Bitcoin climbs after U.S. Feds announce rate rise

By May 4, 2022Bitcoin Business
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Netflix is facing criticism from shareholders, with the company hit by a lawsuit for allegedly misleading the market

The shareholders at the centre of the claim say the streaming giant has lied about its ability to keep adding subscribers over recent months.

Filed in a San Francisco federal court… the case is seeking damages for declines in the Netflix share price this year.

The case accuses California-based Netflix and its top executives of failing to admit that increasing competition was leading to a plunge in subscribers.

It follows announcements the company had missed its subscriber growth estimates… with shares dropping 20% in January… before plunging more than 35% on April 20.

Netflix lost 200,000 subscribers in its first quarter… falling well short of its forecast of adding 2.5 million new users.

The company says this is all due to a combination of factors… including inflation, competition from other streaming services and its suspension of service in Russia.

Twitter Users listen up, Billionaire Elon Musk has hinted some users may be paying to be on Twitter

The world’s richest man is keeping busy by kicking around ideas for potential changes to the social platform

He is now suggesting charging governments and corporations a ‘slight cost’ to use Twitter.

In a tweet, Musk says “Ultimately, the downfall of the Freemasons was giving away their stonecutting services for nothing”

He went on to say that “Twitter will always be free for casual users, but maybe a slight cost for commercial or government users.”

Now as usual with Musk, the words he says aren’t set in stone, he only has tweeted this idea to his almost 91 million twitter followers

This follows reports last month that Musk suggested he might charge media companies to quote or embed tweets.

Making major corporations pay to tweet will be complex, and this all joins the cloud of speculation of changes to the platform once musk officially takes over Twitter

One thing is clear, Musk has ambitious plans because he wants to grow twitters revenue.

The U.S. Federal Reserve has raised interest rates by its steepest increment in 22 years

The committee voted unanimously to increase the key interest rate by a half percentage point.

The Fed says it’s committed to shrinking its balance sheet and tightening monetary policy to get a grip on soaring inflation in America.

Chair Jerome Powell began with a powerful message for the American people, saying combatting high inflation is job number one.

He added that additional half-percentage-point rate hikes will be on the table for the next few meetings. But the bank isn’t looking to go bigger.

“A 75 basis point increase is not something the committee is actively considering,” Powell told reporters.

“If inflation comes down we’re not going to stop, we’re just going to go down to 25 basis point increases.”

Market analyst Octavio Marenzi says normally Wall street would respond negatively to a rate rise, but not today


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