Layoffs usually arouse concern and sympathy for affected employees, but rarely does anyone talk about what happens to employers who are sometimes asked to leave when companies decide to cut headcount. In fact, tech companies cut up to half their hiring teams when they were laying off people in droves in 2022 and 2023. Paraform, a recruiting platform targeting startups, feels there is an opportunity to tap into the pool of laid-off recruiters who have since branched out to start their own businesses, helping startups source talent and access a broader talent network. To fund this effort, the company recently…
Author: ricardofrancois
Traders work on the floor of the New York Stock Exchange on April 1, 2024.Brendan McDiarmid | ReutersUS stock futures rose on Monday, rebounding from last week's strong sell-off. Goldman Sachs Profits and hopes that the conflict in the Middle East will not escalate further.Futures contracts are linked to the Dow Jones Industrial Average It rose 220 points, or 0.6%. Standard & Poor's 500 And Nasdaq-100 futures By 0.5% and 0.6%, respectively.Iran launched drones and missiles at Israel on Saturday evening, in the first direct attack on Israel from Iranian territory. While the majority of threats have been intercepted, fears…
Freetrade logo on smartphone screen.Rafael Henrique | soba pictures | Rocket Lite | Getty ImagesBritish stock trading app Freetrade broke even earlier this year, marking its first-ever move into the black after posting full-year losses in 2023, the company told CNBC.Freetrade reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of £100,000 ($124,863) in the first quarter of 2024, according to unaudited financial statements shared with CNBC.Pro forma revenue was £6.7 million in the quarter.Free Trade still makes a loss of £8.3m in 2023, down from the £28.8m loss it made the previous year. Revenues rose to £21.6m last…
Disgraced R&B singer R. Kelly was once worth hundreds of millions of dollars but is now serving up to a life sentence in federal prison.After decades of sexual assault allegations and acquittals on child pornography charges, the docuseries “Surviving R. Kelly” gave a voice to his accusers and helped bring down the singer. Within six months of its broadcast, Kelly was facing federal trial in New York. He was convicted not only of sex trafficking, but also of racketeering – charges that determined that a person's “enterprise” was being used to carry out criminal conduct.Sean “Diddy” Combs now faces a…
American Heart Association. They are called “game changers.”Oprah Winfrey says it's a “gift.”Science magazine selected them as “Best Achievement of 2023”.Americans are most familiar with their brand names: Ozempic, Wegovy, Mounjaro, and Zepbound. They are the drugs that revolutionized weight loss and raised the possibility of reversing the country's obesity crisis.Obesity, like many diseases, disproportionately affects people from racial and ethnic groups that have been marginalized by the U.S. health care system. A class of drugs that succeed where many others have failed appears to be a powerful tool to fill the gap.Instead, doctors who treat obesity, and the serious…
Social media startup ShareChat's valuation has fallen to less than $2 billion from about $5 billion after a new funding round, a source familiar with the situation told TechCrunch, marking a sharp decline for the nine-year-old Indian startup that has more than 400 million users in the world. South Asia market. The Bengaluru-based startup, which runs a popular social network that supports dozens of Indian languages as well as a short video app, announced on Monday that it has raised $49 million in a convertible round. It did not reveal the valuation at which the money was raised, but it…
TOPSHOT – The Apple iPhone 15 series is on sale at The Grove Apple retail store on release day in Los Angeles, California, on September 22, 2023. (Photo by Patrick T. Fallon/AFP) (Photo by Patrick T. Fallon/AFP via Getty Images)Patrick T. Fallon | AFP | Getty Imagesapple iPhone shipments fell nearly 10% globally in the first quarter of 2024, under pressure from double-digit growth in shipments from Chinese rivals. Xiaomi A report issued by the International Data Corporation showed.Apple shipped 50.1 million units in the first quarter, down 9.6% from 55.4 million shipments in the same period a year earlier,…
This article is an on-site version of our Unhedged newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersGood morning. Will turmoil between Iran and Israel send stocks south? Our view is that it probably won't happen, simply because geopolitical turmoil doesn't usually matter. As we said last October, markets don't understand war any better than we do. Is this time different? Email us: robert.armstrong@ft.com and ethan.wu@ft.com.Art is not an investment, but investment is an art, unfortunatelySomeone from the art world or the financial…
Welcome to FT Asset Management, our weekly newsletter about the movers and shakers behind a global multi-trillion dollar industry. This article is the on-site version of the newsletter. Subscribers can sign up here to have it delivered every Monday. Explore all our newsletters here.Do the format, content, and tone work for you? Let me know: harriet.agnew@ft.com Hello, it's Katie Martin here again, filling in for Harriet Agnew as she takes a spot on My Time. Don't worry, service will be back to normal next week. Here's the lowdown on the latest developments in asset management while she's gone, including a…
David Solomon, Chairman and CEO of Goldman Sachs, speaks on CNBC's Squawk Box at the World Economic Forum's annual meeting in Davos, Switzerland, on January 17, 2024. Adam Galese | CNBCGoldman Sachs It is scheduled to report first-quarter earnings before the opening bell on Monday.Here's what Wall Street expects:Earnings: $8.56 per share, according to LSEG Revenue: $12.92 billion, according to LSEG Trading revenue: Fixed income of $3.64 billion and stocks worth $2.95 billion, per StreetAccountInvesting Banking revenue: $1.77 billion, per StreetAccountGoldman Sachs CEO David Solomon got his lumps last year, but hope is growing for a turnaround.Sleepy capital markets and…