On Wire

Breaking news, updates, and reports on current events.

Google CEO defends job cuts in animated town hall as employees demand clarity on process

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https://www.cnbc.com/2023/01/23/google-ceo-defends-layoff-process-in-heated-town-hall-monday.html Pichai said he consulted with the founders and controlling shareholders, Sergey Brin and Larry Page, as well as the board of directors. Pichai said 2021 marked “one of the strongest years we’ve ever had in the history of the company,” with 41% revenue growth. Google increased head count to match that expansion, and Pichai … Read more

Las Vegas Judge Commits Suicide After Facing Ethics Probe For Demanding An Investigation Into Alleged Sex Trafficking Ring

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A former Las Vegas Judge committed suicide a year after she resigned from her position after facing an ethics investigation. Per the Clark County coroner’s office, Judge Melanie Andress-Tobiasson died of a self-inflicted gunshot wound. According to Andress-Tobiasson, she resigned in an attempt to avoid a complicated ethics investigation that started when she attempted to … Read more

China slams US over ‘catastrophic’ debt Beijing has urged Washington to conduct responsible monetary policy to avoid a default on payments

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China slams US over ‘catastrophic’ debt Beijing has urged Washington to conduct responsible monetary policy to avoid a default on payments China has rebuked the US for its brinkmanship over the nation’s “catastrophic debt problem” as Washington approaches a statutory debt ceiling this week that could see the country defaulting on its obligations. The criticism … Read more

US January S&P Global flash manfacturing PMI 46.8

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Manufacturing 46.8 vs 46.0 expected Prior was 46.2 Services PMI 46.6 vs 45.0 expected Prior services 44.7 Composite 46.6 vs 44.6 prior New orders declined, led by manufacturing Cost burdens increased for the first time in eight months Backlogs of work fell Business optimism hit a four-month high This is a better reading but below … Read more

Winter Is Coming! Richmond Fed Outlook Declines To -11 As Philly Fed Outlook Down To -8.9 And NY Empire State Outlook Down To -32.9 (US 10Y-3M Yield Curve Inverts To -126.5 Basis Points)

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by confoundedinterest17 Three regional Fed reports I like to watch are New York’s Empire State Outlook, Philly Fed’s Outlook and Richmond Fed’s outlook. Today, The Richmond Fed released their manufacturing outlook and … it declined to -11. So the big three are all down (Philly down to -8.9 while NY’s Empire State outlook is down … Read more

Stock Market Rigged – Newyork Exchange Gets Wave Of Sell Orders, Briefly Unleashing Stock-Market Chaos

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Seems like no one is talking about this ? wtf They basically shut down the market when people started putting orders for sell. https://www.chicagobusiness.com/finance-banking/glitch-causes-nyse-stock-chaos At least 40 S&P 500 Index stocks were hit with trading halts, according to data compiled by Bloomberg. Other impacted shares included the likes of Walmart Inc. and McDonald’s Corp. These … Read more

Paul Krugman: Inflation Appears to Be Mostly a Myth, Transitory and Behind Us, as Long as You Remove Food, Energy, and Shelter

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Oh, and the "government spending creates inflation" trope kind of missed its moment, with the 2021-22 inflation surge looking, um, transitory 5/ pic.twitter.com/UjN3E7C5rS — Paul Krugman (@paulkrugman) January 22, 2023 We'll get more data in the weeks ahead, but at this point the burden of proof lies on anyone claiming that we had more than … Read more

WAY OVERDUE: DOJ Sues Google alleges Digital Ad Monopoly Seeks to Break Up Unit

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via breitbart: WASHINGTON (AP) — The Justice Department and several states sued Google on Tuesday, alleging that its dominance in digital advertising harms competition. The government alleges that Google’s plan to assert dominance has been to “neutralize or eliminate” rivals through acquisitions and to force advertisers to use its products by making it difficult to … Read more

The Fed Has Two Jobs Right Now

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by Chris Black (1) The WEF has told them to destroy the US economy, and (2) the BIS has told them save the banking system. QT will accomplish (1) and cutting rates will accomplish (2). Mystery solved. "Rate Cuts *And* QT?" https://t.co/c5gDuzzJnH — zerohedge (@zerohedge) January 24, 2023

I Sincerely Hope You’re Not Falling For This

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By Graham Summers, MBA The longer I’m in this business, the clearer it becomes that no one actually reads anymore. Everyone simply trumpets headlines, or retweets articles, without looking at the data. The latest and most glaring example of this is the claim that “inflation has peaked.” Everywhere you look in the media (and on … Read more