GM's Cruise set to Cruise California
Uniic Media Newsletter - Monday - June 6, 2022
PayPal begins Cutting Staff as its Push to Reduce Costs Ramps up
PayPal began laying off staffers who worked in risk management and operations this week as the firm seeks to shore up profits after growth in spending on its platform stagnated in recent quarters.
The company laid off dozens of staffers who worked in Chicago, Omaha, Nebraska, and Chandler, Arizona, according to people familiar with the matter, who asked not to be identified as discussing private information.
PayPal this month also announced plans to permanently lay off more than 80 people in its headquarters in San Jose, California, according to filings with that state.
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Americans say Gas Prices and the Economy will Dictate Midterm Election Votes
More than 8 in 10 Americans (83% exactly) cite the economy as an extremely or very important issue in determining how they will cast their vote in November, according to an ABC News/Ipsos poll.
And 80% say inflation, which is hovering around 40-year highs, and 74% say gas prices, which are nearing $5 a gallon, are important factors in how they will vote.
Only 37% approve of Biden’s response to the economy, while even smaller margins approve of his handling of inflation (28%) and gas prices (27%).
Investors set their Sights on the Upcoming Inflation Report this Friday
The stock market may try to regain its footing in the next few sessions, even as a fresh inflation report looms large at the end of the week.
Stocks struggled to move forward in the past week. With Friday’s sell-off, the major indexes closed out the four-day period with losses. That was disappointing to investors looking for a similar upside to the week before Memorial Day during which the S&P 500 gained about 6.5%.
GM's Cruise Scores first Permit in California to Carry Paying Riders in Driverless Cars
General Motors Cruise became the first company to secure a permit to charge for self-driving car rides in San Francisco after it overcame city officials' objections.
Self-driving test cars with human safety drivers have become a constant sight in San Francisco, and completely driverless ones are increasingly common too. Turning them into a fledgling business in a major U.S. city marks a milestone in the long, delayed journey toward driverless taxi service.