By Howard Schneider
COLUMBIA, South Carolina (Reuters) - The current level for the Federal Reserve's benchmark interest rate should cool the economy enough to return inflation to the central bank's 2% target, with the strength of the job market giving officials time to wait, Richmond Fed President Thomas Barkin said on Monday.
"I am optimistic that today’s restrictive level of rates can take the edge off demand in order to bring... (continue reading...)
(Reuters) - Video streaming services saw a drop in downloads and active users during April, a research note by Bank of America showed on Monday, citing data from Sensor Tower, likely pressured by heated competition in the segment and an uncertain economic outlook.
Across all video streaming services, including Netflix, Paramount and Walt Disney, downloads and monthly active users (MAU) declined 4% in aggregate, according to the note.
WHY... (continue reading...)
CAIRO (Reuters) -Hamas said on Monday that it had accepted a Gaza ceasefire proposal from Egypt and Qatar.
The Islamist faction said in a statement that its chief, Ismail Haniyeh, had informed Qatar's prime minister and Egypt's intelligence chief of its acceptance of their proposal.
There were no immediate details over what the agreement entailed.
(Reporting by Nidal Al Maghrabi; writing by Hatem Maher; Editing by Alex Richardson)
(Reuters) -Electric-vehicle maker Tesla has laid off staff from the software, service and engineering departments, tech publication Electrek reported on Monday, citing sources familiar with the matter.
The move comes after the Elon Musk-led automaker disbanded its EV charging department following Tesla's announcement last month that it was reducing its global workforce by more than 10%.
Employees at the automaker received emails over the... (continue reading...)
Analysts at Morgan Stanley and Mizuho are becoming more bullish on a certain semiconductor chip stock, with one saying it is now their "favorite long in all tech."
An analyst at Mizuho said Silicon Motion (NASDAQ: NASDAQ: SIMO) is now his favorite name in tech for the time being, stating that the set-up into the second half of this year and is "looking excellent for real alpha generation."
The firm notes that SIMO has generated positive free cash flow over the last four... (continue reading...)
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