Bill Gates has warned that Elon Musk could make Twitter "worse" after the Tesla CEO pledged to buy the social media firm for $44 billion.
Speaking at the Wall Street Journal's CEO Summit Wednesday, … [+3281 chars]

Bill Gates has warned that Elon Musk could make Twitter worse after the Tesla CEO pledged to buy the social media firm for $44 billion.

CNBC

Bill Gates questions Elon Musk's goals with Twitter: 'He could make it worse' - CNBC

Federal Reserve Chairman Jerome Powell alleviated some concerns of a looming economic recession after he rejected the possibility of an even larger interest rate hike than the one the U.S. central ba… [+4080 chars]

Federal Reserve Chairman Jerome Powell alleviated some concerns of a looming economic recession after he rejected the possibility of an even larger interest rate hike than the one announced by the U.S. central bank on Wednesday.

Fox Business

Fed's Powell calms recession jitters with rebuff of 75-basis point rate hike - Fox Business

Warren Buffett's Berkshire Hathaway stocked up on oil shares this week, adding to the company's holdings of Occidental Petroleum.
Berkshire bought about 5.9 million more shares of the oil company. T… [+1721 chars]

Warren Buffett's Berkshire Hathaway stocked up on oil shares this week, adding to the company's holdings of Occidental Petroleum.

Buffett's Berkshire buys more Occidental shares - Fox Business

Dont call your employees a fameo while announcing layoffs
The company apparently grew too large during the pandemic.
Image: Getty
Cameo, the company that lets you pay a celebrity to record a custo… [+2524 chars]

The company that lets you pay celebrities to record videos is laying off a quarter of its staff, according to a report from The Information.

The Verge

The company behind celebrity cameo videos has laid off a quarter of its workers - The Verge

Tesla CEO Elon Musk appeared to ramp up the pressure on multiple left-wing groups backed by teachers unions and George Soros who signed a letter pressuring Twitter’s top advertisers to boycott the so… [+1623 chars]

Tesla CEO appeared to ramp up the pressure on multiple left-wing groups backed by teachers unions and George Soros who signed a letter pressuring Twitter’s top advertisers to boycott the social media platform if Musk follows through on his plans to ease free …

Elon Musk challenges billionaires, pols funding groups attacking his Twitter buy - Fox Business

(CNN Business)New York City pension fund officials sued Activision Blizzard late last month in a bid to force the company to disclose records that may uncover whether CEO Bobby Kotick breached his fi… [+2627 chars]

New York City pension fund officials sued Activision Blizzard late last month in a bid to force the company to disclose records that may uncover whether CEO Bobby Kotick breached his fiduciary duty to investors, according to a newly released copy of the compl…

New York City pension funds sue Activision Blizzard, seeking records on CEO Bobby Kotick - CNN

SINGAPORE Shares in Asia-Pacific were higher in Thursday trade following the U.S. Federal Reserve's widely expected decision overnight to hike rates by half a a percentage point its biggest increase … [+3093 chars]

The U.S. Federal Reserve on Wednesday increased its benchmark interest rate by half a percentage point, in line with market expectations.

Mainland China stocks rise on return to trade, as Asia stocks climb following Fed rate hike - CNBC

WASHINGTON, May 4 (Reuters) - The rate of plastic waste recycling in the United States fell to between 5%-6% in 2021 as some countries stopped accepting U.S. waste exports and as plastic waste genera… [+2309 chars]

The rate of plastic waste recycling in the United States fell to between 5%-6% in 2021 as some countries stopped accepting U.S. waste exports and as plastic waste generation surged to new highs, according to a report released on Wednesday.

Reuters

U.S. plastic recycling rate drops to close to 5% - report - Reuters.com

SACRAMENTO, Calif. (AP) California, which has a economy larger than all but four countries and where much of the worlds technological innovation is born, on Wednesday became the first state to formal… [+5551 chars]

SACRAMENTO, Calif. (AP) — California, which has a economy larger than all but four countries and where much of the world's technological innovation is born, on Wednesday became the first state to formally begin examining how to broadly adapt to cryptocurrency…

Associated Press

California moves to embrace cryptocurrency and regulate it - The Associated Press - en Español

Bausch Health: "We wanted to buy more today, but we ran out of time. This thing is being put on sale. There are shorts taking it all the way down. It is quite ridiculous. I wanted to be able to buy a… [+1098 chars]

"Mad Money" host Jim Cramer rings the lightning round bell, which means he's giving his answers to callers' stock questions at rapid speed.

Cramer's lightning round: Marvell Technology and Bausch Health are buys - CNBC

The two most striking moments of Federal Reserve chair Jerome Powell's news conference Wednesday came at the very beginning and near the end.
He started the session by staring into the camera and te… [+3144 chars]

Chair Jerome Powell addressed the American public directly, and owned the current situation

Axios

The Fed's Jerome Powell is owning the inflation problem - Axios

Its paying out $141 million in total
But will I have to claim that as income on my taxes?
Intuit, the company behind TurboTax, has agreed to pay out $141 million after it cheated millions of low-in… [+3287 chars]

After years of deceptive marketing around its “free” TurboTax software, Intuit will have to compensate people it tricked into paying to file taxes when they didn’t need to.

Intuit owes you money if it tricked you into paying for TurboTax "Free Edition" - The Verge

First up, we focus on inflation and today's Fed meeting. Folks, I knew Paul Volcker. I actually worked for Paul Volcker at the NY Fed in 1975. and I can tell you Jay Powell is no Paul Volcker. 
He m… [+4366 chars]

FOX Business host Larry Kudlow reacts to Wednesday's Fed meeting on 'Kudlow.'

Kudlow: Wednesday's Fed announcements were dovish - Fox Business

The dude who drunkenly flipped out on a Frontier Airlines flight last summer and assaulted three flight attendants before getting duct-taped to his own seat has been sentenced to 60 days in jail, acc… [+2389 chars]

The Ohio man who had his mouth taped shut on a plane last summer has been sentenced to nearly two months in jail.

Gizmodo.com

The Frontier Passenger Taped to His Seat After Groping Flight Attendants Is Going To Jail - Gizmodo

Facebook parent Meta Platforms on Wednesday announced a sharp slowdown in hiring, ending an extended period in which the tech giant added thousands of jobs a year.
We regularly re-evaluate our talen… [+278 chars]

The slowdown ends an extended period in which the tech giant added thousands of jobs a year. The company says it has no plans for layoffs.

The Wall Street Journal

Facebook Parent Meta Hits the Brakes on Hiring as Growth Stalls - The Wall Street Journal

Etsy and eBayreportedbetter-than-expected first-quarter results after the bell on Wednesday, but the companies gave weak guidance for the current quarter that suggests the e-commerce sector is coolin… [+3685 chars]

Both of the companies gave disappointing guidance for the current quarter, sending their stocks sharply lower in extended trading.

EBay and Etsy drop on weak guidance as e-commerce crunch continues - CNBC

Saylor has become a leader in the crypto community ever since his company began adding Bitcoin to its balance sheet, but being a crypto evangelist comes with some serious risks.

Fortune

A Bitcoin margin call. If the world’s leading cryptocurrency drops below $21,000, Michael Saylor’s MicroStrategy will be forced to pay up - Fortune

The Federal Reserve's neutral rate is "in the enchanted forest" and high inflation will push the U.S. economy into recession, according to Jason Brady, chief...

YouTube

The Fed's Neutral Rate Is 'in the Enchanted Forest,' Brady Says - Bloomberg Markets and Finance

Netflix downplayed the impact of account sharing, increased competition from other streaming services and difficulties retaining users, according to a shareholder lawsuit.
In a complaint filed Tuesd… [+3016 chars]

Logo text Netflix downplayed the impact of account sharing, increased competition from other streaming services and difficulties retaining users, according to a shareholder lawsuit. In a complaint filed Tuesday in California federal court, investors sued the …

Hollywood Reporter

Netflix Hit With Shareholder Lawsuit After Disclosing Subscriber Loss - Hollywood Reporter

Today brought the much-anticipated policy announcement from the Federal Reserve.  Many people mistakenly believe that the Fed's present day decisions to hike/cut its policy rate (the "Fed Funds Rate"… [+1637 chars]

Today brought the much-anticipated policy announcement from the Federal Reserve.  Many people mistakenly believe that the Fed's present day decisions to hike/cut its policy rate (the Fed Funds Rate) are important to financial markets, but by the time the Fed …

Mortgage News Daily

Mortgage Rates Started Higher, But Improved After Fed Announcement - Mortgage News Daily

May 4 (Reuters) - U.S. stocks ended sharply higher on Wednesday after the Federal Reserve delivered a widely expected interest-rate hike, and the S&amp;P 500 recorded its biggest one-day percentage g… [+3570 chars]

U.S. stocks ended sharply higher on Wednesday after the Federal Reserve delivered a widely expected interest-rate hike, and the S&P 500 recorded its biggest one-day percentage gain in nearly a year.

Wall Street closes with sharp gains after Fed's interest rate hike - Reuters.com

The U.S. Federal Reserve (Fed) has raised interest rates by 50 basis points in its largest hike since 2000.
Bitcoin briefly touched $40,000 after the Fed released its new monetary policy guidelines.… [+2661 chars]

The Federal Reserve raised rates by 50 basis points on Wednesday in its latest attempt to curb inflation in the U.S.

Bitcoin Magazine

Bitcoin Touches $40,000 As Fed Raises Rates In Biggest Hike In 20 Years - Bitcoin Magazine

Lyft stock is getting crushed. Its performance is dragging down shares of peers. One Wall Street analyst says a strategic merger could create a more profitable business.

Barron's

DoorDash Should Buy Lyft to Compete With Uber: Analyst - Barron's

DALLAS, May 04, 2022--(BUSINESS WIRE)--Energy Transfer LP (NYSE:ET) ("Energy Transfer" or the "Partnership") today reported financial results for the quarter ended March 31, 2022.
Energy Transfer re… [+65649 chars]

DALLAS, May 04, 2022--Energy Transfer LP (NYSE:ET) ("Energy Transfer" or the "Partnership") today reported financial results for the quarter ended March 31, ...

Yahoo Entertainment

Energy Transfer Reports Strong First Quarter 2022 Results and Increases 2022 Guidance - Yahoo Finance

Demand destruction due to Covid…
Soaring imports of U.S. oil…
By Charles Kennedy - May 04, 2022, 3:00 PM CDTDiesel prices hit yet another new record on Wednesday at $5.43 per gallon, now some $1.2 … [+1663 chars]

Diesel prices hit yet another new record on Wednesday at $5.43 per gallon, now some $1.2 more than a gallon of gasoline, according to AAA

OilPrice.com

Diesel Prices Hit New Record On Wednesday - OilPrice.com

Dennys has reached an agreement to purchase Kekes Breakfast Cafe, a 52-restaurant chain that started in Orlando, for $82.5 million.
Kekes got its start in 2006 when it opened as Florida Waffle Shop … [+2393 chars]

Denny’s has reached an agreement to purchase Keke’s Breakfast Cafe, a 52-restaurant chain that started in Orlando, for $82.5 million.

Orlando Sentinel

Denny's buys Orlando Keke's Breakfast Cafe chain for $82.5 million - Orlando Sentinel

One customer walked out of ShopRite holding 20 bananas in his arms. I completely forgot this was starting, he remarked on the way to his car to escape the rain. This is ridiculous.
A regular at Acme… [+6942 chars]

Shoppers had a mixed bag of reactions to new restrictions against giving out or selling plastic bags and Styrofoam products.

nj.com

Shoppers caught unprepared, but some show support for N.J.’s new plastic bag ban - NJ.com

Executives at telehealth startup Cerebral told their clinicians that the company will stop prescribing Adderall and other controlled substances to treat attention deficit hyperactivity disorder, the … [+1390 chars]

The company says it will continue to prescribe controlled substances for other conditions.

Telehealth startup Cerebral will stop prescribing Adderall for new ADHD patients - Axios

The Federal Aviation Administration said Wednesday that it will "immediately" increase staffing at a major air traffic control center in Florida to handle airlines' surging numbers of flights to the … [+2172 chars]

Airlines have ramped up capacity beyond 2019 levels at several major Florida airports.

FAA to increase Florida air traffic controllers, work with airlines to avoid more flight disruptions in state - CNBC

Cancel within 15 days and owe no money
If you buy something from a Verge link, Vox Media may earn a commission. See our ethics statement.
T-Mobile is opening up its try-before-you-buy program to ho… [+2011 chars]

If you’re curious about fixed wireless internet, you can give T-Mobile’s home internet service a try before you buy. Customers can now cancel within 15 days and get a full refund.

You can now test drive T-Mobile's 5G home internet service - The Verge

It's becoming harder to afford a home.
Prices are up almost 20% year over year, and mortgage rates are soaring.
The rate for a 30-year fixed loan is now 5.57%, according to Mortgage News Daily, up … [+3675 chars]

Rising mortgage rates and prices are squeezing buyers. At the same time, rents are also up. Here's what to consider when deciding which move is right for you.

As mortgage rates rise, here’s how to decide whether you should buy a home or rent - CNBC

Senators on Wednesday scrutinized Visa and Mastercard for raising swipe fees on merchants, costs that they say will be passed down to consumers amid surging inflation. 
Senate Judiciary Committee Ch… [+5530 chars]

Senators on Wednesday scrutinized Visa and Mastercard for raising swipe fees on merchants, costs that they say will be passed down to consumers amid surging inflation.  Senate Judiciary Committee Chairman Dick Durbin (D-Ill.), a longtime critic of the credit …

The Hill

Senators grill Visa, Mastercard execs over swipe fees - The Hill

MOSES LAKE, Wash. (AP) &mdash; A battery materials company has purchased a 600,000-square foot facility in Moses Lake, Washington, to be used to manufacture lithium-ion anode battery materials for the automotive and cell phone industries. Sila, based in Alame…

KOMO News

New factory in Moses Lake to bring hundreds of new jobs - KOMO News

Google is scrapping a time-consuming, twice-a-year staff performance review process in an effort to improve morale and reduce the time employees spend preparing the assessments, according to people f… [+592 chars]

Google is scrapping a time-consuming, twice-a-year staff performance review process in an effort to improve morale and reduce the time employees spend preparing the assessments, according to people familiar with the changes. CEO Sundar Pichai told staff Wedne…

The Information

Google Overhauls Performance Review System After Employee Criticism - The Information

Stanford University announced Wednesday it is launching a new school later this year focused on climate change and funded by John Doerr, a renowned Silicon Valley venture capitalist. 
Doerr and his … [+2825 chars]

Stanford University announced Wednesday it is launching a new school later this year focused on climate change and funded by John Doerr, a renowned Silicon Valley venture capitalist.

Stanford University announces new climate change school with $1.1 billion from renowned venture capitalist - CNN

TikTok is introducing a new way to lure advertisers to its platform by giving them the ability to showcase their brands’ content next to the best videos on TikTok. Ahead of its NewFronts presentation… [+4622 chars]

TikTok is introducing a new way to lure advertisers to its platform by giving them the ability to showcase their brands’ content next to the best videos on TikTok. Ahead of its NewFronts presentation to advertisers scheduled for this afternoon, TikTok announc…

TechCrunch

TikTok introduces its first ad product to offer a revenue share with creators - TechCrunch

Although overall economic activity edged down in the first quarter, household spending and business fixed investment remained strong. Job gains have been robust in recent months, and the unemployment… [+2268 chars]

Although overall economic activity edged down in the first quarter, household spending and business fixed investment remained strong. Job gains have been robus

Federalreserve.gov

Federal Reserve issues FOMC statement - Federal Reserve

The Reserve Bank of India hiked lending rates to tame inflation after two years of massive public spending. Central banks around the world are doing the same...

Gravitas: India's Central Bank hikes interest rates - WION

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! 
(Kitco News) … [+3012 chars]

(Kitco News) - Gold prices have pushed into positive territory as the Federal Reserve makes its biggest rate hike in 22 years.

Kitco NEWS

Gold price turns positive as Fed raises interest rates by 50 basis points - Kitco NEWS

May 4 (Reuters) - Levi Strauss &amp; Co said on Wednesday it will reimburse travel expenses for its full- and part-time employees who need to travel to another state for health care services, includi… [+2030 chars]

Levi Strauss & Co said on Wednesday it will reimburse travel expenses for its full- and part-time employees who need to travel to another state for health care services, including abortions.

Levi Strauss to reimburse abortion travel for employees - Reuters

"We believe we gained revenue share in our key markets," AMD CEO Lisa Su told Jim Cramer after the chip designer's first-quarter earnings.

Advanced Micro Devices CEO says the chip designer is gaining share. We say buy the stock - CNBC

The New York Times' purchase of Wordle appears to have paid off, at least in the near term. The newspaper has revealed that it added "tens of millions" of new users in the first quarter of 2022 thank… [+1409 chars]

The 'Wordle' purchase was a smart move for The New York Times —it added tens of millions of users..

Engadget

Wordle brought 'tens of millions' of users to The New York Times - Engadget

Bitcoin (BTC) stayed mostly steady at $39,000 on May 4 as the U.S. Federal Reserve conformed to expectations of a 0.5% key interest rate hike.
BTC/USD 1-hour candle chart (Bitstamp). Source: Trading… [+3522 chars]

Bitcoin avoids BTC price volatility after the Fed inflation statement conforms to expectations.

Cointelegraph

Bitcoin wobbles around $39K as Fed confirms up to 1% key rate target next - Cointelegraph

Fisker announced today Project Ronin, the company’s third electric vehicle – a new electric GT with what it claims will be the “longest range of any production EV.” While Fisker has announced its thi… [+2568 chars]

Fisker announced today Project Ronin, the company’s third electric vehicle – a new electric GT with what it claims will be the “longest range of any production EV.” While Fisker has announced its third EV, it has yet to bring its first one to market. The Fisk…

Electrek

Fisker announces new electric GT with ‘longest range of any production EV’ - Electrek.co

AppleCORE wants to organize a retail location in Maryland
Employees at Apples Towson Town Center may soon be voting on whether to unionize.
Image: Apple
Employees at Apples Towson Town Center stor… [+1484 chars]

Apple employees at a retail store in Maryland have filed a petition with the labor board to hold a union election, becoming the second location to have done so.

Second Apple Store officially files petition to hold union election - The Verge

Moderna (MRNA) is adjusting to the new pace of demand for COVID-19 vaccines in 2022, with a strong outlook on sales globally, though it still faces some hurdles in the U.S. market.
That's according … [+1828 chars]

Moderna awaits Congress's decision on funding boosters as well as the FDA's decision on which booster to produce, putting it in uncertain territory for 2022.

Moderna prepares to sell COVID-19 vaccine privately as US delays booster call - Yahoo Finance

(WJW) The U.S. Food and Drug Administration (FDA) issued warning letters to five companies Wednesday that sell delta-8.
Delta-8 THC is one of over 100 cannabinoids produced in the Cannabis sativa L.… [+1290 chars]

The U.S. Food and Drug Administration (FDA) issued warning letters to five companies Wednesday that sell delta-8.

fox8.com

FDA warns multiple companies over delta-8, CBD sales - WJW FOX 8 News Cleveland

Inflation, supply imbalances and strong demand for imported goods widened the U.S. trade deficit to a record in March, with clothing, computers, and vehicles driving the surge.
The trade gap in good… [+256 chars]

Demand for consumer goods, oil and industrial materials led 10% increase in imports

U.S. Trade Deficit Widens to Record $109.8 Billion as Imports Surge - The Wall Street Journal

Uber Technologies pulled out all the stops on Wednesday to distance itself from the issues that pulled down rival Lyft Inc., but its shares fell anyway.Ride-hailing company Lyft 
 LYFT,
 -29.91%
r… [+3868 chars]

Stock slides 11% after early release of earnings, meant to counteract effects of poor Lyft report

MarketWatch

Uber tried to outrun the fears Lyft created, but its stock is getting smacked anyway - MarketWatch

Would you like an NFT with your Starbucks latte? The coffee giant this week announced its plans to enter the web3 space with the launch of its own NFT collection later this year, where the individual… [+5306 chars]

Starbucks announced plans to enter the web3 space with the launch of its own NFT collection.

Starbucks to launch NFTs this year, offering access to ‘unique experiences and benefits’ - TechCrunch

Starbucks CorporationSBUX shares are trading higher by 6.96% to $79.50 during Wednesday’s pre-market session. The company reported better-than-expected second-quarter sales during Tuesday’s after-hou… [+1564 chars]

Starbucks Corporation (NASDAQ: SBUX) shares are trading higher by 6.96% to $79.50 during Wednesday’s pre-market session. The company reported better-than-expected second-quarter sales during Tuesday’s after-hours session.

Benzinga

What's Going On With Starbucks Shares Today? - Benzinga - Benzinga

Being the parent of a young child is hard enough, even before factoring in the additional challenges of living through a global pandemic. And so far this year, that has included a shortage of baby fo… [+7438 chars]

Massive recalls and supply chain issues have made formula difficult to find.

Lifehacker.com

How to Navigate the Ongoing Baby Formula Shortage - Lifehacker

A typical Wayne County home listed for $129,450 in March, up 5.3% from a month earlier, an analysis of data from Realtor.com shows.
The median list home price in March was down about 14.5% from Marc… [+2880 chars]

In Wayne County, homes for sale had a median price of $107 per square foot, while Michigan's was $156

Detroit Free Press

Metro Detroit home prices rise 5.3% in March, with houses for sale in high demand - Detroit Free Press

U.S. companies added far fewer jobs than expected in April, suggesting the tightest labor market in decades has made it difficult for businesses to fill a record number of open positions, according t… [+3065 chars]

U.S. companies added far fewer jobs than expected in April, suggesting the tightest labor market in decades has made it difficult for businesses to fill a near-record number of open positions, according to the ADP National Employment Report released Wednesday…

US companies added 247,000 jobs in April, sharply missing expectations: ADP - Fox Business

Yum Brands on Wednesday reported quarterly earnings and revenue that missed analysts' expectations as lockdowns in China weighed on sales.
The company also said it would miss its long-term target fo… [+2875 chars]

Taco Bell was the only chain in Yum's portfolio to report better-than-expected same-store sales growth.

Yum Brands earnings miss estimates as China weighs on KFC, Pizza Hut sales - CNBC

If the pleasantries exchanged today between the Biogen board and CEO Michel Vounatsos looked a bit intricately scripted to you, even by corporate PR standards, their 10Q filed with the SEC offers a p… [+660 chars]

Stymied by Medicare and forced to admit the end of its once sky-high hopes in the controversial Alzheimer's medicine Aduhelm, Biogen announced this morning that CEO Michel Vounatsos is being replaced as the big biotech restructures the pipeline, hunts deals a…

Endpoints News

UPDATED: Michel Vounatsos is on his way out as Biogen shutters Aduhelm effort and launches pipeline reorg - Endpoints News

CVS Health on Wednesday outpaced Wall Street's expectations for first-quarter earnings and raised its guidance for the year, as it saw demand for prescriptions and more, while demand for Covid vaccin… [+5047 chars]

CVS Health beat expectations for earnings and raised its guidance for the year, as it saw demand for prescriptions and more, as demand for Covid testing fell.

CVS raises forecast for year, as first-quarter earnings top expectations - CNBC

When Starbucks management came for Sean Andrews, it didnt surprise him, exactly. Tensions were already running high in the Denver coffee shop where he worked. A few days prior, Andrews fellow barista… [+24560 chars]

In a state where labor culture isn’t strong, a Denver store’s union drive is notable. As soon as it was announced, high-ranking company figures began visiting

Home

What's Happening

Bill Gates questions Elon Musk's goals with Twitter: 'He could make it worse' - CNBC

Fed's Powell calms recession jitters with rebuff of 75-basis point rate hike - Fox Business

Buffett's Berkshire buys more Occidental shares - Fox Business

The company behind celebrity cameo videos has laid off a quarter of its workers - The Verge

Who to follow