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Renting out your car might soon be the best way to earn passive income.
Uber’s (UBER) newest service, Uber Carshare, lets you earn cash by renting out unused cars. Let’s look under the hood at how the peer-to-peer pioneer might reshape the gig economy — again.
US stocks finished higher Thursday as Wall Street awaits next week’s key inflation data.
• Initial jobless claims in the United States increased to 261,000, well above expectations of 235,000. This was the highest reading in over 18 months and notably above the previous month, pointing to a significant softening of labor conditions.
• Adobe (ADBE) has launched a new generative AI offering called Firefly for Enterprise designed to streamline and accelerate content creation while optimizing costs. Firefly’s first model is trained on Adobe Stock images and intended to enable employees across an organization, at any creative skill level, to generate on-brand, ready-to-share content.
• The Eurozone officially entered a recession in the first quarter of 2023. The EZ saw a gross domestic product of -0.1%, according to revised estimates from Eurostat. Germany, Ireland, the Netherlands, and Greece are among the countries that reported an economic contraction in the first quarter.
What to be on the lookout for today
• Chinese EV maker Nio (NIO) will offer an update on its most recent fiscal quarter. While the company has struggled to grow its vehicle delivery rate, China is a high-growth region for EVs. Investors will be interested to see how the company expects to meet competition from larger EV manufacturers like Tesla.
Let’s face it, stuff happens. Here’s how to troubleshoot what feels like a cursed vacation.
When everything that can go wrong does, it’s tempting to just pack it up and go home. Hang in there! You can still bounce back and reclaim your vacation vibe with these solutions to common travel headaches.
1. You’re stuck on a redeye. Your original flight was canceled and now you’re heading to your destination during the wee hours. Here’s how to make sure you get some rest, so you can arrive fresh and ready to go.
2. You lose your wallet. You’ve got no money, and you’re freaked out about identity theft. Take a breath, then follow these steps — the odds are good that everything will be OK.
3. You get sick. Germs lurk in the shadows, waiting for the moment your adrenaline dips. Here’s how to avoid the vacay flu (or get prompt medical care if you succumb, even overseas).
Find the lowest rates on flights, hotel rooms, car rentals, and more with SoFi Travel, a new service offered exclusively to SoFi members. SoFi Travel lets you budget, plan, and book your next trip in a convenient one-stop shop.
Today’s top stories
Would you prefer to be managed or “coached”? Check out why one company has swapped managers for “coaches” — and how it helped them to rank in the top 1% of teams worldwide. Read more >> Tired of Excel (MSFT) headaches? A new startup plans to take on the spreadsheet goliath with their own flexible business planning platform. Pigment plans to bring a splash of color to the beige world of business spreadsheets by offering 2 key features Excel doesn’t currently have. Read more >> Green investing is a growing area of opportunity for interested investors. The most well-known green tech sectors and green stocks include renewable energy and electric vehicles, but green investment can apply to nearly every industry. Read more >>Not-So-Breaking News
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Google (GOOGL) announced it will start tracking office attendance data for performance reviews. The tech company currently offers a hybrid schedule, requiring three days in the office per week.
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Apple (AAPL) acquired the augmented reality company Vira. This announcement comes after the iPhone maker released its own AR headset, priced at $3499.
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Meta Platforms (META) released WhatsApp Channels, designed to turn the app into a “private broadcast messaging product.” With this update, users will be able to follow content about hobbies, sports teams, news, and more.
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GameStop (GME) parted ways with CEO Matt Furlong and promoted board member Ryan Cohen to executive chairman. The gaming company did not offer insight into the decision.
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Amazon (AMZN) announced it will release an ad-supported tier for Prime Video. This move could both attract more subscribers and bolster the company’s ad service.
Financial planner tip of the day
“Automating savings can work, because it’s easy to burn through cash idling in a checking account on unmemorable or unnecessary expenses throughout the month. Shifting the money away from the checking account can make it a little more difficult to spend those funds—potentially stopping a bad financial habit before it starts.”
Brian Walsh, CFP® at SoFi