Facebook is the big loser of the fourth quarter’s advertising wars

Facebook, now Meta, has emerged as the fourth quarter’s biggest loser in the hotly contested advertising wars. Meta’s stock plummeted 26% Thursday after it revealed that it’s taking a big hit from Apple’s privacy changes, adding that it expects the feature to decrease the company’s 2022 revenue by about $10 billion. Facebook’s admission is the most concrete data pointContinue reading “Facebook is the big loser of the fourth quarter’s advertising wars”

Dow drops nearly 400 points in first loss of 2022, as traders brace for a more aggressive Fed

MARKETS Stocks fell sharply Wednesday, with the Dow Jones Industrial Average suffering its first decline of 2022, as Wall Street geared up for potentially tighter U.S. monetary policy. The blue-chip Dow Jones Industrial Average ended the day down 392.54 points, or 1.07%, at 36,407.11. The 30-stock average hit an intraday record earlier in the session.Continue reading “Dow drops nearly 400 points in first loss of 2022, as traders brace for a more aggressive Fed”

Goldman says oil could hit $100, demand might reach ‘new record high’ in the next two years

Goldman Sachs predicts a new high in oil demand in 2022, and again in 2023. Damien Courvalin, the investment bank’s head of energy research, also said Friday that oil at $100 per barrel was a possibility. Oil demand was already at record levels before the latest omicron variant hit, and furthermore, demand for air travelContinue reading “Goldman says oil could hit $100, demand might reach ‘new record high’ in the next two years”

Omicron outbreak is unlikely to save Canadians from interest rate hikes next year

As Canada’s federal government prepares for another encounter with COVID-19, Canadian borrowers must face a second hazard: the prospect of a sharp rise in interest rates in 2022. While the world’s most powerful central banker, Jerome Powell, warned on Wednesday that a new variant capable of smashing through vaccine defences could check the U.S. Federal Reserve’s plans to cut stimulus,Continue reading “Omicron outbreak is unlikely to save Canadians from interest rate hikes next year”

‘Money is running out’: Financial stress drives retirees back to work

After more than a decade in retirement, Gregory Boulware went back to work in 2020. Boulware, 69, was a truck driver for about 30 years, spending long hours on the road, away from his Pennsylvania home and his wife and kids, to make a living and put away some savings. His body started to sufferContinue reading “‘Money is running out’: Financial stress drives retirees back to work”