Netflix lays off 300 employees in second round of job cuts

Netflix Inc. announced a layoff of about 300 people on Thursday, its second significant staff reduction in recent weeks. “Today we sadly let go of around 300 employees,” a Netflix NFLX, -0.22% spokesperson told MarketWatch. “While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in … Read more

Disney is seeing ‘resilient’ theme-park attendance despite turbulent economy, says analyst

In the face of turbulent economic times, Walt Disney Co.’s theme-park business could still see some magic. Bank of America’s Jessica Reif Ehrlich wrote Thursday that attendance at Disney DIS, -0.43% parks “remains resilient despite recent macro volatility as visitors rarely cancel trips once booked.” She added that the company move to cancel Disneyland annual … Read more

FactSet Research 3Q Profit Falls on Real-Estate Charges

By Will Feuer FactSet Research Systems Inc. posted a lower fiscal third-quarter profit despite higher sales, as charges tied to trimming the company’s real-estate footprint in the age of hybrid work took a toll. The Norwalk, Conn.-based company, whose offerings include analytics and data products, said net profit was $ 74.9 million for the quarter … Read more

The US housing market is teetering on recession. Will the economy soon follow?

The last time the housing market suffered a major meltdown in 2006, it took the entire US economy with it. But history never follows the exact same script twice. The weakening housing market is undoubtedly going to hurt the economy. Single-family home construction fell to a 1 million annual pace rate in May from a … Read more

Fed looks ‘dead set’ on tightening financial conditions until the economy slows, warns BlackRock

The Federal Reserve’s battle to get inflation down from a 40-year high probability means it will raise interest rates until the US economy slows, strategists at the BlackRock Investment Institute warned on Tuesday. “The Fed seems dead set on raising rates this year to levels that, in our view, would clearly slow the economy,” Jean … Read more

Stock market set for worst half-year performance since 1932. Recession threat will dictate 2nd half: Deutsche Bank

The S&P 500 officially hit bear market territory last week and, according to Deutsche Bank, is currently on track for its worst half-year performance since the Great Depression. With the large-cap benchmark SPX, + 2.57% having shed around 22.3% so far in 2022, strategists the bank see the remainder of the year hinging on whether … Read more

School districts, hospitals are in the housing business and becoming landlords

“I never thought I’d be doing this,” said Randi Lowe as she reviewed a spreadsheet of southern Vermont homes available for rent or sale. Lowe isn’t in the real estate business – she’s the superintendent of a Vermont public school system. But for the past few months, she and her staff at the Bennington-Rutland Supervisory … Read more

ODP Shares Lower After Board Elects to Retain Consumer Business

By Michael Dabaie ODP Corp. shares fell 14% to $ 30.20 after the business services and supplies company said it won’t divest or separate its consumer business. ODP’s board in January delayed an announced separation to evaluate a potential sale of its consumer business. ODP said it completed a review of public and private non-binding … Read more

Three alternatives to a small-business loan

Banks and credit unions tend to offer the most affordable business financing – if your business can qualify. Only a fraction of small-business loan applications are approved, and this disparity is getting worse. According to the Federal Reserve’s 2022 Small Business Credit Survey, approval rates from both small and large banks declined from 2019 to … Read more

Why stock-market investors are ‘nervous’ that an earnings recession may be looming

Investors are anxious in the stock market may be facing an earnings recession, potentially leading to deeper losses after the S&P 500 index just suffered its worst week since March 2020. “It’s pretty clear that earning estimates are probably going to come down after rising since the first of the year,” said Bob Doll, chief … Read more