Shares of GameStop (NYSE: GME) are falling 6.4% on Friday at 10:25 a.m. after the video game retailer announced it had fired its CFO while also preparing to fire an unspecified number of employees. The move comes after GameStop announced it was splitting its stock by a 4-to-1 ratio for shareholders of record on July 15. The video game retailer is in the midst of a transformation of its business as the industry inexorably moves to one that is online and digital. Read More...
Reuters
Fed hawks signal downshift in U.S. rate hikes after July
(Reuters) -Two of the Federal Reserve’s most vocal hawks on Thursday said they would support another 75 basis-point interest rate increase later this month but a downshift to a slower pace afterward, even as both downplayed the risk of higher borrowing costs pushing the U.S into recession. “I am definitely in support a doing another 75 basis-point hike in July,” Fed Governor Christopher Waller said during a discussion with the National Association for Business Economics. “Probably 50 in September,” Waller added, “and then after that we can debate whether to go back down to 25s or if inflation just doesn’t seem to be going down, we have to do more.”
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