Business Update – 28 June 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Stocks fall as Fed’s Powell confirms more rate hikes this year

U.S. stocks fell across the board on Wednesday after Federal Reserve Chair Jerome Powell reiterated more rate hikes are on the way during congressional testimony.

Powell, Semiannual Monetary Policy Report to the Congress

Federal Reserve Chairman Jerome Powell testified before the House Financial Services Committee on June 21, 2023. Read the Semiannual Monetary Policy Report to the Congress.

5 tips to maintain mental health at work

According to Mental Health America, 78% of workers agree that workplace stress affects their mental health. Here are five tips to improve your wellness at work.

Google to delete millions of email accounts

With the intention of freeing up space on its servers, and to continue to strengthen the security of users, Google has taken the decision to delete accounts that have not been used for two years.

Google to build 153-acre Bay Area neighborhood

Bay Area tech giant Google got the go-ahead to build a 153-acre mixed-use neighborhood just south of its headquarters in north Mountain View. Plans for the 30-year project, which will supplant the Google offices and parking lots currently in the area, include over 3 million square feet of office space and 7,000 residential units.

FTC takes action against Amazon

The FTC has taken action against Amazon for enrolling consumers in Amazon Prime without their consent and sabotaging their accounts. Complaint outlines details of company’s knowing failure to address non-consensual subscriptions and cancellation trickery.

Top forecaster predicts the S&P 500 will return just 2% a year after inflation over the next decade

Based on its expectations for inflation and earnings, Research Affiliates expects the S&P 500 to deliver real returns of just 2% a year for the next decade—a tiny fraction of their annual returns over the past 10 years.

Companies must give people the power to control their own data if they are to be successful

Companies that succeed in harnessing the power of data will be the leaders of the next decade and will help enrich the lives of billions of people. But they will do so by allowing people to own and control their own data.

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