Spotify's Job Slash Beat Drops Hard

The music streaming giant's shares rocketed up by nearly 7% pre-market after they decided to ax about 1,500 of their crew.

They’ve been snipping away jobs all year, saying goodbye to 600 peeps in January and another 200 in June.

But hey, they did score their first profit in a year and a half recently, so it’s not all doom and gloom.

Now, this is gnarly – slashing 17% of the workforce! Daniel Ek (Spotify's CEO) sent this email that’s like, “I know we just made some cash, and our tunes are hitting all the right notes with user growth, but we gotta stay lean and mean.”

Their last price hike added a buck to the subscription cost, putting an extra 10% in the bank from all the paying music lovers out there.

Oh, and you want to know what else? Spotify is taking a hit of up to 145 million euros in charges as they kick folks out the door with five months’ severance.

You see, they’ve got their eyes on the prize: a billion users by 2030. and they're telling us it's all about being efficient and productive.

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Fed's Rate Rodeo: Hikes Out, Cuts In

U.S. Federal Reserve officials hint they might be riding out the storm with no new hikes, but whispers of future cuts are stirring up a storm.

Inflation still looms large at 3.5%, screaming above the 2% goal.

The Fed is saying the current rate range of 5.25% to 5.5% should continue taming inflation.

The 2024 presidential election could turn rate cuts into a political circus, and markets are waiting eagerly.

Economists are placing their bets, but only a brave 24% expect a 2024 recession. The job market's holding on tight, despite interest rate hikes trying to buck it off.

Inflation's expected to slow its wild ride, but hitting the 2% target might be a journey into 2025.

Meanwhile, Wall Street's recent bull run tripped over its shoelaces, reminding everyone that the party can't last forever.

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The Cryptocurrency Craze: Bitcoin Blasts Past $42K

Cryptocurrencies are making waves yet again.

Bitcoin's price has soared, crossing the $42,000 mark for the first time since April 2022.

The surge is linked to hopes of U.S. regulatory approval for Bitcoin exchange-traded funds (ETFs) and speculation about potential interest rate cuts.

Now, companies tied to crypto are making bank, shares of Coinbase leaped 7.5% and investor Microstrategy also saw an 8.2% intraday jump.

Bitcoin miners like Riot Platforms, Marathon Digital, and CleanSpark skyrocketed between 10.3% and 18.8%.

Even after a tumultuous year with more than a trillion dollars leaving the crypto market, Bitcoin's bounce-back is nothing short of astonishing, aiming for its best annual performance since 2020.

Actually, Bitcoin's halving event, which historically boosts prices, adds to the positive outlook.

The optimism is palpable, with Bitcoin ETFs potentially on the horizon, and whispers of rate cuts fueling the fervor.

However, let's not forget the elephant in the room: Binance's recent scrutiny for weak money-laundering checks amidst laundering of billions in illicit funds.

While Bitcoin's skyrocketing price has wallets throbbing with excitement, the crypto world remains a rollercoaster with high highs, profound lows, and a side of regulatory side-eye.

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Double Agent Diplomacy: Former U.S. Ambassador's 40-Year Spy Stint

Drama unfolds as Victor Manuel Rocha, ex-U.S. envoy to Bolivia, is busted for being Cuba's mole since the 80s.

The Department of Justice spills that Rocha used his top-diplomat role to snoop for Cuba, even minting a fake passport.

Busted at 73, Rocha's Miami meet-up with a judge is buzzing.

The spy saga stretches from his State gig in '81 right up to advising U.S. Southern Command. The spy mistake? Rocha got chummy with undercover FBI posing as Cuban spies, blabbing his spy life since '81, including his "right-wing persona" cover!

Rocha's intel includes a stint at the White House's National Security Council and as an adviser to U.S. military Chiefs.

Rocha's past includes a New York upbringing, Ivy League diplomas, and charging into Latin politics.

His Bolivia gambit in 2002 tried to elbow out coca champ, Evo Morales, but backfired big time, fanning flames of anti-U.S. feels securing Morales the presidency.

Now, as this political thriller unspools, ex-mentor John Feeley drops a bomb: Rocha's Trump-era political mask fooled them all.

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