Jean Thompson, Author at Dual Cow

Paramount Global significantly cuts U.S. workforce as Q2 earnings lift shares

Aug

Paramount Global significantly cuts U.S. workforce as Q2 earnings lift shares

Related media - News 24 hours Paramount Global has announced a 15% reduction in its U.S. workforce, in line with a global cost-cutting strategy in anticipation of its upcoming merger with Skydance Media. The company disclosed plans to achieve $500 million in cost savings, contributing to a larger $2 billion in synergies expected from its merger with Skydance. The upcoming layoffs, scheduled to begin soon and be completed by the end of the year, will primarily affect departments such as marketing, communications, finance, legal, technology and other support roles, the company noted in its recent earnings conference call. Last month,…

Breakthrough peanut allergy treatment program launched in Australia

Aug

By Jean Thompson

Health

Breakthrough peanut allergy treatment program launched in Australia

More news - News 24 hours In a groundbreaking initiative, infants with peanut allergies across Australian hospitals will now have access to a life-changing treatment program aimed at building tolerance to this common allergy. The pioneering program, the first of its kind in the world, is a collaboration between the National Centre of Excellence in Allergy (NACE) and the Murdoch Children's Research Institute (MCRI). Known as the ADAPT OIT Program, it is tailored for infants under 12 months who have been diagnosed with a peanut allergy and are under the care of allergy specialists at ten children’s hospitals in five…

State officials urge Elon Musk to tackle AI-powered misinformation on social media platform X

Aug

By Jean Thompson

Science and Technology

State officials urge Elon Musk to tackle AI-powered misinformation on social media platform X

Related media - Latest news In Washington, the secretaries of state of five US states have asked billionaire Elon Musk to dismantle an artificial intelligence-based chatbot on his social media platform X, criticizing it for spreading inaccurate information about the upcoming November 5 elections. Why is it important? Social media platforms, particularly X, have come under intense scrutiny for spreading misinformation and conspiracy theories, including incorrect details about the election and voter eligibility. The proliferation of AI-generated content is a growing concern in Washington, especially because it has the potential to influence voter behavior in upcoming presidential and legislative elections.…

Jamie Dimon Predicts Recession Likely Despite Potential for Economic Stability

Aug

By Jean Thompson

Investments and Business

Jamie Dimon Predicts Recession Likely Despite Potential for Economic Stability

Related media - Breaking news In a recent interview, JPMorgan Chase CEO Jamie Dimon reiterated his view that a U.S. recession remains a likely outcome, assigning a 35% to 40% chance for a mild economic downturn. That reflects his consistent stance since February, when he expressed skepticism about the market’s overly positive sentiment on recession risks. In his conversation with CNBC’s Leslie Picker, Dimon stressed that his assessment remains unchanged, highlighting ongoing global and domestic challenges that could impact economic stability. These include geopolitical tensions, housing market fluctuations, government deficits, and policy actions such as quantitative tightening and upcoming elections,…

June Unemployment Rates Rise for Women Across Racial Groups, Fall for Men

Aug

By Jean Thompson

Investments and Business

June Unemployment Rates Rise for Women Across Racial Groups, Fall for Men

Related media - Recent news Unemployment rates among white, black and Hispanic women rose in June, in line with broader economic trends, according to data released Friday by the Labor Department. White adult women saw a slight increase in unemployment, from 3.0% in May to 3.1% in June. Black women saw their unemployment rate increase from 5.2% to 5.7%, while Hispanic women saw an increase from 4.1% to 4.5%. Overall, the national unemployment rate rose to 4.1%, from 4.0% last month. In contrast, unemployment rates for men in all three racial groups declined. The rate for white men fell to…

Trump’s Rising Odds: Potential Impact on European Economy

Aug

By Jean Thompson

Investments and Business

Trump’s Rising Odds: Potential Impact on European Economy

Related media - Recent news MIAMI — With the growing likelihood that Donald Trump will win the 2024 presidential election, Goldman Sachs economists are warning that another term for the former president could have “profound implications” for the euro area economy. “Our baseline estimates point to a significant decline in GDP (gross domestic product) of around 1% with a modest increase in inflation of 0.1 percentage points,” Goldman Sachs’ Jari Stehn and James Moberly noted in a report released Friday, before Saturday’s assassination attempt. "Trump's re-election would therefore pose a significant downside risk to our otherwise constructive growth forecast for…