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Amazon beats Q4 revenue estimates, but profits slump

NEW York (AP) — Amazon on Thursday reported worse-than-expected profits, but its revenue beat expectations boosted by sales in North America businesses and the cloud-computing unit AWS. Amazon said it made $300 million in profits, or 3 cents per share, falling below the $2.03 billion analysts surveyed by FactSet had been expecting. The company said its profits were dented by a $2.3 billion write-down of the value of its stock investment in electric vehicle start-up Rivian Automotive. The company’s fourth quarter profits represent a significant drop from the $14.3 billion it ...

Average long-term mortgage rate falls a straight week

The average long-term U.S. mortgage rate declined for the fourth week in a row, a sign of relative stability that could potentially open the door for some prospective homebuyers to get back in the market. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate fell to 6.09% from 6.13% last week. That’s the lowest level since September. The average rate a year ago was 3.55%. The average long-term rate reached a two-decade high of 7.08% in late October and early November as the Federal Reserve continued to raise its key lending rate in a bid to ...

Ford 4Q profit drops 90%, company says more cost cuts coming

DETROIT (AP) — Ford Motor Co. reported Thursday that its fourth-quarter net income fell 90% from a year earlier, leading company officials to say the automaker’s costs are too high and to pledge more belt-tightening this year. CEO Jim Farley said Ford should have done better last year, and it left $2 billion in profits on the table that were within its control. He said Ford will correct that with improved execution this year. The global shortage of computer chips and other parts hit Ford hard at the end of last year, costing it production of roughly 100,000 vehicles that could ...

Five signs to be a millionaire

Wealth of Geeks Are you on track to be a millionaire? Do you want to be? I’ve studied millionaires for years. I took notes on their habits, how they lived, and their choices. And while all millionaires are different, they have particular habits in common. These habits go beyond just money. Financial success is determined equally by your daily choices as much as by math. The psychology behind each money decision you make significantly impacts your ability to build wealth. The everyday habits of millionaires involve a lot of psychology. Here are signs that you are destined to ...

Supplier diversity efforts build more equitable food system

Business Wire UNFI is committed to developing, fostering, and retaining relationships with diverse-owned suppliers while creating matchmaking sessions between these companies and retail customers. A robust supplier diversity network supports UNFI’s efforts to build a grocery supply chain that is better for all, delivering great products and services, more choices, and fresh thinking to help customers differentiate within their local markets. UNFI’s supplier diversity team actively engages with diverse-owned suppliers to help them achieve equal access to purchasing and selling ...

Business Wire Climate Tech funding represented more than a quarter of every venture dollar invested in 2022, according to PwC’s State of Climate Tech 2022 report. Concurrently, layoffs from other IT sectors are driving migration to climate work. The Environmental Jobs Transparency Survey is an anonymous, open-source multi-year survey founded by Yale School of the Environment graduates. With over 500 responses, it can be mined for trends, although more data is needed. Women+ in Climate Tech’s analysis of base pay from the data, reveals: Across all roles, men make an average of ...