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Wall St. loses more than $200 billion in value following a report by Amazon

After a weak forecast by Amazon (AMZN.O), and a series of negative quarterly reports from Big Tech companies, over $200 billion was added to the U.S stock market’s value in extended trade on Thursday. Amazon stock plunged 17% following the bell. This wipes out $190 billion of market capitalization. The retail and technology heavyweight had …

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Skechers executives assist Kanye West to leave the building, company reports

Skechers, an athletic shoe company, stated Wednesday in a statement that two of its executives took Kanye West from one of its Los Angeles buildings. According to the company, West arrived unannounced and was not invited. He was then escorted away “after a brief discussion.” The company stated Wednesday that Skechers was not interested in …

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Meta’s stock drops 17% after its quarterly profit is reduced by half

Meta posted Wednesday its second-quarter revenue decline since it went public. It warned that it is making “significant” changes to reduce costs before 2023 as it faces an economic downturn that has impacted its core online advertising business. Meta (FB), which posted revenue of $27.7B for the three months ending in September, was down 4% …

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Recession fears are causing Google’s core business to slow down

Google is the world’s largest digital advertising company, but it isn’t immune to the effects of the recession and economic downturn on the online advertising market. Alphabet, Google’s parent company (GOOGL), reported Tuesday earnings results for the third quarter. Wall Street analysts had expected a decline in sales and profits due to a slowdown in …

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“Everything is costly”: Seniors are forced to cut back on socializing, and eat less as inflation hits

Talking about inflation strikes a chord at the Senior Friendship Center, Sarasota (Florida), really strikes a chord. Seniors on fixed incomes at a card table discussed the pressures that came from the steep price increases over the past year. Katherine Janes, 81 years old, stated that she needed financial help from her son. Janes stated, …

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