Here you will find all the latest business news from Gambling911.com as well as the financial betting odds provided by BetOnline.

Current Financial Betting Odds (as of June 15, 2022)

Dow Jones Price June 30th at Close

Over 30550.5 Points -120

Under 30550.5 Points -120

Oil Price (Barrel) June 30th at Close

Under 124.5 USD -125

Over 124.5 USD -115

US National Average Gallon of Gas on June 30th?

Over 5 $ -270 (Gambling911 Hot Pick)

Under 5 $ +200

Latest Gambling911 Business News

CoinBase Hires 200 Then Swifty Fires Them Amid Crypto Crisis (June 15, 2022) - Speaking to Bloomberg Wealth, Andrew Grass discusses how he helped hire about 200 people at Coinbase earlier this year. Now most of those hires — and Grass himself — are gone.

But what was truly shocking is the way in which these employees found out.  According to the Bloomberg News piece, most woke up to find they no longer had access to their work emails.  Or perhaps they received notification in their personal email first alerting them they've been cut off from access to Coinbase systems. OUCH!

The world's largest digital currency exchange laid off around 18% of its workforce.

Those affected would receive a minimum of 14 weeks of severance pay.

The mass layoffs come just days after Coinbase CEO Brian Armstrong criticized its employees via Twitter for issuing a public petition to remove some senior Coinbase executives.

Fed Likely to Boost Interest Rates by Three-Quarters of a Point This Week (June 14, 2022) - Fed policymakers are entertaining the idea of a 75-basis-point rate increase this week, according to CNBC’s Steve Liesman.  The market remained relatively stable to open Tuesday's trading.  It was actually up slightly.

Changes in the economic outlook, including the likelihood that inflation hasn’t peaked and is running well ahead of the Fed’s 2% goal, could influence a bigger rate move during the two-day meeting that concludes Wednesday.

A 75 basis point move is “a real distinct possibility,” Liesman said.

“The most likely triggers for a shift to a more aggressive pace of tightening are the upside surprise in the May CPI report and the further rise last Friday in the Michigan consumer survey’s measures of long-term inflation expectations that has likely been driven in large part by further increases in gas prices,” Goldman chief economist Jan Hatzius and others said in a note.

Seven of the World's Richest Crypto Founders Have Lost Combined $114 Billion (June 14, 2022) - The Winklevoss twins and five other billionaires who made their riches on cryptocurrency have lost a combined $114 billion and trading platforms have had to lay off much of their workforce.

Changpeng Zhao, the founder of Binance, has now seen his personal fortune - once the world's 11th largest, fall 89 percent to $10.2 billion, and Sam Bankman-Fried, the 30-year-old CEO of crypto trading platform FTX, has seen his fortune decline 66 percent since it peaked at $26 billion, according to Bloomberg.

Seven of the world’s richest crypto founders have lost a combined $114 billion since November as digital-asset values crumble. https://t.co/WThHr5gBrE

— Bloomberg (@business) June 14, 2022

Meta Hit With 8 Suits Claiming Its Algorithms Hook Youth and Ruin Their Lives (June 9, 2022) - Meta Platforms Inc. is now a leader in another social media trend -- lawsuits claiming the company built algorithms in its platforms that lure young, according to Bloomberg News.

Eight complaints were filed in US courthouses over the course of a single week to kick off this month.  The allegations claim both Facebook and Instagram platform exposure has led to suicides, eating disorders and more.

“These applications could have been designed to minimize potential harm, but instead, a decision was made to aggressively addict adolescents in the name of corporate profits,” attorney Andy Birchfield, a principal at Beasley Allen, the law firm that drafted the suits, said in a statement Wednesday.

A Meta spokesperson declined to comment when approached by Bloomberg but did offer that the company has developed tools for parents to keep track of their children’s activity on Instagram and set time limits.

Meta also offers “Take A Break” reminders that nudge users to take a moment away from social media.

In other Facebook news, it was revealed Wednesday that parent company Meta will be bringing Roblox-like Crayta, a game development platform that lets you build and play games with your friends in real time, to Facebook Gaming’s cloud streaming service.

The company says Crayta provides an easy-to-use developer toolkit and makes game creation more accessible, whether you’re building on mobile or desktop.

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Nobel Laureate Shiller Sees ‘Good Chance’ of a US Recession (June 8, 2022) - Economist Robert Shiller tells Bloomberg he sees a “good chance” of a US recession that’s at least in part the result of a “self-fulfilling prophecy” as investors, companies and consumers grow increasingly worried about a downturn.

“The fear can lead to the actuality,” said Yale University professor Shiller, author of the 2019 book “Narrative Economics: How Stories Go Viral and Drive Major Economic Events.”

With concerns over inflation accelerated and the Federal Reserve stepping in to control it, a number of corporate chieftains have sounded the alarm and stock prices continue slumping.

Shiller puts the chances of a recession sometime over the next couple of years at a “much higher than normal” 50%.

Shiller said the prospect of a higher path for rates could initially lead to a rush of home purchases, as buyers try to lock in mortgage rates before they rise further. But as the property market buckles, that could stir memories of the last time it happened, he said.

“The idea that we’re in a housing bubble is not so much talked about yet,” the Nobel laureate said. “But it’s starting to come back.”

Nobel laureate economist Robert Shiller sees a “good chance” of a US recession that’s at least in part the result of a “self-fulfilling prophecy” https://t.co/sgqq4ivrab

— Bloomberg (@business) June 8, 2022

- Aaron Goldstein, Gambling911.com