US Business

Steep spending cut into parent Meta Platforms’ profit as it shifts focus to the metaverse. Shares fell 20% after hours as it said revenue growth would slow, partly because users were spending less time on lucrative services.

CEO Daniel Ek says the past few weeks “have presented a number of learning opportunities” from the protest against the company’s star podcaster.

Billionaire Melinda French Gates is still promising to give away most of her wealth—just not necessarily all to the Gates Foundation she started with her ex-husband.

With many consumers tapped out on buying physical objects, economists hope warmer weather and waning infections will kick-start purchases on services like dining and travel.

Staffing levels and pandemic restrictions remain challenges, the coffee chain says. Price increases helped the company’s margins.

General Motors also reported that it plans to accelerate the timetable for some electric-vehicle launches and will establish a third factory to build plug-in trucks.

Alphabet reported fourth-quarter revenue of $75.33 billion, an increase of 32%, and profit rose by a third. The search giant also announced a 20-for-1 stock split..

The Labor Department said there were nearly 11 million openings at the end of last year, but private-sector data for January showed early signs of a pullback in demand for workers.

U.S. consumer spending is now being tested by Omicron’s persistence, waning fiscal stimulus, inflation and stock-market volatility.

A report commissioned by Rio Tinto found that nearly half of workers have experienced bullying, and 28% of women have been sexually harassed.