decrease 0.1% on a monthly basis and increase 6.5% from a year ago in December, according to Dow Jones.
The West’s oil war against Russia is starting to take its toll — sparking calls for tougher measures
Russia’s revenue from fossil fuel exports collapsed in December, according to a new report, hampering Moscow’s ability to finance the war in Ukraine.
Powell says Fed might have to make unpopular decisions to stabilize prices
The central bank leader noted that stabilizing prices requires making tough decisions that can be unpopular politically.