Video shows workers at an Apple and Tesla planning in Shanghai clashing with security guards over fears of an onsite COVID lockdown

Workers at an Apple supplier in Shanghai are operating under a “closed loop” system where they work, live, eat, and sleep onsite.Qilai Shen/In Pictures via Getty Images Images Videos show workers at an Apple and Tesla planning in Shanghai clashing with quarantine officials. The workers were said to be frustrated with onsite COVID-19 measures. The … Read more

White House says 20 internet companies will provide effectively free internet to millions of Americans

The Biden administration announced Monday that 20 leading internet service providers have agreed to offer basic low cost plans that will be free for millions of Americans after a refund. The 20 companies, including AT&T (T), Comcast (CMCSA), and Verizon (vz), covering more than 80% of the US population. They will immediately provide at least … Read more

Stock Futures Fall as Bond Yields Edge Higher

US stock futures fell to start the week, indicating that major equity indexes could decline again following last week’s big swings. Futures for the S&P 500 declined 1.5%. Contracts tied to the technology-focused Nasdaq-100 fell 1.7% while those for the Dow Jones Industrial Average receded 1.2%. US government bonds sold off again, pushing the yield … Read more

Facebook Makes Changes to Respond to Slowing Growth

Facebook (FB) – Get Meta Platforms Inc. Class A Report is preparing for difficult days ahead. The social media giant has just taken steps to reduce its costs in anticipation of the slowdown in growth predicted by many economists. The firm, which renamed itself Meta Platforms last October, has just decided to change its hiring … Read more

Uber to cut down on costs, treat hiring as a ‘privilege’: CEO email

Above will cut back on spending and focus on becoming a leaner business to address a “seismic shift” in investor sentiment, CEO Dara Khosrowshahi told employees in an email obtained by CNBC. “After earnings, I spent several days meeting investors in New York and Boston,” Khosrowshahi said in the email, which was sent out late … Read more

Why the UK economy is one of the most vulnerable right now

George Clerk | E+ | Getty Images There’s an economic idiosyncrasy in the UK that makes it “one of the most vulnerable countries in the world right now,” according to an investment strategist. Mike Harris, the founder of Cribstone Strategic Macro, argues that a major problem for Britain is that its mortgage market is “heavily … Read more