Columbus, OH

Reuters

HONG KONG (Reuters) - Ernst & Young (EY) and KPMG have snapped up over half of PwC's corporate clients in China that have fled the market's leading accounting firm as it faces a regulatory probe, filings show.

EY, KPMG benefit most from PwC China's regulatory woes

The Independent

Global equities markets began the week with a steep plunge, reacting to the possibility of a coming US recession that Goldman Sachs economists pegged at 25 percent.On Monday morning, the Dow Jones Industrial Average fell 945 points, or nearly 2.5 percent, to ​​38,791.28. In simple terms, if on Friday you had $100 in a fund tracking the Dow, you would now have about $97.50. The two other major indexes, the S&P 500 and the Nasdaq Composite, were down mid-morning by roughly 3 percent and 6 percent, respectively. At the end of the session, the Dow was down 2.6 percent, sliding...

Experts are warning of a global recession. Here’s what that actually means

ZURICH (Reuters) -UBS is to liquidate a $2 billion real estate fund it acquired when it bought Credit Suisse, the Swiss bank said on Thursday, in the latest sign of investors selling out of troubled commercial property markets.

UBS to liquidate $2 billion real estate fund as office downturn bites

Colorado State

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David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

Florida State

Jacksonville Today

Republican Donald Trump has a 7-point lead over Democrat Kamala Harris among Florida voters, 49% to 42%, according to a new poll from the University of North Florida. Four percent are backing another candidate, and 6% are undecided or didn’t answer.

New Florida poll: Trump leads; support strong for abortion and recreational weed

Kentucky State

Northern Kentucky Tribune

Major changes to how real estate transactions are conducted are set to take affect this month that will effect how both sellers, and buyers, compensate their agents. On March 15, the National Association of Realtors (NAR) settled a lawsuit brought by home sellers regarding how broker commissions were handled. As a result of that settlement, the NAR will remove agent compensation amounts from Multiple Listing Services, provide detailed compensation information to buyers and sellers and attain a written agreement outlining that compensation structure.

Broker commissions on real estate transactions will look a lot different starting August 17

TheConversationAU

With reporting season in full swing, many ASX-listed companies are releasing their financial results to the market.

These results are used to cast judgement on the performance of the company, led by the chief executive officer (CEO). Amid all the information released by the company, there is one figure all eyes will fixate on – earnings. 

The earnings figure will have wide-ranging impacts on company employees, investors, and everyday Australians who have their superannuation invested in the stock market.

Despite its importance, the financial reporting process that goes on behind the scenes to decide the earnings figure is hidden to those outside...

Earnings announcements at an AGM can reflect a corporate power play, not necessarily a company’s true value

Job satisfaction varies widely across sectors, the manufacturing industry stands out. Surveys from The Manufacturing Institute indicate that over 80% of manufacturing workers express satisfaction with their jobs, a notable contrast to broader workforce trends where many sectors report declining satisfaction in specific subcomponents​. This overall contentment is further emphasized by Deloitte’s findings, which highlight the benefits of positive workplace practices such as employee involvement in decision-making, robust training programs, and stringent health and safety measures​.

Why Manufacturing Workers Are Among the Happiest

Las Vegas, NV

Bellingham Metro News

LAS VEGAS, NEVADA - A magnitude 4.4 earthquake struck areas near Las Vegas on Tuesday night, according to the United States Geological Service (USGS). The quake, which occurred at 8:06 p.m., was centered approximately 45 minutes from Las Vegas, near Indian Springs.

Magnitude 4.4 Earthquake Shakes Areas Near Las Vegas

The Guardian

ONS data shows strong performance in second quarter with the service sector helping drive growth

UK economy continues recovery from recession with GDP growth of 0.6%

Investors have been waiting for signs the Fed could begin cutting interest rates. Inflationary pressures eased in July, boosting expectations for a September rate cut. Investors sparked a relief rally, but the battle with inflation isn't over yet. Improvements in the state of the economy and the growing potential for...

Why Arm Holdings, Broadcom, and Other Artificial Intelligence (AI) Stocks Rallied Thursday Morning

New York Post

Cisco will cut thousands of jobs in a second round of layoffs this year as the networking equipment maker shifts focus to higher-growth areas, including cybersecurity and AI, people familiar with the matter said.

The number of people affected could be similar to or slightly higher than the 4,000 employees Cisco laid off in February, and will likely be announced as early as Wednesday with the company’s fourth-quarter results, said the sources, who were not authorized to speak publicly.

Reuters exclusively reported the job cuts that San Jose, California-based Cisco announced in February, prior to the company announcing it.



Stellantis to cut nearly 2.5K union workers as Ram...

Cisco axing thousands of jobs in second round of layoffs amid shift to AI: report

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The Lens

This year’s area of low oxygen in the Gulf of Mexico is larger than average, the National Oceanic and Atmospheric Administration (NOAA) announced on Thursday. The “dead zone” is approximately 6,705 square miles , as measured last week. Within NOAA’s 38 years of measuring the dead zone, this year’s assessment marks the 12th-largest area of low to no oxygen, which can kill fish and marine life.

Gulf ‘dead zone’ larger than average, larger than expected for 2024, scientists announce

Kansas State

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Missouri State

CJ Coombs

National Center for Missing and Exploited Children (NCMEC) helps to locate missing children. Since July 1, 2024, according to the National Center for Missing and Exploited Children (NCMEC), 174 children have been reported missing in the U.S. Since January 1, 2024, there was a total of 1,445 reported missing in the country.

Missing Missouri children as of July 17, 2024, according to the NCMEC

TechRadar

Cisco has confirmed major job cuts as the networking giant continues to address recent struggles and rising costs.The company has revealed 7% of its global workforce will be cut, equivalent to thousands of jobs, after sales and revenue fell once again.In its Q4 2024 results, Cisco revealed revenues of $13.6 billion, a decrease of 10% year on year, with total revenue for the whole 2024 financial year reaching $53.8 billion - a decrease of 6% year on year.
Cisco job cuts
The news, which confirms reports from just a few days ago, is the second round of major layoffs at Cisco in...

Cisco confirms major job cuts as revenues fall

Covington, GA

The Associated Press

SANTA CLARA, Calif.--(BUSINESS WIRE)--Aug 8, 2024-- Archer Aviation Inc. (“Archer” or the “Company”) (NYSE: ACHR) today announced operating and financial results for the second quarter ended June 30, 2024. The Company issued a shareholder letter discussing those results, as well as its third quarter 2024 estimates. The shareholder letter may be accessed on the Company’s investor relations website here. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240808890164/en/ Recent photo of Archer’s high-volume manufacturing facility in Covington, GA (Photo: Business Wire)

Archer Announces Key Terms Of Contract Manufacturing Relationship With Stellantis–Representing Up To ~$400M To Help Scale Midnight Production To 650 Aircraft Annually–Secures $230M In Additional Equity Capital From Strategic & Institutional Investors

Discounting opens a whole new world for brokers willing to make the investment necessary to be a successful partner. Don Cosenza provides a primer on discounting and its benefits for brokers and lenders. As the chief marketing officer of a broker centric, private lender, one of the most satisfying elements...

Operating at a Discount: The Benefits of the Broker-Lender Discounting Relationship

Automated advice platforms were supposed to upend the industry. Here comes the next generation, maybe. Robo-advisors are gaining plenty of traction as incumbents and newcomers flood the market. Almost every financial services provider, from industry stalwarts like Vanguard to relative upstarts like PortfolioPilot, has some combination of digital options available to customers. But with advancements in artificial intelligence, new tools and deeper personalizations may soon be at investors’ fingertips. Executives are hoping the next generation of platforms will have the power to reshape the online advice industry.

Can ‘Gen-2’ Robo-Advisors Take On Wall Street?

The European Central Bank (ECB) has published rules and arrangements for the mobilisation and management of collateral in Eurosystem credit operations. According to the bank, the move marks a step towards further financial integration in the euro area and the capital markets union. The harmonised rules and arrangements reflect on...

→ Industry news → ECB publishes harmonised rules for collateral management

The Current GA

Since 2020, the condition known as long COVID-19 has become a widespread disability affecting the health and quality of life of millions of people across the globe and costing economies billions of dollars in reduced productivity of employees and an overall drop in the work force .

Expert: Long COVID puzzle pieces are falling into place – picture is unsettling

NewsBreak

US Regulator Finds ‘Unacceptable’ Deficiency Rates At Audit Firms

Quis custodiet ipsos custodes; who watches the watchmen? In the US audit industry, that would be the Public Company Accounting Oversight Board. And it does not...

US Regulator Finds ‘Unacceptable’ Deficiency Rates At Audit Firms

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