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United States Michigan Consumer Sentiment Index rises to 48.9 in June

Consumer confidence in the United States (US) improved slightly in June, with the University of Michigan’s (UoM) Consumer Sentiment Index rising to 48.9 in the flash estimate from 44.8 in May. This print came in better than the market expectation of 46.In this period, the Consumer Expectations Index rose to 49.3 from 44.1, surpassing analysts’ estimate of 44.3. Additionally, the one-year Inflation Expectation component edged lower to 4.6% from 4.8%, while the five-year Inflation Expectation…

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Zuckerberg admits Meta has ‘made mistakes’ in AI workforce overhaul: report

Meta CEO Mark Zuckerberg acknowledged Friday that the company has “made mistakes” as it undergoes a sweeping workforce overhaul tied to its aggressive push into artificial intelligence (AI). Zuckerberg made the remarks in an internal memo to employees, according to Reuters, which reported that the Meta chief warned of challenges…

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