samsung

Samsung's operating profit dropped over 95% for the three months ending in March, resulting in the lowest profit output since 2009

Bloomberg Samsung's operating profit dropped by over 95% for the three months ending in March. This comes as the company has announced that it experienced its lowest profit output since 2009. Due to this, the company said it would scale back on chip production. The company said it

tax

IRS plans to use $80 billion new funds to hire 30,000 employees over two years

Per Reuters The Internal Revenue Service has announced plans to expand its workforce by tapping into its $80 billion new funds budget. In two years, the agency plans to expand its workforce to 30,000 workers. The $80 billion budget was directed toward the IRS' customer service and tax

Justin Trudeau’s plan to add billions of dollars in new annual spending has some economists worried that Canada is at risk of racking up unsustainable debt

Justin Trudeau’s plan to add billions of dollars in new annual spending has some economists worried that Canada is at risk of racking up unsustainable debt. Coupled to that, Bloomberg notes Canada’s population growth from immigration is causing rents to surge in its biggest cities, per Bloomberg. They

treasury

US Treasury gives DeFi warning, saying it poses 'the most significant current illicit finance risk'

Per Coin Desk The US Treasury has released its "2023 DeFi Illicit Finance Risk Assessment" and gave its two cents regarding DeFi. The post discussed the risks that could be associated with decentralized finance. Brian Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence, gave a

chatgpt

Researchers pinpoint a specific group of people to especially be impacted by ChatGPT: college graduate, tech worker, and $80,000 earner

OpenAI and University of Pennsylvania researchers conducted a survey and found that the group ChatGPT could have the most impact. They highlighted that this could be college graduates working in tech, earning up to $80,000 annually. The researchers were studying how GPT-4 would affect the American workforce by

google

Google's Bard AI program used Microsoft's & OpenAI's ChatGPT data, per Google AI researcher that resigned

Per The Information Google's Bard AI program reportedly used data from Microsoft and OpenAI's ChatGPT. This was according to a Google AI researcher who decided to resign after warning Alphabet CEO Sundar Pichai and other senior executives. OpenAI's ChatGPT has already raised eyebrows for

mortgage

Monthly mortgage vs. rent sees the largest gap since 2006, the peak of the housing bubble

Per Business Insider The difference between paying mortgage compared to rent has seen its largest gap since 2006, which was around the peak of the housing bubble. This peak eventually led to the Great Financial Crisis, which saw multiple bankruptcies, foreclosures, and banks collapsing. The National Multifamily Housing Council, which

twitter

White House won't pay for Blue verification on Twitter

Per Axios Since Elon Musk's acquisition of Twitter for $44 billion, the new CEO has made massive changes to the platform. One is the decision to charge users for the Blue verification, meaning former verified individuals would need to pay to keep their verification. Now, the White House

Money market funds are the "next bubble," per Bank of America, $BAC

Money market funds are the "next bubble," per Bank of America, $BAC: Total assets held in money-market funds, which are investment vehicles that buy cash-like securities such as short-term Treasury bills, recently reached close to $5.5 trillion, according to RBC. That is the highest

Zillow Chief Economist Skylar Olsen has said that short-term strategies like home-flipping won't work anymore

Zillow Chief Economist Skylar Olsen has said that short-term strategies like home-flipping won't work anymore, per BI. Meanwhile, in November, nationwide, households need six-figure incomes to comfortably afford the typical home for sale, according to a report by Redfin. Last month, the nation’s home

Marjorie Greene has said: We should go back to the gold standard, not digital currency payment systems.

Marjorie Greene has said: We should go back to the gold standard, not digital currency payment systems. This is following discussions of CBDC in the US. Notably, as well, on the global scale, Saudi Arabia has joined a China-led security bloc and trade alliance with China, Russia, India, Pakistan

gen z

Gen Z has started to use more flip phones to limit screen time

Per CNBC As technology becomes more accessible, more Gen Z starts to gravitate towards the use of flip phones. Aside from hopping on the new "vintage" tech trend, they are also trying to limit their screen time. The type of phones being used in this trend is flip

vr

Only 4% of VR American teen owners use it daily, with most of them not excited

Per CNBC A Piper Sandler survey found that most Americans weren't too excited about Virtual Reality. While 87% of participants owned iPhones, only 29% owned a VR device. 88% of American teens noted that they wanted their next phone to be an iPhone.   The study found that only

bill gates

Bill Gates says Elon Musk's and researcher's call to pause AI development won't 'solve the challenges'

Per Reuters Previously, Elon Musk and other researchers have called for a pause on AI development for technologies like GPT-4 and more advanced. Now, Microsoft co-founder Bill Gates has commented on the requests saying pausing development isn't the solution. Gates: “I don’t think asking one

walmart

Walmart wants two-thirds of stores to be automated by 2026 to improve costs per unit by about 20%

Per Fox Business Walmart is planning a huge automation drive for the majority of its stores. By 2026, the retailer giant wants 65% of its stores to be serviced by automated supply chains to improve costs per unit by about 20% potentially. The company's press release revealed its

small business

Small businesses bankruptcy rate beats peak pandemic levels

Per BI While the peak of the pandemic saw multiple small businesses file for bankruptcy, that rate of them filing for bankruptcy was taken over by current numbers. At the pandemic's peak, the four-week moving average was just 4.5% in June 2020, but in late February,

Donald Trump: Our currency is crashing and will soon no longer be the world standard, which will be our greatest defeat, frankly.

Donald Trump said today: Our currency is crashing and will soon no longer be the world standard, which will be our greatest defeat, frankly. Former President Donald Trump has been charged with 34 felony counts of falsifying business records in connection with a scheme that directed hush money payments to

Staplers and tape are no longer being provided to employees at Google, $GOOGL, print stations companywide as part of a cost effectiveness initiative

Staplers and tape are no longer being provided to employees at Google, $GOOGL, print stations companywide as “part of a cost effectiveness initiative,” per CNBC. “We’ve been here before,” the email stated in Google. “Back in 2008, our expenses were growing faster than our revenue. We improved machine utilization,

Trigger for Saudi oil production cut was the comment that the U.S. would not refill its strategic petroleum reserves this year

Trigger for Saudi oil production cut was the comment that the U.S. would not refill its strategic petroleum reserves this year, per MarketWatch. OPEC+ announced a surprise oil production cut of more than 1 million barrels a day, over the weekend. Saudi Arabia led the cartel by pledging its

Malaysia and China to discuss ‘Asian Monetary Fund’ to reduce dependence on US Dollar

Malaysia and China to discuss ‘Asian Monetary Fund’ to reduce dependence on US Dollar, per Bloomberg. Last week, China and Brazil reached a deal to trade in their own currencies, ditching the US dollar as an intermediary. "The expectation is that this will reduce costs... promote even greater bilateral

U.S. pledges another $2.6 billion in weapons aid to Ukraine

U.S. pledges another $2.6 billion in weapons aid to Ukraine. Last week, the Pentagon announced another $350 million in military aid for Ukraine. The Kremlin previously released warnings about the West getting involved with the conflict in Ukraine. Notably, the Pentagon is planning to invite Ukraine troops to

Trump has been indicted on 34 accounts

Former President Donald Trump is charged with 34 felony counts of falsifying business records in connection with a scheme that directed hush money payments to two women before the 2016 presidential election, per CNBC. Prosecutors also said a Trump-friendly publishing company, American Media Inc., paid $30,000 to a

Tesla, $TSLA, will go after the Wall St short-sellers, certain law firms & (sometimes) corrupt regulators who are the true evil

Elon Musk has said: Tesla, $TSLA, will "go after the Wall St short-sellers, certain law firms & (sometimes) corrupt regulators who are the true evil." In February, it was announced that Tesla was building a legal team. They added , Brandon Ehrhart, joins the company as it continues

finland

Finland is now the 31st member of NATO

Per CNN Finland officially joined the North Atlantic Treaty Organization (NATO) in a ceremony held at the Brussels NATO headquarters. Antony Blinken, US Secretary of State, was in attendance. Other people in attendance include Jens Stoltenberg, NATO Secretary General, as the accession of Finland was established by Pekka Haavisto, Minister

tech layoffs

2023 tech layoffs surpassed 2022 numbers

Per LayoffFYI Data on Layoffs.fyi showed that tech layoffs in 2023 have surpassed 2022 numbers. As of press time, 2022 had a total of 164,441 layoffs, but now, 2023 saw 167,004 layoffs in the first four months of the year. Another interesting comparison was that the 2022