The Daily Upside

Finance

PwC Slashes 1,800 Jobs in First Mass Cuts Since 2009

Photo by Wirestock via iStock

PricewaterhouseCoopers said it will lay off 1,800 staff members at its US unit next month. It will impact 2.5% of the unit’s employees.

1 min read

Today’s Upside

Recent News

FA Upside

How Do Active ETFs Work?

Photo by Photo by Tima Miroshnichenko via Pexels

The number of active ETF launches in the US has outpaced passive ETF product launches every year since 2020.

4 min read
FA Upside

BlackRock Tops Grayscale for Digital Asset Dominance

Photo by David Tran via iStock

The shift highlights the growing footprint of traditional firms in the digital asset industry, and signals renewed confidence in crypto.

2 min read
Consumer

Economic Strains Starting to Hit Wealthier Americans, Survey Finds

Photo by Ashlyn Ciara via Unsplash

Mizuho found that both low- and high-income Americans alike are trying to get as thrifty as possible, reducing spend.

1 min read
Energy

Exxon Sees Oil Demand in 2050 Unchanged, Testing Net Zero Goals

Photo by Harrison Keely via CC BY 4.0

ExxonMobil forecast that oil demand will remain above 100 million barrels per day in 2050, roughly the same as current levels.

2 min read
Big Tech

IBM Shutters Its China R&D Division

Photo by Mark Ahsmann via CC BY-SA 3.0

IBM announced it would be shutting down its Chinese research and development team, shifting some operations to other locations.

2 min read
FA Upside

Nobel Heir Invests in US Wealth Manager

Photo by Osama Shukir Muhammed Amin FRCP(Glasg) via CC BY-SA 4.0

Peter Nobel is among a group of investors partnering with the wealth manager Cardea to create a rebranded firm Fourcore Capital.

2 min read
FA Upside

Franklin Templeton, TD Bank in Regulators’ Crosshairs

Photo by Phillip Pessar via CC BY 2.0

Regulators are intensifying their focus on two financial institutions with the potential for fines stretching into the billions of dollars.

2 min read
Patent Drop

Roku Patent Balances Ad Output as Streaming Industry Plateaus

Photo via U.S. Patent and Trademark Office

The tech aims to walk a fine line of not overloading customers with bad ads as several streamers launch their own ad-supported tiers.

2 min read
Patent Drop

Apple Ring Patent Highlights Potential Plan to Expand Product Lineup

Photo via U.S. Patent and Trademark Office

Though the company has competitors in the space from Samsung and Oura, its walled garden ecosystem could give it an advantage.

2 min read
Patent Drop

Stripe Fraud Detection Patent Could Restore Trust in Crypto

Photo via U.S. Patent and Trademark Office

Stripe wants to fortify blockchain transactions with it’s latest patent.

2 min read
Real Estate

RealPage Sued by Justice Department for Alleged Rent Price-Fixing

Image Credit: iStock, JHVEPhoto

The DoJ launched an antitrust lawsuit against Thoma Bravo’s RealPage for allegedly helping property managers conspire to drive up rent.

1 min read
Big Tech

A Small Union Win Casts a Big Shadow Over Amazon

Photo by Todd Van Hoosear via CC BY-SA 2.0

Prosecutors for the NLRB concluded that a group of 84 unionized Amazon drivers in Palmdale, California are employed by Amazon.

2 min read
Investments

Silicon Valley Incubator Backs Its First Defense Company

Image Credit: iStock, Austin Nooe

Y Combinator is backing Ares Industries, a defense company that builds “low-cost cruise missiles.” It previously avoided the defense market.

2 min read
Autos

RV Having Fun Yet? The Ups and Downs of Camper Economics

Photo illustration by Connor Lin / The Daily Upside, Photo by Nerthuz via iStock

In addition to offering mobile headquarters for families on vacation, recreational vehicle sales are a pretty good indicator of the economy.

5 min read
Consumer

Is Peloton’s Turnaround Plan Finally Working?

Photo by Phillip Pessar via CC BY 2.0

Peloton reported sales growth of 0.2% in the latest quarter, its first quarter of year-over-year revenue growth since late 2021.

1 min read
Banking

The EU Wants to Make Its Bankers More Fireable

Photo by Kremlin.ru via CC BY 4.0

The German government is planning to make it easier for companies in the financial sector to fire high-earning employees.

1 min read
International Economics

Canadian Railway Shutdown Threatens US Supply Chains

Photo by Sangkeun Park via CC BY-SA 4.0

Canadian National Railway and Canadian Pacific Kansas City came to a halt after locking out 9,300 employees over a contract dispute.

2 min read
Patent Drop

Electronic Arts’ Patent Highlights Risks and Rewards of AI in Game Development

Photo via U.S. Patent and Trademark Office

Though generative AI could make game development faster and easier, the industry is divided on where AI fits into the picture.

2 min read
Patent Drop

Philips Patent Predicts ER Delays Amid Healthcare Staffing Shortage

Photo via U.S. Patent and Trademark Office

Philips’ latest patent could predict how long you’ll be in the waiting room.

2 min read
Patent Drop

Meta Glucose Measurement Patent May Face Data-Collection Obstacles

Photo via U.S. Patent and Trademark Office

A recent Meta patent aims to measure your glucose through light reflections in your eyes.

2 min read