Author: News Room

Like many online advertising companies, Pinterest (NYSE:PINS) has seen material impact to its fundamentals due to the tough macro backdrop. Whereas growth was expected to accelerate exiting 2022 due to lapping tough pandemic comps, growth has instead continued to decelerate as demand for advertising decreased. Yet unlike unprofitable rival Snapchat (SNAP), PINS entered this storm from a position of strength, with solid profit margins and a pristine balance sheet highlighted by $2.7 billion of net cash. The valuation is not as cheap as it has been over the past couple of quarters due to the involvement of activist investors, but…

Watch full video on YouTube

CryptoGPT, an Ethereum layer-2 solution dedicated to AI development, has raised $10 million in funding at a valuation of $250 million. The Series A round was led by DWF Labs, a leading digital asset market maker and multi-stage web3 investment firm, the company said in a Monday Twitter thread. “New funding at a $250M valuation from DWF Labs positions GPT both financially and strategically with the most established layer-2 developments in web3,” the company said. CryptoGPT is an Ethereum-based layer 2 that uses zkRollup technology, an off-chain method that relies on one party proving to another something is true, to achieve scaling. The company…

By Michael Erman and Ahmed Aboulenein (Reuters) -Executives from more than 300 biotech and pharmaceutical industry companies, including Pfizer Inc (NYSE:) and Biogen Inc (NASDAQ:), signed an open letter on Monday calling for reversal of a federal judge’s decision to suspend sales of the abortion pill mifepristone. A U.S. judge on Friday suspended the U.S. Food and Drug Administration’s 2000 approval of the drug, effectively banning sales while a case brought by anti-abortion groups before him continues in the Northern District of Texas. Last week’s ruling by Judge Matthew Kacsmaryk undermines the FDA’s authority, the letter’s authors wrote, adding that…

By Fergal Smith TORONTO (Reuters) – The Canadian dollar is set to rally over the coming year, after a period in which it consolidates its recent gains, as an expected slowdown in economic activity stops short of a hard landing for the economy, a Reuters poll showed on Wednesday. Since early March the Canadian currency has rallied about 3% against its U.S. counterpart as worries the global banking crisis would lead to a credit crunch eased and the U.S. dollar lost ground against a basket of major currencies. A surge this week in the price of oil, one of Canada’s…

By Ambar Warrick Investing.com — Oil prices rose on Tuesday as signs of a growing rebound in Chinese travel demand pushed up hopes of increased crude consumption this year, although anticipation of more cues on the U.S. economy this week kept broader gains limited. Reuters reported that to position for an expected rebound in travel demand this year, after the country relaxed most anti-COVID restrictions. A recovery in Chinese travel demand is expected to be one of the biggest drivers of crude consumption this year. But data showed on Tuesday that read weaker than expected in March, indicating that an…

© Reuters. FILE PHOTO: Solar panels from SunPower are installed on residential buildings at a model home display in the Eureka Grove neighborhood of Granite Bay, California, U.S., October 5, 2021. REUTERS/Nathan Frandino/File Photo By Nichola Groom (Reuters) – U.S. residential solar installers are bracing for a slowdown this year as California, the sector’s pioneer and biggest market, is days away from slashing a subsidy for panel owners that has underpinned more than a decade of explosive growth. The policy change, years in the making, will reduce the money credited to rooftop solar owners for sending excess power into the…

I have a “first-world” problem with a twist, and I could use your advice. I recently sold my rental townhouse for $325,000. It was already paid off without any encumbrances on the property. After paying the title transfer and capital-gains taxes of 15%, I have $309,000 in cash. Question 2 (the juicier question): How do you think I should best convince my wife that simply paying down our current mortgage is not the savviest of moves? That’s her knee-jerk “safe” response. She is very good with day-to-day finances and being a saver, but she leans more toward living below our…

Shareholders are urging Chipotle Mexican Grill Inc., which is facing accusations of union-busting behavior, to adopt a non-interference policy. The proposal on the proxy Chipotle CMG, +0.38% filed with the Securities and Exchange Commission on Monday mentions allegations of retaliatory firings, restaurant closures, captive audience meetings and the company’s hiring of anti-union consultants. The company’s board recommends a vote against the proposal. “Companies that treat their workers with respect should have no reason to oppose adopting a worker’s rights policy that adheres to internationally-recognized labor standards on freedom of association and collective bargaining,” said Brad Lander, the New York City…

Falling oil prices and fears about capital flight helped push the Russian ruble to its weakest level against the U.S. dollar in a year on Monday, the latest milestone in what has been a dramatic reversal of fortune for the currency. The ruble showed surprising resilience against the U.S. dollar last year despite Russia’s invasion of Ukraine, with the dollar falling 2.7% against the Russian currency in 2022. But a changing backdrop both at home and abroad has weighed on the ruble since the start of the new year, currency analysts and economists said. Since Jan. 1, the greenback has…