Doug Brignole's Iron Man Archive

Dorsey's Block Fires Nearly Half Of The Company In 'Massive' AI Bet, Sending Shares Soaring One week after WIRED reported that things were pretty dismal over at Jack Dorsey's payment processing company Block (formerly Square), the company announced that they are cutting 4,000 employees - nearly half of their headcount - in order to invest 'heavily' in artificial intelligence tools to run more efficiently, including its own called Goose, Bloomberg reports.  The news sent shares up over 30% in after hours trade. "We are taking bold and decisive action here, but we’re doing it from a position of...

10Y Yield Extends Rise After Surge In ISM Manufacturing Prices After ISM's almost unprecedented bounce higher in January, US Manufacturing dipped in February: S&P Global Manufacturing PMI fell from 52.4 to 51.6 - weakest in seven months ISM Manufacturing PMI fell from 52.6 to 52.4 (better than expected) And this is occurring as 'hard' data ebbs lower... “February saw US manufacturers report the weakest expansion since last July, in a further sign that the overall pace of economic growth has moderated in recent months," according to Chris Williamson, Chief Business Economist at S&P Global Market...

Iraq’s Coordination Framework is still putting forward Nouri al-Maliki as its candidate for prime minister, despite President Trump loudly and repeatedly demand he be withdrawn. The US is now reportedly setting a deadline of Friday, February 27, to end the candidacy or face unspecified repercussions. If that sounds familiar, it’s because the US had similarly […]