Business Update – November 23, 2022
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
Bob Iger returns to steer Disney through tough economic times
The former CEO has agreed to serve another two years for the company effective immediately. Disney highlighted a fivefold market value increase under his leadership, adding that he had a “mandate from the board to set the strategic direction for renewed growth.”
Goldman Sachs says bear market will last well into 2023
Goldman Sachs strategists anticipate that the recent stock market rally will soon come to an end, saying that the conditions for an equity trough have not yet been reached.
Coinbase and Bitcoin slide
Following the spectacular fallout of FTX earlier this month, various cryptocurrencies are losing value across the board.
Tech layoffs aren’t a sign of things to come for all industries
Analysts at Morgan Stanley say they are doubtful that the mass layoffs in the tech sector this month are a harbinger of change for the wider labor market.
What’s going on with the student loan forgiveness program?
A number of lawsuits have been filed against the student loan forgiveness program, leaving borrowers in limbo while they wait for them to move through the courts.
Money tips for millennials to make themselves recession-proof
Insider rounded up four things millennials with full-time jobs should do during these tough economic times. Learn what they are here.
Is Twitter over?
BBC tech editor Zoe Kleinman presents some ideas for where the social media giant is headed and provides an overview of the rocky road the company’s been on since Elon Musk’s takeover.
Elizabeth Holmes sentenced to over 11 years in prison
Theranos founder and former CEO Elizabeth Holmes was sentenced to 11.25 years in federal prison last week after being convicted of fraud in January.
Security summit to protect against identity theft
The IRS and state tax agencies announced a special week to focus on empowering taxpayers to protect sensitive financial information against identity thieves as the holidays and the 2023 tax season get closer. Details can be found here.
Sense of humor or trademark infringement?
The Supreme Court will hear a dispute between Jack Daniel’s and dog toy manufacturer Bad Spaniels. The latter is producing a squeaky, plastic dog toy that bears a striking resemblance to the iconic whiskey brand.
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