Rupert Murdoch stepping down as chair of Fox & News Corp

RGB Award Ceremony Canceled Amid Recipient Controversy

RGB Award Ceremony Canceled , Amid Recipient Controversy. Since 2019, the Dwight D. Opperman Foundation has presented accomplished women with the Justice Ruth Bader Ginsburg Leadership Award, NPR reports. . Previous recipients include Barbra Streisand and Queen Elizabeth II. This year, however, the foundation selected four men to receive the award, in addition to Martha Stewart. . This year, however, the foundation selected four men to receive the award, in addition to Martha Stewart. . Those men are Elon Musk, Rupert Murdoch, Michael Milken and Sylvester Stallone. Those men are Elon Musk, Rupert Murdoch, Michael Milken and Sylvester Stallone. Those men are Elon Musk, Rupert Murdoch, Michael Milken and Sylvester Stallone. Those men are Elon Musk, Rupert Murdoch, Michael Milken and Sylvester Stallone. Justice Ginsburg fought not only for women but for everyone, Dwight D. Opperman Foundation Chair Julie Opperman, via statement. Going forward, to embrace the fullness of Justice Ginsburg's legacy, we honor both women and men who have changed the world by doing what they do best, Dwight D. Opperman Foundation Chair Julie Opperman, via statement. Ginsburg's family condemned the foundation's recipient selection, NPR reports. . This year, the Opperman Foundation has strayed far from the original mission of the award and from what Justice Ginsburg stood for. , Jane Ginsburg, daughter of Ruth Bader Ginsburg, via statement. On March 18, foundation Chair Julie Opperman said that the April ceremony is now canceled. . This year we selected leaders in different fields. We honored men for the first time, Dwight D. Opperman Foundation Chair Julie Opperman, via statement. We thought RBG's teachings regarding EQUALITY should be practiced. We did not consider politics, Dwight D. Opperman Foundation Chair Julie Opperman, via statement. Opperman went on to say that the foundation will decide whether to continue after reevaluating its mission, NPR reports.

Key Federal Reserve Inflation Gauge Rose 2.8% in March

Key Federal Reserve Inflation Gauge , Rose 2.8% in March. According to Commerce Department data released on April 26. the personal consumption expenditures (PCE) price index, not including food or energy, rose 2.8% year-over-year in March. . That exceeded Dow Jones estimates of 2.7%, CNBC reports. . When also accounting for food and energy, the all-items PCE measure rose 2.7%, which was above the 2.6% estimate. Inflation reports released this morning were not as a hot as feared, , George Mateyo, chief investment officer at Key Wealth, via CNBC. ... but investors should not get overly anchored to the idea that inflation has been completely cured and the Fed will be cutting interest rates in the near-term, George Mateyo, chief investment officer at Key Wealth, via CNBC. The prospects of rate cuts remain, but they are not assured, and the Fed will likely need weakness in the labor market before they have the confidence to cut, George Mateyo, chief investment officer at Key Wealth, via CNBC. Consumers continue to spend despite higher prices, CNBC reports. Personal spending increased 0.8% in March, while personal income rose 0.5%. The personal saving rate dropped to 3.2% as more people are having to dip into their savings to cover the cost of living. The Fed continues to target 2% inflation, which the core PCE has exceeded for the last three years, CNBC reports.

Netflix Exceeds Earnings Estimates As Subscribers Increase

Netflix Exceeds Earnings Estimates , As Subscribers Increase. Netflix Exceeds Earnings Estimates , As Subscribers Increase. Netflix released a Q1 earnings report on April 18, indicating that its number of subscribers jumped 16% year-over-year to reach 269.6 million. Analysts only expected the streamer to have about 264.2 million subscribers, CNBC reports. . The company also brought in $9.37 billion in revenue versus analysts' expectations of $9.28 billion. . However, Netflix said that its membership numbers are no longer the main factor contributing to the company's growth. As a result, the company will stop providing "quarterly membership numbers or average revenue per user" beginning in 2025, CNBC reports. . Instead, it will divulge "major subscriber milestones as we cross them.". Price hikes, terminating password sharing and offering an ad-supported tier are all tactics that have boosted revenue. Netflix is also seeking to gain traction within the video game space and recently partnered with TKO Group Holdings to offer WWE on the platform. We’re in the very early days of developing our live programming and I would look at this as an expansion of the types of content we offer, the way we expanded to film and unscripted and animation and most recently games, Ted Sarandos, co-CEO of Netflix, via earnings call. We believe that these kind of event cultural moments like the Jake Paul and Mike Tyson fight are just that kind of television, and we want to be part of winning over those moments with our members as well, so that for me is the excitement part of this, Ted Sarandos, co-CEO of Netflix, via earnings call. As of the morning of April 18, Netflix's stock was up 27%

Google Fires Employees for Protesting Israel Contract

Google Fires Employees , for Protesting Israel Contract. 28 Google workers have been fired for protesting a $1.2 billion contract that the company has with the Israeli government and military to provide cloud and AI services, NBC News reports. . The firings follow an April 16 sit-in at Google's offices in California, New York and Seattle in which nine workers were arrested. The group that coordinated the demonstration is known as No Tech for Apartheid. . Google issued a statement about the recent firings. A small number of employee protesters entered and disrupted a few of our locations. , Google spokesperson, via statement. Physically impeding other employees’ work and preventing them from accessing our facilities is a clear violation of our policies, and completely unacceptable behavior. , Google spokesperson, via statement. We have so far concluded individual investigations that resulted in the termination of employment for 28 employees, and will continue to investigate and take action as needed, Google spokesperson, via statement. No Tech for Apartheid claims that the workers were fired "indiscriminately.". This excuse to avoid confronting us and our concerns directly, and attempt to justify its illegal, retaliatory firings, is a lie, No Tech for Apartheid, via statement. Meanwhile, many of Google's workers have reportedly quit after experiencing "mental health consequences of working at a company that is using their labor to enable a genocide," No Tech for Apartheid said. On a personal level, I am opposed to Google taking any military contracts — no matter which government they’re with or what exactly the contract is about. , Cheyne Anderson, a Google Cloud software engineer based in Washington who was arrested during a sit-in, to CNBC

Amazon Cuts Hundreds of Cloud Computing Jobs

Amazon Cuts Hundreds , of Cloud Computing Jobs. An Amazon Web Services (AWS) spokesperson issued a statement about the job cuts on April 3, CNBC reports. . We’ve identified a few targeted areas of the organization we need to streamline in order to continue focusing our efforts on the key strategic areas that we believe will deliver maximum impact, AWS spokesperson, via statement. We didn’t make these decisions lightly, and we’re committed to supporting the employees throughout their transition to new roles in and outside of Amazon, AWS spokesperson, via statement. Cuts are being made to the store technology division “as a result of a broader strategic shift in the use of some applications in Amazon’s owned as well as in third-party stores,” the spokesperson said. The layoffs come after Amazon announced that it was ending its Just Walk Out technology in Fresh stores. The cashierless technology is overseen by teams within the AWS unit. . Beginning in 2022, Amazon started its largest layoffs in history by letting go of 27,000 roles company-wide. . So far in 2024, the retail behemoth has cut jobs at Audible, Buy with Prime, Prime Video, MGM Studios and Twitch, CNBC reports. . This latest round of cuts will allow U.S. employees to collect pay and benefits for a minimum of 60 days. They will also be offered a severance package.

UPS to Become US Postal Service’s Main Air Cargo Provider

UPS to Become US Postal Service’s , Main Air Cargo Provider. On April 1, United Parcel Service announced that it will replace FedEx as the primary air cargo provider for the USPS, CNBC reports. . On April 1, United Parcel Service announced that it will replace FedEx as the primary air cargo provider for the USPS, CNBC reports. . FedEx is walking away from a 22-year partnership after failing to secure a better contract with the agency. . FedEx is walking away from a 22-year partnership after failing to secure a better contract with the agency. . In fiscal year 2023, USPS paid FedEx $1.73 billion for its services, down from the $2.4 billion FedEx received in fiscal year 2020. The decrease in payments was partially due to the postal service using more economical trucks in place of planes, CNBC reports. . The parties were unable to reach agreement on mutually beneficial terms to extend the contract, FedEx, via securities filing. Since FedEx will lose nearly $2 billion in annual business from letting go of the contract, . hundreds of pilots will likely lose their jobs, CNBC reports . Following the announcement, UPS shares increased 1.4% while FedEx stock dropped 1.6%. FedEx's current contract is set to expire on Sept. 29